Document:

Hawk Systems, Inc.

Exhibit 10.1

		
	 
	IN THE CIRCUIT COURT OF THE 15TH JUDICIAL CIRCUIT IN AND FOR PALM BEACH COUNTY, FLORIDA

CASE NO.: 50 2009 CA 020142 XXXX MB (AJ)

	LEONARD TUCKER, as Co-Trustee on behalf of THE TUCKER FAMILY SPENDTHRIFT TRUST, 

	 

	Plaintiff,

	 

	v.

	 

	EXPLORATIONS GROUP, INC., a Delaware corporation,

	 

	Defendant.

 ____________________________________/

	 

STIPULATION OF SETTLEMENT

 

THIS STIPULATION OF SETTLEMENT is executed on the 25th day of January, 2010 between and among LEONARD TUCKER, as Co-Trustee on behalf of the Tucker Family Spendthrift Trust ("Plaintiff") and EXPLORATIONS GROUP, Inc., a Delaware corporation ("Defendant") n/k/a Hawk Systems, Inc. and the parties have agreed as follows: 

1.

Defendant shall duly issue 3,960,030 shares of the common stock of Hawk Systems, Inc., in certificated form, and which certificates shall contain a restrictive legend limiting their sale or transfer pursuant to Rule 144 of the Rules of the United States Securities and Exchange Commission and any other applicable laws and rules subject to anti-dilutive rights for a period of three fiscal months thereafter pursuant to which additional shares of common stock and any capital stock be issued to the Plaintiff in such amounts if required so that the common stock and capital stock owned by Plaintiff shall be equal to 9.96% of all Defendant’s 

outstanding and reserved common stock and capital stock at the end of the three months following receipt of the common stock.  All certificates issued shall be in accordance with all applicable law and rules.  Plaintiff represents that it has paid the consideration at the time or prior to the issuance of the Convertible Bond dated May, 2004 that is the subject of this litigation.  Defendant shall also duly issue 64,165 shares of Series B Preferred Stock of Hawk Systems, Inc. in certificated form, and which shall contain a restrictive legend limiting their sale or transfer pursuant to Rule 144 of the Rules of the United States Securities and Exchange Commission and all other laws and rules subject to anti-dilutive rights for a period of three fiscal months thereafter pursuant to which additional shares of Series B Preferred Stock may be issued to the Plaintiff in such amounts if required so that the Series B Preferred Stock owned by Plaintiff shall be equal to 9.96% of all Defendant’s outstanding and reserved Series B Preferred Stock at the end of the three months following receipt of the Series B Preferred Stock.  All certificates issued shall be in accordance with all laws and rules.  Receipt by the Plaintiff of the share certificates within two business (2) days stated herein shall be in full and final settlement and payment of all outstanding claims, whether known or unknown, against Defendant subject to Plaintiff’s anti-dilutive rights as stated herein.   Upon execution of this Stipulation of Settlement, Plaintiff may provide a certificate (the “Certificate”) in the form attached as Exhibit “A” to Defendant’s counsel with a written request that the Defendant’s counsel provide an opinion to the Defendant’s transfer agent in the form attached as Exhibit “B.”  Plaintiff shall provide Defendant’s counsel with any updated information at the request of Defendant’s counsel to that contained on the completed Certificate.  Issuance of an opinion in conformity with Exhibit “B” shall be within the absolute discretion of Defendant’s counsel.  In the event that Defendant’s counsel does not issue an 

2

opinion as set forth herein, this Stipulation of Settlement and the Releases referred to in section 2 below, shall be null and void ab initio unless the parties agree differently in writing.

2.

Upon receipt of the share certificates as set forth in paragraph 1 above, the parties for themselves and their present and former heirs, beneficiaries, successors,  and assigns release and forever discharge each other, their present officers, agents and employees from any and all claims against from any and all claims and demands which have been or may have been based upon any facts or circumstances that arose or existed on or prior to the date the parties shall execute this Stipulation of Settlement and they shall execute General Releases attached hereto as Exhibits C and D and Plaintiff shall file the Stipulation and Order of Dismissal With Prejudice, attached as Exhibit E. In addition, Plaintiff shall tender the original Convertible Bond and any and all amendments thereto to counsel to Hawk Systems, Inc. for cancellation.  

3.

The parties shall execute such other and further documents as may be typical for settlements of this type and as may reasonably be requested by any party hereto in order to implement or further assure the terms hereof.  This Stipulation of Settlement may be executed in counterparts.

4.

The parties shall each bear the costs of their respective attorneys and experts and each has executed this Stipulation of Settlement freely and voluntarily after consulting with their counsel. In settling this dispute, neither party admits or concedes the truth of any allegations contained in the pleadings or concedes or acknowledges that they have any liability to the other and are settling this case to avoid the cost and expense of further proceedings and to bring finality to this matter. 

3

IN WITNESS WHEREOF, the parties have executed this Stipulation of Settlement Agreement on and as of the date first written above. 

 

PLAINTIFF:

 

LEONARD TUCKER, as Co-Trustee on behalf

of the TUCKER FAMILY SPENDTHRIFT TRUST    

 

 

By: /s/ Leonard Tucker

     ____________________________________

     LEONARD TUCKER, Co-Trustee

 

 

DEFENDANT:

 

HAWK SYSTEMS, INC. 

 

 

By: /s/ David Coriaty 

      ___________________________________

      DAVID CORIATY, Director

4ex10-1.htm

    

      Exhibit
10.1

      

      AMENDMENT
TO SUPPLEMENTAL PENSION AGREEMENT

      With
Kenneth J. Neises

      

      

      This
agreement (referred to herein as the “Amendment”) amends the Supplemental
Pension Agreement entered into by and between Laclede Gas Company (the
“Company”) and Kenneth J. Neises (“Neises”) on March 7, 2008 (such agreement
referred to herein as the “Agreement”).

      

      RECITALS

      

      WHEREAS,
the Company and Neises executed the Agreement on March 7, 2008;

      

      WHEREAS,
the Board adopted a resolution on November 19, 2009 allowing Neises to work up
to December 1, 2010; and

      

      WHEREAS,
the Company and Neises desire to amend the Agreement to extend the Agreement
relative to certain benefits under the Retirement Plan and SERP based upon
Average Final Compensation and Years of Credited Service;

      

      NOW,
THEREFORE, in consideration of the mutual promises contained in this Amendment,
the parties agree as follows:

      

      
        	
                1.

              	
                Article
      I of the Agreement is amended by adding the following definition as a new
      section 1.7 to read as follows:

              
	 
      	 
      	 
      	 
      
	 
      	
                1.7

              	
                “Grandfathered
      Formula” means the Grandfathered Formula as defined in Section 1.21
      of the Retirement Plan as restated on January 1, 2009.

              
	 
      	 
      	 
      	 
      
	
                2.

              	
                Section
      3.1 of the Agreement is amended and restated to read as
      follows:

              
	 
      	 
      	 
      	 
      
	 
      	
                3.1

              	
                Supplemental
      Pension
      Benefit Formula.  Upon the earliest to occur of Neises’
      death, Disability, or retirement, such date being known as the Calculation
      Date, the Supplemental Pension Benefit under this Agreement shall be
      calculated and shall be in an amount equivalent to:

              
	 
      	 
      	 
      	
                (A+B+C+D)
      – E

              
	 
      	 
      	 
      	 
      
	 
      	
                where
      A, B, C, D, and E are as follows:

              
	 
      	 
      	 
      	 
      
	 
      	 
      	
                A.

              	
                   
      = Neises’ monthly accrued benefit under the Plans calculated as if he had
      retired on November 1, 2005 converted to a lump amount calculated using
      the PBGC rate in effect on November 1, 2005 of 2.5% and other factors and
      formulas effective under the Plans for retirements on November 1,
      2005;

              

      

      

      

      
        
           

        

        
           

          
          

        

        
           

        

      

      

      
        	 
      	 
      	
                B.

              	
                   
      = The difference between (i) the monthly accrued benefit calculated in A.
      above, and (ii) the monthly accrued benefit calculated as if he had
      retired on November 1, 2007; with the difference between (i) and (ii) then
      converted to a lump sum amount calculated using the PBGC rate in effect
      for retirements on December 1, 2009 of 2.5%, and other factors and
      formulas effective under the Plans for retirements on November 1,
      2007;

              
	 
      	 
      	
                C.

              	
                   
      = The difference between (I) the monthly accrued benefit calculated in
      B.(ii), and (II) the monthly accrued benefit under the Grandfathered
      Formula calculated on December 1, 2009; with the difference between (I)
      and (II) then converted to a lump sum amount calculated using the factors
      and formulas effective under the Plans for retirements on December 1,
      2009, including the PBGC rate of 2.5%; and

              
	 
      	 
      	
                D.

              	
                   
      = The difference between (y) the monthly accrued benefit calculated in
      C.(II), and (z) the monthly accrued benefit under the Grandfathered
      Formula calculated on Calculation Date; with the difference between (y)
      and (z) then converted to a lump sum amount calculated using the factors
      and formulas effective under the Plans for retirements on the Calculation
      Date; and

              
	 
      	 
      	
                E.

              	
                   
      = Neises’ monthly accrued benefit under the Grandfathered Formula under
      the Plans converted to a lump sum amount calculated using the factors and
      formulas effective under the Plans for retirements on the Calculation
      Date.

              
	 
      	 
      	 
      	 
      
	 
      	
                No
      Supplemental Pension Benefit shall accrue under this Agreement on or after
      the Calculation Date.

              
	 
      	 
      	 
      	 
      
	
                3.

              	
                Except
      to the extent specifically amended by this Amendment, all of the terms,
      provisions, conditions, covenants, representations and warranties
      contained in the Agreement shall be and remain in full force and effect
      and the same are hereby ratified and confirmed.

              
	 
      	 
      	 
      	 
      
	
                4.

              	
                In
      the event of any inconsistency or conflict between this Amendment and the
      Agreement, the terms, provisions and conditions contained in this
      Amendment shall govern and control.

              

      

      

      IN
WITNESS WHEREOF, the Company and Neises have executed this Amendment
this

      7th day
of January 2010.

      
        	 
      	
                LACLEDE
      GAS COMPANY

              
	 
      	 
      
	 
      	
                By  /s/ Douglas H.
      Yaeger

              
	 
      	
                Title:
      Chief Executive Officer

              

      

      

      
        	 
      	 
      
	 
      	 
      
	 
      	
                /s/ Kenneth J.
      Neises

              
	 
      	
                Kenneth
      J. Neises

              

      

      

      
        
          
             

          

           

        

        
           

          -2-

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