Document:

EX-4.15

 Exhibit 4.15 

Confidential Document 
  

THE SYMBOL “[Redacted]” DENOTES PLACES WHERE CERTAIN IDENTIFIED 

INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS 

BOTH (I) NOT MATERIAL, AND (II) IS THE TYPE THAT THE COMPANY 

TREATS AS PRIVATE OR CONFIDENTIAL 

Supplemental Agreement 

to Strategic Business Cooperation Agreement (2021) 
  

					
	Vipshop	  	Vipshop (China) Co., Ltd. (“Vipshop”)	  	
	SF	  	SF Express Co., Ltd. (“SF”)	  	

 (The above parties are collectively referred to as “Parties” and individually as a “Party”.) 

Whereas: 
  

	1.	 Vipshop and SF entered into a Strategic Business Cooperation Agreement (the “Original Agreement”)
on November 25, 2019, according to which the Parties agree to cooperate on Warehouse Services, JITX Services, Cross-border Business and Returned Goods Services. 

 

	2.	 Given the friendly cooperation between the Parties and through a friendly negotiation, the Parties agree to
extend the Cooperation Period of the Strategic Business Cooperation Agreement to December 31, 2023. 

  

	3.	 Based on the foregoing circumstances, the Parties require to enter into this supplemental agreement (the
“Supplemental Agreement”) based on the Strategic Business Cooperation Agreement in order to facilitate normal progress of the follow-up business of the Parties. 

In consideration of the foregoing, the Parties hereby agree as follows for the foregoing purposes. 

 

	 	1.	 Amendment to the Original Agreement: 

 

	(1)	 

  

	 	1	 Article 2.1 of the Article 2 “Services Order” of the Original Agreement is amended as follows:

 Vipshop agrees that it shall entrust SF (or Affiliates designated by SF) to provide Services under this Agreement.
Meanwhile, Vipshop confirms that, upon the execution of this Agreement, for the four major business scenarios (Warehouse Services, Cross-border Business, JITX Services, and Returned Goods Services, the “Four Major Business
Scenarios”) mentioned in the Original Agreement, SF shall be entrusted to provide express delivery services in priority to other parties 

  
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 Confidential Document 

 
 (except for the orders that the
Parties agree to assign to other third-party logistics service providers). SF (or Affiliates designated by SF) agrees to provide Services to Vipshop or its Affiliates in accordance with this Agreement. 

 

	 	2	 Article 2.3 is amened as follows: 

“Actual Order Quantity” refers to the quantity of Services which Vipshop or its Affiliates have placed orders to SF or its
Affiliates under this Agreement and related Services thereunder have been completed (that is, the successful delivery of Parcels to consignee or successful delivery of returned Parcels), excluding: parent-subsidiary parcels under one order shall be
counted into one order and the double shipment under one order due to abnormal delivery shall be counted into one order. 
  

	(2)	 Section (b) of the Annual review adjustment mechanism in Article 3.2 (1) of the Original Agreement is
amended as follows: 

  

	 	1	 Adjustment based on business structure. Calculate the proportion of Vipshop Warehouse’s outbound orders
for the year of 2021. If such figure is lower than [Redacted]%, then the basic service fee shall be calculated according to the corresponding price of the ratio listed below in the Outbound Ratio Adjustment Mechanism for the Year of 2021.
Specifically, the proportion of Vipshop Warehouse’s outbound orders = the quantity of outbound orders of Vipshop Warehouse for the Cooperation Year / ([Redacted] million orders – the quantity of orders of Returned Goods Services for such
Cooperation Year); outbound orders of returned goods warehouse shall be calculated into the quantity of Vipshop Warehouse’s outbound orders. 

  

	 	2	 Adjustment based on business structure. Calculate the proportion of Vipshop Warehouse’s outbound orders
for each of the years of 2022 and 2023. If such figure is lower than 32%, then the basic service fee shall be calculated according to the corresponding price of the ratio listed below in the Outbound Ratio Adjustment Mechanism for the Years of 2022
and 2023. Specifically, the proportion of Vipshop Warehouse’s outbound orders = the quantity of outbound orders of Vipshop Warehouse for such Cooperation Year / the quantity of all outbound orders of Vipshop for such Cooperation Year; outbound
orders of returned goods warehouse shall be calculated into quantity of Vipshop Warehouse’s outbound orders. 

 Annex 4 of the
Original Agreement is amended as follows: 
 For the cooperation of the Parties during the year of 2021, the outbound ratio adjustment mechanism shall be
executed in according to the following “Outbound Ratio Adjustment Mechanism for the Year of 2021”: 

  
 2 

 Confidential Document 

 
  

			
	Proportion of Vipshop Warehouse’ Outbound Orders against all Vipshop’s Outbound Orders	  	 Final price

(RMB / order)

	 40% ≤ figure < 45%
	  	[Redacted]
	 45% ≤ figure < 50%
	  	[Redacted]
	 50% ≤ figure < 55%
	  	[Redacted]
	 55% ≤ figure
	  	[Redacted]

 For the cooperation of the Parties during the years of 2022 and 2023, the outbound ratio adjustment mechanism shall be
executed in according to the following “Outbound Ratio Adjustment Mechanism for the Years of 2022 and 2023”: 
  

			
	Proportion of Vipshop Warehouse’ Outbound Orders against all Vipshop’s Outbound Orders	  	 Final price

(RMB / order)

	 figure <24%
	  	[Redacted]
	 24%≤ figure <26%
	  	[Redacted]
	 26%≤ figure <28%
	  	[Redacted]
	 28%≤ figure <30%
	  	[Redacted]
	 30%≤ figure <32%
	  	[Redacted]
	 32%≤ figure
	  	[Redacted]

  

	 	3	 Section (a) of Article 3.2 (2) Special Adjustment Mechanism of the Original Agreement is terminated.

  

	(3)	 Article 4 “Target Order Quantity” of the Original Agreement is amended as: 

 

	 	1	 the quantity of the Four Major Business Scenarios shall be agreed by the Parties, (except for the orders that
the Parties agree to assign to other third-party logistics service providers). The “Annual Orders Forecast” in the Annex 2 of the Original Agreement shall be terminated once this Supplemental Agreement becomes effective.

  

	 	2	 Based on the cooperation between the Parties, Vipshop shall make effort to control the proportion of its
inbound orders within the Cooperation Period under [Redacted]%, i.e. the “Annual quantity of inbound orders < (Annual quantity of outbound orders * [Redacted]%)”. 

 

	(4)	 Article 8.1 and 8.2 of the Original Agreement is amended as follows: 

 

	 	1	 The term of this Agreement shall end on December 31, 2023. 

 

	 	2	 If the Parties intend to renew this Agreement upon expiration of the Term of Agreement within six
(6) months prior to end of the Term of Agreement, they should negotiate about the renewal and may renew this Agreement pursuant to their 

  
 3 

 Confidential Document 

 
 negotiation; however, the Parties
shall continue to perform their respective obligations in accordance with the original terms of this Agreement during the negotiation of renewal. 

For the purpose of this Agreement, each period of January 1, 2022 to December 31, 2022 and January 1, 2023 to December 31,
2023 shall be a respective “Cooperation Year”. 
  

	 	3.	 Miscellaneous 

  

	(1)	 For the avoidance of doubt, during the Cooperation Year of 2021, 2022 and 2023, the orders that Vipshop
entrusts SF to provide Services for the Four Major Business Scenarios under the Original Agreement, shall all apply the basic service fee agreed in the Article 3.1 of the Original Agreement, i,e, RMB [Redacted]/order. Specifically, the basic service
fee of out-of-range JITX Services for the year of 2020 (RMB[Redacted]/order) agreed in the supplemental agreement 04 to the Original Agreement shall be invalid in the
Cooperation Year of 2021,2022 and 2023. Notwithstanding the above, the settlement price of Returned Package Services (RMB[Redacted]/order) shall still be effective. 

 

	(2)	 During the term of agreement, there exists the possibility of significant changes in the objective conditions
in connection with the cooperation of the Parties. In order to protect the interests of the Parties, the Parties agree that from July 1, 2022 to December 31, 2023, if any material change occurs due to the objective conditions or policies
(including without limitation, the alternation of fuel price, carbon neutrality and labor policies, etc.), and such material change has been evaluated and confirmed by SF that the material change has caused or will cause substantially increase of
the business cost of SF, then the Parties shall renegotiate the cooperation price. If the Parties are unable to reach a consensus since the date that SF proposes to renegotiate the cooperation price, each Party is entitled to terminate the
cooperation by sending a one-month prior notice to the other Party. 

  

	(3)	 This Supplemental Agreement is a supplemental agreement to the Original Agreement. In the event of any
discrepancy between this Supplemental Agreement and the Original Agreement, this Supplemental Agreement shall prevail. The Parties shall continue to strictly perform their respective obligations in accordance with other articles and terms of the
Original Agreement. 

  

	(4)	 Upon execution of this Supplemental Agreement, except as otherwise agreed in this Supplemental Agreement, all
other supplemental agreements (as listed in the Appendix I) executed by the Parties shall remain effective, the terms of these supplemental agreements shall be consistent with this Supplemental Agreement. 

 

	(5)	 This Supplemental Agreement shall be signed in four counterparts, with each Party holding two copies.

  
 4 

  

Signature Page (1) to the Supplemental Agreement 

Vipshop (China) Co., Ltd. (Seal) 
  

			
	Signature of Legal Representative or Authorized Representative	 	/s/ SHEN Ya                             
		 	SHEN Ya

  

Signature Page (2) to the Supplemental Agreement 

SF Express Co., Ltd. (Seal) 
  

			
	Signature of Legal Representative or Authorized Representative	 	/s/ WANG Wei                     
		 	WANG WeiDocument

        

Personal and Confidential                                EX-10.1

January 7, 2021

Dear Melissa,

We are pleased to offer you the position of Senior Vice President and Chief Human Resources Officer for IDEX Corporation (IDEX or the Company), based in Northbrook, Illinois, and reporting directly to me. The following terms apply to this offer:

						
		
	•
	Your appointment is effective on February 1, 2021.

						
		
	•
	Your annual base salary will be Three Hundred Seventy-Five Thousand Dollars and Zero Cents ($375,000.00), payable on a biweekly basis. You will be eligible for a review of your salary with consideration for an increase in March 2022. While we hope that you have a long and mutually beneficial relationship, your employment is considered "at will" and will not be for any fixed term or definite period and may be terminated by you or IDEX at any time.

						
		
	•
	As of the effective date of this promotion, February 1, 2021, you will remain eligible for participation in our Management Incentive Compensation Plan (MICP), as established each fiscal year, which provides annual incentive earnings opportunity based on business unit and personal performance. Your MICP target level of incentive compensation will be sixty percent (60%) of your annual base pay in effect at the beginning of the plan year. The actual pay-out under the plan could be more or less than the target level and will depend on IDEX’s performance and your performance. Attached is a copy of the current MICP Compensation Programs Booklet.

						
		
	•
	You will be eligible to receive a Company car allowance of One Thousand Five Hundred Dollars and Zero Cents ($1,500.00) per month, paid on a bi-weekly basis.

						
		
	•
	You will be eligible for the full range of benefits, including: the IDEX Defined Contribution Retirement Plan, the IDEX 401(k) Savings Plan, medical and dental coverage, short-term and long-term disability coverage, and life insurance. Summaries of these benefit plans are attached.

						
		
	•
	You will be eligible to participate in the Executive Medical Physical Program. IDEX has partnered with the Center for Partnership Medicine at Northwestern Memorial Hospital to provide you with the opportunity to have a full medical examination on an annual basis. The cost of the examination will be paid by IDEX.

						
		
	•
	You will be eligible to enroll in the Executive Long-Term Disability program, which provides additional income in the case of total and permanent disability. This program is fully paid by IDEX. You will be issued an individual policy that provides several additional benefits above and beyond the Group LTD plan that is in place for employees.

						
		
	•
	Based upon your position, you remain eligible to participate in the IDEX Corporation Supplemental Executive Retirement and Deferred Compensation Plan. The purpose of the plan is to provide non-qualified retirement compensation benefits above IRS limits and to provide participants with the ability to defer other amounts of compensation. You will now be eligible for the Supplemental Retirement Contribution portion of the SERP.

						
		
	•	Subject to approval from our Board of Directors, you will be eligible for equity grants beginning with the 2021 program cycle in the form of a combination of performance stock units and stock options under the IDEX Incentive Award Plan (lAP) at our annual grant as established each fiscal year. The grant value for your position is currently targeted at Three Hundred Twenty-Five Thousand Dollars ($325,000). Your actual award in any year is dependent upon current program design and your performance.  This plan is designed to provide an incentive and reward to key employees who are in a position to make substantial contributions to the success of IDEX.

						
		
	•	The initial price at which the option awards are granted will be the closing price of IDEX common stock on the grant date. Your options may be exercised after they become vested, and for a period of up to ten years from the date they were awarded. Currently, options vest at the rate of 25% per year.

						
		
	•	In the event of a "Change in Control", as defined in the Amended and Restated IDEX Corporation Supplemental Executive Retirement Plan, that results in your termination from service within twenty-four (24) months of the Change in Control, the Company shall be obligated to pay your base salary at the rate then in effect and your then current target annual bonus (MICP or equivalent pay) for a minimum of twenty-four (24) months following the date of termination (for a total payment of two (2) times both base salary and target annual bonus). This payment shall not be applicable in the event of your voluntary termination.

						
		
	•	If, in the future, your employment with IDEX is terminated without cause ("cause" defined as willful misconduct or fraudulent behavior), IDEX will pay you twelve (12) months base salary at the then current monthly base rate plus your targeted annual incentive bonus in exchange for you signing, and not revoking, an IDEX-standard Severance & General Release Agreement.  These payments are subject to tax withholdings and deductions. Such benefit will not be applicable in the event of your voluntary termination.

IDEX does require agreement to a Confidential Information, Work Product and Restrictive Covenant Agreement. Please sign and return the signed copy, keeping a second copy for your file.

Please indicate your acceptance of this offer by signing on the line provided below and return a signed copy to me.

Melissa, we have discussed the importance of this role to IDEX. We are confident that your leadership skills and experience can make a significant contribution to the continued success of IDEX, and that this position will be a positive professional step for you.

Sincerely,

/s/ Eric D. Ashleman
Eric D. Ashleman
Chief Executive Officer and President

***************************************************************************************************************

									
	
			
	/s/ Melissa S. Flores	 	January 8, 2021
	Acceptance of Employment Offer	 	Date
	Melissa S. Flores	 	 

Attachments:
						
		
	•	Confidential Information, Work Product and Restrictive Covenant Agreement
	•	Benefit Highlights Brochure
	•	MICP Compensation Programs Booklet
	•	SERP Overview Booklet

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