Document:

Exhibit 4.1

 

THE BANK OF NEW YORK MELLON

NEW YORK’S FIRST BANK-FOUNDED 1784 BY ALEXANDER HAMILTON

 

 

2 HANSON PLACE, 12TH FLOOR, BROOKLYN,
N.Y. 11217

 

 

 

August 18, 2016

 

Hennion & Walsh, Inc.

2001 Route 46, Waterview Plaza

Parsippany, New Jersey 07054

 

Smart Trust 260

 

Dear Sirs:

The Bank of New York
Mellon is acting as trustee for the series of Smart Trust set forth above (the “Trust”). We enclosed a list
of the Securities to be deposited in the Trust on the date hereof. The prices indicated therein reflect
our evaluation of such Securities as of close of business on August 17, 2016, in accordance with the valuation method set forth
in the Standard Terms and Conditions of Trust and Trust Agreement. We consent to the reference to The Bank of New York Mellon as
the party performing the evaluations of the Trust Securities in the Registration Statement (No. 333-211891) filed with the Securities
and Exchange Commission with respect to the registration of the sale of the Trust Units and to the filing of this consent as an
exhibit thereto.

 

	 	Very truly yours,
	 	 
	 	/s/ GERARDO CIPRIANO
	 	Gerardo Cipriano
	 	Vice PresidentExhibit 4.3

 

Consent of Independent Registered
Public Accounting Firm

We consent to the
reference made to our firm under the caption “Independent Registered Public Accounting Firm” in Part B of the Prospectus
and to the use of our report dated August 18, 2016, in this Registration Statement (Form S-6 No. 333-211891) of Smart Trust 260,
comprising Smart Trust, Rising Interest Rates Hedge Trust, Series 7.

 

/s/ Grant
Thornton LLP

 

Chicago, Illinois

August 18, 2016EXHIBIT 10.35

 

SECOND AMENDMENT TO

SALARY CONTINUATION AGREEMENT

 

WHEREAS, the Board of
Directors determined it was in the best interests of Golden Enterprises, Inc. (the “CORPORATION”) to enter into a Salary
Continuation Plan (a non-qualified deferred compensation plan) for Mark W. McCutcheon (“MCCUTCHEON”) in order to encourage
MCCUTCHEON to remain employed with the CORPORATION; and

 

WHEREAS, John S. Stein,
as Chairman, and MCCUTCHEON executed the Mark McCutcheon Salary Continuation Plan and the Mark McCutcheon Salary Continuation Trust
on May 15, 2002 (the “Original Salary Continuation Plan”); and

 

WHEREAS, Section 409A
of the Internal Revenue Code (“Section 409A”) was enacted subsequent to the adoption of the Original Salary Continuation
Plan, and on December 30, 2008, the CORPORATION and MCCUTCHEON entered into an Amendment to Salary Continuation Plan (the “First
Amendment”; and together with the Original Salary Continuation Plan, the “Salary Continuation Plan”) to bring
the Salary Continuation Plan into documentary compliance with Section 409A; and

 

WHEREAS, it is the intent
and desire of the parties hereto to further amend the Salary Continuation Plan to clarify the effect of a Change of Control, as
defined in the Salary Continuation Plan and to delete (i) Section 5 of the Salary Continuation Plan and (ii) the phrases “,
adjusted pursuant to Section 5 hereof” and “(or such adjusted monthly amount)”, which phrases appear in Sections
2, 3 and 4 of the Salary Continuation Plan.

 

NOW, THEREFORE, the CORPORATION
and MCCUTCHEON hereby agree to the following amendments to the Salary Continuation Plan:

 

1.          The
following shall be added to the end of the second sentence of Section 11 of the Salary Continuation Plan:

 

“, and (i) MCCUTCHEON’s continued
employment with the CORPORATION shall no longer be a condition to his or his beneficiary’s receipt of death, disability and/or
retirement benefits pursuant to this Plan or to the CORPORATION’s obligation to make contributions to the Trust pursuant
to Section 6, (ii) the second sentence of Section 9 shall be of no further force and effect, and (iii) the CORPORATION shall pay
to MCCUTCHEON the amounts set forth in Sections 2, 3 and 4, without regard to MCCUTCHEON’s status as an employee of the CORPORATION.”

 

     

     

    

 

2.          Section
5 of the Salary Continuation Plan is deleted in its entirety and the phrases “, adjusted pursuant to Section 5 hereof”
and “(or such adjusted monthly amount)” are deleted in their entirety.

 

3.          Exhibit
1 titled “Example of Yearly Adjustment” is hereby deleted in its entirety.

 

4.          All
of the terms and provisions of the Salary Continuation Plan shall, as previously amended and as amended and modified hereby remain
in full force and effect. On and after the date hereof, each reference in the Salary Continuation Plan to “this Plan”,
“hereunder”, “hereof” or words of like import referring to the Salary Continuation Plan shall mean and
be a reference to the Amended Salary Continuation Plan. Except as expressly provided herein, this Amendment shall not, by implication
or otherwise, limit, impair, constitute a waiver of or otherwise affect any rights or remedies of the parties under the Salary
Continuation Plan, nor alter, modify, amend or in any way affect any of the obligations or covenants contained in the Salary Continuation
Plan, all of which are ratified and confirmed in all respects and shall continue in full force and effect.

 

5.          This Amendment
shall be retroactive to and effective as of May 15, 2002.

 

Dated this the 14th
day of       July      , 2016.

 

	 	
        BY ORDER OF THE BOARD OF DIRECTORS

        GOLDEN ENTERPRISES, INC.
	 
	 	 	 	 
	 	By:	/s/ Mark W. McCutcheon	 
	 	 	Mark W. McCutcheon	 
	 	 	Chairman	 
	 	 	 	 
	 	 	/s/ Mark W. McCutcheon	 
	 	MARK W. MCCUTCHEON – EMPLOYEEEXHIBIT 10.36

 

THIRD AMENDMENT TO

SALARY CONTINUATION AGREEMENT

 

WHEREAS, the Board of
Directors determined it was in the best interests of Golden Enterprises, Inc. (the “CORPORATION”) to enter into a Salary
Continuation Plan (a non-qualified deferred compensation plan) for Mark W. McCutcheon (“MCCUTCHEON”) in order to encourage
MCCUTCHEON to remain employed with the CORPORATION; and

 

WHEREAS, John S. Stein,
as Chairman, and MCCUTCHEON executed the Mark McCutcheon Salary Continuation Plan and the Mark McCutcheon Salary Continuation Trust
on May 15, 2002 (the “Original Salary Continuation Plan”); and

 

WHEREAS, Section 409A
of the Internal Revenue Code (“Section 409A”) was enacted subsequent to the adoption of the Original Salary Continuation
Plan, and on December 30, 2008, the CORPORATION and MCCUTCHEON entered into an Amendment to Salary Continuation Plan (the “First
Amendment”) to bring the Salary Continuation Plan into documentary compliance with Section 409A; and

 

WHEREAS, on July 14,
2016, the CORPORATION and MCCUTCHEON entered into a Second Amendment to Salary Continuation Plan (the “Second Amendment”;
and together with the Original Salary Continuation Plan and the First Amendment, the “Salary Continuation Plan”) to
vest MCCUTCHEON’s benefits under the Plan upon a Change of Control and to eliminate the yearly adjustment for increases in
Price Index (as defined in the Salary Continuation Plan); and

 

WHEREAS, it is the intent
and desire of the parties hereto to further amend the Salary Continuation Plan to eliminate the possibility of MCCUTCHEON being
the recipient of an “excess parachute payment” within the meaning of Section 280G(b) of the Internal Revenue Code and
to clarify the date of payment.

 

NOW, THEREFORE, the CORPORATION
and MCCUTCHEON hereby agree to the following amendments to the Salary Continuation Plan:

 

     

     

    

 

The following shall be added
as a new Section 13 of the Salary Continuation Plan:

 

“13.        In
the event that payment of any amount under this Plan, when aggregated with the present value of all other payments made or promised
to MCCUTCHEON that are “parachute payments” within the meaning of Internal Revenue Code of 1986 (“Code”)
Section 280G (collectively, “Parachute Payments”), would cause MCCUTCHEON to be the recipient of an “excess parachute
payment” within the meaning of Code Section 280G(b), the amount of the payments to be made to MCCUTCHEON pursuant to this
Plan shall be reduced so that the aggregate value of all such payments equals 299% of MCCUTCHEON’s “base amount”
within the meaning of Code Section 280G. In the event elimination of the benefit established by this Plan is not sufficient to
reduce MCCUTCHEON’s aggregate Parachute Payments to such amount, the CORPORATION shall, in its sole and absolute discretion,
determine a manner in which it shall further reduce the present value of other Parachute Payments due to MCCUTCHEON.”

 

The following language shall
be added to the end of Section 11 of the Salary Continuation Plan:

 

“Notwithstanding
anything in this Plan or any Amendment to this Plan to the contrary, no payment due MCCUTCHEON under this Plan shall begin until
the earliest to occur of (x) the 31st of May which next follows MCCUTCHEON’s 65th birthday; (y) the
date of MCCUTCHEON’s death; or (z) the date on which MCCUTCHEON becomes totally disabled, as defined in the Plan.”

 

All of the
terms and provisions of the Salary Continuation Plan shall, as amended and modified hereby (together, the “Amended Salary
Continuation Plan”), remain in full force and effect. On and after the date hereof, each reference in the Salary Continuation
Plan to “this Plan”, “hereunder”, “hereof” or words of like import referring to the Salary
Continuation Plan shall mean and be a reference to the Amended Salary Continuation Plan. Except as expressly provided herein,
this Amendment shall not, by implication or otherwise, limit, impair, constitute a waiver of or otherwise affect any rights or
remedies of the parties under the Salary Continuation Plan, nor alter, modify, amend or in any way affect any of the obligations
or covenants contained in the Salary Continuation Plan, all of which are ratified and confirmed in all respects and shall continue
in full force and effect.

 

Dated this the 16th
day of August, 2016.

 

     

     

    

 

	 	BY ORDER OF THE BOARD OF DIRECTORS	 
	 	GOLDEN ENTERPRISES, INC.	 
	 	 	 	 
	 	By:	/s/ Mark W. McCutcheon	 
	 	 	Mark W. McCutcheon	 
	 	 	Chairman	 
	 	 	 	 
	 	 	/s/ Mark W. McCutcheon	 
	 	MARK W. MCCUTCHEON – EMPLOYEE

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