Document:

ex102.htm

 

	Exhibit 10.2	 EXECUTION VERSION

 

 

AMENDMENT NO. 1 TO ASSET PURCHASE AGREEMENT

 

This Amendment No. 1 (this “Amendment”) is made to that certain Asset Purchase Agreement (the “Agreement”), dated as of March 4, 2013, by and between Seller and Buyer.  Each capitalized term used but not otherwise defined herein shall have the meaning ascribed to such term in the Agreement.

 

WHEREAS, pursuant to Section 7.1 of the Agreement, the Agreement may be amended, provided that any such amendment shall be binding upon a Party only if such amendment is set forth in writing executed by such Party; and

 

WHEREAS, the undersigned parties desire to amend the Agreement as set forth herein effective as of March 13, 2013 for the purpose of changing the terms of the Agreement as set forth herein and reaffirming the other terms and provisions of the Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

AMENDMENT PROVISIONS

 

1. Article 1 is hereby amended to include the following defined term in alphabetical order:

 

“State Tax Warrants” has the meaning given to such term in Section 2.4(d).

 

2. A new Section 2.4(d) of the Agreement is hereby added as follows:

 

	
(a)  

	
State Tax Warrants.  Notwithstanding anything to the contrary herein, Buyer and Seller agree that the Owned Real Property may be conveyed to Buyer at the Closing subject to certain Indiana State Tax Warrants attached hereto as Exhibit A (the “State Tax Warrants”), which State Tax Warrants will be terminated on or prior to the date which is one hundred eighty (180) days following the Closing Date.

 

GENERAL PROVISIONS

 

3. Except to the extent of the changes described in Sections 1 and 2 above, the Agreement shall remain in full force and effect and any dispute under this Amendment shall be resolved in accordance with the terms of the Agreement.

 

4. The provisions of the Agreement set forth in Article 7 thereof shall apply mutatis mutandis to this Amendment.

 

5. Unless the context otherwise requires, any other document or agreement that refers to the Agreement shall be deemed to refer to the Agreement, giving effect to this Amendment (and any other amendments to the Agreement made from time to time pursuant to its terms).

 

* * * * * *

 

 

  

1

  

 

IN WITNESS WHEREOF, the undersigned have executed or caused to be executed on their behalf this Amendment as of the date first written above.

	 	SELLER:	 
	 	 	 
	 	WORKHORSE CUSTOM CHASSIS, LLC	 
	 	 	 	 
	
 

	
By: 

	/s/ William H. Osborne	 
	 	Name:	William H. Osborne	 
	 	Its:	President	 
	 	 	 	 
	 	BUYER:	 
	 	 	 	 
	 	AMP TRUCKS INC.	 
	 	 	 
	 	By:	/s/ Stephen S. Burns	 
	 	Name:	Stephen S. Burns	 
	 	Its:	CEO	 

 

 

 

Signature Page to the First Amendment to Asset Purchase Agreement

 

  

2

  

Exhibit A

 

State Tax Warrants

 

 

See Attached.Exhibit10.14--10K

Exhibit 10.14

June 21, 2007

Pat Bogusz
5141 Ewing Ave. S.
Minneapolis, MN 55410

Dear Pat,

We are pleased to extend you an offer for the position of Vice President/Controller with BioScrip, Inc. (together with its subsidiaries, the “company”), reporting to Phil Keller, Vice President of Finance.  We would like your promotion to become effective on June 25, 2007.  

This offer includes an annual salary of $165,000.  Additionally, in your new position you will be eligible to participate in an incentive plan that is designed to deliver an annual bonus targeted at 30% of base salary.  You will be entitled to four weeks (20 business days) of vacation per year.  Your vacation will be earned according to the customary policies of the Company.  In addition, your group life insurance coverage will increase to $300,000.  You will continue to be option/grant eligible commensurate with your level of employment.  Any future options and grants will be determined by the Board when they next convene.  
 
Following commencement of your promotion, if you are terminated by the Company (or any successor) other than for “Cause” (as defined below) you will be entitled to receive severance payments equal to twelve (12) months of salary at your then current salary level, payable in accordance with the Company’s then applicable payroll practices and subject to all applicable federal, state and local withholding, and (ii) all outstanding securities contemplated to be issued under the terms of the Company’s 2001 Incentive Stock Plan granted to you and held by you at the time of termination shall vest and become immediately exercisable and shall otherwise be exercisable in accordance with their terms and conditions.  If your employment with the Company is terminated for any reason whatsoever, whether by you or the Company, the Company would not be liable for, or obligated to pay you any stock or cash bonus compensation, incentive or otherwise, or any other compensation contemplated hereby not already paid or not already accrued as of the date of such termination, and no other benefits shall accrue or vest subsequent to such date.
For purposes of this Agreement, “Cause” shall mean any of the following:  (i) commission by you of criminal conduct which involves moral turpitude; (ii) acts which constitute fraud or self-dealing by or on the part of you against the Company or any of its subsidiaries, including, without limitation, misappropriation or embezzlement; (iii) your willful engagement in conduct which is materially injurious to the Company or any of its subsidiaries; (iv) your gross misconduct in the performance of duties as an employee of the Company, including, without limitation, failure to obey lawful written instructions of the Board of Directors of the Company, any committee thereof or any executive officer of the Company or failure to correct any conduct which constitutes a breach of any written agreement between you and the Company or of any written policy promulgated by the Board of Directors of either the Company, any committee thereof or any executive officer of the Company, in either case after not less than ten days' notice in writing to you of the Company's intention to terminate you if such failure is not corrected within the specified period (or after such shorter notice period if the Company in good faith deems such shorter notice period to be necessary due to the possibility of material injury to the Company).

Please confirm your decision to accept this position by signing, dating, and returning this letter to me.  If you have any questions regarding your promotion, please don’t hesitate to call me at 952-979-3633.  Congratulations on your new position.

Sincerely,
I accept the offer of employment as stated.
/s/ Becky Skouge

Beckey Skouge                   /s/ Pat Bogusz                6/21/07
Director, Human Resources            Pat Bogusz                    DateExhibit10.15--10K

                                                                                                                Exhibit  10.15

May 26, 2011
Patricia Bogusz 
5141 Ewing Ave. South 
Minneapolis, MN 55410
Re:    Amendment to Offer Letter Date June 21, 2007
This letter will confirm our discussions regarding your appointment to the position of Vice President, Finance reporting to MJ Graves.  You are entitled to certain benefits as a result of your acceptance of the position.  Subject to the terms and conditions of this letter, you acknowledge and understand that you are an employee at will.  This letter contemplates certain changes to the offer letter originally given to you on June 21, 2007.  Except as stated below, all provisions out lined in that letter remain intact.
		
	•
	This offer letter includes an annual salary of $223,080 payable on a bi-weekly basis, subject to applicable taxes and other withholdings.  Your new base salary is effective April 2, 2011.

		
	•
	You would be eligible to participate in BioScrip’s Management Incentive Bonus Program as long as you remain continuously employed with BioScrip through the date the bonus is paid.  You would be eligible for a bonus of up to 30% of your base salary with the pool determined by the Company and the Board of Directors and subject to corporate, departmental and individual objectives being met.

		
	•
	As a condition to your employment, you will be obligated to enter into a restrictive covenant agreement covering, among other things, non-competition provisions, non-solicitation provisions, and the protection of the Company’s trade secrets.  We have agreed that you will not be bound by the terms of section 3 (a) and you are free to work for a competitor.  Should you however choose to accept employment with competitor, any remaining severance payments will be reduced to an amount equal to the difference between your base salary on the date of your termination and your new base salary or if your new base salary is the same or greater than your salary on the date of termination no further payments will be made.

		
	•
	Subject to approval of the Compensation Committee of the board of Directors, you would be granted options to purchase 50,000 shares of the Company’s common stock, par value $0.0001 per share.  The exercise price of the options shall be the market price on the date the option grant is approved by the Board of Directors.  The options would vest in three equal amounts at the rate of one-third per year over three years commencing on the first anniversary of the grant date.

		
	•
	If you are terminated other than for “cause” as defined in your offer letter, upon execution of the Company’s Standard Waiver and Release Agreement, (i) you will be eligible to receive severance payments equal to one (1) year of salary at your then current base salary payable in accordance with the Company’s then applicable payroll practices and subject to all applicable federal state and local withholding, and (ii) all options contemplated to be issued under the terms of the Company’s stock option plans granted and help by you at the time of termination shall vest and become immediately exercisable and shall otherwise be exercisable in accordance with their terms and conditions.

Please call me to discuss any questions or comments that you may have regarding these terms.
We are very pleased to have you as part of the Management team!

Sincerely,
/s/ Vito Ponzio, Jr
Vito Ponzio, Jr. 
Senior Vice President, Human Resources 
(914)460-1625 Direct 
(914)564-4928 Cell 
vponzio@bioscrip.com
I accept the offer as stated.
Pat Bogusz
/s/ Pat Bogusz                        6-1-11
Signature                        Date signed

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