Document:

Exhibit 10.1

      

      

      

      	 	
              September 29, 2020

            
	 	 
	
              Janel Corporation

            	 
	
              80 Eighth Avenue

            	 
	
              15th Floor

            	 
	
              NewYork, NewYork 10011

            	 

       

      	 	Re:	
              Subscription Agreement (this “Agreement”) for the Purchase of Series C Cumulative Preferred Stock of Janel Corporation

            

       

      Dear Oaxaca Group LLC:

       

      

      As of the date hereof pursuant to the terms and conditions listed below, the undersigned (the “Investor”) hereby subscribes for the purchase of 650 shares of
        Series C Cumulative Preferred Stock, designated as “Series C Cumulative Preferred Stock,” par value $0.001 per share (the “Shares”), of Janel Corporation, a Nevada corporation (the “Company”), at a purchase price of $500.00 per Share, or an aggregate purchase price of $325,000, and hereby tenders such aggregate purchase price to the Company by wire transfer to the Company.

       

      In consideration of the acceptance by the Company of the Investor’s subscription for the Shares as set forth herein, the Investor hereby agrees, covenants, represents and warrants as follows:

       

      	

            	1.	
              
                
                  Representations and Warranties of the Investor.

                

              

            

       

       The Investor represents and warrants to the Company as follows:

       

      

       (i)        Review of Company Information. The Investor has received, carefully reviewed and is familiar
        with the Company’s filings with the Securities and Exchange Commission, including, without limitation, the Company’s Annual Report on Form 10-K for the year ended September 30, 2019, Quarterly Reports on Form 10-Q for the quarters ended December
        31, 2019, March 31, 2020 and June 30, 2020 and Current Reports on Form 8-K since June 30, 2020 (the “Securities Filings”). The Investor understands and has evaluated the risks of an investment in the Company,
        including, without limitation, the risks set forth in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended September 30, 2019. 

       

      

       (ii)        Investment Intent. The Investor is acquiring the Shares solely for investment, solely for the Investor’s own account, not for the
        account of any other person, and not for distribution, assignment or resale to others and no other person has a direct or indirect beneficial interest in any Shares so acquired. 

      

      

      
        
          

      

      
        (iii)        Independent Advisors. The Investor has consulted with the Investor’s legal and tax advisors with respect to legal matters and the financial and tax
        consequences of an investment in the Company, as well as the suitability of this investment, based on the Investor’s individual circumstances. 

       

       (iv)        Access to Other Information. In making a decision to purchase the Shares, the Investor has
        relied solely upon its independent investigation. The Investor has had the opportunity to ask questions of and receive answers from the Company (or persons acting on its behalf) concerning the terms and conditions of an investment in the Shares,
        the activities of the Company, and other matters pertaining to this investment and to obtain any additional information which the Company possesses or can acquire without unreasonable effort or expense that is necessary to verify the accuracy of
        information furnished by the Company in the Securities Filings or that which was otherwise provided in order for the Investor to evaluate the merits and risks of an investment in the Shares, and has not been furnished any other offering literature
        or prospectus. All such questions and requests for information have been answered to the full satisfaction of the Investor. 

       

       (v)        Advertisement. The Investor has neither relied upon nor seen any form of advertising or general
        or public solicitation, including communications published in or broadcasted by any print or electronic medium and mass mailings, in connection with the offering of the Shares, and is not aware of any such solicitation or advertisement received by
        others. 

       

       (vi)         Accredited Investor Status. 

       

      The Investor is an “accredited investor” within the meaning of Rule 501 of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”).

       

      (viii)        Investor’s Residence. The Investor has its principal office in the State of New York, and has
        no present intention of changing such principal office.

       

      (ix)        Risk of Investment. The Investor acknowledges that an investment in the Company involves a high
        degree of risk. The Investor acknowledges that the purchase of the Shares is a speculative investment involving a high degree of risk and any estimates and predictions that may have been made by the Company merely represent predictions of future
        events, which may or may not occur and are based on assumptions, which may or may not occur. As a consequence, such predictions may not be relied upon to indicate the actual results, which might be attained. The Investor understands that he/she
        must therefore bear the economic risk of this investment for an indefinite period of time and be able to withstand a total loss of the investment.

       

       (x)         Limited Market for Shares. The Investor understands that the issuance of the Shares has not
        been registered under the Securities Act and that the Shares are being sold in reliance upon the exemption from the registration requirements under the Securities Act provided in Regulation D promulgated thereunder or pursuant to other exemptions
        not inconsistent therewith. The Investor further understands that there is a limited public trading market for the Shares and there can be no assurance that an active market will develop. 

       

      

      
        -2-

        
          

      

      (xi)        Restrictions on Transferability; Legend. The Investor acknowledges and understands that: (a) the
        Shares have not been registered under the Securities Act and any applicable state or foreign securities laws (the “State Acts”), and may not be sold, pledged, hypothecated, donated or otherwise transferred
        (whether or not for consideration) by the Investor unless registered pursuant to the Securities Act and the State Acts, or upon presentation to the Company of evidence satisfactory to the Company, or submission to the Company of a favorable opinion
        of counsel acceptable to the Company, to the effect that any such transfer is subject to an applicable exemption under and will not be in violation of the Securities Act and the State Acts; (b) the Company has not agreed to register the Shares for
        distribution in accordance with the provisions of the Securities Act or the State Acts, and has not agreed to comply with any exemption under the Securities Act and the State Acts for the transfer of the Shares; and (c) as a result of the
        limitations on the ability to transfer the Shares, the Investor may be required to hold the Shares indefinitely and therefore may not realize any liquidity from any sale of the Shares. The Investor understands that the certificates, if any,
        representing the Shares may bear at issuance a restrictive legend in substantially the following form:

      

      

      “The securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state, and may not be
        offered, transferred, pledged, hypothecated, sold or otherwise disposed of unless a registration statement under the Securities Act and applicable state securities laws shall have become effective with regard thereto, or an exemption from
        registration under the Securities Act and applicable state securities laws is available in connection with such offer or sale.”

       

       (xii)        Entity Authority. The Investor is duly and validly organized, validly existing and in good
        standing under the laws of the jurisdiction of its organization as set forth on the signature page hereof, with the requisite corporate power and authority to purchase the Shares to be purchased by it hereunder and to execute and deliver this
        Agreement. The Investor has previously made other investments or engaged in other substantive business activities prior to receiving an opportunity to purchase the Shares and was not formed with a view to investment in the Shares. 

       

      (xiii)        Finder’s Fees. The Investor has made no arrangement, which could give rise to any broker’s or
        finder’s fees or similar fees in connection with the purchase of the Shares.

       

       (xiv)       Reliance by Company. The foregoing representations and warranties and all other information
        which the Investor has provided to the Company concerning such Investor, the financial position of the Investor, and the Investor’s knowledge of financial and business matters, or in the case of persons investing as joint tenants or a corporation,
        partnership, trust or other entity, the knowledge of financial and business matters of the person making the investment decision on behalf of such joint tenants or entity, including all information contained herein, are true and accurate as of this
        date and shall be true and accurate as of the date of the acceptance by the Company of this subscription. If in any respect such representations, warranties or information shall not be true and accurate at any time prior to the Investor’s receipt
        of confirmation of acceptance of this subscription, the Investor will give written notice of such fact to the Company, specifying which representations, warranties or information are not true and accurate and the reasons therefor. 

      

      

      
        -3-

        
          

      

      	

            	2.	
              
                Covenant of the Investor.

              

            

       

      The Investor covenants and agrees that the Investor will not take, or cause to be taken any action with respect to the Shares that would cause the Investor to
        be deemed an “underwriter” as defined in Section 2(11) of the Securities Act.

       

      	

            	3.	
              
                Indemnification.

              

            

       

      The Investor understands and acknowledges that the Company and its control persons are relying on the representations, warranties and agreements made by the
        Investor in this Agreement and the Investor agrees to indemnify and hold harmless the Company, its control persons, the Company’s affiliates and anyone acting on its behalf from and against all damages, losses, costs and expenses (including
        reasonable attorneys’ fees) which they may incur by reason of any breach of the representations and warranties made by the Investor herein.

      

      

      	

            	4.	
              
                Binding Effect; Successors and Assigns.

              

            

       

      This Agreement will be binding upon the parties hereto, the successors and assigns of the Company and the heirs, personal representatives, successors and
        assigns of the Investor. This Agreement will inure to the benefit of the Company and its successors and assigns. Neither this Agreement nor any part of it is assignable by the Investor.

      

      

      	

            	5.	
              
                Miscellaneous.

              

            

       

       (i)        Upon the Company’s acceptance of this subscription by countersigning below, this Agreement constitutes the entire agreement among the parties hereto with respect to the subscription by
        the Investor for the Shares and may be amended only by a writing executed by the parties hereto. 

      

      

       (ii)        Within 10 days after receipt of a written request from the Company, the Investor agrees to provide such information and to execute and deliver such documents as reasonably may be
        necessary to comply with any and all laws and ordinances to which the Company is subject. 

       

       (iii)        Each provision of this Agreement shall be considered separable and if for any reason any provision or provisions hereof are determined to be invalid or contrary to applicable law,
        such invalidity shall not impair the operation of or affect the remaining portions of this Agreement. 

       

      

      
        -4-

        
          

      

      (iv)        This Agreement shall be construed in accordance with the laws of the State of New York.

      

      

      	 	
              Sincerely,

            
	 	 
	 	
              Oaxaca Group LLC

            

      

      

      	 	
              By: 

              

            	/s/Dominique Schulte	

            

      

      

      	 	
              Name: Dominique Schulte

            

      

      

      	 	
              Title: 

              

            	Managing Member	 

      

      

      	 	

            	

            
	 	
              Taxpayer Identification Number

            

      

      

      	
              ACCEPTED THIS 29th OF SEPTEMBER, 2020

            	 
	 	 
	
              
                Janel Corporation, a Nevada corporation

              

            	 

      

      

      	

            	
               /s/ Vincent A. Verde

            	

            	

            

      

      

      	
              By: Vince Verde, Principal Financial Officer

            

      

      

      

      

      -5-Document

EXHIBIT 10(bb)
Second Amendment to the
Campbell Soup Company
Supplemental Retirement Plan

WHEREAS, Campbell Soup Company (“Company”) previously established the Campbell Soup Company Supplemental Retirement Plan (the “Plan”) primarily to provide eligible executives of the Company and any designated subsidiary with an additional method of planning for retirement and other significant saving needs with respect to amounts deferred or vested after 2004;

WHEREAS, pursuant to Article IX of the Plan, the corporate officer in charge of Human Resources of the Company reserves the right to amend or terminate the Plan; 

WHEREAS, pursuant to Article I, Sections 1.20 of the Plan, the corporate officer in charge of Human Resources of the Company reserves the right to designate a participating employer in the Plan; and

WHEREAS, the corporate officer in charge of Human Resources desires to amend the Plan to remove certain participating employers in the Plan who are no longer subsidiaries of the Company and revise the eligibility for certain non-elective contributions under the Plan.

NOW, THEREFORE, BE IT:

RESOLVED, effective June 17, 2019 and September 23, 2019, respectively, Wm. Bolthouse Farms, Inc. and Kelsen, Inc. are hereafter no longer deemed participating employers in the Plan and each entity is hereafter no longer included in the definition of “Employer” under Article I, Section 1.20 of the Plan and as set forth in Exhibit A, which is attached hereto; 

RESOLVED, effective August 1, 2019, Article II, Section 2.1 is amended to read, in its entirety, as follows:

2.1      Eligibility.  Each Eligible Executive with a salary level of A, B, or C may elect to defer his or her Compensation in accordance with the Plan. Each Director may elect to defer his or her Director’s Fees in accordance with the Plan. Rules regarding both Initial Distribution Elections and Subsequent Deferral Elections by Eligible Executives are provided in Article V.

Each Eligible Executive whose annual base salary and annual incentive compensation award equal or exceed the amount required by the Plan Administrator shall be eligible for Supplemental Match contributions. Each Eligible Executive who commences employment with, or is rehired by, an Employer on or after January 1, 2011, and is not eligible to accrue benefits under the SERP, shall be eligible for Supplemental Retirement Contributions if the Eligible Executive's annual base salary and annual incentive compensation award equal or exceed the amount required by the Plan Administrator. Each Eligible Executive hired, rehired or promoted into a position with either a salary grade of 46 or above on or after January 1, 2011 who is not eligible to accrue benefits under the Mid-Career Plan, or with a salary level of A on or after August 1, 2015, shall be eligible for Executive Retirement Contributions. In addition, the Chief 

Executive Officer reserves the right to designate certain Eligible Executives to receive this benefit.

IN WITNESS WHEREOF, this instrument has been executed on September 16, 2020.

Campbell Soup Company

By:   /s/ Xavier Boza                            
        Xavier Boza
                                                                                 EVP & Chief Human Resources Officer

Exhibit A
 Designated Subsidiaries

January 1, 2011
			
	Campbell Investment Company

	Campbell Finance Corp. LLC

	Campbell Food Service Company

	Campbell Sales Company

	Campbell Soup Supply Company LLC

	Campbell Urban Renewal Corporation

	CSC Brands LP

	CSC Insights, Inc.

	CSC Standards, Inc.

	Ecce Panis, Inc.

	Garden Fresh Gourmet Foods, Inc. (the legal entity formerly known as Stockpot, Inc.).

	Joseph Campbell Company
	Pepperidge Farm, Incorporated

	

January 1, 2014
Plum PBC

August 1, 2018
Baptista’s Bakery, LLC
S-L Distribution Company, LLC
S-L Snacks AZ, LLC
S-L Snacks GA, LLC
S-L Snacks IN, LLC
S-L Snacks Logistics, LLC
S-L Snacks MA, LLC
S-L Snacks National, LLC
S-L Snacks NC, LLC
S-L Snacks OH, LLC
S-L Snacks OR, LLC
S-L Snacks PA, LLC
S-L Snacks WI, LLC
Snyder’s-Lance, Inc.

January 1, 2019
Pacific Foods of Oregon, LLC

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