Document:

Exhibit 10.2

 

 

April 18, 2012

 

Robert Mayson

c/o RealD Inc.

100 N. Crescent Dr., Suite 200

Beverly Hills, CA 90210

 

Re: Secondment To RealD Europe Limited

 

 

Dear Bob:

 

I write to confirm the revised terms and conditions of your employment with RealD Inc. (“the Company”) to cover your secondment to RealD Europe Limited (“the Host Company”).  Your existing terms and conditions of employment with the Company dated May 25, 2010  (as amended on April 18, 2012) (the “US Terms and Conditions”) will continue to apply unless expressly superseded by the contents of this letter (“the Secondment Letter”).

 

At the end of your secondment, this Secondment Letter will cease to have effect and you will revert to the US Terms and Conditions.

 

1.                                    SECONDMENT

 

1.1                               You will serve as Managing Director, RealD Europe and EVP Cinema EMEA with the Host Company.  This secondment will commence as of the date hereof, or as soon as is reasonably practicable thereafter, and is anticipated to last until (x) March 30, 2013 if the US Terms and Conditions expire on March 31, 2013, (y) March 30, 2014 if the US Terms and Conditions expire on March 31, 2014 or (z) March 30, 2015 if the US Terms and Conditions expire on March 31, 2015.  However, the Company may, at its discretion, terminate this secondment before the expiry of that period in accordance with the provisions of the US Terms and Conditions.

 

1.2                               During the period of this secondment, you will remain employed by the Company, but your services will be temporarily seconded to the Host Company.  You will be based at the offices of the Host Company at Hemel Hempstead.

 

2.                                    REMUNERATION

 

2.1                               You will continue to receive your remuneration and benefits from the Company, in accordance with the US Terms and Conditions, except as otherwise stated below:

 

(a)                                  Your salary will be $400,000 per annum, payable in accordance with the Company’s standard payroll procedures AND less all applicable withholdings and deductions.  For the avoidance of doubt, this salary is inclusive of any fees to which you may be entitled to as a director of RealD Europe Limited.

 

(b)                                 You will not be eligible to receive Company-sponsored benefits, including but not limited to group health benefits, 401(k) retirement benefits and PTO.  You will

 

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instead be eligible for the following in accordance with the rules and procedures of the Host Company:

 

(i)                                   25 days’ paid holiday, in addition to all Bank and Public holidays normally observed in England, to be taken at such times as are agreed with the Board of directors of the Host Company;

 

(ii)                                Statutory sick pay (“SSP”), if you are eligible to receive it under the legislation and regulations from time to time in force; and

 

(iii)                             Participation in the Host Company’s Group Personal Pension Scheme, details of which can be obtained from Lori Pettlon.  There is no pension contracting-out certificate in force in relation to your employment.

 

2.2                                 For the avoidance of any doubt, you will continue to be eligible to receive a bonus in accordance with the US Terms and Conditions, but you will not be eligible for any bonus or other incentive programs offered by the Host Company.

 

2.3                                 The Host Company will be responsible for reimbursing to you all business expenses reasonably and properly incurred on Host Company business.  You should follow the applicable procedure of the Host Company for the reimbursement of such expenses.

 

2.4                                 The Company or the Host Company, as applicable, shall have the right to withhold and deduct from any payment hereunder any foreign, federal, state or local taxes of any kind required by law to be withheld with respect to any payment to you.

 

3.                                      RELOCATION EXPENSES

 

3.1                                 The Company will reimburse you for actual, reasonable relocation expenses incurred in your relocation from the United States to the United Kingdom for the purposes of this Secondment, to a maximum of $35,000 gross (the “Relocation Expenses”), always in accordance with the Company’s reimbursement policies then in effect and subject to:

 

(a)                                  the Relocation Expenses being incurred after the Commencement Date and before May 30, 2012; and

 

(b)                                 you submitting a request for reimbursement with appropriate documentation and receipts by June 15, 2012 (the “Reimbursement Request”).

 

3.2                                 Subject to compliance with Clauses 3.1(a) - (b) above, the Relocation Expenses will be paid to you within 60 days of receipt of the Reimbursement Request, less any applicable deductions.

 

4.                                      WORK PERMITS

 

It is a condition of your acceptance of this secondment that you are eligible to work in the United Kingdom.  The Company may require you to provide proof of your eligibility to work in the United Kingdom, and reserves the right to immediately terminate this secondment if, for any reason, you are no longer entitled to reside or work in the United Kingdom.

 

5.                                      CONFIDENTIALITY, INTELLECTUAL PROPERTY AND POST-TERMINATION OBLIGATIONS

 

The RealD Employee Invention Assignment and Confidentiality Agreement which you signed on May 25, 2010, and Clauses 12 (Confidentiality), 13 (Intellectual Property, Inventions and Patents) and 14 (Post-Termination Obligations) and Schedule 2 of your contract of employment with RealD Europe Limited dated November 2008 shall continue to

 

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apply for the duration of the Secondment, save that references to the “Employment” in Clauses 12 and 13 and in Schedule 2 shall be deemed to mean your employment with RealD Inc. under the US Terms and Conditions.

 

6.                                      HOST COMPANY’S RULES AND PROCEDURES

 

During the period of your secondment, you will comply with the rules, procedures, working practices and policies of the Host Company.  You will be subject to the day to day management and control of the Host Company, from whom you will take instructions.  You will report to the Company’s President, Worldwide Cinema, or such other person as shall be notified to you.

 

7.                                      GRIEVANCE PROCEDURE

 

If you have any grievance relating to your secondment you should raise this in the first instance with the Board of Directors of the Host Company, which will deal with the matter by discussion and majority decision of those present and voting (you will not be entitled to vote on that issue).

 

8.                                      RETURN OF PROPERTY

 

On termination of this secondment, you shall forthwith return to the Host Company in accordance with its instructions all equipment, correspondence, records, specifications, software, models, notes, reports and other documents and any copies thereof and any other property belonging to the Host Company (including, but not limited to, keys, credit cards, equipment and passes) which are in your possession or under your control.

 

9.                                      GOVERNING LAW

 

9.1                                 The construction, validity and performance of this letter and all non-contractual obligations (if any) arising from or connected with this letter shall be governed by the laws of England.

 

9.2                                 Each party irrevocably agrees to submit to the exclusive jurisdiction of the courts of England over any claim or matter (including any non-contractual claim) arising under or in connection with this letter.

 

Would you please confirm your agreement to the terms of this secondment by signing and dating the duplicate copy of this letter, in the space provided.

 

Yours sincerely

 

 

	
/s/ Michael   V. Lewis
    	
 
    
	
Michael   V. Lewis
    	
 
    
	
For and   on behalf of RealD Inc.
    	
 
    

 

 

I agree to the terms and conditions of my secondment to RealD Europe Limited in accordance with this Secondment Letter.

 

 

	
/s/   Robert Mayson
    	
 
    
	
Robert   Mayson
    	
 
    

 

3EXHIBIT 4.1

 

 

SUPPLEMENTAL INDENTURE

 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of April 17, 2012, among KEMET Blue Powder Corporation, a Delaware corporation (the “Guaranteeing Subsidiary”), KEMET Corporation, a Delaware corporation (the “Issuer”), the other Guarantors (as defined in the Indenture referred to herein) and Wilmington Trust Company, as trustee under the Indenture referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of May 5, 2010 providing for the issuance of 101⁄2% Senior Notes due 2018 (the “Notes”);

 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Note Guarantee”); and

 

WHEREAS, pursuant to Section 9.1 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

1.             CAPITALIZED TERMS.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 

2.             AGREEMENT TO GUARANTEE.  The Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Note Guarantee and in the Indenture including but not limited to Article 12 thereof.

 

3.             NO RECOURSE AGAINST OTHERS.  No director, officer, employee, incorporator, stockholder or unitholder of the Issuer or any Guarantor, as such, will have any liability for any obligations of the Issuer or the Guarantors under the Notes, the Indenture, the Note Guarantees, this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation.  Each Holder of Notes by accepting a Note waives and releases all such liability.  The waiver and release are part of the consideration for issuance of the Notes.  The waiver may not be effective to waive liabilities under the federal securities laws.

 

4.             NEW YORK LAW TO GOVERN.  THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

 

5.             COUNTERPARTS.  The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.

 

6.             EFFECT OF HEADINGS.  The Section headings herein are for convenience only and shall not affect the construction hereof.

 

7.             THE TRUSTEE.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and the Issuer.

 

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IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written.

 

Dated:  April 17, 2012

 

	
 
    	
KEMET   BLUE POWDER CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Conrado Hinojosa
    
	
 
    	
 
    	
Name: 
    	
Conrado   Hinojosa
    
	
 
    	
 
    	
Title: 
    	
President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
KEMET   CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael W. Boone
    
	
 
    	
 
    	
Name: 
    	
Michael   W. Boone
    
	
 
    	
 
    	
Title:
    	
Vice   President and Treasurer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
KEMET   ELECTRONICS CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Michael W. Boone
    
	
 
    	
 
    	
Name: 
    	
Michael   W. Boone
    
	
 
    	
 
    	
Title:
    	
Vice   President and Treasurer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
KEMET   FOIL MANUFACTURING, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Steve Lane
    
	
 
    	
 
    	
Name:
    	
Steve   Lane
    
	
 
    	
 
    	
Title:
    	
Manager
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
KEMET   SERVICES CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Conrado Hinojosa
    
	
 
    	
 
    	
Name: 
    	
Conrado   Hinojosa
    
	
 
    	
 
    	
Title:
    	
President
    
	
 
    	
 
    	
 
    	
 
    
	
Signature Page to   Supplemental Indenture
    

 

 

	
 
    	
KRC   TRADE CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Michael W. Boone
    
	
 
    	
 
    	
Name: 
    	
Michael   W. Boone
    
	
 
    	
 
    	
Title:
    	
Vice   President and Treasurer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
THE   FOREST ELECTRIC COMPANY
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Michael W. Boone
    
	
 
    	
 
    	
Name: 
    	
Michael   W. Boone
    
	
 
    	
 
    	
Title:
    	
Secretary
    
	
 
    	
 
    	
 
    
	
Signature Page to   Supplemental Indenture
    

 

 

	
 
    	
WILMINGTON   TRUST COMPANY, as Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Michael G. Oller, Jr.
    
	
 
    	
 
    	
Name:
    	
Michael   G. Oller, Jr.
    
	
 
    	
 
    	
Title:
    	
Assistant   Vice President
    

 

Signature Page to Supplemental Indenture

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