Document:

exh 09 13 incentive plan

FINAL 
Board Approved 12/1/11
(Technical Amendments
Adopted 3/19/12; 
Additional Amendments Adopted 5/18/12; 
Updated 11/15/12; 
Amended 5/29/13;
Amended 9/13/13,
Effective as of 12/1/11)
                                        

Federal Home Loan Bank of Indianapolis
Incentive Plan

(Effective as of January 1, 2012)
(As Amended March 19, 2012)
(As Further Amended May 18, 2012)
(As Updated November 15, 2012 to Reflect 2013 Performance Goals)
(Amended May 29, 2013)
(Amended September 13, 2013, Effective as of December 1, 2011)

ADOPTION OF
FEDERAL HOME LOAN BANK OF INDIANAPOLIS
INCENTIVE PLAN
Pursuant to resolutions adopted by the Board of Directors of the Federal Home Loan Bank of Indianapolis (the “Bank”), the undersigned officers of the Bank hereby execute the Federal Home Loan Bank of Indianapolis Incentive Plan, effective as of January 1, 2012, on behalf of the Bank, in the form attached hereto.
Dated this 29th13th, day of MaySeptember, 2013, to be effective as of December 1, 2011.
FEDERAL HOME LOAN BANK OF INDIANAPOLIS
By: /s/PAUL CLABUESCH
Paul Clabuesch, Chairman
By: /s/JEFFREY A. POXON
Jeffrey A. Poxon, Vice Chairman
ATTEST:
By: /s/KANIA D.WARBINGTON
Kania D. Warbington, Corporate Secretary

FEDERAL HOME LOAN BANK OF INDIANAPOLIS
INCENTIVE PLAN
TABLE OF CONTENTS
    
	
				
	 
	 
	PAGE

	Article I
	INTRODUCTION
	1
	

	 
	 
	 

	Section 1.1
	Purpose
	1
	

	Section 1.2
	Effective Date
	1
	

	Section 1.3
	Administration
	1
	

	Section 1.4
	Supplements
	1
	

	Section 1.5
	Definitions
	1
	

	 
	 
	 

	Article II
	ELIGIBILITY AND PARTICIPATION
	2
	

	 
	 
	 

	Section 2.1
	Eligibility
	2
	

	Section 2.2
	Participation
	2
	

	 
	 
	 

	Article III
	AWARDS AND EXTRAORDINARY OCCURENCE ADDITIONS/REDUCTIONS
	3
	

	 
	 
	 

	Section 3.1
	Awards
	3
	

	Section 3.2
	Performance Goals
	4
	

	Section 3.3
	Earning and Vesting of Awards for Level I Participants
	5
	

	Section 3.4
	Earning and Vesting of Awards for Level II Participants
	6
	

	Section 3.5
	Special Gap Year Awards for Level I Participants
	6
	

	Section 3.6
	Effect of Termination of Service and Amendment of Prior Long-Term Plans
	7
	

	Section 3.7
	Effect of Reorganization
	1011
	

	Section 3.8
	Payment of Awards
	1112
	

	Section 3.9
	Reduction or Forfeiture of Awards
	1112
	

	 
	 
	 

	Article IV
	ADMINISTRATION
	1113
	

	 
	 
	 

	Section 4.1
	Appointment of the Committee
	1113
	

	Section 4.2
	Powers and Responsibilities of the Committee
	1113
	

	Section 4.3
	Income and Employment Tax Withholding
	1214
	

	Section 4.4
	Plan Expenses
	1214
	

	 
	 
	 

	Article V
	BENEFIT CLAIMS
	1214
	

	 
	 
	 

	Article VI
	AMENDMENT AND TERMINATION OF THE PLAN
	1214
	

	 
	 
	 

	Section 6.1
	Amendment of the Plan
	1214
	

	Section 6.2
	Termination of the Plan
	1415
	

	
				
	 
	 
	PAGE

	Article VII
	MISCELLANEOUS
	1415
	

	 
	 
	 

	Section 7.1
	Governing Law
	1415
	

	Section 7.2
	Headings and Gender
	1415
	

	Section 7.3
	Spendthrift Clause
	1415
	

	Section 7.4
	Counterparts
	1415
	

	Section 7.5
	No Enlargement of Employment Rights
	1415
	

	Section 7.6
	Limitations on Liability
	1415
	

	Section 7.7
	Incapacity of Participant
	1416
	

	Section 7.8
	Evidence
	1516
	

	Section 7.9
	Action by Bank
	1516
	

	Section 7.10
	Severability
	1516
	

	Section 7.11
	Information to be Furnished by a Participant
	1516
	

	Section 7.12
	Attorneys' Fees
	1516
	

	Section 7.13
	Binding on Successors
	1516
	

	Section 7.14
	Retention of Former Plans
	1516
	

	 
	 
	 

	APPENDIX I - 2012 PERFORMANCE PERIOD AWARDS FOR LEVEL II PARTICIPANTS
	1619
	

	APPENDIX II - 2012 PERFORMANCE PERIOD AWARDS FOR LEVEL I PARTICIPANTS
	1922
	

	APPENDIX III - ANNUAL AWARD TARGETS FOR 2010 AND 2011 LONG TERM INCENTIVE PLANS
	2326
	

	APPENDIX IV - AWARDS ADDRESSING 2015 GAP YEAR FOR LEVEL I PARTICIPANTS
	2528
	

	APPENDIX V - FORM OF NON-SOLICITATION AND NON-DISCLOSURE AGREEMENT
	2630
	

ARTICLE I
INTRODUCTION
Section 1.1    Purpose. The purpose of the Federal Home Loan Bank of Indianapolis Incentive Plan (the “Plan”) is to attract, retain and motivate employees of the Federal Home Loan Bank of Indianapolis (the “Bank”) and to focus their efforts on continued improvement in the profitability of the Bank while maintaining the Bank's safety and soundness.  The Plan is a cash-based incentive plan that provides award opportunities based on achievement of performance goals.

Section 1.2    Effective Date.  The “Effective Date” of the Plan is January 1, 2012.

Section 1.3    Administration.  The Plan will be administered by an administrative committee (the “Committee”) appointed by the Bank's Board of Directors (the “Board”), which initially will be the Human Resources Committee of the Board.  Notwithstanding the foregoing, the term Committee shall also refer to the Executive Governance Committee of the Board who will administer the Plan with respect to the Bank's Chief Executive Officer.  The Committee, from time to time, may adopt any rules and procedures it deems necessary or desirable for the proper and efficient administration of the Plan that are consistent with the terms of the Plan.  Any notice or document required to be given or filed with the Committee will be properly given or filed if delivered to or mailed by registered mail, postage paid, to the General Counsel, Federal Home Loan Bank of Indianapolis, 8250 Woodfield Crossing Blvd., Suite 400, Indianapolis, Indiana 46240.

Section 1.4    Supplements.  The provisions of the Plan may be modified by supplements to the Plan with Board approval.  The terms and provisions of each supplement are a part of the Plan and supersede any other provisions of the Plan to the extent necessary to update or eliminate any inconsistencies between the supplement and any other Plan provisions.  Any substantive supplement to the Plan shall be submitted to the FHFA for non-objection after full review prior to implementation.

Section 1.5    Definitions.  The following terms are defined in the Plan in the following Sections:	
		
	Term
	Plan Sections

	2009 LTIP
	3.6(d)(v)

	2010 LTIP
	3.6(d)(v)

	2011 LTIP
	3.6(d)(v)

	Annual Award
	3.3(a), 3.4(a)

	Award
	3.1

	Bank
	1.1

	Board
	1.3

	Cause
	3.6(d)(i)

	Committee
	1.3

	Compensation
	3.1

	Deferral Performance Period
	3.1(a)

	Deferred Award
	3.3(b)

	Disability
	3.6(d)(ii)

	Discretionary Award
	3.1(d)

	Effective Date
	1.2

	 
	 

	 
	 

1

	
		
	Extraordinary Occurrences
	3.1(e)

	FHFA
	3.6(d)(i)

	Final Award
	3.1(e)

	Fully Meets Expectations
	3.3(a)(ii)

	Gap Year Award
	3.5(a)

	Gap Year Performance Period
	3.5(b)

	Good Reason
	3.6(d)(iii)

	Level I Participant
	3.1(c)

	Level II Participant
	3.1(c)

	Maximum
	3.2(b)(iii)

	Non-Solicitation Agreement
	2.1

	Participant
	2.1

	Performance Goals
	3.2

	Performance Period
	3.1(a)

	Plan
	1.1

	Position
	3.6(d)(iii)(A)

	Reduction in Force
	3.6(d)(iv)

	Reorganization
	3.7(b)

	Retirement
	3.6(d)(v)

	Satisfactory
	3.3(a)(ii)

	Termination of Service
	3.6(d)(vi)

	Target
	3.2(b)(ii)

	Threshold
	3.2(b)(i)

ARTICLE II

ELIGIBILITY AND PARTICIPATION

Section 2.1    Eligibility.  Any employee of the Bank, hired before October 1st of the calendar year, will become a “Participant” in the Plan for that calendar year, provided the employee is not classified as a “temporary,” an “intern,” “contract” or “temporary agency” employee, and does not participate in the Federal Home Loan Bank of Indianapolis Internal Audit Incentive Plan.  Level I Participants, as defined in subsection 3.1(c), must have an executed agreement on file with the Bank containing non-solicitation and non-disclosure provisions in a form similar to the form provided in Appendix V to the Plan (“Non-Solicitation Agreement”).

Section 2.2    Participation.  A designated employee or otherwise eligible employee will become a Participant as of the later of the Effective Date, the employee's date of hire, or the date on or after the Effective Date the employee satisfies the automatic eligibility provisions described in Section 2.1.  Any Participant may be removed as an active Participant by the Board effective as of any date.

2

ARTICLE III

AWARDS AND EXTRAORDINARY OCCURRENCE ADDITIONA/REDUCTIONS

Section 3.1    Awards.  At the beginning of each Performance Period, the Board will make an “Award” to eligible Participants.  As described in this Article, Awards may be Annual Awards (as defined in subsection 3.3(a)), Deferred Awards (as defined in subsection 3.3(b)), Gap Year Awards (as defined in subsection 3.5(a)) or Discretionary Awards (as defined in subsection 3.1(d)).  Each Award will be equal to a percentage of the Participant's annual Compensation, as described in the applicable Appendices for Level I Participants and Level II Participants.  “Compensation” means the Participant's annual earned base salary or wages for hours worked, including overtime and hours paid under the Bank's paid-time-off policies, as applicable, but in any case excluding any bonus, incentive compensation, or long-term disability insurance payments paid for the current or a prior year.  In the event a Participant receives a raise during a calendar year, the Participant's Compensation for the year will reflect the actual wages paid to the Participant for the year.
		
	(a)
	Performance Periods.  A “Performance Period” is the one-calendar year period over which an Annual Award can be earned and vested pursuant to subsections 3.3(a) and 3.4(a).  A “Deferral Performance Period” is the three-calendar year period over which a Deferred Award can be earned and vested pursuant to subsection 3.3(b).  A Deferral Performance Period begins on the January 1st immediately following the applicable Performance Period to which such Deferred Award applies.

		
	(b)
	Award Notification.  Participants will be notified of an Annual Award, a Deferred Award or Discretionary Award by the Bank by posting the Performance Goals and other necessary terms and conditions applicable to the Annual Award, Deferred Award or Discretionary Award on SharePoint on the Bank's intranet.

		
	(c)
	Award Levels.  Participants will receive varying Awards for each Performance Period based on their position with the Bank.  A “Level I Participant” is the Bank's President and Chief Executive Officer, Executive Vice President or Senior Vice President of the Bank or any other individual designated as a Level I Participant by the Board.  A “Level II Participant” is any participating employee who is not a Level I Participant.  If a Participant receives a new position within the Bank which position changes the Participant's Award eligibility, level, or opportunity, each of the Awards for which Participant is or was eligible during the calendar year will be prorated to reflect the portion of the calendar year during which the Participant was eligible for each such Award, level, or opportunity.

		
	(d)
	Discretionary Award.  The President may recommend to the Board that an additional discretionary Award (the “Discretionary Award”) be made to a Level II Participant to address external market considerations, recruiting needs, special projects and extraordinary individual or team efforts.  The aggregate pool of funds available for Discretionary Awards to Level II Participants will not exceed 20 percent of the annual aggregate Awards for still eligible Level I Participants.

		
	(e)
	Final Award and Extraordinary Occurrences.  The “Final Award” is the amount of an earned and vested Annual Award, Deferred Award, Gap Year Award or Discretionary Award, as adjusted based upon the level at which the Performance Goals have been achieved, that is ultimately paid to a Participant under the Plan.  The amount of a Final 

3

Award may be increased or decreased at the Board's discretion to account for performance that is not captured in the Performance Goals.  The Board, in its discretion, may also consider Extraordinary Occurrences when assessing performance results and determining Final Awards.  “Extraordinary Occurrences” mean those events that, in the opinion and discretion of the Board, are outside the significant influence of the Participant or the Bank and are likely to have a significant unanticipated effect, whether positive or negative, on the Bank's operating and/or financial results.  Examples of Extraordinary Occurrences include, but are not limited to, change in law, regulation, or regulatory policy, or systemic macroeconomic events outside of management's control.

		
	(f)
	Transition Goals for Replaced Long-Term Incentive Programs.  Upon adoption of this Plan, the “Performance Goals” required by the 2010 LTIP and 2011 LTIP for calendar years 2012 and 2013 shall be as set forth in Appendix III.

Section 3.2    Performance Goals.  “Performance Goals” are the performance factors established by the Board for each Performance Period, Deferral Performance Period and Gap Year Performance Period, as set forth in the applicable Appendices to the Plan, which are taken into consideration in determining the value of an Annual Award, Deferred Award or Gap Year Award.  The Board may, for any reason or for an Extraordinary Occurrence, adjust the Performance Goals for a Performance Period, Deferral Performance Period or Gap Year Performance Period to ensure the purposes of the Plan are served.  Any such adjustment to Performance Goals shall be submitted to the FHFA for review prior to implementation.

		
	(a)
	Establishment of Performance Goals.  Performance Goals for Performance Periods, Deferral Performance Periods or the Gap Year Performance Period commencing on and after January 1, 2012, will be communicated to Participants via SharePoint on the Bank's intranet after they have been established by the Board.

		
	(b)
	Achievement Level.  Three achievement levels will be defined for each Performance Goal in determining how much of an Award is earned.

		
	i.
	Threshold.  The “Threshold” achievement level is the minimum achievement level accepted for a Performance Goal.

		
	ii.
	Target.  The “Target” achievement level is the planned achievement level for a Performance Goal.

		
	iii.
	Maximum.  The “Maximum” achievement level is achievement that substantially exceeds the Target achievement level.

		
	(c)
	Interpolation.  Achievement levels that discreetly fall in between Threshold-, Target-, and Maximum, will be interpolated, unless otherwise described in a Performance Goal. 

		
	(d)
	Considerations in Establishing Performance Goals.  In determining appropriate Performance Goals and the relative weight accorded each Performance Goal, the Committee must:

4

		
	i.
	Balance risk and financial results in a manner that does not encourage Participants to expose the Bank to imprudent risks;

		
	ii.
	Make such determination in a manner designed to ensure that Participants' overall compensation is balanced and not excessive in amount and that the Annual Awards, Deferred Awards and Gap Year Awards are consistent with the Bank's policies and procedures regarding such compensation arrangements; and

		
	iii.
	Monitor the success of the Performance Goals and weighting established in prior years, alone and in combination with other incentive compensation awarded to the same Participants, and make appropriate adjustments in future calendar years as needed so that payments appropriately incentivize Participants and appropriately reflect risk.

Section 3.3    Earning and Vesting of Awards for Level I Participants.

		
	(a)
	Earning and Vesting of Annual Awards.  Fifty percent of an Award to a Level I Participant will become earned and vested on the last day of the Performance Period, provided the following requirements are met (an “Annual Award”):

		
	i.
	The applicable Performance Goals for the Performance Period are satisfied;

		
	ii.
	The Participant received (or, in the case of a Termination of Service described in Section 3.6(b) or Section 3.6(c) or a Reorganization described in Section 3.7, the President-CEO determines that the Participant would have received) a performance rating for the Performance Period of at least “Fully Meets Expectations” or “Satisfactory;” and

		
	iii.
	The Participant is actively employed on the last day of the Performance Period, unless otherwise provided in subsection Section 3.6  3.6(a) or 3.6(c) or Section 3.7.

		
	(b)
	Earning and Vesting of Deferred Awards.  The remaining 50 percent of an Award to a Level I Participant will become earned and vested on the last day of the Deferral Performance Period, provided the following requirements are met (a “Deferred Award”):

		
	i.
	The applicable Performance Goals for the Deferral Performance Period are satisfied;

		
	ii.
	The Participant received (or, in the case of a termination of Service described in Section 3.6(b) or Section 3.6(c) or a Reorganization described in Section 3.7, the President-CEO determines that the Participant would have received) an average performance rating for the Deferral Performance Period of at least Fully Meets Expectations or Satisfactory; and

		
	iii.
	The Participant is actively employed on the last day of the Deferral Performance Period, unless otherwise provided in Section 3.6 subsection 3.6(a) or 3.6(c) or Section 3.7.

5

		
	(c)
	Calculation of Awards.  The value of Awards to Level I Participants will be calculated in accordance with the applicable Appendix to the Plan.

Section 3.4    Earning and Vesting of Awards for Level II Participants.

		
	(a)
	Earning and Vesting of Awards.  An Award to a Level II Participant will become earned and vested on the last day of the Performance Period provided the following requirements are met (also an “Annual Award”):

		
	i.
	The applicable Performance Goals for the Performance Period are satisfied;

		
	ii.
	The Participant received (or, in the case of a Termination of Service described in Section 3.6(b) or Section 3.6(c), the President-CEO determines that the Participant would have received) a performance rating for the Performance Period of at least Fully Meets Expectations or Satisfactory; and

		
	iii.
	The Participant is actively employed on the last day of the Performance Period, unless otherwise provided in Section 3.6 subsection 3.6(a) or 3.6(c).

		
	(b)
	Calculation of Awards.  The value of Awards to Level II Participants will be calculated in accordance with the applicable Appendix to the Plan.

Section 3.5    Special Gap Year Awards for Level I Participants.

		
	(a)
	Background.  The Board has determined it is appropriate to make a special Award to Level I Participants solely for calendar year 2012 (a “Gap Year Award”) to address a gap in payment of incentive compensation during calendar year 2015 which arises as a result of the planned discontinuation of the 2011 LTIP and the implementation of this Plan. 

		
	(b)
	Earning and Vesting of Awards.  Notwithstanding Sections 3.3 and 3.4, a Gap Year Award will become earned and vested over a three-year period beginning on January 1, 2012 and ending on December 31, 2014 (the “Gap Year Performance Period”) to the extent:

		
	i.
	The Performance Goals for the Gap Year Performance Period, as set forth in the applicable Appendix to the Plan, are satisfied;

		
	ii.
	The Level I Participant received  (or, in the case of a Termination of Service described in Section 3.6(b) or Section 3.6(c) or a Reorganization described in Section 3.7, the President-CEO determines that the Participant would have received) an average performance rating for the Gap Year Performance Period of at least Fully Meets Expectations or Satisfactory; and

		
	iii.
	The Level I Participant is actively employed on the last day of the Gap Year Performance Period, unless otherwise provided in Section 3.6subsection 3.6(a) or 3.6(c) or Section 3.7.

		
	(c)
	Calculation of Awards.  The value of Gap Year Awards will be calculated in accordance with the applicable Appendix to the Plan.

6

Section 3.6    Effect of Termination of Service and Amendment of Prior Long-Term Plans.

		
	(a)
	In General.  If a Level I Participant incurs a Termination of Service for any reason other than a reason set forth in subsection 3.6(b), 3.6(c), or Section 3.7, the Level I Participant's Award will be forfeited, effective as of the date of such Termination of Service. 

If a Level II Participant incurs a Termination of Service for any reason other than a reason set forth in subsection 3.6(b) or 3.6(c), the Level II Participant's Award will be forfeited effective as of the date of such Termination of Service.  

		
	(b)
	Termination Due to Death, or Disability, or by the Bank without Cause due to a Reduction in Force.  

		
	i.
	Notwithstanding the provisions of Sections 3.3 and 3.5 and subsection 3.6(a), if a Level I Participant incurs a Termination of Service due to death or Disability or by the Bank without Cause due to a Reduction in Force during a Deferral Performance Period or the Gap Year Performance Period, then the Participant's Deferred Awards (including, without limitation, the Deferred award attributable to the calendar year in which the Termination of Service occurs) or Gap Year Award for all complete years of the three-year Deferral Performance Period or Gap Year Performance Period will be treated as earned and vested based on the assumption the Bank would have achieved the applicable Performance Goals at the Target achievement level for the Deferral Performance Period(s) and/or Gap Year Performance Period.

		
	ii.
	Notwithstanding the provisions of Sections 3.3 and 3.5 and subsection 3.6(a), if a Level I Participant incurs a Termination of Service during a Performance Period due to death or Disability or by the Bank without Cause due to a Reduction in Force, any Annual Award which has not been earned and vested as well as the Deferred Award for the year of the Participant's Termination of Service due to death or Disability, will be treated as earned and vested for the portion of the Performance Period during which the Participant was employed based on the assumption the Bank would have achieved the Performance Goals at the Target achievement level for the Performance Period.

		
	iii.
	Notwithstanding the provisions of Section 3.4 and subsection 3.6(a), if a Level II Participant incurs a Termination of Service during a Performance Period due to death, or Disability, or by the Bank without Cause due to a Reduction in Force, an Annual Award will be treated as earned and vested for the portion of the Performance Period during which the Participant was employed as of the date of such Termination of Service based on the assumption the Bank would have achieved the Performance Goals at the Target achievement level for the Performance Period.

		
	(c)
	Termination Due to Other Events.

		
	i.
	Termination of Service for Good Reason.  Notwithstanding the provisions of Sections 3.3 and 3.5 and subsection 3.6(a), if a Level I Participant incurs a Termination of Service due to Good Reason, an Annual Award, Deferred Award 

7

(including, without limitation, the Deferred Award attributable to the calendar year in which the Termination of Service occurs) or Gap Year Award, as the case may be, will be treated as earned and vested to the extent the Performance Goals for the Performance Period, Deferral Performance Period(s) and/or Gap Year Performance Period are satisfied.

		
	ii.
	Termination of Service due to Retirement.

		
	(A)
	Notwithstanding the provisions of Sections 3.3 and 3.5 and subsection 3.6(a), if a Level I Participant incurs a Termination of Service due to Retirement, any Annual Award which has not been earned and vested will be treated as earned and vested to the extent the Performance Goals for the Performance Period are satisfied.  

		
	(B)
	Notwithstanding the provisions of Sections 3.3 and 3.5 and subsection 3.6(a), if a Level I Participant incurs a Termination of Service due to Retirement, any Deferred Award (including, without limitation, the Deferred Award attributable to the calendar year in which the Termination of Service occurs) will be treated as earned and vested to the extent the Performance Goals for each applicable Deferral Performance Period are satisfied.  

		
	(C)
	Notwithstanding the provisions of Sections 3.3 and 3.5 and subsection 3.6(a), if a Level I Participant incurs a Termination of Service due to Retirement, any Gap Year Award which has not been earned and vested, will be treated as earned and vested to the extent the Performance Goals for the Gap Year Performance Period are satisfied. 

		
	iii.
	Notwithstanding the provisions of Section 3.4 and subsection 3.6(a), if a Level II Participant incurs a Termination of Service during a Performance Period due to Retirement, an Annual Award will be treated as earned and vested to the extent the Performance Goals for the Performance Period are satisfied.

		
	i.
	Notwithstanding the provisions of Sections 3.3 and 3.5 and subsection 3.6(a), if a Level I Participant incurs a Termination of Service during a Performance Period, Deferral Performance Period or Gap Year Performance Period due to:

8

		
	(A)
	Retirement;

		
	(B)
	a termination by a Level I Participant for Good Reason; or 

		
	(C)
	a termination by the Bank without Cause due to a Reduction in Force, 

an Annual Award, Deferred Award or Gap Year Award, as the case may be, will be treated as earned and vested for the portion of the Performance Period, Deferral Performance Period and/or Gap Year Performance Period during which the Participant was employed to the extent the Performance Goals for the Performance Period, Deferral Performance Period and/or Gap Year Performance Period are satisfied.
		
	i.
	Notwithstanding the provisions of Section 3.4 and subsection 3.6(a), if a Level II Participant incurs a Termination of Service during a Performance Period due to:

		
	(A)
	Retirement; or

		
	(B)
	a termination by the Bank without Cause due to a Reduction in Force, 

an Annual Award will be treated as earned and vested for the portion of the Performance Period during which the Level II Participant was employed to the extent the Performance Goals for the Performance Period are satisfied.
		
	(d)
	Definitions.

		
	i.
	“Cause” means (A) continued failure of a Participant to perform his or her duties with the Bank (other than any such failure resulting from Disability), after a written demand for performance is delivered to the Participant, which specifically identifies the manner in which the Participant has not performed his or her duties, (B) personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure or omission to perform stated duties, or willful violation of any law, rule or regulation (other than routine traffic violations or similar offenses), or (C) removal of the Participant for cause by the Federal Housing Finance Agency (“FHFA”) or at the direction of the FHFA pursuant to 12 U.S.C. 1422b(a)(2), or by any successor agency to the FHFA pursuant to a similar statute.

		
	ii.
	“Disability” means, as a result of the Participant's incapacity due to physical or mental illness, the Participant has been absent from his or her duties with the Bank for an aggregate of 12 out of 15 consecutive months and, within 30 days after a written notice of termination is thereafter given by the Bank to the Participant, the Participant does not return to the full-time performance of the Participant's duties.

9

		
	iii.
	“Good Reason” means a Termination of Service by a Level I Participant under any of the following circumstances:

		
	(A)
	a material change in the Participant's status, position, job title or principal duties and responsibilities as a key employee of the Bank which does not represent a promotion from the Participant's status and position as in effect as of the date hereof (“Position”);

		
	(B)
	the assignment to the Participant of any duties or responsibilities (or removal of any duties or responsibilities), which assignment or removal is materially inconsistent with such Position;

		
	(C)
	any removal of the Participant from such Position (including, without limitation, all demotions and harassing assignments), except in connection with the termination of the Participant's employment for Cause or Disability, or as a result of the Participant's death;

		
	(D)
	any material breach by the Bank of any provisions of this Plan or any other agreement with the Participant; or

		
	(E)
	any failure by the Bank or its successors and assigns to obtain the assumption of this Plan by any successor or assign of the Bank.

		
	iv.
	“Reduction in Force” means an involuntary Termination of Service of a Participant by the Bank in connection with a financial decision by the Board to reduce the number of Bank employees, not due to the Participant's performance, and not due to a Reorganization.

		
	v.
	“Retirement” means the Participant's planned and voluntary termination of employment after the Participant has delivered timely advance written notice of intent to retire to the Bank and has either: (A) attained age 60 with five “Years of Service,” or (B) attained the “Rule of 85,” which means the Participant has attained a combined age and Years of Service that mathematically is equal to or exceeds the number 85.  A “Year of Service” will be calculated in the same manner as under the Financial Institutions Thrift Plan.  Advance written notice will be deemed timely given if it is given at least four weeks in advance, as to Vice Presidents, First Vice Presidents, Senior Vice Presidents, Executive Vice Presidents, and the Chief Executive Officer, and at least two weeks in advance, as to all other employees.

Effective as of the effective date of the Federal Home Loan Bank of Indianapolis 2009 Incentive Plan (the “2009 LTIP”), the Federal Home Loan Bank of Indianapolis 2010 Incentive Plan (the “2010 LTIP”), and the Federal Home Loan Bank of Indianapolis Long Term Incentive Plan (the “2011 LTIP”), this subsection hereby amends the definition of “Retirement” under the 2009 LTIP, 2010 LTIP and the 2011 LTIP to conform to the definition of Retirement as set forth above, with respect to determining if an employee retired beginning on and after January 1, 2012.

10

		
	vi.
	“Termination of Service” means the occurrence of any act or event or any failure to act, that actually or effectively causes or results in a Participant ceasing, for whatever reason, to be an employee of the Bank, including, but not limited to, death, Disability, Retirement, termination of the Participant's employment by the Bank (whether for Cause or otherwise), termination by the Participant of his or her employment with the Bank for Good Reason and voluntary resignation or termination by the Participant of his or her employment.

Section 3.7    Effect of Reorganization. The following provision applies to Level I Participants only. 

		
	(a)
	Notwithstanding the provisions of Sections 3.3 and 3.6, if a Reorganization of the Bank occurs, then any portion of an Annual Award, or Deferred Award (including, without limitation, the Deferred Award attributable to the calendar year in which the Termination of Service occurs), or Gap Year Award which has not otherwise become earned and vested as of the date of the Reorganization will be treated as 100 percent earned and vested effective as of the date of the Reorganization based on the assumption the Bank would have achieved the Performance Goals at the Target achievement level for the Performance Period, and/or the Deferral Performance Period, and/or Gap Year Performance Period.

		
	(b)
	“Reorganization” of the Bank will mean the occurrence at any time of any of the following events:

		
	i.
	The Bank is merged or consolidated with or reorganized into or with another bank or other entity, or another bank or other entity is merged or consolidated into the Bank;

		
	ii.
	The Bank sells or transfers all, or substantially all of its business and/or assets to another bank or other entity;

		
	iii.
	More than 50 percent of the total market value or total voting power of all ownership interests in the Bank is acquired, within any 12-month period, by one person or entity or by more than one person or entity acting as a group; or

		
	iv.
	The liquidation or dissolution of the Bank.

The term “Reorganization” shall not include any Reorganization that is mandated by federal statute, rule, regulation, or directive, including 12 U.S.C. § 1421, et seq., as amended, and 12 U.S.C. § 4501 et seq., as amended, and which the Director of the FHFA (or successor agency) has determined should not be a basis for accelerating vesting under this Plan, by reason of the capital condition of the Bank or because of unsafe or unsound acts, practices, or condition ascertained in the course of the Agency's supervision of the Bank or because any of the conditions identified in 12 U.S.C. § 4617(a)(3) are met with respect to the Bank (which conditions do not result solely from the mandated reorganization itself, or from action that the Agency has required the Bank to take under 12 U.S.C. § 1431(d)).

11

Section 3.8    Payment of Awards.

		
	(a)
	Payments Related to Termination of Service.  The following provisions apply to Final Awards payable as a result of a Termination of Service.

		
	i.
	In the event of a Termination of Service due to a termination by the Bank without Cause due to a Reduction in Force, death, or Disability, 100 percent of a Final Award will be paid in a single sum within 75 days of the date of Termination of Service. Notwithstanding the foregoing, in the event of a Reduction in Force, a Participant must execute the severance agreement offered by the Bank in order to be eligible to receive payment.

		
	ii.
	In the event of a Termination of Service due to Retirement, or a termination by a Level I Participant for Good Reason or a termination by the Bank without Cause due to a Reduction in Force, payment of a Final Award will be made in a single sum within 75 days following the end of the Performance Period, Deferral Performance Period or Gap Year Performance Period, as applicable.  Notwithstanding the foregoing, in the event of a Reduction in Force, a Participant must execute the severance agreement offered by the Bank in order to be eligible to receive payment.

		
	(b)
	Payments Not Related to a Termination of Service.  Final Awards which become vested for reasons other than a Termination of Service will be paid in a single sum within 75 days following the end of the Performance Period, Deferral Performance Period or Gap Year Performance Period, as applicable.

		
	(c)
	Notwithstanding the foregoing provisions of this Section, Final Awards will be paid upon approval by the Board and after review of the calculations by the Bank's external auditor.  However, in the event of a Reorganization, payment of a Final Award will be made in a single sum on the date on which the Reorganization occurs.

Section 3.9    Reduction or Forfeiture of Awards.

		
	(a)
	If during the Deferral Performance Period actual losses or other measures or aspects of performance related to the Performance Period or Deferral Performance Period are realized which would have caused a reduction in amount of the Final Award calculated for the Performance Period or Deferral Performance Period, then the remaining amount of the Final Award to be paid at the end of the Deferral Performance Period will be reduced to reflect this additional information.

		
	(b)
	Notwithstanding any other provision of the Plan, if a Participant violates a Non-Solicitation Agreement, all of his unpaid vested and unvested Awards will be forfeited effective as of the date the Board determines such violation has occurred and gives written notice to the Participant of such determination.  Any future payments for a vested Award will cease and the Bank will have no further obligation to make such payments.

12

		
	(c)
	Notwithstanding any other provision of the Plan, if during the most recent examination of the Bank by the FHFA, the FHFA identified an unsafe or unsound practice or condition that is material to the financial operation of the Bank within the Participant's area(s) of responsibility and such unsafe or unsound practice or condition is not subsequently remediated to the satisfaction of the Board as determined by the Board after reviewing the findings or input from the FHFA, then all (or a portion) of a Participant's vested and unvested Awards will be forfeited as determined by the Board and directed to the participant in writing.  Any future payments for a vested Award will, if directed by the Board, cease and the Bank will have no further obligation to make such payments.

		
	(d)
	By resolution, the Board may reduce or eliminate an Award that is otherwise earned under this Plan but not yet paid, if the Board finds that a serious, material safety-soundness problem, or a serious, material risk-management deficiency exists at the Bank, or if: (i) operational errors or omissions result in material revisions to: (A) the financial results, (B) information submitted to the FHFA, or (C) data used to determine incentive payouts; (ii) submission of material information to the SEC, Office of Finance, and/or FHFA is significantly past due, or (iii) the Bank fails to make sufficient progress, as determined by the Board, in the timely remediation of significant examination, monitoring and other supervisory findings.

ARTICLE IV

ADMINISTRATION

Section 4.1    Appointment of the Committee.  The Committee, or a duly authorized officer or officers of the Bank empowered by the Committee to act on its behalf under sub-section 4.2(d), will be responsible for administering the Plan, and the Committee will be charged with the full power and the responsibility for administering the Plan in all its details; provided that the power to determine eligibility pursuant to Article II is reserved to the Board.

Section 4.2    Powers and Responsibilities of the Committee.  The Committee will have all powers necessary to administer the Plan, including the power to construe and interpret the Plan document; to decide all questions relating to an individual's eligibility to participate in the Plan; to determine the amount, manner and timing of any distribution of benefits under the Plan; to resolve any claim for benefits in accordance with Article V, and to appoint or employ advisors, including legal counsel, to render advice with respect to any of the Committee's responsibilities under the Plan.  Any construction, interpretation, or application of the Plan by the Committee will be final, conclusive and binding.

13

		
	(a)
	Records and Reports.  The Committee will be responsible for maintaining sufficient records to determine each Participant's eligibility to participate in the Plan.

		
	(b)
	Rules and Decisions.  The Committee may adopt such rules as it deems necessary, desirable, or appropriate in the administration of the Plan.  All rules and decisions of the Committee will be applied uniformly and consistently to all Participants in similar circumstances.  When making a determination or calculation, the Committee will be entitled to rely upon information furnished by a Participant, the Bank or the legal counsel of the Bank.

		
	(c)
	Application for Benefits.  The Committee may require a Participant to complete and file with it an application for a benefit, and to furnish all pertinent information requested by it.  The Committee may rely upon all such information so furnished to it, including the Participant's current mailing address.

		
	(d)
	Delegation.  The Committee may authorize one or more officers or employees of the Bank to perform administrative responsibilities on its behalf under the Plan.  Any such duly authorized officer will have all powers necessary to carry out the administrative duties delegated to such officer by the Committee.

Section 4.3    Income and Employment Tax Withholding.  The Bank will withhold from payments to Participants of their Awards, to the extent required by law, all applicable federal, state, city and local taxes.

Section 4.4    Plan Expenses.  The expenses incurred for the administration and maintenance of the Plan will be paid by the Bank.

ARTICLE V

BENEFIT CLAIMS

If the Committee requires a Participant to file a claim to receive his or her benefit under the Plan, or if he or she wishes to apply for a benefit, the claim must be made in writing and filed with the Committee.  If a claim is denied, the Committee will furnish the claimant with written notice of its decision.  A claimant may request a full and fair review of the denial of a claim for benefits by filing a written request with the Committee.
ARTICLE VI

AMENDMENT AND TERMINATION OF THE PLAN

Section 6.1    Amendment of the Plan.  The Bank, acting through the Board, may amend the Plan at any time in its sole discretion.  Notwithstanding the foregoing, the Bank may not amend the Plan to reduce a Participant's Award as determined on the day preceding the effective date of the amendment or to otherwise retroactively impair or adversely affect the rights of a Participant.  Any substantive amendment to the Plan shall be submitted to the FHFA for review prior to implementation.

14

Section 6.2    Termination of the Plan.  The Bank, acting through the Board, may terminate the Plan at any time in its sole discretion.  Absent an amendment to the contrary, Plan benefits that were earned and vested prior to the termination will be paid at the times and in the manner provided for by the Plan at the time of the termination.

ARTICLE VII

MISCELLANEOUS

Section 7.1    Governing Law.   Except to the extent superseded by laws of the United States, the laws of Indiana will be controlling in all matters relating to the Plan without regard to the choice of law principles therein.  The Plan and all Awards are intended to comply, and will be construed by the Bank in a manner in which they are exempt from or comply with the applicable provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).  To the extent there is any conflict between a provision of the Plan or an Award and a provision of Code Section 409A, the applicable provision of Code Section 409A will control.

Section 7.2    Headings and Gender.   The headings and subheadings in the Plan have been inserted for convenience of reference only and will not affect the construction of the Plan provisions.  In any necessary construction, the masculine will include the feminine and the singular the plural, and vice versa. All calculations of events that last a portion of a calendar year or are to be determined pro rata as to a calendar year will be determined by the actual number of days the condition or event existed and assuming a 365-day year.

Section 7.3    Spendthrift Clause.   No benefit or interest available under the Plan will be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or attachment by creditors of a Participant, either voluntarily or involuntarily.

Section 7.4    Counterparts.   This Plan may be executed in any number of counterparts, each one constituting but one and the same instrument, and may be sufficiently evidenced by any one counterpart.

Section 7.5    No Enlargement of Employment Rights.   Nothing contained in the Plan may be construed as a contract of employment between the Bank and any person, nor may the Plan be deemed to give any person the right to be retained in the employ of the Bank or limit the right of the Bank to employ or discharge any person with or without cause.

Section 7.6    Limitations on Liability.   The individual members of the Board will, in accordance with the Bank's by-laws, be indemnified and held harmless by the Bank with respect to any alleged breach of responsibilities performed or to be performed hereunder.  In addition, notwithstanding any other provision of the Plan, neither the Bank nor any individual acting as an employee or agent of the Bank will be liable to a Participant for any claim, loss, liability or expense incurred in connection with the Plan, except when the same has been affirmatively determined by a court order or by the affirmative and binding determination of an arbitrator, to be due to the gross negligence or willful misconduct of that person.

15

Section 7.7    Incapacity of Participant.   If any person entitled to receive a distribution under the Plan is physically or mentally incapable of personally receiving and giving a valid receipt for any payment due (unless a prior claim for the distribution has been made by a duly qualified guardian or other legal representative), then, unless and until a claim for the distribution has been made by a duly appointed guardian or other legal representative of the person, the Committee may provide for the distribution to be made to any other individual or institution then contributing toward or providing for the care and maintenance of the person.  Any payment made for the benefit of the person under this Section will be a payment for the account of such person and a complete discharge of any liability of the Bank and the Plan.

Section 7.8    Evidence.   Evidence required of anyone under the Plan may be by certificate, affidavit, document or other information which the person relying on the evidence considers pertinent and reliable, and signed, made or presented by the proper party or parties.

Section 7.9    Action by Bank.  Any action required of or permitted by the Bank under the Plan will be by resolution of the Board or by a person or persons authorized by resolution of the Board.

Section 7.10    Severability.   In the event any provisions of the Plan are held to be illegal or invalid for any reason, the illegality or invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and endorsed as if the illegal or invalid provisions had never been contained in the Plan.

Section 7.11    Information to be Furnished by a Participant.   A Participant, or any other person entitled to benefits under the Plan, must furnish the Committee with any and all documents, evidence, data or other information the Committee considers necessary or desirable for the purpose of administering the Plan.  Benefit payments under the Plan are conditioned on a Participant (or other person who is entitled to benefits) furnishing full, true and complete data, evidence or other information to the Committee, and on the prompt execution of any document reasonably related to the administration of the Plan requested by the Committee.

Section 7.12    Attorneys' Fees.  If any action is commenced to enforce the provisions of the Plan, payment of attorneys' fees will be governed by the terms set forth in the mandatory “Agreement to Arbitrate” entered into between the Bank and the Participant.

Section 7.13    Binding on Successors.   The Plan will be binding upon and inure to the benefit of the Bank and its successors and assigns, and the successors, assigns, designees and estates of a Participant.  The Plan will also be binding upon and inure to the benefit of any successor organization succeeding to substantially all of the assets and business of the Bank, but nothing in the Plan will preclude the Bank from merging or consolidating into or with, or transferring all or substantially all of its assets to, another organization which assumes the Plan and all obligations of the Bank hereunder.  The Bank agrees that it will make appropriate provision for the preservation of a Participant's rights under the Plan in any agreement or plan which it may enter into to effect any merger, consolidation, reorganization or transfer of assets.  Upon such a merger, consolidation, reorganization or transfer of assets and assumption of Plan obligations of the Bank, the term “Bank” will refer to such other organization and the Plan will continue in full force and effect.

Section 7.14    Retention of Former Plans.  Each of the 2009 LTIP, 2010 LTIP, and 2011 LTIP, as amended herein, are incorporated herein by reference. Each of the 2009 LTIP, 2010 LTIP, and 2011 LTIP, as so amended, shall survive adoption of this Plan according to its respective terms.  In addition, Subsection 3.1(c) of the 2011 LTIP is hereby amended, retroactive to January 1, 2011, by adding the following sentence at the end of such subsection:

16

“If a Participant receives a new position within the Bank which position changes the Participant's Award eligibility, level, or opportunity, each of the Awards for which such Participant is or was eligible during or relating to a calendar year will be prorated to reflect the portion of the calendar year during which the Participant was eligible for each such Award, level, or opportunity based on such new position.”

17

2013 PERFORMANCE GOALS AS APPROVED BY THE BOARD OF DIRECTORS:

Pursuant to Section 3.2 of the Federal Home Loan Bank of Indianapolis (“Bank”) Incentive Plan, effective as of January 1, 2012, and as amended on March 19, 2012, and May 18, 2012 (the “Plan”), the following Appendices were adopted by the Board of Directors (the “Board”) of the Bank on November 15, 2012, after consideration and review by the Human Resources Committee of the Board.  These Appendices to the Plan are effective as of January 1, 2013.  All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Plan.

18

APPENDIX I

2012 PERFORMANCE PERIOD AWARDS FOR LEVEL II PARTICIPANTS
Federal Home Loan Bank of Indianapolis

A.    Incentive Opportunities
	
					
	 
	INCENTIVE DELIVERED IN CASH
AS % OF COMPENSATION*

	Position
	Threshold
	Target
	Maximum

	1ST VP
	20%
	25%
	30%

	VP of Sales
	20%
	30%
	40%

	VP
	15%
	20%
	25%

	AVP
	5%
	10%
	15%

	OTHER Employees
	2.5%
	7.5%
	10%

*Compensation is defined in Section 3.1 of the Federal Home Loan Bank of Indianapolis Incentive Plan

19

B.    2013 Performance Goals	
							
	MISSION GOALS
	WEIGHTED VALUE
	MINIMUM THRESHOLD
	TARGET
	MAXIMUM

	Bank10
	CRM
	Sales11

	1.  PROFITABILITY1
	25%
	15%
	20%
	250 bp
	504 bp
	600 bp

	 
	 
	 
	 
	 
	 
	 

	 2.  MEMBER PRODUCTS
	 
	 
	 
	 
	 
	 

	Member Advance Growth2
	10%
	5%
	20%
	1%
	3%
	8%

	 
	 
	 
	 
	 
	 
	 

	Advance Special Activity3 
	5%
	5%
	10%
	6 points
	9 points
	12 points

	 
	 
	 
	 
	 
	 
	 

	MPP Production4
	10%
	5%
	15%
	$750 MM
	$1,250 MM
	$1,750 MM

	 
	 
	 
	 
	 
	 
	 

	New or Reactivated Traders5
	5%
	5%
	10%
	18 points
	24 points
	30 points

	 
	 
	 
	 
	 
	 
	 

	3.  CORE BANKING SOLUTION6
	20%
	20%
	20%
	TDRA Operational12
	CBS Core Calypso Production-Ready by December 31, 201313
	CBS Core Calypso in Production by December 31, 201314

	 
	 
	 
	 
	 
	 
	 

	4.  CORPORATE RISK MANAGEMENT
	 
	 
	 
	 
	 
	 

	Retained Earnings7
	10%
	10%
	2%
	4%
	4.15%
	4.3%

	CRM Memo8 
	5%
	10%
	1%
	2 memos
	4 memos
	5 memos

	ORM Reports and IS Reports
	5%
	5%
	1%
	2 ORM reports, and 1 IS report
	3 ORM reports, and 2 IS reports
	4 ORM reports, and 3 IS reports

	Special Risk Assessments, Risk Analysis or Risk Process Improvements9
	5%
	20%
	1%
	2
	4
	6

1Profitability, for purposes of this goal, is defined as the potential dividend rate in excess of the Bank's cost of funds rate.  The potential dividend rate is the Bank's adjusted net income rate.  Adjusted net income is defined as GAAP net income:(i) adjusted for the effects of current and prior period Advance prepayments and debt extinguishments, (ii) adjusted for the effects of any mark-to-market adjustments and certain other effects from derivatives and hedging activities under SFAS 133, (iii) increased by the interest expense under SFAS 150, and (iv) reduced by the  portion of net income to be added to restricted retained earnings under the Joint Capital Enhancement Agreement, as amended, dated August 5, 2011, by and among the twelve Federal Home Loan Banks.  The Bank's adjusted net income rate is the adjusted net income, as defined above, as a percentage of average total regulatory capital stock.  Assumes no material change in investment authority under FHFA's regulation, policy or law.  

2Member advances are calculated as the growth in the average daily balance of advances outstanding to members at par.  Average daily balances are used instead of point-in-time balances to eliminate point-in-time activity that may occur and to reward for the benefit of the income earned on advances balances while outstanding.  Members that become non-members during 2013 will be excluded from the calculation.
   
3For each Advance Special offering (i.e., each advance offering communicated to members on special terms), one (1) point is earned for an Advance Special offering if at least five (5) members participate in the offering for a combined total of $20 million or more. 

20

4Mortgage Purchase Program production, including FHA and conventional, will be the amount of all MDCs traded in 2013.  Assumes no capital requirement for MPP.  Excludes MPF.  It also assumes no material change in MPP authority under FHFA's regulation, policy, or law.  When calculating achievement between the minimum threshold and the performance maximum, no single member can account for more than 25% of conventional production.  

5One (1) point is earned for entering into an MPP transaction with each member that has never traded or not traded with MPP within the previous 12 months of their 2013 trade. Two (2) points are earned for entering into an MPP transaction with each member that has not engaged in such a transaction for sixty (60) or more days (a “Fading Member”).  Two points may be earned on a Fading Member only one time per member. 

6Status and reporting on these technology projects and their attainment to be provided in writing by the CIO and confirmed by the EVP-COO-CFO. The CIO and the EVP-COO-CFO will advise the Committee of unanticipated developments that could be anticipated to materially change the Bank's ability to achieve this goal.

7Total Retained Earnings divided by mortgage assets, measured at the end of each month.  Calculated each month as Total Retained Earnings divided by the sum of the carrying value of the MBS and Acquired Member Asset (“AMA”) portfolios.  The year-end calculation will be the simple average of 12 month-end calculations.

8As per the Board meeting schedule, provide the Board the Corporate Risk Management (“CRM”) memo. 

9CRO will propose and CEO will evaluate whether to categorize these as special and whether work product was acceptable to count toward this goal.

10For all Level II Participants, excluding those addressed in the CRM and Sales columns, and excluding those in the Internal Audit department.

11For VP-Business Development Director, VP of Sales, other Account Managers and Market Research Staff, excluding their administrative support staff - such eligible individuals fall under the Bank column for the weighted value determination.

12Threshold level is met if: (i) Treasury Derivative Risk Analytics (“TDRA”) platform is operational; (ii) Calypso Risk Management Platform is operating on a stable environment; (iii) Treasury has completed the validation and calibration to market; and (iv) Risk Management Reporting is available to Treasury.  

13Target level is met if CBS Core Calypso Convergence Points in Production Ready status by December 31, 2013.  

14Maximum level is met if CBS Core Calypso Convergence Points in Production December 31, 2013.  

21

Appendix II

2013 Performance Period awards for level I participants
Federal Home Loan Bank of Indianapolis

A.    Incentive Opportunities
	
										
	 
	 
	 
	 
	50% of Total Incentive Deferred for 3-Years
	50% of Total Incentive Deferred for 3-Years

	 
	TOTAL INCENTIVE AS % OF COMPENSATION*
	YEAR-END INCENTIVE AS % OF COMPENSATION*
	DEFERRED INCENTIVE
AS % OF COMPENSATION**

	Position
	Threshold
	Target
	Maximum
	Threshold
	Target
	Maximum
	Threshold
	Target
	Maximum

	CEO
	50%
	75%
	100%
	25%
	37.5%
	50%
	25%
	37.5%
	50%

	EVP/SVP
	30%
	50%
	70%
	15%
	25%
	35%
	15%
	25%
	35%

*Compensation is defined in Section 3.1 of the Federal Home Loan Bank of Indianapolis Incentive Plan.
**Deferred Awards are subject to additional Performance Goals during the Deferral Performance Period.  Depending on the Bank's performance during the Deferral Performance Period, the Final Award will be worth 75 percent at Threshold, 100 percent at Target or 125 percent at Maximum of the original amount of the Deferred Award.

22

B.    2013 Performance Goals
	
						
	MISSION GOALS
	WEIGHTED VALUE
	MINIMUM THRESHOLD
	TARGET
	MAXIMUM

	Bank10
	CRM

	1.  PROFITABILITY1
	25%
	15%
	250 bp
	504 bp
	600 bp

	 
	 
	 
	 
	 
	 

	2.  MEMBER PRODUCTS
	 
	 
	 
	 
	 

	Member Advance Growth2
	10%
	5%
	1%
	3%
	8%

	 
	 
	 
	 
	 
	 

	Advance Special Activity3
	5%
	5%
	6 points
	9 points
	12 points

	 
	 
	 
	 
	 
	 

	MPP Production4
	10%
	5%
	$750 MM
	$1,250 MM
	$1,750 MM

	 
	 
	 
	 
	 
	 

	New or Reactivated Traders5
	5%
	5%
	18 points
	24 points
	30 points

	 
	 
	 
	 
	 
	 

	3.  CORE BANKING SOLUTION6
	20%
	20%
	TDRA Operational11
	CBS Core Calypso Production-Ready by December 31, 201312
	CBS Core Calypso in Production by December 31, 201313

	 
	 
	 
	 
	 
	 

	4.  CORPORATE RISK MANAGEMENT
	 
	 
	 
	 
	 

	Retained Earnings7
	10%
	10%
	4%
	4.15%
	4.3%

	CRM Memo8 
	5%
	10%
	2 memos
	4 memos
	5 memos

	      ORM Reports and IS Reports
	5%
	5%
	2 ORM reports, and 1 IS report
	3 ORM reports, and 2 IS reports
	4 ORM reports, and 3 IS reports

	Special Risk Assessments, Risk Analysis or Risk Process Improvements9
	5%
	20%
	2
	4
	6

1Profitability, for purposes of this goal, is defined as the potential dividend rate in excess of the Bank's cost of funds rate.  The potential dividend rate is the Bank's adjusted net income rate.  Adjusted net income is defined as GAAP net income:(i) adjusted for the effects of current and prior period Advance prepayments and debt extinguishments, (ii) adjusted for the effects of any mark-to-market adjustments and certain other effects from derivatives and hedging activities under SFAS 133, (iii) increased by the interest expense under SFAS 150, and (iv) reduced by the  portion of net income to be added to restricted retained earnings under the Joint Capital Enhancement Agreement, as amended, dated August 5, 2011, by and among the twelve Federal Home Loan Banks.  The Bank's adjusted net income rate is the adjusted net income, as defined above, as a percentage of average total regulatory capital stock.  Assumes no material change in investment authority under FHFA's regulation, policy or law.  

2Member advances are calculated as the growth in the average daily balance of advances outstanding to members at par.  Average daily balances are used instead of point-in-time balances to eliminate point-in-time activity that may occur and to reward for the benefit of the income earned on advances balances while outstanding.  Members that become non-members during 2013 will be excluded from the calculation.
   
3For each Advance Special offering (i.e., each advance offering communicated to members on special terms), one (1) point is earned for an Advance Special offering if at least five (5) members participate in the offering for a combined total of $20 million or more. 

4Mortgage Purchase Program production, including FHA and conventional, will be the amount of all MDCs traded in 2013.  Assumes no capital requirement for MPP.  Excludes MPF.  It also assumes no material change in MPP authority under FHFA's regulation, policy, or law.  When calculating achievement between the minimum threshold and the performance maximum, no single member can account for more than 25% of conventional production.  

23

5One (1) point is earned for entering into an MPP transaction with each member that has never traded or not traded with MPP within the previous 12 months of their 2013 trade. Two (2) points are earned for entering into an MPP transaction with each member that has not engaged in such a transaction for sixty (60) or more days (a “Fading Member”).  Two points may be earned on a Fading Member only one time per member.

6Status and reporting on these technology projects and their attainment to be provided in writing by the CIO and confirmed by the EVP-COO-CFO. The CIO and the EVP-COO-CFO will advise the Committee of unanticipated developments that could be anticipated to materially change the Bank's ability to achieve this goal.

7Total Retained Earnings divided by mortgage assets, measured at the end of each month.  Calculated each month as Total Retained Earnings divided by the sum of the carrying value of the MBS and AMA assets portfolios.  The year-end calculation will be the simple average of 12 month-end calculations.

8As per the Board meeting schedule, provide the Board the Corporate Risk Management (“CRM”) memo.

9CRO will propose and CEO will evaluate whether to categorize these as special and whether work product was acceptable to count toward this goal.

10For Level I Participants other than those in CRM and Internal Audit.

11Threshold level is met if: (i) Treasury Derivative Risk Analytics (“TDRA”) platform is operational; (ii) Calypso Risk Management Platform is operating on a stable environment; (iii) Treasury has completed the validation and calibration to market; and (iv) Risk Management Reporting is available to Treasury.  

12Target level is met if CBS Core Calypso Convergence Points in Production Ready status by December 31, 2013.  

13Maximum level is met if CBS Core Calypso Convergence Points in Production December 31, 2013.  

C.    2014-2016 Performance Goals
	
						
	MISSION GOALS
	WEIGHTED VALUE
	MINIMUM THRESHOLD4
	TARGET4
	MAXIMUM4

	Bank3
	CRM

	 
	 
	 
	 
	 
	 

	1. PROFITABILITY1
	35%
	35%
	25 bp
	50 bp
	150 bp

	 
	 
	 
	 
	 
	 

	2. RETAINED EARNINGS2
	35%
	35%
	3.5%
	3.9%
	4.3%

	 
	 
	 
	 
	 
	 

	3. PRUDENTIAL
	30%
	30%
	Achieve 2 Prudential Standards
	

	Achieve all 3 Prudential Standards

	Maintain a regulatory capital-to-assets ratio of at least 4.16% as measured on each quarter-end in 2014 through 2016.
	 
	 
	 
	 
	 

	Without Board pre-approval, do not purchase more than $2.5 billion of conventional AMA assets per plan year.
	 
	 
	 
	 
	 

	Award to FHLBI members the annual AHP funding requirement in each plan year.
	 
	 
	 
	 
	 

24

1Profitability, for purposes of this goal, is defined as the potential dividend rate in excess of the Bank's cost of funds rate.  The potential dividend rate is the Bank's adjusted net income rate.  Adjusted net income is defined as GAAP net income:(i) adjusted for the effects of current and prior period Advance prepayments and debt extinguishments, (ii) adjusted for the effects of any mark-to-market adjustments and certain other effects from derivatives and hedging activities under SFAS 133, (iii) increased by the interest expense under SFAS 150, and (iv) reduced by the  portion of net income to be added to restricted retained earnings under the Joint Capital Enhancement Agreement, as amended, dated August 5, 2011, by and among the twelve Federal Home Loan Banks.  The Bank's adjusted net income rate is the adjusted net income, as defined above, as a percentage of average total regulatory capital stock.  Assumes no material change in investment authority under FHFA's regulation, policy or law. This will be computed using a simple annual average over the three-year period.

2Total Retained Earnings divided by mortgage assets, measured at the end of each month.  Calculated each month as Total Retained Earnings divided by the sum of the carrying value of the MBS and AMA assets portfolios.  The calculation will be the simple average of 36 month-end calculations.

3For Level I Participants other than those in CRM and Internal Audit.

4Deferred Awards are subject to additional Performance Goals for the Deferral Performance Period.  Depending on the Bank's performance during the Deferral Performance Period, the Final Award will be worth 75 percent at Threshold, 100 percent at Target or 125 percent at Maximum of the original amount. 

25

Appendix III

ANNUAL AWARD TARGETS FOR 2010 AND 2011 LONG TERM INCENTIVE PLANS
Federal Home Loan Bank of Indianapolis 
[Unchanged from prior year except for AMA and JCEA-related measures]

A.    Calendar Year 2012 for the 2010 LTIP and 2011 LTIP
For purposes of calculating Final Awards* for the 2010 LTIP and 2011 LTIP for eligible Participants,* with respect to the portion of the Performance Period* measured as to calendar year 2012, the following table shall be used to determine the annual achievement average, which shall in turn be multiplied by the Participant's 2010 base salary for the 2010 LTIP benefit calculation, and by the Participant's 2011 base salary for the 2011 LTIP benefit calculation. These calculations are used for purposes of determining the three-year achievement average percentage pursuant to the terms of the 2010 LTIP and the 2011 LTIP.

* As such terms are defined in the 2010 LTIP and 2011 LTIP, respectively.

	
						
	2012 MISSION GOALS
	WEIGHTED VALUE
	MINIMUM THRESHOLD
(60%)
	TARGET

(80%)
	MAXIMUM

(100%)

	Bank3
	CRM

	1. PROFITABILITY1
	50%
	50%
	100 bp
	266 bp
	300 bp

	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 

	2. RETAINED EARNINGS2
	50%
	50%
	3.5%
	3.75%
	3.9%

	 
	 
	 
	 
	 
	 

1Profitability, for purposes of this goal, is defined as the potential dividend rate in excess of the Bank's cost of funds rate.  The potential dividend rate is the Bank's adjusted net income rate.  Adjusted net income is defined as GAAP net income:(i) adjusted for the effects of current and prior period Advance prepayments and debt extinguishments, (ii) adjusted for the effects of any mark-to-market adjustments and certain other effects from derivatives and hedging activities under SFAS 133, (iii) increased by the interest expense under SFAS 150, and (iv) reduced by the  portion of net income to be added to restricted retained earnings under the Joint Capital Enhancement Agreement, as amended, dated August 5, 2011, by and among the twelve Federal Home Loan Banks (the “JCEA”).  The Bank's adjusted net income rate is the adjusted net income, as defined above, as a percentage of average total regulatory capital stock.  Assumes no material change in investment authority under FHFA's regulation, policy or law.

2Total Retained Earnings divided by mortgage assets.  Calculated each month as Total Retained Earnings divided by the sum of the carrying value of the MBS and AMA asset portfolios.  The year-end calculation will be the simple average of 12 month-end calculations.

3For Level I Participants other than those in CRM and Internal Audit.

B.    Calendar Year 2013 for the 2011 LTIP
For purposes of calculating Final Awards under the 2011 LTIP for eligible Participants, with respect to the portion of the Performance Period measured as to calendar year 2013, the following preliminary table shall be used to determine the annual achievement average, which shall in turn be multiplied by the Participant's 2011 base salary for the 2011 LTIP benefit calculation.  These preliminary calculations are used for purposes of determining the three-year achievement average percentage pursuant to the 2011 LTIP.  The Board may review and revise this table at any time.  If the Board does not revise this table, the preliminary figures shall be deemed to be final.

26

	
						
	2013 MISSION GOALS
	WEIGHTED VALUE
	MINIMUM THRESHOLD
(60%)
	TARGET

(80%)
	MAXIMUM

(100%)

	Bank3
	CRM

	1. PROFITABILITY1
	50%
	50%
	100 bp
	266 bp
	300 bp

	 
	 
	 
	 
	 
	 

	2. RETAINED EARNINGS2
	50%
	50%
	3.5%
	3.75%
	3.9%

	 
	 
	 
	 
	 
	 

1Profitability, for purposes of this goal, is defined as the potential dividend rate in excess of the Bank's cost of funds rate.  The potential dividend rate is the Bank's adjusted net income rate.  Adjusted net income is defined as GAAP net income:(i) adjusted for the effects of current and prior period Advance prepayments and debt extinguishments, (ii) adjusted for the effects of any mark-to-market adjustments and certain other effects from derivatives and hedging activities under SFAS 133, (iii) increased by the interest expense under SFAS 150, and (iv) reduced by the  portion of net income to be added to restricted retained earnings under the Joint Capital Enhancement Agreement, as amended, dated August 5, 2011, by and among the twelve Federal Home Loan Banks.  The Bank's adjusted net income rate is the adjusted net income, as defined above, as a percentage of average total regulatory capital stock.  Assumes no material change in investment authority under FHFA's regulation, policy or law. 

2Total Retained Earnings divided by mortgage assets.  Calculated each month as Total Retained Earnings divided by the sum of the carrying value of the MBS 
and AMA asset portfolios.  The year-end calculation will be the simple average of the 12 month-end calculations.

3For Level I Participants other than those in CRM and Internal Audit.

27

Appendix IV

Awards addressing 2015 gap year for level I participants
Federal Home Loan Bank of Indianapolis 
[Unchanged from prior year except for AMA and JCEA-related measures]

A.    Incentive Opportunities
	
		
	 
	LONG-TERM INCENTIVE % OF ACTUAL 2011 SHORT-TERM YEAR-END INCENTIVE PAID IN 2012

	Position
	Award Factor

	CEO
	60%

	EVP/SVP
	67%

B.    2012-2014 Performance Plan Goals for Gap Calculation

	
						
	MISSION GOALS
	WEIGHTED VALUE
	MINIMUM THRESHOLD4
	TARGET4
	MAXIMUM4

	Bank3
	CRM

	1.  PROFITABILITY1
	35%
	35%
	25 bp
	50 bp
	150 bp

	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 

	2. Retained Earnings2
	35%
	35%
	3.5%
	3.9%
	4.3%

	 
	 
	 
	 
	 
	 

	3.  PRUDENTIAL
	30%
	30%
	Achieve 2 Prudential Standards
	

	Achieve all 3 Prudential Standards

	Maintain a regulatory capital-to-assets ratio of at least 4.16% as measured on each quarter-end in 2012 through 2014.
         
	 
	 
	 
	 
	 

	Without Board pre-approval, do not purchase more than $2.5 billion of conventional AMA assets per plan year.
	 
	 
	 
	 
	 

	Award to FHLBI members the annual AHP funding requirement in each plan year.
	 
	 
	 
	 
	 

1Profitability, for purposes of this goal, is defined as the potential dividend rate in excess of the Bank's cost of funds rate.  The potential dividend rate is the Bank's adjusted net income rate.  Adjusted net income is defined as GAAP net income:(i) adjusted for the effects of current and prior period Advance prepayments and debt extinguishments, (ii) adjusted for the effects of any mark-to-market adjustments and certain other effects from derivatives and hedging activities under SFAS 133, (iii) increased by the interest expense under SFAS 150, and (iv) reduced by the  portion of net income to be added to restricted retained earnings under the Joint Capital Enhancement Agreement, as amended, dated August 5, 2011, by and among the twelve Federal Home Loan Banks.  The Bank's adjusted net income rate is the adjusted net income, as defined above, as a percentage of average total regulatory capital stock.  Assumes no material change in investment authority under FHFA's regulation, policy or law. The Potential Dividend will be computed using a simple annual average over the three-year period.

2Total Retained Earnings divided by mortgage assets.  Calculated each month as Total Retained Earnings divided by the sum of the carrying value of the MBS and AMA asset portfolios.  The calculation will be the simple average of 36 month-end calculations.

28

3For Level I Participants other than those in CRM and Internal Audit.

4Gap Year Awards are subject to additional Performance Goals for the Gap Year Performance Period.  Depending on the Bank's performance during the Gap Year Performance Period, the Final Award will be worth 75 percent at Threshold, 100 percent at Target or 125 percent at Maximum of the original amount.

29

Appendix V

FORM OF NON-SOLICITATION AND NON-DISCLOSURE AGREEMENT

This Agreement is entered into as of the ____ day of _____________, 201_, by and between the FEDERAL HOME LOAN BANK OF INDIANAPOLIS, a corporation organized under the laws of the United States (the “Bank”) and ____________________ (the “Executive”).
WHEREAS, the Bank sponsors the Federal Home Loan Bank of Indianapolis Incentive Plan (the “Plan”); and
WHEREAS, as a condition of participation in the Plan, the Bank requires that the Executive agree to the terms and conditions found within this Agreement;
NOW, THEREFORE, in consideration of the premises and of the mutual promises and agreements contained herein and other good and valuable consideration, the receipt, legal adequacy and sufficiency of which are hereby acknowledged, the parties agree as follows:

1.    Non-Disclosure; Return of Confidential Information and Other Property.
		
	(a)
	Access to Confidential Information.  The Executive understands, acknowledges and agrees that during the course of his or her employment with the Bank he or she has gained or will gain information regarding, knowledge of, and familiarity with, the Confidential Information of the Bank (as defined in subsection (c)) that would cause irreparable damage and harm to the Bank if it was disclosed.  The Executive understands, acknowledges and agrees that the Confidential Information has substantial economic value because it is not known or readily ascertainable by proper means by others who could obtain economic value from it.  The Executive also acknowledges and agrees that the Bank uses reasonable means to maintain the secrecy and confidentiality of the Confidential Information.

		
	(b)
	Non-Disclosure.  At all times while the Executive is employed by the Bank, and at all times thereafter, the Executive will not (i) directly or indirectly disclose, provide or discuss any Confidential Information with or to any Person (as defined in subsection (d)) other than those directors, officers, employees, representatives and agents of the Bank who need to know such Confidential Information for a proper corporate purpose, and (ii) directly or indirectly use any Confidential Information (A) to compete against the Bank, or (B) for the Executive's own benefit, or for the benefit of any Person other than the Bank.

		
	(c)
	Confidential Information Defined.  For purposes of this Agreement, the term “Confidential Information” means any and all:

		
	(i)
	materials, records, data, documents, lists, writings and information (in each case, whether in writing, printed, verbal, electronic, computerized or otherwise) (A) relating or referring in any manner to the business, operations, affairs, financial condition, results of operation, cash flow, assets, liabilities, sales, revenues, income, estimates, projections, policies, strategies, techniques, methods, products, developments, suppliers, regulators, members, relationships and/or customers of the Bank that are confidential, proprietary or not otherwise publicly available, in any event not without a breach of this Agreement, or (B) that the Bank has deemed confidential, proprietary, nonpublic or not otherwise publicly available without breaching this Agreement;

		
	(ii)
	trade secrets of the Bank, as defined in Indiana Code Section 24-2-3-2, as amended, or any successor statute; and

		
	(iii)
	any and all copies, summaries, analyses and extracts which relate or refer to or 

30

reflect any of the items set forth in (i) or (ii) above.  The Executive agrees that all Confidential Information is confidential and is and at all times will remain the property of the Bank.
		
	(d)
	Person Defined.  For purposes of this Agreement, the term “Person” will mean any natural person, proprietorship, partnership, corporation, limited liability company, bank, organization, firm, business, joint venture, association, trust or other entity and any government agency, body or authority.

		
	(e)
	Return of Confidential Information and Other Property.  The Executive covenants and agrees:

		
	(i)
	to keep all Confidential Information subject to the Bank's custody and control and to promptly return to the Bank all Confidential Information that is still in the Executive's possession or control at the termination of the Executive's employment with the Bank; and

		
	(ii)
	promptly upon termination of the Executive's employment with the Bank, to return to the Bank, at the Bank's principal office, all vehicles, equipment, computers, credit cards and other property of the Bank and to cease using any of the foregoing.

		
	(f)
	Exceptions from Confidentiality Obligations.  Section 1 shall not be deemed to prevent the Executive from making disclosures required by applicable regulation, law, agency order, or court order, to the extent the Executive provides reasonable written notice of such disclosure requirement to the Bank prior to such disclosure, to the extent such prior notice is not prohibited, to permit the Bank to contest the disclosure of such information.

2.    Non-Disparagement.  The Executive agrees to not communicate disparaging remarks to third parties about the Bank, its directors, officers or employees.  Likewise, the Bank agrees not to disparage the Executive or his or her skills or job performance to third parties.  However, nothing in this paragraph shall prohibit the Bank or the Executive from testifying truthfully under oath.

3.    Non-Solicitation and No-Hire.  The Executive hereby understands, acknowledges and agrees that, by virtue of his or her position with the Bank, the Executive has and will have advantageous familiarity and personal contacts with the employees of the Bank and has and will have advantageous familiarity with the business, operations and affairs of the Bank.  In addition, the Executive understands, acknowledges and agrees that the business of the Bank is highly competitive.  Accordingly, at all times while the Executive is employed by the Bank and for a twelve-month period following Termination of Service, the Executive will not, directly or indirectly, or individually or together with any other Person, as owner, shareholder, investor, member, partner, proprietor, principal, director, officer, Executive, manager, agent, representative, independent contractor, consultant or otherwise induce, request or attempt to influence any Bank employee who was employed by the Bank during the twelve-month period prior to Termination of Service, to terminate his or her employment with the Bank.  In addition, the Executive agrees that for a period of twelve months following the Executive's Termination of Service, Executive will not hire any Bank employee who was employed by the Bank during the twelve-month period prior to the Executive's Termination of Service.

4.    Periods of Noncompliance and Reasonableness of Periods.  The restrictions and covenants contained in Section 3 will not run during all periods of noncompliance and will apply during the Term of this Agreement and for the full periods specified in Section 3.  The Bank and the Executive understand, acknowledge and agree that the restrictions and covenants contained in Section 3 are reasonable in view of the nature of the business in which the Bank is engaged, the Executive's position with the Bank and the Executive's advantageous knowledge and familiarity with, the Bank's employees, business, operations, affairs and customers.
The Bank's obligation to pay an award to the Executive pursuant to the Federal Home Loan Bank of 

31

Indianapolis Incentive Plan will immediately terminate in the event the Executive breaches any of the provisions of Section 1 or 3 and all outstanding awards will be forfeited.  Notwithstanding the foregoing:
		
	a.
	the Executive's covenants set forth in Sections 1 or 3 will continue in full force and effect and be binding upon the Executive;

		
	b.
	the Bank will be entitled to the remedies specified in Section 6; and

		
	c.
	the Bank will be entitled to its damages, costs and expenses (including, without limitation, reasonable attorneys' fees and expenses) resulting from or relating to the successful prosecution of the Executive's breach of any of the provisions of Section 1 or 3.

5.    Survival of Certain Provisions.  Upon any termination of the Executive's employment with the Bank, the Executive and the Bank hereby expressly agree that the provisions of Sections 1, 3, 4 and 6 will continue to be in full force and effect and binding upon the Executive and the Bank in accordance with the applicable respective provisions of such Sections.

6.    Remedies.  The Executive agrees that the Bank will suffer irreparable damage and injury and will not have an adequate remedy at law in the event of any actual, threatened or attempted breach by the Executive of any provision of Section 1 or 3.  Accordingly, in the event of a threatened, attempted or actual breach by the Executive of any provision of Section 1 or 3, in addition to all other remedies to which the Bank is entitled at law, in equity or otherwise, the Bank may be entitled to a temporary restraining order and a permanent injunction or a decree of specific performance of any provision of Section 1 or 3.  The foregoing remedies will not be deemed to be the exclusive rights or remedies of the Bank for any breach of or noncompliance with this Agreement by the Executive but will be in addition to all other rights and remedies available to the Bank at law, in equity or otherwise.

7.    Severability.  In case any one or more of the provisions (or any portion thereof) contained herein will, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect any other provision of this Agreement, but this Agreement will be construed as if such invalid, illegal or unenforceable provision or provisions (or portion thereof) had never been contained herein.  If any provision of this Agreement will be determined by a court of competent jurisdiction to be unenforceable because of the provision's scope, duration or other factor, then such provision will be considered divisible and the court making such determination will have the power to reduce or limit (but not increase or make greater) such scope, duration or other factor or to reform (but not increase or make greater) such provision to make it enforceable to the maximum extent permitted by law, and such provision will then be enforceable against the appropriate party hereto in its reformed, reduced or limited form; provided, however, that a provision will be enforceable in its reformed, reduced or limited form only in the particular jurisdiction in which a court of competent jurisdiction makes such determination.

8.    Entire Agreement.  This Agreement sets forth the entire understanding of the parties hereto with respect to its subject matter, merges and supersedes all prior and contemporaneous understandings with respect to its subject matter, and may not be waived or modified, in whole or in part, except in writing signed by each of the parties hereto.  No waiver of any provision of this Agreement in any instance will be deemed to be a waiver of the same or any other provision in any other instance.  The recitals set forth above are incorporated herein by this reference.

9.    Effect and Modification.  No statement or promise, except as set forth herein, has been made with respect to the subject matter of this Agreement.  No modification or amendment will be effective unless in writing and signed by the Executive and an officer of the Bank (other than the Executive).
10.    Non-Waiver.  The Bank's or the Executive's failure or refusal to enforce all or any part of, 

32

or the Bank's or the Executive's waiver of any breach of this Agreement, will not be a waiver of the Bank's or the Executive's continuing or subsequent rights under this Agreement, nor will such failure or refusal or waiver have any effect on the subsequent enforceability of this Agreement.

11.    Non-Assignability.  This Agreement contemplates that the Executive will personally provide the services described herein, and accordingly, the Executive may not assign the Executive's rights or obligations hereunder, whether by operation of law or otherwise, in whole or in part, without the prior written consent of the Bank.

12.    Notice.  Any notice, request, instruction or other document to be given hereunder to any party will be in writing and delivered by hand, telegram, registered or certified United States mail return receipt requested, or other form of receipted delivery, with all expenses of delivery prepaid, as follows:

If to the Executive:        _________________________
_________________________
_________________________
_________________________
If to the Bank:         Federal Home Loan Bank of Indianapolis
c/o General Counsel
8250 Woodfield Crossing Blvd.
Suite 400
Indianapolis, IN 46240
13.    Governing Law.  This Agreement is being delivered in and will be governed by the laws of the State of Indiana without regard to the choice of law principles thereof.  Any dispute regarding this Agreement will be brought in any Indiana state or federal court having jurisdiction in the matter and located in Marion County, Indiana, and the Executive expressly consents to the jurisdiction of such courts.

14.    Prior Agreements.  The Executive represents and warrants to the Bank that the Executive is not a party to or otherwise bound by any agreement that would restrict in any way the performance by the Executive of the Executive's duties, services and obligations under this Agreement, that the Executive has disclosed to the Bank all employment type agreements to which the Executive has been bound, including without limitation employment agreements, consulting agreements, non-compete agreements or covenants, confidentiality or non-disclosure agreements or covenants, and intellectual property assignment agreements, and that the Bank will not have any liability to any third party arising out of the Executive entering into this Agreement or performing hereunder.

15.    Effect of Headings.  The descriptive headings of the Sections and, where applicable, subsections, of this Agreement are inserted for convenience and identification only and do not constitute a part of this Agreement for purposes of interpretation.

16.    Counterparts.  This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which collectively will constitute one and the same instrument.

17.    Miscellaneous.  Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Plan.

33

IN WITNESS WHEREOF, the Bank, by its officer thereunder duly authorized, and the Executive, have caused this Non-Competition, Non-Solicitation and Non-Disclosure Agreement to be executed as of the day and year first above written.
FEDERAL HOME LOAN BANK
OF INDIANAPOLIS                EXECUTIVE
By: __________________________        _____________________________________            
Its:  __________________________    

By:  __________________________        
Its:  __________________________        

34aena_ex101.htm

EXHIBIT 10.1

 

SETTLEMENT AGREEMENT AND MUTUAL RELEASE

 

This SETTLEMENT AGREEMENT AND MUTUAL RELEASE (the “Agreement”) is made and shall be effective as of August 28, 2013, by and between Adrenalina, Inc. (“Adrenalina”), Gigantic Parfums, LLC and Ilia Lekach (the “Adrenalina Parties”), on the one hand, and Selena Gomez and July Moon Productions, Inc. (the “Gomez Parties”) on the other. Collectively, the above-referenced entities and individuals shall be referred to herein as the “Parties.”

 

RECITALS

 

WHEREAS, a dispute has arisen between the Adrenalina Parties and the Gomez Parties regarding a Licensing Agreement (“Licensing Agreement Dispute”) entered into between Adrenalina, on the one hand, and the Gomez Parties, on the other, on or about June 14, 2011 (the “Licensing Agreement”);

WHEREAS, the Licensing Agreement Dispute is the subject of allegations set forth in the pending action filed by Adrenalina in Los Angeles County Superior Court, entitled Adrenalina Incorporated vs. July Moon Productions, Inc., and Selena Gomez, Case No. SC120598 (the “Action”);

WHEREAS, the Gomez Parties filed cross-claims in the action against the Adrenalina Parties and intended to file additional cross-claims (collectively, the “Cross-Claims”);

WHEREAS, the Parties desire to fully and completely resolve all disputes associated with, or in any way related to, the Licensing Agreement Dispute, and any other disputes or matters of any nature that were asserted or may or could have been asserted by the Parties against each other in the Action (collectively, the “Disputes”);

WHEREAS, the Parties have agreed to compromise their respective claims and defenses, in order to avoid the expense and uncertainty of further litigation. This Agreement is a compromise of disputed claims, and nothing contained herein is to be construed as an admission of fact or of liability on the part of any Party or of the absence of liability by any Party with respect to the Disputes.

NOW, THEREFORE, in consideration of the covenants, agreements, representations, and warranties contained in this Agreement, and for valid and binding consideration, the sufficiency of which is hereby acknowledged by the Parties, the Parties hereby agree as follows:

 

1.  Payment Upon Execution

 

The Gomez Parties shall pay Adrenalina Inc. the amount of $500,000 immediately upon mutual execution of this Agreement by wire transfer pursuant to wire instructions to be separately provided.

 

2.  Termination Of Licensing Agreement

 

By this Agreement, the Adrenalina Parties acknowledge that the Licensing Agreement has been terminated and they have no further right to develop, produce, manufacture, market, distribute and/or sell any products that it was otherwise entitled to develop, produce, manufacture, market, distribute and/or sell under the Licensing Agreement except as set forth in this Agreement. For the avoidance of doubt, the Parties hereby acknowledge that the Gomez Parties are and shall be the sole owners of any intellectual property relating to the License Agreement and/or the Products and/or Trademark (as those terms are defined under the License Agreement), including without limitation juices, product formulas, product specifications, chemical and mineral compositions, and product names, molds, and bottle and cap designs.

Adrenalina will immediately inform in writing the manufacturers in possession of the molds that the Gomez Parties are the owners of the molds and any technical drawings, and will cooperate in any efforts by the Gomez Parties to have the molds shipped to her designee in the United States or elsewhere at the Gomez Parties’ expense.

The Adrenalina Parties shall be prohibited from using or otherwise exploiting Selena Gomez's name, image, likeness, persona and/or other publicity rights for any purpose whatsoever other than in connection with the Adrenalina Parties' sell-off rights outlined in Section 4 herein.

 

  

1

  

3.  The Gomez Parties’ Royalty Payment To Adrenalina

 

Upon the Gomez Parties (or any new or existing entity owned by or affiliated with Gomez and/or July Moon Productions Inc.) licensing and/or assigning the right to use Gomez’s name and/or likeness in connection with the manufacture and/or distribution of perfume (the “New Perfume Agreement”) in any territory worldwide (whether in one or more new agreements), the Gomez Parties shall pay to Adrenalina one and one-half percent (1.5%) of the Net Sales (as that term is defined and upon which the Gomez Parties’ royalties are calculated under the New Perfume Agreement(s)) for a five-year period. For the sake of clarity, the Adrenalina Parties are entitled to 1.5% of Net Sales upon which the Gomez Parties’ royalties are calculated under the New Perfume Agreement(s), and not 1.5% of the Gomez Parties’ share of the royalty. If the New Perfume Agreement is for a term of less than five (5) years, Adrenalina is entitled to the same royalty on the Gomez Parties’ next perfume license so that Adrenalina receives royalties for a full five years.

(a) The Gomez Parties will provide to Adrenalina a copy of the relevant financial terms (including but not limited to the minimum annual sales for the first five years) of the New Perfume Agreement(s) within five (5) days of execution, and Adrenalina agrees to keep confidential the terms of New Perfume Agreement(s) unless Adrenalina needs to enforce its rights under the Agreement pursuant to Paragraph 9.

(b) The payments due from the Gomez Parties to the Adrenalina Parties under this paragraph 3 shall be due within five (5) business days of the Gomez Parties' actual receipt of royalty payments under the New Perfume Agreement.

 

(c) Along with each payment made under paragraph 3 of this Agreement, Gomez shall provide the Adrenalina Parties a copy of the most recent royalty statement provided to the Gomez Parties under the New Perfume Agreement.

(d) All payments and royalty statements due by Gomez to the Adrenalina Parties pursuant to this provision shall be directed to the following address:

Ilia Lekach Adrenalina Inc.

1250 Hallandale Blvd., #420 Hallandale Beach, FL 33009

 

4.  The Adrenalina Parties’ Sell-Off Rights

 

The Adrenalina Parties are currently in possession of components listed on Exhibit A (the “Perfume Components”), which are components designed specifically for the perfume manufactured and distributed by the Adrenalina Parties pursuant to the Licensing Agreement (the “Gomez Perfume”). The Adrenalina Parties shall have thirty (30) days from the last date of mutual execution of this Agreement, or September 5, 2013, whichever comes later (the “Sell-Off Period”) to use the Perfume Components to sell units of the Gomez Perfume to wholesalers, among others. For the sake of clarity, the Adrenalina Parties shall be prohibited from manufacturing or otherwise assembling any Perfume Components, and/or taking any new orders, of Gomez Perfume following the expiration of the Sell-Off Period, but they may ship Gomez Perfume up to seven (7) business days after the Sell-Off Period. The  Adrenalina  Parties represent and warrant that the components listed in Exhibit A are the only components that they have in their possession for manufacturing the Gomez Perfume and that they are not aware of any third party having any component for manufacturing the Gomez Perfume beyond those listed in Exhibit A.

(a) If additional components are required to convert the Perfume Components, including the perfume itself, into completed units of the Gomez Perfume during the Sell- Off Period, the Adrenalina Parties shall be entitled to purchase only such additional components which are necessary to convert the Perfume Components into completed units of the Gomez Perfume. Under no circumstances shall the Adrenalina Parties be permitted to sell units and/or styles in excess of the figures reflected in Exhibit A hereto.

(b) Adrenalina will only use images of Gomez previously approved by her for marketing of the Gomez Perfume during the Sell-Off Period.

(c) Within three (3) business days of the conclusion of the Sell-Off Period, the Adrenalina Parties shall pay to the Gomez Parties 5% of Wholesale Net Sales (as that term is defined in the Licensing Agreement) of the Gomez Perfume sold during the Sell- Off Period. The Adrenalina Parties shall provide to the Gomez Parties copies of all invoices from sales made by Adrenalina to wholesalers (or others) during the Sell-Off Period.

(d) If the Adrenalina Parties fail to pay the royalty due to the Gomez Parties pursuant to paragraph 3(b) of the this Agreement, the Adrenalina Parties shall pay to the Gomez Parties the sum of $250,000 in addition to any other remedies to which the Gomez Parties may be entitled to in law or in equity. Without limitation to the Gomez Parties' rights and remedies, the Gomez Parties shall be entitled to offset the amount owed against royalties payable by the Gomez Parties to the Adrenalina Parties under paragraph 3 of this Agreement.

  

2

  

(e) If the Adrenalina Parties accept new orders of the Gomez Perfume after the expiration of the Sell-Off Period or otherwise violate this provision by manufacturing, selling and/or distributing Perfume Components and/or the Gomez Perfume beyond expiration of the Sell-Off Period, the Adrenalina Parties shall pay to the Gomez Parties the amount of $250,000 in addition to any other remedies to which the Gomez Parties may be entitled to in law or in equity. In particular, the Adrenalina Parties acknowledge that in the event of a breach or threatened breach of this provision by the Adrenalina Parties, the Gomez Parties will suffer significant and irreparable harm that cannot be satisfactorily compensated in monetary terms and for which the Gomez Parties have no adequate remedy at law. Therefore, the Gomez Parties shall be entitled to obtain injunctive relief to enforce this provision, including without limitation a temporary restraining order, preliminary injunction and/or permanent injunction.

 

5.  Dismissal of the Action And All Cross-Claims With Prejudice

 

Within ten (10) calendar days of the execution of this Agreement, the parties shall execute and cause to be filed a Notice of Dismissal of the Action, dismissing the Action, including the Cross-Claims, in their entirety with prejudice. In accordance with Section 9 below, the Parties agree that the Court will retain jurisdiction over the parties to enforce the settlement until performance in full of the terms of this Agreement pursuant to California Code of Civil Procedure Section 664.6.

 

6.  Mutual and General Releases

 

(a) Definition of “Affiliated Parties”. As used in this Agreement, the term “Affiliated Parties” shall refer to a party’s owners, affiliates, partners, members, managers, directors, officers, shareholders, parent corporations, partnerships, trusts, beneficiaries, agents, representatives, administrators, predecessors, successors, assigns, principals, subsidiaries, divisions, insurers and insurance companies, attorneys, employers and employees, and each of them.

(b) Releases by the Adrenalina Parties. Except for the rights and obligations arising under this Agreement, upon full execution and delivery of this Agreement by all Parties, in consideration of the mutual promises and covenants undertaken herein, the Adrenalina Parties for themselves and for their Affiliated Parties, and each of them, do fully and forever relieve, release and discharge the Gomez Parties and their Affiliated Parties, including without limitation Creative Artists Agency and Christian Carino, from any and all claims, debts, liabilities, demands, obligations, promises, acts, agreements, fees, disbursements, costs, and expenses (including, but not limited to, actual attorneys’ fees and costs), accounts, liens, damages, warranties, actions, causes of action and claims for relief that the Adrenalina Parties and their Affiliated Parties now have or may have in the future against the Gomez Parties and their Affiliated Parties for any reason whatsoever, whether known or unknown, suspected or unsuspected, concealed or overt, patent or latent, contingent or certain, at law or in equity, of any nature, arising from or relating to any facts and/or circumstances existing at the time of this Agreement, including but not limited to any such matters that arise out of, or are in any way related to the Disputes, or that arise out of, or are in any way related to, disputes or matters among the parties prior to the effective date of this Agreement, and any other disputes or matters that may or could have been brought by the Adrenalina Parties and their Affiliated Parties against the Gomez Parties or their Affiliated Parties, in connection therewith or in connection with the Licensing Agreement.

(c) Releases by Gomez Parties. Except for the rights and obligations arising under this Agreement, upon full execution and delivery of this Agreement by all Parties, in consideration of the mutual promises and covenants undertaken herein, the Gomez Parties, for themselves and for their Affiliated Parties, and each of them, do fully and forever relieve, release and discharge the Adrenalina Parties and their Affiliated Parties, and each of them, from any and all claims, debts, liabilities, demands, obligations, promises, acts, agreements, fees, disbursements, costs, and expenses (including, but not limited to, actual attorneys’ fees and costs), accounts, liens, damages, warranties, actions, causes of action and claims for relief, including without limitation, trademark and/or right of publicity claims, that the Gomez Parties, and their Affiliated Parties now have or may have in the future against the Adrenalina Parties and their Affiliated Parties, for any reason whatsoever, whether known or unknown, suspected or unsuspected, concealed or overt, patent or latent, contingent or certain, at law or in equity, of any nature, arising from or relating to any facts and/or circumstances existing at the time of this Agreement, including but not limited to any such matters that arise out of, or are in any way related to, the Disputes, or that arise out of, or are in any way related to, disputes or matters among the parties prior to the effective date of this Agreement, and any other disputes or matters that may or could have been brought by the Gomez Parties, or their Affiliated Parties against the Adrenalina Parties or their Affiliated Parties, in connection therewith or in connection with the Licensing Agreement.

 

(d) Covenant Not to Sue. The Parties, or any of them, shall not initiate or prosecute by claim, cross-claim, counter-claim, third party claim or otherwise, any claim or action against any party to this Agreement (including all Affiliated Parties released under this Agreement), before any state or federal agency, court or other tribunal of competent jurisdiction which in any manner relates to any or all of the matters which are released in this Agreement, except for enforcement of the obligations of the Parties under this Agreement.

 

7.  Waiver of California Civil Code § 1542

 

(a) Waiver. The Parties understand and agree that the releases contained herein extend to all claims of any nature and kind whatsoever related to claims or facts arising from the Disputes or the Parties’ Agreements. In that regard, the Parties, and each of them, acknowledge that they are familiar with the provisions of Section 1542 of the California Civil Code which reads as follows:

 

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW  OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME   OF   EXECUTING   THE   RELEASE,   WHICH   IF

 

KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.

 

The Parties, and each of them, hereby knowingly and voluntarily waive any and all rights they may have under Section 1542.

  

3

  

(b) Subsequent Facts. In connection with the waiver and relinquishment of the rights described in Section 1542, the Parties, and each of them, acknowledge that they may hereafter discover facts in addition to or different from those which they know or believe to be true with respect to the releases contained in this Agreement, but that it is their intention fully, finally and forever to settle and release the matters, disputes and differences, whether known or unknown, suspected or unsuspected, concealed or overt, patent or latent, contingent or certain, at law or in equity, that arise out of, or in any way relate to the Disputes or to the Parties’ Agreements, prior to the effective date of this Agreement, and any other matters that may or could have been brought by the Parties in connection therewith, which may now exist or heretofore have existed with the other Parties. This release shall be and remain in effect as a full and complete release notwithstanding the subsequent discovery or existence of any additional or different facts.

 

8.  Provisions of License Agreement Still in Effect

 

Notwithstanding Section 2 regarding termination of the License Agreement, the following provisions of the License Agreement remain in effect subject to the modifications set forth below:

	
§  

	
Paragraph 13 except  that the Parties acknowledge the License Agreement itself is a public document

	
§  

	
Paragraph 15 except for the second sentence of 15(a)

	
§  

	
Paragraph 16

	
§  

	
Paragraph 17

	
§  

	
Paragraph 18(d) and 18(g)

 

	
§  

	
Paragraph 24

 

9.  No Admission of Liability

 

It is understood and agreed that the settlement which is the subject of this Agreement is a compromise of disputed claims and that any consideration given, or the fact that this settlement was entered into, is not to be construed as an admission of liability by the Parties, or any of them individually. The Parties deny any liability and, by this instrument, intend merely to avoid further litigation. The settlement memorialized in this Agreement has been arrived at after thorough bargaining and negotiations at arm’s length and represents the final, mutually agreeable compromise.

 

10.  Enforcement of Agreement

 

The Parties agree that the Court will retain jurisdiction over the parties to enforce the settlement until performance in full of the terms of this Agreement pursuant to California Code of Civil Procedure Section 664.6.

 

11.  General Provisions

 

(a) No  Pending  Actions. Each party to this Agreement represents and warrants for the benefit of the other parties that he, she, it or they have not filed any lawsuit, arbitration proceeding, administrative action, or any other action, claim or proceeding of any kind against any of the Parties released hereunder (including any party’s Affiliated Parties), except for the Action.

(b) Warranty of No Assignment of Claims. Each party to the Agreement mutually warrants and represents to the other parties that no right, claim, cause of action, or demand, or any part thereof, which he, she, it or they have against the other Parties to this Agreement (including any party’s Affiliated Parties) has been or will be assigned, granted, or transferred in any way to any other person, entity, firm, or corporation, in any manner whatsoever.

(c) Successors. This Agreement is binding upon and shall inure to the benefit of the Parties hereto and to their respective predecessors-in-interest, successors, permitted assigns, agents, employees, board members, directors, officers, stockholders, members and affiliates.

  

4

  

(d) Agreement Read by Parties. Each party to this Agreement has read and fully understands all of the terms used and their significance. Each party hereto represents and warrants to and for the benefit of each other party that it has been represented by legal counsel of its own choice in the negotiation and preparation of this Agreement, that each Party has contributed to the drafting of this Agreement with the assistance of counsel, and that this Agreement is executed voluntarily without duress or undue influence on the part or on behalf of any other party.

(e) Complete Agreement; Amendment. This Agreement contains the entire agreement between the Parties hereto and supersedes all prior agreements, representations, warranties, statements, promises, and understandings, whether oral or written, with respect to the subject matter hereof. No party shall be bound by any oral or written agreements, representations, warranties, statements, promises, or understandings not specifically set forth in this Agreement or the exhibits hereto. This Agreement may not be amended, altered, or modified except by a writing signed by all Parties hereto.

(f) Other Assurances. Each of the Parties agrees to perform such further acts and to execute and deliver, at the reasonable request of the other Party, such further documents and other assurances reasonably necessary in connection with the performance of the Parties' obligations hereunder in order to carry out the intent of the Parties.

(g) Interpretation. No party or its counsel shall be deemed the drafter of this Agreement for purposes of construing the provisions hereof.   The language in all parts of this Agreement shall in all cases be construed according to its fair meaning and not strictly construed for or against any party hereto.

(h) Negotiation of the Agreement. This Agreement is the product of arms length negotiations and contains all the terms and conditions agreed upon by the Parties regarding the subject matter of this Agreement. This Agreement shall be deemed jointly negotiated and drafted and no single party shall be deemed to be the sole drafter of this Agreement.

(i) Governing Law. This Agreement has been entered into in the State of California and all questions with respect to this Agreement and the rights and liabilities of the Parties hereto shall be governed by the laws of that state as would apply to contracts wholly made and executed in that state.

(j) Definitions. All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular, or plural, as the identity of the person, persons, entity, or entities may require.

(k) Titles and Captions. Section titles or captions contained in this Agreement are inserted only as a matter of convenience and for reference, and in no way define, limit, extend, or describe the scope of this Agreement or the intent of any provision hereof.

(l) Authority to Execute Agreement. Each party or person executing this Agreement in a representative capacity on behalf of a corporate entity hereby represents that he or she is duly authorized by such entity to execute this Agreement on its behalf, and to bind it to the terms and conditions hereof.

(m) Severability. The provisions of this Agreement are severable, and if any one or more provisions shall be determined to be illegal, invalid, or unenforceable in whole or in part, the remainder of this Agreement and any partially unenforceable provisions to the extent enforceable, nevertheless shall be binding and enforceable.

(n) Attorneys’  Fees  and  Costs. Except as otherwise provided in this Agreement, each of the parties hereto shall pay all of its own costs, legal fees, and any other expenses incurred in connection with the Action. In the event of any arbitration or court proceeding arising from or relating to this Agreement, the prevailing party in that arbitration or litigation shall be entitled to his/her/its attorneys' fees and costs in connection therewith.

(o) Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. PDF signature pages shall be deemed original signature pages.

(p) Waiver. No failure or delay by a party to insist upon the strict performance of any term, condition, covenant or agreement of this Agreement, or to exercise any right, power or remedy hereunder or under law or consequent upon a breach hereof or thereof shall constitute a waiver of any such term, condition, covenant, agreement, right, power or remedy or of any such breach or preclude such party from exercising any such right, power or remedy at any later time or times.

 

  

5

  

12.  Notices

 

All notices or other communications required or permitted under this Agreement shall be in writing and shall be delivered by personal service, or by certified or registered mail, postage prepaid, return receipt requested, to the Parties hereto at the addresses herein set forth below:

If to Adrenalina Parties:

 

Ilia Lekach Adrenalina Inc.

1250 Hallandale Blvd., #420 Hallandale Beach, FL 33009

 

CC:

 

Keith D. Diamond

Law Offices of Keith D. Diamond 3440 Hollywood Blvd., #415

Hollywood, FL 33021 If to the Gomez Parties:

P.J. Shapiro, Esq.

Ziffren Brittenham, et al. LLP 1801 Century Park West

Los Angeles, CA 90067 CC:

 

Michael E. Weinsten, Esq. Lavely & Singer P.C.

2049 Century Park East, Suite 2400 Los Angeles, CA 90067

 

13.  Confidentiality

 

Except as otherwise provided herein, the terms of this Agreement shall be treated as strictly confidential. Accordingly, no Party or his/her/its Affiliated Parties shall, directly or indirectly, verbally or otherwise, disclose, discuss, disseminate, divulge, post, reveal, publish, publicize, or hint at any of the terms hereof to any person or entity, except as set in this section. Notwithstanding anything to the contrary above, a Party or his/her/its attorneys may disclose the terms of this Agreement to that Party's or attorney's attorney, tax or financial advisor or accountant, but only to the extent that such attorney, advisor or accountant requires such information for legitimate legal or tax or financial planning/tax reporting purposes and that any attorney, tax or financial advisor or accountant receiving such information is advised of the requirement of confidentiality and agrees to keep the terms hereof strictly confidential. A Party or his/her/its attorney may also disclose the terms of this Agreement as reasonably necessary in any judicial or arbitral proceeding to enforce the terms hereof, or to comply with reporting obligations to the government, including but not limited to the Securities Exchange Commission.

To the extent any Party, and/or his/her/its counsel or other representative, receives a lawful subpoena or other judicial compulsion seeking the disclosure of this Agreement or the terms herein, such Party shall immediately notify the other Party of such process in writing and shall allow such other Party at least five business days to object in writing to disclosure. The Party under compulsion of subpoena or judicial process shall not disclose any confidential information during the five day period and, if an objection is made by a Party seeking to avoid disclosure, the Party under compulsion shall refrain from disclosing any confidential information to the maximum extent permissible by law to afford the objecting party sufficient time to take appropriate legal action to prevent disclosure.

In response to any inquiry from any person or entity concerning the Action and/or resolution thereof, a Party and/or his/her/its representatives may respond only that “the Parties have amicably resolved their differences,” or words to that effect, or may provide no response at all.

  

6

  

 

IN WITNESS WHEREOF, the parties have caused this Settlement Agreement and Mutual Release to be executed as follows.

	

Date:  September 6, 2013

	
 

	 /s/ Ilia Lekach	 
	 	 	
ILIA LEKACH

	 
	 	 	 	 
	 	 	 	 
	 	ADRENALINA, INC.	 
	 	 	 	 
	
 
Date:  September 6, 2013

	By: 	/s/ Ilia Lekach	 
	 	Name:	Ilia Lekach	 
	 	Title:	President	 
	 	 	 	 
	 	 	 	 
	 	
GIGANTIC PARFUMS, LLC

	 
	 	 	 	 
	
 
Date:  September 6, 2013

	By:	/s/ Ilia Lekach	 
	 	Name:	Ilia Lekach	 
	 	Title:	President	 
	 	 	 	 
	 	 	 	 
	 	
JULY MOON PRODUCTIONS, INC.

	 
	 	 	 	 
	
 
Date:  September 9, 2013

	By:	/s/ Selena Gomez	 
	 	Name:	Selena Gomez	 
	 	Title:	President	 
	 	 	 	 
	 	 	 	 
	
 
Date:  September 9, 2013

	 	/s/ Selena Gomez	 
	 	 	
SELENA GOMEZ

	 
	 	 	 	 
	 	 	 	 

 

  

7

  

 

EXHIBIT A

	ITEM	 	ITEM DESCRIPTION	 	QTY ON HAND	 	 	
IN TRANSIT

	 	 	TOTAL AVAILABLE	 	 	COST	 	 	TOTAL	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
Selena Gomez Raw Materials

	 	 	 	 	 	 	 	 	 
	
ADR‐ACTCOVER30ML AA

	 	
Selena Gomez Parts:30ml Actuator Cover

	 	 	1,597	 	 	 	 	 	 	1,597	 	 	
‐

	 	 	
‐

	 
	
ADR‐BOT100ML AA

	 	
Selena Gomez Parts:100 ml Bottle

	 	 	11,861	 	 	 	 	 	 	11,861	 	 	 	0.630	 	 	 	7,472.43	 
	
ADR‐BOT30ML AA

	 	
Selena Gomez Parts:30 ml Bottle

	 	 	9,955	 	 	 	16,000	 	 	 	25,955	 	 	 	0.500	 	 	 	12,977.50	 
	
ADR‐BOT50ML AA

	 	
Selena Gomez Parts:50 ml Bottle

	 	 	26,560	 	 	 	 	 	 	 	26,560	 	 	 	0.510	 	 	 	13,545.60	 
	
ADR‐BOX100ML AA

	 	
Selena Gomez Parts:100 ml Box

	 	 	32,614	 	 	 	 	 	 	 	32,614	 	 	 	0.490	 	 	 	15,980.86	 
	
ADR‐BOX30ML AA

	 	
Selena Gomez Parts:30 ml Box

	 	 	57,225	 	 	 	 	 	 	 	57,225	 	 	 	0.400	 	 	 	22,890.00	 
	
ADR‐BOX50ML AA

	 	
Selena Gomez Parts:50 ml Box

	 	 	28,627	 	 	 	 	 	 	 	28,627	 	 	 	0.420	 	 	 	12,023.34	 
	
ADR‐CAP100ML AA

	 	
Selena Gomez Parts:100 ml Cap Prod Lips‐Protector

	 	 	13,075	 	 	 	 	 	 	 	13,075	 	 	 	2.100	 	 	 	27,457.50	 
	
ADR‐CAP30ML AA

	 	
Selena Gomez Parts:30 ml Cap Prod Lips‐Protector

	 	 	9,351	 	 	 	18,700	 	 	 	28,051	 	 	 	2.100	 	 	 	58,907.10	 
	
ADR‐CAP50ML AA

	 	
Selena Gomez Parts:50 ml Cap Prod Lips‐Protector

	 	 	26,610	 	 	 	 	 	 	 	26,610	 	 	 	2.100	 	 	 	55,881.00	 
	
ADR‐CELLPARTITION AA

	 	
Selena Gomez Parts:100 ml WIP Shipper x 24

	 	 	238	 	 	 	 	 	 	 	238	 	 	 	1.780	 	 	 	423.64	 
	
ADR‐CHIP100ML AA

	 	
Selena Gomez Parts:100 ml Packer x 3

	 	 	4,065	 	 	 	 	 	 	 	4,065	 	 	 	0.470	 	 	 	1,910.55	 
	
ADR‐CHIP30ML AA

	 	
Selena Gomez Parts:30 ml Packer x 3

	 	 	13,763	 	 	 	 	 	 	 	13,763	 	 	 	0.300	 	 	 	4,128.90	 
	
ADR‐CHIP50ML AA

	 	
Selena Gomez Parts:50 ml Packer x 3

	 	 	11,700	 	 	 	 	 	 	 	11,700	 	 	 	0.360	 	 	 	4,212.00	 
	
ADR‐DEEPBOX30ML AA

	 	
Selena Gomez Parts:30ml Deep Box

	 	 	684	 	 	 	 	 	 	 	684	 	 	 	1.070	 	 	 	731.88	 
	
ADR‐DEEPCHP30ML AA

	 	
Selena Gomez Parts:30ml Packer

	 	
‐

	 	 	 	 	 	 	
‐

	 	 	 	0.700	 	 	
‐

	 
	
ADR‐DEEPMASTER30ML AA

	 	
Selena Gomez Parts:30ML DEEP BOX SHIPPER

	 	
‐

	 	 	 	 	 	 	
‐

	 	 	 	0.896	 	 	
‐

	 
	
ADR‐DOWN15ML AA

	 	
Selena Gomez Parts:15ml Down Cap

	 	 	6,576	 	 	 	 	 	 	 	6,576	 	 	 	0.150	 	 	 	986.40	 
	
ADR‐GSBOX163290 AA

	 	
Selena Gomez Parts:30ml Gift Set Window Box

	 	 	5,672	 	 	 	 	 	 	 	5,672	 	 	 	 	 	 	
‐

	 
	
ADR‐GSBOX162990L AA

	 	
Selena Gomez Parts: 100 ml Gift Set Box

	 	 	9,475	 	 	 	 	 	 	 	9,475	 	 	 	 	 	 	
‐

	 
	
ADR‐INNERDEEP30ML AA

	 	
Selena Gomez Parts:30ml Inner Deep Carton

	 	 	1,426	 	 	 	 	 	 	 	1,426	 	 	
‐

	 	 	
‐

	 
	
ADR‐INNER100ML AA

	 	
Selena Gomez Parts:100ml Inner Carton

	 	 	7,427	 	 	 	 	 	 	 	7,427	 	 	
‐

	 	 	
‐

	 
	
ADR‐INNER30ML AA

	 	
Selena Gomez Parts:30 ml Inner Carton

	 	 	57,350	 	 	 	 	 	 	 	57,350	 	 	
‐

	 	 	
‐

	 
	
ADR‐INNER50ML AA

	 	
Selena Gomez Parts:50 ml Inner Carton

	 	 	36,981	 	 	 	 	 	 	 	36,981	 	 	
‐

	 	 	
‐

	 
	
ADR‐LABEL100ML AA

	 	
Selena Gomez Parts:100 ml Bottom Label

	 	 	12,218	 	 	 	 	 	 	 	12,218	 	 	 	0.020	 	 	 	244.36	 
	
ADR‐MASTER100ML AA

	 	
Selena Gomez Parts:100 ml Shipper x 12

	 	
‐

	 	 	 	 	 	 	
‐

	 	 	 	0.700	 	 	
‐

	 
	
ADR‐MASTER30ML AA

	 	
Selena Gomez Parts:30 ml Shipper x 12

	 	 	661	 	 	 	 	 	 	 	661	 	 	 	0.700	 	 	 	462.70	 
	
ADR‐MASTER4PC AA

	 	
Selena Gomez Parts:4PC Set Shipper

	 	 	1,667	 	 	 	 	 	 	 	1,667	 	 	 	0.980	 	 	 	1,633.66	 
	
ADR‐MASTER50ML AA

	 	
Selena Gomez Parts:50 ml Shipper x 12

	 	 	2,760	 	 	 	 	 	 	 	2,760	 	 	 	0.700	 	 	 	1,932.00	 
	
ADR‐MASTWINDOW‐GS AA

	 	
Selena Gomez Parts: Gift Set Shipper x 6

	 	 	933	 	 	 	 	 	 	 	933	 	 	 	2.260	 	 	 	2,108.58	 
	
ADR‐PUMP100ML AA

	 	
Selena Gomez Parts:100 ml Bottle Pump

	 	 	51,393	 	 	 	 	 	 	 	51,393	 	 	 	0.230	 	 	 	11,820.39	 
	
ADR‐PUMP30ML AA

	 	
Selena Gomez Parts:30 ml Bottle Pump

	 	
‐

	 	 	 	42,298	 	 	 	42,298	 	 	 	0.280	 	 	 	11,843.44	 
	
ADR‐PUMP50ML AA

	 	
Selena Gomez Parts:50 ml Bottle Pump

	 	 	78,450	 	 	 	 	 	 	 	78,450	 	 	 	0.230	 	 	 	18,043.50	 

  

8

  

	ITEM	 	ITEM DESCRIPTION	 	QTY ON HAND	 	
IN TRANSIT

	 	TOTAL AVAILABLE	 	 	COST	 	 	TOTAL	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
ADR‐PURSEBOT10ML AA

	 	
Selena Gomez Parts: 10 ml Purse Bottle

	 	 	181	 	  	 	 	181	 	 	 	0.760	 	 	 	137.56	 
	
ADR‐PURSECAP10ML AA

	 	
Selena Gomez Parts:10ml Metal Shoulder

	 	 	826	 	  	 	 	826	 	 	 	0.160	 	 	 	132.16	 
	
ADR‐SHLDR100/50ML AA

	 	
Selena Gomez Parts:100ml and 50ml Metal Shoulder

	 	 	45,947	 	  	 	 	45,947	 	 	 	0.090	 	 	 	4,135.23	 
	
ADR‐SLEEVE30ML AA

	 	
Selena Gomez Parts:30ml Selena Gomez Sleeve

	 	 	869	 	  	 	 	869	 	 	
‐

	 	 	
‐

	 
	
ADR‐SPRAYER15ML AA

	 	
Selena Gomez Parts:15ml Cap Prod Lips‐Protector

	 	 	5,507	 	  	 	 	5,507	 	 	 	0.150	 	 	 	826.05	 
	
ADR‐SPRYER10ML AA

	 	
Selena Gomez Parts:10ml Cap Prod Lips‐Protector

	 	 	3,856	 	  	 	 	3,856	 	 	 	0.830	 	 	 	3,200.48	 
	
ADR‐TESTERLABEL AA

	 	
Selena Gomez Parts:Tester Label

	 	 	99,350	 	  	 	 	99,350	 	 	 	0.010	 	 	 	993.50	 
	
ADR‐TSTBOX100ML AA

	 	
Selena Gomez Parts:100ml Tester Box

	 	 	22,099	 	  	 	 	22,099	 	 	 	0.610	 	 	 	13,480.39	 
	
ADR‐UPPER15ML AA

	 	
Selena Gomez Parts:15ml Upper‐Cap

	 	 	6,864	 	  	 	 	6,864	 	 	 	0.150	 	 	 	1,029.60	 
	
ADR‐UT279099/00 AA

	 	
Selena Gomez Parts:Selena Mod 2 @ 18%

	 	 	279	 	  	 	 	279	 	 	 	14.780	 	 	 	4,123.62	 
	
ADR‐VACFORM161790 AA

	 	
Selena Gomez Parts: 30 ml Selena Gomez PVC Vacform

	 	 	5,984	 	  	 	 	5,984	 	 	
‐

	 	 	
‐

	 
	
ADR‐VIALBOT2ML AA

	 	
Selena Gomez Parts:10ml WIP Purse Fill & Assembly

	 	 	240,000	 	  	 	 	240,000	 	 	 	0.130	 	 	 	31,200.00	 
	
ADR‐VIALCAP2ML AA

	 	
Selena Gomez PartsL 2ml Vial Cap

	 	 	240,000	 	  	 	 	240,000	 	 	
‐

	 	 	
‐

	 
	
ADR‐VIALCARD AA

	 	
Selena Gomez 2ml Vial Card

	 	 	342,000	 	  	 	 	342,000	 	 	 	0.040	 	 	 	13,680.00	 
	
ADR‐BLTUBE50ML AA

	 	
Selena Gomez Parts:50 ml Body Lotion Tube

	 	 	16,028	 	  	 	 	16,028	 	 	 	0.610	 	 	 	9,777.08	 
	
ADR‐BOXB/L200ML AA

	 	
Selena Gomez 200ml Body Lotion Box

	 	 	2,085	 	  	 	 	2,085	 	 	 	0.450	 	 	 	938.25	 
	
ADR‐INNERB/L200ML AA

	 	
Selena Gomez 200ml Body Lotion Inner Carton

	 	 	2,422	 	  	 	 	2,422	 	 	
‐

	 	 	
‐

	 
	
ADR‐OILB/L AA

	 	
Selena Body Lotion Oil UAB07377/00

	 	 	12	 	  	 	 	12	 	 	 	69.400	 	 	 	864.03	 
	
ADR‐OILS/G AA

	 	
Selena Shower Gel UAA01048/00

	 	 	7	 	  	 	 	7	 	 	 	69.400	 	 	 	461.51	 
	
ADR‐SGTUBE50ML AA

	 	
Selena Gomez Parts: 50 ml Shower Gel Tube

	 	 	15,755	 	  	 	 	15,755	 	 	 	0.610	 	 	 	9,610.55	 
	
SK‐33‐27 AA

	 	
SELENA GOMEZ VIVAMORE BODY LOTION

	 	 	579	 	  	 	 	579	 	 	 	3.143	 	 	 	1,819.80	 
	
SK‐33‐29 AA

	 	
SELENA GOMEZ SHIMMER BODY LOTION

	 	 	33	 	  	 	 	33	 	 	 	3.143	 	 	 	102.15	 
	
SK‐33‐54 AA

	 	
GIGANTIC PARFUMS/SELENA GOMEZ VIVAMORE SHOWER G

	 	 	1,786	 	  	 	 	1,786	 	 	 	4.758	 	 	 	8,495.41	 
	
Total Selena Gomez Raw Materials

	 	 	
 392,624.69

	 
	
SG Vivamore Raw Materials

	 	  	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 
	
S2R‐BOT100ML AA

	 	
SG Vivamore Parts:100 ml Bottle

	 	 	3,053	 	
‐

	 	 	3,053	 	 	 	0.710	 	 	 	2,167.63	 
	
S2R‐BOT30ML AA

	 	
SG Vivamore Parts:30 ml Bottle

	 	 	253	 	
‐

	 	 	253	 	 	 	0.500	 	 	 	126.50	 
	
S2R‐BOT50ML AA

	 	
SG Vivamore Parts:50 ml Bottle

	 	 	4,266	 	
‐

	 	 	4,266	 	 	 	0.530	 	 	 	2,260.98	 
	
S2R‐BOX100ML AA

	 	
SG Vivamore Parts:100ml Box

	 	 	216	 	
‐

	 	 	216	 	 	 	0.850	 	 	 	183.60	 
	
S2R‐BOX30ML AA

	 	
SG Vivamore Parts:30ml Box

	 	 	23,225	 	
‐

	 	 	23,225	 	 	 	0.650	 	 	 	15,096.25	 
	
S2R‐BOX50ML AA

	 	
SG Vivamore Parts:50ml Box

	 	 	2,260	 	
‐

	 	 	2,260	 	 	 	0.680	 	 	 	1,536.80	 
	
S2R‐CAPPROD100ML AA

	 	
SG Vivamore Parts:100 ml Cap Prod Lips‐Protector

	 	 	6,634	 	
‐

	 	 	6,634	 	 	 	1.830	 	 	 	12,140.22	 
	
S2R‐CAPPROD30ML AA

	 	
SG Vivamore Parts:30 ml Cap Prod Lips‐Protector

	 	 	392	 	
‐

	 	 	392	 	 	 	1.810	 	 	 	709.52	 

 

  

9

  

	ITEM	 	ITEM DESCRIPTION	 	 	QTY ON HAND	 	 	
IN TRANSIT

	 	 	TOTAL AVAILABLE	 	 	COST	 	 	TOTAL	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
S2R‐CAPPROD50ML AA

	 	
SG Vivamore Parts:50 ml Cap Prod Lips‐Protector

	 	 	
‐

	 	 	 	5,150	 	 	 	5,150	 	 	 	2.810	 	 	 	14,471.50	 
	
S2R‐DEEPBOX30ML AA

	 	
SG Vivamore Parts:30ml Deep Box

	 	 	353	 	 	
‐

	 	 	 	353	 	 	1.200	 	 	423.60	 
	
S2R‐INNERDEEP30ML AA

	 	
SG Vivamore: 30ml Inner Deep Carton

	 	 	536	 	 	
‐

	 	 	 	536	 	 	-	 	 	
‐

	 
	
ADR‐GSBOX205190 AA

	 	
SG VIVAMORE Parts: 100ml 4 PC Gift Set Box

	 	 	5,180	 	 	
‐

	 	 	 	5,180	 	 	3.710	 	 	19,217.80	 
	
S2R‐LABEL100ML AA

	 	
Selena Gomez Vivamore: 100ml Bottom Label

	 	 	3,655	 	 	
‐

	 	 	 	3,655	 	 	0.010	 	 	36.55	 
	
S2R‐LABEL30ML AA

	 	
SG Vivamore Parts: 30ml Labels

	 	 	307	 	 	
‐

	 	 	 	307	 	 	0.010	 	 	3.07	 
	
S2R‐LABEL50ML AA

	 	
SG Vivamore Parts: 50ml Labels

	 	 	1,850	 	 	
‐

	 	 	 	1,850	 	 	0.010	 	 	18.50	 
	
S2R‐LINER100ML AA

	 	
SG Vivamore Parts:100ml Liner

	 	 	200	 	 	
‐

	 	 	 	200	 	 	
‐

	 	 	
‐

	 
	
S2R‐LINER30ML AA

	 	
SG Vivamore Parts:30ml Liner

	 	 	23,225	 	 	
‐

	 	 	 	23,225	 	 	
‐

	 	 	
‐

	 
	
S2R‐LINER50ML AA

	 	
SG Vivamore Parts:50ml Liner

	 	 	4,850	 	 	
‐

	 	 	 	4,850	 	 	
‐

	 	 	
‐

	 
	
S2R‐PURSEBOT10ML AA

	 	
SG Vivamore Parts:10 ml Purse Bottle

	 	 	201	 	 	
‐

	 	 	 	201	 	 	0.760	 	 	152.76	 
	
S2R‐SLEEVE30ML AA

	 	
SG Vivamore Parts:30ml Selena Gomez Sleeve

	 	 	586	 	 	
‐

	 	 	 	586	 	 	
‐

	 	 	
‐

	 
	
S2R‐TSTBOX100ML AA

	 	
Viva More Parts:100ml Tester Box

	 	 	1,015	 	 	
‐

	 	 	 	1,015	 	 	0.690	 	 	700.35	 
	
S2R‐UAB13973/00 AA

	 	
SG Vivamore Parts:So Selena Mod 3 @ 18%

	 	 	173	 	 	
‐

	 	 	 	173	 	 	14.780	 	 	2,556.94	 
	
S2R‐BLTUBE50ML AA

	 	
SG Vivamore Parts:50 ml Body Lotion Tube

	 	 	239	 	 	
‐

	 	 	 	239	 	 	0.610	 	 	145.79	 
	
S2R‐OILB/L AA

	 	
SG Vivamore Parts:Selena B/L Oil UAB17143/00

	 	 	6	 	 	
‐

	 	 	 	6	 	 	69.400	 	 	444.16	 
	
S2R‐OILS/G AA

	 	
SG Vivamore Parts:Selena Oil S/G UAC04665/00

	 	 	7	 	 	
‐

	 	 	 	7	 	 	69.400	 	 	461.51	 
	 	 	  Total SG Vivamore Raw Materials	 	 	
72,854.03

	 

 

Selena Gomez work in Progress

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
16.09.92 AA

	 	
Selena Gomez 1.7oz Shower Gel WIP

	 	 	

526

	 	 	 	-	 	 	 	
526

	 	 	 	
1.230

	 	 	 	
646.98

	 
	
16.12.92 AA

	 	
Selena Gomez 0.34 oz/10ml Purse Spray WIP

	 	 	
10,092

	 	 	
-

	 	 	 	
10,092

	 	 	
2.290

	 	 	
23,110.68

	 
	
16.18.92 AA

	 	
Selena Gomez 1.0 oz EDP WIP

	 	 	
1,759

	 	 	
-

	 	 	 	
1,759

	 	 	
3.640

	 	 	
6,402.76

	 
	Total Selena Gomez Work in Progress	 	 	30,160.42	 

 

Selena Gomez Vivamore work in Progress

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
20.06.92 AA

	 	
SG Vivamore 1.7oz Body Lotion WIP

	 	 	

5,200

	 	 	 	-	 	 	 	

5,200

	 	 	 	
1.130

	 	 	 	
5,876.00

	 
	
20.09.92 AA

	 	
SG Vivamore 1.7oz Shower Gel WIP

	 	 	
5,155

	 	 	
-

	 	 	 	
5,155

	 	 	
1.220

	 	 	
6,289.10

	 
	
20.12.92 AA

	 	
SG Vivamore 0.34 oz/10ml Purse Spray WIP

	 	 	
4,944

	 	 	
-

	 	 	 	
4,944

	 	 	
2.290

	 	 	
11,321.76

	 
	
Total SG Vivamore Work in Progress

	 	 	
23,486.86

Selena Gomez Finished Goods

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

13.30.84 AA

	 	
SG Vivamore Shopping Bags

	 	 	

15,000

	 	 	 	-	 	 	 	

15,000

	 	 	 	
0.970

	 	 	 	
14,550.00

	 
	

13.34.95

	 	
SG Puprple striped backpack

	 	 	-	 	 	

20,000

	 	 	 	
20,000

	 	 	
4.270

	 	 	
85,400.00

	 

 

  

10

  

	ITEM	 	ITEM DESCRIPTION	 	QTY ON HAND	 	
IN TRANSIT

	 	TOTAL AVAILABLE	 	 	COST	 	 	TOTAL	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
19.01.82 AA

	 	
SG VIVAMORE .88ML EDP VOC

	 	 	
249,740

	 	-	 	 	
249,740

	 	 	 	
0.330

	 	 	 	
82,414.20

	 
	
13.18.95 AA

	 	
SG Train Case

	 	 	
40

	 	-	 	 	
40

	 	 	 	
1.890

	 	 	 	
75.60

	 
	ADR‐PURPLEBAG AA	 	SG Purple Container	 	 	
32,299

	 	-	 	 	
32,299

	 	 	 	
0.780

	 	 	 	
25,193.22

	 
	13.24.95 AA	 	SG GWP Reversible Tote Bag	 	 	1	 	-	 	 	1	 	 	 	
2.900

	 	 	 	
2.90

	 
	
13.01.84 AA

	 	SG Blotter Cards	 	 	
108,700

	 	-	 	 	
108,700

	 	 	 	
0.020

	 	 	 	
2,174.00

	 
	Total Selena Gomez Finished Goods	 	 	 	
209,809.92

	 
	 	 	 	 	 	 
	
Total Inventory

	 	 	 	
728,935.92

	 

 

	 Description   	 	
Quantity

	 
	
SG 1.0oz/30ml EDP Spray

	 	 	25,000	 
	
SG 1.7oz/50ml EDP Spray

	 	 	25,000	 
	
SG 4pc gift set (100ml, BL, SG, 10ml Spray)

	 	 	10,000	 
	
Vivamore 4pc gift set (100ml, BL, SG, 10ml Spray)

	 	 	5,000	 

11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}]]