Document:

FormofDirectorRestrictedStockAgreement_form

RESTRICTED STOCK AGREEMENT

STATE BANK FINANCIAL CORPORATION 
2011 OMNIBUS EQUITY COMPENSATION PLAN
GRANTEE:  
NO. OF SHARES: 
GRANT DATE: 

This Restricted Stock Agreement (the “Agreement”) evidences the grant to the Grantee named above (“you”) of the number of restricted shares set forth above (each, an “Award Share,” and collectively, the “Award Shares”) of the $0.01 par value common stock of State Bank Financial Corporation, a Georgia corporation (the “Company”) as of the date of grant set forth above (the “Grant Date”), pursuant to the State Bank Financial Corporation 2011 Omnibus Equity Compensation Plan (the “Plan”) and conditioned upon your agreement to the terms described below.  All of the provisions of the Plan are expressly incorporated into this Agreement.

1.Terminology.  Capitalized words used in this Agreement and not defined herein shall have the meaning set forth in the Plan.

2.Vesting.  

(a)As of the Grant Date, all Award Shares are unvested.  All Award Shares shall become vested on the date of the Company’s 2014 annual shareholders’ meeting, unless vested earlier in accordance with this Agreement or as directed by the Committee. 

(b)Notwithstanding anything herein to the contrary, all Award Shares shall become vested concurrent with the consummation of a Change in Control as defined in Section 2.1(f) of the Plan. 

3.Termination of Employment.  If your service as a member of the board of directors of the   Company (including any Affiliate of the Company) ceases for any reason, all Award Shares that are not then vested will be immediately and automatically forfeited  and cancelled upon the date your service as a director terminates.  Notwithstanding the preceding sentence, (a) if your service as a director ends on account of your death; or (b) if your service as a director ends on account of your Permanent Disability, you shall vest in the number of Award Shares determined by dividing the total number of Award Shares by 12, and then multiplying that result by the number of months you served as a director between May 22, 2013 and the date your service as a director terminated (with any partial month of service rounded up).

4.Restrictions on Transfer. 

(a)Until an Award Share becomes vested, it may not be assigned, transferred, pledged, hypothecated or disposed of in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process.

(b)The Company shall not be required to (i) transfer on its books any Award Shares that have been sold or transferred in contravention of this Agreement or (ii) treat as the owner of Award Shares, or otherwise accord voting, dividend or liquidation rights to, any transferee to whom Award Shares have been transferred in contravention of this Agreement.
(c)Upon vesting, an Award Share shall be transferred to you without restrictions on further transfer in accordance with Section 5.

5.Stock Certificates.  You will be reflected as the owner of record of the Award Shares as of the Grant Date on the Company’s books.  The Company, or its transfer agent, will hold the share certificates for safekeeping, or otherwise retain the Award Shares in uncertificated book entry form, until all the Award Shares become vested or have otherwise been forfeited in accordance with Section 3.  Once all of the Award Shares have vested or have otherwise been forfeited in accordance with Section 3, the Company, or its transfer agent, will deliver a stock certificate to you for the outstanding vested Award Shares.  Until the Award Shares become vested, any share certificates representing such shares will include a legend to the effect that you may not sell, assign, transfer, pledge, or hypothecate the Award Shares pursuant to this Agreement and the Plan.  At the execution of this Agreement, you shall deliver to the Company a stock power, endorsed in blank, with respect to any Award Shares that may be forfeited pursuant to this Agreement.   

6.Taxes: Election and Withholding.  

(a)  You hereby agree to make adequate provision for foreign, federal, state and local taxes required by law to be withheld, if any, which arise in connection with the grant or vesting of the Award Shares.  You may elect, or the Company shall have the right, to deduct from any compensation or any other payment of any kind (including withholding the issuance of shares of Stock) due you the amount of any federal, state, local or foreign taxes required by law to be withheld as a result of the grant or vesting of the Award Shares in whole or in part; provided, however, that the value of the shares of Stock withheld may not exceed the statutory minimum withholding amount required by law.  The Company may report any income to the Internal Revenue Service and any other applicable governmental entity, even if you refuse to make any tax or withholding payments.  The value of Award Shares deducted is based on the Fair Market Value of the shares of Stock on the applicable date of vesting.

(b)  You hereby acknowledge that you have been advised by the Company to seek independent tax advice from your own advisors regarding the availability and advisability of making an election under Section 83(b) of the Code, and that any such election, if made, must be made within 30 days of the Grant Date.  If you make an election under 83(b) of the Code, you agree to promptly deliver a copy of such election to the Company.  You expressly acknowledge that you are solely responsible for filing any such Section 83(b) election with the appropriate governmental authorities, irrespective of the fact that such election is also delivered to the Company.  You may not rely on the Company or any of its officers, directors or employees for tax or legal advice regarding this award.  

7.Adjustments for Corporate Transactions and Other Events.

(a)    Stock Dividend, Stock Split, Reverse Stock Split and Other Changes.  Upon a stock dividend of, or stock split or reverse stock split affecting, the Stock, the number of unvested Award Shares shall, without further action of the Committee or Administrative Agent, be adjusted to reflect such event.  The Award Shares shall be adjusted for other changes in the number or kind of outstanding Stock by the Committee in accordance with Sections 4 and/or 12 of the Plan.  The Administrative Agent may make adjustments, in its discretion, to address the treatment of fractional shares with respect to the Award Shares as a result of the stock dividend, stock split or reverse stock split.  Adjustments under this Section 7 will be made by the Committee, whose determination as to what adjustments, if any, will be made and the extent thereof will be final, binding and conclusive.  No fractional Award Shares will result from any such adjustments.

(b)Binding Nature of Agreement.  The terms and conditions of this Agreement shall apply with equal force to any additional and/or substitute securities received by you in exchange for, or by virtue of your ownership of, the Award Shares, whether as a result of any spin-off, stock split-up, stock dividend, stock distribution, other reclassification of the Stock of the Company, or similar event, except as otherwise determined by the Committee.  If the Award Shares are converted into or exchanged for, or shareholders of the Company receive by reason of any distribution in total or partial liquidation or pursuant to any merger of the Company or acquisition of its assets, securities of another entity, or other property (including cash), then the rights of the Company under this Agreement shall inure to the benefit of the Company’s successor, and this Agreement shall apply to the securities or other property received upon such conversion, exchange or distribution in the same manner and to the same extent as the Award Shares and such securities or other property shall be considered “Award Shares” for all purposes under this Agreement.

(c)Required Forfeitures and Clawbacks  Each Award Share is conditioned on your forfeiting, waiving, or repaying to the Company any amount or Award Share as may be required in compliance with Section 304 of the Sarbanes-Oxley Act, Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and the Company’s clawback compliance policy as in effect from time to time and as directed by the Committee.  You agree to execute any documents to effect any required forfeiture, waiver or clawback.  You agree to assign any Award Shares to the Company or pay any cash amount in lieu thereof as may be required for such compliance.

(d)Non-Guarantee of Employment or Service Relationship.  Nothing in the Plan or this Agreement shall alter your at-will or other employment status or other service relationship with the Company, nor be construed as a contract of employment or service relationship between the Company and you, or as a contractual right of you to continue in the employ of, or in a service relationship with, the Company for any period of time, or as a limitation of the right of the Company to discharge you at any time with or without cause or notice and whether or not such discharge results in the forfeiture of any Award Shares or any other adverse effect on your interests under the Plan.

(e)Rights as Shareholder.  Except as otherwise provided in this Agreement with respect to the Award Shares which have not vested, you are entitled to all rights of a shareholder of the Company, including the right to vote the Award Shares (subject to any applicable Voting Agreement or similar arrangement to which you may be a party) and receive dividends and/or other distributions declared on the Award Shares.

(f)The Company’s Rights.  The existence of the Award Shares shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or other stocks with preference ahead of or convertible into, or otherwise affecting the Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company’s assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

(g)Notices.  All notices and other communications made or given pursuant to this Agreement shall be in writing and shall be sufficiently made or given if hand delivered, mailed by certified mail, transmitted by facsimile or email, addressed to you at the address contained in the records of the Company, or addressed to the Administrative Agent, care of the Company for the attention of its Corporate Secretary at its principal executive office.

(h)Entire Agreement.  This Agreement, together with the Plan, contains the entire agreement between the parties with respect to the Award Shares granted hereunder.  Any oral or written agreements, representations, warranties, written inducements, or other communications made prior to the execution of this Agreement with respect to the Award Shares granted hereunder shall be void and ineffective for all purposes.

(i)Severability.  If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith.  In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms.

(j)Amendment.  This Agreement may be amended from time to time by the Committee in its discretion; provided, however, that this Agreement may not be modified in a manner that would have an adverse effect on the Award Shares as determined in the discretion of the Committee, except as provided in the Plan or in a written document signed by each of the parties hereto.

(k)Conformity with Plan.  This Agreement is intended to conform in all respects with, and is subject to all applicable provisions of, the Plan.  Inconsistencies between this Agreement and the Plan shall be resolved in accordance with the terms of this Agreement.  A copy of the Plan has been provided to you.

(l)Governing Law. The validity, construction and effect of this Agreement, and of any determinations or decisions made by the Committee or the Administrative Agent relating to this Agreement, and the rights of any and all persons having or claiming to have any interest under this Agreement, shall be determined exclusively in accordance with the laws of the State of Georgia, without regard to its provisions concerning the applicability of laws of other jurisdictions.  

(m)Headings.  The headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.

(n)Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer.
STATE BANK FINANCIAL CORPORATION
By:                          
Name:                         
Title:                         

Date:                         

The undersigned hereby acknowledges that he/she has carefully read this Agreement and agrees to be bound by all of the provisions set forth herein.
GRANTEE
                                
Name: 

Date:                         

Address:                     
                      

Facsimile:                     

Enclosure:  State Bank Financial Corporation 
                  2011 Omnibus Equity Compensation Plan

1Exh 10.1 - Amendment 16 (Q2-2013)

CONFIDENTIAL TREATMENT REQUESTED FOR PORTIONS OF THIS DOCUMENT. PORTIONS FOR WHICH CONFIDENTIAL TREATMENT IS REQUESTED HAVE BEEN MARKED WITH THREE ASTERISKS [***] AND A FOOTNOTE INDICATING “CONFIDENTIAL TREATMENT REQUESTED”. MATERIAL OMITTED HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
AMENDMENT #16 TO MASTER SERVICES AGREEMENT

THIS AMENDMENT No. 16 (the “Amendment”) to Master Services Agreement is entered into May 15, 2013 (the “Amendment Effective Date”) by and between Hughes Network Systems, LLC (“HNS”) located at 11717 Exploration Lane, Germantown MD 20876, and Row 44, Inc. (“Row 44” or “Customer”) located at 4353 Park Terrace Drive Westlake Village, CA 91361

WHEREAS, Row 44 and HNS entered into a Master Services Agreement on or about December 28, 2007 (hereafter referred to as the “MSA”) which agreement has been heretofore amended on a number of prior occasions; and 

WHEREAS, Row 44 now desires to purchase and HNS desires to sell, certain additional satellite capacity in North America; and

WHEREAS, the parties now desire to amend the terms of the MSA to reduced the amounts paid by Row 44 for currently purchased capacity for North American satellites and to cover the provision and purchase of the additional satellite capacity herein described as well as certain ancillary services.
. 
NOW THEREFORE, for and in consideration of the mutual covenants and promises contained herein, and other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, Row 44 and HNS hereby agree as follows:

1.        CURRENT NORTH AMERICAN CAPACITY

The table below sets forth the amount of the satellite capacity for the satellites below, along with the applicable price for the current North American capacity for the period between April 1, 2013 and December 31, 2014.  The prices below amend and replace the pricing 

	
								
	

Satellite
	

MHz
	Price/MHz ***
	Total Price/Mo. ***
	Price/ MHz 
***
	Total Price/Mo. ***
	

Price/MHz ***
	Total Price/Mo. ***

	***
	***
	***
	***
	***
	***
	***
	***

	***
	***
	***
	***
	***
	***
	***
	***

	***
	***
	***
	***
	***
	***
	***
	***

	Total/Month
	 
	 
	***
	 
	***
	 
	***

The first invoice issued by HNS after the Amendment Effective Date shall reflect the above discounts commencing as of ***, and Row 44 shall receive a credit on such invoice for any amounts paid in excess of the foregoing amounts. 

***  Confidential treatment requested.

PAGE 1 OF 1

2.        ADDITIONAL CAPACITY

Commencing April 15, 2013, the amount of satellite capacity to be provided by HNS on the *** will be *** by *** and then *** on *** by another *** for a new total of *** on this Satellite. In addition, commencing ***, the amount of satellite capacity to be provided by HNS on the *** satellite will also be *** by *** and then *** on *** by *** for a new total of *** on this Satellite.  The price per MHz for this capacity is set forth in the table below. 

	
						
	Satellite
	Intended Use for Capacity
	Start Date
End Date
	B/W  (MHz)
	Price per MHz per month
	Total Price per Month

	***
	***
	***
	***
	***
	***

	***
	***
	***
	***
	***
	***

	***
	***
	***
	***
	***
	***

	***
	***
	***
	***
	***
	***

	***
	***
	***
	***
	***
	***

	***
	***
	***
	***
	***
	***

	***
	***
	***
	***
	***
	***

	Total ***
	 
	 
	 
	 
	***

3.    CHANGE IN STATUS

The parties hereby acknowledge that the *** capacity to be provided on *** will be subject to a special preemption right as described below:

The additional capacity on *** of the *** Satellite ordered hereby will be subject to “Transponder Protected with Special Preemption Provision” as herein described.  Consequently, this Transponder may be preempted to restore Transponders *** on the *** Satellite (or the *** satellite when the *** Satellite replaces the *** Satellite ) upon which service is provided by the satellite operator to a specific third party.  Immediately upon notice from the satellite operator stating that said *** is being preempted, Customer shall cease transmitting to such Transponder. If Customer fails to vacate such Transponder immediately after being given such notice, the satellite operator may, without further notice, take appropriate action to vacate Customer’s signal.  

In addition, HNS agrees that should another transponder on the *** Satellite become available during the period that the Special Preemption Provision remains in place, HNS will so notify Customer and will give the Customer the opportunity to move from *** to such alternative transponder on the *** Satellite.

4.    NOC OPERATIONS, MAINTENANCE AND ANCILLARY SERVICES

The NOC Operations and Maintenance charge associated with the current capacity in place as of *** shall be *** per month commencing ***.  The NOC Operations and Maintenance charge associated with this *** capacity will be *** per month commencing ***.
Rack hosting and internet access charges of *** and *** will apply for any additional rack space or internet access associated with this capacity expansion.

***  Confidential treatment requested. 

PAGE 2 OF 2

The first invoice issued by HNS after the Amendment Effective Date shall reflect the above discounts commencing as of ***, and Row 44 shall receive a credit on such invoice for any amounts paid in excess of the foregoing amounts. 

5.    OTHER TERMS

Except as amended herein, all terms and conditions of the MSA as amended, with the exception of any provisions dealing with exclusivity (which have been or are to be separately addressed in Amendment No. 14 to the Agreement), shall remain in full force and effect. 

IN WITNESS WHEREOF, the Parties hereto have caused this Amendment No. 16 to be executed as of the Amendment Effective Date by and through their duly authorized representatives.

Hughes Network Systems, LLC            Row 44, Inc.

By:    /s/ Philip K. O’Brien                By:    /s/ John LaValle        

Title:    Philip K. O’Brien                Title:    CEO                

Date:        V.P. Legal, 5/16/13            Date:        15 May ‘13__________

***  Confidential treatment requested. 

PAGE 3 OF 3

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