SEC Contract Filing

Filing Date: 2018-10-12

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d635579dex101.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>SHARE REPURCHASE AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THIS SHARE
REPURCHASE AGREEMENT (this &#147;<U>Agreement</U>&#148;) is made and entered into as of October&nbsp;9, 2018, by and among Praesidium Investment Management Company LLC, a Delaware limited liability company (&#147;<U>Praesidium</U>&#148;) and Quanex
Building Products Corporation, a Delaware corporation (the &#147;<U>Purchaser</U>&#148;). Each of Kevin Oram and Peter Uddo (the &#147;<U>Manager Principals</U>&#148;) is also executing this Agreement for purposes of Section III of this Agreement.
</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:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WHEREAS, Praesidium
beneficially owns 3,480,180 shares of common stock, par value $0.01 per share, of the Purchaser (the &#147;<U>Common Stock</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WHEREAS,
Praesidium (on behalf of its investment advisory clients owning shares of Common Stock (&#147;<U>Selling Clients</U>&#148;)) desires to sell to the Purchaser, and the Purchaser desires to purchase from Praesidium (on behalf of the Selling Clients),
1,900,000 shares of Common Stock on the terms and conditions set forth in this Agreement (the &#147;<U>Repurchase Transaction</U>&#148;); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WHEREAS,
the Purchaser and each of Praesidium and the Manager Principals are agreeing to certain covenants in connection with the Repurchase Transaction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">NOW,
THEREFORE, in consideration of the premises and the agreements set forth below, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: </P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>I.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>PURCHASE AND SALE OF SHARES </B></P></TD></TR></TABLE>
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<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"><U>Purchase</U>. Subject to the terms and conditions of this Agreement, at the Repurchase Closing (as defined
below), Praesidium (on behalf of the Selling Clients) shall sell, assign, transfer, convey and deliver to the Purchaser, and the Purchaser shall purchase, acquire and accept from Praesidium (on behalf of the Selling Clients), 1,900,000 shares of
Common Stock in the aggregate (such number of shares of Common Stock, the &#147;<U>Repurchase Shares</U>&#148;). The purchase price for each Repurchase Share shall be equal to $16.86 (the &#147;<U>Purchase Price</U>&#148;). </P></TD></TR></TABLE>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">B.</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>Closing</U>. Subject to satisfaction of (a)&nbsp;the parties&#146; closing delivery obligations set forth in
Section I.C. below and (b)&nbsp;the Injunction Condition, the closing of the Repurchase Transaction (the &#147;<U>Repurchase Closing</U>&#148;) will take place on October&nbsp;9, 2018 or at such other time as the Purchaser and Praesidium mutually
agree (the &#147;<U>Closing Date</U>&#148;). The Repurchase Closing will be effective as of 12:01 a.m., New York City time, on the Closing Date. The </P></TD></TR></TABLE>
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&#147;<U>Injunction Condition</U>&#148; shall mean there is no injunction or other order, judgment, law, regulation, decree or ruling or other legal restraint or prohibition having been issued,
enacted or promulgated by a court or other governmental authority of competent jurisdiction that would have the effect of prohibiting or preventing the consummation of the transactions contemplated hereunder. </TD></TR></TABLE>
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