Document:

Exhibit

EXHIBIT 10.4:

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS DOCUMENT. THE REDACTED MATERIAL IS INDICATED IN THIS DOCUMENT WITH BRACKETED DOUBLE ASTERISKS ([**]) AND HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATEMENT.

The Clorox International Company

THIRD AMENDMENT TO MEMORANDUM OF AGREEMENT NO. 1450
______________________________________________________________________

This THIRD AMENDMENT to MEMORANDUM OF AGREEMENT No. 1450 (the “Third Amendment”) is made this 27th day of May 2016, by and between A & M Products Manufacturing Company, 1221 Broadway, Oakland, CA 94612 (“Buyer”), and Oil-Dri Corporation of America, 410 N. Michigan Ave., Chicago, IL  60611 (“Seller”).  

RECITALS

		
	A.
	Buyer and Seller are parties to Memorandum of Agreement #1450, dated March 12, 2001, as amended by  the First Amendment, dated December 13, 2002, and the Second Amendment, dated October 15, 2007 (the “Original Agreement”); and

		
	B.
	Seller and Buyer wish to amend the Original Agreement as hereinafter set forth.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and accepted, the parties hereby agree to amend the Original Agreement as follows:

		
	1.
	The Original Agreement is amended by the addition of SCHEDULE II PRODUCT SPECIFICATIONS, which is attached hereto as Exhibit A (the “New Product Specifications”). The New Product Specifications shall apply as of the date the Seller has successfully installed the equipment referenced in Section 3 below and is able to meet the New Product Specifications (the “Start Date”).

		
	2.
	As of the Start Date, the Base Price of MOA 1450 will be increased $[**] per ton (which is estimated to be $[**] per case) to accommodate the New Product Specifications.

		
	3.
	The Seller agrees to purchase the equipment, at its own expense, as outlined in Exhibit B.

		
	4.
	The terms of the Original Agreement shall remain in full force and effect except as amended, modified and superseded hereby.  Capitalized terms not otherwise defined herein shall have the same meanings as set forth in the Original Agreement.

		
	5.
	The parties represent and warrant to each other that any person or entity purporting to have the authority to enter into this Third Amendment on behalf of or for the benefit of a party has such authority. 

		
	6.
	This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Any signature page delivered by facsimile, pdf or DocuSign system shall be binding to the same extent as an original signature page.   

[The remainder of this page is intentionally left blank.  Signature page follows.]

IN WITNESS WHEREOF, the undersigned have caused this Third Amendment to be signed, all as of the date first written above.

	
		
	BUYER:  
A & M Products Manufacturing Company, 
a Delaware corporation

By: Javier Ortega

Title: Director, Global Strategic Sourcing

Signature:/s/ Javier Ortega

Date:6/2/16___________________________
	SELLER: 
OIL-DRI CORPORATION OF AMERICA,
A Delaware corporation

By (print name):  Jeffrey M. Libert

Title: Vice President, Planning and Analysis and Treasurer

Signature:/s/ Jeff Libert____

Date: 6/2/16__________________________

EXHIBIT A - SCHEDULE II 

PRODUCT SPECIFICATIONS
Revised:  2/25/16    

DIR 121110:  Paw Points Program Requirements

The Paw Points promotional program applies to all Fresh Step skus supplied by the Seller, unless otherwise stated by Clorox.

The Paw Points code shall comply with the following specifications, reference component specifications as needed for additional details:
    
[**]

Responsibilities for Code Application & Inspection by Filling Plant Location:

		
	•
	Components without properly printed codes must not be shipped without Clorox’s authorization.

Visually check codes for legibility, location, orientation, size, and completeness once per hour in conjunction with standard quality checks
Contingency plan to use reverse printed stickers is approved given that Filling Plant Location can insure stickers will not detach or become illegible in transit.
		
	•
	Items with missing or illegible codes shall be governed by the “Quality” section of the MOA/Quality Defect Process.

Scrap materials with printed codes do not require any special handling and may be disposed of via Filling Location’s standard practice. Filling Plant Location shall not be held liable for unauthorized redemption of discarded codes.
Filling Plant Location shall connect directly with their [**] contact to order new codes; allow 5-19 days advanced notice if possible.  Reference the Code Request Form xls attached to DIR 121110.

Referenced Code Appearance Photos:

Multiwall Bags

EXHIBIT B - SCHEDULE IV
EQUIPMENT PURCHASE AGREEMENT

The Seller agrees to purchase the equipment below in order to meet the product specifications as defined in Exhibit A.

BETWEEN A & M Products Manufacturing Company, 1221 Broadway, Oakland, CA 94612 (“Buyer”), and Oil-Dri Corporation of America, 410 N. Michigan Ave., Chicago, IL  60611 (“Seller”).    

		
	A.
	Equipment. 

 
		
	(1)
	Seller will install and procure the Equipment outlined in the table below to meet Buyer’s Product Specifications.  

***THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK***

	
				
	Equipment Description
	Quantity/Unit
	Product #
	Unit Cost

	[**]
	1
	[**]
	$[**]

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	1
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	$[**]

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	1
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	$[**]

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	1
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	$[**]

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	1
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	$[**]

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	1
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	$[**]

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	2
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	$[**]

	[**]
	4
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	$[**]

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	1
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	$[**]

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	1
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	$[**]

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	1
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	$[**]

	[**]
	1
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	$[**]

	[**]
	1
	[**]
	$[**]

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	1
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	$[**]

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	1
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	$[**]

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	1
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	$[**]

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	1
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	$[**]

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	2
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	$[**]

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	4
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	$[**]

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	1
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	$[**]

	[**]
	4
	[**]
	$[**]

	[**]
	 
	 
	$[**]

	[**]
	 
	 
	$[**]

		
	B.
	 

IN WITNESS WHEREOF, the undersigned have caused this Third Amendment to be signed, all as of the date first written above.

	
		
	BUYER:  
A & M Products Manufacturing Company, 
a Delaware corporation

By: Javier Ortega

Title: Director, Global Strategic Sourcing

Signature: /s/ Javier Ortega__

Date:6/2/16____________________________
	SELLER: 
OIL-DRI CORPORATION OF AMERICA,
A Delaware corporation

By (print name): Jeffrey M. Libert

Title: Vice President, Planning and Analysis and Treasurer

Signature: /s/Jeff Libert____

Date: 6/2/16__________________________ceb-ex101_69.htm

Exhibit 10.1

		
	

	
1919 North Lynn Street

Arlington, VA 22209

United States

Tel: +1-571-303-3000

Fax: +1-571-303-3100

 

September 30, 2016

Ms. Melody L. Jones
Chief Administrative Officer
CEB Inc.

Dear Melody:

In recognition of more than a decade of loyal service and contributions to CEB Inc. (“CEB” or the “Company”), for the assistance you provided with transition planning for the Company’s current CEO, and for your forthcoming role in assisting our new Chief Executive Officer transition into his or her role as well as ensuring continuity of support for key governance matters with our Board of Directors, CEB will provide you the following payments and benefits.  For purposes hereof, the “Transition Period” commences on the date of this letter and continues until December 31, 2017 or, if later, the end of the second calendar quarter following when the new CEO commences employment (the “Transition Period”).

1.Compensation.  You will be eligible to receive an increase in your base salary effective April 1, 2017, and you will be eligible to receive a cash bonus for the 2016 performance year no later than March 15, 2017, subject to your performance against the applicable objectives as determined pursuant to standard CEB practice.  You will also be eligible to receive a restricted stock unit (RSU) grant in March 2017 in accordance with standard procedures.

2.Performance Bonuses.  Your annual bonus for the 2017 performance year shall be no less than 100% of your target bonus. Your target bonus, for the avoidance of doubt, is 100% of your base salary.   If the Transition Period continues into the 2018 performance year, your annual bonus for that performance year shall be no less than 100% of your target bonus on a prorated basis for any calendar quarters in 2018 that are included in the Transition Period.  These payments are subject to your continued employment through December 31, 2017 (for the 2017 bonus) or the end of the applicable calendar quarter (for the 2018 bonus); provided that if the Company terminates your employment without Cause, you resign for Good Reason, or you die while an employee, you (or as applicable, your estate) shall receive such guaranteed minimum bonus payments subject to your execution of the Company’s standard form separation agreement and release (which will incorporate your Employer Protection Agreement and apply its restrictions as if you had voluntarily resigned).  For purposes hereof:

	
 
	
(i) 
	
“Cause” means your commission of a material act of fraud, theft or dishonesty against CEB; conviction of any felony; or willful non-performance of material duties that is not cured within sixty (60) days after receipt of written notice to you from the Board of Directors.  

	
 
	
(ii) 
	
“Good Reason” means, without your written consent: (A) a material reduction in your duties, responsibilities or authority, (B) a reduction in your base salary or target annual incentive bonus opportunity, (C) you are required to relocate your place of employment to a location that is more than thirty-five (35) miles from the location of the Company's current headquarters, (D) your removal without Cause as Chief Administrative Officer of CEB, or (E) a material breach of this letter agreement by the Company; provided that no such event shall be deemed to be a basis for your resignation for Good Reason unless, within sixty (60) days of the occurrence of such event, you deliver written notice to CEB stating that you believe that a basis for termination for Good Reason exists and specifying the event that you consider to constitute the basis for termination for Good Reason, and CEB shall not have remedied or cured such event within sixty (60) days of receipt of such notice. 

 

 

3.Equity Awards.  Upon your departure from the Company upon or following the end of the Transition Period (or, if earlier, your termination without Cause or your resignation for Good Reason), pursuant to the discretion provided to the Compensation Committee of the Board of Directors under CEB’s 2012 Stock Incentive Plan, all of your unvested equity awards shall vest pursuant to the “Retirement” provisions of such Plan.  In the event of your termination without Cause or resignation for Good Reason prior to the end of the Transition Period, such treatment is subject to your execution of the Company’s standard form separation agreement and release (which will incorporate your Employer Protection Agreement and apply its restrictions as if you had voluntarily resigned). 

4.Medical Benefits.  You will be eligible for coverage under the CEB Retiree Medical Policy as in effect on September 30, 2016.  For the avoidance of doubt, this coverage under the terms of such Policy as currently in effect shall apply even if the Policy is modified or terminated following the date hereof. 

Nothing herein provides you any right to continued employment with the Company, nor does anything herein preclude your continued employment beyond the Transition Period.  Rather, you will remain an “at-will” employee and your employment may be terminated by you or by the Company at any time with or without Cause.  For the avoidance of doubt, this letter agreement does not impact any rights you may have under any CEB change in control or severance plan or program applicable to you.

Thank you again for your loyal service to the Company and the critical role you will continue to play in our success.  If the terms and conditions of this letter are acceptable to you, please sign below and return a copy of the letter to me.

Sincerely, 

/s/ Thomas L. Monahan 

Thomas L. Monahan III
Chief Executive Officer

ACCEPTED AND AGREED:

/s/ Melody L. Jones

_____________________

Melody L. Jones

October 6, 2016

_____________________

Date

 

2

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