EX-10.1
from 8-K
2 pages
1. You Hereby Waive, and the Company Also Hereby Waives, All Rights Under the Agreement, Which Waiver Will Not Become Effective Until Immediately Prior to the Consummation of the Transactions (The “Closing”) Contemplated by the Agreement and Plan of Merger, Dated as of April 7, 2015, Between the Company and Genco Shipping & Trading Limited. Immediately Prior to the Closing, the Agreement Will Be Terminated and Will Be of No Further Force and Effect. if the Closing Does Not Occur, Then the Agreement Will Not Be Terminated and the Waiver Contained in the First Sentence of This Paragraph Will Be Null and Void. Notwithstanding Anything in This Paragraph to the Contrary, Neither the Waiver Contained Herein, Nor the Termination of the Agreement, Will Have Any Effect on Any Equity Awards (Such as Restricted Stock) Granted to You Prior to the Date Hereof, Including Under Sections 5(c) and 5(e) of the Agreement, and Such Equity Awards Will Continue to Be Governed by the Applicable Award Agreements and Plan Documents
12/34/56
EX-10.1
from 425
2 pages
1. You Hereby Waive, and the Company Also Hereby Waives, All Rights Under the Agreement, Which Waiver Will Not Become Effective Until Immediately Prior to the Consummation of the Transactions (The “Closing”) Contemplated by the Agreement and Plan of Merger, Dated as of April 7, 2015, Between the Company and Genco Shipping & Trading Limited. Immediately Prior to the Closing, the Agreement Will Be Terminated and Will Be of No Further Force and Effect. if the Closing Does Not Occur, Then the Agreement Will Not Be Terminated and the Waiver Contained in the First Sentence of This Paragraph Will Be Null and Void. Notwithstanding Anything in This Paragraph to the Contrary, Neither the Waiver Contained Herein, Nor the Termination of the Agreement, Will Have Any Effect on Any Equity Awards (Such as Restricted Stock) Granted to You Prior to the Date Hereof, Including Under Sections 5(c) and 5(e) of the Agreement, and Such Equity Awards Will Continue to Be Governed by the Applicable Award Agreements and Plan Documents
12/34/56