Document:

EX-10.45

 Exhibit 10.45 

 
 

 
  

			
	To:	  	Todd Strubbe
	From:	  	West Corporation Compensation Committee
	Date:	  	February 14, 2012
		
	Re:	  	Exhibit A

  
 This Exhibit A for
2012 is entered into pursuant to your Employment Agreement: 
  

	1.	Your base salary will be $500,000. 

  

	2.	Effective January 1, 2012, you will be eligible to receive a bonus based on achieving the Unified Communications segment Net Operating Income before corporate
allocations and before amortization at the rates outlined below. 

  

					
	 Net Operating Income Before Corporate

Allocations and Before Amortization
	  	Rate	 
	 $0 - $427,000,000
	  	 	0.1171	% 
	 Over $427,000,000
	  	 	1.0	% 

 A maximum of 75% of the estimated pro-rata portion of the bonus may be advanced quarterly. If any portion
of the bonus is advanced, it will be paid within thirty (30) days from the end of the quarter. 100% of the total bonus earned will be paid no later than February 28, 2013. In the event there is a negative calculation at the end of any
quarter and a pro-rata portion of the bonus has been advanced in a previous quarter, “loss carry forward” will result and be applied to the next quarterly or year-to-date be calculation. In the event that at end of the year, or upon your
termination if earlier, the aggregate amount of the bonus which has been advanced exceeds the amount of bonus that otherwise would have been earned and payable for 2012 (in the absence of advances) based on the performance during 2012 (or, in the
case of your termination, based on the performance during 2012 and the projection for performance for the balance of 2012 as of your termination date pursuant to your Employment Agreement), then the amount of such excess may, in the discretion of
the Compensation Committee, either (i) result in a “loss carry forward” which shall be applied to the next quarterly or year-to-date calculation of bonuses, salary, severance, consulting fees and/or other amounts payable in subsequent
periods, or (ii) be required to be paid back to the company upon such request. 
  

	3.	In addition, if West Corporation achieves its 2012 publicly stated adjusted EBITDA guidance, you will be eligible to receive an additional one-time bonus of $100,000.
This bonus is not to be combined or netted together with any other bonus set forth in this agreement. 

  

	4.	All objectives are based upon the West Corporation and the Unified Communications segment operations, and will not include income derived from mergers, acquisitions,
joint ventures, stock buy backs or other non-operating income unless specifically and individually approved by West Corporation’s Compensation Committee. 

 

	5.	At the discretion of the Compensation Committee, you may receive an additional bonus based on the Company’s and your individual performance.

  

	
	
	/s/ Todd B. Strubbe
	Employee – Todd B. StrubbeFirst Amendment to Amended and Restated Custodian Agreement

 Exhibit 10.1 
 FIRST AMENDMENT TO AMENDED AND RESTATED CUSTODIAN AGREEMENT 
 This
Amendment is made as of February 10, 2012 
 BY AND BETWEEN 

 

	1)	JPMorgan Chase Bank N.A., London Branch, a company incorporated with limited liability as a National Banking Association, whose principal London office is at 125 London
Wall, London EC2Y 5AJ (“we” or “us”); and 

  

	2)	The Bank of New York Mellon, a banking corporation organized under the laws of the State of New York, whose principal place of business is at 101 Barclay Street, New
York, New York 10286, United States of America, in its capacity as trustee of the iShares Gold Trust (“Trust”) (in such capacity “you”) 

 INTRODUCTION 
 We have entered into the First Amended and Restated Custodian Agreement dated
September 2, 2010 (the “Custodian Agreement”) with you, pursuant to which we have agreed to open and maintain for you the Account (as defined in the Custodian Agreement) and to provide other services to you as provided therein.

 We have agreed with you to further amend the Custodian Agreement as hereinafter provided. 

IT IS AGREED AS FOLLOWS 
  

	1.	INTERPRETATION 

  

	 	1.1	Definitions: In this Amendment capitalized terms not otherwise defined herein have the meaning ascribed to them in the Custodian Agreement.

  

	 	1.2	Headings: The headings in this Amendment do not affect its interpretation. 

 

	 	1.3	Singular and plural: Reference to the singular include the plural and vice versa. 

 

	2.	AMENDMENT 

  

	 	2.1	Amendment to Clause 12.1. The first sentence of clause 12.1 of the Custodian Agreement is hereby amended by: 

 

	 	(i)	deleting the words “Either party may terminate this Agreement by giving not less than 60 Business Days written notice to the other party,” and

	 	(ii)	substituting the following language in lieu thereof: “Either party may terminate this Agreement as of a date on or after January 1, 2015, by giving not less than
180 Business Days written notice to the other party,”. 

  

	3.	GENERAL 

  

	 	3.1	Custodian Agreement in force and effect: Except as modified herein, the Custodian Agreement will continue in full force and effect pursuant
to the provisions thereof. 

  

	 	3.2	Assignment: This Amendment is for the benefit of and binding upon you and us and your and our respective successors and assigns. You may not assign,
transfer or encumber, or purport to assign, transfer or encumber, your right, title or interest in relation to any right or obligation under this Amendment or any part of any of the foregoing unless we otherwise agree in writing.

  

	 	3.3	Partial invalidity: If any of the clauses (or part of a clause) of this Amendment becomes invalid or unenforceable in any way under the Rules or any law,
the validity of the remaining clauses (or part of a clause) will not in any way be affected or impaired. 

  

	 	3.4	Entire agreement: This document represents the entire agreement, and supersedes any previous agreements between you and us relating to the subject matter
of this Amendment. 

  

	 	3.5	Counterparts: This Amendment may be executed in any number of counterparts each of which when executed and delivered is an original, but all the
counterparts together constitute the same agreement. 

  

	 	3.6	Contracts (Rights of Third Parties) Act 1999: Other than the Sponsor, a person who is not a party to this Amendment shall have no rights under the
Contracts (Rights of Third Parties Act) 1999. 

  

	 	3.7	Legal opinion: We will furnish to you an opinion of counsel acceptable to you addressed to you and dated the date hereof to the effect that:

  

	 	(a)	Our execution, delivery and performance of this Amendment have been duly authorized by us and do not and will not violate any applicable law or regulation and do not
require the consent of any governmental or other regulatory body; and 

  

	 	(b)	This Amendment has been duly executed and delivered by us and constitutes our legal, valid and binding obligation, enforceable in accordance with its terms subject to
principles of equity. 

	4.	GOVERNING LAW AND JURISDICTION 

  

	 	4.1	Governing law: This Amendment is governed by, and will be construed in accordance with, English law. 

 

	 	4.2	Jurisdiction: The English courts have non-exclusive jurisdiction to settle any disputes or claims which may arise out of or in connection with this
Amendment and, for these purposes you irrevocably submit to the jurisdiction of the English courts. 

  

	 	4.3	Waiver of immunity: To the extent that you may in any jurisdiction claim for yourself of your assets any immunity from suit, judgment, enforcement or
otherwise howsoever, you agree not to claim and irrevocably waive any such immunity to which you would otherwise be entitled (whether on grounds or sovereignty or otherwise) to the full extent permitted by the laws of such jurisdiction.

 EXECUTED by the parties 
 Signed on behalf of 
 JP Morgan Chase Bank N.A., London Branch 

 

			
	 By
	 	
		
	 Signature
	 	 /s/ A.C. Lovell

	 Name:
	 	Andrew Lovell
	 Title:
	 	Vice President

 Signed on behalf of 
 The Bank of New York Mellon, 
 solely in its capacity as trustee of the iShares Gold Trust,

 and not in its individual capacity 
  

			
	 By
	 	
		
	 Signature
	 	 /s/ Christopher Healy

	 Name:
	 	Christopher Healy
	 Title:
	 	Managing DirectorFourth Amendment to Custodian Agreement

 Exhibit 10.1 
 FOURTH AMENDMENT TO CUSTODIAN AGREEMENT 
 This Amendment
#4 is made as of February 10, 2012 
 BY AND BETWEEN 

 

	1)	JPMorgan Chase Bank N.A., London Branch, a company incorporated with limited liability as a National Banking Association, whose principal London office is at 125 London
Wall, London EC2Y 5AJ (“we” or “us”); and 

  

	2)	The Bank of New York Mellon, a banking corporation organized under the laws of the State of New York, whose principal place of business is at 101 Barclay Street, New
York, New York 10286, United States of America, in its capacity as trustee of the iShares Silver Trust (“Trust”) (in such capacity “you”) 

 INTRODUCTION 
 We have entered into the Custodian Agreement dated April 21, 2006 (as amended
on September 13, 2006, February 8, 2010, and November 5, 2010, the “Custodian Agreement”) with you, pursuant to which we have agreed to open and maintain for you the Account (as defined in the Custodian Agreement) and to provide
other services to you as provided therein. 
 We have agreed with you to further amend the Custodian Agreement as hereinafter provided.

 IT IS AGREED AS FOLLOWS 
  

	1.	INTERPRETATION 

  

	 	1.1	Definitions: In this Amendment capitalized terms not otherwise defined herein have the meaning ascribed to them in the Custodian Agreement.

  

	 	1.2	Headings: The headings in this Amendment do not affect its interpretation. 

 

	 	1.3	Singular and plural: Reference to the singular include the plural and vice versa. 

 

	2.	AMENDMENT 

  

	 	2.1	Amendment to Clause 7.4: Clause 7.4 is hereby deleted and the following Clause 7.4 inserted in lieu thereof: 

 

	 	“7.4	Location of Bullion: The Bullion must be held by us at our vault premises in England or New York or at the vaults of any Sub-Custodian in England or New
York, unless otherwise agreed between you and us (with the Sponsor’s approval).” 

	 	2.2	Amendment to Clause 12.1. The first sentence of clause 12.1 of the Custodian Agreement is hereby amended by: 

 

	 	(i)	deleting the words “Either party may terminate this Agreement by giving not less than 60 Business Days written notice to the other party,” and

  

	 	(ii)	substituting the following language in lieu thereof: “Either party may terminate this Agreement as of a date on or after January 1, 2015, by giving not less than
180 Business Days written notice to the other party,”: 

  

	3.	GENERAL 

  

	 	3.1	Custodian Agreement in force and effect: Except as modified herein, the Custodian Agreement will continue in full force and effect pursuant
to the provisions thereof. 

  

	 	3.2	Assignment: This Amendment is for the benefit of and binding upon you and us and your and our respective successors and assigns. You may not assign,
transfer or encumber, or purport to assign, transfer or encumber, your right, title or interest in relation to any right or obligation under this Amendment or any part of any of the foregoing unless we otherwise agree in writing.

  

	 	3.3	Partial invalidity: If any of the clauses (or part of a clause) of this Amendment becomes invalid or unenforceable in any way under the Rules or any law,
the validity of the remaining clauses (or part of a clause) will not in any way be affected or impaired. 

  

	 	3.4	Entire agreement: This document represents the entire agreement, and supersedes any previous agreements between you and us relating to the subject matter
of this Amendment. 

  

	 	3.5	Counterparts: This Amendment may be executed in any number of counterparts each of which when executed and delivered is an original, but all the
counterparts together constitute the same agreement. 

  

	 	3.6	Contracts (Rights of Third Parties) Act 1999: Other than the Sponsor, a person who is not a party to this Amendment shall have no rights under the
Contracts (Rights of Third Parties Act) 1999. 

  

	 	3.7	Legal opinion: We will furnish to you an opinion of counsel acceptable to you addressed to you and dated the date hereof to the effect that:

  

	 	(a)	Our execution, delivery and performance of this Amendment have been duly authorized by us and do not and will not violate any applicable law or regulation and do not
require the consent of any governmental or other regulatory body; and 

	 	(b)	This Amendment has been duly executed and delivered by us and constitutes our legal, valid and binding obligation, enforceable in accordance with its terms subject to
principles of equity. 

  

	4.	GOVERNING LAW AND JURISDICTION 

  

	 	4.1	Governing law: This Amendment is governed by, and will be construed in accordance with, English law. 

 

	 	4.2	Jurisdiction: The English courts have non-exclusive jurisdiction to settle any disputes or claims which may arise out of or in connection with this
Amendment and, for these purposes you irrevocably submit to the jurisdiction of the English courts. 

  

	 	4.3	Waiver of immunity: To the extent that you may in any jurisdiction claim for yourself of your assets any immunity from suit, judgment, enforcement or
otherwise howsoever, you agree not to claim and irrevocably waive any such immunity to which you would otherwise be entitled (whether on grounds or sovereignty or otherwise) to the full extent permitted by the laws of such jurisdiction.

 EXECUTED by the parties 
 Signed on behalf of 
 JP Morgan Chase Bank N.A., London Branch 

 

			
	 By
	 	
		
	 Signature
	 	 /s/ A.C. Lovell

	 Name:
	 	 Andrew Lovell

	 Title:
	 	 Vice President

 Signed on behalf of 
 The Bank of New York Mellon, 
 solely in its capacity as trustee of the iShares Silver
Trust, 
 and not in its individual capacity 
  

			
	 By
	 	
		
	 Signature
	 	 /s/ Christopher Healy

	 Name:
	 	 Christopher Healy

	 Title:
	 	 Managing Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}]]