Document:

Exhibit 10.11

 

MWI HOLDINGS, INC.

2002 STOCK OPTION PLAN

 

ARTICLE I

Purpose of Plan

 

This 2002 Stock Option
Plan (the “Plan”) of MWI Holdings, Inc. (the “Company”), adopted by the
Board of Directors of the Company on June 18, 2002, for directors,
executives and other key employees of the Company, is intended to advance the
best interests of the Company by providing those persons who have a substantial
responsibility for its management and growth with additional incentives by
allowing them to acquire an ownership interest in the Company and thereby
encouraging them to contribute to the success of the Company and to remain in
its employ. The availability and offering of stock options under the Plan also
increases the Company’s ability to attract and retain individuals of
exceptional managerial talent upon whom, in large measure, the sustained
progress, growth and profitability of the Company depends. The Plan is a
compensatory benefit plan within the meaning of Rule 701 under the
Securities Act and, unless and until the Common Stock is publicly traded, the
issuance of stock purchase options and Common Stock pursuant to the Plan is
intended to qualify for the exemption from registration under the Securities
Act provided by Rule 701.

 

ARTICLE II

Definitions

 

For purposes of the Plan,
except where the context clearly indicates otherwise, the following terms shall
have the meanings set forth below:

 

“Board” shall mean the
Board of Directors of the Company.

 

“Code” shall mean the
Internal Revenue Code of 1986, as amended, and any successor statute.

 

“Committee” shall mean
the committee of the Board which may be designated by the Board to administer
the Plan. The Committee shall be composed of two or more directors as appointed
from time to time to serve by the Board.

 

“Common Stock” shall mean
the Company’s Common Stock, par value $.0l per share, or if the outstanding
Common Stock is hereafter changed into or exchanged for different stock or
securities of the Company, such other stock or securities.

 

“Company” has the meaning
ascribed thereto in Article I hereof

 

“Option Agreement” has
the meaning ascribed thereto in Section 6.2 hereof

 

“Options” shall have the
meaning set forth in Article IV.

 

 

“Participant” shall mean
any executive or other key employee or director of the Company or any
Subsidiary who has been selected to participate in the Plan by the Committee or
the Board.

 

“Person” means an
individual, a partnership, a corporation, a limited liability company, an
association, a joint stock company, a trust, a joint venture, an unincorporated
organization and a governmental entity or any department, agency or political
subdivision thereof.

 

“Plan” has the meaning
ascribed thereto in Article I hereof.

 

“Securities Act” means
the Securities Act of 1933 as amended.

 

“Stockholders Agreement”
means that Stockholders Agreement dated as of June 18, 2002 by and among
the Company and the Company’s stockholders, attached as Exhibit A hereto.

 

“Subsidiary” means any
subsidiary corporation (as such term is defined in Section 424(f) of
the Code) of the Company.

 

ARTICLE III

Administration

 

The Plan shall be
administered by the Committee; provided that if for any reason the Committee
shall not have been appointed by the Board, all authority and duties of the
Committee under the Plan shall be vested in and exercised by the Board. Subject
to the limitations of the Plan, the Committee shall have the sole and complete
authority to: (i) select Participants, (ii) grant Options to
Participants in such forms and amounts as it shall determine, (iii) impose
such limitations, restrictions and conditions upon such Options as it shall
deem appropriate, (iv) interpret the Plan and adopt, amend and rescind
administrative guidelines and other rules and regulations relating to the
Plan, (v) correct any defect or omission or reconcile any inconsistency in
the Plan or in any Option granted hereunder and (vi) make all other
determinations and take all other actions necessary or advisable for the
implementation and administration of the Plan. The Committee’s determinations
on matters within its authority shall be conclusive and binding upon the
Participants, the Company and all other Persons. All expenses associated with
the administration of the Plan shall be borne by the Company. The Committee
may, as approved by the Board and to the extent permissible by law, delegate
any of its authority hereunder to such persons as it deems appropriate.

 

ARTICLE IV

Limitation on Aggregate Shares

 

The number of shares of
Common Stock with respect to which options may be granted under the Plan (the “Options”)
and which may be issued upon the exercise thereof shall not exceed, in the
aggregate, 98,901 shares; provided that the type and the aggregate number of
shares which may be subject to Options shall be subject to adjustment in
accordance with the provisions of Section 6.7 below, and further provided
that to the extent any Options expire

 

2

 

unexercised or are
canceled, terminated or forfeited in any manner without the issuance of Common
Stock thereunder, or if any Options are exercised and the shares of Common
Stock issued thereunder are repurchased by the Company, such shares shall again
be available under the Plan. Shares of Common Stock available under the Plan
may be either authorized and unissued shares, treasury shares or a combination
thereof as the Committee shall determine.

 

ARTICLE V

Awards

 

Section 5.01.                             Options.
The Committee may grant Options to Participants at any time prior to the
termination of this Plan in such quantity, at such price, on such terms and
subject to such conditions that are consistent with this Plan and established
by the Committee. Options granted under this Plan shall be subject to such
terms and conditions and evidenced by agreements as shall be determined from
time to time by the Committee.

 

Section 5.02.                             Form of
Option. Options granted under this Plan shall be nonqualified stock
options and are not intended to be “incentive stock options” within the meaning
of Section 422 of the Code or any successor provision.

 

Section 5.03.                             Exercise Price. The
option exercise price per share of Common Stock shall be fixed by the Committee
at the time of grant.

 

Section 5.04.                             Exercise Procedure.
Options shall be exercisable, to the extent they are vested, at any such time
or times after the date of grant of such Options and prior to the date of
expiration thereof, subject to such conditions or restrictions as the Committee
shall decide in each case when the Options are granted. At the time a
Participant’s exercise of Options, such Participant shall be required to
execute a joinder agreement making such Participant a party to the Stockholders
Agreement.

 

Section 5.05.                             Vesting.
Options may vest in one or more installments, upon the passage of specified
periods of time, upon the achievement by the Company of certain performance
goals, or upon such other criteria, as the Committee shall decide in each case
when the Options are granted.

 

Section 5.06.                             Terms
of Options. The Committee shall determine the term of each Option
(including any early expirations thereof), which term
shall in no event exceed ten years from the date of grant.

 

ARTICLE VI

General Provisions

 

Section 6.01.                             Repurchase Right.
In the event a Participant’s employment with the Company is terminated for any
reason, the shares issued upon exercise of Options (whether held by such
Participant or one or more transferees and including any shares issued upon
exercise of Options acquired subsequent to such termination of employment) will
be subject to repurchase

 

3

 

by the Company pursuant to the
terms and conditions set forth in such Participant’s Option Agreement.

 

Section 6.02.                             Written
Agreement. Each Option granted hereunder shall be embodied in a
written agreement (an “Option Agreement”) which shall be signed by the
Participant to whom the Option is granted and by the Chairman or the President
of the Company for and in the name and on behalf of the Company and shall be
subject to the terms and conditions as set forth herein.

 

Section 6.03.                             Listing,
Registration and Compliance with Laws and Regulations. Options shall
be subject to the requirement that if at any time the Committee shall
determine, in its discretion, that the listing, registration or qualification
of the shares subject to the Options upon any securities exchange or under any
state or federal securities or other law or regulation, or the consent or
approval of any governmental regulatory body, is necessary or desirable as a
condition to or in connection with the granting of the Options or the issuance
or purchase of shares thereunder, no Options may be granted or exercised, in
whole or in part, unless such listing, registration, qualification, consent or
approval shall have been effected or obtained free of any conditions not
acceptable to the Committee. The holders of such Options shall supply the
Company with such certificates, representations and information as the Company
shall request and shall otherwise cooperate with the Company in obtaining such
listing, registration, qualification, consent or approval. In the case of
officers and other Persons subject to Section 16(b) of the Securities
Exchange Act of 1934, as amended, the Committee may at any time impose any
limitations upon the exercise of an Option that, in the Committee’s discretion,
are necessary or desirable in order to comply with such Section 16(b) and
the rules and regulations thereunder. If the Company, as part of an
offering of securities or otherwise, finds it desirable because of federal or
state regulatory requirements to reduce the period during which any Options may
be exercised, the Committee, may, in its discretion and without the Participant’s
consent, so reduce such period on not less than 15 days’ written notice to the
holders thereof.

 

Section 6.04.                             Withholding
of Taxes. The Company shall be entitled, if necessary or desirable,
to withhold from any Participant from any amounts due and payable by the
Company to such Participant (or secure payment from such Participant in lieu of
withholding) the amount of any withholding or other tax due from the Company
with respect to any shares issuable under the Options, and the Company may
defer such issuance unless indemnified to its satisfaction.

 

Section 6.05.                             Notification
of Inquiries and Agreements. Each Participant and each Permitted
Transferee shall notify the Company in writing within 10 days after the date
such Participant or Permitted Transferee (i) first obtains knowledge of
any Internal Revenue Service inquiry, audit, assertion, determination,
investigation, or question relating in any manner to the value of Options
granted hereunder; (ii) includes or agrees (including, without limitation,
in any settlement, closing or other similar agreement) to include in gross
income with respect to any Option granted under this Plan (A) any amount
in excess of the amount reported on Form 1099 or Form W-2 to
such Participant by the Company, or (B) if no such Form was received,
any amount; and/or (iii) exercises, sells, disposes of, or otherwise
transfers an Option acquired pursuant to this Plan. Upon request, a Participant
or Permitted Transferee shall provide to the

 

4

 

Company
any information or document relating to any event described in the preceding
sentence which the Company (in its sole discretion) requires in order to
calculate and substantiate any change in the Company’s tax liability as a
result of such event.

 

Section 6.06.                             Options
Not Transferrable. Options may not be transferred other than by will
or the laws of descent and distribution and, during the lifetime of the
Participant to whom they were granted, may be exercised only by such
Participant (or, if such Participant is incapacitated, by such Participant’s
legal guardian or legal representative). In the event of the death of a
Participant, Options which are not vested on the date of death shall terminate;
exercise of Options granted hereunder to such Participant, which are vested as
of the date of death, may be made only by the executor or administrator of such
Participant’s estate or the Person or Persons to whom such Participant’s rights
under the Options will pass by will or the laws of descent and distribution.

 

Section 6.07.                             Adjustments.
In the event of a reorganization, recapitalization, stock dividend or stock
split, or combination or other change in the shares of Common Stock, the Board
or the Committee may, in order to prevent the dilution or enlargement of rights
under outstanding Options, make such adjustments in the number and type of
shares authorized by the Plan, the number and type of shares covered by
outstanding Options and the exercise prices specified therein as may be
determined to be appropriate and equitable.

 

Section 6.08.                             Rights
of Participants. Nothing in the Plan shall interfere with or limit
in any way the right of the Company or any Subsidiary to terminate any
Participant’s employment at any time (with or without cause), or confer upon
any Participant any right to continue in the employ of the Company or any
Subsidiary for any period of time or to continue to receive such Participants
current (or other) rate of compensation. No employee shall have a right to be
selected as a Participant or, having been so selected, to be selected again as
a Participant.

 

Section 6.09.                             Amendment,
Suspension and Termination of Plan. The Board or the Committee may
suspend or terminate the Plan or any portion thereof at any time and may amend
it from time to time in such respects as the Board or the Committee may deem
advisable; provided that no such amendment shall be made without stockholder
approval to the extent such approval is required by law, agreement or the rules of
any exchange upon which the Common Stock is listed, and no such amendment,
suspension or termination shall impair the rights of Participants under
outstanding Options without the consent of the Participants affected thereby.
No Options shall be granted hereunder after the tenth anniversary of the
adoption of the Plan.

 

Section 6.10.                             Amendment,
Modification and Cancellation of Outstanding Options. The Committee
may amend or modify any Option in any manner to the extent that the Committee
would have had the authority under the Plan initially to grant such Option;
provided that no such amendment or modification shall impair the rights of any
Participant under any Option without the consent of such Participant. With the
Participant’s consent, the Committee may cancel any Option and issue a new
Option to such Participant.

 

5

 

Section 6.11.                             Indemnification.
In addition to such other rights of indemnification as they may have as members
of the Board or the Committee, the members of the Committee shall be
indemnified by the Company against all costs and expenses reasonably incurred
by them in connection with any action, suit or proceeding to which they or any
of them may be party by reason of any action taken or failure to act under or
in connection with the Plan or any Option granted thereunder, and against all
amounts paid by them in settlement thereof (provided such settlement is
approved by independent legal counsel selected by the Company) or paid by them
in satisfaction of a judgment in any such action, suit or proceeding; provided
that any such Committee member shall be entitled to the indemnification rights
set forth in this Section 6.11 only if such member has acted in good faith
and in a manner that such member reasonably believed to be in or not opposed to
the best interests of the Company and, with respect to any criminal action or
proceeding, had no reasonable cause to believe that such conduct was unlawful,
and further provided that upon the institution of any such action, suit or
proceeding a Committee member shall give the Company written notice thereof and
an opportunity, at its own expense, to handle and defend the same before such
Committee member undertakes to handle and defend it on his own behalf.

 

Section 6.12.                             Restricted
Securities. All Common Stock issued pursuant to the terms of this
Plan shall constitute “restricted securities,” as that term is defined in Rule 144
promulgated by the Securities and Exchange Commission pursuant to the
Securities Act, and may not be transferred except in compliance with the
registration requirements of the Securities Act or an exemption therefrom.

 

*                                         *                                         *                                         *

 

6Exhibit 10.12

 

Execution Copy

 

MANAGEMENT AND CONSULTING SERVICES AGREEMENT

 

THIS MANAGEMENT AND CONSULTING
SERVICES AGREEMENT is entered into as of June 18, 2002
by and among Bruckmann, Rosser, Sherrill & Co., L.L.C., a Delaware limited
liability company (“Consultant”), Agri Beef Co. (“AgriBeef”), and
MWI Veterinary Supply Co., a Delaware corporation (“Company”).

 

In consideration of the
foregoing premises and the respective agreements hereinafter set forth and the
mutual benefits to be derived from this Agreement, Consultant and the Company
hereby agree as follows:

 

1.                                      Definitions.

 

An “Affiliate” of
any Person means any other Person controlling, controlled by or under common
control with such first Person.

 

“Common Stock”
means the Common Stock of MWI Holdings, Inc.

 

“EBITDA” means,
with respect to any fiscal year, the consolidated net income of the Company
(derived from the Company’s consolidated audited financial statements for such
fiscal year) plus the sum of (i) interest expense, (ii) income tax expense and
(iii) depreciation and amortization expense, excluding the effect of (A) any
management or advisory fees paid by the Company, (B) any payments by the
Company to employees with respect to stock appreciation rights, and (C) any
non-cash charges related to the issuance or vesting of management stock
options, when and as accrued, each determined in accordance with generally
accepted accounting principles, applied consistently with past practices of the
Company.

 

“Person” means an
individual, a partnership, a limited liability company, a corporation, an
association, a joint stock company, a trust, a joint venture, an unincorporated
organization or any governmental entity.

 

With respect to the
Company, a “Subsidiary” means any corporation, partnership, limited
liability company, association or other business entity of which a majority of
the total voting power of shares of stock entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers
or trustees thereof, or a majority economic interest, is at the time owned or
controlled, directly or indirectly, by the Company or one or more of the other
Subsidiaries of the Company or a combination thereof.

 

2.                                      Services of Consultant.  The Consultant hereby agrees during the term
of this Agreement to consult with the Company’s Board of Directors (the “Board”),
and management of the Company, in such manner and on such business and
financial matters as the Board may reasonably request from time to time,
including but not limited to corporate strategy, budgeting of future corporate
investments, acquisition and divestiture strategies, and debt and equity
financing (the “Services”).

 

 

3.                                      Personnel.  Consultant will provide and devote to the
performance of the Services those officers, employees and agents which
Consultant deems appropriate for the furnishing of the Services.

 

4.                                      Compensation of Consultant.

 

As consideration payable
to the Consultant or any of its affiliates for providing the Services, the
Company shall make the following payments to the Consultant:

 

(i)                                     An
annual management fee in respect of each fiscal year of the Company in an
amount equal to the greater of (x) $250,000, and (y) two and one-half percent
of EBITDA for such fiscal year (the “Management Fee”).  The Management Fee shall be payable semi-annually
in advance on each October 3 and April 3 (the “Payment Due Dates”),
commencing October 3, 2002, in an amount equal to the greater of (i)
$125,000 (representing one-half of $250,000), and (ii) two and one-half percent
of the budgeted EBITDA, as determined by the Board by reference to the Company’s
budget for such period, for the two full fiscal quarters immediately following
such payment date.  In the event that it
shall be determined following the end of each fiscal year of the Company, that
the amount equal to the greater of (1) $250,000 and (2) two and one-half
percent of EBITDA (as determined by the Board by reference to the Company’s
consolidated audited financial statements for such fiscal year) for such fiscal
year, exceeds the amount of cash actually paid to the Consultant for such
fiscal year, the Company shall promptly pay an amount equal to such excess to
the Consultant in respect of the Management Fee, and in the event that it shall
be determined that the amount of cash actually paid to the Consultant for such
fiscal year exceeds the greater of (1) $250,000 and (2) two and one-half
percent of EBITDA for such fiscal year, an amount equal to such excess shall be
offset against the next payment payable to the Consultant hereunder; provided
that notwithstanding anything to the contrary herein, AgriBeef shall be
entitled to be paid the Relative Percentage (as calculated on the date of
payment of the Management Fee) of the Management Fee otherwise payable to Consultant
hereunder, at such times as any amounts are paid to Consultant hereunder, and
the amount of the Management Fee thus payable to Consultant at any such time
shall be reduced by such amount paid to AgriBeef; provided that the “Relative
Percentage” shall, on any date, equal the quotient (expressed as a
percentage) equal to (a) the number of shares of Common Stock held by AgriBeef
on such date, divided by (b) the aggregate number of shares of Common Stock
held by AgriBeef and Bruckmann, Rosser, Sherrill & Co. II, L.P. on such
date.

 

(ii)                                  Interest,
which will accrue on any unpaid Management Fee at a rate per annum equal to 12%
calculated on a semi-annual basis; provided that such interest shall be paid
upon payment of such Management Fee; and

 

(iii)                               Actual
and direct out-of-pocket expenses (including fees and disbursements of
attorneys, accountants and other professionals and Consultants retained by
Consultant in connection with the Services provided hereunder) incurred by the
Consultant and its personnel in performing the Services, which shall be
reimbursed to the Consultant by the Company upon the delivery of rendering of a
statement such supporting data as the Company reasonably shall require.

 

2

 

In the event the Company
acquires other entities (including by way of merger, consolidation or
otherwise), the Management Fee shall be subject to increase in an amount that
is mutually agreed upon by the Company and Consultant.

 

5.                                      Closing Payment.  In addition to the Management Fee, in
consideration of Consultant’s provision of services in connection with the
transactions contemplated by the Recapitalization and Stock Purchase Agreement,
dated as of the date hereof, by and among the Company, AgriBeef and certain
other parties thereto, the Company shall, upon consummation of such
transactions, pay to the Consultant a fee of $1,250,000 and shall reimburse
Consultant for the out-of-pocket expenses incurred by it or its Affiliates in
connection with such transaction.

 

6.                                      Indemnification.  In the event that the Consultant or any of
its affiliates, principals, partners, directors, members, stockholders,
employees, agents and representatives (collectively, the “Indemnified
Parties”) becomes involved in any capacity in any action, proceeding or
investigation in connection with any matter referred to in or contemplated by
this Agreement, or in connection with the Services, the Company will indemnify
and hold harmless the Indemnified Parties from and against any actual or threatened
claims, lawsuits, actions or liabilities (including out-of-pocket expenses and
the fees and expenses of counsel and other litigation costs and the cost of any
preparation or investigation of any kind or nature (“Losses”)), arising
as a result of or in connection with this Agreement and the Services, and will
periodically reimburse the Consultant for its expenses as described above,
except that the Company will not be obligated to so indemnify any Indemnified
Party if, and to the extent that, such claims, lawsuits, actions or liabilities
against such Indemnified Party directly result from the gross negligence or
willful misconduct of such Indemnified Party as admitted in any settlement by
such Indemnified Party or held in any final, non-appealable judicial or
administrative decision.  In connection
with such indemnification, the Company will promptly remit or pay to the
Consultant any amounts which the Consultant certifies to the Company in writing
are payable to the Consultant or other Indemnified Parties hereunder.  The reimbursement and indemnity obligations
of the Company under this Section 6 shall be in addition to any liability
which the Company may otherwise have, shall extend upon the same terms and
conditions to any Indemnified Party, as the case may be, of the Consultant and
any such affiliate and shall be binding upon and inure to the benefit of any
successors, assigns, heirs and personal representatives of the Company, the
Consultant and any such Indemnified Party. 
The foregoing provisions shall not supersede any obligation of a party
hereto to provide indemnification to another party hereto pursuant to any other
agreement among such parties, or to release such indemnifying party from any
indemnification obligation pursuant to such other agreement.  The provisions of this Section 6 shall
survive the termination of this Agreement.

 

7.                                      Termination. This agreement and the
Company’s engagement of the Consultant hereunder shall terminate on the earlier
of (i) the tenth annual anniversary of the date hereof upon mutual agreement of
the Consultant and the Company, and (ii) the date on which Bruckmann, Rosser,
Sherrill & Co. II, L.P. ceases to hold at least 25% of the shares of Common
Stock it holds as of the date hereof.  No
termination of this Agreement, whether pursuant to this Section 7 or
otherwise, will affect the Company’s duty to pay any Management Fee accrued, or
to reimburse any cost or expense incurred, prior to the effective date of that
termination.

 

3

 

8.                                      Independent Contractor Status.  The Consultant and the Company agree that the
Consultant will perform services under this Agreement as an independent
contractor, retaining control over and responsibility for its own operations
and personnel.  Neither the Consultant
nor its officers, employees or agents will be considered employees or agents of
the Company or any of its respective Subsidiaries as a result of this Agreement
nor will any of them have authority to contract in the name of or bind the
Company by reason of this Agreement, except as any such Company may expressly
agree in writing.

 

9.                                      Amendment and Waiver.  No modification, amendment or waiver of any
provision of this Agreement will be effective unless approved in writing by the
Company and Consultant; provided that no amendment of the last proviso in Section 4(i)
shall be effective unless approved in writing by the Company, Consultant and
AgriBeef.  The failure of either the
Company or Consultant to enforce any of the provisions of this Agreement will
in no way be construed as a waiver of such provisions and will not affect the
right of such party thereafter to enforce each and every provision of this
Agreement in accordance with its terms.

 

10.                               Notices.  Any notice provided for in this Agreement
will be in writing and will be either personally delivered, or mailed by first
class mail, return receipt requested, or sent by reputable overnight courier,
in each case with delivery charges or postage prepaid, to the recipient at the
address below indicated:

 

4

 

Notices to Consultant:

 

Bruckmann, Rosser,
Sherrill & Co., L.L.C.

126 East 56th Street

29th Floor

New York, NY 10022

Attention:  Bruce Bruckmann and Brett Pertuz

 

with a copy (which shall
not constitute notice to the Consultant) to:

 

Kirkland & Ellis

153 East 53rd Street

New York, NY  10022

Attention:  Eunu Chun

 

Notices to the Company:

 

MWI Veterinary Supply Co.

2201 N. 20th
Street

Nampa, ID 83687

Attention:  President

 

Notices to AgriBeef:

 

Agri Beef Co.

1555 Shoreline Drive, 3rd
Floor

P.O. Box 6640

Boise, Idaho  83702

Attn: Robert Rebholtz and
Rick Stott

 

with a copy to (which shall not constitute notice to
AgriBeef):

 

Christensen, Miller, Fink, Jacobs, Glaser, Weil &
Shapiro, LLP

2121 Avenue of the Stars, 18th Floor

Los Angeles, CA 90067

Attn: Barry E. Fink and Jeffrey Soza

 

or to such other address
or to the attention of such other Person as the recipient party will have
specified by prior written notice to the sending party.  Any notice under this Agreement will be
deemed to have been given when so delivered or mailed.

 

11.                               Severability.  Whenever possible, each provision of this
Agreement will be interpreted in such a manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be
invalid, illegal or unenforceable in any respect under any applicable law or
rule in any jurisdiction, such invalidity, illegality or unenforceability will
not affect the validity, legality or enforceability of any other provision of
this Agreement in such

 

5

 

jurisdiction or affect
the validity, legality or enforceability of any provision in any other
jurisdiction, but this Agreement will be reformed, construed and enforced in
such jurisdiction as if such invalid, illegal or unenforceable provision had
never been contained in this Agreement.

 

12.                               Entire Agreement.  This Agreement embodies the complete
agreement and understanding among the parties to this Agreement with respect to
the subject matter of this Agreement and supersedes and preempts any prior
understandings, agreements or representations by or among the parties, written
or oral, which may have related to the subject matter of this Agreement in any
way.

 

13.                               Successors and Assigns.  This Agreement shall inure to the benefit of
and be binding upon the parties and their successors and assigns.  However, neither this Agreement nor any of
the rights of the parties hereunder may be transferred or assigned by either
party hereto, except that (i) if the Company shall merge or consolidate
with or into, or sell or otherwise transfer substantially all its assets to,
another corporation which assumes the Company’s obligations under this
Agreement, the Company may assign its rights hereunder to that corporation, and
(ii) Consultant may assign its rights and obligations hereunder to any other
person or entity controlled, and which continues to be so controlled, directly
or indirectly, by Bruce C. Bruckmann, Harold O. Rosser II, Stephen C. Sherrill,
Stephen F. Edwards and Paul Kaminski. 
Any attempted transfer or assignment in violation of this Section 13
shall be void.

 

14.                               Counterparts.  This Agreement may be executed simultaneously
in two or more counterparts, any one of which need not contain the signatures
of more than one party, but all such counterparts taken together will
constitute one and the same Agreement.

 

15.                               Descriptive Headings.  The descriptive headings of this Agreement
are inserted for convenience only and do not constitute a substantive part of
this Agreement.

 

16.                               Governing Law.  All issues and questions
concerning the construction, validity, interpretation and enforcement of this
Agreement will be governed by and construed in accordance with the domestic laws
of the State of New York, without giving effect to any choice of law or
conflict provision or rule (whether of the State of New York or of any other
jurisdiction) that would cause the laws of any jurisdiction other than the
State of New York to be applied.  In
furtherance of the foregoing, the internal law of the State of New York will
control the interpretation and construction of this Agreement, even if under
that jurisdiction’s choice of law or conflict of law analysis, the substantive
law of some other jurisdiction would ordinarily apply.

 

17.                               Waiver of Jury Trial.  EACH PARTY TO THIS AGREEMENT HEREBY WAIVES,
TO THE EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY LITIGATION IN
ANY COURT WITH RESPECT TO, IN CONNECTION WITH, OR ARISING OUT OF THIS AGREEMENT
OR ANY ANCILLARY AGREEMENT OR THE VALIDITY, PROTECTION, INTERPRETATION,
COLLECTION OR ENFORCEMENT THEREOF.

 

6

 

18.                               No Strict Construction.  The parties to this Agreement have
participated jointly in the negotiation and drafting of this Agreement.  In the event an ambiguity or question of
intent or interpretation arises, this Agreement will be construed as if drafted
jointly by the parties, and no presumption or burden of proof will arise
favoring or disfavoring any party by virtue of the authorship of any of the
provisions of this Agreement.

 

*      *     
*      *

 

7

 

IN WITNESS WHEREOF, the
parties hereto have executed this Management and Consulting Services Agreement
as of the day and year first above written.

 

	
   

  	
  MWI
  VETERINARY SUPPLY CO.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Mary Pat Thompson

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BRUCKMANN,
  ROSSER, SHERRILL &

  CO., L.L.C.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Bruce C. Bruckmann

  	
   

  
	
   

  	
   

  	
  Name:
  Bruce C. Bruckmann

  
	
   

  	
   

  	
  Title:
  Managing Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AGRI
  BEEF CO.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  W.B. Rawlings

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}]]