Document:

LENOX GROUP INC. EXHIBIT 10.1 TO FORM 8-K

Exhibit 10.1  

AMENDMENT No. 4, effective as of May 1, 2008, to CONSULTING AGREEMENT dated as of January 4, 2007 as amended by Amendment No. 1 dated January 24, 2007, Amendment No. 2 dated April 5, 2007, and Amendment No. 3 dated as of January 28, 2008 (collectively referred to as the “Agreement”), by and between Lenox Group Inc., with principal offices at One Village Place, 6436 City West Parkway, Eden Prairie, MN 55344 (“LGI” or the “Company”) and CARL MARKS ADVISORY GROUP LLC, with principal offices at 900 Third Avenue, 33rd Floor, New York, NY  10022 (“CMAG” or “Consultant”).

 

	
            1.
 	
            Compensation
 

 

Section 2(a) of Amendment No. 2 (captioned “Compensation”) shall be amended as follows: 

 

Discount to monthly consulting service fees

 

 (a) Commencing May 1, 2008,
the consulting service fees charged to LGI as set forth in Section 2(a) of Amendment No. 2 (the “CMAG Fees”) for Marc L.
Pfefferle as Interim Chief Executive Officer as well as the fixed monthly fee for each CMAG associate required to perform the
consulting services will be calculated utilizing a discount of 12.5%. LGI shall continue to pay the fixed monthly CMAG Fees, as
discounted, (i.e. 87.5% of the CMAG Fees) to CMAG in advance, one half on each of the first and fifteenth day of each monthly
period in which consulting services are to be provided. 

 

(i)  In the event that the strategic alternative process announced by the Company on January 14, 2008 results in the sale or merger of substantially all of the Company in accordance with the terms of Amendment No. 3, the Company will pay CMAG the 12.5% discounted portion of the fees earned beginning May 1, 2008, in addition to the discounted fees (87.5%) previously paid, plus an additional 25% on the discounted amount (i.e., for a total of 103.125% of  the CMAG Fees, as such fees have been calculated by CMAG on this engagement on or before May 1, 2008, and prior to the post-May 1, 2008 12.5% discount provided for herein).

 

(ii)  In the event a success fee is payable to CMAG pursuant to Amendment No. 3, the Company will receive a credit against such success fee for the 3.125% portion of the CMAG Fees paid under Section 1(a)(i) of this Amendment No. 4. 

 

 

	
            2.
 	
            Continued Binding Effect of Agreement
 

 

Except as specifically modified in this Amendment No. 4, the Agreement as heretofore amended shall continue in full force and effect and, as modified herein, shall be binding in all respects on the parties hereto. 

 

IN WITNESS WHEREOF the parties have executed and delivered this Amendment No. 4 as of the dates set forth below.

 

 

 

 

 

 

	
            CARL MARKS ADVISORY GROUP LLC
 	
             
 	
            LENOX GROUP INC.
 
	
            By: 
 	
            
 /s/ Marc L. Pfefferle
 	
             
 	
            By: 
 	
            
 /s/ Stewart M. Kasen
 
	
             
 	
            Partner
 Dated: 5/16/08
 	
             
 	
             
 	
            Chairman of the Board
 Dated: 5/13/08LENOX GROUP INC. EXHIBIT 10.2 TO FORM 8-K

Exhibit 10.2  

May 7, 2008

 

Mr. Fred Spivak

 

[Address]

 

Dear Fred:

 

As you know, in response to current economic conditions, the Company has taken several actions to reduce costs, including cutting employee benefits. As part of this initiative, you have agreed to reduce your cash bonus guarantee for Fiscal 2008 by 12.5%. Accordingly, this letter confirms this agreement and amends your offer of employment letter, dated October 1, 2007 (“Offer Letter”), by deleting the “Cash Bonus” section in its entirety and replacing it with the following: 

 

	
            Cash Bonus:
 	
            You will be eligible to participate in our annual cash incentive program with a target bonus opportunity of 55% of base salary, which could provide a maximum payout of 82.5%. The cash bonus award associated with this program is dependent on Company performance. Management gains Compensation Committee approval on annual performance metrics and bonuses are determined based on Company performance against these metrics. A definitive program document governs the cash bonus program. 
 

 

For Fiscal 2007, the Company paid you a cash bonus in the amount of $125,000.00 which was the guarantee provided in your Offer Letter. For Fiscal 2008, the Company will guarantee a cash bonus in the amount of $109,375.00, provided you are employed by the Company at the end of this fiscal year. This guaranteed cash bonus payment will be made in the first quarter following the year close and will be an offset against any cash bonus earned pursuant to the performance based bonus approved by the Board. 

 

 

Please acknowledge your acceptance of this amendment to your Offer Letter by signing below and returning this signed letter to me.

 

	
            Sincerely,
 	
            Acknowledged and Accepted:
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 
	
            /s/ Branka Hannon
 	
            /s/
 	
            Fred Spivak
 
	
             
 	
             
 	
            Dated: 5/15/08efc8-0865_emailex41.htm

    Exhibit
4.1

     

     

    AMENDMENT
NO. 1

     

    Dated as
of May 16, 2008

     

    to

     

    POOLING
AND SERVICING AGREEMENT

     

    Dated as
of December 1, 2005

     

    among

     

    CWALT,
INC.,

    Depositor

     

    COUNTRYWIDE
HOME LOANS, INC.,

    Seller

     

    PARK
GRANADA LLC,

    Seller

     

    PARK
MONACO INC.,

    Seller

     

    PARK
SIENNA LLC,

    Seller

     

    COUNTRYWIDE
HOME LOANS SERVICING LP,

    Master
Servicer

     

    and

     

    THE BANK
OF NEW YORK,

    Trustee

     

    ALTERNATIVE
LOAN TRUST 2005-76

     

    
      MORTGAGE
PASS-THROUGH CERTIFICATES, SERIES 2005-76

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    THIS
AMENDMENT NO. 1, dated as of May 16, 2008 (the “Amendment”),
to the Pooling and Servicing Agreement (as defined below), is among CWALT, INC.,
as depositor (the “Depositor”),
COUNTRYWIDE HOME LOANS, INC. (“Countrywide”),
as a seller (a “Seller”),
PARK GRANADA LLC (“Park
Granada”), as a seller (a “Seller”),
PARK MONACO INC. (“Park
Monaco”), as a seller (a “Seller”),
PARK SIENNA LLC (“Park
Sienna”), as a seller (a “Seller”),
COUNTRYWIDE HOME LOANS SERVICING LP, as master servicer (the “Master
Servicer”), and THE BANK OF NEW YORK, as trustee (the “Trustee”).

     

    W I T N E S S E T H

     

    WHEREAS,
the Depositor, Countrywide, as a Seller, Park Granada, as a Seller, Park Monaco,
as a Seller, Park Sienna, as a Seller, the Master Servicer, and
Trustee entered into a Pooling and Servicing Agreement, dated as of December 1,
2005 (the “Pooling and
Servicing Agreement”), providing for the issuance of the Alternative Loan
Trust 2005-76, Mortgage Pass-Through Certificates, Series 2005-76;

     

    WHEREAS,
the transaction evidenced by the Pooling and Servicing Agreement closed on
December 30, 2005 (the “Closing
Date”);

     

    WHEREAS,
the parties to the transaction wish to amend the Pooling and Servicing Agreement
as of the Closing Date by: (1) replacing the definition of “Certificate Balance”
in Article I with a definition that includes the concept of Net Deferred
Interest and (2) adding Section 4.03 (together, such amendments, the
“Amendment”) so as to provide for the allocation of Net Deferred Interest to the
Certificate Balances of the Certificates;

     

    WHEREAS,
subject to the satisfaction of certain conditions provided therein, Section
10.01 of the Pooling and Servicing Agreement provides that the Pooling and
Servicing Agreement may be amended by the parties thereto without the consent of
any Certificateholders to conform to the Prospectus and Prospectus Supplement
provided to investors in connection with the initial offering of the
Certificates;

     

    WHEREAS,
the parties to the Pooling and Servicing Agreement wish to amend the Pooling and
Servicing Agreement to conform to the Prospectus Supplement as described in the
third recital of this Amendment;

     

    WHEREAS,
the Depositor and the Master Servicer have concluded that no consent of any
Class of Certificates is required for the adoption of the Amendment;
and

     

    WHEREAS,
the Depositor has delivered to the Trustee an Opinion of Counsel in accordance
with the provisions of the Pooling and Servicing Agreement;

     

    NOW,
THEREFORE, the parties hereto agree as follows:

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    SECTION
1.     Defined
terms.

     

    For
purposes of this Amendment, unless the context clearly requires otherwise, all
capitalized terms which are used but not otherwise defined herein shall have the
respective meanings assigned to such terms in the Pooling and Servicing
Agreement.

     

    SECTION
2.     Amendment.

     

    (1)  As
of the Closing Date, the definition of “Certificate Balance” as set forth in
Article I of the Pooling and Servicing Agreement is hereby deleted and replaced
with the following:

     

    Certificate
Balance:  With respect to any Certificate (other than the Class
C Certificates) at any date, the maximum dollar amount of principal to which the
Holder thereof is then entitled under this Agreement, such amount being equal to
the Denomination of that Certificate (A) plus, (i) the amount of Net Deferred
Interest allocated to such Class of Certificates pursuant to Section 4.03 and
(ii) with respect to the Subordinated Certificates, any increase to the
Certificate Balance of such Certificate pursuant to Section 4.02 due to the
receipt of Subsequent Recoveries and (B) minus the sum of (i) all
distributions of principal previously made with respect to that Certificate and
(ii) with respect to the Subordinated Certificates, any Applied Realized
Loss Amounts allocated to such Certificate on previous Distribution Dates
pursuant to Section 4.02 without duplication.

     

    (2)  As
of the Closing Date, the following section is added as Section 4.03 to the
Pooling and Servicing Agreement:

     

    Section
4.03.     Allocation of Net Deferred
Interest

     

    (a)  For
any Distribution Date, the Net Deferred Interest allocated to a Class of
Certificates shall be an amount equal to the excess, if any, of (i) the amount
of interest that accrued on such Class of Certificates at the applicable
Pass-Through Rate during the Interest Accrual Period related to that
Distribution Date over (ii) the amount of interest that accrued on such Class of
Certificates at the related Adjusted Cap Rate during the Interest Accrual Period
related to that Distribution Date.

     

    (b)  Any
Net Deferred Interest allocated to a Class of Certificates will be added to the
Class Certificate Balance of such Class of Certificates.

     

    SECTION
3.     Effect Of
Amendment.

     

    Upon
execution of this Amendment, the Pooling and Servicing Agreement shall be, and
be deemed to be, modified and amended in accordance herewith and the respective
rights, limitations, obligations, duties, liabilities and immunities of the
Depositor, the Sellers, the Master Servicer and the Trustee shall hereafter be
determined, exercised and enforced subject in all respects to such modifications
and amendments, and all the terms and conditions of this Amendment shall be and
be deemed to be part of the terms and conditions of the Pooling and Servicing
Agreement for any and all purposes.  Except as modified and expressly
amended by 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    this
Amendment, the Pooling and Servicing Agreement is in all respects ratified and
confirmed, and all the terms, provisions and conditions thereof shall be and
remain in full force and effect.

     

    SECTION
4.     Binding
Effect.

     

    The
provisions of this Amendment shall be binding upon and inure to the benefit of
the respective successors and assigns of the parties hereto, and all such
provisions shall inure to the benefit of the Trustee and the related
Certificateholders.

     

    SECTION
5.     Governing
Law.

     

    THIS
AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE SUBSTANTIVE
LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED
IN THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HERETO AND THE CERTIFICATEHOLDERS SHALL BE DETERMINED IN ACCORDANCE WITH SUCH
LAWS.

     

    SECTION
6.     Severability of
Provisions.

     

    If any
one or more of the provisions or terms of this Amendment shall be for any reason
whatsoever held invalid, then such provisions or terms shall be deemed severable
from the remaining provisions or terms of this Amendment and shall in no way
affect the validity or enforceability of the other provisions or terms of this
Amendment or of the Certificates or the rights of the Holders
thereof.

     

    SECTION
7.     Section
Headings.

     

    The
section headings herein are for convenience of reference only, and shall not
limit or otherwise affect the meaning hereof.

     

    SECTION
8.     Counterparts.

     

    This
Amendment may be executed in several counterparts, each of which shall be an
original and all of which shall constitute but one and the same
instrument.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    IN
WITNESS WHEREOF, the Depositor, the Sellers, the Master Servicer and the Trustee
have caused this Amendment to be duly executed by their respective officers
thereunto duly authorized, all as of the day and year first above
written.

     

    
       

      
        
          	 	CWALT, INC., 

                      
      as Depositor

                	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/ Darren
    Bigby 	 
	 	 	Name: 
      Darren Bigby 	 
	 	 	Title: 
      Executive Vice President 	 
	 	 	 	 

        

      

      
         

        
          
            	 	
                    
                      THE
      BANK OF NEW YORK, 

                            
      as Trustee

                      

                    

                  	 
	 	 	 	 
	
                     

                  	
                    By:
      

                  	/s/ Michelle
      Penson	 
	 	 	Name: 
      Michelle Penson	 
	 	 	Title: 
      Vice President	 
	 	 	 	 

          

        

        
           

          
            
              	 	
                      
                        COUNTRYWIDE
      HOME LOANS, INC., 

                              
      as a Seller

                        

                      

                    	 
	 	 	 	 
	
                       

                    	
                      By:
      

                    	/s/ Darren
    Bigby 	 
	 	 	Name: 
      Darren Bigby 	 
	 	 	Title: 
      Executive Vice President 	 
	 	 	 	 

            

          

        

      

    

    
      
         

        
          
            	 	PARK
      GRANADA LLC, 

                    
                          
      as a Seller

                    

                  	 
	 	 	 	 
	
                     

                  	
                    By:
      

                  	/s/ Darren
    Bigby 	 
	 	 	Name: 
      Darren Bigby 	 
	 	 	Title: 
      Executive Vice President 	 
	 	 	 	 

          

        

        
           

          
            
              	 	
                      
                        PARK
      MONACO INC.,

                            
      as a Seller

                      

                    	 
	 	 	 	 
	
                       

                    	
                      By:
      

                    	/s/ Darren
    Bigby 	 
	 	 	Name: 
      Darren Bigby 	 
	 	 	Title: 
      Executive Vice President 	 
	 	 	 	 

            

          

           

        

      

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      
         

        
          
            	 	
                    PARK
      SIENNA LLC,

                        
      as a Seller

                  	 
	 	 	 	 
	
                     

                  	
                    By:
      

                  	/s/ Darren
    Bigby 	 
	 	 	Name:  Darren
      Bigby 	 
	 	 	Title:  
      Executive Vice President 	 
	 	 	 	 

          

        

        
           

          
            
              	 	
                      COUNTRYWIDE
      HOME LOANS SERVICING LP,

                      
                            
      as Master Servicer

                      

                    	 
	 	 	 	 
	 	By:	COUNTRYWIDE
      GP, INC.	 
	 	 	 	 
	
                       

                    	
                      By:
      

                    	/s/ Darren
    Bigby 	 
	 	 	Name:  Darren
      Bigby 	 
	 	 	Title:   
      Executive Vice President 	 
	 	 	 	 

            

          

        

      

    

     

    5

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