Document:

ex10-1.htm

  

 

SEARCH BY HEADLINES.COM CORP.

 

THIRD ADDENDUM TO LOAN AGREEMENT

 

 

Further to that certain Loan Agreement dated January 16, 2012 (the “Loan Agreement”) between Search By Headlines.com Corp. (the “Lender”) and Naked Boxer Brief Clothing Inc. (the “Borrower”), the Lender and the Borrower agree, for good and valuable consideration, the receipt of which is acknowledged by each party, to, in accordance with Section 2.2 of the Loan Agreement, increase the principal amount of the Loan (as defined in the Loan Agreement) by $50,000 (the “Fourth Advance”) to a total of $275,000, of which $225,000 has previously been provided by the Lender to the Borrower, and an additional $50,000 will be provided by the Lender to the Borrower upon the execution of this Addendum.

 

The Lender and the Borrower agree that this Addendum forms a part of and is subject to the terms and conditions set out in the Loan Agreement and that the Fourth Advance forms part of the Loan and the Borrower’s Indebtedness (as those terms are defined in the Loan Agreement).  The Lender and the Borrower agree that the Loan Agreement and the General Security Agreement dated January 16, 2012 of the Borrower in favour of the Lender each remain in full force and effect and all of the terms and conditions in the Loan Agreement remain the same, except to the extent expressly amended by this Addendum.

 

This Addendum will be governed by and construed in accordance with the laws of the Province of British Columbia and any federal laws of Canada applicable therein, and the Borrower and the Lender hereby attorn to the jurisdiction of the courts of competent jurisdiction of the Province of British Columbia in any proceeding hereunder.

 

This Addendum may be signed by the parties in counterparts and delivered by facsimile transmission or other form of electronic communication capable of producing a printed copy.

 

This Addendum is effective as of the 7th day of May, 2012.

	
SEARCH BY HEADLINES.COM CORP.

 

 

Per: /s/ James P. Geiskopf                                                                            

      Authorized Signatory

	  	  
	  	  	  
	
NAKED BOXER BRIEF CLOTHING INC.

 

 

Per: /s/ Joel Primus                                                                 

      Authorized SignatoryCHTR 3.31.2012 EX - 10.1

Final 4/10/12

Executive Bonus Plan

OVERVIEW   

The Executive Bonus Plan (“Plan”) of Charter Communications, Inc. (the “Company”) is an annual plan that provides eligible employees an incentive to align goals and performance with the Company's strategic objectives.  As with all compensation plans, this Plan is created based on the Company's current business position, and may be examined and changed in accordance with any changes in business position.

OBJECTIVE

Provide a strong corporate identity and provide awards commensurate with the achievement of aggressive financial performance measures and customer satisfaction goals.

Foster teamwork throughout the company, operating groups, KMAs, systems and functional areas.

Evaluate effort and contribution based on a combination of specific objectives and performance that correlate with the Company's long-term business plan and compensation strategy.

ELIGIBILITY

Executive Officers of the Company and certain other managerial and professional employees of the Company and its subsidiaries are eligible to participate in the Company's Executive Bonus Plan.  Eligibility for participation in the Plan is based on the employee's position level and salary grade in the organization.  A bonus target (i.e., percentage of base pay) will be assigned annually to strategic positions in the Company based on market competitiveness as well as overall impact.  Actual bonus eligibility is determined by Senior Management. 

AWARDS

Senior Management will develop annual performance measures under the Plan, including establishing target awards, provided that up to 20% of any target award or actual award under the Plan may or may not be paid to any participant in the Plan at the sole discretion of the Company's Chief Executive Officer or the Board's Compensation and Benefits Committee, regardless of the level of attainment of the annual performance measures.  The measures and awards will be subject to the approval of the Board of Directors, or the Board's Compensation and Benefits Committee.  Once approved, management will communicate the performance measures, target awards, including any portion of such awards which may be discretionary, and other details to employees who are eligible for bonuses.  All such measures, awards and other details shall be subject to the terms of the Plan.

1

ADMINISTRATION

All bonus payments made pursuant to this Plan are subject to the approval of the Board of Directors, or the Board's Compensation and Benefits Committee.  Bonuses for eligible employees for any plan year will be determined based on the extent to which the Company's (or, if applicable, an employee's particular operating group or key market area's) performance during that year meets or exceeds budgeted goals with respect to performance measures as set forth in the Bonus Plan, subject to the payment of any discretionary portion of the bonus.  It is the intention of the Company to pay bonuses pursuant to the Plan, no later than March 15th of the following year, but the payment date may vary based on management discretion.  

Unless otherwise provided by law, bonuses are not considered earned until paid.  If an individual's employment is terminated (either voluntarily or involuntarily) prior to the date on which any bonus is paid, payment of the bonus (in whole or in part) shall be at the sole and exclusive discretion of management; provided that, an individual shall be considered an active employee, eligible for the prior year's bonus, similar to other active employees in the Plan, if an individual has separated from the Company between December 31 and the date on which the bonus is paid due to position elimination, death, disability or retirement.  Any decision by management to pay any portion of the bonus to an individual whose employment has been terminated must be approved by the SVP of Human Resources and included as a provision in a separation agreement and full release executed by the individual.  Participants on a leave of absence when the bonuses are paid will receive their bonus upon returning to an active status.  

As with all compensation programs, this Plan or an individual's Target Award may be reviewed periodically and changed, supplemented or eliminated if deemed appropriate by the Company, within its discretion.  Employees are eligible for only one bonus plan and any variance to this limitation requires the approval of both Senior Management and the SVP - Human Resources.  Employees who are eligible to participate in a commission plan are not eligible for the Executive Bonus Plan. 

This document is only intended to describe the terms of the bonus structure, and no employee should interpret it as an employment contract or a contract of any other kind.

2exhibit10b.htm

EXHIBIT 10(b)

 

 

 

PROGRESS ENERGY, INC.

 

Board of Directors Meeting – March 14, 2012

 

AMENDMENT OF THE

 

SUPPLEMENTAL SENIOR EXECUTIVE RETIREMENT PLAN

 

Mr. Johnson referred to the report of the Organization & Compensation Committee and its recommendation that the Company’s Supplemental Senior Executive Retirement Plan be amended:

 

WHEREAS, Progress Energy, Inc. (the “Company”) sponsors the Supplemental Senior Executive Retirement Plan of Progress Energy, Inc., as amended and restated effective January 1, 2009 (the “Plan”); and

WHEREAS, the Plan was amended effective as of January 1, 2009, to revise several definitions relating to the benefits provided to certain Plan participants (the “2009 Amendments”); and

WHEREAS, the 2009 Amendments, by their terms, did not apply to individuals who became Plan participants prior to January 1, 2009; and

WHEREAS, the 2009 Amendments were not intended to apply to individuals who were members of the Senior Management Committee on December 31, 2008, regardless of whether such individuals became Plan participants prior to January 1, 2009;

WHEREUPON, after discussion and upon motion duly made and seconded, it was unanimously:

RESOLVED, that the Plan is amended in the following respects, effective as of January 1, 2009:

FIRST:  The second sentence of the Plan’s definition of the term “Target Early Retirement Benefit” is amended to read as follows:

Notwithstanding the foregoing, with respect to a Participant who first entered the Plan as a Participant prior to January 1, 2009, or an individual who was a member of the Senior Management Committee on December 31, 2008, and who first enters the Plan as a Participant on or after January 1, 2009, the Target Early Retirement Benefit shall be determined by multiplying the Participant’s Final Average Salary by four percent (4%) for each projected year of Service at his Normal Retirement Date up to a maximum of sixty-two percent (62%).

SECOND:  The second sentence of the Plan’s definition of the term “Target Normal Retirement Benefit” is amended to read as follows:

  

  

  

 

Notwithstanding the foregoing, with respect to a Participant who first entered the Plan as a Participant prior to January 1, 2009, or an individual who was a member of the Senior Management Committee on December 31, 2008, and who first enters the Plan as a Participant on or after January 1, 2009, the Target Normal Retirement Benefit shall be determined by multiplying the Participant’s Final Average Salary by four percent (4%) for each projected year of Service at his Normal Retirement Date up to a maximum of sixty-two percent (62%).

THIRD:  The second sentence of the Plan’s definition of the term “Target Pre-Retirement Death Benefit” is amended to read as follows:

Notwithstanding the foregoing, with respect to a Participant who first entered the Plan as a Participant prior to January 1, 2009, or an individual who was a member of the Senior Management Committee on December 31, 2008, and who first enters the Plan as a Participant on or after January 1, 2009, the Target Pre-Retirement Death Benefit shall be determined by multiplying the Participant’s Final Average Salary by four percent (4%) for each year of Service at his death up to a maximum of sixty-two percent (62%).

FOURTH:  The second sentence of the Plan’s definition of the term “Target Severance Benefit” is amended to read as follows:

Notwithstanding the foregoing, with respect to a Participant who first entered the Plan as a Participant prior to January 1, 2009, or an individual who was a member of the Senior Management Committee on December 31, 2008, and who first enters the Plan as a Participant on or after January 1, 2009, the Target Severance Benefit shall be determined by multiplying the Participant’s Final Average Salary by four percent (4%) for each year of Service at his Separation from Service up to a maximum of sixty-two percent (62%).

 

RESOLVED, that the appropriate officers of the Company are hereby authorized and directed to take such actions and to execute such documents as may be necessary or desirable to implement the foregoing resolution, all without the necessity of further action by this Board.

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