Document:

ex10-25.htm

EXHIBIT 10.25

 

 

AMENDMENT NUMBER TWO TO THE

SEPARATION, GENERAL RELEASE AND NON-COMPETE AGREEMENT

 

This Amendment Number Two (the “Second Amendment”), by and between Superior Uniform Group, Inc., with its principal offices at 10055 Seminole Boulevard, Seminole, Florida 33772 (“Superior” or the “Company”), and Gerald M. Benstock (“Benstock”), is made as of November 8, 2016 (the “Second Amendment Effective Date”). Superior and Benstock may hereinafter each be referred to as a “Party,” or collectively as the “Parties.”

 

WHEREAS, Superior and Benstock entered into a Separation, General Release and Non-Compete Agreement, effective December 17, 2012; and 

 

WHEREAS, Superior and Benstock entered into Amendment Number One to the Separation, General Release and Non-Compete Agreement, effective November 17, 2015 (together with the Separation, General Release and Non-Compete Agreement, the “Agreement”); and

 

WHEREAS, Superior has determined that it would gain value from Benstock continuing to provide advisory services to the Company and Benstock has determined that he would like to continue to provide advisory services to the Company; and

 

WHEREAS, the Parties wish to further amend the Agreement.

 

NOW THEREFORE, the Parties, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, agree as follows:

 

1.     The initial recitals stated above are true and correct and are incorporated by reference. Capitalized terms have the meaning ascribed to them in the Agreement, unless otherwise defined in this Second Amendment. 

 

2.     As of the Second Amendment Effective Date, Section 1 of the Agreement is deleted in its entirety and replaced with the following: 

 

This Agreement is effective from December 16, 2012 through December 15, 2017, inclusive (the “Term”). The Term shall be comprised of five (5) one-year periods (each, a “Period”), each of which commences on December 16 of its respective year (each, a “Period Start Date”).

 

3.     As of the Second Amendment Effective Date, Section 14 of the Agreement is amended as follows:

 

	 	
a.
	
The words six hundred thousand dollars ($600,000.00) are deleted and replaced with “seven hundred and fifty thousand dollars ($750,000.00)”; and

 

	 	
b.
	
The following sentence shall replace current final sentence of the section: 

 

The one hundred and fifty thousand dollars ($150,000.00) that pertains to the fifth Period of the Agreement shall be paid in four (4) equal installments, with each installment payment to be paid according to the following schedule: first payment to be made during the month of December, 2016, but in no event before the applicable Period Start Date; the second payment to be made during March, 2017; the third payment to be made during June, 2017; and the fourth payment to be made during September, 2017. 

 

 

 

1

 

 

4.     The remaining terms and conditions of the Agreement remain unchanged and are hereby ratified and confirmed. 

 

 

 

IN WITNESS WHEREOF, a duly authorized representative of each Party has executed this Second Amendment as of the Second Amendment Effective Date. 

 

GERALD M. BENSTOCK

 

 

 

/s/ Gerald M. Benstock                         

 

Gerald M. Benstock

 

 

 

 

 

 

 

SUPERIOR UNIFORM GROUP, INC.

 

/s/ Sidney Kirschner                    

 

Sidney Kirschner

 

Chairperson of the Board of Directors

 

 

 

 

 

/s/ Michael Benstock                    

 

Michael Benstock

 

Chief Executive Officer

 

 

2ex4-2 e.htm

Exhibit 4.2 (e)

 

SUPPLEMENTAL INDENTURE

 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of October 26, 2016 among Mines Management, Inc., an Idaho corporation (“Mines Management”), Newhi, Inc., a Washington corporation (“Newhi”), Montanore Minerals Corp., a Delaware corporation (“Montanore” and, together with Mines Management and Newhi, the “Guaranteeing Subsidiaries” and each a “Guaranteeing Subsidiary”), each of which is a direct or indirect subsidiary of Hecla Mining Company (or its permitted successor), a Delaware corporation (the “Company”), the Company, the other Guarantors (as defined in the Indenture referred to herein) and The Bank of New York Mellon Trust Company, N.A., as trustee under the Indenture referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture, dated as of April 12, 2013 (the “Indenture”), providing for the issuance of the Company’s 6.875% Senior Notes due 2021 (the “Notes”);

 

WHEREAS, the Indenture provides that under certain circumstances each Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which such Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Note Guarantee”); and

 

WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiaries and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

1.     CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 

2.     AGREEMENT TO GUARANTEE. Each Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Note Guarantee and in the Indenture including but not limited to Article 10 thereof.

 

3.     NO RECOURSE AGAINST OTHERS. No director, officer, employee, incorporator or stockholder of the Company or any Guarantor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, this Indenture, the Note Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws.

 

 

 

1

 

 

4.     NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

5.     COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.

 

6.     EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof.

 

7.     THE TRUSTEE. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiaries and the Company.

 

 

 

2

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written.

 

Dated: October 26, 2016

 

	 	
GUARANTEEING SUBSIDIARIES:
	 
	 	 	 
	
 
	
MINES MANAGEMENT, INC.
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Dean W.A. McDonald
	
 

	
 
	
Name: 
	
Dean W.A. McDonald
	
 

	
 
	
Title: 
	
President
	
 

            

 

	
 
	
NEWHI, INC.
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Dean W.A. McDonald
	
 

	
 
	
Name:
	
Dean W.A. McDonald
	
 

	
 
	
Title:
	
President
	
 

 

 

	
 
	
MONTANORE MINERALS CORP.
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Dean W.A. McDonald
	
 

	
 
	
Name: 
	
Dean W.A. McDonald
	
 

	
 
	
Title:
	
President
	
 

 

 

	
 
	
HECLA MINING COMPANY
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Lindsay A. Hall
	
 

	
 
	
Name:
	
Lindsay A. Hall
	
 

	
 
	
Title: 
	
Sr. Vice President & CFO
	
 

 

 

	
[Signature Page to Supplemental Indenture]

 

 

3

 

    

	 	
GUARANTORS:
	 
	 	 	 
	
 
	
HECLA LIMITED
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Lindsay A. Hall
	
 

	
 
	
Name: 
	
Lindsay A. Hall
	
 

	
 
	
Title: 
	
Vice President
	
 

  

 

	
 
	
HECLA ADMIRALTY COMPANY
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Dean W.A. McDonald
	
 

	
 
	
Name:
	
Dean W.A. McDonald
	
 

	
 
	
Title:
	
Vice President
	
 

 

 

	
 
	
HECLA SILVER VALLEY, INC. 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Dean W.A. McDonald
	
 

	
 
	
Name:
	
Dean W.A. McDonald
	
 

	
 
	
Title:
	
President
	
 

 

 

	
 
	
HECLA MC SUBSIDIARY, LLC 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Daniel A. Nelson
	
 

	
 
	
Name:
	
Daniel A. Nelson
	
 

	
 
	
Title:
	
President
	
 

 

 

	
 
	
RIO GRANDE SILVER, INC. 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Dean W.A. McDonald
	
 

	
 
	
Name:
	
Dean W.A. McDonald
	
 

	
 
	
Title:
	
President
	
 

 

	
 
	
SILVER HUNTER MINING COMPANY
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Dean W.A. McDonald
	
 

	
 
	
Name:
	
Dean W.A. McDonald
	
 

	
 
	
Title:
	
President
	
 

 

 

	
[Signature Page to Supplemental Indenture]

 

 

4

 

              

	
 
	
HECLA ALASKA LLC 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Lindsay A. Hall
	
 

	
 
	
Name:
	
Lindsay A. Hall
	
 

	
 
	
Title:
	
Vice President of Hecla Limited, It’s Member
	
 

 

 

	
 
	
HECLA GREENS CREEK MINING COMPANY
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Lindsay A. Hall
	
 

	
 
	
Name:
	
Lindsay A. Hall
	
 

	
 
	
Title:
	
Vice President
	
 

 

 

	
 
	
HECLA JUNEAU MINING COMPANY 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Lindsay A. Hall
	
 

	
 
	
Name:
	
Lindsay A. Hall
	
 

	
 
	
Title:
	
Vice President
	
 

  

 

	
 
	
BURKE TRADING INC.
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Dean W.A. McDonald
	
 

	
 
	
Name:
	
Dean W.A. McDonald
	
 

	
 
	
Title:
	
President
	
 

 

 

	
 
	
HECLA MONTANA, INC.
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Luther J. Russell
	
 

	
 
	
Name:
	
Luther J. Russell
	
 

	
 
	
Title:
	
President
	
 

 

 

	
 
	
REVETT SILVER COMPANY
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Luther J. Russell
	
 

	
 
	
Name:
	
Luther J. Russell
	
 

	
 
	
Title:
	
President
	
 

 

 

	
[Signature Page to Supplemental Indenture]

 

 

5

 

   

	
 
	
TROY MINE INC.
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Luther J. Russell
	
 

	
 
	
Name:
	
Luther J. Russell
	
 

	
 
	
Title:
	
President
	
 

 

 

	
 
	
RC RESOURCES, INC.
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Luther J. Russell
	
 

	
 
	
Name:
	
Luther J. Russell
	
 

	
 
	
Title:
	
President
	
 

 

 

	
 
	
REVETT EXPLORATION, INC.
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Luther J. Russell
	
 

	
 
	
Name:
	
Luther J. Russell
	
 

	
 
	
Title:
	
President
	
 

 

 

	
 
	
REVETT HOLDINGS, INC.
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Luther J. Russell
	
 

	
 
	
Name:
	
Luther J. Russell
	
 

	
 
	
Title:
	
President
	
 

 

 

	
[Signature Page to Supplemental Indenture]

 

 

6

 

 

	
 
	
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
	
 

	 	as Trustee	 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Teresa Petta
	
 

	
 
	
Name:
	
Teresa Petta
	
 

	
 
	
Title:
	
Vice President
	
 

 

 

	
[Signature Page to Supplemental Indenture]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00267-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00267-of-00352.parquet"}]]