Document:

exv10w1

 

Exhibit 10.1

Summary of Changes being made to Profit Sharing 401(k) Plan for Employees of

Trinity Industries, Inc. and Certain Affiliates

The Profit Sharing Plan for Employees of Trinity Industries, Inc. and Certain Affiliates will be restated in 2005 to add a company-paid Annual Retirement
Contribution (“ARC”) and a company-paid Start-Up Contribution. The ARC will be available to all eligible employees regardless of whether or not a
participant makes salary deferrals. The amount of the ARC will be based on years of service as of December 31st of each year and will vest over 5 years.
The Start-Up Contribution is only available to Company employees who elected to freeze their pension plan benefit and participate in the enhanced 401(k)
plan. The Start Up contribution is based on years of service, with a minimum of $500 and a maximum of $1,000.exv10w2

 

Exhibit 10.2

TRINITY INDUSTRIES, INC.

NON-EMPLOYEE DIRECTOR

RESTRICTED STOCK UNIT AGREEMENT

     THIS
AGREEMENT, dated as of _____ ______, ___ (“Grant Date”) by and between Trinity Industries, Inc., a Delaware Corporation (“Company”), and
name (“Director”), is entered into as follows:

     WHEREAS, the Company has established the Trinity Industries, Inc. 2004 Stock Option and Incentive Plan (“Plan”), and which Plan is made a part
hereof;

     WHEREAS, terms defined in the Plan shall have the same meaning in this Agreement unless otherwise specifically stated; and

     WHEREAS, the Board of Directors of the Company has determined that the Director be granted Restricted Stock Units subject to the terms of the Plan
and the terms stated below, as hereinafter set forth;

     NOW, THEREFORE, the parties hereby agree as follows:

	1.  	Grant of Units
	 
	   	Subject to the terms and conditions of this Agreement and of the Plan, the Company hereby credits to a separate account maintained on the books of
the Company (“Account”) ___ Restricted Stock Units (“Units”). Each Unit shall be subject to conversion into a share of the Company’s $1.00 par
value Common Stock (“Stock”) as herein provided.
	 
	2.  	Vesting Schedule
	 
	   	The interest of the Director in the Units shall immediately vest as to 100% of such Units.
	 
	3.  	Restrictions
	 
	   	The Units granted hereunder may not be sold, pledged or otherwise transferred and may not be subject to lien, garnishment, attachment or other legal
process.
	 
	4.  	Dividend Equivalents
	 
	   	If on any date the Company shall pay any dividend or other distribution on the Stock (other than a dividend in Stock), the Director shall be paid an
amount in cash for each Unit equal to the amount of dividend paid on the Stock, less any amounts required to be held for federal, state or local
withholding taxes; provided however, in the event of a distribution to stockholders of the Company of assets or a distribution of the stock of a
subsidiary as a dividend or spin off, the Board of Directors of the Company will

 

 

	   	determine in its absolute discretion the equitable treatment for
the Units granted by this Agreement.
	 
	5.  	Changes in Stock
	 
	   	In the event of any change in the number and kind of outstanding shares of Stock by reason of a subdivision or consolidation of the Stock or the
payment of a stock dividend (but only in Stock) or any other increase or decrease in the number of shares of Stock effected without receipt of
consideration, the Company shall make an appropriate adjustment in the number and terms of the Units credited to the Director’s Account so that,
after such adjustment, the Units shall represent a right to receive the same number of shares of Stock that the Director would have received in
connection with such increase or decrease in shares of Stock as if Director had owned on the applicable record date a number of shares of Stock
equal to the number of Units credited to the Director’s Account prior to such adjustment.
	 
	6.  	Form and Timing of Payment
	 
	   	The Company shall distribute to the Director a number of shares of Stock equal to the aggregate number of vested Units credited to the Director
within 60 days from the date the Director’s service as a member of the Board of Directors of the Company terminates for any reason or earlier upon a
“Change of Control” as defined by Section 409A of the Internal Revenue Code.
	 
	7.  	Taxes
	 
	   	The Director shall be liable for any and all taxes, including required withholding taxes, arising out of this grant or the vesting of Units
hereunder. The Director may elect to satisfy any minimum withholding tax obligation that the Company is required to make by making an election for
the Company to retain Stock having a Fair Market Value equal to the Company’s withholding obligation.
	 
	8.  	Miscellaneous

	 	(a)  	All amounts credited to the Director’s Account under this Agreement shall continue for all purposes to be a part of the general assets of the
Company. The Director’s interest in the Account shall make Director only a general, unsecured creditor of the Company.
	 
	 	(b)  	The parties agree to execute such further instruments and to take such action as may reasonably be necessary to carry out the intent of this
Agreement.
	 
	 	(c)  	Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon delivery to the Director at
Director’s address then on file with the Company.
	 
	 	(d)  	Neither the Plan nor this Agreement nor any provisions under either shall be construed so as to grant the Director any right to remain as a Director
of the Company.

 

 

	 	(e)  	Except as provided in paragraph 4 hereof, nothing herein shall be construed as to grant Director any stock ownership rights commonly associated with
stock ownership including voting rights.

	 
	 	(f)  	This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof.

       IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the day and year first hereinabove written.

	 	 	 	 	 
	

	 	TRINITY
	 	INDUSTRIES, INC.
	 
	 	 	 	 
	
	 	By	 	 
	

	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	

	 	 	 	 
	

	 	 	 	Directorexv10w1

 

Exhibit 10.1

STOCK PURCHASE AGREEMENT

     STOCK PURCHASE AGREEMENT, dated as of April 28, 2005, between BancWest Corporation, a Delaware
corporation (“Seller”), and BNP Paribas, a French société anonyme (“Buyer”).

     WHEREAS, Seller owns 3,663,173 issued and outstanding shares of Common Stock, par value $5.00
per share (the “Shares”), of Bank of the West, a Californian banking corporation, (the “Bank”); and

     WHEREAS, on November 1, 2004, the Seller acquired all of the 100 outstanding common shares of
Community First Bankshares, Inc.; and

     WHEREAS, on December 3, 2004, Seller contributed to Bank all of the outstanding common shares
of Community First Bankshares, Inc. and Seller received in exchange for its contribution, 499,980
shares of common shares of the Bank, including the shares represented by the share certificate
number 39 issued by the Bank on April 25, 2005, representing 254,132 common shares of the Bank with
an aggregate fair market value and U.S. Federal income tax basis of $590 million (the “Tranche B
Minority Shares”);

     WHEREAS, Buyer desires to purchase the Tranche B Minority Shares from Seller upon the terms
and conditions hereinafter set forth; and

     WHEREAS, Buyer and Seller have entered into a Stockholders’ Agreement of even date herewith
(the “Stockholders’ Agreement”) concerning the Tranche B Minority Shares;

     NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements set
forth herein, the parties hereto agree as follows:

     1. Sale of Tranche B Minority Shares. Upon the terms and subject to the conditions
set forth in this Agreement, Seller shall sell, transfer and assign the Tranche B Minority Shares
to Buyer, and Buyer shall purchase the Tranche B Minority Shares from Seller for an aggregate
purchase price of $590,000,000 (the “Purchase Price”). Closing of the transactions contemplated
hereby shall occur on April 28, 2005, or such other date as the parties may mutually agree (the
“Purchase Date”). On the Purchase Date, (i) Seller shall deliver to Buyer Bank share certificate
number 39 for the Tranche B Minority Shares duly endorsed to Buyer, or accompanied by a stock power
duly endorsed to Buyer, and (ii) Buyer shall deliver $590,000,000 to Seller by interbank transfer
in immediately available funds to an account designated by Seller.

     2. Representations and Warranties of Seller. Seller hereby represents and warrants to
Buyer as follows:

	 	(a)  	Due Authorization; Enforceable Obligation. Seller has full
power and authority to execute and deliver this Agreement and to perform its
obligations hereunder. This Agreement has been duly authorized by all necessary
corporate action on the part of Seller, has been duly executed and

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	 	   	delivered by Seller and constitutes the valid and binding obligation of Seller
enforceable against Seller in accordance with its terms.
	 
	 	(b)  	Conflicting Instruments. Neither the execution and delivery of
this Agreement nor the consummation of the transactions contemplated hereby will
violate or result in any violation of or be in conflict with or constitute a
default under any term of the Certificate of Incorporation or By-Laws of Seller
or any judgment, decree or order of any court or administrative body applicable
to it or any agreement or other instrument or law applicable to it.
	 
	 	(c)  	Title. Except as provided in this Agreement, (i) Seller is the
record and beneficial owner of the Tranche B Minority Shares with sole power to
vote and to dispose of the Tranche B Minority Shares and (ii) the Tranche B
Minority Shares are owned by Seller free and clear of all security interests,
liens, claims, encumbrances, charges, restrictions on transfer, proxies and
voting and other agreements.
	 
	 	(d)  	Delivery. Seller has, and upon consummation of the transactions
contemplated hereby Buyer will acquire, good and marketable title to the Tranche
B Minority Shares, free and clear of all security interests, liens, claims,
encumbrances, charges, restrictions on transfer, proxies and voting and other
agreements.

     3. Representations and Warranties of Buyer. Buyer hereby represents and warrants to
Seller that (i) this Agreement has been duly authorized by all necessary corporate action on the
part of Buyer, (ii) this Agreement has been duly executed and delivered by Buyer and (iii) this
Agreement constitutes the valid and binding obligation of Buyer enforceable against Buyer in
accordance with its terms.

     4. Miscellaneous

	 	(a)  	Severability. If any term, provision, covenant or restriction
of this Agreement is held by a court of competent jurisdiction to be invalid,
void or unenforceable, the remainder of the terms, provisions, covenants and
restrictions of this Agreement shall remain in full force and effect and shall in
no way be affected, impaired or invalidated.
	 
	 	(b)  	Assignment. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and permitted
assigns, but neither this Agreement nor any rights hereunder shall be assigned by
Buyer without the prior written consent of the Seller.
	 
	 	(c)  	Entire Agreement; Amendments. This Agreement constitutes the
entire agreement of the parties with respect to the subject matter hereof,
notwithstanding any provision of any such documents to the contrary. This
Agreement may not be modified, amended, altered or supplemented except upon
execution and delivery of a written agreement executed by the Buyer and Seller.
	 
	 	(d)  	Notices. All notices, requests, claims, demands and other
communications hereunder shall be in writing and shall be given (and shall be
deemed to have

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	 	   	been duly received if so given) by delivery in person or by cable, telegram or
telex to the respective parties as follows:
	 
	 	   	If to Seller:
	 
	 	   	BancWest Corporation

180 Montgomery Street, 25th Floor

San Francisco, CA 94104

Telecopy: (415) 834-9432

Attention: General Counsel & Secretary
	 
	 	   	If to Buyer:
	 
	 	   	BNP Paribas

3 rue d’Antin

75009 Paris, FRANCE

Telecopy: + 33 1 40 14 93 96

Attention: M. Philippe Bordenave
	 
	 	  	or to such other address as any party may have furnished to the other in
writing in accordance herewith.
	 
	 	(e)  	Governing Law. This Agreement shall be governed by and construed
in accordance with the laws of the State of New York applicable to contracts made
and to be performed entirely in such state.
	 
	 	(f)  	Counterparts. This Agreement may be executed in several
counterparts, each of which shall be an original, but all of which together shall
constitute one and the same agreement.
	 
	 	(g)  	Effect of Headings. The section headings herein are for
convenience only and shall not affect the construction hereof.
	 
	 	(h)  	Further Assurances. Seller shall, upon the reasonable request by
Buyer, execute and deliver any additional documents necessary or desirable to
complete the sale, conveyance, transfer and assignment of the Tranche B Minority
Shares.
	 
	 	(i)  	Survival. The warranties, representations, covenants and
agreements made pursuant to this Agreement shall survive and continue
irrespective of any investigation made by or on behalf of any party.
	 
	 	(j)  	Specific Performance. Seller acknowledges that performance of
its obligations hereunder will confer a unique benefit on Buyer and, accordingly,
that a failure of performance by Seller cannot be compensated adequately by money
damages. Buyer shall therefore be entitled, without prejudice to any other
rights and remedies otherwise available to it, to specific performance of all
obligations of Seller hereunder.

* * *

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     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the day and year first above written.

	 	 	 	 	 
	 	BNP PARIBAS S.A.

 	 
	 	By:  	/s/ Javier Gonzalez
 	 
	 	 	Name:  	Javier Gonzalez 	 
	 	 	Title:  	Gestion Financiere 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	                                            /s/ Francois Demon
 	 
	 	 	Name:  	Francois Demon 	 
	 	 	Title:  	Head of Financial Management 	 
	 

	 	 	 	 	 
	 	BANCWEST CORPORATION

 	 
	 	By:  	/s/ Janice C. Decker
 	 
	 	 	Name:  	Janice C. Decker 	 
	 	 	Title:  	Assistant Secretary 	 
	 

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