Document:

kins_ex10i.htm

EXHIBIT 10i

 

AMENDMENT NO. 1, dated as of May 14, 2012, to EMPLOYMENT AGREEMENT, dated May 10, 2011 (the “Amendment”), by and between KINGSTONE INSURANCE COMPANY, a New York stock property and casualty insurance company (the “Company”), and BARRY B. GOLDSTEIN (the “Employee”).

 

RECITALS

 

WHEREAS, the Company and the Employee are parties to an Employment Agreement, dated May 10, 2011 (the “Employment Agreement”), which sets forth the terms and conditions upon which the Employee is employed by the Company and upon which the Company compensates the Employee.

 

WHEREAS, the Company and the Employee desire to amend the Employment Agreement to modify the Employee’s Base Salary (as defined therein).

 

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows:

 

1. Paragraph 4.2 of the Employment Agreement is amended to provide that, effective as of June 1, 2012, the Employee’s Base Salary is increased to three hundred fifty thousand dollars ($350,000) per annum.

 

2. Except as amended hereby, the Employment Agreement shall continue in full force and effect in accordance with its terms.

 

3. This Amendment shall be governed by, and interpreted and construed in accordance with, the laws of the State of New York, excluding choice of law principles thereof. In the event any clause, section or part of this Amendment shall be held or declared to be void, illegal or invalid for any reason, all other clauses, sections or parts of this Amendment which can be effected without such void, illegal or invalid clause, section or part shall nevertheless continue in full force and effect.

 

4. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, and all of which taken together shall constitute one and the same instrument.

 

5. Signatures hereon which are transmitted via facsimile or email shall be deemed original signatures.

 

6. The Employee acknowledges that he has been represented by counsel, or has been afforded an opportunity to be represented by counsel, in connection with this Amendment. Accordingly, any rule or law or any legal decision that would require the interpretation of any claimed ambiguities in this Amendment against the party that drafted it has no application and is expressly waived by the Employee. The provisions of this Amendment shall be interpreted in a reasonable manner to give effect to the intent of the parties hereto.

 

  

1

  

 

IN WITNESS WHEREOF, the Company and the Employee have executed this Amendment as of the date first above written.

 

	 	KINGSTONE INSURANCE COMPANY	 
	 	 	 	 
	 	
By: 

	/s/ Victor Brodsky	 
	 	 	Victor Brodsky	 
	 	 	Chief Financial Officer	 
	 	 	 	 
	 	 	/s/ Barry B. Goldstein	 
	 	 	Barry B. Goldstein	 
	 	 	 

 

 

2bdco_ex1035.htm

Exhibit 10.35

genesisenergy

 

December 20, 2012

 

Lazarus Energy LLC

801 Travis, Suite 2100

Houston, Texas 77002

Attention: Jonathan Carroll

 

GEL TEX Marketing, LLC Milam Services, Inc.

919 Milam, Suite 2100

Houston, Texas 77002

Attention: Steve Nathanson

 

Re: Letter Agreement Regarding December Distributions 

 

Gentlemen:

 

Reference is made to that certain (i) Joint Marketing Agreement dated August 12, 2011 (as amended, restated or supplemented from time to time, the "JMA"), by and between Lazarus Energy LLC, a Delaware limited liability company ("Lazarus"), and GEL Tex Marketing, LLC, a Delaware limited liability company ("GEL"), (ii) Construction and Funding Contract dated August 12, 2011 (as amended, restated or supplemented from time to time, the "CFC"), by and between Lazarus and Milam Services, Inc., a Delaware corporation ("MSI"), (iii) Crude Oil Supply and Throughput Services Agreement dated August 12, 2011 by and between GEL and Lazarus, (iv) Letter Agreement dated June 25, 2012 by and between GEL, MSI and Lazarus regarding expense payments and reservations of rights ("Operating Expense Payment Letter Agreements"), and (v) Acknowledgement Letter dated June 1, 2012 addressed to Lazarus by GEL (the "Acknowledgment Letter"). Capitalized terms not otherwise defined herein shall have the meanings set forth in the CFC.

 

The parties to this Letter Agreement desire to set forth certain acknowledgements and agree to certain modifications to the JMA as more particularly set forth herein.

 

Section 1. Acknowledgements

 

The parties agree that for the month of December 2012, GEL has made and will make weekly Operations Payments and other payments to or on behalf of Lazarus (such payments, the "December Payments Amount") which in the aggregate will exceed the amount that should have been paid under the JMA. The amount by which the December Payments Amount exceeds the amount required to be paid to Lazarus in the month of December 2012, pursuant to the JMA is hereinafter referred to as the "Overpayment Amount".

 

 

Genesis Energy, L.P. • 919 Milam, Suite 2100 • Houston, Texas 77002 • Tel: (713) 860-2500 • Fax: (713) 860-2640

 

  

1

  

December 20, 2012 Page 2

 

Section 2. Modifications to Distributions and Payments Provisions of JMA

 

From and after January 1, 2013, any Gross Profit distributions that would have been paid to Lazarus under the terms of Exhibit B, subsection (c)(iii) of the JMA, shall be distributed instead to GEL (the "Redirected Distributions") until GEL has received aggregate Redirected Distributions equal to the Overpayment Amount. Such distributions shall not reduce the distributions of Gross Profit that GEL or its Affiliates are otherwise entitled to under the JMA.

 

Section 3, Certain Representations

 

(a) Each party hereby represents to the other that (a) it has full power and authority to execute and deliver this Letter Agreement and to consummate the transactions contemplated hereby, (b) the execution and delivery of this Letter Agreement by such party have been duly and validly authorized by all necessary corporate action on the part of such party and (c) this Letter Agreement has been duly and validly executed and delivered by such party and constitutes a valid and binding obligation of such party, enforceable against such party in accordance with its terms, except that such enforceability (i) may be limited by bankruptcy, insolvency, moratorium or other similar laws affecting or relating to the enforcement of creditors' rights generally and (ii) is subject to general principles of equity and the discretion of the court before which any proceedings seeking injunctive relief or specific performance may be brought.

 

(b) Lazarus hereby represents and warrants to GEL that no Forbearance Termination Event, as defined in the Forbearance Agreement has occurred, and no facts or circumstance exist that would cause a Forbearance Termination Event to occur under the Forbearance Agreement.

 

As modified by this Letter Agreement, all of the terms of the JMA, CFC, Supply Agreement, Operating Expense Payment Letter Agreements and Acknowledgement Letter are hereby ratified and confirmed and shall remain in full force and effect.

 

Signature Page Follows

 

  

2

  

 

IN WITNESS WHEREOF, the parties hereto have caused this Letter Agreement to be executed by their duly authorized representatives effective as of the date first written above.

	 	
GEL TEX MARKETING, LLC, A Delaware limited liability company

	 
	 	  	  	  	 
	 	
By:

	  	
/s/ R.V. DEERE

	 
	 	
Name:

	  	
R.V. Deere

	 
	 	
Title:

	  	
CFO

	 
	 	  	  	  	 
	 	
MILAM SERVICES, INC., A Delaware corporation

	 
	 	  	  	  	 
	 	
By:

	  	
/s/ R.V. DEERE

	 
	 	
Name:

	  	
R.V. Deere

	 
	 	
Title:

	  	
CFO

	 
	 	  	  	  	 
	 	
LAZARUS ENERGY LLC, a Delaware limited liability company

	 
	 	  	  	  	 
	 	
By:

	  	
/s/ JONATHAN P. CARROLL

	 
	 	
Name:

	  	
Jonathan P. Carroll

	 
	 	
Title:

	  	
President

	 
	 	  	  	  	 

 

3pyds_ex1017.htm

EXHIBIT 10.17

 

FIRST AMENDMENT TO LEASE AGREEMENT

DATED AUGUST 22, 2003

 

BY AND BETWEEN

 

FROST NATIONAL BANK, TRUSTEE FOR A DESIGNATED TRUST

 

("LANDLORD")

 

AND

 

PAYMENT DATA SYSTEMS, INC.

 

("TENANT")

 

This First Amendment to Lease Agreement (the "Amendment") is entered into this 6th day of February, 2006 by and between FROST NATIONAL BANK, TRUSTEE FOR A

 

DESIGNATED TRUST (herein called "Landlord") and PAYMENT DATA SYSTEMS, INC., (herein called "Tenant"). The terms and conditions contained herein shall supersede and control any conflicting terms and conditions contained in the above referenced Lease Agreement by and between Landlord and Tenant (the "Lease").

 

WITNESSETH:

 

WHEREAS, Landlord and Tenant have entered into a Lease Agreement dated August 22, 2003 providing for the leasing by Landlord to Tenant of certain office space presently identified as 12500 San Pedro, Suites 120 and 525, San Antonio, Texas ("Demised Premises");

 

AND, WHEREAS, Landlord and Tenant desire to modify and amend certain terms and conditions set out therein;

 

NOW, THEREFORE, pursuant to the foregoing and in consideration of the premises and mutual benefits to accrue to Landlord and Tenant under and by virtue of this amendment, Landlord and Tenant agree that effective of even date herewith, the following terms and conditions of the Lease shall be, and they hereby are, amended as follows:

 

	
I.

	
The Lease Term is hereby extended for one period of thirty-six (36) months commencing November 1, 2006 and shall expire at 6:00 pm on October 31, 2009.

 

	
IL

	
Base Rental shall be in accordance with the following schedule:

 

	Months	 	Ratel Annual Amounti	 	Monthly Installtnent/RSF
	11/01/06-10/31/09 	 	518.00 $81,126.00	 	$6,760.50

 

Per square foot of Net Rentable Area per annum

 

2 Expressed on an annualized basis even though the applicable period may be longer or shorter than twelve months.

 

With respect to Schedule 1 Summary Lease Terms, Tenant shall have the use of two (2) additional covered reserved parking spaces underneath the Building at a monthly cost of $50.00 per space plus tax. Tenant's surface parking allotment shall be reduced by two parking spaces for a total of sixteen parking spaces.

 

 

	Payment Data 1' Amendment 2006	1

  

 

	
IV.

	
With respect to Schedule 1 Summary Lease Terms, the Area of the Building is hereby changed to144,718 rentable square feet.

 

IT IS HEREBY AGREED BY THE PARTIES HERETO that with the exception of those terms and conditions specifically modified and amended here, the Lease Agreement shall remain in full force and effect in all its terms and conditions.

 

NOW, THEREFORE, THE PARTIES HERETO EXECUTE THIS FIRST AMENDMENT WITH THE INTENT TO BE LEGALLY BOUND HEREBY.

 

EXECUTED in multiple copies this 6 day of February, 2006.

 

	LANDLORD: 	 	 	TENANT:	 
	 	 	 	 	 	 
	FROST NATIONAL BANK, TRUSTEE	 	 	PAYMENT DATA SYSTEMS, INC.	 
	FOR A DESIGNATED TRUST	 	 	  

	 
	 	 	 	 	 
	By: 	
REOC Partners, Ltd., a Texas limited 

	 	By:	 
	 	
Partnership, As Agent for Landlord 

	 	Name:	 	 
	 	
 

	 	Title :	 	 
	 	 	 	 	 	 
	By:	GWHLT, L.L.C., a Texas limited liability	 	 	 	 
	 	Company, Its General Partner	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:		 	 	 	 
	Name: 	Todd A. Gold	 	 	 	 
	Title: 	President	 	 	 	 

 

 

 

	Payment Data 1' Amendment 2006	2

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