Document:

Document

Exhibit 10.1

August 30, 2022

Edward L. Doheny II

Dear Ted,

This letter agreement (the “Letter Agreement”) amends certain provisions in the letter agreement between you and Sealed Air Corporation (the “Company,” “we” or “us”) dated September 5, 2017 regarding your initial employment by the Company starting on September 18, 2017, as amended by the letter agreement dated December 10, 2020 (collectively, the “Current Agreement”). Capitalized terms not otherwise defined in this Letter Agreement are as defined in the Current Agreement.

1.Term.  The Current Agreement provides for an Initial Term scheduled to end on September 18, 2022 and annual one-year renewal terms thereafter.  In accordance with this Letter Agreement, the Term is extended to December 31, 2027.  If your employment with the Company continues after December 31, 2027, it shall be on an “at will” basis without further one-year renewal periods.  As provided in the Current Agreement, your employment may be ended as follows: (i) the Term will end automatically upon your death or Disability; (ii) the Term will end upon your voluntary termination of employment without Good Reason provided that you give the Company at least 90 days prior written notice; (iii) the Term will end upon your voluntary termination of employment with Good Reason, subject to the notice and cure requirements included in the definition of Good Reason; (iv) the Term will end immediately upon the Company’s termination of your employment for Cause; and (v) the Term will end upon the Company’s termination of your employment without Cause provided that the Company gives you at least 90 days prior written notice.

2.Special Retirement Provisions for Equity Awards.  The following special retirement provisions shall apply to any awards you receive under the Company’s 2014 Omnibus Incentive Plan (or any successor plan) from and after the date of this Letter Agreement (the “Covered Equity Awards”), except to the extent that the awards have more favorable vesting provisions for you: 

•If your employment with the Company ends at any time on or after the “Earliest Retirement Date” (as defined below) other than by reason of your death or Disability and other than a termination that was, or could have been, by the Company for Cause, then any outstanding Covered Equity Awards will continue to vest in accordance with their original vesting schedule without any pro rata adjustment for the period of service completed but subject to any applicable performance conditions. 

•Payment per the original vesting schedule following retirement is conditioned on your compliance with the covenants set forth in Section 6 of the Current Agreement.  In addition, the Company may condition such continued vesting on your providing the Company with a release of claims substantially in the form attached as Exhibit D to the Current Agreement.

•For purposes of this Letter Agreement, “Earliest Retirement Date” means the earlier of (i) December 31, 2027, or (ii) the date determined by the Board, not before December 31, 2025, if (A) a successor Chief Executive Officer has been identified by the Board, and (B) the Board determines that you have appropriately supported and cooperated with the succession planning process.

•These special retirement provisions that apply to Covered Equity Awards from and after the Earliest Retirement Date are in lieu of any non-change in control cash severance benefits from and after that date.  Accordingly, if you experience a Qualifying Termination (as defined in the Current Agreement) on or after the Earliest Retirement Date and other than on or within 24 months after a Change in Control (as defined in the Current Agreement), then upon such Qualifying Termination, (i) you shall be eligible for the special retirement provisions related to the Covered Equity Awards as described above, and (ii) you shall not be entitled to receive the cash severance benefits described under “Severance Not in Connection with a Change in Control” in Section 5 of the Current Agreement (or cash severance under any other plan or arrangement of the Company, including the Company’s Executive Severance Plan).  For 

avoidance of doubt, Section 5 of the Current Agreement will continue to apply without modification for any Qualifying Termination that occurs before the Earliest Retirement Date, and nothing herein shall be deemed to modify the terms of Section 5 under the heading “Severance in Connection with a Change in Control.”

3.Loss on Sale of Home. The Current Agreement provides that you will be eligible for reimbursement for 100% of the loss on sale of your home in Milwaukee, WI, capped at $300,000, should you choose to sell that home by September 18, 2022.  As further consideration for this Letter Agreement, this benefit will be extended by one year, so that it will apply to any sale of your home by September 18, 2023.  You will continue to be eligible for reimbursement of documented, reasonable expenses associated with moving furnishings and similar expenses associated with the sale of your home.

Except as described above, the Current Agreement otherwise remains in effect.

Please indicate your agreement with this Letter Agreement by signing the enclosed copy of this Letter Agreement and returning it to Henry’s attention. Please let us know if you have any questions.

Sincerely,

/s/ Henry R. Keizer                /s/ Françoise Colpron            
Henry R. Keizer                    Françoise Colpron
Chairman of the Board of Directors        Chairman of the Organization & Compensation
Committee                                                 

Accepted and Agreed to:

/s/ Edward L. Doheny II            
Edward L. Doheny II 
Date: August 30, 2022Exhibit
4.1

 

	NUMBER

    U-__________
	 	UNITS

 

	SEE
    REVERSE FOR

    CERTAIN DEFINITIONS	DT
    CLOUD ACQUISITION CORPORATION	 

 

CUSIP
G28524 109

 

UNITS
CONSISTING OF ONE ORDINARY SHARE AND ONE WARRANT AND ONE RIGHT

 

THIS
CERTIFIES THAT ________________________________________________________________________is the owner of ________________________________________________________________________Units.

 

Each
Unit (“Unit”) consists of one ordinary share, par value $0.0001 per share, of DT Cloud Acquisition Corporation, a Cayman
Islands company (the “Company”) and one redeemable warrant (“Warrants”), and one right to receive one- twentieth
(1/20) of one ordinary share upon consummation of an initial business combination (“Rights”). Each redeemable Warrant entitles
the holder thereof to purchase one ordinary share at a price of $11.50 per full share (subject to adjustment), upon the later to occur
of (i) 30 days after the Company’s completion of a merger, share exchange, asset acquisition, share purchase, recapitalization,
reorganization or other similar business combination with one or more businesses or entities (a “Business Combination”) or
(ii) 12 months from the date that the registration statement is declared effective by the Securities and Exchange Commission (the “SEC”).
Every twenty Rights entitles the holder thereof to receive one ordinary share upon the consummation of the Business Combination. The
ordinary shares, Warrants, and Rights comprising the Units represented by this certificate are not transferable separately prior to the
52nd day after the date of the prospectus relating to the Company’s initial public offering, unless Brookline Capital Markets,
a division of Arcadia Securities, LLC as the underwriter, determines that an earlier date is acceptable, but in no event will the ordinary
shares and Warrants be traded separately until the Company files with the Securities and Exchange Commission (the “SEC”)
a current report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds from
its initial public offering including the proceeds received by the Company from the exercise of the over-allotment option thereto, if
the over-allotment option is exercised. If the over-allotment option is exercised after the date of the prospectus, we will file an amendment
to the Form 8-K or a new Form 8-K to provide updated financial information to reflect the exercise of the over-allotment option. We will
also include in the Form 8-K, or amendment thereto, or in a subsequent Form 8-K, information indicating if the underwriter has
allowed separate trading of the ordinary shares and Warrant prior to the 52nd day after the date of the prospectus.

 

The
terms of the Warrants and the Rights are governed by a warrant agreement (the “Warrant Agreement”), dated as of [ ], 2022,
and a rights agreement (the “Rights Agreement”), between the Company and Continental Stock Transfer & Trust Company,
as the warrant agent and right agent, and are subject to the terms and provisions contained therein, all of which terms and provisions
the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement and Rights Agreement are on file at
the office of Continental Stock Transfer & Trust Company at 1 State Street, 30th Floor New York, NY 10004-1561, and are available
to any Warrant Holder or Rights Holders, on written request and without cost.

 

This
certificate is not valid unless countersigned by the Transfer Agent and Registrar of the Company.

 

Witness
the facsimile seal of the Company and the facsimile signatures of its duly authorized officers.

 

    	 

     

    

 

This
Unit Certificate shall be governed and construed in accordance with the internal laws of the State of New York, without regard to conflicts
of laws principles thereof.

 

	By	 	[Seal]
	 	 	 
	 	 	 
	Chairman	 	Chief
    Financial Officer

 

DT
CLOUD ACQUISITION CORPORATION

 

The
Company will furnish without charge to each shareholder who so requests, a statement of the powers, designations, preferences and relative,
participating, optional or other special rights of each class of shares or series thereof of the Company and the qualifications, limitations,
or restrictions of such preferences and/or rights.

 

The
following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written
out in full according to applicable laws or regulations:

 

	 	TEN
    COM 	as
    tenants in common	UNIF
    GIFT MIN ACT - _____ Custodian ______
	 	 	 	 
	 	TEN
    ENT 	as
    tenants by the entireties	(Cust)                 (Minor)
	 	 	 	 
	 	JT
    TEN 	as
    joint tenants with right of survivorship	under
    Uniform Gifts to Minors
	 	 	 	 
	 	 	and
    not as tenants in common	Act
    ______________

    (State)

 

Additional
Abbreviations may also be used though not in the above list.

 

For
value received, ___________________________ hereby sell(s), assign(s) and transfer(s) unto

 

PLEASE
INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING
NUMBER OF ASSIGNEE(S)

 

	 

     
	 

 

    	 

     

    

 

(PLEASE
PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

 

	 	Units

represented
by the within Certificate, and do hereby irrevocably constitute and appoint

 

	 	Attorney

to
transfer the said Units on the books of the within named Company with full power of substitution in the premises.

 

	Dated	 	 

 

	 	Notice:	The
    signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without
    alteration or enlargement or any change whatever.

 

Signature(s)
Guaranteed:

 

	 	 
	THE
    SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT
    UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).	 

 

The
holder of this certificate shall be entitled to receive funds with respect to the underlying ordinary shares from the trust fund only
in the event of the Company’s liquidation upon failure to consummate a business combination or if the holder seeks to convert his
or her respective ordinary shares underlying the unit upon consummation of such business combination or in connection with certain amendments
to the Company’s Amended and Restated Memorandum and Articles of Association. In no other circumstances shall the holder have any
right or interest of any kind in or to the trust fund.

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