Document:

exh10-2_050609.htm

    

     

    Exhibit
10.2

     

     

    AMENDMENT
NO. 2

    to

    CREDIT
AGREEMENT

     

    THIS
AMENDMENT NO. 2 TO CREDIT AGREEMENT (the “Amendment”) is made
as of March 10, 2009 by and among TEXAS-NEW MEXICO POWER COMPANY (the “Borrower”), the
institutions from time to time parties thereto as Lenders (the “Lenders”), and
JPMORGAN CHASE BANK, N.A., in its capacity as Administrative Agent for itself
and the other Lenders (the “Administrative
Agent”) under that certain Credit Agreement dated as of May 15, 2008 by
and among the Borrower, the financial institutions party thereto, and the
Administrative Agent (as the same may be amended, restated, supplemented or
otherwise modified from time to time, the “Credit
Agreement”).  Defined terms used herein and not otherwise
defined herein shall have the meaning given to them in the Credit
Agreement.

     

    WITNESSETH

     

    WHEREAS,
the Borrower, the Lenders, and the Administrative Agent are parties to the
Credit Agreement; and

     

    WHEREAS,
the Borrower has requested that the Administrative Agent and the requisite
number of Lenders under Section 11.6 of the
Credit Agreement amend the Credit Agreement on the terms and conditions set
forth herein; and

     

    WHEREAS,
the Borrower, the requisite number of Lenders under Section 11.6 of the
Credit Agreement and the Administrative Agent have agreed to amend the Credit
Agreement on the terms and conditions set forth herein;

     

    NOW,
THEREFORE, in consideration of the premises set forth above, the terms and
conditions contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
have agreed to the following amendments to the Credit Agreement:

     

    1.  Amendments to the Credit
Agreement.  Effective as of March 10, 2009 (the “Effective Date”) and
subject to the satisfaction of the condition precedent set forth in Section 2 below, the
Credit Agreement is hereby amended as follows:

     

    
      	
              1.1.  

            	
              Section 1.1 to
      the Credit Agreement is amended to insert the following definitions in
      alphabetical order:

            

    

     

    “First Mortgage Bond
Trustee” has the meaning set forth in the definition of “Note Facilities
Documentation”.

     

    “1999 Indenture” has
the meaning set forth in the definition of “Note Facilities
Documentation”.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            

    

    “2009 Term Loan Credit
Agreement” means a term loan credit agreement to be dated on or before
April 1, 2009, between the Borrower and one or more lenders parties thereto,
including Union Bank, N.A. or any of its affiliates, individually and/or as
agent on behalf of such lenders, as it may be amended, supplemented, extended or
otherwise modified form time to time; provided that the Administrative Agent and
the Lenders shall have received satisfactory evidence that all of the
obligations outstanding under the 2008 Term Loan Credit Agreement shall have
been paid in full in cash, and the 2008 Term Loan Credit Agreement shall have
been terminated, prior to or substantially concurrently with the initial
incurrence of Indebtedness pursuant to the 2009 Term Loan Credit
Agreement.

     

    
      	
              1.2.  

            	
              Section 1.1 to
      the Credit Agreement is hereby amended to delete the definition of “Note Facilities
      Documentation” in its entirety, and to substitute the following
      therefor:

            

    

     

    “Note Facilities
Documentation” means (1) the First Mortgage Indenture dated on or before
April 1, 2009, between the Borrower and The Bank of New York Mellon Trust
Company, N.A., as Trustee (together with its permitted successors and assigns in
such capacity, the “First Mortgage Bond
Trustee”), the First Supplemental Indenture dated on or before April 1,
2009 issued pursuant thereto and any other supplemental indentures, notes or
other securities issued pursuant thereto or in connection therewith, as the same
may be amended, supplemented, extended or otherwise modified from time to time,
and/or (2) the Indenture dated as of January 1, 1999, between the Borrower and
The Bank of New York Trust Company, N.A. (as successor to JPMorgan Chase Bank,
N.A., formerly JPMorgan Chase Bank, as successor to Chase Bank of Texas, N.A.),
as Trustee (the “1999
Indenture”), the Third Supplemental Indenture issued pursuant thereto and
any other supplemental indentures, notes or other securities issued pursuant
thereto or in connection therewith, as the same may be amended, supplemented,
extended or otherwise modified from time to time; provided that the
Administrative Agent and the Lenders shall have received satisfactory evidence
that all of the obligations outstanding under the 2008 Term Loan Credit
Agreement shall have been paid in full in cash, and the 2008 Term Loan Credit
Agreement shall have been terminated, prior to or substantially concurrently
with the initial incurrence of Indebtedness pursuant to the Note Facilities
Documentation.

     

    
      	
              1.3.  

            	
              Section 8.5 to
      the Credit Agreement is hereby amended to delete subclause (q)
      thereof in its entirety, and to substitute the following
      therefor:

            

    

     

    (q)
Liens upon any property in favor of the First Mortgage Bond Trustee securing
Indebtedness under the Note Facilities Documentation and/or the 2009 Term Loan
Credit Agreement; provided that in the event that the aggregate principal amount
of Indebtedness secured by such Liens shall exceed $318,000,000 (i) the Borrower
Obligations shall concurrently be secured equally and ratably with (or prior to)
such Indebtedness so long as such other Indebtedness shall be secured and (ii)
the Borrower, the First Mortgage Bond Trustee and the Administrative Agent, for
the benefit of the Lenders, shall have entered into such supplemental indentures
and other documentation deemed necessary by the Administrative Agent in respect
of such Lien on terms and 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    conditions
acceptable to the Administrative Agent (including, without limitation, with
respect to the voting of claims and release or modification of any such Lien on
all or any portion of the collateral thereunder), and

     

    
      	
              1.4.  

            	
              Section 8.7 to
      the Credit Agreement is hereby amended to delete the current Section 8.7 in
      its entirety and to substitute the following new Section 8.7
      therefor:

            

    

     

    The
Borrower will not (nor will it permit any of its Subsidiaries to) enter into any
contractual obligation that limits the ability (a) of any Subsidiary of the
Borrower to make Restricted Payments to the Borrower or to otherwise transfer
property to the Borrower or (b) of the Borrower to create, incur, assume or
suffer to exist Liens on its property in favor of the Administrative Agent, for
the benefit of the Lenders, other than (i) any such contractual obligation
contained in the Credit Documents; (ii) any such contractual obligation
contained in the “Credit Documents” as defined in the 2008 Term Loan Credit
Agreement (as such contractual obligations in such “Credit Documents” exist as
of the date hereof without giving effect to any subsequent amendment or other
modification to such contractual obligations); (iii) any such contractual
obligation contained in the “Credit Documents” (or any similar term) defined in
the 2009 Term Loan Credit Agreement to the extent such contractual obligations
in such “Credit Documents” (or any similar term) shall be no less favorable to
the Administrative Agent and the Lenders than such contractual obligations set
forth in the 2008 Term Loan Credit Agreement as of the date hereof without
giving effect to any subsequent amendment or other modification to such
contractual obligations; and (iv) any such contractual obligation contained in
the Note Facilities Documentation (which contractual obligation shall be on
terms no less favorable to the Administrative Agent and the Lenders than such
contractual obligations set forth in the 1999 Indenture, the draft Third
Supplemental Indenture thereto (draft stamp:  “Draft of 2/13/2009
61544.5”) as provided to the Administrative Agent and the lenders on February
18, 2008, and the draft First Mortgage Indenture (draft stamp:  “TS
Draft 03/04/09” and “2018235 v.9”) as provided to the Administrative Agent and
the Lenders on March 4, 2009, without giving effect to any amendment or other
modification to such contractual obligations).

     

    2.  Conditions of
Effectiveness.  The effectiveness of this Amendment is subject
to the conditions precedent that the Administrative Agent shall have received
the following:

     

    
      	
              (A)    
       

            	
              duly
      executed originals of this Amendment from the Borrower, the requisite
      number of Lenders under Section 11.6 of
      the Credit Agreement and the Administrative
  Agent;

            

    

     

    
      	
              (B)      
      

            	
              the
      Amendment Fee (as defined below) payable for the account of each Lender
      executing this Amendment; and

            

    

     

    
      	
              (C)      

            	
              such
      other documents, instruments and agreements as the Administrative Agent
      may reasonably request.

            

    

     

    3.  Amendment
Fee.  Each Lender that delivers a duly executed signature page
to this Amendment to the Administrative Agent’s counsel, Sidley Austin LLP,
Attention:  Praju Tuladhar, by facsimile or e-mail PDF copy
(fax:  312-853-7036; e-mail:  ptuladhar 

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    @sidley.com)
by such time as requested by the Administrative Agent, shall be entitled to an
amendment fee (the “Amendment Fee”) equal
to 0.10% (10 basis points) multiplied by such consenting Lender’s Commitment
(calculated after giving effect to the reductions set forth in Section 4
below).

     

    4.  Reductions of
Commitments.  The Borrower has notified the Administrative
Agent and the Lenders of its desire to permanently reduce the Revolving
Committed Amount to $75,000,000 in accordance with Section 2.1(d) of the
Credit Agreement.  On the terms set forth herein, effective as of the
date of, and substantially concurrently with, the initial incurrence of
Indebtedness pursuant to the Note Facilities Documentation (as such term is
defined after giving effect to this Amendment), Schedule 1.1(a) of
the Credit Agreement is hereby amended and restated in its entirety as set forth
on Attachment A attached hereto.

     

    5.  Representations and
Warranties of the Borrower.

     

    
      	
              (A)    
       

            	
              The
      Borrower hereby represents and warrants that (i) this Amendment and the
      Credit Agreement, as previously executed and as amended hereby, constitute
      legal, valid and binding obligations of the Borrower and are enforceable
      against the Borrower in accordance with their terms (except as
      enforceability may be limited by bankruptcy, insolvency, or similar laws
      affecting the enforcement of creditors’ rights generally) and (ii) no
      Default or Event of Default has occurred and is
  continuing.

            

    

     

    
      	
              (B)    
       

            	
              Upon
      the effectiveness of this Amendment and after giving effect hereto, the
      Borrower hereby reaffirms all covenants, representations and warranties
      made in the Credit Agreement as amended hereby, and agrees that all such
      covenants, representations and warranties shall be true and correct as of
      the effective date of this Amendment (unless such representation and
      warranty is made as of a specific date, in which case such representation
      and warranty shall be true and correct as of such
  date).

            

    

     

    6. References to the Credit
Agreement.

     

    
      	
              (A)    
       

            	
              Upon
      the effectiveness of Section 1
      hereof, on and after the date hereof, each reference in the Credit
      Agreement (including any reference therein to “this Credit Agreement,”
      “hereunder,” “hereof,” “herein” or words of like import referring thereto)
      or in any other Credit Document shall mean and be a reference to the
      Credit Agreement as amended hereby.

            

    

     

    
      	
              (B)    
       

            	
              Except
      as specifically amended above, the Credit Agreement and all other
      documents, instruments and agreements executed and/or delivered in
      connection therewith, shall remain in full force and effect, and are
      hereby ratified and confirmed.

            

    

     

    
      	
              (C)    
       

            	
              The
      execution, delivery and effectiveness of this Amendment shall not, except
      as expressly provided herein, operate as a waiver of any right, power or
      remedy of the Administrative Agent or the Lenders, nor constitute a waiver
      of any provision of the Credit Agreement or any other documents,
      instruments and agreements executed and/or delivered in connection
      therewith.

            

    

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    7.  GOVERNING
LAW.  THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK.

     

    8.  Headings.  Section
headings in this Amendment are included herein for convenience of reference only
and shall not constitute a part of this Amendment for any other
purpose.

     

    9.  Counterparts.  This
Amendment may be executed by one or more of the parties to this Amendment on any
number of separate counterparts and all of said counterparts taken together
shall be deemed to constitute one and the same instrument.

     

    [REMAINDER OF PAGE
INTENTIONALLY BLANK]

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, this Amendment has been duly executed as of the day and year
first above written.

    

    

    

    BORROWER:

    

    TEXAS-NEW
MEXICO POWER COMPANY

    a Texas
corporation

    

    

    By:           /s/ Terry R.
Horn                                                                

    Name:      Terry R.
Horn                                                                

    Title:        Vice President &
Treasurer                                                                

    

    

    

    

    
      
        
          Signature
Page to Amendment No. 2

        

         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              LENDERS:

            

    

    

    JPMORGAN CHASE BANK,
N.A.,

    individually
in its capacity as a Lender and in

    its
capacity as Administrative Agent and L/C Issuer

    

    

    By:           /s/ Helen D.
Davis                                                                

    Name:      Helen D.
Davis                                                                

    Title:        Vice
President                                                                

    

    

    

    UNION BANK OF CALIFORNIA,
N.A.,

    individually
in its capacity as a Lender and in its capacity as Syndication
Agent

    

    

    By:           /s/ Efrain
Soto                                                                

    Name:      Efrain
Soto                                                                

    Title:        Vice
President                                                                

    

    

    
      
        
          

          Signature
Page to Amendment No. 2

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    SUNTRUST BANK,

    individually
in its capacity as a Lender

    

    

    By:           /s/ Andrew
Johnson                                                                

    Name:      Andrew
Johnson                                                      

    Title:        Director                                                                

    

    

    
      
        
          

          Signature
Page to Amendment No. 2

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    WELLS FARGO BANK,
N.A.,

    individually
in its capacity as a Lender

    

    

    By:           /s/ Yann
Blindert                                                                

    Name:      Yann
Blindert                                                                

    Title:        Assistant Vice
President

    
 

    

    
      
        
          

          Signature
Page to Amendment No. 2

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    KEYBANK NATIONAL
ASSOCIATION,

    individually
in its capacity as a Lender

    

    

    By:           /s/ Keven D.
Smith                                                                

    Name:      Keven D.
Smith                                                                

    Title:        Senior Vice
President                                                                

    

    

    
      
        
          

          Signature
Page to Amendment No. 2

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    COMPASS BANK,

    individually
in its capacity as a Lender

    

    

    By:  ________________________                                                              

    Name:  ______________________                                                                         

    Title:    ______________________                                                                       

    

    

    
      
        
          

          Signature
Page to Amendment No. 2

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    SOUTHWEST SECURITIES,
FSB,

    individually
in its capacity as a Lender

    

    

    By:           /s/ Lonnie
Warren                                                                

    Name:      Lonnie
Warren                                                                

    Title:        Regional
President                                                                

    

    
      
        
          

          Signature
Page to Amendment No. 2

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    UNITED WESTERN
BANK,

    individually
in its capacity as a Lender

    

    

    By:           /s/ Michael
Saun                                                                

    Name:      Michael
Saun                                                                

    Title:        Senior Vice
President                                                                

    

    

    

    

    

    
      
        
          

          Signature
Page to Amendment No. 2

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    ATTACHMENT
A

    

    

    SCHEDULE
1.1(a)

     

    

     

    PRO RATA
SHARES

     

    

    
      	
              Lender

            	
              Commitment

            	
              Pro Rata Share

            
	 
      	 
      	 
      
	
              JPMorgan
      Chase Bank, N.A.

            	
              $15,000,000

            	
              20.000000%

               

            
	
              Union
      Bank of California, N.A.

            	
              $15,000,000

            	
              20.000000%

               

            
	
              SunTrust
      Bank

            	
              $13,500,000

            	
              18.000000%

               

            
	
              Wells
      Fargo Bank, N.A.

            	
              $13,125,000

            	
              17.500000%

               

            
	
              KeyBank
      National Association

            	
              $11,250,000

            	
              15.000000%

               

            
	
              United
      Western Bank

            	
              $3,375,000

            	
              4.500000%

               

            
	
              Compass
      Bank

            	
              $1,875,000

            	
              2.500000%

               

            
	
              Southwest
      Securities, FSB

            	
              $1,875,000

            	
              2.500000%

               

            
	
              Total

            	
              $75,000,000

            	
              100.000000%exv10w62

Exhibit 10.62

NUCRYST PHARMACEUTICALS

Employee Incentive Program
 

Revised 2009

 

 

Contents

Overview

How the Employee Incentive Program Works

	•	 	Plan Objective
	 
	•	 	Performance Period
	 
	•	 	Company Performance Measures
	 
	•	 	Performance Levels

How Payouts are Made

	•	 	Annual Award Calculation
	 
	•	 	Receiving Your Annual Award
	 
	•	 	Tax Implications

More Program Details

	•	 	Who’s Eligible
	 
	•	 	Who’s Eligible to Receive a Payout
	 
	•	 	Sale of All or Substantially All of Business
	 
	•	 	The Last Word
	 
	•	 	Key Dates

 

 

Overview

NUCRYST Pharmaceuticals Corp. (“NUCRYST” or the “Company”) is pleased to offer this short-term
incentive plan — the Employee Incentive Program —  (the “Incentive Program”) which is a bonus plan
for all eligible employees (“Participants”) of NUCRYST and its subsidiaries (“NUCRYST Companies”)
that is designed to reward them for contributing to the achievement of NUCRYST’s annual goals, as
established by the Company (“Annual Goals”) in any calendar year. The Incentive Program is designed
to provide greater rewards for significant or outstanding achievement. The amount each Participant
is eligible to receive under the Incentive Program each year (“Annual Award”) is determined on an
annual basis, based on whether and to what extent NUCRYST achieves its Annual Goals for the
relevant calendar year (the “Performance Period”).

How the Employee Incentive Program Works

Plan Objective

While NUCRYST includes competitive base pay and a comprehensive benefits program as critical
components of total compensation, an equally important component is linking compensation to Company
performance. The Incentive Program is a dynamic plan that is intended to accomplish this linkage
by providing employees with an opportunity to share in the corporate success they help to achieve
through their efforts.

Performance Period

Each calendar year, beginning on January 1 of each year, constitutes a separate Performance Period.

Company Performance Measures

Prior to the beginning of each Performance Period, the Company will establish Annual Goals and
financial measures and weightings for each Annual Goal. The Annual Goals (typically 1 to 6 per
year) will have three performance payout levels: Threshold, Target, and Stretch. These goals and
corresponding payout levels will be communicated on an annual basis to all employees.

Performance Levels

There are three key performance levels under the Incentive Program which are as follows:

	 	 	 	 	 
	 
	Threshold
	 	•
	 	the minimum level of performance necessary to earn a
payout

	 	 	•
	 	there will be no payout for performance below Threshold

	 	 	•
	 	there is an 80% probability of attaining at least
Threshold performance measures

	 
	Target
	 	•
	 	the expected level of performance

	 
	Stretch
	 	•
	 	the level of performance beyond Target that earns the
maximum payout

	 	 	•
	 	the largest payout opportunity; there is a 20%
probability of attaining Stretch performance measures

	 

Although specific goals are established annually for each of the three levels, actual results may
come in at any number — from below the minimum Threshold level through to the maximum Stretch
level. Typically, the Incentive Program will interpolate between the three levels: Threshold,
Target and Stretch. However, if the Annual Goal is defined as a milestone, where a definitive goal
must be achieved at each of the three levels, no interpolation is made.

 

 

How Payouts are Made

Annual Award Calculation

The Annual Award amount each Participant is eligible to receive in respect of a Performance Period
is determined based upon two circumstances — first, how well the Company performed relative to the
Annual Goals set and second, the Participant’s position within the Company, as follows:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Incentive Payout Levels (as a % of base salary)	 
	 	 	Threshold	 	Target	 	Stretch
	 
	Vice Presidents
	 	 	20%	 	 	 	40%	 	 	 	70%	 
	 
	Directors/ Associate Directors
	 	 	10%	 	 	 	20%	 	 	 	40%	 
	 
	Manager/Professional
	 	 	 	 	 	 	 	 	 	 	 	 
	•    includes those who have attained full
professional status, or are
employed in a profession and
have equivalent knowledge
through direct field
experience
	 	 	5%	 	 	 	10%	 	 	 	20%	 
	 
	Technical/Operating
	 	 	 	 	 	 	 	 	 	 	 	 
	•    includes technologists, technicians,
operators, clerks,
secretaries, analysts,
material processors,
production assistants and
developing professionals
	 	 	2.5%	 	 	 	5%	 	 	 	10%	 

Base Salary Defined: Base salary is your total regular earnings as per your pay stub, excluding
benefits, overtime, and any other special pay.

In calculating Annual Awards, if the Company does not achieve the Threshold performance level for a
particular Annual Goal, no payout will be made in respect of that Annual Goal.

Receiving Your Annual Award

Annual Awards will be paid out to an eligible Participant by February 28 of the year following the
Performance Period, provided that the Participant is on the payroll of one of the NUCRYST Companies
at the time of the payment. Payment will be in the form of a lump-sum cheque.

Tax Implications

Incentive earnings are considered taxable income in the year you receive your payout. All
applicable taxes will be withheld.

More Program Details

Who’s Eligible

All regular full-time, salaried employees of the NUCRYST Companies are eligible to participate in
this Incentive Program. Regular part-time employees are also eligible, however, the payout of any
Annual Award will be prorated based on the hours worked throughout the Performance Period. Payout
of an Annual Award is subject to and conditional upon compliance by a Participant throughout the
Performance Period and up to and including the day or payment with all policies, guidelines and
laws applicable to the particular NUCRYST Companies employing the Participant. A determination
that an employee is not eligible to receive an Annual Award due to the employee’s failure to
demonstrate compliant behaviour will be made by the Chief Executive Officer and the Chief Financial
Officer of NUCRYST.

 

 

Employees who are hired throughout the Performance Period will be eligible to participate in the
Incentive Program effective on their date of hire; however, the payment of any Annual Award will be
prorated from their date of hire. Any change to an employee’s incentive payout level will also be
prorated for the time spent at each level.

Temporary, casual and contract employees are not eligible to participate under the Incentive
Program.

Who’s Eligible to Receive a Payout

To receive an Annual Award under the Incentive Program, you must be on the payroll of one of the
NUCRYST Companies as an eligible employee on the payout date and in compliance — assuming the
Incentive Program is paying out for the previous year. For example, if the payout date for the
2008 year is February 25, 2009, you must be on one of the NUCRYST Companies’ payroll on that payout
date. If you have resigned before that date or been terminated, with or without cause, from
employment before that date you will not be eligible to receive payment of any Annual Award.

There are exceptions: If you become disabled as determined in accordance with the terms of the
disability benefit program in place for the particular NUCRYST Company with which you are employed
and as such experience any absence that exceeds 2 months of continuous absence or 40 working days
in a calendar year, or if you go on an approved leave of absence during the Performance Period, you
will receive a payout of any Annual Award achieved under the Incentive Plan in the Performance
Period prorated over the portion of the year you worked. If you die during the Performance Period,
your beneficiary will receive a payout of any Annual Award prorated for the portion of the year you
worked.

Sale of All or Substantially All of the Business

If all or substantially all of the business of NUCRYST is sold during the year, eligible employees
will receive a payout at the Target level prorated for the portion of the year you were an employee
of NUCRYST unless you remain employed by NUCRYST or you are employed by the successor company and
the successor company assumes the obligations under this Incentive Program or offers similar
benefits under a comparable program of its own. If you remain employed with NUCRYST or become an
employee of a successor Company who has assumed NUCRYST’s obligations under the Incentive Program,
then the usual terms of the Incentive Program will apply. If you are employed by the successor who
offers similar benefits, then the terms of the successor’s plan will apply.

The Last Word

NUCRYST’s Incentive Program is designed to reward you when the Company meets or exceeds its Annual
Goals. With this Incentive Program, you have the opportunity to increase your cash compensation
when the Company does well. And in those years when business targets are not met, you continue to
earn a competitive base salary. Both your base pay and Incentive Program work together to reward
you for your contribution to NUCRYST’s success.

	 	 	 
	Key Dates
	 	 
	 
	 	 
	Corporate Performance Measures Set

	 	Fourth Quarter for next Program year
	 
	 	 
	Performance Updates

	 	Quarterly
	 
	 	 
	Incentive Program Payouts

	 	Prior to February 28

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