Document:

exv10w43

 

EXHIBIT 10.43

LENNOX INTERNATIONAL INC.

DIRECTORS’ RETIREMENT PLAN

(As Amended and Restated as of January 1, 2008)

     THIS DIRECTORS’ RETIREMENT PLAN, made and executed in Richardson, Texas, by Lennox
International Inc., a Delaware corporation (the “Company”),

WITNESSETH THAT:

     WHEREAS, effective as of January 1, 1988, Lennox International Inc., an Iowa corporation,
established an unfunded retirement plan known as the Lennox International Inc. Directors’
Retirement Plan (the “Plan”) to provide retirement benefits to certain directors of said Lennox
International Inc.; and

     WHEREAS, the Company now desires to amend and restate the Plan to update it for tax law
compliance and to make certain other changes;

     NOW, THEREFORE, pursuant to Section 3.1 thereof, the Plan is hereby amended and restated in
its entirety to read as follows:

Article 1. Definitions

1.1 Definitions

a. “Board of Directors” means the Board of Directors of the Company.

b. “Company” means (i) Lennox International Inc., an Iowa corporation, for periods
of time prior to its merger into Lennox International Inc., a Delaware corporation, and
(ii) thereafter Lennox International Inc., a Delaware corporation.

c. “Compensation” means one-twelfth of the annual amount of the retainer fee being
paid in cash by the Company to a Director for services rendered as a Director immediately
prior to his/her Severance Date, where such cash amount shall be determined prior to any
reduction resulting from an election by the Director to be paid some portion of the
retainer fee in a form other than cash.

d. “Director” means an individual who is a member of the Board of Directors on or
after January 1, 1988, and prior to January 1, 1998.

e. “Retirement Benefit” means the retirement income provided to Directors in
accordance with the provisions of Article 2 of this Plan.

f. “Retirement Date” means the later of a Director’s Separation from Service or the
Director’s attainment of age 60.

 

 

g. “Separation from Service” means with respect to a Director, the Director’s
separation from service (within the meaning of Section 409A of the Internal Revenue Code
and the regulations and other guidance issued thereunder) with the group of service
recipients that includes the Company and each Affiliated Company (as hereinafter defined).
A Director’s Separation from Service does not occur so long as the Director continues to
provide services to the Company or any Affiliated Company as a director, an employee or an
independent contractor. For purposes of this definition, “Affiliated Company” shall mean
any incorporated or unincorporated trade or business or other entity or person, other than
the Company, that along with the Company is considered a single employer under Section
414(b) or Section 414(c) of the Internal Revenue Code.

h. “Severance Date” means the date a Director’s service on the Board of Directors
terminates for any reason.

i. “Specified Employee” means a specified employee within the meaning of Section
409A(a)(2) of the Internal Revenue Code and the regulations and other guidance issued
thereunder. Specified Employees shall be identified by the Compensation and Human
Resources Committee of the Board of Directors.

j. “Year of Service” means a period of 12 consecutive months of service as a
Director measured from the anniversary of election as a Director. In the event a Director
shall resign from the Board of Directors for the purpose of assuming a full-time management
position with the Company, any service with the Company subsequent to such resignation
shall be counted as service as a Director for purposes of “Vesting”, as defined in Section
2.1 under the Plan; provided, however, that said Director shall not be entitled to receive
any retirement benefit under the terms of the Plan until the active employment of said
Director with the Company has terminated.

Article 2. Retirement Benefits

	2.1	 	Vesting. A Director shall be entitled to a Retirement Benefit upon completing five
Years of Service and attainment of age 60 while still a Director or upon termination of
service as a Director after December 31, 1997, for any reason other than cause or voluntary
resignation. For purposes of this Article 2, a Director’s failure to seek reelection while
eligible for reelection shall be treated as a voluntary resignation.

	2.2	 	Retirement Benefit. The Company shall pay to a Director who is entitled to a
Retirement Benefit under Section 2.1, a monthly Retirement Benefit determined as follows:

	 	a.	 	In the case of any such Director whose service as a Director terminates after
December 31, 1997, for any reason other than cause or voluntary resignation, a monthly
Retirement Benefit equal to 100% of the Director’s Compensation.

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	 	b.	 	In the case of any other such Director, a monthly Retirement Benefit equal to
100% of the Director’s Compensation but reduced by 20% for each year (if any) by which
his/her total Years of Service on his/her Severance Date is less than ten.

A Director’s monthly Retirement Benefit shall commence in payment on the first day of the
first month immediately following the month in which the Director’s Retirement Date occurs
and continue thereafter during the lifetime of such Director; provided, however, that if
the Director is a Specified Employee as of the date of his/her Separation from Service,
then any payments that would be made to the Director during the first six months following
his/her Separation from Service shall be accumulated and paid on the first day of the
seventh month after the date of his/her Separation from Service (or if earlier, the first
day of the month after his/her death). If the Director dies while payments are being
accumulated pursuant to the preceding sentence, the accumulated payments shall be paid to
his/her surviving spouse, if any, or if none, to his/her estate.

Article 3. Miscellaneous Provisions

	3.1	 	Amendment and Termination. The Board of Directors shall have the authority to amend
or terminate this Plan in whole or in part at any time and from time to time; provided,
however, that the Retirement Benefit of any Director entitled thereto under Section 2.1 on or
before the date of such Board action shall not be adversely affected by any such amendment or
termination.

	3.2	 	Plan Administration. The general administration of this Plan shall be the
responsibility of the Company. The Board of Directors shall be authorized to construe and
interpret all of the provisions of this Plan, to adopt rules and practices concerning the
administration of the same and to make any determinations necessary hereunder, which shall be
binding and conclusive on all parties. The Plan is intended to provide compensation and
benefits that are not subject to the tax imposed under Section 409A of the Internal Revenue
Code and shall be interpreted and administered to the extent possible in accordance with such
intent.

	3.3	 	Continued Retention. This Plan shall not be construed as a promise to retain any
Director on the Board of Directors.

	3.4	 	Non-Alienation of Benefits. No benefit provided under this Plan may be assigned,
pledged, mortgaged, or hypothecated, and no such benefit shall be subject to legal process or
attachment for the payment of claims of any creditor of the Director.

	3.5	 	No Funding Obligation. This Plan is unfunded and the Retirement Benefits payable
hereunder shall be paid by the Company out of its general assets. The Company may make such
arrangements for its own benefit as it desires to provide

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	 	 	for the payment of any benefits hereunder, and no person shall have any claim against a
particular fund or asset owned by the Company or in which it has an interest to secure the
payment of the Company’s obligations hereunder. A Director entitled to a Retirement
Benefit under this Plan shall have no greater rights than those of an unsecured general
creditor of the Company.

	3.6  Governing Law. The provisions of this Plan shall be construed according to the laws
of the State of Texas.

       IN WITNESS WHEREOF, this amended and restated Plan has been executed this 7th day
of December, 2007, to be effective as of January 1, 2008.

	 	 	 	 	 	 	 
	 	 	LENNOX INTERNATIONAL INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	         /s/ William F. Stoll, Jr.
 

Title: Executive Vice President and Chief Legal Officer
	 	 

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EXHIBIT 4.2.3

     FIRST SUPPLEMENTAL INDENTURE, dated as of January 2, 2008 (this “First Supplemental
Indenture”), between Encore Acquisition Company, a Delaware corporation (the “Company”), and Wells
Fargo Bank, National Association, as trustee (the “Trustee”).

     WHEREAS, the Company and the Trustee have heretofore entered into an Indenture dated as of
April 2, 2004 (the “Indenture”) relating to the Company’s 6.25% Senior Subordinated Notes due 2014;
and

     WHEREAS, EAP Operating, Inc., a Delaware corporation and a Subsidiary Guarantor, has filed a
Certificate of Conversion under Delaware law to convert to a limited liability company formed under
the laws of Delaware, effective as of December 31, 2007, named EAP Operating, LLC; and

     WHEREAS, Section 11.03 of the Indenture states that Article 10 of the Indenture shall be
binding upon each Subsidiary Guarantor and its successors and assigns; and

     WHEREAS, Section 4.10 of the Indenture provides that the Company shall cause each Restricted
Subsidiary that Incurs any Indebtedness (other than Indebtedness Incurred pursuant to and in
compliance with the last cause of Section 4.03(b)(16), to, at the same, execute and deliver to the
Trustee a Guaranty Agreement pursuant to which such Restricted Subsidiary will Guarantee payment of
the Securities on the same terms and condition as those set forth in the Indenture; and

     WHEREAS, Section 9.01 provides that the Company and the Trustee may amend or supplement the
Indenture without the consent of any Holder to add Guarantees of any series of Securities as
permitted by the terms of the Indenture; and

     WHEREAS, all acts and things necessary to make this First Supplemental Indenture a valid and
binding agreement in accordance with the Indenture have been done or performed;

     NOW, THEREFORE, in consideration of the premises, agreements and obligations set forth herein
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree, for the equal and proportionate benefit of all
Holders of the Notes, as follows:

     SECTION 1. Capitalized Terms. Capitalized terms used in this First Supplemental
Indenture and not otherwise defined herein shall have the respective meanings assigned to such
terms in the Indenture.

     SECTION 2. Guarantees. EAP Operating, LLC hereby agrees, jointly and severally with
the Subsidiary Guarantors, to guarantee the Company’s obligations under the Notes on the terms and
subject to the conditions set forth in Article 10 of the Indenture and to be bound by all other
applicable provisions of the Indenture.

     SECTION 3. Continuing Effect of Indenture. Except as expressly provided herein, all
of the terms, provisions and conditions of the Indenture and the Notes outstanding thereunder shall
remain in full force and effect.

 

 

     SECTION 4. Construction of First Supplemental Indenture. This First Supplemental
Indenture is executed as and shall constitute an indenture supplemental to the Indenture and shall
be construed in connection with and as part of the Indenture.

     SECTION 5. Trust Indenture Act Controls. If any provision of this First Supplemental
Indenture limits, qualifies or conflicts with another provision of this First Supplemental
Indenture or the Indenture that is required to be included by the Trust Indenture Act of 1939 as in
force at the date as of which this First Supplemental Indenture is executed, the provision required
by said Act shall control.

     SECTION 6. Trustee Disclaimer. The recitals contained in this First Supplemental
Indenture shall be taken as the statements of the Company, and the Trustee assumes no
responsibility for their correctness. The Trustee makes no representations as to the validity or
sufficiency of this First Supplemental Indenture.

     SECTION 7. Governing Law. THIS FIRST SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     SECTION 8. Counterparts. This First Supplemental Indenture may be executed in any
number of counterparts, each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument.

[The remainder of this page is intentionally left blank]

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be
duly executed, as of the day and year first above written.

	 	 	 	 	 
	 	ENCORE ACQUISITION COMPANY

 	 
	 	By:  	/s/ Robert C. Reeves
 	 
	 	 	Robert C. Reeves  	 
	 	 	Senior Vice President, Chief Financial

Officer and Treasurer 	 
	 
	 	EAP OPERATING, LLC

 	 
	 	By:  	/s/ Robert C. Reeves
 	 
	 	 	Robert C. Reeves  	 
	 	 	Senior Vice President, Chief Financial

Officer and Treasurer 	 
	 
	 	EAP PROPERTIES, INC.

 	 
	 	By:  	/s/ Robert C. Reeves
 	 
	 	 	Robert C. Reeves  	 
	 	 	Senior Vice President, Chief Financial

Officer and Treasurer 	 
	 
	 	ENCORE OPERATING, L.P.

 	 
	 	By:  	EAP Operating, LLC, its general partner
 	 
	 	 	 
	 	By:  	                                                     /s/ Robert C. Reeves
 	 
	 	 	Robert C. Reeves  	 
	 	 	Senior Vice President, Chief Financial

Officer and Treasurer 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	ENCORE OPERATING LOUISIANA, LLC

 	 
	 	By:  	/s/ Thomas H. Olle
 	 
	 	 	Thomas H. Olle  	 
	 	 	President and Assistant Secretary 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Trustee

 	 
	 	By:  	/s/ Patrick T. Giordano
 	 
	 	 	Name:  	Patrick T. Giordano  	 
	 	 	Title:  	Vice President

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