Document:

FIRST AMENDMENT TO LEASE AGREEMENT

 

THIS FIRST AMENDMENT TO LEASE AGREEMENT (this
"Amendment") is made as of February 15 2013 by and between Burton 6, LLC, a Tennessee limited
liability company ("Landlord"), and AmSurg
Corp., a Tennessee corporation ("Tenant").

 

RECITALS

 

A.         Landlord and Tenant entered into that
certain Lease Agreement dated December 27, 2012 (the "Lease"),
pursuant to which Landlord leased to Tenant that certain Building to be
constructed by Landlord located on Burton Hills Boulevard, Nashville,
Tennessee, and to contain 109,751 rentable square feet (the
"Premises").

 

B.         Landlord and Tenant wish to amend the Lease
as described herein. 

 

AGREEMENT

 

NOW THEREFORE, in consideration of the mutual
covenants herein and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Landlord and Tenant agree as
follows:

 

1.         PARKING.   

 

(a)         Sections 3.d. and 3.f. of the Lease are
hereby generally amended to delete “Ground Lessor” wherever it appears and
replace it with “Adjacent Owner”.

 

(b)        The second and third sentences of Section
10 of the Lease are hereby deleted and replaced with the following: 

 

“Tenant acknowledges that, pursuant and subject to the
Declaration, the Adjacent Owner shall have rights to use those spaces in the
Surface Parking Lot that are not reserved for Tenant’s exclusive use, and
twenty-one (21) parking spaces in the Parking Garage on an exclusive basis,
which twenty-one (21) spaces shall be located on the Lower Level 01 of the
Parking Garage as more particularly shown on Exhibit G attached hereto,
and shall be marked for Adjacent Owner’s use (collectively, the “Adjacent
Owner’s Reserved Parking Spaces”).  Tenant
agrees not to use the Adjacent Owner’s Reserved Parking Spaces.”  

 

2.         GROUND LEASE.  Section 3.c. of the
Lease is hereby deleted and replaced with the following:

“c.         Landlord represents and warrants that (i)
the Land is currently owned by E.P. Real Estate Fund, L.P., a Tennessee limited
partnership (“Adjacent Owner”), (ii) Landlord has the full power and
authority to execute this Lease, (iii) Landlord shall acquire fee simple
interest in the Land from Adjacent Owner on or before December 31, 2014, and
(iv) the estate demised herein is and shall be subject only to the liens and
encumbrances described on Exhibit D attached hereto, as the same may be
modified from time to time in compliance with Section 3(f) below, and any new
easements, restrictions or other encumbrances hereafter applicable to the
Project executed in compliance with Section 3(f) below (collectively, the
"Permitted Encumbrances").  In the event the Landlord does not
acquire fee simple interest in the Land on or before December 31, 2014, then
Tenant shall be entitled to terminate this Lease by delivering written notice
of such termination to Landlord in addition to Tenant’s other rights and
remedies available at law.”

 

 

 

 

 

 

3.         OPERATING
EXPENSES.   

(a)         Section
6.a.vi.(z) of the Lease is hereby deleted and replaced with the following: 

“(z) Tenant shall receive the full benefit of any tax
incentives procured with respect to the Project.”

 

(b)         Section 6.c.(xxiv) of the Lease is hereby
deleted and replaced with the following:

 

“(xxiv) costs or fees relating to the defense of
Landlord's title to or interest in the Project, or any part thereof, or any
costs or expenses associated with any sale or finance transaction;”

 

(c)         Section 6.c.(xxx) of the Lease is hereby
amended to delete “Ground Lessor” and replace it with “Adjacent Owner”

 

4.         SUBORDINATION AND ATTORNMENT.   

 

(a)         The first sentence of Section 28(a) of the
Lease is hereby amended to delete “and/or Ground Lessor”.

 

(b)         The first sentence of Section 28(b) of the
Lease is hereby amended to delete “or the Ground Lessor”.

 

5.         PERMITTED EXCEPTIONS.  The second
sentence in the introductory paragraph of Exhibit D to the Lease is hereby
deleted and replaced with the following:

 

“This exhibit will be updated as of the date of the
acquisition of the Land to provide for only those matters expressly encumbering
the Land.”

 

6.         ADJACENT OWNER’S PARKING SPACES.  Exhibit
G attached hereto is hereby inserted as Exhibit G to the Lease.

 

7.         INDEMNITY.  The following is added as a new
Section 47 of the Lease:

 

“47.     Indemnity.  Pursuant to
the terms of the Declaration, as defined in Section 3(f) hereof, in the event
New York Life Insurance Company (“NYL”) obtains title to the Adjacent Owner’s
property through foreclosure or deed in lieu of foreclosure, then NYL shall not
be bound by the indemnity therein contained with regard to the acts of Adjacent
Owner in the easement areas discussed in said Declaration.  In the event NYL
obtains title to the Adjacent Owner’s parcel through foreclosure or deed in
lieu of foreclosure, then, during NYL’s ownership of the Adjacent Owner’s
parcel, Landlord shall indemnify Tenant for damage, loss or injury due to NYL’s
or its tenants’ negligence or willful misconduct in the exercise of the easements
and rights contained within the Declaration.”

 

8.         MISCELLANEOUS.  Capitalized terms
used but not otherwise defined herein shall have the same meaning ascribed to
them in the Lease.  This Amendment shall be binding upon, and inure to the
benefit of, the parties hereto and their respective successors.  This Amendment
shall be governed by and construed in accordance with the laws of the state in
which the Premises is located.  In the event of conflict or inconsistency
between the provisions of this Amendment and any provisions of the Lease, the
provisions of this Amendment shall govern.  Except as set forth in this
Amendment, all of the terms and conditions of the Lease shall continue in full
force and effect throughout the term of the Lease.

 

 

 

 

 

 

IN WITNESS
WHEREOF, the parties hereto have duly executed this Amendment as of the date
first above written.

 

 

 

	
   

  	
   

  	
  LANDLORD:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BURTON 6, LLC,

  
	
   

  	
   

  	
  a Tennessee limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John W. Eakin

  
	
   

  	
  Name:

  	
  John W. Eakin

  
	
   

  	
  Title:

  	
  Manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TENANT:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  AMSURG CORP.,

  
	
   

  	
   

  	
  a Tennessee corporation

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Christopher R. Kelly

  
	
   

  	
  Name:

  	
  Christopher R. Kelly

  
	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  

 

 

 

 

 

 

 

EXHIBIT G

 

ADJACENT OWNER’S GARAGE PARKING SPACESExhibit 10.40

 

 

 

Non-Employee Director
Compensation 

 

The Chairman of the Board of
Directors receives an annual retainer of $120,000 for his services as Chairman
and his attendance at meetings of the Board of Directors and committees of the
Board. Each other non-employee director (the “non-employee directors”) receives
an annual retainer of $60,000 for his or her services as a director.  In
addition, the Chairman of the Board of Directors receives an annual grant of
restricted stock with a value equal to $135,000, and each other non-employee
director receives an annual grant of restricted stock with a value equal to $100,000.
Chairmen of the Audit, Compensation and Nominating and Governance Committees
receive an annual retainer of $35,000, $25,000 and $20,000, respectively.
Non-chair members of the Audit Committee receive an annual retainer of $20,000,
and non-chair members of the Compensation and Nominating and Governance
Committee receive an annual retainer of $10,000 and $7,500, respectively. 

 

From time to time, the Board of
Directors of the Company may form ad hoc committees. Each non-employee director
who serves on an ad hoc committee receives $1,000 for each meeting of the ad
hoc committee that he or she attends, whether in person or via telephone, except
that the Chair of any ad hoc committee receives $2,000 for each such meeting
that he or she attends. 

 

The Company maintains a
supplemental executive and director retirement savings plan pursuant to which
non-employee directors may defer up to 100 percent of their cash director fees
and make pre-tax contributions to an investment account established in their
name.  Participants in the supplemental executive and director retirement
savings plan are fully vested in their contributions to the plan, and direct
the investment of their accounts in investment alternatives that the Company
selects.  All contributions to the plan are subject to claims of our creditors.

 

The Company also reimburses each
non-employee director for his or her out-of-pocket expenses incurred in
attending Board of Directors’ meetings and committee meetings.EXHIBIT 10.1

 

LONG TERM INCENTIVE BONUS AGREEMENT

 

THIS LONG TERM INCENTIVE
AGREEMENT (“Agreement”) is made by and between Sherman Black, a Minnesota resident (“Employee”) and Rimage
Corporation, a Minnesota corporation (the “Company”), and is dated as of February 21, 2013.

 

WHEREAS, the Company has
recognized Employee as a key contributor to the success of the Company and the Company wishes to provide Employee with an incentive
to continue employment with the Company through July 1, 2015, as it continues to work through a transformation that will lead the
Company towards further success; and

 

WHEREAS, the Company agrees
to provide Employee a cash bonus (“LTI Bonus”) according to the terms and conditions hereinafter set forth in return
for Employee’s continued employment;

 

NOW, THEREFORE, in consideration
of the premises and the mutual promises hereinafter contained, the parties hereto agree as follows:

 

1.             LTI Bonus

 

1.1        Plan Controls. This
Agreement sets forth the terms and conditions of an award of a Stock Incentive consisting of cash to Employee under the Section
14 of the Rimage Corporation Second Amended and Restated 2007 Stock Incentive Plan (the “Plan”) that is intended to
qualify for the Performance-Based Exception. Capitalized terms used herein and not defined shall have the meaning given such terms
in the Plan; provided that the term “Cause” shall have the meaning given in that certain Amended and
Restated Letter Agreement dated February 21, 2013 between the Company and Employee as may be further amended or amended and restated
(the “Letter Agreement”).

 

1.2        LTI Bonus Period.
The Employee will be eligible for an LTI Bonus in the amount of $1,500,000 (“LTI Bonus Amount”) at the target level,
with the actual amount of the LTI Bonus determined by the Committee based upon performance measures approved by the Committee for
the two twelve month periods ending December 31, 2013 and 2014 (the “Performance Periods”).

 

1.3        Payment of Performance
Portion. The Committee shall determine the achievement of the performance measures for each Performance Period and the corresponding
portion of the LTI Bonus, if any, earned by Employee with respect to such Performance Period. The LTI Bonus will be paid in lump
sum installments in accordance with the following schedule, no later than the first regular payroll date following the installment
date, but only if Employee is employed by the Company on the installment date set forth below and has been continuously so employed
through such date:

 

 

    	1

    	 

    

 

	Installment Date	Percentage payable before taxes/other withholdings
	March 1, 2014	25% of the LTI Bonus Amount multiplied by the 2013 matrix performance factor
	March 1, 2015	25% of the LTI Bonus Amount multiplied by the 2014 matrix performance factor
	July 1, 2015	50% of the LTI Bonus Amount multiplied by the weighted average of 2013 and 2014 matrix performance factors

 

1.4        Upon Termination
without Cause.

 

(a)        Notwithstanding
anything in Section 1.3 to the contrary, if Employee’s employment is terminated by the Company without Cause, subject to
the execution and delivery to the Company of a general release and continued compliance with the Nondisclosure and Noncompetition
Agreement with the Company as described in Section 1(c) of the Letter Agreement, the Company will pay Employee an amount equal
to the LTI Bonus based upon the achievement of performance measures, as determined by the Committee, for each year of the Performance
Periods completed prior to the termination or if any year of the Performance Periods is not completed, assuming the matrix performance
factors were 1.0 for that year.

 

(b)        The amounts payable
under Section 1.4(a) shall be paid in a lump sum no later than the first regular payroll date following the date of termination,
subject to applicable tax withholding.

 

(c)        For purposes of
this Agreement, “termination of employment” shall be interpreted consistent with the term “separation from service”
within the meaning of Treas. Reg. §1.409A-1(h).

 

(d)        If Employee’s
employment is terminated by the Company without Cause on the date of a Change in Control, Employee shall be entitled to the amounts
under Section 1.5 in lieu of this Section 1.4. Upon payment to Employee of amounts under either Section 1.4 or Section 1.5, Employee
shall have no further rights to the payment of the LTI Bonus and in no case shall Employee be entitled to amounts under both Section
1.4 and Section 1.5.

 

1.5        Upon Change In
Control.

 

(a)        Notwithstanding
anything in Section 1.3 to the contrary, if a Change in Control shall occur while Employee is employed by the Company, the Company
shall pay Employee an amount equal to the LTI Bonus based upon the achievement of performance measures for the Performance Periods,
whether or not completed, as determined by the Committee.

 

(b)        The amounts payable
under Section 1.5(a) shall be paid in a lump sum no later than the first regular payroll date following the date of the Change
in Control, subject to applicable tax withholding.

 

    	2

    	 

    

 

(c)        The payments received
by Employee or to be received by Employee under Section 1.5(a) of this Agreement shall be subject to Section 2(e) of the Letter
Agreement to the extent constituting a “parachute payment” under Section 280G of the Code.

 

2.             Closed Window. Employee agrees
that at any time during the Performance Periods during which achievement of a stock price performance measure is being determined,
Employee shall be prohibited from trading in securities of the Company under the Company’s Policy
Regarding Buying and Selling Securities and such period of time shall be a closed window period as to Employee.

 

3.             Miscellaneous.

 

3.1        Letter Agreement
Provisions. This Agreement shall be subject to the provisions of the Letter Agreement relating to arbitration (Section 3),
successors (Section 5), and delay for specific employees (Section 7), each of which are incorporated into this Agreement.

 

3.2        Section 409A.
Notwithstanding the foregoing, it is the intention of the parties that this Agreement be exempt from
Code §409A to the greatest extent possible. Accordingly, all provisions herein shall be construed and interpreted consistent
with that intent, but that, to the extent any payment constitutes nonqualified deferred compensation, the Company shall amend any
such provision pertaining to such payment to comply with Code §409A and the regulations thereunder, in the least restrictive
manner necessary without any diminution in the value of the payments to Employee.

 

3.3        Governing Law.
This Agreement shall be construed and enforced in accordance with the internal laws of the State of Minnesota, without regard to
conflicts of law provisions.

 

3.4        Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and enforceable against
the parties actually executing such counterpart, and all of which, when taken together, shall constitute one instrument.

 

IN WITNESS WHEREOF,
the parties have duly executed this Agreement as of the date and year first above written.

 

	COMPANY:	RIMAGE CORPORATION	 
	 	 	 	 
	 	 	 	 
	 	By: 	/s/  James R. Stewart	 
	 	Its: 	Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	EMPLOYEE:	/s/  Sherman L. Black	 
	 	Sherman L. Black	 

 

 

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