Document:

Incentive Compensation Plan

 Exhibit 10.1 
  
 ADOLOR CORPORATION 
 INCENTIVE COMPENSATION PLAN 
  
 Purpose 

 
 This plan is designed to provide Adolor employees with an incentive to achieve the
Company’s annual corporate objectives. 
  
 Corporate Objectives

  
 Major objectives for each year will be established by the Board of
Directors. 
  
 Evaluation of Corporate Performance 
  
 The Compensation Committee will evaluate corporate performance against each objective as
follows: 
  

			
	 Description of Performance

	  	Performance Rating

	 Made some progress, but did not achieve objective
	  	0 to 94%
	 Achieved objective
	  	95% to 105%
	 Exceeded objective
	  	106% to 150%
	 Outstanding achievement
	  	151% to 200%

  
 Overall Corporate Rating and
Bonus Pool 
  
 A weighted corporate rating will be determined by
multiplying each goal’s weighting by each goal’s performance rating. 
  
 Determination of the Bonus Pool 
  
 The Compensation
Committee will determine the bonus pool. The bonus pool will be based upon the overall corporate rating multiplied by the salaries of bonus eligible employees multiplied by their individual bonus targets. 
  
 Bonus Pool Allocation 
  
 The Compensation Committee shall annually review and approve bonus awards for the CEO and
his executive direct reports. The CEO will review and approve the bonus pool allocation for all other employees by department based upon the achievement of overall corporate performance and the contribution of each group to the corporate objectives.

  
 Determination of Individual Bonuses 
  
 Each employee has individual goals for each year. These relate directly to the Corporate
goals. Individual bonuses will be based on the overall corporate rating, the achievement of each objective, individual performance for both teams and departments, and bonus eligibility. Each of these factors will impact any bonus awards. The
Compensation Committee may also consider individual discretionary bonus payments for exceptional individual performance. 
  
 Criteria 
  

	•	Bonus payments if awarded will be distributed in January of the subsequent year. 

  

	•	Employees must be actively employed on the day the bonus payout is distributed in order to receive that bonus payout. 

  

	•	If an employee is eligible to receive a bonus and is on an approved leave of absence at the day the bonus payout is distributed, the employee will receive their bonus upon their
return to active status. 

 ADOLOR CORPORATION 
 INCENTIVE COMPENSATION PLAN 
  

	•	New hires are eligible for the Incentive Program after completion of 90 days of employment, and bonus payments will be prorated for the year’s length of service.

  

	•	Employees must have attended all mandatory training and acknowledged compliance with all policies and required SOPs in order to receive the bonus payout. 

 

	•	Managers must have completed mid-year and annual performance reviews for all of their employees in order to receive the bonus payout. 

  

	•	Bonus eligibility will be prorated for any time during the year that an employee is on a Performance Improvement Plan or under any formal disciplinary action. In addition, an
employee will be ineligible to receive a bonus if they are on a Performance Improvement Plan or under any formal disciplinary action at the time of the bonus payout. 

  

	•	Adolor reserves the right to modify this plan at any time. 

  
 Adopted by Board of Directors January 6, 2005.Amendment Agreement

 Exhibit 10.1 
  
 BARCLAYS CAPITAL 
  
 5 The North Colonnade 
 Canary Wharf 
 London E14 4BB 
 United Kingdom 
  
 Tel +44 (0)20 7623 2323 
  

	To:	ARAMARK IRELAND HOLDINGS LIMITED (the Company) 

 c/o Christopher S. Holland 
 ARAMARK Corporation 
 ARAMARK Tower 
 1101 Market Street 
 Philadelphia, PA 19107 
 USA 
  
 14 December, 2004 
  
 Dear Sirs, 
  
 £150,000,000 credit agreement dated 21st June, 2004 (and as amended by an amendment agreement dated 21 September 2004) (the “Agreement”) between (among others) the Company and Barclays Bank PLC as facility agent (the “Facility
Agent”) 
  

	1.	Background 

  

	(a)	This letter is supplemental to and amends the Agreement. 

  

	(b)	Pursuant to clause 29 (Amendments and waivers) of the Agreement, the Majority Lenders have consented to the amendments to the Agreement contemplated by this letter. Accordingly, we
are authorised to execute this letter on behalf of the Finance Parties. 

  

	2.	Interpretation 

  

	(a)	Capitalised terms defined in the Agreement have the same meaning when used in this letter, except as otherwise defined in this letter. 

  

	(b)	The provisions of clause 1.2 (Construction) of the Agreement apply to this letter as though they were set out in full in this letter except that references to the Agreement in
clause 1.2 (Construction) are to be construed as references to this letter. 

  

	(c)	Effective Date means the date on which the Facility Agent receives a copy of this letter countersigned on behalf of the Company or such other date as the Company and the
Facility Agent agree (both acting reasonably). 

  

	3.	Amendments 

  
 The Agreement will be amended from the Effective Date as follows: 
  

	(a)	The following definitions shall be added to Clause 1.1 (Definitions): 

  
 “Derivatives Agreement” means any agreement evidencing Lender Derivatives Obligations. 
  
 Barclays Capital - the Investment banking division of Barclays Bank PLC. Registered in
England 1026167. 
  

 1 

 “Lender Derivatives Obligations” means any Derivatives Obligations of any Borrower owing to any
Person that was a Lender or an Affiliate of a Lender on the trade date for any such Derivatives Obligations or any assignee of such Person. 
  

	(b)	The following words shall be inserted at the end of paragraph (a) in Clause 18.1 (Guarantee and indemnity) after the words “Finance Documents”: 

 
 “and guarantees to the Lenders punctual payment of any Lender
Derivatives Obligations”; 
  

	(c)	The following words shall be inserted in paragraph (b) in Clause 18.1 (Guarantee and indemnity) after the words “Finance Document”: 

  
 “or any Derivatives Agreement”; 
  

	(d)	The following words shall be inserted in Clause 18.2 (Continuing guarantee) after the word “Documents”: 

  
 “and any Derivatives Agreement”; 
  

	(e)	The following words shall be inserted in paragraph (f) in Clause 18.4 (Waiver of defenses) after the words “Finance Document”: 

  
 “or any Derivatives Agreement”; 
  

	(f)	The following words shall be inserted in paragraph (g) in Clause 18.4 (Waiver of defenses) after the words “Finance Document”: 

  
 “or any Derivatives Agreement”; 
  

	(g)	The following words shall be inserted in Clause 18.6 (Appropriations) after the words “Finance Documents”: 

  
 “or any Derivatives Agreement”; 
  

	(h)	The following words shall be inserted in paragraph (a) in Clause 18.7 (Non-competition) after the words “Finance Documents”: 

  
 “or any Derivatives Agreement”; 
  

	(i)	The following words shall be inserted in paragraph (a) in Clause 18.8 (Release of Guarantors’ right of contribution) after the words “Finance Documents”:

  
 “or any Derivatives Agreement”;

  

	(j)	The following words shall be inserted at the end of sub-paragraph (i) of paragraph (a) in Clause 18.11 (Consideration and enforceability with respect to the U.S. Guarantors) after
the word “Agreement”: 

  
 “and as a
result of any transactions contemplated by any Derivatives Agreements”; 
  

 2 

	(k)	The following words shall be inserted in sub-paragraph (ii) of paragraph (a) in Clause 18.11 (Consideration and enforceability with respect to the U.S. Guarantors) after the words
“Finance Documents”: 

  
 “and any
Derivatives Agreements”; 
  

	4.	Representations 

  
 The Company confirms to each Finance Party that on the date of this letter and on the Effective Date the Repeating Representations: 
  

	 	(a)	are true; and 

  

	 	(b)	would also be true if references to the Agreement are construed as references to the Agreement as amended by this letter. 

  
 Each Repeating Representation is applied to the circumstances existing at
the time the Repeating Representation is made. 
  

	5.	Miscellaneous 

  

	(a)	This letter is a Finance Document. 

  

	(b)	Subject to the terms of this letter, the Agreement will remain in full force and effect and the Agreement and this letter will be read and construed as one document.

  

	6.	Governing law 

  
 This letter is governed by English law. 
  

			
	 /s/ Ola Busari

	 	 
	 For

	 BARCLAYS BANK PLC

	 as Facility Agent for itself and on behalf of the Majority Lenders

	
	 We agree with the terms of this letter.

		
	 /s/ Christopher Holland

	 	/s/ January 4, 2004
	 For
	 	 
	 ARAMARK IRELAND HOLDINGS LIMITED

	 as the Company for itself and on behalf of the Obligors

  

 3Letter Agreement

 Exhibit 10.1 
  
 [Pentair, Inc. Letterhead] 
  
 January 6, 2005 
  
 Mr. Michael Schrock 
 President & Chief Operating Officer, Enclosures Group 
 Pentair, Inc. 
 5500 Wayzata Blvd, Suite 800 
 Golden Valley, MN 55416 
  
 Dear Mike: 
  
 RE: Special Recognition and
Retention Award 
  
 The Board of Directors of Pentair, Inc. wants to
acknowledge the excellent job that you have done for the Company. As Pentair continues to grow and evolve, we need your leadership, strategic vision, and flawless execution. 
  
 To demonstrate our continued belief in you, Pentair hereby grants you, subject to your acceptance and your signing of a non-competition
agreement, a one-time special award of 61,275 shares of restricted stock. The restricted stock is subject to the provisions of the Company’s Omnibus Stock Incentive Plan and your Key Executive Employee Severance Agreement dated August 23, 2000.
The vesting schedule of the award will be longer than typically used for equity awards made pursuant to the Plan: 100% of the awards will vest on the fifth anniversary of grant. As part of signing the related non-competition agreement, you will be
agreeing that this award will serve as adequate consideration for entering the agreement even if you do not stay with Pentair long enough for the shares to vest. 
  
 Nothing contained in this letter alters any of the terms of your employment, nor does it represent a guarantee of employment. However, it
should serve as an indicator of the faith we have in you as a senior Pentair executive. 
  
 This letter agreement is governed by the laws of the State of Minnesota. It may not be amended or modified except through a letter signed by the Company and you. 

 If this letter agreement is acceptable to you, please indicate your acceptance by countersigning it in the place provided
below. Upon your signing the non-competition agreement, it will become a binding agreement between the Company and you. Once receiving the countersigned original, Fred Koury will supply you with any additional paperwork required to effect this
grant. 
  
 Please call Fred Koury or me if you have any questions. 
  

	
	Regards,
	
	Randall Hogan
	Chairman & Chief Executive Officer
	Pentair, Inc.

  
 Accepted and agreed to on
January 6, 2005 
  

			
	By:	 	  

	 	 	Michael Schrock

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}]]