Document:

Exhibit
10.29

     

    NOTES TO: QUALYTEXTIL
SA - Reconciliation of Brazilian GAAP to US
GAAP

    Year
ended December 31, 2007

     

    
      
        
          	
                  (a)
      Reclassify provison for bad debt allowance to administrative
      expense

                	 
      	 	 	 
	
                  (b)
      Reclassify interest expense and interest income out of "net financial"
      Under Brazilian GAAP, the category "net financial" includes interest
      expense and interest income and government incentives on VAT
      taxes.

                	 
      	 	 	 
	
                  (c)
      Not used

                	 
      	 	 	 
	
                  (d)
      Government income tax incentives classified as capital contribution for
      Brazilian GAAP

                	 
      	 	 	(176,037	)
	
                  Adjust
      tax accrual to 15.25% of final US GAAP pretax income

                	 
      	 	 	38,644	 
	
                  net
      tax adjustment

                	
                  (d)

                	 	 	(137,393	)
	
                  (e)
      Net adjustment to administrative expenses

                	 
      	 	 	 	 
	
                  Legal
      fees not accrued under Brazilian GAAP

                	 
      	 	 	58,933	 
	
                  Management
      compensation not accrued under brazilian GAAP

                	 
      	 	 	107,266	 
	
                  Misc.
      labor accrual

                	 
      	 	 	5,646	 
	
                  Installment
      plan taxes not accrued - outsourcing sales contractor

                	 
      	 	 	4,623	 
	
                  Installment
      plan taxes not accrued - outsourcing labor contractor

                	 
      	 	 	15,776	 
	
                  Outsourcing
      labor contractor invoices recorded one month in arrears - accrue December
      2007

                	 
      	 	 	22,930	 
	
                  (e)
      Net adjustment to administrative expenses

                	
                  (e)

                	 	 	215,174	 
	
                  (f)
      Net adjustment to cost of goods sold

                	 
      	 	 	 	 
	
                  inventory
      reserve not recorded under Brazilian GAAP - slow moving raw
      material

                	 
      	 	 	73,367	 
	
                  inventory
      reserve not recorded under Brazilian GAAP - reserve for rework returned
      finished goods

                	 
      	 	 	29,295	 
	
                  reclassify
      a government VAT tax incentive (ICMS) as a reduction of cost of goods
      sold

                	 
      	 	 	(335,567	)
	
                  Outsourcing
      labor contractor invoices recorded one month in arrears - accrue December
      2007

                	 
      	 	 	48,106	 
	
                  Installment
      plan taxes not accrued - outsourcing labor contractor

                	 
      	 	 	15,157	 
	
                  (f)
      Net adjustment to cost of goods sold from BRL into USD

                	
                  (f)

                	 	 	(169,642	)
	
                  (g)
      The translation of the 2007 statement of profit and loss has been derived
      from the internally generated monthly financial statements. These
      financial statements have been translated using the rate applicable to
      each month. The exchange rate of $1.94720 represents a weighted average of
      the monthly rates used.Exhibit
10.30

      NOTES TO: QUALYTEXTIL
SA - Reconciliation of Brazilian GAAP to US
GAAP

      Three
months ended April 30, 2008

       

      
        
          
            
              
                	
                        (a)
      Reclassify interest expense and interest income out of "net
      financial"

                      	 
      	 	 	 
	
                        (b)
      Capital reserve reversal recognized as income

                      	
                        (b)

                      	 	 	47,944	 
	
                        (c)  Reclassify
      a government VAT tax incentive as a reduction of cost of goods
      sold

                      	
                        (c
      )

                      	 	 	94,149	 
	
                        (d)
      Not used

                      	 
      	 	 	 	 
	
                        (e)
      Net adjustment to administrative expenses

                      	 
      	 	 	 	 
	
                        Legal
      fees not accrued under Brazilian GAAP - difference in opening and ending
      accruals

                      	 
      	 	 	(1,348	)
	
                        Management
      compensation not accrued under Brazilian GAAP - charge to earlier
      period

                      	 
      	 	 	(107,266	)
	
                        Outsourcing
      sales contractor invoices recorded one month in arrears - difference in
      opening and ending accruals

                      	 
      	 	 	15,457	 
	
                        Outsourcing
      labor contractor invoices recorded one month in arrears - reverse
      beginning accrual

                      	 
      	 	 	(22,930	)
	
                        (e)
      Net adjustment to administrative expenses

                      	
                        (e)

                      	 	 	(116,087	)
	
                        (f)  Net
      adjustment to cost of goods sold

                      	 
      	 	 	 	 
	
                        inventory
      reserve not recorded under Brazilian GAAP - charged to earlier
      periods

                      	 
      	 	 	(73,367	)
	
                        reclassify
      a government VAT tax incentive (ICMS) as a reduction of cost of goods
      sold

                      	
                        (c
      )

                      	 	 	(94,149	)
	
                        Outsourcing
      labor contractor invoices recorded one month in arrears - reverse
      beginning  accrual

                      	 
      	 	 	(48,106	)
	
                        (f)  Net
      adjustment to cost of goods sold

                      	
                        (f)

                      	 	 	(215,622	)
	
                        (g)  Income
      tax accrual to adjust to US GAAP income

                      	
                        (g)

                      	 	 	52,760	 
	
                        (h)  The
      three month statement of profit and loss has been derived from the
      internally generated monthly financial statements. These financial
      statements have been translated using the rate applicable to each month.
      The exchange rate of $1.71288 represents a weighted average of the monthly
      rates used.Unassociated Document

    
      
        Exhibit
10.1

         

         

      

      THIS
DOCUMENT CONSTITUTES PART OF

      A
PROSPECTUS COVERING SECURITIES THAT

      HAVE
BEEN REGISTERED UNDER THE

      SECURITIES
ACT OF 1933

      

       

      VULCAN
MATERIALS COMPANY

       

       

      PERFORMANCE
SHARE UNIT AWARD AGREEMENT

       

      Terms
and Conditions

      

      
        	
                1.

              	
                Definitions.  As used in
      this Award Agreement the following terms shall have the meanings as
      follows:

              

      

      

      
        	
                (a)  

              	
                "Award
      Agreement" means this Performance Share Unit Award
    Agreement.

              

      

      

      
        	
                (b)  

              	
                "Performance
      Period" means the three-year period shown on Section 3 of this Award
      Agreement, except that in the “Event” of the
      Participant’s death or a change in control (as defined in regulations or
      other guidance under Section 409A of the Internal Revenue Code of 1986, as
      amended (the "Code")), the Performance Period will be the period
      covered by the Award Agreement ending on December 31st
      of the calendar year in which the Event
  occurred.

              

      

      

      
        	
                (c)  

              	
                "Company"
      means Vulcan Materials Company, a New Jersey
  corporation.

              

      

      

      
        	
                (d)  

              	
                "Committee"
      means the Compensation Committee of the Board of
  Directors.

              

      

      

      
        	
                (e)  

              	
                “Disability”
      means Permanent and Total Disability whereby the Participant is entitled
      to long-term disability benefits under the applicable group long-term
      disability plan of the Company or a Subsidiary, or, to the extent not
      eligible to participate in any Company-sponsored plan, under the
      guidelines of the Social Security
  Administration.

              

      

      

      
        	
                (f)  

              	
                “Fair
      Market Value or “FMV” means the closing stock price for a Share on the
      business day that immediately precedes the Payment Date as reported on a
      national securities exchange if the Shares are then being traded on such
      an exchange or as determined by the Committee if Shares are not so
      traded.

              

      

       

      
        	
                (g)  

              	
                "Grant
      Date" means the date of this Award
Agreement.

              

      

      

      
        	
                (h)  

              	
                "Participant"
      means the name of the employee of the Company or its subsidiaries or
      affiliates.

              

      

      

      
        	
                (i)  

              	
                “Payment
      Date” means the date on which payment is made under this Award
      Agreement.

              

      

      

      
        	
                (j)  

              	
                "Performance
      Share Unit" or “PSU” means the equivalent of one share of Common
      Stock.

              

      

      

      
        	
                (k)  

              	
                "Plan"
      means the Vulcan Materials Company 2006 Omnibus Long-Term Incentive Plan,
      as amended, or any successor plan, as
amended.

              

      

      

      
        	
                (l)  

              	
                “Share"
      means a share of Common Stock, par value $1.00 per share, of the
      Company.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                2.

              	
                Grant
      and Vesting of PSUs

              

      

      

      
        	
                (a)  

              	
                Grant. The
      Participant is awarded the number of PSUs identified through the
      electronic, on-line grant acceptance process, subject to terms and
      conditions set forth in the Agreement.  Depending on the
      company’s performance as set forth in Section 3, the participant may earn
      zero percent (0%) to two hundred percent (200%) of the shares
      awarded.

              

      

      

      
        	
                (b)  

              	
                Vesting.  Except
      as otherwise provided in Section 4, and subject to the Committee’s
      discretion set forth in Section 6, the PSUs will become vested on December
      31, at the end of the Performance
Period.

              

      

      

      
        	
                3.

              	
                Payment
      of Performance Share Units

              

      

      

      
        	
                (a)  

              	
                Performance Period and
      Measures. The Performance Period for this award begins on
      January 1, 2010 and ends on December 31, 2012.  The Percentage
      of the award earned and paid will be established by the Committee based on
      the company’s 3-year average    Total Shareholder
      Return (“TSR”) relative to S&P 500 Index as comprised on January 1 of
      the year of grant.  The maximum Percentage may be decreased but
      not increased by the Committee.  The following table A reflects
      the goals which performance will be measured for payment of the PSUs
      awarded.

              

      

      

      
        	
                Performance
      Share Unit Payment Table

              
	
                TABLE
      A

              
	
                3-Year
      Average Total Shareholder Return Percentile Rank Relative to S&P 500
      Index

              	 	
                %
      of Performance Share Share Units Payable

              
	
                75th
      or >

              	 	
                200

              
	
                50th

              	 	
                100

              
	
                25th
      or <

              	 	
                0

              

      

      

      

      
        	
                (b)  

              	
                Units Payable.
      The number of PSUs payable is the shares awarded multiplied by the TSR
      Percentage payable.  For performance levels falling between the
      values as shown above,  the Percentages will be determined by
      interpolation.  Payment will be made in
  stock.

              

      

      

      
        	
                (c)  

              	
                The Value of the Stock
      Issued as Payment for PSUs Earned.  The FMV will be used
      to determine the basis of the stock
payable.

              

      

      

      
        	
                (d)  

              	
                Withholding.
      The Company shall withhold Shares having a Fair Market Value on the date
      the tax is to be determined equal to the minimum statutory amount for
      federal, state, local, and employment taxes (“Total Tax”) which could be
      withheld on the transaction, with respect to any taxable event arising as
      a result of this Award Agreement.

              

      

      
 

      
        	
                (e)  

              	
                Timing of
      Payment.  Payment will be made to a Participant between January 1 and March 15 of the calendar
      year after the calendar year in which the Performance Period [as defined
      in Section 1(b)], ends.

              

      

      

      
        	
                (f)  

              	
                Payment
      Determination.  The Committee may exercise its discretion
      to reduce or eliminate payments if the Performance Period average TSR is
      less than or equal to the 25th
percentile.

              

      

       

      
 

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      
        	
                4.

              	
                Termination
      of Employment.

              

      

      

      
        	
                (a)  

              	
                Termination at age 55
      and above.

              

      

      
        	
                (i)  

              	
                If
      a Participant terminates from employment at age 55-61, the PSUs will
      become non-forfeitable in accordance with Table B and will be paid in accordance with Section
      3.   The Participant may be required to execute a
      reasonable non-competition covenant with the Company restricting the
      Participant from competing with the Company in a specified territory for a
      specified period of time.  If such covenant is required by the
      Company and is not executed by the Participant, unvested PSUs will be
      forfeited and vested PSUs not yet paid as of the date of such termination
      will be paid in accordance with Section
3.

              

      

      

      
        	
                TABLE
      B

              
	
                If
      termination at age 55-61 occurs on or after January 1st
      of the:

              	 	
                The
      percentage of PSUs

                that
      will become Non-forfeitable is:

              
	
                1st
      Calendar year following the Grant Date

              	 	
                  33%

              
	
                2nd
      Calendar year following the Grant Date

              	 	
                  67%

              
	
                3rd
      Calendar year following the Grant Date

              	 	
                100%

              

      

      

      

      
        	
                (ii)  

              	
                If
      a Participant terminates from employment at age 62 or later, the PSUs
      which have been held by the Participant until January 1st
      of the calendar year following the year of grant, will be deemed to be
      non-forfeitable and will be paid in
      accordance with Section 3.   The Participant may be
      required to execute a reasonable non-competition covenant with the Company
      restricting the Participant from competing with the Company in a specified
      territory for a specified period of time.  If such covenant is
      required by the Company and is not executed by the Participant, unvested
      PSUs will be forfeited and vested PSUs not yet paid as of the date of such
      termination will be paid in accordance with Section
  3.

              

      

      

      
        	
                (b)  

              	
                Disability.
      Upon determination of Disability, as defined in Section 1(e), the PSUs
      granted under this Award Agreement will become non-forfeitable. All
      non-forfeitable PSUs will be paid in accordance with Section
      3.

              

      

      

      
        	
                (c)  

              	
                Death.  Upon
      the death of the Participant, the PSUs granted under this Award Agreement
      will become non-forfeitable.  All non-forfeitable PSUs will be
      paid to the Participant's beneficiary or estate in accordance with Section
      3.

              

      

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      
 

      
        	
                (d)  

              	
                Other
      Termination.  Upon voluntary termination prior to age 55,
      or upon involuntary termination for reasons other than death, Disability,
      or cause as determined under Section 4(e), unvested PSUs will be forfeited
      and vested PSUs not yet paid as of the date of such termination will be
      paid in accordance with Section 3.

              

      

      

      
        	
                (e)  

              	
                Termination for
      Cause.  If a Participant’s employment is terminated for
      cause, the PSUs will immediately be forfeited, even with respect to vested
      PSUs which were otherwise non-forfeitable but not yet paid.  The
      Committee shall have complete discretion to determine whether a
      Participant has been terminated for cause.  The Committee's
      determination shall be final and binding on all persons for purposes of
      the Plan and this Award Agreement.

              

      

      

      
        	
                (f)  

              	
                Change in Control of
      the Company. Upon
      a Change in Control of the Company, as defined in regulations or other
      guidance under Section 409A of the Code, the PSUs granted under this Award
      Agreement will be deemed to be non-forfeitable.  All
      non-forfeitable PSUs will be paid in accordance with Section
      3.

              

      

      

      
        	
                5.

              	
                Section
      16(b) Participants.  Any Participant subject to Section
      16(b) reporting shall be governed by same with respect to
      PSUs.

              

      

      

      
        	
                6.

              	
                Committee
      Discretion.  The Committee may, in its sole discretion,
      amend this Award Agreement to the extent necessary to comply with any
      statute, regulation, or other administrative
      guidance.  Notwithstanding any other provision of the Plan or
      this Award Agreement, the Committee may amend the Plan or this Award
      Agreement to the extent permitted by their terms and deem any units
      granted under this Award non-forfeitable for the events described in
      Sections 4(a) and 4(d).  The Committee shall not make any
      amendment pursuant to this Section 6 that would cause this Award
      Agreement, if it is subject to or becomes subject to Section 409A of the
      Internal Revenue Code, to fail to satisfy the requirements of such Section
      409A. The Committee has sole discretion to establish the Comparison Group
      to be used in evaluating the performance of the Company in accordance with
      Section 3(a), and may change the Comparison Group from time to
      time.

              

      

      

      
        	
                7.

              	
                Entire
      Agreement; Amendment. This Award Agreement, The Memorandum, and the
      Plan are incorporated herewith and represent the entire understanding and
      agreement between the Company and the Participant, and shall supersede any
      prior agreement and understanding between the parties.  Except
      as provided in Section 6 of this Agreement and subject to any Plan
      provision, this Award may not be amended or modified except by a written
      instrument executed by the parties
hereto.

              

      

      

      
        	
                8.

              	
                Non-Solicitation.  In
      consideration for this Agreement and notwithstanding any other provision
      in this Agreement, the Participant agrees to comply with the
      non-solicitation covenants set forth
below:

              

      

      

      
        	
                (a)  

              	
                Non-Solicitation of
      Customers.  The Participant acknowledges that while
      employed by the Company, the Participant will occupy a position of trust
      and confidence and will acquire confidential information about the
      Company, its subsidiaries and affiliates, and their clients and customers
      that is not disclosed by the Company or any of its subsidiaries or
      affiliates in the ordinary course of business, including trade secrets,
      data, formulae, information concerning customers and other information
      which is of value to the Company because it is not generally known. The
      Participant agrees that during the period of employment with the Company
      and for a period of two years after the date of termination of employment
      with the Company, regardless of the reason for termination, the
      Participant will not, either individually or as an officer, director,
      stockholder, member, partner, agent, consultant or principal of another
      business firm, directly or indirectly solicit any customer of the Company
      or of its affiliates or
subsidiaries.

              

      

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      
 

      
        	
                (b)  

              	
                Non-Solicitation of
      Employees.  The Participant recognizes that while
      employed by the Company, the Participant will possess confidential
      information about other employees of the Company and its subsidiaries or
      affiliates relating to their education, experience, skills, abilities,
      compensation and benefits, and inter-personal relationships with suppliers
      to and customers of the Company and its subsidiaries or
      affiliates.  The Participant recognizes that this information is
      not generally known, is of substantial value to the Company and its
      subsidiaries or affiliates in developing their respective businesses and
      in securing and retaining customers, and will be acquired by the
      Participant because of the Participant’s business position with the
      Company.  The Participant agrees that during the period of
      employment with the Company and for two years after the date of
      termination of employment with the Company, regardless of the reason for
      termination, the Participant will not, directly or indirectly, solicit or
      recruit any employee of the Company or any of its subsidiaries or
      affiliates for the purpose of being employed by the Participant or by any
      business, individual, partnership, firm, corporation or other entity on
      whose behalf the Participant is acting as an agent, representative or
      employee and that the Participant will not convey any such confidential
      information or trade secrets about other employees of the Company or any
      of its subsidiaries or affiliates to any other person except within the
      scope of the Participant’s duties as an employee of the
      Company.

              

      

      

      
        	
                (c)  

              	
                Remedies.  If
      any dispute arises concerning the violation by the Participant of the
      covenants described in this Section, an injunction may be issued
      restraining such violation pending the determination of such controversy,
      and no bond or other security shall be required in connection
      therewith.  If the Participant violates any of the obligations
      in this Section, this Award Agreement will terminate, if it is
      outstanding, and, in addition, the Company will be entitled to any
      appropriate relief, including money damages, equitable relief, and
      attorneys’ fees.

              

      

      

      

      
        
          
          

        

        
          5

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