EX-10
from 8-K
9 pages
The Parties to This Forebearance Agreement (This "Agreement"), Dated as of August 1, 2013, but Effective as of August 1, 2013 (The "Forbearance Date"), Are Bank of America, N.A. ("Lender"), American Locker Group Incorporated, a Delaware Corporation (“Locker Group Borrower”), American Locker Security Systems, Inc., a Delaware Corporation (“Security Borrower”), Security Manufacturing Corporation, a Delaware Corporation (“Manufacturing Borrower”), and Canadian Locker Company Limited, a Corporation Incorporated Under the Federal Laws of Canada (“Canadian Borrower”)(locker Group Borrower, Security Borrower, Manufacturing Borrower and Canadian Borrower Are Collectively Referred to Herein as “Borrower”). for Good and Valuable Consideration, the Receipt and Adequacy of Which Are Hereby Acknowledged, the Parties Agree as Follows: 1. Background
12/34/56
EX-10.1
from 8-K
3 pages
The Board of Directors of American Locker Group Incorporated (“Alg” or the “Company”) Is Pleased to Offer You the Position of Chairman, Chief Executive Officer (CEO) and President of American Locker Group, Effective April 2, 2013. as We Have Discussed, the Compensation Package as Outlined Below Is Intended to Keep You Whole in Terms of Your Current Situation While Providing You the Opportunity to Benefit From the Future Success of the Company. the Following Are the General Terms and Conditions of Your Employment: Base Compensation, Annual Bonus and Benefits
12/34/56
