Document:

EX-10.1

 Exhibit 10.1 

COMMITMENT AGREEMENT 

This Commitment Agreement (this “Agreement”) is made as of April 25, 2017, by and among KLR Energy Sponsor, LLC
(“Sponsor”), the undersigned (the “undersigned”) and KLR Energy Acquisition Corp. (the “Company”). In connection with the business combination between Tema Oil and Gas Company
(“Tema”) and the Company (the “Business Combination”) pursuant to a Business Combination Agreement, dated as of December 20, 2016, by and between the Company and Tema, as may be amended from time to time (the
“Business Combination Agreement”), Sponsor seeks to obtain ownership commitments whereby the undersigned agrees to beneficially own the number of public shares of Class A common stock of the Company (“Common
Stock”) set forth under his, her or its name on the signature page hereto (such amount, the “Commitment Amount”) immediately prior to the closing of the Business Combination and that such public shares have not been or will
not be redeemed against the Company’s trust account in connection with the special meeting (the “Special Meeting”) of the stockholders of the Company to vote on the proposals set forth in the Company’s proxy statement
filed with the Securities and Exchange Commission on April 12, 2017 (as may be amended, revised, or supplemented from time to time, the “Proxy Statement”). 

1. Redemption. The undersigned agrees that it shall satisfy its obligation to beneficially own a number of public shares of Common
Stock equal to the Commitment Amount as of the closing of the Business Combination in accordance with the terms above by electing not to redeem against the Company’s trust account in connection with the Special Meeting a number of public shares
equal to the Commitment Amount currently owned by the undersigned. The undersigned represents and warrants to Sponsor that (i) on March 28, 2017, the record date for the Special Meeting, it was the beneficial owner of a number of public
shares at least equal to the Commitment Amount, and (ii) on the date hereof, a number of public shares at least equal to the Commitment Amount are beneficially owned by the undersigned. Upon the request of Sponsor, whether in advance of the
anticipated closing date of the Business Combination or as of the closing date of the Business Combination, the undersigned shall provide all documentary evidence reasonably requested by Sponsor, including a broker certification, to confirm that
(x) the undersigned beneficially owns such public shares of Common Stock at least equal to the Commitment Amount and (y) such public shares have not been redeemed against the Company’s trust account in connection with the Special
Meeting. 
 2. Share Consideration. In consideration of the undersigned’s performance of its obligations described herein, on
the business day following the completion of the Business Combination, Sponsor shall transfer, or cause to be transferred, to the undersigned 37,212 shares of Common Stock (the “Share Consideration”). 

3. Delivery of Share Consideration. The delivery of the Share Consideration is conditioned upon (i) the closing of the Business
Combination and (ii) the satisfaction of each party’s respective obligations hereto (or written waiver by the other party hereto). 

4. Expenses. The undersigned shall pay all of its own expenses in connection with this Agreement and the transactions contemplated
hereby. 
 5. Governing Law; Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the laws of the
State of New York, without regard to the principles of conflicts of laws that would otherwise require the application of the law of any other state. Each of the parties hereto hereby irrevocably submits to the exclusive jurisdiction of the state
courts of the State of New York, seated in New York County and any federal court sitting in the Southern District of New York (and any applicable courts of appeal thereto) over any suit, action or proceeding arising out of or relating to this
Agreement and the transactions contemplated hereby. Each party hereto hereby waives any right to a jury trial in connection with any litigation pursuant to this Agreement and the transactions contemplated hereby. 

6. Registration Rights. The Company agrees that the Share Consideration to be received by the undersigned will be registered on the
registration statement contemplated by Section 5 of that subscription agreement, dated as of December 20, 2016, by and between the Company, the Sponsor and the undersigned (the “Subscription Agreement”), and Company and
the undersigned agree that the registration of such Share Consideration will be subject to the terms and conditions of Section 5 of the Subscription Agreement. 

 7. Investor Questionnaire; Form W-9. In connection
with the execution of the Subscription Agreement, the undersigned executed and delivered an Investor Questionnaire and the Form W-9 in the forms attached thereto. The representations and warranties in the
Investor Questionnaire of the undersigned and/or entities designated by the undersigned shall be true and correct as of the date thereof and the date hereof, and as of the date of the Closing as if made on and as of such date. The undersigned agrees
to promptly notify the Company and provide it with the relevant updated information for any change in circumstances at any time on or prior to the Closing. 

8. Tax Treatment. For U.S. federal income tax purposes (and for purposes of any applicable state or local tax that follow that U.S.
federal income tax treatment), the parties agree that the Company has directed Sponsor to transfer to the undersigned the Share Consideration on behalf of the Company, in lieu of the transfer by Sponsor of such shares to the Company for cancellation
in exchange for no consideration and the reissuance of such shares by the Company to the undersigned pursuant to this Agreement. 
 9.
Closing. The closing of the transactions contemplated by this Agreement (the “Closing”) is expected to occur on the business day following the completion of the Business Combination. Upon the business day following the
satisfaction of the conditions of the Business Combination and obligations of each party’s respective obligations hereto (or written waiver by the other party hereto), Sponsor shall deliver (or cause the delivery of) the Share Consideration in
book entry (electronic) form to the undersigned or to a custodian designated by the undersigned, as applicable. 
 10. Expiration. In
the event that the closing of the Business Combination does not occur, this Agreement shall be terminated with no further force or effect. 

[Signature page follows] 

  
 2 

 
			
	UNDERSIGNED
	The K2 Principal Fund, L.P.
	
	Commitment Amount: 430,000 shares of Common Stock
		
	By:	 	 /s/ Shawn Kimel

	Name:	 	Shawn Kimel
	Title:	 	Managing Partner

 
			
		
	Address:	 	2 Bloor St. West, Suite 801
		 	Toronto, Ontario, Canada M4W 3ED

  

			
	ACKNOWLEDGED AND AGREED:
	
	KLR ENERGY SPONSOR, LLC
		
	By:	 	KLR Group Investments, LLC,
		 	its managing member
		
	By:	 	 /s/ Edward Kovalik

	Name:	 	Edward Kovalik
	Title:	 	Manager
	
	KLR ENERGY ACQUISITION CORP.
		
	By:	 	 /s/ Gary C. Hanna

	Name:	 	Gary C. Hanna
	Title:	 	Chief Executive Officeralv-ex101_155.htm

 

Exhibit 10.1

 

AUTOLIV, INC.

NON-EMPLOYEE DIRECTOR COMPENSATION POLICY

 

Effective January 1, 2017

 

	
I.
	
Adoption Date; Effective Date.  On February 20, 2017 (the “Adoption Date”), the Board adopted this Non-Employee Director Compensation Policy, to be effective January 1, 2017.  

 

	
II.
	
Retainers.  The following shall remain in effect until changed by the Board:

 

	
Annual Base Retainer*
	
 

	
All Non-Employee Directors other than Chairman
	
$240,000

	
Non-executive Chairman
	
$390,000

	
Lead Director Annual Supplemental Retainer*
	
$40,000

	
Committee Chair Annual Supplemental Retainers*
	
 

	
Audit Committee
	
$30,000

	
Compensation Committee
	
$20,000

	
Nominating and Corporate Governance Committee
	
$20,000

	
Compliance Committee
	
$20,000

 

*Subject to proration as described below.

 

	
III.
	
Payment Schedule

 

Annual Base Retainer

	
1)
	
Payment in Cash.  Fifty percent (50%) of the applicable Annual Base Retainer will be paid (a) in cash, (b) in advance, (c) on a quarterly basis and (d) prorated as described below.

 

	
“Quarterly Service Period”
	
Payment Date

	
May 1 to July 31
	
3 business days after the date of Annual General Meeting of Shareholders (“AGM”)

	
August 1 to October 31
	
August 1*

	
November 1 to January 31
	
November 1*

	
February 1 to April 30
	
February 1*

 

	
 
	
•
	
If a non-employee director is newly appointed or elected to the Board at the AGM, then his or her first quarterly cash payment will be prorated to reflect two full calendar months of service (e.g. if the AGM is in May, then the first quarterly cash payment will be with respect to service during June and July of such Quarterly Service Period).  

 

	
 
	
•
	
If a non-employee director is newly appointed or elected to the Board at any time other than at an AGM, then his or her first quarterly cash payment will be prorated to reflect the number of full calendar months of service between the effective date of the non-employee director’s appointment or election through the last day of the respective Quarterly Service Period (e.g. if a non-employee director is appointed to the Board on December 15, then his or her first quarterly cash payment will be with respect to service during January of such Quarterly Service Period), and will be paid on the third business day following the date of his or her appointment or election.  

 

 

 

	
 
	
•
	
If a non-employee director is not re-elected at the AGM, or a newly-nominated individual is not elected as a non-employee director at the AGM, then he or she will not receive any cash payment for services during the month of such AGM.

 

*If the payment date is not a business day, then the applicable payment shall be made on the first business day immediately following the payment date.

 

	
2)
	
Payment in Stock. Subject to share availability under the amended and restated Autoliv, Inc. 1997 Stock Incentive Plan, as the same may be amended from time to time (the “Plan”), fifty percent (50%) of the applicable Annual Base Retainer will be paid in the form of restricted stock units (the “Annual RSU Award”) granted on the date that the AGM is held (or, if the person becomes a non-employee director at any time other than at an AGM, the first business day following the effective date on which the person becomes a non-employee director) (in either case, a “RSU Grant Date”). The Annual RSU Awards will be granted under, and subject to the terms and conditions of, the Plan, and will vest on the earlier of (i) date of the next AGM, or (ii) the one-year anniversary of the RSU Grant Date (the “RSU Vesting Date”), subject to the non-employee director’s continued service on the Board on the RSU Vesting Date. If a non-employee director’s service on the Board terminates for any reason prior to the RSU Vesting Date, then he or she will forfeit the Annual RSU Award. The number of RSUs granted pursuant to the Annual RSU Award will be determined by (A) dividing the amount that is fifty percent (50%) of the applicable Annual Base Retainer by the closing price of a share of Common Stock on the RSU Grant Date and (B) rounding to the nearest whole number. If a non-employee director is newly appointed or elected to the Board at any time other than at an AGM, then the dollar value of his or her Annual RSU Award will be prorated based on the number of full calendar months between the effective date of the non-employee director’s appointment or election through the month in which the next AGM will be held.  

 

Lead Director and Committee Chair Retainers 

 

Lead Director and Committee Chair annual supplemental retainers will be paid in cash quarterly in advance, as set forth in the table above, and subject to proration as described under the “Annual Base Retainer” section above. In the event a non-employee director is serving as Committee Chair during  a Quarterly Service period and leaves such appointment to be appointed as a Committee Chair with a higher retainer or as Lead Director during the same Quarterly Service Period, the quarterly retainer for such director will be re-calculated pro-rated for days of service in each role during the quarter and the difference is paid on the third business day following his or her appointment.

 

Stock Ownership Policy.  Non-employee directors are required to hold shares of Common Stock granted pursuant to the Annual Stock Grants until he or she has met the ownership requirements set forth in the Autoliv, Inc. Stock Ownership Policy for Non-Employee Directors.

 

Transition. The payment schedule set forth on Appendix A hereto will apply to the service period commencing January 1, 2017 and ending on the date that the 2017 AGM will be held (the “Transition Period”)

 

 

 

APPENDIX A

 

The Board previously maintained a director compensation policy pursuant to which non-employee directors were paid compensation for their service on the Board in arrears (the “Prior Program”). The following payment schedule will apply to the Transition Period.  

 

	
 
	
1)
	
Pursuant to the Prior Program, each non-employee director received fifty percent (50%) of his or her applicable Annual Base Retainer paid in the form of fully-vested shares of Common Stock (“Fully-Vested Stock Grant”) on the date in each calendar year when the Company grants its annual incentives for employees for the coming year, as payment for service on the Board during the prior calendar year.  Notwithstanding the terms of the Prior Program, non-employee directors in service on the Adoption Date (“Current Non-Employee Directors”) will not receive their Fully-Vested Stock Grant originally scheduled to be made in February 2017 under the Prior Program, as consideration for his or her service through December 31, 2016.  Instead, such Fully-Vested Stock Grant shall be made on the date that the 2017 AGM is held (in addition to the Annual RSU Award to be granted on such date under the new program).  

 

	
 
	
2)
	
Each Current Non-Employee Director has received his or her cash payment (with respect to fifty percent (50%) of his Annual Base Retainer, as well as any applicable Lead Director Annual Supplemental Retainer and Committee Chair Annual Supplemental Retainer) originally scheduled to be paid in January 2017 under the Prior Program, as consideration for his service through December 31, 2016.

 

	
 
	
3)
	
Each Current Non-Employee Director (or a non-employee director that becomes a non-employee director during the Transition Period) will receive a one-time cash payment on the third business day following the date the 2017 AGM is held in satisfaction of both the cash and stock portion of the Annual Base Retainer and the Lead Director and Committee Chair annual supplemental retainers for service during the Transition Period (prorated based on the number of full months of service as a non-employee director during the Transition Period, if applicable). 

 

	
 
	
4)
	
No additional stock will be granted as consideration for service during the Transition Period.

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