Document:

ex_176026.htm

Exhibit 10.1

 

SETTLEMENT AGREEMENT AND MUTUAL RELEASE

 

This Confidential Settlement Agreement and Mutual Release (the "Agreement") is entered into by and between RB Capital, Inc. ("RB Capital") and its principals Brett Rosen and Deborah Braun (collectively, the "RB Capital Parties") and Judith Braun (who is executing this agreement with respect to sections 4 and 5 only); on the one hand; and GreenBox POS; GreenBox POS, LLC; and Ben Errez and Fredi Nisan (collectively, the "GreenBox Parties"), on the other. The RB Capital Parties and the GreenBox Parties are collectively referred to herein as simply the "Parties," and each is sometimes individually referred to herein as a "Party."

 

 

RECITALS

 

 

WHEREAS, a dispute has arisen between the Parties arising out of an investment and loans RB Capital made with and to some of the GreenBox Parties; and

 

WHEREAS, in connection with the dispute between the Parties, on 24 April 2019, RB Capital filed a complaint against the GreenBox Parties, and each of them, in the Superior Court for the State of California, County of San Diego, Case No. 37-2019-21137 (the "Action"); and on 1 October 2019, RB Capital filed a First Amended Complaint in that Action against the GreenBox Parties, and each of them, alleging claims of fraud, breach of fiduciary duty, breach of contract, and other related claims; and

 

WHEREAS, on 31 October 2019, the GreenBox Parties filed in the Action a Cross- Complaint against the RB Capital Parties, alleging claims of fraud, breach of contract, tortious interference, insider trading, and other related claims; and

 

WHEREAS, the Parties desire to settle their differences with respect to all of the matters referenced above without further litigation and without any admission of fault or wrongdoing by any Party;

 

NOW, THEREFORE, in consideration of the covenants, representations, and warranties contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

 

 

AGREEMENT AND RELEASES

 

 

	 	
			1.

				
			The recitals above are hereby incorporated herein by reference and made a part of this Agreement.

			

 

	 	
			2.

				
			Payments and Deliveries. On the execution of this Agreement by all Parties hereto, GreenBox POS (the Nevada public company, also known as "GRBX") hereby agrees to pay and deliver to RB Capital the following:

			

 

(a)     $250,000 by attorney's trust account check, subject to clearance and collection, which check will be drawn on a bank having a branch within the State of California, County of San Diego, under the following conditions:

 

1

 

 

 

	 	
			(i)

				
			$200,000 will be applied to any and all outstanding principal balance of the $200,000 Convertible Promissory Note between RB Capital and GreenBox POS, dated November 26, 2018;

			

 

	 	
			(ii)

				
			$50,000 will be applied to any and all outstanding principal balance of the $300,000 Convertible Promissory Note between RB Capital and GreenBox POS, LLC; dated March 15, 2018.

			

 

(b)     6 million shares of GreenBox POS stock (GRBX), issued by GRBX under the following conditions:

 

	 	
			(i)

				
			The 6 million shares shall be issued pursuant to and as provided by the conversion rights in the $300,000 Convertible Promissory Note between RB Capital and GreenBox POS, LLC; dated March 15, 2018.

			

 

	 	
			(ii)

				
			The 6 million shares shall be fully paid and non-assessable; will be represented by new stock certificates issued directly by GRBX to and in the name of RB Capital by book entry with VStock Transfer, GRBX's transfer agent; will not be certificates that have been assigned to RB Capital by any transferor; will be issued pursuant to and shall be subject to and in full compliance with rule 144, regardless whether GRBX is current in its SEC and other required filings. This transfer will be initiated and completed as soon as possible and no later than 72 hours after the execution of this Agreement; and documentation reasonably acceptable to RB Capital's counsel shall be delivered to RB's counsel within that time period, evidencing 6 million shares of GRBX newly issued shares, reflected on the books and records of GRBX's transfer agent as being direct-issue shares in the name of RB Capital.

			

 

	 	
			(iii)

				
			GreenBox POS represents that it does not intend any dilution of its stock until GreenBox POS is ready for a major capital raise. GreenBox POS cannot warrant or guarantee that no dilution event will occur in the future as a result of capital raise or other transactions.

			

 

	 	
			(iv)

				
			Nonetheless, all the 6 million shares issued to RB Capital under this Agreement and remaining with VStock (or any successor to VStock as the public company may appoint) at the time of issuance will be anti- dilutive for three years from the date of the full execution of the Settlement Agreement. This means that the 6 million shares to be delivered under this Settlement Agreement (and excluding any other shares that RB Capital already owns or in the future acquires from other sources) shall continue to comprise no less than 3.4% of the issued and outstanding stock of GreenBox. The calculation to determine the percentage is as follows: 6 million shares divided by (6M shares + the 170,643,055 shares currently issued and outstanding) = 3.4%.

			

 

2

 

 

 

	 	
			(v)

				
			RB's sale of GreenBox POS shares in any one quarter may not exceed 5% of the total number of GRBX shares outstanding as of the end of the prior quarter.

			

 

	 	
			(vi)

				
			RB Capital will not short GreenBox POS stock.

			

 

	 	
			(vii)

				
			GreenBox POS will use best efforts to bring GRBX stock into compliance as soon as possible, including completion of the pending audit.

			

 

	 	
			(viii)

				
			GreenBox POS will use best efforts to achieve removal of the stop sign from the stock as soon as possible.

			

 

	 	
			(ix)

				
			GreenBox POS will use best efforts to get GRBX stock re-listed on the OTCQB as soon as possible.

			

 

	 	
			(x)

				
			RB irrevocably grants to GreenBox POS the exclusive right, privilege, and option (but not an obligation) to repurchase any of the remaining 6 million shares not previously sold by RB, held in book entry, in whole or in part. The price to be paid by GreenBox POS for any or all of those shares that it elects to purchase, shall be at the higher of: (i) then-current market value; or (ii) ten cents ($.10) per share).

			

 

	 	
			(xi)

				
			RB Capital will retain all earnings and proceeds it received from any previous sales of GreenBox POS stock.

			

 

	 	
			(xii)

				
			RB Capital will retain and, subject to the terms of this Settlement Agreement, it may dispose of the approximately 2.5 million shares of GRBX it currently owns.

			

 

	 	
			(c)

				
			RB Capital agrees that it will:

			

 

	 	
			(i)

				
			Waive any and all interest for the $200,000 Convertible Promissory Note between RB Capital and GreenBox POS, dated November 26, 2018.

			

 

	 	
			(ii)

				
			Waive any and all interest, and any claimed principal balance, for the

			

$300,000 Convertible Promissory Note between RB Capital and GreenBox POS, LLC; dated March 15, 2018.

 

	 	
			(iii)

				
			Relinquish any and all claim to any benefit described in the Share Purchase Agreement between RB Capital and GreenBox POS, LLC (dated January 10, 2018), including, but not limited to, any equity ownership stake in GreenBox POS, LLC.

			

 

	 	
			(iv)

				
			Cooperate with GreenBox POS and its auditors to provide any and all other necessary accounting documents, as may be requested, to facilitate the settlement and related transactions.

			

 

3

 

 

 

(d)     As a result of this settlement between the parties, both the $200,000 Convertible Promissory Note and the $300,000 Convertible Promissory Note will be considered fully repaid and/or forgiven, with no obligation of any kind owed by the GreenBox Parties to RB with respect to these notes.

 

	 	
			3.

				
			Deadline for Payment and Deliveries. Counsel for the GreenBox Parties shall confirm via email to RB Capital's counsel that GreenBox POS has deposited $250,000 in escrow with its counsel and that counsel is holding those funds in its attorney's trust account and, to the best of counsel's knowledge, those funds are good funds, before the RB Capital Parties will execute this Agreement. The $250,000 shall be paid, and the transfer of 6 million shares shall be initiated to RB Capital simultaneously with the execution of this Agreement by all parties.

			

 

(a)     The $250,000 shall be paid by attorney trust account check, payable to Shustak Reynolds & Partners, P.C. The Shustak firm will ask its bank to advise it when the funds have cleared and may be drawn against and will promptly notify GreenBox's counsel if and when those funds have cleared its bank. The GreenBox Parties will issue a Form 1099 to Shustak Reynolds & Partners, P.C. for the full $250,000. RB Capital will be solely responsible for paying any and all income taxes and penalties arising from this payment, if any.

 

(b)     The 6 million shares shall be transferred from GreenBox POS to RB Capital by book entry with VStock Transfer, with the transfer being initiated and instructions submitted to the transfer agent, and the transfer being completed with documentation reasonably acceptable to RB Capital's counsel evidencing the transfer and the shares being in the name of RB Capital, such transfer being completed and documentation being provided to RB Capital's counsel within seventy two (72) hours after execution of this Agreement by all parties. If GreenBox delivers the $250,000.00 but fails to promptly deliver the 6 million shares then, in that event, RB Capital will promptly return the

$250,000.00; neither party nor their counsel may release, from escrow, the Request for Dismissals with prejudice they are holding in escrow; and this litigation will continue.

 

If counsel for the GreenBox Parties has not confirmed by January 31, 2020, that counsel

(i) is holding in escrow the $250,000 payment or is in possession of the certified check for that amount; (ii) the 6 million shares are ready to be registered in RB Capital's name; and

(iii) all GreenBox Defendants have executed this Agreement, this Agreement and RB Capital's willingness to enter into this Agreement shall expire and be of no further force or effect. Likewise, if RB Capital Parties fail to execute this Agreement in full by January 31, 2020, then the GreenBox Parties' willingness to enter into this Agreement shall expire and be of no further force or effect.

 

	 	
			4.

				
			Dismissal of Claims. Upon execution of this Agreement, RB Capital will provide counsel for the GreenBox Parties a fully executed Request for Dismissal with prejudice of all claims asserted in the First Amended Complaint; and the GreenBox Parties will provide counsel for the RB Capital Parties a fully executed Request for Dismissal with prejudice of all claims asserted against the RB Capital Parties, including Judith Braun, in the Cross- Complaint. The GreenBox Parties agree that they will hold and not file the RB Capital

			

 

4

 

 

 

Parties' Request for Dismissal until receiving written, email confirmation from RB Capital's attorneys that (i) the payment has cleared its bank and constitutes good funds; and (ii) the shares discussed above have been transferred into RB Capital's name and the documentation provided to RB Capital's counsel is reasonably acceptable to them to evidence that GRBX has issued shares directly to, and in the name of RB Capital. Likewise, RB Capital Parties agree that they will hold and not file the GreenBox Parties' Request for Dismissal until a full and final execution of this Agreement by all Parties and counsel and until the payment has cleared its counsel's bank account and shares discussed above are timely delivered, as specified above. Upon delivery of said money; timely delivery of the shares; and upon receiving written, email confirmation from RB Capital's counsel that the $250,000.00 payment has cleared its bank account and reasonably acceptable documentation has been provided confirming the issuance of the GRBX shares directly in RB Capital's name, the RB Capital Parties will immediately file said Requests for Dismissal on behalf of both sides.

 

	 	
			5.

				
			Mutual Releases. Upon payment of the monetary consideration set forth above; the full execution of this Agreement; written notification that the funds have cleared RB Capital's attorney's account; and timely delivery of the 6 million shares as specified above, all to have taken place no later than seventy two hours after January 31, 2020, each of the Parties does hereby fully release every other one of the Parties, including but not limited to Judith Braun, and their agents, officers, directors, employees, partners, attorneys, insurance companies, insurers, subsidiaries, related entities, representatives, predecessors, successors, and assigns, from any and all claims, whether past, present, or future, and from all liability and from any form or amount of damages directly or indirectly arising from, related to, sustained in connection with this dispute or this lawsuit. Nothing stated herein shall constitute a release of the GreenBox Parties' claims against anyone other than the RB Capital Parties and Judith Braun. By signing this Agreement, the GreenBox Parties are not hereby releasing and are, in fact, fully preserving any and all claims they have, without limitation, against Yoram Dahan, Melissa Dahan, Forty8 Ltd., and Trustees of the Melissa H. Dahan Living Trust (collectively, "the Dahan Parties").

			

 

	 	
			6.

				
			Waiver of Civil Code Section 1542. This Agreement is intended as a full and complete release and discharge of the claims the Parties have and/or may have against each other based on any and all acts, conduct, or omissions occurring on or before the Effective Date of this Agreement (as defined in Paragraph 22 below), and any and all damages arising from, related to, or sustained by reason of those claims, whether the claims and the damages are now known or unknown, expected or unexpected, or have already developed or appeared or may now be unknown but in the future may appear, develop, or become known. Accordingly, the Parties each expressly waive all rights under section 1542 of the Civil Code of the State of California. The Parties understand that section 1542 of the Civil Code provides as follows:

			

 

A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.

 

5

 

 

 

The Parties hereby represent they have read and had an opportunity to consult with counsel regarding the meaning and implications of California Civil Code section 1542, and each Party does hereby waive any rights under this provision. The Parties acknowledge that the foregoing waiver of section 1542 of the California Civil Code was separately bargained for. It is the Parties' intent that the full release provided for in this Agreement be construed as broadly as possible to include any claims arising in any way connected to the Parties' dispute and the Action.

 

	 	
			7.

				
			Attorneys' Fees and Costs for Underlying Dispute/Action. Each Party to this Agreement agrees to bear its/his/her own attorneys' fees and costs relating to the claims released in this Agreement, including any fees or costs incurred in connection with the Parties' dispute and the Action, and further agrees that the Party will not pursue recovery of any costs or attorneys' fees.

			

 

	 	
			8.

				
			Notice. Notice and service under this Agreement shall be by U.S. Mail and e-mail and shall be considered received the next business day after it is sent. Notice and service shall be addressed as follows, unless a Party notifies any other in writing of a different address:

			

 

 

	 	To RB Capital Parties:	 	To GreenBox Parties:
	 	 	 	 
	 	Shustak Reynolds & Partners, P.C.	 	Mintz Levin
	 	Attn: Erwin J. Shustak, Esq.	 	Attn: Natalie Prescott, Esq.
	 	Kara Siegel, Esq.	 	Evan Nadel, Esq.
	 	401 West A Street, Suite 2200	 	3580 Carmel Mountain Road, Suite 300
	 	San Diego, CA 92101	 	San Diego, CA 92130

 

	 	
			9.

				
			No Admission. It is understood and agreed by the Parties that this Agreement is in compromise of certain disputed claims and is not an admission of any fact or liability for all or any part of any such claims, and that the consideration referenced herein is being made to bring this dispute and the issues raised in the Action to a conclusion without additional legal fees or costs being incurred.

			

 

	 	
			10.

				
			Binding Effect; Applicable Law; Etc. As provided by Evidence Code 1123(b), this Agreement is enforceable, binding, and admissible in a court of law. This Agreement shall be governed by and construed, interpreted, and enforced in accordance with the laws of the State of California. Exclusive jurisdiction to resolve any dispute between the Parties regarding this Agreement lies and shall remain with the San Diego Superior Court, which shall retain jurisdiction until all the terms of the Agreement have been carried out.

			

 

	 	
			11.

				
			Interpretation of Ambiguities. The Parties acknowledge that: (1) this Agreement and its reduction to final form are a result of good-faith negotiations among the Parties and/or their counsel; (2) counsel or the Parties have carefully reviewed and examined the Agreement for execution by the Parties; and (3) any statute or rule of construction under which ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement.

			

 

6

 

 

 

	 	
			12.

				
			Enforceable Provisions Survive. If any provision of this Agreement shall be adjudged by a court to be void and/or unenforceable, this shall in no way affect any other provision of this Agreement, nor the validity or enforceability of the Agreement as a whole.

			

 

	 	
			13.

				
			Persons Bound. This Agreement is binding upon and inures to the benefit of each Party and each of the Parties' respective agents, owners, associates, employees, representatives, directors, officers, members, managers, partners, attorneys, predecessors, successors, assigns, and all other persons or entities acting by, through, under, or in concert with each Party.

			

 

	 	
			14.

				
			Warranty of Capacity to Execute Agreement. Notwithstanding the GreenBox Parties' pending cross-claims against the Dahan Parties, each Party represents and warrants that no other person or entity has or had any interest in the claims, demands, obligations, or causes of action referred to in this Agreement; that the Party has the sole right and exclusive authority to execute this Agreement and receive the consideration specified in it; and that the Party has not sold, assigned, transferred, conveyed or otherwise disposed of any of the claims, demands, obligations, or causes of action referred to in this Agreement.

			

 

	 	
			15.

				
			Execution of Agreement. This Agreement may be executed by separately signed signature pages, and when so executed shall have the full force and effect as if all Parties had signed a single original Agreement. Facsimile and/or PDF signatures may be used by the Parties as if they were originals and shall have full force and effect.

			

 

	 	
			16.

				
			Integration. This Agreement is a fully integrated contract and constitutes the entire agreement between the Parties with respect to the settlement of the claims and all other related matters referenced within this Agreement.

			

 

	 	
			17.

				
			Agreement Understood. The Parties each certify they have read all of this Agreement and fully understand the same, and that they have consulted with and received full legal advice regarding this Agreement. The parties acknowledge that there have been no representations or warranties made regarding the tax consequences of the settlement and each party agrees to be responsible for what tax consequences may arise to it, him, or her from this settlement and to consult with qualified tax professionals, if necessary.

			

 

	 	
			18.

				
			Amendment / Waiver of Breach of Agreement. This Agreement may be amended only by written agreement signed by each of the Parties, and any alleged breach of this Agreement may be waived only by a written waiver signed by the Party granting the waiver. This Agreement and any such amendments or waivers of breach may only be executed directly by the Parties.

			

 

	 	
			19.

				
			Effectiveness. This Agreement shall become effective immediately upon execution by all the Parties ("Effective Date").

			

 

	 	
			20.

				
			Effect of Headings. The subject headings of this Agreement are included for purposes of convenience only and shall not affect the construction or interpretation of any of its provisions.

			

 

7

 

 

UNDERSTOOD, ACCEPTED AND AGREED.

 

  

	Date:     January       , 2020	 	                                                                                                             
	 	 	Brett Rosen
	 	 	On behalf of RB Capital Partners, Inc.
	 	 	 
	 	 	 
	Date:     January       , 2020	 	                                                                                                             
	 	 	Brett Rosen
	 	 	 
	 	 	 
	Date:     January       , 2020	 	                                                                                                             
	 	 	Deborah Braun
	 	 	 
	 	 	 
	Date:     January       , 2020	 	                                                                                                             
	 	 	Ben Errez
	 	 	On behalf of GreenBox POS, a Nevada corporation
	 	 	 
	 	 	 
	Date:     January       , 2020	 	                                                                                                             
	 	 	Ben Errez
	 	 	
			On behalf of GreenBox POS, LLC, a Washington limited

			liability company

			
	 	 	 
	 	 	 
	Date:     January       , 2020	 	                                                                                                             
	 	 	Ben Errez
	 	 	 
	 	 	 
	Date:     January       , 2020	 	                                                                                                             
	 	 	Fredi Nisan
	 	 	 
	 	 	 
	Date:     January       , 2020	 	                                                                                                             
	 	 	Judith Braun (with respect to sections 4 and 5 only)

 

8

 

 

 

	 	 	 
	APPROVED AS TO FORM ONLY:	 	 
	 	 	 
	Date:     January       , 2020	 	                                                                                                             
	 	 	Erwin Shustak, Esq.
	 	 	
			On behalf of RB Capital Partners, Inc., Brett Rosen,

			Deborah Braun, and Judith Braun

			
	 	 	 
	Date:     January       , 2020	 	                                                                                                             
	 	 	Natalie Prescott, Esq.
	 	 	
			On behalf of GreenBox POS; GreenBox POS, LLC; Ben

			Errez; and Fredi Nisan

			

 

 

9Exhibit 10.53

 

This
Document Constitutes Part of a 

Prospectus
Covering Securities that Have Been

Registered
Under the Securities Act of 1933

 

2020 RESTRICTED
STOCK UNIT GRANT AGREEMENT

 

This
Grant (the “Grant”) is made as of the 1st day of March, 2020 (“Date of Grant”) by Anixter
International Inc., a Delaware corporation (the “Corporation”), to ____________ (“Participant”) pursuant
to the Anixter International Inc. 2017 Stock Incentive Plan (the “Plan”). All capitalized terms used but not defined
herein shall have the meanings assigned to such terms in the Plan.

 

Section 1. Grant
of Stock Units. On the terms and conditions stated herein, the Corporation hereby grants to the Participant _____ stock units
(“Units”), convertible to shares of the Corporation on a one-for-one basis (subject to Section 11 hereof).

 

Section 2. Vesting,
Conversion and Forfeiture.

 

(a) Except
as described in Section 2(b) below, one third of the Units shall vest on each anniversary of the Date of Grant beginning with the
first anniversary of the Date of Grant. Units shall settle (subject to Section 11 hereof) on the date they vest. If at a time the
Units are not vested (i) Participant’s employment with the Corporation and its affiliates terminates for reasons other than
as described in Section 2(b), or (ii) any transfer of the Units is made in violation of this Agreement, the Units and any distributions
thereon shall be forfeited and, in the case of transfer, may be reacquired by the Corporation, upon notice to Participant or any
transferee, at no cost to the Corporation.

 

(b) If
Participant’s employment with the Corporation and its affiliates terminates due to Retirement, death or Disability, any Units
that are unvested as of the effective time of such termination will vest in full and be settled (subject to Section 11 hereof)
within 30 days of the date of such termination. For purposes of this Section 2(b):

 

(i) “Retirement”
means a termination that is classified as such by a management committee consisting of the Corporation’s Chief Executive
Officer, Chief Financial Officer, General Counsel, and Executive Vice President of Human Resources (collectively, the “Management
Committee”), or, following the Merger (as defined below), any successor committee to the Management Committee that the Parent
(as defined below) may designate, in any case, in its sole discretion; provided, that in no event shall a termination be
deemed a Retirement hereunder unless such termination is other than for Cause when the Participant is age 60 or older, has completed
ten or more years of employment with the Corporation and its affiliates and has given the Corporation written notice of Participant’s
intended Retirement date at least six months prior to such Retirement date; provided, further, that any determination
made in any other circumstance or with respect to any other individual shall have no precedential or other effect on determination
with respect to Participant;

 

(ii) “Disability”
means termination of Participant’s employment with the Corporation and its affiliates due to Participant having been determined
to be disabled under the Corporation’s long term disability plan; and

 

(iii) “Cause”
means (A) Participant’s willful and continued failure to substantially perform Participant’s employment duties in any
material respect (other than such failure resulting from physical or mental incapacity), after a written demand for substantial
performance is delivered to Participant that specifically identifies the manner in which the Corporation believes Participant has
failed to perform his or her duties, and after Participant has failed to resume substantial performance of Participant’s
duties on a continuous basis within 30 days of receiving such demand; (B) the Committee’s determination, in good faith, that
Participant has engaged, during the performance of his or her duties, in significant objective acts or omissions constituting willful
misconduct or gross negligence relating to the business of the Corporation that are demonstrably and materially injurious to the
Corporation, or (C) a plea of guilty or nolo contendere by Participant, or conviction of Participant, for a felony under
federal or state law.

 

    1

     

    

 

Section 3. Right
of Recoupment. The Grant of the Units is expressly made subject to and conditioned on the following understanding. Participant
acknowledges and agrees that if (a) the financial results of the Corporation for its fiscal year immediately preceding the Date
of Grant are restated and (b) the Compensation Committee of the Board of Directors of the Corporation (“Committee”)
determines, in its sole discretion, that (i) Participant engaged in conduct that caused or partially caused the need for the restatement
and (ii) a lesser Grant would have been made to Participant under this Agreement based on the restated financial results then (x)
the Corporation shall have the right to recoup from Participant the amount of any overpayment of compensation attributable to the
Grant or such other amount, up to the full compensation realized by Participant with respect to the Grant, as the Committee determines,
in its sole discretion, based on its review of the relevant facts (“Recoupment Amount”) and (y) the Corporation shall
have the right to effect such recoupment by (A) cancelling unvested Units or other options or restricted stock units held by Participant,
(B) to the extent permitted by law, offsetting such recoupment obligation against any other obligation of the Corporation to Participant,
or (C) demanding repayment from Participant. In the event that a restatement impacts more than one fiscal year, the Corporation
may exercise this recoupment right with respect to each fiscal year that is subject to restatement. This recoupment right shall
be a separate contract right enforceable by the Corporation against Participant and shall be in addition to, and not in substitution
for, any and all other rights or remedies that the Corporation may have against Participant with respect to Participant’s
conduct and the restatement, including any right the Corporation may have under Section 304 of the Sarbanes-Oxley Act of 2002.
The Corporation shall also be entitled to interest on the Recoupment Amount at a reasonable rate of interest and to reimbursement
of all costs of collection.

 

Section 4. Prohibited
Transfers. Any sale, hypothecation, encumbrance or other transfer of Units is prohibited unless the same shall have been consented
to in advance in writing by the Corporation (which consent may be withheld in the sole discretion of the Corporation).

 

Section 5. Withholding
Taxes. As a condition to the grant, vesting or conversion of the Units acquired hereunder, the Corporation shall withhold the
number of whole Units required for the satisfaction of any Federal, state or local withholding tax obligations that may arise in
connection therewith.

 

Section 6. Retention
of Certificate and Any Distributions. The Treasurer or any Assistant Treasurer shall retain on behalf of Participant, until
the Units are converted, all certificates and distributions pertaining to the Units. Upon conversion and subject to the withholding
of the number of Units sufficient for payment of withholding tax, the certificates and all distributions (with or without interest
on any cash distributions, as determined from time to time by the Corporation in its sole discretion) shall be delivered to Participant.

 

Section 7. Parties
in Interest. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their respective heirs,
executors, administrators, successors, assigns and personal representatives.

 

    2

     

    

 

Section 8. Specific
Performance. In the event of a breach of this Agreement by any party hereto, any other party hereto shall be entitled to secure
specific performance of this Agreement in any court of competent jurisdiction.

 

Section 9. Notices,
etc. All notices and other communications required or permitted hereunder will be in writing and will be mailed by first-class
mail, postage prepaid, addressed (a) if to the Corporation, at:

 

 2301 Patriot Boulevard

Glenview, Illinois 60026

Attn: General Counsel

 

or at such address as the Corporation will
have furnished to Participant in writing, or (b) if to Participant, at then current address in the records of the Corporation or
at such other address as Participant will have furnished to the Corporation in writing in accordance with this Section.

 

All notices and other
communications to be given hereunder shall be given in writing. Except as otherwise specifically provided herein, all notices and
other communications hereunder shall be deemed to have been given if personally delivered to the party being served, or two business
days after mailing thereof by registered mail, return receipt requested, postage prepaid, to the requisite address set forth above
(until notice of change thereof is served in the manner provided in this Section).

 

Section 10. No
Right to Employment. Nothing in this Agreement or in the act of granting the Units to Participant shall give Participant any
rights to continue to be employed by Corporation.

 

Section 11. Anticipated
Merger. The Corporation entered into that certain Agreement and Plan of Merger (“Merger Agreement”), dated as of
January 10, 2020, by and among WESCO International, Inc., a Delaware corporation (“Parent”), Warrior Merger Sub, Inc.,
and the Corporation (the transactions contemplated thereby, the “Merger”). Notwithstanding anything in the Plan, a
change in control severance agreement to which Participant is a party, or any other document, (i) the vesting of the Units shall
not accelerate solely as a result of the Merger and (ii) solely with respect to the Grant, the Merger shall not constitute a “change
in control” or “change of control” for any purpose. It is an express condition to Participant’s receipt
of the Grant that Participant acknowledge and agree to the terms set forth in the immediately preceding sentence and, by accepting
the Grant, Participant does so acknowledge and agree. Upon the consummation of the Merger, the Grant (and the Units subject thereto)
will remain outstanding and be converted into an award (a “Parent Phantom Award”) of a number of cash-settled Parent
phantom stock units equal to the product, rounded to the nearest whole number, of (i) the number of shares of the Corporation subject
to the Grant, multiplied by (ii) the Equity Award Exchange Ratio. For purposes of the Grant, “Equity Award Exchange Ratio”
means the sum of (1) the Common Exchange Ratio and (2) the quotient of (a) the sum of (i) the Cash Consideration and (ii) the product
of the (x) the Preferred Exchange Ratio and (y) the face value of a Depositary Share, divided by (b) the Average Parent Stock Price
(with all capitalized terms in such definition having the meaning assigned to them in the Merger Agreement). Each Parent Phantom
Award shall have the same terms and conditions that apply to the Grant, except that the Parent Phantom Award shall be settled solely
in cash (and shall not represent the right to receive stock of any kind) with each unit subject to the Parent Phantom Award representing
the right to receive an amount of cash equal to the fair market value of one share of Parent common stock on the applicable vesting
date, and shall be eligible to vest on vesting schedule provided in Section 2 hereof, subject to Participant’s continued
employment through the applicable vesting date, except that (i) in the event of Participant’s termination of employment due
to death, Disability or Retirement, the Parent Phantom Award will vest upon the termination date, and will be settled within 30
days of the date of such termination and (ii) in the event of Participant’s termination of employment on or after the Merger,
by the Corporation, Parent or any of their respective affiliates, without Cause or by the Participant for “good reason”
(as such term is defined in Participant’s change in control severance agreement with the Corporation), the Parent Phantom
Award shall vest and become payable within 30 days of the date of such termination in accordance with the following: (A) if such
termination occurs on or after the date on which the Merger is consummated but prior to the first anniversary of Date of Grant,
one-third (1/3) of the phantom units underlying such Parent Phantom Award shall vest; (B) if such termination occurs on or after
the first anniversary of the Date of Grant but prior to the second anniversary of the Date of Grant, two-thirds (2/3), less any
previously vested portion, of the phantom units underlying such Parent Phantom Award shall vest; and (C) if such termination occurs
on or after the second anniversary of the Date of Grant but prior to the third anniversary of the Date of Grant, 100% of the units
then underlying such Parent Phantom Award shall vest; provided, that in each case, the portion of such Parent Phantom Award
that remains unvested as of the holder’s termination date after giving effect to the foregoing treatment shall be forfeited.

 

    3

     

    

 

In
Witness Whereof, the Corporation has caused this Grant to be executed on its behalf by its officer duly authorized to act
on behalf of the Corporation.

 

	Anixter
    International Inc.	 
	a Delaware corporation	 
	 	 	 
	By:	Ted A. Dosch	
	 	 	 
	Its:	Executive Vice President
    - Finance	
	 	and Chief Financial Officer	 

 

    4

     

    

 

This
Document Constitutes Part of a 

Prospectus
Covering Securities that Have Been

Registered
Under the Securities Act of 1933

 

2020
RESTRICTED STOCK UNIT GRANT AGREEMENT

 

This
Grant (the “Grant”) is made as of the 1st day of March, 2020 (“Date of Grant”) by Anixter
International Inc., a Delaware corporation (the “Corporation”), to _____________ (“Participant”) pursuant
to the Anixter International Inc. 2017 Stock Incentive Plan (the “Plan”). All capitalized terms used but not defined
herein shall have the meanings assigned to such terms in the Plan.

 

Section 1.
Grant of Stock Units. On the terms and conditions stated herein, the Corporation hereby grants to the Participant _____
stock units (“Units”), convertible to shares of the Corporation on a one-for-one basis (subject to Section 10 hereof).

 

Section 2.
Vesting, Conversion and Forfeiture.

 

(a)
Except as described in Section 2(b) below, one third of the Units shall vest on each anniversary of the Date of Grant beginning
with the first anniversary of the Date of Grant. Units shall settle (subject to Section 10 hereof) on the date they vest. If at
a time the Units are not vested (i) Participant’s employment with the Corporation and its affiliates terminates for reasons
other than as described in Section 2(b), or (ii) any transfer of the Units is made in violation of this Agreement, the Units and
any distributions thereon shall be forfeited and, in the case of transfer, may be reacquired by the Corporation, upon notice to
Participant or any transferee, at no cost to the Corporation.

 

(b)
If Participant’s employment with the Corporation and its affiliates terminates due to Retirement, death or Disability, any
Units that are unvested as of the effective time of such termination will vest in full and be settled (subject to Section 10 hereof)
within 30 days of the date of such termination. For purposes of this Section 2(b):

 

(i)  
“Retirement” means a termination that is classified as such by a management committee consisting of the Corporation’s
Chief Executive Officer, Chief Financial Officer, General Counsel, and Executive Vice President of Human Resources (collectively,
the “Management Committee”), or, following the Merger (as defined below), any successor committee to the Management
Committee that the Parent (as defined below) may designate, in any case, in its sole discretion; provided, that in no event
shall a termination be deemed a Retirement hereunder unless such termination is other than for Cause when the Participant is age
60 or older, has completed ten or more years of employment with the Corporation and its affiliates and has given the Corporation
written notice of Participant’s intended Retirement date at least six months prior to such Retirement date; provided,
further, that any determination made in any other circumstance or with respect to any other individual shall have no precedential
or other effect on determination with respect to Participant;

 

(ii)
“Disability” means termination of Participant’s employment with the Corporation and its affiliates due to Participant
having been determined to be disabled under the Corporation’s long term disability plan; and

 

(iii)
“Cause” means (A) Participant’s willful and continued failure to substantially perform Participant’s employment
duties in any material respect (other than such failure resulting from physical or mental incapacity), after a written demand for
substantial performance is delivered to Participant that specifically identifies the manner in which the Corporation believes Participant
has failed to perform his or her duties, and after Participant has failed to resume substantial performance of Participant’s
duties on a continuous basis within 30 days of receiving such demand; (B) the Committee’s determination, in good faith, that
Participant has engaged, during the performance of his or her duties, in significant objective acts or omissions constituting willful
misconduct or gross negligence relating to the business of the Corporation that are demonstrably and materially injurious to the
Corporation, or (C) a plea of guilty or nolo contendere by Participant, or conviction of Participant, for a felony under
federal or state law.

 

    5

     

    

 

Section 3.
Prohibited Transfers. Any sale, hypothecation, encumbrance or other transfer of Units is prohibited unless the same shall
have been consented to in advance in writing by the Corporation (which consent may be withheld in the sole discretion of the Corporation).

 

Section 4.
Withholding Taxes. As a condition to the grant, vesting or conversion of the Units acquired hereunder, the Corporation shall
withhold the number of whole Units required for the satisfaction of any Federal, state or local withholding tax obligations that
may arise in connection therewith.

 

Section 5.
Retention of Certificate and Any Distributions. The Treasurer or any Assistant Treasurer shall retain on behalf of Participant,
until the Units are converted, all certificates and distributions pertaining to the Units. Upon conversion and subject to the withholding
of the number of Units sufficient for payment of withholding tax, the certificates and all distributions (with or without interest
on any cash distributions, as determined from time to time by the Corporation in its sole discretion) shall be delivered to Participant.

 

Section 6.
Parties in Interest. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their respective
heirs, executors, administrators, successors, assigns and personal representatives.

 

Section 7.
Specific Performance. In the event of a breach of this Agreement by any party hereto, any other party hereto shall be entitled
to secure specific performance of this Agreement in any court of competent jurisdiction.

 

Section 8.
Notices, etc. All notices and other communications required or permitted hereunder will be in writing and will be mailed
by first-class mail, postage prepaid, addressed (a) if to the Corporation, at:

 

 2301 Patriot
Boulevard

Glenview, Illinois 60026

Attn: General Counsel

 

or at such address as the Corporation will
have furnished to Participant in writing, or (b) if to Participant, at then current address in the records of the Corporation or
at such other address as Participant will have furnished to the Corporation in writing in accordance with this Section.

 

All notices and other
communications to be given hereunder shall be given in writing. Except as otherwise specifically provided herein, all notices and
other communications hereunder shall be deemed to have been given if personally delivered to the party being served, or two business
days after mailing thereof by registered mail, return receipt requested, postage prepaid, to the requisite address set forth above
(until notice of change thereof is served in the manner provided in this Section).

 

    6

     

    

 

Section 9.
No Right to Employment. Nothing in this Agreement or in the act of granting the Units to Participant shall give Participant
any rights to continue to be employed by Corporation.

 

Section 10.
Anticipated Merger. The Corporation entered into that certain Agreement and Plan of Merger (“Merger Agreement”),
dated as of January 10, 2020, by and among WESCO International, Inc., a Delaware corporation (“Parent”), Warrior Merger
Sub, Inc., and the Corporation (the transactions contemplated thereby, the “Merger”). Notwithstanding anything in the
Plan or any other document, (i) the vesting of the Units shall not accelerate solely as a result of the Merger, and (ii) solely
with respect to the Grant, the Merger shall not constitute a “change in control” or “change of control”
for any purpose. It is an express condition to Participant’s receipt of the Grant that Participant acknowledge and agree
to the terms set forth in the immediately preceding sentence and, by accepting the Grant, Participant does so acknowledge and agree.
Upon the consummation of the Merger, the Grant (and the Units subject thereto) will remain outstanding and be converted into an
award (a “Parent Phantom Award”) of a number of cash-settled Parent phantom stock units equal to the product, rounded
to the nearest whole number, of (i) the number of shares of the Corporation subject to the Grant, multiplied by (ii) the Equity
Award Exchange Ratio. For purposes of the Grant, “Equity Award Exchange Ratio” means the sum of (1) the Common Exchange
Ratio and (2) the quotient of (a) the sum of (i) the Cash Consideration and (ii) the product of the (x) the Preferred Exchange
Ratio and (y) the face value of a Depositary Share, divided by (b) the Average Parent Stock Price (with all capitalized terms in
such definition having the meaning assigned to them in the Merger Agreement). Each Parent Phantom Award shall have the same terms
and conditions that apply to the Grant, except that the Parent Phantom Award shall be settled solely in cash (and shall not represent
the right to receive stock of any kind) with each unit subject to the Parent Phantom Award representing the right to receive an
amount of cash equal to the fair market value of one share of Parent common stock on the applicable vesting date, and shall be
eligible to vest on vesting schedule provided in Section 2 hereof, subject to Participant’s continued employment through
the applicable vesting date, except that in the event of Participant’s termination of employment due to death, Disability
or Retirement, or in the event of Participant’s termination of employment on or after the Merger, by the Corporation, Parent
or any of their respective affiliates, without Cause, the Parent Phantom Award shall vest and be settled within 30 days of the
date of such termination.

 

    7

     

    

 

In
Witness Whereof, the Corporation has caused this Grant to be executed on its behalf by its officer duly authorized to act
on behalf of the Corporation.

 

	Anixter
    International Inc.	 
	a Delaware
    corporation	 
	 	 	 
	By:	Ted
    A. Dosch	
	Its:	Executive Vice President
    - Finance 	
	 	and Chief Financial
    Officer	

 

 

8

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