Document:

EX-10.16

 Exhibit 10.16 

Agreement Number: 00699180 

AMENDMENT NO. 12 TO THE 

OEM DISTRIBUTION AND LICENSE AGREEMENT AMONG 

ADOBE SYSTEMS INCORPORATED 

AND ADOBE SYSTEMS SOFTWARE IRELAND LIMITED 

AND ELECTRONICS FOR IMAGING, INC. 
 THIS
AMENDMENT NO. 12 (the “Amendment”) to the OEM Distribution and License Agreement dated September 19, 2005 with Adobe Internal Reference ID#41422 (the “Agreement”), is made by and among ADOBE SYSTEMS
INCORPORATED, a Delaware corporation having its principal place of business at 345 Park Avenue, San Jose, CA 95110-2704 (“Adobe Systems”), ADOBE SYSTEMS SOFTWARE IRELAND LIMITED, a company incorporated in Ireland and
having a place of business at Unit 3100, Lake Drive, Citywest Business Campus, Saggart D24, Dublin, Ireland (“Adobe Ireland”) (both individually in their countries and collectively referred to as “Adobe”) and
ELECTRONICS FOR IMAGING, INC., a company incorporated in Delaware and having a place of business at 6750 Dumbarton Circle, Fremont, CA 94555 (“EFI”), effective as of the date of last signature below. 

WHEREAS, the Initial Term of the Agreement was through September 19, 2010 and thereafter the term was to renew automatically for one year periods; 

WHEREAS, the term of the Agreement was extended to March 31, 2018 with Amendment No. 9 (Adobe Internal Reference ID# 355521); 

WHEREAS, the term extension date made it unclear as to whether the Agreement was to auto-renew; and 

WHEREAS, now the parties agree to add an auto-renew term extension clause back to the Agreement. 

NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby acknowledged, Adobe and OEM agree as follows: 

1. Section 12.1 “Term” of the Agreement is hereby deleted in its entirety and replaced with the Section 

12.1 “Term” below. 
 “Term. The term of
this Agreement as extended by Amendment No. 9 is through March 31, 2018. The Agreement may be terminated at any time for cause (as provided for in Section 12.2 below) or by the mutual written consent of the Parties. This Agreement
will renew automatically on April 1, 2018 and each one year anniversary thereafter for additional one year periods, unless either party gives written notice of its intent to terminate at least 180 days prior to an upcoming anniversary date.
Notwithstanding the provisions of this Section 12 (“Term and Termination”), the parties agree that this Agreement may not be terminated pursuant to this Section 12 (“Term and Termination”) or under
any other provision of this Agreement, under any circumstances, without first attempting to resolve the dispute, situation or circumstance giving rise to the possibility of such termination pursuant to Section 15 (“Dispute
Resolution”).” 
 2. All other terms and conditions of the Agreement will remain in full force and effect. Unless otherwise
defined herein, all terms used in this Amendment shall retain the same meanings as defined in the Agreement and such definitions are incorporated herein by reference. This Amendment may be executed in any number of counterparts, each of which shall
be deemed an original, but all of which together shall constitute one instrument. 
 [Signature blocks to follow on next page] 

 Agreement Number: 00699180 

 
 IN WITNESS WHEREOF, the parties have caused this Amendment No. 12 to be
executed by their duly authorized representatives. 
  

					
	Electronics For Imaging, Inc.	  	Adobe Systems Software Ireland Limited	  	Adobe Systems Incorporated
			
	Authorized Signature	  	Authorized Signature	  	Authorized Signature
			
	 /S/    TOBY WEISS
	  	 /S/    MONICA BEGUE
	  	 /S/    ERIC PIZIALI

	Toby Weiss	  	Monica Begue	  	Eric Piziali
	Print Name	  	Print Name	  	Print Name
			
	SVP, EFI	  	Manager Digital Media OM	  	WW Director of Revenue O
	Title	  	Title	  	Title
			
	Jan 31, 2018	  	Feb 1, 2018	  	Feb 1, 2018
	Date	  	Date	  	DateExhibit

Exhibit 10.22

FIRST AMENDMENT TO CONSTRUCTION LOAN AGREEMENT

THIS FIRST AMENDMENT TO CONSTRUCTION LOAN AGREEMENT (this “Amendment”) is entered into as of December 13, 2017, by and between SOUTHSIDE BANK, a Texas state bank ("Lender") and LANTANA PLACE, L.L.C., a Texas limited liability company ("Borrower").

WHEREAS, Borrower and Lender entered into a Construction Loan Agreement dated effective April 28, 2017 (the “Loan Agreement”) respecting a construction loan in the maximum principal amount of $26,310,482.00 for Borrower’s Project known as “Lantana Place” in Travis County, Texas; and

WHEREAS, the Loan is subject to conditions to advances as set forth in the Loan Agreement including, without limitation, a requirement that, as a condition to each advance, Lender shall have received and approved a signed ground lease agreement for a Hotel, together with a signed subordination, non-disturbance and attornment agreement (both of which shall be in form and substance satisfactory to Lender) and satisfactory evidence that the Hotel lease remains in effect and unmodified, except for any amendments approved in writing by Lender (the “Hotel Lease Condition”); and

WHEREAS, Borrower wants Lender to begin making Loan advances, but the Hotel Lease Condition has not yet been satisfied; and 

WHEREAS, Borrower has requested that Lender temporarily waive the Hotel Lease Condition, and Lender has agreed to do so on the terms hereinafter set forth; and 

WHEREAS, Borrower and Lender now desire to amend the Loan Agreement as hereinafter set forth.

NOW, THEREFORE, Borrower and Lender hereby represent, stipulate, covenant and agree as follows:

		
	1.
	Borrower’s Equity.   The amount of Borrower’s Equity required prior to the first Loan advance is hereby increased from $6,425,463.00 to $8,225,463.00.  Provided, however, when (i) the Hotel Lease Condition is satisfied, and (ii) Completion has occurred with respect to the Theater and the six other buildings comprising a total of approximately 99,663 square feet of class A rentable space to be constructed on the Land, then, the required Borrower’s Equity shall be reduced to $6,425,463.00, whereupon, subject to the conditions to advances set forth in the Loan Agreement, Borrower shall be entitled to a Loan advance in a sum equal to the then documented amount of Borrower’s Equity, minus $6,425,463.00.      

		
	2.
	Development Fee.   No Loan advance shall be made for any part of the development fee in the amount of $1,247,320.00 as set forth in the Budget (the “Development Fee”) until the Hotel Lease Condition and all other conditions to advances set forth in the Loan Agreement are satisfied.  

Exhibit 10.22

		
	3. 
	Waiver of Hotel Lease Condition.   Except as provided in Section 1 and Section 2 above, The Hotel Lease Condition is hereby waived.  No other conditions to advances are waived.  After Borrower receives a Loan advance to reduce Borrower’s Equity as permitted in Section 1 of this Amendment, or a Loan advance for any part of the Development Fee as provided in Section 2 of this Amendment, then the Hotel Lease Condition shall automatically be reinstated as a condition to all Loan advances.  

 
		
	4.
	Payment of Fees and Expenses.  Upon demand by Lender, Borrower shall promptly pay, or reimburse Lender for, all reasonable legal fees and any other expenses incurred by Lender in connection with this Amendment.

		
	5.
	Representations.  Borrower represents and warrants to Lender that each of the representations and warranties set forth in the Loan Agreement are true and correct as of the date of this Amendment, as if made on the date of this Amendment, except for any representations that are specifically limited to a specified date or time period prior to the date of this Amendment.  

		
	6.
	No Event of Default.   Borrower represents and warrants to Lender that no Event of Default exists under the terms of the Loan Agreement, as amended hereby, and to the best of Borrower’s knowledge, there exist no facts or circumstances that, with the giving of notice and the expiration of any applicable cure period, would reasonably be expected to become an Event of Default.

 
		
	7.
	Ratification.  Borrower and Lender hereby (i) ratify, adopt and reaffirm each of the terms and provisions of the Loan Agreement and the other documents evidencing or securing payment of the Loan, subject only to the modifications contained herein, and (ii) agree that no provisions of the documents evidencing or securing payment of the Loan have been waived, except as herein expressly provided.  

		
	8.
	Defined Terms.  Unless otherwise expressly provided herein, terms defined in the Loan Agreement shall have the same meaning when used in this Amendment.

		
	9.
	Counterparts and Signatures.  This Amendment may be signed in multiple counterparts, all of which take together shall constitute a single document.   Facsimile signatures are permissible and shall be as binding as original ink signatures. 

		
	10.
	Final Agreement.  THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

(End of Page – Signature Page Follows)

 First Amendment to Construction Loan Agreement for Lantana Place                                                       2

Exhibit 10.22

IN WITNESS WHEREOF, the parties have caused this First Amendment to Construction Loan Agreement to be duly executed as of the month, day and year first stated above.

LENDER:

SOUTHSIDE BANK

By:    /s/ Pam Cunningham        
Pam Cunningham, Executive VP

BORROWER:

LANTANA PLACE, L.L.C., a Texas limited liability company

By:    /s/ Erin D. Pikens        
Erin D. Pickens, Senior Vice President

 First Amendment to Construction Loan Agreement for Lantana Place                                                       3Exhibit

Exhibit 10.38

STRATUS PROPERTIES INC.
DIRECTOR COMPENSATION
(Effective January 1, 2018)

Cash Compensation

Each non-employee director of Stratus Properties Inc. (“Stratus”) receives an annual of $35,000.  The lead independent director receives an additional annual fee of $25,000. Committee chairs receive an additional annual fee as follows: Audit Committee, $17,500; Compensation Committee, $12,500; and Nominating and Corporate Governance Committee, $10,000.  Each committee member, excluding the chair of each committee, receives an additional annual fee as follows: Audit Committee members, $7,500; Compensation Committee members, $6,000; and Nominating and Corporate Governance Committee, $5,000. Each director also receives reimbursement for reasonable out-of-pocket expenses incurred in attending board and committee meetings.

Equity-Based Compensation

Each non-employee director receives equity-based compensation under Stratus’ stock incentive plans, which were approved by Stratus’ stockholders.  On September 1st of each year, each non-employee director receives a grant of restricted stock units (RSUs) having a grant date fair value equal to $45,000. The RSUs vest ratably over the first four anniversaries of the grant date. Each RSU entitles the director to receive one share of Straus common stock upon vesting.

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