Document:

exv10w65

 

	 	 	 	 	 

EXHIBIT 10.65

CUISINE SOLUTIONS, INC.

SUMMARY OF CHAIRMAN COMPENSATION ARRANGEMENT

As of November 10, 2006, the Board of Directors of Cuisine Solutions, Inc. (the “Company”)
approved, upon the recommendation of the Compensation Committee, the compensation of the Company’s
Chairman of the Board through the payment of a monthly retainer of $10,000 per month for his duties
as the Chairman, and the continuation of the Chairman’s per diem in the amount of $500 per day for
the time that he is in the U.S. working on Company business.

29exv10w42

 

Exhibit 10.42

Amendment to Employment Agreement

Brian Hajost and SteelCloud, Inc agree this 19th date of April 2006 to amend the
employment agreement dated June 8, 2004 as follows:

	 	1.	 	Paragraph 2(a) is deleted and replaced with the following:

	 	a.	 	The term of employment under this agreement shall
end on June 8, 2006; provided, the term of this agreement may be extended
upon agreement by both parties from month to month or for as many months as
the parties may agree during the term or any extended term. During the term
of this agreement or any extended term, Employee shall devote substantially
all of his business time and efforts to Employer and its subsidiaries and
affiliates. Employment cannot be terminated from the date of execution of
this amendment until June 8, 2006 unless for cause as defined in 9(a)(i).

	 	2.	 	Employer shall (a) pay Employee $200,000 in severance pay as a
one-time severance payment, within 30 days after his last by of employment, and
(b) pay the premiums on Employee’s participation in Company-sponsored health
insurance (assuming Employee elects to continue such participation) for 18
months following Employee’s last by of employment; provided if Employer and
Employee mutually agree in writing to extend the duration of Employee’s
employment until June 8, 2007 or later, Employer shall not be obligated to
comply with subsections (a) and (b) hereof.
	 
	 	3.	 	Paragraphs 9(a)(ii), 9(a)(iii) and 9(b) are deleted.
	 
	 	4.	 	Paragraph 10 is deleted.
	 
	 	5.	 	Paragraph 14(b) is amended by deleting the references to Paragraphs 9 and 10.
	 
	 	6.	 	All other terms and conditions shall remain in effect.

               IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the day and
year first above written.

	 	 	 	 	 
	 	STEELCLOUD INC.

 	 
	 	By:  	                       /s/ Thomas P. Dunne
 	 
	 	 	Thomas P. Dunne 	 
	 	 	Chief Executive Officer 	 
	 

	 	 	 	 	 
	 

	 	/s/ Brian Hajost
 

Brian Hajostexv10w1

 

Exhibit 10.1

MARTIN RESOURCE MANAGEMENT CORPORATION

PURCHASE PLAN FOR UNITS OF MARTIN MIDSTREAM PARTNERS, L.P.

(Effective July 1, 2006)

1. Purpose

     The Martin Resource Management Corporation Purchase Plan for Units of Martin Midstream
Partners L.P. (the “Plan”) is designed to promote the interests of Martin Midstream Partners L.P.,
a Delaware limited partnership (the “Partnership”) and Martin Resource Management Corporation, a
Texas corporation (the “Company”) by providing to employees of the Company and its Affiliates who
perform services for the Partnership, where permitted by applicable laws and regulations, the
opportunity to acquire an equity interest in the Partnership through the purchase of common units
of the Partnership (“Units”). It is not intended that this Plan constitute an “employee stock
purchase plan” within the meaning of Section 423 of the Internal Revenue Code of 1986, as amended.

2. Administration of the Plan

     The Plan shall be administered and interpreted by a plan administration committee (the
“Committee”) appointed by the Board of Directors of the Company (the “Board”), which Committee
shall consist of at least two persons. The Committee shall supervise the administration and
enforcement of the Plan according to its terms and provisions and shall have all powers necessary
to accomplish these purposes and discharge its duties hereunder including, but not by way of
limitation, the power to (i) employ and compensate agents of the Committee for the purpose of
administering the accounts of participating employees; (ii) construe and interpret the Plan; (iii)
determine all questions of eligibility; and (iv) compute the amount and determine the manner and
time of payment of all benefits according to the Plan.

     The Committee may act by decision of a majority of its members at a regular or special meeting
of the Committee or by decision reduced to writing and signed by all members of the Committee
without holding a formal meeting.

3. Nature and Number of Units

     The Units subject to issuance under the terms of the Plan shall be authorized but unissued
Units, previously issued Units reacquired and held by the Company or Units purchased on the open
market. The aggregate number of Units that may be issued under the Plan shall not exceed 500,000.
All Units purchased under the Plan, regardless of source, shall be counted against the 500,000 Unit
limitation.

     In the event of any reorganization, split, reverse split, distribution, combination of Units,
merger, consolidation, offering of rights or other similar change in the capital structure of the
Partnership, the Committee may make such adjustment, if any, as it deems appropriate in the number,
kind and purchase price of the Units available for purchase under the Plan and in the

 

 

maximum number of Units that may be issued under the Plan, subject to the approval of the
Board and in accordance with Section 18.

4. Eligibility Requirements

     Each “Employee” (as hereinafter defined) who performs services for the benefit of the
Partnership, as determined by the Committee, shall be eligible for enrollment in the Plan in
accordance with Section 5 on the first “Enrollment Date” (as defined therein) following employment
by the Company or an Affiliate. Participation in the Plan is voluntary.

     “Employee” shall mean any individual employed by the Company or an Affiliate (as hereinafter
defined). “Affiliate” shall mean any entity (a) that directly or indirectly, through one or more
intermediaries, controls, is controlled by or is under common control with, the entity in question.
As used herein, the term “control” means the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of an entity, whether through
ownership of voting securities, by contract or otherwise; and (b) which has adopted the Plan with
the approval of the Committee.

5. Enrollment

     Each eligible Employee of the Company on June 30, 2006, may enroll in the Plan as of July 1,
2006 (the “Effective Date”). Each Employee of the Company who thereafter becomes eligible to
participate may enroll in the Plan as of January 1, 2007, or, if later, the first January 1 or July
1 following the date he first meets the eligibility requirements of Section 4. Any eligible
Employee not enrolling in the Plan when first eligible may enroll in the Plan as of any subsequent
January 1 or July 1. Any eligible Employee may enroll or re-enroll in the Plan as of the dates
hereinabove prescribed or such other specific dates established by the Committee from time to time
(“Enrollment Dates”). In order to enroll, an eligible Employee must complete, sign and submit the
appropriate form to the person designated, or otherwise satisfy any telephonic or electronic
enrollment procedure established, by the Committee.

6. Method of Payment

     Payment for Units is to be made as of the applicable “Purchase Date” (as defined in Section 9)
with funds accumulated through payroll deductions on an after-tax basis (with no right of
prepayment) over the Plan’s designated purchase period (the “Purchase Period”), with the first such
deduction commencing as soon as administratively practicable following the Enrollment Date and
after the Employee has satisfied the enrollment requirements of Section 5. Each Purchase Period
under the Plan shall be a period of six months beginning on each January 1 and July 1 and ending on
the following June 30 or December 31 or such other period as the Committee may prescribe. Each
participating Employee (hereinafter referred to as a “Participant”) will authorize deductions from
his pay for each payroll period during the Purchase Period and such amounts will be deducted in
conformity with his employer’s payroll deduction schedule.

     Each Participant may elect to make contributions each pay period in amounts not less than one
percent of compensation and not more than 10 percent of compensation (or such other percentages as
the Committee may establish from time to time before an Enrollment Date for all

 

 

purchases to occur during the relevant Purchase Period). For all purposes of the Plan,
compensation shall mean salary or wages plus bonuses, overtime and any commissions paid. The rate
of contribution shall be designated by the Participant at the time of enrollment.

     A Participant may elect to increase or decrease the rate of contribution effective as of the
first day of a Purchase Period by giving prior written notice to the person designated by the
Committee on the appropriate form, or by such other method or procedure prescribed by the
Committee. A Participant may not elect to increase or decrease the rate of contribution during a
Purchase Period. A Participant may suspend payroll deductions at any time during the Purchase
Period, by giving prior written notice to the person designated by the Committee on the appropriate
form, or by such other method or procedure prescribed by the Committee. A Participant’s election
to suspend his payroll deductions will be treated as an election to withdraw his entire
contributions for the current Purchase Period. Any Participant who withdraws his contributions
will receive, as soon as administratively practicable, the amount accumulated for the Participant
during the Purchase Period. All such contributions shall be returned through the normal payroll
system. Any Participant who suspends payroll deductions and withdraws contributions during any
Purchase Period cannot resume payroll deductions during such Purchase Period and must re-enroll in
the Plan in order to participate in the next Purchase Period.

     Except in the case of a Participant’s suspension of payroll deductions or termination of
employment, the amount in a Participant’s account at the end of the Purchase Period will be applied
to the purchase of Units.

7. Crediting of Contributions

     Contributions shall be credited to a bookkeeping account maintained for such purpose for each
Participant as soon as administratively practicable after payroll withholding. Participant
contributions will not be maintained in segregated accounts and will not be credited with interest
at any time.

8. Grant of Right to Purchase Units on Enrollment

     Enrollment in the Plan by an Employee on an Enrollment Date will constitute the grant by the
Company to the Participant of the right to purchase Units under the Plan. Re-enrollment by a
Participant in the Plan will constitute a grant by the Company to the Participant of a new
opportunity to purchase Units on the Enrollment Date on which such re-enrollment occurs. A
Participant who has not (a) terminated employment or (b) withdrawn his contributions from the Plan,
will have Units purchased for him on the applicable Purchase Date, and he will automatically be
re-enrolled in the Plan on the Enrollment Date immediately following the Purchase Date on which
such purchase has occurred, unless such Participant notifies the person designated by the Committee
in the appropriate manner that he elects not to re-enroll.

     Each right to purchase Units under the Plan during a Purchase Period shall have the following
terms:

          (a) the right to purchase Units during a particular Purchase Period shall expire on the
earlier of: (i) the completion of the purchase of Units on the Purchase Date occurring in

 

 

the Purchase Period, or (ii) the date on which participation of such Participant in the Plan
terminates for any reason;

          (b) payment for Units purchased will be made only through payroll withholding in accordance
with Sections 6 and 7;

          (c) purchase of Units will be accomplished only in accordance with Section 9;

          (d) the price per Unit will be determined as provided in Section 9;

          (e) the right to purchase Units will in all respects be subject to the terms and conditions of
the Plan, as interpreted by the Committee from time to time.

9. Purchase of Units

     The right to purchase Units granted by the Company under the Plan is for the term of a
Purchase Period. The fair market value of the Units (“Fair Market Value”) to be purchased during
such Purchase Period shall mean the closing sales price of a Unit on the last trading days of the
calendar months of June and December, or such other trading dates designated by the Committee (the
“Purchase Date”) (or if there is no trading in the Units on such date, the closing sales price on
the last date the Units were traded) as reported in The Wall Street Journal (or other reporting
service approved by the Committee). In the event Units are not publicly traded at the time a
determination of Fair Market Value shall be made in good faith by the Committee.

     As of the Purchase Date, the Committee shall apply the funds then credited to each
Participant’s bookkeeping account to the purchase of Units. The cost to the Participant for the
Units purchased during a Purchase Period shall be the Fair Market Value of Units on the Purchase
Date, less any applicable discount authorized by the Committee (the “Purchase Price”). If the
Committee has authorized the sale of Units at a discount with respect to any Purchase Date, the
Company shall, if Units are purchased on the open market, remit to the entity designated by the
Committee to assist it with the administration of the Plan (the “Custodian”) the difference between
the Fair Market Value of the Units acquired for a Participant and the amount accumulated in the
Participant’s bookkeeping account. If Units are acquired from the Company, in whole or in part,
the Units so acquired shall be issued at the Purchase Price.

     Certificates evidencing Units purchased shall be delivered to the Custodian or delivered to
the Participant (if the Participant has elected by written notice to the Committee to receive the
certificate) as soon as administratively practicable after the Purchase Date. Units that are held
by the Custodian shall be held in a separate account in the name of the Participant. Each
Participant shall be credited with the number of whole and fractional Units acquired for such
Participant on the Purchase Date. Except as otherwise provided pursuant to a procedure established
by the Committee, cash distributions on Units held in a Participant’s account in the Plan will be
used to purchase Units. Purchases of Units with cash distributions paid on Units held in a
Participant’s account shall be made on the open market by the Custodian; provided, however, that if
the Partnership has notified the Custodian that it is willing to sell authorized but unissued Units
or previously issued Units that have been reacquired and held by the Partnership, the Custodian
shall, at its election, purchase any Units made available by the Partnership at a price equal to
the Fair Market Value of such Units on the business day next preceding the date of such purchase.

 

 

     Any Participant (i) who purchases Units at the end of a Purchase Period and is not re-enrolled
in the Plan for the next Purchase Period or (ii) who withdraws his contributions from the Plan
prior to the next Purchase Date shall have a certificate for the number of whole Units held in his
account and cash for any fractional Unit in his account retained by the Custodian. Until such
certificates are distributed to the Participant, the Participant will not be permitted to transfer
ownership of the certificates except as contemplated by Section 10 or Section 14 of the Plan. Any
Participant who terminates employment will receive a certificate for the number of Units held in
his account and cash for any fractional Unit and any accumulated contributions.

     The Company is authorized to withhold from any other amounts payable to a Participant, or it
may require the Participant to pay to the Company, all applicable taxes payable upon purchase of
any Units and to take such other action as may be necessary in the opinion of the Company to
satisfy its withholding obligations for the payment of such taxes.

     If as of any Purchase Date the Units authorized for purchase under the Plan are exceeded,
enrollments shall be reduced proportionately to eliminate the excess. Any funds that cannot be
applied to the purchase of Units due to excess enrollment shall be refunded as soon as
administratively practicable.

10. Withdrawal and Sale of Units

     A Participant may elect to withdraw at any time (without withdrawing from participation in the
Plan) Units in his account by giving notice to the person designated by the Committee in the
appropriate manner. Upon receipt of such notice from the person designated by the Committee, the
Custodian will arrange for the issuance and delivery of such Units held in the Participant’s
account as soon as administratively practicable.

     Notwithstanding anything in the Plan to the contrary, a Participant may sell Units that are
held in his account by giving notice to the person designated by the Committee in the appropriate
manner. Upon receipt of such notice from the person designated by the Committee, the Custodian
will arrange for the sale of such Participant’s Units. Any sale will be deemed to occur on the
last business day of the month in which the Participant provides such notice to the person
designated by the Committee, or at such other time as the Committee shall establish. The proceeds
of any sale under this subsection 10(b), less any associated commissions, shall be paid to the
Participant as soon as practicable after the sale.

11. Termination of Participation

     The right to participate in the Plan terminates immediately when a Participant ceases to be
employed by the Company or an Affiliate for any reason whatsoever (other than the death of the
Participant, but including retirement and disability) or the Participant otherwise becomes
ineligible. Participation terminates immediately after the Purchase Date if the Participant is not
re-enrolled in the Plan for the next Purchase Period or if the Participant has suspended payroll
deductions during any Purchase Period and has not re-enrolled in the Plan for the next Purchase
Period. An individual shall also not lose the right to have Units purchased for his account if he
is transferred to an entity that would qualify as an Affiliate except that it has not adopted the
Plan. In any such case Units will be purchased with amounts maintained in such account as of the
date

 

 

of such transfer. The Participant shall not participate thereafter unless he again becomes
employed by the Company or an Affiliate.

12. Unpaid Leave of Absence

     Unless the Participant has voluntarily withdrawn his contributions from the Plan, Units will
be purchased for his account on the Purchase Date next following commencement of an unpaid leave of
absence by such Participant, provided such leave does not constitute a termination of employment.
The number of Units to be purchased will be determined by applying to the purchase the amount of
the Participant’s contributions made up to the commencement of such unpaid leave of absence. If
the Participant’s unpaid leave of absence both commences and terminates during the same Purchase
Period and he has resumed eligible employment prior to the Purchase Date related to that Purchase
Period, he may also resume payroll deductions immediately, and Units will be purchased for him on
such Purchase Date as otherwise provided in Section 9.

13. Designation of Beneficiary

     Each Participant may designate one or more beneficiaries in the event of death and may, in his
sole discretion, change such designation at any time. Any such designation shall be effective upon
receipt by the person designated by the Committee and shall control over any disposition by will or
otherwise.

     As of the next Purchase Date following the death of a Participant, amounts credited to his
account shall be, at the election of the Participant’s designated beneficiary or, in the absence of
such designation, of the executor, administrator or other legal representative of the Participant’s
estate, paid in cash or applied to the purchase of Units as provided in Section 9, and in such case
a certificate for any Units shall be delivered to such person. Such payment or delivery shall
relieve the Company of further liability to the deceased Participant with respect to the Plan. If
more than one beneficiary is designated, each beneficiary shall be permitted to make such an
election, unless the Participant has given express contrary instructions.

14. Assignment

     Except as provided in Section 13, the rights of a Participant under the Plan will not be
assignable or otherwise transferable by the Participant, other than by will or the laws of descent
and distribution. No purported assignment or transfer of such rights of a Participant under the
Plan, whether voluntary or involuntary, by operation of law or otherwise, shall vest in the
purported assignee or transferee any interest or right therein whatsoever, but immediately upon
such assignment or transfer, or any attempt to make the same, such rights shall terminate and
become of no further effect. If this provision is violated, the Participant’s election to purchase
Units shall terminate, and the only obligation of the Company remaining under the Plan will be to
pay to the person entitled thereto the amount then credited to the Participant’s account. No
Participant may create a lien on any funds, securities, rights or other property held for the
account of the Participant under the Plan, except to the extent that there has been a designation
of beneficiaries in accordance with the Plan, and except to the extent permitted by will or the
laws of descent and distribution if beneficiaries have not been designated. A Participant’s right
to purchase Units under the Plan shall be exercisable during the Participant’s lifetime only by
him.

 

 

15. Costs

     All costs and expenses incurred in administering this Plan shall be paid by the Company. Any
brokerage fees for the sale or transfer of Units purchased under the Plan shall be paid by the
Participant.

16. Reports

     At the end of each Purchase Period, the Company shall provide or cause to be provided to each
Participant a report of his contributions and the number of Units purchased with the amount
credited to the Participant’s account as of the Purchase Date for such Purchase Period.

17. Rights as Unitholders

     A Participant will have no rights as a Unitholder under the election to purchase until he
becomes a Unitholder as herein provided. A Participant will become a Unitholder with respect to
Units for which payment has been completed as provided in Section 9 at the close of business on the
last business day of the Purchase Period.

18. Modification and Termination

     The Board may amend or terminate the Plan at any time insofar as permitted by law. The Plan
shall terminate after all Units authorized under the Plan have been purchased, unless terminated
earlier by the Board or unless additional Units are authorized by the Board under the Plan. In the
event the Plan is terminated, the Committee may elect to terminate all outstanding rights to
purchase Units under the Plan either immediately or upon completion of the purchase of Units on the
next Purchase Date, unless the Committee has provided that the right to make all such purchases
shall expire on some other designated date occurring prior to the next Purchase Date. If the
rights to purchase Units under the Plan are terminated prior to expiration, all funds contributed
to the Plan that have not been used to purchase Units shall be returned to the Participants as soon
as administratively practicable.

19. Board Approval; Effective Date

     This Plan was adopted by the Board on April 28, 2006, and shall be effective as of the
Effective Date.

20. Governmental Approvals or Consents

     This Plan and any offering or sale made to Employees under it are subject to any governmental
approvals or consents that may be or become applicable in connection therewith. Subject to the
provisions of Section 18, the Board may make such changes in the Plan and include such terms in any
offering under the Plan as may be desirable to comply with the rules or regulations of any
governmental authority.

 

 

21. Employment Rights

     The Plan shall neither impose any obligation on the Company or an Affiliate to continue the
employment of any Participant, nor impose any obligation on any Participant to remain in the employ
of the Company or an Affiliate.

22. Governing Law

     The Plan and rights to purchase Units that may be granted hereunder shall be governed by and
construed and enforced in accordance with the laws of the state of Texas.

23. Use of Gender

     The gender of words used in the Plan shall be construed to include whichever may be
appropriate under any particular circumstances of the masculine, feminine or neuter genders.

24. Other Provisions

     The agreements to purchase Units under the Plan shall contain such other provisions as the
Committee and the Board shall deem advisable, provided that no such provision shall in any way be
in conflict with the terms of the Plan.

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