Document:

EXHIBIT 10.26

 

February 1, 2013

 

John C. Ferrara

 

Dear John,

 

We are pleased to extend to
you an offer of employment with TheStreet, Inc. (the “Company” or “TheStreet”) pursuant to this letter
agreement (the “Letter”) as described below:

 

		1.	POSITION: You will serve in a full-time capacity
at TheStreet, and will be appointed as Chief Financial Officer immediately following the effective date of the resignation of our
current Chief Financial Officer. You will perform such duties, functions and responsibilities as are generally incident to such
position, reporting to and subject to the direction of the Chief Executive Officer or his or her designee. 

 

		2.	TERM: We anticipate that you will commence employment
on a mutually agreed upon date on or before March 1, 2013 (the actual date you start employment, the “Start Date”)
and your employment shall continue until terminated by either you or the Company.

 

		3.	AT WILL STATUS: Your employment with TheStreet is
“at will.” This means that either you or TheStreet may terminate your employment at any time, with or without notice,
and with or without cause. Your status as an “at will” employee cannot be changed or retracted, either orally or in
writing, by any policy or conduct, unless you receive a document expressly stating that your employment is no longer at-will, which
is signed both by you and the Company’s Chief Executive Officer.

 

		4.	COMPENSATION: We will compensate you as an exempt
employee at the rate of $9,166.67 semi-monthly, which is $220,000 on an annualized basis, which will be reviewed annually for potential
increase at the discretion of the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”).
Payments are made on the 15th and last day of each month (or the preceding business day if the regular payday falls
on a weekend or holiday) and will be subject to applicable withholding and taxes.

 

BONUS: In addition
to your base salary, you are eligible to receive an annual bonus of up to 40% of your base salary (prorated from your Start Date
for 2013), as determined by the Company in its sole discretion, which determination may be based on both your individual performance
and the performance of the Company. Bonuses will be calculated quarterly. Target bonuses for each calendar quarter will be 22.5%
of the annual target bonus, with the remaining 10% of the annual target bonus to be based upon the full year. Any bonus amount
determined by the Company to be payable shall be paid not later than 30 days following the end of the quarter, with respect to
the first, second and third quarter bonus amounts and not later than 60 days following the end of the year, with respect to the
fourth quarter and full year bonus amounts, provided that you must remain a full-time employee of the Company through the payment
date in order to receive the payment.

 

NEW HIRE BONUS: In
addition to your base salary and any other annual bonuses that you may be entitled to, as an incentive for you to spend additional
time familiarizing yourself with the Company so as to better be able to perform your job functions, the Company will

 

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pay you an
initial bonus in the amount of $10,000 on the first payroll date after your Start Date, less applicable withholding and taxes.

 

		5.	BENEFITS: You will be eligible to participate in
any employment benefits plans provided by TheStreet, subject to the terms, conditions and eligibility requirements of any relevant
benefits plan documents. At present, these benefits include, but are not limited to, group medical, dental and vision plans, 100%
company paid coverage under the Company’s comprehensive Life Insurance, Short-Term and Long-Term Disability Plans subject to applicable
waiting periods and three (3) weeks of paid vacation annually (prorated for any partial year). You will also have the opportunity
to participate in TheStreet’s 401(k) Savings Plan, Flexible Spending Account Plans and Transit Benefits, subject to the terms,
conditions and eligibility requirements of such plans. TheStreet reserves the right to amend or terminate any of its benefit programs
at any time with or without notice in its sole discretion.

 

		6.	EQUITY COMPENSATION: Subject to approval by the
Compensation Committee, as soon as practicable following the Start Date, the Company will grant you an option to purchase 325,000
shares of common stock of the Company (the “Option”). The Option will vest and become exercisable at the rate of twenty-five
percent of the shares subject to the Option on the first anniversary of the Start Date and 1/36 of the remaining seventy-five percent
of the shares subject to the Option in monthly increments over the next 36 months thereafter on the anniversary of the Start Date
(or the last day of the month, if necessary). The per share exercise price for the Option will be the closing price of TheStreet
common stock on the NASDAQ Stock Market on the grant date. The Option will be a nonqualified and a non-plan grant intended to constitute
an “inducement award” within the meaning, and subject to the requirements of, the corporate governance rules for the
NASDAQ Stock Market. Details regarding this grant, including any terms and conditions will be set forth in a separate grant agreement,
which will be in substantially the form attached as Exhibit A hereto (the actual agreement evidencing the Option, referred to as
the “Option Agreement”). 

 

		7.	POLICIES: As an employee, you will be required to
comply fully with the provisions of the Company’s Investment policy, Code of Business Conduct and Ethics, Compliance Manual
and other compliance policies and procedures relevant to your position with the Company (the “Employment Materials”).
Compliance is a condition of employment at TheStreet and you will be required to sign forms confirming that you will abide by the
requirements of these policies and procedures. These materials, however, will not change your at-will employment status and are
merely meant to provide additional information relating to your job.

 

		8.	SEVERANCE: In the event that your employment is
terminated by the Company (or any successor) for any reason other than for “Cause” (as defined in the Option Agreement),
you will receive:

 

		(a)	A severance payment (the “Severance Payment”)
equal to six (6) months of your current base salary; provided, however, if such termination of employment other than for Cause
occurs during the period commencing fifteen (15) days prior to a “Change of Control” (as defined in the Company’s
2007 Performance Incentive Plan) and ending on the twelve (12) month anniversary of such Change of Control, the Severance Payment
shall be increased to twelve (12) months of your current base salary (the number of months used to calculate the Severance Payment

 

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	 	 	pursuant to this Section 8(a) referred to as the “Severance Period”). The Severance Payment, if any, shall be made
within 30 days of the date of termination of your employment. 

 

	

	(b)	If you elect continuation coverage pursuant
to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for you and your eligible dependents,
within the time period prescribed pursuant to COBRA, the Company will reimburse you for or pay directly on your behalf the COBRA
premiums for such coverage (at the coverage levels in effect immediately prior to your termination or resignation) until the earlier
of (i) a number of months from the last date of your employment with TheStreet equal to the Severance Period, or (ii) the date
upon which you and/or your eligible dependents becomes covered under similar plans. COBRA reimbursements will be made by the TheStreet
to you consistent with the TheStreet’s normal expense reimbursement policy. The amount of the COBRA premiums reimbursed
to you or paid directly on your behalf will be taxable to the extent required to avoid adverse consequences to you or TheStreet
under either Section 105(h) of the Internal Revenue Code of 1986, as amended (the “Code”) or the Patient Protection
and Affordable Care Act of 2010.

 

		(c)	Your rights to the severance and benefits in this
Section 8 are subject to your execution of an appropriate release agreement in a form substantially equivalent to the sample form
previously provided to you by TheStreet.

 

		9.	PARACHUTE PAYMENT LIMITATION: Anything in this Letter
or the Option Agreements to the contrary notwithstanding, in the event that:

 

		(a)	the aggregate payments or benefits to be made or
distributed by TheStreet or its affiliates to you or for your benefit (whether paid or payable or distributed or distributable
pursuant to the terms of this Letter or otherwise) which are deemed to be parachute payments as defined in Code Section 280G or
any successor thereto (the “Change of Control Benefits”) would be deemed to include an “excess parachute payment”
under Code Section 280G; and

 

		(b)	if such Change of Control Benefits were reduced
to an amount (the “Non-Triggering Amount”), the value of which is one dollar ($1.00) less than an amount equal to three
(3) times your “base amount,” as determined in accordance with Code Section 280G and the Non-Triggering Amount less
the product of the marginal rate of any applicable state and federal income tax times the Non-Triggering Amount would be greater
than the aggregate value of the Change of Control Benefits (without such reduction) minus (x) the amount of tax required to be
paid by you thereon by Code Section 4999 and further minus (y) the product of the Change of Control Benefits times the marginal
rate of any applicable state and federal income tax, then the Change of Control Benefits shall be reduced to the Non-Triggering
Amount. Any reduction made pursuant to this Section 9(b) shall be made in accordance with the following order of priority: (i)
stock options whose exercise price exceeds the fair market value of the optioned stock (“Underwater Options”), (ii)
Full Credit Payments (as defined below) that are payable in cash, (iii) non-cash Full Credit Payments that are taxable, (iv) non-cash
Full Credit Payments that are not taxable, (v) Partial Credit Payments (as defined below) and (vi) non-cash employee welfare benefits.
In each case, reductions shall be made in reverse 

 

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	 	 	chronological order such that the payment or benefit owed on the latest date
following the occurrence of the event triggering the excise tax will be the first payment or benefit to be reduced (with reductions
made pro-rata in the event payments or benefits are owed at the same time). “Full Credit Payment” means a payment,
distribution or benefit, whether paid or payable or distributed or distributable pursuant to the terms of this Letter or otherwise,
that if reduced in value by one dollar reduces the amount of the parachute payment (as defined in Code Section 280G) by one dollar,
determined as if such payment, distribution or benefit had been paid or distributed on the date of the event triggering the excise
tax. “Partial Credit Payment” means any payment, distribution or benefit that is not a Full Credit Payment. In no event
shall you have any discretion with respect to the ordering of payment reductions.

 

		10.	SECTION 409A:

 

		(a)	Notwithstanding anything to the contrary in this
Letter, no severance pay or benefits to be paid or provided to you, if any, pursuant to this Letter that, when considered together
with any other severance payments or separation benefits, are considered deferred compensation not exempt under Section 409A (together,
the “Deferred Payments”) will be paid or otherwise provided until you have a “separation from service”
within the meaning of Section 409A. Similarly, no severance payable to you, if any, pursuant to this Letter that otherwise would
be exempt from Section 409A pursuant to Treasury Regulation Section 1.409A-1(b)(9) will be payable until you have a “separation
from service” within the meaning of Section 409A. For purposes of this Letter, “Section 409A” means Code Section
409A or any regulations or Treasury guidance promulgated thereunder (“Section 409A”).

 

		(b)	Notwithstanding any provision of this Letter to
the contrary, if you are a “specified employee” as determined by the Board of Directors of the Company or the Compensation
Committee in accordance with Section 409A, you shall not be entitled to any Deferred Payments until the earlier of (i) the date
which is six (6) months and one (1) day after her termination of employment for any reason other than death (except that during
such six (6) month period you may receive total payments from the Company that do not exceed the amount specified in Treas. Reg.
Section 1.409A-1(b)(9) or that constitute a short-term deferral within the meaning of Section 409A), or (ii) the date of her death.

 

		(c)	The foregoing provisions are intended to be exempt
from or comply with the requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder
will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted
to be exempt or so comply. If any provision of this Letter or of any award of compensation, including equity compensation or benefits
would cause you to incur any additional tax or interest under Section 409A, the parties agree to negotiate in good faith to reform
such provision in such manner as to maintain, to the maximum extent practicable, the original intent and economic terms of the
applicable provision without violating the provisions of Section 409A.

 

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		(d)	To the extent that reimbursements or in-kind benefits
under this Letter constitute non-exempt “nonqualified deferred compensation” for purposes of Section 409A, (1) all
reimbursements hereunder shall be made on or prior to the last day of the calendar year following the calendar year in which the
expense was incurred by you, (2) any right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange
for another benefit, and (3) the amount of expenses eligible for reimbursement or in-kind benefits provided in any calendar year
shall not in any way affect the expenses eligible for reimbursement or in-kind benefits to be provided, in any other calendar year.

 

		11.	GENERAL PROVISIONS: This letter does not represent
a guarantee of employment for any particular period. This letter and the Employment Materials contain all of the terms of your
employment with the TheStreet and supersede any prior understandings or agreements, whether written or oral, between you and Company. 
This Letter may not be amended or modified except by an express written agreement signed by you and TheStreet’s Vice President
of Human Resources (except that no amendment may change the at will nature of the employment unless in accordance with Paragraph
3).  The terms of this letter and the resolution of any disputes hereunder shall be governed by New York law, without reference
to principles of choice of law.

 

o O o

 

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We hope that you find the foregoing
terms acceptable. We are delighted to have you join TheStreet and look forward to a mutually beneficial working relationship. If
you have any questions, please do not hesitate to contact me at 212-321-5090.

 

Sincerely,

 
	/s/ Elisabeth DeMarse	 
	Elisabeth DeMarse	 
	Chief Executive Officer	 
	 	 
	ACCEPTED AND AGREED	 
	 	 
	/s/ John Ferrara	 
	John Ferrara	 

 

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NY 10005     T 212 321 5000     www.thestreet.com

    	 

    	

    

EXHIBIT A

 

Form of Stock Option Agreement (Nasdaq Inducement
Grant)

 

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THESTREET, INC. 

AGREEMENT FOR GRANT 

OF 

NON-QUALIFIED STOCK OPTION 

 

March ____, 2013

 

John C. Ferrara

 

Dear John:

 

This letter (the “Letter”)
sets forth the terms and conditions of the stock option (“Option”) hereby awarded to you by TheStreet,
Inc. (the “Company”).

 

This award is made outside of, and not from, the
Company’s 2007 Performance Incentive Plan (the “Plan”). Nevertheless, this award is subject to
the terms and conditions set forth in the Plan, any rules and regulations adopted by the Board of Directors of the Company (the
“Board”) or the committee of the Board which administers the Plan (the “Committee”),
and this Letter. The provisions of the Plan are hereby incorporated by reference and any term used in this Letter and not defined
herein shall have the meaning set forth in the Plan. Unless otherwise indicated, section references contained in this Letter shall
refer to the corresponding sections of this Letter. The Option shall be deemed to be a non-qualified stock option within the meaning
of the Internal Revenue Code of 1986, as amended. This award is intended to be granted as NASDAQ inducement grants qualifying for
the exception to stockholder approval of stock option grants under NASDAQ rule 5635(c)(4) and, therefore, as a condition to receipt
of the award, you must complete and execute the attached Investment Representation included herein as Attachment 1.

 

1.          Option Grant

 

You have been granted an Option to purchase 325,000
shares of the Company’s Common Stock (“Common Stock”) to the extent the Option is exercisable as
set forth below. The Option may not be sold, transferred, assigned, pledged or otherwise encumbered by you, in whole or in part;
provided that the foregoing shall not affect your right to name a beneficiary under Section 13 of the Plan. The Option may be exercised
only by you, except that in the event of your death, the Option may be exercised (at any time prior to its expiration or termination
as provided in Sections 8 and 11) by the executor or administrator of your estate or by a person who acquired the right to exercise
your Option by will or pursuant to the laws of descent and distribution. Until such time as stock certificates for the shares of
Common Stock represented by the purchase of all or portion of the Option have been delivered to you in accordance with Section
4, you shall have none of the rights of a stockholder with respect to the Common Stock with respect to such shares.

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2.          Option Exercise Price

 

The price at which you may purchase the shares of
Common Stock underlying the Option is $____ per share.

 

3.          Term of Option

 

Your Option shall expire, to the extent that it
has not previously terminated, on March ____, 2020. However, your Option may terminate prior to such expiration date as provided
in Sections 8 and 11. Regardless of the provisions of Sections 5 or 8 or any other provision hereof, in no event can your Option
be exercised after the expiration date set forth in this Section 3.

 

4.          Exercisability of Option

 

Your Option will become exercisable with respect
to the following number(s) of shares of Common Stock on the following date(s) as set forth below, provided that you are in the
Service (as defined below) of the Company or one of its subsidiaries on such date and the Option has not been terminated in accordance
with Sections 8 or 11:

 

	Date	 	Number of Shares of Common Stock 
	 	 	 
	March ____, 2014	 	
        81,250

         

	
        The [first] ([1]st) calendar day of each month between

April ____, 2014 and March ____, 2017, inclusive

         
	 	

         

        6,770

         

	March ____, 2017	 	
        6,800

        

 

For purposes hereof, you shall be considered to be in the “Service”
of the Company or one of its subsidiaries if you are an employee of, or otherwise providing services to, the Company (or one if
its subsidiaries, as applicable) on the applicable vesting date; provided that if you are not an employee of the Company or one
of its subsidiaries on the applicable vesting date, you are providing services to the Company or one of its subsidiaries on the
applicable vesting date pursuant to a written agreement signed by the Company or one of its subsidiaries that expressly agrees
that the vesting of the Option shall continue during such period of service.

 

To the extent that your Option has become exercisable
with respect to a number of shares of Common Stock, you may exercise the Option to purchase all or any portion of such shares of
Common Stock at any time on or before the date the Option expires or terminates; provided that you may only purchase a whole number
of shares of Common Stock.

 

5.          Accelerated Vesting in Certain Events

 

Notwithstanding Section 4, upon the occurrence of
any of the following events, the then-unvested portion of the Option shall become exercisable and may be exercised; provided that
such portion of the Option only may be exercised within ninety (90) calendar days from the

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 occurrence of such event (but in no
event beyond the date set forth in Section 3):  (i) the termination of your employment by the Company or any subsidiary thereof
without Cause (as defined below) or by you for Good Reason (as defined below) prior to a Change of Control (as defined in the Plan)
if such termination is related to the Change of Control; or (ii) a Change of Control, unless (A) either (x) the Company is the
surviving corporation in the Change of Control and the award reflected in this Letter is equitably adjusted pursuant to Section
4.4 of the Plan or (y) the award reflected in this Letter is assumed or replaced by a Successor (as defined below) and (B) the
award as so adjusted, assumed or replaced (x) has substantially the same potential economic benefits and vesting terms as did the
award immediately prior to the Change of Control and (y) provides that the award immediately shall become fully vested and exercisable
upon the termination of your employment (by the Company or any subsidiary thereof or by a Successor or any affiliate thereof) without
Cause or by you for Good Reason at any time (provided that such portion of the Option only may be exercised within ninety (90)
calendar days from such termination (but in no event beyond the date set forth in Section 3)).  If you are employed by a Successor
or any affiliate thereof following a Change of Control, references in this Letter to the Company shall be understood to be references
to the Successor or any such affiliate regarding matters related to the occurrence of non-occurrence of events from and after the
date you become employed by the Successor or such affiliate.

 

For purposes of this Letter,
“Cause” shall be determined by the Committee in the exercise of its good faith judgment, in accordance
with the following guidelines: (i) your willful misconduct or gross negligence in the performance of your obligations, duties
and responsibilities of your position with the Company (including those as an employee of the Company set forth in the
Company’s Code of Business Conduct and Ethics dated June 1, 2006, as same may be amended from time to time provided
such amendment affects all executive officers of the Company), (ii) your dishonesty or misappropriation, in either case that
is willful and material, relating to the Company or any of its funds, properties, or other assets, (iii) your inexcusable
repeated or prolonged absence from work (other than as a result of, or in connection with, a Disability), (iv) any
unauthorized disclosure by you of Confidential Information or proprietary information of the Company in violation of Section
12(d) which is reasonably likely to result in material harm to the Company, (v) your conviction of a felony (including entry
of a guilty or nolo contender plea) involving fraud, dishonesty, or moral turpitude, (vi) a violation of federal or state
securities laws, or (vii) the failure by you to attempt to perform faithfully the duties and responsibilities of your
position with the Company, or other material breach by you of this Letter, provided any such failure or breach described in
clauses (i), (ii), (iii), (iv), (vi) and (vii) is not cured, to the extent cure is possible, by you within thirty (30) days
after written notice thereof from the Company to you; provided, however, that no failure or breach described in clauses (i),
(ii), (iii), (iv), (vi) and (vii) shall constitute Cause unless (x) the Company first gives you written notice of its
intention to terminate your employment for Cause and the grounds of such termination no fewer than ten (10) days prior to the
date of termination; and (y) you are provided an opportunity to appear before the Board, with or without legal
representation at your election to present arguments on your own behalf; and (z) if you elect to so appear, such failure or
breach is not cured, to the extent cure is possible, within thirty (30) days after written notice from the Company to you
that, following such appearance, the Board has determined in good faith that Cause exists and has not, following the initial
notice from the Company, been cured; provided further, however, that notwithstanding anything to the contrary in this Letter
and

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 subject to the other terms of this proviso, the Company may take any and all actions, including without limitation
suspension (but not without pay), it deems appropriate with respect to you and your duties at the Company pending such
appearance and subsequent to such appearance during which such failure or breach has not been cured. No act or failure to act
on your part will be considered “willful” unless done, or omitted to be done, by you not in good faith and
without reasonable belief that your action or omission was in the best interests of the Company.

 

For purposes of this Letter, “Disability”
shall mean physical or mental incapacity of a nature which prevents you, in the good faith judgment of the Committee, from performing
your duties and responsibilities as Chief Financial Officer for a period of ninety (90) consecutive days or one hundred and fifty
(150) days during any year, with each year under this Letter commencing on each anniversary of the date hereof.

 

For purposes of this Letter, “Good Reason”
shall have the meaning ascribed to such term in Treasury Regulation Section 1.409A-1(n)(2)(ii), as determined in good faith by
the Committee.

 

6.          Manner of Exercise

 

You may exercise your Option by giving notice to
the Company (or to such service provider as the Company may designate), following such procedures as may be communicated to you
from time to time.

 

The shares of Common Stock represented by the exercise
of your Option may consist of authorized but unissued shares or treasury shares of the Company, as determined from time to time
by the Committee.

 

7.          Satisfaction of Option
Exercise Price

 

The Option may be exercised
by payment of the option exercise price in cash (including check, bank draft, money order, or wire transfer). In addition, your
Option may be exercised using such broker cashless exercise procedure or other procedure as the Company may establish from time
to time.

 

8.          Termination of Service

 

(a)          General. If your Service
terminates for any reason other than for Cause, the Option will terminate ninety (90) calendar days after such termination of Service.
Following the termination of your Service, no additional portions of the Option will become exercisable, and the Option will be
exercisable only to the extent exercisable on the date of such termination of Service. If your Service terminates for Cause, the
Option shall be immediately terminated and may not be exercised.

 

(b)          Adjustments by the Committee.
The Committee may, in its discretion, exercised before or after your termination of Service, declare all or any portion of the
Option immediately exercisable and/or permit all or any part of the Option to remain exercisable for such period 

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designated by
it after the time when the Option would have otherwise terminated as provided in Section 8(a), but not beyond the expiration date
of your Option as set forth in Section 3 above.

 

(c)          Committee Determinations.
The Committee shall have absolute discretion to determine the date and circumstances of the termination of your Service, and its
determination shall be final, conclusive and binding upon you.

 

9.           Restrictions on Option
Exercise; Delivery of Shares

 

(a)          Even though your Option
may be otherwise exercisable, your right to exercise the Option will be suspended if the Committee determines that your exercise
of the Option would violate applicable laws or regulations. The suspension will last until the exercise would be lawful. Any such
suspension will not extend the term of your Option.

 

(b)          Even though your Option
may be otherwise exercisable, the Committee may refuse to permit such exercise if it determines, in its discretion, that any of
the following circumstances is present:

 

		(i)	the shares of Common Stock to be acquired upon such exercise are required to be registered or qualified
under any federal or state securities law, or to be listed on any securities exchange or quotation system, and such registration,
qualification, or listing has not occurred;

 

		(ii)	the consent or approval of any government regulatory body is required and has not been obtained;

 

		(iii)	the satisfaction of withholding tax is required and has not occurred;

 

		(iv)	representations by you or other information is determined by counsel for the Company to be necessary
or desirable in order to comply with any federal or state securities laws or regulations, and you have not provided such representations
or information; or

 

		(v)	an agreement by you with respect to the disposition of shares of Common Stock to be acquired upon
exercise of your Option is determined by the Committee to be necessary or desirable in order to comply with any federal or state
securities laws or regulations, or is required by the terms of this Letter, and you have not executed such agreement.

 

(c)          Shares of Common Stock to be delivered to
you in connection with any exercise of the Option shall be delivered to you as soon as practicable and, at the Company’s
election, the Company may effect such delivery by causing such number of shares of Common Stock to be deposited via DWAC into a
brokerage account in your name. Common Stock delivered upon the exercise of the Option will be fully transferable (subject to any
applicable securities law restrictions) and not subject to forfeiture (other than as set forth in Section 11), and will entitle
the holder to all rights of a stockholder of the Company.

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(d)          The Company will use reasonable commercial
efforts to (i) file and cause to remain effective and current a Registration Statement on Form S-8 (or successor form) with the
Securities and Exchange Commission covering shares subject to the Option until such times as all of the shares of Common Stock
underlying your Option are either delivered hereunder or the Option has expired or been terminated pursuant to the terms of this
Letter, and (ii) until three (3) months after you cease being an “affiliate” of the Company, to maintain a resale prospectus
thereunder (or otherwise register under the Securities Act of 1933, as amended) the Common Stock underlying your Option.

 

10.          Income Tax Withholding

 

In connection with the exercise of your Option,
you will be required to pay, pursuant to such arrangements as the Company may establish from time to time, any applicable federal,
state and local withholding tax liability. If you fail to satisfy your withholding obligation in a time and manner satisfactory
to the Committee, the Company shall have the right to withhold the required amount from your salary or other amounts payable to
you.

 

11.          Additional Termination Events and Claw-Back

 

Notwithstanding anything else in this Letter, the
unexercised portion of the Option shall be terminated (regardless of the extent to which it is exercisable) if any one of the following
occurs: (i) you engage in Competitive Activity (as defined below) with the Company or any of its subsidiaries during your employment
by the Company or any of its subsidiaries or during the Non-Compete Period (as defined below); or (ii) you breach any of the Restrictive
Covenants set out in Section 12 (collectively, the “Restrictive Covenants”) within one (1) year after
the cessation of your employment with the Company or any subsidiary. For purposes of this Letter, the term “Non-Compete
Period” shall mean the six (6) month period immediately following your termination of service with the Company; provided,
however, that if your termination of service occurs during the period commencing fifteen (15) days prior to a Change of Control
(as defined in the Plan) and ending on the twelve (12) month anniversary of such Change of Control, the Non-Compete Period shall
be twelve (12) months.

 

The Company reserves the right (as provided below)
to claw-back shares of Common Stock delivered under this Letter pursuant to each exercise of the Option by you if you engage in
Competitive Activity during the Non-Compete Period or violate any of the Restrictive Covenants within one (1) year after the delivery
of such shares of Common Stock. If the Committee determines, in its good faith discretion, that all or some portion of the shares
of Common Stock delivered to you will be clawed-back, then you shall be required to repay to the Company the Repayment Amount (as
defined below) with respect to such shares of Common Stock. You may satisfy the payment obligation set forth in the preceding sentence
by paying the Company cash, by delivering to the Company shares of Common Stock, or by remitting to the Company a combination of
cash and shares of Common Stock, such that the Fair Market Value (measured as of the day before your delivery to the Company of
shares of Common Stock) of any shares of Common Stock you deliver to the Company, plus the amount of any cash you pay to the Company,
equals the Repayment Amount. The “Repayment Amount” with respect to the shares of Common Stock delivered
to you upon any exercise of the Option shall mean the lesser of the 

    	13

    	

    
Exercise Date Spread Value (as defined below) with respect
to such exercise of the Option and the Delivery Date Spread Value (as defined below) with respect to such exercise of the Option,
in each case reduced by the amount of taxes paid by you with respect to such exercise of the Option; provided that neither the
Exercise Date Spread Value nor the Delivery Date Spread Value shall be less than zero. With respect to each exercise you made of
the Option, the “Exercise Date Spread Value” is the amount, if any, by which the Fair Market Value (measured
as of the date of exercise) of the number of shares of Common Stock underlying the Option with respect to which the Option was
exercised on such date, exceeded the aggregate option exercise price for such shares. With respect to each exercise you made of
the Option, the “Delivery Date Spread Value” is the amount, if any, by which the Fair Market Value (measured
as of the day before you remit the Repayment Amount to the Company) of the number of shares of Common Stock underlying the Option
with respect to which the Option was exercised, exceeded the aggregate option exercise price for such shares. In addition to any
other remedy available to the Company under applicable law, the Company shall have the right to offset any other amounts payable
to you by the amount of any required repayment by you which has not been repaid.

 

For purposes of this Letter, “Competitive
Activity” means your service as a director, officer, employee, principal, agent, stockholder, member, owner or partner
of, or you permit your name to be used in connection with the activities of, any other business or organization anywhere in the
United States, or in any other geographic area in which the Company or any of its subsidiaries operates or with respect to which
the Company provides financial news and commentary coverage (or from which such other business or organization provides financial
news and commentary coverage of the United States), which engages in a business that competes with any business in which the Company
or any subsidiary is engaged (a “Competing Business”); provided, however, that, notwithstanding the foregoing,
it shall not be a Competitive Activity for you to (i) become the registered or beneficial owner of up to three percent (3%) of
any class of capital stock of a competing corporation registered under the Securities Exchange Act of 1934, as amended, provided
that you do not otherwise participate in the business of such corporation or (ii) work in a non-competitive business of a company
which is carrying on a Competing Business, the revenues of which represent less than twenty percent (20%) of the consolidated revenues
of that company, or, as a result thereof, owning compensatory equity in that company.

 

For purposes of this Letter,
“Fair Market Value” of a share of Common Stock on any date shall be (i) if the principal market for
the Common Stock is a national securities exchange, the closing sales price per share of the Common Stock on such day (or, if
such exchange is not open on such day, on the next day such exchange is open) as reported by such exchange or on a
consolidated tape reflecting transactions on such exchange, or (ii) if the principal market for the Common Stock is not a
national securities exchange, the closing average of the highest bid and lowest asked prices per share of Common Stock on
such day (or, if such exchange is not open on such day, on the next day such exchange is open) as reported by the market upon
which the Common Stock is quoted, or an independent dealer in the Common Stock, as determined by the Company in good faith;
provided, however, that if clauses (i) and (ii) are all inapplicable, or if no trades have been made and no quotes are
available for such day, the Fair Market Value of the Common Stock shall be determined by the Committee in good faith by any
method consistent 

    	14

    	

    
with applicable regulations adopted by the United States Treasury Department relating to stock options or
stock valuation.

 

12.          Restrictive Covenants

 

		a.	Non-Solicitation of Employees

 

You agree that, during your employment by the Company or
any subsidiary and through the end of one (1) year after the cessation of your employment with the Company or any subsidiary, you
will not solicit for employment or hire, in any business enterprise or activity, any employee of the Company or any subsidiary
who was employed by the Company or a subsidiary during your period of employment by the Company or a subsidiary provided that (a)
the foregoing shall not be violated by any general advertising not targeted at any Company or subsidiary employees nor by you serving
as a reference upon request, and (b) you may solicit and hire any one or more former employees of the Company or its subsidiaries
who had ceased being such an employee for a period of at least six (6) months prior to any such solicitation or hiring.

 

		b.	Non-Solicitation of Clients and Vendors

 

You agree that, during your employment by the Company or any subsidiary and through the end of one (1) year after the cessation
of your employment with the Company or any subsidiary, you will not solicit, in any business enterprise or activity, any client,
customer, licensee, licensor, third-party service provider or vendor (a “Business Relation”) of the Company
or any subsidiary who was a Business Relation of the Company or any subsidiary during your period of employment by the Company
or any subsidiary to (i) cease being a Business Relation of the Company or any subsidiary or (ii) become a Business Relation of
a Competing Business unless (without you having solicited such third party to cease such relationship) such third party ceased
being a Business Relation of the Company or any subsidiary for a period of at least six (6) months prior to such solicitation.

 

		c.	Non-Disparagement

 

During your employment by the Company or any subsidiary and
indefinitely thereafter, neither party shall make any statements, written or oral, to any third party which disparage, criticize,
discredit or otherwise operate to the detriment of you or the Company, its present or former officers, shareholders, directors
and employees and their respective business reputation and/or goodwill, provided, however, that nothing in this Section 12(c) shall
prohibit either party from (i) making any truthful statements or disclosures required by applicable law regulation or (ii) taking
any action to enforce its rights under this Letter or any other agreement in effect between the parties.

    	15

    	

    

		d.	Confidentiality

 

	

	1)	During your employment by the Company or any subsidiary and
    indefinitely thereafter, you shall keep secret and retain in strictest confidence, any and all Confidential Information
    relating to the Company, except where your disclosure or use of such Confidential Information is in furtherance of the
    performance by you of your duties to the Company and not for personal benefit or the benefit of any interest adverse to the
    Company’s interests. For purposes of this Letter, “Confidential Information” shall mean any
    information including without limitation plans, specifications, models, samples, data, customer lists and customer
    information, computer programs and documentation, and other technical and/or business information, in whatever form, tangible
    or intangible, that can be communicated by whatever means available at such time, that relates to the Company’s current
    business or future business contemplated during your employment, products, services and development, or information received
    from others that the Company is obligated to treat as confidential or proprietary (provided that such confidential
    information shall not include any information that (a) has become generally available to the public or is generally known in
    the relevant trade or industry other than as a result of an improper disclosure by you, or (b) was available to or became
    known to you prior to the disclosure of such information on a non-confidential basis without breach of any duty of
    confidentiality to the Company), and you shall not disclose such confidential information to any Person (as defined below)
    other than the Company, except with the prior written consent of the Company, as may be required by law or court or
    administrative order (in which event you shall so notify the Company as promptly as practicable), or in performance of your
    duties on behalf of the Company. Further, this Section 12(d) shall not prevent you from disclosing Confidential Information
    in connection with any litigation, arbitration or mediation to enforce this Letter or other agreement between the parties,
    provided such disclosure is necessary for you to assert any claim or defense in such proceeding.
 
 For
    purposes of this Letter, “Person” shall mean an individual, corporation, partnership, limited
    liability company, limited liability partnership, association, trust or other unincorporated organization or
    entity.

 

		2)	Upon your termination of employment for any reason, you shall return to the
Company all copies, reproductions and summaries of Confidential Information in your possession and use reasonable efforts to erase
the same from all media in your possession, and, if the Company so requests, shall certify in writing that you have done so, except
that you may retain such copies, reproductions and summaries during any period of litigation, arbitration or mediation referred
to in Section 12(d)(1). All Confidential Information is and shall remain the property of the Company (or, in the case of information
that the Company receives from a third party which it is obligated to treat as confidential, then the property of such third party);
provided, you shall be entitled to retain copies of (i) information 

    	16

    	

    
	 	 	showing your compensation or relating to reimbursement of expenses,
(ii) information that is required for the preparation of your personal income tax return, (iii) documents provided to you in your
capacity as a participant in any employee benefit plan, policy or program of the Company and (iv) this Letter and any other agreement
by and between you and the Company with regard to your employment or termination thereof.

 

		3)	All Intellectual Property (as hereinafter defined) and Technology (as hereinafter
defined) created, developed, obtained or conceived of by you during your employment, and all business opportunities presented to
you during your employment, shall be owned by and belong exclusively to the Company, provided that they reasonably relate to any
of the business of the Company on the date of such creation, development, obtaining or conception, and you shall (i) promptly disclose
any such Intellectual Property, Technology or business opportunity to the Company, and (ii) execute and deliver to the Company,
without additional compensation, such instruments as the Company may require from time to time to evidence its ownership of any
such Intellectual Property, Technology or business opportunity. For purposes of this Letter, (x) the term “Intellectual
Property” means and includes any and all trademarks, trade names, service marks, service names, patents, copyrights,
and applications therefor, and (y) the term “Technology” means and includes any and all trade secrets,
proprietary information, invention, discoveries, know-how, formulae, processes and procedures.

 

The parties acknowledge that the restrictions contained
in this Section 12 are a reasonable and necessary protection of the immediate interests of the Company, and any violation of these
restrictions could cause substantial injury to the Company and that the Company would not have entered into this Letter, without
receiving the additional consideration offered by you in binding yourself to any of these restrictions. In the event of a breach
or threatened breach by you of any of these restrictions, the Company shall be entitled to apply to any court of competent jurisdiction
for an injunction restraining you from such breach or threatened breach; provided, however, that the right to apply for an injunction
shall not be construed as prohibiting the Company from pursuing any other available remedies for such breach or threatened breach.

 

13.          No Guarantee of Continuation of Service

 

This grant of this Option does not constitute an
assurance of continued Service for any period or in any way interfere with the Company’s right to terminate your Service.

 

14.          Administration

 

The Committee has the sole power to exercise its
good faith judgment to interpret the Plan and this Letter and to act upon all matters relating this grant to the extent provided
in the Plan and not inconsistent with the terms of this Letter. Any decision, determination, interpretation, or other action taken
pursuant to the provisions of the Plan and this Letter by the Committee shall be final, binding, and conclusive.

    	17

    	

    

15.          Section 409A

 

Notwithstanding anything to the contrary in the
Plan or this Letter to the contrary, no benefits to be paid or provided to you, if any, pursuant to this Letter that, when considered
together with any other severance payments or separation benefits, are considered deferred compensation not exempt under Section
409A (together, the “Deferred Payments”) will be paid or otherwise provided until you have a “separation from
service” within the meaning of Section 409A. For purposes of this Letter, “Section 409A” means Section 409A of
the Internal Revenue Code of 1986, as amended or any regulations or Treasury guidance promulgated thereunder (“Section
409A”).

 

Notwithstanding any provision of the Plan or this
grant to the contrary, if you are a “specified employee” as determined by the Board or the Committee, in accordance
with Section 409A, you shall not be entitled to any Deferred Payments until the earlier of (i) the date which is six (6) months
and one (1) day after your termination of employment for any reason other than death (except that during such six (6) month period
you may receive total payments from the Company that do not exceed the amount specified in Treas. Reg. Section 1.409A-1(b)(9) or
that constitute a short-term deferral within the meaning of Section 409A), or (ii) the date of your death.

 

Notwithstanding any provision of the Plan or this
Letter to the contrary, to the extent any compensation or award which constitutes deferred compensation within the meaning of Section
409A shall vest upon the occurrence of a Change of Control and such Change of Control does not constitute a “change in the
ownership or effective control” or a “change in the ownership of a substantial portion of the assets” of the
Company within the meaning of Section 409A, then notwithstanding such vesting, payment will be made to you on the earliest
of (i) your “separation from service” with the Company (determined in accordance with Section 409A) or, if
you are a specified employee within the meaning of Section 409A, such later date as provided in the preceding paragraph, (ii) the
date payment otherwise would have been made, or (iii) the date of your death.

 

This Option is intended to be exempt from or comply
with the requirements of Section 409A so that none of the benefits to be provided hereunder will be subject to the additional tax
imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be exempt or so comply. If any
provision of this Letter or of any award of compensation, including equity compensation or benefits would cause you to incur any
additional tax or interest under Section 409A, the parties agree to negotiate in good faith to reform such provision in such manner
as to maintain, to the maximum extent practicable, the original intent and economic terms of the applicable provision without violating
the provisions of Section 409A.

 

16.          Amendment

 

The Committee may from time to time amend the terms
of this grant in accordance with the terms of the Plan in effect at the time of such amendment, but no amendment which is unfavorable
to you can be made without your written consent.

    	18

    	

    

The Plan is of unlimited duration, but may be amended,
terminated or discontinued by the Board of Directors of the Company at any time. However, no amendment, termination or discontinuance
of the Plan will unfavorably affect this grant.

 

Notwithstanding the foregoing, the Committee expressly
reserves the right to amend the terms of the Plan and this grant with your consent which shall not be unreasonably withheld
to the extent it determines that such amendment is necessary or desirable for an exemption from or compliance with the distribution,
acceleration and election requirements of Section 409A of the Code. 

 

17.          Notices

 

Unless otherwise provided herein, any notice, exercise
of rights or other communication required or permitted to be given hereunder shall be in writing and shall be given by overnight
delivery service such as Federal Express or personal delivery against receipt, or mailed by registered or certified mail (return
receipt requested), to the party to whom it is given at, in the case of the Company, Compensation Committee Chair, TheStreet, Inc.,
14 Wall Street, 15th Floor, New York, NY 10005, or, in the case of you, at your principal residence address as then
reflected on the records of the Company or such other address as such party may hereafter specify by notice to the other party
hereto. Any notice or other communication shall be deemed to have been given as of the date so personally delivered or transmitted
by telecopy or like transmission or on the next business day after sent by overnight delivery service for next business day delivery
or on the fifth business day after sent by registered or certified mail.

 

18.          Representations

 

The Company hereby represents and warrants that
the execution and delivery of this Letter and the performance by the Company of its obligations hereunder have been duly authorized
by all necessary corporate action of the Company.

 

19.          Amendment

 

This Letter may be amended only by a written agreement
signed by the parties hereto.

 

20.          Binding Effect

 

This Letter shall be binding upon and inure to the
benefit of the Company and any Successor. As used herein, a “Successor” shall mean any successor organization
that succeeds to the Company (or to any direct or indirect successor) by merger or consolidation or operation of law, or by acquisition
of all or substantially all of the assets of the Company (or of any direct or indirect successor).

    	19

    	

    

21.          Governing Law

 

This Letter shall be governed by and construed in
accordance with the internal laws of the State of New York applicable to contracts to be performed wholly within the state and
without regard to its conflict of laws provisions that would defer to the laws of another jurisdiction, except to the extent the
laws of the State of Delaware mandatorily govern.

 

22.          Severability

 

If any provision of this Letter shall for any reason
be held invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof shall not
be affected or impaired thereby. Moreover, if any one or more of the provisions of this Letter shall be held to be excessively
broad as to duration, activity or subject, such provisions shall be construed by limiting and reducing them so as to be enforceable
to the maximum extent allowable by applicable law. To the extent permitted by applicable law, each party hereto waives any provision
of law that renders any provision of this Letter invalid, illegal or unenforceable in any way.

 

23.          Execution in Counterparts

 

This Letter may be executed in one or more counterparts,
each of which shall be deemed to be an original and all of which shall constitute one and the same instrument.

 

24.          Entire Agreement

 

This Letter sets forth the entire agreement, and
supersedes all prior agreements and understandings, both written and oral, between the parties with respect to the subject matter
hereof and thereof.

 

25.          Titles and Headings

 

Titles and headings to Sections herein are for purposes
of reference only, and shall in no way limit, define or otherwise affect the meaning or interpretation of any of the provisions
of this Letter.

 

26.          Consent to Jurisdiction

 

The parties hereto each hereby irrevocably submit
to the exclusive jurisdiction of any New York State or Federal court sitting in the Borough of Manhattan, City of New York in any
action or proceeding to enforce the provisions of this Letter, and waives the defense of inconvenient forum to the maintenance
of any such action or proceeding.

    	20

    	

    

This Letter contains the formal terms and conditions
of your award and accordingly should be retained in your files for future reference. The Company may require you to provide evidence
of your acknowledgment of this Letter using such means of notification as may be communicated to you by the Company or its service
provider.

 

	 	Very truly yours, 
	 	 
	 	THESTREET, INC.
	 	 
	 	 
	 	By: 	 
	 	Name: Elisabeth DeMarse

Title: President and Chief Executive Officer

 

AGREED TO AND ACCEPTED:

 

	 	 	 
	John C. Ferrara
	 	 

    	21

    	

    

ATTACHMENT 1

 

INVESTMENT REPRESENTATIONS

 

In connection with the grant to you of the Option,
you represent and warrant as follows by signing below at the bottom of this Exhibit A:

 

(i)                  
By checking one or more of the boxes as follows, that you are an “accredited investor”
as defined in Regulation D promulgated under the Securities Act of 1933, as amended (the “Act”):

 

___ a. A natural
person with an individual net worth, or joint net worth with a spouse, in excess of $1,000,000 (excluding the value of the primary
residence of such individual).

 

___ b. A natural
person (i) who has had an individual income in excess of $200,000 in each of the past two years or a joint income with a spouse
in excess of $300,000 in those two years and (ii) who reasonably expects to reach the same income level in the current year.

 

___ c. A director
or executive officer of the Company.

 

(ii)                
You possess such knowledge and experience in finance, securities, investments and other business
matters as to be able to protect your interests in connection with the potential investment in the Company, and this potential
investment is not material when compared to your total financial capacity. You have adequate means for providing for your current
needs and possible contingencies, have no need for liquidity regarding this potential investment, and have no reason to expect
a change in your circumstances, financial or other, that may cause or require sale of this potential investment.

 

(iii)               
You understand the many risks of an investment in the Company and can afford to bear such
risks, including, but not limited to, the risk of losing your entire investment.

 

(iv)              
You would be acquiring the securities to be offered under the Option for your own account
for investment and not with a view to the sale or distribution thereof or the granting of any participation therein, and you have
no present intention of distributing or selling to others any of such securities or granting any participation therein. You have
no agreement or other arrangement, formal or informal, with any person to sell, transfer, pledge or otherwise dispose of any of
such securities that would guarantee to you any profit, or protect you against loss, regarding such securities, and you have no
plans to enter into any such agreement or arrangement.

 

 _______                Yes, I am an accredited investor as defined in Section (i) and I can also make the representations in sections (ii), (iii), and (iv).

 _______                No, I am not an accredited investor as defined in Section (i) and/or I cannot also make the representations in sections (ii), (iii), and (iv).

    	22

    	

    

	OPTIONEE

	 	COMPANY.

	 	 	 	 	 	 
	 	 	By: 	 
	(Signature) 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	Name:	 
	John C. Ferrara	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	Dated: 	 	 	Title:	 
	 	 	 	 	 	 

    	23ex10_13.htm

Exhibit 10.13

SEVENTH AMENDMENT TO THE

INDIVIDUAL ACCOUNT RETIREMENT PLAN

FOR

BARGAINING UNIT EMPLOYEES

AT THE CAMERON INTERNATIONAL CORPORATION

BUFFALO, NEW YORK PLANT

(As Amended and Restated Effective as of January 1, 2008)

 

WHEREAS, CAMERON INTERNATIONAL CORPORATION (the “Company”) has heretofore adopted the INDIVIDUAL ACCOUNT RETIREMENT PLAN FOR  BARGAINING UNIT EMPLOYEES AT THE CAMERON INTERNATIONAL CORPORATION BUFFALO, NEW YORK PLANT, as amended and restated effective as of January 1, 2008 (the “Plan”) for the benefit of its eligible employees;

 

WHEREAS, the Company desires to amend the Plan to conform to reflect the applicable provisions of the collective bargaining agreement between the Company and the International Association of Machinists and Aerospace Workers, Local Lodge No. 330, District No. 65;

 

NOW, THEREFORE, the Plan is hereby amended as follows:

 

	
I. 

	
Effective as of August 6, 2012:

 

1.             The table containing Contribution Rates in Section 3.02 of the Plan shall be deleted and the following shall be substituted therefor:

 

	
“Effective Date of Contribution Rate

	 	
Contribution Rate

	 
	 	 	 	 
	
On and after July 30, 2007 but before 

August 2, 2010

	 	$	1.20	 
	 	 	 	 	 
	
On and after August 2, 2010 but before 

August 1, 2011

	 	$	1.30	 
	 	 	 	 	 
	
On and after August 1, 2011 but before 

August 6, 2012

	 	$	1.35	 
	 	 	 	 	 
	
On and after August 6, 2012 but before 

August 6, 2013

	 	$	1.50	 
	 	 	 	 	 
	
On and after August 6, 2013 but before 

August 6, 2014

	 	$	1.65	 
	 	 	 	 	 
	
On and after August 6, 2014

	 	$	1.80”	 

 

  

  

  

 

2.             A new Article XVIII shall be added to the Plan as follows:

 

“ARTICLE XVIII

 

LOANS

 

18.01         Eligibility for Loan.  Upon application by (1) any Member who (a) is on the United States payroll of the Employer , (b) has been actively employed by a Controlled Entity for a period of at least one year and (c) is receiving compensation other than severance pay from a Controlled Entity, or (2) any Member (x) who is a party-in-interest, as that term is defined in section 3(14) of ERISA, as to the Plan, (y) who is no longer employed by the Employer, who is a beneficiary of a deceased Member, or who is an alternate payee under a qualified domestic relations order, as that term is defined in section 414(p)(8) of the Code, and (z) who retains a balance in his Account attributable to Tax Deferred Savings Contributions or Rollover Contributions under the Plan (an individual who is eligible to apply for a loan under this Article being hereinafter referred to as a ‘Member’), the Company may in its discretion direct the Funding Agent to make a loan or loans to such Member provided that such Member has not had an outstanding loan from the Plan for at least six months and provided further that a loan from the Plan to such Member is not prohibited by applicable law.  Such loans shall be made pursuant to the provisions of the Company’s written loan procedure, which procedure is hereby incorporated by reference as a part of the Plan.

 

18.02         Maximum Loan.

 

(a)              A loan to a Member may not exceed 50% of the nonforfeitable balance of such Member’s Account attributable to Tax Deferred Savings Contributions or Rollover Contributions.

 

(b)              Paragraph (a) above to the contrary notwithstanding, the amount of a loan made to a Member under this Article shall not exceed an amount equal to the difference between:

 

(i)         The lesser of $50,000 (reduced by the excess, if any, of (A) the highest outstanding balance of loans from the Plan during the one-year period ending on the day before the date on which the loan is made over (B) the outstanding balance of loans from the Plan on the date on which the loan is made) or one-half of the present value of the Member’s total nonforfeitable accrued benefit under all qualified plans of the Employer or a Controlled Entity; minus

 

  

  

  

 

(ii)        The total outstanding loan balance of the Member under all other loans from all qualified plans of the Employer or a Controlled Entity.

 

(c)               A Member may only pledge the portion of his Account attributable to Tax Deferred Savings Contributions or Rollover Contributions as security for a loan pursuant to this Article.”

 

	
II. 

	
As amended hereby, the Plan is specifically ratified and reaffirmed.

 

EXECUTED, this 29th day of August, 2012, effective for all purposes as provided above.

 

	  	
CAMERON INTERNATIONAL CORPORATION

	  	  	  	  
	  	
By:

	
/s/  Roslyn R. Larkey

	  
	  	
Name:

	
Roslyn R. Larkey

	  
	  	
Title:

	
Vice President, Human Resources

	  

 

  

  

  

 

EIGHTH AMENDMENT TO THE

INDIVIDUAL ACCOUNT RETIREMENT PLAN

FOR

BARGAINING UNIT EMPLOYEES

AT THE CAMERON INTERNATIONAL CORPORATION

BUFFALO, NEW YORK PLANT

(As Amended and Restated Effective as of January 1, 2008)

 

WHEREAS, CAMERON INTERNATIONAL CORPORATION (the “Company”) has heretofore adopted the INDIVIDUAL ACCOUNT RETIREMENT PLAN FOR  BARGAINING UNIT EMPLOYEES AT THE CAMERON INTERNATIONAL CORPORATION BUFFALO, NEW YORK PLANT, as amended and restated effective as of January 1, 2008 (the “Plan”) for the benefit of its eligible employees;

 

WHEREAS, the Company desires to amend the Plan to reflect the applicable provisions of the collective bargaining agreement between the Company and the International Association of Machinists and Aerospace Workers, Local Lodge No. 330, District No. 65;

 

NOW, THEREFORE, the Plan is hereby amended as follows:

 

	
III. 

	
Effective as of August 6, 2012:

 

	 	
1. 

	
Section 15.01(b) of the Plan is hereby amended to read as follows:

 

“(b)           A Member who has made no Tax Deferred Savings Contributions to the Plan, and who terminates employment and subsequently recommences participation in the Plan, shall be reinstated with the years of Vesting Service with which he was credited prior to his termination of employment, if (i) the number of his consecutive One-Year Breaks-In-Service is less than five, or (ii) he had a Vested Interest at the time of such termination.  A Member who has made Tax Deferred Savings Contributions to the Plan shall be reinstated with the years of Vesting Service with which he was credited prior to his termination of employment if he subsequently recommences participation in the Plan.”

 

	
IV. 

	
As amended hereby, the Plan is specifically ratified and reaffirmed.

 

  

  

  

 

EXECUTED, this 1st day of October, 2012, effective for all purposes as provided above.

 

	  	
CAMERON INTERNATIONAL CORPORATION

	  	  	  	  
	  	
By:

	
/s/ Roslyn R. Larkey

	  
	  	
Name:

	
Roslyn R. Larkey

	  
	  	
Title:

	
Vice President, Human Resources

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