Document:

exv10w1

 

Exhibit 10.1

FIRST AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT

This First Amendment to Amended and Restated Employment Agreement by and between CLARCOR Inc., a
Delaware corporation (the “Corporation”), and Norman Johnson (the “Executive”) is
dated as of January 19, 2008.

WHEREAS, the parties are parties to that certain Amended and Restated Employment Agreement dated
December 17, 2000 (the “Employment Agreement”);

WHEREAS, the parties wish to amend certain provisions of the Employment Agreement, as further
specified herein;

WHEREAS, all capitalized terms used herein have the meanings ascribed to them in the Employment
Agreement unless otherwise defined;

NOW, THEREFORE, in consideration of past grants of stock options and restricted stock units
previously issued to the Executive and for other good and valuable consideration the sufficiency of
which is hereby acknowledged by each of the parties, the parties hereby agree as follows:

	 	1.	 	Amendments.

	 	(a)	 	Section 1(a) of the Employment Agreement is hereby amended to delete
therefrom the words “in Rockford, Illinois”.
	 
	 	(b)	 	Section 3(f) of the Employment Agreement (which provided the Executive
with the potential right to receive a special one-time bonus and option grant in
the event the Corporation achieved certain sales or profitability targets in a
given quarter) is hereby deleted from the Agreement in its entirety and of no
further effect. The Executive hereby forever and irrevocably waives any right that
he has or had to receive the benefits contemplated under this Section of the
Employment Agreement.

	 	2.	 	No Further Amendment. Except as set forth in the preceding paragraphs, the
parties do not otherwise modify the Employment Agreement and all other provisions thereof
remain unchanged and in full force and effect as originally executed.

IN WITNESS WHEREOF, Executive has hereunto set his hand and, pursuant to the authorization from its
Board of Directors, the Corporation has caused these presents to be executed in its name on its
behalf, all as of the day and year first above written.

	 	 	 	 	 
	Executive

	 	CLARCOR Inc.

	 
	/s/ Norman Johnson

	 	By: 	/s/ Robert Jenkins	 
	 

	 	 	 	 
	Norman Johnson

	 	 	 Robert Jenkins

Compensation Committee ChairmanEX-10.1 FORM OF INCENTIVE COMPENSATION PLAN

 

Exhibit 10.1

FORM OF

2008 INCENTIVE COMPENSATION PLAN

          For each calendar year, the Compensation Committee (“Committee”) of the Board of Directors of
Fidelity will establish in its sole discretion (after discussion with Management) the percentage of
base salary available for incentive compensation consideration and the executive incentive
compensation evaluation criteria, which will include corporate and individual performance
measurements, goals and objectives, both financial and non-financial, for such calendar year prior
to or at the commencement of the calendar year. ___will be paid incentive compensation
(“Incentive Compensation”), if any, in cash as determined by the Committee following its evaluation
of Corporate and individual performance relative to the executive compensation criteria established
at the beginning of the calendar year and such other measures or modifications as the Committee at
its sole discretion, may consider.

          The Committee has determined that in 2008 ___will be eligible for 20% of base
compensation as Incentive Compensation, or such amount as may be determined by the Compensation
Committee. The Committee will evaluate Fidelity’s and ___’s 2008 performance relative to
the following financial and non-financial measurements, goals and objectives, and such other
measures and modifications as the Committee, in its sole discretion, may consider in the
determination of Incentive Compensation to be paid for 2008.

	 	1.	 	Financial Performance Measurements based on the approved 2008 Budget (These
measurements may be modified for evaluation purposes at any time during 2008 based on
changes in the strategic plan, the business plan, competitive or economic factors, changes
in regulatory or accounting rules, laws or regulations or such other factors as the
Compensation Committee, in its sole discretion, may determine.):

	 	•	 	Net income
	 
	 	•	 	Earnings per share (EPS)
	 
	 	•	 	Return on equity (ROE)
	 
	 	•	 	Return on assets (ROA)
	 
	 	•	 	Total stockholder return
	 
	 	•	 	Loan growth
	 
	 	•	 	Asset quality
	 
	 	•	 	Deposit growth
	 
	 	•	 	Net interest margin
	 
	 	•	 	Noninterest income
	 
	 	•	 	Noninterest expense management and control
	 
	 	•	 	Business unit net income

	 	2.	 	Non-financial Corporate and Individual Goals including but not limited to:

	 	•	 	Compliance with laws and regulations including Compliance and Safety and
Soundness ratings of 2 or better

 

	 	•	 	Hiring proven lenders and managers, as identified, to grow loans and deposits or
develop, expand or improve operations and products and services and their delivery
	 
	 	•	 	Opening new branches and loan production offices to profitably expand market
presence
	 
	 	•	 	Market share growth
	 
	 	•	 	Development/expansion of profitable products/services and delivery systems
	 
	 	•	 	Furtherance of or achievement of strategic goals and objectives
	 
	 	•	 	Individual performance based on competitive, legal, regulatory, and economic
conditions
	 
	 	•	 	Such other factors as the Compensation Committee in its sole discretion may
consider in determining the amount, if any, of Incentive Compensation to be
awarded.

          The right of ___to receive Incentive Compensation, if any, hereunder related to a
calendar year shall vest on the last day of such calendar year. In the event ___is
entitled pursuant to the Agreement and the determination of the Committee at its sole discretion to
Incentive Compensation for a period of less than a full year, the Incentive Compensation, if any,
for such year shall vest on the last day of his employment.

          Within 60 days after the end of 2008, management shall calculate and evaluate Fidelity’s and
___’s performance relative to the 2008 Criteria and provide such calculations and
evaluations to the Committee for its review.

          The Committee shall, within 90 days after the end of 2008, make its own independent assessment
of the extent to which the 2008 Criteria and such other measures and modifications as the
Committee, in its sole discretion, may consider have been achieved; and, based on its assessment,
shall award Incentive Compensation in such amounts, if any, as it deems to have been earned by
___.

          The Committee may revise or modify the 2008 Criteria for the year to the extent the Committee,
in the exercise of its sole and absolute discretion, believes necessary or deems equitable in light
of any unexpected or unusual or non-recurring circumstances or events, including but not limited
to, changes in accounting rules, accounting practices or procedures, tax and other laws and
regulations, or in the event of mergers, acquisitions, divestitures, unanticipated increases in
regulatory fees or costs, any extraordinary or unanticipated competitive or economic circumstances,
or any other factors as the Committee may determine.

          In addition, in determining whether or to the extent that any one or more of the 2008 Criteria
have been met, the Committee may adjust the Corporation’s financial results to exclude the effects
of any or all extraordinary items (as determined under generally accepted accounting principles)
and any other unusual or non-recurring items that distort year-to-year comparisons of results or
otherwise distort results for the year (either on an entity, business unit, or consolidated basis)
and consider the impact on results of other events, including but not limited to, charges or costs
associated with restructurings of the Corporation, discontinued operations, acquisitions or
dispositions of business entities or assets, reorganizations, mergers or divestures, the effects of
competition or economic conditions, and of changes in tax, regulatory or accounting rules, laws or
regulations.

2

 

          Payment is to be made in cash promptly after the amount is determined but in no event later
than April 15 of the calendar year following the calendar year for which the Incentive Compensation
is earned. The Committee, in its sole discretion, during a calendar year may make a non-refundable
prepayment of a portion of the Incentive Compensation to ___if it believes that the partial
payment will not exceed the amount of the Incentive Compensation for that calendar year.

	 	 	 	 	 
	 	 	FIDELITY SOUTHERN CORPORATION
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	 	 	 
	 

	 	Title:
	 	Chairman
	 
	 	 	 	 
	 	 	FIDELITY BANK
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	 	 	 
	 

	 	Title:
	 	Chairman
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	 	 	 
	 

	 	Date:	 	 
	 

	 	 	 	 

3EX-10.12.4

 

Exhibit 10.12.4

INTERCOMPANY LOAN

DATED 21 DECEMBER 2007

Between

BIWATER B.V.

and

CASCAL B.V.

ALLEN & OVERY

Allen & Overy LLP

71872-00025 PG:2173022.3

 

 

THIS AGREEMENT is dated 21 December, 2007 and is made BETWEEN:

	(1)	 	BIWATER B.V., a private limited liability company (besloten vennootschap met beperkte
aansprakelijkheid) incorporated under the laws of the Netherlands, having its official seat in
Amsterdam, the Netherlands, registered with the commercial register under number 34108177 and
having its office address at Strawinskylaan 3105, 1077 ZX, Amsterdam (Biwater); and

	(2)	 	CASCAL B.V., a private limited liability company (besloten vennootschap met beperkte
aansprakelijkheid) incorporated under the laws of the Netherlands, having its official seat in
Amsterdam, the Netherlands, registered with the commercial register under number 34112761 and
having its office address at Strawinskylaan 3105, 1077 ZX, Amsterdam (Cascal).

WHEREAS:

	 	 	 
	(A)

	 	Biwater and Cascal entered into a deed of priorities dated 16 November 2007 between Biwater,
Cascal and HSBC Bank plc in various capacities (the Agreement); and
	 
	 	 
	(B)

	 	Biwater and Cascal wish to record certain arrangements between themselves in connection with
the Agreement.

IT IS AGREED as follows:

	1.	 	Definitions

	 
	 	 	Terms defined in the Agreement (including terms incorporated by reference into the
Agreement) shall have, unless otherwise defined in this agreement, the same meaning when
used in this agreement.

	2.	 	The Loan

	 
	 	 	We, Biwater, have agreed to make available to Cascal an unsecured loan of an amount equal to
the Enforcement Amount (the Loan).

	3.	 	Utilisation

	 	 	 
	(a)

	 	The parties acknowledge that, pursuant to clause 4.6(c) of the Agreement and in
accordance with the terms of the Agreement, an amount standing to the credit of the
Enforcement Proceeds Account may be applied to discharge any outstanding Cascal Debt
(such amount, the Enforcement Amount).
	 
	 	 
	(b)

	 	Upon payment of the Enforcement Amount as described in Clause 3 above, Biwater
shall make available the Loan.

	4.	 	Repayment

	 
	 	 	The Loan is repayable by Cascal on demand by Biwater at any time.

	5.	 	Interest

	 
	 	 	The Loan will accrue interest at the base rate plus 3 per cent. quoted by the Royal Bank of
Scotland plc on the date Biwater makes available the Loan (or as otherwise agreed between
the parties). Interest will accrue from day to day while the Loan is outstanding and is
payable in arrears on the date of repayment of the Loan.

1

 

	6.	 	Assignment

	 
	 	 	This agreement enures to the benefit of each party to it or any of its successors or
assignees. Biwater may assign or transfer all or any of its rights under this agreement
without the consent of Cascal. Cascal may not assign or transfer any of its rights under
this agreement without the consent of Biwater.

	7.	 	Counterparts

	 
	 	 	This agreement may be executed in any number of counterparts and this has the same effect as
if the signatures on the counterparts were on a single copy of this agreement.

	8.	 	Governing law

	 
	 	 	This agreement will be governed by and construed in accordance with English law.

2

 

SIGNATORIES

	 	 	 
	BIWATER B.V.

	 	 
	 
	 	 
	By:  /s/ D.L.
Magor

	 	 
	 
	 	 
	 

	 	 
	Director/Secretary   D.L.
Magor

	 	 
	 
	 	 
	By:  /s/ W.
Kamphuijs

	 	 
	 
	 	 
	 

	 	 
	Director/Secretary   W.
Kamphuijs

	 	 
	 
	 	 
	 
	 	 
	CASCAL B.V.

	 	 
	 
	 	 
	By:  /s/ S.
Richer

	 	 
	 
	 	 
	 

	 	 
	Executive Director   S.
Richer

	 	 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}]]