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Exhibit 10.7

SHARED SERVICES AGREEMENT
by and between
D.R. HORTON, INC.
And
FORESTAR GROUP INC.
DATED AS OF OCTOBER 6, 2017

SHARED SERVICES AGREEMENT

This SHARED SERVICES AGREEMENT, dated as of October 6, 2017 (this “Services Agreement”), is entered into by and between D.R. HORTON, INC., a Delaware corporation (“D.R. Horton”), and FORESTAR GROUP INC., a Delaware corporation and majority owned Subsidiary of D.R. Horton (“Forestar”). Capitalized terms used herein but not defined herein shall have the meaning set forth in that certain Agreement and Plan of Merger (“Merger Agreement”) by and among D.R. Horton, Inc., Force Merger Sub, Inc. and Forestar Group Inc., dated June 29, 2017 or in that certain Stockholder’s Agreement (“Stockholder’s Agreement”) by and between Forestar Group Inc. and D.R. Horton, Inc. dated June 29, 2017 or in that certain Master Supply Agreement (“Master Supply Agreement”) between D.R. Horton, Inc. and Forestar Group Inc. dated June 29, 2017.

WHEREAS, pursuant to the Merger Agreement, on October 5, 2017, D.R. Horton acquired approximately 75% of the common stock of Forestar and at that time Forestar became a majority owned subsidiary of D.R. Horton.

WHEREAS, upon closing of the merger (“Merger”) pursuant to the Merger Agreement, Forestar will continue to be a publicly traded company whose common stock will be traded on the New York Stock Exchange;

WHEREAS, in connection with the closing of the Merger, (a) Forestar desires to procure certain services from D.R. Horton, and D.R. Horton is willing to provide such services to Forestar, during a period commencing on the Effective Date, on the terms and conditions set forth in this Services Agreement.

NOW THEREFORE, in consideration of the mutual agreements, covenants and other provisions set forth in this Services Agreement, the Parties hereby agree as follows:

ARTICLE I

Definitions

1.1. All terms used herein and not defined herein shall have the meanings assigned to them in the Merger Agreement, the Stockholder’s Agreement or the Master Supply Agreement.

ARTICLE II

Agreement To Provide and Accept Services

2.1 Provision of Services.
(a) On the terms and subject to the conditions contained herein, D.R. Horton shall provide, or shall cause its Subsidiaries and Affiliates and their respective employees designated by D.R. Horton (such designated Subsidiaries, Affiliates and employees, together with D.R. Horton, being herein collectively referred to as (“Service Providers” or “D.R. Horton”) to provide, to Forestar, the services or equipment listed on the Schedule of Services (see Schedules attached to this Agreement) agreed upon and exchanged between the Parties on the date hereof (the “Services Schedule”) as being performed by D.R. Horton. Subject to Section 3.1, all decisions as to which Service Providers (including the decisions to use third parties) shall provide the Services shall be made by D.R. Horton in its sole discretion, except to the extent specified in the Services Schedule. Each D.R. Horton Service shall be provided in exchange for the consideration set forth with respect to such D.R. Horton Service on the Services Schedule or as the Parties may otherwise agree in writing. Each D.R. Horton Service shall be provided and accepted in accordance with the terms, limitations and conditions set forth herein and on the Services Schedule.

2.2 Books and Records; Availability of Information. D.R. Horton shall maintain reasonable invoicing procedures and related records in connection with the provision of the Services performed or caused to be performed by it and, upon reasonable notice from Forestar, shall make available for review by such other Forestar’s agents such books and records during reasonable business hours with such review occurring no more than one (1) time during a fiscal quarter. Moreover, such review shall be conducted by Forestar or its agents in a manner that will not unreasonably interfere with the normal business operations of the Service Provider. Forestar shall make available on a timely basis to the Service Providers all information and materials reasonably requested by such Service Providers to enable them to provide the Services. Forestar shall provide to the Service Providers reasonable access to Forestar’s premises to the extent necessary for the purpose of providing the Services.

ARTICLE III

Services; Payment; Independent Contractors

3.1. Services To Be Provided.

(a) Unless otherwise agreed by the Parties (including to the extent specified on the Services Schedule), (i) the Service Providers shall be required to perform the Services only in a manner, scope, nature and quality as provided by or within D.R. Horton that is similar in all material respects to the manner in which such Services were performed immediately prior to the Effective Date, and (ii) the Services shall be used for substantially the same purposes and in substantially the same manner (including as to volume, amount, level or frequency, as applicable) as the Services have been used immediately prior to the Effective Date; provided, however, that the Services Schedule shall control the scope of the Service to be performed (to the extent provided therein) unless otherwise agreed in writing. Each Party and the Service Providers shall act under this Services Agreement solely as an independent contractor and not as an agent or employee of any other Party or any of such Party’s Affiliates. As an independent contractor, all overhead and personnel necessary to the Services required of the Service Providers hereunder shall be the Service Provider’s sole responsibility and shall be at the Service Provider’s sole cost and expense. No Service Provider shall have the authority to bind Forestar by contract or otherwise.

(b) The provision of Services by Service Providers shall be subject to Article V hereof.

3.2. The Parties will use good-faith efforts to reasonably cooperate with each other in all matters relating to the provision and receipt of Services. Such cooperation shall include obtaining all consents, licenses or approvals necessary to permit each Party to perform its obligations hereunder; provided, however, under no circumstances shall any Service Provider be required to make any payments to any third party in respect of any such consents, licenses or approvals nor shall any Service Provider be required to make any alternative arrangements in the event that any such consents, licenses or approvals are not obtained.

3.3. Additional Services.

(a) From time to time during the term, Forestar may request D.R. Horton (i) to provide additional (including as to volume, amount, level or frequency, as applicable) or different services which D.R. Horton is not expressly obligated to provide under this Agreement if such services are of the type and scope provided within D.R. Horton, (ii) to expand the scope of any Service (such additional or expanded services, the “Additional Services”). If D.R. Horton receives such request it shall consider such request in good faith and shall use reasonable efforts to provide such Additional Services; provided, D.R. Horton shall not be obligated to provide any Additional Services if it does not, in its judgment, have adequate resources to provide such Additional Services or if the provision of such Additional Services would interfere with the operation of its business. If D.R. Horton receives the request for Additional Services, it shall notify the Forestar within fifteen (15) calendar days as to whether it will or will not provide the Additional Services.

(b) If D.R. Horton agrees to provide Additional Services pursuant to Section 3.03(a), then a representative of each party shall in good faith negotiate the terms of a supplement to the Services Schedule which will describe in detail the service, project scope, term, price and payment terms to be charged for the Additional Services. Once agreed to in writing, the supplement to the Services Schedule shall be deemed part of this Services Agreement as of such date and the Additional Services shall be deemed “Services” provided hereunder, in each case subject to the terms and conditions of this Agreement.

3.4. Payments. Except as may be set forth on the Services Schedule, statements will be delivered to Forestar within 15 calendar days after the end of each month by D.R. Horton for Services provided to Forestar during the preceding month, and each such statement shall set forth a brief description of such Services, the amounts charged therefor, and, except as the parties may agree or as set forth on the Services Schedule, such amounts shall be due and payable by the Receiving Party within 30 calendar days after the date of such statement. Statements not paid within such 30 day period shall be subject to late charges, calculated at an interest rate per annum equal to the LIBOR plus 2% (or the maximum legal rate, whichever is lower), and calculated for the actual number of days elapsed, accrued from the date on which such payment was due up to the date of the actual receipt of payment. Payments shall be made by wire transfer to an account designated in writing from time to time by Service Provider.

3.5. Disclaimer of Warranty. EXCEPT AS EXPRESSLY SET FORTH IN THIS SERVICES AGREEMENT, THE SERVICES TO BE PROVIDED UNDER THIS SERVICES AGREEMENT ARE FURNISHED AS IS, WHERE IS, WITH ALL FAULTS AND WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.

3.6. Taxes. In the event that any Tax is properly chargeable on the provision of the Services as indicated on the Services Schedule, Forestar shall be responsible for and shall pay the amount of any such Tax in addition to and at the same time as the Service fees. All Service fees and other consideration will be paid free and clear of and without withholding or deduction for or on account of any Tax, except as may be required by law.

3.7. Use of Services. Forestar shall not, and shall cause its Affiliates not to, resell any Services to any person whatsoever or permit the use of the Services by any person other than in connection with Forestar’s ongoing operations.

ARTICLE IV

Term of Services

4.1. The provision of Services shall commence on the Effective Date and shall terminate 30 calendar days after it is determined that D.R Horton owns less than 20% of the fully diluted common stock of Forestar, unless mutually agreed in writing by both parties to continue the agreement. The foregoing notwithstanding and subject to Section 7.2, (i) D.R. Horton may immediately terminate any single or multiple Service provided to Forestar in the event that Forestar fails to make payments for such Service under Section 3.4 and has not cured such failure within thirty (30) days of written notice of such failure from D.R. Horton, and (ii) upon ninety (90) days’ written notice, D.R. Horton may terminate any Service provided to Forestar at such time as D.R. Horton no longer provides the same Service to itself for its own account.

4.2. In the event Forestar requests an extension of the term applicable to the provision of Services, such request shall be considered in good faith by D.R. Horton. Any terms, conditions or costs or fees to be paid by Forestar for Services provided during an extended term will be on mutually acceptable terms. For the avoidance of doubt, under no circumstances shall D.R. Horton be required to extend the term of provision of any Service if (i) the Service Provider does not, in its reasonable judgment, have adequate resources to continue providing such Services, (ii) the extension of the term would interfere with the operation of D. R. Horton’s business or (iii) the extension would require capital expenditure on the part of D.R. Horton or otherwise require D.R. Horton to renew or extend any Contract with any third party.

ARTICLE V

Force Majeure

5.1. The Service Providers shall not be liable for any expense, loss or damage whatsoever arising out of any interruption of Service or delay or failure to perform under this Services Agreement that is due to acts of God, acts of a public enemy, acts of terrorism, acts of security breach or data breach, acts of a nation or any state, territory, province or other political division thereof, changes in applicable law, fires, hurricanes, floods, epidemics, riots, theft, quarantine restrictions, freight embargoes or other similar causes beyond the reasonable control of the Service Providers. In any such event, the Service Providers’ obligations hereunder shall be postponed for such time as its performance is suspended or delayed on account thereof. The Service Provider will promptly notify the recipient of the Service, either orally or in writing, upon learning of the occurrence of such event of the force majeure. Upon the cessation of the force majeure event, such Service Provider will use commercially reasonable efforts to resume, or to cause any other relevant Service Provider to resume, its performance with the least practicable delay.

ARTICLE VI

Liabilities
6.1. Consequential and Other Damages. None of the Service Providers shall be liable to Forestar with respect to this Services Agreement, whether in contract, tort (including negligence and strict liability) or otherwise, for any special, indirect, incidental or consequential damages whatsoever which in any way arise out of, relate to or are a consequence of, the performance or nonperformance by it hereunder or the provision of, or failure to provide, any Service hereunder, including with respect to loss of profits, business interruptions or claims of customers.

6.2. Limitations of Liability. Subject to Section 6.3 hereof, the liability of any Service Provider with respect to this Services Agreement or any act or failure to act in connection herewith (including, but not limited to, the performance or breach hereof), or from the sale, delivery, provision or use of any Service provided under or covered by this Services Agreement, whether in contract, tort (including negligence and strict liability) or otherwise, shall be limited to actions or omissions resulting from intentional breach of this Services Agreement or gross negligence, and, in any event, such liability shall not exceed the fees previously paid to such Service Provider under this Services Agreement.

6.3. Obligation To Re-perform. In the event of any breach of this Services Agreement by any Service Provider resulting from any error or defect in the performance of any Service (which breach such Service Provider can reasonably be expected to cure by re-performance in a commercially reasonable manner), the Service Provider shall use its reasonable commercial efforts to correct in all material respects such error, defect or breach or re-perform in all material respects such Service upon receipt of the written request of Forestar.

6.4. Indemnity. Except as otherwise provided in this Service Agreement (including the limitation of liability provisions in this Article VI), each Party shall indemnify, defend and hold harmless the other Party from and against any Liability arising out of the intentional breach hereunder or gross negligence of the Indemnifying Party or its Affiliates, employees, agents, or contractors (including with respect to the performance or nonperformance of any Service hereunder).

ARTICLE VII

Termination

7.1. Termination. Notwithstanding anything herein to the contrary, this Services Agreement shall terminate, and the obligation of the Service Providers to provide or cause to be provided any Service shall cease, on the earliest to occur of (i) thirty (30) calendar days after it is determined that D.R Horton owns less than 20% of the fully diluted common stock of Forestar, or (ii) the date on which the provision of all Services has been terminated or canceled pursuant to Article IV hereof, or (iii) by mutual written consent of both D.R. Horton and Forestar.

7.2. Breach of Services Agreement; Dispute Resolution. Subject to Article VI hereof, and without limiting a Party’s obligations under Section 4.1, if a Party shall cause or suffer to exist any material breach of any of its obligations under this Services Agreement, including any failure to make a payment within thirty (30) days after receipt of the statement describing the Services provided for pursuant to Section 3.4 with respect to more than one Service provided hereunder, and that Party does not cure such default in all material respects within 30 days after receiving written notice thereof from the non-breaching Party, the non-breaching Party shall have the right to terminate this Services Agreement immediately thereafter.

7.3. Sums Due. In addition to any other payments required pursuant to this Services Agreement, in the event of a termination of this Services Agreement, the Service Providers shall be entitled to the immediate payment of, and Forestar shall within 15 Business Days, pay to the Service Providers, all accrued amounts for Services, Taxes and other amounts due under this Services Agreement as of the date of termination.

7.4. Effect of Termination. Section 2.2 hereof and Articles V, VI, VII and VIII hereof shall survive any termination of this Services Agreement.

ARTICLE VIII

Miscellaneous

8.1. Ownership of Work Product. Subject to the terms of the Separation Agreement, (i) each Service Provider acknowledges and agrees that it will acquire no right, title or interest (including any license rights or rights of use) to any work product resulting from the provision of Services hereunder for Forestar’s exclusive use and such work product shall remain the exclusive property of Forestar and (ii) Forestar acknowledges and agrees that it will acquire no right, title or interest (other than a non-exclusive, worldwide right of use) to any work product resulting from the provision of Services hereunder that is not for Forestar’s exclusive use and such work product shall remain the exclusive property, subject to license, of the Service Provider.

IN WITNESS WHEREOF, the Parties have caused this Services Agreement to be executed by their duly authorized representatives.
									
		D.R. HORTON, INC.
			
			
		By:	/s/ Michael J. Murray
		Name:	Michael J. Murray
		Title:	Executive Vice President and
			Chief Operating Officer
			
			
		FORESTAR GROUP, INC.
			
			
		By:	/s/ Donald J. Tomnitz
		Name:	Donald J. Tomnitz
		Title:	Executive Chairman

SCHEDULE 1
 Accounting, Finance and Treasury Services

[Omitted pursuant to Regulation S-K, Item 601(a)(5)]

SCHEDULE 2
 Tax Services

[Omitted pursuant to Regulation S-K, Item 601(a)(5)]

SCHEDULE 3
 Human Resources, Employment, Payroll and Benefits Services

[Omitted pursuant to Regulation S-K, Item 601(a)(5)]

SCHEDULE 4
 Legal Services – Securities, Corporate Governance and Corporate Secretary

[Omitted pursuant to Regulation S-K, Item 601(a)(5)]

SCHEDULE 5
 Legal Services – Litigation and Risk Management

[Omitted pursuant to Regulation S-K, Item 601(a)(5)]

SCHEDULE 6
 Internal Audit

[Omitted pursuant to Regulation S-K, Item 601(a)(5)]

SCHEDULE 7
 Information Technology

[Omitted pursuant to Regulation S-K, Item 601(a)(5)]

SCHEDULE 8
 Investor and Public Relations

[Omitted pursuant to Regulation S-K, Item 601(a)(5)]Document

Exhibit 4.2

DESCRIPTION OF SECURITIES 
REGISTERED UNDER TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 
Our common stock, par value $0.01 per share (“Common Stock”), is the only class of our securities registered under the Securities Exchange Act of 1934, as amended. We are authorized to issue 600,000,000 shares of Common Stock. Below is summary of the material rights of our Common Stock. This summary is qualified by reference to the provisions of our Second Restated Certificate of Incorporation (the “Certificate of Incorporation”) and Amended and Restated Bylaws (the “Bylaws”), copies of which are filed as exhibits to our Annual Report on Form 10-K.
Common Stock 
Voting Rights. Holders of Common Stock are entitled to one vote per share on all matters submitted to a vote of our stockholders. 
Dividend Rights. Subject to preferences that may be applicable to any preferred stock outstanding at the time, the holders of Common Stock are entitled to receive ratably any dividends out of assets legally available as our board of directors (“Board of Directors”) may from time to time determine. Under Delaware law, we can only pay dividends either out of “surplus” or out of the current or immediately preceding year’s net profits. Surplus is defined as the excess, if any, at any given time, of the total assets of a corporation over its total liabilities and statutory capital. The value of a corporation’s assets can be measured in a number of ways and may not necessarily equal their book value.
Liquidation Rights. Upon liquidation, dissolution or winding up, holders of Common Stock are entitled to share ratably in all assets remaining after payment of liabilities and the liquidation preference of any then outstanding shares of preferred stock.
Other Matters. The Common Stock has no preemptive or conversion rights or other subscription rights. There are no redemption or sinking fund provisions applicable to the Common Stock. All outstanding shares of our Common Stock are fully paid and nonassessable. Any shares of Common Stock will be issued in book entry form only.

Composition of Board of Directors; Election and Removal of Directors

            In accordance with our Certificate of Incorporation and our Bylaws, the number of directors constituting the entire Board of Directors shall be not less than six nor more than 11. The specific number of directors constituting the entire Board of Directors shall be as authorized from time to time exclusively by the affirmative vote of a majority of the Board of Directors. The Board of Directors has taken, and will continue to take, all actions necessary to comply with the applicable stock exchange rules, including appointing a majority of independent directors to the Board of Directors, and compensation and nominating and governance committees comprised entirely of independent directors.

We currently have ten directors. Each director holds office until his or her successor is duly elected and qualified or until his or her earlier resignation or removal. Directors are elected by the affirmative vote of the majority of the votes cast by the holders of such class or classes or series entitled to vote, meaning that the number of votes cast “for” a director’s election exceeds the number of votes cast “against” that director’s election.

Any vacancies on our Board of Directors caused by resignation or removal from office, increase in number of directors or otherwise may be filled only by the affirmative vote of a majority of the remaining directors, even if less than a quorum, or by a sole remaining director. Our Certificate of Incorporation provides that stockholders do not have the right to cumulative votes in the election of directors. At any meeting of our Board of Directors, except as otherwise required by law, a majority of the total number of directors that the company would have if there were no vacancies constitutes a quorum for all purposes.

Subject to the rights of holders of our capital stock (other than Common Stock) then outstanding, any director, or the entire Board of Directors, may be removed from office at any time prior to the expiration of his, her or their term of office, with or without cause, by the affirmative vote of a majority of the holders of record of outstanding shares our capital stock then entitled to vote generally in the election of directors, voting together as a single class. A director may resign at any time by giving written notice to the corporation, addressed to the President or the Secretary. Such resignation shall take effect at the date of receipt of such notice or at any later time specified therein.

Certain Corporate Anti-Takeover Provisions 
Certain provisions in our Certificate of Incorporation and Bylaws summarized below may be deemed to have an anti-takeover effect and may delay, deter or prevent a tender offer or takeover attempt that a stockholder might consider to be in its best interests, including attempts that might result in a premium being paid over the market price for the shares held by stockholders.

Preferred Stock
Our Certificate of Incorporation contains provisions that permit our Board of Directors to issue shares of preferred stock with such designations, powers, preferences and other rights and qualifications, limitations or restrictions as our Board of Directors may authorize, without further action by our stockholders, including but not limited to:
a.the distinctive designation of each series and the number of shares that will constitute such series;
b.the voting rights, if any, of shares of the series and the terms and conditions of such voting rights;
c.the dividend rate on the shares of the series, the dates on which dividends are payable, any restriction, limitation or condition upon payment of dividends, whether dividends will be cumulative and the dates from and after which dividends shall accumulate;
d.the prices at which, and the terms and conditions on which, the shares of the series may be redeemed, if such shares are redeemable;
e.the terms and conditions of a sinking or purchase fund for the purchase or redemption of shares of the series, if such a fund is provided;
f.any preferential amount payable upon shares of the series in the event of the liquidation, dissolution or winding up of, or upon the distribution of any of our assets; and
g.the prices or rates of conversion or exchange at which, and the terms and conditions on which, the shares of such series may be converted or exchanged into other securities, if such shares are convertible or exchangeable.

Removal of Directors; Vacancies
Our Bylaws provide that, subject to the rights of holders of our capital stock (other than Common Stock) then outstanding, any director, or the entire Board of Directors, may be removed from office at any time prior to the expiration of his, her or their term of office, with or without cause, by the affirmative vote of a majority of the holders of record of outstanding shares our capital stock then entitled to vote generally in the election of directors, voting together as a single class.
Vacancies on our Board of Directors may be filled only by a majority of our Board of Directors then in office, even if less than a quorum.

No Cumulative Voting
Our Certificate of Incorporation provides that stockholders do not have the right to cumulative votes in the election of directors. Cumulative voting rights would be available to the holders of our Common Stock if our Certificate of Incorporation did not negate cumulative voting.

No Stockholder Action by Written Consent
Our Certificate of Incorporation provides that any action required or permitted to be taken by the stockholders of the company may be taken without a meeting by written consent only if a “Permitted 

Holder” (as defined in the Certificate of Incorporation) is, at such time, the beneficial owner of at least 50% of the voting power of all shares entitled to vote on the election of directors. Otherwise, any action required or permitted to be taken by the stockholders of the company must be effected at a duly called annual or special meeting. Currently, there is no Permitted Holder who is the beneficial owner of at least 50% of the voting power of all shares entitled to vote on the election of directors.

Limitations on Calling Special Meetings
Our Bylaws provide that meetings of stockholders of the corporation may be called only by the Board of Directors. Only such business shall be conducted at a special meeting of stockholders as shall have been brought before the meeting pursuant to the corporation’s notice of meeting.

Advance Notice Requirements for Stockholder Proposals and Director Nominations
Our Bylaws provide that any stockholder who intends to bring any matter before an annual meeting of stockholders must provide timely notice thereof in writing. To be timely, a stockholder’s notice must be delivered to and received by the Secretary of the corporation not less than 90 calendar days nor more than 120 calendar days prior to the first anniversary of the date that the corporation’s proxy statement was released to stockholders in connection with the preceding year’s annual meeting; provided, however, that in the event that the date of such meeting has been changed by more than 30 calendar days from the date of the preceding year’s annual meeting, notice by the stockholder to be timely must be delivered not earlier than 120 calendar days prior to such annual meeting nor later than the close of business on the 90th calendar day prior to such annual meeting or, if the first public announcement of the date of such annual meeting is less than 100 days prior to the date of such annual meeting, the tenth calendar day following the day on which public announcement of the date of such meeting is first made.
Our Bylaws also specify certain requirements as to the form and content of a stockholder’s notice. These provisions may preclude stockholders from bringing matters before an annual meeting of stockholders or from making nominations for directors at a meeting of stockholders.

            Amendment of Our Certificate of Incorporation
            The affirmative vote of the holders of record of outstanding shares representing at least 80% of the voting power of all of the shares of our capital stock then entitled to vote generally in the election of directors, voting together as a single class, shall be required to amend, alter, change, repeal or adopt any provision or provisions inconsistent with, Section 4.3(c)(iii), Article V, Article VI, Article VII, Article VIII or Article IX.

            Amendment of our Bylaws
            Our Certificate of Incorporation and Bylaws provide that the Bylaws may be adopted, amended or repealed by the stockholders or by the Board of Directors; provided, however, that the affirmative vote of the holders of record of outstanding shares representing at least 80% of the voting power of all of the shares of our capital stock then entitled to vote generally in the election of directors, voting together as a single class, shall be required for the stockholders to amend or repeal Sections 2.02, 2.03 or 9.01 of the Bylaws or to adopt any provision inconsistent therewith.

Limitation of Liability and Indemnification 
Delaware law permits, and our Certificate of Incorporation and Bylaws contains, provisions eliminating a director’s personal liability for monetary damages resulting from a breach of fiduciary duty, except in certain circumstances involving wrongful acts, such as (i) for any breach of the director’s duty of loyalty to the company or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) liability under Section 174 of the Delaware General Corporation Law for improper dividends, repurchases or redemptions of stock or (iv) for any transaction from which the director derives an improper personal benefit. These provisions do not limit or eliminate our rights or any stockholder’s rights to seek non-monetary relief, such as an injunction or 

rescission, in the event of a breach of director’s fiduciary duty. These provisions will not alter a director’s liability under federal securities law. We have put in place agreements with our directors containing provisions indemnifying our directors to the fullest extent permitted by Delaware General Corporation Law. We believe that these provisions will assist us in attracting and retaining qualified individuals to serve as our directors. 

Listing
            Shares of Common Stock are listed on the New York Stock Exchange under the symbol “MWA.”

Transfer Agent 
The transfer agent and registrar for our Common Stock is Computershare Inc.

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