Document:

EX-4.4

 Exhibit 4.4 

HUBBELL INCORPORATED 

Amended and Restated Deferred Compensation Plan for Directors 

As Amended and Restated Effective as of December 23, 2015 

ARTICLE I 
 DEFINITIONS 

1.1 “Accounts” shall mean collectively the Director’s Cash Account, Stock Unit Account and Restricted Stock Unit Account. 

1.2 “Board” shall mean the Board of Directors of Hubbell Incorporated. 

1.3 “Cash Account” shall mean the account created by Hubbell pursuant to Article III of this Plan in accordance with an election by
a Director to receive deferred cash compensation under Article II hereof. 
 1.4 “Change of Control” shall mean the first to occur
of any one of the following: 
 (a) Continuing Directors during any 12 month period no longer constitute a majority of the Directors; 

(b) Any person or persons acting as a group (within the meaning of Treas. Reg. §1.409A-3(i)(5)(vi)(D)), acquires (or has acquired within
the 12 month period ending on the date of the last acquisition by such person or persons) directly or indirectly, thirty percent (30%) or more of the voting power of the then outstanding securities of Hubbell entitled to vote for the election
of Hubbell’s directors; provided that this Section 1.4(b) shall not apply with respect to any acquisition of securities by (i) the trust under a Trust Indenture dated September 2, 1957 made by Louie E. Roche, (ii) the trust
under a Trust Indenture dated August 23, 1957 made by Harvey Hubbell, and (iii) any employee benefit plan (within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended) maintained by Hubbell or
any affiliate of Hubbell; 
 (c) Any person or persons acting as a group (within the meaning of Treas. Reg. §1.409A-3(i)(5)(v)(B)),
acquires ownership (including any previously owned securities) of more than fifty percent (50%) of either (i) the voting power value of the then outstanding securities of Hubbell entitled to vote for the election of Hubbell’s
directors or (ii) the fair market value of Hubbell; provided that this Section 1.4(c) shall not apply with respect to any acquisition of securities by (i) the trust under a Trust Indenture dated September 2, 1957 made by Louie E.
Roche, (ii) the trust under a Trust Indenture dated August 23, 1957 made by Harvey Hubbell, and (iii) any employee benefit plan (within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as
amended) maintained by Hubbell or any affiliate of Hubbell; or 
 (d) A sale of substantially all of Hubbell’s assets. 

Provided, that the transaction or event described in subsection (a), (b), (c) or (d) constitutes a “change in control
event,” as defined in Treas. Reg. §1.409A-3(i)(5). 

 1.5 “Code” shall mean the Internal Revenue Code of 1986, as amended and any successor
statute thereto. 
 1.6 “Compensation Committee” shall mean the Compensation Committee of the Board. 

1.7 “Continuing Director” shall mean any individual who is a member of Hubbell’s Board of Directors on December 9, 1986 or
was designated (before such person’s initial election as a Director) as a Continuing Director by 2/3 of the then Continuing Directors. 

1.8 “Director” shall mean a member of the Board of Directors of Hubbell who is not an employee of Hubbell or any of its
subsidiaries. 
 1.9 “Directors’ Retirement Plan” shall mean the Hubbell Incorporated Retirement Plan for Directors. 

1.10 “Equity Plan” shall mean any stock option or other equity incentive compensation plan which is maintained by Hubbell and which
provides for grants of Restricted Stock. 
 1.11 “Fees” shall mean cash amounts earned for serving as a member of the Board,
including any Committees of the Board. 
 1.12 “He”, “Him” or “His” shall apply equally to male and female
members of the Board. 
 1.13 “Hubbell” shall mean Hubbell Incorporated and any corporate successors. 

1.14 “Plan” shall mean this Deferred Compensation Plan for Directors as it may be amended from time to time. 

1.15 “Restricted Stock” shall mean shares of restricted Common Stock which are awarded to a Director under an Equity Plan for
serving as a member of the Board, including any Committees of the Board; 
 1.16 “Restricted Stock Unit” shall mean one share of
Hubbell Common Stock. 
 1.17 “Restricted Stock Unit Account” shall mean the account created by Hubbell pursuant Article III of
this Plan in accordance with an election by a Director to defer Restricted Stock under Article II hereof. 
 1.18 “Retirement Benefit
Account” shall mean the amount, if any, transferred from the Directors’ Retirement Plan to this Plan in accordance with Section 2.4. 

1.19 “Year” shall mean calendar year. 

1.20 “Separation from Service” shall mean termination of service as a Director; provided that the individual is not or does not as a
result thereof become an employee or maintain an independent contractor relationship with Hubbell. All determinations of whether an individual has had a Separation from Service shall be made applying the definition contained in Treas. Reg.
§1.409A-1(h). 

  
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 1.21 “Stock Unit” shall mean one share of Hubbell Common Stock. 

1.22 “Stock Unit Account” shall mean the account created by Hubbell pursuant Article III of this Plan in accordance with an election
by a Director to receive deferred stock compensation under Article II hereof. 
 1.23 “Units” shall mean Stock Units and
Restricted Stock Units credited to a Participant’s Stock Unit Account and Restricted Stock Unit Account. 
 ARTICLE II 

ELECTION TO DEFER 
 2.1 A Director
may elect, on or before December 31 of any Year, to defer payment of all or a specified part of all Fees earned and Restricted Stock otherwise to be granted during the Year following such election and succeeding Years (until the Director ceases
to be a Director). Any person who shall become a Director during any Year, and who was not a Director of Hubbell on the preceding December 31, may elect, before the Director’s term begins, to defer payment of all or a specified part of
such Fees earned and Restricted Stock otherwise to be granted during the remainder of such Year and for succeeding Years. Any Fees deferred pursuant to this Section shall be paid to the Director at the time(s) and in the manner specified in Article
IV hereof, in the form of cash or Hubbell Common Stock, or any combination thereof, as designated by the Director. Any Restricted Stock deferred pursuant to this Section shall be paid to the Director at the time(s) and in the manner specified in
Article IV hereof, in the form of Common Stock. 
 2.2 The election to participate and manner of payment shall be designated by submitting a
letter in the form attached hereto as Appendix A to the Secretary of Hubbell. 
 2.3 The election shall continue from Year to Year unless
the Director terminates it by written request delivered to the Secretary of Hubbell prior to the commencement of the Year for which the termination is first effective. 

2.4 A Director who is a participant in the Directors’ Retirement Plan shall have the actuarial lump sum equivalent of his retirement
benefit accrued under the Directors’ Retirement Plan as of December 31, 2007 contributed to this Plan, with such amount allocated to his Retirement Benefit Account. In accordance therewith, such Director shall elect prior to
December 31, 2007, (i) the time and form of payment of such Retirement Benefit Account in accordance with Sections 4.1 or 4.5 and (ii) the investment of the Retirement Benefit Account in either the Cash Account or a Stock Unit Account
as elected under Sections 3.2 or 3.4; provided, however, that if the investment of the Retirement Benefit Account in the Stock Unit Account would violate any federal or state securities laws, as determined by Hubbell’s outside legal counsel,
then the Retirement Benefit Account shall be invested in the Cash Account. Notwithstanding anything in Sections 3.4 or 4.1 to the contrary, if it is subsequently determined by Hubbell’s outside legal counsel that the Retirement Benefit Account
may be invested in the Stock Unit Account without violating the federal or state securities laws, then each Director shall 

  
 3 

 
have a one-time election to have the balance of his Retirement Benefit Account that is held in the Cash Account transferred to the Stock Unit Account. The number of Stock Units to be credited to
the Director’s Stock Unit Account shall be determined under the methodology set forth in Section 3.4, but with the date of transfer being the date the Fees would have been paid, and the value of the Retirement Benefit Account on the date
of the transfer being the value of the Fees paid. 
 2.5 Prior to December 31, 2008 each Director who is a participant in the Plan on
December 31, 2008 shall make an election to have his or her Accounts payable under Article IV upon Separation from Service commencing on either the six month anniversary of the Director’s Separation from Service or the fifth business day
of the Year following the Director’s Separation from Service. For each Director who first becomes a participant in the Plan after January 1, 2009 such election shall be made at the time of the Director’s initial deferral election
under Section 2.1. If no such election is filed, then the Director’s Accounts shall be payable commencing on the fifth business day of the Year following the Director’s Separation from Service. 

ARTICLE III 
 DEFERRED COMPENSATION
ACCOUNTS 
 3.1 Hubbell shall maintain separate memorandum accounts for the Fees and Restricted Stock deferred by each Director. 

3.2 Hubbell shall credit, on the date Fees become payable, to the Cash Account of each Director the deferred portion of any Fees due the
Director as to which an election to receive cash has been made. Fees deferred in the form of cash (and interest thereon) shall be held in the general funds of Hubbell. On the first business day of 2008, Hubbell shall credit to the Cash Account of a
Director the amount of his Retirement Benefit Account to which such Director elected to have invested in the Cash Account. 
 3.3 Hubbell
shall credit the Cash Account of each Director on a quarterly basis with interest at the prime rate in effect at Hubbell’s principal commercial bank on the date of the next immediately following regular quarterly Directors’ meeting. A
Director’s Cash Account shall continue to accrue interest in the foregoing manner during the period beginning on the Director’s Separation from Service and ending two days prior to the date on which the balance of the Director’s Cash
Account will be paid (whether the Director has elected to receive the distribution of his or her Cash Account in a lump sum or in installment payments), in accordance with the terms of Article IV hereof, in satisfaction of all payments owed to the
Director under the Plan. 
 3.4 Hubbell shall credit, on the date Fees become payable, the Stock Unit Account of each Director with the
number of Stock Units which is equal to: the deferred portion of any Fees due the Director as to which an election to receive Hubbell Common Stock has been made, divided by the closing price of Hubbell Common Stock as reported on the New York Stock
Exchange (the “NYSE”) on the date such Fees would otherwise have been paid (the “Stock Unit Value”). If a closing price is not available from the NYSE for the Common Stock on the date such Fees would otherwise have been paid,
then the next preceding practicable date for which such closing price is available shall be used. 

  
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 3.5 Hubbell shall credit the Stock Unit Account of each Director who has elected to receive
deferred compensation in the form of Stock Units with the number of Stock Units equal to any cash dividends (or the fair market value of dividends paid in property other than dividends payable in Common Stock of Hubbell) payable on the number of
shares of Common Stock represented by the number of Stock Units in each Director’s Stock Unit Account on the dividend payment date. Dividends payable in Common Stock will be credited to each Director’s Stock Unit Account in the form of
Stock Units. A Director’s Stock Unit Account shall continue to be credited with dividends in the foregoing manner during the period beginning on the date of the Director’s Separation from Service and ending two days prior to the date on
which the balance of the Director’s Stock Unit Account will be paid (whether the Director has elected to receive the distribution of his or her Stock Unit Account in a lump sum or in installment payments), in accordance with the terms of
Article IV hereof, in satisfaction of all payments owed to the Director under the Plan. If adjustments are made to the outstanding shares of Hubbell Common Stock as a result of split-ups, recapitalizations, mergers, consolidations and the like, an
appropriate adjustment also will be made in the number of Stock Units credited to the Director’s Stock Unit Account. 
 3.6 Hubbell
shall credit, on the date Restricted Stock is granted, the Restricted Stock Unit Account of each Director with the number of Restricted Stock Units which is equal to the deferred portion of any Restricted Stock as to which an election to defer has
been made. The Restricted Stock Units credited to the Restricted Stock Unit Account shall remain subject to the same vesting terms as they would otherwise have had pursuant to the terms of the applicable Equity Plan and award agreement, but for the
election to defer such Restricted Stock (and, for the avoidance of doubt, shall be subject to forfeiture on the date that the shares of Restricted Stock that otherwise would have been granted would have been forfeited pursuant to their terms).
Hubbell shall credit the Restricted Stock Unit Account of each Director who has elected to defer Restricted Stock with the number of Restricted Stock Units equal to any cash dividends (or the fair market value of dividends paid in property other
than dividends payable in Common Stock of Hubbell) payable on the number of shares of Common Stock represented by the number of Restricted Stock Units in each Director’s Restricted Stock Unit Account divided by the closing price of
Hubbell’s Common Stock as reported on the NYSE on the dividend payment date. Dividends payable on Common Stock in shares of Common Stock will be credited to each Director’s Restricted Stock Unit Account in the form of Restricted Stock
Units. A Director’s Restricted Stock Unit Account shall continue to be credited with dividends in the foregoing manner during the period beginning on the date of the Director’s Separation from Service and ending two days prior to the date
on which the balance of the Director’s Restricted Stock Unit Account will be paid (whether the Director has elected to receive the distribution of his or her Restricted Stock Unit Account in a lump sum or in installment payments), in accordance
with the terms of Article IV hereof, in satisfaction of all payments owed to the Director under the Plan. If adjustments are made to the outstanding shares of Hubbell Common Stock as a result of split-ups, recapitalizations, mergers, consolidations
and the like, an appropriate adjustment also will be made in the number of Restricted Stock Units credited to the Director’s Restricted Stock Unit Account. 

3.7 Units shall be computed to three decimal places. 

  
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 3.8 Units shall not entitle any person to rights of a stock holder with respect to such Units
unless and until shares of Hubbell Common Stock have been issued to such person in respect of such Units pursuant to Article IV hereof. Notwithstanding the foregoing, no more than 450,000 shares of Common Stock may be issued as payment under the
Plan. 
 3.9 Hubbell shall not be required to acquire, reserve, segregate, or otherwise set aside shares of its Common Stock for the payment
of its obligations under the Plan, but shall make available as and when required a sufficient number of its Common Stock to meet the needs of the Plan. 

3.10 Nothing contained herein shall be deemed to create a trust of any kind or any fiduciary relationship. To the extent that any person
acquires a right to receive payments from Hubbell under the Plan, such right shall be no greater than the right of any unsecured general creditor of Hubbell. 

ARTICLE IV 
 PAYMENT OF DEFERRED
COMPENSATION 
 4.1 Unless otherwise provided for in this Plan, amounts contained in a Director’s Accounts will be distributed in a
lump sum or in installment payments as the Director’s election (made pursuant to Sections 2.2 or 2.4) shall provide. Unless otherwise provided in Section 4.5, distributions shall begin pursuant to the Director’s election on either the
six month anniversary of the Director’s Separation from Service or the fifth business day of the Year following the Director’s Separation from Service; and if installment distributions are elected each subsequent installment shall be made
as of the fifth business day of the Year next following the Year in which payments commenced. Amounts credited to a Director’s Stock Unit Account shall be paid in the form of one share of Hubbell Common Stock for each Stock Unit. A cash payment
will be made with any final installment for any fractions of a Unit remaining in the Director’s Stock Unit Account or Restricted Stock Unit Account. Such fractional Units will be valued based on the closing prices of Hubbell’s Common Stock
as reported on the NYSE on the date of settlement. Notwithstanding the foregoing to the contrary, in the event that payment of a Directors Stock Unit Account or Restricted Stock Unit Account in the form of Common Stock would cause the limit on the
maximum number of shares which may be issued under the Plan under Section 3.8 to be exceeded, the Director’s Stock Unit Account shall be distributed first up to the maximum number of shares of Common Stock which would not exceed the limit
and then the balance thereof shall be distributed in cash. 
 4.2 Each Director shall have the right to designate a beneficiary who is to
succeed to his right to receive payments hereunder in the event of death. Any designated beneficiary will receive payments in the same manner as the Director if he had lived. In case of a failure of designation or the death of a designated
beneficiary without a designated successor, the balance of the amounts contained in the Director’s Accounts shall be payable in accordance with Section 4.1 to the Director’s or former Director’s estate in full on the first day of
the Year following the Year in which the Director or his designated beneficiary dies. No designation of beneficiary or change in beneficiary shall be valid unless in writing signed by the Director and filed with the Secretary of Hubbell. Any
beneficiary may be changed without the consent of any prior beneficiary. 

  
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 4.3 Notwithstanding Section 4.1, all or a portion of a Director’s Accounts may be paid
prior to Separation of Service with the approval of the Board upon the following events: 
 (a) To comply with a domestic relations order (as
defined in Code Section 414(p)(1)(B)); 
 (b) If the Internal Revenue Service, makes a determination that a Director is required to
include in gross income the value of his Accounts, as soon as practicable following such determination Hubbell shall pay to the Director in a lump sum, the amount required to be included in the Director’s gross income. 

(c) If the distributable balance of the Director’s Accounts is less than the amount applicable under Code Section 402(g) for the year
in question, then notwithstanding any prior installment election, the balance of such Accounts shall be distributed in a lump sum. 
 (d)
Upon the termination and liquidation of the Plan, the balance of the Directors Accounts shall be distributed in a lump sum twelve months following such termination and liquidation; provided that such termination or liquidation is not in connection
with a downturn in the financial health of Hubbell and shall conform to the requirements of Treas. Reg. Section 1.409A-3(j)(4)(ix). 

4.4 Notwithstanding Sections 4.1, 4.5 or 7.3 to the contrary, if a Director is deemed at the time of his Separation from Service to be a
“specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of payment of the Director’s Accounts is required in order to avoid a prohibited distribution under
Section 409A(a)(2)(B)(i) of the Code, such portion of Director’s Accounts shall not be payable to the Director prior to the earlier of (a) the expiration of the six-month period measured from the date of the Director’s Separation
from Service or (b) death. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to this Section 4.4 shall be paid in a lump sum to the Director, plus interest thereon from
the date of the Executive’s Separation from Service through the payment date at a rate equal to the prime rate of interest as reported in the Wall Street Journal from time to time. Any remaining payments shall be paid as otherwise provided
under Section 4.1, 4.5 or 7.3. 
 4.5 A Director may elect on or prior to December 31, 2008 to commence receiving his Retirement
Benefit Account in a lump sum or in installments on either the six month anniversary or the fifth business day of the Year following the date on which the Director attains age 70, regardless of whether or not such Director has incurred a Separation
from Service, provided, however, that if a Director has attained age 70 on or before December 31, 2008, then such Retirement Benefit Account shall not commence prior to the first business day of 2009; provided, further, that if installment
distributions are elected each subsequent installment shall be made as of the fifth business day of the Year following the Year in which payments commenced. That portion of the Director’s Retirement Benefit Account that is invested in Stock
Units shall be valued as provided in Section 4.1. 

  
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 ARTICLE V 

ADMINISTRATION 
 5.1 The general
administration of this Plan and the responsibility for carrying out the provisions hereof shall be vested in the Compensation Committee. The Compensation Committee may adopt, subject to the approval of the Board, such rules and regulations as it may
deem necessary for the proper administration of this Plan, and its decision in all matters shall be final, conclusive and binding. 
 5.2
The books and records to be maintained for the purpose of the Plan shall be maintained by Hubbell at its expense. All expenses of administering the Plan shall be paid by Hubbell. 

5.3 Except to the extent required by law, the right of any Director or any beneficiary to any benefit or to any payment hereunder shall not be
subject in any manner to attachment or other legal process for the debts of such Director or beneficiary; and any such benefit or payment shall not be subject to alienation, sale, transfer, assignment or encumbrance. 

5.4 No member of the Board and no officer or employee of Hubbell shall be liable to any person for any action taken or omitted in connection
with the administration of the Plan unless attributable to his own fraud or willful misconduct, and Hubbell shall not be liable to any person for any such action unless attributable to fraud or willful misconduct on the part of a Director, officer
or employee of Hubbell. 
 5.5 To the extent applicable, this Plan shall be interpreted in accordance with Code Section 409A and
Department of Treasury regulations and other interpretive guidance issued thereunder. If the Compensation Committee determines that any compensation or benefits payable under this Plan do not comply with Code Section 409A and related Department
of Treasury guidance, the Board may amend this Plan or adopt other policies or procedures (including amendments, policies and procedures with retroactive effect), or take such other actions as the Board deems necessary or appropriate to comply with
the requirements of Code Section 409A and related Department of Treasury guidance; provided that no such amendment shall be effective without the Director’s consent unless it preserves the Director’s economic benefit prior to such
amendment. 
 ARTICLE VI 

AMENDMENT OF PLAN 
 6.1 Subject to
any shareholder approval which may be required by law or the requirements of any stock exchange on which Hubbell’s Common Stock is then listed, the Plan may be amended, suspended or terminated in whole or in part from time to time by the Board,
except no amendment, suspension, or termination shall apply to the payment to any Director or beneficiary of a deceased Director of an amount previously credited to a Director’s Accounts, without the Director’s consent. 

6.2 Notice of every such amendment shall be given in writing to each Director and beneficiary of a deceased director. 

  
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 6.3 Notwithstanding any other provision of the Plan to the contrary: 

(a) no amendment or action by the Board which adversely affects any Director under the Plan will be valid and enforceable without the prior
written consent of such Director; 
 (b) no termination of the Plan shall have the effect of reducing any amounts credited to a
Director’s Accounts. 
 ARTICLE VII 

CHANGE OF CONTROL 
 7.1
Notwithstanding any election under Section 2.2 to the contrary, upon the occurrence of a Change of Control the amounts credited to a Director’s Accounts shall be paid in cash lump sum, with the Director’s Stock Unit Account being
converted into cash on the date of the Change of Control. 
 7.2 A Director’s Stock Unit Account shall be converted into cash by
converting each Stock Unit into the right to receive an amount of cash equal to the highest of the product of (a) the number of Stock Units held in the Stock Unit Account multiplied by (b) (i) the per share amount payable to a
shareholder of Hubbell holding one share of Hubbell Common Stock in the Change of Control or (ii) the closing price of one share of Hubbell Common Stock on the NYSE on that day on which such closing price was the highest, during the 60 days
preceding the date on which the Change of Control occurs. 
 7.3 A Director’s Restricted Stock Unit Account shall be converted into
cash by converting each Restricted Stock Unit into the right to receive an amount of cash equal to the highest of the product of (a) the number of Restricted Stock Units held in the Restricted Stock Unit Account multiplied by
(b) (i) per share amount payable to a shareholder of Hubbell holding one share of Hubbell Common Stock in the Change of Control or (ii) the closing price of one share of Hubbell Common Stock on the NYSE on that day on which such
closing price was the highest, during the 60 days preceding the date on which the Change of Control occurs. 
 7.4 If the Board, in its
discretion, determines that a Change in Control is likely to occur, then Hubbell shall deposit the estimated cash equivalent of the Directors’ Accounts into an irrevocable grantor trust to be held for the benefit of the Directors under this
Plan. In determining the cash value of Director’s Stock Unit Accounts and Restricted Stock Unit Accounts, for this purpose, the value of a Stock Unit shall be estimated in accordance with Section 7.2 and the value of a Restricted Stock
Unit shall be estimated in accordance with Section 7.3, in each case assuming that the Change of Control occurred on such date and using a per share amount which the Board estimates is likely to be paid to shareholders in the Change of Control
for purposes of Section 7.2(b)(i). Any assets of such trust shall be subject to the claims of creditors of Hubbell to the extent set forth in the trust, and Directors’ interests in benefits under this Plan shall only be those of unsecured
creditors of Hubbell. To the extent the actual value of the Stock Unit Account and Restricted Stock Unit Account upon the Change of Control is less than estimated by the Board, then such excess shall be returned to Hubbell, or used to pay expenses
of such trust. Notwithstanding the foregoing, the Company is not required to fund any trust for the benefit of the Eligible Directors if such funding would result in taxation to the Eligible Directors under Section 409A of the Code. 

  
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 7.5 Following a Change of Control all references to “Compensation Committee” in
Section 9.3 are deleted and in lieu thereof is inserted the phrase “trustee under the trust, created pursuant to Section 7.4.” 

7.6 A Director’s Accounts shall be paid within thirty (30) days following the Change of Control. 

ARTICLE VIII 
 EFFECTIVE DATE 

8.1 This Plan was originally adopted by the Board of Directors on December 12, 1978 and amended on December 14,
1982, December 9, 1986, June 14, 1989, June 20, 1991, December 8, 1999, January 1, 2005 and February 7, 2013. The provisions of this Plan as set forth in this document are effective as of
December 23, 2015 and apply to Directors who were or become members of the Board of Directors on and after December 23, 2015, and all fees deferred under this Plan, whether occurring prior to, on or after December 23, 2015. Directors
who had a Separation from Service prior to December 23, 2015 shall have their Accounts paid in accordance with the provisions of the Plan as in effect on the date of their Separation from Service. 

ARTICLE IX 
 MISCELLANEOUS
PROVISIONS 
 9.1 This Plan does not in any way obligate Hubbell to continue to retain a Director on the Board, nor does this Plan limit the
right of Hubbell to terminate a Director’s service on the Board. 
 9.2 No amounts payable hereunder may be assigned, pledged,
mortgaged or hypothecated and to the extent permitted by law, no such amounts shall be subject to legal process or attachment for the payment of any claims against any person entitled to receive the same. 

9.3 If a Director entitled to receive any payments of his Accounts under the terms of this Plan is deemed by the Compensation Committee or is
adjudged by a court of competent jurisdiction to be legally incapable of giving valid receipt and discharge for such retirement benefit, such payments shall be paid to such person or persons as the Compensation Committee shall designate or to the
duly appointed guardian of such Eligible Director. Such payments shall, to the extent made, be deemed a complete discharge for such payments under this Plan. 

9.4 Payments made by Hubbell under this Plan to any Eligible Director shall be subject to withholding as shall, at the time for such payment,
be required under any income tax or other laws, whether of the United States or any other jurisdiction. 

  
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 9.5 The provisions of this Plan will be construed according to the laws of the State of
Connecticut, excluding the provisions of any such laws that would require the application of the laws of another jurisdiction. 
 9.6 The
masculine pronoun wherever used herein shall include the feminine gender and the feminine the masculine and the singular number as used herein shall include the plural and the plural the singular unless the context clearly indicates a different
meaning. 
 9.7 The titles to articles and headings of sections of this Plan are for convenience of reference only and in case of any
conflict, the text of the Plan, rather than such titles and headings, shall control. 
 9.8 Directors and their beneficiaries, heirs,
successors and assigns shall have no legal or equitable rights, interests or claims in any property or assets of Hubbell. For purposes of the payment of benefits under this Plan, any and all of Hubbell’s assets shall be, and remain, the
general, unpledged unrestricted assets of Hubbell. Hubbell’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future. 

  
 11ex10-1.htm

Exhibit 10.1

 

NOTE SETTLEMENT AGREEMENT

 

This NOTE SETTLEMENT AGREEMENT (this “Agreement”) is entered into as of December 18, 2015 (the “Effective Date”) by and between Typenex Co-Investment, LLC, a Utah limited liability company (“Lender”), and Vapor Hub International Inc., a Nevada corporation (“Borrower”). Each of Lender and Borrower is sometimes individually referred to hereinafter as a “Party” and collectively as the “Parties.” Capitalized terms used herein but not otherwise defined shall have the meaning ascribed thereto in the November Note (as defined below). Moreover, to the extent any capitalized term used herein is defined in the November Note or any other Transaction Document (as defined below), such capitalized term shall remain applicable even if the November Note or other Transaction Document (wherein such term is defined) has been released, satisfied, or is otherwise cancelled.

 

A.     Borrower previously sold and issued to Lender that certain Secured Convertible Promissory Note issued on November 4, 2014 in the original principal amount of $1,687,500.00 (the “November Note”) pursuant to that certain Securities Purchase Agreement dated November 4, 2014 by and between Lender and Borrower (the “November Purchase Agreement,” and together with the November Note and all other documents entered into in conjunction therewith, the “November Transaction Documents”).

 

B.     Borrower previously sold and issued to Lender that certain Promissory Note dated June 4, 2015 in the original principal amount of $245,000.00 (the “June Note,” and together with the November Note, the “Notes”) pursuant to that certain Note Purchase Agreement dated June 4, 2015 by and between Lender and Borrower (the “June Purchase Agreement,” and together with the June Note and all other documents entered into in conjunction therewith, the “June Transaction Documents”). The June Transaction Documents and the November Transaction Documents are collectively referred to herein as the “Transaction Documents.” 

 

C.     The Parties now desire to restructure and settle the Notes on the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the promises set forth in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

1.     Incorporation of Recitals. The foregoing recitals are contractual in nature and are incorporated herein as part of this Agreement.

 

 

 

 

  

2.     Note Payments. Notwithstanding the terms of the Notes, Borrower covenants and agrees to make the following payments to Lender (the “Restructure”): (a) a payment in the amount of $50,000.00 on or before December 15, 2015; (b) a payment in the amount of $50,000.00 on or before January 15, 2016; (c) a payment in the amount of $50,000.00 on or before February 15, 2016; and (d) a payment equal to the remaining aggregate Outstanding Balance of the Notes on or before March 15, 2016 (collectively, the “Note Payments”). Unless specified otherwise by Lender in a written notice delivered to Borrower (which notice Lender may provide in its sole and absolute discretion), all Note Payments shall be applied first against the Outstanding Balance of the November Note until the November Note has been paid in full and thereafter against the June Note until the June Note is paid in full. Note Payments may be made in cash or shares of Borrower’s Common Stock (“Payment Shares”); provided that any portion of any Note Payment that is paid via Payment Shares shall be subject to the following conditions: (i) no Note Payment may be made via Payment Shares if there is an Equity Conditions Failure, which failure is not waived in writing by Lender, as of the date Borrower seeks to deliver the applicable Payment Shares to Lender; (ii) the number of Payment Shares deliverable with respect to any portion of any Note Payment made in Common Stock shall be equal to the amount of the Note Payment being paid in Payment Shares divided by the then-current Installment Conversion Price (as calculated pursuant to Section 8.1 of the November Note); (iii) all Payment Shares must be delivered in the manner set forth in Section 9 of the November Note; (iv) the applicable shares of Common Stock must have been received by Lender or its broker, as applicable, and become Free Trading (as defined below) on or before the applicable Payment Date for such portion of the applicable Note Payment to be deemed to have been timely made; and (v) on the date that is twenty (20) Trading Days from each date Borrower delivers Free Trading Payment Shares to Lender, there shall be a true-up where Borrower shall deliver to Lender additional shares of Common Stock on the terms and in the manner set forth in Section 11 of the November Note, provided that for purposes hereof, all references to “Installment Conversion Shares” shall be deemed to refer to Payment Shares. For the avoidance of doubt, the conditions for payments of Note Payments via Payment Shares set forth above in this Section 2 shall apply to Note Payments made with respect to both the November Note and the June Note and to the extent any necessary term related to the payment of a Note Payment via Payment Shares is not addressed in this Agreement, but is addressed in the November Note, the provision of the November Note shall apply (provided that if there is any conflict between a term set forth herein and a term set forth in the November Note, this Agreement shall govern), even if the November Note has been paid in full. For purposes hereof, the term “Free Trading” means that (y) the applicable Payment Shares have been cleared and approved for public resale by the compliance departments of Lender’s brokerage firm and the clearing firm servicing such brokerage, and (z) such Payment Shares are held in the name of the clearing firm servicing Lender’s brokerage firm and have been deposited into such clearing firm’s account for the benefit of Lender.

 

3.     Lender’s Transaction Expenses. In consideration of Lender’s fees and other expenses incurred in preparing this Agreement and other accommodations set forth herein, Borrower agrees to pay to Lender a fee in an amount equal to $5,000.00 (the “Transaction Expense Fee”). The Transaction Expense Fee shall be added to and included as part of the Outstanding Balance of the November Note effective as of the date hereof, provided that it is the intent of the Parties hereto that the Transaction Expense Fee will tack back to the Purchase Price Date for purposes of determining the holding period under Rule 144 and the Parties hereto further agree to not take a position that is contrary to such intent in any setting, document, or circumstance.

 

4.     Restructure Fee. In addition to the Transaction Expense Fee, as a material inducement and partial consideration for Lender’s agreement to enter into this Agreement and to restructure the Notes, each of Borrower and Lender acknowledges and agrees that the Outstanding Balance of each Note shall be increased by 15% (the “Restructure Effect”) as of the date hereof. In furtherance thereof, it is the intent of the Parties hereto that the Restructure Effect will tack back to the Purchase Price Date of each respective Note for purposes of determining the holding period under Rule 144 and the Parties hereto further agree to not take a position that is contrary to such intent in any setting, document, or circumstance. Following the application of the Restructure Effect and including the Transaction Expense Fee, each of Borrower and Lender acknowledges and agrees that the Outstanding Balance of the November Note is $107,527.72 as of the date hereof and that the Outstanding Balance of the June Note is $281,750.00 as of the date hereof. 

 

 

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5.     Payment in Full. Upon satisfaction of all of Borrower’s obligations under this Agreement, including without limitation payment of all Note Payments to Lender, Borrower shall be deemed to have paid the entire Outstanding Balance of the Notes in full and shall have no further obligations under either Note. In addition, upon satisfaction of all of Borrower’s obligations under this Agreement, including without limitation payment of all Note Payments, the Transaction Documents will terminate and shall be deemed to be of no further force or effect, and the Parties shall be released from all obligations, definitions, representations and commitments therein. 

  

6.     Ratification of the Notes. The Notes shall be and remain in full force and effect in accordance with their terms, and are hereby ratified and confirmed in all respects. Borrower acknowledges that it is unconditionally obligated to pay the remaining balance of the Notes and represents that such obligation is not subject to any defenses, rights of offset or counterclaims. No forbearance or waiver other than as expressly set forth herein may be implied by this Agreement. Except as expressly set forth herein, the execution, delivery, and performance of this Agreement shall not operate as a waiver of, or as an amendment to, any right, power or remedy of Lender under the Notes or the Transaction Documents, as in effect prior to the date hereof. 

 

7.     Waiver of Existing Event of Default. Each of Borrower and Lender acknowledge that the June Note was due and payable as of December 4, 2015, but that Borrower failed to pay the Outstanding Balance of the June Note to Lender on or before such date. Further, such failure to pay the Outstanding Balance when due constitutes an Event of Default under the June Note (the “June Note Default”). However, subject to Borrower’s compliance with all of the terms and conditions set forth in this Agreement, including without limitation making all Note Payments as and when due, Lender hereby waives the June Note Default and agrees not to take any action or seek to enforce any rights it may have under the June Note, at law, or in equity with respect to the June Note Default.

 

8.     Failure to Comply. Should Borrower fail to comply with any of the conditions set forth herein, including without limitation failing to make any Note Payment when due hereunder, the Restructure, the waiver of the June Note Default, and all other accommodations given herein shall immediately and automatically be deemed withdrawn and Lender shall be entitled to all remedies available to it at law, in equity or as otherwise set forth in the Notes, the other Transaction Documents, and this Agreement. For the avoidance of doubt, the Transaction Expense Fee and the Restructure Effect shall continue to apply and be included in the Outstanding Balance of the Notes even in the event of any such failure to comply with the terms of this Agreement or if this Agreement is terminated for any reason. In the event Borrower has made any Note Payments hereunder, but fails to make all Note Payments when due hereunder, all Note Payments previously made shall be applied in the manner for application of Note Payments set forth in Section 2 above.

 

 

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9.   Representations, Warranties and Agreements. In order to induce Lender to enter into this Agreement, Borrower, for itself, and for its affiliates, successors and assigns, hereby acknowledges, represents, warrants and agrees as follows:

 

9.1.     Authority. Borrower has full power and authority to enter into this Agreement and to incur and perform all obligations and covenants contained herein, all of which have been duly authorized by all proper and necessary action. No consent, approval, filing or registration with or notice to any governmental authority is required as a condition to the validity of this Agreement or the performance of any of the obligations of Borrower hereunder.

 

9.2.      No Waiver. Except as set forth in Section 7 above, any Event of Default which may have occurred under any Note has not been, is not hereby, and shall not be deemed to be waived by Lender, expressly, impliedly, through course of conduct or otherwise except upon full satisfaction of Borrower’s obligations under this Agreement. The agreement of Lender to refrain and forbear from exercising any rights and remedies by reason of any existing default or any future default shall not constitute a waiver of, consent to, or condoning of, any other existing or future default.

 

9.3.    Accurate Representations. All understandings, representations, warranties and recitals contained or expressed in this Agreement are true, accurate, complete, and correct in all respects; and no such understanding, representation, warranty, or recital fails or omits to state or otherwise disclose any material fact or information necessary to prevent such understanding, representation, warranty, or recital from being misleading. Borrower acknowledges and agrees that Lender has been induced in part to enter into this Agreement based upon Lender’s justifiable reliance on the truth, accuracy, and completeness of all understandings, representations, warranties, and recitals contained in this Agreement. There is no fact known to Borrower or which should be known to Borrower which Borrower has not disclosed to Lender on or prior to the date hereof which would or could materially and adversely affect the understandings of Lender expressed in this Agreement or any representation, warranty, or recital contained in this Agreement.

 

9.4.     No Defenses. Borrower has no defenses, affirmative or otherwise, rights of setoff, rights of recoupment, claims, counterclaims, actions or causes of action of any kind or nature whatsoever against Lender, directly or indirectly, arising out of, based upon, or in any manner connected with, the transactions contemplated hereby, whether known or unknown, which occurred, existed, was taken, permitted, or begun prior to the execution of this Agreement and occurred, existed, was taken, permitted or begun in accordance with, pursuant to, or by virtue of any of the terms or conditions of the Transaction Documents. To the extent any such defenses, affirmative or otherwise, rights of setoff, rights of recoupment, claims, counterclaims, actions or causes of action exist or existed, such defenses, rights, claims, counterclaims, actions and causes of action are hereby waived, discharged and released. Borrower hereby acknowledges and agrees that the execution of this Agreement by Lender shall not constitute an acknowledgment of or admission by Lender of the existence of any claims or of liability for any matter or precedent upon which any claim or liability may be asserted.

 

 

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9.5.    Voluntary Agreement. Borrower hereby acknowledges that it has freely and voluntarily entered into this Agreement after an adequate opportunity and sufficient period of time to review, analyze, and discuss (i) all terms and conditions of this Agreement, (ii) any and all other documents executed and delivered in connection with the transactions contemplated by this Agreement, and (iii) all factual and legal matters relevant to this Agreement and/or any and all such other documents, with counsel freely and independently selected by Borrower (or had the opportunity to be represented by counsel). Borrower further acknowledges and agrees that it has actively and with full understanding participated in the negotiation of this Agreement and all other documents executed and delivered in connection with this Agreement after consultation and review with its counsel (or had the opportunity to be represented by counsel), that all of the terms and conditions of this Agreement and the other documents executed and delivered in connection with this Agreement have been negotiated at arm’s-length, and that this Agreement and all such other documents have been negotiated, prepared, and executed without fraud, duress, undue influence, or coercion of any kind or nature whatsoever having been exerted by or imposed upon any party by any other party. No provision of this Agreement or such other documents shall be construed against or interpreted to the disadvantage of any party by any court or other governmental or judicial authority by reason of such party having or being deemed to have structured, dictated, or drafted such provision.

 

9.6.     No Proceedings. There are no proceedings or investigations pending or threatened before any court or arbitrator or before or by, any governmental, administrative, or judicial authority or agency, or arbitrator, against Borrower.

 

9.7.     No Statutes. There is no statute, regulation, rule, order or judgment and no provision of any mortgage, indenture, contract or other agreement binding on Borrower, which would prohibit or cause a default under or in any way prevent the execution, delivery, performance, compliance or observance of any of the terms and conditions of this Agreement and/or any of the other documents executed and delivered in connection with this Agreement.

 

9.8.     Solvent. Borrower is solvent as of the date of this Agreement, and none of the terms or provisions of this Agreement shall have the effect of rendering Borrower insolvent. The terms and provisions of this Agreement and all other instruments and agreements entered into in connection herewith are being given for full and fair consideration and exchange of value.

 

10.   Miscellaneous.

 

10.1.      Further Assurances. At any time or from time to time after the Effective Date, at the request of a Party, and without further consideration, each of the Parties shall execute and deliver, or shall cause its respective affiliate(s) to execute and deliver, such other agreements, instruments, certifications or other documents as may be necessary or desirable to effectuate the transactions and fulfill its obligations under this Agreement.

 

 

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10.2.     Governing Law; Venue. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Utah without regard to the principles of conflict of laws. Each Party consents to and expressly agrees that the exclusive venue for arbitration of any dispute arising out of or relating to this Agreement or the relationship of the Parties or their affiliates shall be in Salt Lake County or Utah County, Utah. Without modifying the Parties’ obligations to resolve disputes hereunder pursuant to the Arbitration Provisions (as defined in the Purchase Agreement), each Party hereto submits to the exclusive jurisdiction of any state or federal court sitting in Salt Lake County, Utah in any proceeding arising out of or relating to this Agreement and agrees that all Claims (as defined in the Arbitration Provisions) in respect of the proceeding may only be heard and determined in any such court and hereby expressly submits to the exclusive personal jurisdiction and venue of such court for the purposes hereof and expressly waives any claim of improper venue and any claim that such courts are an inconvenient forum. Each Party hereto hereby irrevocably consents to the service of process of any of the aforementioned courts in any such proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, to its address as set forth in the Purchase Agreement, such service to become effective ten (10) days after such mailing. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE ARISING OUT OF THIS AGREEMENT, THE TRANSACTION DOCUMENTS, OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. 

 

10.3.      Arbitration. Each Party agrees that any dispute arising out of or relating to this Agreement shall be subject to the Arbitration Provisions.

 

10.4.     Severability. If any part of this Agreement is construed to be in violation of any law, such part shall be modified to achieve the objective of the Parties to the fullest extent permitted and the balance of this Agreement shall remain in full force and effect.

 

10.5.     Successors. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns. This Agreement or any of the severable rights and obligations inuring to the benefit of or to be performed by Lender hereunder may be assigned by Lender to a third party, including its financing sources, in whole or in part. Borrower may not assign this Agreement or any of its obligations herein without the prior written consent of Lender.

 

10.6.      Entire Agreement. This Agreement, together with all other documents referred to herein, supersedes all other prior oral or written agreements between Borrower, Lender, its affiliates and persons acting on its behalf with respect to the matters discussed herein, and this Agreement and the instruments referenced herein contain the entire understanding of the Parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither Lender nor Borrower makes any representation, warranty, covenant or undertaking with respect to such matters. 

 

10.7.     Amendments; Waiver. This Agreement may be amended, modified, or supplemented only by written agreement of the Parties. No provision of this Agreement may be waived except in writing signed by the Party against whom such waiver is sought to be enforced.

 

 

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10.8.     Attorneys’ Fees. In the event of any arbitration or action at law or in equity to enforce or interpret the terms of this Agreement, the Parties agree that the Party who is awarded the most money (without regard to any fines, penalties, or charges imposed by any governmental or regulatory authority) shall be deemed the prevailing Party for all purposes and shall therefore be entitled to an additional award of the full amount of the attorneys’ fees and expenses paid by such prevailing Party in connection with the arbitration, litigation and/or dispute without reduction or apportionment based upon the individual claims or defenses giving rise to the fees and expenses. Nothing herein shall restrict or impair an arbitrator’s or a court’s power to award fees and expenses for frivolous or bad faith pleading. 

 

10.9.     Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all signing parties had signed the same document. All counterparts shall be construed together and constitute the same instrument. The exchange of copies of this Agreement and of signature pages by facsimile transmission or other electronic transmission (including email) shall constitute effective execution and delivery of this Agreement as to the Parties and may be used in lieu of the original Agreement for all purposes. Signatures of the Parties transmitted by facsimile transmission or other electronic transmission (including email) shall be deemed to be their original signatures for all purposes.

 

10.10.    Acknowledgement. By executing this Agreement, each of the Parties evidences that it carefully read and fully understands all of the provisions of this Agreement. 

 

10.11.      No Reliance. Borrower acknowledges and agrees that neither Lender nor any of its officers, directors, members, managers, representatives or agents has made any representations or warranties to Borrower or any of its agents, representatives, officers, directors, stockholders, or employees except as expressly set forth in this Agreement and, in making its decision to enter into the transactions contemplated by this Agreement, Borrower is not relying on any representation, warranty, covenant or promise of Lender or its officers, directors, members, managers, agents or representatives other than as set forth in this Agreement.

 

10.12.     Continuing Enforceability; Conflict Between Documents. Except as otherwise modified by this Agreement, the Notes and each of the other Transaction Documents shall remain in full force and effect, enforceable in accordance with all of their original terms and provisions. This Agreement shall not be effective or binding unless and until it is fully executed and delivered by Lender and Borrower. If there is any conflict between the terms of this Agreement, on the one hand, and either Note or any other Transaction Document, on the other hand, the terms of this Agreement shall prevail.

 

10.13.     Time is of the Essence. Time is expressly made of the essence with respect to each and every provision of this Agreement.

 

10.14.     Notices. Unless otherwise specifically provided for herein, all notices, demands or requests required or permitted under this Agreement to be given to Borrower or Lender shall be given as set forth in the “Notices” section of the Purchase Agreement.

 

[Remainder of page intentionally left blank]

 

 

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IN WITNESS WHEREOF, the undersigned have executed this Agreement to be effective as of the Effective Date.

 

 

	
 
	
LENDER:
	
 

	 	 	 
	 	TYPENEX CO-INVESTMENT, LLC	 
	 	 	 
	 	By: Red Cliffs Investments, Inc., its Manager 	 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ John M. Fife                            
	
 

	
 
	
 
	
John M. Fife, President
	
 

	
 
	
 
	
 
	
 

	 	 	 	 
	 	BORROWER:	 
	 	 	 
	 	VAPOR HUB INTERNATIONAL INC.	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Lori Winther	 
	 	Name:	Lori Winther 	 
	 	Title:	Chief Financial Officer 	 

 

 

 

 

[Signature Page to Note Settlement Agreement]

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