Document:

EX10.9 Form of Stock Option Award

Exhibit 10.9
FORM OF NON-STATUTORY STOCK OPTION

Non-transferable

GRANT  TO

_____________
 (the “Optionee”)

the right to purchase from Global Payments Inc. (the “Company”)

_____ shares of its common stock, no par value, at the price of $_______ per share

pursuant to and subject to the provisions of the Global Payments Inc. 2011 Incentive Plan (the “Plan”) and to the terms and conditions set forth on the following page (the “Terms and Conditions”).  

Unless sooner vested in accordance with Section 2 of the Terms and Conditions or otherwise in the discretion of the Committee, the Options shall vest (become exercisable) in accordance with the following schedule:  

	
			
	Continuous Status as a Participant
after Grant Date
	 
	Percent of Option Shares Vested

	 
	 
	 

	Less than 1 Year
	 
	0%

	1 Year
	 
	33.33%

	2 Years
	 
	66.66%

	3 Years
	 
	100%

IN WITNESS WHEREOF, Global Payments Inc., acting by and through its duly authorized officers, has caused this Certificate to be executed as of the Grant Date.

GLOBAL PAYMENTS INC.

By: ____________________________________________
Its:  Authorized Officer

Grant Number:  ____________

Grant Date:  _______________

Accepted by Optionee:  _____________________________

TERMS AND CONDITIONS

1. Grant of Option.  Global Payments Inc. (the “Company”) hereby grants to the Optionee named on Page 1 hereof (“Optionee”), under the Global Payments Inc. 2011 Incentive Plan (the “Plan”), stock options to purchase from the Company (the “Options”), on the terms and on conditions set forth in this certificate (this “Certificate”), the number of shares indicated on Page 1 of the Company’s no par value common stock, at the exercise price per share set forth on Page 1.  Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Plan.

2.    Vesting of Options.  The Option shall vest (become exercisable) in accordance with the schedule shown on Page 1 of this Certificate. Notwithstanding the foregoing vesting schedule, upon Optionee’s death or Disability during his or her Continuous Status as a Participant, or subject to the consent of the Committee, upon Optionee’s Retirement, all Options shall become fully vested and exercisable.  

3.    Term of Options and Limitations on Right to Exercise.  The term of the Options will be for a period of ten years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the “Expiration Date”).  To the extent not previously exercised, the Options will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:

(a)    Three months after the termination of Optionee’s Continuous Status as a Participant for any reason other than by reason of Optionee’s death, Disability or Retirement.

(b) Twelve months after termination of Optionee’s Continuous Status as Participant by reason of Disability.

(c)    Five years after termination of Optionee’s Continuous Status as a Participant by reason of Retirement.

(d)    Twelve months after the date of Optionee’s death, if Optionee dies while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Options otherwise lapse.  If the Optionee dies during the five-year period described in subsection (c) above, the Option shall lapse as provided in subsection (c).  Upon Optionee’s death, the Options may be exercised by Optionee’s beneficiary designated pursuant to the Plan.  

The Committee may, prior to the lapse of the Options under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise the Options as determined by the Committee in writing.  If Optionee returns to employment with the Company during the designated post-termination exercise period, then Optionee shall be restored to the status Optionee held prior to such termination but no vesting credit will be earned for any period Optionee was not in Continuous Status as a Participant.  If Optionee or his or her beneficiary exercises an Option after termination of service, the Options may be exercised only with respect to the Shares that were otherwise vested on Optionee’s termination of service.

4.    Exercise of Option.  The Options shall be exercised by (a) written notice directed to the Secretary of the Company or his or her designee at the address and in the form specified by the Secretary from time to time and (b) payment to the Company in full for the Shares subject to such exercise (unless the exercise is a broker-assisted cashless exercise, as described below).  If the person exercising an Option is not Optionee, such person shall also deliver with the notice of exercise appropriate proof of his or her right to exercise the Option.  Payment for such Shares shall be in (a) cash, (b) Shares previously acquired by the purchaser, which have been held by the purchaser for such period of time, if any, as necessary to avoid variable accounting for the Option, or (c) any combination thereof, for the number of Shares specified in such written notice.  The value of surrendered Shares for this purpose shall be the Fair Market Value as of the last trading day immediately prior to the exercise date.  To the extent permitted under Regulation T of the Federal Reserve Board, and subject to applicable securities laws and any limitations as may be applied from time to time by the Committee (which need not be uniform), the Options may be exercised through a broker in a so-called “cashless exercise” whereby the broker sells the Option Shares on behalf of Optionee and delivers cash sales proceeds to the Company in payment of the exercise price.  In such case, the date of exercise shall be deemed to be the date on which notice of exercise is received by the Company and the exercise price shall be delivered to the Company by the settlement date.

5.    Beneficiary Designation.  Optionee may, in the manner determined by the Committee, designate a beneficiary to exercise the rights of Optionee hereunder and to receive any distribution with respect to the Options upon Optionee’s death.  A beneficiary, legal guardian, legal representative, or other person claiming any rights hereunder is subject to all terms and conditions of this Certificate and the Plan, and to any additional restrictions deemed necessary or appropriate by the Committee.  If no beneficiary has been designated or survives Optionee, the Options may be exercised by the legal representative of Optionee’s estate, and payment shall be made to Optionee’s estate.  Subject to the foregoing, a beneficiary designation may be changed or revoked by Optionee at any time provided the change or revocation is filed with the Company.

6.    Withholding.  The Company or any employer Affiliate has the authority and the right to deduct or withhold, or require Optionee to remit to the employer, an amount sufficient to satisfy federal, state, and local taxes (including Optionee’s FICA obligation) required by law to be withheld with respect to any taxable event arising as a result of the exercise of the Options.  The withholding requirement may be satisfied, in whole or in part, at the election of the Secretary, by withholding from the Options Shares having a Fair Market Value on the date of withholding equal to the minimum amount (and not any greater amount) required to be withheld for tax purposes, all in accordance with such procedures as the Secretary establishes. If Shares are surrendered to satisfy withholding obligations in excess of the minimum withholding obligation, such Shares must have been held by the purchaser as fully vested shares for such period of time, if any, as necessary to avoid variable accounting for the Options.  The obligations of the Company under this Certificate will be conditional on such payment or arrangements, and the Company and, where applicable, its Affiliates will, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to Optionee.  

7.    Limitation of Rights.  The Options do not confer to Optionee or Optionee’s beneficiary designated pursuant to Paragraph 5 any rights of a shareholder of the Company unless and until Shares are in fact issued to such person in connection with the exercise of the Options.  

8.    No Right of Continued Employment; No Rights to Compensation or Damages.  Nothing in the Plan or this Certificate or any document executed under either of them shall interfere with or limit in any way the right of the Company or any Affiliate to terminate Optionee's employment without liability at any time, nor confer upon Optionee any right to continue in the employ of the Company or any Affiliate.  By executing this Certificate, Optionee waives any and all rights to compensation or damages for the termination of his office or employment, or failure to provide sufficient notice of termination of his office or employment, with the Company or any Affiliate for any reason whatsoever insofar as those rights arise or may arise from the loss of Optionee’s benefits or rights upon conversion of the Options in connection with such termination.

9.    Stock Reserve.  The Company shall at all times during the term of this Certificate reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of this Certificate.

10.    Restrictions on Transfer and Pledge.  No right or interest of Optionee in the Options may be pledged, encumbered, or hypothecated to or in favor of any party other than the Company or an Affiliate, or shall be subject to any lien, obligation, or liability of Optionee to any other party other than the Company or an Affiliate.  The Options are not assignable or transferable by Optionee other than by will or the laws of descent and distribution or pursuant to a domestic relations order that would satisfy Section 414(p)(1)(A) of the Code if such Section applied to an Option under the Plan; provided, however, that the Committee may (but need not) permit other transfers.  The Options may be exercised during the lifetime of Optionee only by Optionee or any permitted transferee.  

11.    Restrictions on Issuance of Shares.  If at any time the Committee shall determine in its discretion, that registration, listing or qualification of the Shares covered by the Options upon any Exchange or under any foreign, federal, or local law or practice, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition to the exercise of the Options, the Options may not be exercised in whole or in part unless and until such registration, listing, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee.
    
12.    No Entitlement to Future Awards.  The grant of the Options does not entitle Optionee to the grant of any additional options or other awards under the Plan in the future.  Future grants, if any, will be at the sole discretion of the Company, including, but not limited to, the timing of any grant, the number of options, and vesting provisions.  The grant of the options is an extraordinary item of compensation outside the scope of any employment contract.  As such, the Options are not part of normal or expected compensation for purposes of calculating severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.

13.    Transfer of Data.  By executing this certificate, Optionee voluntarily acknowledges and consents to the collection, use, processing and transfer of personal data as described in this paragraph.  Optionee is not obliged to consent to such collection, use, processing and transfer of personal data, but failure to provide the consent may affect Optionee’s eligibility to receive awards under the Plan.  The Company and its Affiliates hold certain personal information about Optionee, including name, home address and telephone number, date of birth, employee identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, and details of any rights or entitlements to shares of stock, for the purpose of managing and administering the Plan (“Data”).  The Company and its Affiliates will transfer Data amongst themselves as necessary for the purpose of implementation, administration and management of Optionee’s participation in the Plan, and the Company and any of its Affiliates may each further transfer Data to any third parties assisting in the implementation, administration and management of the Plan.  These recipients may be located in the United States or elsewhere throughout the world.  Optionee authorizes them to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing Optionee’s participation in the Plan, including any requisite transfer of such Data as may be required for the administration of the Plan and/or the subsequent holding of shares of stock on Optionee’s behalf to a broker or other third party with whom Optionee may elect to deposit any shares of stock acquired pursuant to the Plan.  Optionee may, at any time, review Data, require any necessary amendments to it or withdraw the consents herein in writing by contacting the Company; however, by withdrawing his or her consent, Optionee will affect his or her ability to participate in the Plan.

14.    Amendment.  The Committee may amend, modify or terminate this Certificate without approval of Optionee; provided, however, that such amendment, modification or termination shall not, without Optionee’s consent, reduce or diminish the value of this award determined as if it had been fully vested on the date of such amendment or termination.

15.    Plan Controls.  The terms contained in the Plan are incorporated into and made a part of this Certificate and this Certificate shall be governed by and construed in accordance with the Plan.  In the event of any actual or alleged conflict between the provisions of the Plan and the provisions of this Certificate, the provisions of the Plan shall be controlling and determinative.
16.    Successors.  This Certificate shall be binding upon any successor of the Company, in accordance with the terms of this Certificate and the Plan.

17.    Governing Law.  This Certificate shall be construed in accordance with and governed by the laws of the State of Georgia, United States of America, regardless of the law that might be applied under principles of conflict of laws.

18.    Severability.  If any one or more of the provisions contained in this Certificate is invalid, illegal or unenforceable, the other provisions of this Certificate will be construed and enforced as if the invalid, illegal or unenforceable provision had never been included.

19.    Relationship to Other Benefits.  The Shares shall not affect the calculation of benefits under any other compensation plan or program of the Company, except to the extent specially provided in such other plan or program.

20.    Notice.  Notices and communications under this Certificate must be in writing and either personally delivered or sent by registered or certified United States mail, return receipt requested, postage prepaid.  Notices to the Company must be addressed to Global Payments Inc., 10 Glenlake Parkway, North Tower, Atlanta, Georgia 30328, USA, Attn: Secretary, or any other address designated by the Company in a written notice to Optionee. Notices to Optionee will be directed to the address of Optionee then currently on file with the Company, or at any other address given by Optionee in a written notice to the Company.Exhibit 10.1

 Exhibit 10.1 

CONSULTING AGREEMENT 

This Consulting Agreement (the “Agreement”) is entered into as of October 1, 2014 (the “Effective Date”) by and
between Michael J. Peninger (the “Consultant”) and Assurant, Inc. (the “Company”). 
 WHEREAS, the Consultant plans to
retire from full time employment with the Company as Executive Vice President, with his last day of employment being October 1, 2014 (the “Retirement Date”); 

WHEREAS, the Company wishes to retain the Consultant, and the Consultant wishes to be retained by the Company, to provide consulting services
to the Company on the terms and conditions set forth herein; 
 NOW, THEREFORE, the parties agree as follows: 

 

	1.	Engagement and Services 

 (a) Engagement. 

 

	 	(i)	The Company hereby engages the Consultant to provide consultancy services to the Company in connection with the succession of his role as Executive Vice President, the succession of the Chief Executive Officer and the
Chief Financial Officer roles, and any related executive team structuring, retention and communication issues (collectively, the “Services”), and the Consultant agrees to provide such Services for the consideration set forth herein.

  

	 	(ii)	The specific tasks that the Company wishes the Consultant to perform and advice that the Company wishes the Consultant to provide shall be communicated to the Consultant by the Chief Executive Officer from time to time.

 (b) Equipment and Supplies; Office. The Consultant shall provide the Services using his own equipment and supplies and shall be based
in his home office. 
 (c) Hours. In addition to participating in scheduled meetings or conference calls as necessary, the Consultant shall be
available to consult as needed up to a maximum of one day per week. Consistent with his obligations under this Agreement, the Consultant is free to perform services for other recipients and is not obligated to work exclusively for the Company. 

 

	2.	Consultancy Period 

 (a) Period. The Consultant’s obligation to provide the Services
shall commence on October 2, 2014 and shall remain in effect until the earlier of: 
  

	 	(i)	one year from the Effective Date, or 

  

	 	(ii)	the termination of this Agreement as provided in Section 2(b), below, 

 such period being hereinafter
referred to as the “Consultancy Period” and the last day of the Consultancy Period being hereinafter referred to as the “Termination Date.” 

 (b) Unilateral Termination; Death or Disability. This Agreement 

 

	 	(i)	may be terminated by either the Company or the Consultant, with or without cause, by the terminating party giving written notice to the other party no less than 30 calendar days before the Termination Date;

  

	 	(ii)	in the event of the death or disability of the Consultant, shall automatically be terminated effective as of the date of death or the first day of such disability (as determined in good faith by the Company).

 (c) Effect of Termination. 
  

	 	(i)	If (A) the Termination Date is set by mutual agreement of the parties, or (B) the Company unilaterally terminates this Agreement other than for cause, or (C) the Agreement is terminated by reason of the
Consultant’s death or disability, then the Consultant (or, in the case of death, the Consultant’s estate or legal representative of his estate) shall bill, and the Company shall pay, for the Services through the last calendar day of the
month in which the Termination Date falls. 

  

	 	(ii)	If the Consultant unilaterally terminates this Agreement or the Company terminates this Agreement for cause, the Consultant shall bill, and the Company shall pay, for the Services through the Termination Date, with the
payment for any final incomplete month equal to the Monthly Rate (as defined in section 3(a), below) times the number of days in the month through and including the Termination Date divided by 30. 

 

	 	(iii)	Upon the Termination Date, all obligations, rights and duties arising out of this Agreement shall terminate except (A) the Company’s duty to make any remaining payments to the Consultant as provided for herein
and (B) the obligations, rights and duties provided for in the sections specified in section 12, below. 

  

	3.	Consultancy Fee and Expenses 

 (a) Monthly Rate; Billing and Payment. In consideration of
the Services to be rendered hereunder, the Company shall pay the Consultant a fee of $25,000.00 per month (the “Monthly Rate”) for each month of the Consultancy Period, subject to proration as provided in Section (2)(c)(ii), above. The
Consultant shall bill on a monthly basis and following the Termination Date, and the Company shall pay within 30 days of receipt of each invoice. 
 (b)
Expenses. The Consultant shall be entitled to reimbursement for all out-of-pocket expenses reasonably incurred in the performance of the Services, which shall be billed monthly and following the Termination Date by the Consultant and
supported by normal and customary documentation for such expenses. 
  

	4.	Work Product 

 (a) Defined. In this Agreement, the term “Work Product” shall mean
all tangible products generated by the Consultant as a result of his own efforts or jointly with others in the performance of the Services, including, but not limited to, any and all notes, materials, records, slides, information, presentations and
analyses recorded or preserved in any written, electronic, or other tangible form whatsoever. 
 (b) Ownership. The Consultant hereby irrevocably
assigns to the Company all right, title and interest in and to the Work Product. The Consultant will not make any use of any of the Work Product other than in connection with performance of the Services. Promptly after the Termination Date and at
any other time upon the request of the Company, the Consultant shall, at the Company’s option, (i) deliver all Work Product to the Company or (ii) destroy all Work Product in a secure and confidential manner and certify to the Company
that he has done so. 

  
 2 

	5.	Confidential Information 

 (a) Defined. In this Agreement, the term “Confidential
Information” shall mean all Work Product and any and all other confidential information and trade secrets that the Company or any of its other employees, officers, directors, consultants or agents provides, or otherwise becomes known, to the
Consultant relating to the Services or the Consultant’s employment with the Company before the Retirement Date, as well as all non-public information that the Consultant acquires in the performance of the Services, unless it is in or comes into
the public domain without breach of this Agreement by the Consultant. 
 (b) Non-Disclosure and Non-Use. Unless otherwise agreed to in advance in
writing by the Company, and except as provided in the proviso to this provision, below, the Consultant will: 
  

	 	(i)	keep all Confidential Information in strict confidence and not disclose it to any third party except in confidence to other employees of, consultants to or agents of the Company involved in the issues that are the
subject matter of the Services with the consent of the Company; 

  

	 	(ii)	not use the Confidential Information for any purpose other than the performance of the Services; 

  

	 	(iii)	take appropriate measures to prevent Confidential Information from being inadvertently disclosed to or seen or heard by any person other than members of the Board of Directors of the Company (the “Board”),
officers of the Company who are involved in the issues to which the Services relate, or other authorized consultants or agents retained by the Company in connection with such issues; 

provided, however, that, in the event that, at any time, the Consultant is under a legal duty, including pursuant to any subpoena or other order of a
court or government agency of competent jurisdiction, to disclose Confidential Information, the Consultant (A) shall notify counsel for the Company promptly upon receiving any such subpoena or document or otherwise learning of the existence of
any such duty, and (B) disclose Confidential Information only to the extent legally required, as advised by his counsel. In connection with any such subpoena, order or request, the Company shall provide legal counsel or pay the fees and
expenses, if any, of counsel for the Consultant. Such counsel may act as counsel for the Company (and/or counsel for the Board) unless, because of a conflict of interest, it is necessary for the Consultant to have separate counsel, in which case
such counsel will subject to the approval of the Company, not to be unreasonably withheld. 
 (c) Return or Destruction of Confidential Information.
Promptly after the Termination Date and at any other time upon the request of the Company, Consultant shall, at the Company’s option, (i) deliver to the Company all Confidential Information that is in written, electronic or other tangible
form or (ii) destroy all such Confidential Information in a secure and confidential manner and certify to the Company that he has done so. 
  

	6.	Non-Competition; Non-Solicitation  

 (a) Non-Competition. For a period of one year from the
Effective Date, the Consultant will not associate with or engage in (whether as a director, officer, employee, partner, consultant, agent or advisor) business or other activities that are, directly or indirectly, competitive with the business of the
Company without obtaining the prior written consent of the Company. 

  
 3 

 (b) Non-Solicitation. During the term of this Agreement and for a period of one year after the Termination
Date, the Consultant shall not, whether on the Consultant’s own behalf or on behalf of any entity or person, directly or indirectly (i) solicit or encourage any employee of the Company to leave the employment of the Company; or
(ii) hire any employee who was employed by the Company as of the Termination Date or who left the employment of the Company coincident with, or within six months prior to, the Termination Date. 

 

	7.	Insurance; Liability; Indemnity 

 The Consultant understands and acknowledges that, in performing
the Services, he will not be covered under the Company’s insurance policies. The Company will indemnify and hold the Consultant harmless for any liability that he may incur as a result of the performance of the Services, other than due to the
Consultant’s gross negligence or gross misconduct, and shall provide counsel or advance or reimburse fees and expenses of counsel as necessary in the event that the Consultant is subject to legal proceedings as a result of providing the
Services; provided, however, that such counsel may act as counsel for the Company (and/or counsel for the Board) unless, because of a conflict of interest, it is necessary for the Consultant to have separate counsel, in which case such
counsel will subject to the approval of the Company, not to be unreasonably withheld. 
  

	8.	Independent Contractor; No Employee Benefits; Taxes; No Agency or Authority 

  

	 	(a)	Independent Contractor. The Consultant will render the Services as an independent contractor and not as an employee of the Company, and nothing in this Agreement should be construed to create a partnership, joint
venture, or employer-employee relationship. 

  

	 	(b)	No Employee Benefits. The Consultant shall not be eligible for or entitled to any employee benefits of the Company. The Consultant understands that in the event the Internal Revenue Service or other governmental
authority were to determine that the Consultant and the Company were mistaken in their characterization of the Consultant as an independent contractor, the Consultant would then be in an excluded class of employees ineligible to participate in the
Company’s employee benefit plans and would not become entitled to retroactive benefits thereunder. 

  

	 	(c)	Taxes. The Consultant shall be solely responsible for all income, employment and self-employment tax reporting and returns and payments required to be filed with or paid to any federal, state, or local tax
authority with respect to the Consultant’s performance of the Services and receipt of fees under this Agreement. Because the Consultant is an independent contractor, the Company will not withhold or make payments for social security, make
unemployment insurance or disability insurance contributions, or obtain worker’s compensation insurance on the Consultant’s behalf. The Consultant agrees to accept exclusive liability for complying with all applicable state and federal
laws governing self-employed individuals, including obligations such as payment of taxes, social security, disability, and other contributions based on fees paid to the Consultant under this Agreement. The Consultant hereby agrees to indemnify and
defend the Company against any and all such taxes or contributions, including penalties and interest. 

  

	 	(d)	No Agency or Authority. This Agreement does not authorize the Consultant to act for the Company as its agent or to make any representation, contract or binding commitments on their behalf. 

 

	9.	Assignment 

 The Services to be performed by the Consultant hereunder are personal in nature. The
Company has engaged the Consultant as a result of the Consultant’s knowledge, abilities and expertise relating to such Services. The Consultant may not assign, sell, transfer, delegate or otherwise dispose any right, duty or obligation under
this Agreement. 

  
 4 

	10.	Governing Law 

 This Agreement shall be governed by and construed in accordance with the laws of
the State of New York, without giving effect to choice of law or conflict of law rules or doctrines. 
  

	11.	General 

  

	 	(a)	Entire Agreement. This Agreement constitutes the entire agreement of the parties concerning the subject hereof and supersedes all prior and contemporaneous understandings and communications relating thereto.

  

	 	(b)	Waiver or Modification. No waiver of any provision of this Agreement shall constitute a waiver of any other provision or of the same provision on another occasion. Failure of either party to enforce any provision
of this Agreement shall not constitute a waiver of such provision or any other provision of this Agreement. This Agreement may not be modified or amended except by writing signed by both parties, provided, however, that the sending of an
email from either party’s email account, when received by the other party, shall constitute a “signature” for purposes of this provision. 

  

	 	(c)	Notices. Any writing written notice or consent required or permitted hereunder may be given electronically, including by email, or by mail or delivery, as follows: 

 

	 	1.	If to the Consultant: 

 by email to mjpeninger@gmail.com; or 

by U.S. Mail or delivery to: 

Michael J. Peninger 
 550 N St.
Clair Street 
 Apt. 2402 

Chicago, IL 60611 
  

	 	2.	If to the Company: 

 by email addressed to bart.schwartz@assurant.com; or 

by U.S. Mail or delivery to: 

Chief Legal Officer 
 Assurant,
Inc. 
 One Chase Manhattan Plaza 

41st Floor 

New York, NY 10005 
  

	 	(d)	 Severability. It is expressly understood and agreed that although the Consultant and the Company consider the restrictions contained in this
Agreement to be reasonable, if a final judicial determination is made by a court of competent jurisdiction that the time or any other restriction contained in this Agreement is an unenforceable restriction against the Consultant, the provisions of
this Agreement shall not be rendered void but shall be deemed amended to apply as to such maximum time and to such maximum extent as such court may judicially determine or indicate to be enforceable (provided that in no event shall any such
amendment 

  
 5 

	 	
broaden the time period or scope of any restriction herein). Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Agreement is unenforceable, and
such restriction cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of any of the other restrictions contained herein. 

 

	12.	Survival of Provisions 

 Sections 4, 5, 6, 7, 8, 10 and 11, above, and this Section 12, shall
survive the termination of this Agreement. 
 13. Counterparts. This Agreement may be executed in counterparts, all of which together shall
constitute one agreement binding on all the parties hereto, notwithstanding that all such parties are not signatories to the original or the same counterpart. 

IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the date first written above. 

 

			
	 Consultant
  

/s/ Michael J. Peninger

	  
 Michael J.
Peninger

	
	Assurant, Inc.
	
	 /s/ Bart Schwartz

	By:	 	Bart Schwartz
		 	Executive Vice President,
		 	Secretary and Chief Legal Officer

  
 6

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