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EXHIBIT 4.4. ENGLISH SUMMARY OF THE STOCK PURCHASE AGREEMENT BETWEEN BANCOLOMBIA
AND TEXTILES FABRICATO TEJICONDOR S.A.

BANCOLOMBIA'S ACQUISITION OF COMERCIA S.A. (CURRENTLY FACTORING BANCOLOMBIA S.A.
COMPANIA DE FINANCIAMIENTO)

1. ACQUISITION - PURPOSE

Factoring Bancolombia S.A. Compania de Financiamiento (formerly COMERCIA S.A.
"COMERCIA") is a Commercial Finance Company regulated and supervised by the
Colombian Superintendency of Finance. Bancolombia's acquisition of COMERCIA's
shares was carried out pursuant to the following two agreements:

1. The first transaction was completed pursuant to an agreement executed between
Bancolombia and Textiles Fabricato Tejicondor S.A. on May 8, 2006 for the
purchase of 9,803,685 ordinary shares, representing a 55.61% of the total
subscribed and paid-in capital of COMERCIA.

2. The second transaction was completed pursuant to an agreement executed
between the same parties on June 30, 2006, for the purchase of 6,868,409
ordinary shares, representing a 38.96% of the total subscribed and paid-in
capital of COMERCIA.

After the completion of the second transaction Bancolombia held 94.57% of the
total subscribed and paid-in capital of COMERCIA S.A.

Both agreements were signed by Sergio Restrepo Isaza as legal representative of
Bancolombia S.A. and Luis Mariano Sanin Echeverri as legal representative of
Textiles Fabricato Tejicondor S.A

2. PARTIES:

BUYER: BANCOLOMBIA S.A.
SELLER: TEXTILES FABRICATO TEJICONDOR S.A

3. LEGAL AUTHORIZATION

Pursuant to applicable legislation, in order to proceed with an acquisition of
10% or more of the subscribed shares of a financial institution such as
COMERCIA, it is required to obtain the authorization of the Colombian
Superintendency of Finance. On March 14, 2006, pursuant to Communication No.
2005061674-007-000 Bancolombia obtained the authorization to acquire up to
94.9994% of COMERCIA's total share capital.

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4. PRICE:

1. The amount paid for the 55.61% stake was Ps 24,609,504,197.60, which is
equivalent to Ps 2,510.23 per share, paid on May 8, 2006, the same date the
shares were endorsed and transferred.

2. The amount paid for the 38.96% stake was Ps 17,241,286,324.10, which is
equivalent to Ps 2,510.23 per share, paid on June 30, 2006, the same date as the
shares were endorsed and transferred.

The consideration for both transactions was paid in cash.

5. NO ENCUMBRANCES

The shares, duly endorsed and transferred, were legally and validly acquired by
TEXTILES FABRICATO TEJICONDOR S.A. The shares were transferred free from all
encumbrances, embargo or any other limitation with regard to their corresponding
ownership rights. TEXTILES FABRICATO TEJICONDOR S.A. shall be obliged to
disencumber the shares in all those cases duly provided for by law, especially
when they are affected by defects (vicios redhibitorios) or encumbrances with
regard to their title and right to possession. TEXTILES FABRICATO TEJICONDOR
S.A. duly declared that there were no agreements, either with shareholders or
with third parties that would prevent Bancolombia from exercising the rights
acquired to the shares and that the sale and transfer of said shares may be
carried out freely without this constituting a breach of any agreement or
obligation entered into and in force by the shareholders of COMERCIA or by
COMERCIA S.A.

6. RESPONSABILITIES - INDEMNITIES

TEXTILES FABRICATO TEJICONDOR S.A. shall indemnify Bancolombia for the accuracy
of all representations and guarantees contained in the agreements and shall
indemnify Bancolombia for any damage incurred or arising from any inaccuracy
contained in such representations and guarantees, providing said damages
originate in events (i) occurring before the date on which the shares were
endorsed and transferred and not declared by TEXTILES FABRICATO TEJICONDOR S.A.
before that date , and (ii) that were not known to Bancolombia and without any
negligence on the Bancolombia's part; and (iii) providing the damages considered
individually exceed the sum of one hundred million pesos (Ps100,000,000).

The obligation to indemnify Bancolombia shall continue in force for a term of
three (3) years beginning on the date the shares were endorsed and transferred.

                                        2EX-10.III.A

 

    EXHIBIT 10(iii)(A)

 

    Description
    of Performance Objectives

    To be Used To Determine 2007 Management Incentive Compensation
    Awards

 

    On March 28, 2007, the Compensation Committee (the
    “Committee”) of the Board of Directors of The
    Interpublic Group of Companies Inc. (“Interpublic”)
    established the performance objectives that will be used to
    determine 2007 management incentive compensation awards
    (“MICP Awards”) payable in 2008 to the named executive
    officers of Interpublic under Interpublic’s 2006
    Performance Incentive Plan (filed as Appendix A to
    Interpublic’s 2006 proxy statement on April 27, 2006
    and incorporated by reference as Exhibit 10(iii)(F) to
    Interpublic’s Quarterly Report on
    Form 10-Q
    for the quarter ended June 30, 2006, filed on
    August 9, 2006) (the “2006 PIP”).

 

    Pursuant to the 2006 PIP, the Committee is authorized to grant
    MICP Awards based on the achievement of performance objectives
    relating to one or more of the “Performance Criteria”
    (as defined in the 2006 PIP). The Committee has determined that
    the applicable Performance Criteria for 2007 will be operating
    income before impairments, litigation settlements and other
    non-operating items for the 2007 fiscal year. Depending on
    actual performance in 2007, an executive officer’s 2007
    MICP Award could range from zero to 200% of his or her target
    bonus. The Committee will determine the form and timing of MICP
    Awards based on the Committee’s judgment regarding
    Interpublic’s and the executive officer’s performance
    in 2007 against the performance objectives. As contemplated by
    the 2006 PIP, in no event will any executive officer’s MICP
    Award exceed $5,000,000.EX-10.1

 

Exhibit 10.1

RESTRICTED STOCK AGREEMENT

(Under the Connecticut Water Service, Inc.

2004 Performance Stock Program)

     THIS AGREEMENT, made and entered into as of the ___day of ___, 200___(the “Grant Date”) by
and between CONNECTICUT WATER SERVICE, INC., a Connecticut company, (the “Company”), and
                    , (the “Participant”).

W I T N E S S E T H :

     WHEREAS, the Participant currently serves as an independent member of the Company’s Board of
Directors;

     WHEREAS, the Company has been determined that the Participant is an eligible Participant under
the Company’s 2004 Performance Stock Program (the “Plan”); and

     WHEREAS, the Company intends to grant a restricted stock award (the “Award”) to the
Participant pursuant to the Plan and subject to the terms and conditions set forth in this
Agreement;

     NOW THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements
herein contained, the parties agree as follows:

     1. Capitalized Terms. All capitalized terms not defined herein shall have the meaning
ascribed to them in the Plan.

     2. Restricted Shares Award.

          (a) Subject to the terms and conditions of this Agreement,                      (                    ) shares of
the common stock of the Company, without par value (the “Restricted Shares”) are hereby awarded to
the Participant as additional compensation for services as an independent director of the Company.
None of the Restricted Shares may be sold, transferred, pledged, hypothecated or otherwise
encumbered or disposed or until they have vested in accordance with Section 3 of this Agreement.
The Restricted Shares shall be subject to forfeiture as described in Section 4 of this Agreement.

          (b) In order for the Award to take effect, the Participant shall execute and deliver a copy of this
Agreement to the Company at the Company’s offices within ten (10) business days of the date on
which the Participant has received this Agreement. If the Committee determines that the Restricted
Shares shall be held in escrow rather than delivered to the Participant pending the release of the
applicable restrictions, the Participant additionally shall execute and deliver to the Company (1)
an escrow agreement satisfactory to the Committee, and

 

 

(2) the appropriate blank stock powers with respect to the Restricted Shares covered by such
agreements. If the Participant shall fail to execute this Agreement and, if applicable, an escrow
agreement and stock powers, within ten (10) days after receipt thereof from the Company, the Award
made hereunder shall be null and void.

          (c) Subject to the restrictions set forth in the Plan and this Agreement, the Participant
shall generally have the rights and privileges of a stockholder as to the Restricted Shares,
including the right to vote such Restricted Shares, and to receive dividends paid thereon.

     3. Vesting; Acceleration.

          (a) Restrictions on the Restricted Shares shall hereafter lapse as to one hundred
percent (100%) of the Award on the first anniversary of the Grant Date of the Award, provided that
the Participant is still serving as a Director of the Company on such anniversary date.

          (b) Notwithstanding Section 3(a) hereof, the Awards shall vest in full upon the Participant’s
death or Disability while serving on the Board of Directors of the Company. The Award shall also
vest in full upon the Participant’s retirement from the Board of Directors of the Company, provided
that the Committee approves such retirement.

          (c) The Committee may from time to time, in its sole and absolute discretion, accelerate the
vesting of the Award described in Section 3(a) above.

     4. Forfeiture. If the Participant terminates his or her Board service with the
Company at any time prior to the date upon which the Restricted Shares vest in full as set forth in
Section 3(a) hereof, other than because of the Participant’s death, Disability or retirement
approved by the Committee, the Participant shall forfeit all Restricted Shares that then remain
unvested under this Agreement. If all or any portion of the Award made hereunder should be
forfeited, the Participant hereby authorizes the Company to take all actions necessary to deduct
the forfeited Restricted Shares from the Award and acknowledges that the Participant shall have no
claim for such Restricted Shares or for compensation in any form whatsoever, as a result of such
forfeiture.

     5. Legend. The certificate(s) representing the Restricted Shares shall bear the
following legend until the end of the Restricted Period with respect to such Restricted Shares:

“Transfer of this certificate and the shares represented hereby is restricted
pursuant to the terms of a Restricted Stock Agreement, dated as of                     ,
between Connecticut Water Service, Inc. and                     . A copy of such Agreement is
on file at the offices of the Company.”

Stop transfer orders shall be entered with the Company’s transfer agent and registrar against the
transfer of the Restricted Shares, which shall remain in effect until the expiration of the
Restricted Period set forth in Section 3(a) hereof.

-2-

 

     6. Change-In-Control. Notwithstanding the provisions of Section 3(a) hereof, if a
“Change-in-Control” (as defined in the Plan) occurs after the date of this Agreement, then the
restrictions and other conditions applicable to the Award of Restricted Shares under this Agreement
shall immediately lapse and be of no further force and effect.

     7. No Liability or Right to Future Awards; Other Contractual Rights. No provision of
this Agreement shall: (a) be construed to impose upon the Company any liability for any forfeiture
of the Restricted Shares which may result under this Agreement; (b) be construed to create any
contractual or other right to receive future Awards or other benefits under the Plan; or (c) affect
the Company’s right to terminate or modify any other contractual relationship with the Participant.

     8. Changes in Capitalization. This Agreement and the issuance of the Restricted
Shares shall not affect in any way the right or power of the Company or its shareholders to make or
authorize any or all adjustments, recapitalizations, reorganizations or other changes in the
Company’s capital structure or its business, or any merger or consolidation of the Company, or any
issue of bonds, debentures, or the dissolution or liquidation of the Company, or any sale or
transfer of all or any part of its assets or business, or any other corporate act or proceedings,
whether of a similar character or otherwise.

     9. Governing Law; Interpretation. The terms of this Agreement shall be governed by
Connecticut law, without regard to its choice of law provisions. This Agreement shall at all times
be interpreted, administered and applied in a manner consistent with the provisions of the Plan.
If any of the terms or provisions of this Agreement conflict with any terms or provisions of the
Plan, then such terms or provisions shall be deemed inoperative to the extent they so conflict with
the requirements of the Plan.

     10. Amendment; Modification; Waiver. No provision of this Agreement may be amended,
modified or waived unless such amendment, modification or waiver shall be authorized by the
Committee and shall be agreed to in writing by the Participant.

     11. Section 83(b) Election. In the event that the Participant decides to file an
election with the Internal Revenue Service to include the Fair Market Value of any of the
Restricted Shares awarded hereunder in the Participant’s gross income as of the date of this Award,
the Participant shall promptly furnish to the Company a copy of such election, together with the
amount of any federal, state, local or other taxes required to be withheld, to enable the Company
to claim an income tax deduction with respect to such election.

     12. Miscellaneous. This Agreement (a) contains the entire Agreement of the parties
relating to the subject matter of this Agreement and supersedes any prior agreements or
understandings with respect thereto and (b) shall be binding upon and inure to the benefit of the
Company, its successors and assigns and the Participant, his or her heirs, devisees and legal
representatives. In the event of the Participant’s death or a judicial determination of his or her
incompetence, reference in this Agreement to the Participant shall be deemed to refer to his or her
legal representative, heirs or devisees, as the case may be.

-3-

 

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

	 	 	 	 	 	 	 	 	 
	Participant	 	 	 	CONNECTICUT WATER
	 	 	 	 	 	 	SERVICE, INC.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By	 	 
	 
	 	 	 	 	 	 

Name:
	 

	 	 	 	 	 	 	 	Title:
	Dated
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 

-4-

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