Document:

Exhibit 10.1

 

FIRST
AMENDMENT 

TO EMPLOYMENT
AGREEMENT

 

FIRST AMENDMENT, dated as of February 8,
2005 (this “First Amendment”) to the Employment Agreement (the “Employment
Agreement”) by and among Steven V. Williams (“Executive”),
Protection One, Inc., a Delaware corporation, Network Multi-Family
Security Corporation, a Delaware corporation (the “Company”), and
Protection One Alarm Monitoring, Inc., a Delaware corporation, dated as of
July 23, 2004. This First Amendment to the Employment Agreement shall become
effective upon the “Closing Date” (as defined in the Exchange Agreement);
provided, that this First Amendment shall be null and void ab initio upon any termination of the
Exchange Agreement in accordance with its terms.

 

W I  T  N  E  S  S  E  T
H:

 

WHEREAS, Section 22 of the Employment
Agreement provides that any modification of any provision of the Employment
Agreement shall be valid only if made in writing and signed by Executive and a
duly authorized officer of the Company; and

 

WHEREAS, the parties hereto desire to amend
certain provisions of the Employment Agreement as more fully set forth herein.

 

NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
and in consideration of the agreements herein, the parties hereto agree as
follows:

 

1.             Defined Terms.

 

(a)           Unless otherwise stated herein, all capitalized terms have the
meanings ascribed to them in the Employment Agreement.

 

(b)           For purposes of this Agreement, “Exchange Agreement” means that certain
Exchange Agreement, dated as of November 12, 2004, to which Protection One, Inc.
and Protection One Alarm Monitoring, Inc., among others, are parties.

 

2.             Amendments.

 

(a)           Section 4(c) of the Employment Agreement is hereby amended
and restated in its entirety to read as follows:

 

“(c)         Benefit Programs.  During the
period of Executive’s employment under this Agreement, Executive shall be
eligible to participate in all employee benefit plans and programs of the
Company from time to time in effect for the benefit of senior executives of the
Company (subject to meeting generally applicable participation requirements
under the applicable plan or program), including, but not limited to, retention
plans, stock option plans, restricted stock grants, 401(k) plans, group life
insurance, hospitalization and surgical and major medical coverages, sick
leave, employee stock purchase plans, car allowances, vacations

 

 

and holidays, long-term disability, and
such other benefits as are or may be made available from time to time to senior
executives of the Company. For purposes of this Section 4(c), the term “the
Company” shall also include POAMI.”

 

(b)           Section 5(a)(D) of the Employment Agreement is hereby
amended and restated in its entirety to read as follows:

 

“(D)        Executive’s rights with respect to all outstanding stock options,
stock appreciation rights and other equity based awards (“Awards”) in
connection with any termination of employment, including a Qualifying
Termination, shall be governed exclusively by the terms of the Protection One, Inc.
2004 Stock Option Plan, the Protection One, Inc. Stock Appreciation Rights
Plan and the grant and option agreements provided thereunder (provided, for the
avoidance of doubt, that this Section 5(a)(D) shall not be construed
to affect or modify the application of Section 6 of this Agreement).”

 

3.             GOVERNING LAW; VALIDITY.  THE INTERPRETATION, CONSTRUCTION AND
PERFORMANCE OF THIS FIRST AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF DELAWARE WITHOUT
REGARD TO THE PRINCIPLE OF CONFLICTS OF LAWS. THE INVALIDITY OR
UNENFORCEABILITY OF ANY PROVISION OF THIS FIRST AMENDMENT SHALL NOT AFFECT THE VALIDITY
OR ENFORCEABILITY OF ANY OTHER PROVISION OF THIS FIRST AMENDMENT, WHICH OTHER
PROVISIONS SHALL REMAIN IN FULL FORCE AND EFFECT.

 

4.             Full force and effect of Employment Agreement.  Except as specifically modified
herein, all other provisions of the Employment Agreement shall remain in full
force and effect in accordance with its terms. All references in the Employment
Agreement to “this Agreement” shall be deemed to refer to the Employment
Agreement as amended by this First Amendment.

 

[REMAINDER OF
PAGE INTENTIONALLY LEFT BLANK]

 

 

IN WITNESS WHEREOF, each of Protection One, Inc.,
the Company and Protection One Alarm Monitoring, Inc. has caused this
Agreement to be executed by a duly authorized representative of Protection One, Inc.,
the Company and Protection One Alarm Monitoring, Inc. and Executive has
executed this Agreement as of the day and year first above written.

 

	
   

  	
  PROTECTION ONE, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard Ginsburg

  	
   

  
	
   

  	
   

  	
  Name: Richard Ginsburg

  
	
   

  	
   

  	
  Title: Present and CEO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PROTECTION ONE ALARM MONITORING, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard Ginsburg

  	
   

  
	
   

  	
   

  	
  Name: Richard Ginsburg

  
	
   

  	
   

  	
  Title: President and CEO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NETWORK MULTI-FAMILY SECURITY

  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard Ginsburg

  	
   

  
	
   

  	
   

  	
  Name: Richard Ginsburg

  
	
   

  	
   

  	
  Title: Chairman

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Steven V. Williams

  	
   

  
	
   

  	
   

  	
  Steven V. WilliamsExhibit 10.1

 

Repurchase Plan

 

10b5-1 Repurchase Plan

 

Repurchase Plan,
dated September 6, 2005 (this “Repurchase Plan”), between PepsiAmericas, Inc. (the “Issuer”) and Citigroup
Global Markets, Inc. (“CGMI”).

 

WHEREAS, the
Issuer desires to establish this Repurchase Plan to repurchase shares of its
common stock (the “Stock”); and

 

WHEREAS, the
Issuer desires to engage CGMI to effect repurchases of shares of Stock in
accordance with this Repurchase Plan;

 

NOW, THEREFORE,
the Issuer and CGMI hereby agree as follows:

 

1.                                       (a) Subject to the Issuer’s continued
compliance with Section 2 hereof, CGMI shall effect a purchase or
purchases (each, a “Purchase”) of up to 2,000,000 shares of the Stock (the “Total
Plan Shares”) as set forth in Annex 1.

 

(b) Purchases may be made in the open market or through privately
negotiated transactions.  CGMI shall
comply with the requirements of paragraphs (b)(2), (b)(3) and (b)(4) of
Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), in connection with Purchases of Stock in the open market pursuant to
this Repurchase Plan.  The Issuer agrees
not to take any action that would cause Purchases not to comply with Rule 10b-18,
Rule 10b5-1 or Regulation M.

 

2.                                       The Issuer shall pay to CGMI a commission of $.02
cents per share of Stock repurchased pursuant to this Repurchase Plan. In
accordance with CGMI’s customary procedures, CGMI
will deposit shares of Stock purchased hereunder into an account established by
CGMI for the Issuer against payment to CGMI of the purchase price therefor and commissions and other amounts in respect
thereof payable pursuant to this Section. 
The Issuer will be notified of all transactions pursuant to customary
trade confirmations.

 

 

3.                                       (a) This Repurchase
Plan shall become effective immediately and shall terminate upon the first to
occur of the following:

 

(1) the ending of the Trading Period, as
set forth in Annex 1;

 

(2) the purchase of the number of Total Plan Shares pursuant to
this Repurchase Plan;

 

(3) the end
of the second business day following the date of receipt by CGMI of notice of
early termination substantially in the form of Appendix A hereto, delivered by
telecopy, transmitted to (212) 723-8019, Attention: Andrew Geissler,
and confirmed by telephone to Andrew Geissler at
(212) 723-7022;

 

(4) the
commencement of any voluntary or involuntary case or other proceeding seeking
liquidation, reorganization or other relief under any bankruptcy, insolvency or
similar law or seeking the appointment of a trustee, receiver or other similar
official, or the taking of any corporate action by the Issuer to authorize or
commence any of the foregoing;

 

(5) the
public announcement of a tender or exchange offer for the Stock or of a merger,
acquisition, recapitalization or other similar business combination or
transaction as a result of which the Stock would be exchanged for or converted
into cash, securities or other property; or

 

(6) the failure of the Issuer to comply with Section 2
hereof.

 

(b) Sections
2 and 13 of this Repurchase Plan shall survive any termination hereof.  In addition, the Issuer’s obligation under Section 2
hereof in respect of any shares of Stock purchased prior to any termination
hereof shall survive any termination hereof.

 

4.                                       The
Issuer understands that CGMI may not be able to effect
a Purchase due to a market disruption or a legal, regulatory or contractual
restriction or internal policy applicable to CGMI or otherwise.  If any Purchase cannot be executed as
required by Section 1 due to a market disruption, a legal, regulatory or
contractual restriction or internal policy applicable to CGMI or any other
event, such Purchase shall be cancelled and shall not be effected pursuant to
this Repurchase Plan.

 

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5.                                       The Issuer represents and warrants, on the date
hereof and on the date of any amendment hereto, that: (a) it is not aware
of material, nonpublic information with respect to the Issuer or any securities
of the Issuer (including the Stock), (b) it is entering into or amending,
as the case may be, this Repurchase Plan in good faith and not as part of a
plan or scheme to evade the prohibitions of Rule 10b5-1 under the Exchange
Act or other applicable securities laws and (c) its execution of this
Repurchase Plan or amendment hereto, as the case may be, and the Purchases
contemplated hereby do not and will not violate or conflict with the Issuer’s
certificate of incorporation or by-laws or, if applicable, any similar
constituent document, or any law, rule regulation or agreement binding on
or applicable to the Issuer or any of its subsidiaries or any of its of their
property or assets.

 

6.                                       It is the intent of the parties that this
Repurchase Plan comply with the requirements of Rule 10b5-1(c)(1)(i)(B) and Rule 10b-18 under the Exchange Act, and
this Repurchase Plan shall be interpreted to comply with the requirements
thereof.

 

7.                                       The
Issuer shall, on the business day prior to the intended date of such purchase,
notify CGMI of the intention on the part of any affiliated purchaser, as
defined in Rule 10b-18, of the Issuer to purchase the Stock on any day if
such purchase is to be effected otherwise than through CGMI pursuant to this
Repurchase Plan and CGMI shall refrain from purchasing any Stock hereunder on
the day following receipt of such notice. 
The Issuer shall be solely responsible for any purchases made by CGMI as
the Issuer’s agent prior to CGMI’s receipt of such
written notice.  Notwithstanding the
foregoing, if CGMI receives such notice, CGMI may nevertheless be entitled to
make, and the Issuer shall be solely responsible for, a purchase hereunder
pursuant to a bid made before such notice is received by CGMI.  The Issuer shall be solely responsible for
notifying CGMI of any purchases of the Stock by any such affiliated purchaser,
and, without limiting the generality of Section 14 hereof, the Issuer
agrees to indemnify and hold harmless CGMI for any failure to so notify CGMI or
any error in any such notification.  The
Issuer also acknowledges that any action that it takes that causes or
influences any such affiliated purchaser to purchase the Stock may cause the
Daily Share Purchase Amount to be reduced.

 

3

 

8.                                       At the time of the Issuer’s execution of this
Repurchase Plan, the Issuer has not entered into a similar agreement with
respect to the Stock.  The Issuer agrees
not to enter into any such agreement while this Repurchase Plan remains in
effect.

 

9.                                       Except as specifically contemplated hereby, the
Issuer shall be solely responsible for compliance with all statutes, rules and
regulations applicable to the Issuer and the transactions contemplated hereby,
including, without limitation, reporting and filing requirements.

 

10.                                 This Repurchase Plan shall be governed by and
construed in accordance with the laws of the State of New York and may be
modified or amended only by a writing signed by the parties hereto.

 

11.                                 The Issuer represents and warrants that the
transactions contemplated hereby are consistent with the Issuer’s publicly
announced stock repurchase program (“Program”) and said Program has been duly
authorized by the Issuers’ board of directors.

 

12.                                 The
number of Total Plan Shares, other share amounts and prices, if applicable, set
forth in section 1(a) shall be adjusted automatically on a
proportionate basis to take into account any stock split, reverse stock split
or stock dividend with respect to the Stock or any change in capitalization
with respect to the Issuer that occurs during the term of this Repurchase Plan.

 

13.                                 Except
as contemplated by Section 3 (a) (3) of this Repurchase Plan,
the Issuer acknowledges and agrees that it does not have authority, influence
or control over any Purchase effected by CGMI pursuant to this Repurchase Plan
and the Issuer will not attempt to exercise any authority, influence or control
over Purchases.  CGMI agrees not to seek
advice from the Issuer with respect to the manner in which it effects Purchases under this Repurchase Plan.

 

4

 

14.                                 The Issuer agrees to indemnify and hold harmless
CGMI and its affiliates and their officers, directors employees and
representatives against any loss, claim, damage or liability, including legal
fees and expenses, arising out of any action or proceeding relating to this
Repurchase Plan or any Purchase, except to the extent that any such loss,
claim, damage or liability is determined in a non-appealable
determination of a court of competent jurisdiction to be solely the result of
the indemnified person’s willful misconduct.

 

15.                                 This
Repurchase Plan may be executed in any number of counterparts, all of which,
taken together, shall constitute one and the same agreement.

 

5

 

IN WITNESS
WHEREOF, the undersigned have signed this Repurchase Plan as of the date first
written above.

 

 

	
  Citigroup Global
  Markets, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
    /s/ Andrew L. Geissler

  	
   

  
	
   

  	
  Name:

  	
  Andrew L. Geissler

  
	
   

  	
  Title:

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  PepsiAmericas, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
    /s/ Andrew R. Stark

  	
   

  
	
   

  	
  Name:

  	
  Andrew R. Stark

  
	
   

  	
  Title:

  	
  Vice President and Treasurer

  
					

 

6

 

Appendix A

 

Request for Early Termination of Repurchase Plan

 

To: Citigroup Global Markets, Inc.

 

 As of the date hereof, PepsiAmericas, Inc.
hereby requests termination of the Repurchase Plan, dated September 6,
2005, in good faith and not as part of a plan or scheme to evade the
prohibitions of Rule 10b5-1 or other applicable securities laws.

 

IN WITNESS WHEREOF, the undersigned has signed this Request for Early
Termination of Plan as of the date specified below.

 

 

	
  PepsiAmericas, Inc.

  	
  Citigroup Global
  Markets, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Name:

  
	
   

  	
  Title:

  	
  Title:

  
					

 

 

ANNEX 1

 

TRADING PARAMETERS

 

Trading Period: From and including  September 12, 2005 through December 31, 2005

 

Daily Share Purchase
Amount:  Lesser of (a) 50,000 shares; (b) Exchange Act Rule 10b-18(b)(4) limit (25% of prior 4 weeks ADTV);
and (c) 33% of current trading day’s volume.

 

TRADE ORDER

 

Subject to Paragraph 4 and Paragraph 6 of the
Repurchase Plan dated September 6, 2005 (the “Repurchase Plan”) to which
this Annex I is attached, each day during the Trading Period on which the New
York Stock Exchange is open for business, CGMI shall use its best efforts to effect
a purchase or purchases (each, a “Purchase”) of the Daily Share Purchase
Amount, such Purchases cumulatively not to exceed the Total Plan Shares.  Capitalized terms used but not otherwise
defined herein shall have the meaning assigned thereto in the Repurchase Plan.

 

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