Document:

Exhibit

Exhibit 10.45

CONSULTING AGREEMENT

This Consulting Agreement (“Agreement”), effective as of March 1, 2019 (“Effective Date’) is by and between Altria Group Distribution Company (“AGDC”) and Craig A. Johnson (“Consultant”).  The parties agree as follows:
		
	1.
	TERM AND TERMINATION

1.1    Term.  The term of this Agreement begins on the Effective Date and, unless terminated or cancelled earlier, ends no later than December 31, 2019 (“Termination Date”).

1.2    Termination for Convenience.  Either party may terminate the Agreement at any time prior to the Termination Date by providing at least 30 days’ prior written notice to the other party.

1.3    Primary Contact.  Scott Myers, President and CEO of AGDC, will be Consultant’s primary point of contact for determining the Services to be performed under this Agreement.  Consultant also agrees to be available to the Chairman and CEO, the Vice Chairman and CFO and the CHRO of Altria Group, Inc. (“Altria”), as requested upon reasonable notice.

		
	2.
	SERVICES

2.1    Services.  Consultant will provide the following services as well as any other reasonable services requested by AGDC, Altria or one of the other Altria companies:  strategic consulting and engagement on transition of accounts, the maintenance of strong account relationships, and AGDC transformation (collectively referenced herein as “Services”).  Consultant must supply all materials, tools and equipment necessary for the proper performance of the Services.  Consultant must perform the Services in a timely manner and in accordance with AGDC’s or Altria’s reasonable requirements.  Time is of the essence.  Such Services are not expected to exceed 20% of the days included in the Term of this Agreement, or the equivalent in total hours.
		
	3.
	COMPENSATION

3.1     Rates.  AGDC will pay Consultant Fifty Thousand and 00/100 Dollars ($50,000.00) per month for all Services provided by Consultant (“Compensation”) during the defined Term expiring December 31, 2019. In the event this Agreement terminates prior to the Termination Date, AGDC will pay Consultant prorated Compensation for the month in which termination occurs to and including the effective date of termination.
3.2    Travel Expenses.  Except for travel, Consultant will bear all expenses he incurs in connection with performing Services under this Agreement. AGDC will reimburse Consultant at cost (with no mark-up) for reasonable travel expenses Consultant incurs in connection with the Services.
3.3    Records.  Consultant must maintain complete financial and other records related to the performance of the Agreement.  Consultant must retain these records for one year after final payment, or longer if required by governmental authorities with jurisdiction over Consultant or AGDC’s Records Management policies.

3.4    Rights and Authorizations.  Each party represents and warrants that it or he has the right, power and authority to enter into the Agreement.  Consultant further represents, warrants and covenants that, if he has granted any rights to AGDC under the Agreement, he has all the necessary rights and authorizations to do so.

		
	4.
	CONFIDENTIALITY AND NON-COMPETITION

4.1    Definition of Confidential Information.  Except as provided in Section 4.2, “Confidential Information” means any information or know-how (in any format) relating to AGDC or Altria, or which AGDC, Altria or any Altria company has agreed to maintain as confidential, that is disclosed to Consultant by or on behalf of AGDC, Altria or any Altria company.  Confidential Information specifically includes any confidential and proprietary information of a company in which Altria or any of its subsidiaries holds an equity interest that Consultant obtains, learns, prepares, or creates while providing services pursuant to this Agreement.  Consultant acknowledges that he is aware that Altria and/or its subsidiaries have agreements with such entities (i.e., those in which it has an equity interest) to maintain the confidentiality of the confidential and proprietary information of the entities.

“Confidential Information” includes but is not limited to: trade secrets; lists of and other non-public information about current and prospective customers; business plans or strategies; marketing plans; sales and account records; prices or pricing strategy or information; current and proposed non-public advertising and promotional programs; research or development projects or plans; non-public financial information; methods, systems, techniques, procedures, designs, formulae, inventions, discoveries, processes, concepts, ideas, know-how, works of authorship, hardware, computer software programs, databases, methods of manufacture and improvements thereof, whether or not it may be protected under any patent, copyright, trademark, trade secret or other principles; and other technical, technological, or business information of a similar nature not generally known to the public (other than by my breach of this Agreement), which if misused or disclosed, could adversely affect the business of AGDC, Altria and/or any Altria company (and/or any company in which an Altria or any of it subsidiaries holds an equity interest).  Confidential Information includes any such information that Consultant may prepare or create to provide or while providing Services under this Agreement, as well as such information that has been or may be created by others to which Consultant obtains access as a result of or through providing Services under this Agreement.
AGDC or Altria will mark Confidential Information that is disclosed to Consultant in writing as “Confidential,” or words with a similar meaning.  However, failure to mark information in this way will not affect whether information is Confidential Information under this Agreement.  Confidential Information also includes any information Consultant obtains through observation while providing Services pursuant to this Agreement.
4.2    Exceptions.  Confidential Information does not include information that is: (a) in or              enters the public domain through no act or fault of Consultant, (b) independently developed or known by Consultant prior to its disclosure to Consultant pursuant to this Agreement, (c) independently developed by Consultant without access to or use of any Confidential              Information as defined    above, or (d) disclosed to or received by Consultant (regardless of         

2

whether or not then in the public domain) from a source that was under no legal obligation to treat such information as confidential.

4.3    Use.  Consultant must hold all Confidential Information in strict confidence and use it only for the purposes of Consultant’s performance under this Agreement.  Under no circumstances may Consultant use Confidential Information for purposes of competing with, or acting contrary to the best interests of, AGDC, any Altria company or any company in which Altria and/or its subsidiaries own equity interests.  Nor shall Consultant use Confidential Information in a manner that interferes with AGDC’s customers.  

4.4    Non-Competition and Best Efforts.  During the term of this Consulting Agreement, Consultant will devote his time and best efforts to the performance of services hereunder, and will not enter into any agreement to provide consulting services to any competitor of (i) AGDC, (ii) any Altria company or (iii) any company in which Altria and/or its subsidiaries own equity interests on a topic contrary to, or inconsistent with, the interests of AGDC, Altria or any Altria company.  Consultant acknowledges and agrees that his Executive Confidentiality and Non-Competition Agreement dated February 7, 2011 (the “2011 Agreement”) remains in full force and effect.    

4.5    Disclosure.  Except as expressly set forth in this Agreement, Consultant may only disclose the Confidential Information to his employees, subcontractors and agents who need to know the Confidential Information for purposes of performance under this Agreement and who are subject to nondisclosure obligations comparable in scope to those set forth in this Agreement.  

4.6    Enforcement.  A violation of this Section 4 may cause AGDC, Altria or one or more Altria companies irreparable harm.  The effect of this harm may be difficult to ascertain, and the remedies at law may be inadequate to protect against this harm.  AGDC, Altria and the other Altria companies are therefore entitled to enforce Consultant’s obligations by injunction or specific performance, in addition to all other remedies otherwise available at law and in equity.  Consultant must pay all costs reasonably incurred by AGDC, Altria or one or more Altria companies in pursuing enforcement, including reasonable attorneys’ fees and court costs.

4.7    Security of Electronic Confidential Information.  Each party must protect all Confidential Information transmitted or stored in an electronic format consistent with recognized and accepted information technology security standards, to ensure the confidentiality, integrity, and availability of the Confidential Information.

4.8    Continuing Obligation.  Consultant agrees that the obligations in this Section 4 survive the expiration or termination of this Agreement.

		
	5.
	COMPLIANCE

5.1    All Laws.  Consultant must comply with all laws, rules, regulations, and ordinances applicable to Consultant’s performance under the Agreement.  Without limiting the generality of Consultant’s obligation to comply with all laws, Consultant must also comply with the U.S. Foreign Corrupt Practices Act and similar laws with effect outside of the U.S.

3

5.2    Code of Conduct and AGDC Policies.  Consultant acknowledges he is familiar with the Altria Code of Conduct and AGDC policies and procedures relevant to the performance of these Services.  Consultant agrees and warrants that he will continue to comply with the Code of Conduct and all such policies as they relate to his Services.

		
	6.
	MISCELLANEOUS

6.1    Governing Law.  The Agreement will be governed by and construed under the laws of the Commonwealth of Virginia, without regard to its conflicts of law rules.

6.2    Independent Contractor.  Consultant is an independent contractor.  Nothing in the Agreement will be deemed to create an association, partnership, joint venture, agency or employer and employee relationship between the parties.  Nothing in the Agreement authorizes either party to act as agent for the other or to enter into contracts on behalf of the other.

6.3    Severability.  If any part of this Agreement is for any reason found to be invalid, illegal or unenforceable, all other parts nevertheless remain valid, legal and enforceable.

6.4    Rights and Remedies Cumulative.  To the extent permitted by law, the rights and remedies in the Agreement are cumulative and not exclusive of any other right or remedy that might be available under the law.

6.8    Waiver.  If either party fails to require the other to perform any term of this Agreement, that failure does not prevent the party from later enforcing that term.  If either party waives the other party’s breach of a term, that waiver is not treated as waiving a later breach of that term.

6.9    Entire Agreement.  All attachments, exhibits and rules referenced in the Agreement are incorporated by reference and made part of the Agreement.  These documents and the 2011 Agreement constitute the entire agreement between the parties concerning the subject matter of this Agreement.
	
			
	Signatures:
	 
	 

	 
	 
	 

	Altria Group Distribution Company
	 
	Craig A. Johnson

	 
	 
	 

	 
	 
	 

	By: /s/ F. SCOTT MYERS
	 
	By: /s/ CRAIG A. JOHNSON

	 
	 
	 

	Name: F. Scott Myers
	 
	Name: Craig A. Johnson

	 
	 
	 

	Title: President & CEO AGDC
	 
	Title: Consultant

	 
	 
	 

4Exhibit

Exhibit 4(a)
OLIN CORPORATION
DESCRIPTION OF SECURITIES

DESCRIPTION OF COMMON STOCK

The following summary description of our common stock is not complete and is qualified in its entirety by reference to the detailed provisions of our Amended and Restated Articles of Incorporation, as further amended or restated, which we refer to in this exhibit as the Articles of Incorporation, our bylaws, as amended, which we refer to in this exhibit as the Bylaws, and applicable provisions of the laws of Virginia, our state of incorporation, including without limitation the Virginia Stock Corporation Act (VSCA).  These statements do not purport to be complete, or to give full effect to the terms of the provisions of statutory or common law, and are subject to, and are qualified in their entirety by reference to, the terms of the Articles of Incorporation and the Bylaws, each of which has been filed as an exhibit to (or incorporated by reference in) our Annual Report on Form 10-K filed with the Securities and Exchange Commission, and to applicable provisions of Virginia law.

General

Under the Articles of Incorporation, our authorized capital stock consists of 240,000,000 shares of common stock, par value $1.00 per share, and 10,000,000 shares of preferred stock, par value $1.00 per share, issuable in one or more series.  While at present we have only shares of common stock issued and outstanding, our Board of Directors is authorized by the Articles of Incorporation to provide in the future for issuance of the authorized preferred stock in one or more series, with such voting powers and with such designations, preferences and relative, participating, optional or other special rights, and qualifications, limitations or restrictions thereof, as shall be established by our board of directors or by a duly authorized committee thereof at such time.

The common stock is listed on The New York Stock Exchange under the trading symbol “OLN.”  All outstanding shares of our common stock are validly issued, fully paid and nonassessable.  The transfer agent and registrar for our common stock is EQ by Equiniti Shareowner Services.

Voting Rights and Election of Directors

Except as might otherwise be provided in any resolutions of the Board of Directors establishing the terms of a future series of preferred stock, holders of our common stock have the exclusive right to elect directors and are entitled to one vote per share on all matters submitted for action by the shareholders.  Shares representing a majority of the votes entitled to be cast on any matter, represented in person or by proxy at any meeting of shareholders, constitute a quorum for the transaction of business with respect to such matter.

Holders of common stock may not cumulate votes for the election of directors.  Under our Articles of Incorporation and Bylaws, the Board of Directors is divided into three classes, being as nearly equal in number as possible, with the directors in each class being elected to serve for a three-year term and until his or her successor shall have been duly elected or until such director’s death, resignation or removal.  

Our Bylaws provide that in an uncontested election of directors (that is, an election where the number of director nominees does not exceed the number of directors to be elected), each director nominee must receive the affirmative vote of a majority of the votes cast with respect to his or her election in order to be elected, meaning that the number of shares voted “for” a director must exceed the number of shares voted “against” that director.  The Bylaws provide that in any election of directors where there are more nominees for election than the number of directors to be elected, one or more of whom are properly proposed by shareholders, director nominees shall be elected by a plurality of the votes cast.

Our Bylaws provide that any director may be removed at any time but only with cause, by the affirmative vote of the holders of a majority of the outstanding shares entitled to vote in the election of directors, taken at a special meeting the purpose of which (or one of the purposes, as stated in the meeting notice) is removal of the director.  Any vacancy on our Board caused by a director’s death, resignation, disqualification or removal, or an increase in the number of directors, or for any other reason, may be filled (a) by vote of the shareholders, but only at an annual meeting of shareholders, or (b) by the affirmative vote of a majority of the remaining directors, regardless of the presence of a quorum, at an regular or special meeting of the Board.  A director so elected by the Board shall hold office only until the next annual election of directors, while a director so elected by shareholders shall hold office until the term of the class to which he or she has been elected expires, and in each case until his or her successor shall have been duly elected or until such director’s death, resignation or removal.

Dividend and Liquidation Rights

Holders of our common stock are entitled to dividends as declared by our board of directors from time to time in the manner and upon the terms and conditions provided in Virginia law and in the Articles of Incorporation, after payment of, or provision for, full cumulative dividends on and any required redemptions of shares of any preferred stock then outstanding.  

In the event of the liquidation, dissolution or winding up of our business, holders of common stock are entitled to receive pro rata all our remaining assets available for distribution, after satisfaction of the prior preferential rights of any then-outstanding preferred stock and the satisfaction of all our debts and liabilities.

Other Rights

Holders of our common stock have no preemptive or subscription rights and have no liability for further calls or assessments.  Our common stock is not convertible or exchangeable into any other securities and is not subject to any redemption or sinking fund provisions.

Advance Notice for Shareholder Proposals and Nominations

Our Bylaws contain provisions requiring advance notice be delivered to the Company of any business to be brought by a shareholder before an annual meeting and providing for procedures to be followed by shareholders in nominating persons for election to our Board of Directors.  For business to be brought by a shareholder before an annual meeting, or for shareholder nominations for election to the Board of Directors, a shareholder must give notice no later than 90 days prior to the anniversary of the date of the preceding year’s annual meeting.  In each case, the notice must contain the information required by our Bylaws, and the shareholder(s) and nominee(s) must comply with the information and other requirements required by our Bylaws.

Special Meetings of Shareholders

Our Bylaws provide that special meetings of shareholders, for any purpose or purposes, unless otherwise provided by law or the Articles of Incorporation, may be called by the Chairman of the Board of Directors, the President or the Board of Directors, or by the holders of a majority of the shares of the issued and outstanding stock entitled to vote at the meeting.

Anti-Takeover Provisions

Various provisions of the VSCA, as well as the provisions of our Articles of Incorporation and Bylaws governing the election of directors, could have the effect of delaying or discouraging some transactions involving an actual or potential change in control of our company or its management.  However, Article VIII, Section 6 of our Bylaws provides that Article 14.1 - Control Share Acquisitions of the VSCA (which, in general, would limit the voting rights of holders engaging in certain acquisitions of our shares in excess of certain thresholds specified in that statute, absent the approval of our shareholders) shall not apply to acquisitions of our shares. 

Amendments of Articles of Incorporation and Bylaws

In general, any amendment or restatement of the Articles of Incorporation is subject to approval by a majority of the votes entitled to be cast by each voting group of our stockholders entitled to vote thereon, unless the Board of Directors shall require a greater vote.  Our Bylaws provide that they may be altered, amended or repealed, and new Bylaws adopted, by action of the Board (except as otherwise limited in the Bylaws) or by vote of our shareholders at an annual or special meeting where notice of such amendment has been duly given.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}]]