Document:

AGREEMENT

 

THIS IS AN IMPORTANT LEGAL DOCUMENT. YOU SHOULD READ IT CAREFULLY,
AND REVIEW IT WITH ANY LAWYER OF YOUR CHOOSING BEFORE YOU SIGN IT.

 

This Agreement (Agreement) is made and entered by and
among Thomas A. Joseph (Joseph) and The Cincinnati Insurance Company, an Ohio corporation and those affiliates of CIC, which
are signatories hereto (collectively CIC). In consideration of the mutual promises contained in this Agreement, CIC and
Joseph agree as follows:

 

		1.	CIC agrees to:

 

		a)	Pay all compensation earned by Joseph through September 24, 2012 (the Separation Date), including payment for all accrued
and unused vacation time through the Separation Date;

 

		b)	Pay severance in an amount equivalent to 25 months of salary ($1,188,010.00), less all required tax withholdings, payable in
50 installments, with the first payment in the amount of $68,538.00 to be paid on November 2, 2012 and the remaining installments
in the amount of $22,846.35 each to be paid in accordance with the company’s regular bi-weekly pay schedule beginning on
November 16, 2012, with the final installment to be paid on September 19, 2014;

 

		c)	Pay, on or before March 15, 2013, a lump sum in an amount equivalent to annual incentive compensation that Joseph would have
received, if any, pursuant to the annual incentive compensation award agreement, dated February 17, 2012, had Joseph remained employed,
except that such amount will be pro-rated for the number of weeks that Joseph was actually employed by CIC in 2012;

 

		d)	For purposes of any and all outstanding grants of stock-based compensation, as of the date this Agreement becomes effective,
CIC shall consider Joseph to have been in the continuous employment of the company for 35 years, intending said grants of stock-based
compensation to operate according to their terms as if Joseph’s termination of employment occurs due to normal retirement
or retirement after 35 years of continuous service. Therefore:

 

		i)	The vesting of outstanding service-based restricted stock units (RSUs) is accelerated, and the shares underlying any RSU grants
will be issued to Joseph, net of shares withheld for taxes, as soon as practicable after this Agreement becomes effective;

		ii)	The vesting of outstanding performance-based restricted stock units (PSUs) remain conditioned upon CIC’s achievement
of specified performance-based objectives specified in each PSU grant agreement, and the shares underlying any and all PSU grants,
if any, based upon the level of CIC’s achievement of the specified performance objectives, will be issued to Joseph, net
of shares withheld for taxes, at the timing specified in the PSU grant agreement;

 

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		iii)	The vesting of outstanding non-qualified stock options (Options) is accelerated and the period of time during which such Options
may be exercised is extended to the earlier of 5 years after the date this Agreement becomes effective or the expiration of an
option agreement;

 

		e)	CIC acknowledges that Joseph is fully vested in his accounts under the CFC Savings Plan (the 401k Plan). The full amount of
Joseph’s accounts (including earnings therein) under the 401k Plan shall be paid to Joseph in accordance with the terms of
the 401k Plan. In addition, the full amount of Joseph’s balance under CFC’s Top Hat Plan shall be paid to Joseph in
accordance with the terms of the Top Hat Plan;

  

		f)	Transfer ownership and title of the company car currently assigned to Joseph within 30 days of the date this Agreement becomes
effective. CIC agrees to be responsible for payment of all taxes and fees associated with the transfer;

 

		g)	Respond to any and all written requests for references sent to its Human Resources Department by stating only: the dates of
Joseph’s employment; the position(s) held by him and that Joseph resigned his positions from CIC and accepted a separation
offer enabling his early retirement, all in connection with certain corporate restructuring;

 

		h)	Refrain from contesting any claim for unemployment compensation benefits that may be filed along with its promise to report
the amount of payment provided herein;

 

		i)	Refrain from cancelling any coverage for Joseph under any director and officer liability insurance policy otherwise maintained
by CIC with respect to current or former officers and directors and shall not discriminate against Joseph vis-à-vis other
officers and former officers in any purchase or renewal of any such policy or any purchase of an extended reporting period under
a policy that is not renewed;

 

		j)	Waive, release, and hold Joseph harmless from any claims, suits or liabilities arising from or by reason of his employment
with CIC or otherwise up to and including the Separation Date. CIC shall not sue Joseph with respect to any such matters, including,
but not limited to, any and all claims under the common law for breach of express or implied contract, violation of the covenant
of good faith and fair dealing, violation of public policy, personal tort, negligence, slander, defamation, invasion of privacy,
false light, false imprisonment, trespass, breach of fiduciary duty, intentional interference, intentional or negligent infliction
of emotional distress, intrusion, loss of consortium, punitive damages, and claims that CIC has, may have or that may have arisen
up to and including the Separation Date;

 

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		k)	Separately provide a description of Joseph’s rights under COBRA along with an explanation of the status, continuation
or termination of other benefits plans.

 

		2.	Joseph agrees:

 

		a)	To resign from all of his positions as an officer or director of CIC;

 

		b)	To release CIC from all claims he ever had or might now have against CIC arising out of or relating in any way to his employment
with CIC or to the termination of that employment. This release applies to all claims, whether or not he is or ever was aware that
they existed. The claims he is releasing specifically include, but are not limited to, any claims he might have under any federal,
state or local law concerning discrimination on the basis of age, sex, race, color, religion, national origin, sexual orientation,
marital or veteran status, handicap, disability, or the like, or retaliation or harassment under any such laws. This release further
specifically includes any and all claims which could be asserted under Ohio Revised Code Chapter 4112, the Ohio Whistleblower’s
Statute, Ohio Revised Code Chapter 4113.52, et seq., the laws of any state or district, the Age Discrimination in Employment Act,
Title VII of the Civil Rights Act of 1964, the Employee Retirement Income Security Act (“ERISA”), the Civil Rights
Act of 1991, 42 U.S.C. § 1981 et seq., the Americans with Disabilities Act, the Rehabilitation Act, and the Family and Medical
Leave Act. Additionally, Joseph agrees to release CIC from any claims for breach of contract, wrongful discharge, emotional distress,
defamation, invasion of privacy, false light, harassment, and any claims under federal, state or local law governing salary, wages,
benefits or other compensation, except that this release shall not affect any rights of Joseph for benefits payable under any Social
Security, worker’s compensation or unemployment laws. Joseph further understands that this release includes, without limitation,
any and all claims for damages, whether equitable, compensatory, liquidated, punitive or in the form of attorney fees, expenses
or costs. Notwithstanding the foregoing, nothing herein shall release CIC from any claim that cannot be waived as a matter of law
or from any claim based on (i) Joseph’s vested benefits under the employee benefit plans of Cincinnati Financial Corporation
or (ii) Joseph’s eligibility for indemnification in accordance with applicable laws or the Articles of Incorporation or Code
of Regulations of Cincinnati Financial Corporation (or any affiliate or subsidiary), if any;

 

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		c)	To refrain from initiating, pursuing or voluntarily assisting in the prosecution of any lawsuit, charge, arbitration or other
legal proceeding against CIC on account of any act, omission or event occurring on or before the Separation Date. Joseph also represents
that he has not filed or initiated any such legal proceeding against CIC and he acknowledges that CIC is relying on such representation
in entering into this Agreement with him. Nothing herein shall preclude or prohibit Joseph from giving truthful testimony under
oath in response to a subpoena or court order compelling his testimony for any legal, regulatory or administrative proceeding;

 

		d)	That for a period of 24 months following the Separation Date (the Noncompetition Period), he will not, directly or indirectly,
engage in the property and casualty insurance business as conducted by CIC as of the date of this Agreement in any of the 39 states
in which CIC conducts its property and casualty insurance business. However, except as provided in the next sentence, the foregoing
shall not prohibit Joseph from engaging in the reinsurance business through employment or consulting services by or for a reinsurance
company or a reinsurance broker during the Noncompetition Period. If Joseph becomes engaged in the reinsurance business, and thereafter
during the Noncompetition Period, such reinsurance company or broker also becomes engaged in the primary property and casualty
insurance business, Joseph shall be prohibited from engaging in such primary property and casualty insurance business during the
Noncompetition Period;

 

		e)	That he will not make or cause to be made, publicly or privately, orally or in writing, any utterance, remark, statement or
act which suggests or implies that CIC or any of its officers, directors or employees, participated in, acquiesced in or affirmed
any wrongful, illegal or unethical conduct in connection with anything that happened on or before the Separation Date. Joseph also
agrees that, at any time after the Separation Date, he will not make any statements or remarks about CIC or any of its officers,
directors or employees, whether he regards them to be true or not, which could have the effect of causing any creditors, investors,
customers, agents, insureds, employees or any other person to question the financial condition, integrity or quality of operations
of CIC or its management. Joseph further agrees that any utterance, remark, statement or act described above that is made by his
spouse shall be deemed to have been made by him for the purpose of this Paragraph. Notwithstanding the foregoing, nothing herein
shall preclude or prohibit Joseph from giving truthful testimony under oath in response to a subpoena or court order compelling
his testimony for any legal, regulatory or administrative proceeding. Joseph further understands and agrees that, if he breaches
any of the provisions contained in this Paragraph, he shall pay to CIC, as liquidated damages, ten thousand dollars ($10,000.00)
for each breach. Nothing in this Paragraph is intended to limit CIC’s right to obtain injunctive or any other relief it believes
is appropriate. This is a material provision of this Agreement;

 

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		f)	That he has had access to, learned and been provided with confidential and proprietary information and trade secrets of CIC
(Confidential or Proprietary Information), all of which are the valuable property of CIC. Joseph agrees that he will not, at any
time in the future, disclose or use for his own benefit or for the benefit of any other person, any Confidential or Proprietary
Information relating to CIC or to any of its customers, agents, insureds, claimants, or employees. Confidential or Proprietary
Information means (a) information not generally known to the public, (b) which was disclosed to or known by Joseph as a consequence
of, or through, his employment with CIC, (c) concerning the finances, governance, business plans, contracts, processes, organization,
operational methods, technologies and systems owned or used by CIC, the disclosure of which might be of assistance to competitors
of CIC or which might damage the reputation, business relationships and/or goodwill of CIC; provided, however, that Confidential
or Proprietary Information shall not include information that is now or later becomes part of the public domain. Joseph also agrees
that he will not keep or take with him any writing or thing that constitutes or describes or contains any such Confidential or
Proprietary Information. This is a material provision of this Agreement;

 

		g)	To return, or will return upon signing this Agreement, all property of CIC in his possession, including but not limited to,
keys, access cards, data storage devices, documents, directories, manuals, equipment, company credit cards and checks as well as
all passwords and codes he has used on any computer that is the property of CIC;

 

		h)	That he has been issued a company credit card in the joint names of CIC and Joseph in connection with his employment with CIC
(the “Company Credit Card”). Joseph shall pay, within thirty (30) days of his receipt of a statement therefor, any
and all charges incurred by him for personal purposes on the Company Credit Card, and CIC shall promptly pay the remaining charges
incurred on the Company Credit Card. Upon full payment of the outstanding balance, the parties agree to promptly cancel the Company
Credit Card or to remove Joseph’s name from the account;

 

		i)	That he will not directly or indirectly solicit, induce or otherwise encourage any associate of CIC to leave the employment
of CIC for a period of twenty-four (24) months after the Separation Date;

 

		j)	To cooperate with CIC to the fullest extent of his ability and, (if asked by CIC to do so) with any attorney and any expert
CIC may designate, in the investigation, defense and resolution of any threatened or asserted litigation, claims, potential claims
and investigation initiated against or involving CIC, including without limitation, truthfully testifying on its behalf or (at
its request) on their behalf in connection with any such investigation or proceeding. Joseph agrees to provide such time and services
as may reasonably be required hereunder without additional remuneration during that period for which CIC is paying him severance
pay described in Paragraph 1 above. Thereafter, should CIC require his service, CIC will pay Joseph a mutually negotiated fee for
his time and services pursuant to this Paragraph. Additionally, CIC will reimburse Joseph for any reasonable expenses he actually
incurs in providing authorized services to CIC pursuant to this Paragraph at any time, provided that Joseph submits itemized accounts
of such expenses and original receipts as CIC may reasonably require;

 

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		k)	That if he files a lawsuit against CIC asserting any claims expressly released by him in this Agreement, engages in the property
and casualty insurance business during the Noncompetition Period, communicates disparaging information about CIC, uses or discloses
any Confidential or Proprietary Information of CIC, encourages an associate of CIC to leave the employment of CIC or otherwise
breaches this Agreement, CIC, in addition to and not instead of any other available legal or equitable remedies, will have the
right to immediately discontinue all further payments described in Paragraph 1 of this Agreement and Joseph will immediately return
all payments previously received from CIC pursuant to this Agreement;

 

		l)	That the terms of this Agreement have been explained to him, that he has had adequate opportunity to consult with an advisor
of his choosing, that he voluntarily has decided to give up all rights to make any claims, or maintain any lawsuit, against CIC,
and that he intends to be legally bound;

 

		m)	That he has twenty-one (21) days from the day he received this Agreement to decide whether he wants to sign it. Joseph may
sign it in less than 21 days if he wishes;

 

		n)	That he has seven (7) days from the date he signs this Agreement within which to change his mind and revoke his signature.
The date under his signature will mark the beginning of the seven-day revocation period. To revoke his written notice, he must
notify CIC in writing of such revocation within seven days to Brian Wood in the Human Resources Department of CIC. The words, “I
revoke my signature on the Agreement” are adequate notice of revocation. The obligations set forth in Paragraph 1 of this
Agreement will not be effective until those seven days have expired;

 

		3.	The parties intend that the various applicable provisions of this Agreement either are exempt from Section 409A of the Internal
Revenue Code of 1986, as amended, or satisfy the requirements of Section 409A. The parties agree that this Agreement shall be interpreted
accordingly. Joseph agrees that he shall be responsible for all taxes associated with benefits provided hereunder, including any
tax, interest and/or penalty resulting from non-compliance with Section 409A of the Code. CIC does not guarantee any particular
tax consequences.

 

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		4.	Other than as described in this Agreement, there are no promises, assurances or representations made by either CIC or Joseph
concerning the subject of this Agreement. The terms of this Agreement fully supersede any and all prior and contemporaneous understandings
and agreements between Joseph and CIC with respect to the terms of this Agreement, which are replaced by and merged into this Agreement.
The terms of this Agreement may not be changed except in a written document signed by both Joseph and CIC’s Chief Executive
Officer or other authorized representative.

 

JOSEPH UNDERSTANDS THAT BY SIGNING THIS AGREEMENT AND ACCEPTING
THE TERMS DESCRIBED HEREIN, HE IS FOREVER GIVING UP THE RIGHT TO SUE CIC FOR ANY CLAIMS OF ANY KIND HE MIGHT HAVE AGAINST CIC THAT
ARE EXPRESSLY RELEASED BY JOSEPH HEREIN BASED ON ANY EVENTS THAT HAVE OCCURRED UP TO AND INCLUDING THE DATE THIS AGREEMENT BECOMES
EFFECTIVE.

 

	 	
        THE CINCINNATI INSURANCE COMPANY

        CINCINNATI FINANCIAL CORPORATION

        THE CINCINNATI CASUALTY COMPANY

        THE CINCINNATI INDEMNITY COMPANY

        THE CINCINNATI SPECIALTY UNDERWRITERS INSURANCE COMPANY

        THE CINCINNATI LIFE INSURANCE COMPANY

        CFC INVESTMENT COMPANY

        CSU PRODUCER RESOURCES INC.

         

         

         

         

	
        October 19, 2012

        Date Offered
	
        /s/ Steven J. Johnston

        By: Steven J. Johnston

        Their: Chief Executive Officer

         

         

	
        October 19, 2012

        Date Accepted
	
        /s/ Thomas A. Joseph

        Thomas A. Joseph

 

    	7f8k1202_x101-acem.htm

Exhibit 10.1

 

MUTUAL RESCISSION OF CONTRACT AGREEMENT

This Mutual Rescission of Contract Agreement of mutual rescission of a contract made and entered into this 17th day of October, 2012, (the “Rescission Agreement”) by and between ACEM HOLDINGS, INC. formerly E Med Future, Inc., Nevada corporation [“Acem”] and SIYARHOLDING AG, a Swiss corporation ("Siyar"), PURE EARTH HOLDINGS LTD,  a Cyprus corporation  ("Pure"),  TOTAL  INVEST  INTERNATIONAL BV, a Netherlands corporation ("Total"),  WISTALS INVESTMENT GROUP AG, a Swiss corporation ("Wistals"), VELA HELEEN HOLDINFG GMBH, a Swiss corporation ("Vela"), A VANBUUREN an individual resident in the Netherlands ("van Buuren"), and SEC ATTORNEYS, LLC a Connecticut limited liability company ("Sec Attorneys") and, collectively the "Parties").

 

    The Parties hereby mutually acknowledge and agree that:

 

    Acem entered into an Acquisition Agreement dated December 10, 2011 (the “Acquisition Agreement”) which is attached and marked Exhibit A with the Sellers to acquire ACEM HOLDING AG, a Swiss company ACEM HOLDING AG is a Swiss company which owns all of the shares of ACEM MADENCIHLIK LTD a Turkish company that acquired from the Turkish state authorities a permit to mine in the county of Merkez, in the north of the village Azikan (Yazibasi) a surface of 490 hectors for the exploration of manganese ore.

 

    1.   The Parties have been unable to date to consummate the Acquisition Agreement as a result of a dispute and have reached a complete impasse.

 

    2.    The Parties to that Acquisition Agreement and to this Rescission Agreement wish to rescind that Acquisition Agreement.

 

    Therefore, in consideration of the mutual covenants of the Parties, the Parties hereby rescind the aforementioned Acquisition Agreement effective as of this day first written above.  This Rescission Agreement shall be binding upon the Parties, their successors, assigns and personal representatives.  None of the Parties shall have any further rights or duties thereunder.

  

1

  

This agreement shall be enforced under the laws of the State of Connecticut.  This is the entire agreement.

 

	 	 	 	 E MED FUTURE, INC.	 
	 	 	 	 	 
	 	 	 By:	/s/Riched Fokker	 
	 	 	 	M.C. (Richard) Fokker, CEO & Director	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	SIYAR HOLDING AG	 
	 	 	 	 	 
	 	 	 By:	/s/Riched Fokker	 
	 	 	 	M.C. (Richard) Fokker, Managing Director	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	PURE EARTH HOLDINGS LTD	 
	 	 	 	 	 
	 	 	 By:	/s/Monterey Exec. LTD	 
	 	 	 	Monterey Exec. LTD	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	TOTAL INVEST INTERNATIONAL BV	 
	 	 	 	 	 
	 	 	 By:	/s/J.M. Erkelens	 
	 	 	 	J.M. Erkelens	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	WISTALS INVESTMENTS GROUP AG	 
	 	 	 	 	 
	 	 	 By:	/s/E.B.H.G. Meijers	 
	 	 	 	E.B.H.G. Meijers	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	VELAHELEEN HOLDING GMBH	 
	 	 	 	 	 
	 	 	 By:	/s/Richard Fokker	 
	 	 	 	M.C. (Richard) Fokker, Managing Director	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	/s/J.M. Erkelens 	 
	 	 	 	Avan Buure	 
	 	 	 	 Signed by J.M. Erkelens by power of Attorney	 

 

  

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	 	 	 	SEC ATTORNEYS, LLC	 
	 	 	 	 	 
	 	 	 By:	/s/Jerry Gruenbaum	 
	 	 	 	Jerry Gruenbaum, Esq.	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	The Company	 
	 	 	 	 	 
	 	 	 	ACEMMADENCICHLIK LTD	 
	 	 	 	 	 
	 	 	By:	/s/Riched Fokker	 
	 	 	 	M.C. (Richard) Fokker, Managing Director	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	ESCROW AGENT	 
	 	 	 	 	 
	 	 	By:	/s/Jerry Gruenbaum	 
	 	 	 	Jerry Gruenbaum, Esq.	 

 

  

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