Document:

smsaball8kex101021016.htm

Exhibit 10.1

 

STOCK CANCELLATION AGREEMENT

This Stock Cancellation Agreement (this “Agreement”), dated effective as of February10, 2016 (the “Effective Date”), is entered into by and between Gust C. Kepler (“Stockholder”) and SMSA Ballinger Acquisition Corp., a Nevada corporation (“Company”).

 

WHEREAS, Stockholder is the record and beneficial owner of Nine Million Nine Hundred Thousand (9,900,000) shares of common stock, $.001 par value per share (the “Common Stock”) of the Company;

 

WHEREAS, the Stockholder has agreed to cancel Eight Hundred Thirty-Five Thousand Ten (835,010) shares of Common Stock (the “Subject Shares”);

 

NOW THEREFORE, in consideration of the promises and respective mutual agreements herein contained, it is agreed by and between the parties hereto as follows.

 

1.           Cancellation of Subject Shares.  Upon the terms and subject to the conditions set forth in this Agreement, the Stockholder hereby agrees to cancel and forfeit all of the Stockholder's right, title and interest in and to the Subject Shares. Effective as of the Effective Date, the Stockholder hereby irrevocably instructs the Company and the Company’s transfer agent to cancel the Subject Shares such that the Subject Shares will no longer be outstanding on the stock ledger of the Company and such that the Stockholder shall no longer have any interest in the Subject Shares whatsoever.  The Company shall immediately deliver to the Company’s transfer agent irrevocable instructions providing for the cancellation of the Subject Shares, and the Company shall promptly reissue and deliver to Stockholder a certificate representing any shares of Common Stock held by the Stockholder in excess of the Subject Shares.

 

2.           Entire Agreement.  This Agreement sets forth the entire agreement and understanding of the parties hereto with respect to the transactions contemplated hereby, and supersedes all prior agreements, arrangements and understanding related to the subject matter hereof. No understanding, promise, inducement, statement of intention, representation, warranty, covenant or condition, written or oral, express or implied, whether by statute or otherwise, has been made by any party hereto which is not embodied in this Agreement or the written statement, certificates, or other documents delivered pursuant hereto or in connection with the transactions contemplated hereby, and no party hereto shall be bound by or liable for any alleged understanding, promise, inducement, statement, representation, warranty, covenant or condition not set forth.

 

3.           Governing Law.  This Agreement shall be governed in all respects, including validity, construction, interpretation and effect, by the laws of the State of Texas (without regard to principles of conflicts of law).

4.           Consent to Jurisdiction.  Each party irrevocably submits to the exclusive jurisdiction of the appropriate state or federal court in the State of Texas for the purposes of any suit, action or other proceeding arising out of this Agreement or any transaction contemplated hereby or thereby.  Each party agrees to commence any such action, suit or proceeding in Dallas, Texas.

 

 

  

  

  

5.           Counterparts.  This Agreement may be executed by the parties hereto in separate counterparts each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

6.           Further Assurances.  Each party shall, at the request of the other party, at any time and from time to time following the Effective Date promptly execute and deliver, or cause to be executed and delivered, to such requesting party all such further instruments and take all such further action as may be reasonably necessary or appropriate to carry out the provisions and intents of this Agreement and of the instruments delivered pursuant to this Agreement.

7.           Severability of Provisions.  If any provision or any portion of any provision of this Agreement or the application of any such provision or any portion thereof to any person or circumstance, shall be held invalid or unenforceable, the remaining portion of such provision and the remaining provisions of the Agreement, or the application of such provision or portion of such provision is held invalid or unenforceable to person or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby and such provision or portion of any provision as shall have been held invalid or unenforceable shall be deemed limited or modified to the extent necessary to make it valid and enforceable, in no event shall this Agreement be rendered void or unenforceable.

8.           Captions.  All section titles or captions contained in this Agreement are for convenience only, shall not be deemed a part of this Agreement and shall not affect the meaning or interpretation of this Agreement. All references herein to sections shall be deemed references to such parts of this Agreement, unless the context shall otherwise require.

***Signature Page Follows***

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

2

  

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement, as of the Effective Date.

 

 

 

	 	 
SMSA BALLINGER ACQUISITION CORP.

  

  

By: /s/ Gust C. Kepler 

       Gust C. Kepler, President

  

  

  

/s/ Gust C. Kepler 

Gust C. Kepler, Individually

 

 

 

 

 

 

 

 

 

 

 

  

3EX-10.1

 Exhibit 10.1 

Lennox International Announces $200 Million Accelerated Share Repurchase 

(DALLAS, February 10, 2016) — Lennox International Inc. (NYSE: LII) today announced it has entered into an accelerated share repurchase agreement
(ASR) with Merrill Lynch International, acting through its agent, Merrill Lynch, Pierce, Fenner and Smith Incorporated, to repurchase $200 million of Lennox International’s common stock. 

Under the terms of the ASR, Lennox International has agreed to repurchase $200 million in total of its common stock from Merrill Lynch International with an
initial delivery of approximately 1.3 million shares based on current market prices. The final number of shares to be repurchased will be based on Lennox International’s volume-weighted average stock price, less a discount, during the term
of the ASR program. The ASR is expected to be completed in the second quarter of 2016. 
 Lennox International Inc. is a global leader in the heating, air
conditioning, and refrigeration markets. Lennox International stock is listed on the New York Stock Exchange and traded under the symbol “LII”. Additional information is available at www.lennoxinternational.com or by contacting Steve
Harrison, Vice President, Investor Relations, at 972-497-6670.Exhibit

Exhibit 10.96

Third Amendment
to the
DTE Energy Company Executive Supplemental Retirement Plan
(Amended and Restated Effective January 1, 2005)

Recitals

A.    DTE Energy Company (the “Company”) adopted the DTE Energy Company Executive Supplemental Retirement Plan (Amended and Restated Effective January 1, 2005) (the “Plan”) to enable the Company to attract and retain executives.

B.    The Organization and Compensation Committee (the “Committee”) of the Company’s Board of Directors is authorized to amend the Plan.

C.    By a resolution properly adopted on February 3, 2016, the Committee amends the Plan to reflect changes in names of entities affiliated with the Company and to clarify ambiguous Plan provisions governing participants’ elections to change the form of distribution from the Plan so the provisions reflect the actual administration of the Plan.

Plan Amendment

The DTE Energy Company Executive Supplemental Retirement Plan (Amended and Restated Effective January 1, 2005) is amended as follows:

1.    Effective January 1, 2005, Section 6.04(b)(2)(B)(i) is replaced with the following:

(i)    The Participant’s election is filed with the Committee at least 12 months before the earliest date on which the distribution of the Post-2004 Benefit would begin under the Participant’s then-current distribution election; 

(I)    For purposes of this Section 6.04(b)(2)(B)(i), the date the Participant terminates employment other than because of death is treated as “the earliest date on which distribution of the Post-2004 Benefit would begin” if the Participant has not filed a previous election under this Section 6.04(b)(2)(B) to change the form of distribution of the Post-2004 Benefit. 
 
2.    Effective January 1, 2005, Paragraph (b)(2)(A) under “Payment Options – Post-2004 Benefit” in Appendix A, is replaced with the following:

(A)    The election is filed with the Committee at least 12 months before the earliest date on which the distribution of the Post-2004 Benefit would begin under the then-current distribution election; 

(I)    For purposes of this Paragraph (b)(2)(A), the date the eligible employee terminates employment other than because of death is treated as “the earliest date on which distribution of the Post-2004 Benefit would begin” if the eligible employee has not filed a previous election under this Paragraph (b)(2) to change the form of distribution of the Post-2004 Benefit. 

3.    Effective January 1, 2013, the following references in Appendix A to “The Detroit Edison Company” are replaced with “DTE Electric Company”:

a.    Title
b.    Preamble (two occurrences)
c.    Definition of “Company” (three occurrences)
d.    Definition of “Certain Management or Highly Compensated Employees” 
e.    Paragraph 1(C) of “Eligibility”
f.    Sentence preceding “Schedule of Payments”
g.    “Beneficiary Designation” paragraph
h.    Paragraph 3 of Exhibit A
i.    Title of Addendum I

4.    Effective January 1, 2013, the definition of “Retirement Plan” is amended to read as follows:

Retirement Plan.  The DTE Energy Company Retirement Plan.  The Retirement Plan is a defined benefit pension plan sponsored by DTE Energy Corporate Services, LLC for eligible employees.
 
5.    Effective January 1, 2013, the third paragraph of “Non-Secured Promise; Amendments” in Appendix A is amended by replacing “The Detroit Edison Company” with “DTE Energy Company.” 

6.    Effective as of the date this Third Amendment is adopted, Section 6.01(a) is amended to read as follows:

(a)    The Committee shall direct the Company to distribute each Participant’s Vested Account in accordance with the Participant’s distribution election unless the Plan provides otherwise.  The distribution election shall provide for payment in either (i) annual installments over a period not less than two years and not more than 15 years, in one-year increments, or (ii) a lump sum distribution.  If no distribution election is on file with the Committee, the Participant’s Vested Account shall be distributed in a single lump sum.

7.    Effective January 1, 2016, Section 2.04 is amended to read as follows:

2.04    “Annual Cash Bonus” means the annual incentive compensation payable in the Plan Year under the DTE Energy Company Annual Incentive Plan, the DTE Energy Executive Performance Plan, any similar annual incentive plan of an Affiliated Company, or any successor plan thereto.

8.    Effective as of the date this Third Amendment is adopted, the first two sentences of Section 10.03 are amended to read as follows:

10.03.    Right to Accelerate. The Committee in its sole discretion may accelerate all Pre-2005 Benefits upon termination of the Plan, and pay such benefits in a single lump sum.  The Committee may accelerate payment of Post-2004 Benefits upon termination of the Plan only as permitted by Code Section 409A and the related Treasury Regulations.  

9.    Effective as of the date this Third Amendment is adopted, Section 12.07 is amended to read as follows:

12.07.    Successors. In the event of any consolidation, merger, acquisition or reorganization of the Company, the obligations of the Company under this Plan shall continue and be binding upon the Company and its respective successors.

10.    Effective as of the date this Third Amendment is adopted, Section 14.05 is amended to read as follows:

14.05.    Liability.  Upon and at all times after a Change in Control, the Company shall be liable for all obligations under the Plan to each employee covered by the Plan, regardless of the corporation by which such employee is employed.

11.    Effective as of the date this Third Amendment is adopted, in Appendix A, the third sentence of the definition of “Company” in the “Definition” section is amended to read as follows:

Where the context refers to any liability for the payment of any benefit to an eligible participant or beneficiary thereof, the term "Company" means DTE Energy Company.

12.    Effective as of the date this Third Amendment is adopted, in Appendix A, the last sentence in the “Payment Calculation” section, immediately preceding the “Schedule of Payments” section, is amended to read as follows:

Each payment under this Plan will be reduced by any federal, state, or local taxes that DTE Energy Company determines should be withheld from the payment.

13.    Effective as of the date this Third Amendment is adopted, in Appendix A, the first three paragraphs of the “Non-Secured Promise; Amendments” section are revised to read as follows:

Non‐Secured Promise; Amendments

Eligible participants have the status of general unsecured creditors of DTE Energy Company. This Plan constitutes a promise by DTE Energy Company to make benefit payments in the future. DTE Energy Company intends that this Plan be unfunded for tax purposes and for purposes of Title I of ERISA. DTE Energy Company intends that this Plan be maintained primarily for a select group of management or highly compensated employees.

Payments as they become due under the Plan to or in respect of a Company's former employees shall be paid by DTE Energy Company from its general assets; provided, however, that no provision of the Plan shall preclude DTE Energy Company from segregating assets which are intended to be a source for payment of benefits under the Plan.

The Organization and Compensation Committee of the DTE Energy Company Board of Directors reserves the right to amend, modify, or discontinue this Plan at any time; provided, however, that no such amendment, modification, or termination shall adversely affect the rights of participants or beneficiaries who are receiving or are immediately eligible to receive benefits from this Plan at the time of such amendment, modification, or termination, without such person's prior written consent.

DTE Energy Company has caused this Third Amendment to be executed on the 3rd day of February, 2016.

DTE ENERGY COMPANY

/S/ Larry E. Steward
________________________________
Larry E. Steward
Senior Vice President, Human Resources

Third Amendment to January 1, 2005 Amended and Restated ESRP – Page 1 of 1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00254-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00254-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00254-of-00352.parquet"}]]