Document:

Deferred Share Unit Agreement - Jonathan Samuels

  
 Exhibit 10.13

 TRIANGLE PETROLEUM CORPORATION 
 DEFERRED SHARE UNIT AGREEMENT 
  

	1.	Agreement and Grant 

  

	 	1.1	This Deferred Share Unit Agreement (this “Agreement”) is entered into between Triangle Petroleum Corporation (the “Corporation”) and Jonathan
Samuels (the “Executive”). 

  

	 	1.2	Effective the date hereof, the Corporation hereby grants 600,000 Deferred Share Units to the Executive on and subject to the terms set out in this Agreement.

  

	 	1.3	Following the restructuring of the Corporation’s Board of Directors and management team in 2009, the Corporation has granted the DSUs to the Executive in order to
incentivize and retain the Executive and to promote a greater alignment of interests between the Executive and the shareholders of the Corporation. 

  

	2.	Definitions 

  

	 	2.1	“Board of Directors” or “Board” means those individuals who serve from time to time as the directors of the Corporation. 

 

	 	2.2	“Code” means the United States Internal Revenue Code of 1986, as amended. 

 

	 	2.3	“Common Share” means share of common stock in the capital of the Corporation. 

 

	 	2.4	“Deferred Share Unit” or “DSU” means a unit credited by the Corporation to the Executive by way of a bookkeeping entry in the books of the
Corporation, as determined by the Board, pursuant to this Agreement, the value of which at any particular date shall be the Fair Market Value at that date. 

 

	 	2.5	“Fair Market Value” means, with respect to any particular date, the simple average closing price of the Common Shares as traded on the stock exchange on which
the highest aggregate volume of Common Shares have traded on each of the five trading days immediately preceding the particular date. 

  

	 	2.6	“U.S. Taxpayer” means a citizen or resident of the United States for United States federal income tax purposes. 

 

	3.	Vesting and Account 

  

	 	3.1	The DSUs referred to in Section 1 shall vest and be automatically exchanged on a one-for-one basis, for Common Shares from the treasury of the Corporation, equal
to the number of DSUs referred to in this Agreement, on February 2, 2011 (the “Vesting Date”). 

  

	 	3.2	The Corporation shall maintain in its books an account (the “DSU Account”) for the Executive, recording at all times, the number of DSUs standing to the
credit of the Executive. Upon the vesting of the DSUs and exchange for Common Shares as contemplated by the Agreement in satisfaction of the DSUs credited to the Executive, the DSUs shall be cancelled. 

 

	 	3.3	In the event of any stock dividend, stock split, combination or exchange of Common Shares, merger, consolidation, spin-off or other distribution (other than normal cash
dividends) of the Corporation’s assets to shareholders of the Corporation, or any other change affecting the Common Shares, such proportionate adjustments, if any, as the Board, in their discretion, may deem appropriate to reflect such change,
shall be made with respect to the number of DSUs outstanding under this Agreement. 

  

	4.	Termination or Death of the Executive 

  

	 	4.1	Where the Executive’s employment with the Corporation is terminated due to retirement, or voluntary resignation, or where the Executive’s employment is
terminated by the Corporation, the DSUs in the Executive’s DSU Account will be cancelled, effective immediately. 

  

	 	4.2	Where the Executive has died, the estate of the Executive may elect in writing to have the value of the DSUs in the Executive’s DSU Account become payable on
February 2, 2011. 

  

	 	4.3	In the event that the estate of the deceased Executive does not make an election in accordance with Section 4.2, the DSUs in the deceased Executive’s DSU
Account will be cancelled on February 2, 2011. 

  

	 	4.4	For purposes of determining how much is payable to the Executive’s estate in accordance with Section 4.2, the DSUs in the Executive’s DSU Account will be
valued by multiplying the number of such DSUs by the average of the closing prices of a Common Share on the TXS Venture Exchange on the five consecutive trading days ending with the trading day immediately prior to the date the DSUs become payable.

  

	 	4.5	If an election pursuant to Section 4.2 is made, the value of the deceased Executive’s DSUs in the DSU Account will be paid to the Executive’s estate, in
the form of Common Shares issued from the treasury of the Corporation, net of applicable withholdings, within 15 days of the date such amount becomes payable. 

  
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	5.	Acknowledgement 

 The
Executive confirms and acknowledges that: 
  

	 	5.1	He has received and reviewed a copy of the terms of this Agreement and agrees to be bound by it. 

 

	 	5.2	Nothing herein contained shall be deemed to give him the right to be retained as an employee of the Corporation. 

 

	 	5.3	Under no circumstances shall the DSUs be considered Common Shares nor shall they entitle the Executive or any other person to exercise voting rights or have any other
rights (including, without limitations, dividend entitlement or rights on liquidation) attaching to the ownership of Common Shares, nor shall the Executive or any other person be considered the owner of Common Shares or any interest therein by
virtue of this Agreement. 

  

	 	5.4	He will not be able to cause the Corporation to redeem DSUs granted under this Agreement. 

 

	 	5.5	The value of DSUs is based on the value of the Common Shares of the Corporation and therefore is not guaranteed. 

 

	6.	Assignment 

  

	 	6.1	DSUs are not assignable or transferable, except as contemplated by this Agreement. 

 

	7.	Administration 

  

	 	7.1	This Agreement shall be administered by the Board. 

  

	 	7.2	This Agreement may be amended or terminated at any time by the Board, except as to rights already accrued to the Executive hereunder. 

 

	 	7.3	The Corporation will be responsible for all costs relating to the administration of this Agreement. 

 

	 	7.4	The total authorized number of Common Shares which may be issued from treasury under this Agreement is 600,000, or such other number as may be approved by the Board
and, if required, the shareholders of the Corporation. 

  
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	8.	Canadian and U.S. Tax 

  

	 	8.1	This Agreement shall continuously meet the requirements of paragraph 6801(d) of the regulations under the Income Tax Act (Canada) or any successor to such
provision and the requirements of Section 409A of the Code, as they may apply to the Executive in the event he is a U.S. Taxpayer. If any provision of this Agreement contravenes any regulations or U.S. Treasury guidance promulgated under
Section 409A of the Code or would cause the DSUs to be subject to the interest and penalties under Section 409A of the Code, such provision of this Agreement shall, to the extent that it applies to the Executive, be modified to maintain,
to the maximum extent practicable, the original intent of the applicable provision without violating the provisions of Section 409A of the Code. 

  

	9.	Governing Law 

  

	 	9.1	This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada. 

 

	10.	Compliance with Law 

  

	 	10.1	Any obligation of the Corporation pursuant to the terms of this Agreement is subject to compliance with all applicable laws. The Executive shall comply with all
applicable laws and furnish the Corporation with any and all information and undertakings as may be required to ensure compliance therewith. 

  

	11.	Withholding 

  

	 	11.1	The Corporation shall be entitled to deduct any amount of withholding taxes and other withholding from any amount paid or credited hereunder. 

  
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 IN WITNESS
WHEREOF the Corporation and the Executive have each executed this Agreement as of February 2, 2010. 
  

											
		 		 	TRIANGLE PETROLEUM CORPORATION
					
		 		 		 	By:	 	 
		 		 		 		 	Name:	 	
		 		 		 		 	Title:	 	
					
		 		 		 	By:	 	/s/ Peter Hill
		 		 		 		 	Name:	 	Peter Hill
		 		 		 		 	Title:	 	Chief Executive Officer
					
		 	 	 		 		 	/s/ Jonathan Samuels
		 	Witness	 		 		 	Jonathan Samuels

  
 5Consulting Agreement

  
 Exhibit 10.1

 CONSULTING AGREEMENT 
 THIS CONSULTING AGREEMENT (“Agreement”), is made and entered into as of October 22, 2010 by and between Kensey Nash Corporation, a Delaware corporation (the
“Company”), and Harold Chefitz (“Consultant”) (together, the “Parties”). 

WHEREAS, Consultant currently serves as a member of the Company’s board of directors (the “Board”), but will
cease to serve as a director of the Company when his current term expires; and 
 WHEREAS, the Company wishes to retain
Consultant in an advisory role after his service as a director terminates, and Consultant wishes to assume such a role, all upon the terms and conditions hereinafter set forth; 

NOW, THEREFORE, in consideration of the mutual covenants of the Parties hereinafter set forth, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 
 1. Term. The term of Consultant’s service (the “Term”) shall commence on December 1, 2010 and shall terminate on the earliest to occur of:
(a) November 30, 2011; (b) Consultant’s death or disability (as determined in the sole discretion of the Company); (c) Consultant’s breach of this Agreement or engagement in conduct that, in the Company’s sole
discretion, is determined in good faith to be materially injurious to the Company; or (d) a date mutually agreed to by the Parties in writing. 
 2. Consulting Services. During the Term, Consultant will provide consulting services and advice regarding financing, acquisitions and strategic partnerships as the Board or executive
officers of the Company may request from time to time, and, upon reasonable notice, Consultant shall make himself available as requested by the Board or such officers (including attendance at Board meetings). Consultant agrees that he shall exercise
a reasonable degree of skill and care in performing his services pursuant to this Agreement. 
 3.
Compensation. As full and complete compensation to Consultant for all services to be rendered by him hereunder, Consultant shall receive the compensation and benefits described in this Paragraph 3. 

 

	 	(a)	Consulting Fee. During the Term, Consultant shall receive a monthly payment from the Company equal to $10,000, and the first such payment shall occur on
December 31, 2010. 

  

	 	(b)	Stock Options. During the Term, any stock options that were granted to Consultant under the Company’s equity plan during his service as a director of the
Company, and which were vested and outstanding at the time he ceased to be a director of the Company, shall remain exercisable until the earlier of the Term’s expiration or the expiration of the applicable stock option’s term. All
outstanding stock options shall be forfeited to the Company upon the Term’s expiration. 

  

	 	(c)	Restricted Stock. During the Term, any restricted stock that was granted to Consultant under the Company’s equity plan during his service as a director of
the Company shall continue to vest pursuant to the vesting schedule set forth in the applicable restricted stock agreement. All unvested shares of restricted stock as of December 31, 2010 shall be forfeited to the Company.

  

	 	(d)	Business Expenses. The Company shall reimburse Consultant for all business-related expenses incurred by him at the Company’s direction during the Term.
Consultant shall submit to the Company expense reports in compliance with established Company guidelines. 

 4. Independent Contractor Status. In providing services under this Agreement, Consultant shall be acting solely as an independent contractor and not as an employee or director of the
Company. Consultant shall have no right or authority to bind, assume or create any obligation or responsibility on behalf of the Company or the Board, or to make any representations on their behalf, except as expressly authorized by the Board.
Neither the Company nor Consultant will engage in any actions that would cause Consultant to be considered an employee or director of the Company, and nothing in this Agreement shall be construed to create an employment or agency relationship,
partnership or joint venture between the Parties. Consultant shall be solely responsible for all taxes, withholdings and similar statutory obligations, including, but not limited to, workers’ compensation laws, arising from the amounts paid to
him pursuant to Paragraph 3 above. As an independent contractor, except as specifically provided herein, Consultant shall not be entitled to participate in or receive benefits under any programs, polices or plans the Company maintains for its
employees or directors, including, without limitation, health, disability, and life insurance benefits; pension and retirement plans; equity and incentive plans; and other fringe benefits. If the Internal Revenue Service subsequently classifies
Consultant as a common law employee, Consultant expressly waives his right to any benefits to which he was, or might have become, entitled. The Parties acknowledge that Consultant is free to engage in any activities outside those set forth in this
Agreement, subject to Paragraphs 7 and 8 below. 
 5. Insider Trading Policy. Consultant
acknowledges that, in the performance of his services hereunder, he may receive insider information, and Consultant agrees to comply with the Company’s Policy on Insider Trading, as it may be amended from time to time. 

6. Non-Performance Assessment. Consultant agrees that, if he fails to perform the services set forth in
Paragraph 2 above, a $40,000 assessment shall become due and immediately payable in cash to the Company. 
 7.
Proprietary Information. 
  

	 	(a)	 Consultant acknowledges that the performance of his duties in connection with this Agreement will expose him to data and information concerning the
business and affairs of the Company, including, but not limited to, information relative to the Company’s proprietary rights and technology, patents, financial statements, sales programs, pricing programs, profitability analyses and profit
margin 

  
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information, customer buying patterns, needs and inventory levels, supplier identities and other related matters, and that all of such data and information (collectively, the “Proprietary
Information”) is vital, sensitive, confidential and proprietary to the Company. 

  

	 	(b)	Consultant acknowledges that the Proprietary Information constitutes a protectable business interest of Company, and covenants and agrees that during the Term and
thereafter, he shall not, directly or indirectly, whether individually, as a director, stockholder, owner, partner, employee or agent of any business, or in any other capacity, make known, disclose, furnish, make available or utilize any of the
Proprietary Information, other than in the proper performance of his duties under this Agreement. Consultant’s obligations under this Paragraph 7 with respect to particular Proprietary Information shall terminate only at such time (if any) as
the Proprietary Information in question becomes generally known to the public other than through a breach of Consultant’s obligations hereunder. 

  

	 	(c)	As used in this Paragraph 7, and Paragraph 8, the term “Company” shall include, where applicable, any parent, subsidiary, sub-subsidiary, or affiliate of the
Company. 

 8. Return of Company Property Upon Expiration of Term. Consultant
acknowledges that all customer information, supplier lists, financial information, and other records or documents containing Proprietary Information prepared by Consultant or coming into his possession by virtue of his services hereunder is and
shall remain the property of the Company and that upon expiration of the Term, Consultant shall return immediately to the Company all such items in his possession, together with all copies thereof. 

9. Equitable Remedies. 
  

	 	(a)	Consultant acknowledges and agrees that the covenants set forth in Paragraphs 7 and 8 inclusive hereof survive the expiration of the Term; are reasonable and necessary
for the protection of the Company’s business interests; will cause irreparable injury to the Company if breached by Consultant; and that in the event of Consultant’s actual or threatened breach of any such covenants, the Company will have
no adequate remedy at law. Consultant accordingly agrees that in the event of any actual or threatened breach by him of any of said covenants, the Company shall be entitled to immediate injunctive and other equitable relief, without bond and without
the necessity of showing actual monetary damages. Nothing contained herein shall be construed as prohibiting the Company from pursuing any other remedies available to it for such breach or threatened breach, including the recovery of any damages
which it is able to prove. 

  

	 	(b)	Each of the covenants in Paragraphs 7 and 8 inclusive hereof shall be construed as independent of any other covenants or other provisions of this Agreement.

  

	 	(c)	 In the event of any judicial determination that any covenant set forth in Paragraphs 7 and 8 inclusive hereof is not fully enforceable, it is the
intention and desire of 

  
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the Parties that the court treat said covenants as having been modified to the extent deemed necessary by the court to render it reasonable and enforceable, and that the court shall enforce it to
such extent. 

 10. Notices. Any notice required or permitted pursuant to the
provisions of this Agreement shall be deemed to have been properly given if in writing and when sent by United States mail, certified or registered, postage prepaid, when sent by facsimile or when personally delivered, addressed as follows:

 If to Company: 
 Kensey Nash Corporation 
 735 Pennsylvania Drive 

Exton, PA 19341 
 Attention: Joseph W. Kaufmann 
 With a copy to: 

Katten Muchin Rosenman LLP 
 525 West Monroe Street 
 Chicago, IL 60661-3693 

Attention: David R. Shevitz, Esq. 

If to Consultant, to the address most recently on file with the Company 

Each Party shall be entitled to specify a different address for the receipt of subsequent notices by giving written notice thereof to the
other Party in accordance with this Paragraph 10. 
 11. Waiver of Breaches. No waiver of any
breach of any of the terms, provisions or conditions of this Agreement shall be construed or held to be a waiver of any other breach, or a waiver of, acquiescence in or consent to any further or succeeding breach thereof. 

12. Assignment. This Agreement shall not be assignable by either Party without the written consent of the
other. 
 13. Governing Law; Jurisdiction. This Agreement shall be governed by and construed in
accordance with the laws and judicial decisions of the Commonwealth of Pennsylvania. For the purposes of any suit, action or other proceeding arising out of this Agreement or with respect to Consultant’s services hereunder, the Parties:
(a) agree to submit to the jurisdiction of the federal or state courts located in Pennsylvania; (b) waive any objection to personal jurisdiction or venue in such jurisdiction, and agree not to plead or claim forum non conveniens; and
(c) waive their respective rights to a jury trial of any claims and causes of action, and agree to have any matter heard and decided solely by the court. 
 14. Severability. If any term or provision of this Agreement shall be held to be invalid or unenforceable, the remaining terms and provisions hereof shall not be affected thereby.

  
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 15.
Miscellaneous. Paragraph headings herein are for convenience only and shall not affect the meaning or interpretation of the contents hereof. This Agreement contains the entire agreement between the Parties with respect to the subject
matter hereof and supersedes all prior agreements and understandings between the Parties and all prior obligations of the Company with respect to the services of Consultant or the payment to Consultant of compensation of any kind whatsoever. No
supplement or modification of this Agreement shall be binding unless in writing and signed by both Parties. This Agreement may be signed in counterparts, each of which shall be deemed an original and all of which taken together shall constitute one
and the same agreement, and delivered by facsimile or other electronic transmission confirmed promptly thereafter by actual delivery of executed counterparts. 
 [Signature Page Follows] 

  
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 IN WITNESS
WHEREOF, the Parties have caused this Agreement to be executed as of the date first hereinabove set forth. 
  

			
	 CONSULTANT

	
	 /s/ Harold N. Chefitz

	 Harold N. Chefitz

	
	 KENSEY NASH CORPORATION

		
	By:	 	 /s/ Joseph W. Kaufmann

		
	Title:	 	 President and CEO

  
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