SEC Contract Filing

Filing Date: 2018-02-26

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>changeofcontrolagreement-m.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2018 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s65A5E972577FCEBE95FBD3880E86AE9A"></a></div><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;text-indent:168px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CHANGE OF CONTROL AGREEMENT&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Exhibit 10.1</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Change of Control Agreement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) between Gulf Island Fabrication, Inc., a Louisiana corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and Kirk J. Meche (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Executive</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is dated effective March 1, 2018 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:center;text-indent:0px;"><font style="padding-bottom:16px;text-align:center;font-family:inherit;font-size:12pt;font-weight:bold;padding-right:96px;">Article I</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">&#32;<br>DEFINITIONS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Whenever the following terms are used in this Agreement, they shall have the meaning specified below unless the context clearly indicates to the contrary. The singular pronoun shall include the plural where the context so indicates. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">1.1</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Accrued Salary</font><font style="font-family:inherit;font-size:12pt;">&#8221; has the meaning provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 2.3(a)(i)</font><font style="font-family:inherit;font-size:12pt;">. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">1.2</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Affiliate</font><font style="font-family:inherit;font-size:12pt;">&#8221; of any Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such Person. For purposes of this definition, &#8220;control&#8221; means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person or entity, whether through the ownership of voting securities or otherwise; and the terms &#8220;controlling&#8221; and &#8220;controlled&#8221; shall have correlative meanings.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">1.3</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Base Salary</font><font style="font-family:inherit;font-size:12pt;">&#8221; has the meaning provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 2.2(a)</font><font style="font-family:inherit;font-size:12pt;">. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">1.4</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Beneficial Owner</font><font style="font-family:inherit;font-size:12pt;">&#8221; (and variants thereof) with respect to a security, means a Person who, directly or indirectly (through any contract, understanding, relationship, or otherwise) has or shares (a) the power to vote, or direct of the voting