Document:

exhibit101.htm

 

 

 

TEAMING & MUTUAL COOPERATION AGREEMENT

THIS TEAMING AGREEMENT (the “Agreement”) is made and entered into this [   ] day of [July] 2012, by and between E-WASTE SYSTEMS, INC. 101 First St. #493, Los Altos, CA 94022 (“EWSI”), and Two Fat Greeks, LLC. whose address is [                   ] “TFGL”.

RECITALS

WHEREAS, EWSI entered the e-waste recycling business by acquisition of a company previously owned by the principal of TFGL which specialized in electronic imaging equipment, and now chooses to turn its focus of attention to a broader range of electronics, and desires to move to more suitable premises to do so, and

WHEREAS, TFGL has significant practical expertise in processing end of life imaging electronics, and desires to use and take over the existing premises of EWSI and to purchase certain imaging product inventory in the current premises, and

WHEREAS, TFGL desires to provide selected non-exclusive operational support for EWSI’s business development initiatives, and

WHEREAS EWSI wishes to engage TFGL to perform certain non-exclusive services described under this Teaming Agreement.

NOW, THEREFORE, the parties hereby agree as follows:

1) Joint Cooperation

EWSI and TFGL have resolved to enter into this Agreement to process various ranges of end of life electronics with the objective of providing the highest standards of recycling, refurbishing, and reselling of these assets, in keeping with the customer’s requirements, for either reuse or scrap.  No landfilling and no export of hazardous materials will be allowed.  All data will also be destroyed to satisfy customer requirements and to satisfy EWSI’s own high-end standards.

2) EWSI Brand

EWSI shall be the sole commercial brand deployed in the operation of services under this Agreement for all its customers.  All communication, correspondence and documentation with its customers shall be as directed by EWSI and shall only reference EWSI.

3) Principles

The Parties warrant to each other that they shall deploy the highest industry and ethical standards in execution of the contracted customer services, including but not limited to the following:  zero landfilling of any electronics or other waste; complete destruction of customer data; provision of certificates of destruction; resale of still usable electronics only with the consent of the customer; and prohibition of any improper or illegal exportation.  In addition, the Parties agree to be guided by, but may exceed and therefore not be limited to, the highest legal standards in the world, generally accepted to be Europe’s WEEE Directive, as well as the principles of the R2 standards as
recommended by the United States EPA.

 

 

 

 

 

  

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4) Customers

The customers that will be solicited by EWSI are primarily OEM’s, retailers or distributors of electronics, corporations, and government related institutions.

5) Geography

The Parties are not limiting themselves to any specific sector or geography. It is contemplated that the Parties may choose to pursue opportunities elsewhere in the U. S. and abroad.

6) Management

Under this Agreement,

	
a.  

	
EWSI will maintain ownership of and responsibility for customer accounts that exist on today’s date as belonging to EWSI’s Ohio subsidiary, including the list show as Exhibit A to this agreement

	
b.  

	
EWSI will move to a new location to operate from separate, independent facilities from TFGL

	
c.  

	
For any EWSI customers that EWSI chooses to serve through TFGL, and which TFGL agrees to service, TFGL will be responsible for implementing the commercial services only as directed by EWSI, and for complying with all elements of the processing contained in any statement of work or equivalent controlling document,

	
d.  

	
Processes to be delivered by either Party in concert with the other include the following;

	
i.  

	
Removal of equipment

	
ii.  

	
Labor

	
iii.  

	
Trucking

	
iv.  

	
Grading

	
v.  

	
Parting

	
vi.  

	
Refurbishment

	
vii.  

	
Testing

	
viii.  

	
Data destruction

	
ix.  

	
Packaging

	
x.  

	
Financing

	
xi.  

	
Selling or reselling

	
xii.  

	
Reporting to the customer

	
xiii.  

	
Reporting to EWSI

	
xiv.  

	
Environmental compliance, and

	
xv.  

	
Providing for on-site inspections, tours etc of the facility

7) Sale by EWSI of Certain Inventory to TFGL

EWSO shall retain and move to its new location certain of its inventory which was purchased from Cinco Electronics, consisting of [X pallets] of flat panel TV’s and monitors as shown as Exhibit [B] to this agreement; and certain inventory sourced from CR Electronics, consisting of [X pallets] of miscellaneous end-of life electronics also as shown on the same Exhibit [B].  As part of this agreement, EWSO agrees to sell to TFGL and TFGL agrees to buy the remaining inventory on the books of EWSO, for a cash price of [$65,000] (the ‘Inventory’).

Terms of the sale of the Inventory will be net 60 days.  Until the entire payment is made, EWSI shall have a first claim over the Inventory and shall have the unequivocal right to recovery of all such inventory if payments are not made.

 

 

 

 

  

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8) Payments and Obligations to Warhaft

The Parties understand that the Inventory was purchased by EWSO under terms of a line of credit provided by Dr. Val Warhaft and that that note provides security over all the inventory until it is paid back or otherwise retired.  TFGL hereby agrees to protect and abide by all terms of that line of credit and agrees to make the monthly interest payments each month when they are due until the note reaches maturity.

9) Sublet of EWSO Facility

As part of this agreement, TFGL shall assume all obligations of the existing facility which is under the name of Tech Disposal, Inc. (the previous name of EWSO), and shall commit to replacing the lease in its own name within 90 days.  All unpaid costs of operating from this facility and all costs from the date of this Agreement will be the responsibility of TFGL.

10) No Employees; Non-Solicitation

All employees of each Party will remain with their respective companies and both Parties hereby agree not to solicit or otherwise induce any employees to become employed by the other Party.

11) Fixed Assets

EWSO retains will transfer to its new facility specific assets needed to carry on its trade from there.  Included will be all those assets existing on the fixed asset register of EWSO, including without limitation truck/forklift vehicles, scales, computer systems, security cameras, label printers, large scale copier/printer, desks, workbenches, and warehouse racking.  During the transition period whereby EWSO will be moving to its new location, the parties will cooperate in the use of these assets to complete the move.

12) Commercial Collaboration

The Parties shall agree to a non-exclusive collaboration that allows each Party to pursue business opportunities that may voluntarily involve the other Party.  Such opportunities shall provide for approval of any commercial or terms which might involve the other Party prior to final agreement with any customer.  Neither Party may position itself as the sole decision maker in any such commercial arrangement, nor shall either Party have the right, power, or authority to bind the other to any proposed transaction without written consent from an officer of the other Party.

13) Locations

So long as this Agreement remains valid, the facility taken over by TFGL under this agreement, may be identified as part of the EWSI location network via its website and other public documents as EWSI chooses.

14) Accounting

Any work performed and the related accounting will be done by the Parties on an open book basis in accordance with EWSI’s accounting policies provided for under U.S. GAAP, and may be subject to review and/or audited by EWSI’s auditors. All revenue and associated costs of EWSO shall be consolidated into EWSI’s financial statements on a monthly basis.   All costs associated with each contract will be booked at cost, and net profits after all direct costs of sales will be divided in proportion to a specific document in writing for each transaction.

 

 

 

 

  

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15) Event of Default

The Parties that an event of default under this agreement may cause immeasurable harm to the other Party and each Party retains the irrevocable right to restitution, including but not limited to attorneys fees and damages.

16) Term & Termination

The term of this Teaming Agreement will initially be for 1 year, with a six-month review to ensure that the terms of this Agreement provide a fair reflection of the performance and rewards of each party, and may be renewed for up to two further years, by mutual agreement.   Either Party may elect to terminate the Agreement by giving notice to the other party no later than 60 days prior, without penalty.  Either Party may terminate this Agreement at any time for ”cause”, to be defined as material breach of this Agreement, gross misconduct, mal-feasance, moral or unethical dealings, or violation of any laws of any applicable jurisdiction.  In the event of termination, the
Parties shall complete all contracted services and settle the financial matters between them in according to the terms of this Agreement. Notwithstanding  the above, this obligations concerning the purchase of the Inventory, the payments due under the Warhaft Note, the sub-lease obligations, and the operating cost obligations shall survive any termination until such time as they are fully and properly discharged.

17) Non-Circumvention/Non-Competition

The customers served by this Agreement and shown on Exhibit [c] belong to EWSI and TFGL shall not do or take any action to circumvent EWSI or otherwise attempt to take away the business of these customer from EWSI.  In addition, TFGL shall not do anything or take any action that would compete with EWSI.

18) Code of Business Conduct and Ethics and Governance

The Parties to this Agreement agree to abide by the published policies of EWSI, including but not limited to EWSI’s Code of Business Conduct and Ethics, and Insider Trading Policy.  The Parties also agree to cooperate fully in any relevant and required filings by EWSI with government agencies, including but not limited to the United States Securities and Exchange Commission.

19) Change of Control Provision

 

In the event that any Party to this Agreement sells a controlling interest of its company to a third party other than through EWSI’s current round of capital raising, the other Party shall have the right to cease work on behalf of any customer until it becomes satisfied (or otherwise) with the new third party, at which time it may choose to carry on or terminate this Agreement.

20) Authority

The Parties warrant to each other that they have full authority to enter into this Agreement and agree to be bound by its terms.

21) No Strict Construction

The Parties confirm that there is no relevance to the order of listing of the terms of this Agreement and that if any single element of this Agreement is deemed invalid the other elements shall remain valid and in full force.

 

 

 

  

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22) Governing Law

The laws governing this Agreement will be those of the state of Ohio, USA.  In case of any dispute regarding this Agreement, the parties shall refer any disputes to and to agree to be bound by the findings of the American Arbitration Association.

The Parties hereby approve and accept these terms on the date shown below.

 

	
On Behalf of E-Waste Systems, Inc.

	
On Behalf of TFG, LLC.

	  	  
	  	  
	  	  
	  /s/         Martin  Nielson                                                   	  
	
Name:    Martin Nielson

	
Name:    

	
Title:      Chief Executive Officer

	
Title:      

	
Date:      [19 Jul] 2012

	
Date:      

 

 

 

 

 

 

 

  

- 5 -ex10-25.htm

Exhibit 10.25

The Laclede Group

2006 Equity Incentive Plan

Restricted Stock Unit Award Agreement

THIS RESTRICTED STOCK UNIT AWARD AGREEMENT is made as of this 1st day of October 2012, between The Laclede Group, Inc. (the “Company”) and Steve Lindsey (the “Participant”).  References in this Agreement to “Company” include Subsidiaries and any entity that succeeds to all or substantially all of the business of The Laclede Group, Inc.

Pursuant to the terms of the Company’s 2006 Equity Incentive Plan, as approved by shareholders in January 2011, (the “Plan”), the award under this Agreement is being made as a special grant of restricted stock units of the Company authorized by the Board of Directors and the Board’s Compensation Committee (“Committee”), subject to the Participant’s acceptance of the terms, conditions and restrictions applicable to the restricted stock units set forth in this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants set forth in this Agreement, the parties hereto hereby agree as follows:

1.           Award of Restricted Stock Units.  Pursuant and subject to the terms and conditions set forth herein and in the Plan, the Company awards to the Participant Three Thousand Eight Hundred Ninety Nine (3,899) restricted stock units (the “Units”), subject to the terms, conditions and restrictions described in this Agreement and in the Plan (the “Award”).

2.           Award Date.  The Award Date of the Units in this Award is October 1, 2012.

3.           Incorporation of Plan.  All terms, conditions and restrictions of the Plan are incorporated herein and made part hereof as if stated herein.  If there is any conflict between the terms and conditions of the Plan and this Agreement, the terms and conditions of the Plan, as interpreted by the plan administrator, shall govern.  All capitalized terms used herein, but not otherwise defined, shall have the meaning given to such terms in the Plan.

4.           Restrictions and Conditions.  The Units are being awarded to Participant subject to the transfer and forfeiture conditions set forth below that shall lapse, if at all, as described in Section 5.

5.           Lapse of Restrictions.  The Participant accepts this Award and agrees that the restrictions relative to the Units shall lapse and Participant shall vest in the Units as follows:

  

1

  

  

	
 

 

On (“Vesting Date”)

	
 

 

Percentage of Units that shall vest

	
October 1, 2013

	
50%

Or 1,950 units

	
October 1, 2014

	
25%

Or 974 units

	
October 1, 2015

	
25%

Or 975 units

Notwithstanding the foregoing,

 

 

	
(i)  

	
In the event of a Change in Control of the Company (as defined in the Participant’s Severance Benefit Agreement with the Company dated as of October 1, 2012, referred to hereafter as the “Severance Agreement”), the Units shall be deemed earned in full and all restrictions as to such number of Units shall lapse if the Award has not otherwise been forfeited; and

 

 

	
(ii)  

	
If a Participant is terminated by the Company without Cause (as defined by the Plan) or voluntarily resigns for Good Reason (as defined by Severance Agreement) during the period of April 1, 2013 through October 1, 2015, the Units shall be deemed earned in full and all restrictions as to such number of Units shall lapse if the Award has not otherwise been forfeited.

 

6.           Dividends and Other Shareholder Rights.  Participant shall have no rights as a shareholder of the Company in respect of the Units including the right to vote and to receive cash dividends or dividend equivalents and other distributions until delivery of the shares of Common Stock in settlement of the Units.

7.           Adjustments.  In the event of any Event (as defined in Section 13.1 of the Plan) that the plan administrator determines should result in the adjustment of Common Stock to prevent dilution or enlargement of the benefits intended to be granted hereunder, the plan administrator shall adjust the Award as it deems appropriate to prevent such dilution or enlargement.

8.           Delivery of Certificates or Equivalent.  Upon the lapse of restrictions applicable to the Units, the Company shall deliver to the Participant a certificate or evidence of direct registration of a number of shares of Common Stock equal to the number of Units upon which such restrictions shall have lapsed.  No fractional shares shall be issued.

  

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9.           No Right to Continued Employment.  Nothing in this Agreement shall confer on the Participant any right to continuance of employment by the Company or a subsidiary nor shall it interfere in any way with the right of Participant’s employer to terminate Participant’s employment at any time.

10.           Tax Withholding.  The Company is entitled to withhold applicable taxes for the respective tax jurisdictions attributable to this Award or any payment made in connection with the Units.  Participant may satisfy any withholding obligation by electing to have the plan administrator retain shares of Common Stock deliverable in connection with the Units having a Fair Market Value on the date the restrictions lapse as provided in Section 5 equal to the amount to be withheld.

11.           Confidential Information and Restrictions on Soliciting Employees. Notwithstanding any provision of this Agreement to the contrary, the Participant shall pay to the Company the Fair Market Value of the shares of Common Stock attributable to the Units that vest under this Award, if, during the period beginning on the Award Date hereof and ending 18 months following the date the Participant’s employment with the Company terminates, the Participant: (1) discloses Confidential Information, as defined below, to any person not employed by the Company or not engaged to render services to the Company; or (2) Solicits Employees, as defined below.  Fair Market Value shall be calculated on the date of the first violation of this Section 11.

For purposes of this Section 11, “Confidential Information” means information concerning the Company and the business that is not generally known outside the Company, and includes (A) trade secrets; (B) intellectual property; (C) methods of operation and processes; (D) information regarding present and/or future products, developments, processes and systems; (E) information on customers or potential customers, including customers’ names, sales records, prices, and other terms of sales and cost information; (F) personnel data; (G) business plans, marketing plans, financial data and projections; and (H) information received in confidence from third parties.  This provision shall not preclude the Participant from use or disclosure of information known generally to the public or of information not considered confidential by persons engaged in the business conducted by the Company or subsidiary or from disclosure required by law or court order.

“Solicits Employees” means the Participant’s direct or indirect hire, solicit to hire, or attempt to induce any employee of the Company or a subsidiary (who is an employee of the Company or a subsidiary as of the time of such hire or solicitation or attempt to hire) or any former employee of the Company or a subsidiary (who was employed by the Company or a subsidiary within the 12-month period immediately preceding the date of such hire or solicitation or attempt to hire) to leave the employment of the Company or a subsidiary.

12.           Integration.  This Agreement, and the other documents referred to herein or delivered pursuant hereto that form a part hereof, contain the entire understanding of

  

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the parties with respect to its subject matter.  There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth herein.  This Agreement, including without limitation the Plan, supersedes all prior agreements and understandings between the parties with respect to its subject matter and may only be amended by mutual written consent of the parties.

13.           Governing Law.  This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Missouri, without regard to the provisions governing conflict of laws.

14.           Compliance with Laws and Regulations.  The obligation of the Company to deliver shares of Common Stock hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required.

15.           Non-Transferability.  The Units shall not be transferable by Participant and may not be, sold, assigned, disposed of, or pledged or hypothecated as collateral for a loan or as security for performance of any obligation or for any other purpose until after the restrictions have lapsed as provided in Section 5.

  

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16.           Participant Acknowledgment.  By accepting this Award, the Participant acknowledges receipt of a copy of the Plan, and acknowledges that all decisions, determinations and interpretations of the plan administrator in respect of the Plan and this Agreement shall be final and conclusive.

In addition, the Participant expressly acknowledges that violation by the Participant of Section 11 of this Agreement will obligate the Participant to pay to the Company the Fair Market Value of Common Stock relative to the Units that become vested pursuant to Section 5.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day first written above.

 

	  	
THE LACLEDE GROUP, INC.

	 	 	 
	 	 	 
	 	 	 
	  	
By:

	
    /s/ Suzanne Sitherwood

	  	
 

Title:

	
Suzanne Sitherwood

President and Chief Executive Officer

	  	
 

 

 

/s/ Steve Lindsey

	
Steve Lindsey

  

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