Document:

mime-ex1026_740.htm

 

Exhibit 10.26 

 

October 12, 2017 

Janet B. Levesque 

Dear Janet, 

Mimecast is pleased to offer you the position of Senior Vice President Systems, Risk and Security contingent on successful background and reference check. You will work from the Watertown office and report to me. 

Our offer of employment is as follows: 

	
i.
	
Your semi-monthly salary will be $11,458.34 ($275,000.16 annualized), to be paid on a semi-monthly basis; 

	
ii.
	
You will be eligible to participate in a discretionary bonus plan through which you will be eligible to receive a bonus of up to 50% of your annual salary, pro-rated as applicable based on your start date, provided you remain employed with the Company through the date upon which the bonuses are awarded; this bonus will be paid quarterly based on financial results per the Executive Variable Compensation Plan, which may be subject to change; 

	
iii.
	
Subject to approval by the Company’s Board of Directors, you will be awarded 80,000 options which will be issued on the first trading day of the month following your hire date and priced as of the close of that day. Vesting for this award will commence on the vesting commencement date stated in the Option Agreement. Unless otherwise specified in the schedule in the Option Agreement, the vesting schedule shall be as follows: 25% of the Options shall be vested on the first anniversary of the vesting commencement date and thereafter 6.25% of the Option Shares shall vest quarterly until the Option Shares are fully vested on the fourth anniversary of the vesting commencement date. 

	
iv.
	
If your employment is terminated by the Company or any successor company without cause (as defined below) or you terminate your employment for good reason (as defined below), then you will continue to receive your base salary, target bonus and health and dental insurance benefits for a period of time after the date of termination equal to 6 months, in each such case subject to your execution and delivery of a release drafted by and satisfactory to counsel for the Company. “Cause” shall mean, for purposes of this letter, willful misconduct by you relating to your duties to the Company, or willful failure by you to perform your responsibilities to the Company as determined by the Company in good faith. No act or failure to act by you shall be considered willful unless it is done, or omitted to be done, in bad faith or without a reasonable belief by you that your actions or omissions were in the best interests of the Company. “Good Reason” shall mean, for purposes of this letter, the occurrence of any of the following events without your prior written consent: (i) a reduction in your base salary or total target compensation of more than 5%; (ii) a material diminution in your duties, authority or responsibilities; (iii) a material relocation; or (iv) a material breach of this letter, including the Agreement (as defined below);  

	
v.
	
If there is a Change In Control (as defined below) in the company, fifty percent (50%) of any of your then unvested outstanding options (or other equity) will immediately become vested and exercisable. In addition, if within one (1) year after a Change of Control your employment is terminated by the Company or any successor company without “cause” (as defined above) or you terminate your employment for “good reason” (as defined above), then the remainder of your unvested options (or other equity) will become immediately vested and exercisable. For the avoidance of doubt, “Change of Control” means the sale of all or substantially all the stock or assets of Company through a merger, consolidation or acquisition of the Company with, by or into another corporation, entity or person; or any change in the ownership of more than fifty percent (50%) of the voting capital stock of Company in one or more related transactions. A merger or consolidation of the company means that the shareholders of the Company hold less than 50% of the shares in the resulting entity on completion of the transaction. 

 

	
vi.
	
You will be eligible for Three weeks of vacation annually in addition to other benefits available to employees for sick and holiday time which will be pro-rated for the remainder of the fiscal year. 

Your employment relationship with Mimecast will be ‘at-will’, meaning that you are free to resign from, and Mimecast is free to terminate, your employment at any time for any reason, with or without notice. Nothing in this offer letter shall be construed to alter this ‘at-will’ employment relationship. 

  Your acceptance of this offer (‘Offer Letter’) is subject to your signature on a ‘Confidentiality and Non-Disclosure (Agreement), which will be provided to you under separate cover. No prior promises, discussions, representations, or other understandings relative to terms or conditions of your employment are to be considered part of this agreement unless expressed in writing in this Offer Letter and the Agreement. 

Mimecast reserves the right to conduct background and reference checks and your employment is contingent on satisfactory results of those checks. Upon acceptance, we will provide you with the new hire paperwork and an 1-9 form, which is required by the government to verify employment eligibility. Noted on the back of the 1-9 are lists of acceptable documents for this purpose. The appropriate documents must be presented when you report to work, since we will be unable to process your employment paperwork without them. 

Janet, we are very excited to have you join our growing team. If you have any questions please do not hesitate to call me at 617-285-4483. Otherwise, please confirm your acceptance of this offer of employment and start date by email to 

me at pbauer@mimecast.com. 

We are confident that with your background and skills, you will have an immediate positive impact on our organization. 

Sincerely, 

 

	
/s/ Peter Bauer 

	
Chief Executive Officer

Accepted by:        /s/ Janet Bishop-Levesque 

Date: 10/31/17mime-ex1027_1265.pptx.htm

 Mimecast Limited - FY19 ExCo Incentive Plan Design Metrics & Weighting 80% Revenue / 20% Adjusted EBITDA Awards are interpolated between achievement percents (e.g., 100.2% achievement results in award of 102%). Each metric is capped at 200% of award quarterly; overall quarterly award payments are capped at 100% with any overachievement earned to be reconciled at year end. If the full year metric target is achieved, then any quarters that were paid at less than 100% will be paid out at target for that missed quarter and included in the Q4 award. Maintain FY18 payout scale with updated FY19 financial objectives Exhibit 10.27 Revenue - 80% of Incentive Revenue ($M) XXXXXXXXXX Achievement 96% 97% 98% 99% 100% 101% 102% 103% 104% 105% Award 20% 85% 95% 97.5% 100% 110% 125% 150% 175% 200% Adjuest EBITDA - 20% of Incentive EBITDA ($M) XXXXXXXXXX Achievement 80% 85% 90% 95% 100% 105% 110% 115% 120% 125% 130% 135% Award 20 85 90 95 100 110 120 145 160 175 190 200    FY19 TargetFY19 TargetExhibit 4.1

 

Execution Version

 

AMENDMENT NO. 4 TO RIGHTS AGREEMENT

 

AMENDMENT NO. 4 (this “Amendment”), dated as of May 29, 2018, to the Rights Agreement (the “Rights Agreement”) dated as of December 2, 2015 (as amended by Amendment No. 1 thereto dated as of November 28, 2016, Amendment No. 2 thereto dated as of November 29, 2017 and Amendment No. 3 thereto dated as of March 26, 2018), by and between iKang Healthcare Group, Inc., a company incorporated under the laws of the Cayman Islands (the “Company”), and American Stock Transfer & Trust Company, L.L.C., a New York limited liability trust company, as Rights Agent (the “Rights Agent”).  All capitalized terms used but not defined in this Amendment shall have the meanings ascribed to such terms in the Rights Agreement.

 

WHEREAS, the Board of Directors desires to amend the Rights Agreement as set forth herein;

 

WHEREAS, pursuant to Section 5.4 of the Rights Agreement, the Company, with the approval or at the direction of the Special Committee, and the Rights Agent may, from time to time, supplement or amend the Rights Agreement in any respect prior to the Flip-In Date;

 

WHEREAS, the Flip-In Date has not occurred;

 

WHEREAS, the Special Committee has approved this Amendment; and

 

WHEREAS, pursuant to Section 5.4 of the Rights Agreement, the Company has delivered to the Rights Agent a certificate signed by Daqing Qi, an appropriate officer of the Company, certifying that this Amendment complies with the terms of the Rights Agreement.

 

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements set forth herein, the parties agree as follows:

 

1.                                      Amendments to the Rights Agreement.

 

(a)                                 The definition of “Acquiring Person” in Section 1(a) of the Rights Agreement is hereby amended by inserting the following as a new sentence at the end of such definition:

 

“Notwithstanding anything herein to the contrary, none of (a) IK Healthcare Investment Limited, an exempted limited company with limited liability incorporated under the laws of the Cayman Islands (“IK Healthcare”), (b) IK Healthcare Merger Limited, an exempted limited company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of IK Healthcare (“Merger Sub”), (c) IK Healthcare Holdings Limited, an exempted limited company with limited liability incorporated under the laws of the Cayman Islands (“Holdco”) and (d) Taobao China Holding Limited, Yunfeng Fund III, L.P., Yunfeng Fund III Parallel Fund, L.P. and Boyu Capital Fund III, L.P.

 

 

(collectively, the “Sponsors”), or (d) Mr. Lee Ligang Zhang, Shanghai Med, Inc., Time Intelligent Finance Limited, Mr. Boquan He, and Top Fortune Win Ltd., (collectively, the “Rollover Shareholders”), nor any of their respective Affiliates or Associates, shall be deemed to be an “Acquiring Person” solely by reason of the execution, delivery or performance of the Agreement and Plan of Merger, dated as of March 26, 2018 and amended as of May 29, 2018, by and among IK Healthcare, Merger Sub and the Company (as the same may be amended from time to time in accordance with its terms, the “Merger Agreement”), or the consummation of the Merger (as defined in the Merger Agreement) or any other transactions contemplated thereby, including entry into or performance of the Support Agreement (as defined in the Merger Agreement and as amended as of May 29, 2018), the Interim Investors Agreement dated as of March 26, 2018 and amended as of May 29, 2018 by and among the Rollover Shareholders, the Sponsors, Holdco, Parent and Merger Sub, the Equity Commitment Letters (as defined in the Merger Agreement) or the Limited Guarantees (as defined in the Merger Agreement) (such actions described in this sentence, the “Permitted Events”); provided that (i) the exceptions contained in this sentence shall not apply in the event that (A) Mr. Lee Ligang Zhang, Shanghai Med, Inc., Time Intelligent Finance Limited and their respective Affiliates and Associates beneficially own, in aggregate, more than 6,497,015 Common Shares at any time prior to the Effective Time (as defined in the Merger Agreement) and/or (B) Mr. Boquan He, Top Fortune Win Ltd., and their respective Affiliates and Associates beneficially own, in aggregate, more than 4,935,406 Common Shares at any time prior to the Effective Time (as defined in the Merger Agreement) and (ii) this sentence and the exceptions contained herein shall automatically be of no further force and effect at and after such time as the Merger Agreement is terminated pursuant to Article VIII thereof.”

 

2.                                      Counterparts.  This Amendment may be executed in any number of counterparts (including by facsimile, PDF or other electronic means) and each of such counterparts shall for all purposes be deemed an original, and all such counterparts shall together constitute but one and the same instrument.

 

3.                                      Effectiveness.  This Amendment shall be deemed effective as of the date first written above.  Except as amended hereby, the Rights Agreement shall remain in full force and effect and shall be otherwise unaffected hereby.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, constitute a waiver or amendment of any provision of the Rights Agreement.

 

[Signature Page Follows]

 

2

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.

 

	
 
    	
IKANG   HEALTHCARE GROUP, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Daqing Qi
    
	
 
    	
Title:   
    	
Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
AMERICAN   STOCK TRANSFER & TRUST COMPANY, L.L.C., as Rights Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Michael A. Nespoli
    
	
 
    	
Title:   
    	
Executive   Director
    

 

[Signature Page to Amendment No. 4 to Rights Agreement]

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