Document:

EX-10.1

 Exhibit 10.1 

Execution Copy 

SUBADVISOR AGREEMENT 

This SUBADVISOR AGREEMENT (this “Agreement”) dated as of February 1, 2021, is by and between Axar Capital Management LP
(the “Sub-Advisor”) and Cornerstone Trust Management Services LLC (the “Investment Advisor”; each a “Party”, together the “Parties”). 

RECITALS: 
 WHEREAS, the
Investment Advisor wishes to engage the Sub-Advisor to provide the Investment Advisor with certain Services as contemplated in this Agreement with respect to the investment and reinvestment of the portfolio
assets (the “Investment Assets”) of (i) the statutorily mandated cemetery, funeral home and other trusts and escrow (the “Trusts”) maintained by to Regions Bank (“Regions”) as Trustee or Escrow
Agent on behalf of various subsidiaries or affiliates of StoneMor Inc., a Delaware corporation (“StoneMor”) and (ii) certain pooled investment vehicles administered by Regions in which certain of the Trusts participate or
invest (the “Pooling Vehicles”) and 
 WHEREAS, the Sub-Advisor wishes to provide
the Investment Advisor with such Services in accordance with the terms and conditions of this Agreement. 
 NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Investment Advisor and the Sub-Advisor hereby agree as follows: 

1. Definitions and Interpretation. The following words and phrases shall have the following meanings when used in this Agreement:

 “Affiliate” has the meaning given in Section 3(b). 

“Affiliated Person” has the meaning given in Section 10(k). 

“Agreement” has the meaning given in the preamble. 

“Initial Term” has the meaning given in Section 6(a). 

“Investment Advisor” has the meaning given in the preamble. 

“Losses” has the meaning given in Section 9(a). 

“Other Account” has the meaning given in Section 3(a). 

“Party” or “Parties” has the meaning given in the preamble. 

“Performance Fee” has the meaning given in Section 7(a). 

“Services” has the meaning given in Section 3(a). 

“StoneMor Board” has the meaning given in Section 7(b). 

“Sub-Advisor” has the meaning given in the preamble. 

“Trust Committee” has the meaning given in Section 7(b). 

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	 	(a)	 Capitalized terms used but not otherwise defined in this Agreement shall have the meanings given to them under
the First Amended and Restated Investment Advisory Agreement between Regions and the Investment Advisor, dated as of January 1, 2021 (as may be amended from time to time, the “Investment Advisory Agreement”).

  

	 	(b)	 References in this Agreement to statutes and any other rules, regulations, statutes, laws or documents shall be
to such rules, regulations, statutes, laws or documents as modified, amended, restated and as in force from time to time. 

  

	 	(c)	 Headings in this Agreement are for convenience only and shall not affect the interpretation of this Agreement.

  

	 	(d)	 “Including” (and with correlative meaning “include”) means including without limiting the
generality of any description preceding such term. 

 2. Engagement of the
Sub-Advisor. The Investment Advisor hereby engages the Sub-Advisor and the Sub-Advisor hereby accepts such engagement on the
terms and conditions herein set forth. 
 3. Duties and Responsibilities. 

 

	 	(a)	 During the term hereof, the Sub-Advisor agrees to perform the services
described in Exhibit A attached hereto and made a part hereof, and such other services as the Parties may mutually agree upon in writing, for the Investment Advisor in respect of the Investment Assets (collectively, the
“Services”). It is understood that the Sub-Advisor shall be an independent contractor of the Investment Advisor, and nothing in this Agreement shall be construed to create a partnership, a
joint venture, an employment arrangement or any similar relationship. Both Parties acknowledge that the Sub-Advisor is not an employee of the Investment Advisor for state or federal tax purposes. The Sub-Advisor currently performs services for various clients (the “Other Accounts”) and shall retain the right to perform services for others during the term of this Agreement; provided that Sub-Advisor shall perform the Services in a manner consistent with its fiduciary duty as an investment adviser and in compliance with all applicable laws and regulations. Further,
Sub-Advisor acknowledges and agrees any recommendation made by Sub-Advisor involving Investment Assets that, if implemented, would constitute a transaction described in
Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended, or any successor provision thereto (without regard to the dollar thresholds in such Item 404(a)) shall be disclosed to the
Trust Committee as required due diligence for the Trust Committee’s review before final approval of such pending transaction or recommendation by the Trust Committee, in addition to any other approval required by StoneMor’s governance
policies. 

  

	 	(b)	 Delegation. The Sub-Advisor, with the prior written approval of
Investment Adviser, may delegate the performance of any of the Services under this Agreement to any person subject to and on the basis of the provisions of this Section 3, including an entity which controls, is controlled by, or under common
control with the Sub-Advisor (an “Affiliate”). In connection with any such delegation, the Sub-Advisor may provide information about the Investment
Advisor and the Investment Assets. The Sub-Advisor shall be responsible for the costs of any such delegation including, without limitation, the fees and expenses of the delegate. The Sub-Advisor shall at all times remain liable for the acts and omissions of any of its delegates in the performance or non-performance of the Services. 

  
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 4. Delivery of Documents. The Investment Advisor shall furnish to the Sub-Advisor copies of any documents, materials or information that the Sub-Advisor may reasonably require to enable it to perform its duties pursuant to this Agreement,
including (i) any notices provided to the Investment Advisor by Regions or any other party with respect to the Investment Assets; (ii) all StoneMor contractual obligations (including but not limited to those arising under any StoneMor
indenture), and (iii) all Investment Advisor and StoneMor internal policies (including but not limited to the Investment Advisor’s compliance manual, conflicts of interest policy and code of ethics). 

5. Personnel. Sub-advisor acknowledges that the Investment Advisor intends to hire a new
employee to support its compliance and investment management functions. Sub-advisor may provide input regarding the selection of such employee, and agrees to work with such employee when hired. 

6. Term, Termination and Survival. 
  

	 	(a)	 This Agreement shall commence on the date of this Agreement and remain in effect until December 31, 2021
(the “Initial Term”). After the Initial Term, this Agreement shall automatically renew for successive one-year terms thereafter, unless this Agreement is (i) terminated by the either
Party upon ninety (90) days’ written notice to the other Party, or (ii) the Investment Advisory Agreement is terminated pursuant to Section 5 of the Investment Advisory Agreement. 

 

	 	(b)	 Upon termination of this Agreement, the Sub-Advisor will be paid any
earned and unpaid Performance Fees for the period through the date of termination, together with reimbursement for the cost of general back office and administrative support through the date of termination contemplated by Section 7 hereof.

  

	 	(c)	 The provisions of Sections 7 (Fees and Responsibility for Costs), 8 (Confidentiality), 9
(Exculpation;Indemnification), and 10 (Miscellaneous) shall survive termination of this Agreement. 

 7.
Fees and Expenses. 
  

	 	(a)	 In consideration of the Services to be performed and covenants given by the
Sub-Advisor herein, the Sub-Advisor shall receive, and the Investment Advisor shall pay the Sub-Advisor, quarterly in arears, a
quarterly performance fee (the “Performance Fee”) equal to: 

  

	 	(i)	 Through December 31, 2021: 1.25 basis points each quarter on the value of the Investment Assets as of the
end of such quarter; and 

  

	 	(ii)	 2022 and thereafter: 2.5 basis points each quarter on the value of the Investment Assets as of the end of such
quarter; 

 provided, that to the extent that a Trust is invested in a Pooling Vehicle, the calculation of the
Performance Fee shall be adjusted to avoid any duplication of value. 
  

	 	(b)	 For purposes of this Section 7, the parties agree that Regions shall be responsible for valuing the
Investment Assets, as described in Sections 7(a) and 7(b) of the Investment Advisory Agreement. The Investment Advisor agrees to promptly provide the Sub-Advisor all valuations provided to it by Regions.
Regions’ determination as to the value of the Investment Assets shall be conclusive upon the parties for purposes of this Agreement. 

  
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 8. Confidentiality 

 

	 	(a)	 The Sub-Advisor will not disclose or use any records or information
obtained pursuant to this Agreement in any manner whatsoever except as needed to perform its responsibilities and duties hereunder and will keep confidential any non-public information obtained directly as a
result of this service relationship, and the Sub-Advisor shall disclose such non-public information only if (i) the Investment Advisor has authorized such
disclosure by prior written consent, which approval shall not be unreasonably withheld and may not be withheld where the Sub-Advisor may be exposed to civil or criminal contempt proceedings for failure to
comply, (ii) such information becomes ascertainable from public or published information or trade sources, (iii) such disclosure is expressly required or requested by applicable federal or state regulatory authorities or is otherwise
reasonably required in order to comply with applicable law, rule or regulation, (iv) requested by the Investment Advisor or Regions or (v) such disclosure is reasonably required by the Sub-Advisor or
its professional advisers, accountants, administrator, custodians, auditors, counterparties and other authorized employees and agents in the performance of their professional services. Notwithstanding the above and for the avoidance of doubt, the Sub-Advisor may use and disclose records and information, including trading history, portfolio holdings, performance information and total return as reasonably required for the preparation of the Sub-Advisor’s track record and its inclusion in the Sub-Advisor’s marketing materials, as part of investor due diligence requests concerning similar investor
products, and as required by the Sub-Advisor’s regulators, including the SEC. 

  

	 	(b)	 The Investment Advisor will not disclose or use the information, records or recommendations supplied by the Sub-Advisor pursuant to this Agreement in any manner except as expressly authorized in this Agreement. The Investment Advisor shall disclose such information, records and/or recommendations only if (i) the Sub-Advisor has authorized such disclosure by prior written consent, (ii) such information or recommendations becomes ascertainable from public or published information or trade sources, (iii) the
Investment Advisor determines such disclosure is required or requested by applicable federal or state regulatory authorities or agencies, or is reasonably required in order to comply with applicable law, rule or regulation, (iv) requested by
the Sub-Advisor or (v) such disclosure is reasonably required by such persons as the Investment Advisor may designate in connection with the Trusts and Pooling Vehicles. Notwithstanding the above and for
the avoidance of doubt, the Investment Advisor may disclose such information (i) to StoneMor, the Board of Directors of StoneMor (the “StoneMor Board”) and any committee of the StoneMor Board (including, for clarity, the Trust
and Compliance Committee of the StoneMor Board (“Trust Committee”), provided that the Investment Advisor and such receiving party take reasonable steps to keep such information confidential, and (ii) as required by Regions and
StoneMor in furtherance of the obligations of each to the Trusts and Pooling Vehicles. 

 9. Exculpation;
Indemnification. 
  

	 	(a)	 To the greatest extent permitted by law, the Sub-Advisor shall not be
liable for any expenses, losses, damages, liabilities, demands, charges and claims of any kind or nature whatsoever (including, without limitation, any legal expenses and costs and expenses relating to investigating or defending any demands, charges
and claims) (“Losses”) by or with respect to any matters pertaining to this Agreement or the services provided hereunder, except to the extent that such Losses are actual Losses proven with reasonable certainty, are not speculative,
are proven to have been fairly within the contemplation of the parties as of the date hereof, and 

  
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are determined by a court of competent jurisdiction or an arbitration panel in a final non-appealable judgment or order to have been the direct result of
an act or omission taken or omitted by the Sub-Advisor during the term hereof which constitutes gross negligence, willful misconduct, bad faith, illegal conduct or reckless disregard of its obligations under
this Agreement. Without limiting the generality of the foregoing, the Sub-Advisor will not be liable for (i) any indirect, special, incidental or consequential damages or other Losses (regardless of
whether such damages or other Losses were reasonably foreseeable); (ii) any inaccuracy or breach of the Investment Advisor’s representations, warranties, covenants or agreements contained herein; or (iii) the Investment Advisor’s acts
or omissions or any Losses resulting from the Sub-Advisor following the Investment Advisor’s instructions or using inaccurate, outdated or incomplete information furnished by Investment Advisor or any
third party. the Sub-Advisor shall not be responsible for any Losses incurred after termination of this Agreement. U.S. federal and state securities laws and ERISA impose liabilities under certain
circumstances on persons who act in good faith; nothing herein shall constitute a waiver or limitation of any rights which Investment Advisor may have, if any, under any applicable U.S. federal and state securities laws or ERISA. Except as provided
in clause (d) below, the Investment Advisor’s rights under this clause (a) shall be the Investment Advisor’s exclusive remedy for any breach by the Sub-Advisor under this Agreement.

  

	 	(b)	 To the greatest extent permitted by law, the Investment Advisor agrees that the
Sub-Advisor shall have no liability for, and the Investment Advisor agrees to reimburse, indemnify and hold the Sub-Advisor, it affiliates, and their partners,
directors, officers and employees and any person controlled by or controlling the Sub-Advisor (collectively, the “Sub-Advisor Indemnified Parties”)
harmless from: all Losses that (i) result from: (A) any misrepresentation, act or omission or any alleged misrepresentation, act or omission by the Investment Advisor or the Investment Advisor’s previous or other advisers or agents,
(B) any inaccuracy or breach of the Investment Advisor’s representations, warranties, covenants or agreements contained herein, (C) the Sub-Advisor following the Investment Advisor’s
agent’s directions or failing to follow the Investment Advisor’s or their unlawful or unreasonable directions, (D) any of the Investment Advisor’s actions or the actions of the Investment Advisor’s previous or other advisers
or other agents, or (E) the failure by any person not controlled by the Sub-Advisor to perform any obligations to the Investment Advisor; or (ii) arise out of or relate to any demand, charge or claim
in respect of a Sub-Advisor Indemnified Party’s acts, omissions, transactions, duties, obligations or responsibilities arising pursuant to this Agreement, unless (y) a court with appropriate
jurisdiction shall have determined by a final judgment that is not subject to appeal that such Sub-Advisor Indemnified Party is liable in respect of the demands, charges and claims referred to in this
subparagraph or (z) such the Sub-Advisor Indemnified Party shall have settled such demands, charges and claims without the Investment Advisor’s consent. The Investment Advisor further agrees to
indemnify and hold the Sub-Advisor Indemnified Parties harmless from and against all Losses resulting from, in connection with, or arising out of any actions taken or not taken by any of the Sub-Advisor Indemnified Parties in good faith reliance on representations made by or on behalf of the Investment Advisor in this Agreement, which will survive the termination of this Agreement.

  

	 	(c)	 In the event that any Sub-Advisor Indemnified Party becomes involved in
any capacity in any action, proceeding, or investigation brought by or against any person in connection with any matter arising out of or in connection with this Agreement, the Investment Advisor agrees to periodically (but no less than on a
quarterly basis) advance funds to (or reimburse) that Sub-Advisor Indemnified Party for the legal and other expenses (including the cost of any investigation and preparation) it expects to incur (or has
incurred) in connection therewith, 

  
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provided that the Sub-Advisor Indemnified Party will promptly repay to the Investment Advisor the amount of any such advanced or reimbursed expenses paid
to it if a court having appropriate jurisdiction shall have determined by a final judgment that is not subject to appeal that the Sub-Advisor Indemnified Party is not entitled to be indemnified by the
Investment Advisor in connection with such action, proceeding or investigation. 

  

	 	(d)	 The Investment Advisor shall have no liability for and Sub-Advisor
agrees to reimburse, indemnify and hold the Investment Advisor, its affiliates (including the Board and Trust Committee) and their respective partners, directors, officers and employees (collectively, the “Investment Advisor Indemnified
Parties”), harmless from all expenses, losses or damages that result from Sub-Advisor’s gross negligence, willful misconduct or breach of federal securities laws in connection with the Services
provided hereunder unless (i) a court with appropriate jurisdiction shall have determined by a final judgment which is not subject to appeal that such Investment Advisor Indemnified Party is liable in respect of the demands, charges and claims
referred to in this paragraph or (ii) the Investment Advisor Indemnified Party shall have settled such demands, charges or claims without Sub-Advisor’s consent. 

10. Miscellaneous. 
  

	 	(a)	 Entire Agreement. This Agreement supersedes any and all other agreements, either oral or written,
between the Parties hereto with respect to the subject matter hereof and contains all of the covenants and agreements between the Parties with respect thereto. The Sub-Advisor and the Investment Advisor hereby
agree that the terms of this Agreement shall remain effective regardless of the existence of any entireties clause, or similar clause, in any other contract or agreement between the Parties, whether now existing or later arising, except to the
extent the provisions of this Agreement are waived through specific reference to this Agreement therein. 

  

	 	(b)	 Modification. No change or modification of this Agreement shall be valid or binding upon the Parties
hereto, nor shall any waiver of any term or condition in the future be so binding, unless such change, modification or waiver shall be in writing and signed by the Parties hereto. 

 

	 	(c)	 GOVERNING LAW. THE INTERPRETATION AND ENFORCEMENT OF THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AS MAY BE APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED ENTIRELY IN THE STATE OF NEW YORK, WITHOUT REGARD TO CHOICE OF LAW PROVISIONS. 

 

	 	(d)	 Arbitration. The Sub-Advisor and the Investment Advisor agree to
settle by binding arbitration any dispute or controversy between the Sub-Advisor and the Investment Advisor and/or any of the Investment Advisor’s officers, employees, directors, or agents which in any
way arises out of or relates to this Agreement or the Services. Such arbitration shall be conducted in New York, New York by the American Arbitration Association under the Commercial Arbitration rules then in effect. Either the Sub-Advisor or the Investment Advisor may initiate arbitration by serving or mailing a written notice to the other Party. Any award entered by the arbitrator(s) shall be final and judgment thereon may be entered in
any court having jurisdiction. The prevailing Party shall be entitled to recovery of costs, fees (including attorneys’ fees), and/or taxes paid or incurred in obtaining the award. Furthermore, any costs, fees, or taxes involved in enforcing the
award shall be fully assessed against and paid by the Party resisting enforcement of the award. 

  
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	 	(e)	 Assignment. The Sub-Advisor shall not assign this Agreement or
any of its rights or obligations hereunder without the consent of the Investment Advisor. 

  

	 	(f)	 Binding Effect. This Agreement shall be binding upon the Parties hereto, together with their respective
executors, administrators, successors, personal representatives, heirs, and permitted assigns.  

  

	 	(g)	 Waiver of Breach. A waiver by either Party of a breach of any provision of this Agreement by the other
Party shall not operate or be construed as a waiver of any other breach.  

  

	 	(h)	 Notice. All notices and other communications given pursuant to this Agreement shall be in writing and
shall be (i) mailed by first class mail, postage prepaid, registered or certified with return receipt requested, such notice to be effective upon the expiration of three (3) business days after deposit, or (ii) delivered by courier or
in person to the intended addressee, such notice to be effective upon delivery. For the purposes of notice, the addresses of the Parties shall be as set forth below. Each Party may change its address for notice hereunder to any other address by
giving at least thirty (30) days’ prior written notice of such change in the manner provided for in this Section 10(h). 

  

			
	 Sub-Advisor:
	  	 Axar Capital Management LP
 1330 Avenue of the
Americas, 30th Floor
 New York, NY 10019

Attn: Ricardo Mosquera

		
	 The Investment Advisor:
	  	 StoneMor Inc.
 3600 Horizon Boulevard, Suite
100
 Trevose, PA 19053
 Attn: General Counsel

  

	 	(i)	 Severability. This Agreement is intended to be performed in accordance with, and only to the extent
permitted by, all applicable laws, ordinances, rules, and regulations. If any provision of this Agreement, or any application thereof to any person or circumstance, shall, for any reason and to any extent, be invalid or unenforceable, and the extent
of the invalidity or unenforceability does not destroy the basis of the bargain between the Parties as contained herein, the remainder of this Agreement and/or the application of such provision to other persons or circumstances shall not be affected
thereby, but rather shall be enforced to the fullest extent permitted by law. 

  

	 	(j)	 No Third-Party Beneficiaries. Except with respect to Sub-Advisor
Indemnified Parties and Investment Advisor Indemnified Parties, this Agreement is not intended to and shall not convey any rights to persons who are not a Party to this Agreement. 

 

	 	(k)	 Non-Exclusivity. The
Sub-Advisor’s Services to the Investment Advisor under this Agreement are not being provided on an exclusive basis. It is acknowledged by the Investment Advisor that the
Sub-Advisor, its affiliates and any of their respective directors, partners, managers, members, officers and employees (collectively, the “Affiliated Persons”) perform investment advisory
services for Other Accounts. The Investment Advisor agrees that the Sub-Advisor may give recommendations and take action with respect to any of its or their Other Accounts which may differ from, or be contrary
to, recommendations given or the timing or nature of action taken with respect to the Investment Assets and the Sub-Advisor shall not be obligated to give the Investment Assets treatment that is more favorable
than or preferential to that provided to Other Accounts. It is understood that the Sub-Advisor shall not have any obligation to purchase or sell, or to recommend for purchase or sale, any security which the Sub-Advisor 

  
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or any Affiliated Person may purchase or sell for its or their own accounts or for the account of any Other Account and nothing contained herein shall limit or otherwise restrict the Sub-Advisor or any Affiliated Person from purchasing, selling or trading securities for its or their own account in a manner consistent with federal securities laws. 

[signature page follows] 

  
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 IN WITNESS WHEREOF, the Parties hereto have executed this Agreement effective
as of February 1, 2021. 
  

					
	INVESTMENT ADVISOR	 	By:	  	 /s/ Austin K. So

		 	Printed Name:	  	Austin K. So
		 	Title:	  	President and Chief Compliance Officer

  

					
	SUBADVISOR:	 	By:	  	 /s/ Andrew M. Axelrod

		 	Printed Name:	  	Andrew Axelrod
		 	Title:	  	Authorized Signatory

  

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 EXHIBIT “A” TO SUBADVISOR AGREEMENT – SERVICES 

Generally, the Sub-Advisor will provide the following services: 

 

	 	•	 Advise the Investment Advisor and, at the reasonable request of Investment Advisor, Regions with respect to the
allocation of the Investment Assets on a non-discretionary basis using the Sub-Advisor’s personnel, including providing advice concerning portfolio allocation among
strategies; 

  

	 	•	 Oversee, on a day to day basis, any subcontractors or external managers engaged by Investment Advisor to
provide advice with respect to the Investment Assets, including, currently, Goldman Sachs & Co. LLC (“GS”) and Cambridge Associates LLC, and oversee the transition of the custody of the fixed-income portfolio from GS to the
Bank of New York Mellon as custodian; 

  

	 	•	 Provide quarterly investment performance reports and analytics to the Trust Committee (as defined herein);

  

	 	•	 Meet with the Trust Committee on a quarterly basis to discuss performance and portfolio allocation strategy;

  

	 	•	 Provide the Trust Committee with monthly updates (which may be by email) concerning investment performance of
the Investment Assets; 

  

	 	•	 As requested by the Investment Adviser from time to time, perform those tasks and responsibilities delegated by
the Trust Committee to the Investment Adviser, as identified in the StoneMor Trust Committee Investment Policy Statement, as it may be amended from time to time upon written notice to the Sub-Advisor; provided
that no amendment shall increase the tasks and responsibilities required of the Sub-Advisor without the consent of the Sub-Advisor; and 

 

	 	•	 As requested by the Investment Adviser, assist the Investment Advisor in fulfilling its obligations under the
Investment Advisory Agreement by providing general back office and administrative support with Sub-Advisor personnel to the Investment Advisor and/or, at Investment Advisor’s reasonable request, to
Regions directly. 

  
 A-1EX-10.1

 Exhibit 10.1 
  

 
 

 
 2021 INCENTIVE PAYMENT PLAN 

As Approved:         

January 28, 2021 

 THE COOPER COMPANIES, INC. 

2021 Incentive Payment Plan 

SECTION I - NAME 
 The name of this plan
is the “2021 Incentive Payment Plan” (the “Plan” or “IPP”). This Plan implements and is part of The Cooper Companies 2017 Executive Incentive Program (the “EIP”). 

SECTION II - SCOPE 
 This Plan sets out
the IPP guidelines for the following Business Units of The Cooper Companies, Inc. and its subsidiaries (the “Company” or “TCC”): 

CooperVision (“CVI”) Consolidated 

CooperSurgical (“CSI”) Consolidated 

Corporate HQ 
 Where the terms of this Plan
differ from the terms of any Participant’s employment or severance contract, the terms of such contract will dictate. No new such arrangements shall be entered into without the advance written approval of the Chief Executive Officer
(“CEO”) and the Organization and Compensation Committee of the Board of Directors (the “Committee”). 
 Capitalized terms used but not
otherwise defined herein shall have the meaning set forth in the EIP. To the extent the terms of this Plan conflict with the EIP, the terms of the EIP shall govern. 

SECTION III - PURPOSE 
 The purpose of the
Plan is to provide incentives to officers and key employees of the Company who are in a position to contribute significantly to increasing revenue and profitability, as defined in the Plan. The Plan also includes a discretionary pool to allow for a
subjective evaluation of each Business Unit’s and/or Participant’s performance and for awards for achievement not otherwise adequately reflected in the quantitative awards. 

SECTION IV - COMPENSATION PHILOSOPHY 
 It
is the Company’s philosophy that: 
  

	 	•	 	 The Company’s executive compensation programs are designed to attract, motivate and retain executive talent
with the skills, experience, motivation and commitment needed to optimize stockholder value in a competitive environment. 

  

	 	•	 	 The Company believes that employee performance and achievement will result in economic benefits and support the
goal of increasing stockholder value in the Company by achieving specific financial and strategic objectives. 

  

	 	•	 	 Employees whose efforts achieve the goals outlined in Section III - Purpose be provided with the opportunity to
significantly increase their total compensation, via this Plan and certain other benefit plans. 

  
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 SECTION V - DEFINITIONS 

“Budget” or “Budgeted,” when used in conjunction with any measuring device under this Plan shall mean the approved 2021 Budget for each
Participant’s Business Unit, adjusted where appropriate to reflect acquisitions and/or divestitures in accordance with “deal sheets” approved by, and in the sole discretion of, the Board of Directors. 

“Business Unit” shall mean any operating or headquarters unit so established by the Company. For the 2021 Plan, the designated Business Units are
set out in Section II - Scope, above. 
 “Covered Employee” shall mean each executive of the Company, CVI or CSI that could, as determined by the
Committee, be a “covered employee” as defined in Section 162(m) of the Code for such Year. 

“Non-GAAP Earnings Per Share” or “Non-GAAP EPS” shall mean
fully diluted earnings per share as reported on a non-GAAP basis to Wall Street per the Company’s fiscal year end earnings release, but adjusted for the use of Budgeted currency rates. 

“Eligible Individual” shall mean any person employed by the Company who is paid a salary or a fixed monthly amount, as distinguished from an hourly
wage. 
 “Executive Management” shall mean the CEO and the CFO for purposes of administering this Plan. 

“Executive Team” shall mean (i) certain senior executives, including members of management covered by Rule 16(b) under the Securities and
Exchange Act of 1934, as designated by the Committee as the key executive management of the Company, CVI and CSI and (ii) each Covered Employee. 

“Income” or “Operating Income” or “OI” shall mean the operating income for each individual Business Unit as determined on a non-GAAP basis and used in the calculation of Non-GAAP Earnings Per Share for the Company’s fiscal year end adjusted for the use of Budgeted currency rates. 

“Participant” shall mean any Eligible Individual selected to have the opportunity to earn an award under the Plan in accordance with its terms. 

“Revenue” shall mean net revenue as reported to Wall Street per the Company’s fiscal year end earnings release, but adjusted for the use of
Budgeted currency rates. 
 “Salary” shall mean the actual base salary paid to an Eligible Individual during the Year while a Participant in the
Plan. No items of supplemental compensation (prior year bonus, relocation, automobile allowances, special stipends, etc.) will be considered part of Salary. 

“Threshold Goal” shall mean achievement of at least 50% of target for any one of Revenue, Income, or Earnings Per Share. 

“Target Award” shall mean a percentage of the Participant’s Salary between 10% and 100% as established each Year by the Committee, or with
respect to Participants who are not members of the Executive Team, as designated by the Executive Management. 
 “Year” shall mean the fiscal year
of the Company, which is November 1 through October 31. 

  
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 SECTION VI - ELIGIBILITY FOR PARTICIPATION 

Participation in the Plan will be offered to those Eligible Individuals who, in the opinion of the Company, are in a position to significantly influence the
Company’s Revenue and profitability. Eligibility for participation shall be at the sole discretion of the Committee, which may delegate this authority to Executive Management for non-Executive Team
reporting levels. 
 SECTION VII - THRESHOLD GOAL AND TARGET AWARD 

No incentives shall be payable under this Plan to a Covered Employee unless the Threshold Goal is obtained. If the Threshold Goal is obtained then each
Participant who is a Covered Employee will be eligible for an incentive equal to 200% of the Targeted Award, subject to downward adjustment as provided in Section VIII. No incentives shall be payable under this Plan in excess of the limits provided
under the EIP. 
 SECTION VIII - DETERMINATION OF INCENTIVE PAYMENT 

Each Participant’s actual incentive award opportunity will be based in part on the performance of the Business Unit of which Participant is a member and
in part based on a discretionary evaluation of his or her performance. In the event that any Participant, other than members of the Executive Team, works for more than one Business Unit over the course of the Year, Executive Management shall, in its
sole and absolute discretion, prorate IPP achievement based on the performance of each Business Unit for which Participant worked which prorated amounts then shall be aggregated; however, in no event shall any Participant receive a total IPP amount
greater than the maximum amount that would have been payable had Participant been employed solely by the Business Unit which receives the greatest IPP achievement. Achievement for members of the Executive Team who work for more than one Business
Unit over the course of the Year may also be prorated based on the performance of each Business Unit for which Participant worked which prorated amounts then shall be aggregated at the discretion of the Committee, based on recommendations by
Executive Management to the Committee. 
 The total award opportunity for Business Units will be the sum of applicable assigned percentage weightings for
Revenue, Income, and Non-GAAP EPS (together, “Quantitative Criteria”) and discretionary, as set out in Attachment I. At the discretion of Executive Management, the calculations for certain
individual Participants’ quantitative incentive awards may be prorated between a Business Unit and Corporate Headquarters. 
 Goals for earning an
award payment will be based on the percentage of Budget achievement generated for each of the Quantitative Criteria. Executive Management will provide the Committee a report on variances to the consolidated Budgets for Revenue, Income, and Non-GAAP EPS, highlighting key variances including non-recurring, non-controllable and/or discretionary items. The Committee may elect
to include or exclude certain of these items for purposes of determining the overall Corporate HQ quantitative Budget achievement. Executive Management may exercise this same discretion in assessing the Budget achievement of each of the
Company’s other Business Units. The amount of discretionary payments reflects the qualitative assessment of each individual Participant’s performance, by his or her supervisor, senior management and/or Executive Management. Executive
Management will consult with the 

  
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Committee before determining the overall level of achievement of each Business Unit’s discretionary criteria, the percentage achievements of which may vary from Participant to Participant.
The level of achievement of both the quantitative and discretionary components for each of the Executive Team shall be recommended by Executive Management to the Committee. The determination of the amounts of said components for each Executive Team
will be made by the Committee. 
 Each Quantitative Criteria will be measured separately for achievement of Budget. The matrix below indicates the level of
IPP achievement that coincides with a given Budget achievement. The IPP achievement of the discretionary portion may also range from 0% to a percentage deemed appropriate by Executive Management up to the 200% maximum, and in the case of the
Executive Team, determined by the Committee after receipt of recommendations from Executive Management. 
  

									
	 Revenue

(50% Weighting)
	 	 Non-GAAP
EPS/ Income
 (25% weighting)
	 	 IPP Achievement (1)(2)

	 Achievement
	 	 Payout
	 	 Achievement
	 	 Payout
	 	  

	 Less than 95%
	 	0%	 	Less than 90%	 	0%	 	0%
	 95%
	 	50%	 	90%	 	50%	 	50%
	 96%
	 	60%	 	92%	 	60%	 	60%
	 98%
	 	80%	 	96%	 	80%	 	80%
	 100%
	 	100%	 	100%	 	100%	 	100%
	 102%
	 	140%	 	104%	 	140%	 	140%
	 104%
	 	180%	 	108%	 	180%	 	180%
	 105% or more
	 	200% Maximum	 	110% or more	 	200% Maximum	 	200% Maximum

  

	(1)	 This is of the Target Award. Where needed, straight-line interpolation between levels will be applied.

	(2)	 The Committee in its discretion may reduce the bonus that otherwise would be payable based on satisfaction of
the foregoing quantitative goals to take into account such qualitative factors as it may determine; provided, however, the Committee may not reduce such bonus by more than 25%. 

SECTION IX - FORM OF PAYMENT 
 Payments
under this Plan may be made in the form of a combination of cash and common stock of the Company. The percentage mix of the payment will be at the sole discretion of the Board of Directors of the Company, subject to the limitation that the stock
portion of the payment will not exceed 50% of the total. Such determination will be made at the time the Board approves payments to be made under the Plan. Unless recommended otherwise by the Committee to the Board of Directors, any common stock
portion of the payment will be made in shares of restricted stock bearing a restriction of up to 30 days, at no cost to the Participant other than required payments for taxes. The Committee may elect to pay the CEO, for achievement above 75%, in
restricted stock or restricted stock units with up to three-year cliff vesting. 
 SECTION X - TIMING OF AWARD PAYMENTS 

Incentive award payments for each Participant will be made net of all required withholdings and will be calculated and accrued in the appropriate Business
Unit’s books from time to time during the Year based on projected results for Quantitative Criteria and a reasonable estimate of the discretionary percentage. 

  
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The indicated payment for Quantitative Criteria plus a reasonable estimate of discretionary must be accrued for as at the end of each quarter prorated for the estimated payment for the year. Such
accruals will be calculated based upon each Business Unit’s performance against Budget for the Year then ended as discussed above and illustrated in the attached examples. 

No payments will be made to any Participant until Executive Management has had an opportunity to review the results of the first month of the subsequent Year.
To the extent that such first months’ results reflect negative anomalies that are determined by Executive Management to relate back to the previous Year, award payments for such Year may be delayed by Executive Management and, subject to
approval by the Committee, may be decreased or canceled. The target date to release payments, therefore, will be on or before the end of the first fiscal quarter of the following year, subject to acceleration or delay by Executive Management, in its
sole and absolute discretion. No IPP payments will be made to a Covered Employee unless and until the Committee (as defined in the EIP) certifies in writing that the Threshold Goal has been obtained. 

SECTION XI - TERMINATION OF EMPLOYMENT 

Except where required pursuant to a previously existing employment agreement (or extenuating circumstances, which will be handled on an ad hoc basis by
Executive Management), any Participant whose employment is terminated by the Company prior to the end of the Year, or by the Participant prior to the payment for such Year for any reason other than death or retirement or disability consistent with
the Company’s then current provisions for retirement and/or disability, will forfeit any opportunity to receive an award under the Plan for that Year. 

In the case of a Participant’s retirement, disability or death, such Participant (or designated heir in the event of the Participant’s death) may,
at the discretion of Executive Management or with respect to the Executive Team the Committee, be eligible to receive a pro rata payment under the Plan for the period prior to cessation of active full-time employment. Pro rata payments will be made
concurrently with other payments under the Plan, and only to the extent that the Threshold Goal is obtained. 
 SECTION XII - NEW HIRES
AND PROMOTIONS 
 Individuals hired or promoted during the Year may become Participants in the Plan subject to the approval of Executive Management.
Partial Year Participants may be eligible to earn a pro rata award. Separate pro rata calculations will be made for any Participant who is not a Covered Employee and who is promoted to a higher incentive opportunity during the Year. 

SECTION XIII - GENERAL PROVISIONS 
  

	(1)	 The expenses of administering the Plan shall be borne by the Company. 

 

	(2)	 No employee has any right or claim to be a Participant in the Plan or to receive a payment under the Plan.

  

	(3)	 Participation in the Plan does not provide any employee the right to be retained in the employment of the
Company. 

  

	(5)	 A Participant may not assign or transfer any rights under the Plan. Any attempt to do so will invalidate those
rights. 

  

	(6)	 The Plan shall be subject to all applicable federal and state laws and regulations. Payments made under the
Plan shall only be made to the extent permitted by such laws and regulations, subject to all applicable taxes. 

  
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 SECTION XIV - AMENDMENT OR TERMINATION 

The Plan may be amended or terminated at any time by action of the Board of Directors of the Company. 

SECTION XV - ADMINISTRATION AND INTERPRETATION 

Executive Management shall be responsible, in its sole discretion, for administration of the Plan, and the Committee shall be responsible for interpretation
of this Plan. Such interpretations shall be final. 
 Attachments: 
  

	 	I	 Weighting Factors 

	 	II	 List of Participants and Levels of Participation 

 

	Budgets:	 2021 Budgets – Previously provided in the 2021 Budget Presentation approved by the BOD

  
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 ATTACHMENT I 

WEIGHTING FACTORS 

—— Weighting Percentages of IPP Entitlement Factors —— 

 

													
	 	  	Revenue	  	Income	  	EPS	  	Quantitative	  	Discretionary	  	Total
	 CVI
	  	50	  	25	  	—  	  	75	  	25	  	100
	 CSI
	  	50	  	25	  	—  	  	75	  	25	  	100
	 Corporate HQ
	  	50	  	—  	  	25	  	75	  	25	  	100

  
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 ATTACHMENT II 

LIST OF PARTICIPANTS AND LEVELS OF PARTICIPATION 

Executive Team: 
  

					
	 NAME
	  	 TITLE
	  	 FY 2021 IPP

ELIGIBILITY %

	Albert G. White, III	  	President and Chief Executive Officer	  	125%
			
	Daniel G. McBride, Esq.	  	 Executive Vice President and Chief Operating Officer of TCC;

President of CooperVision, Inc.
	  	80%
			
	Holly R. Sheffield	  	President of CooperSurgical, Inc.	  	70%
			
	Brian G. Andrews	  	Executive Vice President, Chief Financial Officer & Treasurer	  	70%
			
	Agostino Ricupati	  	Senior Vice President – Finance & Tax; Chief Accounting Officer	  	55%
			
	Mark J. Drury	  	Vice President, General Counsel & Secretary	  	45%

 D. McBride achievement will be based on CooperVision, Inc. financial results and metrics. 

H. Sheffield achievement will be based on CooperSurgical, Inc. financial results and metrics. 

Other Participants: 
 Employees meeting the eligibility
criteria for participation under the 2021 IPP shall be determined by Executive Management. 

  
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