Document:

EX-10.11

 Exhibit 10.11 

CONFIDENTIAL 

[•], 2020 
 Marquee Raine Acquisition
Corp. 
 65 East 55th Street, 24th Floor 
 New York, NY 10022

 Attention: Joseph Beyrouty 
  

	 	Re:	 Engagement of Services 

Dear Joseph Beyrouty: 
 This will confirm the basis upon which
Marquee Raine Acquisition Corp. (“Client”) has engaged Raine Securities LLC (“Raine Securities”) to provide independent financial consulting services, consisting of a review of deal structure and terms
and related structuring advice in connection with the transaction described in paragraph 1 below (the “Engagement”). 

1. Fee. The Client proposes to offer and sell an aggregate of 32,500,000 units (the “Units”) of the Company,
consisting of one-fourth of one warrant and one Class A ordinary share and, at the option of Credit Suisse Securities (USA) LLC, as underwriter, up to an additional 4,875,000 units (the
“Optional Units”) in an initial public offering (the “Transaction”). In connection with the consummation of the initial issuance of the Units in the Transaction (the “Closing”),
the Client shall pay Raine Securities a fee in an amount of up to $975,000 (the “Base Fee”), which shall be payable by the Client and due to Raine Securities upon the Closing. If the Closing does not occur during the Term,
then no Base Fee shall be payable to Raine Securities. In the event that the option to purchase the Optional Units is exercised and is actually closed, the Client shall pay Raine Securities an additional fee of up to $146,250 (the
“Additional Fee” and, together with the Base Fee, the “Fees”) (such maximum amount of the Additional Fee to be reduced on a pro rata basis to the extent that the option to purchase the Optional Units
is not exercised in full), which shall be payable by the Client and due to Raine Securities upon the consummation of each issuance of the Optional Units in the Transaction (an “Optional Units Closing”). If the Optional Units
Closing does not occur during the Term, then no Additional Fee shall be payable to Raine Securities. The Fees described in this paragraph 1 are compensation for the Engagement, which consists of work directly related to the Transaction. Any work
that is outside of the scope of the Engagement shall be subject to additional compensation as separately agreed by the parties hereto. 
 2.
Term of Engagement. This Agreement shall remain in force for a period of twelve (12) months from the date hereof, or until 45 days following the consummation of the Transaction, whichever occurs earlier, and may be extended upon mutual
agreement of the parties hereto (including any renewal thereof, the “Term”). The Term may be terminated by either Raine Securities or the Client at any time prior to its expiration with forty-five (45) days advance
written notice to the other. Expiration or termination of this Agreement shall not affect 

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Raine Securities’ right to indemnification or contribution or payment of the Fees in accordance with the terms of this Agreement. Without limiting the foregoing, notwithstanding the
expiration or termination of this Agreement, the provisions of this Agreement shall survive and remain operative in accordance with their respective terms.

3. Scope of Liability. None of Raine Securities or any of its affiliates or their respective control persons, members, managers,
directors, officers, employees or agents shall have any liability (whether direct or indirect, in contract or tort or otherwise) to the Client or to any other person for any error of judgment or for any claim, loss, damage, liability or expense
suffered by the Client or any such other person in connection with, related to or arising out of the matters to which the Engagement relates except to the extent that any such claim, loss, damage, liability or expense is found in a final
non-appealable judgment to constitute willful misconduct or gross negligence on the part of Raine Securities. 
 4. Indemnity and
Contribution. Recognizing that transactions of the type contemplated by the Engagement sometimes result in litigation and that Raine Securities’ role is limited to acting in the capacities described herein, the Client agrees to indemnify
Raine Securities and its affiliates and their respective control persons, members, managers, directors, officers, employees and agents (each, including Raine Securities, an “Indemnified Person”) to the full extent lawful
against any and all claims, losses, damages, liabilities and expenses as incurred (including all reasonable fees and disbursements of each such Indemnified Person’s counsel and all reasonable travel and other out-of-pocket expenses incurred by each such Indemnified Person in connection with investigation of and preparation for any such pending or threatened claims and any litigation or other proceedings arising
therefrom) arising out of any actual or proposed Transaction or the Engagement; provided; however, there shall be excluded from such indemnification any such claim, loss or expense that arises primarily out of or is based primarily
upon any action or failure to act by any Indemnified Person, other than an action or failure to act undertaken at the request or with the consent of the Client, that is found in a final non-appealable judgment to constitute willful misconduct or
gross negligence on the part of any Indemnified Person. 
 The Client shall be notified in writing by Raine Securities if any action, suit or investigation
(an “Action”) is commenced against Raine Securities or, so long as Raine Securities has actual knowledge of such Action, any other Indemnified Person, within a reasonable time after Raine Securities or any other Indemnified
Person shall have been served with a summons or other first legal process, but failure so to notify the Client shall not relieve the Client from any liability that it may have hereunder, except to the extent that such failure so to notify the Client
materially prejudices the Client’s rights. The Client may assume, at its own expense, the defense of any Action exercisable upon written notice to Raine Securities and any such Indemnified Person(s), if applicable, within 30 days of notice by
Raine Securities or such Indemnified Person provided pursuant to the preceding sentence and the Client will have no liability for any legal costs of such Indemnified Person subsequently incurred except as set forth below, and such defense shall be
conducted by counsel chosen by the Client and reasonably satisfactory to Raine Securities and such Indemnified Person(s), if applicable. The Indemnified Person shall have the right to 

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participate in the defense of any Action with counsel selected by it subject to the Client’s right to control the defense thereof. The fees and disbursements of such counsel shall be at the
expense of the Indemnified Person, provided, that if in the reasonable opinion of counsel to the Indemnified Person, (a) there are legal defenses available to an Indemnified Person that are different from or additional to those available
to the Client; or (b) there exists an actual conflict of interest between the Client and the Indemnified Person that cannot be waived, the Client shall be liable for the reasonable fees and expenses of counsel to the Indemnified Person in each
jurisdiction for which the Indemnified Person determines counsel is required. If the Client elects not to compromise or defend such Action, fails to promptly notify the Indemnified Person in writing of its election to defend as provided in this
Agreement, or fails to diligently prosecute the defense of such Action, the Indemnified Person may, subject to the next paragraph, pay, compromise, defend such Action and seek indemnification for any and all damages, expenses, liabilities and losses
based upon, arising from or relating to such Action. The parties hereto and their affiliates shall cooperate with each other in all reasonable respects in connection with the defense of any Action. 

Notwithstanding any other provision of this Agreement, the Client shall not enter into settlement of any Action without the prior written consent of the
Indemnified Person except as provided in this paragraph. If a firm offer is made to settle an Action without permitting or leading to further claims, losses, damages, liability or expense or the creation of a financial or other obligation on the
part of the Indemnified Person and provides, in customary form, for the unconditional release of each Indemnified Person from all liabilities and obligations in connection with such Action and the Client desires to accept and agree to such offer,
the Client shall give written notice to that effect to the Indemnified Person. If the Indemnified Person fails to consent to such firm offer within ten (10) days after its receipt of such notice, the Indemnified Person may continue to contest
or defend such Action and in such event, the maximum liability of the Client as to such Action shall not exceed the amount of such settlement offer plus the Indemnified Person’s costs and expenses (including reasonable fees and disbursements of
counsel and other out-of-pocket expenses) through the end of such ten (10) day period. If the Indemnified Person fails to consent to such firm offer and also fails
to assume defense of such Action, the Client may settle the Action upon the terms set forth in such firm offer to settle such Action. If the Indemnified Person has assumed the defense pursuant to the previous paragraph, it shall not agree to any
settlement without the written consent of the Client. 
 In the event that the foregoing indemnity is unavailable or insufficient to hold such Indemnified
Person(s) harmless, then the Client shall contribute to amounts paid or payable by such Indemnified Person(s) in respect of such claims, losses and expenses in such proportion as appropriately reflects the relative benefits received by, and fault
of, the Client and such Indemnified Person(s) in connection with the matters as to which such claims, losses and expenses relate and other equitable considerations. 

5. Information Provided to Raine Securities. In performing the services described above, the Client agrees to furnish or cause to be
furnished to Raine Securities such information as Raine Securities reasonably believes appropriate to permit Raine Securities to provide the services contemplated by this Agreement to or for the Client (all such information so furnished being the
“Information”). The Client recognizes and confirms that Raine Securities (a) will use 

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and rely primarily on the Information and on information available from generally recognized public sources in performing the services contemplated hereby without having independently verified
any of the same, (b) does not assume responsibility for the accuracy or completeness of the Information and such other information, and (c) will not make any appraisal of any of the assets or liabilities of the Client. 

6. Confidentiality. In the event of the consummation and public disclosure of any Transaction, Raine Securities shall have the right,
to disclose its participation in the Transaction by listing the client name and logo on its website and in its marketing materials. 
 Except as required by
law or regulation, or pursuant to order of a court of competent jurisdiction, no analysis, information or advice, whether communicated in written, electronic, oral or other form, provided by Raine Securities to Client or to its Client
Representatives (as such term is defined below) or its affiliates in connection with the Engagement (the “Raine Securities Information”) shall be disclosed by the Client or such Client Representatives, in whole or in part, to
any third party, or circulated or referred to publicly, or used for any purpose other than in connection with the Engagement and the Transaction without the prior written consent of Raine Securities. Except as required by law or regulation, or
pursuant to order of a court of competent jurisdiction, neither party may disclose to any third party the existence or terms of this Agreement without the prior written consent of the other party. Notwithstanding anything herein to the contrary, the
fact of Raine Securities’ Engagement may be disclosed by the Client to its affiliates and its directors, officers, accountants, legal advisors and employees (the “Client Representatives”) to the extent required for the
exclusive purpose of the Engagement or as required by law, rule or regulation. For avoidance of doubt, Raine Securities’ Engagement may be disclosed in the Client’s registration statement, preliminary prospectus, prospectus and each
amendment or supplement to any of them, as filed with the Securities and Exchange Commission. The Client shall cause and hereby represents that each of its Client Representatives to whom the Raine Securities Information is disclosed is legally bound
to keep such Raine Securities Information confidential as provided by this Section 6. The Client shall be responsible for any damages to Raine Securities to the extent caused by breaches of this Section 6 by any of its Client
Representatives. 
 Raine Securities agrees to keep confidential all material nonpublic information provided to it by the Client (the “Client
Information”). Notwithstanding any provision herein to the contrary, Raine Securities may disclose Client Information to its affiliates and their respective members, directors, officers, accountants, agents, legal advisors and employees
(the “Raine Securities Representatives”) to the extent required for the exclusive purpose of the Engagement. Raine Securities shall cause and hereby represents that each of its Raine Securities Representatives to whom the
Client Information is disclosed is legally bound to keep such Client Information confidential as provided by this Section 6. Raine Securities shall be responsible for any damages to the Client to the extent caused by breaches of this
Section 6 by any of its Raine Securities Representatives. 
 Raine Securities Information shall be considered public and not protected by this
Agreement if (a) it is or becomes generally available to the public other than as a result of a disclosure by the Client or a Client Representatives in breach of the terms of this Section 6, (b) it becomes available to the Client on a non-confidential basis from a source (other than Raine Securities or a Raine Securities Representative) not known by the Client to be under a duty of confidentiality to Raine Securities, or (c) if it is already
known to the Client at the time of disclosure. 

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 Nothing in this Agreement shall obligate either party to refrain from disclosure of Raine Securities
Information or the Client Information (as the case may be, “Confidential Information”) hereunder to the extent such disclosure is required by law, regulation (including rules of any self-regulatory organization) or judicial
process or at the request of a regulatory authority (including any self-regulatory organization). In the event that any Confidential Information is required to be disclosed by law, including without limitation, pursuant to the terms of a subpoena or
similar document or in connection with litigation or other legal proceedings, the receiving party of such information hereby agrees, to the extent permitted by applicable law or regulation, to notify the disclosing party promptly of the existence,
terms and circumstances surrounding such request. To the extent permitted by applicable law or regulation (including rules of any self-regulatory organization), the receiving party shall allow the disclosing party, in its sole discretion and at its
sole expense, to contest the disclosure of Confidential Information on the disclosing party’s behalf, and the receiving party will reasonably cooperate with the disclosing party in such efforts to contest such disclosure at disclosing
party’s expense. 
 Each party hereto acknowledges and agrees that irreparable damage would occur to the other and their respective affiliates in the
event any of the provisions of this Section 6 were not performed in accordance with their specific terms or were otherwise breached and monetary damages would not be a sufficient remedy for any such
non-performance or breach. Accordingly, each party shall be entitled to specific performance of the terms of this Section 6, including, without limitation, an injunction or injunctions to prevent breaches
of the provisions of this Section 6 and to enforce specifically the terms and provisions hereof in any court of competent jurisdiction in New York, New York or the Federal District Court for the Southern District of New York in addition to any
other remedy to which such party may be entitled at law or in equity. 

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 The parties hereto agree that the provisions of this Section 6 will survive the expiration or
termination of this Agreement for two (2) years after such expiration or termination. 
 7. Governing Law. This Agreement shall
be governed by, and construed in accordance with, the laws of the State of New York (including, without limitation, provisions concerning limitations of actions), without reference to the conflicts of laws rules of that or any other jurisdiction,
except that Federal law shall also apply to the extent relevant. 
 To the full extent lawful, each of the Client and Raine Securities hereby
consents irrevocably to the exclusive jurisdiction of the courts of the State of New York located in the Borough of Manhattan, New York as having proper subject matter jurisdiction, or the Federal District Court for the Southern District of New
York. Any suit involving any dispute or matter arising under this Agreement may only be brought before a judge in the courts of the State of New York located in the Borough of Manhattan, New York or the Federal District Court for the Southern
District of New York, and each of the Client and Raine Securities consents to the exercise of personal jurisdiction by any such court with respect to such proceeding. 

Each of the Client and Raine Securities hereby irrevocably waives trial by jury. 

8. Miscellaneous. 
 (a)
The parties understand that Raine Securities is being engaged hereunder as an independent contractor to provide the services described above solely to the Client, and that Raine Securities is not acting as a fiduciary of the Client, the security
holders or creditors of the Client or any other persons in connection with the Engagement. 
 (b) The Client understands and acknowledges
that Raine Securities and its affiliates (collectively, the “Raine Securities Group”), engage in providing a wide range of consulting activities and financial services in a broad spectrum of activities, including investment
banking, private placement and lending, principal investing, financial and merger and acquisition advisory services, underwriting, investment management activities, sponsoring and managing private investment funds, brokerage, trustee and similar
activities on a global basis. In the ordinary course of business, the Raine Securities Group and certain of its employees, as well as 

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investment funds in which they may have financial interests, may acquire, hold or sell, long or short positions, or trade or otherwise effect transactions, in debt, equity, and other securities
and financial instruments (including bank loans and other obligations) of, or investments in, a party that may be involved in the matters contemplated by this Agreement. With respect to any such securities, financial instruments and/or investments,
all rights in respect of such securities, financial instruments and investments, including any voting rights, will be exercised by the holder of the rights, in its sole discretion. In addition, the Raine Securities Group may currently, and may in
the future, have relationships with parties other than the Client, including parties that may have interests with respect to the Client, the Transaction or other parties involved in the Transaction, from which conflicting interests or duties may
arise. Although the Raine Securities Group in the course of such other activities and relationships may acquire information about the Client, the Transaction or such other parties, the Raine Securities Group shall have no obligation to, and may not
be contractually permitted to, disclose such information, or the fact that the Raine Securities Group is in possession of such information, to the Client or to use such information on the Client’s behalf. 

(c) This Agreement incorporates the entire agreement, and supersedes all prior agreements, arrangements or understandings (whether oral or
written), between the parties with respect to the subject matter hereof, and may not be amended or modified except in writing signed by each party hereto. 

(d) This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original and all of which together will
be deemed to be one and the same document. 
 (e) Raine Securities agrees that it shall have no right, title, interest or claim of any kind
(each, a “Claim”) in or to any monies held in the trust account established in connection with the Client’s initial public offering for the benefit of the Client and holders of shares issued in such offering, and hereby
waives any Claim it may have in the future as a result of, or arising out of, any services provided to the Client and will not seek recourse against such trust account for any reason whatsoever. 

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 If you are in agreement with the foregoing, please sign and return the attached copy of this Agreement,
whereupon this Agreement shall become effective as of the date hereof. 
  

			
	Very truly yours,
	
	Raine Securities LLC
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	 Acknowledged and Agreed on
 this
____ day of ________, 2020:

	
	 Marquee Raine Acquisition Corp.

		
	By:	 	 
		 	Name:
		 	Title:Exhibit 10.4a
​
CALERES, INC.
INCENTIVE AND STOCK COMPENSATION PLAN OF 2017
​
PERFORMANCE AWARD AGREEMENT
​
THIS AWARD AGREEMENT, effective August 2, 2020, represents the grant of Performance Shares (“Shares”) (collectively, the "Award") by Caleres, Inc. ("Company") to the Participant named below, who has been selected by the Compensation Committee of the Company's Board of Directors (the "Committee") to receive the Award with respect to the Performance Periods set forth below under the Company’s Incentive and Stock Compensation Plan of 2017 (the "Plan").  Subject to the key terms set forth below and the attached General Terms and Conditions (dated as of August 23, 2017), all of which constitute part of this Agreement, this Award provides:
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Participant:
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Performance Award, being comprised of the following:
Number of Performance Shares:
Form of Payment:  Shares of Company stock
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Performance Cycle:   The Company’s Fiscal Years 2020 through 2022
Performance Periods:  Four distinct performance periods:  Q3 and Q4 fiscal 2020, fiscal 2021, fiscal 2022 and the three-year period of fiscal 2020 - 2022 with one-fourth of the target award allocated to each of fiscal 2020, fiscal 2021, fiscal 2022 and the three-year period of fiscal 2020 – 2022.
Performance:  As approved by the Committee
Minimum Performance Level:  As approved by the Committee
Maximum Award Value:  200% of Target Award for each Performance Period
Performance Measure(s):  Cumulative Adjusted EPS, EBITDA as a percent of Net
Assets, and Strategic Initiatives
​
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed effective as of the last date written below.
​
	​
	    
	CALERES, INC.

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	​

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	By:

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_____________________

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	Becky Helvey

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	Director, Total Rewards

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	Date: September 8, 2020

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	Accepted:
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	Participant Signature
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	Date:
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	​

​
​

Caleres, Inc.
PERFORMANCE AWARD 2020 to 2022
General Terms and Conditions (as of August 23, 2017)
The parties hereto agree as follows:
1.         Performance Period(s).  The Performance Period(s) shall be as specified on the executed cover page of this Award.
2.         Performance Measure(s).  The Performance Measure(s) shall be as specified on the executed coverage page of this Award.
3.         Value of Award.  The Award shall represent and have a Maximum Award Value as specified on the executed cover page of this Award.
4.         Earning the Award; Certification of Performance and Percent Earned.  The portion of the Award allocated to a Performance Period shall be “earned” following the end of such Performance Period, as of the date the Committee shall determine and certify: (a) whether the Minimum Performance Level (as set forth on Attachment A) has been satisfied; (b) and if so, the percent of the Award that has been earned in accordance with the Performance Payoff Profile (as set forth on Attachment A) (the “Percent Earned”), but in no event  more than the Maximum Award Value; and provided that the determinations pursuant to (a) and (b) shall be subject to the Committee’s right to exercise its discretion to reduce the Company’s level of performance based on the quality of earnings pursuant to Section 9 of the Plan.  All calculations as to the Performance Measures shall be adjusted (1) pursuant to Section 14.2 of the Plan and (2) to exclude all items of gain, loss or expense for the Performance Period determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business or related to a change in accounting principle all as determined in accordance with applicable accounting standards established pursuant to generally accepted accounting principles.
5.         Amount Payable and Payment of the Award.
(a)        Unless this Award is sooner terminated in accordance with Section 5, an earned Award (as provided in Section 3) shall be payable within sixty (60) days following completion of the Performance Cycle.  Subject to Section 5(b) and in accordance with Section 5(c), this Award shall not be payable and shall be forfeited if Participant terminates employment with the Company prior to the date that the Award payment is made to the Participant.
(b)        The amount payable to the Participant shall be determined by multiplying the Percent Earned by the Target Award specified on Attachment A, subject to the Committee’s right to exercise discretion as provided in Section 3.
(c)        Unless otherwise specified on the executed cover page of this Award, payment of the earned Performance Shares shall be made in shares of the Company’s Common Stock (“Shares”).
​
​

6.         Termination Provisions.
(a)  If, pursuant to Section 3, the Committee certifies that the Minimum Performance Level has not been achieved, this Award shall immediately terminate and no longer be of any effect.
(b)  If Participant’s employment is terminated during the Performance Period by reason of death, Disability, retirement (as determined and approved by the Committee) or early retirement (as determined and approved by the Committee), the Committee, in its sole discretion, shall determine whether the Participant (or Participant’s beneficiary in the event of death) shall be eligible to receive any payment under this Award.  If payment of this Award is approved by the Committee, such payment shall be pro-rated based on the number of full months of continued active employment by Participant during the Performance Cycle as a percent of the total number of months in the Performance Cycle; the amount payable shall be based on the Percent Earned; and payment shall be made pursuant to Section 4 at the same time as payment of other awards for the same Performance Cycle are made to other eligible participants who did not terminate employment during the Performance Cycle.  Notwithstanding the foregoing, in the event of Participant’s termination due to death or Disability, if approved by the Committee, such pro-rated payment may be made prior to expiration of the Performance Cycle, with calculation of and timing of the payment amount to be determined by the Committee.
(c)  Except as provided in subsection 5(b), a Participant shall be eligible for payment of the earned Award, as specified in Section 3, only if the Participant remains continuously employed by the Company from the date of this Agreement, through the end of the Performance Cycle and continuing thereafter until the date the Awards is actually paid.
7.         Dividends.  The Participant shall have no right to any dividends that may be paid with respect to Shares until any such shares are vested.
8.         Change in Control.  If a Participant is employed by the Company on the date of a Change in Control, subject to Article 13 of the Plan, unless otherwise specifically prohibited under applicable laws, or by the rules and regulations of any governing governmental agencies or national securities exchange, the Award shall be deemed to have been fully earned for the entire Performance Cycle and fully vested as of the effective date of the Change in Control; and based upon an assumed achievement of all relevant targeted performance goals, the Award shall be payable in the amounts or at the level provided by the above-referenced provisions of the Plan within thirty (30) days following the effective date of the Change in Control.
9.         Recapitalization.  Subject to Section 4.2 of the Plan, in the event that there is any change in corporate capitalization, such as a stock split, or a corporate transaction, such as any merger, consolidation, separation including a spin-off, or other distribution of stock or property of the Company, any reorganization (whether or not such reorganization comes within the definition of such term in Code 368) or any partial or complete liquidation of the Company, such adjustment shall be made in the number and class and/or price of the  Shares subject to this Award, as may be determined to be appropriate and equitable by the Committee, in its sole discretion, to prevent dilution or enlargement of rights; provided, however, that the number of Performance Shares subject to this Award shall always be a whole number.
10.       Tax Withholding.  The Committee shall have the power and the right to deduct or withhold, or require the Participant or beneficiary to remit to the Company, an amount sufficient to satisfy Federal, state, and local taxes, domestic or foreign, required by law or regulation to be
​

withheld with respect to any taxable event arising as a result of the Award.  In satisfaction of such requirements, subject to the approval of the Committee, the Participant may elect, within an election period specified by the Company, to satisfy the withholding requirement, in whole or in part, by having the Company withhold from the payment of the Award: (a) Shares having a Fair Market Value on the date the tax is to be determined equal to the minimum statutory total tax which could be withheld on the transaction (“Withholding Amount”), or at such other rate as will not result in adverse accounting treatment, as determined by the Board in its sole discretion,  from that portion of the Award that is payable in Shares, if any; and/or (b) cash equal to the Withholding Amount from that portion of the Award that is payable in cash, if any; or (c) a combination of (a) and (b).  All such elections shall be irrevocable, made in writing, signed by the Participant, and shall be subject to any restrictions or limitations that the Committee, in its sole discretion, deems appropriate.
11.       Clawback.  Any payouts will be subject to recovery if it is determined that the Participant personally and knowingly engaged in practices that materially contributed to the circumstances that led to the restatement of the Company’s financial statements.
12.       Nontransferability.  This Agreement, as well as the rights granted thereunder, may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution.
13.       Administration.
(a)  This Award and the rights of the Participant hereunder are subject to all terms and conditions of the Plan, as the same may be amended from time to time, as well as to such rules and regulations as the Committee may adopt for administration of the Plan.  It is expressly understood that the Committee is authorized to administer, construe, and make all determinations necessary or appropriate to the administration of the Plan and this Agreement, all of which shall be binding upon the Participant.
(b)  If there is any inconsistency between the terms of this Award and the terms of the Plan, the Plan’s terms shall completely supersede and replace the conflicting terms of this Agreement.  All capitalized terms shall have the meanings ascribed to them in the Plan unless specifically set forth otherwise herein.
14.       Miscellaneous
(a)        This Agreement shall not confer upon the Participant any right to continuation of employment by the Company, nor shall this Agreement interfere in any way with the Company’s right to terminate his or her employment at any time.
(b)        The Committee and/or the Company’s Board of Directors may terminate, amend, or modify the Plan; provided, however, that no such termination, amendment, or modification of the Plan may in any way adversely affect the Participant’s rights under this Agreement without the Participant’s written consent.
(c)        This Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.
​
​

(d)        To the extent not preempted by Federal law, this Agreement shall be construed in accordance with and governed by the substantive laws of the State of Missouri without regard to conflicts of laws principles, which might otherwise apply.  Any litigation arising out of, in connection with, or concerning any aspect of the Plan or this Agreement shall be conducted exclusively in the State or Federal courts in Missouri.

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