Document:

EX-10.1

 Exhibit 10.1 

The Charles Schwab Corporation 

COMMON STOCK, PAR VALUE $0.01 PER SHARE 

REPURCHASE AGREEMENT 

July 31, 2022 
 TD
Luxembourg International Holdings SARL 
  

 Repurchase Agreement 

July 31, 2022 
 TD LUXEMBOURG INTERNATIONAL HOLDINGS SARL

 Ladies and Gentlemen: 
 Introductory.
         The Charles Schwab Corporation, a Delaware corporation (the “Company”), proposes to repurchase from TD Luxembourg International Holdings SARL (the “Seller”) on
the Closing Date (as defined below) the Shares (as defined below). 
 Each of the Company and the Seller understands that, subject to market
and other conditions and in the sole discretion of the Seller, the Seller intends to sell a number of shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), to be determined by the Seller but not
to be fewer than ten million shares of Common Stock, in one or more transactions, each taking the form of an auction-style block trade (the “144 Sales”) through one or more brokers (collectively, the “Brokers”),
each of which is to comply with the requirements of Rule 144 of the Securities Act of 1933, as amended (the “Act”), that are applicable to resales of securities held by an “affiliate,” as such term is defined in the Act.

 The Company hereby confirms its agreements with the Seller as follows: 

Section 1.    Purchase, Sale and Delivery of the Shares. 

(a)    The Shares. Upon the terms and subject to the conditions set forth herein, the Company agrees to repurchase
from the Seller, and the Seller agrees to sell to the Company, the maximum number of whole shares of the Company’s nonvoting common stock, par value $0.01 per share (the “Shares”), at a price per share equal to the Purchase
Price, as results in an aggregate purchase price not in excess of $1,000,000,000, payable on the Closing Date (the “Repurchase”). As used herein, “Purchase Price” shall mean the lowest price per share at which any
one Broker purchases shares of Common Stock from the Seller in connection with the 144 Sales. 
 (b)    The Closing
Date. Payment for the Shares shall be made to the Seller in federal or other funds immediately available in New York City against delivery of the Shares for the account of the Company at 9:00 a.m., New York City time on August 3, 2022, or
at such other time and on such other date as the Company and the Seller shall mutually agree (the time and date of such payment are hereinafter referred to as the “Closing Date.”) 

(c)    Payment for the Shares. Payment for the Shares shall be made on the Closing Date by wire transfer of
immediately available funds to the order of the Seller. 
 (d)    Delivery of the Shares. The Shares shall be
registered in such names and in such denominations as the Company shall request in writing not later than one full business day prior to the Closing Date. The Shares shall be delivered to the Company on the Closing Date for the account of the
Company. 

 Section 2.    Conditions of the Obligations of the Company.
The obligations of the Seller to deliver the Shares and the Company to repurchase and pay for the Shares, in each case as provided herein on the Closing Date, shall be subject to the execution of the 144 Sales by 10:00 p.m., New York City time, on
the day following the date hereof. 
 Section 3.    Automatic Termination. If the condition specified in
Section 2 is not satisfied by the day and time specified therein, and as required to be satisfied, this Agreement will automatically terminate unless the parties mutually agree otherwise, which automatic termination shall be without liability
on the part of any party to any other party, except that Section 7 shall at all times be effective and shall survive such automatic termination. 

Section 4.    Notices. All communications hereunder shall be in writing, shall be deemed to have been duly
given if mailed or transmitted by any standard form of telecommunication and shall be directed to the parties hereto as follows: 
 If to the
Seller: 
 TD Luxembourg International Holdings SARL 

8-10 avenue de la Gare, L-1610 

Luxembourg, Grand Duchy of Luxembourg 

R.C.S. Luxembourg: B 154.812 

Attention: Scott Ferguson 
 Email:
ScottG.Ferguson@td.com 
 The Toronto-Dominion Bank 

66 Wellington Street West 
 21st
Floor, TD Tower 
 Toronto, Ontario 

Canada M5K 1A2 
 Attention:
Barbara Hooper; Renu Gupta 
 Email: Barbara.Hooper@tdsecurities.com; Renu.Gupta@td.com 

With a copy (which shall not constitute notice) to: 

The Toronto-Dominion Bank 
 66
Wellington Street West 
 4th Floor, TD Tower 

Toronto, Ontario 
 Canada M5K 1A2

 Attention: Jane Langford; Kashif Zaman 

Email: Jane.Langford@td.com; Kashif.Zaman@td.com 

  
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 If to the Company: 

The Charles Schwab Corporation 

211 Main Street 
 Suite 17-201 
 San Francisco, CA 94105 

(415) 667-7940 

Attention: Peter Crawford, Managing Director and Chief Financial Officer 

Email: Peter.Crawford@schwab.com 

Either party hereto may change the address for receipt of communications by giving written notice to the other. 

Section 5.    Successors. This Agreement will inure to the benefit of and be binding upon the parties hereto,
and in each case their respective successors, and no other person will have any right or obligation hereunder. The term “successors” shall not include any purchaser of the Shares as such from the Company merely by reason of such purchase.

 Section 6.    Partial Unenforceability. The invalidity or unenforceability of any Section, paragraph or
provision of this Agreement shall not affect the validity or enforceability of any other Section, paragraph or provision hereof. If any Section, paragraph or provision of this Agreement is for any reason determined to be invalid or unenforceable,
there shall be deemed to be made such minor changes (and only such minor changes) as are necessary to make it valid and enforceable. 

Section 7.    Governing Law Provisions. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN THAT STATE. 

Section 8.    General Provisions. This Agreement may be executed in any number of counterparts and by the
parties hereto in separate counterparts, and signature pages may be delivered by facsimile, electronic mail (including any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transaction Act, the New York
Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309), as amended from time to time, or other applicable law) or other transmission method, each of which when so executed shall be
deemed to be an original and all of which taken together shall constitute one and the same agreement. This Agreement may not be amended or modified unless in writing by all of the parties hereto, and no condition herein (express or implied) may be
waived unless waived in writing by each party whom the condition is meant to benefit. The Section headings herein are for the convenience of the parties only and shall not affect the construction or interpretation of this Agreement. 

  
 3 

 If the foregoing is in accordance with your understanding of our agreement, kindly sign and
return to the Company the enclosed copies hereof, whereupon this instrument, along with all counterparts hereof, shall become a binding agreement in accordance with its terms. 

 

					
	Very truly yours,
	
	THE CHARLES SCHWAB CORPORATION
		
	By:	 	 /s/ Peter Crawford

		 	Name:	 	Peter Crawford
		 	Title:	 	Managing Director and Chief Financial Officer

  
 [Signature Page to
Repurchase Agreement] 

 The foregoing Repurchase Agreement is hereby confirmed and accepted by the Seller as of the
date first above written. 
  

					
	TD LUXEMBOURG INTERNATIONAL HOLDINGS SARL
		
	By:	 	 /s/ Scott Ferguson

		 	Name:	 	Scott Ferguson
		 	Title:	 	Authorized Signatory

  
 [Signature Page to
Repurchase Agreement]Exhibit 10.1

 

FORM OF AWARD NOTICE OF

NON-QUALIFIED STOCK OPTIONS

GRANTED PURSUANT TO THE

TRANSCAT, INC.

2021 STOCK INCENTIVE PLAN

 

	Grantee:	 	 
	Number of Shares:	 	 
	Option Price:	$	 
	Date of Grant:	 	 

 

1. Grant of Option. This Award Notice serves
to notify you that the Board of Directors of Transcat, Inc. (the “Company”) has granted to you, under the Company’s
2021 Stock Incentive Plan (the “Plan”), a non-qualified stock option (the “Option”) to purchase, on the terms
and conditions set forth in this Award Notice and the Plan, up to the number of shares of its Common Stock, $.50 par value per share (the
“Common Stock”) and at the price per share set forth above. The Plan is incorporated herein by reference and made a part of
this Award Notice. Capitalized terms not defined herein have the respective meanings set forth in the Plan.

 

2. Period of Option and Limitations on Right
to Exercise. Unless the Option is previously terminated pursuant to the terms of the Plan or this Award Notice, the Option will expire
at 5:00 p.m., Eastern Time, on the day which is ten years from the Date of Grant (the “Expiration Date”).

 

3. Exercise of Option. Subject to the terms
of the Plan and this Award Notice, provided you are still in the service of the Company at that time, the Option will vest and become
exercisable pro rata with respect to all of the shares subject to the Option on the third anniversary of the Date of Grant. The Option
may be exercised with respect to any vested shares, in whole or in part, by you providing a notice of exercise to the Company and payment
in accordance with the forms and procedures established by the Committee and in effect on the date of exercise.

 

4. Effect of Certain Events.

 

(a) Death. In the event of your death prior
to the complete exercise of the Option, your designated beneficiary or, in the absence of such beneficiary, your duly qualified personal
representative may exercise the Option to purchase any vested shares available under the Option until the earlier of the Expiration Date
or one year after your death. Upon your death, the Option shall terminate with respect to any unvested shares under the Option.

 

(b) Disability. In the event of your Disability
prior to the complete exercise of the Option, you may exercise the Option to purchase any vested shares available under the Option until
the earlier of the Expiration Date or one year after the date of your Disability. Upon the date of your Disability, the Option shall terminate
with respect to any unvested shares under the Option.

 

     

     

    

 

(c) Other Separation. Upon your separation
from the Company for any reason other than your death or Disability, you may exercise the Option to purchase any vested shares available
under the Option until the earlier of the Expiration Date or 90 days after the date of your separation. Upon your separation, the Option
shall terminate with respect to any unvested shares under the Option.

 

(d) Change of Control. Notwithstanding the
vesting schedule set forth in Section 3 of this Award Notice, upon a “Change of Control,” the Option shall become fully vested
and immediately exercisable for the total number of shares available under the Option. For purposes of this Award Notice, “Change
of Control” has the meaning given to such term in the Plan.

 

5. Limitation of Rights. You will not have
any rights as a stockholder with respect to the shares covered by the Option until you become the holder of record of such shares by exercising
the Option. Neither the Plan, the granting of the Option nor this Award Notice gives you any right to remain in the service of the Company
or a Subsidiary.

 

6. Restrictions on Issuance of Shares. If
at any time the Company determines that listing, registration or qualification of the shares covered by the Option upon any securities
exchange or under any state or federal law, or the approval of any governmental agency, is necessary or advisable as a condition to the
exercise of the Option, the Option may not be exercised in whole or in part unless and until such listing, registration, qualification
or approval shall have been effected or obtained free of any conditions not acceptable to the Company.

 

7. Restriction on Transfers. You may not
make any sale or other distribution or disposition of any shares of Common Stock acquired by you pursuant to the exercise of all or any
part of the Option unless (i) a registration statement with respect to such shares is in effect at the time of such sale, distribution
or disposition and the Company shall have received proof satisfactory to it that there has been compliance with applicable state law,
or (ii) the Company shall have received an opinion of counsel satisfactory to it that no violation of the Securities Act of 1933, as amended,
or applicable state law will be involved in such transfer.

 

8. Plan Controls. The Option is subject
to all of the provisions of the Plan, which is hereby incorporated by reference, and is further subject to all the interpretations, amendments,
rules and regulations that may from time to time be promulgated and adopted by the Committee pursuant to the Plan. In the event of any
conflict among the provisions of the Plan and this Award Notice, the provisions of the Plan will be controlling and determinative.

 

    2

     

    

 

ACKNOWLEDGEMENT

 

The undersigned Grantee acknowledges receipt of
a copy of the Plan, and understands and agrees to the terms of this Award Notice and the Plan. The Grantee further acknowledges that as
of the Date of Grant, this Award Notice and the Plan set forth the entire understanding between the Grantee and the Company regarding
the acquisition of Common Stock and supersede all prior oral and written agreements on that subject, with the exception of any other awards
under the Plan made to the Grantee contemporaneously with this Option.

 

	Date:	 	 	Transcat, Inc.
	 	 	 	 	 
	 	 	 	By:	            
	 	 	 	 	 
	 	 	 	Grantee:
	 	 	 	 	 
	 	 	 	 

 

 

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