Document:

ex10_7.htm

     EXHIBIT
10.7 

     Joinder Agreement for
Securities Purchase Agreement 

     

     

     The
undersigned hereby agrees, effective as of the date hereof, to become a party to
that certain Securities Purchase Agreement (the “Agreement”) dated as
of February 24, 2010, by and among SinoHub, Inc. (the “Company”) and the
parties named therein, and for all purposes of the Agreement, the undersigned
shall be included within the term “Investor” (as defined
in the Agreement).  The undersigned further confirms that the
representations and warranties contained in Section 3.2 of the Agreement are
true and correct as to the undersigned as of the date
hereof. 

     

     Date:
February 25, 2010 

     

    
      	  
       	
               NAME
      OF INVESTOR 

            
	  
       	  
       
	  
       	  
       
	  
       	  
       
	  
       	
               By: 

            	
                /s/
      Matthew Hayden 

            
	  
       	  
       	
               Name:  Matthew
      Hayden 

            
	  
       	  
       	
               Title:  Investor 

            

    

     

    
      	  
       	
               Investment
      Amount:  $     

            	
               150,000 

            
	  
       	  
       
	  
       	
               Tax
      ID
    No.:         

            	  
       

    

     

     

    
      	  
       	
               ADDRESS
      FOR NOTICE 

            
	  
       	  
       
	  
       	
               c/o: 

            	
                
      Merrill Lynch 

            

    

     

    
      	  
       	
               Street: 

            	
                
      150 Fayetteville Street 

            

    

     

    
      	  
       	
               City/State/Zip: 

            	
                Raleigh,
      NC  27601  

            

    

     

    
      	  
       	
               Attention: 

            	
                
      Valerie Ebert 

            

    

     

    
      	  
       	
               Tel: 

            	
                
      919-829-2083 

            

    

     

    
      	  
       	
               Fax: 

            	
                
      919-827-0094 

            

    

     

     

    
      	  
       	
               DELIVERY
      INSTRUCTIONS 

               (if
      different from above) 

            
	  
       	  
       
	  
       	
               c/o: 

            	  
       

    

     

    
      	  
       	
               Street: 

            	  
       

    

     

    
      	  
       	
               City/State/Zip: 

            	  
       

    

     

    
      	  
       	
               Attention: 

            	  
       

    

     

    
      	  
       	
               Tel:EX-10.1

AMENDMENT TO VOLUNTARY RETIREMENT AGREEMENT

This AMENDMENT TO VOLUNTARY RETIREMENT AGREEMENT (“Amendment”) amends the terms of the VOLUNTARY
RETIREMENT AGREEMENT (the “Agreement”) executed on September 24, 2008, by and between FIVE STAR
BANK (“FSB”) and RONALD A. MILLER (“Executive”).

WHEREAS, Executive is currently employed by FSB in a full-time capacity;

WHEREAS, Executive and FSB executed the Agreement on September 24, 2008, to establish and clarify
their respective rights and obligations arising from the retirement of Executive;

WHEREAS, pursuant to the Agreement, Executive is obligated to resign and be separated on March 31,
2010;

WHEREAS, Executive and FSB wish to continue Executive’s employment in a part-time capacity after
March 31, 2010;

NOW, THEREFORE, in consideration of the mutual promises, benefits and covenants herein contained,
Executive and FSB hereby agree to amend the Agreement as follows:

1. Paragraph 1 of the Agreement shall be amended to replace such paragraph in its entirety
with the following:

Executive shall step down from his current full-time position effective March 31, 2010.
From April 1 through September 30, 2010, or such earlier date designated by FSB, Executive
agrees to provide continuous services to FSB, as a part-time employee, on such special
projects that are specified by FSB’s CEO and CFO. The parties agree that the services
provided by Executive during this period are not expected to entail more than one day of
work per week, and Executive’s employment is “at will” and may be terminated at any time by
FSB. Executive’s salary for these continued services shall be pro-rated to correspond with
his reduction in hours, to 20% of his regular monthly base salary in effect on the date of
this Amendment. Effective March 31, 2010, Executive shall be separated from service for
purposes of Internal Revenue Code Section 409A because the level of bona fide services
Executive provides to FSB is being reduced permanently to a level less than or equal to 20
percent of the average level of bona fide services provided by Executive to FSB during the
immediately preceding 36-month period. Effective September 30, 2010, or such earlier date
as termination of employment may occur, Executive shall resign and terminate his employment
relationship with FSB. Executive’s participation in all FSB fringe benefits shall cease
September 30, 2010, or such earlier date as termination of employment may occur, with the
exception of previously vested benefits.

1

2. Paragraph 2 of the Agreement shall be amended to delete the last sentence and replace such
sentence in its entirety with the following:

In the event of Executive’s death, any payments still due Executive under this paragraph
shall be made to Executive’s named beneficiary. Executive shall have the option to change
the named beneficiary during the term payments are made under this Agreement.

3. Paragraph 3 of the Agreement shall be amended to add the following at the end of such
paragraph:

In addition, Executive shall execute a second copy of the Release of Claims on or between
September 1 and September 23, 2010 (or in the event his employment terminates between March
31, 2010 and September 1, 2010, the release must be signed within five days of the effective
date of termination). Payments under paragraph 2 shall not be made unless Executive executes
the second Release of Claims within the timeframe(s) specified above and does not revoke the
Release of Claims.

3. If any provision of this Amendment is held to be illegal, void or unenforceable, such
provisions shall have no effect upon, and shall not impair the legality or enforceability of, any
other provision of this Amendment or the Agreement.

4. This Amendment is binding upon, and shall inure to the benefit of, the parties and their
respective heirs, executors, representatives, successors and assigns.

5. Nothing herein is intended to alter Executive’s status as an at-will employee.

6. Executive acknowledges and warrants that:

(a) He has had the opportunity to consider, for up to twenty-one days, the terms and
provisions of this Amendment;

(b) He has been advised by FSB in this writing to consult, and has had adequate
opportunity to consult with, an attorney of his choosing prior to executing this Amendment;

(c) He has carefully read this Amendment in its entirety, has had an opportunity to
have its provisions explained to him by an attorney of his choosing, and fully understands
the significance of all of its terms and provisions; and

(d) He is signing this Amendment voluntarily and of his own free will and assents to
all of the terms and conditions contained herein.

2

7. This Amendment shall not become effective until the eighth day following its execution by
Executive (the “Effective Date”). Executive shall have the right to revoke this Amendment for a
period of seven (7) days following his execution of this Amendment by giving written notice by
personal delivery of such revocation to FSB. If Executive revokes this Amendment prior to the
Effective Date, the promises and obligations contained herein shall be null and void.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment.

	 	 	 
	Ronald A. Miller

	 	Peter G. Humphrey, President & CEO
	 

	 	 
	RONALD A. MILLER

	 	FIVE STAR BANK
	Date: March 2, 2010

	 	Date: 3/2/2010
	 

	 	 

3EX-10.1

Unica Corporation

FY 2010 Executive Bonus Plan

I. Purpose of the Executive Bonus Plan

Unica Corporation (the “Company” or “we”) has established the FY 2010 Executive Bonus Plan (the
“Plan”) to reward eligible participants (“Participants” or “you”) for their contributions to the
success of the Company. The Plan is effective October 1, 2009 through September 30, 2010. The
Plan supersedes and cancels all previous plans and programs relating to corporate bonus payments.
We may modify all or any portion of the Plan at any time, which may result in the revision of the
entire Plan.

The principal objectives of the Plan are as follows.

	 	A.	 	To ensure appropriate recognition of your contributions to the success of the Company.

	 	B.	 	To support the Company’s success by rewarding your performance that leads to increased
profitability for the Company.

	II.	 	Target Bonus

If you are eligible for the Executive Bonus Plan, you will be assigned a target bonus amount (as a
percentage of your base salary) by the Compensation Committee of the Board of Directors. You will
be eligible to earn a bonus of up to 150% of your target bonus based on our profitability
achievement and your individual performance.

	III.	 	Bonus Determination

Overall

The amount of your overall bonus will be based primarily on our Non-GAAP Operating Income (“Op
Inc”) achievement against an internal target Op Inc for FY2010. The bonus will be funded on a
straight-line basis beginning at 50% of our FY2010 Plan Op Inc, up to a maximum of 150% (e.g., 75%
Op Inc achievement would make you eligible for an aggregate bonus of up to 75% of your target
bonus). If we achieve less than 50% of our FY2010 plan, then you will not be eligible for a bonus.
Based on your individual performance during the year your bonus may increase or decrease (see
“Individual Performance” below).

Quarterly Payments

Bonus payments will be paid quarterly up to the maximum percentages listed below if we achieve 50%
or greater of our year-to-date (YTD) Op Inc target for such quarter, provided that we must have at
least break-even Op Inc in Q1 in order to achieve a bonus payment in Q1. Payments for any quarter
will be made on a one-time, lump-sum basis in the payroll cycle following the public announcement
of earnings for that quarter.

	 	 	The specific calculation for each quarterly payment is determined as follows:

	 	 	 
	Q1 Payment:
	 	If we achieve break-even Op Inc or better for Q1, you will be

eligible to receive 20% of your target bonus.

 

	Q2 Payment:
	 	If we achieve 50% or greater of the YTD Op Inc target for the

first two quarters of FY 2010, then you will be eligible to

receive an amount equal to (a) the corresponding percentage of

Op Inc target achieved (up to a maximum of 100%) of 40% of

your target bonus, minus (b) the amount of your Q1 Payment, if

any. 

 

	Q3 Payment:
	 	If we achieve 50% or greater of the YTD Op Inc target for the

first three quarters of FY 2010, then you will be eligible to

receive an amount equal to (a) the corresponding percentage of

Op Inc target achieved (up to a maximum of 100%) of 60% of

your target bonus, minus (b) the sum of your Q1 Payment and

your Q2 Payment, if any.

 

	Final Payment:
	 	If we achieve 50% or greater of the full year Op Inc. target,

then you will be eligible to receive a final bonus payment

after our fourth fiscal quarter in an amount equal to (a) the

corresponding percentage of Op Inc target achieved (up to a

maximum of 150%) of your target bonus, minus (b) the sum of

your Q1 Payment, Q2 Payment and Q3 Payment, if any.

 

	 	 	Individual Performance

Your individual performance during FY2010 will impact your bonus in two ways:

	 	1.)	 	in order to be eligible for any bonus payments, you must be an employee in good
standing and must not be on a performance improvement plan; and

	 	2.)	 	your Final Payment may be increased or decreased based upon your individual performance
against your stated goals and objectives during the year.

	IV.	 	Non-GAAP Operating Income

Non-GAAP Operating Income (Op Inc) is a financial measure of the Company’s operating profitability.
Specifically, for purposes of this Plan, Op Inc is calculated as our total revenue, minus total
operating expenses and cost of goods sold, including payments under this Plan (up to 100% funding),
but excluding share-based compensation expense, amortization of intangible assets and any other
extraordinary items determined by the Compensation Committee. Non-GAAP Operating Income is
determined by the finance department of the Company, as approved by the CFO, provided that the
exclusion of any extraordinary items is subject to Compensation Committee approval. In addition,
the Op Inc target may be adjusted (i.e. increased or decreased as appropriate) by the Compensation
Committee in its discretion to account for any extraordinary items such as an acquisition by Unica
which was not accounted for at the time the original target was set. In the event the Op Inc
target is adjusted pursuant to this section, the bonus calculations will be adjusted against the
new target Op Inc going forward, however, retroactive adjustments against past payouts will not be
made.

IV. Eligibility for a Bonus

You are eligible for a bonus under this Plan if:

	 	•	 	you are a current executive employee and do not participate in another bonus,
commission, or incentive program; or

	 	•	 	you became a new executive employee during any quarter during the fiscal year.

If you are hired during the year, you will be eligible under this Plan beginning the quarter of
your hire date and your target bonus amount shall be calculated on a pro-rata basis as follows:

	 	•	 	Bonus is pro-rated according to the length of time you performed in the designated role
during the quarter; and

	 	•	 	If you are hired during the last month of the quarter, you are not eligible until the
following quarter.

If you are on a Leave of Absence (LOA) for more than 30 days in a respective quarter, you will be
ineligible for a bonus payment for that quarter, subject to applicable local laws.

General Terms and Conditions

	1.	 	At-Will Employment

Nothing in this plan shall be construed to create or imply a contract of employment for a term
between any Plan Participant and the Company or any of its subsidiaries. The Company reserves the
right to terminate the employment of, or the participation in the Plan of, any Plan Participant at
any time without cause.

2. Changes to Plan

The Company at its sole discretion may publish revisions to the Plan. Such revisions shall govern
the operation of the Plan for all Participants. No revisions or modification to the Plan shall be
effective unless approved in writing by the Compensation Committee.

3. Disputes

The Company’s CEO will make recommendations to the Compensation Committee of the Board of Directors
with respect to disputes arising out of the administration and/or interpretation of this Plan, who
will make all final decisions on the determination of bonus payments in accordance with the Plan.

4. Termination of Employment

A Participant whose employment terminates for reasons of death or disability (as defined in
Treasury Regulation Section 1.409A-3(i)(4)) will be eligible for a prorated award based upon the
number of months of eligibility completed during the plan year. Subject to applicable local laws,
a Participant who voluntarily resigns or is terminated by the Company will not be eligible for a
bonus if they are not employed on the date of payment.

5. Withholding Taxes, Etc.

Bonus payments are subject to all applicable deductions, withholdings, and benefit elections.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00169-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00169-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00169-of-00352.parquet"}]]