Document:

EXHIBIT 10.3

ASSIGNMENT
OF REAL ESTATE SALE AGREEMENT

This Assignment of Real
Estate Sale Agreement (this “Assignment”) is made to be effective as of
November 14, 2006, by HARVARD PROPERTY TRUST, LLC, a Delaware limited liability company (“Assignor”),
and BEHRINGER HARVARD OPPORTUNITY OP I LP, a Texas limited partnership (“Assignee”).

BACKGROUND

A.            Assignor, as Purchaser, has entered
into that certain Real Estate Sale Agreement dated as of November 14, 2006 (the
“Agreement”), with CMD Realty Investment Fund II, L.P., an Illinois
limited partnership, as Seller, in respect of an office building having a
street address of 17300
Dallas Parkway, Dallas County, Texas.

B.            Assignor desires to assign all of its interest in the
Agreement to Assignee and Assignee desires to accept the assignment.

AGREEMENT

For good and valuable
consideration, receipt of which is acknowledged, Assignor assigns to Assignee
all of Assignor’s interest in the Agreement. 
Assignee accepts the assignment and assumes and shall perform all of Assignor’s
duties as Purchaser under the Agreement.

[This space intentionally
left blank]

 

EXECUTED to be effective
as of the day and year first above written.

	
  

  	
   

  	
  ASSIGNOR:

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  HARVARD PROPERTY TRUST, LLC,

  	 

	
   

  	
   

  	
  a Delaware limited liability company

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   Gerald J.
  Reihsen, III

  
	
   

  	
   

  	
   

  	
   Executive
  Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ASSIGNEE:

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  BEHRINGER HARVARD OPPORTUNITY

  	 

	
   

  	
   

  	
  OP I LP, a Texas
  limited partnership

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   By:

  	
  Behringer Harvard Opportunity REIT I,

  	 

	
   

  	
   

  	
   

  	
  Inc., Its General Partner

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
  Gerald J. Reihsen, III

  	 

	
   

  	
   

  	
   

  	
  SecretaryEXHIBIT 10.4

ASSIGNMENT
OF REAL ESTATE SALE AGREEMENT

This Assignment of Real
Estate Sale Agreement (this “Assignment”) is made to be effective as of
December 12, 2006, by BEHRINGER HARVARD OPPORTUNITY OP I LP, a Texas limited partnership (“Assignor”),
and BEHRINGER HARVARD BENT TREE LP, a Delaware limited partnership (“Assignee”).

BACKGROUND

A.            Harvard Property Trust, LLC, a Delaware limited
liability company (“HPT”), as Purchaser, entered into that certain Real Estate
Sale Agreement dated as of November 14, 2006 (the “Agreement”), with CMD Realty Investment Fund II, L.P., an
Illinois limited partnership, as Seller, in respect of an
office building having a street address of 17300 Dallas Parkway, Dallas County, Texas.

B.            By that certain Assignment of Real Estate
Sale Agreement dated as of November 14, 2006, HPT assigned its right, title and
interest in the Agreement to Assignor.

B.            Assignor desires to assign all of
its interest in the Agreement to Assignee and Assignee desires to accept the
assignment.

AGREEMENT

For good and valuable
consideration, receipt of which is acknowledged, Assignor assigns to Assignee
all of Assignor’s interest in the Agreement. 
Assignee accepts the assignment and assumes and shall perform all of
Assignor’s duties as Purchaser under the Agreement.

[This space intentionally
left blank]

 

EXECUTED to be effective
as of the day and year first above written.

	
   

  	
   

  	
  ASSIGNOR:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BEHRINGER HARVARD OPPORTUNITY

  
	
   

  	
   

  	
  OP I LP, a Texas
  limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   By:

  	
   

  	
  Behringer Harvard Opportunity REIT I,

  
	
   

  	
   

  	
   

  	
   

  	
  Inc., Its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Gerald J. Reihsen, III

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Secretary

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BEHRINGER HARVARD BENT TREE LP,

  
	
   

  	
   

  	
  a Delaware limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   By:

  	
  Behringer Harvard Bent Tree GP, LLC,

  
	
   

  	
   

  	
   

  	
  Its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Gerald J. Reihsen, III

  
	
   

  	
   

  	
   

  	
   

  	
  SecretaryExhibit 10.01

 

Assignment
and Assumption Agreement

Pursuant to paragraph 15
of the Employment Agreement (the “Employment Agreement”) between Walter
Industries, Inc., a Delaware Corporation (“Walter”) and Mr. Gregory E. Hyland
dated as of September 9, 2005, as amended, Walter hereby assigns to Mueller
Water Products, Inc., a Delaware Corporation (“Mueller”), and Mueller hereby
assumes, all of Walter’s rights and obligations under the Employment Agreement
and under the Executive Change-In-Control Severance Agreement dated September
16, 2005 between Walter and Mr. Hyland; provided,
however, that Walter shall retain the obligation to determine and
pay Mr. Hyland’s incentive compensation payment for calendar year 2006 in
accordance with the terms of the Walter Industries, Inc. Executive Incentive
Plan.

Executed as of the close
of business on this 14th day of December, 2006

	
  WALTER INDUSTRIES, INC.

  	
   

  	
  MUELLER WATER PRODUCTS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Victor P. Patrick

  	
   

  	
   

  	
   

  	
  /s/ Jennifer Thomas

  	
   

  
	
  By:

  	
   

  	
  Victor P. Patrick

  	
   

  	
  By:

  	
   

  	
  Jennifer Thomas

  
	
  Title:

  	
   

  	
  Vice Chairman

  	
   

  	
  Title:

  	
   

  	
  Executive Vice President

  

 

 

	
  Accepted and Agreed:

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  /s/ Gregory E. Hyland

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Gregory E. HylandExhibit 10.02

 

Assignment
and Assumption Agreement

Walter Industries, Inc.,
a Delaware corporation (“Walter”) hereby assigns to Mueller Water Products,
Inc., a Delaware corporation (“Mueller”), and Mueller hereby assumes, all of
Walter’s rights and obligations under the Employment Agreement between Walter
and Raymond P. Torok dated July 12, 2004, and under the Executive
Change-In-Control Agreement.

Dated as of the close of business on this 14th day of December 2006

 

	
  WALTER INDUSTRIES, INC.

  	
   

  	
  MUELLER WATER PRODUCTS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Victor P. Patrick

  	
   

  	
   

  	
   

  	
  /s/ Jennifer Thomas

  	
   

  
	
  By:

  	
   

  	
  Victor P. Patrick

  	
   

  	
  By:

  	
   

  	
  Jennifer Thomas

  
	
  Title:

  	
   

  	
  Vice Chairman

  	
   

  	
  Title:

  	
   

  	
  Executive Vice President

  

 

 

	
  Accepted and Agreed:

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  /s/ Raymond P. Torok

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Raymond P. TorokExhibit 10.3

Walter
Industries, Inc.

Mueller Water Products, Inc.

JOINT
LITIGATION AGREEMENT

THIS JOINT LITIGATION AGREEMENT
is made between Walter Industries, Inc., a Delaware corporation (“WLT”), and
Mueller Water Products, Inc., a Delaware corporation (“MWA”), and by each of
them for their respective subsidiaries (together with WLT and MWA, the “Corporate
Entity Parties”), and their respective affiliates, advisors, and agents, all to
the extent reflected in this Agreement (the “Parties”), effective as of
December 14, 2006 ( the “Spin-Off Date”).

WHEREAS, WLT acquired all of the
outstanding equity of MWA in October 2005;

WHEREAS, in May 2006, MWA sold
shares of its Series A common stock to public stockholders in an initial public
offering (the “IPO”), after which WLT, through its ownership of all of MWA’s
outstanding Series B common stock, retained approximately 96% of the voting
control of MWA, and approximately 75% of the economic value of MWA, so that the
interests of WLT and MWA continued to be substantially aligned;

WHEREAS, WLT intends to
distribute all of its Series B common stock of MWA to WLT’s shareholders of
record on December 6, 2006, effective December 14, 2006 (the “Spin-Off”);

WHEREAS, the Corporate Entity
Parties have been involved in pending or potential claims and litigation
referred to herein and in the schedules hereto (the “Litigation”) that involve
or could potentially involve Corporate Entity Parties that will not be
affiliated with each other after the Spin-Off;

WHEREAS, the Parties as
identified herein have developed a substantial amount of evidence and work
product relating to the Litigation and have, prior to the effective date of the
Spin-Off, engaged in communications that are protected by the attorney work
product, attorney-client, and joint defense privileges;

WHEREAS, the parties currently
share certain information that is protected as confidential, or under
attorney-client privileges, or as attorney work product, and the parties agree
that after the Spin-Off such information should continue to be treated as
confidential, or protected by attorney work product or attorney-client
privileges;

WHEREAS, the Corporate Entity
Parties are willing to provide access to such evidence and work product on
certain conditions; and

WHEREAS, the Corporate Entity
Parties desire to allocate responsibilities for the Litigation and any future
litigation and claims or potential claims (“Claims”) as provided

 D-1
 

 

 

herein and, to
share insurance coverages and indemnification from third parties that may be
available to both parties;

NOW, THEREFORE, in consideration
of the foregoing premises and of the mutual agreements and other good and
valuable consideration hereinafter set forth, the receipt and sufficiency of
which is hereby acknowledged, the parties hereto, intending to be legally
bound, do hereby agree as follows:

1.     Statement
of Intent.

The Parties
acknowledge that the intent of the Spin-Off will be to separate the flow
control businesses of MWA from the distinct home construction and sales related
businesses and coal-related businesses of WLT. 
The Parties note that such businesses are and have historically been,
unique and separate businesses, and that it is the intent of the Parties that
the Litigation and Claims referred to herein, and any subsequent litigation
related to any of the businesses of any of the Corporate Entity Parties, should
be allocated as much as possible to the type of business out of which the
Litigation or Claim arose.  Thus, it is
the intent of the parties that MWA be responsible for all Litigation and Claims
arising from the flow control businesses, and that WLT be responsible for all
Litigation and Claims arising from the home construction and sales related
businesses and coal-related businesses, and that Litigation and Claims that
relate to both shall be allocated and shared as agreed to by the Parties, or as
determined by the Arbitrator as set out below.

2.     Allocation
of Responsibility for Litigation and Claims.

(a)                                  Schedule
A Litigation.  WLT shall indemnify,
defend and hold harmless MWA and the Corporate Entity Parties affiliated with
MWA immediately after the Spin-Off, from and against any costs, expenses and
damages assessed as a result of the Litigation or Claims listed on Schedule A
hereto.  Such Litigation and Claims shall
be referred to as the “Schedule A Litigation”.

(b)                                 Schedule
B Litigation.  MWA shall indemnify,
defend and hold harmless WLT and the Corporate Entity Parties affiliated with
WLT immediately after the Spin-Off, from and against any costs, expenses and
damages assessed as a result of the Litigation or Claims listed on Schedule B
hereto.  Such Litigation and Claims shall
be referred to as the “Schedule B Litigation”.

(c)                                  Schedule
C Litigation.  WLT and MWA shall shares
the costs, expenses and damages assessed as a result of the Litigation or
Claims listed on Schedule C hereto, according to the allocations set out in
Schedule C hereto, or, if no allocations have been agreed between the Parties,
then in such amounts as the parties may agree in the future, or as their
interests in the Litigation or Claims may ultimately be decided (the “Allocated

 D-2
 

 

 

Share”).  Such Litigation and Claims shall be referred
to as the “Schedule C Litigation”.

3.     Future
Litigation and Claims.

(a)                                  With
respect to future Litigation or Claims, as soon as practicable after the
identification of such Litigation or Claims by any Party, the Parties shall
consult with a view to reaching an agreement on whether they can allocate
responsibility for such matters between the parties in accordance with the
statement of intent set forth in Section 1 of this Agreement.  It is the intent of the Parties that the
Litigation and Claims provided for be assumed fully by one Party or the other,
or that the parties agree to allocate responsibility for such Litigation or
Claims between themselves in the same fashion as envisioned for the Schedule C
Litigation.

(b)                                 If
the Parties are unable to allocate responsibility for any Litigation or Claims
hereunder, then the Parties may agree that such allocations shall be as determined
by any third party (such as an outside law firm) who has been granted authority
by the Parties to determine such allocation, or, any party may elect to cause
any allocation to be determined by an Arbitrator as set out below.

4.     Fees and Expenses.

(a)                                  Except
as provided herein, the Corporate Entity Parties agree, for themselves and
their affiliates, to pay their own expenses in connection with the Litigation,
including attorneys fees and the fees and expenses of their affiliates and
agents.

(b)                                 WLT
shall be responsible for all costs and expenses associated with the Schedule A
Litigation, including the costs of depositions, testimony and discovery
enforced on MWA and its affiliates, provided, however, that MWA or its
affiliates shall bear the costs of its own personnel and internal legal counsel
and those costs of its Corporate Entity Parties.

(c)                                  MWA
shall be responsible for all costs and expenses associated with the Schedule B
Litigation, including the costs of depositions, testimony and discovery imposed
on WLT and its affiliates, provided, however, that WLT or its affiliates shall
bear the costs of its own personnel and internal legal counsel and those costs
of its Corporate Entity Parties.

(d)                                 Except
as provided on Schedule C, WLT and MWA agree to share the expenses of the
Schedule C Litigation in proportion to their Allocated Share, with each bearing
their own expenses as they are incurred, sharing other more extraordinary
expenses (such as expert witness fees), and then reconciling their expenses
incurred for their common benefit when any

 D-3
 

 

 

Litigation or Claim is
finally concluded or at such other time as agreed by the Parties.

(e)                                  Representatives
of the Parties shall regularly discuss the need for payments hereunder, or to
offset the payments incurred by the Corporate Entity Parties, it being the
intent of the parties that no payments be made if the amount to be paid is less
than $10,000, until the Parties agree on a final settlement of the amounts to
be paid under this Agreement or until the amount owed to one party hereunder
exceeds $100,000.  The Parties shall have
a telephonic or in-person discussion no less frequently that quarterly for the
first year following the execution of this Agreement, and semi-annually
thereafter, to agree on any payments to be made hereunder, to modify the terms
of this Agreement as the Parties agree, or to agree on modifications to the
schedules.

(f)                                    Any
amounts to be paid hereunder shall, to the extent not paid within 30 days after
agreement to be paid, bear interest at the Prime Rate until such amounts are
paid in full.  As used herein, “Prime
Rate” shall mean the fluctuating interest rate announced from time to time by
the Bank of America as its prime rate.

5.     Protection of Information.

(a)                                  For purposes of this Agreement, the
parties record that they have a common interest in the Litigation and the
Claims referred to herein, recognizing that they were under common control and
ownership in connection with prior actions and communications with respect to
the Litigation and Claims.

(b)                                 WLT and MWA agree to share evidence and
work product in connection with the Litigation and Claims, including with their
respective counsel, provided, however, that in the event of disagreements
regarding whether to settle any Litigation or Claims, the parties shall be free
to settle any such Litigation or Claim, provided that the work product,
evidence, privileged materials and confidential information retained by the
settling party shall not be shared with any third parties without the consent
of any Corporate Entity Party that would have the right to prevent the
disclosure of any such information had the Spin-Off not occurred.

(c)                                  Each Corporate Entity Party agrees, on
its own behalf and on behalf of its agents, advisors, and counsel, to protect
any work product, evidence, privileged materials and confidential information
related to the Litigation against disclosure as if it were their own
information and to assert the joint litigation privilege as a bar to the
production of any such information.

 D-4
 

 

 

6.     Prior Coverages
and Indemnification.

(a)                                  Prior WLT Coverage

(i)                                     With respect to Litigation or Claims or
other liabilities against MWA that are or may be, in the reasonable judgment of
MWA, covered by insurance policies held by WLT or indemnification otherwise
available to WLT on or prior to December 14, 2006 (“Prior Coverage”), MWA shall
pursue, or, to the extent possible, WLT shall be authorized to pursue, such
claims on behalf of MWA in the amounts and in accordance with the terms of such
Prior Coverage, provided that such claims and liabilities relate to matters
that arose on or prior to December 14, 2006. 
WLT agrees that it will not, and will not permit any affiliate, to
terminate any Prior Coverage without MWA’s consent.  Promptly upon receipt of the proceeds of any
such Prior Coverage, WLT shall cause such proceeds to be paid to MWA.

(ii)                                  The Corporate Entity Party pursuing the
coverage will, or will cause its affiliates to, diligently pursue all claims
for Prior Coverage at MWA’s expense, provided that in no event shall WLT be
obliged to litigate or pursue any other extraordinary remedies against any
insurer or indemnitor, except as provided in (iii) below.  WLT and MWA must consult in good faith with
respect to the pursuit of any Prior Coverage. 
Consistent with pursuing its own interests, each party shall take all
reasonable steps necessary to protect the interests of all the Corporate Entity
Parties in maintaining the availability of Prior Coverage.

(iii)                               In the event that MWA, in its sole
discretion, determines that in order to protect its rights hereunder with
respect to any claim, that it is necessary to pursue litigation or make a claim
for Prior Coverage against any insurer or indemnitor, it shall so advise WLT,
and MWA shall pursue such litigation or claim.

(b)                                 Prior U.S. Pipe Coverage

(i)                                     With respect to Litigation or Claims or
other liabilities against any former subsidiary of United States Pipe and
Foundry Company, LLC, an Alabama limited liability company (together with its
business predecessors, “U.S. Pipe”), that are or may be, in the reasonable
judgment of WLT, covered by insurance policies held by U.S. Pipe or
indemnification otherwise available to U.S. Pipe on or prior to December 14,
2006 (“Prior Coverage”), MWA shall pursue, or if authorized, permit WLT to
pursue, such claims on behalf of such former subsidiary in the amounts and in
accordance

 D-5
 

 

 

with the terms of such
Prior Coverage, provided that such claims and liabilities relate to matters
that arose on or prior to December 14, 2006. 
MWA agrees that it will not, and will not permit any affiliate,
including U.S. Pipe, to terminate any Prior Coverage without WLT’s
consent.  Promptly upon receipt of the
proceeds of any such Prior Coverage, U.S. Pipe shall cause such proceeds to be
paid to WLT.

(ii)                                  The Corporate Entity Party pursuing the
coverage will, or will or will cause its affiliates to, diligently pursue all
claims for Prior Coverage at WLT’s expense (or the expense of the relevant
former subsidiary), provided that in no event shall MWA be obliged to litigate
or pursue any other extraordinary remedies against any insurer or indemnitor,
except as provided in (iii) below.  MWA
and WLT must consult in good faith with respect to the pursuit of any Prior
Coverage.  Consistent with pursuing its
own interests, each party shall take all reasonable steps necessary to protect
the interests of all the Corporate Entity Parties in maintaining the
availability of Prior Coverage.

(iii)                               In the event that WLT, in its sole
discretion, determines that in order to protect the rights hereunder with
respect to any claim of a former U.S. Pipe subsidiary, that it is necessary to
pursue litigation or make a claim for Prior Coverage against any insurer or
indemnitor, it shall so advise MWA, and WLT shall pursue such litigation or
claim, or MWA shall, if requested by WLT, pursue such litigation or claim at
WLT’s direction (or the direction of such former relevant subsidiary), provided
that WLT and such former subsidiary shall be responsible for all out of pocket
costs and expenses associated with such litigation or claim.

(c)                                  Prior MWA Coverage

WLT shall cause to be
transferred to MWA all insurance policies in effect for MWA and its
subsidiaries prior to the WLT acquisition of MWA’s predecessor-in-interest (“Predecessor
Mueller”) and any stand-alone policies applicable to MWA and its subsidiaries.

(d)                                 First Come/First Served

The parties understand and agree that the principles
outlined in paragraphs (a) and (b) above could allow one party or the other to
exhaust the policy limits on a “first come/first served” basis.  With respect to the application of the first
come/first served principles set forth above, the Corporate Entity Parties
shall be obligated to act in good faith and to avoid taking any actions for the
purpose or with the intention of accelerating or

 D-6
 

 

 

delaying claims payments or losses in order to obtain
some advantages with respect to the exhaustion of applicable limits.  In
addition, the Corporate Entity Parties shall not enter into any written
settlement agreement with any insurer that has the effect of reducing limits
that would otherwise be potentially available under this Agreement to any party
without first giving the affected party to this Agreement at least thirty (30)
days’ advance written notice of its intention to enter into such settlement
accompanied by a copy of the proposed settlement so that the other party may
have an opportunity to consider the impact of such proposed settlement on its
interests.  The parties agree to consult
with each other and negotiate in good faith about such impacts.

7.     Pending
Settlement Agreements; Other Agreements.

WLT and MWA acknowledge and
agree that WLT is engaged in certain settlement discussions with certain
historic insurance providers as set forth on Schedule D.  The Parties agree that WLT shall continue
those discussions and enter into settlements with the insurers listed on that
schedule, and that WLT and MWA shall divide the proceeds as set forth on Schedule
D.

8.     Directors
and Officers Liability Insurance.

For the six-year period commencing immediately after
the Spin-Off Date, WLT shall maintain in effect WLT’s current directors’ and
officers’ liability insurance policies providing coverage as respects acts or
omissions occurring prior to the Spin-Off Date with respect to those Persons
who are currently covered by WLT’s directors’ and officers’ liability insurance
policy on terms and at limits no less favorable to MWA’s directors and officers
currently covered by policies in effect on the date hereof, provided, also,
that if WLT’s current directors’ and officers’ liability insurance expires, is
terminated or is canceled during such six-year period, WLT shall obtain
directors’ and officers’ liability insurance covering such acts or omissions with
respect to each such Person on terms and at limits no less favorable to MWA’s
directors and officers currently covered by policies in effect immediately
prior to the date of such expiration, termination or cancellation (the “Existing
D&O Policy”); provided, however,
that: (i)  WLT may substitute for the Existing D&O Policy a policy or
policies of comparable coverage, including a “tail” insurance policy; and
(ii) WLT shall not be required to pay annual premiums for any substitute
or “tail” policies in excess of two times the premiums paid for the Existing
D&O Policy (the “Maximum Premium”).  In the event any future annual premiums for
the Existing D&O Policy (or any substitute policies) exceed the Maximum
Premium, WLT shall be entitled to reduce the amount of coverage of the Existing
D&O Policy (or any substitute or “tail” policies) to the amount of coverage
that can be obtained for a premium equal to the Maximum Premium. This
Section is intended to benefit each of the directors and officers of MWA,
and shall be enforceable by each Indemnified Party and his or her heirs and
representatives.

 D-7
 

 

 

9.     Further
Assurances.

(a)                                  Each party
shall cooperate with each other, use commercially reasonable efforts to take or
cause to be taken all appropriate actions required of such party, and do or
cause to be done all things necessary or appropriate to effectuate the
provisions and purposes of this Agreement and the transactions contemplated
hereby, including the execution of any additional documents or instruments of
any kind, the obtaining of consents that may be reasonably necessary or
appropriate to carry out any of the provisions hereof, and the taking of all
such other actions as such party may reasonably be requested to take by the
other party from time to time consistent with the terms of this Agreement.  Each party must furnish to the other all
information and documentation as may reasonably be required in the pursuit of
any litigation or claims under this Section. 
Each party shall regularly — no less frequently than monthly or other
mutually agreed upon intervals — consult with the other with respect to such
litigation or claim, and each party shall promptly advise the other as to any
material developments.    WLT and MWA
shall take all action reasonably required to ensure that MWA, on the one hand,
and any former subsidiary of U.S. Pipe, on the other, shall have access to the
Prior Coverages following any merger or liquidation of WLT or U.S. Pipe.

(b)                                 By way of
enumeration and not of limitation:  (i)  each party shall be
obligated to provide copies of insurance policies or evidence of the existence
of insurance to the other; (ii)  each party shall be obligated to provide
the other with information reasonably necessary or helpful to either party
(including, without limitation, currently valued loss runs on an annual basis
for all lines of insurance for five calendar years after the Spin-Off Date) in
connection with its efforts to obtain insurance coverage pursuant to and in
accordance with the terms of this Agreement or to purchase other insurance
policies; (iii)  each party shall be obligated to provide information to
the other about amounts applied to the limits of policies or self-insured
retentions potentially applicable to both, and the basis for the application of
such amounts to such limits, so that each company can monitor the exhaustion of
such limits; and (iv)  each party shall execute further assignments or
allow the other to pursue claims in its name (subject to appropriate disclosure
of the fact that it is doing so and the reasons why it is doing so), including
by means of arbitration or litigation, to the extent necessary or helpful to
the other party’s efforts to obtain insurance coverage to which it is entitled
under this Agreement.

(c)                                  Each party
shall be obligated to reimburse each other for out-of-pocket costs and expenses
reasonably incurred in connection with providing cooperation and assistance to
the other pursuant to this Agreement in accordance with Section 4 of this
Agreement.

 D-8
 

 

 

10.   Arbitration.

(a)                                  Commencement. 
In the event of any dispute or difference hereunder or in connection
with the subject matter of this Agreement or by any person claiming rights
under this Agreement, the party or person claiming a dispute or rights shall
notify the other relevant parties of the dispute or difference, giving the
details of such dispute or difference, and notifying the other parties that it
desires such dispute or difference to be settled by mediation or arbitration,
as the case may be.  In the event the parties
are unable to reach a mutually acceptable resolution of the matter within
thirty (30) days of the notice of dispute, either party may submit the dispute
to binding arbitration as set forth below.

(b)                                 Rules of Arbitration.  If the dispute or difference has been
referred to arbitration as provided above, then any party may elect to cause
such dispute or difference to be finally settled by a single arbitrator (the “Arbitrator”).  The party electing arbitration (the “Initiating
Party”) shall so notify the other party or parties (the “Responding Party”) in
writing, and such notice shall be accompanied by the name of the representative
selected by the Initiating Party.  A
second representative shall be chosen by the Responding Party or Parties.  Each representative shall have legal or
appropriate financial experience.  If the
Responding Party does not select a representative or advise the Initiating
Party of their selection within thirty (30) days after receipt by the Responding
Parties of the notice of intent to arbitrate, the second representative shall
be chosen by the American Arbitration Association in Washington, DC.  The first and second representatives shall
then jointly agree on the Arbitrator.  If
they have not selected the Arbitrator within thirty (30) days after the
selection of the second representative, the American Arbitration Association in
Washington, DC shall select the Arbitrator. 
The Arbitrator shall also have legal or financial experience.

(c)                                  Arbitration Procedure.  The place and situs of arbitration shall be
Washington, DC.   The Arbitrator shall
determine the rules of the arbitration, bearing in mind the need for speed and
cost effectiveness.  The Arbitrator may
adopt the rules and procedures for commercial arbitration of the American Arbitration
Association, but there shall be no compelled discovery or disclosure from
either party prior to the hearing except as specifically ordered by the
Arbitrator for good cause shown.  The
parties agree to facilitate the arbitration by (i) making available to each
other and to the Arbitrator for inspection and extraction all documents, books
and records as the Arbitrator shall determine to be relevant to the dispute,
(ii) making personnel under their control available to other parties and the
Arbitrator and (iii) observing strictly the time periods established by the
Arbitrator for the submission of evidence and pleadings.  The Arbitrator 

 D-9
 

 

 

shall have the power to render declaratory judgments
in accordance with the American Arbitration Association Rules for Injunctive
Relief, as well as to award monetary claims or to render claims that the
Arbitrator deems equitable and just, provided that the Arbitrator shall not
have the power to act (x) outside the prescribed scope of this Agreement, or
(y) without providing an opportunity to each Party to be represented before the
Arbitrator.  The Arbitrator shall
endeavor to render final decisions in writing within sixty (60) days of the
selection of the Arbitrator.

(d)                                 Arbitration Award; Enforcement.  The Arbitrator’s award shall be in
writing.  The Arbitrator may allocate the
costs and expenses of the proceedings between the parties and shall award
interest as the Arbitrator deems appropriate. 
The arbitration judgment shall be final and binding on the parties.  Judgment on the Arbitrator’s award may be
entered in any court having jurisdiction.

11.   Immunities.

This Agreement may
not be introduced in any court to establish any fact of this Agreement except
to permit any Corporate Entity Party hereto to secure its rights under this
Agreement.  The terms of this Agreement
have been reached as a settlement between the Corporate Entity Parties and its
terms are without prejudice to the ability of any Corporate Entity Party hereto
to assert claims against any third party, or defend itself against claims
asserted it by any third party.

12.   Authority.

Each
Corporate Entity Party represents and warrants that it has the right, power and
authority to enter into this Joint Litigation Agreement, and to cause its
affiliates, agents and counsel to abide by this Agreement to the extent
necessary to enforce the terms hereof as fully as if they were signatories to
this Agreement.

13.   Amendments.

This
Agreement shall be binding on the successors and assigns of the parties
hereto.  This Agreement shall not be
changed, modified, or amended except by a writing signed by the Corporate
Entity Party to be charged, and this Agreement may not be discharged except by
performance in accordance with its terms or by a writing signed by the party to
be charged.  This Agreement may be
amended by the mutual written agreement of WLT and MWA only, and all parties
who derive rights under this Agreement shall be bound by such amendment.

14.   Third Party Rights.

This
Agreement shall not confer any rights or benefit upon any person or entity
other than the parties hereto and their respective successors and permitted
assigns.

 D-10
 

 

 

15.   Legal Enforceability.

Any
provision of this Agreement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction only, be ineffective to the extent
of such prohibition or unenforceability without invalidating the remaining
provisions hereof.  Any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

16.   Governing Law.

This
Agreement shall be governed by, and construed in accordance with, the laws of
the State of Delaware without giving effect to the conflict of laws principles
thereof. The parties hereto hereby waive personal service of any and all
process upon it and consent that all such service of process may be made by
registered or certified mail (return receipt requested) directed to such party
at its address set forth on the signature pages below, and service so made
shall be deemed to be completed three (3) days after the same shall have been
so deposited in the U.S. Mails, or on one day following delivery by email or by
telecopy as provided below, with evidence of delivery, provided that any
delivery by email or telecopy shall be followed by a telephone call alerting
the recipient to the notice being so delivered.

IN
WITNESS WHEREOF, each of the parties hereto has executed this
Agreement as of the day and year first above written.

	
  WALTER INDUSTRIES, INC. 

  	
   

  	
  MUELLER WATER PRODUCTS, INC. 

  
	
   

  	
   

  	
   

  
	
  Signature: 

  	
  /s/ Victor P.
  Patrick

  	
   

  	
   

  	
  Signature: 

  	
  /s/ Robert Barker

  	
   

  
	
  Name: Victor P.
  Patrick

  	
   

  	
  Name: Robert Barker

  
	
  Title: Vice
  Chairman

  	
   

  	
  Title: Executive Vice President

  
	
  Address: 

  	
  2211 W. Boy
  Scout Boulevard

  	
   

  	
  Address:

  	
  1200 Abernathy Road 

  
	
   

  	
  Tampa, FL 33607

  	
   

  	
   

  	
  Atlanta, GA 30328

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Telephone:
  813-871-4811

  	
   

  	
  Telephone: 770-206-4200

  
	
  Telecopy:
  813-871-4491

  	
   

  	
  Telecopy: 770-206-4235

  
	
  Email:
  vpatrick@walterind.com

  	
   

  	
  Email: rbarker@walterind.com

  
								

 

 

 D-11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]