Document:

EX-10.1

 Exhibit 10.1 

NEWMARKET CORPORATION 

Performance Stock Award Agreement 

THIS AGREEMENT dated as of the 12th day of December, 2016, between NEWMARKET
CORPORATION, a Virginia corporation (the “Corporation”), and
                                        
 (“Participant”), is made pursuant and subject to the provisions of the NewMarket Corporation 2014 Incentive Compensation and Stock Plan (the “Plan”). All terms used herein that are defined in the Plan have the same
meaning given them in the Plan. 
 1.    Award of Stock. Pursuant to the Plan, the Corporation, on
January 2, 2017 (the “Award Date”), grants to Participant an award of
                             shares of restricted Common Stock (the “Performance
Stock”). This award of Performance Stock is subject to the terms and conditions of the Plan and subject further to the terms and conditions set forth herein. 

2.    Restrictions. Except as provided in this Agreement, the Performance Stock is nontransferable
and is subject to a substantial risk of forfeiture. 
 3.    Vesting; Performance Criteria. 

(a)    Except as provided in Section 4, on the date the Committee certifies in writing that the applicable
performance criteria set forth below (“Performance Criteria”) have been achieved (the “Performance Vesting Date”), Participant’s interest in all or a percentage of the Performance Stock then outstanding shall be transferable
and nonforfeitable (“Vested”). 
 (b)    The Performance Criteria shall be achieved if the Corporation’s
Earnings Per Share (as defined below) for the fiscal year of the Corporation ending December 31, 2019, is at least equal to the applicable Performance Target set forth in the table below. 

 

			
	Performance Target	  	 Vested
Percentage of Outstanding
 Performance Stock

	[100% of target EPS] (“Target EPS”)	  	100%
	Between Target EPS and 80% of Target EPS	  	That percentage resulting from a straight line interpolation between Target EPS achievement and 80% of Target EPS achievement (e.g., 90% of Target EPS
achievement results in 75% vesting)
	[80% of target EPS] (“80% of Target EPS”)	  	50%
	Less than [80% of target EPS]	  	0%

 (i) For the avoidance of doubt, no more than 100% of the Performance Stock can become
Vested pursuant to this Agreement. 

 (ii) “Earnings Per Share,” for the fiscal year of the
Corporation ending December 31, 2019, shall equal (x) net income less earnings allocated to participating securities for such fiscal year, excluding
one-time/non-recurring items, divided by (y) the weighted average number of shares of Common Stock outstanding for such fiscal year. 

(iii) The “Service Period” shall be the period from January 1, 2017 through December 31, 2019. 

4.    Vesting; Death or Disability. In the event that Participant dies or becomes totally and
permanently disabled (within the meaning of Code section 22(c)(3)) (such event, a “Disability”) prior to the Performance Stock becoming Vested or forfeited pursuant to the other provisions of this Agreement: 

(i) the Performance Stock that becomes Vested on Participant’s death or Disability shall equal the number of shares
of Performance Stock awarded hereunder, times the ratio of: (x) the number of days elapsed during the Service Period prior to Participant’s death or Disability, over (y) the total number of days in the Service Period; and 

(ii) the portion of the Performance Stock that does not become Vested pursuant to clause (i) shall be
forfeited. 
 5.    Forfeiture. 

(a)    Upon the termination of Participant’s employment with the Corporation or a Related Entity prior to the
Performance Vesting Date, other than upon Participant’s death, Disability, or Retirement (as defined herein), all shares of Performance Stock shall be forfeited. 

(b)    Upon Participant’s death or Disability, Section 4 shall apply. 

(c)    Upon Participant’s Retirement, a percentage of the Performance Stock shall be forfeited equal to: (x) the
number of days remaining in the Service Period, over (y) the total number of days in the Service Period; except that if Retirement occurs before October 31, 2017, all shares of Performance Stock shall be forfeited. For purposes of this
Agreement, “Retirement” shall mean the Participant terminates employment under circumstances entitling the Participant to participate in the Corporation’s employee benefit programs for retirees. 

6.    Shareholder Rights. Participant will have all the rights of a shareholder of the Corporation with
respect to the Performance Stock, including the right to receive dividends on and to vote the Performance Stock; provided, however, that until such Performance Stock is Vested (i) Participant may not sell, transfer, pledge, exchange,
hypothecate or otherwise dispose of the Performance Stock, (ii) if the Performance Stock is evidenced by a certificate, the Corporation shall retain custody of such certificate as provided in Section 7, and (iii) Participant will
deliver a stock power in accordance with Section 8. 
 7.    Certificates.At the option of the
Corporation, the Performance Stock shall be evidenced by an entry on the registry books of the Corporation or by a certificate issued by the 

  
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Corporation. Participant may not receive or take possession of any shares of Performance Stock through book-entry accounts held by, or in the name of, Participant so long as the Performance Stock
is not Vested. If the Performance Stock is evidenced by a certificate, custody of such certificate evidencing the Performance Stock shall be retained by the Corporation so long as the Performance Stock is not Vested. Any book entries and
certificates evidencing the Performance Stock shall carry or be endorsed with a legend restricting the transferability of shares set forth in this Agreement. The Corporation shall release the restrictions on the book entry evidencing the Performance
Stock or deliver to Participant the stock certificates evidencing the Common Stock as soon as practicable after the Performance Stock becomes Vested. 

8.    Stock Power. Participant shall deliver to the Corporation a stock power, endorsed in blank,
with respect to the Performance Stock. The Corporation shall use the stock power to cancel any shares of Performance Stock that do not become Vested. The Corporation shall return the stock power to Participant with respect to any shares of
Performance Stock that become Vested. 
 9.    Fractional Shares. Fractional shares of Common Stock shall
not be issuable hereunder, and when any provision hereof or the Plan may result in a fractional share, such fraction shall be disregarded. 

10.    Taxes. The Corporation shall retain and withhold from the award of Performance Stock, the amount of
taxes required by any government to be withheld to satisfy minimum statutory tax withholding obligations with respect to such award. The Corporation shall retain and withhold a number of shares of the Vested Performance Stock having a Fair Market
Value as of the date the shares become Vested that is not less than the amount of such tax withholding obligation, and the Corporation shall cancel in whole or in part any such shares so withheld, in order to satisfy the Corporation’s
withholding obligations. 
 11.    Clawback. The Performance Stock is subject to such deductions,
repayment and clawback as may be required by any applicable law, government regulation or stock exchange listing standard, and is subject to the Corporation’s Policy for the Recovery of Incentive Compensation or similar clawback policy of the
Corporation in effect from time to time. 
 12.    No Right to Continued Employment. This Agreement does
not confer upon Participant any right with respect to continued employment by the Corporation, nor shall it interfere in any way with the right of the Corporation to terminate Participant’s employment at any time. 

13.    Governing Law. This Agreement shall be governed by the laws of the Commonwealth of Virginia. 

14.    Conflicts. In the event of any conflict between the provisions of the Plan and the provisions of this
Agreement, the provisions of the Plan shall govern. 
 15.    Participant Bound by Plan. Participant
hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof. 

16.    Treatment Under Pension Plan. Participant hereby acknowledges that “Pay,” as such term is
defined in the NewMarket Corporation and Affiliates Salaried Employees’ Pension Plan, does not include the Performance Stock, cash or stock dividends payable thereon, or any other amount of cash or stock received by the Participant with respect
to the Performance Stock. 

  
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 17.    Binding Effect. Subject to the limitations stated above
and in the Plan, this Agreement shall be binding upon and inure to the benefit of the legatees, distributees, and personal representatives of the Participant and the successors of the Corporation. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the Corporation has caused this Agreement to be signed on its behalf, and the
Participant has affixed his signature hereto. 
  

			
	NEWMARKET CORPORATION
		
	By	 	  

	
	         M. Rudolph West

	(Printed Name)
	
	PARTICIPANT
		
	By	 	  

	
	  

	(Printed Name)
	
	  

	Date

  
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EXHIBIT 10.1

NOTE
TERMINATION AND CONVERSION AGREEMENT

This
Note Termination and Conversion Agreement (the “Agreement”) is made and entered
into as of November 15, 2016 by and among Symbid Corp., a Nevada
corporation with a place of business at Marconistraat 16, 3029 AK
Rotterdam, The Netherlands (“SBID”), Symbid Coöperatie
U.A., a variable interest Netherlands entity with a place of
business at Marconistraat 16, 3029 AK Rotterdam, The Netherlands
(“SC”) and
XX, with a place of
business at XX, The
Netherlands (the “Noteholder”).

WHEREAS, SBID issued a $XX June 1, 2016 promissory note
to the Noteholder, a copy of which is annexed hereto as Schedule A
(the “Note”)
and

WHEREAS, the parties have agreed to
terminate the Note and not require the payment of principal and
interest thereon effective as of November 15, 2016;
and

WHEREAS, SC is the licensee for all of
SBID’S private and public placement (crowdfunding) business
in The Netherlands; and

WHEREAS, SC is a variable interest
entity which SBID effectively controls through corporate governance
rather than ownership; and

WHEREAS, SBID receives currently
revenues from SC through Intellectual Property (“IP”) license fees, where
it is envisioned SC will be granted a designated IP license
directly from its owner Stichting Symbid IP Foundation to conduct
its business in the Netherlands whereby it will be agreed SC will
reimburse the further development of the IP for which SBID will
receive in return a non-exclusive license on usage of the further
by SC developed IP; and

WHEREAS, SBID intends to liquidate the
participations in both Equidam Holding B.V. and Kredietpaspoort
Coöperatie UA under condition the required approvals through,
not limited to but including, a shareholder vote will be obtained;
and

WHEREAS, in consideration of the
termination of the Note, SBID and SC have agreed to grant to
Noteholder, or any by Noteholder assigned party, an equity interest
in SC consisting of XX units (XX% of the future profit rights
and XX% of the
voting rights of SC) (the “SC
Participation Right”) further specified in a
Membership Agreement with SC (“Membership
Agreement”):

NOW, THEREFORE, in consideration of the
premises, and of the promises, covenants and conditions contained
herein, the parties intending to be legally bound, hereby agree as
follows:

1. Note
Termination.

The
Parties agree that in consideration of the grant of the
Participation Right, the Note is hereby terminated and cancelled
effective the date hereof without any obligation on the part of
SBID or other persons to pay principal or interest
thereon.

{00177968.1
/ 3006.002}

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2. Grant
of SC Participation Right.

SC
hereby grants the SC Participation Right to the Noteholder, or any
by Noteholder assigned party, as the result of and in consideration
of the Note cancellation, effective the date hereof.

3. Representations,
Warranties and Covenants of Noteholder.

Noteholder
represents, warrants, and covenants to the Company
that:

3.1           Investment
Purpose.  Noteholder is acquiring the SC
Participation Right for its own account for investment only and not
with a view towards, or for resale in connection with, the public
sale or distribution thereof, except pursuant to sales registered
or exempted under the Securities Act.

3.2           Accredited
Investor / Non-U.S. Person Status.  Noteholder is
an “Accredited
Investor” as that term is defined in Rule 501(a)(3) of
Regulation D of the Securities Act and/or a Non-U.S. Person for
purposes of Regulation S of the Securities Act.

3.3           Authorization,
Enforcement.  This Agreement has been duly and
validly authorized, executed and delivered on behalf of Noteholder
and is a valid and binding agreement of Noteholder enforceable in
accordance with its terms.

3.4           Brokers.  There
are no brokerage commissions, finder’s fees or similar fees
or commissions payable by Noteholder in connection with the
transactions contemplated hereby based on any agreement,
arrangement or understanding with Noteholder or any action taken by
Noteholder.

4.            

Representations,
Warranties, and Covenants of SBID and SC.

SBID
and SC hereby make the representations set forth below and covenant
and agree as follows to Noteholder (in addition to those set forth
elsewhere herein):

4.1           Organization
and Qualification.  SBID and SC have been duly
organized, validly exist and are in good standing under the laws of
their respective jurisdictions of formation. SBID and SC have full
corporate power and authority to enter into this Agreement and this
Agreement has been duly and validly authorized, executed and
delivered by SBID and SC and is a valid and binding obligation of
SBID and SC, enforceable against SBID and SC in accordance with its
terms, except as such enforcement may be limited by the bankruptcy
laws and laws effecting creditors’ rights,
generally.

4.2           Authorization,
Enforcement, Compliance with Other
Instruments.  (i) SBID and SC have the requisite
corporate power and authority to enter into and perform their
obligations under this Agreement, (ii) the execution and delivery
of all transaction documents by SBID and SC and the consummation by
SBID and SC of the transactions contemplated hereby, including,
without limitation, the issuance of the SC Participation Right, has
been duly authorized by their respective managements and no further
consent or authorization is required by them, their respective
managements or their stockholders, (iii) the transaction documents
have been duly executed and delivered by them, (iv) the transaction
documents constitute their valid and binding obligations
enforceable against them in accordance with their terms, and (v)
the persons signing this Agreement on behalf of SBID and SC have
full corporate or other requisite authority to execute the
transaction documents and to bind them.

4.3           No
Conflicts.  The execution and delivery by SBID and
SC of, and the performance of their obligations under this
Agreement in accordance with the terms of this Agreement will not
contravene any provision of applicable law or the charter documents
of SBID and SC or any agreement or other instrument binding upon
SBID and SC, or any judgment, order or decree of any governmental
body, agency or court having jurisdiction over SBID and SC, and no
consent, approval, authorization or order of, or qualification
with, any governmental body or agency is required for the
performance by SBID and SC of their respective obligations under
this Agreement in accordance with the terms of this
Agreement.

4.4           Brokers.  Neither
SBID nor SC have taken any action which would give rise to any
claim by any person for a brokerage commission, placement agent or
finder’s fees or similar payments by SBID or SC relating to
this Agreement or the transactions contemplated
hereby.

4.5           Cancellation
of all notes. All of the other 2016 Notes from the Private
Placement Offering in which Noteholder participated have been
similarly settled and cancelled or will be similarly settled and
cancelled on or prior to November 15, 2016.

 

5.            

Miscellaneous.

(a) 

Note holder
acknowledges and agrees that the execution of the Note Termination
Agreement precludes Note holder from instituting legal proceedings
in the future against SBID and affiliated persons based upon the
Notes, however this excludes cases as commonly described by
negligence, fraud and misconduct. 

(b) 

Each of the parties
agree to take such actions as are reasonably necessary to carry out
the intentions of the parties under this Agreement.

(c) 

This Agreement may
be executed in one or more counterparts which when taken together
shall constitute one agreement.

(d) 

This Agreement
supersedes and cancels any prior agreements relating to the subject
matter contained herein.

[Signature Page
Follows]

{00177968.1 /
3006.002}                                                                     

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IN WITNESS WHEREOF, the parties hereto
have executed and delivered this Agreement as of the date first
written above.

	

SYMBID
CORP.

_____________________________________By:
Korstiaan Zandvliet

Name:  

Title:  

 

	

SYMBID
COÖPERATIE U.A.

______________________________________By:
Maarten Timmerman

Name:  

Title:  

 

	

 

SYMBID
COÖPERATIE U.A.

_____________________________________By:
Robin Slakhorst

Name:  

Title:  

 

 

 

 

	
 

	

NOTEHOLDER

By:                                                       

Name:  

Title:  

 

	
 

 

 

{00177968.1
/ 3006.002}

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