Document:

Exhibit 10.121

Exhibit 10.121

AGREEMENT FOR POST-TERMINATION BENEFITS

Gap Inc. (“Company”) and Jack Calhoun (referred to in the second person) hereby enter into this Agreement for eligibility for certain post-termination benefits.  This Agreement expressly supersedes any and all prior agreements related to such post-termination or severance benefits, including those described in any offer letter under the section entitled “Termination/Severance.”  Company and you hereby agree as follows:

In the event that your employment is involuntarily terminated by the Company for reasons other than For Cause (as defined below) prior to February 13, 2015, the Company will provide you the following after your "separation from service" within the meaning of Section 409A of the Internal Revenue Code (the "Separation from Service”), provided you sign a general release of claims in the form requested by the Company and it becomes effective within 45 calendar days after such Separation from Service (such 45th day, the “Release Deadline”):  

(1) Your then current salary, at regular pay cycle intervals, for eighteen months commencing in the first regular pay cycle following the Release Deadline (the “severance period”).  Payments will cease if you accept other employment or professional relationship with a competitor of the Company (defined as another company primarily engaged in the apparel design or apparel retail business or any retailer with apparel sales in excess of $500 million annually), or if you breach your remaining obligations to the Company (e.g., your duty to protect confidential information, agreement not to solicit Company employees).  Payments will be reduced by any compensation you receive (as received) during the severance period from other employment or professional relationship with a non-competitor.  

(2) Through the end of the period in which you are receiving payments under paragraph (1) above, if you properly elect and maintain COBRA coverage, payment of a portion of your COBRA premium in a method as determined by the Company. This payment may be taxable income to you and subject to tax withholding.  Notwithstanding the foregoing, the Company’s payment of the monthly COBRA premium shall cease immediately if the Company determines in its discretion that paying such monthly COBRA premium would result in the Company being in violation of, or incurring any fine, penalty, or excise tax under, applicable law (including, without limitation, any penalty imposed for violation of the nondiscrimination requirements under the Patient Protection and Affordable Care Act or guidance issued thereunder).

(3) Through the end of the period in which you are receiving payments under paragraph (1) above, reimbursement for your costs to maintain the same or comparable financial counseling program the Company provides to senior executives in effect at the time of your Separation from Service.  The amount of expenses eligible for reimbursement during a calendar year shall not affect the expenses eligible for reimbursement in any other calendar year.  Reimbursement shall be made on or before the last day of the calendar year following the calendar year in which the reimbursement is incurred but not later than the end of the second calendar year following the calendar year of your Separation from Service.

(4) Prorated Annual Bonus for the fiscal year in which the termination occurs, on the condition that you have worked at least 3 months of the fiscal year in which you are terminated, based on actual financial results and 100% standard for the individual component.  Such bonus will paid in March of the year following termination at the time Annual Bonuses for the year of termination are paid, but in no event later than the 15th day of the third month following the later of the end of the Company’s taxable year or the end of the calendar year in which such termination occurs.

(5) Accelerated vesting (but not settlement) of restricted stock units (“RSUs”) and performance shares that remain subject only to time vesting conditions (excluding any performance shares that remain subject to performance-based vesting conditions) scheduled to vest prior to April 1 following the fiscal year of termination.  Shares of the Company stock in settlement of any vested RSUs and/or performance shares under this section will be delivered on the applicable regularly scheduled vesting 

dates subject to the terms and conditions of the applicable award agreement including, without limitation, the Internal Revenue Code Section 409A six-month delay language thereunder to the extent necessary to avoid taxation under Section 409A of the Internal Revenue Code.

The payments in (1), (3), (4) and (5) above are, and the payment described in (2) above may be, taxable income to you and are subject to tax withholding.  If the aggregate amount that would be payable to you under paragraphs (1), (2), (3) and (4) above through the date which is six months after your Separation from Service (excluding amounts exempt from Section 409A of the Internal Revenue Code under the short-term deferral rule thereunder or Treas. Reg. Section 1.409A-1(b)(9)(v))  exceeds the limit under Treas. Reg. Section 1.409A-1(b)(9)(iii)(A) and you are a “specified employee” under Treas. Reg. Section 1.409A-1(i) on the date of your Separation from Service, then the excess will be paid to you no earlier than the date which is six months after the date of such separation (or such earlier time permitted under Section 409A(a)(2)(B)(i) of the Internal Revenue Code). This delay will only be imposed to the extent required to avoid the tax for which you would otherwise be liable under Section 409A(a)(1)(B) of the Internal Revenue Code.  Any delayed payment instead will be made on the first business day following the expiration of the six month period, as applicable (or such earlier time permitted under Section 409A(a)(2)(B)(i) of the Internal Revenue Code). Payments that are not delayed will be paid in accordance with their terms determined without regard to such delay.  

The term “For Cause” shall mean a good faith determination by the Company that your employment be terminated for any of the following reasons:  (1) indictment, conviction or admission of any crimes involving theft, fraud or moral turpitude; (2) engaging in gross neglect of duties, including willfully failing or refusing to implement or follow direction of the Company; or (3) breaching Gap Inc.’s policies and procedures, including but not limited to the Code of Business Conduct.

At any time, if you voluntarily resign your employment from Gap Inc. or your employment is terminated For Cause, you will receive no compensation, payment or benefits after your last day of employment.  If your employment terminates for any reason, you will not be entitled to any payments, benefits or compensation other than as provided in this letter.

EXECUTIVE
/s/ Jack Calhoun                June 9, 2012        
Jack Calhoun                    Date

THE GAP, INC.
		
	/s/ Glenn Murphy
	            May 22, 2012        

By:  Glenn Murphy                Date
Chairman and CEOExhibit 4.1

 

THE BANK OF NEW YORK MELLON

NEW YORK’S FIRST BANK-FOUNDED 1784 BY ALEXANDER HAMILTON

 

 

2 HANSON PLACE, 12TH FLOOR, BROOKLYN,
N.Y. 11217

 

March 26, 2013

 

Hennion & Walsh, Inc.

2001 Route 46, Waterview Plaza

Parsippany, New Jersey 07054

 

Smart Trust, Tax Free Income Trust, Series
13

Dear Sirs:

The Bank of New York
Mellon is acting as trustee for Smart Trust, Tax Free Income Trust, Series 13 set forth above (the “Trust”).
We enclosed a list of the Securities to be deposited in the Trust on the date hereof. The prices indicated therein reflect our
evaluation of such Securities as of close of business on March 26, 2013, in accordance with the valuation method set forth in the
Trust Indenture and Agreement. We consent to the reference to The Bank of New York Mellon as the party performing the evaluations
of the Trust Securities in the Registration Statement (No. 333-186377) filed with the Securities and Exchange Commission with respect
to the registration of the sale of the Trust Units and to the filing of this consent as an exhibit thereto.

 

Very truly yours,

 

/s/
GERARDO CIPRIANO _______________ 

Gerardo Cipriano

Vice PresidentExhibit 4.3

 

 

Consent of Independent Registered
Public Accounting Firm

We consent to the
reference made to our firm under the caption “Independent Registered Public Accounting Firm” in Part B of the Prospectus
and to the use of our report dated March 26, 2013, in this Registration Statement (Form S-6 No. 333-186377) of Smart Trust, Tax
Free Income Trust, Series 13.

 

/s/ Grant
Thornton LLP

Grant
Thornton LLP

Chicago, Illinois

March 26, 2013amerianastandstillmarch26-13.htm

STANDSTILL AGREEMENT

This Standstill Agreement (this “Agreement”) is made by and between Ameriana Bancorp, on the one hand, and Financial Edge Fund, L.P., Financial Edge - Strategic Fund, L.P., PL Capital/Focused Fund, L.P., Goodbody/PL Capital, L.P., PL Capital, LLC, PL Capital Advisors, LLC, Goodbody/PL Capital, LLC, John W. Palmer and Richard J. Lashley (collectively, the “PL Capital Parties”), on the other hand, on behalf of themselves and their respective affiliates (Ameriana Bancorp and the PL Capital Parties together, collectively, the “Parties”).  In consideration of the covenants, promises and undertakings set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

1.           Board Expansion and Membership

Upon the execution of this Agreement, the Board of Directors of Ameriana Bancorp will be expanded from its present ten-member size to eleven members, and Charles R. Haywood will be appointed a director of Ameriana Bancorp to serve in the class of directors with terms expiring at Ameriana Bancorp’s 2016 annual meeting of stockholders or until their successors are elected and qualified.  At all times from and after the date of this Agreement, Ameriana Bancorp’s Board of Directors will also appoint, at its sole discretion, all other persons to fill remaining director positions or vacancies on the Ameriana Bancorp Board of Directors.  Mr. Haywood shall receive the normal compensation and benefits paid to directors of Ameriana Bancorp while he serves as a director thereof.

Upon the execution of this Agreement, the Board of Directors of Ameriana Bancorp will cause the Board of Directors of Ameriana Bank, or its successor (collectively, the “Bank”), to expand the Bank’s Board of Directors to eleven members and to appoint Mr. Haywood to fill the vacancy created by the expansion of the Bank’s Board of Directors from its present ten-member size to eleven members to serve in the class of directors with terms expiring at Ameriana Bank’s 2016 annual meeting of stockholders or until their successors are elected and qualified.  Mr. Haywood shall receive the normal compensation and benefits paid to directors of the Bank while he serves as a director thereof.

2.           Standstill

The PL Capital Parties each agree that, for so long as Charles R. Haywood (or, in the event of the death, disability or resignation of Mr. Haywood, a substitute nominee of the PL Capital Parties, whose substitution shall be subject to the approval of the Ameriana Bancorp Board of Directors in its sole discretion, which approval shall not be unreasonably withheld or delayed) remains a director of Ameriana Bancorp or the Bank (the “Standstill Period”), they and their affiliates or associates (as defined in Rule 12b-2 promulgated pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) will not (and they will not assist or encourage others to), directly or indirectly, in any manner, without prior written approval of the Board of Directors of Ameriana Bancorp:

 

 

  

  

  

 

(i)           acquire, offer to acquire, solicit an offer to sell or agree to acquire directly or indirectly, alone or in concert with others, by purchase, gift or otherwise, any direct or indirect beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) or any direct or indirect interest in any securities or direct or indirect rights, warrants or options to acquire, or securities convertible into or exchangeable for (collectively, an “Acquisition”), any securities of Ameriana Bancorp, such that as a result of such of such Acquisition, the PL Capital Parties would maintain beneficial ownership in excess of 9.99% of the outstanding shares of Ameriana Bancorp common stock;

(ii)           make, or in any way participate in, directly or indirectly, alone or in concert with others, any “solicitation” of “proxies” to vote (as such terms are used in the proxy rules of the Securities and Exchange Commission promulgated pursuant to Section 14 of the Exchange Act) or seek to advise or influence in any manner whatsoever any person with respect to the voting of any voting securities of Ameriana Bancorp;

(iii)           form, join or in any way participate in a “group” within the meaning of Section 13(d)(3) of the Exchange Act (other than a group involving solely the PL Capital Parties) with respect to any voting securities of Ameriana Bancorp (for the benefit of clarification and the avoidance of doubt, this provision shall not prohibit changes in the membership of the group involving the PL Capital Parties as long as any additional member(s) acknowledges and agrees to be bound by the terms of this Agreement);

(iv)           acquire, offer to acquire or agree to acquire, directly or indirectly, alone or in concert with others, by purchase, exchange or otherwise, (a) any of the assets, tangible and intangible, of Ameriana Bancorp or (b) direct or indirect rights, warrants or options to acquire any assets of Ameriana Bancorp;

(v)           arrange, or in any way participate, directly or indirectly, in any financing (except for margin loan financing for shares beneficially owned) for the purchase of any securities or securities convertible or exchangeable into or exercisable for any securities or assets of Ameriana Bancorp;

(vi)           otherwise act, alone or in concert with others, to seek to offer to Ameriana Bancorp or any of its stockholders any business combination, restructuring, recapitalization or similar transaction to or with Ameriana Bancorp or otherwise seek, alone or in concert with others, to control or change the management, Board of Directors or policies of Ameriana Bancorp or nominate any person as a director of Ameriana Bancorp who is not nominated by the then incumbent directors (provided that if there is a vacancy on the Ameriana Bancorp Board of Directors the PL Capital Parties may submit suggestions on a confidential basis to the Ameriana Bancorp Board of Directors or the Nominating and Governance Committee of the Ameriana Bancorp Board of Directors for nominees to the Board of Directors pursuant to the nomination policy adopted by the Board of Directors), or propose any matter to be voted upon by the stockholders of Ameriana Bancorp; or

(vii)           announce an intention to do, or enter into any arrangement or understanding with others to do, any of the actions restricted or prohibited under clauses (i) through (vi) of this Paragraph 2, or publicly announce or disclose any request to be excused from any of the foregoing obligations of this Paragraph 2.

 

 

  

  

  

 

At any Ameriana Bancorp annual meeting of stockholders during the Standstill Period, the PL Capital Parties agree (1) to vote all shares of Ameriana Bancorp they or any of them beneficially own in favor of the nominees for election or reelection as director of Ameriana Bancorp selected by the Board of Directors of Ameriana Bancorp and agree otherwise to support such director candidates, and (2) with respect to any other proposal submitted by any Ameriana Bancorp stockholder to a vote of the Ameriana Bancorp stockholders, to vote all of the Ameriana Bancorp shares they beneficially own in accordance with the recommendation of the Ameriana Bancorp Board of Directors with respect to any such stockholder proposal.

 

Notwithstanding anything in this Agreement to the contrary, nothing herein will be construed to limit or affect:  (1) any action or inaction by Mr. Haywood in his capacity as a member of Ameriana Bancorp’s Board of Directors or the Bank’s Board of Directors, provided he acts in good faith in the discharge of his fiduciary duties as a Board member; or (2) the ability of the PL Capital Parties to engage in discussions relating to the topics listed in Paragraph 2 of this Agreement directly with the President and Chief Executive Officer of Ameriana Bancorp, or upon invitation, with other members of management or the board of directors of Ameriana Bancorp.

 

The Standstill Period shall terminate following the 2014 annual meeting of stockholders if:  (1) Mr. Haywood resigns as a member of the Board of Directors of Ameriana Bancorp; or (2) at the option of Ameriana Bancorp, if the beneficial ownership of the PL Capital Parties decreases below 5% of the outstanding shares of Ameriana Bancorp common stock.

 

3.           Non-Disparagement

During the Standstill Period, the PL Capital Parties agree not to disparage Ameriana Bancorp or any officers, directors (including director nominees) or employees of Ameriana Bancorp or its affiliates or subsidiaries in any public or quasi-public forum, and Ameriana Bancorp agrees not to disparage any of the PL Capital Parties or any officers or employees of the PL Capital Parties in any public or quasi-public forum.

4.           PL Capital Nominees

During the Standstill Period, the PL Capital Parties agree not to nominate any other candidate for director of Ameriana Bancorp or the Bank at any time (except, in the event of death, disability or resignation of Mr. Haywood, a substitute nominee of PL Capital Parties, whose substitution shall be subject to the approval of the Ameriana Bancorp Board of Directors in its sole discretion, which approval shall not be unreasonably withheld or delayed).

5.           Authority

Each of the Parties that is a corporation or other legal entity and each individual Party executing this Agreement on behalf of a corporation or other legal entity, represents and warrants that: (a) such corporation or other legal entity is duly organized, validly authorized and in good standing, and possesses full power and authority to enter into and perform the terms of this Agreement; (b) the execution, delivery and performance of the terms of this Agreement have been duly and validly authorized by all requisite acts and consents of the company or other legal entity and do not contravene the terms of any other obligation to which the corporation or other legal entity is subject; and (c) this Agreement constitutes a legal, binding and valid obligation of each such entity, enforceable in accordance with its terms.

 

 

  

  

  

 

6.           Expenses

All costs and expenses incurred in connection with this Agreement shall be paid by the party incurring such expenses.

7.           Amendment In Writing

This Agreement and each of its terms may only be amended, waived, supplemented or modified in a writing signed by the signatories hereto or their respective clients.

8.           Governing Law/Venue/Jurisdiction

This Agreement, and the rights and liabilities of the Parties hereto, shall be governed by and construed in accordance with the laws of the State of Indiana without regard to conflict of law provisions.  The venue and jurisdiction for adjudication of any and all disputes between the Parties to this Agreement shall be in the Circuit Court in and for Henry County, State of Indiana.

9.           Specific Performance

The Parties agree that irreparable damage would occur if any of the provisions of this Agreement were not performed in accordance with their specific terms.  Accordingly, it is agreed that the Parties shall be entitled to seek specific performance of the terms hereof, this being in addition to any other remedies to which they are entitled at law or equity.

10.           Counterparts

This Agreement may be executed in counterparts, each of which shall be considered to be an original or true copy of this Agreement.  Faxed signatures shall be presumed valid.

11.           Nonwaiver

The failure of any one of the Parties to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver thereof or deprive the Parties of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement.

12.           Disclosure of This Agreement

The parties contemplate that the PL Capital Parties will file a Schedule 13D amendment attaching this Agreement, that Ameriana Bancorp will file a Form 8-K attaching this Agreement and that during the Standstill Period there will be no other public comments (except as required by applicable regulations of the Securities and Exchange Commission) by the Parties regarding this Agreement other than a press release by Ameriana Bancorp factually summarizing this Agreement and referring to the Form 8-K filing, which press release shall be subject to approval by the PL Capital Parties (such approval not to be unreasonably withheld).

 

 

  

  

  

 

13.           Entire Agreement

This Agreement constitutes the full, complete and entire understanding, agreement, and arrangement of and between the Parties with respect to the subject matter hereof and supersedes any and all prior oral and written understandings, agreements and arrangements between them.  There are no other agreements, covenants, promises or arrangements between the Parties other than those set forth in this Agreement (including the attachments hereto).

14.           Notice

All notices and other communications which are required or permitted hereunder shall be in writing, and sufficient if by same-day hand delivery (including delivery by courier) or sent by fax, addressed as follows:

If to the Ameriana Bancorp Parties:

Jerome J. Gassen

President and Chief Executive Officer

Ameriana Bancorp

2118 Bundy Avenue

New Castle, Indiana 47632

Fax: (765) 529-2232

with a copy to:

Gary R. Bronstein, Esq.

Kilpatrick Townsend & Stockton LLP

607 14th Street, Suite 900

Washington, DC  20005

Fax: (202) 204-5616

If to the PL Capital Parties:

Richard J. Lashley

PL Capital, LLC

47 East Chicago Avenue

Suite 336

Naperville, Illinois 60540

Fax: (973) 360-1720

with a copy to:

Phillip M. Goldberg, Esq.

Foley & Lardner LLP

321 North Clark Street, Suite 2800

Chicago, Illinois 60654-5313

Fax: (312) 832-4700

15.           Further Assurances.  

The PL Capital Parties and Ameriana Bancorp agree to take, or cause to be taken, all such further or other actions as shall reasonably be necessary to make effective and consummate the transactions contemplated by this Agreement.

16.           Successors and Assigns.  

All covenants and agreements contained herein shall bind and inure to the benefit of the parties hereto and their respective successors and assigns.

[Signature page follows]

  

  

  

IN WITNESS WHEREOF, the Parties hereto have each executed this Agreement on the date set forth below.

Dated:    March 26, 2013

For:         Financial Edge Fund, L.P.                                                                           For Ameriana Bancorp, Inc.:

Financial Edge - Strategic Fund, L.P.

PL Capital/Focused Fund, L.P.

Goodbody/PL Capital, L.P.

PL Capital, LLC

PL Capital Advisors, LLC                                                                                     

Goodbody/PL Capital, LLC                                                                    By:   /s/ Jerome J. Gassen                                       

  Jerome J. Gassen

                              President and Chief Executive Officer

By:     /s/ Richard J. Lashley            

    Richard J. Lashley

    Managing Member

By:     /s/ John W. Palmer             

    John W. Palmer

    Managing Member

For John W. Palmer:

 

/s/ John W. Palmer            

John W. Palmer

For Richard J. Lashley:

 

 

/s/ Richard J. Lashley           

Richard J. Lashley

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