EXHIBIT 10.1
NBC HOLDINGS CORP.
2005 RESTRICTED STOCK PLAN
RESTRICTED STOCK PURCHASE AGREEMENT
This RESTRICTED STOCK PURCHASE AGREEMENT (this "AGREEMENT") is made as
of this 31st day of March, 2006 (the "GRANT DATE"), between NBC Holdings Corp.,
a Delaware corporation (the "COMPANY"), and Xxxx Xxxxxxxx (the "PURCHASER").
WHEREAS, the Purchaser is an employee of the Company whose participation
is considered by the Company to be important for its growth; and
WHEREAS, the Company desires to sell to the Purchaser, and the Purchaser
desires to purchase from the Company, 1,400 shares of the Company's Common
Stock, par value $.001 per share (the "PURCHASED SHARES"), all in accordance
with the terms and conditions set forth in this Agreement and the Plan described
below.
NOW, THEREFORE, in consideration of the promises and mutual covenants
herein set forth, and other good and valuable consideration, receipt of which is
hereby acknowledged, the parties hereto hereby mutually covenant and agree as
follows:
1. RELATIONSHIP TO PLAN. This Agreement is entered into pursuant to the
Company's 2005 Restricted Stock Plan (the "PLAN"), and is in all respects,
subject to the terms and conditions of the Plan, a copy of which has been
provided to the Purchaser (the receipt of which the Purchaser hereby
acknowledges). The Purchaser hereby acknowledges that the Purchaser's purchase
of the Purchased Shares is subject to all of the terms and provisions of the
Plan. Capitalized terms used and not otherwise defined in this Agreement shall
have the respective meanings ascribed thereto in the Plan. The Purchaser further
agrees that all decisions under and interpretations of the Plan by the Company
shall, subject to the terms of the Plan, be final, binding and conclusive upon
the Purchaser and the Purchaser's successors, permitted assigns, heirs and legal
representatives.
2. SALE OF STOCK. The Company hereby agrees to sell to the Purchaser,
and the Purchaser hereby agrees to purchase from the Company, the Purchased
Shares, at the price of $0.01 per share, for an aggregate purchase price of
$14.00.
3. PAYMENT OF PURCHASE PRICE. The aggregate purchase price for the
Purchased Shares shall be paid to the Company by delivery to the Company at the
time of execution of this Agreement of cash in an amount equal to such aggregate
purchase price.
4. ISSUANCE OF CERTIFICATE FOR THE PURCHASED SHARES. Upon receipt by the
Company of full payment of the purchase price as described in Section 3, the
Company shall issue in the name of the Purchaser duly executed certificates
evidencing the Purchased Shares (the "CERTIFICATES"), which Certificates shall
be endorsed with the legends required under (i) the Stockholders Agreement,
dated as of March 4, 2004, by and among the Company and the Stockholders (as
such term is defined therein) (the "STOCKHOLDERS AGREEMENT"), (ii) the Stock
Repurchase Agreement, dated as of the date hereof, between the Company and the
Purchaser (the "REPURCHASE AGREEMENT") and (iii) the Plan. The Purchased Shares
shall be held in escrow in accordance with the terms of the Repurchase
Agreement.
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5. AGREEMENT TO ENTER INTO STOCKHOLDERS AGREEMENT AND REPURCHASE
AGREEMENT. The Purchaser agrees, to the extent not already a party thereto, to
become a party to the Stockholders Agreement by signing an instrument of
adherence to the Stockholders Agreement, and the grant of the Award and delivery
of the Certificates is made expressly conditioned on such execution by the
Purchaser of the Stockholders Agreement. The Purchaser agrees to execute and
deliver the Repurchase Agreement and the grant of the Award and delivery of the
Certificates is made expressly conditioned on such execution by the Purchaser of
the Repurchase Agreement.
6. REPRESENTATIONS AND WARRANTIES OF THE PURCHASER.
(a) The Purchaser hereby represents and warrants to the Company, its
officers, directors, agents, and employees as follows:
(i) That the Purchaser has had an opportunity to ask questions of
and receive answers from the authorized representatives of the Company, and to
review any relevant documents and records concerning the business of the Company
and the terms and conditions of this investment, and that any such questions
have been answered to the Purchaser's full satisfaction.
(ii) That the Purchaser has such knowledge and experience in
financial and business matters that the Purchaser is capable of evaluating the
merits and risks of an investment in the Company.
(iii) That the Purchased Shares are being acquired for the
Purchaser's own account for investment and not with a view toward subdivision,
resale, or redistribution thereof in a manner prohibited under the Securities
Act of 1933, as amended (the "ACT"). Other than the Stockholders Agreement and
the Repurchase Agreement, the Purchaser has no contract, undertaking, agreement,
understanding, or arrangement with any person to sell, transfer, or pledge to
any person any part or all of the Purchased Shares for which the Purchaser
hereby subscribes, or any interest therein, and has no present plans to enter
into the same.
(iv) That the Purchaser is an "ACCREDITED INVESTOR" as defined in
Regulation D of the Act by virtue of the Purchaser's being an executive officer
or director of the Company, if not otherwise.
(v) That all information which the Purchaser has provided (or
will provide) concerning the Purchaser and the Purchaser's financial position,
is correct and complete as of the date of this Agreement.
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(b) The Purchaser acknowledges that the Company and its officers,
directors, employees, and agents are relying on the truth and accuracy of the
representations and warranties set forth in Section 6(a) in connection with the
offering of Purchased Shares for sale to the Purchaser without having first
registered the Purchased Shares under the Act. All representations, warranties,
and covenants contained in this Agreement shall survive the acceptance of this
Agreement and the sale of the Purchased Shares. Notwithstanding the foregoing,
however, no representation, warranty, acknowledgment, or agreement made herein
by the Purchaser shall in any manner be deemed to constitute a waiver of any
rights granted to the Purchaser under federal or state securities laws.
7. INVESTMENT INTENT.
(a) The parties agree that none of the Purchased Shares or any
beneficial interest therein shall be sold, transferred, assigned, pledged,
encumbered or otherwise disposed of in any way (including, without limitation,
by operation of law, except upon the death of Purchaser) unless and until (i)
such Purchased Shares or such beneficial interest, as the case may be, proposed
to be sold, transferred, assigned, pledged, encumbered or otherwise disposed of
are registered pursuant to an effective registration filed with the Securities
and Exchange Commission pursuant to the Act or (ii) if required by the Company,
the Company shall have received, at the Purchaser's expense, an opinion, in form
and substance satisfactory to the Company, from legal counsel satisfactory to
the Company to the effect that the sale, transfer, assignment, pledge,
encumbrance or other disposition of such Purchased Shares or such beneficial
interest, as the case may be, does not require registration under the Act or any
applicable state securities laws.
(b) The Purchaser understands and agrees that neither the Company nor
any agent of the Company shall be under any obligation to recognize any transfer
of any of the Purchased Shares if, in the opinion of counsel for the Company,
such transfer would result in violation by the Company of any federal or state
law with respect to the offering, issuance or sale of securities.
8. SECTION 83(B) ELECTION. The Purchaser has reviewed with the
Purchaser's own tax advisors the federal, state, local and foreign tax
consequences of this investment and the transactions contemplated by this
Agreement. The Purchaser is relying solely on such advisors and not on any
statements or representations of the Company or any of its agents. The Purchaser
hereby agrees to deliver to the Company a signed copy of any instrument, letter
or other document the Purchaser may execute and file with the Internal Revenue
Service evidencing the Purchaser's election under Section 83(b)(2) of the
Internal Revenue Code of 1986, as amended, to treat the Purchaser's receipt of
the Purchased Shares hereunder as includable in the Purchaser's gross income in
the year of receipt. The Purchaser shall deliver a copy of any such instrument
of election to the Company no later than the date on which any such election is
required to be made in accordance with the appropriate provisions of the
Internal Revenue Code or applicable Regulations thereunder. THE PURCHASER
ACKNOWLEDGES THAT IT IS THE PURCHASER'S SOLE RESPONSIBILITY AND NOT THE
COMPANY'S TO TIMELY FILE THE ELECTION UNDER SECTION 83(b), EVEN IF THE PURCHASER
REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON THE
PURCHASER'S BEHALF.
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9. GENERAL PROVISIONS.
(a) This Agreement shall be governed by the internal substantive laws of
the State of Delaware and shall be binding upon the heirs, personal
representatives, executors, administrators, successors and permitted assigns of
the parties.
(b) This Agreement together with the Plan supersedes all prior written
and oral agreements and understandings between the parties and represents the
entire agreement between the parties with respect to the subject matter hereof
and may only be modified or amended in writing signed by both parties.
(c) Any notice, demand, request or other communication hereunder to any
party shall be deemed to be sufficient if contained in a written instrument
delivered in person or duly sent by first class registered, certified or
overnight mail, postage prepaid, or telecopied with a confirmation copy by
regular, certified or overnight mail, addressed or telecopied, as the case may
be, to such party at the address or telecopier number, as the case may be, set
forth below or such other address or telecopier number, as the case may be, as
may hereafter be designated in writing by the addressee to the addressor listing
all parties:
if to the Company, to:
NBC Holdings Corp.
x/x Xxxxxx Xxxxxxxx Xxxxxxx
Xxxx Xxxxxxx Xxxxx, 00xx Xxxxx
000 Xxxxxxxxx Xxxxxx
Xxxxxx, XX 00000
Telecopier No.: 000-000-0000
with a copy to:
Johan V. Xxxxxxx
Xxxxxxx XxXxxxxxx LLP
000 Xxxxxxx Xxxxxx
Xxxxxx, XX 00000
Telecopier No.: 000 000-0000
if to the Purchaser, to:
Xxxx Xxxxxxxx
0000 Xxxxxxxxxx Xxxxx Xxxxx
Xxxxxxx, XX 00000
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All such notices, request and other communications shall be deemed to
have been received: (i) in the case of personal delivery, on the date of such
delivery; (ii) in the case of mailing, when received by the addressee; and (iii)
in the case of telecopy transmission, when confirmed by telecopy machine report.
(d) The rights and obligations of each party under this Agreement shall
inure to the benefit of and be binding upon such party's heirs, successors and
permitted assigns. The rights and obligations of the Company under this
Agreement shall be assignable by the Company to any one or more persons or
entities without the consent of the Purchaser. The rights and obligations of the
Purchaser under this Agreement may only be assigned with the prior written
consent of the Company.
(e) Either party's failure to enforce any provision or provisions of
this Agreement shall not in any way be construed as a waiver of any such
provision or provisions, nor prevent the party thereafter from enforcing each
and every other provision of this Agreement. The rights granted both parties
herein are cumulative and shall not constitute a waiver of either party's right
to assert all other legal remedies available to it under the circumstances.
(f) The Purchaser hereby consents to the utilization by the Company, as
necessary in connection with dealings with any governmental and regulatory
authorities, of any information supplied to the Company by the Purchaser or by
the Purchaser's representatives in connection with the offer and sale of the
Purchased Shares, and agrees to supply any additional information reasonably
requested by any such authority.
(g) If any provision of this Agreement shall be held illegal, invalid or
unenforceable, such illegality, invalidity or unenforceability shall attach only
to such provision and shall not in any manner affect or render illegal, invalid
or unenforceable any other severable provisions of this Agreement.
(h) Headings are for convenience only and are not deemed to be part of
this Agreement.
(i) Each of the Company and the Purchaser agrees upon request to execute
any further documents or instruments necessary or desirable to carry out the
purposes or intent of this Agreement.
(j) This Agreement may be executed in counterparts, all of which
together shall for all purposes constitute one Agreement, binding on each of the
parties hereto notwithstanding that each such party shall not have signed the
same counterpart.
(k) The Company is not by reason of this Agreement or the issuance of
any Purchased Shares obligated to continue the Purchaser's employment.
(l) In case of any dispute hereunder, the parties will submit to the
exclusive jurisdiction and venue of any court of competent jurisdiction sitting
in Boston, Massachusetts, and will comply with all requirements necessary to
give such court jurisdiction over the parties and the controversy. EACH PARTY
HEREBY WAIVES ANY RIGHT TO A JURY TRIAL AND TO CLAIM OR RECOVER PUNITIVE
DAMAGES.
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IN WITNESS WHEREOF, the parties have duly executed this Agreement under
seal as of the day and year first set forth above.
NBC HOLDINGS CORP. PURCHASER:
By: /S/ XXXX XXXXXX /S/ XXXX XXXXXXXX
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Name: Xxxx Xxxxxx Xxxx Xxxxxxxx
Title: Treasurer
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