Document:

Employment Agreement

 Exhibit 10.1 
  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement (this “Agreement”) is made and entered into as of September 26, 2005, by and between i2 Technologies, Inc., a Delaware
corporation (the “Company”), and Barbara Stinnett, an individual (the “Employee or CCO”). 
  
 RECITALS 
  
 WHEREAS, the Employee desires to be employed by the Company as Chief Customer Officer and the Company desires to employ the Employee as Chief Customer Officer, subject to the terms and conditions of this
Agreement; and 
  
 WHEREAS, the Company and the Employee
have determined that it is in their respective best interests to enter into this Agreement on the terms and conditions as set forth herein. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and promises contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  

	 	1.	EMPLOYMENT TERMS AND DUTIES 

  
 1.1 Employment. The Company shall employ the Employee and the Employee shall perform services for the Company hereunder, for the initial
term commencing October 3, 2005 (“Hire Date”) and ending, subject to earlier termination under Section 1.5 hereunder, on October 2, 2006, (the period between October 3, 2005 and October 2, 2006 shall hereinafter be described as the
“initial term”),at which time the parties agree to be employed at the will of each party, unless otherwise agreed to by the parties in writing. 
  
 1.2 Title and Reporting Relationship. The Employee shall serve as Executive Vice President of Customer Operations and Chief Customer Officer
(“CCO”) of the Company, and shall report to the Company’s President and CEO. The Employee shall chair the Operating Committee and also have global business process ownership for consulting resources. This position has a Section 16(b)
officer designation. In the event that the Employee’s employment is terminated for Cause (as defined below), the Employee agrees to and shall be deemed to have resigned from the Company or its subsidiaries. 
  
 1.3 Duties. The Employee shall perform all reasonable duties
assigned by the Company’s CEO. Unless otherwise agreed upon by the Company, during her employment hereunder, the Employee shall devote her full working time and best efforts to the performance of her duties to the Company and shall not be
otherwise employed. The Employee shall use her best efforts in the performance of her duties and the furtherance of the interests of the Company. Company and the Employee agree that Employee’s principal location of employment with the Company
shall be at the Company’s headquarters in Dallas, Texas. Employee shall complete the relocation to Dallas, TX within twelve (12) months from the date a successor to the current CEO is hired in accordance with the terms and benefits defined in
Section 1.4.7. The Employee understands and agrees that her employment with the Company will require travel and overnight stays (“Travel Assignments”). 
  

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 1.4 Compensation and Benefits. 
  
 1.4.1 Cash Compensation. In consideration of the services
rendered to the Company hereunder by the Employee and the Employee’s covenants hereunder, including but not limited to, her covenants under Sections 2, 3, and 5 below, the Company shall during the initial term pay the
Employee a salary equivalent to $475,000 USD per annum (the “Base Salary”), paid on a semi-monthly basis. The Base Salary shall be payable in accordance with the normal payroll practices of the Company then in effect. The Employee shall
also be entitled, during the initial term, to an incentive payment of up to 50% of the Base Salary (the “Bonus”). Bonus payments will be paid in accordance with the normal practices of the Company then in effect, including the applicable
bonus processing schedule and assessment of Company, including Business Unit and Employee performance objectives and assessments as well as the Employee’s ability to meet objectives established by the President and CEO. The Base Salary, Bonus
and all other forms of compensation paid to the Employee hereunder shall be subject to all applicable taxes required to be withheld by the Company pursuant to federal, state or local law. The Employee shall be solely responsible for income or other
taxes imposed on the Employee by reasons of any cash or non-cash compensation and benefits provided by this Agreement. 
  
 1.4.2 Benefits Package. Employee shall be eligible to receive such employee benefits as may be in effect from time to time as are afforded
to other employees of the Company. 
  
 1.4.3
Equity. On Employee’s Hire Date (“Grant Date”), in accordance with the Company’s 1995 Stock Option/Stock Issuance Plan and subject to the approval of the Compensation Committee, the Employee will be granted (i)
15,000 shares of the Company’s Share Right Awards (the “Restricted Shares”), and (ii) an option to purchase 100,000 shares of the Company’s common stock at an exercise price equal to the fair market value of the common stock on
the Grant Date (the “Options”). The Restricted Shares shall vest in accordance with the following schedule: 33.3% one year from the vesting commencement date, 33.3% two years from the vesting commencement date and 33.4% three years from
the vesting commencement date. The Options shall vest in accordance with the following schedule: 1% shall vest immediately; 24% shall vest one year from the vesting commencement date; the remaining shall vest in 36 equal monthly installments
thereafter. The vesting commencement date for all approved Restricted Shares and Options will be the Hire Date. The remaining terms and conditions of the option grants and the Restricted Shares shall be as set forth in the form Stock Option
Agreement and the Share Right Award Agreement document attached hereto. The Employee may be entitled to participate in the Company’s stock option plan or other equity compensation plan at the discretion of and upon terms and conditions agreed
upon by the Compensation Committee of the Board of Directors. 
  
 1.4.4 Vacation. The Employee shall be entitled to vacation each fiscal year in accordance with the vacation policies of the Company in effect for employees of the Company. 
  
 1.4.5 Expenses. Any travel to and from customer sites or other
travel required in conjunction with this employment shall be conducted in accordance with i2’s Travel Policy. The Company shall, upon receipt from the Employee of signed and itemized lists of expenditures with supporting receipts to the extent
required by applicable income tax regulations and the Company’s reimbursement policies, reimburse the Employee for all out-of-pocket business expenses reasonably incurred by the Employee in connection with her employment hereunder. 

 
 1.4.6 Change of Control. In the event of a Corporate
Transaction (as defined in both the i2 1995 Stock Option/Stock Issuance Plan and the 2001 Non-Officer Stock Option/Stock Issuance Plan, collectively, the “Plans”) whereby i2 is acquired during Employee’s employment, all unvested
Restricted Shares and options granted to Employee by the Company on or after Employee’s Hire Date will be immediately accelerated and become exercisable. 
  

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 1.4.7 Relocation Terms and Benefits. The Company will pay up to a maximum of $300,000 in
relocation expenses (including but not limited to all costs associated with commuting, temporary living and taxes associated with grossing up all taxable, non-deductible expenses) in accordance with the i2 Technologies US, Inc.
Homeowner’s Relocation Policy unless otherwise defined within this Section 1.4.7. The relocation must be initiated no later than six (6) months from the date a successor to the current CEO is hired, and completed as soon as
possible, but no later than six (6) months from the date the relocation is actually initiated. The date on which the Employee initiates the relocation shall hereinafter be referred to as the relocation initiation date. The date on which the Employee
completes the relocation shall hereinafter be referred to as the relocation completion date. Included in the $300,000 maximum relocation expenses defined in this Section 1.4.7, while the Employee is commuting, the Company will provide a
grossed up monthly allowance of $6,000 per month for travel to and from Dallas, a rental car and housing of choice for up to twelve (12) months from the date a successor to the current CEO is hired, or until the relocation completion date, whichever
is earlier. By signing this Agreement, Employee acknowledges having read, understood and agrees to abide by the guidelines set forth in the i2 Technologies US, Inc. Homeowner’s Relocation Policy with the exception of any different
terms defined within this Section 1.4.7. In the event that the Employee voluntarily terminates employment prior to completing two full years of employment with the Company from the relocation initiation date, Employee agrees to reimburse the
Company for 100% of the total amount of the relocation expenses incurred, less commuting expenses incurred prior to the relocation initiation date. Further, if Employee voluntarily terminates employment after completing two full years of employment
with the Company after the relocation initiation date, but prior to completing three full years of employment with the Company after the relocation initiation date, Employee must reimburse to the Company 50% of the total amount of the relocation
expenses incurred, less commuting expenses incurred prior to the relocation initiation date. Unless other payment arrangements are made to reimburse i2 in a timeframe agreeable to the Company, Employee authorizes the Company to deduct any monies due
to the Company from Employee’s pay or other monies due to the Employee. 
  
 1.5 Termination. The Employee’s employment and this Agreement (except as otherwise provided hereunder) shall terminate upon the occurrence of any of the following, at the time set forth therefore
(the “Termination Date”): 
  
 1.5.1 Death or
Disability. Immediately upon the death of the Employee or the determination by the relevant insurance company or management agency that the Employee is eligible to receive benefits under the Company’s disability insurance offered to
Company’s employees, due to a mental or physical illness or incapacity (“Disability”) (termination pursuant to this Section 1.5.1 being referred to herein as termination for “Death or Disability”). 
  
 1.5.2 Voluntary Termination. Employee may terminate employment
with a minimum of 90 days notice. Termination pursuant to this Section 1.5.2 is being referred to herein as “Voluntary” termination). 
  
 1.5.3 Termination For Cause. Immediately following notice of termination for “Cause” (as defined below), (termination pursuant to
this Section 1.5.3 being referred to herein as termination for “Cause”). For purposes of this Agreement, the term “Cause” means (i) the Employee’s conviction or plea of “guilty” or “no contest” to
any crime constituting a felony in the jurisdiction in which such is committed, any crime involving moral turpitude (whether or not a felony), or any other violation of criminal law involving dishonesty or willful misconduct that injures the Company
(or any parent or subsidiary) (whether or not a felony); (ii) the commission of any act of fraud, embezzlement, or dishonesty by the Employee; (iii) the Employee’s substance abuse that in any manner interferes with the 
  

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 performance of the Employee’s duties; (iv) the Employee’s failure or refusal to perform the duties at all or in
an acceptable manner, or to follow the lawful and proper directives of the CEO and/or the Board of Directors of the Company which are within the scope of the Employee’s duties set forth in Section 1.3 above and which is not corrected
within a reasonable period after written notice to the Employee identifying such failure or refusal; (v) any breach of the Employee’s obligations under Section 2, Section 3, or Section 5 below; (vi) any breach of the Company’s Code of
Business Conduct and Ethics or the Company’s Employee/Manager’s Handbook or Company Policies; (vii) any misconduct by the Employee that discredits or damages the Company (or any parent or subsidiary); (viii) the Employee’s chronic
absence from work for reasons other than a medically validated illness; (ix) failure to meet the performance goals or objectives agreed between the Employee and the CEO of the Company; or (x) any other intentional misconduct by the Employee
adversely affecting the business or affairs of the Company (or any parent or subsidiary). 
  
 1.5.4 Termination Without Cause. Employee may be terminated immediately by the Company without cause. If Employee is terminated without cause, Employee will receive a severance payment of six (6) months
of base salary and on-target bonus potential in consideration for a Release and Waiver of Claims (in a form acceptable to i2) against i2 and any successor company assuming this Agreement (“Release”).  
  
 1.5.5 Other Remedies. Termination pursuant to Section
1.5.3. above shall be in addition to and without prejudice to any other right or remedy to which the Company may be entitled at law, in equity, or under this Agreement. The Company’s obligation to pay and the Employee’s right to
receive any severance, relocation or other benefits under this Agreement shall cease in the event of the Employee’s breach of his obligations under Section 2, Section 3, or Section 5 below. 
  
 1.6 Severance and Termination. Voluntary Termination,
Termination for Cause, Termination for Death or Disability. In the case of a termination of the Employee’s employment hereunder for Death or Disability in accordance with Section 1.5.1 above, or the Employee’s Voluntary termination
of employment hereunder in accordance with Section 1.5.2 above, or a termination of the Employee’s employment hereunder for Cause in accordance with Section 1.5.3 above, (i) the Employee shall not be entitled to receive payment
of, and the Company shall have no obligation to pay, any severance or similar compensation attributable to such termination, other than Base Salary earned but unpaid as of the termination date, and payment related to accrued but unused vacation, and
(ii) the Company’s obligations under this Agreement shall immediately cease. 
  
 1.6.1 WARN. Should the termination of the Employee’s employment be deemed to be covered by the Worker Adjustment, Retraining and Notification Act or any comparable state or country statute or
regulation, the severance benefits above shall be considered to be payments required by that Act, statute or regulation. Accordingly, any payments under this Agreement shall be reduced dollar-for-dollar by payments required pursuant to such Act,
statute or regulation, and all other benefits otherwise provided by this Agreement will be offset by benefits required pursuant to such Act, statute or regulation. 
  

	 	2.	CONFIDENTIAL INFORMATION - NON-DISCLOSURE 

  
 The Employee understands that the Company possesses Proprietary Information. An Employee Proprietary Information Agreement (“EPIA”), as attached
hereto, shall be agreed to and executed in conjunction with this Agreement. The Employee agrees that, during and after the Employment Term, the Employee shall not at any time make any statement or representation, written or 
  

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 oral, which the Employee knows or should know will, or which the Employee knows or should know is reasonably likely to,
impair, bring into disrepute, or adversely affect in any way the reputation, good will, business, customer or supplier relationships, or public relations of the Company, any affiliate, any successor, and/or any person or entity which the Employee
knows or should know is one of the following: (i) a member of the Board of the Company, any affiliate and/or any subsidiary, (ii) any employee of the Company, or any affiliate and/or any subsidiary of the Company, (iii) a person or entity who has or
has had a legal or beneficial ownership interest in the Company, any subsidiary and or any affiliate (an “Owner”), and/or (iv) an owner, employee, director, partner, representative of, and/or adviser to, any such Owner. 
  

	 	3.	NON-COMPETITION AND NON-INTERFERENCE 

  
 The Employee agrees that during the term of her employment and for a period of twelve (12) months from the date her employment with the Company
terminates, for whatever reason: 
  
 (i) The Employee shall not
provide any services (whether as an employee, agent, consultant, advisor, or independent contractor or in any other capacity, directly or indirectly) to any competitor in a position that has substantially the same functions and/or responsibilities
as the position occupied by the Employee at the time of the Employee’s cessation of service. Nor shall the Employee provide any services (whether as an employee, agent, consultant, advisor, or independent contractor or in any other capacity,
directly or indirectly) to any competitor in a capacity in which the Employee would be in a position to use or disclose the Company’s confidential information (whether for the benefit of the Employee or the competitor, or to the detriment of
the Company). For the purposes of this covenant a competitor shall mean any corporation, partnership, or other entity that (i) is doing business in the geographic region in which the Employee was employed by the Company and (ii) is engaged in a
business or has one or more product lines competitive with the Company. 
  
 (ii) The Employee shall not request, advise or suggest to any customer of the Company, nor shall the Employee directly or indirectly assist any other person or entity to request, advise, or suggest to any customer of the Company, that the
customer curtail, cancel or withdraw its business from the Company or that the customer not expand its relationship with the Company. 
  
 (iii) The Employee shall not directly or indirectly solicit or accept the business of any customer or prospect of the Company with whom the Employee (i)
had contact during the Employee’s last twelve (12) months of employment with the Company, or (ii) had access to the Company’s confidential information with respect to the customer or prospect during the last twelve (12) months of
employment with the Company. 
  
 (iv) The Employee shall not
induce or solicit any employee of the Company to leave the employ of the Company. 
  
 If any restriction set forth in this section is held by any court of competent jurisdiction to be unenforceable, then the Employee agrees, and hereby submits, to the reduction and limitation of such restriction to
such geographic area, range of activities or period as may be enforceable. 
  

	 	4.	INJUNCTIVE RELIEF AND ADDITIONAL REMEDY 

  
 The Employee acknowledges and agrees that any breach of the terms of Sections 2 or 3 above would result in irreparable injury and damage to
the Company for which the Company would have no adequate remedy at law; the Employee therefore also acknowledges and agrees that in the event of 
  

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 such breach or any threat of breach, the Company shall be entitled to an immediate injunction and restraining order to
prevent such breach and/or threatened breach and/or continued breach by the Employee and/or any and all persons and/or entities acting for and/or with the Employee, without having to prove damages, in addition to any other remedies to which the
Company may be entitled at law or in equity. The terms of this paragraph shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach hereof, including but not limited to the recovery of damages
from the Employee. The Employee agrees to appear before and to submit exclusively to the jurisdiction of the state and federal courts located within the State of Texas with respect to any controversy, dispute or claim arising out of or relating to
this Agreement. 
  

	 	5.	REPRESENTATIONS AND WARRANTIES BY THE EMPLOYEE 

  
 The Employee represents and warrants to the Company that (i) the Employee is not bound by or subject to any contractual or other obligation that would be
violated by her execution or performance of this Agreement, including, but not limited to, any non-competition agreement presently in effect, and (ii) the Employee is not subject to any pending or, to the Employee’s knowledge, threatened claim,
action, judgment, order or investigation that could adversely affect her ability to perform her obligations under this Agreement or the business reputation of the Company. 
  

	 	6.	EFFECTIVENESS AND SURVIVAL OF CERTAIN RIGHTS AND OBLIGATIONS 

  
 Sections 2, 3, and 5 above shall survive any termination of this Agreement or the Employment Term and continue in full force and
effect as is necessary or appropriate to enforce the covenants and agreements of the Employee in Sections 2, 3, and 5. The existence of any claim or cause of action by the Employee against the Company, whether predicated on this
Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants and agreements of Sections 2 and 3 above. 
  

	 	7.	MISCELLANEOUS 

  
 7.1 Notices. All notices, requests and other communications hereunder must be in writing and will be deemed to have been duly given only if
delivered personally against written receipt or by facsimile transmission with answer back confirmation or mailed (postage prepaid by certified or registered mail, return receipt requested) or by overnight courier to the parties at the following
addresses or facsimile numbers: 
  
 If to the Employee, to:

  
                                       
                                        
            
                                       
                                        
            
                                       
                                        
            
  
 If to the Company, to: 
  
 General Counsel 

i2 Technologies, Inc. 
 11701 Luna Road

 Dallas Irving, Texas 75039 
 Facsimile No: (469-357-6566) 
  

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 All such notices, requests and other communications will (i) if delivered personally to the address as provided in this
Section 7.1, be deemed given upon delivery, (ii) if delivered by facsimile transmission to the facsimile number as provided in this Section 7.1, be deemed given upon receipt, and (iii) if delivered by mail in the manner described above
to the address as provided in this Section 7.1, be deemed given upon receipt (in each case regardless of whether such notice, request or other communication is received by any other Person to whom a copy of such notice, request or other
communication is to be delivered pursuant to this Section). Any party from time to time may change its address, facsimile number or other information for the purpose of notices to that party by giving written notice specifying such change to the
other parties hereto. 
  
 7.2 Entire Agreement.
Except for any rights or obligations of the Employee or Company set forth in this Agreement, The Employee Proprietary Agreement, the i2 Stock Option Agreement, the Share Right Award Agreement, i2’s Code of Business Conduct and Ethics, this
Agreement supersedes all prior discussions and agreements among the parties with respect to the subject matter hereof and contain the sole and entire agreement between the parties hereto with respect thereto. 
  
 7.3 Waiver. Any term or condition of this Agreement may be
waived at any time by the party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on behalf of the party waiving such term or condition. No waiver by any party
hereto of any term or condition of this Agreement, in any one or more instances, shall be deemed to be or construed as a waiver of the same or any other term or condition of this Agreement on any future occasion. Unless otherwise noted in the
Agreement, all remedies, either under this Agreement or by law or otherwise afforded, will be cumulative and not alternative. 
  
 7.4 Amendment. This Agreement may be amended, supplemented or modified only by a written instrument duly executed by or on behalf of each
party hereto. 
  
 7.5 No Third Party Beneficiary.
The terms and provisions of this Agreement are intended solely for the benefit of each party hereto and the Company’s successors or assigns, and it is not the intention of the parties to confer third-party beneficiary rights upon any other
Person. 
  
 7.6 No Assignment; Binding Effect. This
Agreement shall inure to the benefit of any successors or assigns of the Company. The Employee shall not be entitled to assign her obligations or benefits under this Agreement. 
  

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 7.7 Headings. The headings used in this Agreement have been inserted for convenience of
reference only and do not define or limit the provisions hereof. 
  
 7.8 Severability. The Company and the Employee intend all provisions of this Agreement to be enforced to the fullest extent permitted by law. Accordingly, if a court of competent jurisdiction determines that the scope and/or
operation of any provision of this Agreement is too broad to be enforced as written, the Company and the Employee intend that the court should reform such provision to such narrower scope and/or operation as it determines to be enforceable. If,
however, any provision of this Agreement is held to be illegal, invalid, or unenforceable under present or future law, and not subject to reformation, then (i) such provision shall be fully severable, (ii) this Agreement shall be construed and
enforced as if such provision was never a part of this Agreement, and (iii) the remaining provisions of this Agreement shall remain in fill force and effect and shall not be affected by illegal, invalid, or unenforceable provisions or by their
severance. 
  
 7.9 Governing Law. This Agreement
shall be governed by and construed in accordance with the laws of the State of Texas applicable to contracts executed and performed in such State without giving effect to conflicts of laws principles. 
  
 7.10 Counterparts. This Agreement may be executed in any number
of counterparts and by facsimile, each of which will be deemed an original, but all of which together will constitute one and the same instrument. 
  
 7.11 Disclosure. By execution of this Agreement, the Employee confirms that she has resigned as an employee of Sybase, Inc. as of the Hire
Date and affirms that there is no other employment, board engagements, partnership, ownership, consulting engagements, association, etc. except those disclosed and agreed to in writing by the Company. 
  
 7.12 Arbitration. 
  
 7.12.1 The parties hereto agree that any dispute, controversy or claim
arising out of, relating to, or in connection with this Agreement (including, without limitation, any claim regarding or related to the interpretation, scope, effect, enforcement, termination, extension, breach, legality, remedies and other aspects
of this Agreement or the conduct and communications of the parties regarding this Agreement and the subject matter of this Agreement) shall be settled by arbitration at the offices of American Arbitration Association, or its successor organization
for binding arbitration in Dallas, Texas, in accordance with the United States Arbitration Act (9 U.S.C. §1 et.seq.) and the rules then in place of the American Arbitration Association. The arbitrators may grant injunctions or other relief in
such dispute or controversy. All awards of the arbitrators shall be binding and non-appealable. Judgment upon award of the arbitrators may be entered in any court having jurisdiction. The arbitrator shall apply the law of the State of Texas to the
merits of any dispute or claims, without reference to the rules of conflicts of law applicable therein. Suits to compel or enjoin arbitration or to determine the applicability or legality of arbitration shall be brought in the United States District
Courts for Northern District of Texas, or if that court lacks jurisdiction, in a state court located within the geographic boundaries thereof. Notwithstanding the foregoing, no party to this Agreement shall be precluded from applying to a proper
court for injunctive relief by reason of the prior or subsequent commencement of an arbitration proceeding as herein provided. 
  
 7.12.2 The Employee has read and understands this Section 7 which discusses arbitration. The Employee understands that by signing this Agreement,
the Employee agrees to submit 
  

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 any claims arising out of, relating to, or in connection with this Agreement, or the interpretation, validity,
construction, performance, breach or termination thereof, or her employment or the termination thereof, to binding arbitration, and that this arbitration provision constitutes a waiver of the Employee’s right to a jury trial and relates to the
resolution of all disputes relating to all aspects of the employer/employee relationship, including but not limited to the following: 
  
 7.12.2.1 Any and all claims for wrongful discharge of employment, breach of contract, both express and implied; breach of the covenant of good faith and
fair dealing, both express and implied; negligent or intentional infliction of emotional distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; and defamation;

  
 7.12.2.2 Any and all claims for violation of any federal,
state or municipal statute, including, without limitation, Title VII of the Civil Rights Act of 1964, as amended, the Civil Rights Act of 1991, the Equal Pay Act, the Employee Retirement Income Security Act, as amended, the Age Discrimination
Employment Act of 1967, the Americans with Disabilities Act of 1990, the Family and Medical Leave Act of 1993 and the Fair Labor Standards Act; and 
  
 7.12.2.3 Any and all claims arising out of any other federal, state or local laws or regulations relating to employment or employment discrimination.

  
 [SIGNATURE PAGE TO FOLLOW] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the date first
written above 
  

			
	“COMPANY”
	
	i2 TECHNOLOGIES, INC.
	a Delaware corporation
		
	By:	 	 /s/ Michael E. McGrath

	Name:	 	 Michael E. McGrath

	Title:	 	 President and Chief Executive Officer

	
	“EMPLOYEE”
	
	 /s/ Barbara D. Stinnett

	Barbara D. Stinnett

  

 Page 10Lease for Hebron, Ohio facility

 EXHIBIT 10(y) 
  
 LEASE AGREEMENT 
  
 THIS LEASE AGREEMENT (this “Lease”) between Monte R. and Susan K. Black, Ohio residents (“Landlord”), and MPW
Industrial Services, Inc., an Ohio corporation (“Tenant”) is made as of the 24th day of June, 2005. 
  

	 	1.	Fundamental Lease Provisions. The following is a summary of the fundamental lease provisions which are set forth in this Section 1 for reference.

  

	 	1.1.	Effective Date of Lease: January 1, 2005. 

  

	 	1.2.	Location of Premises: 

  
 9711 Lancaster Road SE; Hebron, Ohio 43025 
  

	 	1.3.	Landlord(s): Monte R. and Susan K. Black 

  

	 	1.4.	Address of Landlord: 

  
 1400 Stringtown Road; Lancaster, Ohio 43130 
  

	 	1.5.	Tenant: MPW Industrial Services, Inc. 

  

	 	1.6.	Address of Tenant: 

  
 9711 Lancaster Road SE; Hebron, Ohio 43025 
  

	 	1.7.	Premises: The real property and all improvements thereon described on Exhibit A attached hereto. 

  

	 	1.8.	Initial Term Commencement: January 1, 2005 

  

	 	1.9.	Initial Term Expiration: December 31, 2009 

  

	 	1.10.	Renewal Option(s): Two (2) Renewal Term(s) of five (5) years each. 

  

	 	1.11.	Basic Rent for Initial Term: $644,100.00 per annum, payable in monthly installments of $53,675.00 each. 

  

	 	1.12	Basic Rent for Renewal Term(s): First Renewal Term: $644,100.00 per annum, payable in monthly installments of $53,675.00 each; Second Renewal Term: $644,100.00 per
annum, payable in monthly installments of $53,675.00 each. 

  

	 	1.13.	Permitted Use: The operation of an industrial services facility and related incidental uses. 

  

 1 

 2. Demise; Term. 
  
 2.1. Demise. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord upon and subject to the
terms, covenants and conditions set forth herein, the Premises described in Section 1.7 hereof (the “Premises”). 
  
 2.2. Initial Term. The initial term of this Lease (the “Initial Term”) commences on the date set forth in Section 1.8
hereof (the “Commencement Date”) and shall end on the date set forth in Section 1.9 hereof unless sooner terminated hereunder. 
  
 2.3. Renewal Term(s). Tenant may, at its option, extend the Initial Term for the period(s) set forth in Section 1.10 hereof (each a
“Renewal Term”), each under the terms and conditions of this Lease, except that Tenant may not extend the Term beyond the Second Renewal Term. Tenant shall exercise its option(s) to extend the Term by written notice to Landlord
given at least 6 months prior to the expiration of the Term, and any applicable properly-exercised Renewal Term(s). 
  
 3. Rents. Tenant covenants and agrees to pay to Landlord for the use and occupancy of the Premises, at the times and in the manner
hereinafter provided, without demand, the following sums of money: 
  
 3.1. Basic Rent. Tenant shall pay to Landlord as “Basic Rent” for the Premises during the Initial Term the amount set forth in Section 1.11 hereof, payable in equal monthly installments in advance, on the
first day of each month during the Initial Term with the first installment due on the Commencement Date. Tenant shall pay to Landlord as Basic Rent for the Premises during the Renewal Term(s) the amount(s) set forth in Section 1.12 hereof,
payable in equal monthly installments in advance, on the first day of each month during the Renewal Term(s). 
  
 3.2. Additional Rent. Tenant shall also pay, as “Additional Rent”, all other sums of money or charges required to be paid
by Tenant to Landlord under the terms of this Lease whether or not the same are designated as Additional Rent. Basic Rent and Additional Rent are sometimes hereinafter collectively referred to as “Rents”. 
  
 3.3. Manner of Payment. All payments due from Tenant to
Landlord hereunder shall be made to Landlord at Landlord’s address set forth in Section 1.4 hereof or to such other person or such other place as Landlord may from time to time designate in writing to Tenant. All installments of Rents due
for a partial month or partial year at the beginning or end of the Term shall be prorated based on a 30-day month and a 360-day year. 
  
 4. Use. 
  
 4.1. Permitted Use. The Premises shall be used for the permitted use specified in Section 1.13 hereof and for no other purpose without
the prior written consent of Landlord, which consent shall not be unreasonably withheld or delayed. 
  

 2 

 4.2. Conduct of Tenant. Tenant shall use the Premises in a careful, safe and proper
manner. Tenant shall comply with all laws, rules, regulations, orders and requirements of all governmental authorities applicable to Tenant’s particular use of the Premises. 
  
 4.3. Signs. All signs placed on the Premises by Tenant shall comply with all applicable laws, rules,
regulations, orders and requirements of governmental authorities with respect to such signs. Tenant shall maintain any signs which Tenant places on the Premises in good condition and repair. 
  
 5. Maintenance and Repair of Premises. 
  
 5.1. Obligations of Landlord. Landlord shall have no
maintenance or repair obligations with respect to the Premises or any improvements located thereon. 
  
 5.2. Obligations of Tenant. Tenant agrees, at its sole cost and expense, to maintain the Premises and every part thereof and all buildings,
fixtures and equipment thereon, including without limitation, the roof, structure, windows, doors, plumbing, electrical and other utility lines and fixtures, landscaping, driveways, parking areas, walkways, sprinkler, HVAC and exhaust systems
serving the Premises in good condition and repair. 
  
 6.
Access to Premises. Landlord and its agents, employees and contractors shall have the right, after reasonable advance notice to Tenant, to enter upon the Premises during business hours for the purpose of inspecting the Premises, for
making repairs, alterations or additions to the Premises or for showing the Premises to prospective purchasers, tenants or lenders. Landlord shall use commercially reasonable efforts to minimize interference with Tenant’s use of the Premises

  
 7. Utilities. All utilities and services to the
Premises, including, without limitation, water, sewer, gas, electricity, telephone, data, security, cable TV and trash removal, shall be secured and paid for by Tenant, at its sole cost and expense. 
  
 8. Personal Property. All inventory, furnishings, trade
fixtures, equipment and other personal property (collectively “Personal Property”) of Tenant or any third party shall be stored or kept at the sole risk of Tenant, and Landlord shall not be liable for any loss or damage thereto.
Tenant shall remove all Personal Property from the Premises upon the expiration or earlier termination of this Lease and Tenant shall promptly repair, at its sole cost and expense, any damage caused by such removal. 
  
 9. Alterations and Improvements. Tenant shall make no
alterations or improvements which adversely affect the structural integrity of the building located on the Premises without the prior written consent of Landlord, which consent may be withheld in Landlord’s sole discretion. Tenant may make any
other alterations or improvements without Landlord’s consent. Tenant shall obtain, at its expense and prior to the commencement 
  

 3 

 of any such alterations or improvements, all necessary licenses, permits and other approvals of all governmental
authorities having jurisdiction over the Premises. 
  
 Tenant
shall (i) promptly pay all contractors, laborers and material suppliers performing work or supplying materials on behalf of Tenant at the Premises, (ii) not permit any liens to be filed against the Premises and (iii) indemnify and
defend Landlord from all losses, costs, claims and expenses (including attorneys’ fees, expenses and disbursements) incurred by Landlord as a result of Tenant’s breach of this Section 9. In the event that any such lien is filed
against the Premises, Tenant shall discharge or bond off the same within 60 days after the filing thereof. 
  
 10. Assignment and Subletting. Tenant may assign this Lease and/or sublet the Premises, or any interest herein or portion thereof, without
the consent of Landlord; provided that no such assignment or subletting by Tenant shall relieve Tenant from its obligations and liabilities under this Lease. 
  
 11. Damage and Destruction. If the improvements on the Premises are wholly or partially damaged or destroyed by fire or other casualty
Landlord shall restore and rebuild the improvements on the Premises to substantially the same condition which existed on the Effective Date, this Lease shall remain in full force and effect and Rents shall abate in proportion to the area of the
Premises rendered untenantable from the date of such casualty until 30 days after the completion of Landlord’s restoration and rebuilding. 
  
 Landlord shall receive any and all insurance proceeds payable in connection with the Premises and with any improvements thereto; provided, however, if
this Lease is not terminated as set forth in the preceeding paragraph, Landlord shall make available to Tenant any insurance proceeds specifically allocated to improvements paid for and constructed on the Premises by Tenant. Tenant shall be entitled
to receive any and all insurance proceeds payable in connection with Tenant’s Personal Property. In no event shall Landlord be required to expend any funds in excess of the amount of insurance proceeds received by Landlord on account of such
damage or destruction, less any out-of-pocket expenses incurred by Landlord in securing such insurance proceeds. Notwithstanding any provision of this Lease to the contrary (i) if the Premises is not restored by Landlord within 180 days after
the casualty; or (ii) the casualty occurs during the last two years of the Term, Tenant may terminate this Lease by written notice to Landlord. 
  
 12. Condemnation. If all or any material portion, as reasonably determined by Tenant, of the Premises are taken under the power of eminent
domain or conveyed in lieu thereof, this Lease shall terminate effective on the date of transfer of title and all Rents shall be adjusted as of such date. If this Lease is not terminated as set forth in this Section, Landlord shall restore the
Premises to a useable condition. Proceeds from such taking or conveyance in lieu thereof shall be the sole property of Landlord, and Tenant shall not be entitled to any portion thereof, provided that Tenant shall be entitled to receive any proceeds
allocated for improvements constructed by Tenant and for moving expenses. 
  

 4 

 13. Taxes 
  
 13.1. Real Estate Taxes. Commencing on the Initial Term Commencement Date and continuing at all times
thereafter during the Initial Term and any Renewal Term(s), Tenant shall be responsible for and, except as otherwise expressly provided herein, shall pay when due all personal property and real estate taxes and assessments, both general and special,
and all other charges of any kind levied, assessed, charged, taxed or imposed by any governmental authority upon or in respect of the Premises, the equipment, the improvements or any improvements made by Tenant in or to the Premises, including any
service charges in lieu of taxes under any Tax Increment Financing Agreement relating to the Premises and any tax or excise on rents levied or assessed by the State of Ohio or any political subdivision thereof against Landlord in respect of Rents or
any other Additional Rent payable hereunder in any form, as a substitution in whole or in part for taxes assessed or imposed by said state or any political subdivision thereof on land and buildings or on land or buildings. 
  
 13.2. Tenant’s Taxes. Tenant shall pay before delinquency
(i) all taxes and assessments levied against the Personal Property, and (ii) all taxes, assessments, fees and other charges levied against the use of the Premises and Tenant’s business operations therein. 
  
 14. Insurance. 
  
 14.1. Tenant’s Insurance. 
  
 a. Liability. Tenant shall, at Tenant’s expense,
maintain during the Term liability insurance against claims for personal injury, death and property damage resulting from the occupancy or use of the Premises by Tenant or any officer, employee, agent, customer, licensee, invitee or sublessee of
Tenant. All such insurance shall have minimum limits of liability of Two Million Dollars ($2,000,000) per occurrence and One Million Dollars ($1,000,000) property damage and have Tenant’s standard deductibles or retentions. 
  
 b. Personal Property. Tenant shall, at Tenant’s expense,
maintain during the Term property insurance with respect to all Personal Property located in, on or about the Premises, with Tenant’s standard deductibles or retention. 
  
 c. General Requirements. All such policies shall name Landlord, Landlord’s lender and any other person
designated by Landlord as additional insureds. 
  
 14.2.
Landlord’s Insurance. Landlord shall procure and maintain special form property insurance with respect to the improvements located on the Premises, in an amount equal to the replacement cost thereof. The out-of-pocket costs of
Landlord’s insurance shall be reimbursed by Tenant to Landlord within 30 days after Tenant’s receipt of a copy of the invoice for such insurance. 
  

 5 

 14.3 Waiver of Subrogation. Landlord and Tenant mutually agree that with respect to any
loss which is covered by insurance then being carried by them respectively, or required to be carried under this Lease, the party carrying or required to carry such insurance and suffering the loss hereby releases, on behalf of itself and its
insurance carrier, the other of and from any and all claim with respect to such loss to the extent of such insurance; and further mutually agree that their respective insurance companies shall have no right of subrogation against the other on
account thereof. 
  
 15. Default and Remedies. 

 
 15.1. The occurrence of any one or more of the following shall
constitute a default and breach of this Lease by Tenant (each a “Tenant Default”): 
  
 (i) The failure of Tenant to make any payment of Rents or any other amount payable to Landlord under this Lease within 10 days after written notice from
Landlord that the same is past due. 
  
 (ii) The failure of
Tenant to observe or perform any other provision of this Lease, other than those described in subparagraph “i” above, within 30 days after notice by Landlord to Tenant; provided, if more than 30 days is reasonably required to cure
such failure, Tenant shall not be in default if Tenant commences such cure within said 30 day period and diligently prosecutes such cure to completion within 30 days after such notice. 
  
 15.2. Upon a Tenant Default, Landlord may terminate this Lease by judicial order and reenter the Premises and dispossess
Tenant or other occupants by judicial order and remove their effects and repossess the Premises. 
  
 15.3. If this Lease is terminated according to Section 15.2 hereof, Tenant shall be liable to Landlord for all damages incurred by Landlord as
allowed by applicable law. 
  
 16. Indemnification.
Tenant shall indemnify and hold Landlord harmless from and against any and all losses, liabilities, damages, claims, costs and expenses, including, without limitation, reasonable attorneys’ fees, expenses and disbursements for injuries to or
death of persons and damage to property resulting from the use or occupancy of the Premises by Tenant, or any officer, employee, agent, customer, licensee, invitee or sublessee of Tenant or the failure of Tenant to perform and observe the
obligations of Tenant under this Lease except to the extent resulting from the gross negligence or willful misconduct of Landlord, its employees, agents or contractors. Landlord shall indemnify and hold Tenant harmless from and against any and all
losses, liabilities, damages, claims, costs and expenses, including, without limitation, reasonable attorneys’ fees, expenses and disbursements for injuries to or death of persons and damage to property resulting from the use or occupancy of
the Premises by Landlord, or any officer, employee, agent, customer, licensee or invitee of Landlord or the failure of Landlord to perform and observe the obligations of Landlord under this Lease except to the extent resulting from the gross
negligence or willful misconduct of Tenant, its employees, agents or contractors. 
  

 6 

 17. Surrender of Premises; Holding Over. 
  
 17.1. Surrender of the Premises. Tenant shall surrender
possession of the Premises to Landlord upon the expiration or earlier termination of this Lease, in serviceable condition and repair, reasonable wear and tear and damage by casualty excepted. All improvements to the Premises constructed by Tenant
and all Personal Property remaining at the Premises after the expiration of the Term shall be deemed abandoned and Landlord may dispose of the same without liability therefore. 
  
 17.2. Holding Over. If Tenant shall continue to occupy the Premises after the expiration of the Term without
Landlord’s consent, Tenant’s occupancy of the Premises shall be a tenancy from month-to-month, subject to all of the terms, covenants and conditions of this Lease except that the monthly installments of Basic Rent shall be increased to one
hundred five percent (105%) of the Basic Rent due immediately preceding the expiration of the Term. 
  
 18. Notices. Any notice, demand, request or statement required or intended to be given or delivered under the terms of this Lease shall be
in writing, and either (i) personally delivered, or (ii) sent by governmental mail, postage prepaid, registered or certified mail, return receipt requested, or (iii) reputable overnight courier which provides written evidence of
receipt, addressed to the party to be notified at the address set forth in Sections 1.4 and 1.6 hereof, or such other address as either party may hereafter designate by written notice to the other party, and shall be deemed to be delivered on the
earlier to occur of (i) actual receipt, or (ii) one business day after deposit with an overnight courier service or three business days after deposit with the United States Postal Service. 
  
 19. Quiet Enjoyment. Landlord covenants that, so long as Tenant
pays all Rents hereunder when due and keeps and performs all of its covenants under this Lease, Tenant shall at all times during the Term peaceably and quietly have and enjoy the Premises without hindrance or molestation by Landlord, subject to the
terms of this Lease. 
  
 20. Non-Waiver. The failure
of Landlord or Tenant to enforce any of its rights under this Lease for the breach of any of the terms hereof shall not be a waiver of the rights of Landlord or Tenant to exercise any such rights as to any subsequent breaches of the same or other
terms of this Lease. 
  
 21. Litigation Costs. In
the event that litigation arises between the parties with respect to any breach or threatened breach of this Lease, the prevailing party in such litigation shall be entitled to recover its costs and expenses, including reasonable attorneys’
fees, expenses and disbursements, in connection therewith from the non-prevailing party. 
  

 7 

 22. Entire Agreement. This Lease, including the Exhibits hereto, sets forth the entire
agreement between the parties with respect to the Premises. Any prior conversations or writings are merged herein and extinguished. Any prior lease between Landlord and Tenant is hereby extinguished and superseded by this Lease. No subsequent
amendment to this Lease shall be binding upon Landlord or Tenant unless reduced to writing and signed by the party to be charged. 
  
 23. Captions. The captions appearing herein are inserted only as a matter of convenience and are not intended to define, limit, construe or
describe the scope or intent of any provision of this Lease or in any way affect the interpretation of this Lease. 
  
 24. Governing Law. This Lease shall be governed by and construed in accordance the laws of Ohio. 
  
 25. Invalidity of Provisions. If any provision of this Lease or
the application thereof to any party or circumstances shall, to any extent, be invalid or unenforceable, the remainder of this Lease or the application of such provision to other circumstances shall not be affected thereby. 
  
 26. Successors and Assigns. This Lease shall inure to the
benefit of and be binding upon the parties hereto and their respective successors and assigns. 
  
 27. Memorandum of Lease. Simultaneously with their execution hereof, Landlord and Tenant shall execute the Memorandum of Lease attached hereto to Exhibit B, and Landlord shall promptly record the
same in the public records. 
  
 [THE REMAINDER OF THIS PAGE IS
INTENTIONALLY LEFT BLANK] 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Lease to be executed to be effective as of the
date first above written. 
  

			
	 Monte R. and Susan K. Black

	 Ohio Residents

		
	 By:
	 	 /s/ Monte R. Black

	 Name:
	 	 Monte R. Black

		
	 By:
	 	 /s/ Susan K. Black

	 Name:
	 	 Susan K. Black

	
	 MPW Industrial Services, Inc.
 an Ohio Corporation

		
	 By:
	 	 /s/ R.J. Valentine

	 Name:
	 	 R.J. Valentine

	 Title:
	 	 COO/CFO

  

 9 

 STATE OF OHIO, 
 COUNTY OF
LICKING, ss: 
  
 The foregoing instrument was acknowledged before
me this 30th day of June, 2005 by Monte R. Black, an Ohio Resident. 
  

	
	 /s/ Marla Bushee

	Notary Public

  
 STATE OF OHIO, 
 COUNTY OF LICKING, ss: 
  
 The foregoing instrument was acknowledged before me this 30th day of June, 2005 by Susan K. Black, an Ohio Resident. 
  

	
	 /s/ Marla Bushee

	Notary Public

  
 STATE OF OHIO, 
 COUNTY OF LICKING, ss: 
  
 The foregoing instrument was acknowledged before me this 30th day of June, 2005 by R.J. Valentine, the COO/CFO of MPW Industrial Services, Inc.

  

	
	 /s/ Marla Bushee

	Notary Public

  

 10 

 Exhibit A 
  
 Depiction of Premises 
  

Land 
  
 Situated in the State of Ohio, County of Licking and Township of Union and bounded and described as follows: 
  
 Being Part of Lot 12 I Section 9, Township 17 and Range 18 of the
Refugee Tract and more particularly bounded and described as follows: 
  
 Commencing at a point in the centerline of State Route 37 and in the southwest corner of the Leon Zazworsky property (Deed Reference, Volume 766, Page 42 of the Deed Records of Licking County, Ohio). 
  
 Thence South 280° 40’ 53” West, along the centerline of State
Route 37, 270.59 feet to the true place of beginning for the following described parcel of land; 
  
 Thence South 84° 28’ 19” East, 928.67 feet to a point; 
  
 Thence South 5° 32’ 12” West, passing along the westerly line of the Robert E. & Charlotte L. Embry
property (Deed Reference, Volume 455, Page 451 and Volume 528, Page 734 of the Deed Records), 1960.25 feet to a point; 
  
 Thence North 55° 39’ 53” West, 1554.53 feet to a point; 
  
 Thence North 48° 07’ 48” West, 114.10 feet to a point; 
  
 Thence along the said centerline of State Route 37 with a curve to the right
being referenced by the following courses and distances; 
  
 North 19° 13’ 16” East, 151.00 feet to a point; 
  
 North 27° 26’ 23” East, 200.00 feet to a point; 
  
 North 30° 31’ 03” East, 200.00 feet to a point; 
  
 North 32° 34’ 43” East, 200.00 feet to a point; 
  
 Thence North 33° 29’ 53” East, continuing along the said centerline, 510.27 feet to a point; 
  
 Thence North 28° 40’ 53” East, continuing along the said centerline, 1.36 feet to the place of beginning. 
  
 Contains 45.88 acres, more or less. 
  

 11 

 Subject to all valid and existing easements, conditions, and restrictions on record. 
  
 Exhibit A (Continued) 
  
 Depiction of Premises (Continued) 
  
 Building – Known as the “Industrial Cleaning Building”: the
following dimensions describe the building included in the Premises: 
  

							
	 Location

	  	Dimensions

	  	Square
Footage

	  	Totals

	 	  	 	  	By Area	  	 
	 Maintenance Office
	  	30 x 16	  	480	  	 
	 	  	 	  	 	  	

	 	  	 	  	 	  	480
	 	  	 	  	 	  	

	 Maintenance Shop ( Pick-up)
	  	40 x 40	  	1,600	  	 
	 Maintenance Shop ( Rebuild)
	  	30 x 80	  	2,400	  	 
	 Maintenance Shop ( Brake Area )
	  	30 x 80	  	2,400	  	 
	 Maintenance Shop ( Main Area)
	  	120 x 80	  	9,600	  	 
	 Maintenance Shop ( Mezzanine)
	  	30 x 60	  	1,800	  	 
	 Maintenance Shop ( Small Rebuild)
	  	30 x 80	  	2,400	  	 
	 Maintenance Wharehouse ( Dock)
	  	16 x 80	  	1,280	  	 
	 Maintenance Wharehouse
	  	100 x 80	  	8,000	  	 
	 Maintenance Wharehouse ( Mezzannine)
	  	80 x 28	  	2,240	  	 
	 	  	 	  	 	  	

	 	  	 	  	 	  	31,720
	 	  	 	  	 	  	

	 Training Bay
	  	43 x 80	  	3,440	  	 
	 Training Bay (Mezzanine)
	  	43 x 16	  	688	  	 
	 	  	 	  	 	  	

	 	  	 	  	 	  	4,128
	 	  	 	  	 	  	

	 Wharehouse Hebron
	  	110 x 80	  	8,800	  	 
	 	  	 	  	 	  	

	 	  	 	  	 	  	8,800
	 	  	 	  	 	  	

	 Office (Main 1st Floor)
	  	115 x 54	  	6,210	  	 
	 Office (Main 2nd Floor)
	  	115 x 54	  	6,210	  	 
	 Office NorthWest Wing (1st Floor)
	  	50 x 54	  	2,700	  	 
	 Office NorthWest Wing ( 2nd Floor)
	  	50 x 54	  	2,700	  	 
	 Office South Wing (1st Floor)
	  	75 x30	  	2,250	  	 
	 Office South Wing (2nd Floor)
	  	75 x 30	  	2,250	  	 
	 South Wing Planning Room ( 2nd Floor)
	  	30 x 12	  	360	  	 
	 	  	 	  	 	  	

	 	  	 	  	 	  	22,680
	 	  	 	  	 	  	

	 Industrial Cleaning Building Total
	  	 	  	 	  	67,808
	 	  	 	  	 	  	

  

 12 

 Exhibit B 
  
 Memorandum of Lease 
  
 This Memorandum of Lease is made and entered into as of, although not necessarily on, January 1, 2005, by and between Monte R. and Susan K.
Black, Ohio residents (“Landlord”) and MPW Industrial Services, Inc., an Ohio corporation (“Tenant”). 
  
 1. LEASED PREMISES. Landlord has leased to Tenant the land and building(s) described on Exhibit A, attached to and made a part of this
Memorandum of Lease, for the operation of an industrial services facility and related incidental uses (“Premises”). Tenant has been granted the right to use all easements and appurtenances related to the Premises. 
  
 2. UNRECORDED LEASE. This Memorandum of Lease is made upon all
of the terms, covenants, and conditions set forth in that certain unrecorded lease by and between Landlord and Tenant, made to be effective as of the same effective date as this Memorandum of Lease (the “Unrecorded Lease”). All of the
terms, covenants, and conditions of the Unrecorded Lease are made a part of and as though fully set forth in this Memorandum of Lease. 
  
 3. COMMENCEMENT DATE/TERM/OPTIONS TO EXTEND. The Unrecorded Lease commences on the effective date of this Memorandum of Lease and continues
until December 31, 2009. Tenant has two (2) five (5) year options to extend the term of the Unrecorded Lease. 
  
 4. INTERPRETATION. Landlord and Tenant have entered into this Memorandum of Lease in order that third parties may have notice of the
existence of the Unrecorded Lease. This Memorandum of Lease is not a summary of the Unrecorded Lease. In the event of a conflict between this Memorandum of Lease and the Unrecorded Lease, the Unrecorded Lease controls. 
  
 5. TERMINATION. This Memorandum of Lease automatically
terminates upon the expiration or earlier termination of the Unrecorded Lease. At such time as the Unrecorded Lease expires or is terminated, Landlord may record an affidavit stating that the Unrecorded Lease has expired or terminated as of a
particular date and the recording of such affidavit will operate to terminate this Memorandum of Lease. Such document must be in the form of an affidavit, must include the statement that an individual is swearing to such facts based on his or her
own knowledge, and must be notarized with a jurat as well as an acknowledgment. 
  

 13 

 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 
  

 14 

 IN WITNESS WHEREOF, the parties hereto have caused this Memorandum of Lease to be executed to be
effective as of the date first above written. 
  

			
	 Monte R. and Susan K. Black

	 Ohio Residents

		
	 By:
	 	 /s/ Monte R. Black

	 Name:
	 	 Monte R. Black

		
	 By:
	 	 /s/ Susan K. Black

	 Name:
	 	 Susan K. Black

	
	 MPW Industrial Services, Inc.
 an Ohio Corporation

		
	 By:
	 	 /s/ R.J. Valentine

	 Name:
	 	 R.J. Valentine

	 Title:
	 	 COO/CFO

  

 15 

 STATE OF OHIO, 
 COUNTY OF
LICKING, ss: 
  
 The foregoing instrument was acknowledged before
me this 30th day of June, 2005 by Monte R. Black, an Ohio Resident. 
  

	
	 /s/ Marla Bushee

	Notary Public

  
 STATE OF OHIO, 
 COUNTY OF LICKING, ss: 
  
 The foregoing instrument was acknowledged before me this 30th day of June, 2005 by Susan K. Black, an Ohio Resident. 
  

	
	 /s/ Marla Bushee

	Notary Public

  
 STATE OF OHIO, 
 COUNTY OF LICKING, ss: 
  
 The foregoing instrument was acknowledged before me this 30th day of June, 2005 by R.J. Valentine, the COO/CFO of MPW Industrial Services, Inc.

  

	
	 /s/ Marla Bushee

	Notary Public

  

 16 

 Exhibit A 
  
 Depiction of Premises 
  

Land 
  
 Situated in the State of Ohio, County of Licking and Township of Union and bounded and described as follows: 
  
 Being Part of Lot 12 I Section 9, Township 17 and Range 18 of the
Refugee Tract and more particularly bounded and described as follows: 
  
 Commencing at a point in the centerline of State Route 37 and in the southwest corner of the Leon Zazworsky property (Deed Reference, Volume 766, Page 42 of the Deed Records of Licking County, Ohio). 
  
 Thence South 280° 40’ 53” West, along the centerline of State
Route 37, 270.59 feet to the true place of beginning for the following described parcel of land; 
  
 Thence South 84° 28’ 19” East, 928.67 feet to a point; 
  
 Thence South 5° 32’ 12” West, passing along the westerly line of the Robert E. & Charlotte L. Embry
property (Deed Reference, Volume 455, Page 451 and Volume 528, Page 734 of the Deed Records), 1960.25 feet to a point; 
  
 Thence North 55° 39’ 53” West, 1554.53 feet to a point; 
  
 Thence North 48° 07’ 48” West, 114.10 feet to a point; 
  
 Thence along the said centerline of State Route 37 with a curve to the right
being referenced by the following courses and distances; 
  
 North
19° 13’ 16” East, 151.00 feet to a point; 
  
 North
27° 26’ 23” East, 200.00 feet to a point; 
  
 North
30° 31’ 03” East, 200.00 feet to a point; 
  
 North
32° 34’ 43” East, 200.00 feet to a point; 
  
 Thence
North 33° 29’ 53” East, continuing along the said centerline, 510.27 feet to a point; 
  
 Thence North 28° 40’ 53” East, continuing along the said centerline, 1.36 feet to the place of beginning. 
  
 Contains 45.88 acres, more or less. 
  
 Subject to all valid and existing easements, conditions, and restrictions on
record. 
  

 17 

 Exhibit A (Continued) 
  
 Depiction of Premises (Continued) 
  
 Building – Known as the “Industrial Cleaning Building”: the following dimensions describe the building included
in the Premises: 
  

							
	 Location

	  	Dimensions

	  	Square
Footage

	  	Totals

	 	  	 	  	By Area	  	 
	 Maintenance Office
	  	30 x 16	  	480	  	 
	 	  	 	  	 	  	

	 	  	 	  	 	  	480
	 	  	 	  	 	  	

	 Maintenance Shop ( Pick-up)
	  	40 x 40	  	1,600	  	 
	 Maintenance Shop ( Rebuild)
	  	30 x 80	  	2,400	  	 
	 Maintenance Shop ( Brake Area )
	  	30 x 80	  	2,400	  	 
	 Maintenance Shop ( Main Area)
	  	120 x 80	  	9,600	  	 
	 Maintenance Shop ( Mezzanine)
	  	30 x 60	  	1,800	  	 
	 Maintenance Shop ( Small Rebuild)
	  	30 x 80	  	2,400	  	 
	 Maintenance Wharehouse ( Dock)
	  	16 x 80	  	1,280	  	 
	 Maintenance Wharehouse
	  	100 x 80	  	8,000	  	 
	 Maintenance Wharehouse ( Mezzannine)
	  	80 x 28	  	2,240	  	 
	 	  	 	  	 	  	

	 	  	 	  	 	  	31,720
	 	  	 	  	 	  	

	 Training Bay
	  	43 x 80	  	3,440	  	 
	 Training Bay (Mezzanine)
	  	43 x 16	  	688	  	 
	 	  	 	  	 	  	

	 	  	 	  	 	  	4,128
	 	  	 	  	 	  	

	 Wharehouse Hebron
	  	110 x 80	  	8,800	  	 
	 	  	 	  	 	  	

	 	  	 	  	 	  	8,800
	 	  	 	  	 	  	

	 Office (Main 1st Floor)
	  	115 x 54	  	6,210	  	 
	 Office (Main 2nd Floor)
	  	115 x 54	  	6,210	  	 
	 Office NorthWest Wing (1st Floor)
	  	50 x 54	  	2,700	  	 
	 Office NorthWest Wing ( 2nd Floor)
	  	50 x 54	  	2,700	  	 
	 Office South Wing (1st Floor)
	  	75 x30	  	2,250	  	 
	 Office South Wing (2nd Floor)
	  	75 x 30	  	2,250	  	 
	 South Wing Planning Room ( 2nd Floor)
	  	30 x 12	  	360	  	 
	 	  	 	  	 	  	

	 	  	 	  	 	  	22,680
	 	  	 	  	 	  	

	 Industrial Cleaning Building Total
	  	 	  	 	  	67,808
	 	  	 	  	 	  	

  

 18

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