Document:

Exhibit 10.11

 

SECOND
AMENDMENT TO GROUND LEASE

 

This SECOND
AMENDMENT TO GROUND LEASE (this “Second Amendment”)
is entered into as of the 7th day of January, 1997 by and between TEXAS
GAMBLING HALL & HOTEL, INC., a Nevada corporation (“Landlord”), and TEXAS STATION, INC., a Nevada
corporation (“Tenant”).

 

Recitals

 

A.                                   Landlord
and Station Casinos, Inc. entered into that certain Ground Lease dated June 1,
1995, as amended by that certain First Amendment to Ground Lease dated June 30,
1995 by and between Landlord and Station Casinos, Inc., and assigned by
Station Casinos, Inc. to Tenant by that certain Assignment, Assumption and
Consent Agreement (Ground Lease) dated as of July 6, 1995 (the “Original Lease” and, as amended by this Second
Amendment, the “Lease”).

 

B.                                     Landlord
and Tenant desire to amend the Original Lease as provided herein.

 

Agreement

 

NOW,
THEREFORE, in exchange for the mutual promises and covenants contained herein,
the sufficiency of which is hereby acknowledged by each of the undersigned, the
undersigned parties agree as follows;

 

1.                                       The
Original Lease is hereby amended by insertion of the following as Article XIII(Z):

 

Z.                                     Landlord Accomodations.

 

1.                                         Defined.                             Landlord and Tenant
acknowledge that Tenant’s improvements and operations on the Land have been and
will continue to be subject to various regulatory requirements applicable to
the gaming industry, and that as a result of such requirements, Tenant or
certain gaming regulatory agencies may request that Landlord take, or refrain
from taking, certain actions in order to accomodate Tenant’s development and
operation of gaming facilities (collectively, “Landlord
Accommodations”).
The result of such Landlord Accommodations
may even limit or dictate to whom Landlord can or cannot transfer the Property,
enter into loans therewith or other activities which restrict the normal
operation of income-producing property, thereby potentially impacting the
value. The compliance with any such request of Landlord Accommodation shall be
in the sole discretion of the Landlord. Any granting or performance by Landlord
of any Landlord Accommodation shall be conditioned upon Tenant’s agreement to
Subsections (2) and (3) of this Section XIII(Z).

 

1

 

2.                                         Reimbursement
of Expenses.  Tenant shall promptly reimburse Landlord, upon
written demand and presentation to Tenant of appropriate documentation, for any
and all actual costs, direct and indirect, which Landlord incurs in the
granting or performance of Landlord Accommodations. Such reimbursable costs
shall include, but not be limited to, reasonable attorneys’ fees and a
reasonable allocation of Landlord’s internal management expenses.

 

3.                                         Landlord’s
Sale of Land.  In the event Landlord or The Frank J. Fertitta and
Victoria K. Fertitta Family Trust (“Designated Beneficiary”) contract to sell, transfer or convey the Land,
Tenant shall reimburse Landlord for any Impairment of Value (as defined herein)
of the Land which is caused directly or indirectly by Landlord Accommodations.

 

(a)                                  Determination
of Impairment of Value. “Impairment of Value” shall mean the difference, if any between the
contracted purchase price and the purchase price ultimately paid at closing;
provided, however, in no event shall the contracted purchase price, for
purposes of this calculation, exceed the fair market value of the Land as
determined by Section I(1)(2) of the Lease. In the event that a sale
or transfer was terminated and that termination was “caused directly or
indirectly by Landlord Accommodations,” the Impairment of Value shall equal the
contracted purchase price.

 

(b)                                  Burden
of Proof.  The Impairment of Value
shall be deemed to be “caused directly or indirectly by the Landlord
Accommodations” if, and only if, Landlord can prove that Impairment of Value
was attributable to one of the following:

 

(i)                                    restrictions
imposed as a result of Landlord Accommodations;

 

(ii)                                Landlord or Designated
Beneficiary’s inability to consummate a sale or conveyance of the Land in a
timely manner caused by the Landlord’s Accommodations; or

 

(iii)                            costs and expenses
attributable to compliance with and seeking approvals related to Landlord
Accommodations.

 

(c)                                   Right
of First Refusal. In the event the Impairment of Value is more than five
percent (5.0%) of the contracted purchase price, Landlord’s sale shall be
subject to a right of first refusal by Tenant to purchase the Property at the
contracted purchase price, which right of first refusal will be deemed to be
waived unless exercised in writing within thirty (30) days of Landlord’s notice
to Tenant asserting an Impairment of Value and requesting payment therefore.

 

2

 

3.                                         Automatic
Termination of This Section XIII(Z).                                 This
Lease shall be automatically amended, with no further execution of documents or
other actions required, to delete this Section XIII(Z) in its entirety
immediately upon the first to occur of any of the following:

 

(i)                                  Tenant consummates an
acquisition of the Landlord’s Interest;

 

(ii)                              The Designated Beneficiary
no longer has any direct or indirect interest in the Land; or

 

(iii)                          The date on which the
Landlord Accommodations are no longer in effect.

 

2.                                       The
terms and provisions of this Second Amendment shall be applicable only to the
undersigned Landlord and Tenant and may not be assigned, transferred or
conveyed to any other party whatsoever.

 

3.                                       Except
as amended herein, the Lease remains in full force and effect, and Landlord and
Tenant ratify the Lease as amended herein.

 

4.                                       All
capitalized terms used in this Second Amendment and not defined herein shall
have the meaning ascribed thereto in the Original Lease.

 

5.                                       This
Second Amendment shall be governed by and construed in accordance with the laws
of the State of Nevada.

 

6.                                       This
Second Amendment may be executed in any number of counterparts, each of which
shall be deemed an original and all of which together shall constitute one and
the same instrument.

 

WITNESS THE
EXECUTION HEREOF by each of the undersigned, to be effective as of the date
first set forth above.

 

	
  LANDLORD

  	
  TENANT

  
	
   

  	
   

  
	
  Texas Gambling Hall & Hotel, Inc.,

  	
  Texas Station, Inc.,
  a Nevada

  
	
  a Nevada corporation

  	
  corporation

  
	
   

  	
   

  
	
  By:

  	
   /s/ W. J. Bullard

  	
   

  	
  By:

  	
   /s/ Scott M Nielson

  	
   

  
	
  Name:

  	
   William J. Bullard

  	
   

  	
  Name:

  	
  Scott M Nielson

  	
   

  
	
  Title:

  	
  Secretary

  	
   

  	
  Title:

  	
  Secretary

  	
   

  
										

 

3Exhibit
10.1

 

Acusphere, Inc.

(the “Company”
or “Acusphere”)

 

MANAGEMENT INCENTIVE
COMPENSATION PLAN

2006

 

Purpose of Management Incentive Compensation
Plan (“MIC Plan”)

 

•                  Increase
management focus on realistic goals intended to create value for shareholders;

 

•                  Encourage
senior management to work as a team to achieve the Company’s goals;

 

•                  Encourage
individuals to realize goals that are meaningful to the Company;

 

•                  Provide
incentives for participants to strive for achievement above and beyond the
Company goals; and

 

•                  Help
attract and retain high quality senior management personnel.

 

Eligibility

 

Participants in the MIC Plan are to be
recommended by the President and CEO and approved by the Compensation
Committee.

 

Minimum Company Achievement Level to Establish
a Bonus Pool

 

Within 30 days of Board approval of the
Operating Plan, the Compensation Committee will meet to agree upon the
Corporate Goals and to establish a percentage weighting to each Corporate Goal,
based upon relative importance as determined by the Compensation Committee in
its sole discretion. These percentages will be used to calculate the Company
Achievement Level at year end.  The
Company must have achieved at least the following percentage of the Company
goals at year end in order for any individual to be eligible for a bonus.

 

	
  Minimum Company Achievement Level:

  	
  80% of Corporate Goals

  

 

 

If the Minimum Company Achievement Level is
reached, each individual will be eligible for his/her full Bonus Potential. If
the Minimum Company Achievement Level is not reached, no one will be awarded
any bonuses. If the Board changes the Corporate Goals in the middle of the
year, the Compensation Committee will work in good faith to realign the
corporate and individual goals with the MIC Plan.

 

Bonus Potential

 

Bonus levels are to be created on an
individual basis by the Compensation Committee. In general, the Bonus Potential
shall be the following as a percentage of base salary:

 

1

 

	
  CEO

  	
   

  	
  50

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  CFO

  	
   

  	
  40

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  Sr. VP’s

  	
   

  	
  30

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  VP’s

  	
   

  	
  20

  	
  %

  

 

Bonus Formula

 

The actual amount of the bonus paid will be
calculated using a goals based formula. 
The CEO’s goals are the Corporate Goals. Within 30 days of the approval
and weighting of the Corporate Goals, the CEO will inform the Compensation
Committee of the individual goals, and their weighting, for all eligible
participants.  Such goals may only be
changed by the Compensation Committee with respect to the President and CEO and
by the President and CEO with respect to other MIC Plan participants provided
that the President and CEO notify the Compensation Committee of such change(s).

 

Participant’s Bonus = Bonus Potential*
Percentage of Goals Achieved

 

Compensation Committee Discretion

 

One of the competitive advantages of a small,
rapidly-growing company like Acusphere, is its ability to react quickly to a
changing environment and change priorities to address this new
environment.  The Compensation Committee shall
have discretion to modify the corporate and individual goals, and to recognize
achievements over and above the agreed upon goals by increasing the Bonus
Potential above the targeted range. 
Accordingly, the Compensation Committee may elect to award bonus
payments in amounts smaller or greater than the bonus amounts than would
otherwise be suggested by the MIC Plan, in its sole discretion.

 

Timing of Payment

 

Annual payments after approval by the
Compensation Committee (intended to be within 90 days of year-end). The
participant must be in the continued employ of the Company at the time of bonus
payment.

 

Taxes

 

All payments are subject to the withholding
of applicable taxes.

 

2

 

Administration

 

The MIC Plan is administered by the
Compensation Committee.  It does not
represent an employment contract.  It can
be cancelled or amended by the Compensation Committee at any time.

 

3

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