Document:

ex10_4.htm

Exhibit 10.4

 

STOCK APPRECIATION RIGHT

 

AGREEMENT

 

 

This STOCK APPRECIATION RIGHT AGREEMENT (this "Agreement"), effective as of January 1, 2011, is made by and between CRAFT BREWERS ALLIANCE, INC., a Washington corporation ("Corporation"), and ANDREW J. THOMAS, an independent contractor ("Contractor"):

 

RECITALS

 

A.           Corporation and Contractor are parties to a Consulting Agreement dated January 1, 2011.

 

B.           Corporation wishes to offer certain incentive compensation to Contractor to compensate Contractor for his efforts in increasing Corporation's stock price.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the mutual covenants in this Agreement and other good and valuable consideration, receipt of which is acknowledged, the parties agree as follows:

 

1.           DEFINITIONS

 

1.1           "Board" means the Board of Directors of Corporation.

 

1.2           "Code" means the Internal Revenue Code of 1986, as amended.

 

1.3           "Committee" means Compensation Committee of the Board, or such other committee designated by the Board to oversee this Agreement.

 

1.4           "Common Stock" means the common stock, par value $0.005 per share of Corporation.

 

1.5           "Date of Grant" means January 1, 2011, the date on which Corporation took appropriate action expressly granting the SAR Award to Contractor.

 

1.6           "Exchange Act" means the Securities Exchange Act of 1934, as amended and in effect from time to time, or any successor statute.

 

1.7           "Fair Market Value" means, on any given day, the fair market value per share of the Common Stock determined as follows:

 

(a)           If the Common Stock is admitted to trading on an established securities exchange, the closing sale price of Common Stock as reported for such day by the principal exchange on which Common Stock is traded or, if Common Stock was not traded on such day, on the next preceding day on which Common Stock was traded;

 

  

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(b)           If trading activity in Common Stock is reported on the OTC Bulletin Board, the average of the closing bid and asked prices for such day as reported on the OTC Bulletin Board or, if there are no such quotes for Common Stock for such day, on the next preceding day for which bid and asked price quotes for Common Stock were reported on the OTC Bulletin Board; or

 

(c)           If there is no market for Common Stock or if trading activities for Common Stock are not reported in one of the manners described above, the fair market value will be as determined by the Committee.

 

1.8           "Grant Price" is $7.79, which is the Fair Market Value of one share of Common Stock on the Date of Grant.

 

1.9           "SAR Award" means the right to receive the SAR Value from Corporation.

 

1.10         "SAR Value" means an amount equal to the excess, if any, of the Settlement Price over the Grant Price, multiplied by the number of SARs with respect to which the SAR Award is being settled.

 

1.11         "Securities Act" means the Securities Act of 1933, as amended.

 

1.12         "Settlement Price" is the Fair Market Value of one share of Common Stock on the Settlement Date.

 

1.13         "Stock Appreciation Right" or "SAR" means a measurement unit corresponding to one share of Common Stock used for purposes of measuring the benefits payable to Contractor under this Agreement.

 

2.           SECTION 409A

 

2.1           Exemption from Section 409A  Awards granted under this Agreement are intended to be exempt from Section 409A of the Code ("Code Section 409A"), and ambiguous provisions, if any, shall be construed in a manner that causes each Award to be exempt from Code Section 409A.

 

3.           GRANT OF STOCK APPRECIATION RIGHT

 

3.1           Grant of Stock Appreciation Right  In consideration of Contractor's agreement to provide certain consulting services to Corporation and for other good and valuable consideration, Corporation grants to Contractor a SAR Award covering 10,000 SARs as of the Date of Grant upon the terms and conditions set forth in this Agreement.

 

  

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4.           PERIOD OF EXERCISABILITY

 

4.1           Commencement of Exercisability  The SAR Award is exercisable immediately on the Date of Grant.

 

4.2           Expiration of SAR Award  The SAR Award may not be exercised to any extent by anyone after the expiration of three years from the Date of Grant.

 

5.           SETTLEMENT OF STOCK APPRECIATION RIGHT

 

5.1           Settlement  The SAR Award may be exercised in whole at any time prior to the time when the SAR Award becomes unexercisable under Section 4.2.  In no event may the SAR Award be partially exercised or settled.

 

5.2           Method of Settlement  The SAR Award will be settled by delivery to Corporation of a settlement notice stating the election to settle the SAR Award (the "Settlement Notice").  The SAR Award will be deemed to be exercised upon the date of receipt by Corporation of a fully executed Settlement Notice (the "Settlement Date"), provided that such date is prior to the date the SAR Award expires pursuant to Section 4.2, and the SAR Award will be settled in cash by payment of the SAR Value within 30 days from the Settlement Date.  Notwithstanding the foregoing, if
Contractor dies before the Settlement Date, the SAR Award will be deemed to be exercised on the date of Contractor's death, provided that such date is prior to the date the SAR Award expires pursuant to Section 4.2, and the SAR Award will be settled in cash within 30 days from the date Corporation receives written notice of Contractor's death.

 

6.           ADJUSTMENTS ON CHANGES IN CAPITALIZATION

 

6.1           Agreement Does Not Restrict Corporation  The existence of this Agreement will not affect or restrict in any way the right or power of the Board or the shareholders of Corporation to make or authorize any adjustment, recapitalization, reorganization, or other change in Corporation's capital structure or its business, any merger or consolidation of Corporation, any issue of bonds, debentures, preferred or prior preference shares ahead of or affecting Corporation's Common Stock, the dissolution or liquidation of Corporation, or any sale or transfer of any part of its assets or
business, or any other corporate act or proceeding.

 

6.2           Adjustment to or Cancellation of the SAR Award  Neither (i) the issuance of additional shares of stock of Corporation in exchange for adequate consideration (including services), nor (ii) the conversion of outstanding preferred shares of Corporation into Common Stock, will be deemed to require an adjustment in the SARs covered by the SAR Award or in the purchase price of SARs subject to the SAR Award.  In the event of any change in capitalization affecting the Common Stock, such as a distribution,
split, recapitalization, merger, consolidation, split-up, spin-off, combination or exchange of shares, or other form of reorganization, or any other change affecting the Common Stock, such proportionate adjustments, if any, as the Committee, in its sole discretion, may deem appropriate to reflect such changes will be made with respect to the aggregate number of SARs granted under the Agreement and the Grant Price.  The Committee may also make such adjustments in the number of SARs covered by and the Grant Price of the SARs in the event of a spin-off or other distribution (other than normal cash distributions) of Corporation assets to shareholders.  In the event the Committee determines that an event will occur affecting Corporation such that an adjustment to the SARs should be made but that it is not practical or feasible to make such an adjustment, the Committee
will give notice to Contractor, whereupon Contractor will have the right for a period of 15 days following the notice to exercise the SAR Award in full.  Upon the expiration of this 15-day period, the SAR Award will expire.

 

  

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7.           OTHER PROVISIONS

 

7.1           Conformity to Securities Laws  Contractor acknowledges that the Agreement is intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder.  To the extent permitted by applicable law, this Agreement will be deemed amended to the extent necessary to conform to such laws, rules and regulations.

 

7.2           Construction  This Agreement will be administered, interpreted and enforced under the internal laws of the State of Oregon without regard to conflicts of laws thereof.

 

7.3           Nonassignability of Benefits  The SAR Award and the right to receive payment of the SAR Value may not be sold, transferred, anticipated, assigned, pledged, hypothecated, seized by legal process, subjected to claims of creditors in any way, or otherwise disposed of, except as explicitly set forth in this Agreement.

 

7.4           Notices  Any notice to be given under the terms of this Agreement to Corporation must be addressed to Corporation in care of its Secretary, and any notice to be given to Contractor will be addressed to him at the address given beneath his signature.  By a notice given pursuant to this Section 7.4, either party may designate a different address for notices to be given.  Any notice which is required to be given to Contractor will, if Contractor is then deceased, be given to Contractor's personal representative if such representative has previously
informed Corporation of his status and address by written notice under this Section 7.4.  Any notice will be deemed duly given when enclosed in a properly sealed envelope or wrapper addressed as pursuant to this Section and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service.

 

7.5           Tax Withholding  Contractor is responsible for all withholding related to payment of the SAR Value pursuant to this Agreement, and Contractor will comply with all reporting, payment, and withholding obligations arising from payment of the SAR Value.  Notwithstanding the foregoing, in the event that a determination is made that Corporation is responsible for such withholding obligations, Corporation will comply with all reporting, payment, and withholding obligations arising from payment of the SAR Value.

 

7.6           Titles  Titles are provided in this Agreement for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

 

  

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7.7           Unfunded Obligation  Corporation will not be required to segregate any assets that may at any time be represented by SAR Value.  Any liability of Corporation to any person with respect to any SAR Award under this Agreement will be based solely upon any contractual obligations that may be effected pursuant to this Agreement.  No such obligation of Corporation will be deemed to be secured by any pledge of, or other encumbrance on, any property of Corporation.

 

	 	 	
CRAFT BREWERS ALLIANCE, INC.

	 	 	 	 	 
	
 

	 	
By: 

	/s/Terry E. Michaelson      	 
	 	 	Name:	   Terry E. Michaelson    	 
	 	 	Title:	  CEO	 
	 	 	 	 	 
	 /s/Andrew J. Thomas  	 	 	 	 
	Andrew J. Thomas	 	 	 	 

 

 

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Exhibit 10.24

 

SALES AND USER AGREEMENT

BETWEEN GREEN ENERGY MANAGEMENT SERVICES, INC.

AND RIVERBAY FUND, INC. D/B/A RIVERBAY CORPORATION

 

THIS AGREEMENT made and entered into this 3rd day of May 2011 between Riverbay Corporation (hereafter “Client”), and Green Energy Management Services, Inc. d/b/a Airlock (hereafter “Airlock” or “GEM”), witnesses that:

WHEREAS, Airlock is the distributor of water valve devices manufactured by PMP Pool Maintenance Protection, Inc. that reduce the amount of air in water delivery systems and thus reduce the amount of water for regular and waste purposes utilized by the end-user;

WHEREAS, the Client owns a certain facility located at the Bronx, New York;

WHEREAS, the Client desires to utilize Airlock to provide energy management services for the facilities owned and/or managed by the Client at the Bronx, New York;

NOW THEREFORE, the Client and Airlock agree as follows:

	

1.

  

	
 

	
Context:  This Sales and User Agreement follows those certain conversations between agents of Client and Airlock concerning the testing and ultimate long-term use of the airless water valve technology distributed by Airlock.  To the extent that there is a conflict between this Agreement and those conversations, this Agreement will control.

	

2.

	
 

	
Definitions:  The following defined terms will take the following meaning when referred to in this Sales and User Agreement:

	
  

	
a)

	
“Airlock” shall refer to Airlock, a division of Green Energy Management Services, Inc.

	
  

	
b)

	
“Client” shall refer to Riverbay Corporation.

	
  

	
c)

	
“Unit” shall refer to that certain airless water valve distributed by Airlock that Airlock, in its sole discretion, deems most suited to the needs of the Client.

  

  

  

	
  

	
d)

	
“Agreement” shall refer to this Sales and User Agreement.

 

	
  

	
e)

	
“Client Facilities” shall refer to those facilities at the Bronx, New York in which Airlock will install the Units pursuant to the terms of this Agreement.

	

3.

  

	
 

	
Term:  This Agreement shall have an initial term (the “Initial Term”) of five (5) years from the date of installation of the Unit or Units at the Client Facilities.  After the expiration of this Initial Term, the Agreement may be renewed by Client in its discretion for a period of five (5) years (hereafter “Successive Term”) by giving notice to Airlock within ninety (90) days of the expiration of the Initial Term of its intent to renew the Agreement.  The terms and conditions of this Agreement shall be effective during all Initial and Successive Terms.

	

4. 

	
 

	
Airlock Obligations:  Except as otherwise provided herein or ordered hereunder, Airlock hereby undertakes the following obligations:

 

	
  

	
a)

	
As soon as is reasonably possible after the signing of the Agreement, Airlock will install the Units at the Client Facilities.  The Units will be provided, and the installation will occur, at no cost the Client.

	
  

	
b)

	
During the Initial Term of this Agreement and any Successive Term, Airlock will perform such routine and necessary maintenance on the Units as is required to repair any defect and the normal wear and tear associated with the Units and their components.  The Client will provide Airlock with the ability reasonably to access the Client’s Facilities so as to perform this routine maintenance and to take all steps necessary to insure the efficacy and security of the Units.  This routine and necessary maintenance will be done at no cost to the Client.

  

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c)

	
In the event that GEM grants or has installed any Unit at the facilities of any third party and the installation has occurred under circumstances requiring such third party to pay less than any of the payments set forth in this Agreement, such lesser payments shall be reported by GEM to Riverbay and shall be substituted for the payments payable by Client under this Agreement.

 

	
  

	
d)

	
GEM warrants that the Units installed pursuant to this agreement qualify for sole source treatment pursuant to the Federal Acquisition Regulation 6.02, in that they are the sole and only responsible source for said Units or like products and no other supplies or services satisfy the requirements of the Client.

 

	
  

	
e)

	

GEM warrants that it has exclusive distribution rights to the Units in New York and that it is or will be pursuing litigation against Kevin Hayes and/or any entity owned by him to establish the exclusivity of its rights.  To the extent that said litigation does not establish said exclusivity, or if GEM in its sole discretion determines to discontinue said litigation, then in the month following said occurrence and for the balance of the Term of this Agreement the payment provisions contained in Section 5(a) herein shall revert to the same terms and conditions as contained in the proposal made to the Client by Mr. Hayes and attached hereto (hereafter the “Hayes Terms”), to-wit:

 

	 	
(1)

	
In the event that the Agreement reverts to the Hayes Terms, the Client will monthly remit 60% of the first 15% of the savings obtained through the installation of the Units, with the balance remaining the property of the Client, and;

  

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(2)

	
Client will become the owner of the Units at the conclusion of the five (5) year term.

	

5. 

	
 

	
Client Obligations:  Except as otherwise provided herein or ordered hereunder, Client hereby undertakes the following obligations:

	
  

	
a)

	
During the Initial and any Successive Terms, the Client will calculate upon receipt of its water bills each month for the Client Facilities at which the Units are installed the difference between the amount of the bill during that month in the year prior to the installation of the Units and the amount of the bill during the current month.  To the extent that a separate itemization or bill is made for sewerage in addition to ordinary water usage, then the calculation shall include the difference between the amount of both the sewerage and water bills during that month in the year prior to the installation of the Units and the amount of the bill during the current month.  It will then remit to Airlock, by the tenth of that month, an amount equal to 50% of the difference between the current monthly bill or bills and the amount of the bill or bills during that same month in the year prior to the installation of the Units.

As to both water and sewer bills, the Client will provide Airlock with the ability to view said monthly bills online, at any time during the month, and will provide Airlock with such passwords, access codes, personal identification numbers or other tools necessary to access said account information online.

 

In the event that the occupancy of the Client Facilities increases by more than 10% in any given month, Client will provide Airlock with notice of said increase within five (5) days of said increase.

 

  

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b)

	
Throughout all Terms of this Agreement, it will be presumed that the cost of water and sewerage usage shall be set by the City of New York;

	
  

	
c)

	
The Client will, at its own expense, obtain any servitudes, easements, rights-of-way or other rights necessary for the installation of the Units;

 

	
  

	
d)

	
The Client will undertake, at its own expense, the cost of replacing, repairing or otherwise maintaining any of the Units or their components which have been damaged other than through normal wear and tear or defect in the Unit.  To the extent that the Client desires Airlock to perform the obligations set forth in this Section (5)(d), Airlock will undertake the obligations and will invoice the Client the cost of replacement plus 10%.  Remittance of the amount of these invoices by Client will be net thirty days.

	
  

	
e)

	
The Client shall permit Airlock, at Airlock’s sole expense, to install any such accessory components to the Unit that will protect the security and integrity of the Units provided same does not affect water pressure.

 

	
  

	
f)

	
The Client shall refrain from tampering with, interfering with, hindering or otherwise altering the valve from its state as of the time of installation.  Client understands that if it does tamper with, interfere, hinder or otherwise alter the Unit from its state as of the time of installation, Airlock will suffer damages which are difficult to determine and accurately specify.  Client agrees that if it does tamper with, interfere, hinder or otherwise alter the Unit from its state as of the time of installation, Client shall pay Airlock One Thousand Dollars ($1,000.00) as liquidated damages, and not as a penalty, for its having tampered with, interfered with, hindered or otherwise altered the Unit from its state as of the time of installation.  Liquidated damages shall be paid by Client by the fifteenth (15th) Day of the month following the month in which the liquidated damages were incurred.  The liquidated damages provided herein shall be in lieu of all liability for any and all extra costs, losses, loss of profits, expenses, claims, penalties and any other damages, whether special or consequential, and of whatsoever nature incurred by Airlock which are occasioned solely by the Client having tampered with, interfered with, hindered or otherwise altered the Unit from its state as of the time of installation.  This provision does not apply to any other breaches of this Agreement.  This provision will not apply to building emergencies or Acts of God.

  

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6.

	
Intellectual Property.  The Parties agree that all intellectual property rights, including any patent rights, trademark rights, goodwill or other rights contained in the Units shall remain the sole property of Airlock.  Client is not granted any right to use any of Airlock’s intellectual property without the express, prior written consent of Airlock.

 

	
7.

	
DISCLAIMER OF LIABILITY:  THE UNITS DESCRIBED HEREIN ARE PROVIDED BY AIRLOCK ON AN “AS IS” BASIS, AND AIRLOCK EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THE SERVICE OR ANY INFORMATION AND PRODUCTS.  IN NO EVENT SHALL AIRLOCK BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER WITH RESPECT TO THE SERVICE, THE INFORMATION AND THE PRODUCTS.

  

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8.

	
Termination:  Except as set forth above in Section (3), no Party may terminate this Agreement during the Initial or Successive Terms except for cause.  Cause shall be defined as:

	
  

	
a)

	
The declaration of bankruptcy by either Party;

	
  

	
b)

	
A material default of the obligations contained in Section 5, provided that the Party seeking termination has given written notice to the other Party of the material breach and ten (10) days has lapsed from the giving of the written notice without the material default having been corrected.  In the event of a default under this Section (7)(b) during the Initial or Successive Terms, Airlock has the option of removing the Units or leaving them in place at the point of installation.  In the event that Airlock leaves the Units in place, and the Client continues to utilize said Units to obtain energy savings, the Client shall continue to comply with the obligations called for in Sections 5(a) and (b).

 

	
  

	
c)

	
Riverbay reserves the right to terminate upon thirty (30) days written notice.

 

	
9.

	
Notices:  Except as expressly provided herein to the contrary, any and all notices, requests, demands and other communications which are required or deemed desirable to be given pursuant to the terms of this Agreement (including invoicing) shall be made in writing, and shall be deemed to have been duly given and sufficient in all respects if delivered personally, or sent by registered or certified mail, postage prepaid, return receipt requested, or if sent by nationally-recognized overnight air courier, or by facsimile, with written confirmation of delivery to the following addresses:

  

7

  

 

	
  

	
 

	
If to Airlock:

 

	
  

	
 

	
Airlock, a Division of Green Energy Management Services, Inc.

Attention:  Michael Samuel

3401 N. Miami, Suite 240

Miami, Florida  33127

 

	
  

	
 

	
If to Client:

 

	
  

	
 

	
Michael Munns, Esq. or his successor house legal counsel

Riverbay Corporation

2049 Bartow Avenue

Bronx, New York  10475

 

	
10.

	
Governing Law:  This Agreement, its interpretation, enforcement and application, shall be governed by the laws of the State of New York.

	
11.

	
Venue:  Any action to interpret, obtain a declaration as to any aspect of, to enforce or in any way to refer to this Agreement shall be brought in the Supreme Court for the County of Bronx, New York or, if jurisdiction can be obtained, in the United States District Court for the Southern District of New York.

	
12.

	
Jointly Drafted.  This Agreement has been reviewed and/or revised by counsel for the Client and Airlock.  Accordingly, the Agreement shall be deemed to have been jointly drafted by the Client and Airlock for the purposes of applying any rule of contract construction.

	
13.

	
Severability.  In the event that any provision of this Agreement shall be held to be void, voidable, or unenforceable in any respect, the remaining portions shall remain in full force and effect.

	
14.

	
Headings.  Headings in this Agreement are for the convenience of the parties and are not to be used in construing the document.

  

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15.

	
Complete Agreement.  The Client and Airlock agree that this Agreement, constitutes the full, final and complete settlement of their differences as described herein, and supersedes all other written or oral exchanges, arrangements, or negotiations between them.

	
16.

	
Additional Documents.  The Parties agree that, to the extent that additional documents are necessary to execute the obligations called for in this Agreement, they will execute said documents within five (5) days of the request for execution, and they will further provide such additional reasonable assistance as is necessary for the acquisition and/or assignment of the grants, rebates, carbon credits and tax deductions described herein supra.

	
17.

	
Counterparts.  This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement.  Facsimile signatures shall be deemed original signatures and shall be binding on the parties hereto.

	
18.

	
Effective Date.  This Agreement will become effective upon the first date listed hereinabove.

 

 

	
WITNESSES:

 	 	
GREEN ENERGY MANAGEMENT 

SERVICES, INC. d/b/a AIRLOCK

	 	 	 
	
/s/ Oren Moskowitz

	 	
/s/ Michael Samuel

	 	 	 
	 	 	By: Michael Samuel
	Oren Moskowitz   	 	its  C.E.O.
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	By:
	 	 	its

 

  

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TO:

	
Director, Bureau of Housing Management

N.Y.S. Division of Housing & Community Renewal

25 Beaver Street

New York, N.Y. 10004

	
FROM:  RIVERBAY CORPORATION

	
Date:  March 2, 2011

	 	 
	
SUBJECT:  Bid # 2670, Airless Water Valves

	
Housing Company #:  HC NP-81

We request your approval to award the above work or contract on the basis of the low or Sole source bid of $Based on percentages of savings to Green Energy Management d/b/a Airlock. HM180 “Notification of Intent to Solicit Bids” was forwarded to the Division on N/A and the Division approval was received on N/A. 

 

This contract is not subject to sales tax (if taxable, Bid prices do not include applicable sales tax).

 

The Board of Directors approved the enclosed bid at a valid meeting on February 9, 2011.  Bids were based on identical specifications and scope of work.  Two copies of the recommended bid documents are enclosed.  The Housing Company has taken affirmative steps to solicit bids from minority and women owed business enterprises.  A listing of all contractors invited to bid and bids received is as follows.  (Use additional sheet if necessary).

 

	
COMPANY NAME

	
BASE BID DOLLARS:

	
MBE WBE

	
Green Energy Management d/b/a Airlock

	
Based on percentage of savings.

	  

	
No Bids:

	  
	
Copies of all bids received are enclosed.

	
Funds are available & will be charged to:

	
Budget Code:  1350-1420

	
Resolution #: 10-95

 

Our Counsel has initiated the face of the contract to indicate review & approval of it as to form and execution.

 

If over $100,000 the proposed contract was publicly advertised at least 20 days prior to the date of the bid opening as in the attached newspaper notices.

 

The submitted bid documents should include proof of the following:  *Satisfactory Insurance Coverage* Performance & Payment Bonds (where applicable)

 

	 	Signature:  /s/   Steve Brown
	 	Name & Title:  Steven Brown, Contract Administration

 

  

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Submit original & 2 copies of this form to the Division, retain 1 copy. If not low or sole bid, attach an explanation. 

(FOR DHCR USE ONLY)

 

Date:  April 29, 2011  

 

    X     a.  The Division approves award as recommended by your Company, subject to the comments below, if any.  Kindly send us a duplicate original and a conformed copy of the contract when executed.  NOTE:  The Division must be notified at least one (1) week prior to the start of work.

 

_____  b.  We regret that we must disapprove your request for the following reasons:  Comments on “a” or “b” below:

 

DATE STAMP

 

Reviewed by: /s/ Ricardo Cabodeirlla                    

 

Title:                      HCRS II                                           

 

Approved by:      Ricardo Cabodeirlla                      

 

Title:                 Assistant Controller                                                                            

 

 

 

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