Document:

Exhibit 10.4

 

AMENDMENT
NO. 2 TO EMPLOYMENT AGREEMENT

 

THIS AMENDMENT NO.
2 (this “Amendment”) to the Employment Agreement of Paul McGinn dated July 25, 2012, as amended effective
August 1, 2013 (the “Employment Agreement”) is effective as of date set forth on the signature page hereof,
and entered into by and among CIG Wireless Corp., a corporation incorporated in the State of Nevada (the “Company”)
and Paul McGinn (the “Executive”).

 

RECITALS

 

WHEREAS, the Company and Executive
previously entered into the Employment Agreement, which sets forth the terms and conditions of Executive’s employment with
the Company;

 

WHEREAS, the
Company and the Executive now wish to amend the Employment Agreement as of the date hereof; and

 

WHEREAS, Section
20 of the Employment Agreement provides that the Employment Agreement may be amended pursuant to a written agreement between the
Company and Executive.

 

NOW, THEREFORE,
the Company and Executive hereby agree that the Employment Agreement shall be amended as follows:

 

1. A
new Section 3(i) is added to the Employment Agreement as follows:

 

“(i) Special
Retention Bonus. Subject to the Executive’s continued employment with the Company through the applicable Retention Date
set forth below, on such Retention Date the Company will pay to the Executive in a cash lump sum an amount equal to the applicable
Retention Bonus set forth below:

 

	Retention Date	Retention Bonus
	[Insert Date 12 months from the Closing Date]	$900,000
	[Insert Date 18 months from the Closing Date]	$300,000

 

Notwithstanding the
foregoing, in the event of a termination of the Executive’s employment either (a) by the Company without Cause or (b)
by the Executive for Good Reason, the Company will pay to the Executive any then unpaid Retention Bonus within ten (10) days
of such termination. For the purposes of this Section 3(i), “Good Reason” means: (i) a material diminution in
Executive’s Base Salary or (ii) a failure by the Company to pay to the Executive any amounts due hereunder, including
any Incremental Portion or Variable Component, within thirty (30) days of the date such amount is due to be paid hereunder,
that in the case of any Good Reason event is not cured by the Company within thirty (30) days of written notice specifying
the occurrence such Good Reason event, which notice shall be given by Executive to the Company within ninety (90) days after
the occurrence of the Good Reason event. In the event of any nonpayment by the Company of a Retention Bonus when due, the
Company shall promptly upon demand reimburse the Executive for his legal costs, including attorney’s fees, incurred in
seeking the payment of such amount.”

 

    	- -

    	 	 	 

    

 

2. In
all respects not modified by this Amendment, the Employment Agreement is hereby ratified and confirmed.

 

3. Notwithstanding
anything in this Amendment to the contrary, this Amendment shall be subject to, and effective upon, consummation of the transactions
(the “Transactions”) contemplated by that certain Agreement and Plan of Merger, by and among Vertical Bridge
Acquisitions, LLC, Vertical Steel Merger Sub Inc., and the Company, dated as of March 20, 2015 (the “Merger Agreement”).
In the event the Merger Agreement is terminated in accordance with its terms, or the Transactions are not consummated on or prior
to December 31, 2015, this Amendment shall terminate without further action, notice, or deed, and shall be null and void ab initio.

 

4. This
Amendment may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will
constitute one and the same instrument. This Amendment may be delivered via facsimile or scanned “PDF” which shall
be an original for all purposes.

 

[Signature Page Follows]

 

    	-2-

    	 	 	 

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Amendment as of this 20th day of March, 2015.

 

CIG Wireless Corp.

 

	 	By:	 	 /s/
    Romain Gay-Crosier	 
	 	 	 	Name: Romain Gay-Crosier
    
Title: Chief Financial Officer	 

 

 

	/s/ Paul McGinn	 
	Name:      Paul McGinn	 

 

    	-3-EXHIBIT 10.1

 

CARDINAL FINANCIAL CORPORATION

 

Restricted Stock Award Agreement

 

THIS RESTRICTED STOCK AWARD AGREEMENT, dated as of                               , between Cardinal Financial Corporation, a Virginia corporation (the “Corporation”) and                                            (the “Participant”), is made pursuant and subject to the provisions of the Corporation’s 2002 Equity Compensation Plan as amended and restated effective February 16, 2011 (the “Plan”).  The Plan, as it may be amended from time to time, is incorporated herein by reference. All terms used herein that are defined in the Plan shall have the same meanings given them in the Plan.

 

1.                                      Award of Restricted Stock.  Pursuant to the Plan, the Corporation on                              (the “Award Date”) granted to Participant              shares of Common Stock of the Corporation (the “Restricted Stock”).  Subject to the terms and conditions of the Plan and subject further to the terms and conditions herein set forth.

 

2.                                      Terms and Conditions.  The award of Restricted Stock hereunder is subject to the following terms and conditions:

 

(a)                                 Vesting.   Except as provided in paragraph 3, this award of Restricted Stock shall become transferable and nonforfeitable (“Vested”) in accordance with the following schedule:

 

[Add Vesting Schedule]

 

(b)                                 Custody of Certificates.  The stock certificates evidencing the Restricted Stock shall be registered on the Corporation’s books in the name of the Participant as of Award Date.  Custody of stock certificates evidencing the Restricted Stock shall be retained by the Corporation so long as the Restricted Stock is not Vested.  The Corporation’s transfer agent will hold the stock in a book entry account for the benefit of the Participant.  The terms of such account shall restrict the transferability of shares held in the account until the Restricted Stock becomes Vested at which time the Corporation shall instruct the transfer agent to remove the restrictions.

 

(c)                                  Stock Power.  Participant shall deliver to the Corporation a stock power, endorsed in blank, with respect to the Restricted Stock.  The Corporation shall use the stock power to cancel any shares of Restricted Stock that do not become Vested.  The Corporation shall return the stock power to Participant with respect to any shares of Restricted Stock that become Vested.

 

(d)                                 Shareholder Rights.  Participant shall, subject to the restrictions of the Plan, have all rights of a shareholder with respect to the shares of Restricted Stock awarded hereunder, including the right to receive dividends, warrants and rights and to vote the shares; provided, however, that (i) Participant may not sell, transfer, pledge, exchange, hypothecate or 

 

 

otherwise dispose of the Restricted Stock and (ii) dividends shall accumulate and be paid in additional shares of Common Stock which shall be issued to the Participant when the Restricted Shares become vested.  The number of additional shares of Common Stock to be paid to the Participant for dividends shall be determined on each date a dividend would have otherwise been paid on the Restricted Shares based on the Fair Market Value of a share of Common Stock on such date.  Prior to being issued, shares of Common Stock accumulated for dividends shall be treated as Stock Units under the Plan.

 

(e)                                  Legend.  The Corporation reserves the right to place a legend on each stock certificate, restricting the transferability of such certificate and referring to the terms and conditions (including forfeiture) provided in this Agreement.

 

(f)                                   Tax Withholding.  The Corporation has the right to withhold from any award of Restricted Stock the amount of taxes required to be withheld or otherwise deducted and paid with respect to such award.  The Corporation may withhold from any cash amounts due (or to become due) from the Corporation to the Participant or to withhold sufficient shares of Restricted Stock having a Fair Market Value as of the date such shares become Vested that is not less than the amount of such taxes and the Corporation shall cancel, in whole or in part, any such shares so withheld, in order to satisfy the Corporation’s withholding obligations.

 

3.                                  Death or Disability.  The shares of Restricted Stock not yet Vested shall become Vested in the event that Participant dies or becomes disabled while employed by the Corporation or a Subsidiary.

 

4.                                  Forfeiture.  All shares of Restricted Stock that are not then Vested shall be forfeited if Participant’s employment with the Corporation or a Subsidiary terminates except by reason of Participant’s death or disability.

 

5.                                      Change of Control.                                    Notwithstanding any other provision of this Agreement to the contrary, all shares of Restricted Stock not previously forfeited shall become Vested on a Change of Control Date.

 

6.                                      Fractional Shares.  Fractional shares shall not be issuable hereunder, and when any provision hereof may entitle the Participant to a fractional share, such fraction shall be disregarded.

 

7.                                      No Right to Continued Employment.  This Agreement does not confer upon Participant any right with respect to continuance of employment by the Corporation or a Subsidiary, nor shall it interfere in any way with the right of the Corporation or a Subsidiary to terminate Participant’s employment at any time.

 

8.                                      Governing Law.  This Agreement shall be governed by and construed and enforced in accordance with the laws of the Commonwealth of Virginia.

 

9.                                      Conflicts.  In the event of any conflict between the provisions of the Plan and the provisions of this Agreement, the provisions of the Plan shall govern.

 

 

10.                               Participant Bound by Plan.  Participant hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof.

 

11.                               Binding Effect.  Subject to the limitations stated herein and in the Plan, this Agreement shall be binding upon and inure to the benefit of the legatees, distributees and personal representatives of Participant and the successors of the Corporation.

 

IN WITNESS WHEREOF, the Corporation has caused this Agreement to be signed by a duly authorized officer, and Participant has affixed his signature hereto.

 

 

CARDINAL FINANCIAL CORPORATION

 

 

	
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