Document:

health_pharmarcy.htm

    
      Exhibit
10.8

       

       ARTICLE
ONE

       

      SCOPE
OF AGREEMENT

       

      The
purpose of this Agreement is to facilitate the business, scope and financial
relationship
by and between HCA and SOUTHWOOD, to restrict the confidentiality of
information
to the Parties and their necessary agents, to prevent circumvention of any of
the
Parties to protect all the Parties' interests and contemplated expectations, and
to establish
a revenue pool to be divided among HCA and SOUTHWOOD and their designees
in the manner set forth herein.

       

      ARTICLE
TWO

       

      TERMS
OF ARRANGEMENT

       

      
      

      
        	
                2.1

              	HCA's
      wholly owned subsidiary, PCA, will be the administrator of all the Pharmacy
      Programs covered under this
Agreement.

      

      
      

       

      
        	 	SOUTHWOOD
      will be a participating Pharmacy in PCA's Pharmacy Programs and
      will be responsible for dispensing medications and the pharmacy management
      of
      these programs.

      

       

      
        	2.2	HCA hereby agrees to
      submit all of its contract clients to
PCA.

      

       

      
        	
                2.3

              	
                PCA
      hereby agrees to perform its services and fulfill its responsibilities as
      outlined
      in this Agreement. SOUTHWOOD hereby agrees to perform its services and
      fulfill their responsibilities, as outlined in this
      Agreement.

              

      

       

      
      

      
        	 	The Gross Margin and
      rebates of HCA contract clients will be divided 40% to HCA and 60% to
      SOUTHWOOD.

      

       

      
      

      
        
          	 	Note:

        

         

      

      
        
          	 	Dispensed medication
      will be delivered to contract clients patients (i.e., Boards of Education,
      Home Care Agencies, Nursing Homes, Assisted Living Home, etc. or
      to
      individual homes) as part of operating
expense.

        

        
        

         

        
          	 	SOUTHWOOD
      will bill third parties, Pharmacy Benefit Managers (i.e., Medco,
      Caremark),
      and direct bill non-third parties.

        

         

      

      
        	2.4	The Parties must
      mutually agree to all initial and new expenses before they are implemented.

      

       

      
      

       

      BCAISOUTHWOOD June 2009

       

      
      

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

       

       

      ARTICLE
THREE

       

      TERMINATION
OF AGREEMENT

       

      
        	
                3.1

              	
                This
      Agreement shall commence on the Effective Date, and shall continue enforce
      unless
      the PCA facility is
operational.

              

      

       

      
      

      
        	
                3.2.1

              	
                Any
      Party may terminate their participation in this Agreement immediately,
      upon written
      notice to the other Party,

              

      

       

      
      

      
        	
                3.3

              	
                
                  Upon
      the completion ofHCA's own facility (Closed Door Pharmacy), Southwood
      will
      transfer all patients to HCA and this agreement will be
      terminated.

                

              

      

       

      
      

       

      ARTICLE
FOUR

       

      NOTICES

       

      
        	
                4.1

              	
                Unless
      otherwise provided in this Agreement, all notices required hereunder,
      including,
      without limitation, notice of intent to terminate this Agreement, shall
      be
      in writing and shall either be delivered in person or sent by (i)
      certified mail, return
      receipt requested, or (ii) overnight delivery by a nationally recognized
      overnight
      courier service, to the applicable business address of each party as set
      forth
      below:

              

      

       

      to HCA
at:

      
      

       

      
        	Healthcare
      Corporation of America
	36
      Kevin Drive, Suite 100
	Flanders,
      New Jersey 07836

      

       

      Attention:
Gary J. Sekulski

       

      
        	To
      SOUTHWOOD Pharmacy at:
	15
      Route 516 West
	Old
      Bridge, New Jersey 08857

      

       

      Attention:

      
      

       

      
        	
                All
      notices shall be effective upon receipt by the notified party. Each party
      may change
      its respective address for the purpose of receiving notices under
      this Agreement
      by giving written notice to the other
party.

              

      

       

      ARTICLE
FIVE

       

      MISCELLANEOUS

       

       

       

       

      HeA/SOUTHWOOD
June 2009

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      

      
        	
                5.1

              	
                Governing Law and
      Jurisdiction. This Agreement shall be governed by and construed
      in accordance with the laws of the State of New Jersey applicable to contracts
      entered into therein, without reference to principles of choice of law or
      conflicts
      of laws.

              

      

      
      

      
      

      
      

       

      
        	
                5.2

              	
                Entire
      Agreement. The provisions, terms and conditions of this Agreement
      represent
      the entire agreement between the parties in relation to the subject matter
      hereof,
      and this Agreement supersedes any other agreement, understanding or representation,
      verbal or otherwise, relative to the subject matter hereof, between the
      parties prior to the time of execution of this Agreement. This Agreement
      shall be
      binding upon the heirs, executors, administrators, successors, permitted
      assigns or
      transferees of each Party and its shareholders, if any. This Agreement may
      be amended
      only by a written instrument executed by all of the
      Parties.

              

      

       

      
      

      
      

      
      

      
      

      
      

      
      

      
      

      
        	
                5.3

              	
                IN
      WITNESS WHEREOF, the Parties have executed this Agreement as of
      the date first written
above.

              

      

       

      
      

      
        
        

         

        
          
            	 	 	 	 	 
	
                    /s/Gary
      Sekulski

                  	 	 	
                    /s/
      Nitin Khandwala

                  	 
	
                    Name:
      Gary Sekulski

                  	 	 	
                    Name:
      Nitin Khandwala 

                  	 
	
                    Title:
      Cheif Executive Officer

                  	 	 	
                    Title:  
      Manager

                  	 

          

        

     

    3EX-10.1

RAIT FINANCIAL TRUST

2008 INCENTIVE AWARD PLAN

UNIT AWARD AGREEMENT

This UNIT AWARD AGREEMENT, dated as of January 26, 2010 (the “Date of Grant”), is delivered by
RAIT Financial Trust (“RAIT”), to [Name of Participant] (the “Participant”).

RECITALS

A. The RAIT Financial Trust 2008 Incentive Award Plan (the “Plan”) provides for the grant of
phantom units (“Units”), which represent the right to receive one or more common shares of
beneficial interest, par value $0.01, of RAIT (“Common Shares”), on a future redemption date.

B. The Compensation Committee of the Board of Trustees of RAIT (the “Committee”) has decided
to make a restricted Unit grant, subject to the terms and conditions set forth in this Unit Award
Agreement (the “Agreement”) and the Plan, as an inducement for the Participant to promote the best
interests of RAIT and its shareholders. The Participant may receive a copy of the Plan by
contacting Jack E. Salmon, Chief Financial Officer and Treasurer, at (215) 243-9032.

NOW, THEREFORE, the parties to this Agreement, intending to be legally bound hereby, agree as
follows:

1. Grant of Units. Subject to the terms and conditions set forth in this
Agreement and the Plan, RAIT hereby grants to the Participant [Number of Units]Units (the
“Restricted Units”). The Restricted Units will become vested in accordance with Paragraph 3 below
and will be redeemed in accordance with Paragraph 4 below.

2. Accounts. RAIT shall establish and maintain a Restricted Unit account (the
“Restricted Unit Account”) as a bookkeeping account on its records for the Participant and shall
record in such Restricted Unit Account the number of Restricted Units granted to the Participant.
RAIT shall also establish and maintain a dividend equivalent account (the “Dividend Equivalent
Account”) as a bookkeeping account on its records for the Participant and shall credit to such
Dividend Equivalent Account the value of dividend equivalents credited on the Participant’s
Restricted Units pursuant to Paragraph 6(b) below. The Participant shall not have any interest in
any fund or specific assets of RAIT by reason of this grant or the Restricted Unit Account or
Dividend Equivalent Account established for the Participant.

3. Vesting.

(a) The Participant will become vested in the Restricted Units awarded pursuant to this grant
according to the following vesting schedule, provided the Participant does not incur a termination
of employment or service with the Company (as defined in the Plan) prior to the applicable vesting
date (the “Vesting Date”):

	 	 	 	 	 
	 	 	Percentage of
	Vesting Date	 	Restricted Units Vesting
	Date of Grant

	 	 	50	%
	First anniversary of Date of Grant

	 	 	50	%

The vesting of the Restricted Units is cumulative, but shall not exceed 100% of the Restricted
Units subject to this Agreement. If the foregoing vesting schedule would produce fractional
Restricted Units, the number of Restricted Units that are vested shall be rounded down to the
nearest whole Restricted Unit. The Participant’s Restricted Units shall become fully vested if the
Participant is employed by, or providing service to, the Company on the first anniversary of the
Date of Grant.

(b) If the Participant’s employment or service with the Company terminates for any reason
prior to the Participant vesting in any of the Restricted Units as provided in subparagraph (a),
the Restricted Units that are not vested as of the Participant’s termination of employment or
service shall terminate and the Participant shall not have any redemption rights with respect to
any of such unvested Restricted Units.

4. Redemption. Unless an election is made pursuant to Paragraph 5 below, on the
earliest to occur of (i) the first anniversary of the applicable Vesting Date, or (ii) the date of
death of the Participant, (the “Redemption Date”), RAIT shall redeem:

(a) in the case of clause (i) above, all of the Restricted Units for which it is the first
anniversary of the applicable Vesting Date; or

(b) in the case of clause (ii) above, all of the vested Restricted Units;

(the “Redeemed Units”) as provided in Paragraph 3, then credited to the Participant’s Restricted
Unit Account as of such date. Within thirty (30) days following the Redemption Date, all Redeemed
Units will be converted to an equivalent number of Common Shares, and the Participant shall receive
a single sum distribution of such Common Shares, which shall be issued under the Plan.

5. Deferrals. A Participant may make a one-time irrevocable election to defer
the Redemption Date under Paragraph 4(a) of any of the Restricted Units to a later date, provided
that the election shall not take effect until at least twelve (12) months after the date on which
the election is made, the new Redemption Date cannot be earlier than five (5) years from the
original Redemption Date under Paragraph 4(a), and the election must be made no less than twelve
(12) months prior to the date of the Redemption Date under Paragraph 4(a). If a Redemption Date is
delayed pursuant to this Paragraph 5, the new Redemption Date under Paragraph 4(a) shall
hereinafter be referred to as the “Deferred Date”. Notwithstanding a Participant’s election, the
Redemption Date will be the date of the Participant’s death if such event occurs prior to the
Participant’s Deferred Date.

6. Dividend Equivalents.

(a) Vested Restricted Units. Until such time as the vested Restricted Units are
redeemed, if any cash dividends are declared with respect to the Common Shares, a cash payment will
be paid to the Participant equal to the value of the cash dividends that would have been
distributed if the vested Restricted Units credited to the Participant’s Restricted Unit Account at
the time of the record date of the dividend were Common Shares. The cash payment for such dividend
equivalents will be paid to the Participant at the same time that the cash dividends are paid to
RAIT’s shareholders holding Common Shares.

(b) Unvested Restricted Units. With respect to unvested Restricted Units, if any cash
dividends are declared with respect to the Common Shares, the Participant shall receive a credit to
the Participant’s Dividend Equivalent Account equal to the value of the cash dividends that would
have been distributed if the unvested Restricted Units credited to the Participant’s Restricted
Unit Account at the time of such record date of the relevant cash dividend were Common Shares.
Within thirty (30) days following the Vesting Date of any unvested Restricted Units, a cash payment
will be paid to the Participant by RAIT equal to the value of the aggregate amount of cash credited
to the Participant’s Dividend Equivalent Account for the corresponding unvested Restricted Units
that vested as of the Vesting Date. No interest shall accrue with respect to any cash amounts
credited to the Participant’s Dividend Equivalent Account. If any unvested Restricted Units
terminate for any reason prior to the Vesting Date, the aggregate amount credited to the Dividend
Equivalent Account with respect to such unvested Restricted Units shall terminate and the
Participant shall not have any rights with respect to any such amounts.

7. Change of Control. If a Change of Control (as defined in the Plan) occurs,
unless the Committee determines otherwise as provided under the terms of the Plan and in accordance
with the requirements of section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”), (i) all of the Participant’s then outstanding Restricted Units as of such date shall
continue to vest in accordance with their terms, (ii) all of the Participant’s outstanding Redeemed
Units as of such date shall be distributed to the Participant in accordance with the terms of
Paragraph 4 or 5, as applicable, and (iii) all dividend equivalents credited to the Participant’s
Dividend Equivalent Account, if any, as of such date shall be paid to the Participant in accordance
with Paragraph 6(b).

8. Acknowledgment by Participant. By executing this Agreement, the Participant
hereby acknowledges that with respect to any right to redemption or payment pursuant to this
Agreement, the Participant is and shall be an unsecured general creditor of RAIT without any
preference as against other unsecured general creditors of RAIT, and the Participant hereby
covenants for himself or herself, and anyone at any time claiming through or under the Participant
not to claim any such preference, and hereby disclaims and waives any such preference which may at
any time be at issue, to the fullest extent permitted by applicable law. The Participant also
hereby agrees to be bound by the terms and conditions of the Plan and this Agreement. The
Participant further agrees to be bound by the determinations and decisions of the Committee with
respect to this Agreement and the Plan and the Participant’s rights to benefits under this
Agreement and the Plan, and agrees that all such determinations and decisions of the Committee
shall be binding on the Participant, his or her beneficiaries and any other person having or
claiming an interest under this Agreement and the Plan on behalf of the Participant.

9. Restrictions on Issuance or Transfer of Common Shares.

(a) The obligation of RAIT to deliver Common Shares upon the redemption of the Restricted
Units shall be subject to the condition that if at any time the Committee shall determine in its
discretion that the listing, registration or qualification of the Common Shares upon any securities
exchange or under any state or federal law, or the consent or approval of any governmental
regulatory body is necessary or desirable as a condition of, or in connection with, the issuance of
Common Shares, the Common Shares may not be issued in whole or in part unless such listing,
registration, qualification, consent or approval shall have been effected or obtained free of any
conditions not acceptable to the Committee. The issuance of Common Shares and the payment of cash
to the Participant pursuant to this Agreement are subject to any applicable taxes and other laws or
regulations of the United States or of any state having jurisdiction thereof.

(b) The Participant agrees to be bound by RAIT’s policies regarding the transfer of the Common
Shares and understands that there may be certain times during the year in which the Participant
will be prohibited from selling, transferring, pledging, donating, assigning, mortgaging, or
encumbering Common Shares.

(c) As soon as reasonably practicable after the Redemption Date, or the Deferred Date, if
applicable, a certificate representing the Common Shares that are redeemed shall be issued to the
Participant.

10. Grant Subject to Plan Provisions. This grant is made pursuant to the Plan,
the terms of which are incorporated herein by reference, and in all respects shall be interpreted
in accordance with the Plan. In the event of any contradiction, distinction or difference between
this Agreement and the terms of the Plan, the terms of the Plan will control. Except as otherwise
defined in this Agreement, capitalized terms used in this Agreement shall have the meanings set
forth in the Plan. This grant is subject to the interpretations, regulations and determinations
concerning the Plan established from time to time by the Committee in accordance with the
provisions of the Plan, including, but not limited to, provisions pertaining to (i) rights and
obligations with respect to withholding taxes, (ii) the registration, qualification or listing of
the Common Shares, (iii) changes in capitalization of RAIT, and (iv) other requirements of
applicable law. The Committee shall have the authority to interpret and construe this grant
pursuant to the terms of the Plan, its decisions shall be conclusive as to any questions arising
hereunder and the Participant’s acceptance of this grant is the Participant’s agreement to be bound
by the interpretations and decisions of the Committee with respect to this grant and the Plan.

11. No Rights as Shareholder. The Participant shall not have any rights as a
shareholder of RAIT, including the right to any cash dividends (except as provided in Paragraph 6),
or the right to vote, with respect to any Restricted Units.

12. No Rights to Continued Employment or Service. This grant shall not confer
upon the Participant any right to be retained in the employment or service of the Company and shall
not interfere in any way with the right of the Company to terminate the Participant’s employment or
service at any time. The right of the Company to terminate at will the Participant’s employment or
service at any time for any reason is specifically reserved.

13. Assignment and Transfers. No Restricted Units or dividend equivalents
awarded to the Participant under this Agreement may be transferred, assigned, pledged, or
encumbered by the Participant and a Restricted Unit shall be redeemed and a dividend equivalent
paid during the lifetime of the Participant only for the benefit of the Participant. Any attempt
to transfer, assign, pledge, or encumber the Restricted Unit or dividend equivalent by the
Participant shall be null, void and without effect. The rights and protections of RAIT hereunder
shall extend to any successors or assigns of RAIT. This Agreement may be assigned by RAIT without
the Participant’s consent.

14. Withholding. The Participant shall be required to pay to the Company, or
make other arrangements satisfactory to the Company to provide for the payment of, any federal,
state, local or other taxes that the Company is required to withhold with respect to the grant,
vesting or redemption of the Restricted Units and payment of dividend equivalents. Subject to
Committee approval, the Participant may elect to satisfy any tax withholding obligation of the
Company with respect to the Restricted Units by having Common Shares withheld up to an amount that
does not exceed the minimum applicable withholding tax rate for federal (including FICA), state,
local and other tax liabilities.

15. Effect on Other Benefits. The value of Common Shares and dividend
equivalents distributed with respect to the Restricted Units shall not be considered eligible
earnings for purposes of any other plans maintained by the Company. Neither shall such value be
considered part of the Participant’s compensation for purposes of determining or calculating other
benefits that are based on compensation, such as life insurance.

16. Applicable Law. The validity, construction, interpretation and effect of
this Agreement shall be governed by and construed in accordance with the laws of the State of
Maryland, without giving effect to the conflicts of laws provisions thereof.

17. Notice. Any notice to RAIT provided for in this instrument shall be
addressed to RAIT in care of the Board of Trustees at the principal office of RAIT, and any notice
to the Participant shall be addressed to such Participant at the current address shown on the
payroll records of the Company, or to such other address as the Participant may designate to RAIT
in writing. Any notice shall be delivered by hand, sent by telecopy or enclosed in a properly
sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post
office regularly maintained by the United States Postal Service.

18. Section 409A of the Code. This Agreement is intended to comply with the
requirements of section 409A of the Code and shall in all respects be administered in accordance
with such requirements. Notwithstanding any provision in this Agreement to the contrary,
redemption and payment may only be made under this Agreement upon an event or in a manner permitted
by section 409A of the Code or an applicable exemption. Each redemption and payment under this
Agreement shall be treated as a separate redemption and payment for purposes of section 409A of the
Code. In no event may the Participant designate the calendar year of a redemption or payment.

[SIGNATURE PAGE FOLLOWS]

1

IN WITNESS WHEREOF, RAIT has caused its duly authorized officer to execute this Unit Award
Agreement, and the Participant has placed his or her signature hereon, effective as of the Date of
Grant.

RAIT FINANCIAL TRUST

By:

Name: Jack E. Salmon

Title: Chief Financial Officer and Treasurer

I hereby accept the award of Restricted Units and dividend equivalents described in this Agreement,
and I agree to be bound by the terms of this Agreement and the Plan. I hereby acknowledge and
agree that all of the decisions, interpretations and determinations of the Committee with respect
to the Restricted Units and dividend equivalents shall be final, binding and conclusive on me, my
beneficiaries and any other persons having or claiming an interest under this Agreement.

Date Participant

EXHIBIT A

SUBSEQUENT DEFERRAL ELECTION FORM

PART A. TIME OF REDEMPTION

I,       , (the “Participant”) hereby irrevocably elect to have the following
Restricted Units (the “Deferred Units”) that were granted to me pursuant to the Unit Award
Agreement, dated as of              , 200      , (the “Agreement”) under the RAIT Financial
Trust 2008 Incentive Award Plan (the “Plan”) that would have been redeemed by RAIT
Financial Trust (“RAIT”) on the redemption date (the “Redemption Date”) set forth
below instead be redeemed on the deferred date designated (the “Deferred Date”), which date
must be at least five (5) years later than the Redemption Date, and this election is at least
twelve (12) months prior to the Redemption Date (fully complete the table below designating the
Restricted Units to be deferred, since the Restricted Units are redeemed on different Redemption
Dates a separate row must be completed for each Redemption Date):

	 	 	 	 	 	 	 	 	 
	Number of Restricted	 	Original Redemption	 	Deferred Date
	Units to be Further	 	Date (Election Must Be	 	(Must be at least five
	Deferred (All	 	Made at Least 12	 	years later than the
	Restricted Units for a	 	Months Prior to the	 	Original Redemption Date)
	Particular Redemption	 	Redemption Date)	 	 	 	 
	Date Must Be Deferred)	 	 	 	 	 	 	 	 

PART B. ACKNOWLEDGMENT

I understand and expressly agree that (i) the Deferred Date for the Deferred Units shall be the
date I specified in Part A above (which is a date that is at least five (5) years later than the
original Redemption Date), and (ii) I will not be entitled to receive redemption of the Deferred
Units on an earlier date, except in the event of my death. I also understand and expressly agree
that this deferral election is irrevocable, is being made at least twelve (12) months prior to the
original Redemption Date, and shall not take effect until twelve (12) months after the date on
which I make this election.

PARTICIPANT SIGNATURE

	 	 	 
	Participant:      

	 	Date:     
	Receipt Acknowledged:

	 	

	By:     

	 	

	Title:      

	 	Date:     

2

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