Document:

exv10w14

 

Exhibit 10.14

Form of Memorandum of Amendment

	 	 	 
	To:

	 	Sam K. Reed
	

	 	David B. Vermylen
	

	 	E. Nichol McCully
	

	 	Thomas E. O’Neill
	

	 	Harry J. Walsh
	 
	 	 
	From:

	 	Edward Fugger, Vice President — Dean Foods Company
	 
	 	 
	Date:
	 	 
	 
	 	 
	Re:

	 	Amendments to Your Employment Agreement and the Stockholders Agreement

     This memorandum is intended to amend that certain Employment Agreement dated as of January 27,
2005 (the “Employment Agreement”) by and between TreeHouse Foods, Inc., f/k/a Dean Specialty Foods
Holdings, Inc. (the “Company”), and you pursuant to Section 10(k) of the Employment Agreement.
This memorandum is further intended to amend that certain Stockholders Agreement dated as of
January 27, 2005 (the “Stockholders Agreement”) among the Company, Dean Foods Company, all of you
and certain other individuals who may become a party thereto, pursuant to Section 12 of the
Stockholders Agreement.

     Employment Agreement

     Section 6(b) of the Employment Agreement shall be deemed amended by this memorandum such that
for purposes of the Employment Agreement, the term “Initial Fair Market Value” shall mean
the closing price on the first day of regular way trading of the Common Stock (the “Pricing
Date”), as reported on the New York Stock Exchange. Further, all references in the Employment
Agreement and Exhibit A thereto to the “fourth trading day following the Registration Date” shall
be amended to refer instead to the Pricing Date such that the Basic Restricted Shares, the
Supplemental Restricted Share Units and the Option shall be granted to you on the Pricing Date.

     Stockholder Agreement

     Dean acknowledges that the taxes to be reimbursed by the Company pursuant to Section 4.2(a) of
the Stockholder Agreement will be limited to taxes incurred as a result of (a) the distribution by
DIPS LP as part of the Restructuring Transactions of a 99.99 percent limited partnership interest
in LPS I to Pickle, (b) the distribution by DIPS LP as part of the Restructuring Transactions of a
0.01 percent general partner interest in LPS I to Pickle and (c) the taking into account of
“intercompany items” resulting from the transactions described in clauses (a), and (b) pursuant to
Section 1.1502-13 of the Treasury Regulations because of and in

 

 

Memorandum of Amendment

Page 2

connection with the Distribution; provided, that the Company’s liability for such taxes shall
be limited to $20 million. (Capitalized terms in the preceding sentence shall have the meaning
ascribed to them under the Tax Sharing Agreement between Dean and the Company.)

     The Company and Dean agree (x) to cooperate using their good faith efforts to determine the
appropriate value of the intellectual property used to calculate such taxes and the resulting Tax
Reimbursement Amount to be paid by the Company to Dean pursuant to Section 4.3(b) of the
Stockholders Agreement, and (y) that in all events the Tax Reimbursement Amount shall be determined
no later than September 30, 2005. The number of additional shares which will be issued to the
TreeHouse Investors pursuant to Section 4.3(b) of the Stockholders Agreement in connection with the
payment of any Tax Reimbursement Amount by the Company shall be calculated, and such shares shall
be issued to the TreeHouse Investors, promptly after determination of the Tax Reimbursement Amount,
but in no event later than October 14, 2005. Lastly, Section 4.3(b) of the Stockholders Agreement
shall be deemed amended by this memorandum such that “Dean Owned Shares” and “Current
Common Stock Outstanding” shall mean 118,000 and 120,000 shares, respectively, which numbers of
shares shall be subject to adjustment as contemplated by Section 14 to reflect the stock split to
effectuate the spin-off.

     The Employment Agreement and Stockholders Agreement remain in full force and effect, except as
expressly amended above.

     I have signed this memorandum on behalf of both the Company and Dean Foods Company. If the
foregoing meets with your approval, please countersign this memorandum and return a copy to my
attention.

	 	 	 
	Dean Foods Company

	 	TreeHouse Foods Inc., f/k/a
	

	 	Dean Specialty Foods Holdings, Inc.
	 
	 	 
	By: 

	 	By:

	Name: Edward Fugger

	 	Name: Edward Fugger
	Title: Vice President

	 	Title: Vice President — Dean Foods Company
	 
	 	 
	ACCEPTED AND AGREED as of this     day of      , 2005:
	 
	 	 
	

	 	

	Sam K. Reed, individually and

	 	David B. Vermylen
	as the TreeHouse Representative
	 	 
	 
	 	 
	

	 	

	E. Nichol McCully

	 	Thomas E. O’Neill
	 
	 	 
	

	 	 
	Harry J. Walshexv4w1

 

INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

Floating-Rate Non-Cumulative Preferred Stock, Series B

SLM CORPORATION

CUSIP 78442P 50 2

See Reverse for

Certain Definitions

This is to Certify that __________________is the owner of
_______________fully paid and
non-assessable shares of the above Corporation transferable only on the books of the
Corporation by the holder hereof in person or by duly authorized Attorney upon
Surrender of this Certificate properly endorsed.

Witness, the seal of the Corporation and the signatures of its duly authorized officers.

Dated

COUNTERSIGNED AND REGISTERED:

	 	 	 	 	 
	

	 	THE BANK OF NEW YORK	 	 
	

	 	TRANSFER AGENT AND REGISTRAR
	 	Executive Vice President, Finance
	BY:
	 	 	 	 
	

	 	Authorized Signature
	 	Secretary

 

 

     The following abbreviations, when used in the inscription on the face of this certificate,
shall be construed as though they were written out in full according to applicable laws or
regulations:

	 	 	 	 	 
	TEN COM

	 	as tenants in common
	 	UNIF GIFT MIN ACT             Custodian
	

	 	 	 	                                                             (Cust)            (Minor)
	 
	 	 	 	 
	TEN ENT

	 	- as tenants by the entireties
	 	- under Uniform Gifts to Minors
	

	 	 	 	Act
	

	 	 	 	                                                                  (State)
	 
	 	 	 	 
	JT TEN

	 	- as joint tenants with right of	 	 
	

	 	Survivorship and not as tenants	 	 
	

	 	In common	 	 

Additional abbreviations may also be used though not in the above list

For value received ___hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE)

__________________________________________________________________________________________________Shares

represented by the within Certificate, and do hereby irrevocably
constitute and appoint

_________________________________________________________________________________Attorney

to transfer the said Shares on the books of the within named
Corporation with full power of substitution in the premises.

Dated _______________ 19____

             In presence of

______________________

________________________

SLM CORPORATION

SLM CORPORATION WILL FURNISH WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO REQUESTS A STATEMENT OR
SUMMARY OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL, OR OTHER
SPECIAL RIGHTS OF EACH CLASS OF STOCK OR SERIES THEREOF WHICH THE CORPORATION IS AUTHORIZED TO
ISSUE AND OF THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND/OR RIGHTS.
ANY SUCH REQUEST IS TO BE ADDRESSED TO THE TRANSFER AGENT.exv10w1

 

MASTER CONSULTING AGREEMENT #Xyvogt -001

	1.  	Effective the 1st day of January 2003, Dr. Edwin Vogt, (an
individual), (“Consultant”) shall resign his position as an officer and employee of
Xybernaut Corporation and/or Xybernaut GmbH (“Xybernaut”) and serve as a consultant
to Xybernaut until such time as this Agreement is terminated. Consultant’s duties,
deliverables and compensation hereunder shall be set forth in separate work orders
pursuant to this Agreement. This Agreement, in the absence of an executed work
order does not authorize Consultant to begin work hereunder. Consultant understands
and agrees that his status as an agent and officer of the Company has changed
effective with the date of this Agreement and that at all times hereafter he shall
accurately identify himself to third parties as a consultant for Xybernaut and not
as an employee or officer of the Company. Consultant acknowledges and agrees that
he has no authority to bind Xybernaut to any terms, conditions or obligations or to
sign agreements or other instruments on behalf of Xybernaut and shall not do so.

	2.  	Xybernaut will pay Consultant the compensation contained in an authorized
work order under this Agreement. All compensation provided for herein and all
payments to Consultant hereunder shall be in US dollars. All services and work
shall be performed in a timely manner and to Xybernaut’s satisfaction in compliance
with the terms and conditions of individual work orders. Consultant shall invoice
Xybernaut for work performed and shall itemize all invoices that seek compensation
under an hourly rate of pay or as a sales commission. Payment, including approved
expenses, will be due thirty (30) days after receipt of invoice. All travel related
expenses should first be coordinated with Xybernaut. Reimbursable expenses shall be
subject to appropriate documentation and shall be reimbursed at cost.

	3.  	Consultant has received confidential information of Xybernaut and third
parties that have done business with Xybernaut as result of his position as an
officer and employee of Xybernaut. Consultant agrees that all requirements of
confidentiality that obligated him in his position as an officer and employee of
Xybernaut shall remain in full force and effect and be incorporated into and
continued under this Agreement. Consultant further understands that Xybernaut
personnel and/or Xybernaut customers, vendors or other consultants may communicate
or disclose additional confidential information to Consultant in connection with
the Consultant’s responsibilities under this Agreement. Consultant agrees to
receive all such information in confidence and not to use or disclose to anyone
such information, and/or reports, conclusions or recommendations given to or
received through Xybernaut or Xybernaut’s customers, vendors or other consultants
in any manner at any time except with the prior written consent of Xybernaut.
Consultant further agrees to send to Xybernaut, prior to submission for
publication, copies of technical papers or articles relative to subjects on which
advice or services have been given to Xybernaut.

	4.  	Consultant understands that he may be called upon to render consultation
services in various fields of interest to Xybernaut. Any field in which Consultant
agrees to render consulting services under an approved work order is covered by all
the terms of this Agreement unless exempted in writing or specifically superseded
by a subsequent written agreement between the Parties.

	5.  	Consultant acknowledges he has no agreement with or obligations to
others in conflict with the foregoing and that he does not own or have an interest
in any intellectual property or unpatented invention.

	6.  	During the period of serving as a consultant for Xybernaut, Consultant
shall present suggestions and ideas in reference to various problems or projects,
which may have been submitted to Consultant under this Agreement and Consultant
agrees that Xybernaut is free to use such ideas or suggestions without obligation
to Consultant.

	7.  	With respect to inventions, discoveries, and patents resulting from
Consultant’s performance hereunder in any field in which Consultant agrees to, or
actually does give advice or consultation or has knowledge of as result of his
prior employment with the Company, Consultant agrees to and does assign to
Xybernaut all of Consultant’s right, title and interest in inventions, discoveries,
and

 

 

Consulting Agreement
Page 2

	   	patents worldwide with the full right to grant sublicenses under all such
inventions, discoveries and/or patents throughout the world. Consultant shall
assist Xybernaut or its nominees, at no expense to Consultant, in any proper way to
obtain and maintain for their benefit patents for any inventions or discoveries
relating to consultation under this Agreement. If an invention, discovery or patent
hereunder is also relevant to fields or activities in which Xybernaut has no
interest, Xybernaut may grant Consultant an exclusive or non-exclusive license with
the right to sublicense the use of any such invention or discovery or patent.

	8.  	Consultant is an independent contractor and will procure during the
term of this agreement all adequate and required insurance coverage including but
not limited to worker’s compensation insurance. Consultant shall at all times
comply with all internal Xybernaut rules, policies and guidelines, including but
not limited to Xybernaut’s policy prohibiting sexual harassment, while providing
services on-site or off-site in the scope of services for Xybernaut. Consultant
understands and agrees that he is not an employee of the Company and therefore not
entitled to receive any employee benefits offered by the Company under any employee
benefit plans adopted by Xybernaut from time to time.

	9.  	This Agreement may be terminated at any time upon notice in writing by
either party to the other. The obligations of Paragraphs 3 and 7 shall survive
termination of this Agreement for any reason. The obligations of Paragraph 7 shall
continue for as long as is necessary for Consultant to complete any necessary
activities relative to inventions and worldwide patents.

	10.  	The Consultant’s rights and duties under this Agreement may not be
assigned without Xybernaut’s written permission. Any assignment without permission
shall be deemed null and void.

	11.  	If Xybernaut loans the Consultant any equipment or documents for use in
performing the services, all such equipment and documents remain the property of
Xybernaut and shall be promptly returned upon the completion of services, or
earlier upon Xybernaut’s request.

	12.  	This Agreement shall be construed and governed in accordance with the
laws of the Commonwealth of Virginia, USA without regard to Virginia’s conflict of
laws provisions. The parties agree that any dispute arising under this Agreement
shall be subject to the exclusive jurisdiction of the appropriate court seated in
Northern Virginia, USA.

	13.  	This Agreement and any work order duly executed hereunder shall
constitute the sole and complete agreement between the parties on the subject
matter contained herein. There are no other verbal or written agreements between
the parties which are not contained in the written terms of this Agreement or a
duly executed work order. This Agreement and any work order entered into hereunder
can only be amended or modified by a written document signed by both parties.

	 	 	 	 	 
	

	 	Consultant:
	 	Xybernaut Corporation:
	 
	 	 	 	 
	

	 	/s/ Edwin Vogt
	 	By: /s/ Edward G. Newman
	 
	 	 	 	 
	

	 	Dated: 02/25/2003
	 	Dated:                     

 

 

Consulting Agreement
Page 3

WORK ORDER #1

CONSULTING AGREEMENT # Xyvogt-001

     This Work Order is entered into subject to the Master Consulting Agreement #Xyvogy-001 (the
“MCA”) entered into between the parties on the 1st day of January 2003 and is controlled
by the terms and conditions contained therein. Unless expressly stated as an amendment herein,
nothing contained in this Work Order shall be deemed to amend or otherwise modify any of the terms
and conditions of the MCA and in the event of any conflict between this Work Order and the MCA the
terms of the MCA shall control.

Scope of Work: For the period beginning the 1st day of January 2003 and continuing until
terminated by either party (pursuant to the terms included in this paragraph), Consultant shall
provide services representing Xybernaut related to research and development, product, sales,
marketing, finance and other special projects that may be assigned from time to time. This
agreement will continue on a quarterly basis and may be terminated by either party provided that
notification of such termination is made to the other party within 30 days of the end of the
calendar quarter. If notification is not made within such time period, the agreement will be
considered terminated at the end of the next calendar quarter.

Consultant shall report directly to Edward G. Newman, who may direct Consultant to coordinate such
activities with other employees or consultants of Xybernaut.

Fees: In compensation for said services, Consultant shall receive consulting fees totaling Euro
20,000 for the quarter ended March 31, 2003 and Euro 10,000 for every other quarter during the term
of this agreement. The fee for the first quarter ended March 31, 2003 will be due and payable
immediately upon signing this agreement. The fees for the following quarters will be paid on the
last day of each quarter (e.g., June 30, September 30). Consultant may also be entitled to receive
a commission on any sales in which he serves as the originator or facilitator of the sale to
potentially be determined in the future to the agreement of both parties. Any additional expenses
relating to Consultant’s work hereunder shall be approved in writing by Edward G. Newman prior to
incurring the expense. Consultant agrees to submit the written approval with the expense report for
reimbursement.

Additionally, Consultant will receive a one-time grant of 30,000 stock options. The exercise price
of these stock options will be based on the closing market price of XYBR common stock on the date
this agreement is executed. These stock options will vest in four equal installments of 7,500
options on each of March 31, 2003, June 30, 2003, September 30, 2003 and December 31, 2003.
Related to Consultant’s other stock options received as either a Xybernaut director or officer,
those stock options will not expire upon termination of Consultant’s employment as of January 1,
2003. Instead, such options will continue to remain exercisable and continue to vest according to
the original vesting periods until such time that this consulting agreement is terminated.

The above terms and conditions of this Work Order are subject to all terms and conditions of the
Master Consulting Agreement referenced herein and are hereby accepted and agreed to:

	 	 	 	 	 
	

	 	XYBERNAUT CORPORATION
	 	CONSULTANT:
	 
	 	 	 	 
	

	 	By: /s/ Edward G. Newman
	 	By: /s/ Edwin Vogt
	 
	 	 	 	 
	

	 	Title:                     
	 	Name: Edwin Vogt
	 
	 	 	 	 
	

	 	Date:                     
	 	Date: 02/25/2003

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