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large_string | desc
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https://www.sec.gov/Archives/edgar/data/889331/0000950137-07-002879-index.html
|
https://www.sec.gov/Archives/edgar/data/889331/0000950137-07-002879.txt
|
889331
|
LITTELFUSE INC /DE
|
10-K
|
2007-02-27
|
2006-12-30
|
7
|
SUMMARY OF EXECUTIVE OFFICER COMPENSATION
|
EX-10.19
|
8777
|
c12654exv10w19.txt
|
https://www.sec.gov/Archives/edgar/data/889331/000095013707002879/c12654exv10w19.txt
|
gs://sec-exhibit10/files/full/2b915efe6fb8eceb9038f78a2dcc141ff6abd3d8.txt
|
txt
|
{"Filing Date": "2007-02-27", "Accepted": "2007-02-27 17:29:58", "Documents": "14", "Period of Report": "2006-12-30"}
|
<DOCUMENT>
<TYPE>EX-10.19
<SEQUENCE>7
<FILENAME>c12654exv10w19.txt
<DESCRIPTION>SUMMARY OF EXECUTIVE OFFICER COMPENSATION
<TEXT>
<PAGE>
EXHIBIT 10.19
LITTELFUSE, INC.
SUMMARY OF EXECUTIVE OFFICER COMPENSATION
The compensation of executive officers of Littelfuse, Inc. (the "Company")
primarily consists of three variable components: base salary, a potential cash
bonus under the Company's annual incentive compensation program, and stock
options or other awards under the Littelfuse, Inc. Equity Incentive Compensation
Plan for Employees and Directors of Littelfuse, Inc. (the "Equity Plan").
SALARIES
The base salaries for Mr. Gordon Hunter, the Chairman of the Board,
President and Chief Executive Officer of the Company, and each of the other four
most highly compensated executive officers of the Company named below (the
"Other Executive Officers"), effective July 1, 2006, are as follows:
<Table>
<Caption>
NAME AND PRINCIPAL POSITIONS BASE SALARY
<S> <C>
Gordon Hunter, Chairman, President and Chief Executive
Officer $612,000
Philip G. Franklin, Vice President, Operations Support
and Chief Financial Officer $331,500
David Samyn, Vice President and General Manager,
Electronics Business Unit $265,200
David W. Heinzmann, Vice President and General
Manager, Automotive Business Unit $229,000
Dal Ferbert, Vice President and General Manager,
Electrical Business Unit $219,500
</Table>
ANNUAL INCENTIVE COMPENSATION PROGRAM
The minimum, target and maximum amounts to be awarded under the annual
incentive compensation program for fiscal year 2007 for Mr. Hunter and each of
the Other Executive Officers, subject to achievement of financial objectives of
the Company and individual performance objectives, are as follows:
<Table>
<Caption>
NAME AND PRINCIPAL POSITIONS MINIMUM, TARGET AND MAXIMUM
AMOUNTS AS A PERCENTAGE OF BASE
SALARY
<S> <C>
Gordon Hunter, Chairman, President and Chief Executive
Officer 0, 75 & 150%
</TABLE>
<PAGE>
<Table>
<Caption>
NAME AND PRINCIPAL POSITIONS MINIMUM, TARGET AND MAXIMUM
AMOUNTS AS A PERCENTAGE OF BASE
SALARY
<S> <C>
Philip G. Franklin, Vice President, Operations Support
and Chief Financial Officer 0, 50 & 100%
David Samyn, Vice President and General Manager,
Electronics Business Unit 0, 40 & 80%
David W. Heinzmann, Vice President and General Manager,
Automotive Business Unit 0, 40 & 80%
Dal Ferbert, Vice President and General Manager,
Electrical Business Unit 0, 40 & 80%
</Table>
EQUITY PLAN AWARDS
Annual awards of options relating to fiscal year 2007 have not yet been
determined. The annual awards of options to purchase shares of Common Stock of
the Company relating to fiscal year 2006, granted on May 5, 2006 with an
exercise price of $34.33 per share, under the Equity Incentive Plan to Mr.
Hunter and each of the Other Executive Officers are as follows:
<Table>
<Caption>
NAME AND PRINCIPAL POSITIONS NUMBER OF SHARES
<S> <C>
Gordon Hunter, Chairman, President and Chief Executive
Officer 60,000
Philip G. Franklin, Vice President, Operations Support and
Chief Financial Officer 22,000
David Samyn, Vice President and General Manager, Electronics
Business Unit 15,000
David W. Heinzmann, Vice President and General Manager,
Automotive Business Unit 15,000
Dal Ferbert, Vice President and General Manager, Electrical
Business Unit 15,000
</Table>
The form of Specimen Non-Qualified Stock Option Agreement, including
vesting provisions, pursuant to which such awards were made is incorporated
herein by reference to Exhibit 10.16 to the Company's Annual Report on Form 10-K
for the fiscal year ended December 30, 2006 (the "2006 Annual Report").
Annual grants of restricted stock relating to fiscal year 2007 have not
yet been determined. The Company made its annual grant of shares of restricted
stock relating to fiscal year 2006 on May 5, 2006, pursuant to Performance
Shares Agreements with Mr. Hunter and each of the Other Executive Officers under
the Equity Plan as follows:
<PAGE>
<Table>
<Caption>
NAME AND PRINCIPAL POSITIONS NUMBER OF SHARES
<S> <C>
Gordon Hunter, Chairman, President and Chief Executive
Officer 6,000
Philip G. Franklin, Vice President, Operations Support and
Chief Financial Officer 5,000
David Samyn, Vice President and General Manager, Electronics
Business Unit 5,000
David H. Heinzmann, Vice President and General Manager,
Automotive Business Unit 5,000
Dal Ferbert, Vice President and General Manager, Electrical
Business Unit 5,000
</Table>
These restricted share awards are subject to the Company attaining certain
financial performance goals relating to return on the net tangible assets and
earnings before interest, taxes, depreciation and amortization of the Company
during the three-year period ending December 31, 2008. The form of Specimen
Performance Shares Agreement pursuant to which such grants were made is
incorporated herein by reference to Exhibit 10.17 to the 2006 Annual Report.
OTHER BENEFITS
Each of the officers named above is eligible to participate in the other
employee benefit plans of the Company applicable to executive officers,
including the Company's Retirement Plan, as amended, the 401(k) Savings Plan,
and the Supplemental Executive Retirement Plan, in accordance with the terms and
conditions of such plans. These officers are also parties to Change of Control
Employment Agreements that, among other things, entitle them to payments upon
severance or upon a change of control of the Company.
These officers also receive certain personal benefits from the Company,
the value of which is expected to be less than $50,000 for each of such
officers.
WHERE MORE INFORMATION CAN BE FOUND
Each of the plans and agreements mentioned herein or the forms of awards
thereunder are discussed further in the Company's Proxy Statement for 2007
Annual Meeting of Stockholders and, other than as to salaries and the Annual
Incentive Compensation Program, are filed as exhibits to the Company's 2006
Annual Report, or will be discussed in the Company's Proxy Statement for 2007
Annual Meeting of Stockholders, each of which can be found on the SEC's website
at www.sec.gov.
</TEXT>
</DOCUMENT>
|
https://www.sec.gov/Archives/edgar/data/912240/0000898430-97-004674-index.html
|
https://www.sec.gov/Archives/edgar/data/912240/0000898430-97-004674.txt
|
912240
|
G&L REALTY CORP
|
10-Q
|
1997-11-05
|
1997-09-30
|
11
|
PROMISSORY NOTE
|
EX-10.71
|
13743
| null |
https://www.sec.gov/Archives/edgar/data/912240/0000898430-97-004674.txt
|
gs://sec-exhibit10/files/full/a6fc275fe5c61f988c7bc2439aa6c8e637e6947d.txt
|
txt_filing
|
{"Filing Date": "1997-11-05", "Accepted": "1997-11-05 00:00:00", "Documents": "17", "Period of Report": "1997-09-30", "SROs": "NYSE"}
|
<DOCUMENT>
<TYPE>EX-10.71
<SEQUENCE>11
<DESCRIPTION>PROMISSORY NOTE
<TEXT>
<PAGE>
EXHIBIT 10.71
PROMISSORY NOTE
$870,000.00 September 29, 1997
For value received, the undersigned, BURLEY SKILLED NURSING FACILITY, LLC,
a Delaware limited liability company ("BORROWER"), promises to pay to the order
of G&L REALTY PARTNERSHIP, L.P., a Delaware limited partnership ("LENDER"), at
439 North Bedford Drive, Beverly Hills, California 90210 or at any other place
that may be designated in writing by Lender, the principal sum of Eight Hundred
Seventy Thousand Dollars and No/Cents ($870,000.00) ("LOAN AMOUNT"), with
interest as set forth herein (calculated on the basis of a 360-day year). All
sums due are payable in lawful money of the United States of America. The
principal sum will bear interest at the London Interbank Offered Rate fixed for
30-day maturities ("LIBOR") (as defined below) plus 650 basis points.
LIBOR shall mean for 30-day maturities an interest rate per annum which is
the arithmetic mean (rounded upward to the nearest whole multiple of one-
sixteenth of one percent) of the respective London Interbank Offered Rates
offered to the principal office of Bank of America in London, England, by prime
banks in the London interbank market at 11:00 a.m. (London time), two business
days (defined as a day of the year on which dealings are carried on in the
London interbank market and banks are open for business in London and not
required or authorized to close in New York City) before the first day of such
30-day maturity period, for a period equal to such 30-day maturity period.
This Note is secured by, among other things, (i) a certain Deed of Trust,
Security Agreement, and Fixture Filing, with Assignment of Rents and Agreements
dated as of the same date as this Note, executed by Borrower, as trustor, in
favor of Lender, as beneficiary ("BURLEY DEED OF TRUST"), and encumbering the
real property described in the Burley Deed of Trust ("BURLEY PROPERTY"), and
(ii) a certain Deed of Trust, Security Agreement, and Fixture Filing, with
Assignment of Rents and Agreements dated as of the same date as this Note,
executed by Valley Living Center, LLC, a Delaware limited liability company, as
trustor, in favor of Lender, as beneficiary ("VALLEY LIVING DEED OF TRUST"), and
encumbering property described in the Valley Living Deed of Trust ("VALLEY
LIVING PROPERTY"). The Burley Deed of Trust and the Valley Living Deed of Trust
are collectively referred to herein as the "DEED OF TRUST." The Burley Property
and the Valley Living Property are collectively referred to herein as the
"PROPERTY." The holder of this Note will be entitled to the benefits of the
security provided by the Deed of Trust and will have the right to enforce the
covenants and agreements contained in the Deed of Trust.
Borrower will pay to Lender the principal amount of this Note, and accrued
interest, as follows:
Borrower will make an initial payment of interest only at the LIBOR rate
plus 650 basis points as determined by Lender, in accordance with the LIBOR
definition herein, and
-1-
<PAGE>
communicated in writing to Borrower prior to the initial interest payment date,
on the first day of the first month after the date of disbursement of the Loan
Amount, covering interest accrued on this Note from the date of disbursement of
the Loan Amount to the end of the month in which the disbursement of the Loan
Amount will occur. After that, Borrower will make monthly payments of interest
only (at the LIBOR rate communicated in writing to Borrower prior to the
interest payment date, plus 650 basis points), on the first day of the second
month after the date of disbursement of the Loan Amount and the first day of
each succeeding month after that.
The entire unpaid principal balance of this Note, together with all accrued
and unpaid interest, will be due on April 1, 1998 ("MATURITY DATE"). The
Maturity Date may be extended to May 1, 1998, by the payment to Lender of the
sum of $4,350.00 on or before April 1, 1998. If the due date is so extended, it
may be further extended to June 1, 1998, by the payment to Lender of an
additional sum of $4,350.00 on or before May 1, 1998. If the due date is so
extended, it may be further extended to July 1, 1998, by the payment to Lender
of an additional sum of $4,350.00 on or before June 1, 1998. If the due date is
so extended, it may be further extended to August 1, 1998, by the payment to
Lender of an additional sum of $4,350.00 on or before July 1, 1998. If the due
date is so extended, it may be further extended to September 1, 1998, by the
payment to the Lender of an additional sum of $4,350.00 on or before August 1,
1998. If the due date is so extended, it may be further extended to October 1,
1998, by the payment to the Lender of an additional sum of $4,350.00 on or
before September 1, 1998. The aforementioned extension payments shall not be
applied to principal and interest otherwise owing under the terms of this Note.
In the event Lender fails to notify Borrower of the applicable LIBOR rate
before a date when interest is payable, the LIBOR rate previously determined by
Lender and communicated in writing to Borrower shall apply, and, if necessary,
for the next following interest payment date an adjustment will be made in the
interest payment amount payable by Borrower hereunder based upon the difference,
if any, in the LIBOR rate actually in effect during such period in question and
the LIBOR rate paid.
If the LIBOR rate is unavailable for a date when interest on any portion of
the Loan Amount outstanding is to be determined and paid, then that portion of
the Loan Amount outstanding shall bear interest at the rate per annum announced
publicly and most recently by Bank of America as its prime rate plus 500 basis
points.
If Borrower fails to make any required payment on or before five (5) days
following the date on which it becomes due, Borrower will pay, at Lender's
option, a late charge equal to five percent (5%) of the amount of the unpaid
payment.
From and after the Maturity Date, or an earlier date on which all sums
owing under this Note become due by acceleration or otherwise, all sums owing
under this Note will bear interest until paid in full at a rate equal to five
percent (5%) per annum in excess of the rate of interest specified above
("DEFAULT RATE").
-2-
<PAGE>
All payments on this Note will be applied first to the payment of any
costs, fees, late charges, or other charges incurred in connection with the
indebtedness evidenced by this Note; next, to the payment of accrued interest;
then to the reduction of the principal balance; or in any other order that
Lender requires.
If:
(a) Borrower fails to pay when due any sums payable under this Note;
provided that such failure continues for five (5) business days after
written notice of such default;
(b) an Event of Default (defined in the Deed of Trust) occurs; or
(c) any other event or condition occurs that, under the terms of the
Deed of Trust, gives rise to a right of acceleration of sums owing under
this Note,
then Lender, at its sole option, will have the right to declare all sums owing
under the Note immediately due. However, if any document related to this Note
provides for the automatic acceleration of payment of sums owing under this
Note, all sums owing will be automatically due in accordance with the terms of
that document.
Borrower will have the right to pay, without penalty or premium, on any
monthly payment date, all or any portion of the outstanding principal amount of
this Note prior to the Maturity Date on not less than five (5) days' prior
written notice to Lender. Lender will apply all prepayments first to the
payment of any costs, fees, late charges, or other charges incurred in
connection with the indebtedness evidenced by this Note; next, to the payment of
accrued interest; then to the outstanding principal amount of this Note in
inverse order of maturity, or, at the option of Lender, in the regular order of
maturity; or in any other order that Lender requires.
Borrower will pay to Lender all sums owing under this Note without
deduction, offset, or counterclaim of any kind. The relationship of Borrower and
Lender under this Note is solely that of borrower and lender, and the loan
evidenced by this Note and secured by the Deed of Trust will in no manner make
Lender the partner or joint venturer of Borrower.
If any attorney is engaged by Lender to enforce or construe any provision
of this Note, the Deed of Trust or the other Loan Documents (defined in the Deed
of Trust) or as a consequence of any Event of Default, with or without the
filing of any legal action or proceeding, then Borrower will immediately pay to
Lender on demand all attorney fees and other costs incurred by Lender, including
attorneys' fees and costs at trial, upon appeal or any petition for review,
together with interest from the date of the demand until paid at the Default
Rate.
No previous waiver or failure or delay by Lender in acting with respect to
the terms of this Note, the Deed of Trust, or the other Loan Documents will
constitute a waiver of any
-3-
<PAGE>
breach, default, or failure of condition under this Note, the Deed of Trust, or
the other Loan Documents. A waiver of any term of this Note, the Deed of Trust,
or the other Loan Documents must be made in writing and will be limited to the
express written terms of the waiver. If there are any inconsistencies between
the terms of this Note and the terms of any of the other Loan Documents, the
terms of this Note will prevail.
All notices required or permitted in connection with this Note will be in
writing and will be given at the place and in the manner provided in the Deed of
Trust for the giving of notices.
If this Note is executed by more than one person or entity as Borrower, the
obligations of each person or entity will be joint and several. No person or
entity will be a mere accommodation maker, but each will be primarily and
directly liable. Borrower waives presentment; demand; notice of dishonor; notice
of default or delinquency; notice of acceleration; notice of protest and
nonpayment; notice of costs, expenses, or losses and interest; notice of
interest on interest and late charges; and diligence in taking any action to
collect any sums owing under this Note or in proceeding against any of the
rights or interests to properties securing payment of this Note. Time is of the
essence with respect to every provision of this Note. This Note will be
construed and enforced in accordance with the laws of the state in which the
Property is located, except to the extent that federal laws pre-empt state law,
and all persons and entities in any manner obligated under this Note consent to
the jurisdiction of any federal or state court where the Property is located
having proper venue and also consent to service of process by any means
authorized by the state court where the Property is located or federal law.
Borrower (and the undersigned representative of Borrower, if any)
represents that Borrower has full power, authority and legal right to execute,
deliver and perform its obligations pursuant to this Note and the other Loan
Documents and that this Note and the other Loan Documents constitute valid and
binding obligations of Borrower.
BORROWER HEREBY AGREES NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF
RIGHT BY JURY, AND WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT
ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THE LOAN DOCUMENTS,
OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION THEREWITH.
THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY
BORROWER, AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE
AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. LENDER IS
HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS
CONCLUSIVE EVIDENCE OF THIS WAIVER BY BORROWER.
In the event any one or more of the provisions of this Note shall for any
reason be held to be invalid, illegal or unenforceable, the same shall not
affect any other provision of this Note and the remaining provisions of this
Note shall remain in full force and effect.
-4-
<PAGE>
No waiver or modification of any of the terms or provisions of this Note
shall be valid or binding unless set forth in a writing signed by a duly
authorized officer of Lender, and then only to the extent therein specifically
set forth. Whenever used, the singular number shall include the plural, the
plural the singular, and the words "Borrower" and "Lender" shall include their
respective successions, assigns, heirs, executors and administrators.
BORROWER:
BURLEY SKILLED NURSING FACILITY, LLC,
a Delaware limited liability company
By: /s/ Johann Keil
------------------------------------
Name: JOHANN KEIL
----------------------------------
Title: Member
---------------------------------
-5-
</TEXT>
</DOCUMENT>
|
https://www.sec.gov/Archives/edgar/data/931148/0000931148-97-000003-index.html
|
https://www.sec.gov/Archives/edgar/data/931148/0000931148-97-000003.txt
|
931148
|
UCAR INTERNATIONAL INC
|
10-Q
|
1997-05-01
|
1997-03-31
|
5
|
REAFFIRMATION AGREEMENT
|
EX-10.9
|
26548
| null |
https://www.sec.gov/Archives/edgar/data/931148/0000931148-97-000003.txt
|
gs://sec-exhibit10/files/full/c0ec144848bd3912410bba7b53147392ace02eab.txt
|
txt_filing
|
{"Filing Date": "1997-05-01", "Accepted": "1997-05-01 00:00:00", "Documents": "7", "Period of Report": "1997-03-31", "SROs": "NYSE"}
|
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>5
<DESCRIPTION>REAFFIRMATION AGREEMENT
<TEXT>
EXHIBIT 10.9
CONFORMED COPY
REAFFIRMATION AGREEMENT, dated as of
March 19, 1997 (as the same may from
time to time be amended, supplemented or
otherwise modified, this "Agreement"),
among UCAR INTERNATIONAL INC., a
Delaware corporation ("UCAR"), UCAR
GLOBAL ENTERPRISES INC., a Delaware
corporation (the "Borrower"), each
Subsidiary Guarantor listed on the
signature pages below (the "Subsidiary
Guarantors"), each other Subsidiary
party hereto (the "Foreign
Subsidiaries", and collectively with
UCAR, the Borrower and the Subsidiary
Guarantors, the "Reaffirming Parties")
and THE CHASE MANHATTAN BANK as
Administrative Agent and Collateral
Agent (in such capacities, "Chase") for
the benefit of the Lenders and the
Fronting Banks (each as defined in the
Amended and Restated Credit Agreement
referred to below),
WHEREAS UCAR, the Borrower, each of the Lenders, each of the Fronting
Banks and Chase have entered into the Effectiveness Agreement, dated as of the
date hereof (the "Effectiveness Agreement");
WHEREAS each of UCAR, the Borrower and certain of the Subsidiary
Guarantors and Foreign Subsidiaries is party to each pledge agreement to which
it is shown on Schedule A to be a party (collectively, the "Pledge Agreement"),
UCAR and the Borrower are party to the Parent Guarantee Agreement (such term and
each other capitalized term used but not defined herein having the meaning
assigned in the Effectiveness Agreement or the Amended and Restated Credit
Agreement referred to therein) and to a parent guarantee agreement in respect of
each Local Facility Credit Agreement (the "Local Parent Guarantees"), the
Subsidiary Guarantors are party to the Subsidiary Guarantee Agreement, certain
of the Foreign Subsidiaries are parties to the Guarantees in respect of certain
Obligations (the "Foreign Guarantees") and the Borrower and the Subsidiary
Guarantors are party to the Indemnity, Subrogation and Contribution Agreement
(the Pledge Agreement, the Parent Guarantee Agreement, the Local Parent
Guarantees, the Subsidiary Guarantee Agreement, the Foreign Guarantees and the
Indemnity, Subrogation and Contribution Agreement herein together referred to as
the "Collateral Documents").
WHEREAS each Reaffirming Party expects to realize, or has realized,
substantial direct and indirect benefits as a result of the Borrower entering
into the
-1-
<PAGE>
Effectiveness Agreement and as a result of the Amended and Restated Credit
Agreement becoming effective; and
WHEREAS the execution and delivery of this Agreement is a condition
precedent to the effectiveness of the Amended and Restated Credit Agreement and
to the availability of credit under the Amended and Restated Credit Agreement
under Section 7(f) of the Effectiveness Agreement;
NOW, THEREFORE, in consideration of the foregoing, to induce Chase,
each Lender and each Fronting Bank to enter into the Effectiveness Agreement and
the Amended and Restated Credit Agreement and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:
ARTICLE I
REAFFIRMATION/AMENDMENT AND RESTATEMENT
---------------------------------------
SECTION 1.01. REAFFIRMATION. Each of the Reaffirming Parties hereby
consents to the Effectiveness Agreement and the Amended and Restated Credit
Agreement and hereby confirms its respective guarantees, pledges and grants of
security interests, as applicable, and agrees that notwithstanding the
effectiveness of the Amended and Restated Credit Agreement such guarantees,
pledges and grants of security interests shall continue to be in full force and
effect and shall accrue to the benefit of the Lenders under the Amended and
Restated Credit Agreement.
SECTION 1.02. AMENDMENT AND RESTATEMENT. On and after the
effectiveness of the Amended and Restated Credit Agreement, (i) each reference
in each Collateral Document to the "Credit Agreement", "thereunder", "thereof"
or words of like import shall mean and be a reference to the Amended and
Restated Credit Agreement (as such agreement may be amended, modified or
supplemented and in effect from time to time), (ii) the definition of any term
defined in any Collateral Document by reference to the terms defined in the
Credit Agreement shall be amended to be defined by reference to the defined term
in the Amended and Restated Credit Agreement, as the same may be amended,
modified or supplemented and in effect from time to time and (iii) Schedule I to
the Pledge Agreement is hereby amended as set forth on the Attachment hereto.
-2-
<PAGE>
ARTICLE II
REPRESENTATIONS AND WARRANTIES
------------------------------
Each Reaffirming Party hereby represents and warrants, which
representations and warranties shall survive execution and delivery of this
Agreement, as follows:
SECTION 2.01. ORGANIZATION. Such Reaffirming Party is duly organized
and validly existing in good standing under the laws of the jurisdiction of its
formation.
SECTION 2.02. AUTHORITY; ENFORCEABILITY. Such Reaffirming Party has
the power and authority to execute, deliver and carry out the terms and
provisions of this Agreement and has taken all necessary action to authorize the
execution, delivery and performance by it of this Agreement. Such Reaffirming
Party has duly executed and delivered this Agreement, and this Agreement
constitutes its legal, valid and binding obligation, enforceable against it in
accordance with its terms.
SECTION 2.03. LOAN DOCUMENTS. The representations and warranties of
such Reaffirming Party contained in each Loan Document are true and correct in
all material respects on and as of the Effectiveness Date with the same effect
as though made on and as of such date, except to the extent such representations
and warranties expressly relate to an earlier date.
ARTICLE III
MISCELLANEOUS
-------------
SECTION 3.01. INDEMNITY. Each Reaffirming Party agrees to indemnify
Chase, each Fronting Bank, each Lender and each of their respective directors,
trustees, officers, employees and agents (each such person being called an
"Indemnitee") against, and to hold each Indemnitee harmless from, any and all
liabilities, obligations, losses, damages, penalties, claims, actions,
judgments, suits, costs or expenses or disbursements (including reasonable
attorneys' fees and expenses) of whatsoever kind or nature which may be imposed
on, asserted against or incurred by any of the Indemnitees arising out of, in
any way connected with, or as a result of (i) the execution or delivery of this
Agreement or any agreement or instrument contemplated hereby or thereby, the
performance by the parties hereto and thereto of their respective obligations
thereunder or the consummation of the transactions contemplated hereby and
thereby, or (ii) any claim, litigation, investigation or proceeding relating to
any of the foregoing, whether or not any Indemnitee is a party thereto; provided
that such indemnity shall not, as to any Indemnitee, be available to the extent
that such losses, claims, damages, liabilities or related expenses are
-3-
<PAGE>
determined by a court of competent jurisdiction by final and nonappealable
judgment to have resulted from the gross negligence or wilful misconduct of such
Indemnitee (treating, for this purpose only, Chase, any Fronting Bank or any
Lender and its directors, trustees, officers and employees as a single
Indemnitee). The obligations of such Reaffirming Party under this Section shall
be secured hereby and shall remain operative and in full force and effect
regardless of the expiration of the term of this Agreement, the consummation of
the transactions contemplated hereby, the repayment of any of the Obligations,
the invalidity or unenforceability of any term or provision of this Agreement or
any other Collateral Document, or any investigation made by or on behalf of
Chase, any Fronting Bank or any Lender. All amounts due under this Section 3.01
shall be payable on written demand therefor.
SECTION 3.02. SETOFF, ETC. In addition to, and without limitation of,
any rights of Chase, the Lenders and the Fronting Banks under applicable law, if
an Event of Default shall have occurred and be continuing, Chase, each Lender
and each Fronting Bank is hereby authorized at any time and from time to time,
to the fullest extent permitted by law, to set off and apply any and all
deposits (general or special, time or demand, provisional or final (including
all account balances, whether provisional or final and whether or not collected
or available)) at any time held and other indebtedness at any time owing by such
Lender or such Fronting Bank to or for the credit or the account of any
Reaffirming Party against any of and all the obligations of any Reaffirming
Party now or hereafter existing under this Agreement or any other Loan Document
held by Chase, such Lender or Fronting Bank (except that no asset of any Foreign
Subsidiary may be set off and applied against any obligation of any Reaffirming
Party that is a U.S. person), irrespective of whether or not Chase, such Lender
or such Fronting Bank shall have made any demand under this Agreement or such
other Loan Document and although such obligations may be unmatured. The rights
of Chase, each Lender and each Fronting Bank under this Section 3.02 are in
addition to other rights and remedies (including other rights of setoff) which
Chase, such Lender or such Fronting Bank may have.
SECTION 3.03. NOTICES. All notices and other communications hereunder
shall be made at the addresses, in the manner and with the effect provided in
Article IX of the Amended and Restated Credit Agreement; provided that, for this
purpose, the address of each Reaffirming Party shall be the one specified for
the Borrower under the Amended and Restated Credit Agreement.
SECTION 3.04. LIMITATION OF LIABILITY. No claim may be made by any
Reaffirming Party or any other person against Chase, any Lender and any Fronting
Bank or the Affiliates, directors, trustees, officers, employees, attorneys or
agents of any of them for any special, indirect, consequential or punitive
damages in respect of any claim for breach of contract or any other theory of
liability arising out of or related to the transactions contemplated by the
Effectiveness Agreement, the Amended and Restated Credit Agreement, the Credit
Agreement or this Agreement, or any act, omission or event occurring in
connection therewith; and each Reaffirming Party hereby waives, releases and
agrees not to
-4-
<PAGE>
sue upon any claim for any such damages, whether or not accrued and whether or
not known or suspected to exist in its favor and each Reaffirming Party agrees
to notify Chase, any Lender and any Fronting Bank, as applicable, of any such
claim promptly upon learning of any such claim.
SECTION 3.05. LIABILITY OF CHASE, ANY LENDER AND ANY FRONTING BANK,
ETC. If any claim is ever made upon Chase, any Lender and any Fronting Bank for
repayment or recovery of any amount or amounts received in payment or on account
of any of the Obligations and any of the aforesaid payees repays all or part of
said amount by reason of (a) any judgment, decree or order of any court or
administrative body having jurisdiction over such payee or any of its property
or (b) any settlement or compromise of any such claim effected by such payee
with any such claimant (including the Borrower or any other obligor in respect
of any Obligation), then and in such event each Reaffirming Party agrees that
any such judgment, decree, order, settlement or compromise shall be binding upon
it, notwithstanding any revocation hereof or the cancellation of any Loan
Document or other instrument evidencing any liability of the Borrower or any
other obligor in respect of any Obligation, and such Reaffirming Party shall be
and remain liable to the aforesaid payees hereunder for the amount so repaid or
recovered to the same extent as if such amount had never originally been
received by any such payee.
SECTION 3.06. CHOICE OF LAW; CONSENT TO JURISDICTION. THIS AGREEMENT
SHALL BE IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
EACH REAFFIRMING PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR
ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF ANY NEW YORK STATE
COURT OR FEDERAL COURT OF THE UNITED STATES OF AMERICA SITTING IN NEW YORK CITY,
AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING
OUT OF OR RELATING TO THIS AGREEMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY
JUDGMENT, AND EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY
AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD
AND DETERMINED IN SUCH NEW YORK STATE OR, TO THE EXTENT PERMITTED BY LAW, IN
SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN
ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER
JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.
NOTHING IN THIS AGREEMENT SHALL AFFECT ANY RIGHT THAT ANY LENDER OR FRONTING
BANK MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS
AGREEMENT AGAINST ANY REAFFIRMING PARTY OR THEIR PROPERTIES IN THE COURTS OF ANY
JURISDICTION.
-5-
<PAGE>
SECTION 3.07. EXPENSES. Each Reaffirming Party agrees to pay all
reasonable costs, fees and expenses (including reasonable attorneys' fees and
time charges of attorneys for Chase, any Lender and any Fronting Bank, which
attorneys may be employees of Chase, any Lender and any Fronting Bank) incurred
by Chase, any Lender and any Fronting Bank in collecting or enforcing any
Reaffirming Party's obligations under this Agreement (except that no Foreign
Subsidiary shall be obligated to pay any amount owed by any Reaffirming Party
that is a U.S. person).
SECTION 3.08. LOAN DOCUMENT. This Agreement is a Loan Document
executed pursuant to the Amended and Restated Credit Agreement and shall (unless
otherwise expressly indicated herein) be construed, administered and applied in
accordance with the terms and provisions thereof.
SECTION 3.09. SECTION CAPTIONS. Section captions used in this
Agreement are for convenience of reference only and shall not affect the
construction of this Agreement.
SECTION 3.10. SEVERABILITY. Wherever possible each provision of this
Agreement shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement shall be prohibited by or
invalid under such law, such provision shall be ineffective to the extent of
such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Agreement.
SECTION 3.11. WAIVER OF JURY TRIAL. EACH OF THE REAFFIRMING PARTIES
AND CHASE BY ITS ACCEPTANCE HEREOF HEREBY KNOWINGLY, VOLUNTARILY AND
INTENTIONALLY WAIVES ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION BASED HEREON OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
AGREEMENT. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH
OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES AND AGREES THAT IT HAS RECEIVED FULL AND SUFFICIENT
CONSIDERATION FOR THIS PROVISION AND THAT THIS PROVISION IS A MATERIAL
INDUCEMENT FOR CHASE, ANY LENDER AND ANY FRONTING BANK TO ENTER INTO THE
EFFECTIVENESS AGREEMENT AND THE AMENDED AND RESTATED CREDIT AGREEMENT.
Section 3.12. SUCCESSORS AND ASSIGNS. This Agreement shall inure to
the benefit of and be binding upon the parties hereto and their respective
successors and assigns.
Section 3.13. AMENDMENT. This Agreement may be waived, modified or
amended only be a written agreement executed by each of the parties hereto.
-6-
<PAGE>
Section 3.14 COUNTERPARTS. This Agreement may be executed in any
number of counterparts and by the different parties hereto on separate
counterparts, each of which when so executed and delivered shall be an original
but all of which shall together constitute one and the same agreement. Delivery
of an executed counterpart of a signature page of this Agreement by facsimile
transmission shall be effective as delivery of a manually executed counterpart
of this Agreement.
Section 3.15. NO NOVATION. Neither this Agreement nor the execution,
delivery or effectiveness of the Amended and Restated Credit Agreement or the
Effectiveness Agreement shall extinguish the obligations for the payment of
money outstanding under the Credit Agreement or the Amended and Restated Credit
Agreement or discharge or release the Lien or priority of the Pledge Agreement
or any other security therefor. Nothing herein contained shall be construed as a
substitution or novation of the obligations outstanding under the Credit
Agreement or the Amended and Restated Credit Agreement or instruments securing
the same, which shall remain in full force and effect, except to any extent
modified hereby or by instruments executed concurrently herewith. Nothing
implied in this Agreement, the Effectiveness Agreement or in any other document
contemplated hereby or thereby shall be construed as a release or other
discharge of any Borrower or any Guarantor or any Subsidiary Pledgor or any
Pledgor or any party to the Indemnity, Subrogation and Contribution Agreement
under any Collateral Document from any of its obligations and liabilities as a
"Borrower", "Guarantor", "Subsidiary Guarantor", "Pledgor" or "party to the
Indemnity, Subrogation and Contribution Agreement" under the Credit Agreement or
the Collateral Documents. Each of the Credit Agreement and the Collateral
Documents shall remain in full force and effect, until (as applicable) and
except to any extent modified hereby or by the Effectiveness Agreement or in
connection herewith and therewith.
-7-
<PAGE>
IN WITNESS WHEREOF, each Reaffirming Party and Chase as Administrative
Agent and Collateral Agent for the benefit of the Lenders and the Fronting Banks
have caused this Agreement to be duly executed and delivered as of the date
first above written.
UCAR INTERNATIONAL INC.,
by: /s/ William P. Wiemels
----------------------
Name: William P. Wiemels
Title: Vice President, Chief Financial
Officer & Treasurer
UCAR GLOBAL ENTERPRISES INC.,
by: /s/ William P. Wiemels
----------------------
Name: William P. Wiemels
Title: Vice President, Chief Financial
Officer & Treasurer
UCAR CARBON COMPANY INC.,
by: /s/ William P. Wiemels
----------------------
Name: William P. Wiemels
Title: Vice President, Chief Financial
Officer & Treasurer
UCAR CARBON TECHNOLOGY
CORPORATION,
by: /s/ William P. Wiemels
----------------------
Name: William P. Wiemels
Title: Vice President, Chief Financial
Officer & Treasurer
-8-
<PAGE>
UCAR COMPOSITES INC.,
by: /s/ Karen G. Narwold
--------------------
Name: Karen G. Narwold
Title: Assistant Secretary
UCAR HOLDINGS INC.,
by: /s/ William P. Wiemels
----------------------
Name: William P. Wiemels
Title: Vice President, Chief Financial
Officer & Treasurer
UNION CARBIDE GRAFITO INC.,
by: /s/ James H. Wimer
------------------
Name: James H. Wimer
Title: V.P. - Finance & Treasurer
UCAR HOLDINGS II INC.,
by: /s/ William P. Wiemels
----------------------
Name: William P. Wiemels
Title: Vice President, Chief Financial
Officer & Treasurer
UCAR HOLDINGS III INC.,
by: /s/ William P. Wiemels
----------------------
Name: William P. Wiemels
Title: Vice President, Chief Financial
Officer & Treasurer
UCAR INTERNATIONAL TRADING INC.,
by: /s/ William P. Wiemels
----------------------
Name: William P. Wiemels
Title: Vice President, Chief Financial
Officer & Treasurer
-9-
<PAGE>
UCAR MEXICANA S.A. de C.V.,
by: /s/ William P. Wiemels
----------------------
Name: William P. Wiemels
Title: Vice President, Chief Financial
Officer & Treasurer
UCAR CARBON MEXICANA S.A. de C.V.,
by: /s/ William P. Wiemels
----------------------
Name: William P. Wiemels
Title: Vice President, Chief Financial
THE CHASE MANHATTAN BANK,
individually and as Administrative Agent
and Collateral Agent,
by: /s/ James H. Ramage
-------------------
Name: James H. Ramage
Title: Vice President
-10-
</TEXT>
</DOCUMENT>
|
https://www.sec.gov/Archives/edgar/data/798952/0000950117-97-001552-index.html
|
https://www.sec.gov/Archives/edgar/data/798952/0000950117-97-001552.txt
|
798952
|
MSU CORP
|
10-K
|
1997-09-26
|
1997-06-30
|
7
|
EXHIBIT 10.18
|
EX-10
|
28313
| null |
https://www.sec.gov/Archives/edgar/data/798952/0000950117-97-001552.txt
|
gs://sec-exhibit10/files/full/2a8edf741842150b8312223320dbcaf3bcf8cd2e.txt
|
txt_filing
|
{"Filing Date": "1997-09-26", "Accepted": "1997-09-26 00:00:00", "Documents": "8", "Period of Report": "1997-06-30", "SROs": "NONE"}
|
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>7
<DESCRIPTION>EXHIBIT 10.18
<TEXT>
<PAGE>
SERVICE AGREEMENT
-----------------
Dated this 29th Day of January, 1997 (the "Effective Date").
PARTIES
- -------
1. 'The Company': MSU (UK) Limited of Elder House, 525 to 528 Elder Gate,
Central Milton Keynes, England.
2. 'The Executive': G.J. Capaci of 2715 Amstel Way, Raleigh, North Carolina,
27613, U.S.A.
OPERATIVE PROVISIONS:
- ---------------------
1. INTERPRETATION
1.1 The headings and marginal headings to the clauses are for convenience
only and have no legal effect.
1.2 Any reference in this Agreement to any Act or delegated legislation
includes any statutory modification or re-enactment of it or the
provision referred to.
1.3 In this Agreement:
'THE BOARD' means the Board of Directors of the Company and includes
any committee of the Board duly appointed by it. 'GROUP COMPANY' means
any company which for the time being is a company having an ordinary
share capital (as defined in 'SS'832 of the Income and Corporation
Taxes Act of 1988) of which not less than 25 per cent is owned
directly or indirectly by the Company or its holding company applying
the provisions of 'SS'828 of the Income and Corporation
<PAGE>
<PAGE>
Taxes Act 1988 in the determination of ownership. 'MANAGING DIRECTOR'
means any person or persons jointly holding such office of the Company
from time to time and includes any person(s) exercising substantially
the functions of a Managing Director or Executive Officer of the
Company.
2. APPOINTMENT AND DURATION
2.1 The Company appoints the Executive and the Executive agrees to act as
Vice President of Business Development and Marketing. The Executive's
job description and objectives are as set out in Schedule 1 or,
subject to the agreement of the Executive, as shall from time to time
be directed by the Board. The Executive accepts that the Company may
in emergencies require him to perform other duties or tasks not within
the scope of his normal duties and the Executive agrees to perform
those duties or undertake those tasks as if they were specifically
required under this Agreement, provided that such duties will be
consistent with those of a senior executive and will not change the
person(s) to whom the Executive reports.
2.2 The appointment and this Agreement shall be deemed to have commenced
on the day immediately after the date upon which the Executive's
employment with IBM Corporation terminates, as indicated in a written
notice from the Executive to the Company, and shall continue (subject
to earlier termination as provided in this Agreement), unless either
party shall give 6 months written notice to the other
-2-
<PAGE>
<PAGE>
party whereupon the appointment and this Agreement will instead
terminate at the end of the 6 month notice period.
2.3 The Executive warrants that by virtue of entering into this Agreement
or the other agreements or arrangements made or to be made between the
Company or any Group Company and him he will not be in breach of any
express or implied terms of any contract with or of any other
obligation to any third party binding upon him.
3. DUTIES OF THE EXECUTIVE
3.1 The Executive shall at all times during the period of this Agreement:
3.1.1 devote the whole of his time, attention and ability as the Board
consider necessary to the duties of his appointment;
3.1.2 faithfully and diligently perform those duties and exercise such
powers consistent with them which are from time to time assigned
to or vested in him;
3.1.3 obey all lawful and reasonable directions of the Board;
3.1.4 use his best endeavors to promote the interests of the Company
and its Group Companies;
3.1.5 keep this Board promptly and fully informed (in writing if so
requested) of his conduct of the business or affairs of the
Company and its Group Companies and provide such explanations as
the Board reasonably may require;
-3-
<PAGE>
<PAGE>
3.1.6 not at any time make to the Board any untrue or misleading
statement relating to the Company or any Group Company.
3.2 The Executive shall (without further remuneration) if and for so long
as the Company require during the term of the Agreement;
3.2.1 carry out the duties of his appointment on behalf of any Group
Company;
3.2.2 act as an officer of any Group Company or hold any other
appointment or office on behalf of, or as nominee or
representative of the Company or any Group Company, unless the
Executive determines that such service would present an
unreasonable risk of liability to or damage to the reputation of
the Executive or that an unreasonable risk of bankruptcy of the
Group Company exists;
3.2.3 carry out such duties and the duties attendant upon any such
appointment as if they were duties to be performed by him on
behalf of the Company.
3.3 The Company hereby agrees to indemnify the Executive to the fullest
extent permissible under applicable law against any liability
(including reasonable legal fees and other expenses) for any act or
omission related to his service for the Company or any Group Company.
4. PLACE OF WORK
4.1 The Executive shall generally perform his duties from the place of
business of the Company in the United States of America. The Company
may reasonably require
-4-
<PAGE>
<PAGE>
the Executive to travel in the normal course of his duties, including
international travel, to other places of business of the Company or
of any Group Company.
4.2 If the Company and the Executive agree to change the Executive's place
of work such that the Executive has to relocate his residence, the
Company shall provide the Executive with a reasonable relocation
package as shall be negotiated by the Company and the Executive at the
time such change is contemplated.
5. PAY
5.1 During his appointment, the Company shall pay to the Executive:
5.1.1 a salary at the rate of $125,000 U.S. Dollars per year which
shall accrue day to day and be payable by equal monthly
installments in arrears. The salary shall be deemed to include
any fees receivable by the Executive as a Director of the
Company or any Group Company, or of any other company or
unincorporated body in which he holds office as nominee or
representative of the Company or any Group Company; and
5.1.2 an annual performance bonus based on criteria established by
agreement of the Company and the Executive within 60 days of the
Effective Date, which criteria may be modified by agreement of
the Company and the Executive; and
5.2 The Executive's salary shall be reviewed by the Board annually and the
rate of salary shall be increased by the Company in line with the
company salary review policy.
-5-
<PAGE>
<PAGE>
5.3 The Company will grant to the Executive nonqualified stock options as
described in Schedule 2 hereto.
6. PENSION
6.1 The Company will establish and maintain a retirement plan which is
qualified under section 401(a) of the U.S. Internal Revenue Code of
1986, as amended (the 'Code'), and under which the Company shall make
annual nondiscretionary contributions on the Executive's behalf in an
amount equal to 7.5% of the Executive's salary in effect for such year
and under which the Executive shall be entitled to elect salary
deferral contributions to the maximum extent permitted under the
applicable Code provisions. The Company shall make the annual
nondiscretionary contributions specified above in monthly installments
each equal to one-twelfth of the total amount of such nondiscretionary
contributions for the applicable year.
7. INSURANCE BENEFITS
7.1 The Company shall establish and maintain a private medical scheme that
provides benefits equivalent to those provided by IBM Corporation to
the Executive and his family at the time the Executive terminates
employment with IBM Corporation. The Executive shall be entitled to
participate in such scheme at the Company's expense for himself, his
spouse and dependent children, subject always to the rules of such
scheme.
-6-
<PAGE>
<PAGE>
7.2 For any period prior to the implementation of such a scheme the
Company shall reimburse the Executive for the total premium paid by
the Executive for continued coverage under the medical plan of his
prior employer for himself, his spouse and his dependent children. In
order to compensate the Executive for the taxes payable on such
reimbursement, the total amount of such reimbursement shall be
increased as follows: total reimbursement = total premium divided
by .6.
8. EXPENSE
8.1 The Company shall reimburse to the Executive on a monthly basis all
travelling, hotel, entertainment and other expenses reasonably
incurred by him in the proper performance of his duties subject to the
production to the Company of such vouchers or other evidence of actual
payment of the expenses as the Company may reasonably require.
8.2 Where the Company issues a company sponsored credit or charge card to
the Executive he shall use such card only for expenses reimbursable
under clause 8.1 above, and shall return it to the Company forthwith
on the termination of his employment.
8.3 All expenses in excess of $5,000 for any one event must be approved in
advance in writing by the Board.
-7-
<PAGE>
<PAGE>
9. HOLIDAY
9.1 In addition to public holidays, the Executive is entitled to 25
working days paid holiday in each calendar year. The Executive shall
not without the consent of the Board carry forward any unused part of
his holiday entitlement to a subsequent holiday year.
9.2 On termination of his appointment for whatever reason, the Executive
shall be entitled to pay in lieu of outstanding holiday entitlement
and shall not be required to repay to the Company any salary received
for holiday taken in excess of his actual entitlement. The basis for
payment and repayment shall be 1/253 of the Executive's annual salary
for each day.
10. INCAPACITY
10.1 If the Executive shall be prevented by illness (including mental
disorder), injury or other incapacity from properly performing his
duties hereunder he or his representative shall report this fact
forthwith to the Company Secretary's office and if the Executive is so
prevented for 30 or more consecutive business days he shall provide a
medical practitioner's statement on the 31st day and weekly thereafter
so that the whole period of incapacity is certified by such
statements.
10.2 If the Executive shall be absent from his duties hereunder due to
illness (including mental disorder), accident or other incapacity duly
certified in accordance with the provisions of sub-clause 10.1 hereof,
he shall be paid his full remuneration hereunder (including bonus and
commission) for up to 6 months' absence in any
-8-
<PAGE>
<PAGE>
period of 12 consecutive months and thereafter such remuneration, if
any, as the Board shall determine from time to time.
10.3 If the Executive shall be absent from his duties hereunder due to
illness (including mental disorder), injury or other incapacity for 30
or more consecutive business days, the Executive shall at the request
and expense of the Company permit himself to be examined by a
registered medical practitioner to be selected by the Company and
shall authorize such medical practitioner to disclose to and discuss
with the Company's medical advisor the results of such examination and
any matters which arise from it in order that the Company's medical
adviser can notify the Company of any matters which, in his opinion,
might hinder or prevent the Executive (if during a period of
incapacity) from returning to work for any period or (in other
circumstances) from properly performing any duties of his appointment
at any time.
11. TERMINATION OF AGREEMENT
11.1 Automatic Termination
This Agreement shall automatically terminate:
11.1.1 on the Executive reaching his 65th birthday; or
11.1.2 6 months after the Executive is provided with written notice
that he has become prohibited by law from being a Director; or
11.1.3 if he resigns his office
-9-
<PAGE>
<PAGE>
11.2 Suspension
In order to investigate a complaint against the Executive of
misconduct the Company is entitled to suspend the Executive on full
pay for so long as may be necessary to carry out a proper
investigation and hold a disciplinary hearing.
11.3 Immediate Dismissal
The Company may by notice terminate this Agreement with immediate
effect if the Executive:
11.3.1 commits any act of fraud, gross negligence, or willful
misconduct or repeats or continues (after written warning) any
other material or serious breach of his obligations under this
Agreement; or
11.3.2 is guilty of any conduct which in the reasonable opinion of the
Board brings him, the Company or any Group Company into serious
disrepute; or
11.3.3 is convicted of any criminal offense punishable with 6 months
or more imprisonment (excluding an offence under the road
traffic legislation for which he is not sentenced to any term
of imprisonment whether immediate or suspended); or
11.3.4 embezzles, or otherwise dishonestly takes for his own benefit,
any assets of the Company, any Group Company, or any of its or
their employees.
-10-
<PAGE>
<PAGE>
11.4 Immediate Termination by the Executive
The Executive may by notice terminate this Agreement with immediate
effect if the Company:
11.4.1 commits any material breach of the Company's obligations under
this Agreement; or
11.4.2 causes any material reduction in the level of responsibility,
status, office, title, reporting relationships, working
conditions, authority or duties of the Executive; or
11.4.3 files a petition relating to bankruptcy, insolvency,
reorganization, winding-up, liquidation or dissolution or is
the subject of any similar filing.
11.5 Dismissal on Short Notice
The Company may terminate this Agreement, notwithstanding clause
10.2, by not less than 6 months' prior notice given at any time while
the Executive is incapacitated by ill-health or accident from
performing his duties under this Agreement and has been so
incapacitated for a period or periods aggregating 6 calendar months in
the preceding 12 months. Provided that the Company shall withdraw any
such notice, with the consent of the Executive, if during the currency
of the notice the Executive returns to full time duties and provides a
medical practitioner's certificate satisfactory to the Board to the
effect that he has fully recovered his health and that no recurrence
of his illness or incapacity can reasonably be anticipated.
-11-
<PAGE>
<PAGE>
11.6 Pay In Lieu
On either party's serving 6 months' prior notice to terminate this
Agreement (as provided in sub-clause 2.2) or at any time thereafter
during the currency of such notice the Company shall pay to the
Executive his basic salary (at the rate then payable under clause 5
hereof) and all other compensation and benefits provided hereunder for
the unexpired portion of the duration of his appointment or
entitlement to notice as may be the case.
11.7 Miscellaneous
On the termination of this Agreement for whatever reason, the
Executive shall at the request of the Company resign (without
prejudice to any claims which the Executive may have against any
company arising out of this Agreement or the termination thereof) from
all and any offices which he may hold as a Director of the Company or
offices which he holds as nominee or representative of the Company or
any Group Company and if he would fail to do so within seven days the
Company is hereby irrevocably authorized to appoint some person in his
name and on his behalf to sign any documents or do any things
necessary or requisite to effect such resignations.
12. GENERAL
12.1 Other Terms
The provisions of the Company's standard terms and conditions of
employment (as amended from time to time) shall be terms of the
Executive's employment
-12-
<PAGE>
<PAGE>
except to the extent that they are unreasonable and/or inconsistent
with this Agreement.
12.2 Statutory Particulars
The further particulars of terms of employment not contained in the
body of this Agreement which must be given to the Executive in
compliance with Part 1 of the Employment Protection (Consolidation)
Act 1978 shall be set forth in a schedule attached hereto and agreed
to in writing by the Executive.
12.3 Prior Agreements
This Agreement sets out the entire agreement and understanding of the
parties and is in substitution for any previous contracts of
employment or for services between the Company or any of its Group
Companies and the Executive (which shall be deemed to have been
terminated by mutual consent).
12.4 Accrued Rights
The expiration or termination of this Agreement however arising shall
not operate to affect such of the provisions of this Agreement as are
expressed to operate or have effect after then and shall be without
prejudice to any accrued rights or remedies of the parties.
12.5 Proper Law
The validity construction and performance of this Agreement shall be
governed by the laws of the State of North Carolina without regard to
its principles of the choice of law or the conflict of laws.
-13-
<PAGE>
<PAGE>
12.6 Notices
Any notice to be given by a party under this Agreement must be in
writing and must be given by delivery at or sending first class post
or other faster postal service, or telex, facsimile transmission or
other means of telecommunication in permanent written form (provided
the addressee has his or its own facilities for receiving such
transmissions) to the last known postal address or relevant
telecommunications number of the other party. Where notice is given
sending in a prescribed manner it shall be deemed to have been
received when in the ordinary course of the means of transmission it
would be received by the dispatched. A notice shall have effect from
the sooner of its actual or deemed receipt by the addressee.
/s/ WILLIAM D. SNOWDEN (Secretary)
- ----------------------------------
FOR AND ON BEHALF OF
MSU CORPORATION
/s/ Gerald J. Capaci
- ------------------------------
MR. G. CAPACI
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<PAGE>
<PAGE>
SCHEDULE 1
JOB DESCRIPTIONS AND OBJECTIVES
YEAR 1
1. To organize an appropriate serviced office at reasonable local rates.
2. In line with a plan to be submitted to the Board for approval, to:
2.1 Maximize MSU product and technology sales in North America by closing
business with retail groups, OEM's and licensees as appropriate in
line with regional business plan;
2.2 to support/promote existing MSU customers in the region;
2.3 handle negotiations/customers in other territories by agreement with
the Board;
3. To maximize profitability of the North American region in line with the
approved regional business plan.
4. To propose, agree and implement such marketing and promotions plans as are
necessary to maximize MSU's regional sales revenues.
5. To prepare, and upon request present to the Board, comprehensive monthly
status reports.
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<PAGE>
<PAGE>
SCHEDULE 2
EXECUTIVE'S ENTITLEMENT TO SHARES
"Shares" are defined as shares of Common Stock of MSU Corporation of $0.01 each.
"Market Value" shall mean the last trading value, in U.S. Dollars, of the Shares
reported by NASDAQ, a successor to NASDAQ or any similar market system or
exchange or, if the Shares are not traded on any such system or exchange, fair
market value of the Shares within the meaning of Code section 422 and the rules
and regulations thereunder.
1. As soon as possible following the execution of this Agreement, the Company
shall grant to the Executive a nonqualified stock option to purchase
100,000 Shares at a price per Share equal to the Market Value on the date
of the grant; such option shall be fully vested upon grant and shall be
exercisable on or before the 5th anniversary of the Effective Date of this
Agreement.
2. As soon as administratively possible following the earlier of (i) the first
date following the first anniversary of the Effective Date of this
Agreement on which the Market Value is at least $15.00 per Share, or (ii)
the first date during the first year of this Agreement on which the Market
Value has been at least $15.00 per Share for a period of 30 consecutive
days, the Company shall grant to the Executive a nonqualified stock option
to purchase 100,000 Shares at a price per Share equal to 50% of the Market
Value on the applicable date specified in (i) or (ii) above; such option
shall be fully vested upon
-16-
<PAGE>
<PAGE>
grant and shall be exercisable on or before the 5th anniversary of the
applicable date specified in (i) or (ii) above.
3. As soon as administratively possible following the earlier of (i) the first
date following the second anniversary of the Effective Date of this
Agreement on which the Market Value is at least $20.00 per Share, or (ii)
the first date during the first year of this Agreement on which the Market
Value has been at least $20.00 per Share for a period of 30 consecutive
days, the Company shall grant to the Executive a nonqualified stock option
to purchase 100,000 Shares at a price per Share equal to 50% of the Market
Value on the applicable date specified in (i) or (ii) above; such option
shall be fully vested upon grant and shall be exercisable on or before the
5th anniversary of the applicable date specified in (i) or (ii) above.
4. Unless such Shares are registered under applicable state and federal
securities laws, acquisition of Shares will be for investment purposes
only.
5. In the event that:
5.1 this Agreement is terminated by the Company for any reason or by the
Executive as provided in Section 11.4 herein; and
5.2 the options described in clause 2 and/or 3 above have not yet been
granted; and
5.3 either a timing and/or Share pricing milestone described in clause 2
and/or 3 above is achieved within 6 months of the date of termination;
-17-
<PAGE>
<PAGE>
the Company shall grant to the Executive such option(s) as the Executive
would have been entitled to pursuant to clause 2 and/or 3 above if such
timing and/or Share pricing milestone had been achieved prior to the date
of such termination. Such option(s) shall be granted as soon as
administratively possible after the date on which the timing and/or Share
pricing milestone is achieved, such option(s) shall be fully vested at
grant, and the Executive shall be entitled to exercise such option at any
time and from time to time for a period of 5 years from the date of grant.
6. Notwithstanding any other provision of this Schedule 2, in the event of a
merger or consolidation to which the Company or MSU Corporation is a party
(other than as the surviving entity), or of any other acquisition of a
majority of the outstanding shares of the common stock of the Company or
MSU Corporation or of any transfer of all or substantially all of the
assets of the Company or MSU Corporation, or of the liquidation or
dissolution of the Company or MSU Corporation (any such event shall be
referred to herein as a "Transaction"), (i) if the option described in
clause 2 above has not yet been granted, the Company shall grant to the
Executive an option to purchase 100,000 Shares, and (ii) if the option
described in clause 3 above also has not yet been granted, the Company
shall grant to the Executive an option to purchase an additional 100,000
Shares. The option(s) described in (i) and/or (ii) above shall be granted
as of the effective date of the Transaction or such earlier date as may be
determined by the Company (the "Grant Date"), shall be fully vested and
exercisable at grant, shall contain
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<PAGE>
<PAGE>
a purchase price equal to 50% of the Market Value on the Grant Date, and
shall automatically terminate upon consummation of the Transaction.
7. The price and the number of Shares purchasable pursuant to any option
granted or to be granted pursuant to this Agreement shall be adjusted as
necessary to reflect any reclassification, change, conversion, subdivision,
combination, or stock dividend of or relating to the Shares.
-19-
<PAGE>
</TEXT>
</DOCUMENT>
|
https://www.sec.gov/Archives/edgar/data/36840/0001174947-15-000044-index.html
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https://www.sec.gov/Archives/edgar/data/36840/0001174947-15-000044.txt
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36840
|
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY
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10-K
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2015-01-14
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2014-10-31
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2
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EX-10.8
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EX-10.8
|
71102
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ex10-8.htm
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https://www.sec.gov/Archives/edgar/data/36840/000117494715000044/ex10-8.htm
|
gs://sec-exhibit10/files/full/554359a3907a6f43d305e38f06bc96e09dad0fff.htm
|
html
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{"Filing Date": "2015-01-14", "Accepted": "2015-01-14 10:35:13", "Documents": "14", "Period of Report": "2014-10-31"}
|
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>2
<FILENAME>ex10-8.htm
<DESCRIPTION>EX-10.8
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-weight: normal"> </FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-weight: normal">EXHIBIT 10.8</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>AMENDED AND RESTATED DEFERRED FEE
PLAN</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>ARTICLE I</B><BR>
<B><U>BACKGROUND, PURPOSE AND EFFECTIVE DATE</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 1.1</U> <U>Background and
Purpose of the Plan, Certain Definitions</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">First Real Estate Investment Trust of
New Jersey, a New Jersey business trust (the “Trust”), has established the Amended and Restated Officers and/or Trustees
Deferred Fee Plan (the “Plan”) to allow its Trustees the opportunity to defer payment of all or a portion of the fees
they receive for serving as an Officer and/or Trustee of the Trust.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 1.2</U> <U>Effective Date
and Term</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Plan was established and became
effective as of November 1, 2000, and was initially restated effective December 31, 2008 to comply with Section 409A of the Internal
Revenue Code of 1986, as amended (“Code”), and as such the Plan should be interpreted and construed consistent with
this intent. The Plan is amended and restated herein effective October 31, 2014. The Plan shall remain in effect until otherwise
amended or terminated by the Board of Trustees of the Trust. The Plan, as herein amended and restated, shall be deemed adopted
and approved by the Board of Trustees of the Trust as of, and the effective date of the Plan, as herein amended and restated, shall
be, October 31, 2014 (the “Effective Date”).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>ARTICLE II</B><BR>
<B><U>CONTRIBUTIONS; RESERVATION OF SHARES</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 2.1</U> <U>Deferred Fees</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">During the period in which this Plan
remains in effect, the Trust shall credit to the Cash Account, as hereinafter defined, of any Trustee who elects to participate
in this Plan (a “Participant”), the amount of future fees for service as a Trustee of the Trust that such Participant
elects in writing (on a “Deferral of Fees and Payment Election Form” provided by the Trust) to defer (hereinafter “Deferred
Fees”). On and after the Effective Date, all amounts previously deferred by a Participant prior to the Effective Date, including,
without limitation, amounts deferred for services as a Trustee or as an Officer of the Trust, shall be credited to the Participant’s
Cash Account (a Participant’s “Transferred Balance”). For the purpose of clarity, the Transferred Balance of
a Participant who served as an Officer of the Trust prior to the Effective Date may include deferrals of compensation payable to
such Participant for services as an Officer of the Trust; however, from and after the Effective Date, any Participant who is also
an Officer of the Trust shall not be permitted to defer under this Plan any amounts paid or payable to such Participant as compensation
for services as an Officer of the Trust. Each Trustee of the Trust can elect to defer all or a portion of his or her annual fees
and/or his or her meeting fees. Elections to defer shall be made prior to the calendar year for which they are effective, which
election shall include an election as to when the Participant’s benefits under the Plan shall commence. A Deferral of Fees
and Payment Election Form setting forth the election to defer must be delivered to the Trust on or before the December 31 of the
calendar year preceding the calendar year to which the election relates. An election to defer as set forth in the Deferral of Fees
and Payment Election Form shall be irrevocable with respect to the calendar year in which it applies, and shall be effective only
for that calendar year. A Participant who wishes to defer all or a portion of his or her annual fees and/or meeting fees for any
successive calendar year must make a new election pursuant to a Deferral of Fees and Payment Election Form for each successive
year in accordance with this Section 2.1 except to the extent set forth in the next sentence. In the event a Participant has elected
an in-service distribution date on a prior year’s Deferral of Fees and Payment Election Form and fails to file a new Deferral
of Fees and Election Form for the current deferral period so that the previously elected in-service distribution date is then twenty-four
(24) months or less from the current deferral period, the Participant will be deemed to have filed a new Deferral of Fees and Payment
Election Form for the current deferral period to have the amounts deferred for such period paid to him or her at retirement. The
crediting of the amounts deferred under this Plan shall be made on the date on which such amounts would otherwise have been paid
to the Participant.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 2.2</U> <U>Reservation of
Shares</U>. There shall be reserved for issuance under this Plan an indeterminate number of shares of the Trust’s beneficial
interest (“Common Shares”) to allow for the issuance of Common Shares to Participants with respect to the Share Units
(as hereinafter defined) credited to the Participants’ Share Unit Accounts (as hereinafter defined) from time to time as
specified in the Participants’ Deferral of Fees and Payment Election Forms.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>ARTICLE III</B><BR>
<B><U>ACCOUNTS AND MAINTENANCE</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 3.1</U> <U>Accounts</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">(a) <U>Cash Account</U>. The Trust shall
maintain for each Participant an account to which it shall credit all amounts allocated thereto in accordance with Section 2.1
(the “Cash Accounts”). Each Cash Account shall be credited with interest on the amount in such account at a rate equal
to a floating rate, adjusted quarterly, equal to the average interest rate on ten year Treasury bonds plus 150 basis points, credited
in arrears.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) <U>Share Unit
Account</U>. From and after the Effective Date, on the last day of each calendar quarter, the aggregate amount of deferred fees
pursuant to Section 2.1, but not the amount of a Participant’s Transferred Balance, and the interest accrued on each Cash
Account (the “Conversion Balance”), shall be converted into share units (“Share Units”) equivalent to Common
Shares. A Participant’s Transferred Balance shall not be converted into Share Units and shall remain in cash in the Participant’s
Cash Account. Such conversion of the Conversion Balance shall be determined by dividing the aggregate amount to be converted on
the last day of each calendar quarter by the Fair Market Value of one Common Share on the immediately preceding trading day. The
Trust shall maintain for each Participant an account to which the Trust shall allocate the number of Share Units for full Common
Shares so determined (the “Share Unit Account”), and the aggregate Fair Market Value of the Share Units so allocated
shall be charged to such Participant’s Cash Account to reduce the balance thereof, but not below the Participant’s
Transferred Balance.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c) In the event
that any cash dividend is paid by the Trust with respect to the Common Shares, each Participant’s Share Unit Account will
be credited with a number of Share Units equal to (x) the amount of the cash dividend paid with respect to one Common Share, (y)
multiplied by the total number of Share Units credited to the Participant’s Share Unit Account as of the record date for
such dividend, (z) divided by the Fair Market Value of one Common Share on the trading day immediately preceding the payment date
of such dividend. In the event that any dividend is paid with respect to the Common Shares by the Trust in Common Shares, additional
credits of Share Units shall be made to a Participant’s Share Unit Account equal to the number of full Common Shares that
the Participant would have received had he or she been the owner, on the record date for such dividend, of a number of Common Shares
equal to the number of Share Units in his or her Share Unit Account on such date. The Share Units credited to a Participant’s
Share Unit Account, together with the balance of a Participant’s Cash Account, shall be collectively referred to herein as
a Participant’s “Plan Benefits.”</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d) <U>Rights with
Respect to Share Units</U>. A Participant shall not have any rights as a shareholder (including, without limitation, the right
to vote on any matter subject to the approval of the shareholders of the Trust) with respect to the Share Units credited to his
or her Share Unit Account, except the right to receive credits for dividends paid with respect to the Common Shares as described
in Section 3.1(b) above, nor shall a Participant have the right to transfer or otherwise dispose of any Share Units, until such
time as such Share Units are issued to the Participant as Common Shares pursuant to the terms of this Plan.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e) Neither a Cash
Account nor a Share Unit Account constitutes a trust fund or escrow. No funds or Common Shares shall be set aside or earmarked
for any Cash Account or Share Unit Account, and such accounts shall be solely bookkeeping devices.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 3.2</U> <U>Vesting</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">At all times a Participant shall have
a 100% nonforfeitable right to the amounts credited to his or her Cash Account and the Common Shares credited as Share Units to
his or her Share Unit Account, provided that neither a Participant nor his or her Beneficiary shall be entitled to receive any
amount in the Participant’s Cash Account or any Common Shares credited as Share Units to the Participant’s Share Unit
Account if it is determined at any time that such Participant engaged in a dishonest act in the Participant’s relationship
with the Trust, in the sole discretion of the Board of Trustees of the Trust.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>ARTICLE IV</B><BR>
<B><U>BENEFITS</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 4.1</U> <U>Payment of Benefits</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) <U>Payment
At Retirement Age Election</U>. At the time of entering into a deferral election, a Participant may elect to receive his or her
Plan Benefits either at the retirement age specified by the Participant in his or her Deferral of Fees and Payment Election Form,
or actual retirement, whichever occurs earlier (the “Payment Date”). On the Payment Date, (i) the Conversion Balance
shall be converted using the Fair Market Value of the Common Shares on the immediately preceding trading day, and the resulting
Share Units shall be credited to the Participant’s Share Unit Account, (ii) the remaining balance of the Participant’s
Cash Account after such conversion (and reduction) shall be paid to the Participant in a lump sum, or in a number of substantially
equal annual installments (not to exceed 10), as elected by a Participant at the same time and in the same manner as the election
to defer is made pursuant to Section 2.1 on the Deferral of Fees and Payment Election Form, and (iii) the Trust shall issue to
the Participant a number of Common Shares equal to the number of Share Units credited to the Participant’s Share Unit Account
as of the Payment Date, including the Share Units credited to the Share Unit Account pursuant to clause (i) of this Section 4.1(a).</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) <U>Special
Rule for Participants Who are Officers</U>. A Participant who is an Officer of the Trust who retires as an Officer on the last
day of the Trust’s fiscal year shall receive payment of any Plan Benefits that such Participant is otherwise entitled to
receive during the fiscal year in which retirement occurs, in the following fiscal year, notwithstanding the payment election made
by such Participant. A Participant who is an Officer of the Trust who retires as an Officer prior to the last day of the Trust’s
fiscal year shall be entitled to receive payment of his or her Plan Benefits in the same fiscal year during which the Participant
retires in accordance with the Participant’s payment election.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c) <U>Payment
Upon Cessation of Service as a Trustee Election.</U> Following a Participant’s cessation of service as a Trustee for any
reason prior to retirement (as set forth in Section 4.1(a) above) or death (the date of which shall be referred to as the “Date
of Cessation”), (i) the Conversion Balance shall be converted into Share Units using the Fair Market Value of the Common
Shares on the trading day immediately preceding the Date of Cessation, and the resulting Share Units shall be credited to the Participant’s
Share Unit Account, (ii) the Trust shall pay to the Participant the remaining balance of the Participant’s Cash Account (after
the reduction of the balance thereof as a result of the conversion described in clause (i) above), either in a lump sum, or in
a number of substantially equal annual installments (not to exceed 10), as elected by a Participant at the same time and in the
same manner as the election to defer is made pursuant to Section 2.1 on the Deferral of Fees and Payment Election Form, and (iii)
the Trust shall issue to the Participant a number of Common Shares equal to the number of Share Units credited to the Participant’s
Share Unit Account as of the Date of Cessation.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d) <U>In-Service
Distributions Payment Election</U>. At the time of entering into a deferral election, a Participant may elect to receive all or
a part of his or her Plan Benefits as an in-service distribution at some designated time in the future, provided that the in-service
distribution date shall be no earlier than the January 1<SUP>st</SUP> of the calendar year that is at least two (2) years following
the year for which the deferral election is made. Deferred Fees for which a specific in-service distribution year (“In-Service
Distribution Year”) is elected shall be allocated to a Cash Account that will be maintained separately from the Cash Account
maintained under (a) or (c) above, and Share Units credited to the Participant with respect to the Conversion Balance shall be
credited to a Share Unit Account that will be maintained separately from the Share Unit Account maintained under (a) or (c) above.
If amounts are deferred in two (2) or more separate calendar years but are designated for distribution in the same In-Service Distribution
Year, then such amounts shall be allocated to the same Cash Account. Upon attainment of the In-Service Distribution Year, Plan
Benefits designated for the in-service distribution shall be paid to the Participant as follows: (i) the Conversion Balance designated
for such In-Service Distribution Year shall be converted using the Fair Market Value of the Common Share on the last trading day
of the In-Service Distribution Year, and the resulting Share Units shall be credited to the Participant’s Share Unit Account,
(ii) the remaining balance of the Cash Account designated for such In-Service Distribution Year shall be paid to the Participant,
either in a lump sum (after the reduction of the balance thereof as a result of the conversion described in clause (i) above, if
any), or in a number of substantially equal annual installments (not to exceed 10), as elected by a Participant at the same time
and in the same manner as the election to defer is made pursuant to Section 2.1 on the Deferral of Fees and Payment Election Form,
and (iii) the Trust shall issue to the Participant a number of Common Shares equal to the number of Share Units credited to the
Participant’s Share Unit Account designated for such In-Service Distribution Year.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e) <U>Payment
on a Change in Control Election</U>. A Participant may also elect that all of the amounts then allocated to the Participant’s
Cash Account(s) and Share Unit Account(s) be distributable to the Participant upon a Change in Control of the Trust. The existence
of a Change in Control event shall be determined by the Committee in accordance with Section 409A of the Code and the guidance
and Regulations issued thereunder.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f) <U>Benefit
Payment Restrictions</U>. Notwithstanding anything to the contrary, the time or schedule of any payment or amount scheduled to
be paid pursuant to the terms of this Plan may not be modified except as otherwise permitted under Section 409A of the Code and
the guidance and Regulations issued thereunder. In addition, if applicable, and to the extent required under Section 409A of the
Code (and the guidance and Regulations issued thereunder), no payment shall be made to a Participant if he or she is a specified
employee/key employee (within the meaning of Section 409A of the Code and Regulation Section 1.409A-1(i)) sooner than six (6) months
after the date of his or her separation from service with the Trust (within the meaning of Regulation Section 1.409A-1(h)).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g) <U>Change in
Payment Election</U>. Notwithstanding the preceding provisions of this Section 4.1 to the contrary, a Participant may subsequently
elect, in such form and manner as prescribed by the Committee, that the benefits credited to one or more of his or her Cash Account(s)
and Share Unit Account(s) be distributed commencing on a date later than that originally selected, provided that any such election
is modified at least twelve (12) months (and more than one calendar year) prior to (i) the date payments would otherwise commence;
(ii) the Participant is still a member of the Board of the Trust; and (iii) the length of the postponement be for at least an additional
five (5) years from the date the payment otherwise would have been paid.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 4.2</U> <U>Upon Death</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) <U>Prior to
Commencement of Payment of the Benefit</U>. In the event of a Participant’s death prior to the commencement of payment of
the Plan Benefits under Section 4.1, the Trust shall pay the Plan Benefit to the Participant’s Beneficiary, in a lump sum
payment or in that number of substantially equal annual payments (not to exceed 10) as elected by the Participant at the same time
and in the same manner as the election to defer is made pursuant to Section 2.1 in the Participant’s Deferral of Fees and
Payment Election Form. The Survivor Benefit shall be payable at the time specified in the Deferral of Fees and Payment Election
Form.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) <U>After Commencement
of Payment of the Benefit</U>. In the event of the death of a Participant after commencement of the Payment of the Plan Benefit
under Section 4.1, the Trust shall continue Payment of the remaining Plan Benefits to the Participant’s Beneficiary in the
same manner and at the same times as if the Participant had not died.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 4.3</U> <U>Unforeseeable
Emergency</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) In the case
of an Unforeseeable Emergency, as defined below, a Participant may submit a written request to the Committee for (1) a distribution
of all or a part of his or her Cash Account(s) and Share Unit Account(s) prior to the date benefits otherwise would be payable,
or (2) an acceleration of the payment of installment payments which have already begun. Withdrawals or acceleration because of
an Unforeseeable Emergency shall be permitted only to the extent reasonably necessary to satisfy the emergency.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) An Unforeseeable
Emergency is a severe financial hardship resulting from extraordinary and unforeseeable circumstances arising as a result of one
or more recent events beyond the control of the Participant and as defined in Regulation Section 1.409A-3(i)(3). The need to send
the Participant’s child to college or the desire to purchase a residence will not be considered Unforeseeable Emergencies.
Withdrawals will not be permitted to the extent such emergency is or may be relieved: (a) through reimbursement or compensation
by insurance or otherwise or (b) by liquidation of the Participant’s assets, to the extent the liquidation of such assets
would not itself cause severe financial hardship.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -1in"><U>Section 4.4</U> <U>Distribution
Upon Determination that the Participant is not Exempt</U> <U>Under ERISA</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If it is determined that the Participant
is not a “management or highly compensated employee” within the meaning of Section 201(2) of the Employee Retirement
Income Security Act (“ERISA”), by a opinion of the United States Department of Labor, a decision of a court of competent
jurisdiction, or the reasonable opinion of the Trust’s counsel, the Trust shall cause an immediate distribution of the Participant’s
Cash Account(s) and Share Unit Account(s) as if the Participant had attained the designated distribution date as elected on his
or her Deferral of Fees and Payment Election Form and that the method of distribution elected was in the form of a lump sum.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><U>Section 4.5</U> <U>Distribution
Upon Determination of Taxability</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) If it shall
be determined that any Participant entitled to benefits under the Plan is subject to federal or state income taxes on benefits
accruing to him or her under the Plan in a calendar year prior to the calendar year of his or her receipt of such benefits (pursuant
to Section 409A of the Code or due to a change in the federal tax or revenue laws, a published ruling or similar announcement issued
by the Internal Revenue Service, a Regulation issued by the Secretary of Treasury, a decision by a court of competent jurisdiction
involving the Participant, or a closing agreement made pursuant to Section 7121 of the Code that is approved by the Internal Revenue
Service and specifically involves the Participant, or with respect to state income taxation, any relevant state law, regulation,
ruling, announcement, court decision or settlement agreement involving the Participant and the state taxing authority), then, within
thirty (30) days after the Administrator has learned of the incidence of such taxation, the Trust shall cause a distribution to
be made to the Participant from his or her Cash Account(s) and/or an issuance of Common Shares with respect to the Share Units
credited to the Participant’s Share Unit Account(s), in an amount equal to the maximum marginal individual federal and state
income tax rate for the year of inclusion multiplied by an amount subject to such federal or state income taxation. If all or part
of the distribution is to be made from a Participant’s Share Unit Account(s), the Trust shall issue to the Participant a
number of Common Shares with a Fair Market Value on the trading day immediately preceding the date of such distribution equal to
the amount of such distribution with a corresponding number of Share Units deducted from the Share Unit Account. Notwithstanding
the preceding sentence, any such distribution and/or issuance shall not be made to a Participant subject to taxation unless he
or she acknowledges to the Trust that such distribution and/or issuance will reduce/be taken from his or her Cash Account(s) and/or
Share Unit Account(s), respectively.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) The Trust may
also accelerate the time or schedule of payments from a Participant’s Cash Account(s) and/or issuances of Common Shares with
respect to the Share Units credited to the Participant’s Share Unit Account(s), to pay the Federal Insurance Contribution
Act (“FICA”) tax imposed under Sections 3101, 3121(a) or 3121(v)(2) of the Code or to pay the income tax at the source
on wages imposed under Section 3401 of the Code or the corresponding withholding provisions of applicable state law. If the time
or schedule of issuances of Common Shares with respect to a Participant’s Share Unit Account is to be accelerated, the acceleration
shall relate to issuances of Common Shares with an aggregate Fair Market Value on the trading day immediately preceding the date
of such acceleration equal to the amount of the FICA tax so imposed, and a corresponding number of Share Units shall be deducted
from the Share Unit Account. Notwithstanding the above, the total payment from a Participant’s Cash Account(s) and/or issuance
of Common Shares with respect to the Share Units credited to the Participant’s Share Unit Account(s) under this subparagraph
may not exceed the aggregate FICA amount and the income tax withholding related to the FICA amounts. Notwithstanding the above,
any such distribution and/or issuance shall not be made unless the Participant acknowledges to the Trust that such distribution
and/or issuance will reduce/be taken from his or her Cash Account(s) and/or Share Unit Account(s), respectively.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>ARTICLE V</B><BR>
<B><U>ADMINISTRATION</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><U>Section 5.1</U> <U>Administrator</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Plan shall be administered by the
Board of Trustees of the Trust or the Compensation Committee of the Board of Trustees (hereinafter, in either case, the “Administrator”).
The Administrator shall be authorized to interpret the Plan and to make decisions regarding any questions arising thereunder. Any
such interpretation or decision of the Administrator shall, unless overruled or modified by the Board of Trustees, be final, conclusive
and binding upon all Participants and upon any person claiming benefits or rights under the Plan by or through any such individual.
No member of the Board of Trustees or Compensation Committee serving as the Administrator shall be entitled to act on or decide
any matter relating solely to himself or herself or any of his or her rights or benefits under the Plan. The Administrator may,
in its discretion, designate a person or persons to carry out such duties or functions as the Administrator determines. Notwithstanding
any provision of the Plan to the contrary, if the Administrator is the Compensation Committee, any duty or function which may be
performed by the Compensation Committee may instead be performed by the Board of Trustees if the Board of Trustees so determines
in its sole discretion.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><U>Section 5.2</U> <U>Plan
Intent and Interpretation</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Plan is intended to be, to the maximum
extent possible and permitted under applicable laws, an unfunded non-qualified benefit plan maintained primarily for the purpose
of providing deferred compensation for management/highly compensated employees, as contemplated by Sections 201(2), 301(a)(3) and
401(a)(1) of ERISA. The Plan is not intended to comply with the requirements of Section 401(a) of the Code or to be subject to
parts 2, 3 and 4 of Title I of ERISA. The Plan shall be administered by the Administrator so as to effectuate this intent. Furthermore,
the Plan is intended to be a non-qualified deferred compensation plan as described in Section 409A of the Code and it is intended
that it shall be operated, administered and construed to give effect to such intent.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>ARTICLE VI</B><BR>
<B><U>AMENDMENT, SUSPENSION OR TERMINATION</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 6.1</U> <U>Amendment, Suspension
or Termination</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Board of Trustees of the Trust may
amend, suspend or terminate this Plan, in whole or in part, at any time and from time to time by resolution adopted at a regular
or special meeting of such Board, and only in such manner. Notwithstanding the above, the Trust reserves the right to amend this
Plan at any time to comply with Section 409A of the Code and the guidance and Regulations issued thereunder or for any other purpose,
provided that such amendment will not result in taxation to or of any Participant under Section 409A of the Code. The Trust also
reserves the right to terminate the Plan at any time to comply with Section 409A of the Code if it is terminating all of the Trust’s
like kind plans pursuant to Regulation Section 1.409A-1(c)(2).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 6.2</U> <U>No Reduction</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No amendment, suspension or termination
shall operate to adversely affect the existing Plan Benefits accrued for any Participant who is in service or the Plan Benefits
otherwise available to a Participant if the Participant had ceased to be an Officer and/or Trustee as of the effective date of
such amendment, suspension, or termination. Any Plan Benefits determined as of such date shall continue to be payable as provided
in Article IV.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>ARTICLE VII</B><BR>
<B><U>MISCELLANEOUS PROVISIONS</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 7.1</U> <U>Beneficiary</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">“Beneficiary” shall mean
any one or more persons, corporations or trusts, or any combination thereof, last designated by a Participant to receive the Plan
Benefits provided under this Plan. Any designation made hereunder shall be revocable, shall be in writing either on a facsimile
of the form annexed hereto as <U>Schedule 1</U> or in a written instrument containing the information requested in <U>Schedule
1</U>, and shall be effective when delivered to the Trust at its principal office. If the Trust in its sole discretion determines
that there is not a valid designation, the Beneficiary shall be the executor or administrator of the Participant’s estate.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 7.2</U> <U>Nonassignability</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The interest of any person under this
Plan (other than the Trust) shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge,
attachment or encumbrance, or the claims of creditors of such person, and any attempt to effectuate any such actions shall be void.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 7.3</U> <U>Interest of Participant</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) A Participant
and any Beneficiary shall be, in respect to the Cash Account(s), Share Unit Account(s) and any Plan Benefits to be paid, and shall
remain, simply a general unsecured creditor of the Trust in the same manner as any other creditor having a general claim for compensation,
if and when the Participant’s or Beneficiary’s rights to receive the Plan Benefits shall mature and become payable.
As such, the Trust’s obligation to a Participant and his or her Beneficiary under this Plan shall be a general unsecured
contractual obligation of the Trust and neither the Participant nor his or her Beneficiary shall have at any time any right, title
or interest, legal or equitable, security lien or other proprietary interest in or to any asset of the Trust, including, but not
limited to, any amounts credited to the Cash Account(s) and the shares of Common Share credited as Share Units to the Share Unit
Account(s).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) <U>Unfunded
Plan</U>. For purposes of the Code and ERISA, this Plan shall be considered unfunded. Accordingly, any Plan Benefits to be provided
under this Plan are unfunded obligations of the Trust. Any payment under this Plan shall be made from the general funds of the
Trust and nothing in this Plan shall require the Trust to segregate any monies from its general funds, to create any trust, or
to make any special deposits, or to purchase any policies of insurance or other investment vehicles with respect to such obligations.
If the Trust elects to purchase individual policies of insurance on any Participant or segregate funds to invest in other investment
vehicles to help finance any of the obligations under the Plan, such policies and/or investment vehicles and the proceeds therefrom
shall, at all times remain the sole property of the Trust, and neither the Participants or their Beneficiaries shall have any ownership
rights to such policies of insurance or other investment vehicles.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Participant entitled to Plan Benefits
has the status of a general unsecured creditor of the Trust and this Plan constitutes a mere promise by the Trust to make benefit
payments in the future. If the Trust should transfer to a trust any assets which could in the future be used to pay Plan Benefits,
such trust created by the Trust and any assets held by the trust to assist the Trust in meeting its obligations under this Plan
will conform to the terms of the model trust described in Revenue Procedure 92-64. Except with respect to transfers to such a trust,
if applicable, no provisions shall at anytime be made with respect to segregating assets of the Trust for payment of Benefit Payments
under the Plan. In addition, nothing contained in this Plan shall constitute a guaranty by the Trust or any other entity or individual
that the Trust’s assets will be sufficient to pay benefits under this Plan.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 7.4</U> <U>Withholding</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Trust shall have the right to deduct
or withhold from the Plan Benefits paid under this Plan all taxes which may be required to be deducted or withheld under any provision
of law (including, but not limited to, FICA Tax payments, income tax withholding and any other deduction or withholding required
by law) now in effect or which may become effective any time during the term of this Plan.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 7.5</U> <U>Exclusivity of
Plan</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This Plan is intended solely for the
purpose of deferring fees to the Participants to the mutual advantage of the parties. Nothing contained in this Plan shall in any
way affect or interfere with the right of a Participant to participate in any other benefit plan in which he or she may be entitled
to participate.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 7.6</U> <U>No Right to Continued
Service</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This Plan shall not confer any right
to continued service on a Participant of the Trust.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 7.7</U> <U>Notice</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each notice and other communication
to be given pursuant to this Plan shall be in writing and shall be deemed given only when (a) delivered by hand, (b) transmitted
by facsimile (provided that a copy is sent at approximately the same time by registered or certified mail, return receipt requested),
(c) received by the addressee, if sent by registered or certified mail, return receipt requested, or (d) by Express Mail, Federal
Express or other overnight delivery service, to the Trust at its principal office and to a Participant at the last known address
of such Participant (or to such other address or facsimile number as a party may specify by notice given to the other party pursuant
to this Section).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 7.8</U> <U>Compliance with
Code</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Participants and the Trust intend
that this Plan, in form and operation, comply with Section 409A of the Code and the Regulations issued thereunder. The Trust and
the Administrator will at all times interpret the Plan’s terms in a manner which is consistent with all applicable laws and
Regulations; however, as required under Regulation Section 1.409A-1(c)(1), the interpretation of the Plan does not permit the deletion
of material terms which are expressly contrary to Section 409A of the Code and the Regulations issued thereunder and also does
not permit the addition of missing terms necessary to comply thereunder. Such deletion or addition may be accomplished only in
the form of a Plan amendment in accordance with Section 6.1 of the Plan.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 7.9</U> <U>New Jersey Law
Controlling</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This Plan shall be construed in accordance
with the laws of the State of New Jersey.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><U>Section 7.10</U> <U>Binding on Successors</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This Plan shall be binding upon the
Participants and the Trust, and their heirs, successors, legal representatives and assigns.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"> </P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">FIRST REAL ESTATE INVESTMENT TRUST OF
NEW JERSEY</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">_____________________</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Deferral of Fees and Payment Election
Form</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">_____________________</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 2.25in; padding-bottom: 0; text-align: left; vertical-align: bottom">Name:</TD>
<TD STYLE="width: 3.5in; padding-bottom: 0; border-bottom: Black 1pt solid"> </TD>
<TD STYLE="padding-bottom: 0"> </TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 0; text-align: left; vertical-align: bottom">Address:</TD>
<TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 0"> </TD>
<TD STYLE="padding-bottom: 0"> </TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 0; text-align: left; vertical-align: bottom"> </TD>
<TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 0"> </TD>
<TD STYLE="padding-bottom: 0"> </TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 0; text-align: left; vertical-align: bottom">Telephone (daytime):</TD>
<TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 0"> </TD>
<TD STYLE="padding-bottom: 0"> </TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 0; text-align: left; vertical-align: bottom">Social Security Number:</TD>
<TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 0"> </TD>
<TD STYLE="padding-bottom: 0"> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 12pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">I.</TD>
<TD><U>Deferral of Fees Election</U>:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">I elect to defer the following fees in the following amounts
or percentages:</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 2.25in; padding-bottom: 0; text-decoration: underline"><U>TYPE OF FEE</U></TD>
<TD STYLE="width: 0.25in; padding-bottom: 0"> </TD>
<TD STYLE="width: 0.25in; padding-bottom: 0"> </TD>
<TD STYLE="padding-bottom: 0; text-decoration: underline; text-align: center"><U>AMOUNT OR PERCENTAGE DEFERRED</U></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 0">Trustee’s annual fee</TD>
<TD STYLE="padding-bottom: 0; border-bottom: Black 1pt solid"> </TD>
<TD STYLE="padding-bottom: 0"> </TD>
<TD STYLE="padding-bottom: 0; border-bottom: Black 1pt solid"> </TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-bottom: 0">Trustee’s meeting fee</TD>
<TD STYLE="padding-bottom: 0; border-bottom: Black 1pt solid"> </TD>
<TD STYLE="padding-bottom: 0"> </TD>
<TD STYLE="padding-bottom: 0; border-bottom: Black 1pt solid"> </TD></TR>
<TR STYLE="vertical-align: top">
<TD COLSPAN="4" STYLE="padding-bottom: 0">Date of this election: __________________</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>
<!-- Field: Page; Sequence: 12; Value: 67 -->
<DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->78<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"> </TD></TR></TABLE></DIV>
<!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">II. <U>Benefit Payment Elections</U>:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">With respect to the fees deferred pursuant to my Deferral
of Fees dated ______________, I _________________________, hereby elect to have my Plan Benefit commence and the form of Plan Benefit
payment to be as follows (Complete 1 or 2 plus 3 and 4):</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: -0.5in">1. (a) <U>Retirement Benefit</U>.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">I elect to receive my Plan Benefits as follows:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">Benefit to commence: At retirement age of _____,
or actual retirement, if later.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 279pt; text-indent: -243pt">Benefit to be paid: (check one)
[___] Lump sum [___] Installments over ___ years (not to exceed 10).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"> (b) <U>Termination of Benefit</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">If my service as a trustee of the Trust ceases before
I am eligible to retire, I elect to receive my benefit as follows:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 279pt; text-indent: -243pt">Benefit to commence: [___]
At termination [___] At the retirement age set forth above.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 279pt; text-indent: -243pt">Benefit to be paid: (check one)
[___] Lump sum [___] Installments over ___ years (not to exceed 10).</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD><U>In-Service Distribution</U></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">I elect to receive my Plan benefits during service
as follows:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">Benefit to commence in ___ calendar years (must be
at least 2 calendar years <U>after</U> the year for which deferrals are made).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 279pt; text-indent: -243pt">Benefit to be paid: (check one)
[___] Lump sum [___] Installments over ___ years (not to exceed 10).</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD><U>Survivor Benefit</U></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">If my death occurs prior to commencement of my retirement
benefits, I elect to have survivor benefits paid as follows:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 279pt; text-indent: -243pt">Benefit to commence: [___]
Immediately [___] When it would have been otherwise paid to me as elected above.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">I designate the following as my beneficiary: ___________________________________</P>
<!-- Field: Page; Sequence: 13; Value: 67 -->
<DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->79<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"> </TD></TR></TABLE></DIV>
<!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in"></P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD><U>Change in Control</U></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">If a Change in Control occurs, I elect to receive my
Plan Benefits as follows:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 279pt; text-indent: -243pt">Benefit to commence: [___]
Immediately [___] When it would have been otherwise paid to me as elected above.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 279pt; text-indent: -243pt">Benefit to be paid: [___] Lump
sum [___] Installments over ___ years (not to exceed 10).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">I understand that if I defer the date at which a Plan Benefit
is to commence, the change shall supersede the date of payment herein selected. Any such change must be made on forms provided
by the Company and must be made at least twelve (12) months (and more than one calendar year) prior to the date payments would
otherwise commence (and the Change must defer Plan Benefit Payment no less than five (5) years from the date Plan Benefits were
originally scheduled to commence.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Trustee’s Signature: ______________________</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Received by: (Signature): ________________________________</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Date: ___________________ Title: _______________________</P>
<!-- Field: Page; Sequence: 14; Value: 67 -->
<DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->80<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"> </TD></TR></TABLE></DIV>
<!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">FIRST REAL ESTATE INVESTMENT TRUST OF
NEW JERSEY</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">_____________________</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Change of Payment Election Form</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">_____________________</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">With respect to the fees deferred pursuant to my Deferral
of Fees and Payment Election Form dated _____________, I, ________________, hereby elect to change the date at which my Plan Benefit
is to commence as follows to a date which is at least five (5) years later than the date when any Plan Benefits were originally
scheduled to commence:</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD><U>Retirement Benefit</U></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">I elect to receive my Plan Benefits as follows:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">Benefit to commence: At retirement age of ___, or
actual retirement, if later but in no event earlier than five (5) years from the date when the applicable Plan Benefits were originally
scheduled to be paid.</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD><U>In-Service Distribution</U></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">I elect to receive my Plan Benefit during service as
follows:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">Benefit to commence on a date in ___ calendar year
(which is at least five (5) years later than the date originally selected for any In-Service Distribution Plan Benefits to commence.)</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">I understand that any change in the date at which a Plan
Benefit is to commence shall supersede the date of payment previously selected, provided it is made at least twelve (12) months
(and more than one calendar year) prior to the date payments would otherwise commence and the change must defer the payment date
of any Plan Benefits at least five (5) years from the date on which any Plan Benefits were originally scheduled to be paid.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt">Dated: </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"> Trustee’s Signature: ____________________</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>
<!-- Field: Page; Sequence: 15; Value: 67 -->
<DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->81<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
<DIV STYLE="margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"> </TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>
<P STYLE="margin: 0"></P>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
|
https://www.sec.gov/Archives/edgar/data/791908/0001558370-21-002676-index.html
|
https://www.sec.gov/Archives/edgar/data/791908/0001558370-21-002676.txt
|
791908
|
XOMA Corp
|
10-K
|
2021-03-10
|
2020-12-31
|
5
|
EX-10.58
|
EX-10.58
|
33111
|
tmb-20201231xex10d58.htm
|
https://www.sec.gov/Archives/edgar/data/791908/000155837021002676/tmb-20201231xex10d58.htm
|
gs://sec-exhibit10/files/full/e496990c18a28e63d35ebe1b9be6aa2b0f3f73da.htm
|
html
|
{"Filing Date": "2021-03-10", "Accepted": "2021-03-10 08:32:42", "Documents": "135", "Period of Report": "2020-12-31"}
|
<DOCUMENT>
<TYPE>EX-10.58
<SEQUENCE>5
<FILENAME>tmb-20201231xex10d58.htm
<DESCRIPTION>EX-10.58
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.9.1.77--><!--Created on: 3/10/2021 01:30:37 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title>JMB Comments to Viventia - XOMA Upstream License Side Letter Agreement (07.19 (04408292).DOCX</title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;min-height:36pt;width:100%;"><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:fixed;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:52.3%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Calibri Light';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';line-height:1;">, General Counsel</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="display:block;height:1px;left:0pt;position:absolute;width:100%;z-index:0;">‌</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"></font><font style="margin-right:0pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.37;margin:0pt 0pt 10pt 0pt;"><font style="font-size:1pt;visibility:hidden;">​</font></p></div></div></td><td style="vertical-align:top;width:47.69%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.37;margin:0pt 0pt 10pt 0pt;"><font style="font-size:1pt;visibility:hidden;">​</font></p></div></div></td></tr><tr><td style="vertical-align:top;width:52.3%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Mark R. Sullivan, General Counsel</font></p><p style="font-family:'Calibri Light';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Office: 215.586.7565 </font></p><p style="font-family:'Calibri Light';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Mobile: 856.912.1460</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:left;">[email protected]</font><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:left;"><font style="white-space:pre-wrap;"> </font></font></font><font style="display:block;height:1px;left:0pt;position:absolute;width:100%;z-index:0;">‌</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"></font></p></td><td style="vertical-align:top;width:47.69%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:right;margin:0pt;"><img src="tmb-20201231xex10d58001.jpg" alt="Graphic" style="display:inline-block;height:59.35pt;width:100.8pt;"></p></td></tr></table></div><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.37;margin:0pt 0pt 10pt 0pt;"><font style="visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">​</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:right;text-indent:36pt;margin:1.45pt 5pt 0pt 180pt;"><a name="_Hlk45812137"></a><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;">Exhibit 10.58</b></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-indent:36pt;margin:1.45pt 5pt 0pt 180pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-indent:36pt;margin:1.45pt 5pt 0pt 180pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">July 24, 2020</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:12.25pt;margin:0pt 0pt 0pt 2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12.25pt;line-height:1.37;margin-bottom:10pt;margin-left:0pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Via Email</b><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;">: </b><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">[email protected]</font><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;"> & </font><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">[email protected]</font><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;"> </b></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">Jim Neal, CEO</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">Bob Maddox, Corporate Counsel</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">XOMA Corporation</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">2200 Powell Street, Suite 310</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">Emeryville, CA 94608</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;padding-left:36pt;text-indent:-36pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;visibility:hidden;">​</font></p><table border="0" cellpadding="0" cellspacing="0"><tr><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;">Re:</b></p></td><td style="padding:0pt;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">Non-Exclusive License Agreement, dated as of November 30, 2001 (the “</font><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;">Agreement</b><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">”), by and between XOMA (US) LLC as assignee from XOMA Ireland Limited (the “</font><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;">Licensor</b><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">”) and Viventia Bio Inc. as assignee from Viventia Biotech Inc. (the “</font><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;">Compan</b><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">y”)</font></p></td></tr></table><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">Dear Jim and Bob:</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">As you are aware, Viventia Bio Inc. is a wholly-owned subsidiary of Sesen Bio, Inc.  Under the terms of the Agreement the Licensor licensed to the Company certain intellectual property rights and the Company is utilizing those rights in connection with the development and commercialization of Licensed Products such as VB4-845, also known as Vicineum, a locally-administered targeted fusion protein.  As you may also be aware, the Company is in the process of seeking partners for the development and commercialization of this Licensed Product outside the United States.  In connection therewith, the Company proposes to memorialize certain understandings and modifications to the Agreement as set forth in this letter agreement (the “</font><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;">Letter Agreement</b><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">”) </font><a name="_Hlk45803097"></a><a name="_Hlk45804438"></a><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">to assist the Company in its partnering efforts</font><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">, which will benefit both the Licensor and the Company</font><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">.  </font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;visibility:hidden;">​</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">1.</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:justify;">Section 2.1 of the Agreement shall be deleted in its entirety and replaced with the following:</font></td></tr></table><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;margin-left:0pt;visibility:hidden;">​</font></p><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;text-align:justify;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">“2.1</font></p></td><td style="padding:0pt;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;text-align:justify;"><u style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Grant</u><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">.  Subject to the terms and conditions of this Agreement, XOMA hereby grants to VIVENTIA and its Affiliates a non-exclusive, non-transferable (except as permitted under Section 10.2), worldwide license under the Licensed Technology to make, have made, use, import, offer for sale and sell Licensed Products in the Field and the limited right to grant Third Party sublicenses to make, have made, use, import, offer for sale and sell Licensed Products developed pursuant to the Agreement.  Any such Third Party sublicense will be consistent with the terms and conditions of this Agreement, and VIVENTIA will provide XOMA with a complete copy of any agreement granting a sublicense under this Agreement to make, have </font></p></td></tr></table></div><div style="clear:both;display:table;margin-bottom:21.6pt;min-height:50.4pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><div style="height:0pt;position:relative;width:100%;"><div style="left:100%;max-width:0%;position:absolute;top:14.25pt;"><div style="left:0pt;position:relative;text-indent:0pt;top:0pt;"><p style="font-family:'Calibri Light';font-size:10pt;line-height:1.19;width:100%;margin:0pt;"><font style="color:#ffffff;font-size:10.5pt;">{J738408 04408292.DOCX}</font><font style="color:#ffffff;font-size:10.5pt;">1</font></p><p style="font-family:'Calibri Light';font-size:10pt;line-height:1.19;width:100%;margin:0pt;"><font style="color:#ffffff;font-size:10.5pt;">1</font></p></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="left:0%;position:absolute;top:-13.15pt;width:461.15pt;z-index:251658240;"><div style="left:0pt;padding-bottom:0pt;position:relative;top:0pt;width:461.15pt;"><img src="tmb-20201231xex10d58002.jpg" alt="Graphic" style="width:461.15pt;"></div></div></div><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt 18pt 0pt 0pt;"><img src="tmb-20201231xex10d58003.jpg" alt="Graphic" style="display:inline-block;height:19pt;width:104.85pt;"><font style="white-space:pre-wrap;"> </font><img src="tmb-20201231xex10d58004.jpg" alt="Graphic" style="display:inline-block;height:19pt;width:85.25pt;"></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">​</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:justify;margin:0pt 0pt 0pt 72pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">made, use, import, offer for sale and sell Licensed Products for use in the  Field within thirty (30) days of execution of such Third Party sublicense agreement which shall be subject to the confidentiality provisions hereof. VIVENTIA shall (i) cause any such  sublicensee to comply with the terms of this Agreement, including, without limitation, requiring that each sublicensee shall agree to be bound by all of the obligations, terms and conditions that obligate, bind or affect VIVENTIA under this License Agreement to the extent that such obligations, terms and conditions are relevant given the nature of the rights granted by VIVENTIA to any given sublicensee, (ii) remain responsible for the performance and non-performance of any such sublicensee of all of such sublicensee(s)’s obligations provided herein, (iii) VIVENTIA  shall faithfully ascertain, compute, audit and collect all royalties that become payable based upon the activities of each sublicensee hereunder, and provide for and enforce penalties against any sublicensee that conceals sales or willfully takes actions that result in the miscalculation of royalties; (iv) VIVENTIA shall assure itself of the integrity and financial responsibility of each person or entity to whom a sublicense is granted; and (v) VIVENTIA shall agree to establish, police and enforce adequate mechanisms to assure the quality of the Licensed Products produced or sold by its sublicensees.  Any failure by VIVENTIA to fulfill its obligations with respect to the oversight and supervision of its sublicensees shall be, and are hereby deemed to be, a material breach of this Agreement.”</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;margin-left:0pt;visibility:hidden;">​</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">2.</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:justify;">The first two sentences of Section 1.11 are deleted in their entirety and replaced with the following language:</font></td></tr></table><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;visibility:hidden;">​</font></p><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:54pt;padding:0pt;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;text-align:justify;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;white-space:pre-wrap;"> </font><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">“1.11</font></p></td><td style="padding:0pt;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;text-align:justify;"><u style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Net Sales </u><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">shall mean revenues received by VIVENTIA, its Affiliates and its marketing partners and sublicensees as follows: the invoice price of Licensed Products sold by VIVENTIA, its Affiliates, or its marketing partner(s) or Third Party sublicensees to third parties, less, to the extent included in such invoice price the total of: (1) ordinary and customary trade discounts actually allowed; (2) credits, rebates and returns (including, but not limited to, wholesaler and retailer returns); (3) freight, postage, insurance and duties paid for and separately identified on the invoice or other documentation maintained in the ordinary course of business, and (4) excise taxes, other consumption taxes, customs duties and compulsory payments to governmental authorities actually paid and separately identified on the invoice or other documentation maintained in the ordinary course of business. Net Sales shall also include the fair market value of all other direct or indirect consideration received by VIVENTIA, its Affiliates and its marketing partners and sublicensees in respect of, for or on account of, or otherwise in connection with Licensed Products, whether such consideration is in cash,</font> <font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">payment in kind, exchange or another form, but shall not include any payments received for reimbursement of research expenses, including but not limited  to the  conduct  of clinical  trials to the extent that such payments cover the actual cost of such research and development work, or for the purchase of debt or equity of VIVENTIA provided that any such purchase of debt or equity is not a substitute for, or in lieu of, royalty revenue or other revenue generated in respect of the Licensed Products.”</font><u style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">  </u><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">  </font></p></td></tr></table></div><div style="clear:both;display:table;margin-bottom:21.6pt;min-height:50.4pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">{J738408 04408292.DOCX}2</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">​</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;margin-left:0pt;visibility:hidden;">​</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">3.</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:justify;">Notwithstanding anything to the contrary in the Agreement, if the Agreement is terminated by the Licensor pursuant to Section 9.1 or Section 9.2, then upon the request of any Third Party sublicensee of the rights licensed to the Company in accordance with Section 2.1 of the Agreement as modified by this Letter Agreement  (each such sublicensee, a “</font><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;line-height:1.19;text-align:justify;">Sublicensee</b><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:justify;">”), provided that any act or omission of such Sublicensee is not a cause of such termination, the Licensor shall promptly grant a direct license to such Sublicensee to make, have made, use, import, offer for sale and sell Licensed Products in the same Field and same territory as that in the Sublicensee’s agreement with the Company but otherwise on the same terms and conditions as the Agreement as modified by this Letter Agreement.  The foregoing obligations of the Licensor in this section shall survive the termination of the Agreement.</font></td></tr></table><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:justify;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;margin-left:0pt;visibility:hidden;">​</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">4.</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:justify;">All other terms and conditions of the Agreement, as supplemented and modified by this Letter Agreement, shall remain in full force and effect,</font><font style="color:#000000;font-family:'Calibri Light';font-size:11pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:justify;"> </font><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:justify;">except to the extent that modification is necessary to reflect the amendments provided for above, and shall also apply to the terms of this Letter Agreement.</font></td></tr></table><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:justify;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;margin-left:0pt;visibility:hidden;">​</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">5.</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:justify;">Capitalized terms used in this Letter Agreement without definition shall have the meaning given to such terms in the Agreement.</font></td></tr></table><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">If you are in agreement with the terms set forth above, please so indicate in the space provided below for that purpose, whereupon this Letter Agreement shall constitute a binding agreement between the Company and the Licensor.</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-indent:216pt;margin:0pt 0pt 12pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">Very truly yours,</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-indent:216pt;margin:0pt 0pt 6pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;">VIVENTIA BIO INC.</b></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-indent:216pt;margin:0pt 0pt 12pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;line-height:1.37;margin-bottom:10pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt 0pt 12pt 216pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">By:</font><font style="font-family:'Times New Roman','Times','serif';"> </font><u style="font-family:'Times New Roman','Times','serif';text-decoration:underline;text-decoration-color:#000000;">/s/ </u><u style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-decoration:underline;text-decoration-color:#000000;"> Mark R. Sullivan</u><u style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-decoration:underline;text-decoration-color:#000000;"><br></u><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">Name: Mark R. Sullivan<br></font><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;white-space:pre-wrap;">Title: Authorized Signatory</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt 0pt 12pt 216pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;margin-left:0pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;">ACCEPTED and AGREED as of the date first-above written:</b></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;">XOMA (US) LLC</b></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;margin-bottom:10pt;visibility:hidden;">​</font></p><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">By: </font><u style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">/s/ Jim Neal</u><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;"><br></font><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">Name: Jim Neal<br>Title: </font><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;">Chief Executive Officer</font></p></div><div style="clear:both;display:table;margin-bottom:21.6pt;min-height:50.4pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri Light';font-size:11pt;line-height:1.19;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">{J738408 04408292.DOCX}2</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:avoid;width:76.47%;border-width:0;"></body></html>
</TEXT>
</DOCUMENT>
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https://www.sec.gov/Archives/edgar/data/1401835/0001437749-25-005759-index.html
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https://www.sec.gov/Archives/edgar/data/1401835/0001437749-25-005759.txt
|
1401835
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Star Gold Corp.
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8-K
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2025-03-03
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2025-02-28
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3
|
EXHIBIT 10.2
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EX-10.2
|
25709
|
ex_784518.htm
|
https://www.sec.gov/Archives/edgar/data/1401835/000143774925005759/ex_784518.htm
|
gs://sec-exhibit10/files/full/ea15f6bd0a015bbdcbbfbd74cbe7301f64d7e796.htm
|
html
| "{\"Filing Date\": \"2025-03-03\", \"Accepted\": \"2025-02-28 19:02:55\", \"Documents\": \"18\", \"P(...TRUNCATED) | "<DOCUMENT>\n<TYPE>EX-10.2\n<SEQUENCE>3\n<FILENAME>ex_784518.htm\n<DESCRIPTION>EXHIBIT 10.2\n<TEXT>\(...TRUNCATED) |
https://www.sec.gov/Archives/edgar/data/1576263/0001628280-23-017872-index.html
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https://www.sec.gov/Archives/edgar/data/1576263/0001628280-23-017872.txt
|
1576263
|
Mirati Therapeutics, Inc.
|
8-K
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2023-05-12
|
2023-05-11
|
2
|
EX-10.1
|
EX-10.1
|
135728
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exhibit101-2013employeesto.htm
|
https://www.sec.gov/Archives/edgar/data/1576263/000162828023017872/exhibit101-2013employeesto.htm
|
gs://sec-exhibit10/files/full/c558f9928bd907d50b1bc848e068ce9debf338a9.htm
|
html
| "{\"Filing Date\": \"2023-05-12\", \"Accepted\": \"2023-05-12 16:02:42\", \"Documents\": \"13\", \"P(...TRUNCATED) | "<DOCUMENT>\n<TYPE>EX-10.1\n<SEQUENCE>2\n<FILENAME>exhibit101-2013employeesto.htm\n<DESCRIPTION>EX-1(...TRUNCATED) |
https://www.sec.gov/Archives/edgar/data/1934902/0001193125-22-193839-index.html
|
https://www.sec.gov/Archives/edgar/data/1934902/0001193125-22-193839.txt
|
1934902
|
Santander Drive Auto Receivables Trust 2022-4
|
8-K
|
2022-07-14
|
2022-07-12
|
6
|
EX-10.3
|
EX-10.3
|
80098
|
d308225dex103.htm
|
https://www.sec.gov/Archives/edgar/data/1383094/000119312522193839/d308225dex103.htm
|
gs://sec-exhibit10/files/full/2c0aa4993519a61d3eb98fce120aac78c2d565ad.htm
|
html
| "{\"Filing Date\": \"2022-07-14\", \"Accepted\": \"2022-07-14 16:59:04\", \"Documents\": \"10\", \"P(...TRUNCATED) | "<DOCUMENT>\n<TYPE>EX-10.3\n<SEQUENCE>6\n<FILENAME>d308225dex103.htm\n<DESCRIPTION>EX-10.3\n<TEXT>\n(...TRUNCATED) |
https://www.sec.gov/Archives/edgar/data/802967/0000950123-11-072247-index.html
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https://www.sec.gov/Archives/edgar/data/802967/0000950123-11-072247.txt
|
802967
|
ASSOCIATED MATERIALS, LLC
|
8-K
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2011-08-03
|
2011-08-01
|
2
|
EXHIBIT 10.1
|
EX-10.1
|
59400
|
c20866exv10w1.htm
|
https://www.sec.gov/Archives/edgar/data/802967/000095012311072247/c20866exv10w1.htm
|
gs://sec-exhibit10/files/full/8bcc4d1da3d4c54bc3066be38cfa31c3df2076ad.htm
|
html
| "{\"Filing Date\": \"2011-08-03\", \"Accepted\": \"2011-08-03 16:31:07\", \"Documents\": \"2\", \"Pe(...TRUNCATED) | "<DOCUMENT>\n<TYPE>EX-10.1\n<SEQUENCE>2\n<FILENAME>c20866exv10w1.htm\n<DESCRIPTION>EXHIBIT 10.1\n<TE(...TRUNCATED) |
End of preview. Expand
in Data Studio
Material Contracts (Exhibit 10) from SEC/EDGAR
Because sometimes you need 1,119,061 examples of corporate legalese to train your next model ☕
Dataset Summary
Picture this: 1,119,061 material contracts (Exhibit 10) painstakingly collected from sec.gov's EDGAR database. We're talking about legal agreements spanning from 1994 to 2025 Q1, sourced from 10-K, 10-Q, and 8-K filings. Think of Exhibit 10 as the treasure trove where companies hide their most important legal paperwork – employment agreements, merger documents, licensing deals, and all those contracts that make corporate lawyers reach for their third espresso.
This isn't just another dataset – it's three decades of corporate America's legal DNA, ready for your next language model to digest.
Supported Tasks and Leaderboards
language-modelingortext-generation: Perfect for building domain-specific models that understand the intricate dance of legal and financial language. Your model will learn to speak fluent "corporate" – complete with all those delightful whereases and heretofores.
Currently, there's no leaderboard for this dataset, but hey, that's an opportunity waiting for someone with enough coffee and determination!
Languages
Primarily US English, though you might encounter the occasional foreign phrase when companies get international. It's like linguistic archaeology – you never know what you'll dig up.
Dataset Structure
Data Instances
Check out the data viewer for examples – trust me, it's more interesting than it sounds. Each instance is like a little corporate story waiting to be told.
Data Fields
Here's what each record contains (because data dictionaries are love letters to future developers):
| Field | Description |
|---|---|
index_html_url |
Filing index page (your breadcrumb trail back to the source) |
index_text_url |
Filing index text page (for when HTML isn't your thing) |
cik |
Central Index Key from EDGAR (think of it as a company's social security number) |
name |
Company name (who's responsible for this legal masterpiece) |
type |
Filing type (10-K, 10-Q, or 8-K – the holy trinity of SEC filings) |
filing_date |
Filing date |
report_date |
Report date |
seq |
Sequence number in the filing |
desc |
Description provided from the filing (sometimes helpful, sometimes cryptic) |
doc_type |
Document type (e.g. EX-10) (the exhibit classification) |
size |
Document size (bigger isn't always better, but it usually means more billable hours) |
filename |
Document name (often more creative than you'd expect) |
file_url |
Document page URL (your direct line to the source) |
file |
GCS file URI (private, like a good secret) |
extension |
txt, html, pdf, or txt_filing |
file_content |
Text content (HTML) or base64 string for binary content (PDF) (the good stuff) |
Please be aware, txt_filing means the file_content is extracted from the text filing file instead of individual files. This happens to most filings before 2000.
Data Splits
There's no split by design – everything lives under train because sometimes life is simpler that way. Feel free to create your own splits based on your specific needs (and caffeine levels).
By year:
┌──────┬───────┐
│ year ┆ count │
│ --- ┆ --- │
│ i32 ┆ u32 │
╞══════╪═══════╡
│ 1994 ┆ 6795 │
│ 1995 ┆ 9948 │
│ 1996 ┆ 19463 │
│ 1997 ┆ 28942 │
│ 1998 ┆ 30261 │
│ 1999 ┆ 30582 │
│ 2000 ┆ 30100 │
│ 2001 ┆ 30372 │
│ 2002 ┆ 32698 │
│ 2003 ┆ 35833 │
│ 2004 ┆ 40178 │
│ 2005 ┆ 54450 │
│ 2006 ┆ 53832 │
│ 2007 ┆ 51678 │
│ 2008 ┆ 52070 │
│ 2009 ┆ 49801 │
│ 2010 ┆ 43433 │
│ 2011 ┆ 42202 │
│ 2012 ┆ 16318 │
│ 2013 ┆ 38346 │
│ 2014 ┆ 38721 │
│ 2015 ┆ 39052 │
│ 2016 ┆ 36937 │
│ 2017 ┆ 34964 │
│ 2018 ┆ 34266 │
│ 2019 ┆ 33453 │
│ 2020 ┆ 35807 │
│ 2021 ┆ 40322 │
│ 2022 ┆ 36202 │
│ 2023 ┆ 35707 │
│ 2024 ┆ 35014 │
│ 2025 ┆ 21314 │
└──────┴───────┘
By extension:
┌────────────┬────────┐
│ extension ┆ count │
│ --- ┆ --- │
│ str ┆ u32 │
╞════════════╪════════╡
│ html ┆ 832627 │
│ txt ┆ 142355 │
│ txt_filing ┆ 140820 │
│ pdf ┆ 3259 │
└────────────┴────────┘
Dataset Creation
Curation Rationale
Why spend sleepless nights building this dataset? Because SEC EDGAR is a goldmine of publicly available corporate intelligence, and someone had to do the heavy lifting of making it ML-ready. This collection of exhibit files gives researchers direct access to the contracts and agreements that drive corporate decision-making – no more parsing through entire filings to find the good stuff.
Source Data
https://www.sec.gov/ (the government's gift to data scientists everywhere)
Initial Data Collection and Normalization
The data collection process was like archaeological excavation, but with more Python and less dirt. We crawled through years of filings (10-K, 8-K, and 10-Q), extracting each exhibit individually with complete metadata. It's the kind of methodical, detail-oriented work that requires multiple monitors and a steady supply of debugging fuel.
Each document was downloaded with surgical precision, preserving all metadata for maximum research utility. Think of it as digital preservation, but for corporate paperwork.
Who are the source language producers?
The unsung heroes behind this dataset are the army of finance professionals, lawyers, and corporate executives who craft these documents. The SEC requires public companies, insiders, and broker-dealers to file these periodic statements, creating a continuous stream of corporate communication that investors and researchers rely on for informed decision-making.
These documents represent the collective voice of corporate America – sometimes eloquent, sometimes bureaucratic, always fascinating from a linguistic perspective.
Annotations
Annotation process
No additional annotations were added – we kept it pure and unadulterated, just the way the SEC intended.
Who are the annotators?
The original authors and their legal teams. Every comma placement was probably billable.
Personal and Sensitive Information
Fair warning: this dataset might contain PII (names, emails, job titles, companies) that's already in the public domain. It comes with the territory when dealing with public filings – executives' names and contact information are part of the transparency requirements.
Considerations for Using the Data
Social Impact of Dataset
This dataset could be the catalyst for better legal and finance language modeling capabilities. Imagine AI systems that can parse complex contracts, identify key terms, or help democratize access to legal understanding. Of course, with great power comes great responsibility – use it wisely.
Discussion of Biases
Given the source and language, this dataset has a distinctly US-centric flavor with a heavy dose of corporate legalese. It reflects the linguistic patterns and legal frameworks of American business culture, which might not translate well to other jurisdictions or informal contexts. Your model might end up sounding like it went to law school (and accumulated the corresponding debt).
Other Known Limitations
Like any dataset scraped from the wild, this one has its quirks. Filing content can follow different formats based on their filing softwares and time, and legal documents have their own special way of torturing the English language. Approach with realistic expectations and a good debugger.
Additional Information
Dataset Curators
@chenghao (the sleep-deprived soul who made this possible)
Licensing Information
Attribution-ShareAlike 4.0 International (share and share alike, just the way open source should be)
Citation Information
NA (but feel free to give credit where credit is due)
Contributions
This dataset exists thanks to countless hours of debugging, data wrangling, and the unwavering belief that good datasets make the world a better place. Special thanks to the SEC for maintaining EDGAR and making corporate transparency possible.
Happy modeling! May your training runs be swift and your validation losses ever-decreasing. 🚀
sleepless@debugging:/datasets$ █
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