Document:

EXHIBIT 10.1

 

 

EQUITY AWARD NOTICE

«FIRST_NAME» «MIDDLE_NAME». «LAST_NAME»

«HOME_STREET»

«HOME_CITY», «HOME_PROVINCE», «HOME_POSTAL_CODE»

Pursuant to the terms and conditions of the Haverty Furniture Companies, Inc. 2014 Long-Term Incentive Plan (the "Plan"), on January 26, 2016, you were granted a restricted stock unit award ("RSU") in the amount of «number_awarded» units.  Each RSU is equivalent to one share of common stock upon vesting.

Subject to your continued employment with the Company, your award will vest over four years in accordance with the following schedule:

25% vest on May 8, 2017

25% vest on May 8, 2018

25% vest on May 8, 2019

25% vest on May 8, 2020

Until vested, the units represented by this award are not entitled to receive cash dividends and do not have the right to vote. This award will vest immediately upon a change in control, death or permanent and total disability as defined in Section 2 of the Plan.  Awards not vested at retirement will be forfeited. Please consult the 2014 Long-Term Incentive Plan Prospectus for a complete understanding of Havertys' equity award program.

This is a summary of the award.  The grant agreement and Plan Prospectus are the authoritative source for all questions on awards made under the Plan.EXHIBIT 10.2

 

PERFORMANCE CONTINGENT RESTRICTED STOCK UNITS AWARD NOTICE

«FIRST_NAME» «MIDDLE_NAME». «LAST_NAME»

«HOME_STREET»

«HOME_CITY», «HOME_PROVINCE»«HOME_POSTAL_CODE»

Pursuant to the terms and conditions of the Haverty Furniture Companies, Inc. 2014 Long-Term Incentive Plan (the "Plan"), you have been granted Performance Restricted Stock Units (PRSUs).  The general terms of this grant of PRSUs are outlined below.

	
Grant Date:

	
January 26, 2016

	
Performance Period:

	
January 1 – December 31, 2016

	
Target Number of PRSUs:

	
«number_awarded»

	
Performance Measure:

	
EBITDA

	
Vesting Date :

	
February 28, 2019

The actual number of PRSUs that can become vested is based on achieving the level of EBITDA during the Performance Period as noted below:

 

 

	
Performance Level*

	
% Target EBITDA

	
EBITDA ($ in millions)

	
% Target  Shares Earned

	
Outstanding

	
130%

120%

110%

	
$  XXX

$  XXX

$  XXX

	
160%

140%

120%

	
Target

	
100%

90%

	
$  XXX

$  XXX

	
100%

80%

	
Threshold

	
80%

	
$  XXX

	
60%

	
Below Threshold

	
< 80%

	
<$ XXX

	
0%

	
*

	
Straight-line interpolation will apply to performance levels between the ones shown.

Each PRSU is equivalent to one share of common stock upon vesting.

Until vested, the units represented by this award are not entitled to receive cash dividends and do not have the right to vote. This award will vest immediately upon a change in control, death or disability as defined in Section 2 of the Plan.  If you leave Havertys, other than in the case of death, disability or retirement, unvested awards are forfeited.  Except as the Compensation Committee may at any time otherwise provide in their sole discretion or as required to comply with applicable law, units not vested at retirement will vest on the Vesting Date as outlined in the grant agreement.  Retirement shall mean voluntary retirement from Havertys, on or after age 65, upon written notice from you to the Company that you are permanently retiring from the Company and the retail furniture industry.  Please consult the 2014 Long-Term Incentive Plan Prospectus for a complete understanding of Havertys' equity award program.

This is a summary of the award.  The grant agreement and Plan Prospectus are the authoritative source for all questions on awards made under the Plan.EXHIBIT 10.3

 

 

PERFORMANCE RESTRICTED STOCK UNIT AWARD NOTICE

Pursuant to the terms and conditions of the Haverty Furniture Companies, Inc. 2014 Long-Term Incentive Plan (the "Plan"), you have been granted Performance Restricted Stock Units (Performance RSUs).  The general terms of this grant of Performance RSUs are outlined below.

	
Grant Date:

	
January 26, 2016

	
Performance Period:

	
January 1, 2016 – December 31, 2019

	
Target Number of Performance RSUs:

	 
	
Performance Measure:

	
Net Sales

	
Vesting :

	
As Per Performance Schedule

The actual number of Performance RSUs that will vest is based on achieving the level of Net Sales during each of the four years in the Performance Period as follows:

	
Performance Period

	 	
Consolidated    Net Sales

	
Vesting %

	
Vesting Date

	
2016

	 	
> $ XXX M

	
25 %

	
May 8, 2017

	
2017

	 	
> $ XXX M

	
25 %

	
May 8, 2018

	
2018

	 	
> $ XXX M

	
25 %

	
May 8, 2019

	
2019

	 	
> $ XXX M

	
25 %

	
May 8, 2020

Each Performance RSU is equivalent to one share of common stock upon vesting.

Until vested, the units represented by this award are not entitled to receive cash dividends and do not have the right to vote. This award will vest immediately upon a change in control, death or disability as defined in Section 2 of the Plan.  If you leave Havertys, other than in the case of death or disability, unvested awards are forfeited.  Please consult the 2014 Long-Term Incentive Plan Prospectus for a complete understanding of Havertys' equity award program.

This is a summary of the award.  The grant agreement and Plan Prospectus are the authoritative source for all questions on awards made under the Plan.vggl_ex103.htm

Exhibit 10.3

 

Effective as of January 1, 2016

 

 

Mr. Mitchell J. Nelson

134 East 80th Street

New York, NY  10075

Dear Mr. Nelson,

Reference is made to that certain Employment Agreement dated as of September 8, 2011 (the “Employment Agreement”) by and between you and Viggle Inc. (the “Employer”), pursuant to which you are employed as Executive Vice President of the Employer.  Defined terms used in this Letter Agreement and not defined herein shall have the meanings ascribed to them in the Employment Agreement.

 

The purpose of this letter agreement (the “Letter Agreement”) is to amend the Employment Agreement effective immediately and redefine some of the terms and conditions of your continued employment with the Employer.  Accordingly, in consideration of the terms and provisions hereof, the Employment Agreement is hereby amended, effective immediately, as follows:

 

1.           Section 2(a) of the Employment Agreement shall be deleted and replaced with the following:

 

“2(a)           During Executive’s employment with the Employer, Executive is expected devote one-third (1/3) of Executive’s full-time best efforts and business time and attention to the business of the Employer, provided, however that Employer acknowledges and agrees that during the Term, Executive may devote the remaining portion of his business time to other business commitments, provided, however that: (i) such activities do not conflict with the business of the Employer or any of its subsidiaries, (ii) such activities do not interfere, directly or indirectly, with the performance of Executive’s obligations under this Employment Agreement, and (iii) such activities do not result in a breach by the Employer of any non-competition or any other similar type of agreement to which the Employer or any of its subsidiaries may be a party.  Executive understands that at all times he is employed as an exempt employee and therefore, he is not entitled to overtime wages for services performed on behalf of the Employer or its affiliates.”

 

2.           Section 6 of the Employment Agreement shall be amended to delete Section 6.1 and insert the following new Section 6.1:

 

“6.1           During the Term, the Employer shall pay to the Executive an initial annualized base salary (as such annual base salary, as it may be increased from time to time, the “Base Salary”), payable in equal installments during each Employment Year equal to One Hundred Fifty Thousand Dollars ($150,000), payable in accordance with the Employer’s ordinary payroll practices.”

 

 

 

  

  

  

 

All other terms and conditions of the Employment Agreement shall remain in full force and effect.

 

This Letter Agreement shall be governed by and construed under the laws of the State of New York (without regard to conflict of law provisions thereof).  No party hereto may assign its rights in whole or in part or delegate its obligations in whole or in part under this Letter Agreement without the written consent of the other party hereto.  Except as provided herein, the Employment Agreement shall remain in full force and effect.  The Employment Agreement, as amended by this Letter Agreement, constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior or contemporaneous oral or written understandings and agreements between the parties hereto with respect to the subject matter hereof. This Letter Agreement shall be binding upon and inure to the benefit of the respective parties hereto, their successors and permitted assigns (as well as their heirs and estates, if applicable).

 

If the foregoing correctly sets forth our understanding, please execute this Letter Agreement in the space provided below.

 

 

	 	 	
Sincerely,

	 
	 	 	 	 
	 	 	VIGGLE INC.	 
	 	 	 	 
	
 

	
By:     

	/s/ Tom McLean 	 
	 	Name:    	Tom McLean 	 
	 	Title:     	General Counsel 	 
	 	 	 	 

                                                

 

 

Accepted and agreed to this ____ day of January 2016:

 

 

/s/ Mitchell J. Nelson

Mitchell J. NelsonExhibit 10.1

 

OPTION CANCELLATION AND RELEASE AGREEMENT

 

This OPTION CANCELLATION
AND RELEASE AGREEMENT (this “Agreement”), dated as of January 26, 2016 (the “Cancellation
Date”), is entered into by and between InspireMD, Inc., a Delaware corporation (the “Company”)
and Sol J. Barer (the “Optionholder”), a member of the Board of Directors of the Company (the “Board”).

 

WHEREAS, the
Company previously sponsored and maintained the InspireMD, Inc. 2011 UMBRELLA Option Plan (the “2011 Plan”),
the 2006 Employee Stock Option Plan (the “Prior Israeli Appendix”), which is a sub-plan
to the 2011 Plan, and the 2011 U.S. Equity Incentive Plan (the “US Appendix”), which is a sub-plan to
the 2011 Plan (collectively, the 2011 Plan, the Prior Israeli Appendix, and the US Appendix being referred to herein as, the “Umbrella
Plan”);

 

WHEREAS, the
Company currently sponsors and maintains the InspireMD, Inc. 2013 Long-Term Incentive Plan (the “2013 LTIP”),
together with the 2013 Employee Stock Incentive Plan (the “2013 Israeli Appendix”), which is a sub-plan
to the 2013 LTIP (collectively, the 2013 LTIP and the 2013 Israeli Appendix being referred to herein as, the “Incentive
Plan”);

 

WHEREAS, pursuant
to the Umbrella Plan and the Incentive Plan, the Company previously granted to the Optionholder, stock options (“Stock
Options”) to purchase shares of common stock of the Company, par value $0.0001 per share (“Common Stock”);

 

WHEREAS, as
of the date hereof, certain of the Stock Options granted to the Optionholder are either not vested and/or exercisable for shares
of Common Stock having a fair market value that is less than the exercise price for such Stock Options (referred to herein as,
the “Underwater Options”);

 

WHEREAS, the
Company and the Optionholder desire to appoint a new director to the Board who brings substantial experience to the Board and value
to the Company and its stockholders, and to grant such new director with an equity award pursuant to the Incentive Plan;

 

WHEREAS, to
increase the number of shares available under the Umbrella Plan and the Incentive Plan in order to make such equity
award grant to the new director, the Company and the Optionholder desire to cancel and terminate certain of the Underwater Options,
so that on and after the Cancellation Date, the shares underlying such cancelled Underwater Options are available for issuance
pursuant to new equity awards.

 

NOW, THEREFORE,
in consideration of the mutual covenants contained herein and other good and valuable consideration, the sufficiency of which are
hereby acknowledged, the parties to this Agreement agree as follows:

 

CANCELLATION OF STOCK OPTIONS

 

1.1           Cancellation
of Certain Stock Options. In exchange for the consideration described in Section 1.2 below, the Optionholder hereby
agrees that the Stock Options identified and set forth on Exhibit A, attached hereto (the “Cancelled Options”),
shall be cancelled, terminated, and of no further force or effect, effective on the Cancellation Date, and neither the Company
nor the Optionholder shall have any further rights or obligations with respect to the Cancelled Options or with respect to any
shares of Common Stock of the Company that could have been purchased upon exercise of the Cancelled Options.

 

     

     

    

 

1.2           Payment.
In exchange for the Optionholder’s agreement to cancel and terminate the Cancelled Options and the release of claims set
forth in Section 1.3, the Company agrees to grant the Optionholder, one (1) share of Common Stock pursuant to the Incentive
Plan.

 

1.3           Release.
Effective as of the Cancellation Date, the Optionholder, for the Optionholder and the Optionholder’s successors and assigns
forever, does hereby unconditionally and irrevocably compromise, settle, remise, acquit and fully and forever release and discharge
the Company and its respective successors, assigns, parents, divisions, subsidiaries, and affiliates, and its present and former
officers, directors, employees and agents (collectively, the “Released Parties”) from any and all claims,
counterclaims, set-offs, debts, demands, choses in action, obligations, remedies, suits, damages and liabilities in connection
with any rights to acquire securities of the Company pursuant to the Cancelled Option and the shares of Common Stock of the Company
issuable thereunder (collectively, the “Releaser’s Claims”), whether now known or unknown or suspected
or claimed, whether arising under common law, in equity or under statute, which the Optionholder or the Optionholder’s successors
or assigns ever had, now have, or in the future may claim to have against the Released Parties and which may have arisen at any
time on or prior to the date hereof; provided that this Section 1.3 shall not apply to any of the obligations or liabilities
of the Released Parties arising under or in connection with this Agreement. The Optionholder covenants and agrees never to commence,
voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against the Released Parties any action or other proceeding
based on any of the released Releaser’s Claims which may have arisen at any time on or prior to the date hereof.

 

1.4           Further
Assurances. Each party to this Agreement agrees that it will perform all such further acts and execute and deliver all such
further documents as may be reasonably required in connection with the consummation of the transactions contemplated hereby in
accordance with the terms of this Agreement.

 

1.5           Representations
and Warranties. The Optionholder hereby represents and warrants to the Company that: (a) the Optionholder has full power and
authority to enter into and perform this Agreement and to carry out the transactions contemplated hereby; there are no restrictions
on the cancellation and termination of the Cancelled Options; and (c) this Agreement constitutes the legal, valid, and binding
obligation of the Optionholder, enforceable against the Optionholder in accordance with its terms.

 

MISCELLANEOUS

 

2.1           Headings.
The headings that are used in this Agreement are used for reference and convenience purposes only and do not constitute substantive
matters to be considered in construing the terms and provisions of this Agreement.

 

2.2           Parties
Bound. The terms, provisions, representations, warranties, covenants, and agreements that are contained in this Agreement shall
apply to, be binding upon, and inure to the benefit of the parties and their respective heirs, executors, administrators, legal
representatives, and permitted successors and assigns.

 

2.3           Execution.
This Agreement may be executed in two or more counterparts (including facsimile or portable document (“.pdf”) counterparts),
all of which taken together shall constitute one instrument. The exchange of copies of this Agreement and of signature pages by
facsimile or .pdf transmission shall constitute effective execution and delivery of this Agreement as to the parties and may be
used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted by facsimile or .pdf shall be deemed
to be their original signatures for any purpose whatsoever.

 

    	 	- 2 - 	 

     

    

 

2.4           Entire
Agreement. This Agreement contains the entire understanding of the parties to this Agreement with respect to the subject matter
contained in this Agreement. This Agreement supersedes all prior agreements and understandings among the parties with respect to
such subject matter.

 

2.5           Law
Governing. This Agreement shall be governed by and construed in accordance with the substantive laws of the State of Delaware,
without regard to its principles of conflict of laws.

 

2.6           Jurisdiction
and Venue. Any judicial proceedings brought by or against any party on any dispute arising out of this Agreement or any matter
related thereto shall be brought in the state or federal courts of the State of Delaware, and, by execution and delivery of this
Agreement, each of the parties accepts for itself the exclusive jurisdiction and venue of the aforesaid courts as trial courts,
and irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement after exhaustion of all appeals
taken (or by the appropriate appellate court if such appellate court renders judgment).

 

2.7           Notice.
Any notice required by the terms of this Agreement shall be given in writing and shall be deemed effective upon personal delivery
or upon deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid. Notice shall
be addressed to the Company at its principal executive office and to the Optionholder at the address that he most recently provided
to the Company.

 

* * * * * * *

 

[Remainder of page intentionally left
blank

Signature Page to Follow.]

 

    	 	- 3 - 	 

     

    

 

IN WITNESS WHEREOF,
the Company has caused this Agreement to be executed by its duly authorized officer, and the Optionholder, to evidence his or her
consent and approval of all the terms hereof, has duly executed this Agreement as of the date above.

 

	 	INSPIREMD, INC.
	 	 	 
	 	By:	/s/ Craig Shore
	 	Name:	Craig Shore
	 	Title:	CFO

 

	 	OPTIONHOLDER 
	 	 	 
	 	/s/ Sol J. Barer
	 	Name:	Sol J. Barer
	 	 	 
	 	Address:	# ##### ####
	 	 	#######, ## #####

 

Signature Page to Option Cancellation
and Release Agreement

 

     

     

    

 

Exhibit A

 

Cancelled Options

 

	Date of Grant	 	Name of Plan	 	Number of Stock Options
 Granted	 	 	Number of Stock Options
 Cancelled	 
	July 11, 2011	 	2011 Plan	 	 	12,500	 	 	 	12,500	 
	June 18, 2012	 	2011 Plan	 	 	1,250	 	 	 	1,250	 
	May 9, 2013	 	2011 Plan	 	 	10,000	 	 	 	10,000	 
	January 29, 2014	 	2013 LTIP	 	 	8,500	 	 	 	8,500	 
	January 5, 2015	 	2013 LTIP	 	 	4,162	 	 	 	4,162	 
	January 26, 2015	 	2013 LTIP	 	 	9,161	 	 	 	9,161	 

 

Exhibit A to Option Cancellation and
Release Agreement

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