Document:

Exhibit 10.2

 

AMENDMENT
No. 1 to Transfer Agency Agreement

 

This Amendment (this “Amendment”)
to the Transfer Agency Agreement dated as of September 26, 2017 (the “Agreement”) is by and between DST
Systems, Inc., a corporation organized and existing under the laws of the State of Delaware (“DST”) and XAI
OCTAGON FLOATING RATE & ALTERNATIVE INCOME TERM TRUST, a statutory trust organized under the laws of the State of Delaware (“Fund”)
is effective March 16, 2021 (“Effective Date”).

 

The Fund wishes to add preferred shares of beneficial
interest, which may be divided into one or more series as determined from time to time by the Board of Trustees of the Fund, as an additional
class of shares of the Fund (“Additional Class”) to receive services under the Agreement. Each of DST and Fund hereby agree
to accept the Additional Class as additional “Shares” (as such term is defined in the Agreement) of the Fund. By its signature
below, the Fund confirms to DST, as of the Effective Date hereof, and after giving effect to this Amendment, its representations and warranties
set forth in the Agreement.

The parties acknowledge that Exhibit D, attached hereto as amended
by this Amendment, lists all active funds and “Shares” (as such term is defined in the Agreement) under the Agreement.

 

Except as specifically set forth herein, all other
terms and conditions of the Agreement shall remain unmodified and in full force and effect, the same being confirmed and republished hereby.
In the event of any conflict between the terms of the Agreement and the terms of this Amendment with regard to the subject matter hereof,
the terms of this Amendment shall control.

 

This Amendment may be executed by the parties
hereto on any number of counterparts, delivery of which may occur by facsimile or as an attachment to an electronic communication, each
of which shall be deemed an original, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

 

     

     

    

  

IN WITNESS WHEREOF, the Parties hereto have
caused this Amendment to be executed as of the day and year first above written by their respective duly authorized officers.

 

	XAI OCTAGON FLOATING RATE & 	 	 	 
	ALTERNATIVE INCOME TERM TRUST	 	 	DST SYSTEMS, INC.
	 	 	 	 	 
	By:	/s/ Benjamin McCulloch	 	By:	/s/ Rahul Kanwar 
	 	 	 	 	 

 

	Print Name:	Benjamin McCulloch	 	Print Name:	Rahul Kanwar

 

	Title:	Secretary and Chief Legal Officer	 	Title:	Authorized Representative 

 

 

    1 

     

    

  

EXHIBIT D

LIST OF FUNDS

 

	Fund 

#	Fund Name	Class of 

Shares	CUSIP
	 	XAI OCTAGON FLOATING RATE & ALTERNATIVE INCOME TERM TRUST	Common Shares	98400T106
	Preferred Shares	98400T205

 

 

    2kirk-ex1013_102.htm

Exhibit 10.13 

Kirkland’s, Inc. (the “Company”) 

Summary of Named Executive Officer Compensation 

  

 

Salary. The following table sets forth the 2020 and 2021 annual base salaries provided to the Company’s Chief Executive Officer, Chief Financial Officer and the next other most highly compensated executive officer to be named in the Company’s proxy statement to be filed in connection with the 2021 annual meeting of stockholders (the “Named Executive Officers”).

 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
  
	
2020 Salary
	
 
	
  
	
2021 Salary
	
 

	
Steven C. Woodward
	
  
	
$
	
700,000 
	
 
	
  
	
$
	
750,000 
	
 

	
Nicole A. Strain
	
  
	
$
	
360,000 
	
 
	
  
	
$
	
400,000 
	
 

	
Jeffrey T. Martin
	
  
	
$
	
350,000 
	
 
	
  
	
$
	
375,500 
	
 

Non-Equity Incentive Plan Compensation. The Company pays annual non-equity incentive compensation under its Amended and Restated 2002 Equity Incentive Plan. For fiscal 2020, the Company’s performance goal was structured such that for named executive officers, 100% payout of the applicable target bonus is attained upon achieving 100% of the Company’s designated EBIT goal, which corresponds to operating income (loss) on the Company’s financial statements prepared in accordance with generally accepted accounting principles, with threshold bonus (50% of target payout) attained upon achievement of 75% of the EBIT goal and maximum bonus (150% target payout) attained upon achieving 150% of the Company EBIT goal. Bonus amounts earned for fiscal 2020 were paid at the maximum level based on fiscal 2020 Company EBIT.

The bonuses paid to Named Executive Officers in fiscal 2021 for fiscal 2020 performance pursuant to the Company’s non-equity incentive compensation plan under the Company’s Amended and Restated 2002 Equity Incentive Plan were as follows:

 

	
 
	
Fiscal 2020
Bonus Amount
	
 

	
Steven C. Woodward
	
$
	
1,050,000 
	
 

	
Nicole A. Strain
	
$
	
324,000 
	
 

	
Jeffrey T. Martin
	
$
	
262,500 
	
 

For fiscal 2021, the Company’s performance goal is structured such that for named executive officers, 100% payout of the applicable target bonus is attained upon achieving 100% of the Company’s designated EBIT goal, with threshold bonus (50% of target payout) attained upon achievement of 75% of the EBIT goal and maximum bonus (200% target payout) attained upon achieving 125% of the Company EBIT goal. The following table sets forth the fiscal 2021 bonus targets as a percentage of 2021 base salary set for the Named Executive Officers: 

  

	
 
	
  
	
Threshold
	
 
	
 
	
Target
	
 
	
 
	
Maximum
	
 

	
Steven C. Woodward
	
  
	
 
	
50 
	
% 
	
 
	
 
	
100 
	
% 
	
 
	
 
	
200 
	
% 

	
Nicole A. Strain
	
  
	
 
	
30 
	
% 
	
 
	
 
	
60 
	
% 
	
 
	
 
	
120 
	
% 

	
Jeffrey T. Martin
	
  
	
 
	
25 
	
% 
	
 
	
 
	
50
	
% 
	
 
	
 
	
100 
	
% 

 

Equity Based Incentives. The Company awards equity incentive compensation under its Amended and Restated 2002 Equity Incentive Plan to Named Executive Officers. On March 24, 2021, the Named Executive Officers were granted the following awards of time-based vesting restricted stock units (“RSUs”) and performance-based RSUs:

  

	
8
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
  
	
Time-Based
RSUs
	
 
	
  
	
Target

Performance-Based RSUs
	
 

	
Steven C. Woodward
	
  
	
 
	
37,986 
	
  
	
  
	
 
	
37,986 
	
  

	
Nicole A. Strain
	
  
	
 
	
12,156 
	
  
	
  
	
 
	
12,156
	
  

	
Jeffrey T. Martin
	
  
	
 
	
9,117 
	
  
	
  
	
 
	
9,117 
	
  

  

Time-based RSUs vest ratably over three years. Performance-based RSUs for the 2021 and 2022 performance periods cliff vest at the end of fiscal 2023 based on the achievement of annual EBITDA in relation to targeted EBITDA during each of the 2021 and 2022 fiscal year performance periods with between 50% and 200% of the targeted performance-based RSUs listed in the table above vesting, if at all, which is then adjusted by a 3-year relative total shareholder return performance modifier of +/- 20% applied to the earned shares.

 

Additional Information. The foregoing information is summary in nature. Additional information regarding the compensation of Named Executive Officers may be provided in the Company’s filings with the SEC, including the proxy statement to be filed in connection with the 2021 annual meeting of stockholders.kirk-ex1014_153.htm

Exhibit 10.14

 

 

FORM OF

PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT

UNDER THE

KIRKLAND'S, INC. AMENEDED AND RESTATED

2002 EQUITY INCENTIVE PLAN

 

KIRKLAND’S, INC. (the “Company”) has, on __________ (the “Grant Date”), granted to ____________ (the “Grantee”) Performance-Based Restricted Share Units (“PSUs”) with respect to the number of Shares set forth below in Section 1 (the “Award Agreement”). This Award is subject to the terms set forth herein, and in all respects is subject to the terms and provisions of the Kirkland’s, Inc. Amended and Restated 2002 Equity Incentive Plan, which terms and provisions are incorporated herein by this reference. Unless the context herein requires otherwise, the terms defined in the Plan will have the same meanings when used in this Award Agreement.

 

1.Grant of Performance-Based Restricted Stock Units. Subject to the terms and conditions set forth herein, the Company hereby awards to the Grantee _________ PSUs. The number of PSUs subject to this Award is subject to adjustment in accordance with the Plan.

 

2.Vesting. The PSUs shall vest, if at all, on _______, provided the Grantee has remained continuously in service with the Company through the Vesting Date, but only if and to the extent: (x) the Company has achieved the performance targets over the period (the “Performance Period”) set forth on Exhibit A attached hereto, and (y) the Grantee has remained in service with the Company continuously until the Vesting Date. The number of PSUs that vest may be greater than or less than the Target Award, as more specifically set forth on Exhibit A.

 

For purposes of this Award Agreement, service with the Company will be deemed to include service with an Affiliate of the Company, so long as such entity remains an Affiliate. Except as provided above, upon a cessation of the Grantee’s service with the Company, any PSU that has not vested on or prior to the date of such cessation will then be forfeited and the Grantee will have no further rights with respect thereto.

 

3.Delivery of Shares.

 

(a)One Share will be issued in respect of each vested PSU within 15 days following the applicable vesting date or event.

 

(b)The Grantee will not have any stockholder rights or privileges, including voting or dividend rights, with respect to the Shares subject to PSUs until such Shares are actually issued and registered in the Grantee’s name (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). Any certificate evidencing Shares issued hereunder will contain such legends as may be required by the Plan, or as may be required by or advisable under any applicable law or regulation.

 

(c)In the event of a Change in Control, the Company reserves the right to substitute cash or other substitute consideration for the right to receive Shares hereunder, provided that at the time of that Change in Control, such substitute consideration has a value (as reasonably determined by the Board) equal to the then current Fair Market Value of the Shares subject hereto and provided further that such substitute consideration vests and becomes payable on the same basis as provided herein with respect to these PSUs and the Shares subject hereto (or on such accelerated basis as may then be determined by the Board, in its discretion).

 

4.Non-Transferability. Neither the PSUs nor any right with respect thereto may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee other than by will or by the laws of descent and distribution, and any purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance will be void and unenforceable against the Company.

 

 

 

 

5.Tax Treatment and Withholding.

 

(a)The Grantee has had the opportunity to review with his or her own tax advisors the federal, state and local tax consequences of the transactions contemplated by this Award Agreement. The Grantee is relying solely on such advisors and not on any statements or representations of the Company or any of its agents.

 

(b)It is a condition to the Company’s obligation to issue Shares hereunder that the Grantee pay to the Company such amount as may be required to satisfy all tax withholding obligations arising in connection with this Award (or otherwise make arrangements acceptable to the Company for the satisfaction of such tax withholding obligations). If the required withholding amount required is not timely paid or satisfied, the Grantee’s right to receive such Shares will be permanently forfeited.

 

The Company, in its discretion, may withhold Shares otherwise issuable hereunder in satisfaction of the minimum amount required to be withheld in connection with this Award (based on the Fair Market Value of such Shares on the date of such withholding).

 

6.Communications. The Grantee hereby authorizes the Company to deliver electronically any prospectuses or other documentation related to this Award, the Plan and any other compensation or benefit plan or arrangement in effect from time to time. For this purpose, electronic delivery will include, without limitation, delivery by means of e-mail delivery or e-mail notification that such documentation is available on the Company’s Intranet site. Upon written request, the Company will provide to the Grantee a paper copy of any document also delivered to the Grantee electronically. The authorization described in this paragraph may be revoked by the Grantee at any time by written notice to the Company.

 

7.The Plan. The Grantee has received a copy of the Plan, has read the Plan and is familiar with its terms, and hereby accepts this Award subject to all of the terms and provisions of the Plan, as amended from time to time. Pursuant to the Plan, the Board is authorized to interpret the Plan and to adopt such rules and regulations not inconsistent with the Plan as they deem appropriate. The Grantee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board upon any questions arising under the Plan or this Award Agreement.

 

8.Entire Agreement. This Award Agreement, together with the Plan, represents the entire agreement between the parties with respect to the subject matter hereof and supersedes any prior agreement, written or otherwise, relating to the subject matter hereof. This Award Agreement may only be amended by a writing signed by each of the parties hereto.

 

9.Governing Law. The interpretation, performance and enforcement of this Award Agreement shall be governed by the laws of the State of Tennessee without regard to the principles of conflicts-of-laws.

 

10.Counterparts. This Award Agreement may be signed in two counterparts so that both the Grantee and the Company may have original signed copies, but such counterparts constitute one agreement and one grant.

 

IN WITNESS WHEREOF, the Company’s duly authorized representative and the Grantee have each executed this Award Agreement on the respective date below indicated.

 

KIRKLAND’S, INC.

 

 

By: ______________________________

 

GRANTEE:

 

(electronically accepted)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}]]