Document:

Exhibit 10(q)

 

Protective Life Corporation

2801 Highway 280 South

Birmingham, AL 35223

 

November 21, 2011

 

UBS AG, Stamford Branch

677 Washington Boulevard

Stamford, CT 06901

Attention: Structured Fixed Income

 

Amended and Restated Guarantee Agreement

 

Dear Sirs and Madams,

 

This letter agreement amends and restates in its entirety, as of November 21, 2011 (the “Amendment Closing Date”), the letter agreement, dated as of April 23, 2010 (the “Closing Date”), between Protective Life Corporation (the “Company”, “we” or “us”) and UBS AG, Stamford Branch (“UBS” or “you”) regarding the Guarantee Agreement.  In connection with the Reimbursement Agreement, dated as of the Closing Date and as amended as of February 14, 2011 and as amended and restated as of the Amendment Closing Date, between Golden Gate III Vermont Captive Insurance Company (the “Borrower”) and UBS (as the same has been and may be amended, supplemented, modified or replaced from time to time, the “Reimbursement Agreement”), we hereby agree and confirm that:

 

(a)           we irrevocably and unconditionally guarantee to you performance by the Borrower of its payment obligations in respect of all Fees under and in accordance with the Fee Letter; and

 

(b)           whenever the Borrower does not pay any Fee, or portion thereof, when due in accordance with the Fee Letter, we shall, within ten (10) Business Days from first written demand from you to us following such failure by the Borrower to pay when due, pay such Fee or portion thereof as if we were the principal obligor,

 

provided that, in each case above, any amount of a Fee irrevocably and finally paid by the Borrower to you prior to your receipt of any payment made by us under the terms of this letter agreement (the “Guarantee”) shall reduce the obligation of the Company under this Guarantee to pay you such Fee (or portion thereof) by an amount equal to such payment.

 

This Guarantee is a continuing guarantee and will extend to any existing balance of Fees payable by the Borrower under the Reimbursement Agreement, regardless of any intermediate payment or discharge in whole or in part other than pursuant to the proviso in the paragraph above.

 

 

The obligations of the Company under this Guarantee shall terminate and the Company shall cease to have further liability under this Guarantee (save for any amount then due under this Guarantee) upon the final payment of all Fees by the Borrower pursuant to the Reimbursement Agreement.  You hereby agree to execute all releases, instruments of discharge and/or documents as may be reasonably necessary to effect or evidence the release of the Company from all liability under or in connection with this Guarantee following such termination and related request by us.

 

Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Reimbursement Agreement.

 

This Guarantee may be executed in one or more counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument. If any provision of this Guarantee, or the application thereof to any person or circumstance, is held invalid or unenforceable, the remainder of this Guarantee, and the application of such provision to other persons or circumstances, shall not be affected thereby, and to such end, the provisions of this Guarantee are agreed to be severable. Nothing in this Guarantee, express or implied, is intended to confer upon any person not a party to this Guarantee any rights or remedies of any nature whatsoever under or by reason of this Guarantee.

 

This Guarantee shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. This Guarantee may not be amended, supplemented, waived or modified except by an instrument in writing signed on behalf of each of the parties hereto and with the consent of UBS and any amendment made without such consent shall be void ab initio; provided that such consent of UBS is not unreasonably withheld or delayed.

 

This Guarantee constitutes the entire agreement between the parties hereto and supersedes all prior agreements and understandings both written or oral, between the parties with respect to the subject matter hereof. This Guarantee may not be assigned by either party hereto without the written consent of the other party, and any such assignment without such consent shall be void and of no force and effect.

 

This Guarantee is not intended to be and is not, and nothing herein contained and nothing done by the Company pursuant to this Guarantee shall be deemed to constitute, a guarantee by the Company of, any obligation of the Borrower other than its obligation to pay Fees pursuant to the Reimbursement Agreement.

 

Nothing contained in this Guarantee shall be construed as requiring us to make any loan, advance, capital contribution or other investment at the time otherwise required to be made under this Guarantee that is not then be permitted to be made because of any law or governmental rule or regulation applicable to us.

 

This Guarantee shall be construed in accordance with and governed by the law of the State of New York.

 

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Please sign below to indicate your agreement and acceptance of the foregoing.

 

 

	
 
    	
 
    	
Very   truly yours,
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
PROTECTIVE   LIFE CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
/s/   Richard J. Bielen
    
	
 
    	
 
    	
Name:   Richard J. Bielen
    
	
 
    	
 
    	
Title:   Vice Chairman and Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Accepted,   Agreed and Consented to:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
UBS AG, STAMFORD BRANCH
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/   Irja R. Otsa
    	
 
    	
 
    
	
Name: Irja R. Otsa
    	
 
    	
 
    
	
Title: Associate Director Banking   Products Services, US
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/   Mary E. Evans
    	
 
    	
 
    
	
Name:   Mary E. Evans
    	
 
    	
 
    
	
Title:   Associate Director Banking Products Services, US
    	
 
    	
 
    

 

Signature page to the Amended and Restated PLC Guarantee AgreementQuickLinks
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  Exhibit 10.30    
    

 
    JOE'S JEANS, INC.
  AMENDED AND RESTATED
  2004 STOCK INCENTIVE PLAN
  RESTRICTED STOCK UNIT AGREEMENT    
    

        This Restricted Stock Unit Agreement (the "Agreement") is made between Joe's
Jeans, Inc., a Delaware corporation (the "Company"),
and                        (the "Employee"). The
Company considers that its interests will be served by granting Employee restricted common stock units ("Restricted Stock Units") under the Joe's
Jeans, Inc. Amended and Restated 2004 Stock Incentive Plan (the "Plan") as an inducement for his or her continued and effective performance of
services to the Company. 

 IT IS AGREED:  

        § 1    Grant.    On                            , 201  (the
"Grant Date"), the Company hereby grants to Employee an award of Restricted Stock Units (the "Award")
pursuant to the terms of this Agreement and the Plan. 

        § 2    Units Awarded.    

        (a)   The
Company hereby awards to Employee, in the aggregate,                        Restricted Stock Units. This Award represents
Employee's right to receive a certain number of
shares of Common Stock upon vesting of the Restricted Stock Units pursuant to § 3 below. The Restricted Stock Units do not constitute Common Stock and Employee shall have no voting
or dividend rights relating thereto unless and until such Restricted Stock Units become vested in accordance with § 3 below and are settled in accordance with § 4
below. 

        (b)   The
Company shall establish and maintain a Restricted Stock Unit bookkeeping account for Employee, and such account shall be credited for the number of Restricted Stock
Units granted to Employee. 

        (c)   No
Restricted Stock Units granted to Employee shall be subject to anticipation, alienation, sale, assignment, transfer, pledge, encumbrance, or charge, and any attempt
to anticipate, alienate, sell, assign, pledge, encumber, or charge the same shall be void. No Restricted Stock Units shall in any manner be liable or subject to any of Employee's debts, contracts,
liabilities or torts unless and until such benefit is actually paid and received by Employee. 

        § 3    Vesting and Forfeitures.    Employee will vest in 12.50% of the Restricted Stock Units
covered by this Award on the six (6) month anniversary of the Grant Date and an additional 12.50% on each six (6) month anniversary thereafter until 100% of the Restricted Stock Units
have vested; provided, that, Employee has not experienced a "separation from service" (within the
meaning of Section 409A of the Code, including Section 1.409A-1(h) of the Final Treasury Regulations promulgated thereunder) (a "Separation from
Service") through each of such vesting dates. Upon the occurrence of a Change in Control, the Restricted Stock Units shall become 100% vested on such event. The Restricted
Stock Units which have not vested in accordance with the vesting schedule in this § 3 (the "Unvested Units") shall become vested upon
the earliest to occur of Employee's death, Disability, or Separation from Service by the Company without Just Cause (as defined below). Upon a Separation from Service for any other reason (including,
without limitation, termination by the Company for Just Cause or by Employee for any reason) prior to the date that Employee becomes 100% vested in the Award, the Unvested Units shall be forfeited
immediately and Employee shall have no right with respect to the Unvested Units. For purposes of this Agreement and notwithstanding any other provision of the Plan to the contrary, "Just Cause" means
(a) Employee's conviction for, or a plea of guilty or nolo contendere to, a felony or any other crime which involves fraud, dishonesty or moral turpitude, or (b) a material breach by
Employee of any written Company employment policies or rules, including the Company's code of ethics. 

 

        § 4    Payment.    As soon as practicable after each vesting date, but in no event later than
March 15 of the year following the year in which such vesting date occurs (including any vesting date related to a Separation from Service or Change in Control), payment for the Restricted
Stock Units that have vested shall be made in an equal number of shares of Common Stock (less any shares of Common Stock used to satisfy the Company's withholding obligations). Any fractional shares
shall be settled in cash, subject to the Committee's sole discretion. The Company shall cause a stock certificate to be delivered to Employee with respect to such shares of Common Stock (less any
shares of Common Stock used to satisfy the Company's withholding obligations) free of all restrictions hereunder, except for applicable securities laws restrictions. 

        § 5    Compliance with Laws and Regulations.    The issuance, transfer, vesting, and ownership of
Common Stock shall be subject to compliance by the Company and Employee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange
on which the Company's Common Stock may be listed at the time of such issuance or transfer. Employee agrees to cooperate with the Company to ensure compliance with such laws and requirements. Prior to
issuance or transfer of Common Stock, the Company may require Employee to execute and deliver a letter of investment intent in such form and containing such provisions as requested by the Committee. 

        § 6    Tax Withholding.    The Company shall withhold from the shares of Common Stock payable to
Employee any federal, state, or local taxes of any kind required by law to be withheld, if any, with respect to the Restricted Stock Units for which restrictions shall lapse;  provided, however, that no shares of Common Stock shall be withheld with a value exceeding the minimum
amount of tax required by law to be withheld. Any fraction of a share of Common Stock which would be required to satisfy such an obligation shall be disregarded and the remaining amount due shall be
paid in cash by Employee. The Company shall, to the extent permitted by law, also have the right to deduct from any payment of any kind otherwise due to Employee any federal, state or local taxes of
any kind required by law to be withheld with respect to the Restricted Stock Units. 

        § 7    No Right to Continued Employment.    Nothing in this Agreement shall be deemed by
implication or otherwise to impose any limitation on any right of the Company to terminate Employee's service at any time and for any reason. 

        § 8    Governing Law.    This Agreement shall be governed by and construed in accordance with the
laws of the State of Delaware without giving effect to its conflict of law principles. If any provision of this Agreement is determined by a court of law to be illegal or unenforceable, then such
provision
will be enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable. 

        § 9    Binding Effect; Modification.    This Agreement is binding upon the Company and Employee and
their respective heirs, executors, administrators, legal representatives, successors and assigns. The Agreement may not be modified except in writing signed by both parties. 

        § 10    Headings and Sections.    The headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Any references to sections (§) in this Agreement shall be to sections (§) of this
Agreement unless otherwise expressly stated as part of such reference. 

        § 11    Resolution of Disputes.    Any dispute regarding the interpretation of this Agreement shall
be submitted by Employee or the Company to the Committee for review. The resolution of such a dispute by the Committee shall be final and binding on the Company and Employee. 

        § 12    Plan and Award Agreement.    This Award is subject to all of the terms and conditions in
this Agreement and in the Plan. The terms and provisions of the Plan are incorporated herein by reference. In the event of a conflict or inconsistency between the terms and provisions of the Plan and
this 

2

 

Agreement,
the Plan shall govern and control. All of the capitalized terms not otherwise defined in this Agreement will have the same meaning in this Agreement as in the Plan. Employee hereby
acknowledges receiving a copy of the Plan. This Agreement and the Plan constitute the entire agreement of the parties and supersede all prior undertakings and agreements with respect to the subject
matter hereof. 

        § 13    Representations and Warranties of Employee.    Employee represents and warrants to the
Company that: 

        (a)   Agrees with Terms of the Plan and this Agreement.    Employee has received a copy of the Plan and has read and
understands the terms of the Plan and this Agreement, and agrees to be bound by their terms and conditions. Employee acknowledges that there may be adverse tax consequences upon the vesting
of Restricted Stock Units or thereafter if the Award is paid and Employee later disposes of the Stock, and that Employee should consult a tax adviser prior to such time. 

        (b)   Cooperation.    Employee agrees to sign such additional documentation as may reasonably be required from time
to time by the Company. 

        § 14    Code Section 409A.    This Agreement is intended to comply with, or be exempt from,
the provisions of Section 409A of the Code and this Agreement shall be construed and interpreted in accordance with such intent. The Company reserves the right to amend this Agreement to the
extent it reasonably determines is necessary in order to avoid any adverse tax consequences under Section 409A of the Code. Notwithstanding anything to the contrary, none of the Company, its
officers, directors, employees, agents or represenatives guarantees that this Agreement complies with, or is exempt from, the provisions of Section 409A of the Code and none of the foregoing
shall have any liability for the failure of this Agreement to comply with, or be exempt from, the provisions of Section 409A of the Code. 

        § 15    No Secured Rights.    Employee's right to payments under this Agreement shall not
constitute nor be treated as property or as a trust fund of any kind. Employee's rights are limited exclusively to the right to receive shares of Common Stock as provided in the Agreement. Employee
shall not have any rights as an owner of the Company with respect to any Restricted Stock Units granted to Employee. All benefits payable to Employee shall be payable solely from the general assets of
the Company and no separate or special funds shall be established and no segregation of assets shall be made to assure the payment of benefits to Employee. Employee's rights shall be limited to those
rights which are specifically enumerated in the Agreement, and such rights shall be for all purposes, unsecured contractual creditors' rights against the Company only, being on a parity with the
rights of all other unsecured general creditors of the Company. 

        § 16    Miscellaneous.    This Agreement is not intended to constitute a retirement plan subject to
the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). 

[Signature
Page Follows] 

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        IN WITNESS WHEREOF, this Agreement has been duly executed and delivered effective as of the Grant Date. 

 

							
	 	 	JOE'S JEANS, INC.
	

 	
 	
 By:	
 	
  

 
	 	 	 	 	Name:	 	 
	 	 	 	 	Title:	 	 
	

 	
 	
EMPLOYEE
	

 	
 	
  

  [INSERT NAME]

 

 4

QuickLinks

Exhibit 10.30

JOE'S JEANS, INC. AMENDED AND RESTATED 2004 STOCK INCENTIVE PLAN RESTRICTED STOCK UNIT AGREEMENT

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