Document:

Lease Agreement dated November 14, 2003

 EXHIBIT 10.68 
  
 LEASE AGREEMENT 
  
 THIS LEASE AGREEMENT (“Lease”) made as of the 14th day of November, 2003, by and between POLAR PLASTICS (NC), INC., a North Carolina corporation (“Landlord”), and WINCUP HOLDINGS, INC., a Delaware corporation (“Tenant”).

  
 WITNESSETH 
  
 A.     Landlord and Tenant, inter alia,
have entered into that certain Asset Purchase Agreement dated November 11, 2003 (the “Purchase Agreement”). 
  
 B.     Pursuant to the Purchase Agreement, Landlord and Tenant have agreed to execute and deliver this Lease. 
  
 NOW, THEREFORE, in consideration of the premises and the covenants and
agreements in the Purchase Agreement, Landlord and Tenant hereby agree as follows: 
  
 Article I 
 PREMISES 
  
 1.1     Landlord hereby demises and leases unto Tenant the interior of a certain building (including the loading docks
thereof) located at 2500 Old Lexington Road, Winston-Salem, North Carolina (the “Premises”). Tenant shall also have the exclusive use of the parking areas around the Premises and the driveways and sidewalks providing access to the
Premises. 
  
 1.2     Landlord represents and warrants that it
has good and marketable title to the Premises. 
  
 Article II

 TERM 
  
 2.1     The term (“Term”) of this Lease shall commence upon the date hereof (“Commencement Date”) and shall automatically
terminate on May 31, 2004. 
  
 Article III 
 USE 
  
 3.1     The Premises may be used and occupied for light manufacturing, warehousing, distribution and incidental office use (the “Permitted
Use”). 
  
 3.2     Landlord represents and warrants to
Tenant that the Premises may be used by Tenant under applicable laws and regulations for the Permitted Use. 
  
 Article IV 
 RENT 
  
 4.1     Liability for the payment of rent shall accrue from the
Commencement Date. During the Term, Tenant shall pay to Landlord a monthly rental of $10.00 (the “Basic Rent”). Such monthly payment shall be made in advance and due and payable on the Commencement Date and the first day of each and every
month following the Commencement Date (pro rated for any partial month). 

 4.2    In addition to the Basic Rent, Tenant shall pay only those additional amounts as are
specifically set forth in this Lease. All such costs and expenses shall be collectible as rent (hereinafter “Additional Rent”) and if not otherwise paid by Tenant shall be due and payable by Tenant within thirty (30) days after
presentation to Tenant of bills therefor by Landlord. 
  
 4.3    All rents shall be payable at the offices of Landlord, or at such other place as Landlord may from time to time designate by written notice. 
  
 4.4    If the Commencement Date is other than the first day of a calendar month, the monthly rental for the month during
which the Commencement Date occurs shall be prorated on a per diem basis based on a thirty (30) day month. 
  
 Article V 
 UTILITIES 
  
 5.1    Tenant shall promptly pay, as and when the same become due and
payable, all charges for any utility, including water, sewer, gas, electric and telephone, used or consumed in or on the Premises. 
  
 Article VI 
 IMPROVEMENTS,
MAINTENANCE, AND REPAIRS 
  
 6.1    Landlord shall be
responsible, at its cost and expense, for the following: 
  
 (a)
    To keep and maintain in good, clean, safe and sanitary order, condition and repair the roof, exterior walls and flooring, foundation and other structural components of the Premises. 
  
 (b)     To keep and maintain in good and sanitary order,
condition and repair the water and sewer lines leading into the Premises. 
  
 (c)     To keep and maintain in good and sanitary order, condition and repair the plumbing, electrical, air conditioning and heating, fire and safety systems, serving the Premises. 
  
 (d)     To keep and maintain all sidewalks, parking
areas, curbs and access ways adjoining the Premises in a good, safe, clean and orderly condition, free of accumulation of dirt, rubbish, snow and ice, and keep and maintain all landscaped areas in a neat and orderly condition. 
  
 6.2    Tenant, at its sole cost and expense, shall keep and maintain the
Premises in good, clean, safe and sanitary order. Tenant shall be responsible for any nonstructural repairs or replacements within the Premises or any repairs or replacements necessitated by misuse, abuse or neglect of Tenant. Tenant shall be
responsible for light bulbs, fluorescent tubes, sanitary and cleaning supplies, janitorial services and interior window surface cleaning. Landlord, at its sole cost and expense, shall make all other repairs and replacements necessary to keep the
Premises in good order and condition and tenantable. 
  

 2 

 6.3    Tenant shall have the right, with Landlord’s consent, which consent shall not be
unreasonably withheld, conditioned or delayed, to affix to the exterior of the Premises signs that identify Tenant. 
  
 6.4    All fixtures, equipment, machinery and other property purchased by Tenant pursuant to the Purchase Agreement, whether attached to the Premises
or not (the “Purchased Assets”), and all other equipment, machinery, furniture and property of Tenant shall be removable at any time and from time to time during the Term, or at its expiration or prior termination. Upon the Commencement
Date, Landlord shall execute a landlord’s waiver in the form attached hereto as Exhibit A. 
  
 6.5    Upon the expiration or earlier termination of this Lease, Tenant shall surrender the Premises in the same condition as of the Commencement Date, reasonable wear and tear, repairs for which
Landlord is responsible hereunder and damage by Casualty (as defined below) excepted. Tenant may elect, with Landlord’s consent, to abandon at the Premises all or any portion of the Purchased Assets, and such portion shall following the
expiration or termination of this Lease become the property of Landlord. 
  
 Article VII 
 ENVIRONMENTAL MATTERS 
  

	7.1    As	used on this Lease, the following shall mean: 

  
 (a)    “Environmental Law” shall mean any federal, state or local, statute, act, law, ordinance, rule, regulation or order
pertaining to the environment whether now or hereafter enacted. 
  
 (b)    “Hazardous Substance” shall mean any hazardous or toxic substance as defined in any Environmental Law or in any rule, regulation or order issued pursuant to any Environmental Law. 
  
 (c)    “Enforcement Agency” shall mean the
Environmental Protection Agency (“EPA”) and any state, county, municipal or other agency having authority to enforce any Environmental Law. 
  
 7.2    Landlord shall be responsible for all costs, expenses, damages and penalties resulting from the existence of any Hazardous Substance at, under
or in the area immediately surrounding the Premises at the date of the execution of this Lease, including without limitation the cost of containment, clean-up and removal of any Hazardous Substances. Landlord will indemnify and hold harmless Tenant,
and its Representatives (as that term is defined in the Purchase Agreement), shareholders, subsidiaries and Related Persons (as that term is defined in the Purchase Agreement) (collectively, the “Tenant Indemnified Persons”), and will
reimburse the Tenant Indemnified Persons for any loss, liability, claim, damage, expense (including costs of investigation and defense and reasonable attorneys’ fees and expenses) or diminution of value, whether or not involving a Third-Party
Claim (as that term is defined in the Purchase Agreement arising from or in connection with any Liability (as that term is defined in the Purchase Agreement) from the existence of any Hazardous Substances at, under or in the area immediately
surrounding the Premises at the date of the execution of this Lease. This Section 7.2 shall survive the expiration or earlier termination of this Lease for a period of three (3) years. 
  

 3 

 7.3    Tenant shall not intentionally or unintentionally use, store, handle, spill or discharge any
Hazardous Substance at the Premises in violation of Environmental Law and Tenant shall be responsible for all costs, expenses, damages, and penalties resulting from any such use, storage, handling, spill or discharge of such Hazardous Premises at
the Premises in violation of Environmental Law. 
  
 7.4    Tenant shall promptly deliver to Landlord copies of all notices made by Tenant to, or received by Tenant from, any Enforcement Agency or from the United States Occupational Safety and Health Administration
concerning environmental matters or Hazardous Substances at the Premises. Landlord shall promptly deliver to Tenant copies of all notices received by Landlord from any Enforcement Agency or from the United States Occupational Safety and Health
Administration concerning environmental matters of Hazardous Substances at the Premises. 
  
 Article VIII 
 INSURANCE 
  
 8.1    During the Term, Landlord, at Tenant’s expense, shall keep in full force and effect (i) “all risk”
property insurance coverage including coverage for earthquake and flood in an amount equal to the full insurable value of the Premises, (ii) commercial general liability insurance, naming Tenant as an additional insured, protecting Landlord and
Tenant against any liability occasioned by any occurrence on or about any portion of the areas surrounding the Premises arising out of Landlord’s, its agents, contractors and employees’ acts or omissions, with primary coverage of
$3,000,000 and excess, or umbrella, coverage of $5,000,000. Tenant shall within thirty (30) days of Tenant’s receipt of an invoice therefor reimburse Landlord for the cost of such insurance. If for the period covered by any insurance policy
Tenant leases the Premises for less than the entire period, the amount due to Landlord under this Section shall be prorated based on the number of days during the period of such insurance policy the Premises is leased to the Tenant. 
  
 8.2    During the Term, Tenant agrees to keep in full force and effect,
at Tenant’s sole cost and expense, (a) commercial general liability insurance, naming Landlord and any mortgagee of the Premises as an additional insured, protecting Landlord, Tenant and any such mortgagee against any liability occasioned by
any occurrence on or about any portion of the Premises arising out of Tenant’s and its invitees’ and guests’ use of the Premises, with primary coverage of $3,000,000 and excess, or umbrella, coverage of $5,000,000, and (b) all-risk
property insurance equal to the full insurable value of the furnishing, furniture, equipment and other personal property of Tenant located in or about the Premises. 
  
 8.3    With respect to each policy of insurance herein required to be procured by the parties, on or before the
Commencement Date or before any such insurance policy will expire, each party shall deliver to the other a certificate of insurance of each such policy. Each policy shall provide that the insurer shall give to the other thirty (30) days’
written notice prior to any cancellation of the policy. 
  

 4 

 8.4    Tenant may carry any insurance required by this Lease under a blanket policy which shall
include coverage, applicable to the Premises for the risks and in the amounts required pursuant to this Article VIII. 
  
 8.5    Each party hereby releases the other and the other’s officers, directors, agents, and employees, to the extent of each party’s
insurance coverage, from any and all liability for any loss or damage which may be inflicted upon the property of such party even if such loss or damage shall be brought about by the fault or negligence of the other party, its officers, directors,
agents or employees; provided, however, that this release shall be effective only with respect to loss or damage occurring during such time as the appropriate policy of insurance shall contain a clause to the effect that this release shall not
affect said policy or the right of the insured to recover thereunder. If any policy does not permit such a waiver, and if the party to benefit therefrom requests that such a waiver be obtained, the other party agrees to obtain an endorsement to its
insurance policies permitting such waiver of subrogation if it is commercially available and if such policies do not provide therefor. If an additional premium is charged for such waiver, the party benefiting therefrom, if it desires to have the
waiver, agrees to pay to the other the amount of such additional premium promptly upon being billed therefor. 
  
 Article IX 
 CASUALTY AND CONDEMNATION 
  
 9.1    In the event the Premises are damaged, destroyed, or rendered
partially or wholly untenable by fire, the elements, accident or other casualty (any of such cases herein a “Casualty”), Landlord shall repair and restore the Premises unless either Landlord or Tenant elects to terminate this Lease as
provided below. 
  
 9.2    If the whole or any part of the
Premises shall be taken under the power of eminent domain, this Lease shall terminate as to the part so taken on the date Tenant is required to yield possession thereof to the condemning authority. Landlord shall make such repairs and alterations as
may be necessary in order to restore the part not taken to useful condition unless Tenant elects to terminate this Lease as provided below. 
  
 9.3    In the event of damage or destruction or condemnation of the Premises, the Basic Rent hereunder shall abate proportionate to the area of the
Premises rendered unsuitable for use by Tenant from the date of such destruction until the date of restoration of the Premises to a condition tenable by Tenant and notice thereof by Landlord to Tenant. 
  
 9.4    In the event of a Casualty or a taking of all or any portion of
the Premises, Landlord or Tenant shall have the right to terminate this Lease by written notice to the other party, such termination to be effective on the date specified in such notice which shall not be less than thirty (30) days after the date of
such notice. 
  
 Article X 
 ASSIGNMENT AND SUBLETTING 
  
 10.1    Without the written consent of Landlord, Tenant shall not have the right to assign this Lease, to sublet all or any part of the Premises, or
to mortgage, or encumber its leasehold, to any person, trust, partnership, corporation or other entity. Landlord shall be entitled to receive any amounts paid to Tenant from an assignee of this Lease and all rents paid to Tenant by any subtenant of
the Premises to the extent such rents are in excess of the Basic Rent and Additional Rent payable hereunder. 
  

 5 

 Article XI 
 SUBORDINATION AND ATTORNMENT 
  
 11.1    This Lease is subject and subordinate to any first mortgage now or hereafter placed upon the Premises. Tenant agrees, upon demand, to execute and deliver such additional documents evidencing the subordination of
this Lease to the lien of any such mortgage now or hereafter placed upon the Premises, as shall be desired by any mortgagee or encumbrance holder. 
  
 11.2    Landlord represents and warrants that Tenant shall have quiet enjoyment of the Premises and all of the rights and privileges hereunder free
from any disturbance or interference but subject to the terms and provision of this Lease. 
  
 Article XII 
 ENTRY UPON PREMISES 
  
 12.1    Landlord shall have the right to enter upon the Premises only at
reasonable times and upon reasonable notice and without disrupting Tenant’s use of the Premises. 
  
 12.2    The Landlord shall indemnify, defend (at Tenant’s option) and hold harmless Tenant and its agents, employees and invitees, from and against and reimburse all of the foregoing with
respect to, any and all claims, liabilities, costs, damages, suits and expenses incurred or suffered by Tenant by reason of any entry upon the Premises by the Landlord and its representatives. 
  
 Article XIII 
 DEFAULTS AND REMEDIES 
  
 13.1    If Tenant does not pay in full any amount within ten (10) days after written notice from Landlord that the same is due hereunder, or materially defaults under any provision contained herein
and such default is not cured within thirty (30) days after written notice from Landlord, or if Tenant files a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee, or if Tenant makes a general
assignment for the benefit of creditors or takes advantage of any insolvency act, or if a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee is filed against Tenant and within ninety (90) days
thereof Tenant fails to secure discharge of such proceeding, then and in any such event, Landlord shall have the right to do once or more often, any one or more of the following: 
  
 (a)    perform, on behalf and at the expense of Tenant, any obligation of Tenant under this Lease which
Tenant has failed to perform and of which Landlord shall have given Tenant notice, the cost of which performance by Landlord, together with interest thereon from the date of such expenditure, shall be deemed Additional Rent and shall be payable by
Tenant to Landlord upon demand; 
  
 (b)    avail itself of any other remedies permitted by law. 
  

 6 

 Article XIV 
 NOTICES 
  
 14.1    All notices, consents, waivers and other communications required or permitted by this Lease shall be in writing and shall be deemed given to a party when (a) delivered to the appropriate address by hand or by
nationally recognized overnight courier service (costs prepaid); (b) sent by facsimile or e-mail with confirmation of transmission by the transmitting equipment; or (c) received or rejected by the addressee, if sent by certified mail, return receipt
requested, in each case to the following addresses, facsimile numbers or e-mail addresses and marked to the attention of the person (by name or title) designated below (or to such other address, facsimile number, e-mail address or person as a party
may designate by notice to the other parties): 
  

	 Landlord:
	 	Polar Plastics (NC), Inc.
	 	 	c/o Polar Plastic Ltd.
	 	 	St. Laurent, Quebec, Canada H4R 2B9
	 	 	Attention: Mr. Eric Cohen
	 	 	Fax no.: 514-331-2475
	 	 	E-mail address: polarprima@aol.com
		
	 with a mandatory copy to:
	 	Wiener & Wiener LLP
	 	 	Attention: Stephen W. Wiener, Esq.
	 	 	Suite 400 Commonwealth Bldg
	 	 	512 Hamilton Street
	 	 	Allentown, PA 18101
	 	 	Fax no.: 610-821-8635
	 	 	E-mail address: sww@wienerlaw.com
		
	 Tenant:
	 	WinCup Holdings, Inc.
	 	 	Attention: Caroline J. Williamson, Esq.
	 	 	Three Radnor Corporate Center, Suite 300
	 	 	Radnor, PA 19087
	 	 	Fax no.: 610-341-9600
	 	 	E-mail address: carriewilliamson@radnorholdings.com
		
	 with a mandatory copy to:
	 	Duane Morris, LLP
	 	 	4200 One Liberty Place
	 	 	Philadelphia, Pa 19103
	 	 	Attention: Vincent F. Garrity, Jr., Esq.
	 	 	Fax no.: 215-979-1020
	 	 	E-mail address: garrity@duanemorris.com

  

 7 

 Article XV 
 BROKERS 
  
 15.1    Each party represents and warrants to the other that it has had no dealings, negotiations or consultations with respect to the Premises or this Lease with any broker or finder and that no broker or finder called
the Premises to its attention for lease or took any part in any dealings, negotiations or consultations with respect to the Premises or this Lease. Each party shall indemnify, defend and hold the other harmless from and against any claims, actual or
threatened, and any expenses (including attorneys fees) as a result of a breach of the foregoing representation and warranty. 
  
 15.2    The provisions of this Article shall survive the termination or expiration of this Lease. 
  
 Article XVI 
 REAL ESTATE TAXES 
  
 16.1    Tenant shall pay, as Additional Rent, in each tax year during the Term all real estate taxes, use and occupancy taxes, ad valorem taxes and assessments or any other tax imposed or levied against the Premises
within thirty (30) days after Tenant’s receipt of a bill therefor from Landlord. If during any tax year, Tenant leases the Premises for less than twelve (12) months, the amount due to Landlord under this Section shall be prorated based on the
number of days during the tax year the Premises is leased to the Tenant. 
  
 Article XVII 
 MISCELLANEOUS 
  
 17.1    This Lease shall be construed in accordance with the laws of the State of North Carolina, choice of laws
principles notwithstanding. 
  
 17.2    This Lease shall inure
to the benefit of and be binding upon the parties, their successors and permitted assigns. 
  
 17.3    This Lease can be modified only by writing signed by Landlord and Tenant and attached to the original or a copy of the original. 
  

 8 

 IN WITNESS WHEREOF the parties have caused this Lease to be duly executed the day and year first above
written. 
  
  

	 LANDLORD:

	
	 POLAR PLASTICS (NC), INC.

		
	 By:
	 	/S/     ERIC COHEN
	 	 	

	 Name:
	 	Eric Cohen
	 Title:
	 	CEO
	
	 TENANT:

	
	 WINCUP HOLDINGS, INC.

		
	 By:
	 	/S/     MICHAEL T. KENNEDY
	 	 	

	 	 	Name: Michael Kennedy
	 	 	Title: President

  
  

 9 

 EXHIBIT A 
  
  
 LANDLORD’S WAIVER AND CONSENT 
  
  
 LANDLORD’S WAIVER AND CONSENT, dated as of the              day of November, 2003 between POLAR PLASTICS (NC), INC., having an office at c/o Polar Plastic Ltd., St.
Laurent, Quebec, Canada H4R 2B9, Attention: Mr. Eric Cohen, (hereinafter called “Landlord”), and PNC BANK, NATIONAL ASSOCIATION, having an office at 1600 Market Street, P2-P070-31-2, Philadelphia, PA 19103, ATTN: Janeann Fehrle, in its
capacity as Agent (“Agent”) on behalf of the financial institutions party (collectively, the “Lenders”) to that certain Fourth Amended and Restated Revolving Credit and Security Agreement dated December 26, 2001 (as same has been
or may be amended, restated, or replaced from time to time, the “Credit Agreement”). 
  
 WHEREAS, Lenders have made or are about to make one or more loans, advances, and/or other financial accommodations to WinCup Holdings, Inc. (hereinafter called “Debtor”), to be secured in whole or in part by
security agreements granting a security interest to Agent, for the benefit of Lenders, in any and all of Debtor’s personal property including, without limitation, all of Debtor’s now owned or hereafter acquired accounts, accounts
receivable, contract rights, instruments, documents, general intangibles, chattel paper, investment property, inventory, equipment, furniture, fixtures, books and records (hereinafter called the “Collateral”); and 
  
 WHEREAS, the Collateral is or may be installed or kept at the premises known
as 2500 Old Lexington Road, Winston-Salem, North Carolina (the “Premises”), which Premises are owned by Landlord and leased to Debtor and the legal description of which is (including metes and bounds, lot and block, range and
section) set forth on Schedule A hereto. 
  
 NOW, THEREFORE, in
consideration of the loans, advances and/or financial accommodations extended by Lenders to Debtor, at any time, and other good and valuable consideration, the undersigned, intending to be legally bound, agrees as follows: 
  
 1.     Landlord represents that the lease between
Landlord and Debtor regarding the Premises (“Lease”) is in full force and effect and that the Debtor is not in default under the Lease. Landlord agrees to provide to Agent, concurrently with the issuance to Debtor, a copy of all notices of
default delivered to Debtor with respect to the Lease. Such notices shall be delivered to Agent at its address set forth above. 
  
 2.     Landlord consents to the installation or location of the Collateral at the Premises, and hereby agrees to waive and relinquish
in favor of Agent, and agrees that it will not assert or exercise, any right, claim, title, interest or security interest in or lien upon any of the Collateral which it may have or acquire by reason of the installation in, attachment to or location
of the Collateral at the Premises, or otherwise (including without limitation any landlord’s lien or rights of levy, distraint, seizure or execution), whether arising under any agreement, instrument or law now or hereafter in effect. Any
Collateral shall, at all times, be considered to be personal property regardless of whether or the manner in which it may be affixed to the Premises, so long as any obligations are owing to Lenders by Debtor (Agent shall not, however, claim any
interest in any heating, electrical, plumbing, air conditioning or mechanical systems at the Premises). 

 3.    Agent, at its option, may enter the Premises at any time for the purpose of
repossessing, removing, selling or otherwise dealing with the Collateral, and such license shall be irrevocable and shall continue from the date Agent enters the Premises for as long as Agent reasonably deems necessary. Landlord shall not interfere
with or attempt to prevent Agent from exercising any of its rights as a secured creditor under the Credit Agreement or under applicable law (including the Uniform Commercial Code) with respect to the Collateral on the Premises. 
  
 4.    Landlord further agrees to accept from Agent any
payment or performance tendered or made by Agent to cure any such default (including, without limitation, any payment defaults), it being understood that Agent shall have no obligation to cure any such default and any payment made or act done by
Agent to cure any such default shall not constitute an assumption of the Lease or any obligation of Debtor. In the alternative, provided that Landlord has terminated, or has the right to terminate the Lease, Landlord shall, at Agent’s request,
negotiate in good faith to enter into a new lease containing terms and conditions substantially similar to the Lease with a party that has purchased or is willing to purchase Collateral being sold by Agent. 
  
 5.    The provisions hereof shall be irrevocable and
remain in full force and effect until Debtor has fully paid and performed all of its obligations to Agent and Lenders under all agreements, instruments and documents evidencing such obligations, and under all security agreements, present and future,
and any extensions, modifications and renewals thereof at any time made, and until all obligations, if any, of Lenders to extend loans or financial accommodations to Debtor shall have terminated. 
  
 6.    Nothing contained herein, and no exercise by Agent
of any of its rights hereunder (including the entry by Agent to the Premises and the making of any payments by Agent to the Landlord), shall be deemed to make the Agent a tenant at the Premises or be deemed to delegate any duties or obligations
under the Debtor’s lease to or constitute any assumption thereof by the Agent. Nothing herein contained shall compel Agent to remove, retain, hold, continue to hold, sell or otherwise deal with any or all of the Collateral. 
  
 7.    This Waiver and Consent shall be binding upon and
inure to the benefit of the parties herein named and their respective assigns and successors in interest. Landlord agrees to notify any purchaser or successor owner or landlord of the Premises of the existence of this Waiver. 
  
 8.    This Waiver shall be binding and effective upon the
undersigned upon the written approval hereof by Agent and no amendment, waiver or termination of this Waiver shall be binding or effective as to without Agent’s prior written consent. 

 IN WITNESS WHEREOF, the undersigned has duly executed this Waiver and Consent as of the day and year
first above written. 
  
  

	 WITNESS:
	 	POLAR PLASTICS (NC), INC.
			
	
	 	By:	 	  

			
	 	 	Name:	 	  

			
	 	 	Title:	 	  

  
  

	 STATE
OF                                       
   
	  	 
		
	 COUNTY
OF                                       
   
	  	 

  
  
 On this              of November, 2003, before me personally appeared
                                , to me known and being duly sworn, deposes and
says that s/he is the authorized agent of POLAR PLASTICS (NC), INC., the Landlord described in the foregoing Landlord Waiver and Consent; that s/he signed the Landlord Waiver and Consent as such agent pursuant to the authority vested in him/her by
law; that the Agreement is the voluntary act of the Landlord; and s/he desires the same to be recorded as such. 
  
  

	 	 	

	 	 	Notary Public
		
	 	 	My Commission Expires:

 SCHEDULE A 
  
  
 LEGAL DESCRIPTION OF PREMISES

  
  
 That certain tract or parcel of real property situated in Winston Township, Forsyth County, North Carolina, and more particularly described as follows: 
  
 BEGINNING at an iron stake in the west right-of-way line of Old Lexington Road, said iron stake being located at the southeast corner of Lot
27, Block 57 of the Plat of Property of Winston-Salem Land & Investment Co., as per a plat recorded in Plat Book 4, Page 147, Forsyth County Registry, and said iron stake also marking the southeast corner of Bob B. King property (see Book 1172,
Page 907, Forsyth County Registry) and from said beginning point running thence with said west right-of-way line of Old Lexington Road along a curve to the left of the following four chord courses and distances: South 0-12-24 West 100.03 feet to a
point, South 4-07-26 East 100.08 feet to a point, South 8-50-26 East 99.97 feet to a point, and South 6-47-28 East 83.74 feet to an iron stake, the southeast corner of the herein described tract; thence running North 77-28-13 West 392.78 feet to an
iron stake in the east right-of-way line of the Winston-Salem Railroad, said iron stake being located 50.00 feet from the centerline of the main tract; thence running with said east right-of-way line to the Winston-Salem Railroad North 12-27-48 East
363.29 feet to an iron stake, the southwest corner of the aforementioned Bob B. King property; thence running with the southern line of the said Bob B. King property South 77-58-14 East 279.00 feet to the POINT AND PLACE OF BEGINNING and containing
2.756 acres, more or less, according to a survey by Daniel W. Donathan, R.L.S., dated September 28, 1981 and captioned “Wachovia Bank and Trust Company, N.A., Executor U/W Geraldine F. Pratt (Deceased).” The property described above is the
same property described in deed recorded in Book 891, Page 481, Forsyth County Registry, and it is also known and designated as Lot 102, Block 770 of the Forsyth County Tax Maps.Employment Agreement - Mr. Tim Hammond, filed with the 2003 Form 20-F

 Exhibit 4.3 
  

Coles Myer Ltd. 
  
 John Fletcher 
 Chief
Executive Officer 
  
 1 February 2002 

 
 Tim Hammon 
 Corporate & Shared Services 
  
 Dear Tim, 
  
 It is with pleasure that I write to confirm our offer of employment with Coles Myer Ltd (“the Company”) on the following terms and conditions. While you are
employed by the Company you may be required to work for the Company and/or any of its subsidiaries. Further, whilst you are an employee of the Company, your Total Fixed Compensation may be paid to you by the Company or one of its subsidiaries.

  
 1. Position 
  
 Your position will continue to be Chief Officer Corporate & Shared Services and this
agreement shall commence as of 1 February 2002. 
  
 During your ongoing employment
the Company may restructure its operations and management from time to time. Not-withstanding this, in making any such changes your Total Fixed Compensation entitlements will be maintained and the Company will take into consideration your skills and
competencies. You should however be aware that such changes may include changes in title, role or reporting relationship within the Company or any of its subsidiaries. The Company will however discuss any proposed changes with you prior to them
occurring. 
  
 1.1 Entire Agreement 
  
 This agreement supersedes all previous contracts, agreements and understandings in respect
of your employment with the Company and any of its subsidiaries and embodies the entire agreement between yourself and the Company. 
  
 2. Remuneration Package 
  
 In accordance with the Company’s Remuneration Policy, you will receive remuneration in the form of a Total Fixed Compensation package, which will be subject to annual review. However, your performance will be
subject to ongoing review throughout the year. 
  
 Your Total Fixed Compensation
package will be $790,010 per annum. The elements included in your Total Fixed Compensation package are: 
  

	 	•	 	Cash Salary 

  

	 	•	 	Superannuation 

  

	 	•	 	Vehicle (s) 

  
 Coles Myer Ltd. A.B.N. 11 004 089 936 
 800 Toorak Road, Tooronga, Victoria 3146, Australia. PO Box
2000, Glen Iris, Victoria, Australia 
 Telephone: 61 3 9829 3667 Facsimile: 61 3 9829 3600 

 i.) Cash Salary 
  
 Subject to paragraph 2 (ii) you may elect the proportion of your Total Fixed Compensation to be taken as cash salary.

  
 ii.) Superannuation 
  
 Your Total Fixed Compensation will continue to be adjusted to account for
Superannuation. There will be deducted from your Total Fixed Compensation the notional cost, as determined by the Company from time to time, to the Company of providing your superannuation benefit in the Coles Myer Superannuation Fund. 

 
 You may also arrange with the Company to make additional voluntary
contributions from your Total Fixed Compensation package on either a pre-tax or post-tax basis. Please contact your General Manager of Human Resources for further information, should you wish to make such arrangements. 
  
 iii.) Vehicles 
  
 In accordance with the Company’s Vehicle Policy, you may elect to be
allocated a vehicle(s). The cost of the vehicle (s) including finance, insurance, fuel, maintenance and FBT will form part of your Total Fixed Compensation package. Guidelines regarding the usage of vehicles will be provided to you. 
  

	3. Bonus Program	  	 In this position, you are eligible to participate in the Company’s Bonus Program which will vary from time to time depending upon
Company policies and the needs of the business. Bonus payments will be determined at the discretion of the Company.
  
 The current Bonus Program provides you with a possible annual bonus calculated as a percentage of your Total Fixed Compensation for the previous financial year. Such a
bonus if payable, is also conditional on you remaining in an eligible position until 1 October following the 12 month assessment period ended 31 July.
  
 You will be advised annually of your participation in any bonus program. This advice will include the bonus potential as well as details of the performance
requirements.

		
	4. Share Options	  	 In this position you may be entitled to Share Options at the discretion of the Company, in line with rules of any Share Option Program as
it applies from time to time. If you are entitled to Share Options, details of the relevant program will be discussed with you.
  

  
  
  
  

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 5. Other Benefits 
  
 You will be entitled to the following additional benefits that may be varied from time to time in accordance with Company policy. 
  

	 Point of Sale Discount:
	  	You will continue to be entitled to the relevant Point of Sale discount as provided by Coles Myer Businesses.
		
	 Executive Discount:
	  	You will continue to receive an additional 10% discount on Myer/Grace Bros purchases charged to your Coles Myer Ltd. Credit Card.

  
 6. Location 
  
 Your position location will be Tooronga. 
  
 However, dependent upon future Company operating requirements or promotional opportunities,
the Company may require you, with reasonable notice, to alter your location, including possible intrastate relocation. Any possible interstate relocation will only occur with your mutual agreement. The Company will consult with you prior to any
change occurring about the effects of such a change and provide you with relocation assistance in accordance with the Company’s Relocation Policy. 
  
 7. Hours of Work 
  
 You are required to work a minimum of 40 hours per week. However, you are expected to work any additional hours that are necessary to perform your duties. Payment for any additional hours worked is included in your
Total Fixed Compensation package. 
  
 8. Continuity of Service 

 
 Your entitlement to your existing accruals of Sick, Annual and Long Service Leave will be
maintained. 
  
 If you were previously employed by one of the Company’s
subsidiaries, your accruals of Sick, Annual and Long Service Leave will be transferred. 
  
 9. Leave 
  
 9.1 Annual Leave 
  
 You will continue to be entitled to 20 working days paid annual leave upon each completed
year of service. Annual leave can be taken at times mutually agreed between you and the Company within twelve months of your entitlement becoming due. However the Company may direct you to take your annual leave in cases where you and the Company
are unable to reach an agreement on when leave should be taken. 
  

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 9.2. Sick Leave 
  
 You will continue to be entitled to 8 days sick leave upon each completed year of service. All sick leave is cumulative but will not be paid out on termination of
employment. 
  
 At the Company’s request, you may be required to provide
medical certification as evidence of illness or injury for payment to be made. 
  
 9.3. Carer’s Leave 
  
 You will continue to be entitled to
Carer’s Leave in accordance with Company policy as varied from time to time. The current policy provides up to 3 days per annum to care for members of your immediate family in times of illness. This leave does not accumulate from year to year.
At the Company’s request, you may be required to provide a medical certificate or statutory declaration to support this leave. 
  
 9.4. Parental Leave 
  
 Parental leave means unpaid maternity, adoption or paternity leave. You are entitled to such leave in accordance with Company policy and legislative requirements. 
  
 9.5. Long Service Leave 
  
 Long Service Leave will accrue, and must be taken, in accordance with relevant legislation. However, Long Service Leave can be taken at
times mutually agreed between you and the Company. The Company may direct you to take your accrued long service leave upon reasonable notice being given to you by the Company. 
  
 10. Equal Employment Opportunity 
  
 The Company strives to provide all employees with equal employment opportunities. The Company’s equal opportunity policy precludes discrimination and harassment
based on, but not limited to, age, race, religion, sex, marital status, pregnancy, breast feeding, parental or carers status, political belief, industrial activity, sexual preference, gender identity and disability. You are required to familiarise
yourself with the Company’s equal opportunity policy and comply with it. 
  
 11. Occupational Health & Safety 
  
 You are required to
perform your duties in a safe manner by observing all safe operating procedures notified to you by the Company and ensuring that you do not undertake any activity that may cause injury to yourself or your fellow employees. 
  
 You are required to familiarise yourself with the Company’s policy on Occupational
Health & Safety and comply with it. 
  

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 12. Company Policies & Procedures 
  
 You are required to comply with all Company policies and procedures as they apply now and in the future including any specific policy and
procedure relating to any of its subsidiaries in which you may work. It will be your responsibility to acquaint yourself with Company policies and procedures, but should you ever be in doubt regarding such, you should seek advice from your manager.
Whilst you are required to comply with Company policies, they do not form part of this agreement. 
  
 13. Conduct 
  
 The Company expects all
its employees to behave in a manner appropriate for business purposes in the conduct of their duties. Expected standards of behaviour are detailed in the attached Company Code of Conduct booklet as amended from time to time. You are required to
complete and return the Conflict of Interest Declaration form contained within the booklet. 
  
 14. Confidentiality, Intellectual Property 
  
 As part of this agreement, you are required to read, sign and return with your acceptance of this agreement, the attached Confidentiality Agreement. 
  
 15. Directorship 
  
 If as a consequence of carrying out your duties and responsibilities under this agreement you are appointed a director or other officer of any entity (whether or not related to the Company within the meaning of the
Corporations Act) or hold any property (including without limitation shares or units in a trust) on trust for the Company or any of its related entities, then upon cessation of your employment with the Company you will, unless otherwise directed by
the Company, immediately resign from such appointment and transfer and deliver to the Company or at the Company’s direction destroy such property, as the case may be. You irrevocably appoint the Company Secretary of the Company or any other
person nominated by the Company as your attorney to sign on your behalf all documents necessary to effect the resignation and transfer and delivery. 
  
 16. Termination 
  
 The Company may terminate your employment at any time by providing you with 12 months notice or the payment in lieu thereof. Should you intend to resign, you are required to provide the Company with 6 months notice.
Should you or the Company provide such notice the Company may direct you to perform only such duties as it determines to be appropriate. A lesser period of notice may apply by mutual agreement. Any payment in lieu of notice will be based on your
Total Fixed Compensation package. 
  
 The Company may terminate your employment
without notice in circumstances warranting summary dismissal. Such circumstances would include, but not be limited to: 
  

	(a)	you committing any act of dishonesty, fraud, misconduct, wilful breach of duty or Company policy, or serious and wilful neglect in the performance of your duties; or

  

	(b)	you being convicted for an offence precluding or inhibiting the further performance of your duties. 

  

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 17. Restraint 
  
 In executing this agreement you covenant and agree that you shall not during your employment or for a 12 month period thereafter on behalf of yourself or another person,
company or organisation; 
  

	(a)	Solicit or persuade any person you have dealt with on behalf of the Company or any of its subsidiaries during the last 12 months of your employment or is in the process of
negotiating with the Company, to cease doing business with the Company or any subsidiary or reduce the amount of business which the person would normally do with the Company or any subsidiary. 

  

	(b)	Induce or attempt to induce any director, manager or employee of the Company or any subsidiary to terminate his or her employment with the Company or any subsidiary, whether or not
that person would commit a breach of that person’s contract of employment. 

  

	(c)	Employ or engage in any capacity any person who has been a director, manager, employee of or consultant to the Company or any subsidiary during your employment who is or may be
likely to be in possession of any confidential information or trade secrets relating to the business of the Company or any subsidiary. 

  

	(d)	Participate, promote, assist, consult, advise or otherwise be directly or indirectly concerned with or involved in, financially or otherwise, as a director, consultant, adviser,
principal, agent, manager, employee, beneficiary, partner or associate in any general merchandise or apparel retailing business with sales turnover of greater than $1Billion, or any food or liquor retailing business with sales turnover of greater
than $1Billion, anywhere in Australia, other than a business owned or operated by the Company or a subsidiary. 

  

	(e)	Without in anyway resiling from this restraint you should be aware that upon termination the Company would be prepared to consider a waiver or limitation of these obligations
depending upon the circumstances at the time. This is not to suggest a waiver or limitation would be automatic but employees are encouraged to raise this issue upon termination. Any waiver or limitation of these obligations must be authorised in
writing by the Group General Manager of Human Resources. 

  
 18.
Restraints reasonable 
  
 You and the Company consider the restraints
contained in this clause to be reasonable and intend the restraints to operate to the maximum extent. 
  
 If these restraints: 
  

	(a)	are void as unreasonable for the protection of the interests of the Company; and 

  

	(a)	would be valid if part of the wording was deleted or the period or area was reduced. 

  
 the restraints will apply with the modifications necessary to make them effective. 
  

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 19. Restraints independent 
  
 The restraints contained within the separate paragraphs of this clause are separate, distinct and severable, so that the unenforceability of
any restraint does not affect the enforceability of the other restraints. 
  
 To
accept this offer, you must sign and return this agreement within seven days. A copy of this agreement has also been enclosed for your records. Should you require clarification or any further information, please do not hesitate to contact me.

  
 In conclusion, I look forward to continuing to work with you in a productive
and rewarding association. 
  
 Yours sincerely

  
 JOHN FLETCHER 
  

 7

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