Document:

lksd-ex1021_917.htm

 

Exhibit 10.21

LSC COMMUNICATIONS, INC.
DIRECTOR RESTRICTED STOCK UNIT AWARD

This Restricted Stock Unit Award (“Award”) is granted as of this XX day of XX, XXXX (the “Grant Date”) by LSC Communications, Inc., a Delaware corporation (the “Company”), to XXXXXXX (“Grantee”).  This Award is made to Grantee pursuant to the provisions of the Company’s 2016 Performance Incentive Plan, as it may be amended from time to time (the “2016 PIP”).  Capitalized terms not defined herein shall have the meanings specified in the 2016 PIP.

 

1.Grant of Award.  The Company hereby credits to Grantee XXXX restricted stock units (the “RSUs”), subject to the restrictions and on the terms and conditions set forth herein.  Grantee shall indicate acceptance of this Award by signing and returning a copy hereof.

2.Issuance of Common Stock in Satisfaction of Restricted Stock Units.  

(a)Except to the extent otherwise provided in paragraph 2(b) below, the Company shall deliver to Grantee on the earlier of  (1) May XX, XXXX or (2) the date Grantee ceases to be a member of the Board of Directors of the Company (the “Board”) or such other date as required by section 409A(a)(2)(A)(i) of the Internal Revenue Code of 1986, as amended (“Section 409A”), the number of shares of Common Stock equal to all of the RSUs and cash in the amount of Dividend Equivalents (as defined below) earned with respect to such RSUs pursuant to paragraph 3 below. 

(b)Upon the date of a Change in Control, shares of Common Stock with respect to any remaining RSUs and cash in the amount of Dividend Equivalents earned with respect to such RSUs pursuant to paragraph 3 below shall be delivered to Grantee in accordance with the terms of the 2016 PIP.

(c)Each RSU shall be cancelled upon the issuance of a share of Common Stock with respect thereto.

3.Dividend Equivalents.  An amount in cash equal to the amount of dividends and other distributions that are payable (other than dividends or distributions for which the record date is prior to the date hereof) during the period commencing on the date hereof and ending on the date on which no RSUs shall remain outstanding (due to issuance of shares of Common Stock (or cash) in satisfaction of RSUs pursuant to paragraph 2) on a like number of shares of Common Stock as are equal to the number of RSUs then outstanding shall be credited to a bookkeeping account for Grantee (the “Dividend Equivalents”).  Such bookkeeping account shall be credited quarterly (beginning on the last day of the calendar quarter in which the first credit to the account was made) with an amount of interest on the balance (including interest previously 

 

 

credited) at an annual rate equal to the then current yield obtainable on United States government bonds having a maturity date of approximately five years.      

4.Deferral Elections.  Notwithstanding the payment timing above, the delivery of the shares of Common Stock under this Award will be made in accordance with the terms of any deferral election made by Grantee using such deferral election form as approved by the Human Resources Committee of the Board (the “Committee”) from time to time, subject to any conditions deemed appropriate from time to time by the Committee (including the suspension of the right to elect deferrals or to make changes to any existing deferral election) and in accordance with Section 409A.

5.Rights as a Shareholder.  Prior to issuance, Grantee shall not have the right to vote, nor have any other rights of ownership in, the shares of Common Stock to be issued in satisfaction of the RSUs.  

6.Withholding Taxes 

(a)As a condition precedent to the issuance to Grantee of any shares of Common Stock pursuant to this Award, Grantee shall, upon request by the Company, pay to the Company such amount of cash as the Company may be required, under all applicable and allowable laws or regulations, to withhold and pay over as income or other withholding taxes (the “Required Tax Payments”) with respect to the Award and any Dividend Equivalents.  If Grantee shall fail to advance the Required Tax Payments after request by the Company, the Company may, in its discretion, deduct any Required Tax Payments from any amount then or thereafter payable by the Company to Grantee.

(b)Grantee may elect to satisfy his or her obligation to advance the Required Tax Payments by any of the following means:  (1) a cash payment to the Company, (2) delivery to the Company of previously owned whole shares of Common Stock for which Grantee has good title, free and clear of all liens and encumbrances, having a fair market value, determined as of the date the obligation to withhold or pay taxes first arises in connection with the Award and any Dividend Equivalents (the “Tax Date”), equal to the Required Tax Payments, or (3) directing the Company to withhold a number of shares of Common Stock (or cash) otherwise issuable to Grantee pursuant to this Award and any Dividend Equivalents having a fair market value, determined as of the Tax Date, equal to the Required Tax Payments or any combination of (1)-(3). No certificate representing a share of Common Stock shall be delivered until the Required Tax Payments have been satisfied in full.  For purposes of this Award and any Dividend Equivalents, the fair market value of a share of Common Stock on a specified date shall be determined by reference to the closing stock price  in trading of the Common Stock or, if no such trading in the Common Stock occurred on such date, then on the next preceding date when such trading occurred.

7.Miscellaneous  

 

 

(a)The Company shall pay all original issue or transfer taxes with respect to the issuance or delivery of shares of Common Stock pursuant hereto and all other fees and expenses necessarily incurred by the Company in connection therewith, and will use reasonable efforts to comply with all laws and regulations which, in the opinion of counsel for the Company, shall be applicable thereto.

(b)This Award shall be governed in accordance with the laws of the State of Illinois.

(c)This Award shall be binding upon and inure to the benefit of any successor or successors to the Company.

(d)Neither this Award nor the RSUs nor any rights hereunder or thereunder may be transferred or assigned by Grantee other than: 

	
 
	

	
(1)by will or the laws of descent and distribution;

 

	
 
	

	
(2)in whole or in part to one or more transferees; provided that (i) any such transfer must be without consideration, (ii) each transferee must be a “family member” of Grantee, a trust established for the exclusive benefit of Grantee and/or one or more family member of Grantee or a partnership whose sole equity owners are Grantee and/or family members of Grantee, and (iii) such transfer is specifically approved by the Company’s General Counsel or the  Committee following the receipt of a completed Assignment of Restricted Stock Unit Award; or

 

(3)as otherwise set forth in an amendment to this Award.  

 

In the event the RSUs are transferred as contemplated in this Section 7(d), such transfer shall become effective when approved by the Company’s General Counsel or the Committee (as evidenced by counter execution of the Assignment of Restricted Stock Unit Award on behalf of the Company), and such RSUs may not be subsequently transferred by the transferee other than by will or the laws of descent and distribution.  Any transferred RSU shall continue to be governed by and subject to the terms and conditions of the 2016 PIP and this Agreement and the transferee shall be entitled to the same rights as Grantee as if no transfer had taken place.  Except as permitted by the foregoing, the RSUs and this Award may not be sold, transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment or similar process.  Upon any attempt to so sell, transfer, assign, pledge, hypothecate, encumber or otherwise dispose of the RSUs, the RSUs and all rights hereunder shall immediately become null and void.  As used in this Section, "family member" with respect to any person, includes any child, step-child, grandchild, parent, step-parent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law and sister-in-law, including adoptive relationships, and any person sharing the transferor's household (other than a tenant or employee).

 

 

 

(e)The Committee, as from time to time constituted, shall have the right to determine any questions which arise in connection with this Award, the RSUs or the Dividend Equivalents.  This Award and the RSUs are subject to the provisions of the 2016 PIP and shall be interpreted in accordance therewith.

 

IN WITNESS WHEREOF, the Company has caused this Award to be duly executed by its duly authorized officer.

LSC Communications, Inc.

By: 

Name: Suzanne S. Bettman

Title: Chief Administrative Officer

 

 

 

Accepted: ________________________

XXXXXExhibit

Exhibit 10.1

AMENDMENT NO. 2
THIS AMENDMENT NO. 2, dated as of October 24, 2017 (this “Amendment”), of the Credit Agreement referenced below is by and among HURON CONSULTING GROUP INC., a Delaware corporation, as Borrower, the Guarantors identified herein, and BANK OF AMERICA, N.A., as Administrative Agent for and on behalf of the Lenders.  Capitalized terms used but not otherwise defined herein shall have the meanings provided in the Credit Agreement.
W I T N E S S E T H
WHEREAS, a credit facility has been established in favor of the Borrower pursuant to the terms of that certain Second Amended and Restated Credit Agreement dated as of March 31, 2015 (as amended and modified, the “Credit Agreement”) by and among Huron Consulting Group Inc., a Delaware corporation, as Borrower, certain subsidiaries of Huron Consulting Group Inc., as Guarantors, the Lenders identified therein and Bank of America, N.A., as Administrative Agent and Collateral Agent;
WHEREAS, the Borrower has requested an amendment of the Credit Agreement in certain respects; and
WHEREAS, the Required Lenders have agreed to the requested amendment on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the premises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:
Section 1.Amendments.
1.1In Section 1.01 (Defined Terms) the definition of “Consolidated EBITDA” is amended by inserting the following immediately after the instance of “Consolidated Net Income” in clause (b) thereof:
“and without duplication of any amounts added back in the calculation thereof”
1.2In Section 1.01 (Defined Terms) the definition of “Consolidated Net Income” is amended to read as follows:
“Consolidated Net Income” means, for any period for the Borrower and its Subsidiaries, net income (or loss) determined on a consolidated basis in accordance with GAAP, but excluding, without duplication, any non-cash goodwill impairment charge and non-cash extraordinary gains or losses and related tax effects thereon.  Except as otherwise expressly provided, the applicable period shall be the four consecutive fiscal quarters ending as of the date of determination.
Section 2.Representations and Warranties, No Default.  Each of the Loan Parties hereby represents and warrants that as of the effective date of this Amendment, (i) no Default or Event of Default exists and is continuing, and (ii) all representations and warranties contained in the Credit Agreement are true and correct in all material respects on and as of the date hereof, as though made on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they were true and correct in all material respects as of such earlier date.
Section 3.Effectiveness.  This Amendment shall become effective on the date that the following conditions have been satisfied:
3.1Consents.  The Administrative Agent shall have received (a) signed consents to this Amendment from the Required Lenders, and (b) executed signature pages hereto from each Loan Party; and

Exhibit 10.1

3.2Fees and Expenses.   The Administrative Agent shall have received all fees required to be paid, and all expenses (including the reasonable fees and expenses of legal counsel), on or before the date hereof.
Section 4.Guarantor Acknowledgment.  Each Guarantor acknowledges and consents to all of the terms and conditions of this Amendment, affirms its Guaranteed Obligations under and in respect of the Loan Documents and agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge any Guarantor’s obligations under the Loan Documents, except as expressly set forth therein.
Section 5.Counterparts.  This Amendment may be executed in any number of counterparts and by different parties hereto on separate counterparts, each of which when so executed and delivered shall be deemed to be an original, but all of which when taken together shall constitute a single instrument.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile or any other electronic transmission shall be effective as delivery of a manually executed counterpart hereof.
Section 6.Applicable Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF ILLINOIS.
Section 7.Expenses.  The Borrower agrees to pay all reasonable costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment, including the reasonable fees and expenses of Moore & Van Allen PLLC.
Section 8.Headings.  The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.
Section 9.Effect of Amendment.  Except as expressly set forth herein, (i) this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Administrative Agent, any other Agent, the Swing Line Lender or the L/C Issuer, in each case under the Credit Agreement or any other Loan Document, and (ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of either such agreement or any other Loan Document.  Except as expressly set forth herein, each and every term, condition, obligation, covenant and agreement contained in the Credit Agreement or any other Loan Document is hereby ratified and re-affirmed in all respects and shall continue in full force and effect.  Each Loan Party reaffirms its obligations under the Loan Documents to which it is party and the validity of the Liens granted by it pursuant to the Collateral Documents.  This Amendment shall constitute a Loan Document for purposes of the Credit Agreement and from and after the effective date hereof, all references to the Credit Agreement in any Loan Document and all references in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, shall, unless expressly provided otherwise, refer to the Credit Agreement as amended by this Amendment.  Each of the Loan Parties hereby consents to this Amendment and confirms that all obligations of such Loan Party under the Loan Documents to which such Loan Party is a party shall continue to apply to the Credit Agreement as amended hereby.
[Signature pages follow]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.
	
		
	BORROWER:
	HURON CONSULTING GROUP INC.,
a Delaware corporation
By:      /s/ JOHN KELLY    
Name: John Kelly
Title: EVP, CFO and Treasurer

	GUARANTORS:
	HURON CONSULTING GROUP HOLDINGS LLC,
a Delaware limited liability company
By:      /s/ JOHN KELLY    
Name: John Kelly
Title: EVP, CFO and Treasurer

	 
	HURON CONSULTING SERVICES LLC,
a Delaware limited liability company
By:      /s/ JOHN KELLY   
Name: John Kelly
Title: EVP, CFO and Treasurer 

	 
	HURON MANAGEMENT SERVICES LLC,
formerly known as WELLSPRING MANAGEMENT SERVICES LLC, a Delaware limited liability company
By:      /s/ JOHN KELLY   
Name: John Kelly
Title: EVP, CFO and Treasurer

	 
	HURON DEMAND LLC,
a Delaware limited liability company
By:      /s/ JOHN KELLY    
Name: John Kelly
Title: EVP, CFO and Treasurer

	 
	HURON TECHNOLOGIES INC.,
a Delaware corporation
By:      /s/ JOHN KELLY    
Name: John Kelly
Title: EVP, CFO and Treasurer

AMENDMENT NO. 2
HURON CONSULTING GROUP INC.

	
		
	 
	STUDER HOLDINGS, INC.,
a Delaware corporation
By:      /s/ JOHN KELLY    
Name: John Kelly
Title: EVP, CFO and Treasurer

	 
	THE STUDER GROUP, L.L.C.,
a Florida limited liability company
By:      /s/ JOHN KELLY    
Name: John Kelly
Title: EVP, CFO and Treasurer

	 
	INNOSIGHT HOLDINGS, LLC,
a Delaware limited liability company
By:      /s/ JOHN KELLY    
Name: John Kelly
Title: EVP, CFO and Treasurer

	 
	INNOSIGHT INTERNATIONAL, LLC,
a Delaware limited liability company
By:      /s/ JOHN KELLY    
Name: John Kelly
Title: EVP, CFO and Treasurer

	 
	INNOSIGHT CONSULTING, LLC,
a Delaware limited liability company
By:      /s/ JOHN KELLY    
Name: John Kelly
Title: EVP, CFO and Treasurer

	 
	HURON AVIATION ONE LLC,
a Delaware limited liability company
By:      /s/ JOHN KELLY    
Name: John Kelly
Title: EVP, CFO and Treasurer

	 
	HURON AVIATION TWO LLC,
a Delaware limited liability company
By:      /s/ JOHN KELLY    
Name: John Kelly
Title: EVP, CFO and Treasurer

AMENDMENT NO. 2
HURON CONSULTING GROUP INC.

	
		
	ADMINISTRATIVE
AGENT:
	BANK OF AMERICA, N.A.,
as Administrative Agent and Collateral Agent

By:      /s/ KYLE D. HARDING    
Name: Kyle D. Harding
Title: Assistant Vice President

AMENDMENT NO. 2
HURON CONSULTING GROUP INC.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00276-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00276-of-00352.parquet"}]]