SEC Contract Filing

Filing Date: 2019-09-19

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d677240dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>STOCK REPURCHASE AND CONVERSION AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS STOCK REPURCHASE AND CONVERSION AGREEMENT (this &#147;<U>Agreement</U>&#148;) is entered into as of September&nbsp;18, 2019 by and
between NCR Corporation, a Maryland corporation (the &#147;<U>Company</U>&#148;), BCP VI SBS ESC Holdco L.P., a Delaware limited partnership (&#147;<U>BCP SBS</U>&#148;), Blackstone NCR Holdco L.P., a Delaware limited partnership (&#147;<U>BCP
Holdco</U>&#148;), BTO NCR Holdings - ESC L.P., a Delaware limited partnership (&#147;<U>BTO ESC</U>&#148;) and BTO NCR Holdings L.P., a Delaware limited partnership (&#147;<U>BTO Holdco</U>&#148; and, together with BCP SBS, BCP Holdco and BTO ESC,
the &#147;<U>Sellers</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Sellers own in the aggregate 512,221 shares of the Series A Convertible Preferred Stock, par value $0.01 per share, of the
Company (the &#147;<U>Series A Preferred Stock</U>&#148;), as of the date hereof; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, each share of Series A Preferred Stock
is convertible into approximately 33.333 shares of common stock, par value $0.01 per share, of the Company (the &#147;<U>Common Stock</U>&#148;), at any time at the option of the Sellers; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Sellers have determined to sell 237,673 shares of the Series A Preferred Stock held by the Sellers to the Company for
cash, and the Company has agreed to repurchase such shares of Series A Preferred Stock held by the Sellers for the consideration and upon the terms and conditions provided in this Agreement (the &#147;<U>Repurchase</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Sellers have determined to convert 274,548 shares of the Series A Preferred Stock held by the Sellers into 9,163,956
shares of Common Stock (the &#147;<U>Conversion</U>&#148;), which includes accrued dividends pursuant to Sections 4(b) and 6(a) of Exhibit A the Company&#146;s Charter (as defined below), pursuant to and in accordance with the charter of the Company
(the &#147;Charter&#148;, including the terms of the Series A Preferred Stock) and as set forth in this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, in
accordance with the Company&#146;s Related Person Transaction Policy, the Committee on Directors and Governance of the Board of Directors of the Company (the &#147;Board&#148;) has determined that the Repurchase and the Conversion, and related
transactions that may be required in connection therewith, be considered by all of the disinterested members of the Board; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Board (subject to certain recusals but including all disinterested members of the Board) has determined it advisable and
in the best interests of the Company to enter into this Agreement, and has authorized and approved the execution of this Agreement and performance of the Repurchase and the Conversion, and related transactions that may be required in connection
therewith, including the payment of the Consideration (as defined herein). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE</B>, in consideration of the mutual
covenants herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows: </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Transaction</U>. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">At the Closing (as defined below)&nbsp;(i) each Seller hereby transfers, assigns, sells, conveys and delivers
to the Company, and the Company hereby purchases from such Seller, the number of shares of Series A Preferred Stock set forth opposite such Seller&#146;s name on </P></TD></TR></TABLE>
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