Document:

Exhibit 10.1

English Translation

 

of

 

Termination Letter

 

Party A: Beijing Shenzhou Rongtong Investment
Management Co., Ltd 

Party B: American Arki Network Service Beijing
Co., Ltd

 

Whereas:

 

Party A is an operating entity in China. Party
B is a VIE of Consumer Capital Group Inc. (“Consumer Capital”). The parties entered into an Equity Transfer Agreement
(the “Agreement”) on November 17, 2017. According to the Agreement, Party B acquired 100% of the issued and outstanding
equity securities of Party A from its shareholders (the “Shareholders”). Party B also issued to the Shareholders an
aggregate of 4,175,417 shares of common stock of Consumer Capital (the “Common Stock”). Specifically, Zheng Xiao received
1,461,387 shares of Common Stock; Ruisong XU received 1,252,643 shares of Common Stock; and Lijun Xiao received 1,461,387 shares
of Common Stock.

 

As of March 29, 2018, both parties mutually
agreed to terminate the Agreement dated November 17, 2017, and reached the following agreements:

 

Before the Equity Transfer Agreement, the
Shareholders owned 100% of the issued and outstanding equity securities of Party A. Particularly, Zheng Xiao owned 35%, Lijun
Xiao owned 35%, and Ruisong Xu owned 30%. The Shareholders transferred all the shares to Party B. Through voluntary and friendly
negotiation, the Shareholders agree to return the aggregate of 4,175,417 shares of Common Stock to Consumer Capital. And Party
B agrees to return the shares of Party A to the Shareholders.

 

 

Party A: Beijing Shenzhou Rongtong Investment
Management Co., Ltd

 

Ruisong XU  _/s/ Ruisong XU __________________

 

Lijun XIAO  _/s/ Lijun XIAO ___________________

 

Zhen XIAO  _/s/ Zhen XIAO ___________________

 

 

 

Party B: American Arki Network Service
Beijing Co., Ltd

Legal Representative: /s/ Jianmin Gao

 

Date: March 29, 2018Exhibit

Exhibit 10.1

March 28, 2018

Richard B. Vilsoet 

Dear Rick:
In recognition of the value of your services and in order to induce you to remain in its employ as the General Counsel through May 2019, Dycom Industries, Inc. (the “Company”) has decided to enter into this agreement (this “Agreement”) to amend the terms of your outstanding equity awards set forth on Exhibit A hereto as follows:
If your employment with the Company is terminated due to your retirement on or following the date of the Company’s 2019 Annual Meeting of Shareholders, your outstanding equity awards will be treated as follows: 
		
	•
	Time vesting restricted stock or restricted stock unit awards will continue to vest for the three-year period following the termination of employment date (or if the remaining vesting term of any such time vesting restricted stock or restricted stock unit award is less than three years, each such award will continue to vest for the remaining period of such vesting term); and

		
	•
	Subject to meeting the required performance conditions, performance vesting restricted stock or restricted stock unit awards will continue to vest for the two-year period following the termination of employment date (or if the remaining vesting term of any such performance vesting restricted stock or restricted stock unit award is less than two years, each such award will continue to vest for the remaining period of such vesting term).

In addition to amending your current outstanding equity awards, including the equity awards granted to you on March 26, 2018, this Agreement provides that any future equity awards granted to you will be subject to the terms set forth above.

Sincerely,
DYCOM INDUSTRIES, INC.
	
				
	By:
	 
	/s/ Steven E. Nielsen
	 

	 
	 
	Steven E. Nielsen
	 

	 
	 
	President and Chief Executive Officer
	 

1Director Compensation Summary

	Exhibit 10(i)

	 

	 

	1st FRANKLIN FINANCIAL CORPORATION

	Director Compensation Summary Term Sheet

	 

	Compensation to be paid to the following directors, whether or not executive officers of the Company, will be as follows: 

	 

	Name of Director

	Compensation

	 

	 

	Ben F. Cheek,. III  (Vice Chairman)

	$-  * 

	Ben F. Cheek, IV  (Chairman)

	$35,000 

	A. Roger Guimond

	$35,000 

	James H. Harris, III

	$35,000 

	John G. Sample, Jr. (Audit Committee Chairman)

	$40,000 

	C. Dean Scarborough

	$35,000 

	Keith D. Watson

	$35,000 

	 

	 

	* Note:  Ben F, Cheek, III elected not to receive any Director fees.Executive Bonus Plan

	Exhibit 10(j)

	 

	1st Franklin Financial Corporation

	Executive Bonus Plan: 2018

 

	Plan Overview:

	 

	As we analyze the results from 2017, and review the budget set for 2018 and weigh in the economic forecast for the year, we recognize the need today, more than ever, to balance short-term results – growth and profit, with long-term positioning – new product development and improved systems. This balance is expected to provide the foundation that remains critical for the future success of the Company.

	 

	The short term bonus goals that are set for the Company each year, which are reflected in this Executive Bonus Plan, are the milestones which will drive the overall performance to achieve the long range goals and plans.

	 

	The Executive Bonus Plan for 2018 will focus first on meeting a minimum income requirement threshold, and thereafter meeting five strategic goals. The combination of these goals is expected to provide a balanced measurement of 1st Franklin’s performance and will also support the achievement of our long term goals.

	 

	DISCLAIMERS:

 

“The Company must be in compliance with all credit line debt covenants prior to the disbursement of any bonus.”

 

Right to Alter Program

 

The Company reserves the right, at any time, or from time to time during the year, with or without notice, to continue or discontinue this program, or to alter it as necessary in the best interest of the Company.

 

	The goals that are set were identified and agreed upon by the Executive Management Team. Below are the five strategic goals, as well as the minimum income requirement for the 2018 bonus to be paid.

 

THRESHOLD: The Company must achieve minimum pre-tax income based on the average pre-tax income for the three years ended December 31, 2017 plus the projected accrued incentive bonus for December 31, 2018 divided by 2. The minimum pre-tax income threshold for 2018 is $13,135,550.

 

	STRATEGIC GOALS:

	 

	 

	1.

	Corporate Net Receivables Growth – a target of 4.25% annual growth;

	2.

	Corporate Delinquency Control – 30 days or more delinquency (including bankrupt accounts) not to exceed 9.00% of receivables;

	3.

	Corporate Expenses to Revenue – less than or equal to 92.50%;

	4.

	Corporate Return on Assets (ROA) – greater than or equal to 3.00%;

	5.

	Corporate Pre-tax Income (separate from the threshold goal) - $17.5 million.

	PROGRAM ELIGIBILITY:

	 

	Company: The threshold pre-tax income goal must be achieved for the Executive Bonus Plan to be activated. Once this requirement is achieved, the bonus will be paid based on the achievement of the strategic goals, and will be paid according to the following scale on an individual basis as a percentage of the participant’s annual salary. However, the total bonus amount paid cannot exceed 50% of income before income taxes. If the preliminary total bonus calculation exceeds 50% of income before income taxes, the amount of bonuses paid will be reduced accordingly to meet the 50% limit.

 

	No. of Strategic Goals Met

	% Bonus Paid Based on Annual Salary

	 

	(in increments of 5 percentage points)

	1

	Up to 30% (0% - 30%)

	2

	Up to 40% (0% - 40%)

	3

	Up to 50% (0% - 50%)

	4

	Up to 60% (0% - 60%)

	5

	Up to 65% (0% - 65%)

 

	The percentage range is based on many factors, including but not limited to: achieving budget projections, achieving monthly / quarterly objectives, training (both individually and for the respective participant’s employees), performance management review (“PMR”) ratings and achievement of PMR goals, employee retention, managing human resource issues, audit and compliance guidelines, etc.

	 

	Example: if the Company achieves the threshold, which will then activate the bonus plan, and any two strategic goals, the range of bonus paid will be from 0% to 40% of participants’ annual salary depending on their performance.

	 

	INDIVIDUAL EXCEPTIONS:

 

If 1st Franklin fails to achieve the minimum requirement of pre-tax income – the Executive Bonus Plan, which is an incentive bonus plan based on performance, will not be paid. However, the Executive Compensation Committee (which consists of; Ben F. Cheek, III, Vice-Chairman; Ben F. Cheek, IV, Chairman; Ginger Herring, President and CEO; Roger Guimond, EVP/Chief Operating Officer; Kay O'Shields, EVP/Strategic and Organizational Development; Mike Haynie, EVP/Human Resources; Dan Clevenger, II, EVP/Compliance; Charles E. Vercelli, Jr. EVP/General Counsel; Nancy Sherr, EVP/Chief Marketing Officer and Alan Shaw, EVP/Chief Information Officer) may chose to award individual bonuses to a select number of executives. These exceptions will only be made if those said individuals have achieved an outstanding year by ALL standards. In such a case, a bonus may be awarded but may be based on a lower scale than the above plan.

	Executive Compensation Committee Review

	 

	The Executive Compensation Committee will review all executive, performance ratings and bonus recommendations and determine the final bonus awarded.

 

	AREA

	RECOMMENDATION

	COMMITTEE MEMBERS

	Home Office Supervisors, Home Office Vice Presidents

	Direct Report

	Ginger Herring, Ben F. Cheek, III, Roger Guimond, Mike Haynie, Kay O'Shields, Dan Clevenger, Chip Vercelli, Nancy Sherr and Alan Shaw

	Executive Vice Presidents, General Counsel

	Ginger Herring

	Ginger Herring, Ben F. Cheek, III, Ben. F. Cheek, IVlens-ex1026_798.htm

 

Exhibit 10.26

 

Magda Michna

2411 N Hall St, Unit 32

Dallas, TX, 75204 Dear Magda:

 

I am very pleased to set forth the following terms and conditions of your continued employment and compensation with Presbia PLC (“Presbia”) effective January 1, 2018. Please confirm your acceptance of these terms by countersigning this letter below and returning it to me by January 8, 2018.

 

1.Position. You will continue to be Vice President of Clinical Affairs of Presbia.

 

2.Annual Base Salary/ Bonus/Equity. Your annual base salary will be $330,000. Your target annual cash bonus for 2018 and thereafter will be $100,000.

 

3.Equity Awards. You were previously awarded 50,000 restricted share units (“RSUs”) under the Presbia PLC Incentive Plan (the “Plan”) on March 14, 2017 (the “2017 Award”). The 2017 Award will be replaced by an award of 70,000 RSUs (the “Replacement Award”).  Vesting of  the Replacement Award is contingent upon premarket approval of Presbia Flexivue Microlens by the U.S. Food and Drug Administration. You will also be awarded 140,000 additional RSUs under the Plan (the “New Award” and together with the Replacement Award, the “Awards”), 50% of which will vest on December 31, 2020 and 50% of which will vest on December 31, 2022. Except as set forth in paragraph 4 below, all RSUs under the Awards will be subject to forfeiture if you incur a “Termination of Employment” (as defined by the Plan) prior to the applicable vesting event/date. All RSUs will become vested in the event that a “Change of Control” of Presbia (as defined by the Plan) occurs, provided that you have not previously incurred a Termination of Employment. Complete terms of the Awards will be set forth in Restricted Share Unit Grants Agreements which will be provided shortly.

 

4.Severance. In the event that your employment with Presbia is involuntarily terminated without “Cause” (as defined below), subject to your execution of Presbia’s standard form of separation and release agreement (i) you will continue to be paid, as severance, your then annual rate base salary for a period of three months (the “Severance Period”), (ii) the Replacement Award will become fully vested, and (iii) subject to your timely election of, and continued eligibility for, continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) under the Company’s group health plan which covers you as of your date of termination, the Company will waive (or reimburse you on a monthly basis for) the cost of such COBRA coverage until the earlier of (x) the date that COBRA coverage terminates (but for not longer than the expiration of the Severance Period), or

(y) the date that you are covered under another group health plan; provided, however, that the Company will not waive (or reimburse) any cost of COBRA for a month in excess of what the 

1

 

 

Company  at  such  time  pays  toward  the  cost  of  your  health  coverage).  “Cause”  means  (i) conviction of, or the entry of a plea of guilty or no contest to, a felony or any other crime that causes Presbia or any of its subsidiaries (collectively, the “Presbia Group”) public disgrace or disrepute, or adversely affects the Presbia Group’s operations or financial performance or the relationship the Presbia Group has with its customers or vendors, (ii) gross negligence or willful misconduct with respect to the Presbia Group, including, without limitation fraud, embezzlement, theft or dishonesty; (iii) refusal to perform any lawful, material obligation or fulfill any duty to the Presbia Group (other than due to a disability), which refusal, if curable, is not cured within 10 days after delivery of written notice thereof; (iv) material breach of any agreement with or duty owed to the Presbia Group or breach of Presbia policy, which breach, if curable, is not cured within 10 days after the delivery of written notice thereof; or (v) any breach of any obligation or duty to the Presbia Group (whether arising by statute, common law or agreement) relating to confidentiality, nonsolicitation or proprietary rights.

 

5.At-Will Employment. Nothing contained in this letter agreement is to be construed as a right to continue in the employment of Presbia, and you and Presbia each reserve the right to terminate your employment at any time and for any reason. Accordingly, your employment remains “at- will”.

 

6.Tax Withholding. All payments to you hereunder shall be subject to such tax withholding obligations as may be required by law. This letter is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) or an exemption thereunder and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A.

 

7.Governing Law. This letter agreement is governed by, and is to be construed and enforced in accordance with, the laws of the State of California, without regard to principles of conflicts of laws.

 

8.Entire Agreement. This letter represents the entire agreement between you and Presbia with respect to the subject matter hereof and supersedes all prior written or oral understandings relating to these matters; provided, however, that the Presbia Employee Confidentiality Agreement that you previously executed on December 20, 2016 shall remain in full force and effect.

 

By countersigning and returning this letter agreement to me by January 8, 2018, you will have accepted and agreed to the terms and conditions set forth herein. This letter will be deemed withdrawn if you do not return it to me by that date.

 

	
	
Regards,

	
 

	
/s/ Mark Yung

	
Mark Yung

	
 

	
AGREED AND ACCEPTED:

	
 

	
/s/ Magda Michna

	
Name: Magda Michna Date: January 8, 2018

 

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}]]