Document:

Executive Retention Bonus Agreement

 Exhibit 10.1 
 [BI-LO HOLDING, LLC LETTERHEAD] 
 January 11, 2012 

Peter L. Lynch 
 President & CEO

 Winn-Dixie Stores, Inc. 
 5050
Edgewood Court 
 Jacksonville, FL 32254-3699 
  

	Re:	Winn-Dixie Stores, Inc. Executive Retention Bonus Agreement 

 Dear Peter: 
 As you know, pursuant to the Agreement and Plan of Merger (“Merger
Agreement”) among Opal Holdings, LLC, Opal Merger Sub, Inc., and Opal, Inc. (also known as Winn-Dixie Stores, Inc.) (the “Company”), dated as of December 16, 2011, Opal Merger Sub will be merged with and into
the Company (the “Merger”), and the Company will become an indirect wholly-owned subsidiary of BI-LO Holding, LLC (“Parent”). To encourage you to remain with the Company and to use your best efforts to promote the success
and profitability of the Company and its integration with Parent from the signing of the Merger Agreement through the end of the first full Grocery Period (as defined below) occurring after the Closing of the Merger (“Transition Period”),
the Parent, on behalf of the Company, is pleased to offer you with the opportunity to earn a (i) Performance Bonus and (ii) Discretionary Bonus from the Company, as follows: 

(i) You are employed by the Company pursuant to the terms of an Employment Agreement dated October 23, 2006 and amended by a First
Amendment to Employment Agreement dated November 20, 2007 (collectively, the “Employment Agreement”). The Employment Agreement shall remain in full force and effect unless and until amended or terminated in accordance with its terms.
Without waiving any of your rights under the Employment Agreement, you understand that on and after the closing of the Merger, you will no longer be the Chief Executive Officer or Chairman of the Board of the Company, but rather will be an adviser
to the Company. You also acknowledge and agree that you will solely be an employee of the Company and not the Parent hereunder. As a result of the foregoing, Parent will not contest that your anticipated removal as the Company’s Chairman and
Chief Executive Officer would give rise to your right to resign for Good Reason pursuant to Section 4(e) of the Employment Agreement. 

 Peter L. Lynch 
 January 11, 2012 
  Page
 2
 
  

 (ii) Contingent upon the closing of the Merger, if you remain employed with the Company
through the Transition Period, then for each Grocery Period ending within the Transition Period in which the Company meets its fiscal 2012 Budgeted EBITDA and Cash Balance Targets (each, a “Target”), as set forth in the latest revisions to
the Company’s FY12 Annual Operating Plan and FY12 Cash Flow Forecast, and as determined by the Parent in good faith, in addition to all other compensation to which you may be entitled, you will be entitled to a Performance Bonus from the
Company equal to the quotient of $750,000 divided by the number of Grocery Periods ending within the Transition Period. In the alternative, you may also earn the full $750,000 Performance Bonus if the Company meets its aggregate fiscal 2012 Budgeted
EBITDA and Cash Balance Targets for the entire Transition Period, whether or not such performance goals were met in each and every Grocery Period ending within the Transition Period. In no event may the total Performance Bonus exceed $750,000. For
purposes hereof, “Grocery Period” means the 28 consecutive day period typically construed as a so-called “grocery period” within the grocery industry, as reasonably determined by the Parent in good faith. Any portion of the
Performance Bonus that is earned based on the Company’s unaudited financials as of the end of the Transition Period shall be paid to you by the Company within ten business days of the end of the Transition Period (the “Payment Date”),
subject to normal withholding. If for any Grocery Period the Company cannot determine if the applicable Target has been achieved prior to the Payment Date, any additional earned but unpaid portion of the Performance Bonus shall be paid to you as
soon as practicable following the Payment Date but in no event shall payment be made later than thirty days following the Payment Date. If your employment with the Company is terminated not for Cause under Section 4(d) of the Employment
Agreement after the Closing but prior to the end of the Transition Period, you will nonetheless remain entitled to the Performance Bonus, payable as set forth above. For avoidance of doubt, if your employment is terminated for any other reason prior
to the end of the Transition Period, no Performance Bonus is payable hereunder. 
 (iii) Contingent upon the closing of the
Merger, if you remain employed with the Company through the end of the Transition Period; help drive the integration program (including assisting with the transition of the new management team and integration of the Company with the Parent);
positively embrace and help others to positively embrace the proposed changes; and publicly support the new management’s decisions, all as determined in good faith by the Parent, then, at the sole discretion of the Board of Directors of Parent,
in addition to all other compensation to which you may otherwise be entitled, you will also be entitled to a purely Discretionary Bonus of up to a maximum of $750,000, as determined in the sole discretion of the Board of Directors of Parent. This
amount will be paid to you by the Company within ten business days of the final day of your employment, subject to normal withholding. 

 Peter L. Lynch 
 January 11, 2012 
  Page
 3
 
  

 (iv) Your employment remains subject to the terms of the Employment Agreement. This
Executive Retention Bonus Agreement (this “Agreement”) does not give you any right with respect to continued employment by the Company, Parent, their affiliates, or any successor or assign thereof, or the right to any specific amount of
compensation, or to any particular Company or Parent assets beyond those set forth in the Employment Agreement. Any Performance Bonus or Discretionary Bonus earned hereunder shall not be considered compensation under any other Company or Parent
employee benefit plan and shall not increase any amount due under any other such plan. For avoidance of doubt, any amounts earned hereunder shall not be considered in determining any severance benefit owed under your Employment Agreement or any
benefits owed under any annual incentive plan, death benefit plan, or retirement plan. Amounts due hereunder are unfunded, unsecured general liabilities of the Parent. Your rights to benefits hereunder may not be alienated, transferred or assigned.

 (v) The Parent shall have the right to interpret and construe all issues, eligibility, and benefits hereunder and to
adjudicate all claims and appeals. The validity, interpretation, construction and performance of this Agreement shall in all respects be governed by the laws of the State of Florida. Any dispute relating hereto shall be settled exclusively by
binding arbitration before a single arbitrator in Jacksonville, FL, pursuant to the Commercial Arbitration Rules of the American Arbitration Society. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. Each party
shall bear its own costs of arbitration and own attorney’s fees. 
 (vi) First the Discretionary Bonus and then the
Performance Bonus payable under this Agreement will be reduced to the extent necessary to avoid the payment to you of an “excess parachute payment” subject to the loss of deduction and excise tax under Internal Revenue Code
Sections 280G and 4999. 
 (vii) Benefits hereunder are expressly contingent upon you continuing to comply with the
non-solicitation, non-disparagement, non-disclosure, and non-competition covenants set forth in Section 11 of your Employment Agreement, and such restrictive covenants are hereby incorporated by reference as if set out in full herein.

 Peter L. Lynch 
 January 11, 2012 
  Page
 4
 
  

 
			
	BI-LO Holding, LLC
		
	By:	 	 /s/ Marc L. Lipsky

	
	Name: Marc L. Lipsky
	
	Title: Vice President

  

	
	Accepted:
	
	January 12, 2012
	
	 /s/ Peter L. Lynch

	Peter L. Lynchfs1a5ex10i_xunna.htm

Exhibit 10.1

 

Beijing  Beiyuan Law Firm

北京北元律师事务所

25 Xutucheng Road, Culture Building, Rm204

Haidian District, Beijing 100022 PRC

中国北京西土城路25号文化楼204室

Tel: (8610) 62271655; Fax: (8610) 86865138

电话:(8610)62271655;传真:(8610)86865138

E-mail: lawyerljf@sina.com

Website: www.beiyuanlaw.com

January 11, 2012

Xunna Information Technology Inc.

700 S Henderson RD STE 202

King Of Prussia, PA 19406 USA

Dear Ladies and Gentlemen:

尊敬的先生们和女士们:

We are qualified lawyers of the People’s Republic of China (the “PRC”) and are qualified to issue an opinion on the laws and regulations of the PRC.

我们是中华人民共和国(“中国”)的授予资格的律师,并有资格对中国的法律和法规发表意见。

We have acted as PRC counsel for Xunna Information Technology Inc. (the “Company” or “Xunna”), a company incorporated under the laws of the State of Nevada, in connection with Chinese law issues commented on January 9, 2012 letter by the US Securities and Exchange Commission to the Company’s Registration Statement on Form S-1. In so acting, we have reviewed the Form S-1 and the comment letter dated on January 9, 2012 and examined related laws and regulations as we have deemed necessary or advisable for the purposes of rendering this opinion.

我们已经接受讯纳信息科技公司(“本公司”或“Xunna”)委托——一家根据内华达州法律注册成立的公司,作为中国律师就美国证监会2012年1月9日发出的信中对本公司的登记报告评论的中国法律相关问题提供法律意见。在这样做时,我们审查了登记报告和2012年1月9日的信,并查阅了我们认为为提供本法律意见的目的所必须和明智的相关的法律法规。

 

  

  

  

 

The following terms as used in this opinion are defined as follows:

在这个意见中所使用的下列术语的定义如下:

“Material Adverse Effect” means a material adverse effect on the general affairs, management, condition (financial or otherwise), results of operations, shareholder equity or business prospects of the Company.

“重大不利影响”是指对一般事务、管理,状况(财务或其他)、经营业绩,股东权益或公司的业务前景。

“PRC Laws” means all laws, statutes, regulations, orders, decrees, notices, circulars, judicial interpretations, and subordinary legislations of the PRC.

“中国法律”是指所有的中国的法律、法规、规章、命令、法令、通知、通告、司法解释和地方立法。

Based on the foregoing, we are of the opinion that:

 基于上述,我们提供下面的意见:

We confirm in writing that we are familiar with the company’s organizational structure that Xunna does not have subsidiaries or variable interest entities (“VIEs”) by reviewing the Company’s organizational structure and related articles of incorporation when we were providing the legal opinion.  The reason we used these concepts is that we were addressing “Material Adverse Effect” to Xunna in term of general company background and environment. The Company without subsidiaries or VIEs is within the scope of general company background and environment in term of addressing “Material Adverse Effect.”

我们书面确认,当我们提供上个法律意见时,我们通过审查公司的组织结构和相应的工商登记文件,我们熟悉公司的组织结构—Xunna没有子公司和可变利益实体。我们之所以使用这些概念,是因为我们是从一般公司背景和环境下阐述重大不利影响。从阐述重大不利影响的角度,公司没有子公司或可变利益实体是在一般公司背景和环境考虑的范围之内。

Regarding the approval procedures of restricted industry under the Catalogue for the Guidance of Foreign Investment Industries, according to Article 12 of Provisions on Guiding the Orientation of Foreign Investment (Decree [2002] No.346 of the State Council), “according to the vested approval authority, project with foreign investment, per the nature of project, shall be examined and approved by and filed with the Department of Development Planning (currently it is called National Development and Reform Commission) and the Economic and Trade Department (currently it is called the Ministry of Commerce), respectively. Among those, the projects with foreign investment under the category of restricted industry within the investment amount provided for shall be subject to the examination and approval of the corresponding competent departments of the people's governments of the provinces, autonomous regions, municipalities directly under the Central Government and municipalities separately listed on the State plan, and 

 

  

  

  

 

shall be reported to the competent departments at the next higher level and the competent industrial departments; the power for examination and approval of this kind of projects may not be granted to the authorities at lower levels. The projects with foreign investment in the service area that are opened to the outside world step by step shall be subject to the examination and approval according to the relevant provisions of the State. The projects with foreign investment involving quotas and licenses must apply to the departments for quotas and licenses first. Where there are otherwise provisions of laws and administrative regulations on the procedures and measures for the examination and approval of projects with foreign investment, those provisions shall be observed.” If website design and building service under the Guidance of Foreign Investment Industries is amended into the category of limitation, Xunna has to get the approval procedures aforesaid through to obtain approval to continue its business in the PRC.

关于《外商投资产业指导目录》下限制性行业的审批程序,根据《指导外商投资方向规定》(国务院第346号令)第12条,“根据现行审批权限,外商投资项目按照项目性质分别由发展计划部门和经贸部门审批、备案。其中,限制类限额以下的外商投资项目由省、自治区、直辖市及计划单列市人民政府的相应主管部门审批,同时报上级主管部门和行业主管部门备案,此类项目的审批权不得下放。属于服务贸易领域逐步开放的外商投资项目,按照国家有关规定审批。涉及配额、许可证的外商投资项目,须先向外经贸部门申请配额、许可证。法律、行政法规对外商投资项目的审批程序和办法另有规定的,依照其规定。”如果《外商投资产业指导目录》进行修订,把网站设计和建设服务归为限制类,Xunna必须通过上述审批程序获得继续在中国做生意所需要的批准。

If website design and building service under the Guidance of Foreign Investment Industries is amended into the category of prohibition, the Company would either stop doing business in the PRC or reorganize its equity structure through some ways such as VIEs to get around the PRC laws’ prohibition of foreign ownership of the operation business.

如果《外商投资产业指导目录》进行修订,把网站设计和建设服务归为禁止类,公司要么停止在中国做生意,或者通过比如可变利益实体等方式的重构以绕开中国法对运营商业中的涉外所有权的禁止规定。

 

This opinion relates to the PRC Laws in effect on the date hereof and there is no assurance that any of such laws will not be changed, amended or replaced in the immediate future or in the longer term with or without retrospective effect.

这个意见涉及的中国法律是在本意见发出之日生效的法律,没有任何保证这些法律在不久的将来或长期内不会改变、修改或取代或是否具有追溯效力。

 

  

  

  

 

This opinion is rendered only with respect to the PRC Laws and we have made no investigations in any other jurisdiction and no opinion is expressed or implied as to the laws of any other jurisdiction.

提供这个意见仅仅是有关于中国的法律,我们没有对任何其他司法管辖区进行调查,没有意见被表达或暗示有关任何其他司法管辖区的法律。

We hereby consent to the use of this opinion in, and the filing hereof as an exhibit to, the above-mentioned Form S-1, if necessary. In giving such consent, we do not thereby admit that we fall within the category of the person whose consent is required under Section 7 of the U.S. Securities Act of 1933, as amended, or the regulations promulgated thereunder.

在此,我们同意在上述提到的登记报告里使用这个意见,必要时,作为附件提交。在给予上述同意,我们并不因此承认,我们是1933年美国证券法及其修订的第7部分或其实施细则要求的范畴内的人的同意。

Yours Sincerely,

此致,

Junfeng Li, Partner

李俊峰,合伙人

Beijing  Beiyuan Law Firm

北京北元律师事务所

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