SEC Contract Filing

Filing Date: 2018-07-05

Document Content:
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<TYPE>EX-10.3
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<FILENAME>ex10-3.htm
<DESCRIPTION>EX-10.3
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<div style="TEXT-ALIGN: right; FONT-WEIGHT: bold">Exhibit 10.3</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ADVISORY AGREEMENT</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">THIS ADVISORY AGREEMENT (&#8220;Agreement&#8221;) executed on July 3, 2018 and effective as of January 25, 2018 (&#8220;Effective Date&#8221;), by and between Xplore Technologies Corp. (the &#8220;Company&#8221;), and Thomas B. Pickens III (&#8220;Adviser&#8221;) with reference to the following.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">WHEREAS, Adviser is currently the Chairman of the Board of Directors of the Company (the &#8220;Board&#8221;);</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">WHEREAS, [as of the date hereof], the board of directors of the Company has resolved to&#160; enter into that certain Agreement and Plan of Merger among Zebra Technologies Corporation (&#8220;Parent&#8221;), Wolfdancer Acquisition Corp. (&#8220;Sub&#8221;) and the Company (the &#8220;Merger Agreement&#8221;) wherein, upon consummation of the Offer (as defined in the Merger Agreement), Sub is to be merged with and into the Company with the Company surviving the merger (the &#8220;Merger&#8221;) and becoming, upon consummation of the transactions set forth in the Merger Agreement, a wholly-owned subsidiary of Parent; and</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">WHEREAS, Adviser has facilitated and provided significant strategic advice to the Company in connection with the Merger, and the Board has determined to compensate Adviser for his advisory services in the lump-sum cash amount of $4,000,000 (the &#8220;Advisory Fee&#8221;), payable contingent upon and promptly following the completion of the Merger or any other transaction that results from any Company Acquisition Proposal (as such term is defined in the Merger Agreement) (any such transaction, including the Merger, a &#8220;Transaction&#8221;).</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN-BOTTOM: 12pt"><font style="FONT-VARIANT: small-caps; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Service as an Adviser</u></font>. From and after the Effective Date and concluding upon the completion of the term of this Agreement pursuant to Section 2 below, the Adviser shall provide such advisory services to the Board and the Chief Executive Officer of the Company, in connection with the Merger or otherwise, as the Board shall direct.&#160; Such services shall be on a non-exclusive basis and without limiting the Adviser&#8217;s ability to engage in other business, personal and/or charitable engagements. The Adviser shall perform services hereunder as an independent contractor and not as an employee.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN-BOTTOM: 12pt"><font style="FONT-VARIANT: small-caps; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Term</u></font>. This Agreement shall terminate upon the payment of all amounts due to be paid to the Adviser under Section 3.&#160; The Adviser may terminate this Agreement, with or without cause, upon written notice.&#160; The Company shall not be entitled to recoup any monies paid to the Adviser as set forth in Section 3 below should Adviser terminate the Agreement from and after the completion of a Transaction.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN-BOTTOM: 12pt"><font style="FONT-VARIANT: small-caps; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><a name="_Hlk518139799"><!--Anchor--></a><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Compensation</u></font>. Adviser shall be paid the Advisory Fee for his availability and services hereunder. The Advisory Fee shall be due and owing and paid to the Adviser on the same schedule and under the same terms and conditions as apply to the payment of Transaction&#160; consideration to the stockholders of the Company in respect of their equity interests in the Company. The Advisory Fee will be paid by wire transfer of immediately available funds, to the account indicated to the Company by the Adviser, net of any applicable withholding and other taxes