Document:

exv4w5

Exhibit 4.5

T-3 ENERGY SERVICES, INC.

NON-STATUTORY STOCK OPTION AGREEMENT

Optionee: [________________]

     I. Grant of Stock Option. As of the Grant Date (identified in Section 17 below), T-3
Energy Services, Inc., a Delaware corporation (the “Company”), hereby grants a Non-statutory Stock
Option (the “Option”) to the Optionee (identified above), a non-employee director of the Company,
to purchase the number of shares of the Company’s common stock,
$.001 par value per share (the
“Common Stock”) identified in Section 17 below (the “Shares”), subject to the terms and conditions
of this agreement (the “Agreement”) and the T-3 Energy Services 2002 Stock Incentive Plan (the
“Plan”). The Plan is hereby incorporated herein in its entirety by reference. The Shares, when
issued to Optionee upon the exercise of the Option, shall be fully paid and non-assessable. The
Option is not an “incentive stock option” as defined in Section 422 of the Internal Revenue Code.

     2. Definitions. All capitalized terms used herein shall have the meanings set
forth in the Plan unless otherwise provided herein. Section 17 sets forth meanings for certain of
the capitalized terms used in this Agreement.

     3. Option Term. The Option shall commence on the Grant Date (identified in Section
17) and terminate on the tenth (10th) anniversary of the Grant Date as specified in Section 17. The
period during which the Option is in effect and may be exercised is referred to herein as the
“Option Period”.

     4. Option Price. The Option Price per Share is identified in Section 17.

     5. Vesting. The total number of Shares subject to this Option shall vest in
accordance with the Vesting Schedule (described in Section 17). The Shares may be purchased at any
time after they become vested, in whole or in part, during the Option Period; provided, however,
the Option may only be exercisable to acquire whole Shares. The right of exercise provided herein
shall be cumulative so that if the Option is not exercised to the maximum extent permissible after
vesting, the vested portion of the Option shall be exercisable, in whole or in part, at any time
during the Option Period.

     6. Method of Exercise. The Option is exercisable by delivery of a written notice
to the Secretary of the Company, signed by the Optionee, specifying the number of Shares to be
acquired on, and the effective date of, such exercise. The Optionee may withdraw notice of exercise
of this Option, in writing, at any time prior to the close of business on the business day
preceding the proposed exercise date.

     7. Method of Payment. Subject to applicable provisions of the Plan, the Option
Price upon exercise of the Option shall be payable to the Company in full either: (i) in cash or
its equivalent; (ii) subject to prior approval by the Committee in its discretion, by tendering
previously acquired Shares having an aggregate Fair Market Value (as defined in the Plan) at the
time of exercise equal to the total Option Price (provided that the Shares must have been held by
the Optionee for at least six (6) months prior to their tender to satisfy the Option Price); (iii)
subject to prior approval by the Committee in its discretion, by withholding

 

 

Shares which otherwise would be acquired on exercise having an aggregate Fair Market Value at
the time of exercise equal to the total Option Price; or (iv) any other permitted method pursuant
to the applicable terms and conditions of the Plan. As soon as practicable after receipt of a
written notification of exercise and full payment, the Company shall deliver to or on behalf of the
Optionee, in the name of the Optionee or other appropriate recipient, Share certificates or other
evidence of ownership for the number of Shares purchased under the Option.

     8. Restrictions on Exercise. The Option may not be exercised if the issuance of
such Shares or the method of payment of the consideration for such Shares would constitute a
violation of any applicable federal or state securities or other laws or regulations, or any rules
or regulations of any stock exchange on which the Common Stock may be listed. In addition, Optionee
understands and agrees that the Option cannot be exercised if the Company determines that such
exercise, at the time of such exercise, will be in violation of the Company’s insider trading
policy.

     9. Termination of Directorship Service. Voluntary or involuntary termination of
the Optionee as a member of the Company’s Board of Directors shall affect Optionee’s rights under
the Option as follows:

     (a) Termination for Cause. The entire Option, including any vested
portion thereof, shall expire at 12:01 a.m. (CST) on the date of termination of the
Optionee’s directorship and shall not be exercisable to any extent if Optionee’s
directorship is terminated for Cause (as defined in the Plan at the time of such termination
of directorship).

     (b) Other Involuntary Termination or Voluntary Termination.
Subject to the Vesting Schedule in Section 17, if Optionee’s directorship is terminated for
any reason other than for Cause, then (i) any non-vested portion of the Option shall
immediately expire on the termination date and (ii) the vested portion of the Option shall
expire to the extent not exercised as of the earlier of (A) the expiration of the Option
Period or (B) two (2) years after the effective date of his termination of directorship.

     10. Independent Legal and Tax Advice. Optionee acknowledges that the Company has advised
Optionee to obtain independent legal and tax advice regarding the grant and exercise of the
Option and the disposition of any Shares acquired thereby.

     11. Reorganization of Company. The existence of the Option shall not affect in any way the
right or power of the Company or its stockholders to make or authorize any or all adjustments,
recapitalizations, reorganizations or other changes in Company’s capital structure or its
business, or any merger or consolidation of the Company, or any issue of bonds, debentures,
preferred or prior preference stock ahead of or affecting the Shares or the rights thereof, or
the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its
assets or business, or any other corporate act or proceeding, whether of a similar character or
otherwise.

 

 

     12. Adjustment of Shares. In the event of stock dividends, spin-offs of assets or other
extraordinary dividends, stock splits, combinations of shares, recapitalizations, mergers,
consolidations, reorganizations, liquidations, issuances of rights or warrants and similar
transactions or events involving Company, appropriate adjustments shall be made to the terms and
provisions of the Option as provided in the Plan.

     13. No Rights in Shares. Optionee shall have no rights as a stockholder in respect of the
Shares until the Optionee becomes the record holder of such Shares.

     14. Investment Representation. Optionee will enter into such written representations,
warranties and agreements as Company may reasonably request in order to comply with any federal or
state securities law. Moreover, any stock certificate for any Shares issued to Optionee hereunder
may contain a legend restricting their transferability as determined by the Company in its
discretion. Optionee agrees that Company shall not be obligated to take any affirmative action in
order to cause the issuance or transfer of Shares hereunder to comply with any law, rule or
regulation that applies to the Shares subject to the Option.

     15. No Guarantee of Directorship. The Option shall not confer upon Optionee any right to
continued membership on the Company’s Board of Directors.

     16. General.

     (a) Notices. All notices under this Agreement shall be mailed or
delivered by hand to the parties at their respective addresses set forth beneath their
signatures below or at such other address as may be designated in writing by either of the
parties to one another, or to their permitted transferees if applicable. Notices shall be
effective upon receipt.

     (b) Shares Reserved. The Company shall at all times during the
Option Period reserve and keep available under the Plan such number of Shares as shall be
sufficient to satisfy the requirements of this Option.

     (c) Transferability of Option. The Option is transferable only to
the extent permitted under the Plan at the time of transfer (i) by will or by the laws of
descent and distribution, (ii) by a qualified domestic relations order (as defined in
Section 414(p) of the Internal Revenue Code), or (iii) to Optionee’s Immediate Family. No
right or benefit hereunder shall in any manner be liable for or subject to any debts,
contracts, liabilities, obligations or torts of Optionee or any permitted transferee
thereof.

     (d) Amendment and Termination. No amendment, modification or
termination of this Agreement shall be made at any time without the written consent of
Optionee and Company.

     (e) No Guarantee of Tax Consequences. The Company makes no
commitment or guarantee that any tax treatment will apply or be available to Optionee or
any other person. The Optionee has been advised, and provided with the

 

 

opportunity, to obtain independent legal and tax advice regarding the grant and
exercise of the Option and the disposition of any Shares acquired thereby.

     (f) Severability. In the event that any provision of this Agreement
shall be held illegal, invalid, or unenforceable for any reason, such provision shall be
fully severable but shall not affect the remaining provisions of the Agreement, and the
Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable
provision had not been included herein.

     (g) Supersedes Prior Agreements. This Agreement shall supersede and
replace all prior agreements and understandings, oral or written, between the Company and
the Optionee regarding the grant of the Options covered hereby.

     (h) Governing Law. The Option shall be construed in accordance with
the laws of the State of Delaware, without regard to its conflict of law provisions, to the
extent federal law does not supersede and preempt Delaware law.

     17. Definitions and Other Terms. The following capitalized terms shall have those
meanings set forth opposite them:

     (a) Optionee: [_______________]

     (b) Grant Date: [_______________]

     (c) Shares: [______________ ] ([_______]) Shares of the Company’s Common
Stock.

     (d) Option Price: $[_______]

     (e) Option Period: [______________ through ________________ (until
5:00 p.m. CST).

     (f) Vesting Schedule: Options for [__]% of the Shares covered by this
Option shall vest on the first anniversary of the Grant Date, and Options for the remaining
Shares shall vest on each subsequent anniversary of the Grant Date until fully vested, as
follows:

	 	 	 	 	 
	Date	 	Options Vesting
	[_____________]
	 	 	___	%
	[_____________]
	 	 	___	%
	[_____________]
	 	 	___	%
	Total
	 	 	100	%

     In the event of a “Change in Control” of the Company (as defined in the Plan at the time of
such event), the non-vested portion of the Option shall become immediately 100% vested as of the
Change in Control date. In addition, in the event that Optionee (i) is not nominated for
re-election to the Board, (ii) is nominated for re-election to the Board but is not re-elected to
the Board, or (iii) is involuntarily forced to resign or is removed from his position as a director
on the Board for whatever reason except for Cause, then any non-vested

 

 

portion of the Option at such time shall become immediately 100% vested as of the date of such
event. In the event that Optionee voluntarily resigns his position as a director on the Board for
whatever reason, or is involuntarily removed from such position for Cause, then no accelerated
vesting shall occur.

     IN WITNESS WHEREOF, the Company, as of the Grant Date, has caused this Agreement to be
executed on its behalf by its duly authorized officer and Optionee has hereunto executed this
Agreement as of the same date.

	 	 	 	 	 
	 	T-3 ENERGY SERVICES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Address for Notices:

T-3 Energy Services, Inc.

7135 Ardmore Street

Houston, TX 77054

Attn: Corporate Secretary

	 	 	 	 	 
	 	OPTIONEE

 	 
	 	Signature:  	

 	 
	 	 	

[____________________] 	 
	 

Address for Notices:

[_________________________]

[_________________________]

[_________________________]exv4w6

Exhibit 4.6

T3 Letter — Revised Attachment I

Saturday, January 08, 2011

4:17 PM

	 	 	 

	Subject

	 	T3 Letter — Revised Attachment I
	From

	 	Cockrell, Carol
	To

	 	(name of option holder)
	Cc

	 	Rick Safier
	Sent

	 	Saturday, January 08, 2011 3:58 PM
	Attachments

	 	<< Rev. Attach. I.pdf>>

Please see the attached revision of Attachment I of your Notice of Conversion sent to you this past week.

There has been a slight change in the conversion rounding rules on options that has reduced your converted option total(s) by one share. This change was necessary to avoid unnecessarily punitive
personal tax consequences on your entire award grant. If you have any questions, please advise.

T-3 Energy Services, Inc.

Corporate Paralegal

Phone: 713-996-4120

Email: ccockrell@t3energy.com

 

 

[FORM OF ORIGINAL NOTICE OF CONVERSION]

January
[ ], 2011

Dear Option Holder:

     The meeting of stockholders of T-3 Energy Services, Inc. (“T-3”) to approve our
acquisition by Robbins & Myers, Inc. (“Robbins & Myers”) will be held on Friday, January 7,
2011, and, assuming stockholder approval and the approval of the merger by the shareholders of
Robbins & Myers, we expect the merger to be closed and become effective on Monday, January 10, 2011
(the “Closing Date”).

     As a result of the transaction, T-3 will become a wholly-owned subsidiary of Robbins & Myers
and all outstanding options to purchase shares of T-3 Common Stock will be converted into options
to purchase Common Shares of Robbins & Myers.

     The conversion ratio for the number of Common Shares of Robbins & Myers and the option price
per share was established in the Merger Agreement, dated October 6, 2010, between T-3 and Robbins &
Myers. Each outstanding T-3 option will be converted into an option to acquire 1.192 Common Shares
of Robbins & Myers for each T-3 share subject to the option, with the number of Robbins & Myers
Common Shares being rounded up to the nearest whole share. The option exercise price under each
converted option will be determined by dividing the original exercise price of the T-3 option by
1.192 and rounding up to the nearest whole cent. Unlike the conversion ratio for restricted stock
or T-3 Common Stock that you may own, there is no cash consideration component in the option
conversion.

     All outstanding options which you hold will become 100% vested on January 9, 2011 and will be
converted in the manner specified in the preceding paragraph on the Closing Date.

     A brief blackout period is necessary to implement the conversion of the T-3 options to options
to acquire Robbins & Myers Common Shares. During the blackout period, which begins on Friday,
January 7, 2011, and ends on Wednesday, January 12, 2011, option exercises will be prohibited.

     Attachment 1 lists each outstanding stock option you presently hold, together with the number
of Common Shares of Robbins & Myers which will be covered by the option when it is converted and
the converted exercise price per share.

     All other terms of your options will remain the same. Robbins & Myers will begin
administering your options as of the Closing Date. You will be able to exercise your options by
contacting Jeff Halsey, Vice President — Human Resources of Robbins & Myers, at 937-458-6631.

Thank you for your continuing efforts on behalf of T-3.

Sincerely,

	 	 	 	 	 
	
 	 	 
	Steven W. Krablin 	 	 
	President & CEO 	 	 

 

 

	 	 	 	 	 

Important Information for Investors and Stockholders

     In connection with the proposed merger, R&M has filed with the Securities and Exchange
Comission (“SEC”), and the SEC has declared effective, a registration statement on Form S-4 that
includes a joint proxy statement of T-3 and R&M that also constitutes a prospectus of R&M.
INVESTORS AND SECURITY HOLDERS OF T-3 AND R&M ARE URGED TO READ THE JOINT PROXY
STATEMENT/PROSPECTUS, WHICH WAS FIRST MAILED TO SECURITY HOLDERS ON OR ABOUT DECEMBER 3, 2010, AND
OTHER RELEVANT DOCUMENTS THAT WERE OR WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY,
AS THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and stockholders
may obtain free copies of the proxy statement/prospectus and other documents containing important
information about R&M and T-3 through the website maintained by the SEC at http://www.sec.gov.
Copies of the documents filed with the SEC by R&M are available free of charge on R&M’s internet
website at www.robn.com under the tab “Investor Information” and then under the tab “SEC Reports”
or by contacting R&M’s Investor Relations Department at 937-458-6600 or by written request to 51
Plum Street, Suite 260, Dayton, Ohio 45440. Copies of the documents filed with the SEC by T-3 are
available free of charge on T-3’s internet website at www.t3energy.com under the tab “Corporate”
and then under the tab “Investor Relations” or by contacting T-3’s Investor Relations Department at
713-996-4110 or by written request to 7135 Ardmore Street, Houston, Texas 77054.

     R&M, T-3, their respective directors and certain of their executive officers may be deemed to
be participants in the solicitation of proxies from the stockholders of T-3 in connection with the
proposed transaction. Information about the directors and executive officers of T-3 is set forth in
its proxy statement for its 2010 annual meeting of stockholders, which was filed with the SEC on
April 30, 2010, its Current Report on Form 8-K filed with the SEC on June 16, 2010, and the joint
proxy statement/prospectus related to the proposed transaction, which was filed with the SEC by T-3
on December 3, 2010, and first mailed to security holders on or about December 3, 2010. Information
about the directors and executive officers of R&M is set forth in its Annual Report on Form 10-K
for the year ended August 31, 2009, the proxy statement for its 2010 annual meeting of
stockholders, which was filed with the SEC on December 4, 2009, and the joint proxy
statement/prospectus related to the proposed transaction, which was filed with the SEC by T-3 on
December 3, 2010, and first mailed to security holders on or about December 3, 2010. These
documents can be obtained free of charge from the sources indicated above.

Cautionary Statement Regarding Forward-Looking Statements

     This communication contains “forward-looking statements” within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995 that are not limited to
historical facts, but reflect T-3’s and R&M’s current beliefs, expectations or intentions regarding
future events. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,”
“intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,”
“continue,” and similar expressions are intended to identify such forward-looking statements. These
forward-looking statements include, without limitation, T-3’s and R&M’s expectations with respect
to the synergies, costs and other anticipated financial impacts of the proposed transaction; future
financial and operating results of the combined company; the combined company’s plans, objectives,
expectations and intentions with respect to future operations and services; approval of the
proposed transaction by governmental regulatory authorities; the satisfaction of the closing
conditions to the proposed transaction; the timing of the completion of the proposed transaction;
and other factors that are set forth in the “Risk Factors” section, the “Legal Proceedings”
section, the “Management’s Discussion and Analysis of Financial Condition and Results of
Operations” section and other sections of T-3’s and R&M’s Annual Reports on Form 10-K, subsequent
Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings. All
subsequent written and oral forward-looking statements concerning T-3, R&M, the proposed
transaction or other matters and attributable to T-3 or R&M or any person acting on their behalf
are expressly qualified in their entirety by the cautionary statements above. Neither T-3 nor R&M
undertakes any obligation to publicly update any of these forward-looking statements to reflect
events or circumstances that may arise after the date hereof.

 

 

ATTACHMENT 1

T-3 ENERGY SERVICES, INC.

OUTSTANDING STOCK OPTIONS

As of _____________, 201_

Name of Option Holder: __________________________

Outstanding Stock Options:

	 	 	 	 	 	 	 	 	 
	 	 	Remaining No.	 	 	 	No. of R&M Shares	 	Converted
	 	 	of T-3 Shares	 	Original Exercise	 	Under Converted	 	Exercise Price
	Grant Date	 	Under Option	 	Price per Share	 	Option	 	per Share
	/ /
	 	
	 	$
	 	 	 	$

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