Document:

EX-10.2

 Exhibit 10.2 

CLASS B COMMON STOCK ISSUANCE AGREEMENT 

THIS CLASS B COMMON STOCK ISSUANCE AGREEMENT (the “Agreement”) is made as of April 22, 2014, by and among Hub Group, Inc., a
Delaware corporation (the “Company”), and the Laura C. Yeager 1994 GST Trust, the Matthew D. Yeager 1994 GST Trust, the Phillip D. Yeager 1994 GST Trust, Mark A. Yeager, the Alexander B. Yeager 1994 GST Trust, the Samantha N. Yeager
1994 GST Trust, the DPY 2011 Exempt Children’s Trust, the Mark A. Yeager Nonexempt Trust Created Under the Phillip C. Yeager 1994 Trust, the Alexander B. Yeager 1994 GST Trust, the Mark A. Yeager Perpetual Trust and the David P. Yeager
Nonexempt Trust Created Under the Phillip C. Yeager 1994 Trust (each, a “Stockholder” and collectively, the “Stockholders”). 

W I T N E S S E T H: 

WHEREAS, the Certificate of Incorporation of the Company authorizes the Company to issue 662,300 shares of the Class B Common Stock, $0.01 par
value per share (the “Class B Stock”), of the Company; 
 WHEREAS, the Company has issued and outstanding 662,296 shares of
Class B Stock of the Company; 
 WHEREAS, the Stockholders constitute all of the holders of all of the issued and outstanding Class B Stock
of the Company; 
 WHEREAS, the Company and the Stockholders wish to record, among other matters, their understanding regarding the issuance
of the remaining shares of Class B Stock that are neither issued nor outstanding (the “Remaining Class B Stock”). 
 NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, the parties agree as follows: 

ARTICLE I 
 DEFINITIONS 

Section 1.1    Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms
shall have the following meanings for the purposes of this Agreement: 
 “Agreement” shall have the meaning ascribed
thereto in the preamble. 
 “Class B Stock” shall have the meaning ascribed thereto in the recitals, together with any
shares of Class B Stock that subsequently may be issued or issuable with respect to the Class B Stock as a result of a stock split or dividend or any sale, transfer, assignment or other transaction involving the Class B Stock by the Company. 

“Company” shall have the meaning ascribed thereto in the recitals. 

“Person” shall mean any individual, corporation, proprietorship, firm, partnership, limited partnership, trust, association
or other entity. 

  
 1 

 “Remaining Class B Stock” shall have the meaning ascribed thereto in the
recitals. 
 “Stockholder” or “Stockholders” shall have the meanings ascribed thereto in the preamble,
together with any Person who becomes subject to the Amended and Restated Stockholders’ Agreement, dated as of the date hereof, by and among the Laura C. Yeager 1994 GST Trust, the Matthew D. Yeager 1994 GST Trust, the Phillip D. Yeager 1994 GST
Trust, Mark A. Yeager, the Alexander B. Yeager 1994 GST Trust, the Samantha N. Yeager 1994 GST Trust, the DPY 2011 Exempt Children’s Trust, the Mark A. Yeager Nonexempt Trust Created Under the Phillip C. Yeager 1994 Trust, the Alexander B.
Yeager 1994 GST Trust, the Mark A. Yeager Perpetual Trust and the David P. Yeager Nonexempt Trust Created Under the Phillip C. Yeager 1994 Trust. 

ARTICLE II 
 RESTRICTIONS ON
ISSUANCE 
 Section 2.1    No Issuance of Class B Stock Except in Compliance with this Agreement. The
Company shall not issue any of the Remaining Class B Stock without the prior written consent of each of the Stockholders. 
 ARTICLE III 

MISCELLANEOUS 

Section 3.1    Notices. Any notice, request, instruction or other document to be given hereunder by a party
hereto shall be in writing and shall be deemed to have been given, (a) when received if delivered in person or by courier or a courier service, (b) on the date of transmission if sent by facsimile or other wire transmission, or
(c) three days after being deposited in the U.S. mail, certified or registered mail, postage prepaid, in each case addressed as set forth on the signature pages hereto or to such other address as a party hereto may designate for itself by
notice given as herein provided. Whenever this Agreement requires notice to be given, or requires an action to be taken, as of a certain date, such notice or action shall be deemed to have been timely given or taken if such notice is given or such
action is taken prior to the date called for by the other provisions of this Agreement. 

Section 3.2    Binding Effect. This Agreement shall be binding upon and inure to the benefit of each of the
parties hereto and their respective heirs, legal representatives, executors, successors and permitted assigns. 

Section 3.3    Captions. The captions in this Agreement are for convenience of reference only and shall not be
deemed to alter or affect any provision hereof or interpretation hereof. 
 Section 3.4    Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

Section 3.5    Applicable Law. This Agreement shall be governed by and construed in accordance with the
internal laws of the State of Delaware without giving effect to the principles of conflicts of law thereof. 

  
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 Section 3.6    Assignment. Neither this Agreement nor any right
or obligation hereunder is assignable in whole or in part, whether by operation of law or otherwise, by any party hereto except with the prior written consent of each of the other parties. 

Section 3.7    Waivers. The failure of any party hereto at any time or times to require performance of any
provision hereof will in no way affect its right at a later time to require the performance of that provision. No waiver by any party of any condition or of any breach of any term or condition contained in this Agreement will be effective unless in
writing. No waiver in any one or more instances will be deemed to be a further or continuing waiver of any condition or breach in any other instance or waiver of any other condition or breach. 

Section 3.8    Specific Performance. The parties acknowledge that monetary damages will be insufficient for a
breach of many of the provisions of this Agreement. Therefore, each party agrees that, upon a breach of any provision of this Agreement, the nondefaulting party(ies) may sue for and obtain an injunction or specific performance of such provision in
any appropriate court. 
 Section 3.9    Entire Understanding. This Agreement sets forth the entire
agreement and understanding of the parties hereto and supersedes any and all prior agreements, arrangements and understandings among the parties regarding the subject matter hereof. 

Section 3.10    Severability. If any provision of this Agreement shall be held invalid, illegal or
unenforceable, the validity, legality or enforceability of the other provisions hereof shall not be affected thereby, and there shall be deemed substituted for the provision at issue a valid, legal and enforceable provision as similar as possible to
the provision at issue. 
 Section 3.11    Amendments. This Agreement may be amended only by written
agreement signed by all of the parties hereto. 
 Section 3.12    Termination of Agreement. This Agreement
shall terminate upon an agreement to terminate this Agreement by the written consent of each of the Stockholders. 
 [REST OF PAGE LEFT
INTENTIONALLY BLANK; SIGNATURE PAGE FOLLOWS] 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered
effective as of the date first above written. 
  

			
	Hub Group, Inc.
		
	 By:
	 	 /s/ David P. Yeager

 
			
	 Name:
	 	David P. Yeager
	 Title:
	 	Chairman and Chief Executive Officer
	 c/o Hub Group, Inc.

	 2000 Clearwater Drive

	 Oak Brook, Illinois 60523

 
			
	
	DPY 2011 Exempt Children’s Trust
		
	By:	 	 /s/ Matthew D. Yeager

 
			
	Name:	 	Matthew D. Yeager
	Title:	 	Trustee
	c/o Hub Group, Inc.
	2000 Clearwater Drive
	Oak Brook, Illinois 60523

 
			
		
	By:	 	 /s/ Phillip D. Yeager

 
			
	Name:	 	Phillip D. Yeager
	Title:	 	Trustee
	c/o Hub Group, Inc.
	2000 Clearwater Drive
	Oak Brook, Illinois 60523

 
			
		
	By:	 	 /s/ Laura C. Yeager

 
			
	Name:	 	Laura C. Yeager
	Title:	 	Trustee
	c/o Hub Group, Inc.
	2000 Clearwater Drive
	Oak Brook, Illinois 60523

  
  

  
 [Signature Page to
Amended and Restated Stockholders’ Agreement] 

 
			
	Matthew D. Yeager 1994 GST Trust

 
			
		
	 By:
	 	 /s/ David P. Yeager

 
			
	 Name:
	 	David P. Yeager
	 Title:
	 	Trustee
	 c/o Hub Group, Inc.

	 2000 Clearwater Drive

	 Oak Brook, Illinois 60523

	
	Phillip D. Yeager 1994 GST Trust

 
			
		
	 By:
	 	 /s/ David P. Yeager

 
			
	 Name:
	 	David P. Yeager
	 Title:
	 	Trustee
	 c/o Hub Group, Inc.

	 2000 Clearwater Drive

	 Oak Brook, Illinois 60523

	
	Laura C. Yeager 1994 GST Trust

 
			
		
	 By:
	 	 /s/ David P. Yeager

 
			
	 Name:
	 	David P. Yeager
	 Title:
	 	Trustee
	 c/o Hub Group, Inc.

	 2000 Clearwater Drive

	 Oak Brook, Illinois 60523

	
	 /s/ Mark A. Yeager

	 Name:
	 	Mark A. Yeager
	 c/o Hub Group, Inc.

	 2000 Clearwater Drive

	 Oak Brook, Illinois 60523

  
 [Signature Page to
Amended and Restated Stockholders’ Agreement] 

 
			
	 Mark A. Yeager Nonexempt Trust Created

Under the Phillip C. Yeager 1994 Trust

		
	By:	 	 /s/ Mark A. Yeager

 
			
	Name:	 	Mark A. Yeager
	Title:	 	Trustee
	c/o Hub Group, Inc.
	2000 Clearwater Drive
	Oak Brook, Illinois 60523

 
			
	
	Alexander B. Yeager 1994 GST Trust
		
	By:	 	 /s/ Mark A. Yeager

 
			
	Name:	 	Mark A. Yeager
	Title:	 	Trustee
	c/o Hub Group, Inc.
	2000 Clearwater Drive
	Oak Brook, Illinois 60523
	
	Samantha N. Yeager 1994 GST Trust

 
			
		
	By:	 	 /s/ Mark A. Yeager

 
			
	Name:	 	Mark A. Yeager
	Title:	 	Trustee
	c/o Hub Group, Inc.
	2000 Clearwater Drive
	Oak Brook, Illinois 60523

  
 [Signature Page to
Amended and Restated Stockholders’ Agreement] 

 
			
	Mark A. Yeager Perpetual Trust

 
			
		
	By:	 	 /s/ Mark A. Yeager

 
			
	Name:	 	Mark A. Yeager
	Title:	 	Trustee
	c/o Hub Group, Inc.
	2000 Clearwater Drive
	Oak Brook, Illinois 60523

 
			
	
	 David P. Yeager Nonexempt Trust Created

Under the Phillip C. Yeager 1994 Trust

 
			
		
	 By:
	 	 /s/ David P. Yeager

 
			
	Name:	 	David P. Yeager
	Title:	 	Trustee
	c/o Hub Group, Inc.
	2000 Clearwater Drive
	Oak Brook, Illinois 60523

  

  
 [Signature Page to
Amended and Restated Stockholders’ Agreement]2014-Q2-EX10.1

EXHIBIT 10.1

VECTOR GROUP LTD.
4400 Biscayne Blvd.
10th Floor
Miami, FL 33137

February 26, 2014, as amended May 16, 2014

Mr. Howard M. Lorber
[Address Redacted]

Dear Mr. Lorber:

We are pleased to inform you that, effective on the date hereof, Vector Group Ltd. (the "Company") has granted you a nonqualified option (the "Option") to purchase 250,000 shares of the Company's common stock, par value $.10 per share (the "Common Stock"), at a purchase price of $19.64 per share, subject to adjustment, pursuant to the Company's 2014 Management Incentive Plan, as may be and is in effect and as amended from time to time (the "Plan").  Any of the underlying shares of Common Stock to be issued upon exercise of the Option are referred to hereinafter as the "Shares." This agreement is conditioned upon the approval of the Plan by the Company's stockholders and is subject in all respects to the terms and provisions of the Plan, all of which terms and provisions are made a part of and incorporated in this agreement as if they were each expressly set forth herein.  In the event of any conflict between the terms of this agreement and the terms of the Plan, the terms of the Plan shall control.
1.    The Option may be exercised on or prior to the tenth anniversary of the date of grant (after which date the Option will, to the extent not previously exercised, expire), provided the Option shall only vest and become exercisable as to all of the aggregate shares covered thereby on February 26, 2018.  However, the Option shall earlier vest and become immediately exercisable upon (i) the occurrence of a "Change in Control" as defined in Section 13.3 of the Plan or (ii) the termination of your employment with the Company, including by reason of  death, disability or retirement to the extent allowed by the Committee in accordance with  Section 16 of the Plan.

2.    From and after the date it vests and becomes exercisable pursuant to Section 1 hereof, the Option may be exercised in whole or in part by delivering to the Company a written notice of exercise in the form attached hereto as Exhibit A, specifying the number of the Shares to be purchased and the purchase price therefor, together with payment of the purchase price of the Shares to be 

Mr. Howard M. Lorber
February 26, 2014, as amended May 16, 2014
Page 2

purchased.  The purchase price is to be paid in cash or by delivering shares of Common Stock already owned by you for at least six months having a fair market value on the date of exercise equal to the purchase price of the Option being exercised, or a combination of such shares and cash.

In addition, payment of the purchase price of the Shares to be purchased may also be made by delivering a properly executed notice to the Company, together with a copy of the irrevocable instructions to a broker to deliver promptly to the Company the amount of sale or loan proceeds necessary to pay the purchase price, and, if required, the amount of any federal, state or local withholding taxes.
No Shares shall be issued until full payment therefor has been made.  You shall have all of the rights of a stockholder of the Company holding the Common Stock that is subject to the Option (including the right to vote the Shares and the right to receive dividends thereon), when you have given written notice of exercise, have paid in full for such Shares and, if requested, have given the certificate described in Section 14 hereof.
3.    In the event your employment with the Company is terminated for any reason, the Option shall forthwith terminate, provided that you may exercise any then unexercised portion of the Option then vested and exercisable pursuant to Section 1 hereof at any time prior to the earlier of one year from the date of termination or the expiration of the Option.  
4.    The Option is not transferable except (i) by will or the applicable laws of descent and distribution, (ii) pursuant to a domestic relations order in accordance with Section 23.4 of the Plan, or (iii) to your family members or trusts or other entities whose beneficial owners are your family members or any other entity affiliated with you approved by the Committee.  In the event of a transfer, all terms and conditions of the Option, including the provisions relating to termination of your employment with the Company shall continue to apply following a transfer.
5.    In the event of your death or disability, the Option may be exercised by your personal representative or representatives, or by the person or persons to whom your rights under the Option shall pass by will or by the applicable laws of descent and distribution, within the one year period following termination due to death or disability.
6.    In the event of any change in capitalization affecting the Common Stock of the Company, including, without limitation, a stock dividend or other distribution, stock split, reverse stock split, recapitalization, consolidation, subdivision, split-up, spin-off, split-off, combination or exchange of shares or other form of reorganization or recapitalization, or any other change affecting the Common Stock, the Company shall make adjustments to the Option and/or provide for distributions, as appropriate, in accordance with the terms described in  Section 12 of the Plan.
7.    The grant of the Option does not confer on you any right to continue in the employ of the Company or any of its subsidiaries or affiliates or interfere in any way with the right of the Company or its subsidiaries or affiliates to terminate the term of your employment.

Mr. Howard M. Lorber
February 26, 2014, as amended May 16, 2014
Page 3

8.    The Company shall require as a condition to the exercise of any portion of the Option that you pay to the Company, or make other arrangements regarding the payment of, any federal state or local taxes required by law to be withheld as a result of such exercise.  
9.    You understand and acknowledge that Shares received upon exercise of the Option will be subject to the terms of the Company’s Equity Retention policy as in effect at the time of exercise.
10.    In the event of the payment of any dividends or other distributions (including distributions of securities of another issuer) in respect of the Common Stock beginning on or after the date hereof and continuing while you hold the Option,  you shall receive, within ten days of the payment of such dividend or distribution,  the amount of any such dividends or other distributions that would have been paid to you had you been, at the record date for such dividends or other distributions, a shareholder of the Shares issuable upon exercise of any then unexercised portion of the Option, whether vested or unvested (the "Dividend Equivalent").  In the event that the payment of such dividend or distribution occurs within the last ten days of a calendar year, the Dividend Equivalent shall be paid by the Company within the first ten days of the subsequent calendar year.  

11.    Pursuant to Section 5.2 of the Plan, the Committee administering the Plan will  amend the exercise price of the Option to ensure that it is not lower than the closing selling price of a Share as reported on the New York Stock Exchange on the date of approval of the Plan by the Company’s stockholders.  
12.    The Company represents and warrants to you as follows: (i) this letter agreement and the grant of the Option hereunder have been authorized by all necessary corporate action by the Company and this letter agreement is a valid and binding agreement of the Company enforceable against the Company in accordance with its terms; (ii) the grant of the Option to you on the terms set forth herein will be exempt from the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended, pursuant to Rule 16b-3(d) thereunder; (iii) the Company will obtain, at its expense, any regulatory approvals necessary or advisable in connection with the grant of the Option or the issuance of the Shares; and (iv) the Company currently has reserved and available, and will continue to have reserved and available during the term of the Option, sufficient authorized and issued shares of its Common Stock for issuance upon exercise of the Option.
13.    The Company shall use its best efforts to file and keep in effect a Registration Statement on Form S-8, Form S-3 or other applicable form to register under the Securities Act of 1933, as amended (the "Act"), the Shares issuable to you upon exercise of the Option and the resale thereof by you.
14.    Unless at the time of the exercise of any portion of the Option a registration statement under the Act is in effect as to the Shares, the Shares shall be acquired for investment and not for 

Mr. Howard M. Lorber
February 26, 2014, as amended May 16, 2014
Page 4

sale or distribution, and if the Company so requests, upon any exercise of the Option, in whole or in part, you agree to execute and deliver to the Company a reasonable certificate to such effect.
15.    You understand and acknowledge that: (i) any Shares purchased by you upon exercise of the Option may be required to be held indefinitely unless such Shares are subsequently registered under the Act or an exemption from such registration is available; (ii) any resales of such Shares made in reliance upon Rule 144 promulgated under the Act may be made only in accordance with the terms and conditions of that Rule (which, under certain circumstances, restrict the number of shares which may be sold and the manner in which shares may be sold); (iii) certificates for Shares to be issued to you hereunder shall bear a legend to the effect that the Shares have not been registered under the Act and that the Shares may not be sold, hypothecated or otherwise transferred in the absence of an effective registration statement under the Act relating thereto or an opinion of counsel satisfactory to the Company that such registration is not required; and (iv) the Company shall place an appropriate "stop transfer" order with its transfer agent with respect to such Shares.
16.    This letter agreement contains all the understandings between the Company and you pertaining to the matters referred to herein, and supercedes all undertakings and agreements, whether oral or in writing, previously entered into by the Company and you with respect hereto.  No provision of this letter agreement may be amended or waived unless such amendment or waiver is agreed to in writing signed by you and a duly authorized officer of the Company.  No waiver by the Company or you of any breach by the other party hereto of any condition or provision of this letter agreement to be performed by such other party shall be deemed a waiver of a similar or dissimilar condition or provision at the same time, any prior time or any subsequent time.  If any provision of this letter agreement or the application of any such provision to any party or circumstances shall be determined by any court of competent jurisdiction to be invalid and unenforceable to any extent, the remainder of this letter agreement or the application of such provision to such person or circumstances other than those to which it is so determined to be invalid and unenforceable, shall not be affected thereby, and each provision hereof shall be validated and shall be enforced to the fullest extent permitted by law.  This letter agreement will be governed by and construed in accordance with the laws of the State of Delaware, without regard to its conflicts of laws principles.  This letter agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

Mr. Howard M. Lorber
February 26, 2014, as amended May 16, 2014
Page 5

Would you kindly evidence your acceptance of the Option and your agreement to comply with the provisions hereof by executing this letter agreement in the space provided below.

Very truly yours,

VECTOR GROUP LTD.

By:    /s/ J. Bryant Kirkland III    
J. Bryant Kirkland III
Vice President, Treasurer and CFO

AGREED TO AND ACCEPTED:

/s/ Howard M. Lorber        
Howard M. Lorber

EXHIBIT A
Vector Group Ltd.
4400 Biscayne Blvd
10th Floor
Miami, FL 33137

Gentlemen:

Notice is hereby given of my election to purchase _________ shares of Common Stock, $.10 par value (the "Shares"), of Vector Group Ltd., at a price of $______ per Share, pursuant to the provisions of the stock option granted to me on February 26, 2014. Payment for the Shares will be made as follows:

my check in the amount of $_________________which is enclosed.

______________ Shares having a total value of $______________, such value being based on the closing price(s) of the Shares on the date hereof.

pursuant to the attached irrevocable instructions, a broker will sell ____ Shares on my behalf and promptly deliver to you $________ in satisfaction of the exercise price and $ ____ in satisfaction of applicable tax withholding. 

The following information is supplied for use in issuing and registering the Shares purchased hereby:

	
						
	 
	 
	 
	Number of Certificates and Denominations
	 
	 

	 
	 
	 
	 
	 
	 

	 
	 
	 
	Name
	 
	 

	 
	 
	 
	 
	 
	 

	 
	 
	 
	Address
	 
	 

	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 

	 
	 
	 
	Social Security No.
	 
	 

	 
	 
	 
	 
	 
	 

Dated:
Very truly yours,

Howard M. Lorber

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