Document:

Bonus Plan for Senior Management of Cerus Corporation

 Exhibit 10.46 
 BONUS PLAN FOR SENIOR MANAGEMENT OF 
 CERUS
CORPORATION 
 Approved: January 1, 2006 
 Amended: December 11, 2008 
 Amended:
February 4, 2010 
 This document sets forth the complete terms and conditions of the Bonus Plan for Senior Management of Cerus
Corporation (“Cerus” or the “Company”) (the “Senior Management Bonus Plan”). This Plan went into effect on January 1, 2006 and was amended on December 11, 2008 and February 4, 2010, and will remain in
effect until modified or terminated by the Company. The Plan Year for this Senior Management Bonus Plan runs from January 1 each year to December 31 each year. 
  

	1.	Purposes of the Senior Management Bonus Plan 

  

	 	•	 	 Focus the organization on the goals which are most critical to the Company’s success; 

  

	 	•	 	 Attract and retain a high caliber of employee; 

  

	 	•	 	 Promote a pay-for-results philosophy; 

  

	 	•	 	 Provide competitive compensation opportunities; 

  

	 	•	 	 Allow management judgment and flexibility; and 

  

	 	•	 	 Reinforce the overall compensation strategy. 

  

	2.	Coverage 

 This Senior
Management Bonus Plan covers the following bonus programs for senior management at Cerus: Signing Bonuses, Retention Bonuses and Performance Bonuses. 
  

	3.	Eligibility 

  

	 	•	 	 Employees must qualify as “Senior Management” of the Company to be eligible for bonuses under the Senior Management Bonus Plan. The Company
retains the sole discretion to determine which employees qualify as Senior Management and will provide written notice to all eligible employees of their status as a member of Senior Management. 

  

	 	•	 	 The only employees who are eligible for Signing Bonuses or Retention Bonuses are those employees who are expressly notified of such eligibility in a
writing signed by a Company officer. 

  

	 	•	 	 Senior Management is not eligible for Recruiting Bonuses. 

	 	•	 	 All employees who have been designated as Senior Management are eligible for Performance Bonuses. Senior Management who work part-time are eligible to
receive pro-rata Performance Bonuses based on the number of hours they are regularly scheduled to work. New Senior Management employees who are hired after the Plan Year begins are eligible to participate on a pro-rata basis after completing three
months of employment (unless otherwise approved by the CEO). Eligible Senior Management participants who are on a leave of absence for any portion of the Plan Year are also eligible to participate on a pro-rata basis, provided they work at least
thirty days during the Plan Year. 

  

	 	•	 	 Employees are only eligible for bonuses under this Senior Management Bonus Plan if they sign and date this document and return it to the Company.

  

	4.	Amount and Calculation of Bonuses 

  

	 	•	 	 The amount of any Signing Bonus or Retention Bonus that an eligible employee may receive will be as set forth in the written document signed by a Cerus
officer notifying the employee of their eligibility for such a bonus. Any terms and conditions set forth in that document will also apply. 

  

	 	•	 	 Performance Bonuses: 

  

	 	•	 	 At the beginning of each Plan Year, the Company shall set commercial goals and strategic goals for the Plan Year. Goals are generally submitted to the
Compensation Committee by the CEO for approval by the Compensation Committee before the end of the first quarter of each year. 

  

	 	•	 	 Commercial Goals: 

  

	 	•	 	 Commercial goals will generally be based upon empirical results for the applicable Plan Year, such as revenue, end of year cash balance and profits.

  

	 	•	 	 At the beginning of each Plan Year, Compensation Committee will: 

  

	 	•	 	 assign a percentage value that reflects the significance that the commercial goals, as a whole, will be accorded in the determination of bonus payouts
at the end of the Plan Year (the “Commercial Goals Multiplier”) 

  

	 	•	 	 assign a value to each commercial goal that reflects the significance that such commercial goal will be accorded in the determination of bonus payouts
at the end of the Plan Year (each, a “Commercial Goal Component Value”). The aggregate value of the Commercial Goal Component Values will equal 100% of the portion of the bonus payout at the end of the Plan Year attributable to achievement
of the commercial goals. 

  

	 	•	 	 assign a threshold metric, a target metric and a stretch metric for each commercial goal. 

	 	•	 	 At the end of each Plan Year, the Compensation Committee will determine, in its sole discretion, if and the extent to which each commercial goal has
met its threshold metric, target metric or stretch metric and assign a multiplier to each commercial goal that reflects such determination (each, a “Commercial Goal Payout Multiplier”) as follows: 

  

	 	•	 	 Achievement of less than the threshold metric: multiplier of 0; 

  

	 	•	 	 Achievement of at least the threshold metric, but not the target metric: multiplier of no less than 0.5 and no more than 0.99;

  

	 	•	 	 Achievement of the target metric, but not the stretch metric: multiplier of no less than 1.0 and no more than 1.49; and 

 

	 	•	 	 Achievement of the stretch metric or more: multiplier of no more than 1.5. 

  

	 	•	 	 The Commercial Goal Payout Multiplier for each commercial goal is then multiplied by the Commercial Goal Component Value assigned to such goal to
determine the amount of the performance bonus earned for each such commercial goal (each, a “Commercial Goal Component Payout” and in the aggregate, (the “Earned Commercial Goals Payout”). 

  

	 	•	 	 Strategic Goals: 

  

	 	•	 	 Strategic goals will generally consist of corporate development milestones used to measure how well the Company has executed on its business plan for
the Plan Year, such as product development goals, clinical development goals or corporate partnering effort goals. 

  

	 	•	 	 At the beginning of each Plan Year, the Compensation Committee will assign a percentage value that reflects the significance that the strategic goals,
as a whole, will be accorded in the determination of bonus payouts at the end of the Plan Year (the “Strategic Goals Multiplier”). 

  

	 	•	 	 At the end of the Plan Year, the CEO will determine, subject to final review by the Compensation Committee, if and the extent to which the strategic
goals have been met (the “Earned Strategic Goals Payout”). 

  

	 	•	 	 At the end of each Plan Year, the Company will create a bonus pool based on the achievement of the commercial goals and strategic goals for the
applicable Plan Year as follows: 

  

	 	•	 	 Each Senior Management employee’s current bonus-year base pay is multiplied by the applicable bonus target percentage for that employee and then
aggregated among all Senior Management employees (collectively, the “Employee Base Pay Component”). (Target bonus percentages are assigned at the beginning of each Plan Year in writing.) 

  

	 	•	 	 The product of the Commercial Goals Multiplier and the Earned Commercial Goals Payout will be added to the product of the Strategic Goals Multiplier
and the Earned Strategic Goals Payout, the sum of which shall then be multiplied by the Employee Base Pay Component to determine the total amount available in the bonus pool. 

	 	•	 	 Once the bonus pool is created, the CEO shall determine distribution of the bonus pool among members of Senior Management based upon individual
performance and contribution, which distribution shall be submitted to the Compensation Committee for approval. Whether Senior Management employees receive a Performance Bonus, and the amount of any such Performance Bonus, is entirely within the
discretion of the CEO and the Compensation Committee, and is also dependent on the Company’s ability to pay. 

  

	 	•	 	 The Company determines the actual amount of Performance Bonuses based on the above criteria every January for the preceding year. Once the amount of
the Performance Bonus (if any) is determined, 70% of the Performance Bonus will be awarded in cash and 30% will be awarded in the form of restricted stock units. The number of restricted stock units that are awarded will depend on the share
price on the date the units are granted, which will generally be the date on which bonus amounts are determined, unless the Board decides otherwise. 

  

	 	•	 	 Any restricted stock units granted as a Performance Bonus will be subject to a vesting schedule whereby 1/3 vest on the first year anniversary of
grant, 1/3 vest on the second year anniversary of grant, and 1/3 vest on the third year anniversary of grant, subject to the employee’s continued service with the Company. Shares of common stock that vest pursuant to these restricted stock
units cannot be sold, transferred or otherwise disposed of until the entire grant is vested (or if the employee leaves prior to full vesting, until such time as the entire grant would have vested if the employee had remained employed). The terms and
conditions of any such grants will governed entirely by the applicable plan documents and restricted stock unit agreement. 

  

	5.	Payment of Bonuses 

  

	 	•	 	 No bonus is earned prior to the date it is actually paid under this Senior Management Bonus Plan. Therefore, in the event an employee’s employment
is terminated (either by the Company or by the employee, whether voluntarily or involuntarily) before a bonus is paid, then the employee will not have earned that bonus, and will not be entitled to any portion of that bonus. The cash portion of any
earned bonus will be paid as set forth below but in no event will any earned cash bonus be paid later than March 31 of the year following the year in which it was earned. 

  

	 	•	 	 Signing Bonuses are paid on the first payday following the employee’s completion of the required period of active, full-time employment stated in
the employee’s offer letter. If the employee does not complete the required period of employment, or is not in good standing with the Company as of the date the Signing Bonus otherwise would be payable, then the employee will not have earned
the Signing Bonus and no Signing Bonus will be paid. 

  

	 	•	 	 Retention Bonuses are paid on the first payday following the retention date specified in the employee’s Retention Bonus Memorandum provided that
the employee remains an active full-time employee of the Company from the date of such memorandum through the Retention Date. 

	 	•	 	 The cash portion of any Performance Bonus is paid in the January following the end of the Plan Year. Similarly, the stock portion of any Performance
Bonus is awarded in the January following the end of the Plan Year. An eligible employee must be actively employed by the Company in good standing on the day the bonus is paid, or the stock is granted, in order to receive the Performance Bonus.

  

	6.	Bonuses Disputes 

  

	 	•	 	 A Bonus Review Board will be established to review and decide any disputes arising under this Senior Management Bonus Plan. It shall consist of the
Company’s Chief Executive Officer and Vice President of Administration. Any employee with an issue related to this Senior Management Bonus Plan shall provide a written request for review to Human Resources who, in turn, shall convene the Board
to resolve the issue. All decisions of the Bonus Review Board are final and binding. 

  

	7.	Legal and Ethical Standards 

  

	 	•	 	 No employee shall attempt to earn a bonus by engaging in any conduct which violates any anti-trust laws, other laws, or the Company’s ethical
standards, policies or practices. 

  

	 	•	 	 No employee shall pay, offer to pay, assign or give any part of his or her bonus, compensation, or anything else of value to any agent, customer,
supplier or representative of any customer or supplier, or to any other person, as an inducement or reward for direct or indirect assistance in earning a bonus. 

  

	 	•	 	 Any infraction of this Senior Management Bonus Plan, or of recognized ethical standards, will subject the employee to disciplinary action up to and
including termination of employment and revocation of any bonuses under this Senior Management Bonus Plan to which the employee otherwise would be entitled. 

  

	8.	Miscellaneous 

  

	 	•	 	 Nothing in this Senior Management Bonus Plan is intended to alter the at-will nature of employment with the Company, that is, the employee’s right
or the Company’s right to terminate the employee’s employment at will, at any time with or without cause or advance notice. In addition, acceptance of this Senior Management Bonus Plan shall not be construed to imply a guarantee of
employment for any specified period of time. 

  

	 	•	 	 This Senior Management Bonus Plan contains the entire agreement between the Company and its employees on this subject, and supercedes all prior bonus
compensation plans or programs of the Company and all other previous oral or written statements regarding any such bonus compensation programs or plans. 

  

	 	•	 	 Cerus reserves the right to modify any of the provisions of this Senior Management Bonus Plan in its sole discretion at any time with 10 days’
written notice to eligible employees; provided, however, that this Senior Management Bonus Plan may not be modified or amended except in a writing signed by a Company officer and upon approval by the Company’s Compensation Committee.

  

	 	•	 	 No bonus amounts are guaranteed and all bonuses must be earned in accordance with the terms of this Senior Management Bonus Plan. The Company will make
all determinations under the Senior Management Bonus Plan within its sole discretion, including but not limited to: whether a Performance Bonus has been earned and the amount of any Performance Bonus; and whether an employee is in good standing.

	 	•	 	 This Senior Management Bonus Plan shall be governed by and construed under the laws of the State of California. 

 *    *    * 
 I have read and understand the provisions of this Bonus Plan and hereby accept its terms. 
  

									
	  
	 		  	  
	  		  	                    
	Employee Name (Printed)	 		  	Employee Signature	  		  	DateForm of Incentive Stock Award Plan for Incentive Shares

 Exhibit 10.11(e) 
 AWARD AGREEMENT 
 Under the 
 Louisiana-Pacific Corporation 
 1997 Incentive Stock Award Plan 
 STOCK-SETTLED STOCK APPRECIATION RIGHT

  

			
	Corporation:	  	Louisiana-Pacific Corporation
		  	414 Union Street
		  	Suite 2000
		  	Nashville, Tennessee 37219
		
	Participant:	  	  

		  	  

		  	  

		
	Grant Date:	  	            , 200    
		
	SAR:	  	This Stock-Settled Stock Appreciation Right
		
	SAR Shares:	  	         Shares of Corporation’s Common Stock
		
	Base Price:	  	$         per Share

 Subject to the terms and conditions of the Louisiana-Pacific Corporation 1997 Incentive Stock Award Plan, as amended, (the “Plan”) and this Agreement, effective as of the Grant Date, Corporation
grants to Participant a SAR for the SAR Shares at the Base Price. 
 The provisions of Appendix A attached to this Agreement are
incorporated by reference as part of this Agreement. 
  

			
	LOUISIANA-PACIFIC CORPORATION
		
	 By
	 	  

		
	 Its
	 	  

	
	  

	 Participant

 APPENDIX A 
 To 
 Award Agreement for Stock-Settled Stock
Appreciation Right 
 This Award Agreement evidences the grant of a Stock-Settled Stock Appreciation Right (the
“SAR”) to Participant under the Plan. 
 Capitalized terms are defined in Section 7. 
 1. SAR Shares; Adjustment 
 In the event of (a) a stock dividend or a stock split or reverse stock split (whether effected as a dividend or otherwise) or (b) an Extraordinary Distribution by Corporation, where the record date for such stock dividend, stock
split, or Extraordinary Distribution is after the Grant Date, the Committee will, to the extent provided in Article 12 of the Plan as it may be amended from time to time, adjust the number of SAR Shares proportionately to reflect the effect of such
stock dividend, stock split or Extraordinary Distribution. 
 2. Terms of the SAR 
 The SAR is subject to all applicable provisions of the Plan and to the following terms and conditions: 
 2.1 Term. The term of the SAR extends ten years from the Grant Date unless terminated earlier in accordance with this Agreement.

 2.2 Exercisability. The SAR initially will not be exercisable and, unless the SAR is terminated or canceled earlier or
the exercisability of the SAR is accelerated in accordance with this Agreement, the SAR may be exercised from time to time with respect to a whole number of SAR Shares up to the following limits: 
 (a) Prior to the first anniversary of the Grant Date, the SAR may not be exercised; 
 (b) During the one-year period beginning on the first anniversary of the Grant Date, the SAR may be exercised with respect to
up to one-third of the total SAR Shares; 
 (c) During the one-year period beginning on the second anniversary of
the Grant Date, the SAR may be exercised with respect to up to two-thirds of the total SAR Shares; and 
 (d) On
and after the third anniversary of the Grant Date, the SAR may be exercised with respect to all the SAR Shares. 
  

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 2.3 Method of Exercise. The SAR, or any portion thereof, may be exercised, to the
extent it has become exercisable pursuant to this Agreement, by delivery of written notice to Corporation stating the number of SAR Shares as to which the SAR is being exercised. 
 2.4 Other Documents. Upon any exercise of the SAR, Participant must furnish Corporation before the closing of such exercise such
other documents or representations as Corporation may require to assure compliance with applicable laws and regulations. 
 2.5
Settlement of SAR. Upon exercise of the SAR for all or a portion of the SAR Shares after the SAR has become exercisable, Corporation will calculate the SAR Spread, the Tax Offset Amount, and the Net SAR Value and will convert the Net SAR
Value into a whole number of SAR Settlement Shares based on the Fair Market Value of a Share on the Exercise Date, with any remaining portion of the Net SAR Value (representing the value of a fractional Share) credited as additional federal income
tax withholding for the Participant’s benefit. Within 10 days following the Exercise Date, Corporation will cause a stock certificate for the SAR Settlement Shares to be delivered to Participant. 
 2.6 Transferability. 
 2.6.1 General. Except as provided in Section 2.6.2, the SAR is not transferable other than by will or the laws of descent and distribution and may be exercised during the lifetime of
Participant only by Participant or, in the case Participant becomes legally incompetent, by Participant’s guardian or legal representative. No assignment or transfer of the SAR in violation of the foregoing restriction, whether voluntary,
involuntary or by operation of law or otherwise, except by will or the laws of descent and distribution, will vest in the assignee or transferee any interest or right whatsoever, but immediately upon any attempt to assign or transfer the SAR, the
SAR will terminate and be of no force or effect. Whenever the word “Participant” is used in any provision of this Agreement under circumstances where the provision should logically be construed to apply to the executor, administrator, or
the person or persons to whom this SAR may be transferred by will or by the laws of descent and distribution, it will be deemed to include such person or persons. 
 2.6.2 Permitted Family Transfers. The SAR may be transferred by Participant, without payment of consideration, to Participant’s immediate family members or lineal descendants (“Permitted
Family Members”), to trusts for the benefit of Permitted Family Members, or to family partnerships or limited liability companies of which Participant and Permitted Family members are the only partners or members. For purposes of this Section,
a transfer of the SAR to a family partnership or limited liability company in exchange for a partnership or limited liability company interest will be deemed to be a transfer without payment of consideration. 
  

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 2.7 Acceleration of Vesting. 
 2.7.1 Change in Control. Upon a Change in Control Date during the term of the SAR, the SAR will become fully exercisable to the
extent it had not yet become exercisable. This acceleration will not extend the date on which the SAR terminates. 
 2.7.2
Death or Disability. In the event Participant dies or terminates Employment by reason of Disability during the term of the SAR, the SAR will become fully exercisable to the extent it had not yet become exercisable. 
 2.8 Other Events. 
 2.8.1 Dissolution. The SAR will terminate upon the effective date of a dissolution or liquidation of Corporation. 
 2.8.2 Merger. In the event of a merger or consolidation in which Corporation is not the resulting or surviving corporation (or in which Corporation is the resulting or surviving corporation but becomes a subsidiary of another
corporation), the SAR will automatically be converted into an SAR with respect to a number of shares of the stock of the resulting or surviving corporation (or, in the event Corporation becomes a subsidiary of another corporation, such other
corporation) into which Corporation’s Shares are converted in the transaction with such terms and conditions, both as to number of shares, SAR price, and otherwise, as will substantially preserve the economic rights and benefits of Participant
under this Agreement. 
 3. Conditions Precedent 
 Corporation will use its best efforts to obtain approval of the Plan and this SAR by any state or federal agency or authority that Corporation determines has jurisdiction. If Corporation determines that
any required approval cannot be obtained, this SAR will terminate on notice to Participant to that effect. Without limiting the foregoing, Corporation will not be required to issue any Shares upon exercise of all or any portion of the SAR until
Corporation has taken all action required to comply with all applicable federal and state securities laws. 
 4. Successorship

 Subject to restrictions on transferability set forth in Section 2.7, this Agreement will be binding upon and benefit
the parties, their successors and assigns. 
  

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 5. Notices 
 Any notices under this SAR must be in writing and will be effective when actually delivered personally or, if mailed, when deposited as registered or certified mail directed to the address of
Corporation's records or to such other address as a party may certify by notice to the other party. 
 6. Arbitration 
 Any dispute or claim that arises out of or that relates to this Agreement or to the interpretation, breach, or enforcement of this Agreement,
shall be resolved by mandatory arbitration in accordance with the then effective arbitration rules of the American Arbitration Association, and any judgment upon the award rendered pursuant to such arbitration may be entered in any court having
jurisdiction thereof. 
 7. Defined Terms 
 When used in this Agreement, the following terms have the meaning specified below: 
 •     Acquiring Person means any person or related person or related persons which constitute a “group” for purposes of Section 13(d) and Rule 13d-5 under
the Securities Exchange Act of 1934 (the “Exchange Act”), as such Section and Rule are in effect as of the Grant Date; provided, however, that the term Acquiring Person shall not include (a) Corporation or any of its Subsidiaries,
(b) any employee benefit plan or related trust of Corporation or any of its Subsidiaries, (c) any entity holding voting capital stock of Corporation for or pursuant to the terms of any such employee benefit plan, or (d) any person or
group solely because such person or group has voting power with respect to capital stock of Corporation arising from a revocable proxy or consent given in response to a public proxy or consent solicitation made pursuant to the Exchange Act.

 •     Base Price means the per-Share Base Price specified in the cover sheet
for this Award Agreement. 
 •     Change in Control of Corporation means:

 (a) The acquisition by any Acquiring Person of beneficial ownership (within the meaning of Rule 13d-3 under
the Exchange Act) of 20 percent or more of the combined voting power of the then outstanding Voting Securities; provided, however, that for purposes of this paragraph (a) the following acquisitions will not constitute a Change in Control:
(i) any acquisition directly from Corporation, (ii) any acquisition by Corporation, (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by Corporation or any corporation controlled by
Corporation, or (iv) any acquisition by any corporation pursuant to a transaction that complies with clauses (i), (ii), and (iii) of paragraph (c) of this definition of Change in Control; or 
  

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 (b) During any period of 12 consecutive calendar months, individuals who at
the beginning of such period constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual who becomes a director during the period whose election,
or nomination for election, by Corporation’s stockholders was approved by a vote of at least a majority of the directors then constituting the Incumbent Board will be considered as though such individual were a member of the Incumbent Board,
but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of
proxies or consents by or on behalf of a Person other than the Board; or 
 (c) Consummation of a reorganization,
merger, or consolidation or sale or other disposition of all or substantially all of the assets of Corporation (a “Business Combination”) in each case, unless, following such Business Combination, (i) all or substantially all of the
individuals and entities who were the beneficial owners of the Voting Securities outstanding immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50 percent of, respectively, the then outstanding shares
of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without
limitation, a corporation which as a result of such transaction owns Corporation or all or substantially all of Corporation’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership,
immediately prior to such Business Combination, of the Voting Securities, (ii) no Person (excluding any employee benefit plan, or related trust, of Corporation or such corporation resulting from such Business Combination) beneficially owns,
directly or indirectly, 20 percent or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such
corporation except to the extent that such ownership existed prior to the Business Combination and (iii) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of
Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 
  

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 (d) Approval by the stockholders of Corporation of any plan or proposal for
the liquidation or dissolution of Corporation. 
 •     Change in Control Date
means the first date following the Grant Date on which a Change in Control has occurred. 
 •
    Disability means the condition of being permanently unable to perform Participant’s duties for an Employer by reason of a medically determinable physical or mental impairment that can be expected to result in
death or that has lasted or can be expected to last for a continuous period of at least 12 months. 
 •
    Exercise Date means the date the SAR is exercised in whole or in part. 
 •
    Net SAR Value means, for each exercise of all or a portion of the SAR, (a) the product of the SAR Spread multiplied by the number of SAR Shares as to which the SAR is exercised, less (b) the Tax Offset Amount
for such exercise. 
 •     SAR Settlement Shares means, for each exercise of all
or a portion of the SAR, the number of Shares equal to the Net SAR Value divided by the Fair Market Value of a Share on the Exercise Date (rounded down to the nearest number of whole Shares). 
 •     SAR Spread means the excess of the Fair Market Value of a Share on the Exercise Date of
the SAR over the Base Price. 
 •     Tax Offset Amount means, for each exercise
of all or a portion of the SAR, the aggregate amount of federal, state, and local withholding taxes and Participant's portion of all applicable payroll taxes attributable to the SAR Spread upon exercise of the SAR to be withheld and paid to the
appropriate taxing authorities by Employer. 
 •     Voting Securities means
Corporation’s issued and outstanding securities ordinarily having the right to vote at elections of directors. 
 •     Capitalized terms not otherwise defined in this Agreement have the meanings given them in the Plan. 
  

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