Document:

atre_Exhibit_10_12

		
			Exhibit 10.12
		

		
			 
		

		
			ATRECA, INC.
		

		
			 
		

		
			PERFORMANCE BONUS PLAN
		

		
			 
		

		
			 
		

		
			Approved by the Compensation Committee of the Board of Directors: March 10, 2020
		

		
			 
		

		
			 
		

		
			PURPOSE
		

		
			 
		

		
			The Atreca, Inc. Performance Bonus Plan (the “Plan”) is designed to allow all eligible Atreca, Inc. (“Atreca” or “Company”) employees eligibility for a discretionary bonus based on the Company’s and the individual employee’s performance.  The primary purpose of the Plan is to create a standardized and transparent bonus plan to reward strong corporate and individual performance.
		

		
			 
		

		
			Typically, the Company will evaluate corporate and individual performance and pay discretionary bonuses, if any, on an annual basis.
		

		
			 
		

		
			PLAN YEAR
		

		
			 
		

		
			The “Plan Year” is the Company’s calendar year: January 1 through December 31.
		

		
			 
		

		
			ELIGIBILITY
		

		
			 
		

		
			All regular, full-time employees of the Company (and certain regular part-time employees), who have been notified in writing of their eligibility are considered eligible Plan Participants (“Plan Participants”).  Exempt and non-exempt employees are eligible to be Plan Participants.
		

		
			 
		

		
			In order to earn and receive payment of a bonus under the Plan, Plan Participants must be active employees of the Company on the date that bonuses are paid under the Plan. As explained below, the dates of bonus payments will be determined solely by the Company.
		

		
			 
		

		
			Plan Participants must be in good standing as defined solely by the Company in order to be eligible to receive the bonus under the Plan.
		

		
			 
		

		
			Eligible employees who join the Company after January 1 but before November 1 may be eligible to receive a prorated bonus for that Plan Year.  Employees who join the Company during this time period will be notified by the Company of their eligibility to participate in the Plan.  Employees who join the Company after November 1 will not be eligible to participate in the Plan for that Plan Year.  Any prorated bonus will correspond to the amount of time the Plan Participant was an active employee of the Company during that Plan Year.
		

		
			 
		

		
			Plan Participants on a Company-approved leave of absence may be eligible for a partial or prorated bonus in the Company’s discretion.
		

		
			 
		

		
			BONUS TARGETS
		

		
			 
		

		
			Each Plan Participant has a target bonus amount, expressed as a percentage of the Plan Participant’s Base Pay (as defined below) earned during the Plan Year, determined by a Plan Participant’s level at the
		

		
			
		

		
			

		 

		

			1

		

		

		
			 
		

		
			Company, among other factors (the “Bonus Target”).  The amount of a Plan Participant’s actual bonus will be determined as described below.
		

		
			 
		

		
			For purposes of the Plan, “Base Pay” means the actual base earnings of a Plan Participant for the Plan Year, excluding any bonuses, commissions, reimbursements, fringe benefits, and any other compensation that is not part of a Plan Participant’s base salary/hourly wage.  Base Pay will be determined before any deductions for taxes or benefits and deferrals of compensation pursuant to any Company-sponsored plan.
		

		
			 
		

		
			BONUS WEIGHTING
		

		
			 
		

		
			Each Plan Participant’s bonus amount will be determined based on the applicable weighting between corporate and individual performance, based on a Plan Participant’s level at the Company, as follows:
		

		
			 
		

			
					
						Level

					
					
						    

					
					
						Weighting
(corporate performance/individual performance)
(%)

				
	
					
						Chief Executive Officer (“CEO”)

					
					
						 

					
					
						100% corporate performance/0% individual performance

					
						 

				
	
					
						Vice President and above

					
					
						 

					
					
						75% corporate performance/25% individual performance

					
						 

				
	
					
						Below Vice President

					
					
						 

					
					
						50% corporate performance/50% individual performance

				

		
			 
		

		
			DETERMINATION OF BONUS AMOUNTS
		

		
			The exact amount of a Plan Participant’s actual bonus (if any) will be determined by the Company’s Board of Directors (the “Board”), the Compensation Committee of the Board (the “Compensation Committee”), the CEO, and/or other members of the Company’s management, as applicable and in its/their discretion, and will be based on a variety of factors deemed relevant including:
		

		
			     The Company’s performance, including without limitation, achievement of its annual corporate performance objectives and results; and
		

		
			 
		

		
			     The Plan Participant’s performance, including without limitation, achievement of his or her annual individual performance objectives and results.
		

		
			 
		

		
			Shortly after the end of the Plan Year, the Board and the Company’s management will evaluate the Company’s achievement of its annual corporate performance objectives and results and determine the total pool for all bonuses.  Shortly thereafter, each Plan Participant’s manager, in consultation with the Compensation Committee, the CEO, and/or other members of the Company’s management, as applicable, and Human Resources, will evaluate each Plan Participant’s annual individual performance, including without limitation, achievement of his or her annual individual performance objectives and results, performance of his or her general job duties and responsibilities, and qualitative factors related to his or her individual performance and the Company’s values, among other factors.
		

		
			All bonus amounts (if any) will be subject to upward or downward adjustment by, and approval of, the Board, the Compensation Committee, the CEO, or other members of the Company’s management, as applicable.
		

		
			No bonuses or bonus amounts are guaranteed for any Plan Participants for any Plan Year.
		

		
			
		

		
			

		 

		

			2

		

		

		
			 
		

		
			BONUS PAYMENTS
		

		
			 
		

		
			Plan Participants may earn and be paid a bonus following the close of the Plan Year, and in any event bonuses (if any) will be paid no later than March 15 of the following year.  The exact dates of bonus payments, if any, will be determined by the Company, in its sole discretion.
		

		
			 
		

		
			Bonus approval decisions and bonus payment amounts will be final and binding.  The Plan Participant must be an active employee on the date of payment in order for bonus amount to be earned.
		

		
			 
		

		
			For the avoidance of doubt, it is intended that the Plan satisfy the exemption from the application of Section 409A of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations and other guidance issued thereunder and any state law of similar effect provided under Section 1.409A-1(b)(4) of the Treasury Regulations as “short term deferrals,” and the Plan shall be administered and interpreted to the greatest extent possible in compliance with such intent.  All bonus payments earned under the Plan will be made net of all applicable taxes and withholdings.
		

		
			 
		

		
			MISCELLANEOUS
		

		
			 
		

		
			Participation in this Plan is not an agreement (express or implied) between the Plan Participant and the Company that the Company will employ the Plan Participant for any specific period of time, nor does it contemplate any agreement for continuing or long-term employment.  Except as may otherwise be specified in a Plan Participant’s individual employment agreement, the Plan Participant and the Company each have the right to terminate the employment relationship at any time, with or without cause and with or without advance notice.  This at-will employment relationship can only be modified by an agreement signed by the Plan Participant and the CEO.
		

		
			 
		

		
			No Plan Participant shall attempt to earn a bonus by engaging in any conduct which violates any anti-trust laws, other laws, or the Company’s ethical standards, policies, or practices.  A Plan Participant shall not pay, offer to pay, assign or give any part of his or her bonuses, compensation, or anything else of value to any agent, customer, supplier or representative of any customer or supplier, or to any other person, as an inducement or reward for direct or indirect assistance in earning a bonus.  Any violation of this Plan, or the Company’s ethical standards, policies, or practices, will mean that a Plan Participant is not employed in good standing, and could subject the employee to disciplinary action up to and including termination of employment, in addition to revocation of any bonus under this Plan to which the employee otherwise would be entitled.
		

		
			 
		

		
			This document highlights the principal features of the Plan, but it does not describe every situation that can occur.  The Company and the Board retain the right to interpret, revise, modify or terminate the Plan at its sole discretion at any time.  Furthermore, the Company reserves the right to make any reasonable adjustments to the Plan without advance notice to Plan Participants, including but not limited to project assignments, level and/or salary changes affecting Bonus Targets, the ability to award bonus payments beyond Bonus Targets for exceptional performance, or as otherwise necessary to reflect business and economic conditions.  The Company further retains full and final discretion to determine whether a Plan Participant has earned any bonus pursuant to the Plan.  All such determinations will be final and binding.
		

		
			 
		

		
			Except as otherwise determined in writing by the CEO or the Board, as applicable, this document replaces and supersedes any previous performance bonus plans and any written or verbal representations regarding annual performance bonuses, including any provisions stated in the Plan Participant’s offer letter or employment agreement specifying eligibility, amount, and participation in any incentive or bonus program which are inconsistent with this Plan.  Participation in the Plan during the Plan Year will not convey any entitlement to participate in this or future plans or to the same or similar bonus benefits or opportunities.
		

		 

		

			3Exhibit 4.2

 

Description of Registrant’s Securities
Registered

Pursuant to Section 12 of the Exchange
Act of 1934

 

The following description
of the common stock of Hanger, Inc. (the “Company,” “we,” “us” or “our”) summarizes
general terms and provisions that apply to our common stock. Because this is only a summary it does not contain all of the information
that may be important to the stockholders of the Company. The summary is subject to and qualified in its entirety by reference
to our Restated Certificate of Incorporation (the “Certificate of Incorporation”) and our Amended and Restated By-Laws
(the “By-Laws”), which are filed as exhibits to the Annual Report on Form 10-K for the year ended December 31, 2019.

 

General

 

We are authorized
to issue up to 60 million shares of common stock, par value $0.01 per share. As of February 29, 2020, there were 37,429,065
shares of common stock outstanding. Subject to the limitations described below and the prior rights of any outstanding
preferred stock, our common stock is entitled to dividends when and as declared by our board of directors out of funds
legally available therefor. Holders of our common stock are entitled to one vote per share on all matters to be voted upon by
our stockholders. If a quorum is present at any meeting, the affirmative vote of the majority of the shares represented at
the meeting and entitled to vote on the subject matter shall be the act of our stockholders on any matter other than the
election of directors. When a quorum is present at any meeting, any election by our stockholders of persons to the board of
directors shall be determined by a plurality of the votes cast by the stockholders entitled to vote on the election. There is
no provision for cumulative voting or preemptive rights. The holders of common stock are entitled to share pro rata in the
distribution of our assets available for such purpose in the event of liquidation. The dividend and liquidation rights of the
common stock are subject to the prior rights of the holders of any outstanding series of our preferred stock, par value $0.01
per share, of which 10,000,000 shares are authorized. The outstanding shares of common stock are fully paid and
nonassessable.

 

We are subject to
Section 203 of the Delaware General Corporation Law (the “DGCL”) regarding business combinations with interested stockholders.

 

Our common stock is
listed on the New York Stock Exchange under the symbol “HNGR.” The transfer agent and registrar for our common stock
is Computershare.

 

Dividends

 

The holders of our
common stock shall be entitled to receive dividends or other distributions in cash, stock or property of our Company as are declared
from time to time on the shares of the common stock at the discretion of the board of directors. No dividends or distributions
may be declared or paid or made on, or acquisitions made of, any common stock unless dividends on all outstanding preferred stock
for all past quarterly dividend periods have been declared and paid in full.

 

The Company has not
paid dividends on its common stock, and the board of directors has indicated its intention to continue this practice for the foreseeable
future.

 

Indemnification of Officers and Directors

 

In the Certificate of Incorporation, we
have adopted the provisions of Section 102(b)(7) of the DGCL, which enables a corporation in its original certificate
of incorporation or an amendment thereto to eliminate or limit the personal liability of a director for monetary damages for breach
of the director’s fiduciary duty, except (i) for any breach of the director’s duty of loyalty to the corporation
or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation
of law, (iii) pursuant to Section 174 of the DGCL (providing for liability of directors for unlawful payment of dividends
or unlawful stock purchases or redemptions) or (iv) for any transaction from which a director will personally receive a benefit
in money, property or services to which the director is not legally entitled.

 

     

     

    

 

The
By-Laws also include provisions relating to indemnification.  Under these provisions, we will indemnify each person who was
or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether
civil, criminal, administrative or investigative (other than an action by or in the right of the Company), by reason of the fact
that such person is or was, or has agreed to become, a director or officer of the Company, or is, or was serving, or has agreed
to serve, at the request of the Company, as a director, officer, trustee, general partner, managing member, fiduciary, board of
directors’ committee member, employee or agent of, or in a similar capacity with, another corporation, limited liability
company, partnership, joint venture, trust, employee benefit plan or other enterprise (each, an “Indemnitee”), or
by reason of any action alleged to have been taken or omitted in such capacity, against all expenses (including attorneys’
fees), liabilities, losses, judgments, fines, excise taxes and penalties arising under the Employee Retirement Income Security
Act of 1974, as amended, and amounts paid in settlement actually and reasonably incurred by or on behalf of an Indemnitee in connection
with such action, suit or proceeding and any appeal therefrom, if the Indemnitee acted in good faith and in a manner that the
Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company, and, with respect to any criminal
action or proceeding, had no reasonable cause to believe his or her conduct was unlawful.  Except in certain circumstances
specified in the By-Laws, we will not indemnify an Indemnitee seeking indemnification in connection with a proceeding (or part
thereof) initiated by the Indemnitee unless the initiation thereof was approved by our board of directors.

 

We will also indemnify any Indemnitee
who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the
right of the Company to procure a judgment in its favor by reason of the fact that an Indemnitee is or was, or has agreed to become,
a director or officer of the Company, or is or was serving, or has agreed to serve, at the request of the Company, as a director,
officer, trustee, general partner, managing member, fiduciary, board of directors’ committee member, employee or agent of,
or in a similar capacity with, another corporation, limited liability company, partnership, joint venture, trust, employee benefit
plan or other enterprise, or by reason of any action alleged to have been taken or omitted in such capacity, against all expenses
(including attorneys’ fees) actually and reasonably incurred by or on behalf of the Indemnitee in connection with such action,
suit or proceeding and any appeal therefrom, if the Indemnitee acted in good faith and in a manner that the Indemnitee reasonably
believed to be in, or not opposed to, the best interests of the Company, except that no indemnification will be made in respect
of any claim, issue or matter as to which the Indemnitee shall have been adjudged to be liable to the Company, unless, and only
to the extent, that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought determines
upon application that, despite the adjudication of such liability but in view of all the circumstances of the case, the Indemnitee
is fairly and reasonably entitled to indemnity for such expenses (including attorneys’ fees) which the Court of Chancery
of State of Delaware or such other court deems proper.

 

To the extent that an Indemnitee has been
successful, on the merits or otherwise, in defense of any action, suit, investigation or proceeding referred to above, or in defense
of any claim, issue or matter therein, or on appeal from any such action, suit, investigation or proceeding, the Indemnitee will
be indemnified against all expenses (including attorneys’ fees) actually and reasonably incurred by or on behalf of the
Indemnitee in connection therewith.

 

The By-Laws also specify procedures to
be followed in connection with any claim for indemnification and provide for the advancement of certain expenses in specified
circumstances.

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