Document:

EX-10.2

 Exhibit 10.2 

 
  
 

 
 COMPX INTERNATIONAL INC. 

2012 DIRECTOR STOCK PLAN 

Section 1. Purpose. The purpose of this Plan is to advance the interests of CompX and its
stockholders by providing incentives to its directors to contribute to the strategic and long-term performance objectives and growth of CompX. 
 Section 2. Definitions. The following terms shall have the meanings indicated: 
 (a) “Board” shall mean the board of directors of CompX. 
 (b) “Class A Common Shares” shall mean shares of class A common stock, par value $0.01 per share, of CompX and stock of any other class into which such shares may thereafter be
changed. 
 (c) “Code” shall mean the Internal Revenue Code of 1986, as it now exists or
may be amended from time to time, and the rules and regulations promulgated thereunder, as they may exist or may be amended from time to time. 
 (d) “Committee” shall mean a committee of the Board, if any, designated by the Board to administer this Plan that is comprised of not fewer than two directors and shall initially
mean the management, development and compensation committee of the Board. The membership of the Committee or any successor committee (i) shall consist of “nonemployee directors” (as defined in Rule 16b-3) and meet any other applicable
requirements so as to comply at all times with the applicable requirements of Rule 16b-3, (ii) shall consist of “outside directors” (as defined in Treasury Regulation §1.162-27(e)(3)(i) or any successor regulation) and meet any
other applicable requirements so as to comply at all times with the applicable requirements of Section 162(m) and (iii) shall meet any applicable requirements of any stock exchange or other market quotation system on which Class A
Common Shares are listed or traded. References to the Committee hereunder shall include the Board where appropriate. 
 (e) “Company” shall mean CompX and any parent or privately held subsidiary of CompX. 
 (f) “CompX” shall mean CompX International Inc., a Delaware corporation and any of its privately held subsidiaries. 

(g) “Effective Date” shall mean May 30, 2012. 

(h) “Exchange Act” shall mean the Securities Exchange Act of 1934, as it now exists
or may be amended from time to time, and the rules promulgated thereunder, as they may exist or may be amended from time to time. 
 (i) “Director” shall mean a member of the board of directors of CompX at such time. 
 (j) “Grant” shall mean a grant of Class A Common Shares to a Director under this Plan. 
 (k) “Plan” shall mean this CompX International Inc. 2012 Director Stock Plan, as it may be amended from time to time. 

(l) “Rule 16b-3” shall mean Rule 16b-3 promulgated by the U.S. Securities and Exchange Commission
under the Exchange Act and any successor rule. 
 (m) “Section 162(m)” shall mean
§162(m) of the Code, any rules or regulations promulgated thereunder, as they may exist or may be amended from time to time, or any successor to such section. 

  
 Page 1 of 4

			
	

 	 	 COMPX INTERNATIONAL INC.
 2012 Director Stock Plan
 May 30, 2012

 

 (n) “Treasury Regulation” shall mean a final,
proposed or temporary regulation of the U.S. Department of Treasury under the Code and any successor regulation. 

Section 3. Administration. Unless the Board shall designate itself, this Plan shall be
administered by the Committee. 
 The Committee has all the powers vested in it by the terms of this Plan. Such powers shall
include the exclusive authority to select the Directors to receive Grants under this Plan, and to determine the number of Class A Common Shares granted, the time of the Grants to be made to each Director selected and the terms and conditions
(if any) associated with the Grants. The Committee is authorized to interpret this Plan and to make any other determinations that it deems necessary or desirable for the administration of this Plan. The Committee may correct any defect or supply any
omission or reconcile any inconsistency in this Plan or in any Grant in the manner and to the extent the Committee deems necessary or desirable to carry it into effect. Any decision of the Committee in the interpretation and administration of this
Plan, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned. The Committee may act only by a majority of its members, except that the members thereof may
authorize any one or more of their members or any officer of CompX to execute and deliver documents or to take any other ministerial action on behalf of the Committee with respect to Grants. 

No member of the Committee and no officer of the Company shall be liable for anything done or omitted to be done by him or her, by any
other member of the Committee or by any officer of the Company in connection with the performance of duties under this Plan, except for his or her own willful misconduct or as expressly provided by statute. In addition to all other rights of
indemnification and reimbursement to which a member of the Committee and an officer of the Company may be entitled, the Company shall indemnify and hold harmless each such member or officer who was or is a party or is threatened to be made a party
to any threatened, pending or completed proceeding or suit in connection with the performance of duties under this Plan against expenses (including reasonable attorneys’ fees), judgments, fines, liabilities, losses and amounts paid in
settlement actually and reasonably incurred by him or her in connection with such proceeding or suit, except for his or her own willful misconduct or as expressly provided otherwise by statute. Expenses (including reasonable attorneys’
fees) incurred by such a member or officer in defending any such proceeding or suit shall be paid by the Company in advance of the final disposition of such proceeding or suit upon receipt of a written affirmation by such member or officer of his or
her good faith belief that he or she has met the standard of conduct necessary for indemnification and a written undertaking by or on behalf of such member or officer to repay such amount if it shall ultimately be determined that he or she is not
entitled to be indemnified by the Company as authorized in this Section. 
 Section 4. Grants of
Class A Common Shares under this Plan. 
 (a) Maximum Number of Shares that May be
Issued. There may be issued under this Plan an aggregate of not more than 200,000 Class A Common Shares, subject to adjustment as provided in Section 5. Class A Common Shares issued pursuant to this Plan may be either
authorized but unissued shares, treasury shares or any combination thereof. The number of Class A Common Shares that may be issued to a Director under this Plan may not exceed 10,000 shares in any calendar year. 

(b) Conditions for Receipt of Grant. Entitlement to a Grant shall be conditioned upon achieving
specified Company performance goals for a given performance period based on the closing price per share on the NYSE Amex Exchange (or any other stock exchange or market quotation system on which Class A Common Shares are listed or traded) for
the period specified by the Committee. The Committee shall, from time to time, designate the performance goals, which shall be documented in writing, and, for any performance period, must be established no later than ninety (90) days after the
commencement of such performance period. 
 (c) Rights with Respect to Class A Common Shares and
Other Securities. Except as provided in Section 5, no adjustment shall be made for dividends, distributions or other rights (whether ordinary or extraordinary, and whether in cash, securities, other property or other forms of
consideration, or any combination thereof) for which the record date is prior to the date such stock certificate or other instrument of ownership, if any, is issued. In all events, a Director who receives a Grant shall have no rights as a
stockholder with respect to such Class A Common Shares represented by such Grant until the issuance to him or her of a stock certificate representing such shares. 

  
 Page 2 of 4

			
	

 	 	 COMPX INTERNATIONAL INC.
 2012 Director Stock Plan
 May 30, 2012

 

 Section 5. Dilution and Other Adjustments. In
the event of any change in the outstanding Class A Common Shares by reason of any stock split, stock dividend or other extraordinary or unusual event, if the Committee shall determine, in its discretion, that such change equitably requires an
adjustment to the maximum number of Class A Common Shares available for issuance (i) under this Plan or (ii) to any one Director under this Plan in any one calendar year, such adjustments may be made by the Committee and shall be
final, conclusive and binding for all purposes of this Plan. 
 Section 6. Miscellaneous
Provisions. 
 (a) No fractional shares may be delivered under a Grant, but in lieu thereof
a cash or other adjustment shall be made as determined by the Committee in its discretion. 
 (b)
Determinations made by the Committee under this Plan need not be uniform and may be made selectively among Directors, whether or not such Directors are similarly situated. Such determinations shall include the right to exercise discretion to
reduce prior to its grant date the amount of a Grant made to any Director; provided, however, the exercise of discretion shall not have the effect of increasing any Grant that is payable to any Director. 

(c) No Director or other person shall have any claim or right with respect to this Plan, the Class A Common
Shares reserved for issuance under this Plan or in any Grant, contingent or otherwise, until the Class A Common Shares represented by such Grant shall have been delivered to the recipient and all the terms, conditions and provisions of this
Plan and the Grant applicable to such recipient (and each person claiming under or through him or her) have been met. 
 (d) No Class A Common Shares shall be issued hereunder with respect to any Grant unless counsel for CompX shall be satisfied that such issuance will be in compliance with applicable law and
any applicable rules of any stock exchange or other market quotation system on which Class A Common Shares are listed or traded. 
 (e) It is the intent of CompX that this Plan comply in all respects with Rule 16b-3 and Section 162(m) with respect to Grants, that any ambiguities or inconsistencies in construction of this
Plan be interpreted to give effect to such intention and that if any provision of this Plan is found not to be in compliance with Rule 16b-3 or Section 162(m), such provision shall be deemed null and void with respect to Grants granted to
executive officers of CompX to the extent required to permit such Grants to comply with Rule 16b-3 and Section 162(m). 
 (f) The expenses of this Plan shall be borne by CompX; provided, however, CompX may recover from a Director or his or her heirs or assigns any and all damages, fees, expenses and costs
incurred by CompX arising out of any actions taken by a Director in breach of this Plan. 
 (g) By
accepting any Grant or other benefit under this Plan, each Director and each person claiming under or through him or her shall be conclusively deemed to have indicated his or her acceptance and ratification of, and consent to, any action taken under
this Plan by CompX, the Board or the Committee. 
 (h) The appropriate officers of CompX shall cause to be
filed any reports, returns or other information regarding Grants hereunder of any Class A Common Shares issued pursuant hereto as may be required by applicable law and any applicable rules of any stock exchange or other market quotation system
on which Class A Common Shares are listed or traded. 
 (i) The validity, construction,
interpretation, administration and effect of this Plan, and of its rules and regulations, and rights relating to this Plan and to Grants under this Plan, shall be governed by the substantive laws, but not the choice of law rules, of the state of
Delaware. 

  
 Page 3 of 4

			
	

 	 	 COMPX INTERNATIONAL INC.
 2012 Director Stock Plan
 May 30, 2012

 

 (j) Records of CompX shall be conclusive for all purposes under
this Plan or any Grant, unless determined by the Committee to be incorrect. 
 (k) If any provision of
this Plan or any specific Grant is held to be illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining provisions of this Plan, the specific Grant or any other Grant, but such provision shall be fully severable,
and this Plan, such specific Grant and any other Grant, as applicable, shall be construed and enforced as if the illegal or invalid provision had never been included in this Plan, the specific Grant or any other Grant, as applicable. 

(l) The terms of this Plan shall govern all Grants under this Plan and in no event shall the Committee have the
power to authorize a Grant under this Plan that is contrary to any of the provisions of this Plan. 

Section 7. Plan Amendment or Suspension. This Plan may be amended or suspended in whole or in
part at any time from time to time by the Board. No amendment of this Plan shall adversely affect in a material manner any right of any person with respect to any Grant previously granted without such person’s written consent. 

Section 8. Plan Termination. This Plan shall terminate upon the earlier of the following dates
or events to occur: 
 (a) upon the adoption of a resolution of the Board terminating this Plan; or

 (b) when no more Class A Common Shares are authorized to be issued under this Plan. 

No termination of this Plan shall materially alter or impair any of the rights or obligations of any person, without his or her consent, under any Grant
previously granted under this Plan. 
 Section 9. Effective Date. This Plan shall be
effective, and Grants awarded under this Plan, on or after the Effective Date. 
  

			
	ADOPTED BY THE BOARD:	  	February 22, 2012
	APPROVED BY THE STOCKHOLDERS:	  	May 30, 2012
	EFFECTIVE DATE:	  	May 30, 2012

 EXECUTED to evidence this CompX International Inc. 2012 Director Stock Plan adopted by the Board
on February 22, 2012 and the stockholders of CompX on May 30, 2012. 
  

			
	COMPX INTERNATIONAL INC.
		
	By:	 	 
		 	A. Andrew R. Louis, Vice President and Secretary

  
 Page 4 of 4EX-10.3

 Exhibit 10.3 
 AMENDED AND RESTATED 
 TAX AGREEMENT 

Between 

NL INDUSTRIES, INC. 
 AND 
 COMPX INTERNATIONAL
INC. 
 AMENDED AND RESTATED TAX AGREEMENT (the “Agreement”) dated as of December 1,
2012 by and among NL Industries, Inc. (“NL”), a Delaware corporation having its principal executive offices at Three Lincoln Centre, 5430 LBJ Freeway, Suite 1700, Dallas, Texas 75240, Contran Corporation
(“Contran”), a Delaware corporation having its principal executive offices at Three Lincoln Centre, 5430 LBJ Freeway, Suite 1700, Dallas, Texas 75240 and CompX International Inc. (“CompX”), a Delaware corporation
having its principal executive offices at Three Lincoln Centre, 5430 LBJ Freeway, Suite 1700, Dallas, Texas 75240.NLCOMPX 

WHEREAS, NL and CompX file consolidated returns of federal income taxes and, subject to certain jurisdictional limitations, are
subject to combined state and local tax reporting; 
 WHEREAS, this Agreement supercedes and amends and restates the Tax
Agreement dated October 1, 2004 previously entered into between NLNL, Contran and CompX; 
 WHEREAS, NLNL and CompX
wish to provide for the allocation of liabilities, and procedures to be followed, with respect to federal income taxes of CompX and any subsidiaries of CompX and with respect to certain combined state and local taxes on the terms of this Agreement.

 NOW, THEREFORE, in consideration of the promises and agreements herein contained, the parties hereto agree as follows:

 1. Definitions. As used in this Agreement, the following terms have the meanings set forth below: 

(a) Code: The Internal Revenue Code of 1986, as amended, and with respect to any section thereof any successor provisions
under such Code or any successor Code. 
 (b) Combined Foreign, State and Local Taxes: For a taxable period, and
with respect to a specified group of entities, the amount of all Foreign, State and Local Taxes, for which liability is computed on the basis of a combined, unitary or consolidated return (whether at the initiative of the tax authority or of the
taxpayer). 
 (c) Contran Corporation: A Delaware corporation that is the common parent of a group of
corporations, which group of corporations includes the CompX Group and NL Group, electing to file a consolidated federal income tax return. 

 (d) Federal Taxes: All federal income taxes, together with all interest and
penalties with respect thereto. 
 (e) Foreign, State and Local Taxes: All foreign, state and local taxes,
including franchise and similar taxes, together with all interest and penalties with respect thereto. 
 (f) NL
Group: NL and each of its direct and indirect subsidiaries which would be a member of an affiliated group, within the meaning of section 1504(a) of the Code, and eligible to file a combined, unitary or consolidated return of which Contran was the
common parent (the “Contran Tax Group”), as such NL Group is constituted from time to time. For purposes of this Agreement (to the extent related to the determination of Combined Foreign, State and Local Taxes for the NL Group), the term
“NL Group” shall include all direct and indirect subsidiaries of NL with reference to which Combined Foreign, State and Local Taxes are determined. 
 (g) CompX Group: CompX and each of its direct or indirect subsidiaries which would be a member of an affiliated group, within the meaning of section 1504(a) of the Code, and eligible to file a combined,
unitary or consolidated return of which CompX was the common parent, as such CompX Group is constituted from time to time. For purposes of this Agreement (to the extent related to the determination of Combined Foreign, State and Local Taxes for the
CompX Group) , the term “CompX Group” shall include all direct and indirect subsidiaries of CompX with reference to which Combined, Foreign, State and Local taxes are determined. 

(h) CompX Group Tax Liability: For a taxable period, the liability for Federal Taxes and Combined Foreign, State and Local
taxes, as applicable, that the CompX Group would have had if it were not a member of the NL Group or Contran Tax Group during such taxable period (or during any taxable period prior thereto , and instead filed a separate consolidated or combined
return, as applicable, for such taxable period); provided, however, that for purposes of determining such liability for a taxable period all tax elections shall be consistent with the tax elections made by Contran for such period. In making such tax
elections it is understood Contran will make those tax elections which are beneficial to the Contran Tax Group on a consolidated basis. Nevertheless, Contran will use its best efforts in the case of those elections which affect the computation of
the CompX Group Tax Liability, to make elections in a reasonable manner so as to minimize the CompX Group Tax Liability. For purposes of this Agreement, in determining the Combined Foreign, State and Local Taxes for the CompX Group, such
determination shall be made based on a separate Foreign, State and Local Tax Calculation as if the CompX Group were a separate unitary filer with respect to states and other jurisdictions in which Contran is required to file on a unitary or combined
basis. 

 (i) Foreign, State and Local Tax Calculation: For each reporting period, the
Tax Calculation will be based on the estimated taxable income of the CompX Group for the taxable period that includes such reporting period, applied to current year tax rates and using the CompX Group’s applicable apportionment factors and
state, local or other applicable adjustments, in each case based on the applicable combined or unitary return most recently-filed as of each reporting period by the Contran Tax Group for each applicable tax jurisdiction (as modified for
extraordinary, one-time event adjustments or tax law changes, if any, impacting the unitary calculation for the CompX Group). 

2. Contran as Agent. Contran shall be the sole agent for the CompX Group in all matters relating to the CompX Group Tax Liability.
The CompX Group shall not (a) terminate such agency or (b) without the consent of Contran, participate, or attempt to participate, in any matters related to the CompX Group Tax Liability, including, but not limited to, preparation or
filing of, or resolution of disputes, protests or audits with the Internal Revenue Service, state or local taxing authorities concerning, the Contran Tax Group’s consolidated returns of Federal Taxes, returns of Combined Foreign, State and
Local Taxes or the CompX Group Tax Liability with respect thereto for any taxable period beginning after October 1, 2004. The CompX Group shall cooperate fully in providing Contran with all information and documents necessary or desirable to
enable Contran to perform its obligations under this Section, including completion of Internal Revenue Service and state or local tax audits in connection with such CompX Group Tax Liability and determination of the proper liability for such CompX
Group Tax Liability. 
 3. Liability for Taxes; Refunds. 

(a) NL, as the common parent of the CompX Group, shall be responsible for, and shall pay to Contran or a taxing authority,
as applicable, the consolidated tax liability for Federal Taxes and Combined Foreign, State and Local Taxes for the NL Group and has the sole right to any refunds received from Contran or a taxing authority, as applicable, subject to the provisions
of Sections 5 and 6 of this Agreement. 
 (b) Notwithstanding any other provision of this Agreement, CompX and
each subsidiary of CompX which is a member of the CompX Group shall be severally liable to NL for the CompX Group Tax Liability. 
 (c) CompX shall indemnify NL and hold it and the NL Group other than the CompX Group, harmless from and against any deficiency in the CompX Group Tax Liability that may be due to NL. 

(d) NL shall indemnify CompX and hold it and the CompX Group harmless from and against any Federal Taxes and Combined
Foreign, State and Local Taxes attributable to the NL Group or any other member of the Contran Tax Group, other than the CompX Group, as such taxes are determined under this and other tax sharing agreements. 

4. Tax Returns. Contran shall file on behalf of the CompX Group any and all federal, foreign, state and local tax returns that are
required as they pertain to the CompX Group Tax Liability. The CompX Group, at Contran’s’s request, shall join in any applicable consolidated returns of Federal Taxes and any returns of Combined Foreign, State and Local Taxes (for which
returns have not been theretofore filed) and execute its consent, if such consent 

 
has not previously been executed, to each such filing on any form as may be prescribed for such consent if such consent is required. The decision of Contran’s Vice President and Tax Director
(or any other officer so designated by Contran) with responsibility for tax matters shall, subject to the provisions of this Agreement, be binding in any dispute between Contran, NL and the CompX Group as to what tax position should be taken with
respect to any item or transaction of the CompX Group. The preceding sentence is limited to the tax positions that affect the CompX Group Tax Liability and the combined NL Group and Contran Tax Group. In addition, NL and members of the NL Group,
including CompX and members of the CompX Group, shall provide each other with such cooperation, assistance and information as each of them may request of the other with respect to the filing of any tax return, amended return, claim for refund or
other document with any taxing authority. CompX shall be solely responsible for all taxes due for the CompX Group with respect to tax returns filed by CompX or a member of the CompX Group that are required to be filed on a separate company basis,
independent of Contran or NL. 
 5. Payment of CompX Group Tax Liability for Federal Taxes and Foreign, State and
Local Taxes. On or before each date, as determined under section 6655 of the Code (with respect to Federal Taxes) and the applicable tax provisions with respect to any Foreign, State and Local Taxes due pursuant to this Agreement, for payment of
an installment of estimated Federal Taxes or any Foreign, State and Local Taxes, CompX shall pay to NL an amount equal to the installment which the CompX Group would have been required to pay as an estimated payment of Federal Taxes to the Internal
Revenue Service or any Foreign, State and Local Taxes to the applicable taxing authority if it were filing a separate consolidated, combined or unitary return in respect of the CompX Group Tax Liability. Any balance owed with respect to the CompX
Group Tax Liability for such taxable period shall be paid to NL on or before the 15th day of the third month after the close of such taxable period. If it is not possible to determine the amount of such balance on or before such day, (a) a
reasonable estimate thereof shall be paid on or before such day, (b) the amount of such balance shall be finally determined on or before the earlier of; (i) the 15th day of the ninth month after the close of such taxable period (or the
applicable due date for the Contran foreign, state or local combined or unitary return) and (ii) the date on which the Contran Group consolidated tax return for such period is filed with the Internal Revenue Service or the applicable tax
authority, and (c) any difference between the amount so determined and the estimated amount paid shall; (i) in the case of an underpayment, be promptly paid to NL and (ii) in the case of an overpayment, be promptly refunded or applied
against the estimated CompX Group Tax Liability for the immediately following tax period, at the option of NL. If the overpayment is not applied to the immediately following tax period, such overpayment shall be promptly refunded to the CompX Group.
As between the parties to this Agreement, the CompX Group shall be solely responsible for the CompX Group Tax Liability and shall have no responsibility for Federal Taxes of the NL Group or the Contran Group other than payment of the CompX Group Tax
Liability in accordance with the terms of this Agreement. Notwithstanding the foregoing, NL at its option may extend the payment due date for any of the payments referenced above. 

6. Refunds for CompX Group Losses and Credits for Federal Taxes. If the calculation with respect to the CompX Group Tax
Liability for Federal Taxes results in a net operating loss (“NOL”) for the current tax period that, in the absence of a Code Section 172(b)(3) election made by Contran, is carried back under Code Sections 172 and 1502 to a prior

 
taxable period or periods of the CompX Group with respect to which the CompX Group previously made payments to NL, then, in that event, NL shall pay (or credit) CompX an amount equal to the tax
refund to which the CompX Group would have been entitled had the CompX Group filed a separate consolidated federal income tax return for such year (but not in excess of the net aggregate amount of the CompX Group Tax Liability paid to NL with
respect to the preceding two taxable periods). If the calculation with respect to the CompX Group Tax Liability results in an NOL for the current tax period, that subject to the Code Section 172(b)(3) election made by Contran, is not carried
back under Code Sections 172 and 1502 to a prior taxable period or periods of the CompX Group with respect to which CompX made payments to NL or is not carried back because the Contran Tax Group does not have a consolidated net operating loss for
the current tax period, then, in that event such NOL shall be an NOL carryover to be used in computing the CompX Group Tax Liability for future taxable periods, under the law applicable to NOL carryovers in general, as such law applies to the
relevant taxable period. Payments made pursuant to this Section 6 shall be made on the date that Contran (or any successor common parent of a tax group to which the NL Group is a member) files its consolidated federal income tax return for the
taxable period involved. Principles similar to those discussed in this Section 6 shall apply in the case of the utilization of all CompX Group loss and credit carrybacks and carryovers. 

7. Refunds for CompX Group Combined or Unitary Foreign, State and Local Losses and Credits . The foregoing principles
contained in Section 6 shall apply in similar fashion to any consolidated, unitary or combined foreign, state or other local income tax returns, containing any member of the CompX Group, which may be filed based on the CompX Group Tax Liability
for Foreign, State and Local Taxes. 
 8. Subsequent Adjustments. If any settlement with the Internal Revenue Service,
foreign, state or local tax authority or court decision which has become final results in any adjustment to any item of income, deduction, loss or credit to the Contran Group in respect of any taxable period subject to this Agreement, which, in any
such case, affects or relates to any member of the CompX Group as constituted during such taxable period, the CompX Tax Group Liability shall be redetermined to give effect to such adjustment as if it had been made as part of or reflected in the
original computation of the CompX Tax Group Liability and proper adjustment of amounts paid or owing hereunder in respect of such liability and allocation shall be promptly made in light thereof. 

9. Amendments. This Agreement may be amended, modified, superseded or cancelled, and any of the terms, covenants, or conditions
hereof may be waived, only by a written instrument specifically referring to this Agreement and executed by all parties (or, in the case of a waiver, by or on behalf of the party waiving compliance). The failure of any party at any time or times to
require performance of any provision of this Agreement shall in no manner affect the right at a later time to enforce the same. No waiver by any party of any condition, or of any breach of any term or covenant, contained in this Agreement, in any
one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such condition or breach, or a waiver of any other condition or of any breach of any other term or covenant. 

 10. Retention of Records. Contran shall retain all tax returns, tax reports, related
workpapers and all schedules (along with all documents that pertain to any such tax returns, reports or workpapers) that relate to a taxable period in which the CompX Group is included in a consolidated or combined tax return with NL and Contran.
Contran shall make such documents available to CompX at CompX’s request. Contran shall not dispose of such documents without the permission of CompX. 
 11. Headings. The headings of this Agreement are for convenience of reference only, and shall not in any way affect the meaning or interpretation of this Agreement. 

12. Governing Law. This Agreement shall be construed and enforced in accordance with the laws of the State of Delaware without
regard to conflicts of laws provisions. 
 13. Counterparts. This Agreement may be executed in multiple counterparts,
each of which shall be an original, but all of which shall constitute but one agreement. 
 14. Successors. This
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective subsidiaries, and their respective successors and assigns. 
 15. Effective Date. This Agreement shall be effective as of December 1, 2012. 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first
above written. 
  

			
	NL INDUSTRIES, INC.
		
	By:	 	 
		 	Kelly D. Luttmer
		 	Vice President and Tax Director
		 	
	
	CONTRAN CORPORATION
		
	By:	 	 
		 	Gregory M. Swalwell
		 	Vice President and Controller
	
	COMPX INTERNATIONAL INC.
		
	By:	 	 
		 	Darryl R. Halbert
		 	Vice President, Chief Financial Officer and Controller

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}]]