Document:

EX-10.1

 Exhibit 10.1 
  

 
 KEYBANK NATIONAL ASSOCIATION 

CONFIRMATION 
  

			
	Date:	  	18-May-2016
		
	To:	  	NexPoint Residential Trust Operating Partnership, L.P. (“Counterparty”)
		
	Attn:	  	Kris Barber, Matt McGraner
		
	Email/Facsimile	  	
	Number:	  	kbarber@chathamfinancial.com, MMcGraner@HighlandCapital.com
		
	From:	  	KeyBank National Association (“KeyBank”)
		
	Re:	  	Interest Rate Swap Transaction (“Transaction”)
		  	(Deal # 318074 / Tran # 318076)
		
	USI:	  	1030451927318074RA425016110300000000000000

 Ladies and Gentlemen: 
 The
purpose of this letter agreement is to set forth the terms and conditions of the Transaction entered into between us on the Trade Date specified below. This letter agreement constitutes a “Confirmation” as referred to in the ISDA
Master Agreement specified below. 
 The definitions and provisions contained in the 2006 ISDA Definitions (the “Definitions”) as published by the
International Swaps and Derivatives Association, Inc. (“ISDA”), and amended from time to time, are incorporated into this Confirmation. In the event of any inconsistency between this Confirmation and the Definitions, this Confirmation
will govern.
 This Confirmation supplements, forms part of and is subject to, the ISDA Master Agreement dated as of May 09, 2016, as amended and
supplemented from time to time (the “Agreement”), between you and us. All provisions contained in the Agreement shall govern this Confirmation except as expressly modified below. 

Each party represents to the other party that:
  

	(a)	Non-Reliance. It is acting for its own account, and it has made its own independent decisions to enter into this Transaction and as to whether this Transaction is appropriate or proper for it based upon its own
judgment and upon advice from such advisers as it has deemed necessary. It is not relying on any communication (written or oral) of the other party as investment advice or as a recommendation to enter into this Transaction, it being understood that
information and explanations related to the terms and conditions of a Transaction will not be considered investment advice or a recommendation to enter into this Transaction. No communication (written or oral) received from the other party will be
deemed to be an assurance or guarantee as to the expected results of this Transaction. 

  
  

 

					
	 DEAL#318074/TRAN#318076
	  	 	Page 1	  

	(b)	Assessment and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and
risks of this Transaction. It is also capable of assuming, and assumes, the risks of this Transaction. 

  

	(c)	Status of Parties. The other party is not acting as a fiduciary for or an adviser to it in respect of this Transaction. 

The terms of the Transaction to which this Confirmation relates are as follows: 

 

			
	1. General Terms:
		
	Notional Amount:	  	$100,000,000.00 USD
		
	Trade Date:	  	13-May-16
		
	Effective Date:	  	01-Jul-16
		
	Termination Date:	  	01-Jun-21
		
	Business Days:	  	New York
	
	Fixed Amounts Details:
		
	Fixed Rate Payer:	  	Counterparty
		
	 Fixed Rate Payer
 Payment Dates:
	  	Monthly, on the 1st, commencing on 01-Aug-16 up to and including the Termination date, subject to adjustment in accordance with Modified Following Business Day Convention
		
	Period End Dates:	  	Monthly on the 1st commencing 01-Aug-16 subject to No Adjustment
		
	Fixed Rate:	  	1.10550%
		
	Fixed Rate Day	  	
	Count Fraction:	  	Act/360
	
	Floating Amount Details:
		
	Floating Rate Payer:	  	KeyBank
		
	 Floating Rate Payer
 Payment Dates:
	  	Monthly, on the 1st, commencing on 01-Aug-16 up to and including the Termination date, subject to adjustment in accordance with Modified Following Business Day Convention
		
	Period End Dates:	  	Monthly on the 1st commencing 01-Aug-16 subject to No Adjustment
		
	Floating Rate for	  	
	Initial Calculation	  	
	Period including	  	
	Spread:	  	To be determined

  
  

 

					
	 DEAL#318074/TRAN#318076
	  	 	Page 2	  

			
	Floating Rate Option:	  	USD-LIBOR-BBA, however, the reference to “two London Banking Days” in the third line of the definition of “USD-LIBOR-BBA” as published in Section 7.1.(w).(xvii) of the Definitions is replaced by “one London
Banking Day”
		
	Designated Maturity:	  	1-Month
		
	Spread:	  	None
		
	Floating Rate Day	  	
	Count Fraction:	  	Act/360
		
	Reset Dates:	  	The first day of each Floating Rate Payer Calculation Period, Subject to No Adjustment
		
	2. Calculation Agent:	  	As per the Agreement, or if not specified therein, KeyBank
		
	3. Account Details	  	
		
	Payment Method:	  	FEDWIRE
		
	Please pay us at:	  	KEYBANK NATIONAL ASSOCIATION
		  	ABA #
		  	A/C #
		  	ATTN: DERIVATIVE OPERATIONS
		
	We will pay you at:	  	NEXBANK SSB DALLAS TX
		  	ABA #
		  	FOR THE ACCOUNT OF NEXPOINT RESIDENTIAL TRUST, INC
		  	A/C #
		
	4. Other Provisions:	  	
		
	5. Other Conditions:	  	
		
	6. Counterparty Portal Access:	  	

 KeyBank will provide access to view the daily mid-market marks of your outstanding Transactions through a secured website, Key
Derivatives On-line (“KDO”). Unless you notify KeyBank in writing that you do not agree to receive the daily mid-market marks via KDO, you agree that KDO is an acceptable and reliable manner of disclosure. 

The following individuals will receive logon information and access to KDO once this Confirmation has been executed by an authorized signer(s) and returned to
KeyBank. Please provide additional names and contact information in writing as required. 
  

			
	 Name
	  	 Email Address

		  	                    
		  	            
		  	        

  
  

 

					
	 DEAL#318074/TRAN#318076
	  	 	Page 3	  

 Please confirm the foregoing correctly sets forth the terms of our agreement by responding within two (2)
Business Days by returning an executed copy of this Confirmation to the attention of Derivative Operations at Derivatives_Documents@KeyBank.com or facsimile at (216) 370-6210. Failure to respond within such period shall not affect the validity
or enforceability of this Transaction, and shall be deemed to be an affirmation of the terms and conditions contained herein, absent manifest error. 
  

			
	Regards,
	
	KeyBank National Association
	
	 /s/ Mary Chudzinski

	Name:	 	Mary Chudzinski
	Title:	 	Authorized Signatory

  

	
	Accepted and Confirmed as of the Trade Date
	
	NexPoint Residential Trust Operating Partnership, L.P.
	
	 /s/ Brian Mitts

	Name: Brian Mitts
	Title: Authorized Signatory

  
  

 

					
	 DEAL#318074/TRAN#318076
	  	 	Page 4EX-10.11.1

 Exhibit 10.11.1 

EXECUTION VERSION 
 AMENDMENT TO
AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 This Amendment to the Amended and Restated Employment Agreement
(“Amendment”) is entered into as of May 17, 2016, by and between Skylar Cunningham (“Employee”), and Audio Visual Services Group, Inc., a Delaware corporation (the “Employer”). 

WHEREAS, Employee and the Company are party to that certain Amended and Restated Employment Agreement, dated as of January 24, 2014 (the
“Employment Agreement”); 
 WHEREAS, the Company and the Employee desire to enter into this Amendment to amend certain
terms of Employee’s employment with the Company; and 
 WHEREAS, capitalized terms that are not defined herein shall have the same
meaning as set forth in the Employment Agreement unless specified to the contrary. 
 NOW, THEREFORE, in consideration of the mutual
covenants and agreements herein contained, the parties agree as follows: 
  

	 	1.	Section 3 of the Employment Agreement is deleted in its entirety and replaced with the following: 

  

	 	“3.	TERM 

 The Employer agrees to continue to employ the Employee, and the
Employee agrees to continue to be employed by the Employer, in each case pursuant to this Agreement, for a period commencing as of May 17, 2016 and ending on the earlier of (i) March 1, 2019 and (ii) the termination of the
Employee’s employment in accordance with Section 6 hereof (such period the “Term”). The Term may be extended by mutual written agreement between the Employer and Employee. Notwithstanding anything to the contrary, Sections 4, 5
and 8 shall survive termination of this Agreement and shall continue to apply following the termination of the Employee’s employment for any reason or no reason (including, without limitation, due to the expiration of the Term, a resignation by
the Employee or a termination by the Employer).” 
  

	 	2.	The first sentence of Section 6(c) shall be deleted in its entirety and replaced with the following: 

“Subject to Employee’s compliance with Section 6(c)(ii) below, if Employee’s employment is terminated without Cause prior
to the expiration of the Term, the Employer shall pay to Employee the Employee’s then current base salary and target annual bonus in equal installments, over the remainder of the Term in accordance with the Company’s standard payroll
practices beginning on the Payment Commencement Date (as defined below) (such amounts, the “Separation Payment”) and such initial payment shall include any amounts that would otherwise be due prior thereto; provided, however,
notwithstanding the foregoing, to the extent that any 

 
portion of the Separation Payment is required to be paid in a lump sum to avoid the imposition of the additional tax under Section 409A, such amounts shall be paid in a lump sum on the
Payment Commencement Date. For purposes of this Section 6(c), the “Payment Commencement Date” shall mean the date, within sixty (60) days of the date of termination of the Employee’s employment, immediately following
the execution of the Release and expiration of the revocation period applicable to the Release (as defined below), without revocation of such Release; provided, however, if such sixty (60) day period spans two (2) taxable years, then the
Separation Payment and any portion thereof, shall commence on or shall be made on the first business day in the second taxable year. In addition, subject to the Employee’s election under COBRA, the Company shall reimburse Employee for the
Employer portion of the COBRA premium, as if the Employee were an active employee, for the same level of coverage in place on the date of termination for lesser of (i) the remainder of the Term or (ii) the period in which the Employee is
eligible for COBRA coverage.” 
  

	 	3.	Exhibit A shall be deleted in its entirety and replaced with the following: 

“Employee’s Title: Chief Operating Officer (COO) until a successor is appointed. Following such appointment, the
Employee’s title shall be “Executive Advisor to the Company/Board”. 
 Employee’s Duties: Commensurate with
Employee’s Title and consistent with past practice until a successor to Employee is appointed. Once a successor is appointed, the Employee shall transition the duties commensurate with the title of COO to the successor and shall perform the
duties specifically defined by the Chief Executive Officer and the Board.” 
  

	 	4.	The following sentence shall be added to the end of the “Target Bonus” section of Exhibit B: 

“At the end of the Term, subject to the Employee’s continued employment until the end of the Term, the Employee shall be entitled
receive any earned but unpaid bonus for the year prior to the year in which the end of the Term occurs, payable at the same time bonus payments are made to other senior executives of the Employer, and the pro-rata portion of the annual bonus for the
year in which the end of the Term occurs, based on the number of calendar days employed during such year, payable at the same time bonus payments are made to other senior executives of the Employer for such year, based on actual performance for such
year.” 
  

	 	5.	The following shall also be added to Exhibit B: 

 “For avoidance of doubt,
Employee’s then current base salary and bonus target percentage amount shall not be reduced as a result of his appointment to Executive Advisor. Employee’s base salary shall be subject to annual merit increases, if any, approved by the
Compensation Committee of the Board of Directors of the Company, in their sole discretion. 

  
 2 

	 	6.	References. All references in the Employment Agreement to “this Agreement” and any other references of similar import shall hereinafter refer to the Employment Agreement as amended by this Amendment.

  

	 	7.	Remaining Provisions. Except as expressly modified by this Amendment, the Employment Agreement shall remain in full force and effect. This Amendment embodies the entire agreement and understanding of the parties
hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements and understandings, oral or written, relative thereto. 

  

	 	8.	Governing Law. This Amendment shall be construed and interpreted in accordance with the laws of the State of Illinois. 

  

	 	9.	Amendment Effective Date. This Amendment shall be effective as of the date first set forth above. 

  

	 	10.	Counterparts. This Amendment may be executed by either of the parties hereto in counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same
instrument. 

  

	 	  	[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

  
 3 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first set forth
above. 
  

			
	Audio Visual Services Group, Inc.
		
	By	 	/s/ J. Whitney Markowitz

 
			
	Name:	 	 J. Whitney Markowitz

	Title:	 	Chief Legal Officer and Secretary

 ACCEPTED AND AGREED: 
  

	
	
	/s/ Skylar Cunningham
	Skylar Cunningham

  
 4

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