Document:

ex_100628.htm

Exhibit 10.2

 

	 

November 8, 2017

 

Re: Letter Agreement

 

Dear James M. Mitchell, 

 

Reference is made to that certain Employment Agreement between you and GulfMark Offshore, Inc. (the “Company”), dated May 30, 2014 and that certain Change of Control Agreement, between you and the Company, dated May 30, 2014 (the “Existing Agreements”). 

 

As you may be aware, the Company entered into a Restructuring Support Agreement on May 15, 2017 (the “RSA”) and filed a petition for relief under chapter 11 of title 11 of the United States Code to implement a restructuring of its balance sheet (the “Reorganization”) on May 17, 2017.

 

In consideration of the benefits contemplated by the RSA, you and the Company hereby agree that, as set forth in the RSA and the Amended Chapter 11 Plan of Reorganization of GulfMark Offshore, Inc., as modified on October 2, 2017 (Docket No. 309), as may be amended from time to time in accordance with the terms of the Restructuring Support Agreement (the “Plan of Reorganization”):

 

(i) prior to the assumption or rejection of the Existing Agreements, you and the board of directors of the reorganized Company (the “New Board”) will engage in good faith negotiations regarding changes to the Existing Agreements within the thirty (30) day period following the effective date of the Plan of Reorganization (the “Negotiation Period”); and 

 

(ii) notwithstanding anything to the contrary in the Existing Agreements or any other agreement between you and the Company, neither the Reorganization nor the transactions contemplated by the Plan of Reorganization will constitute a ‘Change of Control’ for purposes of the Existing Agreement or any other employment, severance, change of control or similar type of agreement or arrangement covering you. 

 

The Negotiation Period may be extended by a mutual agreement of you and the New Board. For the avoidance of doubt, the reorganized Company will have the right to reject the Existing Agreements if you and the New Board do not come to a mutually acceptable agreement during the Negotiation Period, as it may be extended by mutual agreement from time to time.

 

Sincerely,

 

GULFMARK OFFSHORE, INC.       

                  

	
			 

			
			/s/ Quintin V. Kneen     

			

			
			By: Quintin V. Kneen               

			

			
			Title: President & CEO 

			

				Accepted and Agreed:  /s/ James M. Mitchell          
	 	
			James M. Mitchell

			

              

 

GulfMark Offshore, Inc. | 842 W Sam Houston Parkway N| Suite 400 | Houston, Texas 77024

Phone 713 963-9522 | Fax 713 963-9796ex_100629.htm

Exhibit 10.3

 

	 

November 8, 2017

 

Re: Letter Agreement

 

Dear Samuel R. Rubio, 

 

Reference is made to that certain Severance Protection Agreement, between you and GulfMark Offshore, Inc. (the “Company”), dated April 6, 2016 (the “Existing Agreement”). 

 

As you may be aware, the Company entered into a Restructuring Support Agreement on May 15, 2017 (the “RSA”) and filed a petition for relief under chapter 11 of title 11 of the United States Code to implement a restructuring of its balance sheet (the “Reorganization”) on May 17, 2017.

 

In consideration of the benefits contemplated by the RSA, you and the Company hereby agree that, as set forth in the RSA and the Amended Chapter 11 Plan of Reorganization of GulfMark Offshore, Inc., as modified on October 2, 2017 (Docket No. 309), as may be amended from time to time in accordance with the terms of the Restructuring Support Agreement (the “Plan of Reorganization”):

 

(i) prior to the assumption or rejection of the Existing Agreement, you and the board of directors of the reorganized Company (the “New Board”) will engage in good faith negotiations regarding changes to the Existing Agreement within the thirty (30) day period following the effective date of the Plan of Reorganization (the “Negotiation Period”); and 

 

(ii) notwithstanding anything to the contrary in the Existing Agreement or any other agreement between you and the Company, neither the Reorganization nor the transactions contemplated by the Plan of Reorganization will constitute a ‘Change of Control’ for purposes of the Existing Agreement or any other employment, severance, change of control or similar type of agreement or arrangement covering you. 

 

The Negotiation Period may be extended by a mutual agreement of you and the New Board. For the avoidance of doubt, the reorganized Company will have the right to reject the Existing Agreement if you and the New Board do not come to a mutually acceptable agreement during the Negotiation Period, as it may be extended by mutual agreement from time to time.

 

Sincerely,

 

GULFMARK OFFSHORE, INC.           

              

	
			 

			
			/s/ Quintin V. Kneen      

			

			
			By: Quintin V. Keen               

			Title: President & CEO   

			

				Accepted and Agreed:  /s/ Samuel R. Rubio             
	 	Samuel R. Rubio

            

 

GulfMark Offshore, Inc. | 842 W Sam Houston Parkway N| Suite 400 | Houston, Texas 77024

Phone 713 963-9522 | Fax 713 963-9796ex_100630.htm

Exhibit 10.4

 

	 

November 8, 2017

 

Re: Letter Agreement

 

Dear David E. Darling, 

 

Reference is made to that certain Severance Protection Agreement, between you and GulfMark Offshore, Inc. (the “Company”), dated April 6, 2016 (the “Existing Agreement”). 

 

As you may be aware, the Company entered into a Restructuring Support Agreement on May 15, 2017 (the “RSA”) and filed a petition for relief under chapter 11 of title 11 of the United States Code to implement a restructuring of its balance sheet (the “Reorganization”) on May 17, 2017.

 

In consideration of the benefits contemplated by the RSA, you and the Company hereby agree that, as set forth in the RSA and the Amended Chapter 11 Plan of Reorganization of GulfMark Offshore, Inc., as modified on October 2, 2017 (Docket No. 309), as may be amended from time to time in accordance with the terms of the Restructuring Support Agreement (the “Plan of Reorganization”):

 

(i) prior to the assumption or rejection of the Existing Agreement, you and the board of directors of the reorganized Company (the “New Board”) will engage in good faith negotiations regarding changes to the Existing Agreement within the thirty (30) day period following the effective date of the Plan of Reorganization (the “Negotiation Period”); and 

 

(ii) notwithstanding anything to the contrary in the Existing Agreement or any other agreement between you and the Company, neither the Reorganization nor the transactions contemplated by the Plan of Reorganization will constitute a ‘Change of Control’ for purposes of the Existing Agreement or any other employment, severance, change of control or similar type of agreement or arrangement covering you. 

 

The Negotiation Period may be extended by a mutual agreement of you and the New Board. For the avoidance of doubt, the reorganized Company will have the right to reject the Existing Agreement if you and the New Board do not come to a mutually acceptable agreement during the Negotiation Period, as it may be extended by mutual agreement from time to time.

 

Sincerely,

 

GULFMARK OFFSHORE, INC.              

           

	
			 

			
			/s/ Quintin V. Kneen     

			

			
			By: Quintin V. Kneen                         

			

			
			Title: President & CEO     

			

				Accepted and Agreed:  /s/ David E. Darling            
	 	David E. Darling

                              

 

GulfMark Offshore, Inc. | 842 W Sam Houston Parkway N| Suite 400 | Houston, Texas 77024

Phone 713 963-9522 | Fax 713 963-9796ex_100594.htm

Exhibit 4.1

 

[Form of Series A Note]

 

Littelfuse, Inc.

 

3.48% Senior Note, Series A, Due February 15, 2025

 

	
			No. [_____] 

				
			[Date]

			
	
			$[_______]

				
			PPN 537008 C*3

			

 

 

   

For Value Received, the undersigned, Littelfuse, Inc. (herein called the “Company”), a corporation organized and existing under the laws of the State of Delaware, hereby promises to pay to [____________], or registered assigns, the principal sum of [_____________________] Dollars (or so much thereof as shall not have been prepaid) on February 15, 2025 (the “Maturity Date”), with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate of 3.48% per annum from the date hereof, payable semiannually, on the 15th day of February and August in each year, commencing with the February 15 or August 15 next succeeding the date hereof, and on the Maturity Date, plus Incremental Interest, if any, as provided by Section 1.3 of the Note Purchase Agreement referred to below, until the principal hereof shall have become due and payable, [provided that the first payment of interest hereunder shall be payable on August 15, 2018]1 and (b) to the extent permitted by law, (x) on any overdue payment of interest and (y) during the continuance of an Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time to time equal to the greater of (i) 5.48% or (ii) 2% over the rate of interest publicly announced by Bank of America, N.A. from time to time in New York, New York as its “base” or “prime” rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand) plus Incremental Interest, if any, as provided by Section 1.3 of the Note Purchase Agreement.

 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States of America in accordance with Section 14.1 as provided in the Note Purchase Agreement referred to below or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in such Note Purchase Agreement.

 

This Note is one of a series of Senior Notes (herein called the “Notes”) issued pursuant to the Note Purchase Agreement, dated November 15, 2017 (as from time to time amended, the “Note Purchase Agreement”), between the Company and the respective Purchasers named therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (ii) made the representation set forth in Section 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement.

 

1 To be included for Notes issued at the initial Closing and any transfers or re-registrations that occur prior to August 15, 2018.

 

 

 

 

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice to the contrary.

 

This Note is subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise.

 

If an Event of Default occurs and is continuing, the principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement.

 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State.

 

	
			 

				
			Littelfuse, Inc.

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By

				
			 

				
			 

			
	
			 

				
			 

				
			[Title]

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