Document:

Exhibit
10.8

 

AMENDMENT TO EMPLOYMENT AGREEMENT

 

WHEREAS,
Golden Growers Cooperative, a North Dakota cooperative (“GGC”) and Mark Dillon
(“Executive”) entered into an Employment Agreement as of June 10, 1996, (“Employment
Agreement”); and

 

WHEREAS,
GGC and Executive desire to extend the terms of that Employment Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants and conditions herein
described.  The parties agree to amend
the Employment Agreement as follows:

 

1.             The first full sentence of paragraph
1 entitled “Term” is amended to read as follows:

 

Subject
to earlier termination as provided in paragraph 6 herein, the term of such
employment shall commence on the Effective Date and shall end on the five
(5)-year anniversary of the Effective Date.

 

2.             Paragraph 7 is amended to read as
follows:

 

Security
Agreement.  To secure
performance by GGC of its One Hundred Fifty Thousand Dollar ($150,000.00)
obligation under paragraph 6 of this Agreement, GGC shall, coincident with the
signing of this Agreement, deposit One Hundred Fifty Thousand Dollars
($150,000.00) in the form of a Certificate of Deposit with Community First Bank
(the “Bank”).  GGC shall pledge to
Executive the Certificate of Deposit (by executing and delivering to Bank and
Executive forms required by the Bank or provided by Executive’s attorney) and
it does hereby grant to Executive a Uniform Commercial Code security interest
in the Certificate of Deposit to secure GGC’s obligations under paragraph 6 of
this Agreement.  In the event of a
default by GGC in said obligations, Executive shall have the right if the
default is not cured within thirty (30) days following Executive’s written
notice to GGC of default, to deliver the Certificate of Deposit to the Bank and
obtain the payment of the proceeds, excluding all accrued interest thereon, to
Executive and/or to resort to any and all remedies which the Executive may have
at law or in equity.  For such purposes,
GGC irrevocably appoints Executive as its attorney-in-fact to liquidate such
Certificate of Deposit.  The Bank may
rely conclusively upon the original or a photocopy of this document and the
Executive’s affidavit that a default has occurred, Executive’s affidavit and
proof of personal service by an independent third party that a notice of
default has been given GGC and that default has not been timely cured.  GGC shall also execute and
deliver to Executive all Uniform Commercial Code Financing Statements
reasonably requested by Executive to perfect his security interest
in the Certificate of Deposit.  The
Certificate of Deposit shall also be delivered to Executive.  Once five years have passed following the
Effective Date of this Agreement, the Certificate of Deposit shall be returned
to GGC by Executive and any and all Uniform Commercial Code Financing
Statements shall be terminated by Executive, provided that GGC is not then in
default under the terms of this Agreement. 
GGC shall also reimburse Executive for any expense incurred by Executive
in protecting or enforcing his rights under this Agreement including, without
limitation, reasonable attorneys’ fees and legal expenses, and all expenses of
liquidating the Certificate of Deposit.

 

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3.             The second-to-last sentence in
paragraph 9 entitled “Releases” is amended to read as follows:

 

Executive
will also be required to sign a release identical to the above release but
including any new legal requirements to assure its enforceability which may be
effective at the time of his termination, along with his agreement to keep
confidential and not disclose the circumstances of his termination or
derogatory comments regarding GGC or ProGold or its owners or employees, at the
time of any termination of employment prior to expiration of the initial five
(5)-year term of Executive’s employment, as a condition of receiving the One
Hundred Fifty Thousand Dollar ($150,000.00) payment provided to him at the time
of his termination by GGC without Cause.

 

4.             Except as modified herein, the
terms of the Employment Agreement entered into as of June 10, 1996, shall
remain in full force and effect.

 

SIGNED
AT Fargo, North Dakota, this 15th day of August, 1997.

 

Mark
Dillon

 

Golden
Growers Cooperative

 

Patrick
Benedict

Its
Chairman

 

2Exhibit 4.1

 

AMENDED AND RESTATED

 

CERTIFICATE OF INCORPORATION

 

OF

 

SMURFIT-STONE CONTAINER CORPORATION

(f/k/a Smurfit-Stone Container Enterprises, Inc.)

 

Smurfit-Stone
Container Corporation (the “Corporation”), a corporation organized and
existing under the laws of the State of Delaware, hereby certifies as follows:

 

That
its original Certificate of Incorporation of the Corporation was filed under
the name “S.C.C. Merger Corporation” with the Secretary of State of the State
of Delaware on April 14, 1987; that its name was changed to “Stone
Container Corporation” pursuant to a Certificate of Merger filed with the
Secretary of State of the State of Delaware on May 20, 1987 in connection
with the merger of Stone Container Corporation, an Illinois corporation, into
S.C.C. Merger Corporation under the name Stone Container Corporation; that its
name was changed to “Smurfit-Stone Container Enterprises, Inc. pursuant to
a Certificate of Merger filed with the Secretary of State of the State of
Delaware on November 1, 2004 in connection with the merger of Jefferson
Smurfit Corporation (U.S.) into Stone Container Corporation; and that its name
was further changed to “Smurfit-Stone Container Corporation” pursuant to a
Certificate of Merger filed with the Secretary of State of the State of
Delaware on June 30, 2010 in connection with the merger of Smurfit-Stone
Container Corporation, a Delaware corporation incorporated on August 4,
1989 under the name “SIBV/MS Holdings, Inc.” (the “Predecessor Corporation”),
into the Corporation.

 

That
this Amended and Restated Certificate of Incorporation was duly adopted in
accordance with the provisions of Sections 242 and 245 and, to the extent
applicable, Section 303, of the General Corporation Law of the State of
Delaware (as amended, the “DGCL”), and amends and restates, in their
entirety, the provisions of the Corporation’s Certificate of Incorporation as
currently in effect.  Provision for the
making of this Amended and Restated Certificate of Incorporation is contained
in the order of the United States Bankruptcy Court for the District of Delaware
dated as of June 21, 2010 confirming the Modified Joint Plan of
Reorganization for Smurfit-Stone Container Corporation and its Debtor
Subsidiaries and Plan of Compromise and Arrangement for Smurfit-Stone Container
Canada Inc. and Affiliated Canadian Debtors (the “Plan”) filed pursuant
to Section 1121(a) of Chapter 11 of Title 11 of the United States
Code (the “Bankruptcy Code”).

 

The
Corporation’s Certificate of Incorporation as currently in effect is hereby
amended and restated in its entirety to read as follows.

 

1.           Name.  The name of the Corporation is Smurfit-Stone
Container Corporation.

 

2.           Registered Office
and Agent.  The address of the
registered office of the Corporation in the State of Delaware is 1209 Orange
Street in the City of Wilmington, County of New Castle. The name of its
registered agent at such address is The Corporation Trust Company.

 

 

3.           Purpose:  The purpose of the Corporation is to engage
in any lawful act or activity for which a corporation may be organized under
the DGCL.

 

4.           Capital Stock:

 

A.            General.  The total number of shares of capital stock
which the Corporation shall have authority to issue is one hundred sixty million (160,000,000) shares, consisting of: (a) one hundred fifty million (150,000,000)
shares of common stock, par value $.001 per share (the “Common Stock”);
and (b) ten million (10,000,000)
shares of preferred stock, par value $.001 per share (the “Preferred Stock”).

 

B.            Common Stock.  Except as otherwise provided by the DGCL or
by resolutions, if any, of the Board of Directors fixing the relative powers,
preferences and rights and the qualifications, limitations or restrictions of
any series of Preferred Stock, the entire voting power of the shares of the
Corporation for the election of directors and for all other purposes shall be
vested exclusively in the Common Stock. 
Each share of Common Stock shall have one vote upon all matters to be
voted on by the holders of the Common Stock, and shall be entitled to
participate equally in all dividends payable with respect to the Common
Stock.  Each share of Common Stock shall
share equally, subject to the rights and preferences of any series of
outstanding Preferred Stock (as fixed by resolutions, if any, of the Board of
Directors), in all assets of the Corporation, in the event of any voluntary or
involuntary liquidation, dissolution or winding up of the affairs of the
Corporation, or upon any distribution of the assets of the Corporation.

 

C.            Preferred Stock.  The Board of Directors is expressly
authorized to provide for the issuance of all or any shares of the Preferred
Stock in one or more classes or series, and to fix for each such class or
series such voting powers, full or limited, or no voting powers, and such
distinctive designations, preferences and relative, participating, optional or
other special rights and such qualifications, limitations or restrictions
thereof, as shall be stated and expressed in the resolution or resolutions
adopted by the Board of Directors providing for the issuance of such class or
series and as may be permitted by the DGCL, including, without limitation, the
authority to provide that any such class or series may be (i) subject to
redemption at such time or times and at such price or prices, (ii) entitled
to receive dividends (which may be cumulative or non-cumulative) at such rates,
on such conditions, and at such times, and payable in preference to, or in such
relation to, the dividends payable on any other class or classes or any other
series, (iii) entitled to such rights upon the dissolution of, or upon any
distribution of the assets of, the Corporation or (iv) convertible into,
or exchangeable for, shares of any other class or classes of stock, or of any
other series of the same or any other class or classes of stock, of the
Corporation at such price or prices or at such rates of exchange and with such
adjustments, all as may be stated in such resolution or resolutions.

 

D.            Non-Voting Stock.  Notwithstanding anything herein to the
contrary, the Corporation shall not be authorized to issue non-voting capital
stock of any class, series or other designation to the extent prohibited by Section 1123(a)(6) of
the Bankruptcy Code; provided, however, that the foregoing
restriction shall (i) have no further force and effect beyond that
required under Section 1123(a)(6) of the Bankruptcy Code, (ii) only
have such force 

 

2

 

and
effect for so long as such Section 1123(a)(6) is in effect and
applies to the Corporation and (iii) be deemed void or eliminated if
required under applicable law.

 

5.           Board of Directors:  The business and affairs of the Corporation
shall be managed by or under the direction of a Board of Directors.  Subject to the rights of holders of any
series of Preferred Stock to elect additional directors under specified
circumstances, the number of directors constituting the whole Board of
Directors shall be fixed, and may be altered from time to time, in the manner provided
in the bylaws of the Corporation as in effect from time to time (the “Bylaws”).  In no case shall a decrease in the number of
directors remove or shorten the term of any incumbent director.  Directors need not be stockholders of the
Corporation or residents of the State of Delaware.  Elections of directors need not be by written
ballot unless the Bylaws so provide.

 

6.           Limitation on
Liability of Directors.  To the
fullest extent permitted by law, no director shall be personally liable to the
Corporation or any of its stockholders for monetary damages for any breach of
fiduciary duty as a director, except for liability (i) for breach of the
director’s duty of loyalty to the Corporation or its stockholders, (ii) for
acts or omissions not in good faith or which involve intentional misconduct or
a knowing violation of law, (iii) pursuant to Section 174 of the DGCL
or (iv) for any transaction from which the director derived an improper
personal benefit.  Any alteration,
amendment or repeal of this Article 6 by the stockholders of the
Corporation shall not adversely affect any right or protection of a director of
the Corporation existing at the time of such alteration, amendment or repeal
with respect to acts or omissions occurring prior to such alteration, amendment
or repeal.

 

7.           Perpetual
Existence.  The Corporation is to
have perpetual existence.

 

8.           Bylaws.  The Bylaws may be altered, amended or
repealed in whole or in part, and new Bylaws may be adopted, (i) by the
Board of Directors with the affirmative vote of such number of directors as may
be required by, and otherwise in accordance with the procedures specified in,
the Bylaws or (ii) by the affirmative vote of stockholders required by,
and otherwise in accordance with the procedures specified in, the Bylaws.

 

9.           Business
Combinations with Interested Stockholders. 
The Corporation shall not be governed by the provisions of Section 203
of the DGCL.

 

10.         Indemnification.  Each person who is or was a director or
officer of the Corporation (or the Predecessor Corporation) on or after January 26,
2009, and each person who is or was a director or officer of the Corporation
(or the Predecessor Corporation) on or after January 26, 2009 serving or
having served at the request of the Corporation (or the Predecessor
Corporation) as a director, officer, trustee, administrator, employee or agent
of another corporation, partnership, joint venture, trust, employee benefit
plan or other enterprise, shall be indemnified by the Corporation in accordance
with, and to the fullest extent authorized by, the DGCL as in effect from time
to time.

 

11.         Amendment or Repeal
of Articles.  The Corporation
reserves the right, at any time and from time to time, to amend, alter, change
or repeal any provision contained in this Amended and Restated Certificate of
Incorporation, in the manner now or hereafter prescribed 

 

3

 

by
the laws of the State of Delaware; provided, however, that the
amendment, alteration or repeal of Articles 5, 6, 9, 10
or 11 of this Amended and Restated Certificate of Incorporation shall
require the affirmative vote of the holders of a majority of the voting power of the then

 

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outstanding
shares of capital stock of the Corporation entitled to vote generally in the
election of directors, voting together as a single class.

 

IN WITNESS WHEREOF, the Corporation has caused this certificate to be
signed by Craig A. Hunt, its
Senior Vice President, Secretary and General Counsel, this 30th day of June,
2010.

 

	
   

  	
  SMURFIT-STONE
  CONTAINER CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/
  Craig A. Hunt

  
	
   

  	
  Name:

  	
  Craig
  A. Hunt

  
	
   

  	
  Title:

  	
  Senior
  Vice President, Secretary

  
	
   

  	
   

  	
  and General Counsel

  
				

 

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