Document:

Exhibit 10.1

 

THIRD AMENDMENT TO CONTRACT CASH SOLUTIONS AGREEMENT

 

 

THIS THIRD AMENDMENT TO CONTRACT CASH SOLUTIONS AGREEMENT (this “Amendment”), dated and effective as of November 4, 2013, is made and entered into among GLOBAL CASH ACCESS, INC. (“GCA” or “Client”) and WELLS FARGO BANK, N.A. (“Wells Fargo”).

 

R E C I T A L S:

 

A.        Client and Wells Fargo entered into a Contract Cash Solutions Agreement, dated as of November 12, 2010 (as modified or amended from time to time, the “Agreement”).

 

B.        Client has requested that Wells Fargo extend the term of the Agreement through November 30, 2015, and subject to and on the terms and conditions of this Amendment, Wells Fargo has agreed to do so.

 

NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto agree as follows, intending to be legally bound:

 

ARTICLE I

 

Definitions

 

Capitalized terms used in this Amendment, to the extent not otherwise defined herein, shall have the meanings assigned to such terms in the Agreement.

 

ARTICLE II

 

Amendments

 

 

 

Section 2.2.   Term.  Section XI.A is amended and restated in its entirety to read as follows:

 

 

 

“General.  The initial term of this Agreement, which expired on November 30, 2013, was previously extended through November 30, 2014, pursuant to a written amendment to the Agreement.   The Parties hereby agree to further extend the term of the Agreement to November 30, 2015.  In addition, the Agreement shall be renewed for additional one-year periods unless a Party gives at least 90 days’ prior written notice of its intent not to renew, provided, however, that each such renewal shall be subject to a written agreement about pricing and such other terms and conditions to be mutually agreed upon among the Parties (the “Stated Termination Date”), unless earlier terminated by a Party as provided in this Agreement (the “Actual Termination Date”).”

 

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ARTICLE III

 

Representations and Warranties; Acknowledgments

 

Each of the Parties represents and warrants to the other that (i) the execution, delivery and performance of this Amendment has been duly authorized by all requisite action on its part; and (ii) it is in compliance with the terms of the Agreement applicable to it.

 

 

ARTICLE IV

 

General Provisions

 

Section 4.1.     Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same document.

 

Section 4.2.     Facsimile Signatures.  Delivery by fax of an executed counterpart of a signature page to this Amendment shall be effective as delivery of an original executed counterpart of this Amendment.

 

Section 4.3.     Section Headings.  The section headings in this Amendment are for purposes of reference only and shall not limit or affect any of the terms hereof.

 

Section 4.4.     Successors and Assigns.  This Amendment is binding upon and shall inure to the benefit of parties hereto and their respective successors and assigns, subject, however, to the requirements of Section XIII.D of the Agreement.

 

Section 4.5.     Governing Law.  The Governing Law shall govern this Amendment and the interpretation thereof.

 

Section 4.6.     Entire Agreement; Modification.  This Amendment constitutes the entire agreement between Wells Fargo and Client relating to the subject matter hereof and may not be changed orally, but only by written instrument signed by both Parties.  There are no restrictions, promises, warranties, covenants, or undertakings relating to the subject matter of this Amendment other than those expressly set forth or referred to herein.  Nothing in this Amendment alters or impairs the Agreement except for the amendments specifically provided herein.

 

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IN WITNESS WHEREOF, each of the Parties hereto has caused this Amendment to be executed on its behalf by its duly authorized officers, as of the date and year written above.

 

 

	
GLOBAL CASH ACCESS, INC.  
    	
WELLS FARGO BANK, N. A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   David Lopez
    	
 
    	
By:
    	
/s/ Olga E. Wisnicky
    	
 
    
	
 
    	
Name: David   Lopez 
   Title: Chief Executive Officer
    	
 
    	
 
    	
Name: Olga E.   Wisnicky 
   Title: Vice President
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    

 

3Exhibit 10.1

 

November 4, 2013

 

Timothy E. Morris

c/o VIVUS, Inc.

351 E. Evelyn Avenue

Mountain View, CA  94041

 

Dear Tim:

 

Reference is made to the Amended and Restated Change of Control and Severance Agreement between you and VIVUS, Inc, (the “Company”), effective as of July 1, 2013 (the “AR Severance Agreement”).  Capitalized terms in this letter agreement that are not otherwise defined herein shall have the same meanings as in the AR Severance Agreement.

 

In connection with the change in the majority of the Board of Directors of Company and the material reduction or change in your job duties and responsibilities as a result of you no longer having the duties and responsibilities of the Chief Financial Officer or those associated as the head of investor relations, human resources and corporate development, the Company acknowledges and agrees that (x) a Change of Control has occurred under the AR Severance Agreement and (y) you will be entitled to terminate your employment for Good Reason under the terms of the AR Severance Agreement.  As a result of the foregoing, you are agreeing to continue your employment until December 31, 2013 to assist with the transition of your duties, at such date your employment will terminate automatically for Good Reason pursuant to Section 2(a)(ii) of the AR Severance Agreement and you shall, subject to Sections 4 and 7 of the AR Severance Agreement, continue to be entitled to the severance payment and benefits set forth in Section 2(a)(ii) of the AR Severance Agreement.

 

If you agree with foregoing, please execute this letter agreement below.  If you have any questions, please do not hesitate to contact me.

 

	
Sincerely,
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/   Seth H. Z. Fischer
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Seth   H. Z. Fischer
    	
 
    	
 
    
	
Chief   Executive Officer
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Acknowledged   and Agreed to:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
/s/   Timothy E. Morris
    
	
 
    	
 
    	
Timothy   E. MorrisExhibit 10.1

 

RELEASE AGREEMENT

 

This is an Agreement between KEMET Corporation (“KEMET” or “the Company”) and Marc Kotelon (“Kotelon”), on behalf of his heirs, executors, administrators, attorneys, agents and/or assigns (collectively, “the Parties”).

 

WHEREAS, Kotelon has been employed by KEMET Electronics SAS (“KEMET Electronics”), a French affiliate of KEMET, as Executive Vice President — Global Sales;

 

WHEREAS, during Kotelon’s employment with KEMET Electronics, the Company has publicly identified Kotelon as an Executive Officer and a Named Executive Officer of the Company, and, as part of his duties with KEMET Electronics, Kotelon conducted his activities under the authority of the Chief Executive Officer of the Company;

 

WHEREAS, the Company and Kotelon do not anticipate that there will be any disputes between them or legal claims arising out of Employee’s relationship with the Company, but nevertheless, desire to ensure a completely amicable parting and to settle fully and finally any and all differences or claims that might arise out of Kotelon’s relationship with the Company; and

 

WHEREAS, each Party acknowledges and agrees that he or it has had the opportunity to consult with counsel concerning this Agreement;

 

NOW, THEREFORE, in consideration of the promises herein, the parties agree as follows:

 

1.             Within twenty-one (21) days following the execution of this Agreement and provided Kotelon is otherwise in compliance with the provisions of this Agreement, KEMET will pay Kotelon a lump-sum payment in the amount of $387,850. KEMET will provide this payment notwithstanding the fact that, in the absence of this Agreement, Kotelon would not be entitled to it.

 

Kotelon acknowledges and represents that KEMET was not his employer and does not owe him any wages, employment benefits and/or other compensation.

 

2.             In exchange for valid and sufficient consideration provided Kotelon hereunder, Kotelon forever releases KEMET and Related Persons (which includes, as applicable, affiliates (including but not limited to KEMET Electronics) and each of KEMET’s and its affiliates’ successors, assigns, predecessors, directors, officers, shareholders, members, employees, representatives, agents, counsel, and insurers, and the heirs, administrators, executors, successors, and assigns of each of the foregoing) from, and covenants not to bring suit or otherwise institute legal proceedings against any of them arising in whole or in part from, all known and unknown claims that Kotelon now has or may have or that Kotelon may hereafter have of any nature whatsoever, be they common law or statutory, legal or equitable, in contract or tort, including but not limited to claims arising out of Kotelon’s role as an Executive Officer and Named Executive Officer of the Company, any disclosures or statements made by the Company in relation thereto, Kotelon’s employment with KEMET Electronics and/or the termination of that employment, and including but not limited to claims under Title VII of the Civil Rights Act of 1964, as amended (42 U.S.C. §2000e, et seq.); the Civil Rights Act of 1991; the Civil Rights Acts of 1866 or 1871 (42 U.S.C. §§1981, 1983, 1985, et seq.); the Age

 

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Discrimination in Employment Act (“ADEA”); the Americans with Disabilities Act of 1990 (“ADA”); the Employment Retirement Income Security Act of 1974 (“ERISA”); the Fair Labor Standards and the Equal Pay Acts (“FLSA”); the Family and Medical Leave Act (“FMLA”); the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”), and any similar state or local or other applicable jurisdiction’s laws; claims relating to any rights under company policies or otherwise relating to compensation or benefits (including but not limited to sales commission), claims for damages of any kind and nature including compensatory, general, special or punitive; and/or claims for attorney’s fees and/or costs.  This release does not waive any right that cannot be waived by law.

 

Kotelon hereby represents and warrants that he has not filed or reported any claims or complaints in any forum and that he has not assigned to any third party or filed with any agency or court any claim released by this paragraph 2.

 

3.             Kotelon agrees to refrain from any publication, oral or written, of a disparaging, defamatory, or otherwise derogatory nature to any third party, including but not limited to employees or suppliers, pertaining to KEMET, KEMET Electronics and/or Related Persons.

 

4.             Kotelon agrees to reasonably cooperate with KEMET in the defense of any claims, demands, allegations, or other assertion of legal rights made against the Company or its Related Persons by a third party and relating to events occurring prior to the execution of this Agreement of which Kotelon has or may have knowledge.  Kotelon agrees that he will not communicate in any fashion with any party, including any representative thereof or legal counsel therefore, engaged in or considering legal proceedings against the Company or its Related Persons other than as required by a facially valid subpoena, court order, administrative order, or other legal process requiring such communication and, further, that within 5 business days of his receipt of any such legal process will provide the at-issue entity/ies with notice thereof.  Kotelon further agrees to reasonably cooperate with any efforts of the Company or its Related Persons to quash any such legal process.

 

5.             This Agreement will be binding upon the parties hereto and upon their heirs, administrators, representatives, executors, successors, and assigns, and will insure to the benefit of said parties and each of them and their heirs, administrators, representatives, executors, successors, and assigns.  This Agreement contains the entire agreement of both parties about the subjects in it, and it replaces all prior or contemporaneous oral or written agreements, understandings, statements, representations, and promises by either party.  It may be modified or amended only by a writing signed by both parties. Should any provision of the Agreement be declared or determined by any court to be illegal or invalid, the validity of the remaining parts, terms or provisions shall not be affected thereby and the illegal or invalid part, term or provision shall be deemed not to be a part of the Agreement.

 

6.             To the extent permitted by federal law, this Agreement will be governed by and construed in accordance with the laws of the State of Delaware and without regard to principles of conflicts of law.  Any judicial action arising under this Agreement, and not otherwise prohibited by this Agreement, will be instituted only in state and/or federal courts located in Greenville County, South Carolina.  Kotelon and the Company hereby expressly consent to the exclusive jurisdiction of and waive any objection to venue in such courts.

 

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7.             The spirit and intent of this Agreement is to terminate with finality any and all issues or claims existing between KEMET and its Related Persons and Kotelon on the date hereof, whether known or unknown, and this Agreement will be interpreted in accordance with such spirit and intent.  Kotelon acknowledges and agrees that he has had the opportunity and sufficient time to review the agreement with his counsel.

 

Kotelon represents and agrees that he has fully read and understands the meaning of this Agreement and is voluntarily entering into this Agreement with the intention of giving up all claims against KEMET and Related Persons.

 

	
 
    	
 
    	
 
    	
KEMET   Corporation
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date:
    	
AUG.   29TH, 2013
    	
 
    	
By:
    	
/s/   PER-OLOF LOOF
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
Name:
    	
PER-OLOF   LOOF
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
Title:
    	
CEO
    

 

 

	
Date:
    	
AUG.   29TH, 2013
    	
 
    	
/s/   MARC KOTELON
    
	
 
    	
 
    	
 
    	
Marc   Kotelon
    

 

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