Document:

ex41to8k06282_09062013.htm

Exhibit 4.1

 

SECOND AMENDMENT TO RIGHTS AGREEMENT

THIS SECOND AMENDMENT (this “Second Amendment”), dated as of September 6, 2013, to the Rights Agreement dated as of September 7, 2010, as amended (the “Rights Agreement”), is made by and between GlobalOptions Group, Inc., a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, a New York corporation, as rights agent (the “Rights Agent”).  Capitalized terms used but not defined herein shall have the meanings assigned thereto in the Rights Agreement.

WHEREAS, the Company and the Rights Agent have heretofore executed and entered into the Rights Agreement;

WHEREAS, the Company may from time to time supplement or amend the Rights Agreement in accordance with the provisions of Section 26 thereof;

WHEREAS, the Company desires to amend certain provisions of the Rights Agreement as set forth herein; and

WHEREAS, the Company has instructed the Rights Agent to enter into this Second Amendment, and an officer of the Company has certified that this Second Amendment is in compliance with the terms of Section 26 of the Rights Agreement.

NOW, THEREFORE, in consideration of the premises and mutual agreements set forth in the Rights Agreement and this Second Amendment, and for other good and valuable consideration, the parties hereto agree as follows:

1.  Amendment to the Rights Agreement.  The definition of “Expiration Date” set forth in Section 1 is hereby replaced in its entirety to read as follows:

“Expiration Date” shall mean the Close of Business on September 6, 2016.

2.  Severability.  If any term, provision, covenant or restriction of this Second Amendment is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Second Amendment shall remain in full force and effect and shall in no way be affected, impaired or invalidated.

3.  Full Force and Effect.  Except as expressly amended hereby, the Rights Agreement shall continue in full force and effect in accordance with the provisions thereof.

4.  Counterparts.  This Second Amendment may be executed in any number of counterparts (including by facsimile) and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

[Signature Page to Follow]

 

  

  

  

 

IN WITNESS WHEREOF, this Second Amendment is effective as of the day and year first referenced above.

	  	
GLOBALOPTIONS GROUP, INC.

	  	  
	  	
By:

	

/s/ Harvey W. Schiller

	  	  	
Name:

	
Harvey W. Schiller

	  	  	
Title:

	
Chairman and CEO

	  	
CONTINENTAL STOCK TRANSFER & TRUST COMPANY

	  	  
	  	
By:

	

/s/ Monty Harry

	  	  	
Name:

	
Monty Harry

	  	  	
Title:

	
Vice President

CERTIFICATION AND INSTRUCTION TO RIGHTS AGENT: The officer of the Company whose duly authorized signature appears above certifies that this Second Amendment is in compliance with the terms of Section 26 of the Rights Agreement and, on behalf of the Company, instructs the Rights Agent to enter into this Second Amendment.ex10forbearagr_9913.htm

FOURTH AMENDMENT TO FORBEARANCE AGREEMENT

This Fourth Amendment to Forbearance Agreement is made and entered into effective this 6th day of  September, 2013, by and between United Bank, Inc., a West Virginia banking corporation, party of the first part, hereinafter called “Lender”, Energy Services of America Corporation, a Delaware corporation, party of the second part, hereinafter called “Company” or “Borrower”, and C. J. Hughes Construction Company, Inc., a West Virginia corporation,
Contractors Rental Corporation, a West Virginia corporation, Nitro Electric Company, Inc., a West Virginia corporation, and S. T. Pipeline, Inc., a West Virginia corporation, parties of the third part, hereinafter called “Guarantors”, the Company and Guarantors sometimes hereinafter collectively called “Obligors”.

RECITALS

A.  Lender has extended two credit facilities in favor of Borrower, the first, an Eighteen Million Dollar ($18,000,000) revolving line of credit (“RLOC”) all of which is set forth in a Loan Agreement dated July 27, 2011 (“RLOC Loan Agreement”) as amended by Agreements dated January 31, 2012, May 10, 2012 and July 25, 2012 and evidenced by a note dated July 27, 2011 (“RLOC Note”), and the second, an Eleven Million Three Hundred Thousand Dollar ($11,300,000) term loan (“Term Loan”), all of which is set forth in a Loan Agreement dated July 27, 2011 (“Term Loan Agreement”) as amended by Agreements dated
January 31, 2012, May 10, 2012 and July 25, 2012 and evidenced by a note dated July 27, 2011 (“Term Note”).  The RLOC Note and the Term Note are hereinafter referred to as the "Notes".  The RLOC Loan and the Term Loan are hereinafter referred to as the "Indebtedness".

B.  The parties have previously executed a Forbearance Agreement dated May 31, 2013, as amended by agreements dated June 5, 2013, June 15, 2013 and July 31, 2013.

C.  Paragraph 6(e)(5) of the Forbearance Agreement requires ESA to raise not less than Six Million Dollars ($6,000,000.00) in cash equity with One Million of the funds to be used to reduce the principal balance of the Indebtedness.

D.  Obligors have requested Lender to permit certain subordinated debt to be converted to equity and counted as part of the Six Million Dollars ($6,000,000.00) to be raised and Lender by this Agreement has agreed to the swap on the terms and conditions set forth below.

E.  Capitalized terms used herein which are not otherwise defined in this Agreement shall have the meaning set forth for them in the Loan Documents.

NOW, THEREFORE, in consideration of these premises and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged and intending to be legally bound hereby, the parties hereby agree as follows:

1.           Paragraph 6(e)(5) of the Forbearance Agreement shall be amended in the following manner:

  

  

  

 Obligors shall raise a total of Seven Million Four Hundred Thousand Dollars ($7,400,000.00) in equity. The parties acknowledge that as of the date of this Amendment, Three Million Dollars has been raised, of which One Million Dollars has been paid to Lender as a principal reduction to the Indebtedness. Of the remaining monies to be raised, One and a Half Million Dollars ($1,500,000.00) is to be raised by August 31, 2013, One and a Half Million Dollars ($1,500,000.00) cash to be raised by September 30, 2013 and the remaining One Million Four Hundred Thousand Dollars ($1,400,000.00) cash to be raised by December 31, 2013.  Lender hereby consents to a swap
by and between Marshall Reynolds (“Reynolds”) and the Obligors of certain subordinated debt owed to Reynolds by Obligors for Preferred Stock being offered by Obligors. The Preferred Stock to be issued to Reynolds will accrue interest but will not be payable until approved by the Lender, which consent shall not be unreasonably withheld. The parties further agree that the amount of debt held by Reynolds and converted into equity shall be counted toward the One and a Half Million Dollars in equity to be raised by August 31, 2013.

2.           In consideration of this Amendment, the Obligors further agree that upon receipt of any payments from the Longview receivable, Obligors shall promptly pay to Lender as a reduction in principal of the Indebtedness the greater of One Million Dollars ($1,000,000.00) or fifty percent (50%) of the amount collected.

3.         All other terms and conditions of the Forbearance Agreement shall remain the same and in full force and effect.

IN WITNESS WHEREOF, and intending to be legally bound, the parties hereto, have caused this Forbearance Agreement to be duly executed by their duly authorized officers as of the date first written above.

 

	
LENDER:

	  	  	  
	  	  	
United Bank, Inc.

	  	  	
a West Virginia corporation

	  	  	  
	  	
By:

	
/s/ Troy LeMaster

	  	
Name:

	
Troy LeMaster

	  	
Title:

	
Vice President

	
BORROWER:

	  	  	  
	  	  	
Energy Services of America Corporation

	  	  	
a Delaware corporation

	  	  	  
	  	
By:

	
/s/ Doug Reynolds

	  	
Name:

	
Doug Reynolds

	  	
Title:

	
Chief Executive Officer

 

 

 

  

2

  

	
GUARANTORS:

	  	  	  
	  	  	  
	  	  	
C. J. Hughes Construction Company, Inc.

	  	  	
a West Virginia corporation

	  	  	  
	  	
By:

	
/s/ Doug Reynolds

	  	
Name:

	
Doug Reynolds

	  	
Title:

	
Chief Executive Officer

	  	  	  

	  	  	
Contractors Rental Corporation

	  	  	
a West Virginia corporation

	  	  	  
	  	
By:

	
/s/ Doug Reynolds

	  	
Name:

	
Doug Reynolds

	  	
Title:

	
Chief Executive Officer

	  	  	  

	  	  	
Nitro Electric Company, Inc.

	  	  	
a West Virginia corporation

	  	  	  
	  	
By:

	
/s/ Doug Reynolds

	  	
Name:

	
Doug Reynolds

	  	
Title:

	
Chairman

	  	  	  

	  	  	
S.T. Pipeline, Inc.

	  	  	
a West Virginia corporation

	  	  	  
	  	
By:

	
/s/ Doug Reynolds

	  	
Name:

	
Doug Reynolds

	  	
Title:

	
Chairman

	  	  	  

  

3Exhibit 10.2 (revised)

Summary of Compensation Structure for
Non‐Associate Members of Board of Directors of Abercrombie & Fitch Co.
(Effective as of February 2, 2014)
Any officer of Abercrombie & Fitch Co. (the “Company”) who is also a director of the Company receives no additional compensation for services rendered as a director.  Directors of the Company who are not employees, or as referred to by the Company, “associates”, of the Company or its subsidiaries (“non‐associate directors”) are to receive:  
		
	•
	an annual retainer of $65,000 (to be paid quarterly in arrears);

		
	•
	an additional annual retainer for each standing committee Chair and member of $25,000 and $12,500, respectively, other than (i) the Chair and the members of the Audit Committee who are to receive an additional annual retainer of $40,000 and $25,000, respectively, (ii) the Chair of the Compensation Committee who is to receive an additional annual retainer of $30,000 and (iii) the Lead Independent Director of the Company who is to receive an additional annual retainer of $30,000, in each case for serving in the stated capacity.  In each case, the retainers are to be paid quarterly in arrears; and 

		
	•
	an annual grant of 3,000 restricted stock units (each of which represents the right to receive one share of Class A Common Stock, $0.01 par value, of the Company (the “Common Stock”), upon vesting).  

The annual restricted stock unit grant is to be subject to the following provisions:  
		
	•
	restricted stock units are to be granted annually on the date of the annual meeting of stockholders of the Company; 

		
	•
	the maximum market value of the underlying shares of Common Stock on the date of grant is to be $300,000 (i.e., should the price of the Company's Common Stock on the grant date exceed $100 per share, the number of restricted stock units granted will be automatically reduced to provide a maximum grant date market value of $300,000);

		
	•
	the minimum market value of the underlying shares of Common Stock on the date of grant is to be $120,000 (i.e., should the price of the Company's Common Stock on the grant date be lower than $40 per share, the number of restricted stock units granted will be automatically increased to provide a minimum grant date market value of $120,000); and 

		
	•
	restricted stock units will vest on the later of (i) the first anniversary of the grant date or (ii) the first “open window” trading date following the first anniversary of the grant date, subject to earlier vesting in the event of the director's death or total disability or upon a change of control of the Company.  

Non‐associate directors are also to be reimbursed for their expenses for attending meetings of the Company's Board of Directors and Board committee meetings and receive the discount on purchases of the Company's merchandise extended to all Company associates.

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