Document:

Exhibit

Performance Share Award Agreement
Granted Under NxStage Medical, Inc. 2014 Omnibus Incentive Plan

		
	1.
	Grant of Performance Shares.

This agreement evidences the grant by NxStage Medical, Inc., a Delaware corporation (the “Company”), to the Participant listed below of performance shares representing the conditional right to receive restricted stock units (“RSUs”), as outlined below:

	
		
	Participant:
	<first_name> <middle_name> <last_name>

	RSUs:
	<PSUs_awarded>

	Grant Date:
	<award_date>

Except as otherwise indicated by the context, “Participant” shall be deemed to include any person who acquires these performance shares validly under their terms.

These performance shares are granted in consideration of employment services rendered and to be rendered by the Participant to the Company.  These performance shares are subject to the terms of this agreement and the Company’s 2014 Omnibus Incentive Plan (the “Plan”), a copy of which is furnished to the Participant with this agreement.  Any capitalized term that is not defined in this agreement shall have the meaning ascribed to it in the Plan.

		
	2.
	Vesting.

		
	(a)
	Performance Shares.  These performance shares will become nonforfeitable (“vest”), and result in the following number of RSUs to be earned, upon achieving the corresponding performance goals for <performance_period>:  

[Targets]                                    
RSUs                                
*Targets are in millions. Performance goals exclude non-operating activities such as divestitures, and other non-operating items that may arise that were not included in the plan. Performance goals should be measured by applying the same accounting principles, tax laws or other laws or provisions in effect at the time of preparing the performance goals set forth above, without regard to whether there was a change in application of accounting principles, tax laws or other laws or provisions at a later date.
Performance in-between specific goals will result in the number of RSUs earned to be interpolated between the corresponding amounts in the table above.
		
	(b)
	RSUs.  Any earned RSUs will in turn represent the conditional right to receive shares of the Company’s common stock, $0.001 par value per share (the “Shares”), on a one-for-one basis, and will vest on the dates and with respect to the portion of Shares indicated below, provided that the Participant is an Eligible Participant on such dates:

1

	
			
	Date
	 
	Portion of Shares  
Vesting On Such Date

	The date the Company’s Compensation Committee determines the achievement of the performance goals described in Section 2(a) (the “Determination Date”)

	 
	1/3

	The first anniversary of the Determination Date
	 
	1/3

	The second anniversary of the Determination Date
	 
	1/3

“Eligible Participant” means a Participant that is, and at all times since the Grant Date has been, an employee, officer or director of, or consultant or advisor to, the Company or an Affiliate of the Company.  
Any earned RSUs will be granted pursuant to, and be subject to the terms and conditions set forth in, a separate restricted stock unit agreement to be entered into between the Company and the Participant.
		
	3.
	Withholding Taxes.

This Section 3 only applies to Participants who are Employees.  The Grantee acknowledges and agrees, as a condition of this grant, that the Grantee will pay all applicable federal, state or local withholding taxes required by law to be withheld in respect of these performance shares, the RSUs or the Shares by hereby directing the Company to withhold, from the Shares otherwise issuable to the Grantee, a number of Shares in an amount reasonably determined by the Company to be materially sufficient to satisfy such withholding taxes.  In addition, the Company may deduct from payments of any kind otherwise due to the Participant all applicable federal, state or local withholding taxes required by law to be withheld in respect of these performance shares, the RSUs or the Shares.

		
	4.
	Termination.

If the Participant ceases to be an Eligible Participant for any reason, all of the then unvested performance shares, unearned RSUs and unvested Shares will be forfeited immediately and automatically, without the payment of any consideration to the Participant, effective as of the time that the Participant ceases to be an Eligible Participant.

		
	5.
	Transfer Restrictions.

These performance shares may not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution or pursuant to a domestic relations order in settlement of marital property rights.  
  
* * *

IN WITNESS WHEREOF, the Company has caused this agreement to be executed by its duly authorized officer under its corporate seal.

NxStage Medical, Inc.

By:    

Jeffrey H. Burbank
Chief Executive Officer

2

PARTICIPANT’S ACCEPTANCE

The undersigned hereby accepts the terms and conditions of this agreement and acknowledges receipt of a copy of the Company’s 2014 Omnibus Incentive Plan and related prospectus.

	
		
	Participant:
	 

	Address:
	 

	 
	

	 
	 

	 
	 

	 
	 

3Exhibit

Non-Employee Director Compensation Policy
This policy describes the compensation payable to Directors of NxStage Medical, Inc. (“NxStage”) who are not employees of NxStage (or its subsidiaries) and have not been employees of NxStage (or its subsidiaries) within the preceding 12 months.  All other Directors will not receive compensation from NxStage for service on the Board and thus are not covered by this policy. 
Retainers and Fees
Directors will receive a $45,000 annual retainer plus the following additional annual retainers, as applicable:  
 
	
																				
	 
	 
	Committee Chair
	 
	Committee Member*

	Board Chair
	 
	Audit
	 
	Compensation
	 
	Nominating and 
Corporate 
Governance
	 
	Audit
	 
	Compensation
	 
	Nominating and 
Corporate 
Governance

	$
	55,000
	 
	$
	20,000
	 
	$
	15,000
	 
	$
	10,000
	 
	$
	10,000
	 
	$
	7,500
	 
	$
	5,000

_______________________
* Not paid to Committee Chairs
Annual retainers will be paid in four equal installments following each calendar quarter and will be prorated for the portion of such quarter during which a Director actually served as a member or chair of the Board and its standing committees.
If the Board forms any additional committee, a member of such committee will also receive $500 for each meeting of such committee attended.
Equity Grants
On the date of a Director’s initial election to the Board (by stockholder or Board vote), such Director will be granted options to purchase shares of NxStage’s common stock (“Common Stock”) with a grant date fair value of $187,500, prorated for the period between the grant date and the following May 31.  This initial option grant will vest monthly over three years. 
Thereafter, on the date that each succeeding annual meeting of stockholders concludes, each Director who remains a member of the Board will be granted options to purchase shares of Common Stock with a grant date fair value of $150,000.  This annual option grant will vest monthly over one year.
Each initial and annual stock option will be subject to the following additional terms:
		
	•
	Options are granted pursuant to NxStage’s 2014 Omnibus Incentive Plan or any successor plan (“Incentive Plan”).

		
	•
	Exercise price is equal to the closing sale price (for the primary trading session) of Common Stock on the Nasdaq Stock Market or the national securities exchange on which the Common Stock is then traded on the date of grant (and if the Common Stock is not then traded on a national securities exchange, the fair market value of the Common Stock on such date as determined by the Board) (“Closing Price”).

		
	•
	Vesting is subject to a Director’s continued service on the Board.

		
	•
	Options may be exercised for a period of seven years following grant; provided, that upon ceasing Board service, Directors with less than three years of continuous Board service may exercise such options for up to 1 year following death and up to 3 months otherwise.

		
	•
	Options are subject to such other terms and conditions as the Board shall determine.

Each Director may elect to receive shares of Common Stock in lieu of the cash compensation to be paid hereunder (“Equity Election”).  Directors desiring to make an Equity Election must do so in writing on the date of the annual meeting of stockholders at which such Director is elected. The Equity Election will apply to all cash compensation to be paid after the date of the election and will remain in effect until the date of the next annual meeting of stockholders. Equity Elections may not be revoked.  Directors who make an Equity Election will receive quarterly grants of Common Stock on the last business day of any calendar quarter during the election period (“Quarterly Grant Date”), in an amount equal to the quotient of the total cash consideration such Director is due during that quarter (quarterly retainers plus any ad-hoc meeting fees) divided by the Closing Price on the Quarterly Grant Date. Such shares are granted pursuant to the Incentive Plan.
Expenses
Directors will be reimbursed for reasonable and documented travel expenses incurred to attend Board and committee meetings.

Effective Date:  May 25, 2017Exhibit

Exhibit 10.24

SUMMARY OF EXECUTIVE COMPENSATION

Annual Base Salaries
The executive officers of VCA Inc. are paid the following annual base salaries:

	
					
	Executive Officer
	 
	Title
	 
	Base Salary

	Robert L. Antin(1)
	 
	Chairman, President and Chief Executive Officer
	 
	$1,096,000

	Arthur J. Antin(1)
	 
	Chief Operating Officer & Senior Vice President
	 
	$684,950

	Tomas W. Fuller(1)
	 
	Chief Financial Officer, Vice President & Secretary
	 
	$468,650

	Neil Tauber(1)
	 
	Senior Vice President of Development
	 
	$468,650

	Josh Drake(1)
	 
	President, Antech Diagnostics
	 
	$422,300

(1) Please refer to the employment and other agreements for these executive officers, each of which has been filed with the Securities and Exchange Commission, for the other terms and conditions of their employment.

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