Document:

Ex 10.19

Exhibit 10.19
WELLCARE HEALTH PLANS, INC.

Non-Employee Director Compensation Policy

This Non-Employee Director Compensation Policy (the “Policy”) sets forth the compensation to be paid to non-employee members (“Non-Employee Directors”) of the Board of Directors (the “Board”) of WellCare Health Plans, Inc. (the “Company”), which shall remain in effect until amended, replaced or rescinded by further action of the Board.  

Annual Retainers and Fees

Effective May 23, 2013, the retainers and fees for Non-Employee Directors will be as set forth below and shall be cumulative.

Board Service:

		
	•
	A base annual retainer of $80,000.

		
	•
	Chairman of the Board - The non-executive Chairman of the Board shall receive an additional annual retainer of $250,000.

Standing Committees:

		
	•
	Audit Committee - Each member of the Audit Committee shall receive an additional annual retainer of $17,000, except the chairperson who shall receive an additional retainer of $27,000.

		
	•
	Compensation Committee - Each member of the Compensation Committee shall receive an additional annual retainer of $12,000, except the chairperson who shall receive an additional retainer of $22,000.

		
	•
	Each member of the Nominating and Corporate Governance Committee, the Health Care Quality and Access Committee and the Regulatory Compliance Committee shall receive an additional annual retainer of $8,000, except the chairpersons who shall receive an additional retainer of $18,000.

Non-Standing Committees:

		
	•
	Retainers for each non-standing committee will be evaluated periodically and based on expected roles and responsibilities.

Payments

The annual retainers for service on the Board and committees of the Board as set forth above shall be paid by the Company in quarterly installments as soon as practicable after the end of each of the Company's fiscal quarters for which the member shall have served.  A member of the Board or any of its committees who serves on such during a portion of a quarterly period, shall be entitled to the full quarterly installment for such quarterly period.      

Notwithstanding the foregoing, the annual retainer paid to a member serving on a non-standing committee for a portion of a quarterly period, shall be entitled to the quarterly installment calculated on a pro-rata, monthly basis.  

Initial Equity Awards

Unless otherwise determined by the Compensation Committee and subject to the Compensation Committee's approval, upon, and contingent on, a new Non-Employee Director's appointment or election to the Board, newly elected or appointed members of the Board shall receive an initial award of restricted stock units with a fair market value of approximately $150,000, rounded to the nearest whole share, as determined by reference to the officially-quoted closing 

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selling price of the Company's common stock on the New York Stock Exchange on the grant date, pursuant to and in accordance with the terms and provisions of a restricted stock unit agreement and the WellCare Health Plans, Inc. 2004 Equity Incentive Plan (the “2004 Equity Plan”).  Such equity award of restricted stock units shall vest in approximately equal parts on the first, second and third anniversary of the date of grant. 

Annual Equity Awards

Unless otherwise determined by the Compensation Committee and subject to the Compensation Committee's approval, each Non-Employee Director, other than a Non-Employee Director joining the Board at the annual meeting, shall receive an annual equity award of either restricted stock units or deferred stock units, as elected by the Non-Employee Director,  with a fair market value of approximately $140,000, rounded to the nearest whole share, as determined by reference to the officially-quoted closing selling price of the Company's common stock on the New York Stock Exchange on the grant date, pursuant to and in accordance with the terms and provisions of a restricted stock unit agreement or deferred stock unit agreement, as the case may be, and the 2004 Equity Plan.  Unless otherwise determined by the Compensation Committee, all such annual equity awards shall be granted on the date of the Company's annual meeting of stockholders.  Such equity awards shall vest in full on the earlier of the first anniversary of the date of grant or the date of the next annual meeting of stockholders.  

Stock Ownership Guidelines 

Non-Employee Directors are required to own shares of the Company's common stock (the “Ownership Requirement”) having a value (as described below) equal to the sum of five (5) times the base annual retainer payable to each Non-Employee Director as set forth in this Policy as in effect from time to time.

For purposes of determining ownership, the following will be used in determining whether a Non-Employee Director has satisfied the Ownership Requirement:

		
	•
	One hundred percent (100%) of the value of shares of the Company's common stock owned individually, either directly or indirectly, including vested and unvested restricted stock, restricted stock unit awards, deferred stock unit awards or shares acquired upon exercise of stock options; and

		
	•
	Shares of the Company's common stock owned jointly, or separately by a spouse, domestic partner and/or minor children, directly or indirectly.

No other rights to acquire shares of Company common stock (including stock options or similar rights) shall be considered shares of Company common stock for purposes of meeting the Ownership Requirements under this Policy.  

For purposes hereof, the value of a share of the Company's common stock, including vested and unvested restricted stock, restricted stock units and deferred stock units, shall be calculated on April 1st of each year based on the average closing price of the Company's common stock during the most recently completed fiscal quarter at the time of the calculation (a “Determination Date”).  If a Non-Employee Director does not meet the Ownership Requirement as of a Determination Date, such Non-Employee Director must satisfy the Ownership Requirement on the next Determination Date.

In the event the base annual retainer increases, each Non-Employee Director will have five (5) years from the time of the increase to acquire any additional shares needed to satisfy the Ownership Requirement. 

A Non-Employee Director shall have until the end of the first Determination Date following the fifth anniversary of such Non-Employee Director's election or appointment to the Board or upon otherwise becoming a Non-Employee Director of the Board to satisfy the Ownership Requirement; provided, however, that a Non-Employee Director who was a Non-Employee Director of the Company as of April 1, 2009, shall have until December 31, 2013 to meet the Ownership Requirement.

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Approved by the Board: March 23, 2009
Amended by the Board April 29, 2009
Amended by the Board August 5, 2010
Amended by the Board December 16, 2010
Amended by the Board May 24, 2012
Amended by the Board May 23, 2013

3EX_10.24_GF

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Amendment No. 2 
to the Collaborative Development Program Agreement 
GLOBALFOUNDRIES and Intermolecular

WHEREAS GLOBALFOUNDRIES Inc., an exempted company incorporated under the laws of the Cayman Islands, and having a registered address at PO Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands (hereinafter referred to as "GLOBALFOUNDRIES" or “GF”) and INTERMOLECULAR, INC., a Delaware corporation located at 3011 North First Street, San Jose, California 95134 (hereinafter referred to as "Intermolecular" or “IM”) entered into a Collaborative Development Program agreement with an effective date of June 1, 2011 (“CDP Agreement”).   

WHEREAS the CDP Agreement was subsequently amended with an effective date of April 22, 2012 (“Amendment No. 1”).  

WHEREAS GLOBALFOUNDRIES and Intermolecular wish to modify the terms of the CDP Agreement (as amended by Amendment No. 1) by this Amendment No. 2 (this Amendment No. 2 hereinafter referred to as “Amendment”).

NOW THEREFORE, in consideration for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, GLOBALFOUNDRIES and Intermolecular agree to modify the terms of the CDP Agreement, as amended, as follows.

		
	1.
	EFFECTIVE DATE

This Amendment shall be effective on the last date of the signatures of the authorized representatives below (“Amendment Effective Date”) except for Sections 7 and 9 of this Amendment which shall have an effective date of July 1, 2013.

		
	2.
	MODIFY SECTION 2.2

Section 2.2 of the CDP Agreement is deleted in its entirety and replaced with the following:

2.2 FTEs & Quality of Work. 
For the second quarter of 2013, IM will provide an average of [***] FTEs to support the development activities in the Development Plan.  For each subsequent quarter of the CDP Term beginning with the third quarter of 2013, IM will provide a minimum quarterly average of [***] FTEs to support the development activities in the Development Plan. The aforementioned FTEs will include at least [***] FTEs based in GF's facilities in [***]. 

		
	3.
	MODIFY SECTION 2.4

Section 2.4 of the CDP Agreement is deleted in its entirety and replaced with the following:

2.4  Facilities & Workspace.  IM will provide adequate facilities and workspace for up to [***] GF employees at IM's HPC R&D Center in San Jose, CA and additional resources as are necessary to support IM's obligations pursuant to the Development Plan.  IM will provide badge access, landline phone connection, internet access, and cubicle or office space.  GF employees must complete IM's standard confidentiality and safety training prior to being able to work in IM's HPC R&D Center.  IM will provide adequate facilities space for storage of GF wafers, materials, targets and any other assets required to enable the Development Plan.
IM shall ensure its employees comply in all material respects with all personnel, human resources, security and safety rules, procedures, and guidelines and regulatory requirements (collectively “Rules”) applicable to contractors that are resident at or visiting GF facilities while such employees are at such facilities. In particular, IM agrees to abide by security requirements as may apply to its employees while at the GF facilities.  IM shall be responsible for the acts and omissions of IM personnel at GF facilities where such acts or omissions are in violation of the Rules.

Page 1 of 1  [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

  
		
	4.
	MODIFY SECTION 2.11

Section 2.11 of the CDP Agreement is deleted in its entirety and replaced with the following:

2.11 Period of development activities in the Development Plan. The initial period of all development activities in the Development Plan (“Initial Period”) shall expire on December 31, 2014 (“Expiration Date”).  Notwithstanding the foregoing, GF in its sole discretion has the right to modify the Expiration Date by providing written notice to IM (“Cancellation Notice”).  If a Cancellation Notice is provided, the Initial Period will expire one hundred and twenty days (120) calendar days after receipt of the Cancellation Notice by IM provided that the Initial Period shall not expire on or prior to June 1, 2014. . For avoidance of doubt, such modification shall not affect the rights and obligations of the parties pursuant to the terms of Section 11 (“Termination”).  

Upon expiration of the Initial Period, the period of development activities shall automatically renew for successive periods of 12 months each unless either party provides written notice to the other party, given not less than 90 days prior to the expiration of the then-current period (the applicable period hereinafter referred to as the “CDP Term”), of its intent to not continue such development activities after such expiration. Notwithstanding the foregoing, if during said 90 day period, GF elects not to extend the CDP Term, GF shall provide IM written notice of non-renewal during said period.  Such non-renewal shall be effective 90 days from such notice. Such expiration shall not impact termination of the Agreement which shall be solely governed by Section 11 (“Termination”).
 
		
	5.
	DELETE SECTION 4

Effective July 1, 2013, Section 4 of the CDP Agreement is deleted in its entirety and replaced with the following:

4    This section intentionally left blank.

		
	6.
	DELETE SECTION 5

Section 5 of the CDP Agreement is deleted in its entirety and replaced with the following:

5    This section intentionally left blank.

		
	7.
	MODIFY SECTION 6.1 (D) & 6.1 (E)

Sections 6.1 (d) and 6.1 (e) of the CDP Agreement are deleted in their entirety and replaced with the following:

6.1 (d)    For each quarter beginning Q1 CY2012 and ending Q2 CY2013 -     $[***]

6.1 (e)     For each quarter beginning Q3 CY2013 and ending Q4 CY2013 -     $[***]

		
	8.
	ADD SECTION 6.1 (F)

A new section 6.1 (f) is added as follows:

6.1 (f)    For each quarter beginning Q1 CY2014 and ending Q4 CY2014 -    $[***]

		
	9.
	DELETE SECTION 6.2 AND MODIFY SECTION 6.3

Effective July 1, 2013, Section 6.2 of the CDP Agreement is deleted in its entirety and replaced with the following:

6.2. This section intentionally left blank.
 
The first paragraph of Section 6.3 of the Agreement is deleted in its entirety and replaced with the following:

Page 2 of 2  [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

6.3 Royalties under IM licenses to GF based on CDP IP. It is expected that GF or GF's Affiliates will develop, manufacture, have manufactured, distribute, lease, sell or otherwise dispose of (collectively “Commercialize”) Products that utilize, are derived from or incorporate (collectively “Based on”) the CDP IP developed as a result of conducting each Project (hereinafter “Project Products”). For all CDP IP developed during a Project (hereinafter “Project IP”), as partial  consideration for the licenses granted in Section 3.5, GF shall pay IM a royalty as a percentage of gross revenues, excluding any bump and sort costs, from unrelated companies for Project Products Commercialized by GF and GF's Affiliates. The royalty percentage to be applied will depend on the Project Category as identified in the Development Plan. Each Project shall be associated with a Project Category prior to the commencement of such Project. If the Development Plan Success Factors are not met or exceeded as agreed upon by the Operating Committee, the royalty percentage will be adjusted in accordance with the guidelines provided by the Operating Committee.  Notwithstanding the aforementioned, Annual Royalty Caps in Section 6.7 remain in effect. 

		
	10.
	MISCELLANEOUS

This Amendment shall be deemed to be incorporated into the CDP Agreement and made a part thereof.  All references to the CDP Agreement in any other document shall be deemed to refer to the CDP Agreement as modified by this Amendment. Except as modified by this Amendment, all of the terms and conditions of the CDP Agreement shall remain in full force and effect. In the event that the terms of this Amendment conflict with the terms of the CDP Agreement, the terms of this Amendment shall control. 

		
	11.
	EXECUTION

This Amendment may be executed in any number of counterpart originals, each of which shall be deemed an original instrument for all purposes, but all of which shall comprise one and the same instrument.  This Amendment may be delivered by electronic mail or facsimile, and a scanned version of this Amendment shall be binding as an original.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by
their duly authorized representatives:

GLOBALFOUNDRIES Inc.                    Intermolecular, Inc.

Date:                            Date:

Name:                            Name:        

(Print)                            (Print)    

Title:                            Title:

Page 3 of 3  [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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