Document:

Exhibit 101 (Wagz)

		

			EXHIBIT 10.1

		

		
			ASSET PURCHASE AGREEMENT
		

		
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			THIS ASSET PURCHASE AGREEMENT (this “Agreement”) is effective as of April  30, 2018 (the “Effective Date”), by and between Wagz, Inc., a Delaware corporation (“Buyer”), and SigmaTron International, Inc., a Delaware corporation (“Seller”). 
		

		
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			RECITALS:
		

		
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			A.    At a UCC foreclosure sale (the “Foreclosure Sale”) held on April 30, 2018, Seller foreclosed on its security interest and acquired all of the assets of Petzila, Inc. (“Petzila”) that were subject to Seller’s security interest as follows:
		

		
			all of Petzila’s property, wherever located, whether now owned or existing or hereafter acquired or arising, and all proceeds and products thereof (the “Acquired Assets”).
		

		
			B.    Seller desires to sell the Acquired Assets to Buyer as soon as possible after the conclusion of the Foreclosure Sale and Buyer desires to so purchase the Acquired Assets from Seller, all upon the terms and conditions set forth in this Agreement.
		

		
			NOW, THEREFORE, in consideration of the covenants and conditions set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
		

		
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			ARTICLE 1.  SALE OF Acquired ASSETS
		

		
			1.1.    Sale of the Acquired Assets.  Subject to the terms and conditions set forth in this Agreement, at the Closing (as hereinafter defined), Seller shall sell, convey, transfer, assign and deliver to Buyer, and Buyer shall purchase from Seller, all of Seller’s right, title and interest in and to the Acquired Assets.
		

		
			1.2.    Location.  Risk of loss of the Acquired Assets passes to Buyer on the Closing.  Buyer acknowledges and agrees that it accepts delivery of the Acquired Assets wherever located on the Closing.
		

		
			ARTICLE 2.  CLOSING AND CONSIDERATION
		

		
			2.1.    Time and Place of Closing.  The closing of the sale by Seller to Buyer of the Acquired Assets as contemplated by this Agreement shall take place and be effective as soon as possible after the conclusion of the Foreclosure Sale (the “Closing”).  The Closing shall take place at Seller’s place of business in Union City, California.
		

		
			2.2.    Purchase Price.  As total consideration for the Acquired Assets, Buyer shall pay to Seller the purchase price (the “Purchase Price”) equal to: cash plus shares of stock (the “Equity”)  plus the additional consideration, all as described on SCHEDULE A.
		

		
			2.3.    Buyer’s Deliveries.  By 5:00 p.m. (Chicago, Illinois) on the fourth business day after the Closing, Buyer will (a) pay to Seller the cash portion of the Purchase Price in immediately available funds in accordance with wire transfer instructions provided by Seller, (b) deliver to Seller certificate(s) representing the Equity, and (c) deliver to Seller a signed copy of the General Assignment and Bill of Sale in the form attached hereto as SCHEDULE B (the “Bill of Sale”). 
		

		

		

		 

 

		
		

		
			2.4.    Seller’s Deliveries.  By 5:00 p.m. (Chicago, Illinois) on the fourth business day after the payment and deliveries required in paragraph 2.3, Seller will deliver to Buyer a signed copy of the Bill of Sale.
		

		
			ARTICLE 3.  REPRESENTATIONS AND WARRANTIES OF SELLER
		

		
			As of the Closing, Seller hereby agrees with and represents and warrants to Buyer as follows:
		

		
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			3.1    Organization.  Seller is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. 
		

		
			3.2    Authority.  Seller has full power and authority to make, execute, deliver and perform this Agreement and the Bill of Sale and to consummate the sale contemplated hereby.  The making, execution, delivery and performance of this Agreement and the Bill of Sale and the consummation of the sale contemplated hereby have been duly authorized by all necessary corporate action of Seller.  The representative of Seller whose signature appears on this Agreement is duly authorized to execute this Agreement on behalf of Seller.  This Agreement constitutes the legal, valid and binding obligation of Seller, enforceable against Seller in accordance with its terms.
		

		
			3.3    Title to the Acquired Assets.  Seller sells, transfers, assigns, conveys, grants and delivers to Buyer all of Seller’s right, title and interest in and to the Acquired Assets, free and clear of all liens or other encumbrances created by Seller.    
		

		
			3.4    Disclaimer of Warranties.  Except as to Seller’s title to the Acquired Assets as provided in paragraph 3.3, the Acquired Assets are conveyed by Seller and accepted by Buyer AS IS, WHERE IS AND WITH ALL FAULTS, DEFECTS, IMPERFECTIONS, LIABILITIES AND NONCOMPLIANCE WITH LAWS, AND WITH NO WARRANTIES, INCLUDING WITHOUT LIMITATION, THE WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OF POSSESSION, QUIET ENJOYMENT OR THE LIKE AND AGAINST INFRINGEMENT, AND SELLER HEREBY DISCLAIMS ANY AND ALL SUCH WARRANTIES (BOTH EXPRESS AND IMPLIED). To the extent required to be binding on the parties, the disclaimers contained in this Agreement are "conspicuous" disclaimers for purposes of any applicable law, rule, regulation or order.  
		

		
			3.5    Securities Representations.  Seller is acquiring the Equity for its own account, for investment and not for resale; however, nothing herein shall serve as a bar to any such resale so long as in compliance with applicable law.
		

		
			3.6    Finder’s or Broker’s Fees.  Seller has not retained a broker or finder in connection with the sale contemplated by this Agreement and no broker or other person is entitled to any commission or finder’s fee in connection with Seller’s sale by reason of any act of or on behalf of Seller.
		

		

		

		 

		

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			ARTICLE 4. REPRESENTATIONS AND WARRANTIES OF BUYER
		

		
			As of the Closing, Buyer hereby agrees with and represents and warrants to Seller as follows:  
		

		
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			 4.1.    Organization and Authority.  Buyer is a corporation validly existing and in good standing under the laws of the State of Delaware.  Buyer has full power and authority to make, execute, deliver and perform this Agreement and the Bill of Sale and to consummate the purchase contemplated hereby.  The making, execution, delivery and performance of this Agreement and the Bill of Sale have been duly authorized by all necessary corporate action of Buyer.  The representative of Buyer whose signature appears on this Agreement is duly authorized to execute this Agreement on behalf of Buyer.  This Agreement constitutes the legal, valid and binding obligation of Buyer, enforceable against Buyer in accordance with its terms.
		

		
			 4.2.    Equity.  Buyer has authorized capital consisting of (i) 40,000,000 shares of common stock, $.001 par value per share, of which (a) 9,975,000 shares are [voting] Class A Founders Common shares and 9,975,000 are issued and outstanding, and (b) 4,000,000 shares are [non-voting] Class B Common shares and 3,195,000 are issued and outstanding, (c) 750,000 Class C Common [voting] shares and 750,000 are issued and outstanding(including the 600,000 common shares issued in conjunction to this transaction); (ii) 8,750,000 shares are [Class A] preferred shares, $.001 par value per share, of which 8,750,000 are issued and outstanding.   The Equity constitutes shares of said Class C common stock, all of which have been duly authorized and upon the Closing will be validly issued to Seller, fully paid and non‐assessable.  Except as disclosed on SCHEDULE A, the Equity is issued to Seller, free and clear of all liens, pledges, security interests, claims, warrants, rights, shareholder agreements, options, preemptive or similar rights or other encumbrances and restrictions on voting or transfer.
		

		
			 4.3.    Buyer’s Disclaimer.  In deciding whether to acquire the Acquired Assets, Buyer is relying solely on Buyer’s investigation of the Acquired Assets and the Foreclosure Sale and the advice and counsel of its own consultants, agents, legal counsel and officers.  Buyer understands and acknowledges that Seller has specifically bargained for the assumption by Buyer of all responsibility to investigate the Acquired Assets and the Foreclosure Sale and of all risk of adverse conditions, and has structured the Purchase Price and other terms of this Agreement in consideration thereof.
		

		
			 4.4.    Finder’s or Broker’s Fees.  Buyer has not retained a broker or finder in connection with the purchase contemplated by this Agreement and no broker or other person is entitled to any commission or finder’s fee in connection with Buyer’s purchase by reason of any act of or on behalf of Buyer.
		

		

		

		 

		

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			ARTICLE 5.    RELEASE
		

		
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			Buyer releases Seller and its disclosed or undisclosed, direct and indirect shareholders, officers, directors, trustees, partners, principals, members, employees, agents, affiliates, representatives, consultants, accountants, lenders, contractors, attorneys and other advisors, and any successors or assigns of the foregoing (collectively with Seller, the "Seller Related Parties") from and against any and all claims which Buyer and its disclosed or undisclosed, direct and indirect shareholders, officers, directors, trustees, partners, principals, members, employees, agents, affiliates, representatives, consultants, accountants, lenders, contractors, attorneys and other advisors, and any successors or assigns of the foregoing (collectively with Buyer, the "Buyer Related Parties") has or may have arising from or related to the Acquired Assets, and neither Buyer nor any Buyer Related Parties shall look to Seller or any Seller Related Parties in connection with the foregoing for any redress or relief.
		

		
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			ARTICLE 6.    NOTICES
		

		
			All notices and other communications required under this Agreement shall be in writing and effective: (a) upon receipt if hand delivered, (b) upon transmission if sent by facsimile (with confirmation of transmittal) and confirmed by U.S. mail, (c) one (1) business day after dispatch by a nationally recognized overnight delivery service, or (d) three (3) business days after mailing by certified or registered mail, return receipt requested, to the address stated below, or to such other address as to which any party shall have previously notified the other party in writing in conformity with this Article 6:
		

		
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						If to Seller:

					
					
						SigmaTron International, Inc.

				
	
					
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						Attention: Gary R. Fairhead, President and CEO

				
	
					
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						2201 Landmeier Road

				
	
					
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						Elk Grove Village, IL  60007

				
	
					
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						(847) 956-8709 (FAX)

				
	
					
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						Email: gary.fairhead@sgmaintl.com

				
	
					
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						With a copy to:

					
					
						Howard and Howard Attorneys PLLC

				
	
					
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						Attention: Henry Underwood

				
	
					
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						200 S. Michigan Ave., Ste. 1100

				
	
					
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						Chicago, IL  60604

				
	
					
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						(312) 939-5617 (FAX)

				
	
					
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						Email: hju@h2law.com

				
	
					
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						If to Buyer:

					
					
						Wagz, Inc.

				
	
					
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						Attention: Terry M. Anderton, President and CEO

				
	
					
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						51 Depot Road

				
	
					
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						Hampton Falls, NH 03844

				
	
					
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						1-603-509-9590 (FAX)

				
	
					
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						Email: terry@wagz.com

				
	
					
						 

					
					
						 

					
					
						 

				

		 

		

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						With copies to:

					
					
						Cooley Law

				
	
					
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						Attention: Patrick Mitchell, Esq.

				
	
					
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						500 Boylston Street, 14th Floor

				
	
					
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						Boston, MA 02116-3736

				
	
					
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						617-937-2315 (Office)

				
	
					
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						617-937-2400 (FAX)

				
	
					
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						Email: pmitchell@cooley.com

				

		
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			ARTICLE 7. MISCELLANEOUS
		

		
			7.1.    Complete Agreement.  This Agreement, including the Schedules attached hereto, is the complete agreement between the parties relating to the subject matter hereof and supersedes and replaces all prior negotiations and agreements.  There are no representations, warranties, covenants, conditions, terms, agreements, promises, understandings, commitments or other arrangements, whether express or implied, other than those expressly set forth or incorporated herein or made in writing on or after the Closing. The invalidity of any portion hereof shall not affect the validity, force or effect of the remaining provisions hereof.  If it is ever held that any restriction hereunder is too broad to permit enforcement of such restriction to its fullest extent, such restriction shall be enforced to the maximum extent permitted by law.
		

		
			7.2.    Specific Performance; Remedies Cumulative.  In addition to and not in lieu of the Buyer’s obligations hereunder, Buyer recognizes that, if it fails to perform, observe or discharge any of its obligations under this Agreement, no remedy at law may provide adequate relief to Seller.  Therefore, Seller is hereby authorized to demand specific performance of this Agreement, and is entitled to temporary and permanent injunctive relief in a court of competent jurisdiction at any time when Buyer fails to comply with any of the provisions of this Agreement applicable to it.  Each and every right granted hereunder and the remedies provided for under this Agreement are cumulative and are not exclusive of any remedies or rights that may be available at law, in equity or otherwise.
		

		
			7.3.    Governing Law.  This Agreement will be governed by and construed under the laws of the State of Delaware without regard to its conflicts of laws principles.
		

		
			7.4.    Arbitration.  Any dispute arising under this Agreement will be submitted to a single JAMS arbitrator in Delaware pursuant to JAMS Streamlined Arbitration Rules and Procedures.  The decision of the arbitrator will be final and binding on the parties.  The arbitrator is authorized to award the prevailing party its attorneys’ and other fees incurred in connection with the arbitration.
		

		
			7.5.    Expenses.  Except as otherwise specifically provided herein, each of the parties hereto shall pay its respective counsel fees, accounting fees and other costs and expenses incurred in connection with the negotiation, making, execution, delivery and performance of this Agreement.
		

		
			7.6.    Taxes.  Each party will pay all taxes, if any, it incurs in connection with the negotiation, making, execution, delivery and performance of this Agreement.
		

		

		

		 

		

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			7.7.    Binding Agreement; Successors.  This Agreement shall be binding upon, inure to the benefit of and be enforceable by the successors and assigns of the parties hereto, provided that no assignment of this Agreement shall be effective without the express written consent of the other party, which shall not be unreasonably withheld or delayed.
		

		
			7.8.    No Third Party Beneficiaries.  This Agreement is made solely for the benefit of the parties to this Agreement.  Nothing contained in this Agreement shall be deemed to give any person, partnership, joint venture, corporation, governmental authority or other entity any right to enforce any of the provisions of this Agreement, nor shall any of them be a third party beneficiary of this Agreement.
		

		
			7.9.    Waiver.  The failure of any party to exercise or enforce any right or remedy conferred upon it hereunder shall not be deemed to be a waiver of any such or other right or remedy nor operate to bar the exercise or enforcement of any thereof at any time thereafter.
		

		
			7.10.    Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.  A copy bearing a signature that is delivered as a pdf attachment to an electronic message is delivery for all purposes.
		

		
			7.11.    Further Actions.  After the Closing, for no additional consideration but at the expense of the requesting party, each of the parties shall execute, acknowledge and deliver any further assignments, conveyances, releases and other assurances, documents and instruments of transfer and assumption, and each shall provide the other with full access to such records, reasonably requested by the other party for the purpose of assigning, transferring, granting, conveying and confirming Buyer’s ownership of the Acquired Assets, or as reasonably requested by Seller in connection with Seller’s tax, financial or other business purposes. 
		

		
			7.12.    Survival.  The respective representations and warranties made by the parties in Articles 3 and 4 survive the Closing.
		

		
			[remainder of page intentionally left blank; signature page to follow]
		

		
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			 [signature page to Asset Purchase Agreement]
		

		
			IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date.
		

		
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						BUYER:

				
	
					
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						WAGZ Inc.

				
	
					
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						By:

					
					
						/s/ Terry B. Anderton

				
	
					
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						Name:

					
					
						Terry B. Anderton

				
	
					
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						Title:

					
					
						President and CEO

				
	
					
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						SELLER:

				
	
					
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						SIGMATRON INTERNATIONAL, INC.

				
	
					
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						By:

					
					
						/s/ Gary R. Fairhead

				
	
					
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						Name:

					
					
						Gary R. Fairhead

				
	
					
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						Title:

					
					
						President and CEO

				

		
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			7Exhibit

Exhibit 10.1

Rayonier
2018 Performance Share Award Program
The number of shares to which a participant could become entitled under the 2018 Performance Share Award Program (the “Program”) can range from 0% to a maximum of 200% of the Target Award depending on Rayonier’s total shareholder return (“TSR”) performance for the Performance Period of April 2, 2018 through March 31, 2021, as compared to the TSR performance of the designated peer group companies for the same period.  There will be no payout if results fall below the 30th percentile performance threshold.
		
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	TSR is defined as stock price appreciation plus the reinvestment of dividends on the ex-dividend date. For purposes of performance measurement, TSR shall be the final reported figure as may be adjusted by the Committee for unusual, special or non-recurring items to avoid distortion in the operation of the Program.

		
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	TSR over the performance period will be calculated by measuring the value of a hypothetical $100 investment in Rayonier shares as compared to an equal investment in each of the peer group companies. 

		
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	TSR calculations of stock price appreciation will be the average of the closing prices of Rayonier common shares and that of each of the peer group companies for the first 20 trading dates and last 20 trading dates of the Performance Period.  

The final number of shares in an Award will be determined as follows:
		
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	The TSR performance of Rayonier and the peer group companies will be calculated and Rayonier’s relative performance, on a percentile basis, is determined.

		
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	The payout percentage of Target Award based on Rayonier’s percentile TSR performance against the peer group companies will be calculated per the following table:

	
		
	Percentile Rank
	Award (Expressed As Percent of Target Award)

	80th and Above
	200%

	51st -79th
	100%, plus 3.33% for each incremental percentile position over the 50th percentile

	50th
	100%

	31st - 49th
	30%, plus 3.5% for each incremental percentile position over the 30th percentile

	30th
	30%

	Below 30th
	0%

		
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	The payout percentage may not exceed 100% of the Target Award if Rayonier’s TSR for the Performance Period is negative.

		
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	Payment, if any, is to be made in Rayonier Common Shares, and may be offset, to the extent allowed under applicable regulations, by the number of shares equal in value to the amount needed to cover associated tax liabilities. 

		
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	Dividend equivalents and interest will be paid in cash on the number of Rayonier Common Shares earned under the Program. Dividends will be calculated by taking the dividends paid on one share of Rayonier Common Stock during the performance period times the number of shares awarded at the end of the period. Interest on such dividends will be earned at a rate equal to the prime rate as reported in the Wall Street Journal, adjusted and compounded annually, from the date such cash dividends were paid by the Company. 

		
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	Awards will be valued on April 14 following the end of the performance period. If April 14 is a non-trading day, then the next trading following April 14 will be used. Awards, including dividends and interest, will be distributed to participants as soon as practicable following the valuation date. 

		
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	In cases of termination of participant’s employment due to Retirement, Death, or Total Disability, in accordance with Plan provisions, outstanding Performance Shares will remain outstanding and will vest subject to the terms and conditions of the Award Agreement and this Performance Share Award Program document. Any Performance Shares earned based on performance during the full performance period will be prorated based on the portion of the performance period during which the participant was employed by the Company, with payment of any such earned Performance Shares to occur at the time that the Awards are paid to employees generally.    

		
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	Notwithstanding any other provision in this Plan to the contrary, any award or shares issued thereunder and any amount received with respect to the sale of any such Award or shares, shall be subject to potential cancellation, recoupment, rescission, payback, or other action in accordance with the terms of the Company’s Clawback Policy as in effect from time to time (the “Clawback Policy”).

 

Exhibit 10.1

2018 Performance Share Award Program - Peer Group
April 2, 2018 - March 31, 2021

The peer group consists of timber companies and the companies comprising the real estate segment of the S&P 400 Midcap Index. In order to place more weighting on those companies considered to be our closest competitors, each timber company will be counted in the percentile calculation five times whereas each real estate company will be counted only once. 

		
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	Catchmark Timber Trust (5x)

		
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	PotlatchDeltic Corporation (5x)

		
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	Pope Resources (5x)

		
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	Weyerhaeuser (5x)

		
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	Jones Lang LaSalle Incorporated (1x)

		
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	DCT Industrial Trust Inc. (1x)

		
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	First Industrial Realty Trust Inc. (1x)

		
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	Cousins Properties Incorporated (1x)

		
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	CyrusOne Inc. (1x)

		
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	LaSalle Hotel Properties (1x)

		
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	Camden Property Trust (1x)

		
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	Liberty Property Trust (1x)

		
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	Life Storage, Inc. (1x)

		
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	Lamar Advertising Company (1x)

		
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	Douglas Emmett, Inc. (1x)

		
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	Medical Properties Trust, Inc. (1x)

		
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	Duke Realty Corporation (1x)

		
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	Kilroy Realty Corporation (1x)

		
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	Taubman Centers, Inc. (1x)

		
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	Highwoods Properties, Inc. (1x)

		
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	Hospitality Properties Trust (1x)

		
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	National Retail Properties, Inc. (1x)

		
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	Alexander & Baldwin, Inc. (1x)

		
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	Weingarten Realty Investors (1x)

		
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	Healthcare Realty Trust Incorporated (1x)

		
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	Urban Edge Properties (1x)

		
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	Senior Housing Properties Trust (1x)

		
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	EdR (1x)

		
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	Omega Healthcare Investors, Inc. (1x)

		
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	EPR Properties (1x)

		
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	Corporate Office Properties Trust (1x)

		
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	American Campus Communities, Inc. (1x)

		
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	Washington Prime Group Inc. (1x)

		
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	Tanger Factory Outlet Centers, Inc. (1x)

		
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	Mack-Call Realty Corporation (1x)

		
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	The GEO Group, Inc. (1x)

		
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	Quality Care Properties, Inc. (1x)

		
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	CoreCivic, Inc. (1x)

		
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	Uniti Group Inc. (1x)

		
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	Care Capital Properties, Inc.  (1x)

________________________________________________________________________________
		
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	In the event of a merger, acquisition, or business combination transaction of a peer company with or by another peer company, the surviving entity shall remain a peer company and the acquired entity shall be removed from the peer group. 

		
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	In the event of a merger of a peer company with an entity that is not a peer company, where the peer company is the surviving entity and remains publicly traded, the peer company shall remain in the peer group. 

		
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	In the event of a merger or acquisition or business combination transaction of a peer company by or with an entity that is not a peer company or a “going private” transaction involving a peer company, where the peer company is not the surviving entity or is otherwise no longer publicly traded, the peer company shall be removed from the peer group. 

Exhibit 10.1

		
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	In the event of a bankruptcy, liquidation or delisting of a peer company, such company shall remain a peer company but be forced to the lowest performance within the peer group.

		
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	In the event of a stock distribution from a peer company consisting of the shares of a new publicly-traded company (a “spin-off”), the peer company shall remain a peer company and the stock distribution shall be treated as a dividend from the peer company based on the closing price of the shares of the spun-off company on its first day of trading. The performance of the shares of the spun-off company shall not thereafter be tracked for purposes of calculating TSR.

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