Document:

Exhibit 10.11

 

EMPLOYEE CONTRIBUTION AGREEMENT

 

THIS EMPLOYEE CONTRIBUTION AGREEMENT (this “Agreement”) is made as of August     ,
2007 between Symbion Holdings Corporation, a Delaware corporation (the “Company”), and the individual listed on the signature pages hereof
(“Employee”).  Capitalized terms used but not otherwise
defined herein have the meanings ascribed to those terms in Section 3
below.  This Agreement is entered into in
connection with the Symbion Holdings Corporation Compensation Equity Participation
Plan (“Compensation Plan”).

 

WHEREAS, pursuant to the terms of the
Agreement and Plan of Merger dated as of April 24, 2007 (the “Merger Agreement”) by and among Symbion, Inc., a
Delaware corporation, Symbol Acquisition, L.L.C., a Delaware limited liability
company, and Symbol Merger Sub, Inc., a Delaware corporation, Symbol
Merger Sub, Inc. will be merged with and into Symbion, Inc., with
Symbion, Inc. as the surviving corporation (the “Merger”);

 

WHEREAS, pursuant to the Compensation Plan,
Employee desires to make an investment in the Company in the form of a
contribution of the number of shares of common stock of Symbion, Inc. that
are owned by Employee and listed opposite his or her name on Exhibit A
hereto under the heading “Contributed Shares” (such shares in respect of such
employee, his or her “Contributed Shares”);

 

WHEREAS, the Employee has agreed pursuant to Section 1(b) of
this Agreement to become a party to and bound as a Shareholder (as defined
therein) by the Shareholders Agreement of Symbion Holdings Corporation dated as
of the date hereof, which agreement is attached as Exhibit B hereto
(the “Shareholder Agreement”); and

 

WHEREAS, the contribution of Employee that is
recited herein, along with the property contributed by the parties to the
Shareholders Agreement, will cause the contributors in the aggregate to have
over 80% of the Company in a transaction intended to qualify as a Section 351
transaction in which gain is not recognized with respect to the contributed
property;

 

NOW, THEREFORE, in consideration of the
mutual promises made in this Agreement and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto (each, a “Party” and
collectively, the “Parties”),
intending to be legally bound hereby, agree as follows:

 

 

SECTION 1.  Purchase And Sale Of Employee Securities.

 

(a)        Capital
Contribution and Issuance of Employee Securities.  Subject to the terms and conditions of this
Agreement, Employee hereby makes a capital contribution to the Company
immediately prior to the Effective Time (as defined in the Merger Agreement) of
his or her Contributed Shares which have a value that is equal to the amount
that is set forth opposite his or her name on Exhibit A hereto
under the heading “Capital Contribution” (such contributed value for each such
Employee, his or her “Capital Contribution”).  In consideration of the Capital Contribution
of Employee, the Company will issue a number of shares of common stock of the
Company, each with a par value of $0.01 per share (such shares, the “Shares”), to Employee that is equal to the quotient (rounded
to the nearest whole number of) of (x) his or her Capital Contribution divided by (y) $10, subject to the rights and
obligations set forth in the Shareholders Agreement.

 

(b)        The Employee hereby agrees to become a
party and subject to, and bound as a Shareholder (as defined in the
Shareholders Agreement) by, the Shareholders Agreement as of the Effective
Time.  Consequently and for the sake of
clarity, the Employee’s signature on a counterpart of this Agreement shall be
deemed to be one and the same as a signature on a counterpart of the
Shareholders Agreement.

 

SECTION 2.  Representation and Warranties
of Employee.  Employee
represents and warrants to the Company as follows:

 

(a)        The investment in the Company by
Employee pursuant to this Agreement has been made by the Employee for his or
her own account and not with a view to, or the intention of, distribution
thereof in violation of the Securities Act of 1933, or the rules and
regulations promulgated under that Act, as amended (the “Securities
Act”), or any applicable state securities laws, and such Employee
shall not dispose of, or otherwise Transfer (as defined in the Shareholders
Agreement) all or any part of his or her Shares, except in compliance with the
Securities Act, any applicable state securities laws and the Shareholders
Agreement.

 

(b)        Employee is an employee of the Company
or an Affiliate thereof, and he or she is sophisticated in financial matters
and is able to evaluate the risks and benefits of the investment in his or her
Shares.

 

(c)        Employee is able to bear the economic
risk of investment in his or her Shares for an indefinite period of time
(including the possible full loss thereof) and is aware that Transfer of all or
any part of his or her Shares may not be possible because (A) such
Transfer is subject to the contractual restrictions on Transfer set forth in
the Shareholders Agreement and (B) such Shares have not been registered
under the Securities Act or any applicable state securities laws and,
therefore, cannot be sold unless in compliance with the Shareholders Agreement
and subsequently registered under the Securities Act and such applicable state
securities laws or an exemption from such registration is available.

 

2

 

(d)        Employee has had an opportunity to ask
questions and receive answers concerning the terms and conditions of his or her
investment in the Company, the Shares issued to him or her hereunder and the
terms and conditions of this Agreement and the Shareholders Agreement and has
had full access to such other information as he or she has requested concerning
the Company and its assets, liabilities, financial condition, results of
operations and prospects and this investment opportunity.

 

(e)        Employee holds good, valid and
marketable record and beneficial title to all of his or her Contributed Shares
to be contributed to the Company by Employee to the Company pursuant to this
Agreement, and good and valid title to such Contributed Shares will pass to the
Company by virtue of this Agreement.

 

(f)         Each of this Agreement and the
Shareholders Agreement constitutes a legal, valid and binding obligation of
Employee, enforceable against Employee in accordance with its terms, and the
execution, delivery and performance of those agreements by Employee do not and
will not conflict with, violate or breach any agreement, contract, instrument
to which Employee is a party or by which Employee is bound or any law,
judgment, order or decree to which Employee is subject.

 

SECTION 3.  Definitions.

 

(a)        Capitalized terms used but not otherwise
defined herein have the meanings assigned to them in the Shareholders
Agreement.

 

(b)           Each of the
following terms shall have the following meanings:

 

“Affiliate” of
any Person means any other Person directly or indirectly controlling,
controlled by or under common control with such Person.  For the purposes of this definition, “control” when used with respect to any Person, means the
possession, directly or indirectly, of the power to direct or the direction of
the management and policies of such Person, whether through ownership of voting
securities, by contract or otherwise; and the terms “controlling”
or “controlled” have meanings correlative
to the foregoing.

 

“Person” means
an individual, corporation, partnership, limited liability Company,
association, trust or other entity or organization.

 

SECTION 4. Miscellaneous Provisions.

 

(a)           Further Assurances.  As a condition to the Company’s entering into
this Agreement and the Company’s issuance of the Shares to Employee, and as
further consideration therefor, Employee shall take all necessary or desirable
actions to ensure his or her performance hereunder and under the Shareholders
Agreement as may be reasonably requested by the Company.

 

3

 

(b)           Severability.  Whenever possible, each provision of this
Agreement shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be
invalid, illegal or unenforceable in any respect under any applicable law or rule in
any jurisdiction, such invalidity, illegality or unenforceability shall not
affect any other provision or any other jurisdiction, but this Agreement shall
be reformed, construed and enforced in such jurisdiction as if such invalid,
illegal or unenforceable provision had never been contained herein.

 

(c)           Entire Agreement.  This Agreement and the Shareholders Agreement
constitute the entire agreement among the parties hereto with respect to the
subject matter hereof and thereof and, those agreements supersede all prior
agreements and understandings, both oral and written, among or between any of
the parties hereto with respect to the subject matter hereof and thereof.

 

(d)           Counterparts.  This Agreement may be executed in separate
counterparts, none of which need contain the signature of more than one Party
but each of which shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

 

(e)           Successors
and Assigns.  No Party may
assign, delegate or otherwise transfer any of its rights or obligations under
this Agreement (including any transfer by way of merger or operation of law)
without the consent of each other Party. 
Except as otherwise provided
herein, this Agreement shall bind the Parties and their respective
successors and permitted assigns and shall inure to the benefit of and be
enforceable by the Parties and their respective successors and permitted
assigns whether so expressed or not.

 

(f)            Governing
Law.  This Agreement shall be
governed by, and construed in accordance with, the laws of the State of New
York, without regard to its conflict of law principles.

 

(g)           Amendment, Modification, or Waiver.  No provision of this Agreement may be waived
except by an instrument in writing executed by the party against whom the
waiver is to be effective.  No provision
of this Agreement may be amended or otherwise modified, except by an instrument
in writing executed by the Company with the approval of Employee, the board of
directors of the Company and the Crestview Shareholder.

 

(h)           Third Party Beneficiaries.  The provisions of this Agreement are intended
for the sole benefit of the parties hereto and, to the fullest extent permitted
by applicable law, this Agreement shall not be construed as conferring any
benefit upon any other Person.

 

(i)            Business Days.  If any time period for giving notice or
taking action hereunder expires on a day which is a Saturday, Sunday or legal
holiday in 

 

4

 

the State of New York, the time period shall
be automatically extended to the business day immediately following such
Saturday, Sunday or holiday.

 

(j)            Descriptive Headings; Interpretation.  The descriptive headings of this Agreement
are inserted for convenience only and do not constitute a substantive part of
this Agreement.  Reference to any
agreement, document, or instrument means such agreement, document, or
instrument as amended or otherwise modified from time to time in accordance
with its terms.  The use of the words “include”
or “including” in this Agreement shall be by way of example rather than by limitation.

 

(k)           Notices.  All notices, requests or other communications
to any party hereunder shall be in writing (which may include facsimile
transmission) and shall be given,

 

if to
Employee, to him or her at his address or facsimile number as it is listed in
the Company’s personnel records:

 

	
  if to the
  Company, to:

  
	
   

  
	
  Symbion, Inc.

  
	
  40 Burton
  Hills Boulevard, Suite 500

  
	
  Nashville,
  Tennessee 37215

  
	
  Attn:
  Richard E. Francis, Jr.

  
	
  Facsimile:
  (615) 234-5999

  
	
   

  
	
  with copies
  to:

  
	
   

  
	
  Symbol
  Acquisition, L.L.C.

  
	
  c/o
  Crestview Capital Partners, L.P.

  
	
  667 Madison
  Avenue

  
	
  New York,
  New York 10021

  
	
  Attn: Thomas
  S. Murphy, Jr.

  
	
  Facsimile:
  (212) 906-0750

  
	
   

  
	
  Davis
  Polk & Wardwell

  
	
  450 Lexington
  Avenue

  
	
  New York,
  New York 10017

  
	
  Attn: John D. Amorosi, Esq.

  
	
  Facsimile:
  (212) 450-3010

  
	
   

  
	
  and

  
	
   

  
	
  Waller
  Lansden Dortch & Davis LLP

  
	
  511 Union
  Street, Suite 2700

  
	
  Nashville,
  Tennessee 37219

  
	
  Attn:
  J. Reginald Hill, Esq.

  

 

5

 

	
  Donald R.
  Moody, Esq.

  
	
  Facsimile:
  (615) 244-6804

  

 

All such notices, requests and other communications shall be deemed
received on the date of receipt by the recipient thereof if received prior to 5 p.m.
in the place of receipt and such day is a business day in the place of
receipt.  Otherwise, any such notice, request
or communication shall be deemed not to have been received until the next
succeeding business day in the place of receipt.

 

(l)            Arbitration.  Except
as set forth in Section 5(m), any dispute arising out of or in connection
with this Agreement shall be submitted to arbitration.  The arbitration shall be conducted according
to the Commercial Arbitration Rules of the American Arbitration
Association.  The place of arbitration
shall be New York, New York or such other place as may be agreed upon by the
parties.  The parties to any such dispute
shall attempt to agree upon one arbitrator, but if they are unable to agree,
each such party shall appoint an arbitrator and these two shall appoint a third
arbitrator.  Fees and expenses of the
arbitrator(s) shall be divided equally between the parties to that
dispute.  Judgment upon the award
rendered by the arbitrator(s) may be entered in any court having
jurisdiction thereof, and shall be enforceable against the parties in
accordance with the 1958 Convention on the Recognition and Enforcement of
Foreign Arbitral Awards, as amended.

 

(m)          Jurisdiction; WAIVER OF JURY TRIAL.  In any dispute in which the Company is
seeking to specifically enforce Section 2 or Section 4 of this
Agreement (or any right or obligation of any party thereunder), the parties
agree that any such suit, action or proceeding shall be brought exclusively in
New York state court located in Manhattan or the Federal Courts located in the
State of New York in Manhattan, so long as one of such courts shall have
subject matter jurisdiction over such suit, action or proceeding, and that any
cause of action arising out of this Agreement shall be deemed to have arisen
from a transaction of business in the State of New York, and each of the
parties hereby irrevocably consents to the exclusive jurisdiction of those
courts (and of the appropriate appellate courts therefrom) in any such suit,
action or proceeding and irrevocably waives, to the fullest extent permitted by
law, any objection that it may now or hereafter have to the laying of the venue
of any such suit, action or proceeding in any such court or that any such suit,
action or proceeding which is brought in any such court has been brought in an
inconvenient forum.  Process in any such
suit, action or proceeding may be served on any party anywhere in the world,
whether within or without the jurisdiction of any such court.  Without limiting the foregoing, each party
agrees that service of process on such party as provided in Section 5(k) shall
be deemed effective service of process on that Party.  EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES
ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY SUCH LEGAL PROCEEDING DESCRIBED IN
THIS SECTION 5(m).

 

6

 

(n)           All Obligations Contingent Upon Merger.  All of the rights and obligations of the
parties hereto under this Agreement are subject to the closing of the
Merger.  If the Merger Agreement is
terminated for any reason, this Agreement shall terminate automatically and no
party shall have any liability to any other party under this Agreement.

 

7

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement on the date first written above.

 

 

	
   

  	
  SYMBION
  HOLDINGS

  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name of Employee:

  	
   

  
				

 

 

Exhibit A

 

	
  Employee

  	
   

  	
  Contributed

  Shares

  	
   

  	
  Capital

  ContributionQuickLinks
 -- Click here to rapidly navigate through this document

 
 

  Exhibit 10.4b    
    

FORM OF

ZALE CORPORATION

2003 STOCK INCENTIVE PLAN, AS AMENDED

INCENTIVE STOCK OPTION

PLAN AGREEMENT

							
	

 	
 	

 	
 	

 	
 	

Employee ID
	

Participant	
 	

Grant Date	
 	

Number of Options	
 	

Option Exercise Price

			
	Grant	 	Zale Corporation (the "Company"), on behalf of Zale Delaware, Inc., its wholly-owned subsidiary, hereby grants to the Participant named above, as of the grant date above, the above number of Incentive Stock Options
to purchase common stock of the Company ("Company Stock") at the above Option Exercise Price per share subject to the terms and conditions set forth in this Plan Agreement and in the Zale Corporation 2003 Stock Incentive Plan (the "Plan"), as
amended.
	
Vesting	
 	

Each Option shall become cumulatively exercisable as to         percent of the shares covered thereby on each of
the                                    anniversaries of the Grant
Date.
	
Expiration	
 	

No Option shall be exercisable more than 10 years after the Grant Date.
	
Exercise	
 	

An Option may be exercised for all or any portion of the shares as to which it is exercisable; provided, that no partial exercise of an Option shall be for an aggregate exercise price of less than $1,000.
	

 	
 	

An Option shall be exercised by delivering notice to Zale Corporation Investor Relations, MS 5A-8, P.O. Box 152777, Irving, Texas 75015-2777 no less than one business day in advance of the effective date of the proposed exercise (Please
call Investor Relations for the proper form). Such notice shall be accompanied by this Plan Agreement, and may be withdrawn at any time prior to the close of business on the business day immediately preceding the effective date of the proposed
exercise. Payment for shares of Company Stock purchased upon the exercise of an Option shall be made on the effective date of such exercise by cash, certified check, bank cashier's check or wire transfer or in such other manner as shall be authorized
by the Company in accordance with the Plan.
	

 	
 	

Certificates for shares of Company Stock purchased upon the exercise of an Option shall be issued in the name of the Participant, or other person entitled to receive such shares, and delivered to the Participant or such other person as soon as
practicable following the effective date on which the Option is exercised.

			
	Termination	 	 Other than Cause, Disability or Death—In the event that the employment of a Participant with Zale Delaware, Inc. shall terminate for any reason other than Cause, Disability or death
(i) Options granted to such Participant, to the extent that they were exercisable at the time of such termination, shall remain exercisable until the date that is three months after such termination, on which date they shall expire, and
(ii) Options granted to such Participant, to the extent they were not exercisable at the time of such termination, shall expire at the close of business on the date of such termination. The three-month period described above shall be extended to
one year in the event of the Participant's death during such three-month period. Notwithstanding the foregoing, no Option shall be exercisable after the expiration of its term.
	

 	

 	

  Disability or Death—In the event that the employment of a Participant with Zale Delaware, Inc. shall terminate on account of the Disability or death of the Participant (i) Options
granted to such Participant, to the extent they were exercisable at the time of such termination, shall remain exercisable until the first anniversary of such termination, on which date they shall expire, and (ii) Options granted to such
Participant, to the extent that they were not exercisable at the time of such termination, shall expire at the close of business on the date of such termination; provided, however, that no Option shall be exercisable after the expiration of its
term.
	

 	
 	
 Cause—In the event of the termination of a Participant's employment with Zale Delaware, Inc. for Cause, all outstanding Options granted to such Participant shall expire at the
commencement of business on the date of such termination.
	
Recoupment Policy	
 	

Any amounts received by Participant pursuant to the Options granted in this Plan Agreement are subject to recoupment by the Company pursuant to any policy the Company may have in place from time to time that provides for the recoupment of
compensation that was paid as a result of a misstatement of the Company's financial results that involved negligence, fraud or other misconduct.
	
Disqualifying Dispositions	
 	

Each Participant shall notify the Company of any disposition of shares of stock purchased under an Incentive Stock Option if such disposition occurs within one year of the exercise date. Such notice shall be provided within 10 days after such
disposition, and shall be addressed to the attention of Zale Corporation Investor Relations, MS 5A-8, P.O. Box 152777, Irving, Texas 75015-2777
	
Miscellaneous	
 	

Upon the occurrence of a Change in Control, each Option granted under the Plan and outstanding at such time shall become fully and immediately exercisable and shall remain exercisable until its expiration, termination or cancellation pursuant to the
terms of the Plan.

			
	 	 	Capitalized terms not otherwise defined herein shall have the meanings assigned to them in the Plan.
	

 	
 	

Zale Corporation
	

 	
 	

Authorized Officer
	

 	
 	

I hereby agree to be bound by all the terms and conditions of this Plan Agreement and the Plan.
	

 	
 	

Participant

QuickLinks

Exhibit 10.4b

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}]]