Document:

caci-ex101_41.htm

Exhibit 10.1

SEVERANCE COMPENSATION AGREEMENT

 

 

THIS AGREEMENT is made as of the 3rd day of October, 2022, between CACI International Inc, a Delaware corporation headquartered at 12021 Sunset Hills Road, Reston, Virginia, 20190, and Jeffrey D. MacLauchlan (the “Executive”), residing at [Home Address].

 

W I T N E S S E T H:

 

WHEREAS, the Executive is employed by CACI International Inc and/or one or more of its wholly-owned subsidiaries (the “Company” or “CACI”), and the services of the Executive, his managerial experience, and his knowledge of the affairs of the Company are of great value to the Company; and 

 

WHEREAS, the Board of Directors of CACI International Inc has determined that it is in the best interests of the Company and the Executive to enter into this agreement setting forth the obligations of the Company and the Executive upon the Executive's termination of employment.

 

NOW, THEREFORE, in consideration of the mutual promises herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

	
1.
	
At-Will Employment. The Company and the Executive agree that the Executive is employed on an at-will basis.  Unless otherwise specifically provided in a written agreement signed by both the Company and the Executive, the parties understand that the Executive is employed for no fixed term or period, that either the Company or the Executive may terminate the Executive’s employment with the Company at any time with or without a reason, and that this Agreement creates no contract of employment between the Company and the Executive.

 

	
2.
	
Term.  The term of this Agreement shall be for the period from November 1, 2022 through July 30, 2023, and shall automatically renew itself for a one-year period from year-to-year thereafter.

 

	
3.
	
Death or Disability.  The Executive's employment shall terminate (without severance) automatically upon the death of the Executive.  The Company shall have the right to terminate the Executive’s employment without payment of severance on thirty (30) days written notice in the event of the Executive's Disability.  For purposes of this Agreement, “Disability” shall mean (i) if the Executive is subject to a legal decree of incompetency (the date of such decree being deemed the date on which such disability occurred), (ii) the written determination by a physician selected by the Company that, because of a medically determinable disease, injury or other physical or mental disability, the Executive is unable substantially to perform all of the services required of his position with the Company, and that such disability has lasted for the immediately preceding ninety (90) days and is, as of the date of determination, reasonably expected to last an additional ninety (90) days or 

 

		
longer after the date of determination, in each case based upon medically available reliable information, or (iii) Executive’s qualifying for benefits under the Company’s long-term disability coverage, if any. The Company’s right to terminate the Executive’s employment without payment of severance under this Paragraph shall not limit or reduce in anyway the Executive’s right to receive benefits under any disability insurance or plan maintained by the Company for the benefit of the Executive.

 

	
4.
	
Voluntary Separation (Other Than For Good Reason). The Executive shall have the right to terminate his employment with the Company on thirty (30) days written notice to the Company at any time on written notice to the Company indicating the Executive’s desire to retire or to resign from the Company’s employment.

 

	
5.
	
Termination For Cause.

 

	
 
	
(a)
	
The Board of Directors of the Company may terminate this Agreement for "Cause." For the purposes of this Agreement "Cause" shall be defined as:

 

	
 
	
(i)
	
Gross negligence, willful misconduct or willful malfeasance by the Executive in connection with the performance of any material duty for the Company;

	
 
	
(ii)
	
The Executive's continued failure, after being provided notice specifying the nature of such failure, to comply with a direction of the President and Chief Executive Officer or the Board with respect to an act, omission or failure to act on the part of the Executive; 

	
 
	
(iii)
	
A breach of the Executive's fiduciary obligations to the Company;

	
 
	
(iv)
	
A violation by the Executive of any legal requirement or obligation relating to the Company that the Board of Directors, acting in good faith, reasonably determines is likely to have a material adverse impact on the Company (unless the Executive had a reasonable good faith belief that the act, omission or failure to act in question was not a violation of such legal requirement or obligation);

	
 
	
(v)
	
The Executive’s indictment for, conviction of, or plea of guilty or nolo contendere to a felony involving theft, embezzlement, fraud, dishonesty, or any similar offense;

	
 
	
(vi)
	
Theft, embezzlement or fraud by the Executive in connection with the performance of his duties for the Company;

	
 
	
(vii)
	
A material failure to comply with any lawful direction of the President and Chief Executive Officer or Board of Directors of the Company;

	
 
	
(viii)
	
A breach of any material obligation imposed on the Executive by this Agreement;

	
 
	
(ix)
	
A material violation of the Company's Code of Ethics and Business Conduct Standard or any other published Company policy;

	
 
	
(x)
	
Any act, omission or failure to act on the part of the Executive (including an act, omission or failure to act prior to the commencement of the Executive's employment with the Company) that results in the inability of the Executive to secure or maintain security clearances necessary or 

 

	
 
		
appropriate to Executive's position with the Company and the conduct of the Company's business; and

	
 
	
(xi)
	
The misappropriation of any material business opportunity.

 

The Executive shall be given a reasonable time period and opportunity to cure any act or omission which the Board, in its reasonable judgment, determines is susceptible of cure. The action required to cure the act or omission, and the time period in which cure must be effected, shall be communicated to the Executive in writing. The Board’s delay in providing such notice shall not be deemed to be a waiver of any such Good Cause nor does the failure to terminate for one Good Cause prevent any later Good Cause termination for a similar or different reason.

 

	
6.
	
Termination Payment (Not In Connection With A Change In Control).  If, outside of six (6) months prior to or twelve (12) months following a Change in Control Date (as defined in Paragraph 7 below), the Executive’s employment is terminated by the Company for any reason other than those set forth in Paragraphs 3, 4 or 5 above, or the Executive resigns for “Good Reason” (as defined in Paragraph 7 below) within six (6) months following the initial existence of such Good Reason, then the following provisions shall apply:

 

	
 
	
(a)
	
The Company shall pay to the Executive an amount equal to twelve (12) months of the Executive's "Current Base Salary." For this purpose, the Executive's "Current Base Salary" shall be deemed to be the amount of base salary being paid to the Executive at the time of termination (or, if the Good Reason was caused by a reduction thereof, the pre-reduction amount). 

 

	
 
	
(b)
	
The Executive shall continue to participate in, and be covered under, the Company’s health care coverage for a period of six (6) months following the Executive's termination of employment (the "Medical Benefits Continuation Period") on the same basis as active senior executives of the Company.  Notwithstanding the foregoing, if the Executive accepts employment with another entity that provides health care coverage during the Medical Benefits Continuation Period, the Company shall not provide the Executive with health care coverage under this Paragraph (but the Executive shall retain any rights to continuation coverage that he may have under applicable law). For purposes of the Executive's continuation coverage rights under Section 601 et. seq. of the Employee Retirement Income Security Act, Section 4980B of the Internal Revenue Code of 1986, as amended (the "Code"), or any similar state or local law, the continuation period shall be deemed to have commenced as of the beginning of the period for which the Company has agreed to continue benefits following the Executive’s termination of employment. To the extent that the coverage provided to the Executive is taxable for federal income tax purposes, then the Executive shall pay the full cost of coverage during the Medical Benefits Continuation Period and the Company shall pay the Executive an amount equal to (i) the cost of such coverage, less any amount that would have been payable by the Executive if he were actively employed by the Company, plus (ii) an additional amount designed to cover all estimated applicable local, state and federal income and payroll taxes imposed on the Executive with 

 

	
 
		
respect to such additional payment. 

 

	
 
	
(c)
	
Before the Executive may resign for Good Reason, the Executive must provide the Company at least thirty (30) days’ prior written notice of his intent to resign for Good Reason and specify in reasonable detail the Good Reason upon which such resignation is based. The Company shall have a reasonable opportunity to cure any such Good Reason (that is susceptible of cure) within thirty (30) days after the Company’s receipt of such notice.  The Executive’s delay in providing such notice shall not be deemed to be a waiver of any such Good Reason, nor does the failure to resign for one Good Reason prevent any later Good Reason resignation for a similar or different reason.

 

	
7.
	
Termination Payment (In Connection With A Change In Control).

 

	
 
	
(a)
	
For purposes of this Agreement:

 

	
 
	
(i)
	
A "Change of Control" occurs whenever there is a change in control of the Company within the meaning of the CACI International Inc 2016 Amended and Restated Incentive Compensation Plan, as in effect on the date of this Agreement.  

	
 
	
(i)
	
The "Change of Control Date" shall be the date on which a Change of Control event is legally consummated and legally binding upon the parties.

	
 
	
(ii)
	
Prior to a Change in Control Date, “Good Reason” for the Executive’s resignation shall mean the occurrence of the following circumstance without the Executive’s prior written consent:

	
 
	
(1)
	
A material reduction in the Executive’s base salary, target bonus and benefit opportunity (other than a reduction made by the Board, acting in good faith, based upon the performance of the Executive, or to align the compensation and benefits of the Executive with that of comparable executives, based on market data. 

	
 
	
(iii)
	
Following a Change in Control Date, “Good Reason” for the Executive’s resignation shall also include the occurrence of any of the following circumstances without the Executive’s prior written consent:

	
 
	
(1)
	
A material reduction in the nature or status of the Executive’s position or responsibilities from those in effect on the day before the Change in Control Date; or

	
 
	
(2)
	
A change in the geographic location of the Executive’s job more than fifty (50) miles from the place at which such job was based on the day before the Change in Control Date.

 

	
 
	
(b)
	
If, within six (6) months before or twelve (12) months following a Change in Control, the Executive resigns for Good Reason, or the Executive’s employment is terminated for any reason other than the reasons set forth in Paragraphs 3, 4 or 5 above, then the Company shall pay to the Executive the following amounts:

 

	
 
	
(i)
	
An amount equal to twenty-four (24) months of the Executive's Current Base Salary (as defined in Paragraph 6 above).

 

	
 
		

	
 
	
(ii)
	
A prorated portion of the cash incentive otherwise payable to the Executive for the fiscal year of termination under the annual incentive or bonus plan maintained by the Company for its senior executives (the "Annual Bonus Plan") (or any replacement bonus or incentive arrangement covering the Executive). Such amount shall be determined based on Company performance consistent with the cash incentive paid under the Annual Bonus Plan to comparable active executives in good standing who meet expectations and remained on the payroll and eligible for a bonus. The amount payable shall be determined by multiplying the cash incentive that the Executive would have received had his employment not terminated, by a fraction, the numerator of which is the number of months in the fiscal year during which Executive was employed (including the month in which the termination occurs) and the denominator of which is twelve.

	
 
	
(iii)
	
A cash lump sum amount equal to one-and-one-half (1.5) times the average cash incentive actually paid to the Executive under the Annual Bonus Plan for the five (5) fiscal years immediately preceding the year of termination, or one-and-one-half (1.5) times the Executive’s target bonus if such termination occurs before a bonus representing one full fiscal year has been determined and paid to the Executive, or one-and-one-half (1.5) times the Executive’s average annual bonus if such termination occurs more than one year after a bonus representing one full fiscal year has been determined and paid to the Executive but less than five years after bonuses representing five full fiscal years have been determined and paid to the Executive.

 

	
 
	
(c)
	
In addition, the Executive shall continue to participate in, and be covered under, the Company’s health care coverage in accordance with (and subject to the limitations imposed by) Paragraph 6(b).

 

	
 
	
(d)
	
The ability of the Executive to resign for Good Reason shall be subject to the notice and opportunity to cure provisions contained in Paragraph 6(c). 

 

	
8.
	
Payment of Other Compensation.  In addition to any payment due the Executive pursuant to Paragraphs 6 or 7, at the time of termination of the Executive's employment, the Executive shall be paid all other compensation and benefits that may be due or provided to the Executive in accordance with the terms and conditions of any applicable plan, policy or arrangement governing the payment of such compensation or benefits.

 

	
9.
	
Maximum Benefit Payable. Notwithstanding anything in this Agreement to the contrary, in the event that the severance and other benefits provided for in this Agreement or otherwise payable to the Executive (i) constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended and (ii) but for this provision, would be subject to the excise tax imposed by Section 4999 of the Code, then such severance and other benefits shall be payable either (i) in full or (ii) as to such lesser amount that would result in no portion of such severance and other benefits being subject to the excise tax under Section 4999 of the Code, whichever of the foregoing amounts, 

 

		
taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by the Executive on an after-tax basis, of the greatest amount of severance benefits under this Agreement or otherwise, notwithstanding that all or some portion of such severance benefits may be taxable under Section 4999 of the Code. To the extent any of such severance benefits are “deferred compensation” within the meaning of Section 409A of the Code, any reduction shall be made in the following manner: first a pro rata reduction of (i) cash payments subject to Section 409A of the Code as deferred compensation and (ii) cash payments not subject to Section 409A of the Code, and second a pro rata cancellation of (x) equity-based compensation subject to Section 409A of the Code as deferred compensation and (y) equity-based compensation not subject to Section 409A of the Code; provided that reduction in either cash payments or equity compensation benefits shall be made pro rata between and among benefits that are subject to Section 409A of the Code and benefits that are exempt from Section 409A of the Code. Any determination required under this provision shall be made in writing by the Company, whose determination shall be conclusive and binding upon the Executive and the Company for all purposes. For purposes of making the calculations required by this provision, the Company may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code.

 

	
10.
	
Timing of Payment. 

 

	
 
	
(a)
	
The compensation payable in accordance with Paragraph 6(a) or 7(b)(i) and (iii) shall be paid in a lump sum within thirty days following the Executive's termination of employment.

 

	
 
	
(b)
	
The compensation payable in accordance with Paragraph 7(b)(ii) shall be paid in a lump sum on the date on which the Company pays bonuses for the fiscal year of termination to actively employed senior executives; provided, however, in no event shall such payment be made more than 21⁄2 months following the close of the fiscal year of the Company to which such bonus relates. 

 

	
 
	
(c)
	
Any additional amount payable in accordance with Paragraph 6(b) shall be paid to the Executive in cash, on a monthly basis, at the same time that the underlying medical coverage benefit is provided to the Executive.  In determining the amount of such payment the Executive shall be deemed to pay federal income tax at the highest marginal rate applicable to individuals in the calendar year in which the payment is made and to pay state and local income taxes at the highest effective rate in the state or locality in which such payment is taxable. All payments made under Paragraph 6(b) shall be made in accordance with the provisions of Treas. Reg. §1.409A-3(i)(1).

 

	
11.
	
Employee Agreement.  This agreement incorporates by reference the Employee Agreement between the Executive and the Company, a copy of which is attached hereto.  The payments and benefits provided to the executive under this Agreement are further 

 

		
consideration for the Executive's compliance with each and every term of the Employee Agreement and such compliance is a condition precedent to the Executive's entitlement to any payment or benefit hereunder. The covenants, restrictions and terms of this Agreement are intended to supplement, and do not supersede, the covenants, restrictions and terms of the Employee Agreement.  To the extent any covenant, restriction or term of this Agreement is more restrictive than a similar covenant, restriction or term of the Employee Agreement, the covenant, restriction or term of this Agreement shall control. To the extent any covenant, restriction or term of the Employee Agreement is more restrictive than a similar covenant, restriction or term of this Agreement, the covenant, restriction or term of the Employee Agreement shall control.

 

	
12.
	
Affiliations.  The Executive shall avoid diluting his energies by engaging in outside commitments to other companies or organizations that require efforts that, either directly or indirectly, reduce the focus, concentration and amount of time Executive devotes to CACI.  Therefore, with the exception of membership with professional/industry associations that directly relate to Executive’s job, and that do not have leadership responsibilities, and participation with not for profit charitable or community service entities whose primary activities take place outside of normal working hours, Executive shall not be affiliated with any entities outside of CACI without first receiving approval from the Corporate Governance and Nominating Committee of the Company’s Board of Directors.

 

	
13.
	
Non-Competition.  The terms of this Paragraph are intended to supplement (and are in addition to) the non-compete provisions contained in the Employee Agreement.

 

	
 
	
(a)
	
The Executive understands and agrees that this non-compete restriction is aimed at protecting CACI’s relationship with its current and prospective clients, as such clients are specifically named in written proposals, contracts and task orders (collectively, these are referred to as “CACI Clients”).  The Executive understands and agrees that the definition of CACI Clients as used in this Agreement is intended to cover the specific program offices or activities which CACI pursues, or for which CACI performs work, within large governmental departments, such as the Department of the Navy or the Army, not the greater department in general.

 

	
 
	
(b)
	
The Executive agrees that CACI may reasonably protect its relationships with CACI Clients by prohibiting the Executive from competing with CACI for work with: (i) any CACI Clients while the Executive is employed by CACI, and (ii) certain CACI Clients for a reasonable period of time following termination of the Executive’s CACI employment.

 

	
 
	
(c)
	
During the Executive’s employment with CACI, the Executive will not directly or indirectly sell, market or otherwise provide goods or services to any CACI Clients in competition with CACI.

 

	
 
	
(d)
	
For a period of two (2) years following termination of the Executive’s employment, the Executive will not directly or indirectly provide goods or services to CACI Clients when such goods or services are in competition with those goods or services (i) provided within the year prior to termination of the Executive’s employment under contract or task order, or (ii) offered pursuant to a formal or informal proposal, to CACI Clients by any CACI organizational unit for which the Executive worked or for which the Executive had responsibility within one (1) year prior to the termination of the Executive’s employment.

 

	
 
		

 

	
 
	
(e)
	
During the Executive’s employment with CACI and for a period of two (2) years following termination of that employment, the Executive will not participate in competition for the award of any contract or task order for which any CACI organizational unit for which the Executive worked or for which the Executive had responsibility within one (1) year prior to the end of the Executive’s CACI employment is competing.

 

	
 
	
(f)
	
During the Executive’s employment and for a period of two (2) years following termination of that employment, the Executive will not, directly or indirectly interfere with, disparage or damage, or attempt to interfere with, disparage or damage, the Company’s reputation, or any relationship between the Company or its affiliated or subsidiary companies and any other entity.

 

	
 
	
(g)
	
The Executive agrees not to hire or solicit for hiring, directly or indirectly any person now or hereafter employed by, or providing services as a subcontractor or consultant to, CACI and its affiliate companies, for a period of two (2) years after termination of employment.

 

	
 
	
(h)
	
The Executive understands and agrees that the payments made under this Agreement constitute additional consideration for the Executive’s performance of the covenants set forth in this Paragraph 12 and in the Employee Agreement. 

 

	
14.
	
No Disparaging Comments.  During his period of employment and at all times thereafter, the Executive shall refrain from making any disparaging remarks about the businesses, services and products of the Company, its subsidiaries and affiliates, as well as their respective officers, directors, executives, managers, stockholders, employees, agents, or representatives.  Notwithstanding the foregoing, this Agreement does not in any way restrict or impede the Executive from exercising protected rights, including rights under the National Labor Relations Act or the federal securities laws, including the Dodd-Frank Act to the extent that such rights cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an authorized government agency, provided that such compliance does not exceed that required by the law, regulation, or order.

 

	
15.
	
Release.  In consideration of any payment made to the Executive pursuant to Section 6 or Section 7 of this Agreement (and as a condition precedent to the Executive's right to any such payment), the Executive must execute (and not revoke) a release of claims in form provided 

 

		
by the Company.

 

	
16.
	
Assignment.  By reason of the special and unique nature of the obligations hereunder, it is agreed that neither party hereto may assign any interests, rights or duties which the party may have in this Agreement without the prior written consent of the other party, except that upon any “Change in Control,” this Agreement shall inure to the benefit of and be binding upon the Executive and the purchasing, surviving or resulting entity, company or corporation in the same manner and to the same extent as though such entity, company or corporation were the Company.  

 

	
17.
	
Dispute Resolution.  

 

	
 
	
(a)
	
Except as provided in subsection (b) below, the Company and the Executive agree that any controversy or claim arising out of or relating to this Agreement, or its breach by the Company shall be resolved by arbitration.  This arbitration shall be held in Reston, Virginia in accordance with the model employment arbitration procedures of the American Arbitration Association.  Judgment upon award rendered by the arbitrator shall be binding upon both parties and may be entered and enforced in any court of competent jurisdiction.

 

	
 
	
(b)
	
The Executive acknowledges and agrees that notwithstanding subsection (a) above, if the Executive breaches any of the provisions of Paragraph 12 hereof, the Company will suffer immediate and irreparable harm for which monetary damages alone will not be a sufficient remedy, and that, in addition to all other remedies that the Company may have, the Company shall be entitled to seek injunctive relief, specific performance or any other form of equitable relief to remedy a breach or threatened breach of Paragraph 12 by the Executive and to enforce the provisions of this Agreement.  The existence of this right shall not preclude or otherwise limit the applicability or exercise of any other rights and remedies which the Company may have at law or in equity.  

 

	
18.
	
Amendments.  No provision of this Agreement may be amended, modified, waived or discharged unless such amendment, waiver, modification or discharge is agreed to in a writing signed by the Executive and the Company. No waiver by either party of any breach or failure to comply with any condition or provision of this Agreement by the other party at any time shall be deemed a waiver of any other breach or failure to comply with the conditions or provisions of this Agreement. No agreements or representations, oral or otherwise, expressed or implied, concerning the subject matter hereof have been made by either party which are not set forth expressly in this Agreement. 

 

	
19.
	
Entire Agreement.  This Agreement constitutes the entire understanding and agreement between the Company and the Executive with regard to all matters herein. It supersedes and replaces any and all prior agreements written or oral between the Company and the Executive concerning the severance benefits that may be payable to the Executive.

 

 

 

	
20.
	
Compliance with Section 409A.  Paragraphs 6(a) and 7(b)(i), (ii) and (iii) of this Agreement are intended to constitute a separation pay arrangement that does not provide for the deferral of compensation subject to Section 409A of the Code (under the short-term deferral exception contained in Treas. Reg. §1.409A-1(b)(4)) and, if any provision of Paragraphs 6 and 7(b)(i), (ii) or (iii) are subject to more than one interpretation or construction, such ambiguity shall be resolved in favor of that interpretation or construction which is consistent with such provisions not being subject to the provisions of Section 409A.  The provisions of Paragraphs 6(b) and 8 are intended to comply with the provisions of Section 409A of the Code (to the extent applicable) and, to the extent that Section 409A applies to Paragraph 6(b) or 8 (or any provision of this Agreement) and such provision is subject to more than one interpretation or construction, such ambiguity shall be resolved in favor of that interpretation or construction which is consistent with the provision complying with the provisions of Section 409A of the Code (including, but not limited to the requirement that any payment made on account of the Executive's separation from service (within the meaning of Section 409A(a)(2)(A)(i) of the Code and the regulations issued thereunder) ("Separation from Service"), shall not be made earlier than the first business day of the seventh month following the Executive's Separation from Service, or if earlier the date of death of the Executive.  Any payment that is delayed in accordance with the foregoing sentence shall be made on the first business day following the expiration of such six (6) month period.

 

	
21.
	
Tax Consequences of Payments. All payments hereunder are subject to all applicable withholding taxes.  The Executive understands and agrees that the Company makes no representations as to the tax consequences of any compensation or benefits provided hereunder (including, without limitation, under Section 409A of the Code, if applicable).  Executive is solely responsible for any and all income, excise or other taxes imposed on Executive with respect to any and all compensation or other benefits provided to Executive.

 

	
22.
	
Governing Law.  This Agreement shall be construed and enforced in accordance with the laws of the Commonwealth of Virginia without regard to its principles of conflicts of laws.

 

	
23.
	
Notices. For purposes of this Agreement, notices and communications hereunder shall be in writing and shall be deemed properly given and effective when received, if sent by facsimile or telecopy, or by postage prepaid by registered or certified mail, return receipt requested, or by other delivery service which provides evidence of delivery, as follows:

 

If to the Company:

 

CACI International Inc

12021 Sunset Hills Road 

Reston, Virginia 20190 

Attention: General Counsel

 

 

 

If to the Executive:

 

Jeffrey D. MacLauchlan

[Home Address]

 

or such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt.

 

	
24.
	
Enforceability.  The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.

 

	
25.
	
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

 

	
26.
	
Initials.  Each page of this Agreement shall be initialed and dated by the Executive and the official signing for and on behalf of the Company.

 

 

IN WITNESS WHEREOF the parties have executed this Agreement to be effective the day and year first above written.

 

 

		
	
CACI International Inc                                                       
	
Jeffrey D. MacLauchlan

 

	
 
	
 

	
By: /s/ J. William Koegel Jr.   

J. William Koegel, Jr.

Executive Vice President,

   General Counsel & Secretary

 
	
/s/ Jeffrey D. MacLauchlanEX-4.1

 Exhibit 4.1 

ATMOS ENERGY CORPORATION 

Officers’ Certificate Pursuant to Section 301 of the Indenture 

October 3, 2022 
 Each of
the undersigned, Daniel M. Meziere, Vice President of Investor Relations and Treasurer, and Karen E. Hartsfield, Senior Vice President, General Counsel and Corporate Secretary of Atmos Energy Corporation (the “Company”) certifies, pursuant
to the authority delegated to each of them, as an officer of the Company, pursuant to the resolutions adopted by the board of directors of the Company (the “Board”) on August 2-3, 2022 (copies of
which resolutions are attached hereto as Exhibit I), that pursuant to Section 301 of the Indenture dated as of March 26, 2009 (the “Indenture”) between the Company and U.S. Bank National Association, as trustee (the
“Trustee”), two series of debt securities of the Company are hereby established with the following terms and provisions (unless otherwise defined herein, capitalized terms used herein have the meaning given thereto in the Indenture): 

1.    The titles of the series of the securities to be issued are the 5.450% Senior Notes due 2032 (the
“2032 Notes”) and the 5.750% Senior Notes due 2052 (the “2052 Notes” and, together with the 2032 Notes, the “Notes”). 

2.    The Notes are unsubordinated and will rank equally with all of the Company’s other unsecured and
unsubordinated debt. Subordinated debt will rank junior to the Notes and the Company’s other senior debt. 

3.    The aggregate principal amount of the 2032 Notes that initially may be issued under the Indenture, in
connection with the Underwriting Agreement, dated as of September 27, 2022, among the Company and certain underwriters named therein, is $300,000,000, and the Stated Maturity of the 2032 Notes is October 15, 2032. The 2032 Notes shall be
offered to the public at a price representing 99.776% of their principal amount. 
 4.    The aggregate
principal amount of the 2052 Notes that initially may be issued under the Indenture, in connection with the Underwriting Agreement, dated as of September 27, 2022, among the Company and certain underwriters named therein, is $500,000,000, and
the Stated Maturity of the 2052 Notes is October 15, 2052. The 2052 Notes shall be offered to the public at a price representing 99.586% of their principal amount. 

5.    The 2032 Notes shall bear interest at the rate of 5.450% per annum. Interest on the 2032 Notes will
be payable in arrears on April 15 and October 15 of each year (each, an “Interest Payment Date”), beginning April 15, 2023. Interest payable on each Interest Payment Date will include interest accrued from and including
October 3, 2022, or from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, as the case may be, to but excluding such Interest Payment Date. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be
paid to the Holder in whose 

 
name the 2032 Notes are registered at the close of business on the April 1 or October 1 (whether or not a Business Day) preceding the respective Interest Payment Date. The payment of
any Defaulted Interest on the 2032 Notes shall be payable to the Holders of the 2032 Notes on a Special Record Date established therefor pursuant to the Indenture, or shall be paid at any time in any other lawful manner, all as more fully provided
in the Indenture. 
 6.    The 2052 Notes shall bear interest at the rate of 5.750% per annum. Interest
on the 2052 Notes will be payable in arrears on April 15 and October 15 of each year (each, an “Interest Payment Date”), beginning April 15, 2023. Interest payable on each Interest Payment Date will include interest accrued
from and including October 3, 2022, or from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, as the case may be, to but excluding such Interest Payment Date. Interest will be computed on
the basis of a 360-day year of twelve 30-day months. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in
the Indenture, be paid to the Holder in whose name the 2052 Notes are registered at the close of business on the April 1 or October 1 (whether or not a Business Day) preceding the respective Interest Payment Date. The payment of any
Defaulted Interest on the 2052 Notes shall be payable to the Holders of the 2052 Notes on a Special Record Date established therefor pursuant to the Indenture, or shall be paid at any time in any other lawful manner, all as more fully provided in
the Indenture. 
 7.    Payment of the principal of (and premium, if any) and interest on the Notes will
be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City of New York, or at such other office or agency of the Company as may be maintained for such purpose, in such coin or currency of the
United States of America as at the time of payment is legal tender for payment of public and private debts. So long as the Notes remain in book-entry form, all payments of principal and interest will be made by the Company in immediately available
funds. 
 8.    Prior to the applicable Par Call Date (as defined below), the Company may, at its option,
redeem the Notes of each series, in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of : 

(1)(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date
(assuming the Notes of such series being redeemed matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at
the Treasury Rate plus 25 basis points, in the case of the 2032 Notes, and 30 basis points, in the case of the 2052 Notes, less (b) interest accrued to the Redemption Date, and 

(2) 100% of the principal amount of the Notes of the series to be redeemed; 

  
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 plus, in each case, accrued and unpaid interest on the principal amount of the Notes of such
series being redeemed to the applicable Redemption Date. 
 On or after the applicable Par Call Date, the Company may, at its
option, redeem Notes of each series, in whole or in part, at any time and from time to time, at a Redemption Price equal to 100% of the principal amount of the Notes of such series being redeemed plus accrued and unpaid interest thereon, if any, to,
but not including, the applicable Redemption Date. 
 “Par Call Date” means July 15, 2032, for the 2032 Notes,
and April 15, 2052, for the 2052 Notes. 
 “Treasury Rate” means, with respect to any Redemption Date, the
yield determined by the Company in accordance with the following two paragraphs. 
 The Company shall determine the Treasury
Rate after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third Business Day preceding the Redemption Date based upon the
yield or yields for the most recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily) - H.15”
(or any successor designation or publication) (“H.15”) under the caption “U.S. government securities–Treasury constant maturities–Nominal” (or any successor caption or heading) (“H.15 TCM”). In determining the
Treasury Rate, the Company shall select, as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the Redemption Date to the applicable Par Call Date (the “Remaining Life”); or
(2) if there is no such Treasury constant maturity on H.15 exactly equal to the Remaining Life, the two yields – one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the
Treasury constant maturity on H.15 immediately longer than the Remaining Life – and shall interpolate to the applicable Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three
decimal places; or (3) if there is no such Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this
paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the Redemption Date. 

If on the third Business Day preceding the Redemption Date H.15 TCM is no longer published, the Company shall calculate the
Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding such Redemption Date of the United States Treasury security maturing on, or with
a maturity that is closest to, the applicable Par Call Date, as applicable. If there is no United States Treasury security maturing on the applicable Par Call Date but there are two or more United States Treasury securities

  
 3 

 
with a maturity date equally distant from the applicable Par Call Date, one with a maturity date preceding the applicable Par Call Date and one with a maturity date following the applicable Par
Call Date, the Company shall select the United States Treasury security with a maturity date preceding the applicable Par Call Date. If there are two or more United States Treasury securities maturing on the applicable Par Call Date or two or more
United States Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among these two or more United States Treasury securities the United States Treasury security that is trading closest to par based upon
the average of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the
applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three
decimal places. 
 The Company’s actions and determinations in determining the Redemption Price shall be conclusive and
binding for all purposes, absent manifest error. 
 9.    In the case of a partial redemption of the
Notes of a series, selection of the Notes of such series for redemption will be made pro rata, by lot or by such other method as the Trustee in its sole discretion deems appropriate and fair. No Notes of either series of a principal amount of $2,000
or less will be redeemed in part. If any Note of either series is redeemed in part only, the notice of redemption that relates to such Note will state the portion of the principal amount of such Note to be redeemed. A new Note in a principal amount
equal to the unredeemed portion of the Note of the series to be redeemed will be issued in the name of the holder of such Note upon surrender for cancellation of the original Note. For so long as the Notes of the series to be redeemed are held by
DTC (or another Depository), the Redemption of such Notes shall be done in accordance with the policies and procedures of the Depository. Notice of any Redemption will be mailed or electronically delivered (or otherwise transmitted in accordance
with the Depository’s procedures) at least 10 days but not more than 60 days before the Redemption Date to each holder of Notes of the series to be redeemed. Unless the Company defaults in payment of the applicable Redemption Price, on or after
the applicable Redemption Date, interest will cease to accrue on the Notes of the series to be redeemed or portions thereof called for Redemption. 

10.    Section 703 of the Indenture is replaced with the following in its entirety for purposes of the
Notes only: 
 The Company shall: 

(1)    file with the Trustee, within 30 days after the Company has filed the same with the Commission,
unless such reports are available on the Commission’s EDGAR filing system (or any successor thereto), copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the
Commission may from time to time by rules and regulations prescribe), which the Company may be required to file with the Commission pursuant to Section 13 

  
 4 

 
or Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of such Sections, then the Company shall file with the
Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of the
Exchange Act in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 

(2)    file with the Trustee and the Commission, in accordance with rules and regulations prescribed from
time to time by the Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and

 (3)    transmit to all Holders, as their names and addresses appear in the Security Register, within
30 days after the filing thereof with the Trustee, in the manner and to the extent provided in TIA Section 313(c), such summaries of any information, documents and reports required to be filed by the Company pursuant to Subsections (1) and
(2) of this Section 703 as may be required by rules and regulations prescribed from time to time by the Commission. 

11.    The Company has no obligation to redeem, purchase or repay the Notes of any series pursuant to any
mandatory redemption or sinking fund or analogous provisions or at the option of the Holder thereof. 

12.    The entire principal amount of the Notes of a series shall be payable upon declaration of
acceleration of the Maturity of the Notes of such series pursuant to the Indenture. 
 13.    The
defeasance and covenant defeasance provisions of Article Fourteen of the Indenture shall apply to each series of the Notes. 

14.    The Trustee, the initial Paying Agent and the initial Security Registrar for the Notes shall be U.S.
Bank Trust Company, National Association, as successor in interest to U.S. Bank National Association. The Security Register for the Notes shall be initially maintained at, and the place where such Notes may be surrendered for registration of
transfer or exchange shall be, the Trustee’s Corporate Trust Office located at 2 Concourse Parkway, Suite 800, Atlanta, GA, 30328-5588. 

15.    The Notes will be issued in registered permanent global form and each evidenced by a global security
(together, the “Global Securities”) in substantially the forms attached hereto as Exhibit II-A and Exhibit II-B, with such appropriate
insertions, omissions, substitutions and other variations as are required or permitted by the Indenture, and may have imprinted or otherwise reproduced thereon such legend or legends or endorsements, not inconsistent with the provisions of the
Indenture, as may be required to comply with any law or with any rules or regulations pursuant thereto, or with any rules of any securities exchange or to conform to general usage, all as may be 

  
 5 

 
determined by the officers executing each such Global Security, as evidenced by their execution of such Global Security. The beneficial owners of interests in each of the Global Securities may
exchange such interests for Notes of such series in certificated form (the “Definitive Notes”) only in limited circumstances as provided in the Indenture. In the event that Definitive Notes are issued in exchange for a Global Security, the
form of certificate evidencing each Definitive Note shall be in substantially the form of the attached Global Securities, with such changes as are necessary to evidence the Notes in definitive form rather than as a Global Security. The Company
initially appoints DTC to act as Depository with respect to the Notes. 
 16.    The Notes are issuable
in denominations of $2,000 and any integral multiples of $1,000 in excess thereof. 
 17.    The Events
of Default set forth in the Indenture shall apply to the Notes. 
 18.    The Company will not pay
Additional Amounts on the Notes held by any Holder who is not a United States person in respect of any tax, assessment or governmental charge withheld or deducted. 

19.    The Company may, at any time, without the consent of the Holders of the Notes of the applicable
series, create and issue additional securities having the same ranking, interest rate, maturity and other terms as the Notes of such series. Any such additional securities shall be consolidated and form the same series of the Notes of the applicable
series, having the same terms as to status, redemption and otherwise as the Notes of the applicable series under the Indenture. 
 Each of
us further certifies that the forms and terms of the Notes of each series as established in this certificate have been established pursuant to Section 301 of the Indenture and comply with the Indenture. 

[Signature page follows] 

  
 6 

 IN WITNESS WHEREOF, I have executed this certificate as of the date first written above.

  

			
	By:	 	 /s/ Daniel M. Meziere

		 	 Name:  Daniel M. Meziere

		 	 Title:   Vice President of Investor Relations and Treasurer

 IN WITNESS WHEREOF, I have executed this certificate as of the date first written above. 

 

			
	By:	 	 /s/ Karen E. Hartsfield

		 	 Name:  Karen E. Hartsfield

		 	 Title:   Senior Vice President, General Counsel and Corporate
Secretary

 Officers’ Certificate Pursuant to Section 301 of the Indenture

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