Document:

OCR EX 10.14 2014

Exhibit 10.14

EXECUTION VERSION

AMENDMENT NO. 1
AMENDMENT NO. 1 (this “Amendment”), dated as of November 5, 2014, to that certain Amended and Restated Credit Agreement (dated September 28, 2012, as may be further amended, supplemented or otherwise modified from time to time, the “Credit Agreement”, with capitalized terms used herein and not defined herein having the meanings assigned to therein), among Omnicare, Inc., a Delaware corporation (the “Borrower”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), SunTrust Bank, as Administrative Agent (the “Agent”), JPMorgan Chase Bank, N.A., as Syndication Agent, and Barclays Bank PLC, Goldman Sachs Bank USA, and Bank of America, N.A., as Co-Documentation Agents.
W I T N E S S E T H :
WHEREAS, pursuant to Section 8.2 of the Credit Agreement, the Borrower, the Required Lenders and the Agent agree to the amendment of the Credit Agreement as set forth herein.
NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION ONE - Amendments.  Subject to the satisfaction of the conditions set forth in Section Two hereof:
(i)    Section 6.22 of the Credit Agreement is hereby amended by replacing “.” at the end of clause (j) thereof with “; and” and adding the following clause (k) at the end thereof:
“(k)    the incurrence by the Borrower at any time on or prior to December 31, 2014 of Indebtedness represented by senior unsecured notes, in an aggregate amount not to exceed $900,000,000.”
SECTION TWO - Conditions to Effectiveness.  This Amendment shall become effective when, and only when, the Agent shall have received counterparts of this Amendment executed by the Required Lenders and the Borrower and an acknowledgment of this Amendment executed by each Guarantor.  The effectiveness of this Amendment (other than Sections Five, Six and Seven hereof) is conditioned upon the accuracy of the representations and warranties set forth in Section Three hereof.
SECTION THREE - Representations and Warranties; Covenants.  The Borrower represents and warrants to the Agent and the Lenders that both before and after giving effect to this Amendment, (x) no Default or Unmatured Default has occurred and is continuing; and (y) the representations and warranties of the Borrower contained in Article V of the Credit Agreement are true and correct in all material respects  on and as of the date hereof, except to the 

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extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects  as of such earlier date, and except that, the representations and warranties contained in Section 5.4 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.1(a) and (b) of the Credit Agreement, respectively.
SECTION FOUR - Reference to and Effect on the Credit Agreement.  On and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in each of the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended or waived by this Amendment.  The Credit Agreement and each of the other Loan Documents, as specifically amended by this Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as an amendment or waiver of any right, power or remedy of any Lender or any Agent under any of the Loan Documents, nor constitute an amendment or waiver of any provision of any of the Loan Documents.  This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents.
SECTION FIVE - Costs, Expenses and Taxes.  The Borrower agrees to pay all reasonable costs and expenses of the Agent in connection with the preparation, execution and delivery of this Amendment and the other instruments and documents to be delivered hereunder, if any (including, without limitation, the reasonable fees and expenses of Cahill Gordon & Reindel LLP) in accordance with the terms of Section 9.7 of the Credit Agreement.
SECTION SIX - Execution in Counterparts.  This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment.
SECTION SEVEN - Governing Law.  This Amendment shall be governed by, and construed and interpreted in accordance with, the law of the State of New York without regard to the principles of conflict of laws thereof other than Sections 5-1401 and 5-1402 of the New York General Obligations Law, but giving effect to Federal laws applicable to national banks. 
 [SIGNATURE PAGES FOLLOW]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the day and year first above written.
OMNICARE, INC.
		
	By:
	/s/ Ankur Bhandari       
Name: Ankur Bhandari   
Title:  Vice President, Treasurer

Consent to Amendment No. 1

The undersigned hereby consents to the terms of Amendment No. 1.

SunTrust Bank,
as a Lender

By:  /s/ Katherine Bass        
Name: Katherine Bass
Title:     Director

Consent to Amendment No. 1

The undersigned hereby consents to the terms of Amendment No. 1.

Bank of America, N.A.,
as a Lender

By:  /s/ Joseph L. Corah        
Name: Joseph L. Corah
Title:     Director

Consent to Amendment No. 1

The undersigned hereby consents to the terms of Amendment No. 1.

The Bank of Tokyo Mitsubishi UFJ, Ltd.,
as a Lender

By:  /s/ Scott O’Connell        
Name: Scott O’Connell
Title:     Director

Consent to Amendment No. 1

The undersigned hereby consents to the terms of Amendment No. 1.

U.S. Bank National Association,
as a Lender

By:  /s/ John M. Langenderfer        
Name: John M. Langenderfer
Title:     Senior Vice President

Consent to Amendment No. 1

The undersigned hereby consents to the terms of Amendment No. 1.

Barclays Bank PLC,
as a Lender

By:  /s/ Alicia Borys            
Name: Alicia Borys
Title:     Vice President

Consent to Amendment No. 1

The undersigned hereby consents to the terms of Amendment No. 1.

Goldman Sachs Bank USA,
as a Lender

By:  /s/ Nicole Ferry Lacchia        
Name: Nicole Ferry Lacchia
Title:     Authorized Signatory

Consent to Amendment No. 1

The undersigned hereby consents to the terms of Amendment No. 1.

JPMorgan Chase Bank, N.A.,
as a Lender

By:  /s/ Amy Ukena        
Name: Amy Ukena
Title:     Vice President

Consent to Amendment No. 1

The undersigned hereby consents to the terms of Amendment No. 1.

KeyBank National Association,
as a Lender

By:  /s/ Sanya Valeva            
Name: Sanya Valeva
Title:     Senior Vice President

Consent to Amendment No. 1

The undersigned hereby consents to the terms of Amendment No. 1.

Sumitomo Mitsui Banking Corporation,
as a Lender

By:  /s/ David W. Kee            
Name: David W. Kee
Title:     Managing Director

Consent to Amendment No. 1

The undersigned hereby consents to the terms of Amendment No. 1.

Regions Bank,
as a Lender

By:  /s/ Ned Spitzer            
Name: Ned Spitzer
Title:     Managing Director

Consent to Amendment No. 1

The undersigned hereby consents to the terms of Amendment No. 1.

Fifth Third Bank,
as a Lender

By:  /s/ Joshua N. Livingston        
Name: Joshua N. Livingston
Title:     Duly Authorized Signatory

Consent to Amendment No. 1

The undersigned hereby consents to the terms of Amendment No. 1.

The Huntington National Bank,
as a Lender

By:  /s/ Joshua D. Elsea        
Name: Joshua D. Elsea
Title:     Vice President

Accepted and Agreed:

SUNTRUST BANK, as Agent
By: /s/ Katherine Bass       
Name: Katherine Bass   
Title: Director

Accepted and Agreed:
On Behalf of:

ADVANCED CARE SCRIPTS, INC.
AMC-NEW YORK, INC.
AMC-TENNESSEE, INC.
BADGER ACQUISITION LLC
BADGER ACQUISITION OF KENTUCKY LLC
BADGER ACQUISITION OF MINNESOTA LLC
BADGER ACQUISITION OF OHIO LLC
BEST CARE LTC ACQUISITION COMPANY LLC
BPNY ACQUISITION CORP.
CAMPO’S MEDICAL PHARMACY, INC.
CAPITOL HOME INFUSION, INC.
CCRX HOLDINGS, LLC
CCRX OF NORTH CAROLINA HOLDINGS, LLC
CCRX OF NORTH CAROLINA, LLC
CHP ACQUISITION CORP.
CIP ACQUISITION CORP.
CONTINUING CARE RX, LLC
CP ACQUISITION CORP.
CP SERVICES LLC
DELCO APOTHECARY, INC.
ENLOE DRUGS LLC
EVERGREEN PHARMACEUTICAL OF CALIFORNIA, INC.
HMIS, INC.
HOME PHARMACY SERVICES, LLC
HYTREE PHARMACY, INC.
JHC ACQUISITION LLC
LANGSAM HEALTH SERVICES, LLC
LCPS ACQUISITION LLC
LOBOS ACQUISITION, LLC
MANAGED HEALTHCARE, INC.
MANAGEMENT & NETWORK SERVICES, INC.
MED WORLD ACQUISITION CORP.
MEDICAL ARTS HEALTH CARE, INC.
MHHP ACQUISITION COMPANY LLC
NCS HEALTHCARE OF INDIANA LLC
NCS HEALTHCARE OF INDIANA, INC.
NCS HEALTHCARE OF KENTUCKY, INC.
NCS HEALTHCARE OF MONTANA, INC.
NCS HEALTHCARE OF NEW HAMPSHIRE, INC.

NCS HEALTHCARE OF NEW MEXICO, INC.
NCS HEALTHCARE OF SOUTH CAROLINA, INC.
NCS HEALTHCARE OF TENNESSEE, INC.
NCS HEALTHCARE OF WASHINGTON, INC.
NCS SERVICES, INC.
NEIGHBORCARE HOLDINGS, INC.
NEIGHBORCARE PHARMACY SERVICES, INC.
NEIGHBORCARE REPACKAGING, INC.
NEIGHBORCARE SERVICES CORPORATION
NEIGHBORCARE, INC.
NIV ACQUISITION LLC
OMNICARE DISTRIBUTION CENTER LLC
OMNICARE ESC LLC
OMNICARE HEADQUARTERS LLC
OMNICARE HOLDING COMPANY
OMNICARE INDIANA PARTNERSHIP HOLDING COMPANY LLC
OMNICARE MANAGEMENT COMPANY
OMNICARE OF NEVADA LLC
OMNICARE PHARMACIES OF PENNSYLVANIA EAST, LLC
OMNICARE PHARMACIES OF THE GREAT PLAINS HOLDING COMPANY
OMNICARE PHARMACY OF MAINE LLC
OMNICARE PHARMACY OF NEBRASKA LLC
OMNICARE PHARMACY OF NORTH CAROLINA, LLC
OMNICARE PHARMACY OF PUEBLO, LLC
OMNICARE PHARMACY OF TENNESSEE LLC
OMNICARE PROPERTY MANAGEMENT, LLC
OMNICARE PURCHASING COMPANY GENERAL PARTNER, INC.
OMNICARE PURCHASING COMPANY LIMITED PARTNER, INC.
PHARMACY ASSOCIATES OF GLENS FALLS, INC.
PHARMACY HOLDING #1, LLC
PHARMACY HOLDING #2, LLC
PHARMASOURCE HEALTHCARE, INC.
PHARMED HOLDINGS, INC.
PMRP ACQUISITION COMPANY, LLC
PP ACQUISITION COMPANY, LLC
PROFESSIONAL PHARMACY SERVICES, INC.
PSI ARKANSAS ACQUISITION, LLC
RXC ACQUISITION COMPANY
SHORE PHARMACEUTICAL PROVIDERS, INC.
STERLING HEALTHCARE SERVICES, INC.
SUBURBAN MEDICAL SERVICES, LLC
SUPERIOR CARE PHARMACY, INC.
TCPI ACQUISITION CORP.
UC ACQUISITION CORP.
UNI-CARE HEALTH SERVICES OF MAINE, INC.

VAPS ACQUISITION COMPANY, LLC
VITAL CARE  INFUSIONS,  INC.
WEBER MEDICAL SYSTEMS LLC
WILLIAMSON DRUG COMPANY, INCORPORATED
ZS ACQUISITION COMPANY, LLC

/s/ Ankur Bhandari                
Name:  Ankur Bhandari
Title:    Treasurer

On Behalf of:

ASCO HEALTHCARE OF NEW ENGLAND, LIMITED PARTNERSHIP
ASCO HEALTHCARE OF NEW ENGLAND, LLC
COMPASS HEALTH SERVICES, LLC
INSTITUTIONAL HEALTH CARE SERVICES, LLC
NEIGHBORCARE PHARMACIES, LLC

ASCO Healthcare, LLC,    
as sole member (and general partner with respect to ASCO Healthcare of New England, Limited Partnership)
By: NeighborCare Pharmacy Services, Inc., as sole member

/s/ Ankur Bhandari                
Name:  Ankur Bhandari
Title:    Treasurer

On Behalf of:

APS ACQUISITION LLC
ASCO HEALTHCARE, LLC
COMPSCRIPT, LLC
EVERGREEN PHARMACEUTICAL, LLC
HOME CARE PHARMACY LLC
INTERLOCK PHARMACY SYSTEMS, LLC
LO-MED PRESCRIPTION SERVICES, LLC
NCS HEALTHCARE OF ILLINOIS, LLC
NCS HEALTHCARE OF IOWA, LLC

NCS HEALTHCARE OF KANSAS, LLC
NCS HEALTHCARE OF OHIO, LLC
NCS HEALTHCARE OF WISCONSIN, LLC
NORTH SHORE PHARMACY SERVICES, LLC
OCR-RA ACQUISITION, LLC
OMNICARE OF NEW YORK, LLC
OMNICARE PHARMACIES OF PENNSYLVANIA WEST, LLC
OMNICARE PHARMACY AND SUPPLY SERVICES, LLC
OMNICARE PHARMACY OF THE MIDWEST, LLC
PHARMACY CONSULTANTS, LLC
ROESCHEN’S HEALTHCARE, LLC
SPECIALIZED PHARMACY SERVICES, LLC
VALUE HEALTH CARE SERVICES, LLC
WESTHAVEN SERVICES CO., LLC

NeighborCare Pharmacy Services, Inc., as sole member

/s/ Ankur Bhandari                
Name:  Ankur Bhandari
Title:    Treasurer

On Behalf of:

NCS HEALTHCARE, LLC

Omnicare Holding Company, as sole member

/s/ Ankur Bhandari                
Name:  Ankur Bhandari
Title:    Treasurer

On Behalf of:

CARE4, LP
Institutional Health Care Services, as general partner
By: ASCO Healthcare, LLC, as sole member

By: NeighborCare Pharmacy Services, Inc., as sole member

/s/ Ankur Bhandari                
Name:  Ankur Bhandari
Title:    Treasurer

On Behalf of:

NEIGHBORCARE OF INDIANA, LLC
NEIGHBORCARE OF VIRGINIA, LLC
Omnicare of New York, LLC, as sole member   

By:  NeighborCare Pharmacy Services, Inc., as sole member

/s/ Ankur Bhandari                
Name:  Ankur Bhandari
Title:    Treasurer

On Behalf of:

CARE PHARMACEUTICAL SERVICES, LP
PRN PHARMACEUTICAL SERVICES, LP

Omnicare Indiana Partnership Holding Company LLC, as general partner

/s/ Ankur Bhandari                
Name:  Ankur Bhandari
Title:    Treasurer

On Behalf of:

OMNICARE PHARMACY OF FLORIDA, LP
OMNICARE PHARMACY OF TEXAS 1, LP
OMNICARE PHARMACY OF TEXAS 2, LP

Pharmacy Holding #2, LLC, as general partner

/s/ Ankur Bhandari                
Name:  Ankur Bhandari
Title:    Treasurer

On Behalf of:

MAIN STREET PHARMACY, L.L.C.

Professional Pharmacy Services, Inc., as manager

/s/ Ankur Bhandari                
Name:  Ankur Bhandari
Title:    Treasurer

On Behalf of:

OMNICARE PURCHASING COMPANY LP

Omnicare Purchasing Company General Partner, Inc., as general partner

/s/ Ankur Bhandari                
Name:  Ankur Bhandari
Title:    Treasurer

On Behalf of:

THREE FORKS APOTHECARY LLC
NeighborCare, Inc., as sole member

/s/ Ankur Bhandari                
Name:  Ankur Bhandari
Title:    Treasurer

On Behalf of:

D&R PHARMACEUTICAL SERVICES, LLC

NeighborCare Services Corporation, as sole member

/s/ Ankur Bhandari                
Name:  Ankur Bhandari
Title:    Treasurer2015 Executive Bonus Plan Exhibit

Exhibit 10.1
Blucora, Inc.
2015 Executive Bonus Plan

This plan document outlines the Blucora Executive Bonus Plan (the “Plan”) for calendar year 2015.

PLAN OBJECTIVES
		
	•
	Align the compensation of executive management to key financial drivers.

		
	•
	Provide variable pay opportunities and targeted total cash compensation that is competitive within our markets.

		
	•
	Increase the competitiveness of executive pay without increasing fixed costs, making bonus payments contingent upon organizational and individual success.

		
	•
	Provide discretionary variable compensation that reflects the achievement of non-financial goals, including goals related to operations, culture, values, and leadership. 

		
	•
	Create internal consistency and standard guidelines among the executive peer group.

EFFECTIVE DATE
The Plan was adopted by the Compensation Committee on February 5, 2015, and is effective for calendar year 2015.  The Plan may be changed at any time at the sole discretion of the Compensation Committee of the Board of Directors.

PARTICIPATION ELIGIBILITY, BONUS TARGETS AND PAYOUT TIMING
The positions eligible for participation in the Plan are listed in the table below.  Each participant’s annual bonus target, which is stated as a percentage of annual base salary, is also set forth in the table below.  If the executive leadership team changes composition, any additions to the Plan will be recommended by the CEO and approved by the Compensation Committee.  Payment of bonuses awarded under this Plan will be made annually, following the conclusion of the calendar year. 

	
		
	Job Title
	Target Bonus %

	President and Chief Executive Officer
	100%

	Chief Financial Officer and Treasurer
	60%

	EVP Corporate Development
	55%

	Chief Legal and Administrative Officer
	60%

	General Counsel and Secretary
	45%

	Executive Vice President, Human Resources
	35%

	President, InfoSpace
	60%

	President, TaxACT
	60%

	President, Monoprice
	60%

PLAN DESIGN
The Plan includes financial performance components and a discretionary component that is based on individual objectives and the CEO’s (or, with respect to the CEO, the Compensation Committee’s) subjective evaluation of that individual’s performance.  The determination of the achievement of the discretionary component will be based on a holistic review of overall performance by the executive, and should take into account relevant factors, which may include, but are not limited to, achievement of non-financial performance objectives, the manner in which the executive embodies the Company's values and cultural goals, and the leadership demonstrated by the executive in his or her areas of influence.  The financial performance components and the weighting of the discretionary component differ among plan participants as noted in the table below. 
 

	
									
	Job Title /
	Financial Components
	Discretionary

	Bonus Payment Scale
	BCOR Revenue
	BCOR Adj EBITDA
	Segment Revenue
	Segment Income
	Non-legacy Revenue
	Tax DDIY Efiles
	Tax Prep Efiles
	Component

	President and CEO / A
	20%
	60%
	 
	 
	 
	 
	 
	20%

	CFO and Treasurer / A
	20%
	60%
	 
	 
	 
	 
	 
	20%

	EVP Corp. Dev. /A
	20%
	60%
	 
	 
	 
	 
	 
	20%

	Chief Legal & Administrative Officer/A
	20%
	60%
	 
	 
	 
	 
	 
	20%

	GC and Secretary / A
	20%
	60%
	 
	 
	 
	 
	 
	20%

	EVP, Human Resources / A
	20%
	60%
	 
	 
	 
	 
	 
	20%

	Pres., InfoSpace / B
	 
	 
	15%
	40%
	25%
	 
	 
	20%

	Pres., TaxACT / C
	 
	 
	20%
	30%
	 
	20%
	10%
	20%

	Pres., Monoprice / D
	 
	 
	40%
	40%
	 
	 
	 
	20%

Each financial component may be achieved at a payout percentage ranging from 0 to 165% and discretionary component may be achieved at a payout percentage ranging from 0% to 100%, with the result that the aggregate maximum payout level under the Plan for each executive is 152%.  The relevant Executive Bonus Payment Scale set forth in the Bonus Scales section is applied to determine the payout percentage of the financial performance components.  The financial performance component targets at 100% match the corresponding operating plan targets approved by the Board of Directors in December 2014.  The level of achievement of the discretionary component is subjectively determined on a semi-annual basis by the CEO (or, with respect to the CEO, by the Compensation Committee).  Efile targets shall be adjusted based on actual overall market performance relative to the assumptions for overall market performance in the budget model.

Financial Targets

The financial performance components used to determine the bonus achievement are defined below.  All components subject to normalization (e.g., removal of non-recurring expenses and/or revenue) shall only be so adjusted by the Compensation Committee.  

		
	•
	BCOR Revenue: Consolidated, externally reported Revenue

		
	•
	BCOR Adjusted EBITDA: Consolidated, externally reported EBITDA, normalized for internally developed software and other non-operational items

		
	•
	Segment Revenue or Income (as applicable): externally reported Income or Revenue for the applicable segment, with Income normalized for internally developed software and other non-operational items

		
	•
	Non-Legacy Revenue: Revenue generated by the HowStuffWorks business, the content aggregation initiative, and any other new initiatives launched by InfoSpace in 2015

		
	•
	Tax DDIY Efiles: Number of online and desktop accepted efiles generated through the consumer tax preparation site/software during the IRS designated filing season

		
	•
	Tap Prep Efiles: Accepted efiles generated through the professional tax preparation software during the IRS designated filing season

Bonus Scales
The applicable Executive Bonus Payment Scale below will be used to calculate the available amounts to be paid to each executive based on the financial performance components.

	
				
	Executive Bonus Payment Scale A (BCOR)

	Performance Level
	Financial Performance vs. Target
	Bonus Payout Percentage
	Added Payout Rate
Per 1% Attainment

	Below Threshold
	0% - 84%
	0.0%
	----

	Threshold
	85%
	50.0%
	----

	 
	86% - 95%
	54.5% - 95.0%
	4.5%

	 
	96% - 99%
	96.0% - 99.0%
	1.0%

	Target
	100%
	100.0%
	----

	 
	101% - 105%
	101.0% - 105.0%
	1.0%

	Acceleration
	106% - 115%
	111.0% - 165.0%
	6.0%

	Maximum
	≥ 115%
	Capped at 165.0%
	----

	
				
	Executive Bonus Payment Scale B (InfoSpace)

	Performance Level
	Financial Performance vs. Target
	Bonus Achievement Percentage
	Added Payout Rate
Per 1% Attainment

	Below Threshold
	0% - 79%
	0.0%
	----

	Threshold
	80%
	50.0%
	----

	 
	81% - 95%
	53.0% - 95.0%
	3.0%

	 
	96% - 99%
	96.0% - 99.0%
	1.0%

	Target
	100%
	100.0%
	----

	 
	101% - 105%
	101.0% - 105.0%
	1.0%

	Acceleration
	106% - 120%
	109.0% - 165.0%
	4.0%

	Maximum
	≥ 120%
	Capped at 165.0%
	----

	
				
	Executive Bonus Payment Scale C (TaxACT)

	Performance Level
	Financial Performance vs. Target
	Bonus Achievement Percentage
	Added Payout Rate
Per 1% Attainment

	Below Threshold
	0% - 94%
	0.0%
	----

	Threshold
	95%
	50.0%
	----

	 
	96% - 99%
	62.25% - 99.0%
	12.25%

	Target
	100%
	100.0%
	----

	 
	101%
	101.0%
	1.0%

	Acceleration
	102% - 105%
	117.0% - 165.0%
	16.0%

	Maximum
	≥ 105%
	Capped at 165.0%
	----

	
				
	Executive Bonus Payment Scale D (Monoprice)

	Performance Level
	Financial Performance vs. Target
	Bonus Achievement Percentage
	Added Payout Rate
Per 1% Attainment

	Below Threshold
	0% - 89%
	0.0%
	----

	Threshold
	90%
	50.0%
	----

	 
	91% - 95%
	59.0% - 95.0%
	9.0%

	 
	96% - 99%
	96.0% - 99.0%
	1.0%

	Target
	100%
	100.0%
	----

	 
	101% - 105%
	101.0% - 105.0%
	1.0%

	Acceleration
	106% - 110%
	117.0% - 165.0%
	12.0%

	Maximum
	≥ 110%
	Capped at 165.0%
	----

		
	•
	Rounding.  Performance results will be rounded up to the nearest whole percentage point.  For example, if the calculated performance achievement percentage is 79.1%, it will be rounded up to 80%.

		
	•
	Performance Thresholds.  There will be no payout for a financial performance component if the minimum specified threshold is not achieved.  However, if the threshold for one financial performance component is not achieved, a bonus may still be earned on the other financial performance component(s), provided performance for that measure achieves the applicable threshold.  The discretionary component is independent of the financial performance components, and may be awarded whether or not the threshold for any financial performance components has been met.

		
	•
	Acceleration Below and Above Target.  For determining bonus achievement percentage where a range is indicated in the financial performance vs. target column, the whole percentage point of financial performance achieved is mapped to the corresponding bonus achievement percentage using a linear scale between the low and high points in the range. 

EMPLOYMENT REQUIREMENTS
In order to be eligible for a bonus payment under the Plan, and for a bonus to be considered earned under the Plan, participants must be employed at the end of the fiscal year; provided, however, that if a participant’s employment is terminated during the year “without Cause” or by the participant for “Good Reason” or due to “Constructive Termination” as such terms are defined in the applicable participant’s employment agreement, then the participant will be entitled to accrued bonus as of the date of his or her termination.  Accrued bonus will be calculated as (a) pro-rata achievement of financial performance components based on the then-current annual forecast and (b) pro-rata achievement of the objectives/discretionary component at the level communicated at the conclusion of the semi-annual measurement period, or with respect to any measurement period which has not yet been completed and communicated, achievement of the objectives/discretionary component at the level subjectively determined by the CEO (or, with respect to the CEO, the Compensation Committee).

APPROVAL
All bonus payments made to executives will be submitted to the Compensation Committee for final approval.  The Compensation Committee may adjust the final bonus amount as it deems appropriate.  The Committee has complete discretion to adjust bonus awards to reflect changes in the industry, company, the executive’s job duties or performance, or any other circumstance the Committee determines should impact bonus awards.

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