Document:

ex10_1.htm

    
      

    

    Exhibit
      10.1

    

    

    Summary
      of Non-Employee Trustee Compensation

    

    The
      Company pays its Trustees who are not employees of the Company or any of its
      affiliates fees for services as trustees. Trustees receive fees of $6,500 per
      quarter plus $1,400 per Board meeting and an additional $500 fee for each
      telephonic meeting.  The Chairman of the Audit Committee receives an
      additional $1,400 per meeting.  The Board of Trustees established a
      Special Committee made up of the 4 non-employee independent
      trustees.  These Special Committee members are eligible to receive a
      flat fee of $70,000 each for their participation on the Special
      Committee.  The Trustees are also reimbursed for all reasonable
      expenses incurred by them in carrying out their duties as Trustees of the
      Company.exhibit10_1restrictedstock.htm

    Exhibit
      10.1

    RESTRICTED
      STOCK AGREEMENT

    

    THIS
      AGREEMENT, entered into as of the Grant Date (as defined in paragraph 1), by
      and
      between the Participant and Ascendant Solutions, Inc. (the
      "Company");

    

    WITNESSETH
      THAT:

    

    WHEREAS,
      the Company maintains the 2002 Equity Incentive Plan (the "Plan"), which is
      incorporated into and forms a part of this Agreement, and the Participant has
      been selected by the committee administering the Plan (the "Committee") to
      receive a Restricted Stock Award under the Plan;

    

    NOW,
      THEREFORE, IT IS AGREED, by and between the Company and the Participant, as
      follows:

    

    1.  ­Terms
      of Award.  The following terms used in this Agreement shall have
      the meanings set forth in this paragraph 1:

    

    The
      "Participant" is Mark S. Heil.

    

    The
      "Grant Date" is July 9, 2007.

    

    The
      "Restricted Period" is the period beginning on the Grant Date and ending on
      July
      9, 2010; provided, however, that all of the restrictions on the Restricted
      Stock
      set forth herein shall lapse and such shares of Restricted Stock shall fully
      vest in accordance with the following vesting schedule:

    

    One-third,
      or 33,333, of the total shares of the Restricted Stock shall no longer be
      restricted following the first anniversary of the Grant Date;

    

    An
      additional one-third, or 33,333, of the total shares of Restricted Stock shall
      no longer be restricted following the second anniversary of the Grant Date;
      and

    

    An
      additional one-third, or 33,334, of the total shares of Restricted Stock shall
      no longer be restricted following the third anniversary of the Grant
      Date.

    

    Notwithstanding
      the vesting schedule set forth above and so long as the Date of Termination
      (as
      defined in paragraph 6) has not occurred, in the event of a "Change of Control"
      as defined in the Plan, the vesting schedule above shall be accelerated such
      that the Restricted Stock shall be deemed to be fully vested immediately prior
      to such event.

    

     

    Notwithstanding
      the vesting schedule set forth above and so long as the Date of Termination
      has
      not occurred, in the event that the employment of the Participant is terminated
      without “Cause” (as such term is hereinafter defined), the vesting schedule
      above shall be accelerated such that the Restricted Stock shall be deemed to
      be
      fully vested immediately prior to such event.  “Cause” means the
      occurrence of gross negligence or willful misconduct or malfeasance or the
      commission of an act constituting dishonesty or other act of material misconduct
      by Participant that affects the Company, its business, Participant’s employment
      or Participant's business reputation.

     

    

    The
      number of shares of "Restricted Stock" awarded under this Agreement shall be
      100,000 shares.  Shares of "Restricted Stock" are shares of Stock
      granted under this Agreement and are subject to the terms of this Agreement
      and
      the Plan.

    

    Other
      terms used in this Agreement are defined pursuant to paragraph 6 or elsewhere
      in
      this Agreement.

    

    2.  ­Award.  The
      Participant is hereby granted the number of shares of Restricted Stock set
      forth
      in paragraph 1.

    

    3.  ­Dividends
      and Voting Rights.  Restricted Stock shall constitute issued and
      outstanding shares of Common Stock for all corporate purposes. The Participant
      will have the right to vote such Restricted Stock, to receive and retain all
      regular cash dividends and other cash equivalent distributions as the Board
      may
      in its sole discretion designate, pay or distribute on such Restricted Stock
      and
      to exercise all other rights, powers and privileges of a holder of Common Stock
      with respect to such Restricted Stock, with the exceptions that (A) the
      Participant will not be entitled to delivery of the stock certificate or
      certificates representing any shares of Restricted Stock until the Restricted
      Period with respect to such shares of Restricted Stock shall have expired and
      unless all other vesting requirements with respect thereto shall have been
      fulfilled; (B) the Company will retain custody of the stock certificate or
      certificates representing the Restricted Stock during the Restricted Period;
      (C) other than regular cash dividends and other cash equivalent
      distributions as the Board may in its sole discretion designate, pay or
      distribute, the Company will retain custody of all distributions ("Retained
      Distributions") made or declared with respect to the Restricted Stock (and
      such
      Retained Distributions will be subject to the same restrictions, terms and
      conditions as are applicable to the Restricted Stock) until such time, if ever,
      as the Restricted Stock with respect to which such Retained Distributions shall
      have been made, paid or declared shall have become vested and with respect
      to
      which the Restricted Period shall have expired; and (D) a breach of any of
      the restrictions, terms or conditions contained in the Plan or this Agreement
      or
      otherwise established by the Committee with respect to any Restricted Stock
      or
      Retained Distributions will cause a forfeiture of such Restricted Stock and
      any
      Retained Distributions with respect thereto.

    

    
      
        
        

      

      
        -37-

        
          

        

      

      
        
        

      

    

    4.  ­Deposit
      of Shares of Restricted Stock.  The Restricted Stock will be
      represented by a stock certificate or certificates registered in the name of
      the
      Participant to whom such Restricted Stock shall have been awarded. During the
      Restricted Period, certificates representing the Restricted Stock and any
      securities constituting Retained Distributions shall bear a legend to the effect
      that ownership of the Restricted Stock (and such Retained Distributions), and
      the enjoyment of all rights appurtenant thereto, are subject to the
      restrictions, terms and conditions provided in the Plan and this Agreement.
      Such
      certificates shall be deposited by the Participant with the Company, together
      with stock powers or other instruments of assignment, each endorsed in blank,
      which will permit transfer to the Company of all or any portion of the
      Restricted Stock and any securities constituting Retained Distributions that
      shall be forfeited or that shall not become vested in accordance with the Plan
      and this Agreement.

    

    5.  ­Transfer,
      Forfeiture and Withholding of Shares.  Upon the expiration of the
      Restricted Period with respect to the shares of Restricted Stock and the
      satisfaction of any other applicable restrictions, terms and conditions, all
      of
      such shares of Restricted Stock shall become vested and the restrictions shall
      lapse in accordance with the terms of this Agreement and any Retained
      Distributions with respect to such shares of Restricted Stock shall become
      vested and the restrictions shall lapse to the extent that the shares of
      Restricted Stock related thereto shall have become vested and the restrictions
      shall lapse.  Any such shares of Restricted Stock and Retained
      Distributions that do not vest shall be forfeited to the Company and the
      Participants shall not thereafter have any rights with respect to such shares
      of
      Restricted Stock and Retained Distributions that shall have been so
      forfeited.

    

    Shares
      of Restricted Stock may not be sold, assigned, transferred, pledged or otherwise
      encumbered until the expiration of the Restricted Period or, if earlier, until
      the Participant is vested in the shares.  Except as otherwise provided
      in paragraph 1, if the Participant's Date of Termination occurs prior to the
      end
      of the Restricted Period, the Participant shall forfeit all shares of the
      Restricted Stock and Retained Distributions which have not vested as of the
      Participant's Date of Termination.

    

    Participant
      may, at his sole discretion, satisfy any withholding tax obligations due to
      the
      vesting of shares of Restricted Stock by requesting the Company to withhold
      the
      requisite number of such shares.

    

    6.  ­Definitions.  For
      purposes of this Agreement, the terms used in this Agreement shall be subject
      to
      the following:

    

    Date
      of Termination.  The Participant's "Date of Termination" shall be
      the first day occurring on or after the Grant Date on which the Participant
      is
      not employed by or a consultant to the Company, regardless of the reason for
      the
      termination of employment or consulting relationship.

    

    Disability.  "Disability"
      shall have the meaning set forth in Section 2(s) of the Plan.

    

    Plan
      Definitions.  Except where the context clearly implies or
      indicates the contrary, a word, term, or phrase used in the Plan is similarly
      used in this Agreement.

    

    7.  ­Heirs
      and Successors.  This Agreement shall be binding upon, and inure
      to the benefit of, the Company and its successors and assigns, and upon any
      person acquiring, whether by merger, consolidation, purchase of assets or
      otherwise, all or substantially all of the Company's assets and
      business.  If any rights of the Participant or benefits distributable
      to the Participant under this Agreement have not been exercised or distributed,
      respectively, at the time of the Participant's death, such rights shall be
      exercisable by the Designated Beneficiary, and such benefits shall be
      distributed to the Designated Beneficiary, in accordance with the provisions
      of
      this Agreement and the Plan.  The "Designated Beneficiary" shall be
      the beneficiary or beneficiaries designated by the Participant in a writing
      filed with the Committee in such form and at such time as the Committee shall
      require.  If a deceased Participant fails to designate a beneficiary,
      or if the Designated Beneficiary does not survive the Participant, any rights
      that would have been exercisable by the Participant and any benefits
      distributable to the Participant shall be exercised by or distributed to the
      legal representative of the estate of the Participant.  If a deceased
      Participant designates a beneficiary but the Designated Beneficiary dies before
      the Designated Beneficiary's exercise of all rights under this Agreement or
      before the complete distribution of benefits to the Designated Beneficiary
      under
      this Agreement, then any rights that would have been exercisable by the
      Designated Beneficiary shall be exercised by the legal representative of the
      estate of the Designated Beneficiary, and any benefits distributable to the
      Designated Beneficiary shall be distributed to the legal representative of
      the
      estate of the Designated Beneficiary.

    

    8.  ­Administration.  The
      authority to manage and control the operation and administration of this
      Agreement shall be vested in the Committee, and the Committee shall have all
      powers with respect to this Agreement as it has with respect to the
      Plan.  Any interpretation of the Agreement by the Committee and any
      decision made by it with respect to this Agreement is final and
      binding.

    

    9.  ­Plan
      Governs.  Notwithstanding anything in this Agreement to the
      contrary, the terms of this Agreement shall be subject to the terms of the
      Plan,
      a copy of which may be obtained by the Participant from the office of the
      Secretary of the Company.

    

    10.  ­Amendment.  This
      Agreement may be amended by written Agreement of the Participant and the
      Company, without the consent of any other person.

    

    
      
        
        

      

      
        -38-

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, the Participant has executed this Agreement, and the Company
      has caused these presents to be executed in its name and on its behalf, all
      as
      of the Grant Date.

    

    

    

    PARTICIPANT

    

    

    /s/  Mark
      S.
      Heil                                                                           

    Mark
      S. Heil

    

    ASCENDANT
      SOLUTIONS, INC.

    

    

    By:
      /s/  David E.
      Bowe                                                                           

    Name:  David
      E. Bowe

    Its:       President
      & CEO

     

                                                                   
      -39-

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