Document:

AKAM 10K 12/31/11 EX10.17

Exhibit 10.17
Summary of the Registrant's Compensatory Arrangements with Executive Officers

Name and Title                         Base Salary for 2012 (effective April 1, 2012)

Paul Sagan                                                     $776,250
President and CEO

J. Donald Sherman                          $459,023
Senior Vice President - Chief Financial Officer

Debra Canner                               $305,000
Senior Vice President - Human Resources

Melanie Haratunian                           $365,000
Senior Vice President and General Counsel

Robert Hughes                               $459,023
Executive Vice President - Global Sales, Services and Marketing

Tom Leighton                               $20,000
Chief ScientistAKAM 10K 12/21/11 EX10.31

Exhibit 10.31

Akamai Technologies, Inc.             Form of 2012 Executive Bonus Plan

Name:                                 Performance Period: FY 2012
Title:    

This 2012 Executive Bonus Plan sets forth your annual compensation for 2012 based on the achievement of certain corporate and individual performance objectives. In order to receive your annual cash incentive bonus, you must be an employee and a member of the CEO's staff throughout all of 2012 and the corporate and individual objectives must be met, as described more thoroughly below. The Compensation Committee will resolve all questions arising in the administration, interpretation and application of this plan, and the Compensation Committee's determination will be final and binding on all concerned.  Where permitted by applicable law, the Compensation Committee reserves the right to modify, at its discretion and at any time, the terms of this plan, including, but not limited to, the performance objectives, targets, and payouts. 

Annual Compensation Levels at Target Performance
	
		
	Base salary:
	$____________

	Annual cash incentive bonus at target:
	$____________

	Total Cash Compensation at target:
	 $____________

Performance Objectives/Targets

Your 2012 cash incentive bonus is comprised of three components:  corporate financial performance during Fiscal Year 2012 against a revenue target (40%) (the “Revenue Component”), corporate financial performance during Fiscal year 2012 against a normalized earnings per share component (40%) (the “EPS Component”) and individual 2012 performance goals  As established by the Chief Executive Officer or, in the case of the CEO, the Compensation Committee11. (20%) (the “MBO Component”).

The method for calculating corporate financial performance used to determine the Financial Component is described in the attached Schedule 1.  In the event of any question as to whether the components of the Financial Component have been satisfied, the Compensation Committee shall make such determination.  The amounts payable to you under the Financial Component are as follows:

Akamai Performance Against
Revenue Target from Schedule 12          Amount Payable to You

___% of Target:                25% of Revenue Component ($___________)
___% of Target:                50% of Revenue Component ($____________)
100% of Target:                100% of Revenue Component ($____________)
___% or greater of Target:            200% of Revenue Component ($____________)

Akamai Performance Against
EPS Target from Schedule 12        Amount Payable to You

__.0% of Target:                50% of EPS Component ($____________)
100% of Target:                100% of EPS Component ($____________)
___% or greater of Target:            200% of EPS Component ($____________)

The amount payable under the MBO Component ranges from 0% to 100% of that target ($0 up to $___________) based on the determination of whether individual objectives have been met by you.  The Chief Executive Officer shall make such determination and shall report such determination to the Compensation Committee.  The Compensation Committee shall retain the right, exercisable in its discretion, to overrule the determination of the Chief Executive Officer and make an independent and binding determination as to whether you have achieved your individual objectives.  Subject to the foregoing, the Chief Executive Officer's determination will be final and binding on all concerned3. In the case of the Chief Executive Officer, the Board of Directors shall make the determination as to whether his individual performance objectives have been met.  The 

determination of the Board of Directors will be final and binding on all concerned.3 Performance above the maximum may result in higher reward at the sole discretion of the Compensation Committee.

1As established by the Chief Executive Officer or, in the case of the CEO, the Compensation Committee.

2 For performance at intermediate percentages not specified, the amount paid shall be calculated based on where actual performance falls on the “slope” between the two identified tiers.

3 In the case of the Chief Executive Officer, the Board of Directors shall make the determination as to whether his individual performance objectives have been met.  The determination of the Board of Directors will be final and binding on all concerned.

The payment of any annual incentive bonus will be made within thirty (30) days following the filing of Akamai's SEC 10-K filing for FY 2012 but no later than March 15, 2013.

Acceptance:        __________________________            ________________
           Date

Approved by:        __________________________            ________________
Date

SCHEDULE 1
CORPORATE FINANCIAL PERFORMANCE MEASUREMENT METHODOLOGY
A.    Overview; Definitions    

The target amount for payment at 100% of the Revenue Component is _________.  The target amount for payment at 100% of the EPS Component is _______. 

For purposes of this Agreement, such metrics shall have the following meanings:

“Revenue” shall mean the Company's revenue for fiscal year 2012 calculated in accordance with generally accepted accounting principles in the United States of America as reported in the 2012 Financial Statements.  

“Normalized EPS” shall mean the Company's annual earnings per diluted share for fiscal year 2012 excluding amortization of intangible assets, equity-related compensation, restructuring charges and benefits, certain gains and losses on equity investments, loss on early extinguishment of debt, and similar items excluded by the Company in determining normalized earnings per share in issuing its earnings announcement for fiscal year 2012.

If, on December 31, 2012, the Company is required to make periodic reports under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Company's consolidated financial statements filed with the Securities and Exchange Commission on Form 10-K shall constitute its “Public Company Financial Statements” and shall apply.  If, on December 31, 2012, the Company is not required to make periodic reports under the Exchange Act, the Company's regularly prepared annual audited financial statements prepared by management shall be its “Private Company Financial Statements” and shall apply.  The applicable financial statements may be referred to herein as the “2012 Financial Statements.”

B.    Effect of an Acquisition by Akamai

In the event that Akamai enters into an Acquisition Transaction during 2012, then Revenue and Normalized EPS shall be adjusted to give effect to such Acquisition Transaction.  An “Acquisition Transaction” means (i) the purchase of more than 50% of the voting power of an entity, (ii) any merger, reorganization, consolidation, recapitalization, business combination, liquidation, dissolution or share exchange involving Akamai and an entity not previously owned by Akamai, or (iii) the purchase or other acquisition (including, without limitation, via license outside of the ordinary course of business or joint venture) of assets that constitute more than 50% of another entity's total assets or assets that account for more than 50% of the consolidated net revenues or net income of such entity.

As soon as practicable following the closing of an Acquisition Transaction, the Compensation Committee shall make a determination of the estimated impact of the Acquisition Transaction on the Company's 2012 Revenue and Normalized EPS.  If the Acquisition Transaction is estimated to be accretive, then:

(i)    in calculating Revenue for purposes of determining the Revenue Percentage Component, reported Revenue shall be reduced by the amount of estimated revenue contribution from the Acquisition Transaction; and

(ii)    in calculating Normalized EPS for purposes of determining the Normalized EPS Percentage Component, Normalized EPS, as calculated based on the 2012 earnings release, shall be reduced by the amount of the estimated Normalized EPS contribution from the Acquisition Transaction.  

If the Acquisition is estimated to be non-accretive, then:

(iii)    in calculating Normalized EPS for purposes of determining the Normalized EPS Percentage Component, Normalized EPS, as calculated based on the 2012 earnings release, shall be increased by the amount of the estimated negative Normalized EPS impact from the Acquisition Transaction.

All determinations of the Compensation Committee regarding the estimated impact of an Acquisition Transaction shall be final, binding and non-appealable.  The cumulative impact of all Acquisition Transactions shall be set forth in a statement delivered upon payment, if any, of the bonus contemplated by this plan.  This plan shall be deemed to be automatically amended, without further action by the Company or the executive, to give effect to any adjustments required by this Section B.EX 4.23 Amendment Letter to the Facility Agreement

AMENDMENT LETTER

This Amendment Letter, dated as of  8 November 2011 (this “Letter”), to the Facility Agreement dated 30 June 2011 (the “Facility Agreement”), by and amongst First Solar Malaysia Sdn. Bhd. (the “Borrower”), First Solar, Inc. as guarantor, CIMB Investment Bank Berhad, as Facility Agent and Security Agent and for and on behalf of the Original Lenders, CIMB Bank Berhad, Malayan Banking Berhad and RHB Bank Berhad.

W I T N E S S E T H:

WHEREAS, it has come to the Borrower’s attention that the definition of “CFADS” in the Facility Agreement does not fully achieve and accurately reflect the intent and understanding of the Borrower with respect to the inclusion of liabilities and receivables of the Borrower against members of the Group.  
WHEREAS, pursuant to the consent of the Majority Lenders and the Borrower given in accordance with Clause 34.1(a) of the Facility Agreement and further pursuant to the powers granted to the Facility Agent under Clause 34.1(b) of the Facility Agreement to effect, on behalf of any Finance Party, any amendment or waiver permitted by Clause 34, in this Letter the parties wish to amend the definition of “CFADS” to in the Facility Agreement in order to achieve the Borrower’s intent.
NOW, THEREFORE, in consideration of the foregoing, the mutual covenants and obligations set forth herein and other good and valuable consideration, the adequacy and receipt of which is hereby acknowledged, and in reliance upon the representations, warranties and covenants herein contained, the parties hereto, intending to be legally bound, hereby agree as follows:
1.Defined Terms.  Except as otherwise defined in this Amendment, terms defined in the Facility Agreement are used herein as defined therein, and Clause 1.2 (Construction) is incorporated herein by reference, mutatis mutandis.

2.Amendment.  The parties hereby acknowledge, agree and declare that the Facility Agreement shall be varied, amended and modified in the manner and to the extent as hereinafter provided effective on and after 30 September 2011:-
2.1    Wherever the expression “this Agreement” appears in the Facility Agreement, it shall mean the Facility Agreement and this Amendment Letter, where the context requires.
2.2    Definition of “CFADS” in Clause 20.1 of the Facility Agreement
The definition of “CFADS” in Clause 20.1 of the Facility Agreement shall be deleted and substituted with the following:-
Clause 20.1
“Adjusted EBITDA” in respect of any Relevant Date, means the cashflow available for debt service, i.e. the EBITDA for the 12 Months ending on the relevant Relevant Date:-

2

		
	(a)
	after deducting any amount of tax on profits, gains, income in respect of cash payments or cash payable;

		
	(b)
	after taking into account all increases and decreases respectively of accruals;

		
	(c)
	subject to the exclusion in paragraph (g) below, after taking into account all increases and decreases respectively of liabilities resulting from deliveries of goods and services;

		
	(d)
	subject to the exclusion in paragraph (g) below, after taking into account all increases and decreases respectively of receivables resulting from deliveries of goods and services;

		
	(e)
	after taking into account all increases and decreases respectively of the inventories, raw materials and supplies, work-in-process and finished product, advance payments and prepaid expenses; and 

		
	(f)
	after taking into account all increases and decreases respectively of the Capital Expenditures; but

		
	(g)
	excluding any increases or decreases of any liabilities or receivables of the Borrower against members of the Group (including, for the avoidance of doubt, any such liabilities and receivables in respect of deliveries of goods and services).   

2.3    Replacing “CFADS” with “Adjusted EBITDA”
All references to “CFADS” in the Facility Agreement shall be deleted and substituted with “Adjusted EBITDA”.
3.Confirmation. Each Lender party hereto hereby further agrees that the definition of “CFADS”, as amended in Clause 2 above, shall apply in determining the Borrower’s compliance with the terms of Clause 20.2(d) of the Facility Agreement as of 30 September 2011.   
4.Conditions Precedent.  This Letter shall become effective as of 8 November 2011 (the “Effective Date”), upon the Facility Agent receiving counterparts of this Letter, duly executed by the Borrower, the Facility Agent and the Guarantor.

5.Reference to and Effect on the Finance Documents.
(a)This Letter shall be supplemental to the Facility Agreement and subject only to the variations, amendments, modification and indulgence herein contained and such other alterations (if any) as may be necessary to make this Letter consistent with the Facility Agreement and vice versa, the parties hereby declare and agree that:-
		
	(i)
	Except as expressly amended herein, all the other terms and provisions of the Facility Agreement and all other Finance Documents are and shall remain in full force and effect and are hereby ratified and confirmed.

		
	(ii)
	The guarantee, indemnity, obligations, conditions, covenants, provisions, powers and terms contained or subsisting under the Facility Agreement unless repugnant to the provisions in this Letter are applicable herein mutatis mutandis as if each of such guarantee, indemnity, 

3

obligations, conditions, covenants, provisions, powers and terms were herein repeated.
		
	(iii)
	The Facility Agreement and this Letter shall be read and construed as one document and be enforceable as if the modification and indulgence herein granted had originally formed part of the Facility Agreement.

		
	(iv)
	Nothing herein contained shall affect or impair the Facility Agreement or its enforceability and the Facility Agreement shall continue to remain in full force and effect.

		
	(v)
	For the avoidance of doubt and not in derogation hereof, in the event of any conflict between the provisions of the Facility Agreement and any of the provisions of this Letter, the latter shall prevail.

(b)Nothing herein shall be deemed to entitle the Borrower to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Facility Agreement or any Finance Document in similar or different circumstances.
6.Counterparts.  This Letter may be executed by one or more of the parties to this Letter on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed signature page of this Letter by email or facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.  A set of the copies of this Letter signed by all the parties shall be lodged with the Borrower and the Facility Agent.
7.Governing Law.  This letter and the rights and obligations of the parties under this letter shall be governed by, and construed and interpreted in accordance with, Malaysian law.
8.Finance Documents and Integration.  This Letter is a Finance Document, and together with the other Finance Documents, incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.
9.Headings.  Section headings contained in this Letter are included herein for convenience of reference only and shall not constitute a part of this Letter for any other purposes.
___________________________________________________________________________
Remainder of this page has been intentionally left blank.

SIGNATURE PAGE TO THE
AMENDMENT LETTER TO THE FACILITY AGREEMENT OF
FIRST SOLAR MALAYSIA SDN.BHD.

IN WITNESS WHEREOF, the parties hereto have caused this Letter to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written.
	
		
	FIRST SOLAR MALAYSIA SDN.BHD., as Borrower

	 

	By: 

	 
	/s/David Brady

	 
	Name: David Brady

	 
	Title: Director

	
		
	FIRST SOLAR INC., as Guarantor

	 

	By:

	 
	/s/David Brady

	 
	Name: David Brady

	 
	Title: VP, Treasurer

 

SIGNATURE PAGE TO THE
AMENDMENT LETTER TO THE FACILITY AGREEMENT OF
FIRST SOLAR MALAYSIA SDN.BHD.

	
			
	CIMB INVESTMENT BANK BERHAD, as Facility Agent and Security Agent with the consent of the Majority Lenders

	 
	 

	By:
	 

	 
	/s/Nuraida Ismail
	/s/Joey Liong Huey Wen

	 
	Name: Nuraida Ismail
	Name: Joey Liong Huey Wen

	 
	Title: Associate Director
	Title: Manager

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00200-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00200-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00200-of-00352.parquet"}]]