Document:

Exhibit

Exhibit 10.1

SECOND AMENDMENT 
TO THE 
SJW GROUP 
EXECUTIVE SEVERANCE PLAN  
(As Amended and Restated January 1, 2010 and As Further Amended October 26, 2010 and November 15, 2016)

WHEREAS, SJW Group (the “Company”) maintains the SJW Group Executive Severance Plan (the “Plan”);
WHEREAS, the Company wishes to amend the Plan to include certain additional confidentiality provisions as required by law.
NOW, THEREFORE, the Plan is hereby amended as follows to be effective as of the date set forth below:
1.Section 4 of the Plan is hereby amended and restated in its entirety to read as follows:
“4.    CONFIDENTIALITY.
(a)    Preservation of a continuing business relationship between the Company or other members of the Employer Group and their respective customers, representatives, and employees is of critical importance to the continued business success of the Company and the other members of the Employer Group, and it is the active policy of the Company and the other members of the Employer Group to guard as confidential certain information not available to the public relating to the business affairs of the Company and the other members of the Employer Group. In view of the foregoing, no Officer shall, without prior written consent of the Company, disclose to any person or entity any such confidential information that was obtained by the Officer in the course of his or her employment with the Company or any other member of the Employer Group. This Section 4 shall not be applicable if and to the extent the Officer is required to testify in a legislative, judicial or regulatory proceeding pursuant to an order of Congress, any state or local legislature, a judge or an administrative law judge or is otherwise required by law to disclose such information.
(b)    Nothing in this Plan or any other Company document prohibits an Officer from providing confidential information to, or from reporting possible violations of law or regulation to, any self-regulatory authority or governmental agency, or from making disclosures that are protected under the applicable whistleblower provisions of state or federal law or regulation.
(c)    Federal law provides certain protections to individuals who disclose a trade secret to their attorney, a court, or a government official in certain confidential circumstances. Specifically, federal law provides that an individual shall not be criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret under either of the following conditions: (i) where the disclosure is made (1) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and

	
			
	 
	 
	 

(2) solely for the purposes of reporting or investigating a suspected violation of law; or (ii) where the disclosure is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. See 18 U.S.C. § 1833(b)(1). Federal law also provides that an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.  See 18 U.S.C. § 1833(b)(1).”
2.    Exhibit C of the Plan is hereby amended and restated in its entirety and its attachment replaced in its entirety by Addendum 1, attached hereto to this Second Amendment.
3.    Except as expressly modified by this Second Amendment, all the terms and provisions of the Plan shall continue to remain in full force and effect. 
[Signature Page Follows]

	
			
	 
	 
	 

IN WITNESS WHEREOF, the Company has caused this Second Amendment to be
executed on this 26th day of July, 2017.

SJW Group
	
	
	By: /s/ W. Richard Roth

	W. Richard Roth, President and

	Chief Executive Officer and

	Chairman of Board of Directors

[Signature Page to the Second Amendment to the Executive Severance Plan]

ADDENDUM 1
RELEASE AGREEMENT
This Release Agreement (“Release”) was given to me, ________________ (“Officer”), this ___ day of __________, 20__, by ________________ (the “Employer”). At such time as this Release becomes effective and enforceable (i.e., the revocation period discussed below has expired), and assuming Officer is otherwise eligible for payments under the terms of the SJW Group Executive Severance Plan (the “Plan”), Employer agrees to pay Officer pursuant to the terms of the Plan an amount equal to $_____ payable in ______ (____) equal annual installments (minus customary payroll taxes and withholdings).
In consideration of the receipt of the promise to pay such amount, Officer hereby agrees, for himself or herself, his or her heirs, executors, administrators, successors and assigns (hereinafter referred to as the “Releasors”), to fully release and discharge the Employer and its officers, directors, employees, agents, insurers, underwriters, subsidiaries, parents, affiliates, associates, successors and assigns (hereinafter referred to as the “Releasees”) from any and all actions, causes of action, claims, obligations, costs, losses, liabilities, damages and demands under any federal, state or local law or laws, or common law, whether or not known, suspected or claimed, which the Releasors have, or hereafter may have, against the Releasees arising out of or in any way related to Officer's employment with the Employer or the termination of that employment, including (without limitation) claims of wrongful discharge, emotional distress, defamation, fraud, breach of contract, breach of the covenant of good faith and fair dealing, discrimination claims based on sex, age, race, national origin, disability or any other basis under Title VII of the Civil Rights Act of 1964, as amended, the California Fair Employment and Housing Act, the Federal Age Discrimination in Employment Act of 1967, as amended (“ADEA”), the Americans with Disability Act, contract claims, tort claims, and wage or benefit claims, including (without limitation) claims for salary, bonuses, commissions, stock grants, stock options, vacation pay, fringe benefits, severance pay or any other form of compensation (other than the payments and benefits to which Officer is entitled under the Plan, his or her vested rights under the San Jose Water Company Section 401(k) Plan, the San Jose Water Company Retirement Plan, the San Jose Water Company Executive Supplemental Retirement Plan, the San Jose Water Company Cash Balance Executive Supplemental Retirement Plan, and any worker's compensation benefits under any workers' compensation insurance policy or fund).
In releasing claims unknown to Officer at present, Officer is waiving all rights and benefits under Section 1542 of the California Civil Code, and any law or legal principle of similar effect in any jurisdiction: “A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.”

	
			
	 
	 
	 

This Release and Waiver does not pertain to any claims which may subsequently arise in connection with the Employer's default in any of its payment obligations under the Plan.
Officer acknowledges that, among other rights subject to his or her Release and Waiver, Officer is hereby waiving and releasing any rights he or she may have under ADEA, that this release and waiver is knowing and voluntary, and that the consideration given for this release and waiver is in addition to anything of value to which Officer was already entitled from the Employer. Officer further acknowledges that he or she has been advised, as required by the Older Workers Benefit Protection Act, that: (a) the release and waiver granted herein does not relate to claims which may arise after this release and waiver is executed; (b) he or she has the right to consult with an attorney prior to executing this release and waiver (although Officer may choose voluntarily not to do so); and if Officer is over 40 years old upon execution of this (c) Officer has twenty-one (21) days from the date of termination of his or her employment with the Employer in which to consider this release and waiver (although Officer may choose voluntarily to execute this release and waiver earlier); (d) Officer has seven (7) days following the execution of this release and waiver to revoke his or her consent to this release and waiver; and (e) this release and waiver shall not be effective until the seven (7)-day revocation period has expired.
Nothing in this Release restricts or prohibits Officer from initiating communications directly with, responding to any inquiries from, providing testimony before, providing confidential information to, reporting possible violations of law or regulation to, or from filing a claim or assisting with an investigation directly with a self-regulatory authority or a government agency or entity, including the U.S. Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board, the Department of Justice, the Securities and Exchange Commission, the Congress, and any agency Inspector General (collectively, the “Regulators”), or from making other disclosures that are protected under the whistleblower provisions of state or federal law or regulation.  However, to the maximum extent permitted by law, Officer is waiving his or her right to receive any individual monetary relief from the Employer or any others covered by this Release resulting from such claims or conduct, regardless of whether Officer or another party has filed them, and in the event Officer obtains such monetary relief, the Employer will be entitled to an offset for the payments made pursuant to this Release. This Release does not limit Officer’s right to receive an award from any Regulator that provides awards for providing information relating to a potential violation of law.  Officer does not need the prior authorization of the Employer to engage in conduct protected by this paragraph, and Officer does not need to notify the Employer that Officer has engaged in such conduct.
Please take notice that federal law provides criminal and civil immunity to federal and state claims for trade secret misappropriation to individuals who disclose a trade secret to their attorney, a court, or a government official in certain confidential circumstances that are set forth at 18 U.S.C. §§ 1833(b)(1) and 1833(b)(2) related to the reporting or investigation of a suspected violation of the law, or in connection with a lawsuit for retaliation for reporting a suspected violation of the law.

	
			
	 
	 
	 

In case any part of this Release is later deemed to be invalid, illegal or otherwise unenforceable, Officer agrees that the legality and enforceability of the remaining provisions of this Release will not be affected in any way.

Dated: ______________, __________            ______________________________
(“Officer”)Exhibit

Exhibit 10.2

THIRD AMENDMENT TO THE

SJW GROUP EXECUTIVE SEVERANCE PLAN
(As Amended and Restated January 1, 2010 and As Further Amended 
October 26, 2010, November 15, 2016 and July 26, 2017)
WHEREAS, SJW Group (the “Company”) maintains the SJW Group Executive Severance Plan (the “Plan”); and
WHEREAS, the Company wishes to amend the Plan to revise the formula provisions of the Plan governing the calculation of the cash severance benefits payable under the Plan for the Company’s Chief Executive Officer thereunder and to provide that the Company’s Chief Executive Officer shall not be eligible to receive the tax gross-up benefits under the Plan. 
NOW, THEREFORE, the Plan is hereby amended as follows effective November 6, 2017:
1.    The last sentence of Section 1(j) of the Plan is amended in its entirety to read as follows: 
“The persons who are officers as of November 6, 2017 are set forth on Exhibit A”.
2.    Section 2(a) is amended in its entirety to read as follows:
“(a)    If (i) at any time during the period beginning with the execution of a definitive agreement to effect a Change in Control and ending with the earlier of (x) the termination of that agreement without a Change in Control or (y) the expiration of the twenty‐four (24)-month period measured from the effective date of the Change in Control contemplated by that agreement, an Officer incurs a Separation from Service because his or her Employee status is involuntarily terminated by his or her Employer for any reason other than Good Cause, or (ii) at any time within the twenty‐four (24)-month period measured from the effective date of a Change in Control, the Officer incurs a Separation from Service as a result of his or her resignation from Employee status for Good Reason, then the Employer shall provide that Officer with the following benefits (collectively the “Change in Control Benefit”), provided and only if such Officer timely delivers the requisite release under Section 2(b) and such release become effective in accordance with applicable law:
		
	(1)
	A cash amount determined in accordance with the formula provisions set forth below shall be paid (less any customary taxes and withholdings) in a series of successive equal annual installments over the period of years equal to the Applicable Multiple. Unless otherwise specified in attached Exhibit A, the Applicable Multiple for each Officer shall be three (3). The first such annual installment shall be paid on the last day of the sixty (60)-day period measured from the date of the Officer’s Separation from Service, provided that the release required of the Officer under Section 2(b) is delivered within the applicable time period set forth in such Section 2(b) and such release is 

effective and enforceable at that time following the expiration of any applicable revocation period. Each subsequent installment shall be paid on each successive one-year anniversary of the initial payment date, and the right to each installment payment hereunder shall be treated as a right to a series of separate payments for purposes of Section 409A.  Notwithstanding the foregoing generally applicable payment schedule for such cash amount, should the applicable Change in Control event not otherwise qualify as a change in ownership or effective control of the Company or a change in ownership of a substantial portion of the Company’s assets, as determined in each instance in accordance with the standards of Section 1.409A-3(i)((5) of the Treasury Regulations, or should the Separation from Service triggering the Change in Control Benefit otherwise occur prior to such a qualifying Change in Control event, then such cash amount shall be paid at such other time and in such other form, or pursuant to such other schedule, as is necessary to comply with any applicable requirements of Code Section 409A. The applicable cash amount for each Officer participating in the Plan shall be equal to the Applicable Multiple of the sum of the Officer’s annual rate of Salary and annual target bonus (each at the level in effect in the fiscal year of such cessation of Employee status or, if higher, immediately before the Change in Control).
		
	(2)
	A cash amount for the Company’s Chief Executive Officer equal to the annual bonus for the year of such cessation of Employee status based on actual performance, pro-rated for the number of days of employment during the year of termination, which shall be paid in a lump sum payment at the same time annual bonuses for such year are paid to other executives of the Company (but in any event no later than March 15 of the year following the year of the cessation of Employee status).

		
	(3)
	If the Officer elects to continue medical care coverage under the Company’s group health care plans pursuant to COBRA, the Employer will reimburse the Officer for the costs such Officer incurs to obtain such continued coverage for himself or herself and his or her spouse and  eligible dependents (collectively, the “Coverage Costs”) until the earlier of (x) the date of the last annual installment payable under Section 2(a)(1) above or (y) the first date on which the Officer is covered under another employer’s health benefit program without exclusion for any pre-existing medical condition. During the period for which the Officer’s COBRA coverage rights are in effect, such coverage shall be obtained under the Company’s group health care plans. For the period (if any) following the completion of such COBRA coverage and continuing through the completion of the limited period for which medical care coverage is to be provided hereunder, such coverage shall continue under the Company’s group health plans or pursuant to one or more other plans or insurance policies providing equivalent coverage. In order to obtain reimbursement for the Officer’s Coverage Costs under each applicable plan or policy, the Officer must submit appropriate evidence to the Employer 

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of each periodic payment of his or her Coverage Costs within ninety (90) days after the required payment date of those Coverage Costs, and the Employer shall within thirty (30) days after such submission reimburse the Officer for that payment. To the extent the Officer incurs any other medical care expenses reimbursable pursuant to the coverage obtained in accordance herewith, the Officer shall submit appropriate evidence of each such expense to the plan administrator within ninety (90) days after incurrence of that expense and shall receive reimbursement of the documented expense within thirty (30) days after such submission or after any additional period that may be required to perfect the claim. During the period such medical care coverage remains in effect hereunder, the following provisions shall govern the arrangement: (a) the amount of Coverage Costs or other medical care expenses eligible for reimbursement in any one calendar year of such coverage shall not affect the amount of Coverage Costs or other medical care expenses eligible for reimbursement in any other calendar year for which such reimbursement is to be provided hereunder; (ii) no Coverage Costs or other medical care expenses shall be reimbursed after the close of the calendar year following the calendar year in which those Coverage Costs or expenses were incurred; and (iii) the Officer’s right to the reimbursement of such Coverage Costs or other medical care expenses cannot be liquidated or exchanged for any other benefit.  To the extent the reimbursed Coverage Costs are treated as taxable income to the Officer, the Employer shall report the reimbursement as taxable W-2 wages and collect the applicable withholding taxes, and the resulting tax liability shall be the Officer’s sole responsibility. 
		
	(4)
	The Company will make provisions in its Executive Supplemental Retirement Plan (SERP) so that the Officer will, upon a Separation from Service under the circumstances set forth in Section 2(a), be credited for purposes of computing such Officer's benefits under the SERP with an additional number of Years of Service and years of age equal to the number of years for which such Officer is, upon his or her Separation from Service, to receive continued Salary by reason of the Applicable Multiple in effect for him or her pursuant to Section 2(a)(1) above.  In no event, however, shall any benefit be payable under the SERP earlier than it otherwise would have been paid in the absence of such additional Years of Service and age credits.

		
	(5)
	All outstanding stock options held by the Officer will immediately vest and become exercisable in full and may be exercised for any or all of the underlying shares until the expiration or sooner termination of the option term. Except as otherwise expressly provided in the agreement evidencing such award, each restricted stock unit or other stock award held by the Officer will also immediately vest, and the underlying shares will become issuable, in accordance with the terms of the applicable award agreement.  All outstanding Dividend Equivalent Rights held by the Officer at such time will 

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immediately vest, and any shares or cash amounts attributable to those rights will be paid to the Officer at the same time those shares and amounts would have otherwise been payable in the absence of such vesting acceleration.
		
	(6)
	The Officer (other than the Company’s Chief Executive Officer) shall, to the extent applicable, also be entitled to the special Tax Gross-Up under Section 14 of this Plan as part of his or her Change in Control Benefit.”

3.    The provisions of Section 14 of the Plan (other than Section 14(a)) shall not apply to the Company’s Chief Executive Officer.
4.    Exhibit A attached to the Plan is revised as set forth in Exhibit A attached hereto.
5.    Except as expressly modified by this Third Amendment, all the terms and provisions of the Plan shall continue to remain in full force and effect.  
IN WITNESS WHEREOF, the Company has caused this Amendment to be executed on this 20th day of October, 2017.
SJW Group
	
	
	By: /s/ W. Richard Roth

	W. Richard Roth, President and

	Chief Executive Officer and

	Chairman of Board of Directors

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EXHIBIT A
OFFICERS (as of November 6, 2017)
    
		
	Name
	Office

		
	Eric W. Thornburg
	President and Chief Executive Officer of SJW Group and SJW Land Company; Chief Executive Officer of San Jose Water Company and SJWTX, Inc.

		
	W. Richard Roth
	Chief Executive Emeritus of SJW Group and San Jose Water Company; President and Chief Executive Officer of Texas Water Alliance Limited

		
	Wendy Avila-Walker
	Controller and Assistant Treasurer of San Jose Water Company; Controller of SJW Group

		
	Dana R. Drysdale
	Vice President of Information Systems of San Jose Water Company

		
	Andrew R. Gere
	President and Chief Operating Officer of San Jose Water Company

		
	Craig S. Giordano
	Vice President of Engineering of San Jose Water Company

		
	Palle Jensen
	Executive Vice President of San Jose Water Company; Senior Vice President of Regulatory Affairs of SJWTX, Inc.

		
	Denia Leal
	Vice President of Human Resources of San Jose Water Company

		
	James P. Lynch
	Chief Financial Officer and Treasurer of SJW Group, San Jose Water Company, SJW Land Company, SJWTX, Inc. and Texas Water Alliance Limited

		
	Suzy Papazian
	General Counsel and Corporate Secretary of SJW Group and San Jose Water Company; Corporate Secretary of SJW Land Company, SJWTX, Inc. and Texas Water Alliance Limited

		
	Curtis A. Rayer, Jr.
	Vice President of Operations of San Jose Water Company

		
	John Tang
	Vice President of Regulatory Affairs and 

Government Relations of San Jose Water Company

		
	Andrew F. Walters
	Chief Administrative Officer of San Jose Water Company

		
	Thomas Hodge
	President of SJWTX, Inc.; Vice President of Texas Water Alliance Limited

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