Document:

Unassociated Document

    
      

    

    Exhibit
      10.2

    

    

    Angelica
      Letterhead

    

    HAND
      DELIVERED

    

    September
      19,
      2006

    

    

    James
      R.
      Henderson

    (Address)

    

    Dear
      Jim:

    

    As
      you know, it was agreed that in order to avoid possible complications under
      the
      Settlement Agreement, your retainer fees and other Director compensation will
      be
      paid in the form of cash rather than shares of Angelica stock.

    

    In
      that regard, enclosed is a check, in the amount of $7,032.00, representing
      the
      cash equivalent of the initial 400 share grant which each new director receives
      at the time he joins the Board. This amount is based upon the market share
      price
      ($17.58) on August 30, 2006, the date your appointment to the Board became
      effective.

    

    Your
      annual
      retainer fees will also be paid in cash. The basic annual retainer is presently
      $20,000 and is normally paid in May in the form of shares. When a Director
      joins
      the Board during the year, he receives a pro-rated portion of the annual
      retainer. If a Director leaves the Board within 10 months of the annual retainer
      date, a pro-rated portion of the retainer amount is subject to forfeiture.
      Since
      you joined the Board three months into the year, you will receive 75% of the
      annual retainer fee, or $15,000. As agreed, this will be paid in three equal
      installments at the end of November ’06, February ’07 and May ’07. Naturally,
      should you leave the Board prior to the next retainer date a pro-rated portion
      of this amount will be subject to forfeiture.

    

    If
      you have any questions, please feel free to call me. Otherwise, we would ask
      that you sign and return the enclosed copy of this letter acknowledging receipt
      and acceptance of the above.

    

    Very
      truly
      yours,

    

    /s/
      Steve
      Frey

    

    

    

    RECEIVED
      AND
      ACCEPTED

    

    /s/
      James R.
      Henderson          

    James
      R.
      Henderson

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Angelica
      Letterhead

    

    HAND
      DELIVERED

    

    September
      19,
      2006

    

    

    John
      J.
      Quicke

    (Address)

    

    Dear
      John:

    

    As
      you know, it was agreed that in order to avoid possible complications under
      the
      Settlement Agreement, your retainer fees and other Director compensation will
      be
      paid in the form of cash rather than shares of Angelica stock.

    

    In
      that regard, enclosed is a check, in the amount of $7,032.00, representing
      the
      cash equivalent of the initial 400 share grant which each new director receives
      at the time he joins the Board. This amount is based upon the market share
      price
      ($17.58) on August 30, 2006, the date your appointment to the Board became
      effective.

    

    Your
      annual
      retainer fees will also be paid in cash. The basic annual retainer is presently
      $20,000 and is normally paid in May in the form of shares. When a Director
      joins
      the Board during the year, he receives a pro-rated portion of the annual
      retainer. If a Director leaves the Board within 10 months of the annual retainer
      date, a pro-rated portion of the retainer amount is subject to forfeiture.
      Since
      you joined the Board three months into the year, you will receive 75% of the
      annual retainer fee, or $15,000. As agreed, this will be paid in three equal
      installments at the end of November ’06, February ’07 and May ’07. Naturally,
      should you leave the Board prior to the next retainer date a pro-rated portion
      of this amount will be subject to forfeiture.

    

    If
      you have any questions, please feel free to call me. Otherwise, we would ask
      that you sign and return the enclosed copy of this letter acknowledging receipt
      and acceptance of the above.

    

    Very
      truly
      yours,

    

    /s/
      Steve
      Frey

    

    

    

    RECEIVED
      AND
      ACCEPTED

    

    /s/
      John J.
      Quicke                
  

    John
      J.
      QuickeUnassociated Document

    
      

    

     

    Exhibit
      10.3

    ANGELICA
      CORPORATION

    1999
      PERFORMANCE PLAN

    RESTRICTED
      STOCK AGREEMENT

    (Special
      Ten Year Retention Grant)

    

    This
      Restricted Stock Agreement (this “Agreement”) is made and entered into as of
      _______________by and between Angelica Corporation, a Missouri corporation
      (the
“Company”) and ______________ (“Employee”).

    

    WHEREAS,
      Employee has been designated a participant in the Company’s Special 2006
      Long-Term Incentive Program; and

    

    WHEREAS,
      in consideration of the foregoing, the Board of Directors of the Company desires
      to award restricted shares of the Company’s common stock, $1.00 par value (the
“Common Stock”), to Employee under and in accordance with the terms of the
      Company’s 1999 Performance Plan (“Plan”), and Employee desires to receive such
      shares on the terms and conditions, and subject to the restrictions, herein
      set
      forth; and

    

    NOW,
      THEREFORE, in consideration of the terms and conditions herein contained and
      for
      other good and valuable consideration, the receipt and sufficiency of which
      is
      hereby acknowledged by each of the parties hereto, the parties hereby agree
      as
      follows:

    

    Section
      1. Definitions.

    

    As
      used
      in this Agreement, the following terms shall have the following
      meanings:

    

    
      	 	
              A.

            	
              “Award”
                means the award provided for in Section
                2.

            

    

    

    
      	 	
              B.

            	
              “Board
                of Directors” means the Board of Directors of the
                Company.

            

    

     

    
      	 	
              C.

            	
              “Cause”
                means (i) Employee’s willful and continued failure to substantially
                perform his duties and responsibilities with the Company (other than
                as a
                result of incapacity due to a physical or mental condition), after
                a
                written demand for substantial performance is delivered by the Company
                to
                Employee in which there is a specific identification of the manner
                in
                which Employee is not substantially performing his duties and
                responsibilities; (ii) Employee’s commission of an act constituting a
                criminal offense involving moral turpitude, dishonesty or breach
                of trust;
                or (iii) Employee’s material breach of the terms of any employment
                agreement between Employee and the
                Company.

            

    

    

    
      	 	
              D.

            	
              “Date
                of Award” means
                _____________________.

            

    

    

    
      	 	
              E.

            	
              “Disability”
                means that Employee has been unable to perform the duties and
                responsibilities then required of him on a full-time basis for a
                period of
                180 consecutive business days by reason of physical or mental condition.
                Disability

            

    

    

    
      
        
           

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    shall
      be
      deemed to exist when certified by a physician or physicians selected by the
      Company who are acceptable to Employee or Employee’s legal representative, such
      agreement as to acceptability not to be unreasonably withheld.

    

    
      	 	
              F.

            	
              “Performance
                Goal” means earnings per share by the Company of $1.67 or more for any
                one
                full fiscal year during the Performance
                Period

            

    

    

    
      	 	
              G.

            	
              “Performance
                Period” means the period of ten (10) consecutive fiscal years of the
                Company, commencing January 28, 2007 (i.e. commencing with the Company’s
                Fiscal Year 2007).

            

    

    

    
      	 	
              H.

            	
              “Period
                of Restriction” means with respect to the Restricted Shares, the period of
                time between the Date of Award and the earlier of either: (i) the
                date
                that the Restrictions lapse in whole or in part as set forth in Section
                3(b), 3(c) or 5 of this Agreement ; or (ii) the date the Restricted
                Shares
                are forfeited in whole or in part, as set forth in Section 4(a) or
                4(b) of
                this Agreement.

            

    

    

    
      	 	
              I.

            	
              “Restricted
                Shares” means the shares of the Company’s common stock being granted
                pursuant to Section 2 of this Agreement, as well as any additional
                shares
                of common stock or other securities that may be issued after the
                date of
                the initial grant pursuant to Section 9 of this Agreement.
                

            

    

    

    
      	 	
              J.

            	
              “Restrictions”
                mean the restrictions on the Restricted Shares as provided for in
                Section
                6 of this Agreement.

            

    

    

    Section
      2. Award.
      Subject
      to the terms of this Agreement and the Company’s 1999 Performance Plan,
      effective as of the Date of Award, the Company awards to Employee an aggregate
      of ______________ (______) Restricted Shares.

    

    Section
      3. Vesting
      of Restricted Shares. Subject
      to the terms and conditions of this Agreement, and for so long as Employee
      remains an employee of the Company, the Restricted Shares shall vest, and the
      Restrictions upon such Restricted Shares shall lapse, all in accordance with
      the
      following:

    

    
      	 	
              (a)

            	
              During
                the Performance Period, ten percent (10%) of the total Restricted
                Share
                Award shall become eligible to vest upon each annual anniversary
                of the
                Date of Award (but shall not actually vest pending achievement of
                the
                Performance Goal pursuant to Section 3(b)
                below).

            

    

    

    
      	 	
              (b)

            	
              Upon
                the Company achieving the Performance Goal, all Restricted Shares
                that
                have become eligible to vest pursuant to Section 3(a) above shall,
                thereupon, immediately vest, and all Restrictions as to such vested
                Restricted Shares shall immediately
                lapse.

            

    

    

    
      
        
           

          
          

        

        
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            2
            -

          
            

          

        

        
          
          

        

      

    

    
      
        	 	
                (c)

              	
                
                  After
                    the Company has achieved the Performance Goal, and in addition
                    to those
                    Restricted Shares that have vested pursuant to Section 3(b) above,
                    an
                    additional ten percent (10%) of the total Restricted Share Award
                    shall
                    vest upon each subsequent annual anniversary of the Date of Award
                    during
                    the remainder of the Performance Period, and all Restrictions
                    as to such
                    additional Restricted Shares shall immediately lapse at the time
                    they
                    vest. 

                

              

      

    

     

    Section
      4. Forfeiture
      of Restricted Shares. 

    

    
      	 	
              (a)

            	
              If,
                during the Performance Period, Employee shall cease to be employed
                by the
                Company
                due to a termination by the Company for Cause or termination by
                Employee
                for any reason other than death, Disability or retirement on or after
                attaining
                age 65, Employee shall immediately forfeit to the Company all Restricted
                Shares that have not previously vested pursuant to either Section
                3(b),
                Section 3(c) or Section 5, without any consideration paid to Employee,
                and, thereafter,
                Employee shall have no further rights with respect to such forfeited
                Restricted
                Shares. If Employee’s employment with the Company terminates during
                the Performance Period by reason of Employee’s death, Disability or
                retirement
                on or after attaining age 65, Employee shall remain eligible to earn
                those
                Restricted Shares that have, prior to the date of such termination,
                become
                available to vest pursuant to Section 3(a), upon the Company achieving
                the
                Performance Goal as provided in Section 3(b); provided, however,
                that all
                remaining
                Restricted Shares that have not become available to vest by such
                date
                shall
                be immediately forfeited by Employee to the Company.
                

            

    

    

    
      	 	
              (b)

            	
              If,
                at the end of the Performance Period, Employee has remained continuously
                employed by Company during the Performance Period, but Company has
                failed
                to achieve the Performance Goal, then, to the extent the Restricted
                Shares
                have not previously vested pursuant to Section 5 below, Employee
                shall
                immediately forfeit to the Company all Restricted Shares, without
                consideration paid to Employee and, thereafter, Employee shall have
                no
                further rights with respect to such Restricted
                Shares.

            

    

    

    Section
      5. Change of Control. Notwithstanding anything to the contrary contained herein,
      and so long as the Restricted Shares have not previously been forfeited pursuant
      to Section 4(a) or Section 4(b) above, then if, at any time following the
      Date of Award until the end of the Performance Period, there occurs a
      Change of Control as defined in the 1999 Performance Plan, all Restricted Shares
      that have not yet vested shall thereupon immediately vest and all restrictions
      on such Restricted Shares shall thereupon immediately lapse. 

     

    Section
      6. Limitations
      on Transfer.
      Restricted Shares may not be sold, assigned, transferred, exchanged, pledged,
      hypothecated, or otherwise encumbered until such Restricted Shares have vested,
      and no such sale, assignment, transfer, exchange, pledge, hypothecation, or
      encumbrance prior to the time such Restricted Shares have vested, whether made
      or created by voluntary act of Employee or of any agent of such Employee or
      by
      operation of law, shall be

    

    
      
        
           

          
          

        

        
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            3
            -

          
            

          

        

        
          
          

        

      

    

    

    recognized
      by, or be binding upon, or shall in any manner affect the rights of, the Company
      or any agent or any custodian holding certificates for such Restricted
      Shares.

    

    Section
      7. Shareholder
      Rights during Period of Restriction.
      Unless
      and until such Restricted Shares are forfeited as set forth in Sections 4(a)
      or
      4(b) hereof, and subject to the Restrictions set forth in Section 6 above,
      Employee shall have all of the rights of a shareholder of the Company with
      respect to Restricted Shares, including the right to vote and to receive
      dividends on the Restricted Shares.

    

    Section
      8. Issuance
      of Shares.
      No
      certificates for shares of Common Stock shall be delivered to Employee as to
      any
      Restricted Shares before the Period of Restriction as to such Restricted Shares
      has ended, but the Employee’s interest in shares shall be entered in records
      maintained for this purpose by the Company. The Company shall deliver
      certificates for the Restricted Shares that have vested pursuant to Section
      3(b), 3(c) or 5 of this Agreement as soon as practicable after the date such
      shares vest. Any certificate issued for Restricted Shares that have vested
      under
      this Agreement shall be registered in the name of the Employee unless the
      Employee gives written instructions to register such shares in another
      name.

    

    Section
      9. Adjustment
      in Certain Events.
      If
      there is any change in the Common Stock by reason of stock dividends, split-ups,
      mergers, consolidations, reorganizations, combinations or exchanges of shares
      or
      the like, each Restricted Share under this Agreement shall be adjusted in the
      same manner as any other share of the Company’s Common Stock and the provisions
      of this Agreement shall extend not only to the number of Restricted Shares
      awarded hereunder, but also to all additional shares of Common Stock or other
      securities received by Employee pursuant to any such change with respect to
      the
      Restricted Shares granted hereunder, which additional shares of Common Stock
      or
      other securities shall be deemed to be Restricted Shares for purposes of this
      Agreement.

    

    Section
      10. Amendment.
      This
      Agreement may be amended by mutual consent of the parties hereto by written
      agreement.

    

    Section
      11. Withholding.
      The
      Company shall have the right to withhold from or require Employee to pay to
      the
      Company any amounts required to be withheld by the Company in respect of any
      federal, state or local taxes in respect of the Restricted Shares or any
      compensation under this Agreement. Employee may elect to have such withholding
      satisfied by a reduction in the number of Restricted Shares deliverable to
      Employee under this Agreement at such time, such reduction to be calculated
      based on the average of the high and low market prices per share of stock on
      the
      date of such election.

    

    Section
      12. Governing
      Law.
      This
      Agreement shall be construed and administered in accordance with the laws of
      the
      State of Missouri.

    

    
      
        
           

          
          

        

        
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            4
            -

          
            

          

        

        
          
          

        

      

    

    

    IN
      WITNESS WHEREOF, the parties have caused this Agreement to be executed as of
      the
      day first written above.

    

    ANGELICA
      CORPORATION

    

    

    

    By:                            
                           
      

          
Stephen
      M. O’Hara

          
Chief
      Executive Officer

    

    

    EMPLOYEE

    

    

    _______________________________________

    

    Printed
      Name: ____________________________

    

    

    
 

     

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