Document:

ex10-2.htm

Exhibit 10.2

 

SERVICES ADDENDUM

 

TO

 

FINANCIAL AND INVESTOR RELATIONS SUPERVISORY CONSULTING AGREEMENT

 

THIS SERVICES ADDENDUM TO THE FINANCIAL AND INVESTOR RELATIONS SUPERVISORY AGREEMENT, of April 7, 2010, between TaxMasters, Inc. and Velvet International, LTD., is made as of this 19th day of May, 2010 WITNESSETH THAT, WHEREAS, the parties have discussed the rendition of services by CONSULTANT in addition to the supervisory services already agreed upon, have negotiated with respect thereto, and have agreed upon the additional services and the compensation therefor, and
the parties desire to have a formal agreement to formalize and evidence the terms of their agreements and understandings with respect thereto;

 

NOW, THEREFORE, intending to be legally bound and in consideration of the mutual promises and covenants, the parties have agreed as follows:

 

1. ADDITIONAL SERVICES.   CONSULTANT shall directly, through its contacts other than the IR and PR companies being supervised, search for, identify, contact and seek to secure interest in the CLIENT from institutional investors, such as
banks, investment advisors to funds, private ("hedge") funds, and similar entities.

 

2. COMPENSATION.  As compensation for the additional services, the CLIENT shall issue  to  CONSULTANT   One   Million   (1,000,000)   shares  of  its   Common   Stock
immediately upon execution hereof, with a "tacking date" of May 19, 2010. Such shares shall bear the usual restrictive legend with respect to their unregistered status and the inability to transfer the shares without either registration or an available exemption therefrom.

 

IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have executed this Agreement.

 

CLIENT: TAXMASTERS, INC.

 

By:

 

CONSULTANT: VELVET INTERNATIONAL, INC.ex10-3.htm

Exhibit 10.3

 

SECOND SERVICES ADDENDUM

TO

FINANCIAL AND INVESTOR RELATIONS

SUPERVISORY CONSULTING AGREEMENT

THIS SERVICES ADDENDUM TO THE FINANCIAL AND INVESTOR RELATIONS SUPERVISORY AGREEMENT, of April 7, 2010, between TaxMasters Inc. and Velvet International, LTD., in made as of this 27th day of July, 2010.

WITNESSETH THAT, WHEREAS, in connection with the due diligence investors meeting held in New York City on July 27, 2010, it was decided that the scope of the services being rendered required additional compensation, and the parties negotiated with respect thereto, and have agreed upon the additional services and the compensation therefore, and the parties desire to have a formal agreement to formalize and evidence the terms of their agreements and understandings with respect thereto;

NOW, THEREFORE, intending to be legally bound and in consideration of the mutual promises and covenants, the parties have agreed as follows:

1.           ADDITIONAL SERVICES. CONSULTANT shall directly, through its contacts other than the IR and PR companies being supervised, search for, identify, contact and seek to secure interest in the CLIENT from institutional investors, such as banks, investment advisors to funds, private (“hedge”) funds, and similar entities.

2.           COMPENSATION. As compensation for the additional services, the CLIENT shall issue to CONSULTANT Four Million (4,000,000) shares of its Common Stock immediately upon execution hereof, with a “tacking date” of July 27, 2010. Such shares shall bear the usual restrictive legend with respect to their unregistered status and the inability to transfer the shares without other registration or an available exemption therefrom.

IN WITNESS WHEREOF, the parties hereto, intending to be legally bound have executed this Agreement.MORN_Exhibit_10.1_9.30.2011

Exhibit 10.1

MORNINGSTAR, INC.
2011 STOCK INCENTIVE PLAN
RESTRICTED STOCK UNIT AWARD AGREEMENT

THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (including Schedule 1 hereto, the “Award Agreement”) is made under the Morningstar, Inc. 2011 Stock Incentive Plan (the “Plan”) as of the Grant Date specified in Schedule 1 to this Award Agreement (“Schedule 1”).  Any term capitalized but not defined in this Award Agreement will have the meaning set forth in the Plan.  
BETWEEN:
		
	(1)
	MORNINGSTAR, INC., an Illinois corporation (the “Company”); and

		
	(2)
	The Participant identified in Schedule 1.

1    GRANT OF RESTRICTED STOCK UNITs
		
	1.
	In accordance with the terms of the Plan and subject to the terms and conditions of this Award Agreement, the Company hereby grants to the Participant the number of Restricted Stock Units specified in Schedule 1. 

		
	2.
	Each Restricted Stock Unit is a notional amount that represents one unvested share of common stock, no par value, of the Company (a “Share”).  Each Restricted Stock Unit constitutes the right, subject to the terms and conditions of the Plan and this Award Agreement, to distribution of a Share if and when the Restricted Stock Unit vests. 

		
	3.
	This Award Agreement is subject to the provisions of the Plan and shall be interpreted in accordance therewith.  The Participant hereby agrees to be bound by the terms of this Award Agreement and the Plan.

		
	4.
	Further details of the Restricted Stock Units granted to the Participant under the terms of this Award Agreement are set forth in Schedule 1.

		
	1
	Rights as a Shareholder

		
	1.
	Unless and until a Restricted Stock Unit has vested and the Share underlying it has been distributed to the Participant, the Participant will not be entitled to vote that Share.

		
	2.
	If the Company declares a cash dividend on the Shares, then, on the payment date of the dividend, 

the Participant will be credited with dividend equivalents equal to the amount of cash dividend per Share multiplied by the number of Restricted Stock Units credited to the Participant through the record date for the dividend.  The dividend equivalents credited to the Participant under the preceding sentence will be deemed to be reinvested in additional Restricted Stock Units and credited to the Participant's Restricted Stock Unit account.  The Restricted Stock Units credited as a result of such dividend equivalents will be subject to the same terms regarding vesting and forfeiture as the Participant's Restricted Stock Units awarded hereunder, and, subject to the following sentence, will be distributed in Shares at the same time and in the same proportion that the Shares associated with the Participant's Restricted Stock Units are delivered (or forfeited at the time that the Participant's Restricted Stock Units are forfeited).  Fractional Shares may be settled in cash or otherwise, including by rounding up or down to the nearest whole number, as the Committee determines.
		
	2
	termination of service and OTHER ChANGES IN SERVICE STATUS

		
	1.
	If the Participant's Service (as defined in Section 3.3) terminates for any reason other than Disability or death, the Participant will forfeit the right to receive Shares underlying any Restricted Stock Units that have not vested at that time.  Notwithstanding anything in the Plan to the contrary, for purposes of this Award Agreement, “Disability” shall mean the condition of being “disabled” as provided in Code Section 409A(a)(2)(C).

		
	2.
	If the Participant's Service terminates on account of the Disability or death of the Participant, the Shares underlying all of the Restricted Stock Units awarded hereunder shall become immediately vested and be distributed to the Participant or the Participant's beneficiary under the Plan as soon as practicable in accordance with Section 4.1 of this Award Agreement.

		
	3.
	For purposes of this Award Agreement “Service” means the provision of services to the Company or its Affiliates in the capacity of an employee or a member of the Board but not as a consultant to the Company or an Affiliate.  For purposes of this Award Agreement, the transfer of an employee from the Company to an Affiliate, from an Affiliate to the Company or from an Affiliate to another Affiliate shall not be a termination of Service.  However, if the Affiliate for which an employee is providing services ceases to be an Affiliate of the Company due to a sale, transfer or other reason, and the employee ceases to perform services for the Company or any Affiliate, the employee shall incur a termination of Service.  For purposes of this Award Agreement, "Affiliate” means an entity that is (directly or indirectly) controlled by, or controls, the Company.

		
	3
	Timing and Form of Payment

		
	1.
	Once a Restricted Stock Unit vests, the Participant will be entitled to receive a Share in its place.  Delivery of the Share will be made as soon as administratively feasible after its associated Restricted Stock Unit vests, but no later than 21⁄2 months from the end of the calendar year in which such vesting 

occurs. 
		
	4
	WITHHOLDING obligations

		
	1.
	Without limiting the Company's power or rights pursuant to Section 5.5 of the Plan, amounts required by tax law or regulation to be withheld by the Company with respect to any taxable event arising under this Award Agreement will be satisfied by having Shares withheld in accordance with Section 5.5 of the Plan.  In addition, the Participant may elect to deliver to the Company the necessary funds to satisfy the withholding obligation, in which case there will be no reduction in the Shares otherwise distributable to the Participant.

		
	5
	NOTICES

		
	1.
	Any notice or other communication required or permitted under this Award Agreement must be in writing and must be delivered personally, sent by certified, registered or express mail, or sent by overnight courier, at the sender's expense.  Notice will be deemed given when delivered personally or, if mailed, three days after the date of deposit or, if sent by overnight courier, on the regular business day following the date sent.  Notice to the Company should be sent to Morningstar, Inc., 22 West Washington Street, Chicago, Illinois, 60602, Attention: General Counsel.  Notice to the Participant should be sent to the address of the Participant contained in the Company's records.  Either party may change the person and/or address to whom the other party must give notice by giving such other party written notice of such change, in accordance with the procedures described above.

		
	6
	CONSTRUCTION

		
	1.
	The Restricted Stock Units granted hereunder are subject to any rules and regulations promulgated by the Committee pursuant to the Plan, now or hereafter in effect.

		
	2.
	The Company and the Participant may amend this Award Agreement only by a written instrument signed by both parties, provided, that the Company may amend this Award Agreement without further action by the Participant if (i) such amendment is deemed by the Company to be advisable or necessary to comply with applicable law, rule, or, regulation, including Section 409A of the Code, or (ii) if such amendment is not to the detriment of the Participant.

		
	3.
	The parties may execute this Award Agreement in one or more counterparts, all of which together shall constitute but one Award Agreement.

IN WITNESS whereof the parties have executed this Restricted Stock Unit Award Agreement as of the Grant Date specified in Schedule 1.

Participant

_____________________                    
(Participant's signature)                    

_____________________
(Print name)

Morningstar, Inc. 
By:___________________
Its:___________________

Please return by:  «Date»
SCHEDULE 1
DETAILS OF RESTRICTED STOCK UNIT GRANTED TO THE PARTICIPANT
	
			
	Participant's name:
	«First» «Name»

	Grant Date:
	«Grant_date»

	Number of Restricted Stock Units:
	«Total_RSU_Grant»

	Vesting of Restricted Stock Units:
	Subject to, and except as otherwise provided by, the Award Agreement, including Section 3.2 thereof, the Restricted Stock Units subject to the Award Agreement vest in installments, with each installment becoming vested on the “Vesting Date” shown below, if the Participant has remained in continuous Service until that Vesting Date. Notwithstanding the foregoing, the Board or the Committee may cause the Restricted Stock Units granted hereby to vest at an earlier date pursuant to its authority under the Plan.

	Number of Restricted Stock Units
	Vesting Date

	«Year1Vest»
	«VestDateY1»

	«Year2Vest»
	«VestDateY2»

	«Year3Vest»
	«VestDateY3»

	«Year4Vest»
	«VestDateY4»

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