Document:

Exhibit 10.1

 

UNITED STATIONERS INC.

2004 LONG-TERM INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

(NON-EMPLOYEE DIRECTORS)

 

 

Dear:

 

This Restricted
Stock Unit Award Agreement (this “Agreement”), effective as of September 1,
2007 (the “Award Date”), is by and between                          
(the “Participant”), and United Stationers Inc., a Delaware corporation (the “Company”).  Any term capitalized but not defined in this
Agreement will have the meaning set forth in the Company’s 2004 Long-Term Incentive
Plan (the “Plan”).

 

In the exercise of
its discretion to grant awards under the Plan, the Committee determined that
the Participant should receive an award on the Award Date of either restricted
stock or restricted stock units under the Plan, and provided the Participant
with the opportunity to elect the form of award to be received.  Prior to the Award Date, the Participant
submitted to the Company a Deferral Election Agreement whereby the Participant
elected to receive an award in the form of restricted stock units, and to defer
the settlement of all such units until his separation from service as a
director of the Company.  This Agreement
is intended to effect the resulting award of restricted stock units on the
following terms and conditions:

 

1.                                       Grant.  The Company
hereby grants to the Participant a Restricted Stock Unit Award (the “Award”) of
                     restricted
stock units, each representing the right to receive one share of the Company’s
Stock as provided in Section 5 of this Agreement.  The Award will be subject to the terms and
conditions of the Plan and this Agreement. 
Restricted stock units that are subject to the
terms and conditions of this Agreement are referred to as the “Units.”  The Company will establish a bookkeeping account in
the Participant’s name to reflect the number of Units credited to the
Participant.

 

2.                                       No Rights as a Stockholder. 
The Units granted pursuant to this Award do not entitle the Participant
to any rights of a stockholder of the Company’s Stock.  The Participant’s rights with respect to the
Units shall remain forfeitable at all times until satisfaction of the vesting
conditions set forth in Section 3 of this Agreement.

 

3.                                       Vesting; Effect of Date of Termination. 
So long as the Participant’s Date of Termination has not yet occurred,
the Participant’s Units will vest in accordance with the following schedule:

 

 

	
  Scheduled Vesting Date

  	
   

  	
  Percentage of Total
  Units To Vest (cumulative)

  
	
  September 1, 2008

  	
   

  	
  33 1/3%

  
	
  September 1, 2009

  	
   

  	
  33 1/3%

  
	
  September 1, 2010

  	
   

  	
  33 1/3%

  

 

If the Participant’s Date
of Termination occurs for any reason before any Scheduled Vesting Date, the
Participant’s Units that are not yet vested immediately prior to such Date of
Termination will be forfeited on and after the Participant’s Date of
Termination, subject to the following:

 

(a)                                  If the Participant’s Date of Termination
occurs before a Scheduled Vesting Date by reason of the Participant’s death or
Permanent and Total Disability (as defined below), a Pro Rata Portion of the
then unvested Units will become vested as of the Participant’s Date of
Termination.  As used herein, the “Pro
Rata Portion” of the Units shall be determined by multiplying the number of
unvested Units immediately prior to the Participant’s Date of Termination by a
fraction, the numerator of which shall be the number of whole months elapsed
between the most recent Scheduled Vesting Date prior to the Date of Termination
(or the Award Date, if no Scheduled Vesting Date has yet occurred) and the Date
of Termination, and the denominator of which shall be the number of whole
months between the most recent Scheduled Vesting Date prior to the Date of
Termination (or the Award Date, if no Scheduled Vesting Date has yet occurred)
and the final Scheduled Vesting Date.

 

(b)                                 If a Change of Control occurs after the
Award Date and prior to the Participant’s Date of Termination, then all of the
Units that were not yet vested immediately prior to the Change of Control will
then become fully vested as of the date of such Change of Control.

 

(c)                                  For purposes of this Agreement, the term “Permanent
and Total Disability” means the Participant’s inability, due to illness,
accident, injury, physical or mental incapacity or other disability,
effectively to carry out his duties and obligations as a director of the
Company or to participate effectively and actively as a director of the Company
for 90 consecutive days or shorter periods aggregating at least 180 days
(whether or not consecutive) during any twelve-month period.

 

(d)                                 For purposes of
this Agreement, a Date of Termination shall be deemed to have occurred only if
on such date the Participant has experienced a “separation from service” as
defined in the regulations promulgated under Section 409A of the Code.

 

Except as otherwise specifically provided, the Company
will not have any further obligations to the Participant under this Agreement
if the Participant’s Units are forfeited as provided herein.

 

4.                                         Dividend Equivalents.  If the Company pays cash
dividends on its Stock on or after the date of this Agreement, then the Company
shall credit to the Participant’s account, as of 

 

2

 

any dividend payment date, a
number of additional Units.  The number
of additional Units so credited will be equal to the total number of Units
previously credited to your account under this Award (including any Units
previously credited pursuant to this Section 4) multiplied by the per
share dollar amount of the cash dividend paid on that date, divided by the Fair
Market Value of a share of Company Stock on that date.  Any additional Units so credited shall be
subject to the same terms and conditions as the Units to which such additional
Units relate, and will be forfeited if the Units with respect to which such
additional Units were credited are forfeited.

 

5.                                         Settlement of Units. 
As soon as administratively practicable after the Participant’s Date of
Termination, but in no event more than 75
days after such Date of Termination, the Company shall cause to be delivered to
the Participant, or to the Participant’s beneficiary or legal representative in
the event of Participant’s death, one share of Stock in payment, settlement and
full satisfaction of each vested Unit. 
Such shares shall be delivered (i) by delivering a stock
certificate evidencing such shares, (ii) by an appropriate entry on the
books of the Company or a duly authorized transfer agent of the Company, or (iii) if
Participant requests, by electronically transferring such shares to a brokerage
account designated by the Participant. 
If the number of vested Units at the time of settlement includes a
fractional Unit, the Company will issue a number of shares equal to the number
of whole Units and settle any fractional Unit in cash.

 

6.                                         Compliance with Laws. 
Despite the provisions of Section 5 hereof, the Company is not
required to issue or deliver any shares of Stock if at any time the Company
determines that the listing, registration or qualification of such shares upon
any securities exchange or under any law, the consent or approval of any
governmental body or the taking of any other action is necessary or desirable
as a condition of, or in connection with, the issuance or delivery of the
shares hereunder in compliance with all applicable laws and regulations, unless
such listing, registration, qualification, consent, approval or other action
has been effected or obtained, free of any conditions not acceptable to the
Company.

 

7.                                         No Right to Continued Service. 
Nothing herein confers upon the Participant any right to continue in the
service of the Company or any Subsidiary.

 

8.                                         Nontransferability. 
Except as otherwise provided by the Committee or as provided in Section 5,
and except with respect to shares of Stock issued in settlement of vested
Units, the Participant’s interests and rights in and under this Agreement may
not be assigned, transferred, exchanged, pledged or otherwise encumbered other
than as designated by the Participant by will or by the laws of descent and
distribution.  Issuance of shares of
Stock in settlement of Units will be made only to the Participant; or, if the
Committee has been provided with evidence acceptable to it that the Participant
is legally incompetent, the Participant’s personal representative; or, if the
Participant is deceased, to the designated beneficiary or other appropriate
recipient in accordance with Section 5 hereof.  The Committee may require personal receipts
or endorsements of a Participant’s personal representative, designated
beneficiary or alternate recipient provided for herein.  Any effort to otherwise assign or transfer
any Units or any rights or interests therein or thereto under this Agreement
will be wholly ineffective, and will be grounds for termination by 

 

3

 

the Committee of
all rights and interests of the Participant and his or her beneficiary in and
under this Agreement.

 

9.                                         Administration and Interpretation. 
The Committee has the authority to control and manage the operation and
administration of the Plan.  Any
interpretations of the Plan by the Committee and any decisions made by it under
the Plan are final and binding on the Participant and all other persons.

 

10.                                   Governing Law. 
This Agreement and the rights and obligations hereunder shall be governed
by and construed in accordance with the laws of the state of Delaware, without
regard to principles of conflicts of law of Delaware or any other jurisdiction.

 

11.                                   Sole Agreement. 
Notwithstanding anything in this Agreement to the contrary, the terms of
this Agreement shall be subject to all of the terms and conditions of the Plan
(as the same may be amended in accordance with its terms), a copy of which may
be obtained by the Participant from the office of the Secretary of the Company.  In addition, this Agreement and the
Participant’s rights hereunder shall be subject to all interpretations,  determinations, guidelines, rules and
regulations adopted or made by the Committee from time to time pursuant to the
Plan.  This Agreement is the entire
agreement between the parties to it with respect to the subject matter hereof,
and supersedes any and all prior oral and written discussions, commitments,
undertakings, representations or agreements (including, without limitation, any
terms of any employment offers, discussions or agreements between the parties).

 

12.                                   Binding Effect. 
This Agreement will be binding upon and will inure to the benefit of the
Company and the Participant and, as and to the extent provided herein and under
the Plan, their respective heirs, executors, administrators, legal
representatives, successors and assigns.

 

13.                                   Amendment and Waiver. 
This Agreement may be amended in accordance with the provisions of the
Plan, and may otherwise be amended by written agreement between the Company and
the Participant without the consent of any other person.  No course of conduct or failure or delay in
enforcing the provisions of this Agreement will affect the validity, binding
effect or enforceability of this Agreement.

 

4

 

IN WITNESS WHEREOF,
the Company has duly executed this Agreement as of the Award Date.

 

 

 

Very truly yours,

 

UNITED STATIONERS INC.

 

 

By:

 

 

 

[Name]

[Title]

 

 

5Exhibit 10.2

 

FIRST AMENDMENT AND WAIVER 

TO AMENDED AND RESTATED LOAN AGREEMENT

 

This First Amendment and
Waiver to Amended and Restated Loan Agreement is entered into as of March 14,
2008 (the “Amendment”) by and between COMERICA BANK (“Bank”) and CLARIENT, INC.
(“Borrower”).

 

RECITALS

 

Borrower and Bank are
parties to that certain Amended and Restated Loan Agreement dated as of February 28,
2008 (the “Agreement”).  Borrower
proposes  to incur additional
indebtedness (the “Additional Debt”) pursuant to an Amended and Restated Senior
Subordinated Revolving Credit Agreement dated as of March 14, 2008 between
Safeguard Delaware, Inc. (“Safeguard Delaware”) and Borrower (the “Safeguard
Senior Credit Agreement”).  Borrower has
requested that Bank consent to the incurrence and repayment of the Additional
Debt, and Bank has agreed to do so in accordance with this Consent.  Additionally, the parties desire to amend the
Agreement in accordance with the terms of this Amendment.

 

NOW, THEREFORE, the
parties agree as follows:

 

1.             Effective
upon Bank’s receipt of an Affirmation and Amendment of Subordination Agreement
from Safeguard Delaware in substantially the form attached (the “Subordination
Agreement Amendment”) and compliance by Borrower with the terms of this Amendment,
Bank consents to Borrower’s entering into the Safeguard Senior Credit Agreement
and the incurrence of indebtedness pursuant thereto and waives any default or
event of default under the Agreement resulting from Borrower’s entry into the
Safeguard Senior Credit Agreement.  Bank
consents to the repayment of the Additional Debt to the extent permitted under
the Subordination Agreement Amendment.

 

2.             Bank
hereby waives Borrower’s failure to comply with Section 6.8 (Net Worth
covenant) of the Agreement as amended herein for the period ended December 31,
2007.  Bank does not waive Borrower’s
obligations under such Sections for any period after December 31, 2007,
and Bank does not waive any other failure by Borrower to perform its
Obligations under the Loan Documents. 
This waiver is not a continuing waiver with respect to any failure to
perform any Obligation after December 31, 2007.

 

3.             Borrower
and Bank agree to revise the financial covenants under the Agreement no later
than March 21, 2008.

 

4.             Section 6.8
of the Agreement is hereby amended in its entirety to read as follows:

 

6.8          Net Worth.  Borrower shall not, at any time during the
periods set forth below, allow its Net Worth to fall below the given amount:

 

	
  Period

  	
   

  	
  Minimum Net Worth

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  10/1/07-12/31/07

  	
   

  	
  $

  	
  (2,800,000

  	
  )

  
	
  1/1/08 - 3/31/08

  	
   

  	
  $

  	
  (5,300,000

  	
  )

  
	
  4/1/08 – 6/30/08

  	
   

  	
  $

  	
  (6,740,000

  	
  )

  
	
  7/1/08 – 9/30/08

  	
   

  	
  $

  	
  (7,500,000

  	
  )

  

 

5.             Unless
otherwise defined, all initially capitalized terms in this Amendment shall have
the respective meanings set forth in the Agreement.  The Agreement, as amended hereby, shall be
and remain in full force and effect in accordance with its terms and hereby is
ratified and confirmed in all respects. 
Except as expressly set forth herein, the execution, delivery, and
performance of this Amendment shall not operate as a waiver of, or as an
amendment of, any right, power, or remedy of Bank under the Agreement, as in
effect prior to the date hereof. 
Borrower ratifies and reaffirms the continuing effectiveness of all
promissory notes, guaranties, security agreements, mortgages, deeds of trust,
environmental agreements, and all other instruments, documents and agreements
entered into in connection with the Agreement.

 

1

 

6.             This
Amendment may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one instrument
(and delivered via facsimile or electronic transmission).

 

7.             As
a condition to the effectiveness of this Amendment, Bank shall have received,
in form and substance satisfactory to Bank, the following:

 

(a)           this Amendment, duly executed by
Borrower;

 

(b)           an amendment fee of $5,000, plus an
amount equal to all Bank Expenses incurred through the date of this Amendment;

 

(c)           an Affirmation and Amendment of
Subordination Agreement, duly executed by Safeguard Delaware, Inc.;

 

(d)           such other documents, and completion
of such other matters, as Bank may reasonably deem necessary or appropriate.

 

8.             Notwithstanding
anything herein to the contrary, the consents and waivers set forth in this
Amendment shall be rescinded and null and void ab initio unless
within three (3) Business Days of the date hereof (a) Bank has
received a waiver and/or amendment in form and substance satisfactory to Bank
with respect to Borrower’s defaults under that certain Loan and Security
Agreement among Borrower, Clarient Diagnostic Services, Inc., CLRT
Acquisition, LLC, and General Electric Capital Corporation (as amended, the “GE
Loan Agreement”) or (b) the monies owing under the GE Loan Agreement have
been paid in full and the Revolving Loan Commitment (as defined therein) has
been terminated.

 

IN WITNESS WHEREOF, the
undersigned have executed this Amendment as of the first date above written.

 

	
   

  	
  CLARIENT, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  COMERICA BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
				

 

2

 

Attachment

 

Affirmation and Amendment of
Subordination Agreement

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