Document:

ex-10.htm

 

Amendment No. 2

to

Executive Employment Agreement

This Amendment No. 2 is made as of September 17, 2010, by and between Neal J. Keating (“Executive”) and Kaman Corporation ("Kaman" or "Company").

WITNESSETH:

WHEREAS, the Company and Executive entered into an Executive Employment Agreement which has most recently been amended as of January 1, 2010 (the “Employment Agreement”) and which is scheduled to expire on this date unless renewed by the parties; and

WHEREAS, the parties desire to renew the Employment Agreement in accordance with its terms and subject to the provisions of this Amendment;

NOW THEREFORE, in consideration of the mutual promises contained in this Amendment, Company and Executive agree as follows:

1.           Section 7(g) of the Employment Agreement is hereby amended in its entirety to read as follows:

“(g)           RETIREMENT.  Upon remaining employed with the Company until at least the attainment of age 65 or such other age at or after age 62 as shall be approved by the Committee (the “Retirement Eligibility Date”).  Nothing herein shall be construed as limiting the Executive’s right, if any, to terminate employment prior to the Retirement Eligibility Date and receive compensation and benefits, as applicable, provided under the respective terms of the Company’s benefit plans.”

 

2.           Section 8(e)(5) of the Employment Agreement is hereby amended in its entirety to read as follows:

 

“(5)           the Executive shall be considered to have “retired” on the Executive’s date of termination of employment with the Company on or following the Executive’s Retirement Eligibility Date for purposes of any plans, programs, agreements or arrangements with the Company or its affiliates; provided however, that the Executive shall not be treated as “retired” due to employment termination prior to age sixty-five with respect to any non-qualified deferred compensation plan subject to Section 409A of the Code to the extent that doing so would result in a violation thereof.”

 

 

  

- 1 -

  

3.           Section 10 (Section 4999 Excise Tax) of the Employment Agreement is hereby deleted in its entirety.

 

4.           Capitalized terms not otherwise defined in this Amendment shall have the meaning ascribed to them in the Employment Agreement.

 

5.           Except as expressly modified herein, all provisions of the Employment Agreement shall remain in full force and effect.

In Witness Whereof, Company and Executive have executed this Amendment.

	  	  	  
	  	  	
/s/ Neal J. Keating

	  	  	
Neal J. Keating

	  	  	  
	  	  	
9/16/10

	  	  	
Date

	  	  	  
	
Acknowledged and Agreed this 16th day of

	  	  
	
September, 2010

	  	  
	  	  	  
	
Kaman Corporation

	  	  
	  	  	  
	
/s/ Candace A. Clark

	  	  
	
By:  Candace A. Clark

	  	  
	
Its:  Senior Vice President & CLO

	  	  

  

- 2 -firstamendt.htm

 

AMENDMENT NO. 1 TO THE SHAREHOLDERS AGREEMENT

 

 

This AMENDMENT NO. 1 TO THE SHAREHOLDERS AGREEMENT (this “Amendment”) is entered into as of September 17, 2010, by and between Tutor Perini Corporation (f/k/a Perini Corporation), a Massachusetts corporation (the “Company”), and Ronald N. Tutor, a resident of California, in his capacity as the Shareholder Representative (as defined in the Shareholders Agreement (as defined below)) (“Tutor”).

 

 

W I T N E S S E T H:

 

WHEREAS, the Company, Tutor and the other shareholders listed on the schedule of shareholders that was attached thereto, entered into a Shareholders Agreement, made as of April 2, 2008 (the “Shareholders Agreement”);

 

 

WHEREAS, Section 9(a) of the Shareholders Agreement permits amendments to the Shareholders Agreement if signed in writing by the Company and Tutor (in his capacity as Shareholder Representative); and

 

 

WHEREAS, the Company and Tutor desire to amend the Shareholders Agreement as provided in this Amendment.

 

 

AGREEMENT:

 

 

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

 

 

Section 1. Defined Terms.  Capitalized terms used in this Amendment without separate definition shall have the respective meanings assigned to such terms in the Shareholders Agreement.

 

 

Section 2. Amendment to Section 1.  Section 1 of the Shareholders Agreement is hereby amended by deleting the definition of “Transfer” in its entirety and replacing it with the following:  “Transfer” means a sale, transfer, hypothecation, negotiation, pledge, assignment, encumbrance, grant of any option, warrant or other right to purchase, or otherwise dispose of, or any swap or any other agreement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of the Company Common Stock.

 

 

Section 3. Amendment to Section 5.  Section 5(a) of the Shareholders Agreement is hereby amended by:

 

  

  

  

 

(a) removing the words “seventy percent (70%)” and replacing them with “sixty percent (60%)”; and

 

 

(b) adding the following language immediately prior to the proviso in Section 5(a)(y)(ii): so long as such Transfer does not result, directly or indirectly, in the Transfer of shares, through one or a series of related transactions, equal to or greater than fifteen percent (15%) of the Total Voting Power to any “person” or “group” within the meaning of Section 13(d)(3) of the Exchange Act;

 

 

Section 4. Effect of Amendment.  The Parties hereto agree that except as expressly amended hereby, all terms of the Shareholders Agreement shall remain in full force and effect.  In the event of any inconsistency or conflict between the Shareholders Agreement and this Amendment, the terms, conditions and provisions of this Amendment shall govern and control.

 

 

Section 5. Entire Agreement.  This Amendment and the Shareholders Agreement, including the Exhibits and other documents referred to therein which form a part thereof, contain the entire understanding of the parties hereto with respect to the subject matter contained herein and therein.  From and after the execution of a counterpart hereof by the parties hereto, any reference to the Shareholders Agreement shall be deemed to be a reference to the Shareholders Agreement as amended hereby.

 

 

Section 6. Governing Law.  The interpretation and construction of this Amendment and all matters relating hereto shall be governed by the laws of the State of Massachusetts applicable to contracts made and to be performed entirely within the State of Massachusetts, without giving effect to any conflict of law provisions thereof.

 

 

Section 7. Counterparts.  This Amendment may be executed in counterparts, each of which shall constitute an original, and both of which taken together shall constitute one instrument.  Any signature page delivered by a facsimile machine shall be binding to the same extent as an original signature page.

 

 

Section 8. Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the parties and the other shareholders who are party to the Shareholders Agreement and their respective successors and permitted assigns.  No party may assign either this Amendment or any of its rights, interests, or obligations hereunder without the prior written approval of the other party.

 

 

[SIGNATURE PAGE FOLLOWS]

 

  

  

  

 

IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be duly executed, all as of the day and year first above written.

 

 

 

 

TUTOR PERINI CORPORATION

 

 

 

 

By:           /s/ William B. Sparks           

                                                                 Name:  William B. Sparks

                                                                 Title: Executive Vice President & Treasurer

 

 

 

/s/ Ronald N. Tutor            

Ronald N. Tutor,

as Shareholder Representativeex10_1.htm

FOURTH AMENDMENT TO

 

SERVICES AND DEVELOPMENT AGREEMENT

 

THIS FOURTH AMENDMENT TO SERVICES AND DEVELOPMENT AGREEMENT (the “Agreement”) is made and entered into as of the 30th day of September, 2010, by and between NTS MORTGAGE INCOME FUND, a Delaware corporation (“Fund”), and RESIDENTIAL MANAGEMENT COMPANY, a Kentucky corporation (“Residential”).

 

R E C I T A L S

 

A.  Effective as of January 1, 2009, Fund and Residential entered into that certain Services and Development Agreement, as amended by that certain First Amendment to Services and Development Agreement dated as of December 31, 2009,  that Second Amendment to Services and Development Agreement dated as of March 31, 2010 and that Third Amendment to Services and Development Agreement dated as of June 30, 2010 (collectively, the “Agreement”), which provided that Residential would manage, develop and operate the Fund’s real properties as set forth in the Agreement;

 

B.  The Term of the Agreement was extended until September 30, 2010;

 

C.  Fund and Residential now desire to further extend the Term of the Agreement through December 31, 2010, and to modify Section 2.2 thereof.

 

NOW, THEREFORE, in consideration of their mutual undertakings, IT IS AGREED by and between the parties hereto as follows:

 

1.           As of the date of this Fourth Amendment, the Term of the Agreement is hereby extended through December 31, 2010.

 

2.           Section 2.2 of the Agreement is hereby modified and amended to read as follows:

 

“Subject to Section 2.3 hereof, the term of this Agreement shall be for a period commencing on the effective date hereof and ending on December 31, 2010 (the “Term”).”

 

3.    Section 2.3 of the Agreement is hereby amended and modified to read as follows:

 

“This Agreement may be renewed only by written agreement of both parties on or before the expiration of the Term.”

 

4.           This Fourth Amendment may be signed in multiple counterparts, and, when counterparts are executed by all parties, such counterparts shall be deemed an original instrument.

 

5.           The parties agree that except as expressly amended or modified above, the Agreement shall remain in full force and effect.

 

 

  

  

  

 

IN WITNESS WHEREOF, the parties have entered into this Fourth Amendment to Services and Development Agreement as of the date first written above.

 

 

	 	
FUND:

	 	  
	 	
NTS MORTGAGE INCOME FUND, a Delaware

corporation

	 	  	  
	 	  	  
	 	
By:

	/s/ Brian F. Lavin           
	 	  	
Brian F. Lavin

	 	  	
President

	 	  
	 	  
	 	
RESIDENTIAL:

	 	  
	 	
RESIDENTIAL MANAGEMENT COMPANY, a

Kentucky corporation

	 	  	  
	 	  	  
	 	
By:

	/s/ Gregory A. Wells       
	 	  	
Gregory A. Wells

	 	  	
Executive Vice President

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