Document:

Exhibit
10.1

HASKINS
SETTLEMENT AGREEMENT

CONFIDENTIAL
SETTLEMENT AGREEMENT AND RELEASE

          This
CONFIDENTIAL
SETTLEMENT AGREEMENT AND RELEASE (“Settlement Agreement”), is made
and effective as of the 16th day of March, 2007, between: 

	
 

	
 

	
 

	
 

	
1)

	
Remington Arms Company,
  Inc. (“Remington”);

	
 

	
 

	
 

	
 

	
2)

	
RACI Holding, Inc.
  (“RACI”);

	
 

	
 

	
 

	
 

	
3)

	
The Clayton & Dubilier
  Private Equity Fund IV, L.P. (“Fund IV”);

	
 

	
 

	
 

	
 

	
4)

	
Clayton & Dubilier
  Associates IV Limited Partnership (“CD IV”);

	
 

	
 

	
 

	
 

	
5)

	
Clayton Dubilier &
  Rice, Inc. (“CDR”); 

	
 

	
 

	
 

	
 

	
6)

	
Thomas Millner

	
 

	
 

	
 

	
 

	
7)

	
Leon Hendrix

	
 

	
 

	
 

	
 

	
8)

	
Michael Babiarz

	
 

	
 

	
 

	
 

	
9)

	
Bruckmann, Rosser,
  Sherrill & Co., LLC, Bruckmann, Rosser, Sherrill & Co. II, L.P.,
  BRSE, L.L.C., Bruckman Rosser Sherrill & Co., Inc., (collectively “BRS”);
  and

	
 

	
 

	
 

	
 

	
10)

	
Plaintiff Robert Haskin
  (“Plaintiff Haskin”).

          Remington,
RACI, Fund IV, CD IV, CDR, Thomas Millner, Leon Hendrix and Michael Babiarz
shall be referred to collectively as the “Remington Defendants.”

          All
of the parties listed above shall be referred to collectively as “the Parties.”

RECITALS

                    WHEREAS,
on January 20, 2006, Plaintiff Haskin filed a lawsuit in the General Superior
Court of Justice, Superior Court Division, Guilford County, North Carolina,
(Civil Action No. 06-CVS-3083) (the “Lawsuit”), against the Remington
Defendants and BRS; 

                    WHEREAS,
the Remington Defendants and BRS have expressly denied any wrongdoing or
liability to Plaintiff Haskin of any kind whatsoever; and 

                    WHEREAS,
while expressly denying and disclaiming wrongdoing or liability of any kind
whatsoever, the Parties have agreed to enter into this Settlement Agreement in
order to avoid further expense, inconvenience, and the distraction of the legal
proceedings, and to put to rest all claims between Plaintiff Haskin and the
Remington Defendants and BRS that were or might have been alleged in the
Lawsuit.

                    NOW,
THEREFORE, for good and valuable consideration, including the mutual covenants
herein contained, the Parties hereby agree as follows:

	
 

	
 

	
A.

	
Confidentiality of Settlement Agreement.

          The
Parties agree to keep the terms of this Settlement Agreement confidential;
provided however, that the Parties may disclose the terms of this Settlement
Agreement to their attorneys, accountants and other professional advisors
and/or as required by law for tax or legal purposes, and the Remington
Defendants and BRS may disclose the terms of this Settlement Agreement, under
the terms of a Confidentiality Agreement, if requested to do so in connection
with a potential acquisition of some or all of Remington or RACI. If a party to
this Settlement Agreement determines that disclosure of the terms of this
Settlement Agreement must be made in connection with any governmental or
judicial proceeding, or must be included in any public filing, such party shall
notify the other party in writing immediately upon becoming aware of such
requirement. If the other party disputes the need for the disclosure, the party
requested to make the disclosure shall use its best efforts to obtain
permission from the requesting party to omit or redact the highly confidential
terms of the Settlement Agreement prior to its disclosure. Disclosure of any
terms or conditions of this Settlement Agreement under this section shall not
diminish the confidential nature thereof. 

	
 

	
 

	
B.

	
No Admission of Liability.

          None
of the Parties admit any wrongdoing or liability by virtue of entering into
this Settlement Agreement.

	
 

	
 

	
C.

	
Payment.

          On
or before March 16, 2007, Remington shall pay Plaintiff Haskin a total of seven
hundred and seventy-five thousand dollars ($775,000). The payment shall be
wired to an escrow account maintained by the law firm of Robinson Lawing, LLP,
where it shall be held pending full execution of this Agreement and the filing
of a stipulated dismissal with prejudice of the Lawsuit. Remington represents
that it is in compliance with all bank and debt covenants, and that performance
under this Agreement will not constitute a default of any such covenants or put
Remington in default of any such covenants.

	
 

	
 

	
D.

	
Dismissal of the Lawsuit.

          On
or before March 16, 2007, Plaintiff Haskin shall dismiss with prejudice the
Lawsuit. 

	
 

	
 

	
E.

	
Costs and Attorneys’ Fees.

          Each
Party shall be solely responsible for its own legal expenses, costs, and fees
in connection with the Lawsuit.

	
 

	
 

	
F.

	
Mutual Releases.

          1.          Except
as limited herein, Plaintiff Haskin hereby irrevocably and unconditionally
releases and forever discharges the Remington Defendants, their predecessors,
successors and assigns, each of their respective past, present and future
parent entities, shareholders, partners, members, owners, affiliated entities, subsidiaries,
divisions, departments, joint venturers, licensors, licensees, trustees, and
all of their respective directors, officers, agents, employees, attorneys,
insurers, administrators, successors, and assigns, from any and all claims,
demands, actions, causes of action, suits, debts, liens, contracts,
liabilities, agreements, costs, expenses, or losses of any type, whether known
or unknown, fixed or contingent, suspected or unsuspected, accrued or
unaccrued, which Plaintiff Haskin now has, or may hereafter have, of any kind
whatsoever; PROVIDED, HOWEVER, that notwithstanding the foregoing or anything
else in this Settlement Agreement, Remington and RACI expressly understand and
acknowledge that Plaintiff Haskin is not hereby and does not release his right
to continue purchasing insurance through Remington as provided in the Letter
Agreement of December 5, 1996, entered into by and between Plaintiff Haskin,
Remington and RACI. 

          2.          Plaintiff
Haskin hereby irrevocably and unconditionally releases and forever discharges
BRS, their predecessors, successors and assigns, each of their respective past,
present and future parent entities, shareholders, partners, members, owners,
affiliated entities, subsidiaries, divisions, departments, joint venturers,
licensors, licensees, trustees, and all of their respective directors,
officers, agents, employees, attorneys, insurers, administrators, successors,
and assigns, from any and all claims, demands, actions, causes of action,
suits, debts, liens, contracts, liabilities, agreements, costs, expenses, or
losses of any type, whether known or unknown, fixed or contingent, suspected or
unsuspected, accrued or unaccrued, which Plaintiff Haskin now has, or may
hereafter have, of any kind whatsoever. 

          3.          The
Remington Defendants, by and on behalf of their predecessors, successors and
assigns, each of their respective past, present and future parent entities,
shareholders, partners, members, owners, affiliated entities, subsidiaries,
divisions, departments, joint venturers, licensors, licensees, trustees, and
all of their respective directors, officers, agents, employees, attorneys,
insurers, administrators, successors, and assigns, hereby irrevocably and
unconditionally release and forever discharge Plaintiff Haskin from any and all
claims, demands, actions, causes of action, suits, debts, liens, contracts,
liabilities, agreements, costs, expenses, or losses of any type, whether known
or unknown, fixed or contingent, suspected or unsuspected, accrued or
unaccrued, which the Remington Defendants now have, or may hereafter have, of
any kind whatsoever. 

          4.          BRS,
by and on behalf of their predecessors, successors and assigns, each of their
respective past, present and future parent entities, shareholders, partners,
members, owners, affiliated entities, subsidiaries, divisions, departments,
joint venturers, licensors, licensees, trustees, and all of their respective
directors, officers, agents, employees, attorneys, insurers, administrators,
successors, and assigns, hereby irrevocably and unconditionally release and
forever discharge Plaintiff Haskin from any and all claims, demands, actions,
causes of action, suits, debts, liens, contracts, liabilities, agreements,
costs, expenses, or losses of any type, whether known or unknown, fixed or
contingent, suspected or unsuspected, accrued or unaccrued, which BRS now has,
or may hereafter have, of any kind whatsoever. 

          5.          In
connection with the aforementioned releases, the Parties agree not to sue one
another on any of the released claims. If a party does so, then the
non-violating party shall be entitled to recover from the violating party its
or his reasonable attorneys’ fees and costs incurred in defending any action involving
a released claim. 

	
 

	
 

	
G.

	
No Assignment of Claims.

          Plaintiff
Haskin represents and warrants that there has been, and there will be, no
assignment or other transfer or disposition of any interest or claim in any
matter, or part or portion thereof, which has otherwise been released in this
Settlement Agreement. Plaintiff Haskin understands and agrees that the
Remington Defendants and 

BRS, in
entering into this Settlement Agreement, are relying on the representation and
warranty of this paragraph, and that any violation of this Paragraph shall give
rise to a cause of action by the Remington Defendants and/or BRS to seek to
recover any and all payments made pursuant to this Settlement Agreement. For the avoidance of doubt, this Section G
shall not preclude a payment or payments by Plaintiff Haskin to other persons
or entities of a portion of the payment provided for by Section C.

          Each
of the Remington Defendants and BRS warrant and represent to Plaintiff Haskin
that there has been, and there will be, no assignment or other transfer or
disposition by the Remington Defendants or BRS of any interest or claim in any
matter, or part or portion thereof, which has otherwise been released in this
Settlement Agreement. Each of the Remington Defendants and BRS understands and
agrees that Plaintiff Haskin, in entering into this Settlement Agreement, is
relying on the representation and warranty of this paragraph, and that any
violation of this Paragraph shall give rise to a cause of action by Plaintiff
Haskin to seek to recover damages, if any. 

	
 

	
 

	
H.

	
Agreement not to Aid or Assist With Future
  Claims.

          1.          Plaintiff
Haskin, by and on behalf of his heirs, executors, administrators and attorneys,
represents and warrants that he has not and will not aid, assist, participate,
or cooperate in any manner whatsoever with anyone who has or may wish to file a
claim against any or all of the parties released under Section F. (1) and (2)
above, and further that he will not request or urge anyone to make or file such
a claim. The parties understand and agree that Plaintiff Haskin will not be
construed or deemed to have violated the terms of this paragraph if Plaintiff
Haskin is compelled by legal process to produce documents or give testimony. In
the event Plaintiff Haskin is served with such legal process, he shall give
notice to the Remington Defendants and BRS of such fact. Plaintiff Haskin
understands and agrees that the Remington Defendants and BRS, in entering into
this Settlement Agreement, are relying on the representation and warranty of
this paragraph, and that any violation of this Paragraph shall give rise to a
cause of action by the Remington Defendants and/or BRS to seek to recover any
and all payments made pursuant to this Settlement Agreement. 

          2.          The
Remington Defendants, by and on behalf of their officers, directors,
shareholders, partners, members, employees, agents representatives and
attorneys, agree that they will not aid, assist, participate, or cooperate in
any manner whatsoever with anyone who has or may wish to file a claim against
Plaintiff Haskin, and further that they will not request or urge anyone to make
or file such a claim. The parties understand and agree that a Remington
Defendant will not be construed or deemed to have violated the terms of this
paragraph if such Remington Defendant is compelled by legal process to produce
documents or give testimony. In the event that any of the Remington Defendants
is served with such legal process, it or he, as the case may be, shall give
notice to the Plaintiff Haskin of such fact. Each of the Remington Defendants
understands and agrees that Plaintiff Haskin, in entering into this Settlement
Agreement, is relying on the representation and warranty of this paragraph, and
that any violation of this Paragraph shall give rise to a cause of action by
Plaintiff Haskin to seek to recover damages, if any.

          3.          BRS,
by and on behalf of their officers, directors, shareholders, partners, members,
employees, agents representatives and attorneys, agree that they will not aid,
assist, participate, or cooperate in any manner whatsoever with anyone who has
or may wish to file a claim against Plaintiff Haskin, and further that they
will not request or urge anyone to make or file such a claim. The parties
understand and agree that BRS will not be construed or deemed to have violated
the terms of this paragraph if BRS is compelled by legal process to produce
documents or give testimony. In the event that BRS is served with such legal
process, it shall give notice to the Plaintiff Haskin of such fact. BRS
understands and agrees that Plaintiff Haskin, in entering into this Settlement
Agreement, is relying on the representation and warranty of this paragraph, and
that any violation of this Paragraph shall give rise to a cause of action by
Plaintiff Haskin to seek to recover damages, if any.

	
 

	
 

	
I.

	
Representation by Counsel.

          The
Parties acknowledge that each has had the benefit and advice of independent
legal counsel in connection with this Settlement Agreement, and that they each
understand the meaning of each term of this Settlement Agreement, and the
consequences of signing this Settlement Agreement.

	
 

	
 

	
J.

	
Agreement Entered Into With Independent Judgment.

          The
Parties further declare and represent that they have reviewed this Settlement
Agreement in its entirety, and that in making this Settlement Agreement they
have relied wholly upon their own judgment, belief, knowledge, investigation,
independent legal advice, and research into the nature, extent, and duration of
losses and damages caused by the other, if any, and upon their independent
assessment of future business considerations, legal fees, and 

expenses they
would incur should the aforementioned legal proceedings continue, and that they
have not been influenced to any extent whatsoever in making this Settlement
Agreement by any representations or statements by any other party, or by any
person or persons representing or acting for any other party.

          The
Parties and their attorneys have cooperated in the drafting and preparation of
this Settlement Agreement. Any construction of this Settlement Agreement shall
not be construed against either Party as the draftsman of this Settlement
Agreement. 

	
 

	
 

	
K.

	
Final Agreement and no Oral Modification.

          This
Settlement Agreement contains the entire agreement between Plaintiff Haskin on
the one hand and the Remington Defendants and BRS on the other hand, and all
previous understandings, agreements, and communications prior to the date
hereof, whether express or implied, oral or written, relating to the subject
matter of this Settlement Agreement, are fully and completely extinguished and
superseded by this Settlement Agreement. This Settlement Agreement shall not be
altered, amended, modified, or otherwise changed, except by a writing duly
signed by the Parties.

	
 

	
 

	
L.

	
Severability.

          If
any of the provisions, terms, clauses, or waivers or releases of claims or
rights contained in this Settlement Agreement are declared unlawful,
unenforceable, or ineffective in a legal forum of competent jurisdiction, then
such provisions, terms, clauses, or waivers or releases of claims or rights
shall be deemed severable, such that all other provisions, terms, clauses, and
waivers and releases of claims and rights contained in this Settlement
Agreement shall remain valid and binding upon the Parties.

	
 

	
 

	
M.

	
Execution.

          Each
Party hereto covenants and represents that it is fully authorized to enter into
this Settlement Agreement and to carry out the obligations provided for herein.

          This
Settlement Agreement may be executed in counterparts, which when taken together
shall constitute one Agreement. 

          This
Settlement Agreement shall be binding upon and inure to the benefit of the
successors and assigns of the Parties hereto.

	
 

	
 

	
N.

	
Headings.

          The
captions used in this Settlement Agreement are inserted for convenience and
shall not be deemed a part of this Settlement Agreement for construction or
interpretation. 

          IN WITNESS
HEREOF, the Remington Defendants, BRS, and Plaintiff Haskin,
intending to be bound as of the date set forth above, have executed this
Settlement Agreement as follows:

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Dated: March 16, 2007

	
 

	
Bruckmann, Rosser,
  Sherrill & Co., Inc.

	
 

	
 

	
 

	
 

	
 

	
By:

	
/s/ Paul Kaminski

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
Name: Paul Kaminski

	
 

	
 

	
 

	
 

	
 

	
Title: CFO

	
 

	
 

	
 

	
Dated: March 16, 2007

	
Bruckmann, Rosser,
  Sherrill & Co. II, L.P

	
 

	
 

	
 

	
 

	
 

	
By:

	
/s/ Paul Kaminski

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
Name: Paul Kaminski

	
 

	
 

	
 

	
 

	
 

	
Title: Member & GP
  BRSE, LLC 

	
 

	
 

	
 

	
Dated: March 16, 2007

	
Bruckmann, Rosser,
  Sherrill & Co., LLC

	
 

	
 

	
 

	
 

	
 

	
By: 

	
/s/ Paul Kaminski

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
Name: Paul Kaminski

	
 

	
 

	
 

	
 

	
 

	
Title: Member

	
 

	
 

	
 

	
Dated: March 16, 2007

	
BRSE, L.L.C.

	
 

	
 

	
 

	
 

	
 

	
By:

	
/s/ Paul Kaminski

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
Name: Paul Kaminski

	
 

	
 

	
 

	
 

	
 

	
Title: Member

	
 

	
 

	
 

	
Dated: March 16, 2007

	
Remington Arms Company,
  Inc. 

	
 

	
 

	
 

	
 

	
 

	
By:

	
/s/ Thomas L. Millner

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
Name: Thomas L. Millner

	
 

	
 

	
 

	
 

	
 

	
Title: President & CEO

	
 

	
 

	
 

	
Dated: March 16, 2007

	
RACI Holding, Inc. 

	
 

	
 

	
 

	
 

	
 

	
By:

	
/s/ Thomas L. Millner

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
Name: Thomas L. Millner

	
 

	
 

	
 

	
 

	
 

	
Title: President & CEO

	
 

	
 

	
 

	
 

	
 

	
Dated: March 16, 2007

	
The Clayton & Dubilier
  Private Equity Fund IV L.P. 

	
 

	
 

	
 

	
 

	
 

	
By:

	
/s/ Donald J. Gogel

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
Name: Donald J. Gogel

	
 

	
 

	
 

	
 

	
 

	
Title: President & CEO

	
 

	
 

	
 

	
Dated: March 16, 2007

	
Clayton & Dubilier
  Associates IV Limited Partnership 

	
 

	
 

	
 

	
 

	
 

	
By:

	
/s/ Donald J. Gogel

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
Name: Donald J. Gogel

	
 

	
 

	
 

	
 

	
 

	
Title: President & CEO

	
 

	
 

	
 

	
Dated: March 16, 2007

	
Clayton Dubilier & Rice,
  Inc. 

	
 

	
 

	
 

	
 

	
 

	
By:

	
/s/ Donald J. Gogel

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
Name: Donald J. Gogel

	
 

	
 

	
 

	
 

	
 

	
Title: President & CEO

	
 

	
 

	
 

	
Dated: March 16, 2007

	
Thomas Millner 

	
 

	
 

	
 

	
 

	
 

	
Name: 

	
/s/ Thomas Millner

	
 

	
 

	
 

	

	
 

	
 

	
 

	
Dated: March 16, 2007

	
Leon Hendrix 

	
 

	
 

	
 

	
 

	
 

	
Name:

	
/s/ Leon Hendrix

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
Dated: March 16, 2007

	
Michael Babiarz 

	
 

	
 

	
 

	
 

	
 

	
Name:

	
/s/ Michael Babiarz

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
Dated: March 16, 2007

	
Robert Haskin 

	
 

	
 

	
 

	
 

	
 

	
Name:

	
/s/ Robert HaskinExhibit 10.30

Schedule of Board of Director and Committee
Fees

Effective January 1, 2007

Annual Director Fees

	
 

	
 

	
 

	

	

	

	
 

	
Retainer

	
 

	
$44,000
  (payable quarterly in arrears)

	

	

	

	
Stock

	
 

	
$40,000
  valued at closing price of TNL on the day immediately prior to the Annual
  Meeting, payable in a lump sum.

	

	

	

Annual Committee Fees (all paid quarterly in
arrears)

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
Audit

	
 

	
 

	
Compensation

	
 

	
 

	
Governance

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	
Chairman

	
 

	
$

	
25,000

	
 

	
 

	
$

	
10,000

	
 

	
 

	
 

	
$

	
9,000

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	
Member

	
 

	
$

	
14,000

	
 

	
 

	
$

	
3,000

	
 

	
 

	
 

	
$

	
3,000

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