Document:

Exhibit 10.25

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE ACCOLADE, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO ACCOLADE, INC. IF PUBLICLY DISCLOSED.

 

AMENDMENT TO EXHIBIT C

TO THE AMENDED AND RESTATED SERVICES AGREEMENT

 

This “Amendment” is to the AMENDED AND RESTATED SERVICES AGREEMENT (the “Agreement”), dated June 29, 2015, by and between Accolade, Inc., a Delaware corporation (“Accolade”) and Comcast Cable Communications Management, LLC, a Delaware limited liability company, on behalf of itself, its Affiliates and The Comcast Comprehensive Health and Welfare Plan (“Comcast”). Accolade and Comcast are each a “Party” and collectively referred to as the “Parties.” Capitalized terms used but not defined herein shall have the respective meanings ascribed thereto in the Agreement. Section references herein, if any, shall refer to Section references in the Agreement.

 

For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Accolade and Comcast hereby agree to amend the Agreement as follows:

 

AMENDMENT EFFECTIVE DATE

 

This Amendment shall be effective October 31, 2016 (the “Amendment Effective Date”), and continue unless and until amended by the Parties in writing.

 

AMENDMENTS TO EXHIBIT C

 

Sections 4.5 and 4.6 shall be deleted in their entirety and replaced with the following:

 

4.5 [***]. ([“[***]”]). In association with Comcast’s wellness incentive program, Comcast shall pay Accolade the fees related to the execution of [***] as set forth per the following table:

 

	
Service Type
    	
 
    	
Cost Per
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    
	
[***]
    	
 
    	
[***]
    

 

4.5.1                     Marketing. At the request of Comcast and under the Comcast brand, Accolade will send emails [***] to Comcast employees, at their Comcast email address, who are eligible for [***], but have not yet completed the [***]. Comcast will pay Accolade [***] per email campaign for a total of [***] per year. The fee includes [***].

 

4.5.2                     Reporting. Comcast will pay Accolade [***] per quarter for a total of [***] per year for reporting on the [***] program. The fee includes [***].

 

1

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE ACCOLADE, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO ACCOLADE, INC. IF PUBLICLY DISCLOSED.

 

4.5.3                     Administration. Comcast will pay Accolade [***] per year for [***] program administration. The fee includes [***].

 

4.5.4                     Fees. Accolade will invoice Comcast separately for the marketing, reporting, and administration services it provides related to the [***] program. Any payment owed under such invoice shall be paid within [***] of Comcast’s receipt of the invoke.

 

4.6                               [***]. In association with Comcast’s wellness incentives program, Comcast shall pay Accolade the fees related to execution of Member [***] as set forth per the following:

 

	
[***]— per   kit
    	
 
    	
[***]
    

 

[Signature page follows]

 

2

 

Except as amended hereby and by any prior amendments to the Agreement, the original Agreement shall remain in full force and effect in accordance with the terms hereof.

 

IN WITNESS WHEREOF, the Parties hereto, by their duly authorized representatives, have executed this Amendment.

 

	
Comcast Cable Communications   Management, LLC
    	
Accolade, Inc.
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Peter Kiriacoulacos
    	
 
    	
By:
    	
/s/ Stephen H. Barnes
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Name:
    	
Peter Kiriacoulacos
    	
 
    	
Name:
    	
Stephen H. Barnes
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Title:
    	
Executive   Vice President &
    	
 
    	
Title:
    	
Chief Financial Officer
    
	
 
    	
Chief   Procurement Officer
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date:
    	
10-27-16
    	
 
    	
Date:
    	
10-11-16
    

 

3Exhibit 10.26

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE ACCOLADE, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO ACCOLADE, INC. IF PUBLICLY DISCLOSED.

 

AMENDMENT AND RESTATEMENT OF EXHIBITS F AND G
 TO THE AMENDED AND RESTATED SERVICES AGREEMENT

 

“EXHIBIT F” and “EXHIBIT G” to the AMENDED AND RESTATED SERVICES AGREEMENT (the “Agreement”), dated June 29, 2015, by and between Accolade, Inc., a Delaware corporation (“Accolade”) and Comcast Cable Communications Management, LLC, a Delaware limited liability company, on behalf of itself, its Affiliates and The Comcast Comprehensive Health and Welfare Plan (“Comcast”) (each a “Party” and collectively, the “Parties”) are hereby amended and restated in their entirety, as set forth below.

 

Capitalized terms used but not defined herein shall have the respective meanings ascribed thereto in the Agreement and applicable Exhibits.  Section references herein, if any, shall refer to Section references in the Agreement and applicable Exhibits.

 

For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Accolade and Comcast hereby agree to amend the Agreement as follows:

 

AMENDMENT EFFECTIVE DATE

 

This Amendment shall be effective retroactively as of January 1, 2017.  All measurements and calculations of the relevant metrics, and any adjustments to Base Fees resulting from the Performance Guarantees and the Incentive Payments, shall begin on [***] unless otherwise stated below, and continue unless and until amended by the Parties in writing.

 

Versions of Exhibits F and G, as amended from time to time, in force for Service Years [***] shall serve as reference as to the Parties’ agreement regarding Performance Guarantees and Incentive Payments applicable to such prior Service Years, but shall not have effect on Service Years [***].

 

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE ACCOLADE, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO ACCOLADE, INC. IF PUBLICLY DISCLOSED.

 

Except as expressly set forth herein, the terms and conditions of the Agreement remain in full force and effect.  In the event of a conflict between the terms of this Amendment and the Agreement, the terms of this Amendment will govern.

 

IN WITNESS WHEREOF, the Parties hereto, by their duly authorized representatives, have executed this Amendment.

 

	
Comcast Cable Communications   Management, LLC
    	
 
    	
Accolade, Inc.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Shawn Leavitt
    	
 
    	
By:
    	
/s/ Rajeev Singh
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Name:
    	
Shawn Leavitt
    	
 
    	
Name:
    	
Rajeev Singh
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Title:
    	
SVP Total Rewards
    	
 
    	
Title:
    	
CEO
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date:
    	
September 18, 2017
    	
 
    	
Date:
    	
September 18, 2017
    

 

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE ACCOLADE, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO ACCOLADE, INC. IF PUBLICLY DISCLOSED.

 

EXHIBIT F

(Amended and Restated)

 

PERFORMANCE GUARANTEES

 

1.                                      Accolade Health Assistant Center-related metrics must meet performance guarantees (“Performance Guarantees”) in order to avoid a payment to Comcast depending on whether the Performance Guarantee metrics (“Metrics”) are met or not met.

 

2.                                      Any payment to Comcast hereunder shall be imposed as a quarterly PMPM or PEPM refund, as applicable based on the Service Year in question, paid per the terms outlined in Section 6.2.

 

3.                                      The Performance Guarantees, Metrics and associated payments are set forth for three categories, which are defined on the attached pages: [***].

 

4.                                      Measurement of the Metrics and implementation of a payment, if any, will begin on [***].

 

5.                                      Any of these Performance Guarantees, the Metrics or the payment for failing to meet any Performance Guarantee may be eliminated or changed by the mutual written agreement of the Parties at any time.

 

6.                                      Comcast agrees to fully cooperate and provide reasonable support to Accolade in its efforts to perform in accordance with these Performance Guarantees, to meet the Metrics and to avoid a payment to Comcast.

 

7.                                      For the duration of an Extraordinary Event, so long as Accolade is in compliance with Section 3.4 of the Agreement Accolade shall be relieved of its obligations to comply with the Performance Guarantees and the Metrics set forth herein without penalty.

 

Service Years [***]

 

On an annual basis, [***] to the start of the next Service Year during the Term [***] for Service Year [***], the Parties will use commercially reasonable efforts to discuss and mutually agree to any adjustments to the Performance Guarantees and Metrics for the following Service Year.  Changes to Performance Guarantees for the following Service Year will not be effective unless and until mutually agreed in writing by the Parties.  In the event the Parties fail to reach an agreement on new Performance Guarantees before the start of the following Service Year, the Performance Guarantees from the previous Service Year shall continue until the Parties reach such agreement.

 

[***]

 

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE ACCOLADE, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO ACCOLADE, INC. IF PUBLICLY DISCLOSED.

 

[***]

 

 

EXHIBIT G

(Amended and Restated)

 

INCENTIVE PAYMENTS ([***] ONLY)

 

1.                                      For Service Year [***], Comcast shall pay Accolade an incentive payment (“Incentive Payment”) for achieving targets (“Incentive Goals”) for each of the following categories, as calculated in accordance with the “[***] Incentive Goals Table” below: [***], and [***].

 

2.                                      Incentives for Service Year [***] are shown in the tables below:

 

2.1                               [***] Incentive Goals

 

	
[***] Tier 1 Incentive Goals/ Payments
    	
 
    	
[***] Tier 2 Incentive Goals/ Payments
    
	
 
    	
 
    	
 
    
	
Incentive Payment = Successful   Achievement of Tier 1 Incentive Goal will result in a payment of [***] on total annual Member Months
    	
 
    	
Incentive Payment = Successful   Achievement of the Tier 2 Incentive Goal in Q4 will result in a [***] incremental payment over Tier 1 on total annual   Member Months
    
	
 
    	
 
    	
 
    
	
Q1 and Q2 Incentive Goals:
   -1 - Develop, document and review with Comcast in Q1 the protocol for [***] to ensure that Members [***]
    	
 
    	
Incentive Goal:
    [***] of members identified and   eligible in Q4 go through [***] in Q4   (as measured in accordance with Section 2.1.1 below).
    
	
 
    	
 
    	
 
    
	
-2 - Successfully implement the [***] in   Q2
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
-3 - Measure and refine in Q3/Q4
    	
 
    	
 
    

 

 

2.1.1                     [***] Tier 2 Measurement

 

	
ID
    	
 
    	
Metric
    	
 
    	
Source
    	
 
    	
Formula
    
	
a
    	
 
    	
Total number of [***]
    	
 
    	
[***]
    	
 
    	
Total number of members [***]   for [***] for [***]   captured in [***] for those clients meeting   the criteria in the denominator
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
b
    	
 
    	
Total # of [***]
    	
 
    	
[***]
    	
 
    	
·                  Total number   of clients Accolade has engaged in [***] and   (i) report having [***]   (ii) and is scheduled for [***]

·                  If a Client is   engaged on more than [***]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
c
    	
 
    	
v
    	
 
    	
 
    	
 
    	
[***]
    

 

 

2.2                               [***] Incentive Goals

 

	
[***] Tier 1 Incentive Goals / Payments
    	
 
    	
[***] Tier 2 Incentive Goals / Payments
    
	
 
    	
 
    	
 
    
	
Incentive Payment = Successful   Achievement of Tier l Incentive Goal will result in a payment of [***] on total annual Member Months
    	
 
    	
Incentive Payment = Successful   Achievement of the Tier 2 Incentive Goal in Q4 will result in a [***] incremental payment over Tier 1 on total annual   Member Months

 
    
	
 
    	
 
    	
 
    
	
Q1 and Q2 incentive Goals
   - 1 - Develop, document and review with Comcast in Q1 the protocol for [***] including [***]. [***] is defined as services [***].   The objective of the [***] is to   (1) [***], and (2) [***]. Accolade will support this initiative with a   focus on [***]
    	
 
    	
Incentive Goals
    [***] of members identified and   eligible in Q4 go through v in Q4 (as measured in accordance with   Section 2.2.1 below).
    
	
 
    	
 
    	
 
    
	
- 2 - Successfully implement the [***] in Q2
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
- 3 - Measure and refine in Q3/Q4
    	
 
    	
 
    

 

 

2.2.1 [***] Tier 2 Measurement.

 

	
ID
    	
 
    	
Metric
    	
 
    	
Source
    	
 
    	
Formula
    
	
a
    	
 
    	
Total number of [***]]
    	
 
    	
[***]
    	
 
    	
Total number of [***] meeting   the criteria in the denominator that Accolade provided with a [***]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
b
    	
 
    	
Total # of [***]
    	
 
    	
[***]
    	
 
    	
·                  Total number   of clients Accolade has engaged in [***] who   meet either or both of the following conditions: (i) client indicates   he/she is [***], and/or (ii) client   is [***]

·                  If a Client is   [***], then each event is counted in   both the numerator and denominator
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
c
    	
 
    	
[***]
    	
 
    	
 
    	
 
    	
[***]
    

 

 

2.3                               [***] Incentive Goals

 

	
[***] Tier 1 Incentive Goals / Payments
    	
 
    	
[***] Tier 2 Incentive Goals / Payments
    
	
 
    	
 
    	
 
    
	
Incentive Payment = Successful   Achievement of the Tier 1 Incentive Goal will result in a payment of [***] on total annual Member Months
    	
 
    	
Incentive Payment = Successful   Achievement of the Tier 2 Incentive Goal will result in a [***] incremental payment over Tier 1 on total annual   Member Months
    
	
 
    	
 
    	
 
    
	
Incentive Goals
    [***] of total [***],   as defined in Section 2.3.1 below. The goal of this Incentive is to   (1) increase [***], and   (2) develop processes and procedures to [***].
    	
 
    	
Incentive Goals
    [***] of total [***],   as defined in Section 2.3.1 below.
    
	
 
    	
 
    	
 
    
	
Accolade will [***].   Accordingly, [***] cases are excluded from   the Incentive Goal.
    	
 
    	
Accolade will [***].   Accordingly, [***] cases are excluded from   this Incentive Goal.
    

 

 

2.3.1 [***] Measurement.

 

	
ID
    	
 
    	
Metric
    	
 
    	
Source
    	
 
    	
Formula
    
	
a
    	
 
    	
Total number of [***]
    	
 
    	
[***]
    	
 
    	
Total number of Accolade [***]   that result in an [***] as   defined in (d) below (excluding [***]   procedures).
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
b
    	
 
    	
Total [***]
    	
 
    	
[***]
    	
 
    	
·                       Total   number of [***] as defined in   (d) below (excluding [***] procedures).

·
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
c
    	
 
    	
[***]
    	
 
    	
 
    	
 
    	
[***]
    
	
 
    	
 
    	
 
    
	
d
    	
 
    	
Cases Reviewed by [***]   - All [***] accepted by [***], including [***] with   the following [***] status — [***]. An [***] is   defined as a [***]. Any [***]   resulting in an [***] will   not be applied to the incentive count.
    

 

 

2.4                               [***] Incentive Goals

 

	
[***] Tier 1 Incentive Goals / Payments
    	
 
    	
[***]Tier 2 Incentive Goals / Payments
    
	
 
    	
 
    	
 
    
	
Incentive Payment = Successful   Achievement of Incentive Goal will result in a payment of [***] on total annual Member Months
    	
 
    	
Incentive Payment = Successful   Achievement of Incentive Goal will result in a [***] incremental   payment over Tier 1 on total annual Member Months
    
	
 
    	
 
    	
 
    
	
Q1 and Q2 Incentive Goals
   - 1 - Develop, document and review with Comcast protocol for [***]. The goal of the [***] is   to (1) [***], (2) [[***], and (3) [***].
    	
 
    	
Incentive Goals
    [***] by Comcast Members as compared   to prior Service Year’s [***] (as   measured in accordance with Section 2.4.1 below).
    
	
 
    	
 
    	
 
    
	
- 2 - Successfully implement the [***] in Q2
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
-3 - Measure and refine in Q3/Q4
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Total Tier l Incentive Payments = [***]
    	
 
    	
Total Tier 2 Incentive Payments = [***] (incremental payment over Tier 1)
    

 

 

2.41                        Measurement.

 

The time periods for measurement are defined as [***] dates with [***].  The Tier 2 incentive is met if [***] after adjusting for [***].  [***] are included to adjust for the plan design change Comcast implemented.  If [***] are less than [***] by [***], then we meet the incentive.

 

	
ID
    	
 
    	
Metric
    	
 
    	
Value
    	
 
    	
Source
    	
 
    	
Formula
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
 
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
 
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
 
    	
 
    	
[***]
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
 
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
 
    	
 
    	
[***]
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
 
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
 
    	
 
    	
[***]
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
 
    	
 
    	
[***]
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
 
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
 
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
 
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    
	
[***]
    	
 
    	
[***]
    	
 
    	
[***]
    	
 
    	
 
    	
 
    	
[***]
    	
 
    

 

2.4.2.                  Definitions:

 

2.4.2.1                       [***] — is the total of the measure [***] as reported in the [***] report based on [***] divided by total [***]

 

2.4.2.2                       [***] — is the total of the measure [***] as reported in the [***] report based on [***] divided by total [***]

 

2.4.2.3                       [***] — is the [***] minus the [***], then taking that number divided by [***] expressed as a percentage.  If this result is [***], then the [***] Tier 2 Threshold is met.  For example, if [***] = [***] and [***] the [***] would be calculated as:

 

[100] ([***]) — [***] ([***])

 

 

/ [100] ([***]) = [***] = [***]expressed as a percentage

 

[***] so Tier 2 Incentive Payment owed

 

 

3.              Incentive Payment Calculations.  For purposes of calculating Incentive Payments, the PMPM incentive rates set forth in the table below will be multiplied by the total annual Member Months for Comcast Members.  Incentives earned will be billed [***] as [***].

 

4.                                      Incentive Approval Process

 

4.1                               For any Incentive Goals where Accolade will [***] or [***], within [***] of when such Incentive Goals should have been completed, the Parties shall promptly meet and review information related to Accolade’s progress against completion of the Incentive Goals.  If Comcast does not agree that Accolade has completed an Incentive Goal, it will promptly notify Accolade of its disagreement and provide the detailed basis therefor.

 

4.2                               For any other Incentive Goals requiring data collection and/or calculation, within a reasonable period following the date all data for calculating achievement of such Incentive Goal is accessible to Accolade, Accolade will report its performance against such Incentive Goal to Comcast in writing.  The process for Comcast review will follow the process set forth in Section 4.1 above.

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