Document:

TITLE

Exhibit 10.14

THIRD

AMENDMENT TO

MASTER TIMBER MANAGEMENT AGREEMENT

 

(Canada Operations)

 

 

THIS THIRD AMENDMENT (the “Amendment”) is dated as of the 6th day of

August, 1999, by and between HANCOCK NATURAL RESOURCES GROUP, INC., a Delaware

corporation (hereinafter referred to as "HNRGI" or the

"Client"), and ORM RESOURCES CANADA LTD., a British Columbia company

(hereinafter referred to as "Manager").  Capitalized terms not otherwise defined in this Amendment shall

have the meanings given in the Master Timber Management Agreement dated as of

December 5, 1997 and effective as of January 1, 1998 by and between Client and

H.A. Simons Ltd. ("Simons") (as amended, the "Master

Agreement").

WHEREAS, Client and Simons were parties to the Master Agreement.

WHEREAS, as of January 1, 1999, Manager acquired certain assets of

Simons Reid Collins, the forestry management division of Simons.

WHEREAS, in connection with the acquisition of assets by Manager,

Manager and Simons entered into that certain Assignment and Assumption

Agreement dated as of December 29, 1998 (the "Assignment Agreement"),

whereby Manager was assigned and assumed certain rights and obligations of

Simons under the Master Agreement. 

Client gave its consent thereto pursuant to that certain Consent to

Assignment of Master Timber Management Agreement dated as of December 29,

1998.  In addition, Manager and Client

entered into that certain Amendment to Master Timber Agreement dated as of

December 29, 1998 and intended to be effective as of January 1, 1999.

WHEREAS, the parties wish to further amend the Master Agreement with

respect to matter from and after January 1, 1999, all as set forth herein.

NOW, THEREFORE, the parties agree as follows:

1.             Property

Management Service Fee.  Exhibit 1A

of the Master Agreement is hereby replaced by Exhibit 1A to this

Amendment.  This replacement is

effective as of January 1, 1999.

2.             Miscellaneous.  This Amendment and all exhibits and

schedules hereto constitute an integral part of the Master Agreement.  Except as expressly amended by this

Amendment, the Master Agreement shall remain in full force and effect.

1

                IN WITNESS

WHEREOF, the parties hereto have executed this Amendment by and through their

properly authorized officers on the date first specified above.

 

	

  CLIENT:

  	

   

  	

  MANAGER: 

  
	

   

  	

   

  	

   

  
	

  HANCOCK NATURAL RESOURCE GROUP, INC.

  	

   

  	

  ORM RESOURCES CANADA LTD.

  
	

   

  	

   

  	

   

  
	

  By:

  	

  [Confidential Treatment for the

  omitted material has been requested and has been filed separately with the

  Securities and Exchange Commission]

  	

   

  	

  By:

  	

  /s/ Gary F. Tucker

  	 

	

  Its: Western Regional Manager

  	

   

  	

  Its: President & CEO

  
	

  Date: August 6, 1999

  	

   

  	

  Date: September 15, 1999

  
						

 

 

2

 

EXHIBIT 1A

TO THIRD AMENDMENT

Property Management Service Fee

 

	

  Property

  	

   

  	

  Acreage

  	

   

  	

  Rate $/Acre

  
	

  Comox

  	

   

  	

  28,669

  	

   

  	

  [Confidential Treatment for the

  omitted material contained in the entire column has been requested and has

  been filed separately with the Securities and Exchange Commission]

  
	

  Cowichan

  	

   

  	

  32,302

  	

   

  	

   

  
	

  Total

  	

   

  	

  60,971

  	

   

  	

   

  

 

 

3TITLE

Exhibit

10.15

fourth amendment to

master timber management agreement

 

(Canada Operations)

 

 

 

THIS FOURTH AMENDMENT (the “Amendment”) is dated as of the 23rd day of

December, 1999, by and between HANCOCK NATURAL RESOURCE GROUP, INC., a Delaware

corporation (hereinafter referred to as “HNRGI” or the “Client”), and ORM

RESOURCES CANADA LTD., a British Columbia company (hereinafter referred to as

“Manager”).  Capitalized terms not

otherwise defined in this Amendment shall have the meanings given in the Master

Timber Management Agreement dated as of December 5, 1997, and effective as

of January 1, 1998, by and between Client and H.A. Simons Ltd. (“Simons”),

as amended by a Consent to Assignment of Master Timber Management Agreement

dated as of December 29, 1998; by an Assignment and Assumption Agreement

dated as of December 29, 1998; by an Amendment to Master Timber Management

Agreement dated as of December 29, 1998; by a Second Amendment to Master

Timber Management Agreement dated as of July 26, 1999; and by a Third

Amendment to Master Timber Management Agreement dated as of August 6,

1999, collectively the “Master Agreement.”

WHEREAS, the parties wish to further amend the master Agreement with

respect to matters from and after January 1, 2000, all as set forth herein.

NOW, THEREFORE, the parties agree as follows:

1.             Term.  The term of the Master Agreement shall be

extended and will continue to and include December 31, 2000.

2.             Property

Management Service Fee.  Exhibit 1A

of the Master Agreement is hereby replaced by Exhibit 1A to this

Amendment.  This replacement is

effective as of January 1, 2000.

3.             Miscellaneous.  This Amendment and all exhibits and

schedules hereto constitute an integral part of the Master Agreement.  Except as expressly amended by this Amendment,

the Master Agreement shall remain in full force and effect.

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment by

and through their properly authorized officers on the date first specified

above.

 

	

  CLIENT:

  	

   

  	

  MANAGER:

  
	

   

  	

   

  	

   

  
	

  HANCOCK NATURAL RESOURCE GROUP, INC

  	

   

  	

  ORM RESOURCES CANADA LTD. 

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

  /s/ Unreadable

  	

   

  	

  By:

  	

  /s/ Gary F. Tucker

  
	

   

  	

   

  	

   

  
	

  Its:

  	

  Vice President

  	

   

  	

  Its:

  	

  President

  
	

   

  	

   

  	

   

  
	

  Date: 

  	

  1/10/00

  	

   

  	

  Date: 

  	

  1/6/00

  

 

 

2

 

EXHIBIT 1A

TO FOURTH AMENDMENT

PROPERTY MANAGEMENT SERVICE FEE

 

 

	

  Property

  	

   

  	

  Acreage 

  (As of 1/1/2000)

  	

   

  	

  Rate

  ($/Acre/Year)

  (CD$)

  
	

  Comox

  	

   

  	

  28,669

  	

   

  	

  [Confidential Treatment for the

  omitted material contained in the entire column has been requested and has

  been filed separately with the Securities and Exchange Commission]

  
	

  Lake Cowichan

  	

   

  	

  32,302

  	

   

  	

   

  
	

  Total

  	

   

  	

  60,971

  	

   

  	

   

  

 

 

3TITLE

Exhibit

10.16

 

FIFTH

AMENDMENT TO

MASTER TIMBER MANAGEMENT AGREEMENT

 

(Canada Operations)

 

THIS FIFTH AMENDMENT (the “Amendment”) is dated as of the lst day of

December, 2000, by and between HANCOCK NATURAL RESOURCE GROUP, INC., a

Delaware corporation (hereinafter referred to as “HNRGI” or the “Client”), and ORM

RESOURCES CANADA LTD., a British Columbia company (hereinafter

referred to as “Manager”).  Capitalized

terms not otherwise defined in this Amendment shall have the meanings given

therefor in that certain Master Timber Management Agreement effective as of

January 1, 1998, as amended by the agreements listed on Exhibit A

hereto (herein collectively the “Master Agreement”).

WHEREAS, the parties hereto are parties to the Master Agreement, and

WHEREAS, the parties wish to amend the Master Agreement, all as set

forth herein,

NOW, THEREFORE, the parties hereby agree as follows:

1.             Extension of Term.  The term of the

Master Agreement is hereby extended for an additional one (1) year period

commencing January 1, 2001 and continuing through and including

December 31, 2001.

2.             Property Management Service Fee.  Exhibit lA of

the Master Agreement is hereby replaced by Exhibit lA to this

Amendment.  This replacement is

effective as of January 1, 2001.

3.             Decision Making and Signing

Authority.  Effective immediately, Exhibit 1B of

the Master Agreement is hereby replaced by Exhibit 1B to this Amendment.

4.             Real Estate Sales Contract.  Effective

immediately, Exhibit 2A of the Master Agreement is hereby replaced by Exhibit

2A to this Agreement.

5.             Additional Services.  The compensation for

additional management services outlined in Exhibit 1A of the Master

Agreement is hereby replaced by Exhibit B of this Agreement.  This replacement is effective as of

January 1, 2001.

6.             Disposition and Acquisition Time

and Material Fees.  The compensation for disposition and

acquisition services outlined in Exhibit lA of the Master Agreement is

hereby replaced by Exhibit 3B to this Agreement.  This replacement is effective as of

January 1, 2001.

7.             Plans and Endowments.  Effective

immediately, Section 4.02 of the Master Agreement (as previously amended by the

Amendment dated December 29, 1998) is amended by deleting the definition

of “Plans and Endowments” therein and inserting the following in its stead:

 

 

“Plans and Endowments means pension fund or retirement plans and

accounts, endowments or foundations domiciled in the United States or Canada

and organized and operated pursuant to the United States or Canadian law

primarily or exclusively for the benefit of persons living within those

jurisdictions; provided, however, that the terms “endowments” and “foundations”

shall not include organizations or entities that own or acquire timberlands for

conservation, environmental enhancement, wildlife protection or purposes other

than commercial timberland activities.”

8.             Manager’s Primary Duties and

Responsibilities.  Effective January 1, 2001, Section 1.02

of the Master Agreement shall be amended by including the following additional

Manager duties and responsibilities:

(r)            Manager shall

participate in timber landowner association working groups and committees, such

as PFLA, WFPA, OFIC, and CFA, at a level to be mutually determined by Client

and Manager.

(s)           Manager shall

support Client’s efforts in client service, including support in planning and

implementation of routine client tours, and in responding to routine

property-related client information requests.

(t)            Manager shall

assist Client in periodic, routine special projects, including cost

benchmarking, data tracking, reporting, or mapping requests that potentially

add value to Client’s properties. Manager shall not be responsible for

out-of-pocket expenses associated with such projects, nor is this section

intended to address large-scale projects.

(u)           Manager shall

monitor and participate in forest research cooperatives as needed, so that

Manager’s forest management planning and implementation reflects the currently

publicly available knowledge and technology. All new strategies and tactics in

property management shall be pre-approved by Client.

(v)           Manager shall

collect clonal family data on trees to be planted (when available) and record

the information within the stand level data system as part of the standard

planting information process.

(w)          Manager shall provide

and maintain a Forest Inventory System and a Forest Mapping System (including

GIS) for Client, which shall include the parameters set forth in Exhibits 2D

and 2E, respectively.

 

2

 

Existing Section 2.02(e) is amended by continuing the last sentence

thereof as follows: “and a forest suppression plan; said plans to be updated

annually by May 31.”

Existing Section 2.02(f) is amended by adding the following at the end

thereof: “Manager shall further assist Client and its representatives in

resolving legal parcel problems and other land use problems.”

Existing Section 2.02(m) is amended by deleting the first sentence

thereof and inserting the following in its stead: “Manager shall be responsible

for performing all usual and customary timberland management functions,

including but not limited to negotiating terms of and preparing all easements,

licenses and other land use agreements on forms pre-approved by Client.”

9.             Insurance.  Effective

January 1, 2001, Section 5.01 of the Master Agreement shall be amended as

follows:

•             In

subsection (a)(i) delete the two references to “$500,000” and insert in their

stead “$2,000,000.”

•             Add

the following sentence at the end of subsections (a)(i) and (ii) and (b)(i):

“Such policy shall name

Client, its subsidiary companies and the owner of each property that is subject

to this Master Agreement as an Additional Insured.”

•             Add

the following phrase after the word “emergency” in subsection (b): “(provided, however,

that Manager shall immediately notify Client of each such waiver).”

•             In

subsection (b)(i) delete the reference to “$500,000” and insert “$1,000,000” in

its stead.

10.          Use of Name: Press Releases.  Effective

immediately the Master Agreement is amended by including the following

provision:

“Section

11.  Use of Name: Press Releases:  Not less than five (5) business days prior

to distributing any press release, sales or marketing literature or other

written material to unaffiliated third parties, which refers to the other party

or any of its affiliates by name, or that make reference to or representations

about the nature of the relationship in which the parties are engaged, Manager

or Client (as the case may be) shall furnish the other party with a copy of

such materials and shall refrain from distribution thereof if the other party

reasonably objects in writing within five (5) business days of its receipt

thereof.  Each party agrees to cooperate

 

 

3

 

with the other to facilitate any desired press release or other written

communication, to promptly review any suggested material (or the pertinent

provisions thereof which refer to such party), to generally permit the use of

its name by the other party in any factually accurate description of this

Master Agreement, and to not unreasonably object to the manner in which its

name may be used.  Each party also

acknowledges that communications to Plans and Endowments (and their advisors

and consultants) that are invested in Ultimate Client Portfolios will be made

periodically and will necessarily disclose the existence of this Master

Agreement, identify and refer to the parties by name, and each party agrees

that the use of its name in such communications need not be approved.  Similarly, each party acknowledges that

communications required by the Securities and Exchange Commission will be made

periodically, and may disclose the existence of this Master Agreement, identify

and refer to the parties by name, and each party agrees that the use of its

name in such communications need not be approved.”

11.          Miscellaneous.  This Amendment and

all exhibits and schedules hereto constitute an integral part of the Master

Agreement.  Except as expressly amended

by this Amendment, the Master Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment by

and through their properly authorized officers on the date first specified

above.

	

  CLIENT:

  	

   

  	

   

  	

  MANAGER:

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  
	

  HANCOCK

  NATURAL RESOURCE

  GROUP, INC., a Delaware corporation

  	

   

  	

  ORM

  RESOURCES CANADA LTD.,

  a British Columbia corporation

  
	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

  DNL

  
	

  By:

  	

  [Confidential Treatment for the omitted material has been

  requested and has been filed separately with the Securities and Exchange

  Commission]

  	

   

  	

  By:

  	

  /s/ Allen E. Symington

  
	

   

  	

  [Confidential Treatment for the omitted material has been

  requested and has been filed separately with the Securities and Exchange

  Commission]

  	

   

  	

   

  	

  Allen

  E. Symington

  Chairman and Chief Executive Officer

  
	

   

  	

  Senior

  Vice President

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  
							

4

 

EXHIBIT A

TO FIFTH AMENDMENT

List of Amendments

to Master Agreement

Amendments

to Master Agreement

1.             Consent to Assignment of Master

Timber Management Agreement dated December 29, 1998

2.             Amendment dated December 29,

1998

3.             Second Amendment dated July 26,

1999

4.             Third Amendment dated August 6,

1999

5.             Fourth Amendment dated December 23,

1999

 

Work

Authorizations

1.             Number OPA C0001 dated January 17,

2000

2.             Number OPA C0002 dated April 3,

2000

 

5

 

EXHIBIT 1B

TO FIFTH AMENDMENT

DECISION MAKING AND SIGNING AUTHORITY

Canadian Properties

	

  CATEGORY

  	

   

  	

  MANAGER’S

  AUTHORITY ($US)

  
	

  1.

  	

  Timber sales contracts

  stumpage and log sales including salvage and miscellaneous forest products

  	

   

  	

  [Confidential Treatment for the omitted material contained

  in the entire column has been requested and has been filed separately with

  the Securities and Exchange Commission]

  
	

  2.

  	

  Logging

  and trucking contracts

  	

   

  	

   

  
	

  3.

  	

  Land Use permits

  i.e., road use, rock/gravel/leases, regulatory permits, licenses (inc.

  hunting), ferns, oil and gas, etc.

  	

   

  	

   

  
	

  4.

  	

  Budgeted Capital

  Expenses

  contracts and checks, i.e., site prep, planting, herbicide, PCT, logging

  roads, etc.

  	

   

  	

   

  
	

  5.

  	

  Budgeted Operating

  Expenses

  checks; except management fees

  	

   

  	

   

  
	

  6.

  	

  Budgeted Operating

  Expenses

  checks; management fees

  	

   

  	

   

  
	

  7.

  	

  All

  legal invoices

  	

   

  	

   

  
	

  8.

  	

  Disposition of

  properties — with

  HNRIC/COF approval closing costs; expenses; manager’s compensation; P&S

  contracts and closing documents

  	

   

  	

   

  

 

 

6

 

All

Client contracts to be signed by authorized preparer and a minimum of two

authorized individuals up to respective limits of their signing authority.

 

Manager — to provide and update list of its authorized

individuals periodically.

	

  Authorized

  HNRGI Associates:

  	

   

  	

  Chief

  Operations Officer

  
	

   

  	

   

  	

  Director

  of Forest Operations & Stewardship

  
	

   

  	

   

  	

  Northwest

  Regional Manager

  
	

   

  	

   

  	

  Northwest

  Regional Foresters

  

Decision-making

authority:

	

   

  	

  •

  	

   

  	

  Budget

  approval must be made by the HNRGI Northwest Regional Manager and Director of

  Forest Operations & Stewardship,;

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

  •

  	

   

  	

  Dispositions

  require approval of Hancock Natural Resource Investment Committee and JHLICo

  Committee of Finance; except that dispositions under [Confidential Treatment for the omitted material has

  been requested and has been filed separately with the Securities and Exchange

  Commission] must be approved by (i) a Regional Forest Manager or

  Director of Forest Operations & Stewardship, and

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

  •

  	

   

  	

  All

  recorded instruments (including deeds) to be signed by authorized officers of

  JHLICo, John Hancock Timber Resource Corp., HNRGI or other legal owner,

  respectively.

  

 

7

 

Exhibit 1A

To Fifth Amendment

Property Management Service Fee

Canadian Properties /Canadian Dollars

	

  Property

  	

   

  	

  Acreage

  Forecast 

  (as of 10/31/00)

  	

   

  	

  Base

  Rate 

  CDN$/Acre Fee

  
	

  Lake Cowichan

  	

   

  	

  32,302

  	

   

  	

  [Confidential Treatment for the

  omitted material contained in the entire column has been requested and has

  been filed separately with the Securities and Exchange Commission]

  
	

  Comox

  	

   

  	

  28,639

  	

   

  	

   

  
	

  Total

  	

   

  	

  60,941

  	

   

  	

   

  

 

 

8

 

EXHIBIT 2A

TO FIFTH AMENDMENT

Real Estate Sales

Contract

1.             Contract

of Purchase and Sale — British Columbia

2.             Contract

of Purchase and Sale — Comox Timber LTD.

 

9

 

EXHIBIT 2D

TO FIFTH AMENDMENT

Computerized

Mapping System Requirements

The computerized mapping system shall be a system that is reasonable

and customary for the mapping and spatial analysis of large forest land bases

in the Pacific Northwest.  Such a system

will provide, but not necessarily be limited to the following:

Collection of data using GPS units.

Downloading data from GPS units to the mapping system.

Collection of data from heads-up digitizing, digitizing pads and

scanners.

Importing map and other spatial data from external public and private

sources using common data transfer formats.

Editing and maintenance functions for the spatial databases.

Links to attribute data

stored in resource attribute databases (such as forest inventory), creating the

ability to analyze 

data by spatial characteristics with the capability to link to a harvest

scheduling system.

Automated standard map making processes.

Processes for creating custom maps.

Processes for making standard and ad hoc queries of the spatial

databases.

Automated backups of the spatial databases.

Downloading the spatial data into one or more standard export formats.

Downloading any attribute (non-spatial) data into standard ASCII

tables.

 

10

 

EXHIBIT 2E

TO FIFTH AMENDMENT

Forest Inventory

System Requirements

The computerized inventory system shall be a system that is reasonable

and customary for the management of large forest inventories in the Pacific

Northwest.  Such a system will provide

but not necessarily be limited to the following:

Collection of data using field data recorders or cruise cards.

Downloading data from the field data recorders to the inventory system.

Entering, storing and maintaining plot data in the inventory databases.

Compilation of plot data for specified aggregations of plots.

Loading and storage of compiled cruise results into the forest inventory

databases as stand tables.

Processes for entering,

storing, editing and maintaining stand level characteristics such as site, age,

gross and net volumes, avg. DBH, stems per acres, and other pertinent

data.  Such data shall be in total by

stand, by species or other aggregation as appropriate.

Processes for updating of inventory information for annual growth by

stand and projecting such growth over time.

Processes for editing and maintenance functions for the various

inventory databases.

Obtaining stand areas from the computerized mapping system.

Processes for production of standard forest inventory reports.

Processes for development of standard and ad hoc queries of the

inventory databases.

Automated backups of the inventory databases.

Downloading the cruise and inventory data into standard ASCII tables.

 

11

 

EXHIBIT B

TO FIFTH AMENDMENT

Rate Schedule for Additional Services

Time will be billed at the following rates:

	

  Position

  Category

  	

   

  	

  Billing

  Rate (CDN$/hour)

  
	

  Clerk

  	

   

  	

  [Confidential Treatment for the

  omitted material contained in the entire column has been requested and has

  been filed separately with the Securities and Exchange Commission]

  
	

  Administrative Assistant

  	

   

  	

   

  
	

  Technician

  	

   

  	

   

  
	

  Forester/Analyst I

  	

   

  	

   

  
	

  Forester/Analyst II

  	

   

  	

   

  
	

  Senior Forester/Analyst III

  	

   

  	

   

  
	

  Manager/Area Manager

  	

   

  	

   

  
	

  Director/Region Manager

  	

   

  	

   

  
	

  Executive

  	

   

  	

   

  

 

Expenses will be billed as follows:

Mileage                                  CDN

[Confidential Treatment for the omitted

material has been requested and has been filed separately with the Securities

and Exchange Commission] / mile

Materials and Services        [Confidential Treatment for the omitted material has

been requested and has been filed separately with the Securities and Exchange

Commission]  times actual cost

 

12

 

EXHIBIT 3B

TO FIFTH AMENDMENT

DISPOSITION AND ACQUISITION TIME AND MATERIALS FEES

	

  Position

  Category

  	

   

  	

  Billing

  Rate  (CDN$/Hour)

  
	

  Clerk

  	

   

  	

  [Confidential Treatment for the

  omitted material contained in the entire column has been requested and has

  been filed separately with the Securities and Exchange Commission]

  
	

  Administrative Assistant

  	

   

  	

   

  
	

  Technician

  	

   

  	

   

  
	

  Forester/Analyst I

  	

   

  	

   

  
	

  Forester/Analyst II

  	

   

  	

   

  
	

  Senior Forester/Analyst

  	

   

  	

   

  
	

  Manager/Area Manager

  	

   

  	

   

  
	

  Director/Region Manager

  	

   

  	

   

  
	

  Executive

  	

   

  	

   

  

 

Markup to Cost of

Materials and Services      [Confidential Treatment for the omitted material has

been requested and has been filed separately with the Securities and Exchange

Commission]  

(Note: Services meaning and intending to refer to services

contracted to others by Manager.)

Mileage charges                                               CDN

[Confidential Treatment for the omitted

material has been requested and
  has been filed separately with the

Securities and Exchange Commission]

*Rates listed are for typical classifications of

positions that will be used for disposition and acquisition services.  Other job classifications may be used with

prior written agreement between Manager and Client.

 

13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00037-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00037-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00037-of-00352.parquet"}]]