Document:

EX-10.7

 Exhibit 10.7 

Covetrus, Inc. 
 Non-Employee Director Compensation Policy 
 Non-Employee
Directors (as defined in the Covetrus, Inc. 2019 Omnibus Incentive Compensation Plan, as it may be amended and restated from time to time (the “Plan”)) of Covetrus, Inc., a Delaware corporation (the “Company”), shall be eligible
to receive cash and/or equity compensation as set forth in this Non-Employee Director Compensation Policy (this “Policy”). The purpose of this Policy is to provide a total compensation package
that enables the Company to attract and retain, on a long-term basis, high caliber directors who are not employees or officers of the Company or its subsidiaries.

This Policy shall remain in effect until it is revised or rescinded by further action of the Board or the Compensation Committee of the Board
(the “Compensation Committee”). 
  

	A.	 Annual Cash Retainer 

 

					
	 All Non-Employee Directors
	  	$	60,000/year	 
	 Non-Management Chair
	  	$	90,000/year	 
	 Lead Independent Director
	  	$	60,000/year	 
	 Audit Committee Chair
	  	$	30,000/year	 
	 Compensation Committee Chair
	  	$	25,000/year	 
	 Nominating and Governance Committee Chair
	  	$	15,000/year	 
	 Strategy Committee Chair
	  	$	15,000/year	 
	 Audit Committee Member
	  	$	15,000/year	 
	 Compensation Committee Member
	  	$	12,500/year	 
	 Nominating and Governance Committee Member
	  	$	7,500/year	 
	 Strategy Committee Member
	  	$	7,500/year	 

 For purposes of clarity, (i) a Non-Employee Director who serves
as the chair of a committee will be entitled to the committee chair annual cash retainer for that specific committee in addition to the Non-Employee Director annual cash retainer, but will not be entitled to
the committee annual cash retainer for serving as a member of that specific committee and (ii) a Non-Employee Director who serves as Non-Management Chair or Lead
Independent Director will be entitled to the Non-Management Chair or Lead Independent Director annual cash retainer, as applicable, in addition to the Non-Employee
Director annual cash retainer. 
 Annual cash retainers will be paid on the first trading day after January 1 of each year in which the
Non-Employee Director serves as a Non-Employee Director of the Board (the “Annual Retainer Payment Date”) and will be paid as soon as administratively
practicable following the Annual Retainer Payment Date. If a Non-Employee Director is elected or appointed to serve as a member of the Board, or appointed to serve as a member of a committee or as a chair of a

 
committee in which such director is not a member prior to such appointment, during a calendar year but following the Annual Retainer Payment Date for such calendar year, his or her annual cash
retainer(s) (or additional cash retainer if the Non-Employee is serving in a different capacity) will be prorated, by multiplying such annual cash retainer(s) by a fraction, the numerator of which is the
number of days from the appointment or election date to December 31 of such calendar year, and the denominator of which is 365 (“Prorated Annual Cash Retainer”). The Prorated Annual Cash Retainer shall be paid to the Non-Employee Director as soon as administratively practicable following such appointment or election. A Non-Employee Director that changes roles during a calendar year but
following the Annual Retainer Payment Date for such calendar year will be entitled to a proration of the incremental increase, if any, between his or her annual cash retainer amount received for such calendar year and the increased cash retainer
amount. For the avoidance of doubt, the Non-Employee Director is not required to repay his or her annual cash retainer(s) or any portion thereof in the event that such
Non-Employee Director’s role is changed or service is terminated during the calendar year. 
  

	B.	 Initial Equity Grant 

For calendar year 2019, each Non-Employee Director will receive an initial equity award of restricted
stock units (“Initial Equity Award”) with a Fair Market Value of $225,000, based on the closing sale price of the Company’s common stock on the date of grant. The Initial Equity Award will be granted in the first fiscal quarter of
2019, or as soon thereafter as administratively practicable. 
  

	C.	 Annual Equity Grant 

On the date of each annual meeting of the Company’s stockholders (“Annual Meeting”), each
Non-Employee Director who is continuing as a director following the date of such Annual Meeting will be granted restricted stock or restricted stock units (“Annual Equity Award”), as determined by
the Compensation Committee, with a Fair Market Value of $225,000, based on the closing sale price of the Company’s common stock on the date of grant. For purposes of clarity, no Non-Employee Director who
receives an Initial Equity Award will be entitled to, or be granted, an Annual Equity Award during calendar year 2019. 
 If a Non-Employee Director is appointed or elected at any time other than an Annual Meeting, the Non-Employee Director will be eligible to receive a prorated Annual Equity Award,
as of the date of his or her appointment or election, for the period prior to the first Annual Meeting following his or her appointment or election, determined by (i) multiplying the amount of the annual equity award by a fraction, the
numerator of which is the number of days from the date of appointment or election to the first anniversary of the most recent Annual Meeting, and the denominator of which is 365, and (ii) dividing such amount by the per share Fair Market Value
on the date of appointment or election, rounded up to the nearest whole share. 

	D.	 Additional Terms 

1. Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Plan. 

2. All equity grants under this Policy will be made under and pursuant to the Plan. The terms and conditions of all such equity grants,
including with respect to vesting, will be set forth in the applicable award agreement. 
 3. The compensation described in this Policy is in
addition to reimbursement of all out-of-pocket expenses incurred by Non-Employee Directors in attending meetings of the Board.

 Approved: February 28, 2019EX-4.(c)

 Exhibit 4(c) 

THE GORMAN-RUPP COMPANY 
 EMPLOYEE
STOCK PURCHASE PLAN 
 AS AMENDED AND RESTATED AS OF JULY 1, 1995 

1. PURPOSE. The purpose of the Plan is to promote employee loyalty by encouraging employees of The Gorman- Rupp Company (the “Company”) to
participate in stock ownership. To that end, the Plan is designed to provide a convenient means through which employees of the Company and its designated subsidiaries may own shares in the Company and a method by which the Company may assist in
achieving this objective. 
 2. TERM. The operation of the Plan shall commence on the date fixed by the Company and shall continue from year to year, but it
may be modified or discontinued by the Company’s Directors at any time. 
 3. ELIGIBILITY. All persons who are regular full-time employees of the
Company or of one of its designated subsidiaries and who are also 18 years of age shall be eligible to participate in the Plan. Absence on approved leave shall not be considered an interruption of employment for any purpose of the Plan. 

4. PARTICIPATION. An eligible employee may elect to participate in the Plan at any time by executing and delivering a prescribed form to the Company. Upon
enrollment, a participating employee shall elect to contribute from a minimum of $20 to a maximum of $500 per month of his compensation through payroll deduction, commencing no later than approximately six weeks after such election. The election is
made by filing the appropriate payroll deduction authorization form with the Company and the appropriate purchase order form with the Administrator of the Plan. All payroll deductions shall be paid into the Plan and administered for the account of
the participating employee as provided in the Plan. The election may be terminated or amended at any time by the filing of supplemental payroll deduction and purchase order forms. (An election to terminate payroll deductions does not, however,
automatically constitute a notice of the employee’s intention to withdraw from the Plan.) “Compensation” shall mean base earnings, including commissions, before deductions, but excluding overtime, bonus or other payments. 

5. COMPANY CONTRIBUTIONS. The Company (or one of its subsidiaries, as the case may be) shall make a contribution to the Plan for the account of each
participating employee. The Company’s contribution shall be made at approximately the same time as the payroll deduction for a participating employee, and shall be equal to a percentage of the contribution made by such participating employee
through his payroll deduction as follows: 
  

					
	 Length of Employee’s Service
 With the
Company or One of its
 Subsidiaries
	  	 Company’s Contribution as a

Percentage of Employee

Contribution
	 
	 0-4 years
	  	 	10	% 
	 5-9 years
	  	 	15	% 
	 10 years and over
	  	 	20	% 

 6. DIRECT CASH EMPLOYEE CONTRIBUTIONS. Any employee who is a participant in the Plan may elect, from time to time by executing
and delivering the prescribed form on a monthly basis, to make direct cash contributions to the Administrator of the Plan. All such contributions, which shall be in amounts of not less than $20 nor more than $1,000, shall be commingled with other
funds paid into the Plan and administered for the account of the participating employee as provided in the Plan. Neither the Company nor any of its subsidiaries shall make a contribution to the Plan with respect to any direct cash contributions made
by a participating employee. 
 7. WITHHOLDING. All taxes subject to withholding payable with respect to the amounts to be contributed to the Plan pursuant
to Paragraph 5 will be deducted from the balance of the participant’s salary on an annual basis and will not reduce the amounts to be paid into the Plan. 

 8. ADMINISTRATOR. All contributions to the Plan, whether by a participating employee through payroll
deduction, by the Company or one of its subsidiaries pursuant to Paragraph 5 or by a participating employee pursuant to Paragraph 6, shall be paid monthly to the person, firm or corporation designated by the Company as Administrator of the Plan. The
Company shall cause the Administrator to hold all funds received by it; and the Administrator shall be under no obligation to pay interest on any funds held by it hereunder at any time. 

9. STOCK PURCHASES. Not later than 30 days after each payment to the Administrator as provided above, the Company shall cause the Administrator to apply the
funds then in its custody to the purchase at prevailing market prices of the number of the Company’s Common Shares which can be purchased with such funds. All purchases of shares as herein provided may be made in the name of the Administrator
or its nominee. The shares purchased with the funds received by the Administrator under the Plan shall be credited pro rata to the accounts of the participants of the Plan in accordance with their respective interests in such funds. 

10. DIVIDENDS AND OTHER DISTRIBUTIONS. Cash dividends and other cash distributions received by the Administrator on Common Shares held in its custody shall be
credited pro rata to the accounts of participating employees in accordance with their interests in the Common Shares with respect to which the dividends or distributions are paid or made and shall be applied, at the close of each calendar quarter
after receipt thereof by the Administrator, to the purchase of additional Common Shares of the Company and such Common Shares shall be credited to the accounts of the respective participating employees in the manner provided in Paragraph 9;
provided, however, any participating employee may direct the Administrator to forward to him all such cash payments made with respect to Common Shares in his account. Dividends paid in Common Shares of the Company which are received by the
Administrator with respect to Common Shares held in its custody shall be allocated to the respective participating employees in accordance with their interests in the Common Shares with respect to which the stock dividends were paid. 

11. DELIVERY. Certificates representing all or any portion of the shares and all or any portion of the cash credited to the account of a participating employee
shall be delivered to such participant on request, except that there shall be no delivery of a certificate representing fractional shares. Upon request by a participating employee, the Administrator shall sell any or all Common Shares credited to
such participant’s account and shall deliver the proceeds of sale to the participant, after deduction of brokerage commissions payable in connection with such sale. 

12. SHAREHOLDER RIGHTS. 
 (a) Prior to the time when the
Administrator of the Plan makes delivery to a participating employee of certificates representing the Company’s Common Shares purchased for his account hereunder, such Common Shares may be registered in the name of the Administrator or its
nominee. Before each annual or special meeting of its shareholders, the Company shall cause to be sent to each participating employee as of the record date of such meeting a copy of the proxy solicitation material therefor, together with a form
requesting confidential instructions to the Administrator on how to vote the Common Shares allocated to such participant’s account. Upon receipt of such instructions, the Administrator shall vote the Common Shares as directed. Instructions
received by the Administrator shall be held in the strictest confidence and shall not be divulged or released to any person, including officers or other employees of the Company. To the extent a participating employee does not direct the
Administrator in whole or in part with respect to the exercise of voting rights arising under the Common Shares allocated to his account, such voting rights shall not be exercised by the Administrator. The preceding sentence shall not, however,
limit any reasonable attempt by the Administrator to obtain voting instructions from a participating employee. 
 (b) In the event that the Administrator
determines that a tender offer for the Company’s Common Shares has commenced, the Administrator shall cause to be sent to each participating employee who, on the effective date of such offer or at any time during the effective period of such
offer has Common Shares allocated to his account, all pertinent information in respect of such offer, including all the terms and conditions thereof, together with a form prescribed by the Administrator pursuant to which each participating employee
may direct the Administrator to tender or sell pursuant to such offer all or part of the Common Shares so allocated to his account. The Administrator shall tender or sell only those Common Shares as to which valid and timely directions to tender or
sell are received and not validly and timely revoked; all other Common Shares held under the Plan shall continue to be held by the Administrator. If during the course of such offer, there shall arise any issue on which participating employees who
have directed the tender or sale of any of their Common Shares are required or have an opportunity to alter their circumstances (including, but not limited to, an opportunity to withdraw Common Shares previously tendered and an opportunity to tender
Common Shares in a competing offer), the Administrator shall, in accordance with the foregoing provisions and to the extent reasonably practicable, solicit the directions of such participating employees with respect to each such issue and act in
response to such directions. 

 13. STATEMENT OF ACCOUNT. The Company shall cause the Administrator to furnish quarterly statements to each
participating employee showing all transactions in his account during the prior quarter and the status of the account at the end of the quarter. 
 14.
COSTS. The Company shall pay all costs and expenses in connection with the administration of the Plan, including all brokerage commissions payable in connection with the purchase of shares hereunder; except that the Company shall not pay brokerage
commissions payable in connection with reinvested dividends as provided in Paragraph 10 or brokerage commissions payable in connection with sales of shares requested by a participant as provided in Paragraph 11. 

15. WITHDRAWAL FROM THE PLAN. A participant may withdraw from the Plan by giving written notice to the Company or the Administrator. The effective date of such
withdrawal shall be one week after such notice is received. Upon such withdrawal, the participant shall be entitled to receive from the Administrator, as soon as practicable, (a) certificates for the number of whole Common Shares of the Company
credited to the account of such participant, (b) the cash value of any fractional share credited to such participant’s account, and (c) any cash credited to the participant’s account which has not been invested by the
Administrator. 
 16. DEATH OR TERMINATION OF EMPLOYMENT. In the event of the death of a participating employee or of the termination of his employment for
any other reason, he or his personal representatives shall be entitled to receive, upon written request to the Company or the Administrator, effective one week after such notice is received, certificates representing an amount of shares and cash
determined in the same manner and deliverable at the same time as if he had withdrawn from the Plan by giving notice of his withdrawal. 
 17. AMENDMENT OR
TERMINATION OF PLAN. The Directors of the Company may at any time terminate the Plan or may make such amendment of the Plan, effective as of the first day of any calendar month subsequent to taking such action, as the Directors may deem proper and
in the best interests of the Company, in each case without the assent of any participating employee or action by the Company’s shareholders; provided, however, that no such amendment shall deprive any participant of any Common Shares of the
Company which he may acquire or which may have been acquired for him through or as a result of the Plan. In the event of any termination of the Plan, each participant shall be entitled to receive certificates representing an amount of shares and
cash determined in the same manner and deliverable at the same time as if he had withdrawn from the Plan by giving notice of his withdrawal effective as of the effective termination date. 

18. TRANSFERS. The interests of any participating employee under the Plan may not be transferred by such participating employee other than by will or the laws
of descent and distribution and may not be encumbered in any manner. The rights of any participating employee hereunder shall be exercisable during such participant’s lifetime only by such employee.

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