Document:

EX-10.68

 Exhibit 10.68 

AGENDA ITEM 6 

EXHIBIT 3 
 SCHEDULE 1s

 Schedule 1 (to 2011 Agreements) 

EBIT Targets 
 (in
millions) 
  

									
	 Year
	  	Annual
EBIT Target	 	 	Cumulative
EBIT Target	 
	 2011
	  	$	748.5	* 	 	 	N/A	  
	 2012
	  	$	834.8	* 	 	$	1,647.9	* 
	 2013
	  	$	804.2	* 	 	$	2,581.2	* 
	 2014 (the “Final Fiscal Year”)
	  	$	823.2	* 	 	$	3,594.6	  

 EBIT shall mean for any Fiscal Year, net income increased by (i) net interest expense and (ii) the provision for
income taxes; all determined in accordance with U.S. generally accepted accounting principles (GAAP) consistently applied on a consolidated basis. For this purpose EBIT shall: 

a) Exclude any extraordinary gains or losses, cumulative effect of a change in accounting principle, income or loss from disposed or
discontinued operations and any gains or losses on disposed or discontinued operations, all as determined in accordance with GAAP. 
 b)
Exclude any gain or loss greater than $2 million attributable to asset dispositions, contract terminations and similar items, provided that losses on contract terminations and asset dispositions in connection with client contract terminations shall
be limited in any given Fiscal Year to $5 million. 
 c) Exclude any increase in amortization or depreciation resulting from the application
of purchase accounting to the Transaction, including the current amortization of existing acquired intangibles. 
 d) Exclude any gain or
loss from the early extinguishment of indebtedness including any hedging obligations or other derivative instrument. 
 e) Exclude any
impairment charge or similar asset write off required by GAAP. 
 f) Exclude any non cash compensation expense resulting from the
application of SFAS No. 123R or similar accounting requirements. 
 g) Exclude any expenses or charges related to any equity offering,
acquisition, disposition, recapitalization, refinancing or similar transaction, including the Transaction. 

 AGENDA ITEM 6 

EXHIBIT 3 
  

 h) Exclude any transaction, management, monitoring, consulting, advisory and related fees and
expenses paid or payable to the Sponsor Stockholders. 
 i) Exclude the effects of changes in foreign currency translation rates from such
rates used in the calculation of the EBIT Targets. The 2011 EBIT Target is based on the foreign currency translation rates used in the 2011 Business Plan approved by the Board. 2012 and later EBIT Targets are based on the foreign currency
translation rates used in the 2010 Business Plan approved by the Board. 
 j) Exclude the impact that the 53rd week of operations will have
on the Company’s financial results during any 53 week Fiscal Year referenced in this Schedule. 
 The final EBIT calculation for any
Fiscal Year will be subject to review and approval by the Committee. 
 The EBIT Targets shall be adjusted for acquisitions as follows: 

a) For acquisitions having purchase consideration of less than $20 million each, there shall be no adjustment until the aggregate consideration
for all such acquisitions exceeds $20 million in any Fiscal Year and then the EBIT Targets shall be adjusted to the extent the consideration for all such acquisitions exceeds $20 million. The amount of the adjustment shall be based on the last
twelve months earnings of the acquired business, provided however, that the last twelve months earnings shall be adjusted, if necessary, to reflect the sustainable underlying profitability of the acquired business. If the purchase consideration for
all such acquisitions is less than $20 million in any Fiscal Year, the amount by which $20 million exceeds such aggregate consideration shall be carried forward to future Fiscal Years for purposes of making this determination under this sub
paragraph a). 
 b) For acquisitions having purchase consideration of more than $20 million each, the EBIT Targets shall be adjusted based
on the pro forma used to approve the acquisition. 
 The EBIT Targets will be adjusted for divestitures of a business by the amount of the last twelve
months earnings of the divested business. 
  

	*	If in the future the Board or the Committee establishes an annual EBIT Target for a Fiscal Year set forth above for any other grant of options to purchase common stock of the Company that might be made on or after
June 17, 2011 and such EBIT Target is less than the EBIT Target for such Fiscal Year set forth above, the EBIT Target for such Fiscal Year set forth on this Schedule 1 shall be deemed reduced to such lower EBIT Target. In addition, if the Board
of Directors or the Committee establishes any Cumulative EBIT Target(s) for any other Option granted by the Company for any of the Fiscal Years beginning with 2012 or following, and such Cumulative EBIT Target(s) are achieved, any portion of the
Performance Option that has not become vested in respect of Fiscal Year 2011 or later but prior to the Fiscal Year in which the Cumulative EBIT Target was achieved and prior to the Final Fiscal Year will become vested. 

 AGENDA ITEM 6 

EXHIBIT 3 
  

 Schedule 1 

(to 2011 Agreements between June 21, 2011 and June 30, 2011) 

EBIT Targets 
 (in
millions) 
  

									
	 Year
	  	Annual 
EBIT Target	 	  	Cumulative
EBIT Target	 
	 2011
	  	$	748.5	  	  	$	 N/A	  
	 2012
	  	$	834.8	  	  	$	1,583.3	  
	 2013
	  	$	804.2	  	  	$	2,387.5	  
	 2014 (the “Final Fiscal Year”)
	  	$	823.2	  	  	$	3,210.7	  

 EBIT shall mean for any Fiscal Year, net income increased by (i) net interest expense and (ii) the provision for
income taxes; all determined in accordance with U.S. generally accepted accounting principles (GAAP) consistently applied on a consolidated basis. For this purpose EBIT shall: 
  

	 	1.	Exclude any extraordinary gains or losses, cumulative effect of a change in accounting principle, income or loss from disposed or discontinued operations and any gains or losses on disposed or discontinued operations,
all as determined in accordance with GAAP. 

  

	 	2.	Exclude any gain or loss greater than $2 million attributable to asset dispositions, contract terminations and similar items, provided that losses on contract terminations and asset dispositions in connection with
client contract terminations shall be limited in any given Fiscal Year to $5 million. 

  

	 	3.	Exclude any increase in amortization or depreciation resulting from the application of purchase accounting to the Transaction, including the current amortization of existing acquired intangibles. 

 

	 	4.	Exclude any gain or loss from the early extinguishment of indebtedness including any hedging obligations or other derivative instrument. 

 

	 	5.	Exclude any impairment charge or similar asset write off required by GAAP. 

  

	 	6.	Exclude any non cash compensation expense resulting from the application of SFAS No. 123R or similar accounting requirements. 

  

	 	7.	Exclude any expenses or charges related to any equity offering, acquisition, disposition, recapitalization, refinancing or similar transaction, including the Transaction. 

 AGENDA ITEM 6 

EXHIBIT 3 
  

	 	8.	Exclude any transaction, management, monitoring, consulting, advisory and related fees and expenses paid or payable to the Sponsor Stockholders. 

 

	 	9.	Exclude the effects of changes in foreign currency translation rates from such rates used in the calculation of the EBIT Targets based on the 2011 Business Plan approved by the Board. 

 

	 	10.	Exclude the impact that the 53rd week of operations will have on the Company’s financial results during any 53 week fiscal year referenced in this Schedule. 

The final EBIT calculation for any Fiscal Year will be subject to review and approval by the Committee. 

The EBIT Targets shall be adjusted for acquisitions as follows: 
  

	 	1.	For acquisitions having purchase consideration of less than $20 million each, there shall be no adjustment until the aggregate consideration for all such acquisitions exceeds $20 million in any Fiscal Year and then the
EBIT Targets shall be adjusted to the extent the consideration for all such acquisitions exceeds $20 million. The amount of the adjustment shall be based on the last twelve months earnings of the acquired business, provided however, that the last
twelve months earnings shall be adjusted, if necessary, to reflect the sustainable underlying profitability of the acquired business. If the purchase consideration for all such acquisitions is less than $20 million in any Fiscal Year, the amount by
which $20 million exceeds such aggregate consideration shall be carried forward to future Fiscal Years for purposes of making this determination under this sub paragraph a). 

 

	 	2.	For acquisitions having purchase consideration of more than $20 million each, the EBIT Targets shall be adjusted based on the pro forma used to approve the acquisition. 

The EBIT Targets will be adjusted for divestitures of a business by the amount of the last twelve months earnings of the divested business. 

 

	*	The Committee shall establish these targets in accordance with Section 4(b) of the Agreement to which this Schedule 1 is attached. 

 AGENDA ITEM 6 

EXHIBIT 3 
  

 Schedule 1 (to 2012 Agreements) 

EBIT Targets 
 (in
millions) 
  

									
	 Year
	  	Annual 
EBIT Target	 	 	Cumulative
EBIT Target	 
	 2012
	  	$	834.8	  	 	$	 N/A	  
	 2013
	  	$	804.2	  	 	$	1,639.0	  
	 2014
	  	$	823.2	  	 	$	2,462.2	  
	 2015 (the “Final Fiscal Year”)
	  	$	 [•	]* 	 	$	 [•	]* 

 EBIT shall mean for any Fiscal Year, net income increased by (i) net interest expense and (ii) the provision for
income taxes; all determined in accordance with U.S. generally accepted accounting principles (GAAP) consistently applied on a consolidated basis. For this purpose EBIT shall: 
  

	 	11.	Exclude any extraordinary gains or losses, cumulative effect of a change in accounting principle, income or loss from disposed or discontinued operations and any gains or losses on disposed or discontinued operations,
all as determined in accordance with GAAP. 

  

	 	12.	Exclude any gain or loss greater than $2 million attributable to asset dispositions, contract terminations and similar items, provided that losses on contract terminations and asset dispositions in connection with
client contract terminations shall be limited in any given Fiscal Year to $5 million. 

  

	 	13.	Exclude any increase in amortization or depreciation resulting from the application of purchase accounting to the Transaction, including the current amortization of existing acquired intangibles. 

 

	 	14.	Exclude any gain or loss from the early extinguishment of indebtedness including any hedging obligations or other derivative instrument. 

 

	 	15.	Exclude any impairment charge or similar asset write off required by GAAP. 

  

	 	16.	Exclude any non cash compensation expense resulting from the application of SFAS No. 123R or similar accounting requirements. 

  

	 	17.	Exclude any expenses or charges related to any equity offering, acquisition, disposition, recapitalization, refinancing or similar transaction, including the Transaction. 

 

	 	18.	Exclude any transaction, management, monitoring, consulting, advisory and related fees and expenses paid or payable to the Sponsor Stockholders. 

 AGENDA ITEM 6 

EXHIBIT 3 
  

	 	19.	Exclude the effects of changes in foreign currency translation rates from such rates used in the calculation of the EBIT Targets based on the 2011 Business Plan approved by the Board. 

 

	 	20.	Exclude the impact that the 53rd week of operations will have on the Company’s financial results during any 53 week fiscal year referenced in this Schedule. 

The final EBIT calculation for any Fiscal Year will be subject to review and approval by the Committee. 

The EBIT Targets shall be adjusted for acquisitions as follows: 
  

	 	3.	For acquisitions having purchase consideration of less than $20 million each, there shall be no adjustment until the aggregate consideration for all such acquisitions exceeds $20 million in any Fiscal Year and then the
EBIT Targets shall be adjusted to the extent the consideration for all such acquisitions exceeds $20 million. The amount of the adjustment shall be based on the last twelve months earnings of the acquired business, provided however, that the last
twelve months earnings shall be adjusted, if necessary, to reflect the sustainable underlying profitability of the acquired business. If the purchase consideration for all such acquisitions is less than $20 million in any Fiscal Year, the amount by
which $20 million exceeds such aggregate consideration shall be carried forward to future Fiscal Years for purposes of making this determination under this sub paragraph a). 

 

	 	4.	For acquisitions having purchase consideration of more than $20 million each, the EBIT Targets shall be adjusted based on the pro forma used to approve the acquisition. 

The EBIT Targets will be adjusted for divestitures of a business by the amount of the last twelve months earnings of the divested business. 

 

	*	The Committee shall establish these targets in accordance with Section 4(b) of the Agreement to which this Schedule 1 is attached. 

 AGENDA ITEM 6 

EXHIBIT 3 
  

 Schedule 1 (to 2013 Agreements) 

EBIT Targets 
 (in
millions) 
  

									
	 Year
	  	Annual 
EBIT Target	 	 	Cumulative
EBIT Target	 
	 2013
	  	$	804.2	  	 	$	 N/A	  
	 2014
	  	$	823.2	  	 	$	1,627.4	  
	 2015
	  	$	 [•	]* 	 	$	 [•	]* 
	 2016 (the “Final Fiscal Year”)
	  	$	 [•	]* 	 	$	 [•	]* 

 EBIT shall mean for any Fiscal Year, net income increased by (i) net interest expense and (ii) the provision for
income taxes; all determined in accordance with U.S. generally accepted accounting principles (GAAP) consistently applied on a consolidated basis. For this purpose EBIT shall: 
  

	 	21.	Exclude any extraordinary gains or losses, cumulative effect of a change in accounting principle, income or loss from disposed or discontinued operations and any gains or losses on disposed or discontinued operations,
all as determined in accordance with GAAP. 

  

	 	22.	Exclude any gain or loss greater than $2 million attributable to asset dispositions, contract terminations and similar items, provided that losses on contract terminations and asset dispositions in connection with
client contract terminations shall be limited in any given Fiscal Year to $5 million. 

  

	 	23.	Exclude any increase in amortization or depreciation resulting from the application of purchase accounting to the Transaction, including the current amortization of existing acquired intangibles. 

 

	 	24.	Exclude any gain or loss from the early extinguishment of indebtedness including any hedging obligations or other derivative instrument. 

 

	 	25.	Exclude any impairment charge or similar asset write off required by GAAP. 

  

	 	26.	Exclude any non cash compensation expense resulting from the application of SFAS No. 123R or similar accounting requirements. 

  

	 	27.	Exclude any expenses or charges related to any equity offering, acquisition, disposition, recapitalization, refinancing or similar transaction, including the Transaction. 

 

	 	28.	Exclude any transaction, management, monitoring, consulting, advisory and related fees and expenses paid or payable to the Sponsor Stockholders. 

 AGENDA ITEM 6 

EXHIBIT 3 
  

	 	29.	Exclude the effects of changes in foreign currency translation rates from such rates used in the calculation of the EBIT Targets based on the 2011 Business Plan approved by the Board. 

 

	 	30.	Exclude the impact that the 53rd week of operations will have on the Company’s financial results during any 53 week fiscal year referenced in this Schedule. 

The final EBIT calculation for any Fiscal Year will be subject to review and approval by the Committee. 

The EBIT Targets shall be adjusted for acquisitions as follows: 
  

	 	5.	For acquisitions having purchase consideration of less than $20 million each, there shall be no adjustment until the aggregate consideration for all such acquisitions exceeds $20 million in any Fiscal Year and then the
EBIT Targets shall be adjusted to the extent the consideration for all such acquisitions exceeds $20 million. The amount of the adjustment shall be based on the last twelve months earnings of the acquired business, provided however, that the last
twelve months earnings shall be adjusted, if necessary, to reflect the sustainable underlying profitability of the acquired business. If the purchase consideration for all such acquisitions is less than $20 million in any Fiscal Year, the amount by
which $20 million exceeds such aggregate consideration shall be carried forward to future Fiscal Years for purposes of making this determination under this sub paragraph a). 

 

	 	6.	For acquisitions having purchase consideration of more than $20 million each, the EBIT Targets shall be adjusted based on the pro forma used to approve the acquisition. 

The EBIT Targets will be adjusted for divestitures of a business by the amount of the last twelve months earnings of the divested business. 

 

	*	The Committee shall establish these targets in accordance with Section 4(b) of the Agreement to which this Schedule 1 is attached.EX-10.69

 Exhibit 10.69 

FORM OF AMENDMENT 
 TO
THE 
 NON-QUALIFIED STOCK OPTION AGREEMENT 

WHEREAS, ARAMARK Holdings Corporation (the “Company”) has granted options to purchase common stock of the Company
(“Options”) pursuant to that certain Non-Qualified Stock Option Agreement (the “Option Agreement”) pursuant to the ARAMARK Holdings Corporation 2007 Management Stock Incentive Plan, as amended, as in effect prior to its
subsequent amendment and restatement (and as amended and restated, the “Plan”), and all capitalized terms used but not otherwise defined herein shall have the meaning set forth in the Option Agreement; and 

WHEREAS, Article 10 of the Plan authorizes the Committee (as such term is defined in the Plan) to amend the terms of outstanding
Options so long as such amendment does not materially impair the rights of the holder of such Options; and 
 WHEREAS, in
anticipation of an IPO, the Committee has determined that it is in the best interest of the Company to provide for an additional vesting opportunity with respect to the Performance-Based Options in connection with the IPO based on the achievement of
certain performance targets, for the benefit of the Optionee; and 
 WHEREAS, the Company by resolution of the Committee has duly
approved such amendment set forth below. 
 NOW, THEREFORE, the Option Agreement is hereby amended as follows: 

1. Section 4(b) of the Option Agreement is hereby amended by adding the following new Section 4(b)(iii) after the end of
Section 4(b)(ii) and before Section 4(c): 
 “(iii) Notwithstanding Sections 4(b)(i) and 4(b)(ii), and in
addition thereto, if an IPO occurs prior to the expiration of any unvested Performance-Based Options pursuant to Section 4(c): 
 (A) if
the Optionee is still employed with the Company on the date of the IPO, with respect to any then-unvested Performance-Based Options that did not become vested in respect of any Missed Year pursuant to Section 4(b)(i) or otherwise (the
“Missed Year Options”), fifty-percent (50%) of such Missed Year Options (with such fifty percent (50%) covering first, those Missed Year Options related to the earliest Missed Year, and thereafter each consecutive
subsequent Missed Year until such fifty percent (50%) of Missed Year Options is achieved) shall become Vested Options at such date if the initial per Share price offered for sale to the public at the time of the IPO equals or exceeds US $20.00
(the “IPO Pricing Target”) and shall, on and after the date of the IPO, for all purposes under this Agreement, be treated as then vested Time-Based Options; and 

 (B) if (I) during the period beginning with the date of the IPO and ending on the last day
of the eighteenth calendar month following the calendar month in which the IPO occurs, the closing trading price per Share over any twenty (20) consecutive trading-day period equals or excess US $25.00 (such 20-day period during which such
trading price target is achieved, the “Trading Period”) and (II) the Optionee is still employed with the Company as of the first calendar day following the Trading Period, then, on such calendar day, one hundred percent
(100%) of any then-unvested Missed Year Options (to the extent such Options, following the IPO, have not otherwise become Vested Options pursuant to Section 4(b)(iii)(A) above or otherwise) shall become Vested Options and shall, on and
after such calendar day, for all purposes under this Agreement, be treated as then vested Time-Based Options; and 
 (C) in the event of a
Special Termination or a Qualifying Termination (as defined below), any installments of unvested Missed Year Options outstanding as of the date of such applicable Termination of Relationship shall (to the extent such unvested Performance-Based
Options do not, in the case of a Special Termination, otherwise become Vested Options pursuant to Section 4(b)(ii)(E)) become Vested Options at such time(s) and to the extent that any such installments would have become Vested Options during
the Special Termination Vesting Period or Qualifying Termination Vesting Period (as defined below), as applicable, pursuant to Section 4(b)(iii)(A) and/or (B) if no such Special Termination or Qualifying Termination (as applicable) had
occurred. For purposes of this provision, a “Qualifying Termination” shall mean a Termination of Relationship by the Company other than (x) for Cause or (y) due to a Special Termination (whether occurring before, on or
during the Qualifying Termination Vesting Period), and the “Qualifying Termination Vesting Period” shall mean the period commencing on the date hereof and ending on June 30, 2014.” 

2. Section 4(c) of the Option Agreement is hereby amended by adding the phrase “or a Qualifying Termination, as applicable”
immediately after the words “Special Termination”, and before the comma (“,”) thereafter, contained in the first line of such Section. 

3. Section 7(c) of the Option Agreement is hereby amended and restated in its entirety as follows: 

“(c) in the case of a Termination of Relationship other than (x) for Cause or (y) due to a Special Termination
or a Qualifying Termination, the 90th day following the Termination of Relationship; and in the case of a Qualifying Termination, (i) with respect to any Time-Based Options and
Performance-Based Options that are vested as of the Termination of Relationship, the 90th day following the Termination of Relationship, and (ii) with respect to any Performance-Based Option that becomes a Vested Option pursuant to
Section 4(b)(iii)(C), the 90th day following the last Vesting Date (if any) that occurs during the Qualifying Termination Vesting Period; and” 

4. This amendment is effective as of
                    , 2013. 

[Signature on next page.] 

  
 2 

 IN WITNESS WHEREOF, this amendment is hereby executed on behalf of the Company on this
             day of                     , 2013. 

 

			
	ARAMARK HOLDINGS CORPORATION
		
	By:	 	 
	Name:
	Title:

  
 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}]]