Document:

Prepared by R.R. Donnelley Financial -- EX-10.14

 Exhibit 10.14 
  

 
 EMPLOYMENT OFFER 

November 16, 2012 
 Edward Sinclair 

[address] 
 RE: Offer of Employment 

Dear Edward: 
 I am pleased to offer you a position with Asante
Solutions, Inc. (the “Company”) Vice President of Regulatory & Quality reporting to David Thrower, President and Chief Executive Officer, effective November 26, 2012. You will be paid an annual salary of $235,000, which will
be paid bi-monthly in accordance with the Company’s normal payroll procedures. As an employee, you will also be eligible to receive certain benefits, as detailed below. You should note that the Company may modify any salary, benefit, reporting
structure or bonus as it deems necessary to support its business needs. 
 At-Will Employment 

The Company is excited about your acceptance of this new role and looks forward to working with you on meeting our business objectives. Nevertheless, you
should be aware that your employment with the Company is for no specified term and constitutes “at-will” employment. This means that your employment can be terminated by you or by the Company at any time, with or without advance notice,
and for any or no particular reason or cause. It also means that your job duties, title, responsibilities, reporting level, compensation and benefits, location of your employment, as well as the Company’s personnel policies and procedures, may
be changed with or without notice at any time in the sole discretion of the Company. The at-will nature of your employment relationship shall remain unchanged during your tenure as an employee, and may only be changed by the expressed written
agreement that is signed by you and by the Company’s Chief Executive Officer. We request that, in the event of resignation, you give the Company at least two weeks notice. 

Probation 
 It is understood that the first 90
(ninety) days of employment shall be probationary only and that if the Employee’s services arc not satisfactory to the Company, employment shall be terminated at the end of this probationary period provided the employment relationship is not
terminated earlier by either you or the Company pursuant to the at-will nature of your employment. 

  
 Initials /s/ ES

 Edward Sinclair 

November 16, 2012 
  Page
 2
 
  

 Equity and Stock Options 

If you decide to join us, it will be recommended at the first meeting of the Compensation Committee (the “Committee”) of the Company’s Board of
Directors following your start date that the Company grant you an option to purchase 375,000 of the Company’s Common Stock at a price per share equal to the fair market value per share of the Common Stock on the date of grant, as determined by
the Board of Directors and will be subject to the terms and conditions which include but are not limited to, vesting and prerequisites for exercising the options. Twenty-five percent (25%) of the Shares subject to the option shall vest twelve
(12) months after the date your vesting begins, no shares shall vest before such date, and no rights to any vesting shall be earned or accrued prior to such date. The remaining shares shall vest monthly over the next 36 months in equal monthly
amounts, subject to your continuing eligibility. This option grant shall be subject to the terms and conditions of the Company’s Stock Option Plan and Stock Option Agreement, including vesting requirements. 

Benefits 
 You are eligible to participate in
Company benefit programs that the Company provides to its full-time regular employees, subject to the availability and terms and conditions of such benefits and benefit plans. During the first year of service, you will be eligible to accrue 15 days
of vacation, in accordance with the Company’s vacation policy set forth in the Employee Handbook. Please review the Company’s vacation policy carefully for more information regarding vacation accrual and usage, including accrual rates for
subsequent years of service. 
 Discretionary Bonus 

In addition to your salary, stock options, and benefits, the Company may decide to award you an annual bonus. The Company maintains full and absolute
discretion over the decision to award any bonus, and the amount of any bonus, based upon various factors that include, but are not limited to, your performance and the Company’s performance. To the extent the Company decides to award you a
bonus, such bonus will be paid to you no later than two and one-half (2 1⁄2) months following the end of the calendar year in which such bonus was earned.

 Conditions 
 The terms provided by this
Employment Offer, and any employment resulting therefrom, are conditioned upon your full satisfaction of each of the following: 
  

	 	•	 	You must return this Employment Offer, signed and initialed by you without modification, to me no later than November 20, 2012, after which time this offer will expire. 

 

	 	•	 	 You must disclose to the Company any and all agreements relating to your prior employment that may affect your eligibility to be employed by the
Company or limit the manner in which you may be employed. It is the Company’s understanding that any such 

  
 Initials /s/ ES

 Edward Sinclair 

November 16, 2012 
  Page
 3
 
  

	 	 
agreements will not prevent you from performing the duties of your position and you represent that such is the case. Moreover, you agree that, during the term of your employment with the Company,
you will not engage in any other employment, occupation, consulting, or other business activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any
other activities that conflict with your obligations to the Company. Similarly, you agree not to bring any third-party confidential information to the Company, including that of any former employer, and that you will not in any way utilize any such
information in performing your duties for the Company. By signing and accepting this offer, you represent and warrant that: (i) you are not subject to any pre-existing contractual or other legal obligation with any person, company or business
enterprise which may be an impediment to, or a con diet of interest with, your employment with the Company, or your providing services to the Company as its employee; (ii) you do not have and shall not bring onto the Company’s premises, or
use in the course of your employment with the Company, any confidential or proprietary information of another person, company or business enterprise to whom you previously provided services; and (iii) you will not, at any time during your
employment with the Company, breach any obligation or agreement that you have entered into with any third party, including your former employers. 

  

	 	•	 	You must sign and return, prior to your start date, the enclosed At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement (Attachment A), indicating your full agreement
to, and ongoing compliance with, the terms of that agreement, which include, among other provisions, the assignment of patent rights to any invention made during your employment at the Company, and nondisclosure of the Company’s proprietary
information. In the event of any dispute or claim relating to or arising out of our employment relationship, you and the Company agree to an arbitration in which (i) you are waiving any and all rights to a jury trial but all court remedies will
be available in arbitration, (ii) we agree that all disputes between you and the Company shall be fully and finally resolved by binding arbitration, (iii) all disputes shall be resolved by a neutral arbitrator who shall issue a written
opinion, (iv) the arbitration shall provide for adequate discovery, and (v) the Company shall pay all the arbitration fees, except an amount equal to the filing fees you would have paid had you filed a complaint in a court of law.

  

	 	•	 	 For purposes of federal immigration laws (including the Immigration Reform and Control Act), you must provide the Company with documentary evidence of
your identity and eligibility for employment in the United States (your “Right to Work” documentation). Our employment relationship with you may terminate if Right to Work documentation is not be provided to the Company within three
(3) business days of your hire date. By signing below, you acknowledge and agree to maintain any Right to Work documentation, and acknowledge and agree to provide such documentation to the Company as necessary. You, and not the Company, are
responsible for any costs 

  
 Initials /s/ ES

 Edward Sinclair 

November 16, 2012 
  Page
 4
 
  

	 	 
associated with the renewal or replacement of any Right to Work document, including, but not limited to, work visas. 

 

	 	•	 	The Company reserves the right to conduct background investigations and/or reference checks on all of its potential employees. This Employment Offer, therefore, is contingent upon a clearance of such a background
investigation and/or reference check, if any. 

  

	 	•	 	The Company reserves the right to screen all of its potential employees for illicit drug use. This Employment Offer, therefore, is contingent upon a completion and clearance of any requested pre-employment drug
screening. 

  

	 	•	 	As a Company employee, you will be expected to abide by Company rules and standards. You will be specifically required to sign an acknowledgment that you have read and that you understand the Company’s rules of
conduct. 

 Choice of Law 
 This
Agreement shall be interpreted and enforced in accordance with the laws of the State of California, without regard to conflict of laws or provisions thereof. This agreement submits all disputes arising hereunder to the exclusive jurisdiction and
venue of the federal and state courts located in the county in which Company operations are located, currently Santa Clara County, California. 
 This
agreement, and the rights and obligations of the parties thereto, shall be binding upon and inure to the benefit of the parties and their respective heirs, successors and assigns. 

Entire Agreement 
 If you accept this Employment
Offer and satisfy its conditions, then this Employment Offer and the written agreements referenced herein shall constitute the complete agreement between you and the Company with respect to the terms and conditions of your employment. This
Employment Offer expressly cancels and supersedes any representations, whether written or oral, not contained or expressly referenced in writing herein. Except as otherwise specified in this Employment Offer, the terms and conditions of your
employment may not be changed, except by a writing signed by the Company’s Chief Executive Officer. 
 We look forward to your acceptance of
this Employment Offer and mutually rewarding relationship. If you accept this offer, please date and sign below and return this Employment Offer to me no later than November 20, 2012. Please retain a copy of this Employment Offer for
your records. 

  
 Initials /s/ ES

 Edward Sinclair 

November 16, 2012 
  Page
 5
 
  

 If you have any questions regarding this Employment Offer, please feel free to contact me. 

Sincerely, 
 /s/ David Thrower 

David Thrower 
 Chief Executive Officer 

Asante Solutions, Inc. 

  
 Initials /s/ ES

 Edward Sinclair 

November 16, 2012 
  Page
 6
 
  

 Acknowledgment and Acceptance of Employment Offer 

I accept employment with Asante Solutions, Inc. and acknowledge and fully agree to the terms and conditions set forth in this Employment Offer: 

 

									
	Dated:	 	11/16/12	 		 		 	/s/ Edward Sinclair
		 		 		 		 	EDWARD SINCLAIR

  
 Initials /s/ ESExhibit 10.1

 

EXECUTION VERSION

 

	
 
    	
December 15, 2014
    

 

Hillenbrand, Inc.
 One Batesville Boulevard
 Batesville, IN  47006

 

Re:                             Amendment No. 1 to Private Shelf Agreement

 

Ladies and Gentlemen:

 

Reference is made to the Private Shelf Agreement, dated as of December 6, 2012 (the “Note Agreement”), by and among Hillenbrand, Inc., an Indiana corporation (the “Company”), Prudential Investment Management, Inc. (“Prudential”) and each Prudential Affiliate (as therein defined) that has become or becomes bound thereby.  Capitalized terms used herein that are not otherwise defined herein shall have the meaning specified in the Note Agreement.

 

The Company has requested that the Required Holders agree to amend the Note Agreement, as more particularly described below.  Subject to the terms and conditions hereof, the Required Holders are willing to agree to such request.

 

Accordingly, in accordance with the provisions of Section 18.1 of the Note Agreement, and in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

SECTION 1.                         Amendments to the Note Agreement.  Effective upon the Effective Date (as defined below):

 

1.1                               The definition of “Implied Rate Dollar Yield” contained in Section 8.7 of the Note Agreement is amended by inserting “ask-side” immediately prior to the reference to “yields” contained in clause (i) thereof.

 

1.2                               Section 9 of the Note Agreement is amended by inserting the following new Section 9.9 at the end thereof:

 

Section 9.9.                                Maintenance of Ratings.  At any time when any of the Company’s senior unsecured indebtedness, or, if no rating exists with respect to the Company’s senior unsecured indebtedness, the Company, has a Below Investment Grade Rating, the Company shall cause at least three nationally

 

 

recognized rating agencies (which shall be Moody’s, S&P, Fitch or such other nationally recognized rating agency as is reasonably satisfactory to the Required Holders) to maintain a public rating of the Company’s senior unsecured indebtedness, or, if no rating exists with respect to the Company’s senior unsecured indebtedness, the Company.  For the avoidance of doubt, the Company shall not be required to cause or maintain any ratings if there is no Below Investment Grade Rating on any of the Company’s senior unsecured indebtedness, or, if no rating exists with respect to the Company’s senior unsecured indebtedness, on the Company.

 

1.3                               Section 19 of the Note Agreement is amended by inserting the following sentence at the end of the first paragraph contained therein:

 

In the case of holders of Notes which have the same address for delivery of notices and other communications, the Company shall not be required to deliver more than one copy of any notice or other communication to such holders.

 

1.4                               Schedule B to the Note Agreement is amended by inserting the following new definition in the appropriate alphabetical order:

 

“Below Investment Grade Rating” in respect of any Person means, at any time of determination, there exists an Active Rating of less than: (i) “BBB-” by Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, or any successor thereof (“S&P”), (ii) “BBB-” by Fitch Ratings, Ltd., or any successor thereof (“Fitch”), (iii) “Baa3” by Moody’s Investors Service, Inc., or any successor thereof (“Moody’s”) or (iv) an equivalent Solicited rating by any other nationally recognized statistical rating agency.  For purposes of this definition, (1) “Active Rating” means any rating other than a rating that both (a) has not been determined or refreshed by the applicable statistical rating agency within the last 12 months and (b) the Company has formally requested that the applicable statistical rating agency terminate such rating; and (2) “Solicited” means any rating that has been requested by or paid for by the Company.

 

SECTION 2.                         Representations and Warranties.  The Company represents and warrants that (a) the execution and delivery of this letter has been duly authorized by all requisite corporate action on behalf of the Company, this letter has been duly executed and delivered by an authorized officer of the Company, and the Company has obtained all authorizations, consents, and approvals necessary for the execution, delivery and performance of this letter and such authorizations, consents and approvals are in full force and effect, (b) each representation and warranty set forth in Section 5 of the Note Agreement and the other Transaction Documents is true and correct in all material respects as of the date of execution and delivery of this letter by the Company with the same effect as if made on such date (except to the extent such representations and warranties expressly refer to an earlier date, in which case they were true and correct in all material respects as of such earlier date) and (c) after giving effect to the amendments in Section 1, no Event of Default or Default exists.

 

2

 

SECTION 3.                         Conditions to Effectiveness.  The amendments described in Section 1 above shall become effective on the date (the “Effective Date”) when each of the following conditions has been satisfied:

 

3.1                               Documents.  Each holder of a Note shall have received original counterparts or, if reasonably satisfactory to the Required Holders, certified or other copies of all of the following, each duly executed and delivered by the party or parties thereto, in form and substance reasonably satisfactory to the Required Holders, dated the date hereof unless otherwise indicated, and on the date hereof in full force and effect:

 

(i)                                     counterparts of this letter executed by the Company and the Required Holders; and

 

(ii)                                  a favorable opinion of counsel(s) to the Company addressed to Prudential and each holder of a Note with respect to the Company, this letter agreement and the Note Agreement, as amended hereby.

 

3.2                               Proceedings.  All corporate and other proceedings taken or to be taken in connection with the transactions contemplated by this letter shall be reasonably satisfactory to Prudential, and Prudential shall have received all such counterpart originals or certified or other copies of such documents as it may reasonably request.

 

SECTION 4.                         Reference to and Effect on Note Agreement and Notes; Ratification of Transaction Documents.  Upon the effectiveness of the amendments in Section 1 of this letter, each reference to the Note Agreement in any other Transaction Document shall mean and be a reference to the Note Agreement, as modified by this letter.  Except as specifically set forth in Section 1 hereof, the Note Agreement, the Notes and each other Transaction Document shall remain in full force and effect and are hereby ratified and confirmed in all respects.  Except as specifically stated in this letter, the execution, delivery and effectiveness of this letter shall not (a) amend the Note Agreement, any Note or any other Transaction Document, (b) operate as a waiver of any right, power or remedy of Prudential or any holder of the Notes, or (c) constitute a waiver of, or consent to any departure from, any provision of the Note Agreement, any Note or any other Transaction Document at any time.  The execution, delivery and effectiveness of this letter shall not be construed as a course of dealing or other implication that Prudential or any holder of the Notes has agreed to or is prepared to grant any consents or agree to any amendment to the Note Agreement in the future, whether or not under similar circumstances.

 

SECTION 5.                         Expenses.  The Company hereby confirms its obligations under Section 16.1 of the Note Agreement in connection with the transactions hereby contemplated, whether or not such transactions are consummated.

 

SECTION 6.                         Governing Law.  THIS LETTER SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW 

 

3

 

YORK EXCLUDING CHOICE OF LAW PRINCIPLES OF THE LAW OF SUCH  STATE THAT WOULD PERMIT THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.

 

SECTION 7.        Counterparts; Section Titles.  This letter may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.  Delivery of an executed counterpart of a signature page to this letter by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart of this letter. The section titles contained in this letter are and shall be without substance, meaning or content of any kind whatsoever and are not a part of the agreement between the parties hereto.

 

[signature page follows]

 

4

 

	
 
    	
 
    	
Very truly yours,
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/S/   David Quackenbush
    
	
 
    	
 
    	
 
    	
Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
THE   GIBRALTAR LIFE INSURANCE CO., LTD.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
Prudential Investment Management Japan
    
	
 
    	
 
    	
 
    	
Co., Ltd. (as Investment Manager)
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
Prudential Investment Management, Inc.
    
	
 
    	
 
    	
 
    	
(as Sub-Adviser)
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/S/   David Quackenbush
    
	
 
    	
 
    	
 
    	
Vice   President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
PAR   U HARTFORD LIFE & ANNUITY COMFORT TRUST
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
Prudential Arizona Reinsurance   Universal
   Company (as Grantor)
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
Prudential Investment Management, Inc.
    
	
 
    	
 
    	
 
    	
(as Investment Manager)
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/S/   David Quackenbush
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
Vice   President
    

 

Amendment No. 1 to Private Shelf Agreement

 

 

 

	
 
    	
 
    	
THE LINCOLN NATIONAL LIFE   INSURANCE COMPANY
    
	
 
    	
 
    	
FARMERS   INSURANCE EXCHANGE
    
	
 
    	
 
    	
MID   CENTURY INSURANCE COMPANY
    
	
 
    	
 
    	
THE   INDEPENDENT ORDER OF FORESTERS
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
Prudential Private Placement Investors, L.P.
    
	
 
    	
 
    	
 
    	
(as Investment Advisor)
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
Prudential Private Placement Investors, Inc.
    
	
 
    	
 
    	
 
    	
(as its General Partner)
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/S/   David Quackenbush
    
	
 
    	
 
    	
 
    	
Vice   President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
The foregoing letter is
    	
 
    	
 
    
	
hereby accepted as of   the
    	
 
    	
 
    
	
date first above   written:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
HILLENBRAND, INC.
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/S/   Theodore S. Haddad, Jr.
    	
 
    	
 
    
	
Name:
    	
Theodore   S. Haddad, Jr.
    	
 
    	
 
    
	
Title:
    	
Vice   President and Treasurer
    	
 
    	
 
    

 

Amendment No. 1 to Private Shelf Agreement

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