Document:

Exhibit 10.2

 

COMMERCIAL SUBLEASE AGREEMENT

 

THIS SUBLEASE dated this 1st day of December, 2019

 

BETWEEN:

 

ICT Investments LLC

(the "Sublandlord")

 

OF THE FIRST PART

 

- AND -

 

Laser Photonics Corporation

(the "Subtenant")

 

OF THE SECOND PART

 

Background

 

		A.	This is an agreement (the "Sublease") to sublet real property according to the terms specified below.

 

		B.	The master lease (the "Master Lease") is dated September 27, 2016 and is between Davis and Harrell LLC (the
 "Landlord") and the Sublandlord with respect to the following lands and any improvements on those lands (the "Premises"):
1101 N Keller Rd, Orlando, Florida, 32810.

 

		C.	The Subtenant is willing to undertake certain obligations of the Master Lease.

 

IN CONSIDERATION OF the Sublandlord subletting and the
Subtenant renting the Subleased Premises, both parties agree to keep, perform and fulfill the promises, conditions and agreements
below:

 

	 	 	Subleased Premises
	 	 	 
		1.	The Sublandlord leases to the Subtenant the portion of the Premises (the "Subleased Premises") described as follows:
Suite G1, Suite G2. The total area of the Subleased Premises is 18,000 square feet.

 

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	 	 	Term
	 	 	 
		2.	The term (the "Term") of the Sublease is a periodic tenancy commencing at 12:00 noon on December 1, 2019 and
continuing on a month-to-month basis until the Sublandlord or the Subtenant terminates the tenancy.

 

		3.	The provisions of this Sublease are subject to the terms and restrictions of the Master Lease.

 

	 	 	Rent
	 	 	 
		4.	The amount of rent and the conditions of payment are monthly payments of $14,377.50

 

		5.	The Subtenant will deliver or send the rent to the Sublandlord at:

 

ICT Investments, LLC

3217 Yattika
Place,

Longwood, FL 32779

 

	 	 	Use of Subleased Premises
	 	 	 
		6.	Except as otherwise provided in this Sublease, the Subtenant and the agents and employees of the Subtenant will only use the
Subleased Premises for a purpose consistent with the permitted use allowed in the Master Lease. Further, the Subtenant agrees to
comply with all other applicable provisions of the Master Lease, and will not do anything that would constitute a violation of
any part or condition of the Master Lease.

 

	 	 	Maintenance and Repairs
	 	 	 
		7.	The Subtenant agrees to surrender and deliver to the Sublandlord the Subleased Premises and all furniture and decorations within
the Subleased Premises in as good a condition as they were at the beginning of the Term, reasonable wear and tear excepted.  The
Subtenant will be liable to the Sublandlord and the Landlord for any damages occurring to the Subleased Premises or the contents
of the Subleased Premises or to the building which are done by the Subtenant or the Subtenant's guests.

 

		8.	The Subtenant will immediately report all general maintenance issues and needed repairs to the Sublandlord and the Landlord.

 

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	 	 	Taxes
	 	 	 
		9.	The Subtenant will pay any privilege, excise and other taxes duly assessed against the business of the Subtenant, the Subleased
Premises and any personal property on or about the Subleased Premises. The Subtenant will avoid the assessment of any late fees
or penalties.

 

	 	 	Event of Default
	 	 	 
		10.	The Subtenant will default under this Sublease if any one or more of the following events (the "Event of Default")
occurs:

 

		a.	The Subtenant fails to pay the Rent to the Sublandlord or any amount of it when due or within any grace period, if any.

 

		b.	The Subtenant fails to perform any of its obligations under this Sublease or any applicable obligation under the Master Lease.

 

		c.	The Subtenant becomes insolvent, commits an act of bankruptcy, becomes bankrupt, takes the benefit of any legislation that
may be in force for bankrupt or insolvent debtors, becomes involved in a voluntary or involuntary winding up, dissolution or liquidation
proceeding, or if a receiver will be appointed for the affairs of the Subtenant.

 

		d.	The Subtenant abandons the Subleased Premises or any part of the Subleased Premises.

 

		e.	The Subtenant uses the Subleased Premises for any unpermitted or illegal purposes.

 

		f.	The Subtenant fails to commence, diligently pursue, and complete the Subtenant's work to be performed pursuant to this Sublease
pertaining to the Subleased Premises.

 

		g.	The Subleased Premises, or any part of the Subleased Premises is completely or partially damaged by fire or other casualty
that is due to the Subtenant's negligence, willful act, or that of the Subtenant's employee, family, agent, or guest.

 

		h.	Any other event of default provided in the Master Lease or the Act.

 

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Remedies

 

		11.	Upon the occurrence of any Event of Default, the Sublandlord has any or all of the following remedies:

 

		a.	Terminate the Sublease upon the greater of any notice required in the Master Lease or the Act and the Term will then immediately
become forfeited and void.

 

		b.	The Sublandlord may, but is not obligated to, perform on behalf of the Subtenant, any obligation of this Sublease or the Master
Lease which the Subtenant has failed to perform. The Sublandlord may seek redress from the Subtenant for such performance.

 

		c.	The Sublandlord may reenter the Subleased Premises or any part of the Subleased Premises and in the name of the whole repossess
and enjoy the same as of its former state anything contained within the Subleased Premises.

 

		d.	Any other remedy provided in the Master Lease or the Act.

 

		12.	No reference to or exercise of any specific right or remedy by the Sublandlord will prejudice or preclude the Sublandlord from
any other remedy whether allowed at law or in equity or expressly provided for in this Sublease or the Master Lease. No such remedy
will be exclusive or dependent upon any other such remedy, but the Sublandlord may from time to time exercise any one or more of
such remedies independently or in combination.

 

		13.	Upon the expiration, termination or cancellation of the Master Lease or this Sublease, all obligations of the parties under
this Sublease will be extinguished.

 

		14.	Any improvements remaining on the Subleased Premises upon termination will revert to the Sublandlord and will be free of any
encumbrance at the time of such reversion.

 

	 	 	Surrender of Premises
	 	 	 
		15.	At the expiration of the Term of this Sublease, the Subtenant will quit and surrender the Premises in as good a state and condition
as they were at the commencement of this Lease, reasonable use and wear and damages by the elements excepted.

 

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	 	 	Governing Law
	 	 	 
		16.	It is the intention of the parties to this Sublease that the tenancy created by this Sublease and the performance under this
Sublease, and all suits and special proceedings under this Sublease, be construed in accordance with and governed, to the exclusion
of the law of any other forum, by the laws of Florida, without regard to the jurisdiction in which any action or special proceeding
may be instituted.

 

	 	 	Severability
	 	 	 
		17.	If there is a conflict between any provision of this Sublease and the applicable legislation of Florida (the "Act"),
the Act will prevail and such provisions of the Sublease will be amended or deleted as necessary in order to comply with the Act.
Further, any provisions that are required by the Act are incorporated into this Sublease.

 

		18.	In the event that any of the provisions of this Sublease will be held to be invalid or unenforceable in whole or in part, those
provisions to the extent enforceable and all other provisions will nevertheless continue to be valid and enforceable as though
the invalid or unenforceable parts had not been included in this Sublease and the remaining provisions had been executed by both
parties subsequent to the expungement of the invalid provision.

 

	 	 	Assignment and Subletting
	 	 	 
		19.	The Subtenant will not assign, transfer or further sublet the Subleased Premises or any part of the Subleased Premises without
the prior written consent of the Sublandlord and the Landlord.

 

	 	 	Notices 
	 	 	 
		20.	Unless otherwise specifically provided in this Sublease, all notices from the Subtenant to the Sublandlord will be served or
sent to the Sublandlord at the following address:

1101 N Keller Rd, Suite G, Orlando, FL 32810.

 

		21.	Unless otherwise specifically provided in this Sublease, all notices from the Sublandlord to the Subtenant will be served or
sent to the Subtenant at the following address:

1101 N Keller Rd, Suite G, Orlando, FL 32810.

 

		22.	All notices to be given under this Sublease will be in writing and will be served personally or sent by certified or registered
mail using the United States Postal Service.

 

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	 	 	Master Lease
	 	 	 
		23.	Except as otherwise expressly provided in this Sublease, the Subtenant will perform all applicable duties and obligations of
the Sublandlord under the Master Lease from September 27, 2016 until the end of the Term of this Sublease.

 

		24.	Except as otherwise expressly provided in this Sublease, the Sublandlord will have, as to the Subtenant, all applicable rights
and remedies that the Landlord has with respect to the Sublandlord in the Master Lease.

 

		25.	This Sublease contains all of the conditions and terms made between the parties to this Sublease, and may not be modified orally
or in any other manner other than by agreement in writing signed by all parties to this Sublease or their respective successors
in interest.

 

		26.	This Sublease incorporates and is subject to the Master Lease, a copy of which has been or will be later provided to the Subtenant,
and which is incorporated as if it were set out in this Sublease.

 

	 	 	General Provisions 
	 	 	 
		27.	In the event of any legal action concerning this Sublease, the losing party will pay to the prevailing party reasonable attorney's
fees and court costs to be fixed by the court and such judgment will be entered.

 

		28.	The Sublandlord may enter the Subleased Premises upon 24 hours notice for any of the following reasons:

 

		a.	to inspect the Subleased Premises;

 

		b.	to maintain the Subleased Premises; or

 

		c.	to make repairs that the Sublandlord is obligated to perform.

 

		29.	This Sublease will extend to and be binding upon and inure to the benefit of the respective heirs, executors, administrators,
successors and assigns, as the case may be, of each party to this Sublease. All covenants are to be construed as conditions of
this Sublease.

 

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		30.	All sums payable by the Subtenant to the Sublandlord under any provision of this Sublease will be deemed to be Additional Rent
and will be recovered by the Sublandlord as rental arrears.

 

		31.	Where there is more than one Subtenant executing this Sublease, all Subtenants are jointly and severally liable for each other's
acts, omissions and liabilities under this Sublease.

 

		32.	The Subtenant will be charged an additional amount of $25.00 for each N.S.F. check or check returned by the Subtenant's financial
institution.

 

		33.	All schedules to this Sublease are incorporated into and form an integral part of this Sublease.

 

		34.	Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Sublease.
Words in the singular mean and include the plural and vice versa. Words in the masculine include the feminine and vice versa. The
words "Sublandlord" and "Subtenant" as used in this Sublease include the plural as well as the singular; no
regard for gender is intended by the language in this Sublease.

 

		35.	This Sublease may be executed in counterparts.

 

		36.	Time is of the essence in this Sublease.

 

		37.	The Sublandlord and the Subtenant have no interest or other rights of ownership in each other. The parties to this Sublease
are not agents for each other. Under no circumstances will this Sublease be construed as creating a partnership or joint venture
between the parties to this Sublease.

 

		38.	Each signatory to this Sublease acknowledges receipt of an executed copy of this Sublease.

 

		39.	This Sublease will not be valid and binding on the Sublandlord and Subtenant unless and until it has been completely executed
by and delivered to both parties and the Landlord has consented to this Sublease.

 

IN WITNESS WHEREOF  the Sublandlord and the Subtenant
have duly affixed their signatures under hand and seal on this 1st day of December, 2019.

 

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	 	 	ICT Investments, LLC
	  	 	 
	Witness	 	per:	 	(SEAL)
	 	 	 
	  	 	Laser Photonics Corporation 
	 	 	 
	Witness	 	per:	 	(SEAL)

 

    Page 8 of 8hstm-ex1018_56.htm

EXHIBIT 10.18

HealthStream, Inc. 

Board of Directors 

Compensation Committee

2020 Executive and Corporate Management Cash Incentive Bonus Plan 

 

Overview:

 

Pursuant to the HealthStream, Inc. 2016 Omnibus Incentive Plan, the Compensation Committee (the “Committee”) of the Board of Directors of HealthStream, Inc. (the “Company”) hereby establishes this 2020 Executive and Corporate Management Cash Incentive Bonus Plan (the “Plan”).  The Plan is the cash-based, short-term incentive portion of HealthStream's incentive compensation structure for certain executive officers, as well as the vice presidents, associate vice presidents, and directors who are assigned to a corporate function, as opposed to a business unit specific function (such individuals referred to collectively as “Management”).  The purpose of the Plan is to specify appropriate opportunities to earn a cash bonus with respect to the Company’s 2020 fiscal year in order to reward Management for the Company’s financial performance during fiscal year 2020 and to further align their interests with those of the shareholders of the Company.

 

Definitions:

 

	
 
	
•
	
Actual Operating Income before bonuses – The Company’s Operating Income achieved in fiscal 2020, excluding bonuses. 

 

	
 
	
•
	
Annual Bonus – The annual bonus paid to Management after the Committee determines the applicable financial measure has been achieved.

 

	
 
	
•
	
Incremental Operating Income - Actual Operating Income before bonuses less Target Operating Income.

 

	
 
	
•
	
Operating Income – The Company’s operating income for the 2020 fiscal year calculated in accordance with generally accepted accounting principles under ASC 606 and consistent with the Company’s past practice and presented in the Company’s audited financial statements, provided the following are excluded from the calculation of Operating Income: (i) acquisition and divestiture expenses incurred within the calendar year to the extent such expenses are in excess of the amount originally allocated to such purpose in the Company’s 2020 budget; and (ii) operating income (loss) from acquisitions and divestitures consummated during the calendar year (collectively, the “Excluded Expenses”).  The Committee has the negative discretion to include the Excluded Expenses in the calculation of Operating Income. 

 

	
 
	
•
	
Target Operating Income – Operating Income for the 2020 fiscal year in an amount established by the Committee by resolution within the first 90 days of the Company’s 2020 fiscal year.

 

 

 

 

2020 Financial Measure and Plan Principles:

 

	
 
	
1.
	
The financial measure for  is Operating Income - Operating Income will be the financial measure for 2020.

 

	
 
	
2.
	
The Annual Bonus is funded by Incremental Operating Income - The Annual Bonus will be earned from the amount of Incremental Operating Income. 

 

The Plan

 

Eligibility

 

Three groups are eligible for participation in the Plan:

 

	
 
	
•
	
Executive Team – The maximum Annual Bonus that Executive Team members, other than the Chief Executive Officer of HealthStream and the President & Chief Operating Officer of HealthStream, shall be eligible to receive under the Plan shall be an amount equal to 30% of such member’s base salary; provided the CEO and the President & COO shall be eligible to receive an amount equal to 40% of their base salary.  Unless otherwise excluded below, the Executive Team eligible for participation includes the Chief Executive Officer, President & Chief Operating Officer, and Senior Vice Presidents of the Company.

 

	
 
	
•
	
      Leadership Team (Vice Presidents and Associate Vice Presidents) – The   

      maximum Annual Bonus that Vice Presidents and Associate Vice Presidents of     

      the Business Unit shall be eligible to receive under the Plan shall be an amount 

      equal to 16% of such Vice President or Associate Vice President’s base salary.

 

	
 
	
•
	
Senior Directors - The maximum Annual Bonus that Senior Directors of the Business Unit shall be eligible to receive under the Plan shall be an amount equal to 8% of such Senior Director’s base salary.  For purposes of clarity, Directors do not include members of the Board of Directors, but are management-level employees of the Company.

 

	
 
	
•
	
Directors - The maximum Annual Bonus that Directors of the Business Unit shall be eligible to receive under the Plan shall be an amount equal to 6% of such Director’s base salary.  For purposes of clarity, Directors do not include members of the Board of Directors, but are management-level employees of the Company.

 

	
 
	
•
	
      Employment Requirements – Participants in the Plan who were employed with   

the Company through December 31, 2020 shall be eligible to receive bonus payments, if any, under the Plan regardless of whether such employees are employed on the date such payments are actually made.  Notwithstanding the foregoing, in the case of death or disability, the participant’s pro rata share from 

 

 

January 1, 2020 through the date of participant’s death or disability shall be awarded.

 

	
 
	
•
	
Exclusions - Members of the Executive Team with a commission based incentive compensation plan shall not be eligible to participate in the Plan.  Additionally, members of the Executive Team who are eligible to participate in any one of the following shall not be eligible to participate in the Plan:  (i) the 2020 Workforce Development Cash Bonus Incentive Plan, or (ii) the 2020 Provider Solutions Cash Bonus Incentive Plan.

 

Payout 

 

Payouts under the Plan shall be determined as follows:

 

	
 
	
1.
	
Incremental Operating Income will be determined by subtracting the Target Operating Income from Actual Operating Income before bonuses.  The Incremental Operating Income will then be multiplied by 30% of base salary for each member of the Executive Team other than the Chief Executive Officer and the President & COO, 40% of base salary for the CEO and the President & COO, 16% of base salary for each member of the Leadership Team, 8% of base salary for each Senior Director, and 6% of base salary for each Director.

 

	
 
	
2.
	
Any Annual Bonus payouts made to the Executive Team, Leadership Team, Senior Directors, or Directors pursuant to the Plan shall be payable at such time as bonuses are paid generally to executive officers of the Company.

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