Document:

Exhibit 10.1

 

 

 

March 1, 2014

 

 

 

Roger O. Goldman

13660 Rivoli Drive

Palm Beach Gardens, FL 33410

 

Dear Roger:

 

The Board of Directors of Seacoast Banking
Corporation of Florida ("Seacoast") would like to enter into this letter agreement with you to memorialize the terms
pursuant to which your service as our independent Lead Director will continue. This letter agreement replaces the letter agreement
between Seacoast and you dated October 24, 2012 and is effective March 1, 2014 (“Effective Date”).

 

We believe your background and experience
in our industry, your deep knowledge of industry trends and competition, your demonstrated leadership skill as a board member at
Seacoast and other organizations, and your previous experience as a senior operating executive uniquely qualify you for this important
Board position. Moreover, your understanding of and experience in building successful boards will be an important component to
our growth as a company and a board. We believe a more dynamic role for the Lead Director is an emerging best practice for progressive
companies in many fast changing industries, including banking.

 

As a Director of Seacoast and as Lead Director
of Seacoast your responsibilities will generally include the following:

 

		·	Collaborating with the Board and the CEO in establishing short term and long term strategies, objectives, goals, and programs
for Seacoast and its subsidiaries;

 

		·	Working with the CEO to provide leadership and direction, and to guide the activities of Seacoast to ensure short and long
term profitability, equitable treatment and development of employees, maintenance of a good corporate community relationship and
productive relationships with investors and the financial community at large;

 

		·	Actively participating in meetings of Seacoast's Board of Directors, reading materials distributed prior to the meetings and
sharing experience and expertise during Board discussions, as well as supporting decisions that are arrived at by the Board and
management;

 

		·	Collaborating with the Board and CEO to support and maintain a corporate governance framework that ensures sound risk management,
affirms high standards of business conduct, emphasizes the importance of integrity and honesty in the conduct of business, and
ensures the integrity of Seacoast's controls and procedures, including internal control over financial reporting;

 

    	 

    	Roger O. Goldman 
 March 1, 2014 
Page 2

    

 

		·	Collaborating with the Board and CEO to benchmark the Board's skill set and to establish the appropriate composition of board
members under a strong corporate governance framework;

 

		·	Providing direction and guidance over personnel activities that affect the CEO, including salary, incentives, and performance
objectives, to ensure solid efforts toward the attainment of Company goals;

 

		·	Collaborating with the Board and CEO to guide and support board member new business development, customer acquisition and retention
activities; and

 

		·	Other duties as further described in our Corporate Governance Guidelines or as the CEO, the Board and the Lead Director may
agree.

 

Your compensation as our Lead Director will
have several elements which are designed to provide an appropriate compensation value while also aligning with the interests of
our shareholders. The compensation elements are as follows:

 

Compensation

 

		·	During your service as Lead Director, you will receive an annual retainer and meeting fees equal to that paid to other Seacoast
Directors who do not serve as committee chairs in accordance with our standard practice for director fees.

 

		·	You will receive an annual Lead Director fee of $275,000 to be paid in a combination of cash, restricted stock and other stock
based compensation elements as mutually agreed by April 30, 2014.

 

		·	If you voluntarily resign from the Board, any amounts not yet paid in cash or any shares of restricted stock that remain unvested
at that time shall be forfeited. Should you be unable to continue to serve due to death or disability, one half of all unvested
shares will vest immediately and one half of any unpaid cash payments due over the current remaining term will be paid immediately.
As a best practice, the Board will consider the role of Lead Director on an annual basis. If you are not reelected as Lead Director
or to the Board or if you are removed as Lead Director or from the Board, for any reason, during a term, all unvested shares will
immediately vest and any unpaid cash payments over the remaining term will be paid immediately.

 

		·	On March 1, 2014, you will receive a grant under the Seacoast Banking Corporation of Florida 2013 Incentive Plan of 200,000
nonstatutory options to purchase $0.10 par value Seacoast common stock with an exercise price equal to the fair market value of
the stock on the grant date, as evidenced by, and in accordance with the terms of, a nonstatutory stock option agreement entered
into by and between you and Seacoast effective March 1, 2014.

 

    	 

    	Roger O. Goldman 
 March 1, 2014 
Page 3

    

  

Other Terms

 

		·	All travel expenses and all reasonable staff or customer entertainment expenses will be reimbursed by Seacoast consistent with
our normal reimbursement policy.

 

		·	Any extraordinary use of your office staff will be reimbursed by Seacoast based on actual expenses incurred.

 

		·	We will provide an additional annual stipend of $20,000 to you in lieu of housing reimbursement.

 

		·	Within 30 days of the Effective Date, you and Seacoast will execute a mutually agreeable lease agreement covering your occupancy
of certain office space in our PGA building.

 

		·	This letter agreement will remain in effect for three (3) years following the Effective Date and will automatically renew for
successive three (3) year terms on the first day of each month following the Effective Date.

 

The Board looks forward to your service as
Lead Director. Please indicate your acceptance of the terms of this letter by signing below.

 

Sincerely,

 

/s/Dennis S. Hudson, III

 

Dennis S. Hudson, III

Chairman and Chief Executive Officer

 

 

Agreed and accepted:

 

 

/s/
Roger O. Goldman                         

Roger O. Goldman

 

 

 

March
1, 2014                                      

Date of AcceptanceEXHIBIT 10.1

 

SUBSCRIPTION AGREEMENT

 

This Subscription Agreement
(“Subscription Agreement”) is being used by Tecnoglass Inc., a Cayman Islands company (the “Company”),
for a private placement of 95,693 ordinary shares, par value $0.0001 per share (the “Shares”), of the Company to the
investor listed on the signature page attached hereto (the “Investor”) at an aggregate purchase price of $1,000,000
(or approximately $10.45 per share), on the terms contained in this Subscription Agreement.

 

The Investor
hereby agrees as follows:

 

1.                 
Subscription for Securities. The Investor hereby subscribes for the Shares of the Company, subject to the
terms and conditions set forth in this Subscription Agreement.

 

2.                 
Closing and Delivery of Securities. The closing (“Closing”) will occur ten days from the
date this Subscription Agreement is fully executed, or sooner upon mutual agreement of the Company and the Investor. On the Closing,
certificates representing the Shares will be delivered promptly to the Investor and payment for the Shares will be promptly made
by the Investor to the Company at an account to be indicated by the Company.

 

3.                 
Registration Rights. The Company agrees that not later than four months after the Closing, the Company shall
file a registration statement covering the resale by the Investor of the Shares and use its best efforts to have such registration
statement declared effective by the Securities and Exchange Commission as soon as possible.

 

4.                 
Investor Representations and Warranties. The Investor hereby represents and warrants as follows:

 

4.1.           
Accredited Investor Status. Investor is an accredited investor within the meaning of Section 2(15) of the Securities
Act of 1933, as amended (“Securities Act”), and Rule 501 promulgated thereunder.

 

4.2.           
Information About the Company.

 

(a)               
The Company has made available to the Investor a copy of the Company’s Definitive Proxy Statement, dated December
3, 2013, as supplemented, and the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission
on December 27, 2013 (collectively, the “Disclosure Documents”). Investor has read the Disclosure Documents, including
the “Risk Factors” set forth in the Disclosure Documents, together with this Subscription Agreement, and fully understands
the information set forth therein and herein. Investor has been given access to full and complete information regarding the Company
as Investor has requested and has utilized such access to Investor’s satisfaction for the purpose of verifying the information
included herein and therein, and Investor has either met with or been given reasonable opportunity to meet with the officers of
the Company for the purpose of asking reasonable questions of such officers concerning the terms and conditions of the offering
and the business of the Company and all such questions have been answered to Investor’s full satisfaction. Investor has also
been given an opportunity to obtain any additional relevant information to the extent reasonably available to the Company. After
reading such information and materials, Investor understands that there is no assurance as to the future performance of the Company
and the Shares.

 

(b)              
Investor has received no representation or warranty from the Company or any of its officers, directors, equity holders,
employees or agents in respect of Investor’s investment in the Shares. Investor is not subscribing for the Shares as a result
of or subsequent to: (i) any advertisement, article, notice or other communication published in any newspaper, magazine or similar
media or broadcast over television, radio or the Internet or (ii) any seminar or meeting whose attendees have been invited by any
general solicitation or general advertising.

 

 

    	3

    	 

    

  

 

4.3.           
Speculative Investment. Investor is aware that the Shares are speculative investments that involve a high degree
of risk and Investor may suffer the total loss of its investment. Investor has such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of an investment in the Shares and has obtained, in Investor’s
judgment, sufficient information to evaluate the merits and risks of an investment in the Shares. Investor believes that the investment
in the Shares is suitable for it based upon its investment objectives and financial needs, and Investor has adequate means for
providing for its current financial needs and contingencies and has no need for liquidity with respect to its investment in the
Shares. The investment in the Shares does not constitute a significant portion of Investor’s investment portfolio.

 

4.4.           
Restrictions on Transfer. Investor understands that (i) the Shares have not been registered under the Securities
Act of 1933, as amended (“Securities Act”), or the securities laws of any state in reliance on specific exemptions
from registration and (ii) the Shares cannot be resold, pledged, assigned or otherwise disposed of unless they are subsequently
registered under the Securities Act and under applicable securities laws of certain states, or an exemption from such registration
is available. The certificates representing the Shares will bear a restrictive legend relating to such restrictions. In addition,
Investor understands that the Company is relying on Investor’s representations and agreements for the purpose of determining
whether this transaction meets the requirements of the exemptions afforded by the Securities Act and certain state securities laws.

 

4.5.           
Investment Representation. Investor is acquiring the Shares for its own account for investment and not with a view
to, or for sale in connection with, any subsequent distribution of the securities, nor with any present intention of selling or
otherwise disposing of all or any part of the Shares in violation of the Federal securities laws. Investor understands that, although
there may potentially be a public market for the Shares, there is no assurance that any such market will exist in the future.

 

4.6.           
Authority. Investor is authorized and qualified to become an investor in the Shares and the person signing this Subscription
Agreement on behalf of Investor has been duly authorized by Investor to do so.

 

5.                 
Company Representations and Warranties. The Company hereby represents and warrants to the Investor as follows:

 

5.1.           
Authority. The Company has all necessary corporate power and authority to enter into this Agreement and to consummate
the transactions contemplated hereby. All corporate action necessary to be taken by the Company to authorize the execution, delivery
and performance of this Agreement has been duly and validly taken and this Agreement has been duly executed and delivered by the
Company. Subject to the terms and conditions of this Agreement, this Agreement constitutes the valid, binding and enforceable obligation
of the Company, enforceable in accordance with its terms, except as enforceability may be limited by (i) applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent transfer or similar laws of general application now or hereafter in effect affecting
the rights and remedies of creditors and by general principles of equity (regardless of whether enforcement is sought in a proceeding
at law or in equity); and (ii) the applicability of the federal and state securities laws and public policy as to the enforceability
of the indemnification provisions of this Agreement. The sale by the Company of the Shares does not conflict with the third amended
and restated memorandum and articles of association of the Company or any material contract by which the Company or its property
is bound, or any federal or state laws or regulations or decree, ruling or judgment of any United States or state court applicable
to the Company or its property.

 

 

    	4

    	 

    

 

 

5.2.           
Disclosure Documents. The Disclosure Documents do not contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made, not misleading.

 

6.                 
Governing Law. This Agreement shall be governed by and construed in accordance with the law of the State of
New York regardless of the law that might otherwise govern under applicable principles of conflicts of law thereof.

 

7.                 
Counterparts. This Subscription Agreement may be executed in one or more counterparts, each of which will
be deemed an original but all of which together will constitute one and the same instrument. The execution of this Subscription
Agreement may be by actual or facsimile signature.

 

8.                 
Benefit. Except as otherwise set forth herein, this Subscription Agreement is binding upon and inures to the
benefit of the parties hereto and their respective heirs, executors, personal representatives, successors and assigns.

 

9.                 
Notices. Any notice called for hereunder shall be deemed properly given if (i) sent by certified mail, return
receipt requested, (ii) personally delivered, (iii) dispatched by any form of private or governmental express mail or delivery
service providing receipted delivery, (iv) sent by telefacsimile or (v) sent by e-mail, to the following addresses or to such other
address as either party may designate by notice in accordance with this Section:

  

If to the Company:

 

Tecnoglass Inc.

Avenida Circunvalar a 100 mts
de la Via 40

Barrio Las Flores

Barranquilla, Colombia

Attn: Jose Daes

Facsimile:

Email: jdaes@energiasolarsa.com

 

If to Investor:

 

The A. Lorne Weil 2006
Irrevocable Trust –

Family Investment Trust

c/o Neuberger Berman Trust Company

919 N. Market Street, Suite 506

Wilmington, DE 19801

 

 

Notice shall be deemed given on the earlier of (i) actual receipt
by the receiving party, (ii) the date shown on a telefacsimile transmission confirmation, (iii) the date on which an e-mail transmission
was received by the receiving party’s on-line access provider (iv) the date reflected on a signed delivery receipt, or (vi)
two (2) business days following tender of delivery or dispatch by express mail or delivery service.

  

10.             
Disclosure; Exchange Act Filings. Promptly upon execution of this Agreement, the Company will issue a press
release describing this Agreement and file a Current Report on Form 6-K under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”) reporting such execution. The parties to this Agreement shall cooperate with one another to assure
that all such disclosures are accurate and consistent.

 

 

    	5

    	 

    

 

11.             
Oral Evidence. This Subscription Agreement constitutes the entire agreement between the parties with respect
to the subject matter hereof and supersede all prior oral and written agreements between the parties hereto with respect to the
subject matter hereof. This Subscription Agreement may not be changed, waived, discharged, or terminated orally, but rather, only
by a statement in writing signed by the party or parties against which enforcement or the change, waiver, discharge or termination
is sought.

 

 

 

 

 

    	6

    	 

    

 

 

 

IN WITNESS WHEREOF, the undersigned have
executed this Subscription Agreement as of the 5th day of March, 2014.

 

 

 

Neuberger Berman Trust Company
of Delaware

N.A., Trustee

 

 The A. Lorne Weil 2006 Irrevocable
Trust –

Family Investment
Trust

 

 

By: /s/
William A. Hearn

Name:William
M. Hearn

Title:Senior
Vice President

Tax
ID: XX-XXXXXXX

Address:
919 N. Market Street, Suite 506

                Wilmington, DE 19801

 

 

 

AGREED AND ACCEPTED BY:

 

TECNOGLASS INC.

 

 

 

By: /s/ Jose M. Daes

 

Name:Jose M. Daes

Title: Chief Executive Officer

 

 

    	7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}]]