Document:

Exhibit

Exhibit 10.34

GOVERNMENT OF PUERTO RICO
PUERTO RICO ELECTRIC POWER AUTHORITY

AMENDMENT NO. 5 TO EMERGENCY MASTER SERVICE AGREEMENT FOR PREPA’S ELECTRICAL GRID REPAIRS - HURRICANE MARIA 

APPEAR

AS FIRST PARTY:  The Puerto Rico Electric Power Authority (PREPA), a public corporation and government instrumentality of the Commonwealth of Puerto Rico, created by Act 83 of May 2, 1941, as amended (“Act 83”), represented in this act by its Executive Director, Justo Luis Gonzalez Torres, of legal age, married, engineer and resident of Juana Díaz, Puerto Rico.

AS SECOND PARTY:  Cobra Acquisitions LLC (Contractor), a limited liability company organized and existing under the laws of the State of Delaware with a place of business at 14201 Caliber Drive, Suite 300, Oklahoma City, Oklahoma 73134, herein represented by Arty Straehla, of legal age, married, and a resident of Oklahoma City, Oklahoma.

WHEREAS:  PREPA is authorized to enter into this agreement by virtue of Section 6(f) of Act 83. 

WHEREAS:  On October 19, 2017, PREPA and the Contractor entered into an Emergency Master Service Agreement for PREPA’s Electrical Grid Repairs - Hurricane Maria (the “Original Contract).  

WHEREAS:  PREPA and the Contractor executed an Amendment No. 1 to the Original Contract dated November 1, 2017, an Amendment No. 2 to the Original Contract dated as of December 8, 2017, an Amendment No. 3 to the Original Contract dated December 21, 2017, an Amendment No. 4 to the Original Contract dated as of January 28, 2018 (the Original Contract, as so amended, the “Contract”). 

WHEREAS:  The United States Army Corps of Engineers (USACE) has been the primary procurement authority for materials necessary for the restoration of power in Puerto Rico, whose procurement channels have faced increasing supply chain pressures and whose procurements must comply with various U.S. laws and regulations such as the Buy American Act (41 U.S.C. §§ 8301-8305). 

WHEREAS:  Various materials required for the restoration of power are only readily available from foreign suppliers under contract with PREPA and who meet PREPA’s specifications.

WHEREAS:  Stateside response efforts and storm restoration requirements in places such as Houston, TX and the State of Florida following Hurricanes Harvey and Irma depleted materials from suppliers available to the USACE, and for these or other supply chain constraints, have limited the availability of materials through the USACE to 
Puerto Rico.

WHEREAS: Contractor may have suppliers that can provide necessary materials at a lower cost, or in a more expedient manner at a still reasonable cost, so as to not further delay the restoration of desperately needed power to the people of Puerto Rico.

WHEREAS:  Hundreds of thousands of people in Puerto Rico are still without electricity, likely requiring still months of restoration efforts, especially in the hardest-to-service parts of the island.

WHEREAS:  The valuable aid provided by the USACE may not last an indefinite amount of time, and likely not until power is fully restored to pre-Hurricane María levels.

WHEREAS:  PREPA must be prepared and able to scale and maintain the necessary level of effort to continue work at current levels should the USACE mission assignment end, and along with it, its 1,000-plus contractors funding.

Amendment No. 5 to Emergency Master Service Agreement for PREPA’S Electrical Grid Repairs - Hurricane María
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WHEREAS: PREPA requires a contract vehicle that provides relief of the restoration effort’s material procurement constraints and allows PREPA the flexibility to quickly scale its own restoration efforts should the need present.

WHEREAS:  PREPA and the Contractor agree that a further amendment to the Contract is necessary.

WITNESSETH

In consideration of the mutual covenants hereinafter stated, the Parties agree as follows:

TERMS AND CONDITIONS

		
	1.
	PREPA and the Contractor agree that Article 3 of the Original Contract is hereby amended by striking the dollar amount of “$445,429,800 (Contract Amount)” appearing on the seventh (7th) line of such article and replacing it with the following dollar amount: “$945,429,800 (Contract Amount)”.

		
	2.
	PREPA and the Contractor agree that the first paragraph of Article 14 of the Contract is hereby amended by striking the first paragraph thereof and replacing it with the following:

		
	“1)
	Notwithstanding anything to the contrary in this Contract regarding its term, PREPA may, at any moment, terminate, cancel or accelerate its expiration, after giving the Contractor not less than thirty (30) days prior written notice, for any or no reason, when in PREPA’s judgment such action responds to its best interest. PREPA may terminate this Agreement immediately at any time in cases of gross negligence by the Contractor upon written notice to Contractor specifying such gross negligence.”

		
	3.
	Materials.  The Parties agree that the Contractor may purchase and provide PREPA with materials needed for the restoration work of the electrical system (the “Materials”), subject to the following terms and conditions:

		
	(a)
	Prior to placing the order for any Materials, the Contractor shall provide to PREPA a schedule of the costs of such Materials on a pass-through basis and the cost for transportation, for final review and approval by PREPA.  No purchases shall be made by Contractor on behalf of PREPA except with prior written authorization from PREPA;

		
	(b)
	All Materials will comply with specifications provided by PREPA.

		
	(c)
	All Material procurements by Contractor must comply with Federal regulations under the Code of Federal Regulations Title 2 Sections 200.317 to 200.321, 200.326, 200.333 and Appendix II.

		
	(d)
	Contractor will complete all purchases in accordance with all Puerto Rico laws, rules and regulations, including but not limited to Act 83, Regulation 8518 issued by PREPA, known as the Bid Regulation (Reglamento de Subastas), the Procedure for Purchases by Request for Quotes or Offers Exempt from Formal Bid Process (the “Procedures for Exempt Purchases”), and Chapter 500 of PREPA’s Administrative Manual (Purchases), as applicable.  As provided Act 83 and the Bid Regulation, a bid process will not be required when, due to an emergency situation, immediate delivery of certain materials is required.  In such cases, purchases shall be made by Contractor in accordance with the provisions of the Procedures for Exempt Purchases.  PREPA will provide written notice to the Contractor when Procedures for Exempt Purchases is authorized.

		
	(e)
	PREPA will reimburse the Contractor for (i) the actual cost of the Materials on a pass-through basis and (ii) transportation costs.

		
	(f)
	Any profit of Contractor on transportation of materials must not be calculated on a “cost plus a percentage of cost” basis. 

		
	(g)
	The Contractor will deliver the Materials to PREPA’s General Warehouse in Palo Seco or any other location identified by PREPA in writing at the time the order for the Materials is placed.  All risk of loss of the Materials 

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will transfer to PREPA upon delivery to the location identified by PREPA.  Title shall pass to PREPA upon payment in full of all amounts due in connection with the Materials.

		
	(h)
	The Contractor shall use its reasonable efforts to obtain the lowest prices available, while considering manufacturers capacity and/or supplier ability to meet the demand of the work schedules which may require procurement from different manufacturers and suppliers. 

		
	(i)
	For any Materials procured under Emergency Procedures, PREPA will certify that each material procurement was necessary due to emergency or exigent circumstances and complies with PREPA’s policies and regulations for emergency procurement.  

		
	(j)
	It is the responsibility of the Contractor to maintain records sufficient to detail the history of procurement.  These records will include, but are not necessarily limited to the following: (i) rationale for the method of procurement, (ii) rationale for the election of contract type, (iii) criteria for contractor selection or rejection, (iv) basis for the contract price, (v) documentation of reasonableness of the costs based on multiple quotations and/or pricing solicitations whenever possible to support the costs claimed, (vi) evidence provided by PREPA of emergency situations and immediate need for materials to support that such purchase is exempt from a formal bid process, as required under Act 83, (vii) other evidence of compliance with the applicable purchasing procedures and (viii) any other documentation required by federal or state law.  Upon request by PREPA, Contractor shall deliver to PREPA a file containing all documentation described herein.

		
	(k)
	For any Materials to be procured by the Contractor, PREPA shall review the procurement and will provide certification regarding procurement compliance with Section 15(b) (2) of Act No. 83 of May 2, 1941, as amended, PREPA’s internal policies, and all required statutory and contractual provisions.  

		
	4.
	The Contractor shall submit invoices for Materials separately from invoices for other work performed under the Contract.  All invoices will be delivered in compliance with the provisions of Section 3 of the Contract, as amended.

		
	5.
	By signing below, the Contractor certifies that no other Federal, State or local agencies, non-insurance agency or any other entity has paid or will pay Contractor for Material costs paid to Contractor by PREPA.

		
	6.
	The Parties agree that the third paragraph of Article 3, Consideration, of the Original Contract is hereby stricken and replaced with the following four paragraphs: 

“PREPA will review each invoice and if it is in compliance with the requirements set forth in the Contract, PREPA will issue a preliminary recommendation approving the invoice within seven (7) calendar days from when it is received. If PREPA recommends preliminary approval, PREPA will pay an amount equal to 80% of such invoice amount within three (3) calendar days of the approval. If PREPA makes a preliminary recommendation of disapproval, PREPA will return the invoice to the Contractor within three (3) calendar days with a written explanation for such disapproval.  Contractor shall have the right to resubmit for payment any invoices that do not receive a preliminary recommendation of approval, and such invoices will be processed in accordance with this paragraph.

PREPA will process for payment the remaining 20% of each invoice once the work associated with that specific invoice has been completed by Contractor and accepted by PREPA.  PREPA will make commercially reasonable efforts to issue such acceptance of work within 15 calendar days from when such invoice is received.  In any event, PREPA will either accept and make payment to Contractor or reject such invoice within 30 calendar days from when it is received.  If PREPA rejects such invoice, PREPA will return the invoice to the Contractor within three (3) calendar days with a written explanation for such rejection.  Contractor shall have the right to resubmit for payment any rejected invoice, and such invoices will be processed in accordance with this paragraph.  A finance charge  of 1% per month shall be due on payments received after the date due pursuant to the schedule described above.

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The Contractor further warrants that work for which Contractor has received payments in full from PREPA shall be free and clear of liens, claims, security interests or encumbrances in favor of the Contractor and its Subcontractors or other persons or entities making a claim by reason of having provided labor, materials and equipment relating to the work.

Payment for Materials and their Transportation

The Contractor shall submit the invoices of the Materials and their transportation costs on or before delivery of, and PREPA’s receipt of, the Materials to the location designated by PREPA at the time the order is placed. The Contractor must submit with each invoice the evidence of payment (or terms of payment indicating an obligation to pay) for the Materials and their transportation.  PREPA will review each invoice and if it is in compliance with the schedule of Materials and their transportation as approved by PREPA, PREPA shall pay such invoice within ten (10) calendar days from the date of delivery of the Materials and the receipt of such by PREPA. 

		
	7.
	PREPA hereby acknowledges and accepts that the Contractor has delivered to PREPA the certifications required under Executive Orders OE-1991-24 and OE-1992-52 as well as a copy of Contractor’s Certificate of Formation.

		
	8.
	PREPA hereby certifies that no public officer or employee of PREPA who has the power to approve or authorize contracts has evaluated, considered, approved or authorized any contract between PREPA and Contractor in which he/she or any member of his/her family unit has or has had direct or indirect economic interest during the last four (4) years prior to his/her holding office.

		
	9.
	The definition of “Contract” contained in Article 2, paragraph 3) of the Original Contract is hereby amended by deleting therefrom the following text inadvertently appearing on lines two and three thereof: “, which constitute an amendment and supersedes to that contract entered into by the parties on September 26, 2017,” 

		
	10.
	PREPA shall not approve the purchase of any Materials under this Amendment until this Amendment is properly registered in the Office of the Controller of the Government of Puerto Rico.

11.    The Contractor will neither increase nor decrease its total staffing resources more than 10% from the level agreed to in Exhibit 1-B Contractor’s Rate Schedule of 882 personnel without the written consent of PREPA.

		
	12.
	Employees not to Benefit:  The Parties hereby declare that, to the best of their knowledge, no public officer or employee of the Commonwealth of Puerto Rico, its agencies, instrumentalities, public corporations or municipalities or employee of the Legislative or Judicial branches of the Government has any direct or indirect interest in the present Agreement.  The Contractor certifies that neither it nor any of its partners, directors, executives, officers, and employees receives salary or any kind of compensation for the delivery of regular services by appointment in any agency, instrumentality, public corporation, or municipality of the Commonwealth of Puerto Rico.

		
	13.
	PREPA hereby certifies that this Amendment has been approved by the delegate of the Governor of Puerto Rico, as required under Act 3-2017 and Office of the Chief of Staff Memorandum No. 2017-001; Office of Management and Budget Circular Letter 141-17.

		
	14.
	Except as set forth herein, the Contract remains in full force and effect in accordance with its terms.

Amendment No. 5 to Emergency Master Service Agreement for PREPA’S Electrical Grid Repairs - Hurricane María
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IN WITNESS WHEREOF, the Parties hereto have executed this Amendment on and effective as of this 27th day of February, 2018.
Puerto Rico Electric Power Authority            Cobra Acquisitions LLC

_/s/_Justo L. Gonzalez Torres                /s/ Arty Straehla____________
Justo L. Gonzalez Torres                Arty Straehla 
Executive Director                    Chief Executive Officer  
Employer Social Security XX-XXXXXXX            Employer ID Number XX-XXXXXXX

/s/ Keith Ellison_____________

Keith Ellison
President, Cobra Acquisitions LLCExhibit

Exhibit 10(BB)

VF CORPORATION MANAGEMENT INCENTIVE COMPENSATION PLAN
As Amended and Restated Effective February 13, 2018

I. INTRODUCTION
The objective of the Management Incentive Compensation Plan (the “Plan”) is to provide incentive bonus compensation to selected members of the management team of VF Corporation (the “Company”) upon the achievement of performance goals established for the Company or respective business unit for each fiscal year. The Plan is intended to provide an additional means to attract and retain talented executives, and to link a significant element of each participant’s compensation opportunity to measures of the Company’s or respective business unit performance, in order to motivate the Company’s management team toward an even greater contribution to the results of the Company.
II. DEFINITIONS
A.    COMPENSATION COMMITTEE - The Talent and Compensation Committee of the Board of Directors of the Company, the composition and processes of which are governed by the Committee’s Charter.  
             
B.    PARTICIPANT - An employee of the Company or a business unit who has been designated as a member of the management team of the Company and selected for participation in a given Plan Period by the Company.
             
C.    PERFORMANCE OBJECTIVE - The performance objective or objectives established by the Compensation Committee for each Plan Period, which must be reached as a condition to the earning and payment of an Incentive Award for that Plan Period. The Performance Objective shall be comprised of specified corporate, business group or divisional levels of performance relating to one or more of the following performance criteria: earnings per share; net earnings or net income; pretax earnings; profit before taxes; operating income; net sales or net revenues; net sales or net revenues from existing businesses; net sales or net revenues from acquired businesses, market share; balance sheet measurements; cash flow; cash return on assets; return on capital; book value; shareholder return, or return on average common equity; or such other measurements as the Compensation Committee may establish, including individual performance goals. 
             
D.    PLAN PERIOD - The Company’s fiscal year, provided, however, that the Compensation Committee may specify a different Plan Period to meet unusual circumstances.

E.    RETIREMENT - Employment separation from the Company or any of its business units after attaining age 55 and at least 10 years of service with the Company and/or any of its business units. 

F.    BUSINESS UNIT - Any majority-owned business organization of the Company or its direct or indirect subsidiaries, including but not limited to corporations, limited liability companies, partnerships, and any “subsidiary corporation” as defined in Section 424(f) of the Internal Revenue Code (the “Code”) that is a subsidiary of the Company.
             
G.    TARGET INCENTIVE AWARD - The target incentive bonus established by the Company for a Participant for a Plan Period.
III. OPERATION OF THE PLAN
A.    ESTABLISHMENT OF TARGET INCENTIVE AWARDS AND PERFORMANCE OBJECTIVES -The Company will establish in writing a Target Incentive Award for each Participant for the Plan Period. The Compensation Committee will establish the Performance Objectives and a range of values for the Performance Objectives for the Plan Period, with each such value corresponding to a percentage of the Target Incentive Award that may be earned for achievement of the Performance 

Objectives (the “Incentive Awards”). For example, the Compensation Committee may establish a threshold level of achievement of each Performance Objective which, if not attained, will result in no Incentive Award, and the Committee may likewise establish a “stretch” level of achievement of each Performance Objective which, if attained, will result in an Incentive Award greater than 100% of the Target Incentive Award.  In establishing the level of Performance Objectives to be attained and in determining the actual level of achievement of each Performance Objective, the Compensation Committee may disregard or offset the effect of such factors as extraordinary and/or nonrecurring items as determined in accordance with generally accepted accounting principles, changes in accounting standards, differences between actual foreign currency exchange rates during a Plan Period and the foreign currency exchange rates assumed in the Company’s financial plan  for the Plan Period as presented to the Board of Directors and the Compensation Committee,  the Company’s consolidation entries directly impacting the business units and other unusual items or circumstances approved by the Compensation Committee and/or Board. 
B.    CALCULATION OF INCENTIVE AWARDS - Incentive Awards will be paid to each Participant by reference to the actual attainment of the Performance Objectives, as determined in accordance with Section III.A above, relative to the Performance Objective levels established by the Compensation Committee for the Plan Period. The Company may exercise discretion to increase, or decrease, the amount of the Incentive Award paid to any Participant based on Management’s assessment of the individual’s performance or other considerations deemed relevant by the Company, provided that, in the case of Participant who is an executive officer, any such discretion must be exercised by the Compensation Committee.

C.    APPROVAL OF AGGREGATE INCENTIVE AWARDS - The aggregate amount of all Incentive Awards paid for any Plan Period shall be subject to approval of the Compensation Committee and the Board of Directors.   
             
D.    PAYMENT OF INCENTIVE AWARDS - Payment of Incentive Awards for a Plan Period will be made within thirty days following the Compensation Committee’s certification in writing as to the level of Performance Objective attained for the Plan Period (but not later than seventy-five days following the end of the Plan Period), except to the extent (i) the Committee has specified that Incentive Awards will be paid on a deferred basis or subject to additional conditions to payment, or (ii) payment has been deferred by the Participant pursuant to any Company deferred compensation plan then in effect.  Deferrals under such plans shall be mandated or permitted at the election of the Participant only in compliance with Code Section 409A.  The specific rules applicable to the timing of deferral elections and the permitted distribution dates for deferrals are incorporated by reference in this Plan from the 1996 Stock Compensation Plan, as amended and restated, including Section 12.10 of that plan and any applicable Exhibit thereto setting forth such rules.   

IV. CONTINGENCIES

A.EMPLOYMENT TERMINATION - Except as provided in Sections IV.B, IV.C and IV.E regarding permanent disability, death and Retirement, or unless the Company exercises its discretion under Section IV.D, a Participant who terminates employment voluntarily or who is terminated involuntarily prior to his or her receipt of an Incentive Award payment under this Plan forfeits all such payments, except as provided under the terms of any required or permitted deferral of such payments. A Participant who is employed by the Company at the end of a Plan Period shall not be deemed or considered, solely for that reason, to have accrued any right to or vested in an Incentive Award for the Plan Period.
               
B.    PERMANENT DISABILITY - A Participant whose employment with the Company is terminated by reason of permanent disability is eligible to earn an Incentive Award for the Plan Period in which he or she becomes permanently disabled.  The Incentive Award payment will be calculated as if employment had continued throughout the Plan Period based on actual performance for the Plan Period (and subject to the Company's right under Section III.B to exercise discretion), but, unless otherwise determined by the Company, the amount of the Incentive Award payable will be prorated according to the Participant’s actual length of active service during the Plan Period.
             

C.    DEATH - The estate of a Participant whose employment with the Company is terminated by reason of death during a Plan Period is eligible to earn an Incentive Award for the Plan Period in which death occurs. The Incentive Award payment will be calculated as if employment had continued throughout the Plan Period based on actual performance for the Plan Period (and subject to the Company's right under Section III.B to exercise discretion), but, unless otherwise determined by the Company, the amount of the Incentive Award payable will be prorated according to the Participant’s actual length of active service during the Plan Period.

D.    COMPANY DISCRETION - The Company may determine that a terminated employee who had been a Plan Participant for part or all of the Plan Period will be eligible to earn an Incentive Award for the Plan Period if, in the Company’s judgment, the earning and payment of such Incentive Award would be in the best interest of the Company. Subject to the Company’s discretion under Section III.B above, any such Incentive Award payment will be calculated as if employment had continued throughout the Plan Period based on actual performance for the Plan Period, but, unless otherwise determined by the Company, payment of the Incentive Award will be prorated according to the Participant’s actual length of active service during the Plan Period.  In the case of Participant who is an executive officer, any determination or discretion under this Section IV (including the other subsections of this Section IV) must be made or exercised by the Compensation Committee.

E.    RETIREMENT - A Participant whose Retirement occurs prior to the distribution of an Incentive Award for a Plan Period remains eligible to earn an Incentive Award for the Plan Period. At the Company’s discretion, the Incentive Award payment may be calculated as if Retirement had not occurred based on actual performance for the relevant Plan Period (and subject to the Company's right under Section III.B to exercise discretion), but, unless otherwise determined by the Company, with payment prorated according to the Participant’s actual length of active service during the Plan Period.

F.    TIMING RULE IN CASE OF AWARDS MADE FOLLOWING TERMINATION - Incentive Awards payable to a Participant (or his or her estate) following termination of employment shall be paid at the time other Incentive Awards are payable to continuing employee Participants in respect of the relevant Plan Period but in any event by the March 15 following the end of the Plan Period.  If the Participant's rights relating to an Incentive Award cause it to be a deferral of compensation under Code Section 409A, no acceleration of the time of payment will be permitted to the extent necessary to comply with applicable rules under Code Section 409A.

G.    ADDITIONAL FORFEITURE CONDITION.  Incentive Awards shall be subject to the Company's "Forfeiture Policy For Equity and Incentive Awards In the Event of Restatement of Financial Results" as implemented in February 2008 or, if later modified or replaced by a similar policy (regardless of the title of such policy), as in effect thereafter at the time the Participant's Incentive Award was authorized for any such Plan Period. Such Policy imposes conditions on a Participant's right to receive payments under an Incentive Award and right to retain previous payments in settlement of an Incentive Award (a so-called "clawback") in certain circumstances if the Company's financial statements are required to be restated and in other specified circumstances.
V. ADMINISTRATION
The Compensation Committee shall have the authority and responsibility for all aspects of administration of the Plan, including but not limited to:

A.    Interpretation of the Plan.
             
B.    Establishment of the Performance Objectives and related terms under Section III. A. for each Plan Period.
             
C.    Certification in writing as to the level of each Performance Objective attained for each Plan Period, and that other material terms upon which payment of Incentive Awards was conditioned have been satisfied.
             
D.    Final approval of aggregate payments to Participants.
             

The Compensation Committee may delegate to specified officers or employees of the Company authority to perform ministerial functions under the Plan.  In furtherance of this authority, unless otherwise limited by further action of the Compensation Committee, the Committee has delegated to the Chief Executive Officer and the Vice President-Human Resources the authority (unless such authority is specifically reserved to the Committee hereunder) to take actions under the Plan on behalf of the Company relating to Participants who are not executive officers, including the selection of Participants who are not executive officers and the establishment of Target Incentive Awards for each such Participant under Section III.A. 

VI. AMENDMENT AND TERMINATION
The Compensation Committee shall have the power to amend, modify, suspend or terminate any part of the Plan at any time; provided, however, that any such change to the Plan that is beyond the authority of the Compensation Committee delegated by the Board of Directors shall be subject to the approval of the Board of Directors of the Company. 
VII. GENERAL PROVISIONS
A.    NO RIGHT TO EMPLOYMENT - Eligibility to receive an Incentive Award or the grant or payment of an Incentive Award shall not be construed as giving a Participant the right to be retained in the employ of the Company, nor will it affect in any way the right of the Company to terminate such employment at any time, with or without cause. In addition, the Company may at any time dismiss a Participant from employment free from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan.
             
B.    NO LIMIT ON OTHER COMPENSATION ARRANGEMENTS - Nothing contained in the Plan shall prevent the Company from adopting or continuing in effect other or additional compensation arrangements, and such arrangements may be either generally applicable or applicable only in specific cases.
             
C.    TAX WITHHOLDING - The Company will deduct from any Incentive Award or other payment to a Participant any Federal, state, or local withholding or other tax or charge which the Company is then required to deduct under applicable law.
             
D.    NON-TRANSFERABILITY- The opportunity to earn an Incentive Award, any resulting Incentive Award, and any other purported right hereunder, shall be non-assignable and non-transferable, and shall not be subject to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, hypothecation or garnishment by a Participant's creditors or  to or in favor of any party other than the Company or a subsidiary or subject to any lien, obligation, or liability of the Participant to any party other than the Company or a subsidiary.
             
E.    GOVERNING LAW - The validity, construction and effect of the Plan or any Incentive Award hereunder shall be determined in accordance with the laws of the State of North Carolina, without giving effect to principles of conflicts of laws.
             
F.    SEVERABILITY - If any provision of the Plan or any Incentive Award is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would disqualify the Plan or any Incentive Award under any law deemed applicable by the Compensation Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Compensation Committee, materially altering the purpose or intent of the Plan or the Incentive Award, such provision shall be stricken as to such jurisdiction or Incentive Award, and the remainder of the Plan or any such Incentive Award shall remain in full force and effect.
             
G.    NO TRUST OR FUND CREATED - Neither the Plan nor any Incentive Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company and a Participant or any other person. To the extent that any Participant or other person acquires a right to receive payments from the Company pursuant to the Plan, such right shall be no greater than the right of any unsecured general creditor of the Company.
             

H.    HEADINGS - Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof.
VIII. EFFECTIVE DATE
The Plan is effective initially for the fiscal year ending January 3, 2009.  This amendment and restatement of the Plan is effective for awards based on performance in any Plan Period beginning after December 30, 2017.

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