Document:

Exhibit 10.1

 

 

	
CONFIDENTIAL AND PRIVILEGED 

 

March 21, 2017

 

 

 

Hand   Delivery

 

Michael Knell

74 Lester Lane

Weymouth, MA 02188
    	

 

40 Manning Road

Billerica, MA 01821, USA

Tel. +1 (978) 663-3860

Fax +1 (978) 667-5993

info@bruker.com

www.bruker.com

 
    

 

Project Completion Agreement

 

Dear Mike:

 

This letter serves to follow up on your meeting with Tony Mattacchione on March 21, 2017 and subsequent discussions thereafter, whereby Bruker Corporation (“Bruker”) agreed to accept your resignation and announce your intent to pursue a new employment opportunity, subject to your acceptance of the terms set forth herein. This letter agreement and release of claims (“Agreement”) lays out the terms of your separation and our mutual promises to each other.

 

Project Completion

 

As you know, a condition to receiving your ICP bonus is that you be employed as of the day of payout. Bruker will decide to accept your resignation effective March 31, 2017 and, because you indicated that you would be willing to remain employed through April 21, 2017, if you are amenable to the terms of this letter, we are willing to place you on a paid administrative leave effective April 1 to April 21, 2017. With the exception of the Project Completion goals and objectives outlined in this letter, you will be relieved of your regular job duties effective April 1, 2017 and will no longer have access to Bruker systems or facilities after that date. The period from now until April 21, 2017 (or such earlier date as determined by Bruker in its sole discretion) will be referred to as the “Transition Period”.

 

Bruker is willing to continue your employment through the Transition Period to meet the goals, objectives, and conditions outlined below. Should you successfully complete the Transition Period, you will receive the equivalent of your 2016 ICP bonus payout (Sixty-Eight Thousand Seven Hundred Eighty-Seven Dollars and Fifty-Five Cents, ($68,787.55)) as “Retention Pay” and have the opportunity to receive additional severance benefits, in exchange for a release in a form acceptable to Bruker.

 

Specific Goals/Objectives for Project Completion: During the Transition Period, we expect you to complete the following transition tasks (“Project Completion”):

 

1.     Ad-hoc technical accounting research

 

2.     Performance appraisals for staff

 

 

3.     Business combinations — purchase accounting, valuations with KPMG

 

4.     Coordinate employee communication directly with Justin Fossbender

 

5.     Perform other duties as required for successful project transition.

 

General Conditions: In order to be eligible for the opportunity to receive the Retention Pay and the severance benefits described herein, you understand the following conditions will be in place:

 

You perform your job transition duties and coordinate directly with Tony Mattacchione and Justin Fossbender to complete tasks.

 

You will not continue with Project Completion if any one of the following occurs:

 

(a)   You enter into an employment disability status (i.e., STD, LTD), so long as permissible under applicable law;

(b)   You voluntarily resign your employment from Bruker prior to completion of your assigned goals/objectives or the end of the Transition Period;

(c)   You transfer out of your current position to another position outside of Bruker Corporate Finance before the end of the Transition Period;

(d)   You are on an active performance improvement plan; or

(e)   Your employment is terminated for “cause” (defined to include, but not be limited to, neglect of duty, criminal conduct connected with employment or which demonstrates unfitness for employment, material violation of Bruker’s employment policies, poor performance or misconduct) during the Transition Period.

 

Outplacement Services

 

Bruker agrees to pay up to a maximum of Six Thousand Dollars ($6,000.00) for up to four (4) months of Comprehensive Outplacement Services with Keystone Partners. We have enclosed additional information describing this benefit from our vendor, Keystone Partners. You may begin utilizing these services immediately upon execution of this Agreement.

 

Severance Pay and Insurance Continuation Following Transition Period

 

In addition, should you remain employed in good standing at the end of the Transition Period, we will provide you with severance pay and other benefits in exchange for a Release Agreement to be provided towards the end of the Transition Period. You will receive twenty-six (26) weeks of pay for your Bruker service and health insurance continuation of twenty-six (26) weeks at Bruker’s expense. You must sign the Release Agreement no earlier than your last day of actual work in a form acceptable to Bruker. You will receive this Release Agreement prior to your last day of work, but you will not be asked to sign it until after the end of your Transition Period.

 

Employee Patent and Confidentiality Agreement

 

According to the Employee Patent and Confidentiality Agreement you previously signed (Exhibit A), you are bound to a non-competition and non-solicitation clause of one (1) year from your separation

 

 

date. You acknowledge that the obligations described in the Employment Agreement and Employee Patent & Confidentiality Agreement survive this Agreement and that you continue to be bound thereto.

 

Release

 

In return for the opportunity to resign and serve out a Transition Period (and thus receive the ICP), the Outplacement services and other benefits being offered to you at this time, you agree to release Bruker, and its officers, directors, employees, and agents (in this paragraph collectively referred to as the “released parties”) from any and all liability or claims, of any nature. The claims you are releasing include but are not limited to those arising under any federal, state or local human rights, civil rights, employment, wage-hour, pension or labor laws, rules and/or regulations, public policy, contract or tort laws, or any claim for misrepresentation, defamation or invasion of privacy, or otherwise. You also release Bruker from any claim for retaliation, constructive or wrongful discharge, any claim that Bruker dealt with you unfairly or any other claims arising under common law. You understand that you are releasing claims pursuant to M.G.L. Chapter 149 including but not limited to claims for untimely, underpayment, or non-payment payment of wages (§§148 and 151), discrimination and/or retaliation for seeking to enforce your wage and hour rights (§148A), misclassification as an independent contractor (§148B), improper withholdings or deductions (§§150C, 152), tip or service charge related claims (§152A), and claims pursuant to M.G.L. Chapter 151 relating to minimum wage (§§1, 19), discrimination and/or retaliation for seeking to enforce your rights under Chapter 151, and/or overtime pay (§§1A, 1B). You hereby acknowledge and understand that this is a General Release, and that this means you are giving up your right to sue the Company for any and all claims, including but not limited to the specific claims mentioned in this paragraph.

 

This release covers claims that you know about, and those that you may not know about, up through the date of this Agreement. This release includes claims for attorney’s fees, costs, and interest. You promise further that as of the date on which you signed this release, you have not brought any claims of the type released against any of the released parties. You agree that you are not otherwise entitled to the benefits being offered to you in this Agreement. The furnishing of consideration under this Agreement will not be deemed an admission of liability or wrongdoing by Bruker. By signing this Agreement, neither you nor Bruker is admitting any wrongdoing. You release all types of relief available in any of the released claims including all types of damages and attorney’s fees. You agree that you are responsible for your own attorney’s fees. While you agree and understand that this is a general release of all claims through the date of your signing it, this Agreement does not prohibit you from filing a charge with, communicating with, or participating in any investigation or proceeding conducted by the Equal Employment Opportunity Commission, the Massachusetts Commission Against Discrimination (“MCAD”), or any other federal, state or local governmental agency or entity. You also understand and agree that although you may file such a charge or participate in any such investigation or proceeding, you shall not be entitled to receive any award or damages, to the extent consistent with applicable law. This Agreement does not release any rights which may not legally be waived or released.

 

 

Time to Consider this Agreement

 

You acknowledge that you have had a reasonable time to consider this Agreement, that you understand it, and that you have voluntarily decided to accept the terms of this Agreement. If you decide not to accept this Agreement on or before 5:00 PM on Thursday, March 23, 2017, the offers made herein will expire and be withdrawn.

 

Confidentiality

 

You agree that you will not disclose the terms of this Agreement to any person or entity other than your spouse/significant other, legal counsel, and tax advisors, subject to their agreement to be bound by this confidentiality provision.

 

Employment At-Will

 

Nothing in this document is meant to create a contract for employment for any specific period of time. You will remain an “employee at- will” and either you or Bruker may terminate the relationship at any time with or without cause or notice. This Agreement does not alter the terms of your Employee Patent and Confidentiality Agreement.

 

If you choose to agree to all of the above, please sign and return a copy of this Agreement to me no later than Thursday, March 23, 2017 before 5:00 PM ET, the expiration date for this offer. If you have any questions, please do not hesitate to contact me.

 

	
Sincerely,
    	
 
    
	
 
    	
 
    
	
/s/ Justin Fossbender
    	
 
    
	
 
    	
 
    
	
Justin Fossbender
    	
 
    
	
 
    	
 
    
	
Vice President — Corporate Human Resources
    	
 
    

 

I have read and understood this Agreement and by signing below, voluntarily accept its terms.

 

Agreed to:

 

	
/s/ Michael Knell
    	
 
    	
effective   3/23/17
    
	
 
    	
 
    	
 
    
	
Michael Knell
    	
 
    	
DateExhibit

Exhibit 10.1

FTD COMPANIES, INC.
2017 MANAGEMENT BONUS PLAN

		
	I.
	PURPOSES OF THE PLAN

1.01 The FTD Companies, Inc. (the “Company”) 2017 Management Bonus Plan (the “Plan”) is hereby established under the Incentive Bonus Program and the Stock Issuance Program of the Company’s stockholder-approved Amended and Restated 2013 Incentive Compensation Plan (as last amended and restated as of June 9, 2015, the “2013 ICP”) and is intended to promote the interests of the Company by creating an incentive program, which will pay out in cash, stock or both, to (i) attract and retain employees who will strive for excellence and (ii) motivate those individuals to achieve above-average results by providing them with rewards for contributions to the financial performance of one or more business segments or business units of the Company.

1.02 For purposes of the Plan, the financial performance for the 2017 fiscal year of the Company shall be measured to determine the bonus amounts (if any) payable for such fiscal year to the participants in the Plan. 

		
	II.
	ADMINISTRATION OF THE PLAN

2.01 The Plan is hereby adopted by the Compensation Committee of the
Company’s Board of Directors (the “Committee”) to govern “Cash Awards” (sometimes referred to in this Plan as bonuses) under the Incentive Bonus Program of the 2013 ICP and shall be administered by the Committee pursuant to the administrative authority provided the Committee under the 2013 ICP and the Incentive Bonus Program thereunder.  The Committee shall have the discretion to determine the portion of the bonus awards to be paid in cash and the portion to be paid in common stock of the Company, which common stock, if applicable, will be issued directly as vested shares under the Stock Issuance Program of the 2013 ICP.

2.02 The bonuses that may be earned under the Plan shall be tied to the financial performance of the Company for the Company’s 2017 fiscal year ending December 31, 2017 (the “2017 Fiscal Year”). The Committee shall establish the applicable performance goals for the Company in writing not later than ninety (90) days after the commencement of the 2017 Fiscal Year, provided that the outcome of the applicable goals must be substantially uncertain at the time of their establishment (the “Performance Goals Schedule”). The Performance Goals Schedule shall be attached to the minutes of the meeting or the consent resolutions at or by which such performance goals were established.

2.03 The interpretation and construction of the Plan and the adoption of rules and regulations for administering the Plan shall be made by the Committee in its sole discretion.
Decisions of the Committee shall be final and binding on all parties who have an interest in the Plan.

1

		
	III.
	DETERMINATION OF PARTICIPANTS

3.01 The following individuals (each, a “Participant”) will participate in the Plan on the following basis:

(i) The bonus potential for John C. Walden shall be allocated two-thirds (2/3) to the consolidated financial results of the Company and one-third (1/3) to the achievement of other performance criteria for the 2017 Fiscal Year established by the Board of Directors.  Such performance criteria shall be based on achievement of specific corporate objectives relating to company strategic initiatives and customer experience, each with a specified weighting.   

(ii) The bonus potential for the individuals set forth on Schedule I attached hereto shall be allocated to the financial results of the Company and to achievement of such person’s approved divisional or departmental goals for the 2017 Fiscal Year as set forth on such Schedule I next to the name of each person.  The Company’s CEO shall approve all divisional or departmental goals.
        
3.02 Except as provided below and except as otherwise provided in any employment agreement or severance agreement between the Company (or a subsidiary thereof) and a Participant, if a Participant does not continue in the employ of the Company or one of its subsidiaries through the last business day of the 2017 Fiscal Year (the “Bonus Qualification Date”), then such Participant will not be eligible to receive a bonus under the Plan. However, the following special partial payment provisions shall be in effect:

(i) Should the Participant’s employment terminate prior to the Bonus Qualification Date as a result of death or permanent disability (as defined below), then that individual or such individual’s estate shall be entitled to a pro-rated portion of the bonus such individual would have earned, based on the Company’s actual performance for the 2017 Fiscal Year, had such individual continued in the Company’s employ through the Bonus Qualification Date, and such amount will be paid entirely in cash.

(ii) A Participant who is on a leave of absence or whose employment terminates after the start of the 2017 Fiscal Year but whose leave of absence ends or whose employment recommences prior to the Bonus Qualification Date may remain eligible at the discretion of the Committee, and the Committee may provide that individual with a pro-rated portion (based on period or periods of active employment during such year) of the bonus such individual would have earned, based on the Company’s actual performance for the 2017 Fiscal Year, had such individual remained continuously in the Company’s employ through the Bonus Qualification Date.

3.03 For purposes of the Plan:

A. A Participant shall be considered an employee for so long as such individual remains employed by the Company or one or more corporations that are subsidiary corporations of the Company at all times during the 2017 Fiscal Year.

2

B. Each corporation (other than the Company) in an unbroken chain of
corporations beginning with the Company shall be considered to be a subsidiary of the Company, provided each such corporation (other than the last corporation in the unbroken chain) owns, at the time of determination, stock possessing more than fifty percent (50%) of the total combined voting power of all classes of stock in one of the other corporations in such chain.

C. Unless defined otherwise in any employment or severance agreement entitling the Participant to a full or pro-rated bonus upon a disability termination, permanent disability shall mean the Participant’s inability to engage in any substantial activity necessary to
perform the duties and responsibilities of his position with the Company (or any subsidiary thereof) by reason of any medically-determinable physical or mental impairment which can be expected to result in such individual’s death or which has lasted, or can be expected to last, for a continuous period of not less than twelve (12) months.

D. In no event shall there be any duplication of bonus payments under this Plan and any employment agreement or severance agreement between the Company (or any subsidiary thereof) and a Participant that provides such individual with a stated bonus or bonus formula for a particular year or includes an annual bonus payment as part of a severance pay formula thereunder. Accordingly, in order to avoid any such potential duplication, such Participant - in a situation implicating duplicative payments - shall only be entitled to receive the annual bonus amount to which he may otherwise be entitled under his employment or severance agreement based on the terms and conditions set forth therein and shall not be entitled to any duplicative bonus payment under the Plan. However, the accelerated vesting of any outstanding equity awards held by the Participant under any of the Company’s stock plans, including any outstanding stock options, restricted stock or restricted stock unit awards, or the extension of any exercise periods for such stock options, shall not be deemed to constitute a bonus payment for purposes of this Section 3.03D.

		
	IV.
	BONUS AWARDS

4.01 The following provisions shall govern the calculation and payment of the individual bonus awards that become payable under the Plan.

(a) The individual bonus award payable under the Plan to each
Participant for the 2017 Fiscal Year shall be payable in cash and/or direct issuances of common stock of the Company on the Bonus Payment Date (as defined in Section 5.01), with the bonus amount to be determined on the basis of the performance of the Company and the achievement of the performance criteria or divisional or departmental goals, as applicable, to which the bonus potential for that Participant has been allocated in accordance with Section 3.01.

(b) The performance of the Company shall be measured in terms of (i) the revenue for the Company and (ii) the net income before depreciation, amortization, stock based compensation, interest and taxes, and certain other expenses and subject to certain adjustments, all as specified in Section 4.02 (“Adjusted EBITDA”), for the Company.  Accordingly, fifty percent (50%) of the portion of the bonus potential allocated to the performance of the Company shall be based upon the achievement of the revenue target (“Revenue Targets”) specified for the 

3

Company in the Performance Goals Schedule, and the remaining fifty percent (50%) of the bonus potential allocated to the performance of the Company shall be based upon the achievement of the Adjusted EBITDA target (“Adjusted EBITDA Targets”) specified for the Company in the Performance Goals Schedule, provided that the bonus potential above the “Target” bonus payout levels (i.e., payout level 6) for the individuals set forth on Schedule I attached hereto shall be based upon the achievement of the Revenue Targets.

4.02 The following provisions shall govern the calculation of the levels at which the Revenue Targets and Adjusted EBITDA Targets are attained for the 2017 Fiscal Year and the determination of the bonus amounts based on those calculations:

(a) The actual level at which revenue for the Company has been attained for the 2017 Fiscal Year will be determined on the basis of the revenues to be reported in the Company’s Financial Statements (as defined in Section 4.03) for such fiscal year and will be calculated, for purposes of the Plan, in a manner consistent with the methodology utilized by the Committee in establishing the Company Revenue Targets.

(b) In determining the actual level at which Adjusted EBITDA for the
Company has been attained, Adjusted EBITDA will be determined consistent with the Company’s methodology for calculating Adjusted EBITDA for financial reporting purposes. For financial reporting purposes, Adjusted EBITDA is defined as net income before net interest expense, provision (benefit) for income tax expense, depreciation, amortization, stock-based compensation, litigation or dispute settlement charges or gains (including, without limitation, fees, expenses, damages and settlement costs related to litigation, arbitration, investigations, disputes or similar matters), transaction related costs (including, without limitation, expenses resulting from actual or potential transactions such as business combinations, mergers, acquisitions, and financing transactions, and including compensation expense and expense for advisors and representatives related to such transactions such as investment bankers, consultants, attorneys and accounting firms), restructuring and other exit costs (including, without limitation, severance expenses, facility closure expenses, relocation costs and other restructuring charges) and impairment of goodwill, intangible assets and long-lived assets.  In addition, to the extent the following are not otherwise taken into account in calculating Adjusted EBITDA for financial reporting purposes, Adjusted EBITDA shall be calculated before, and expenses for the purpose of calculating Adjusted EBITDA shall exclude:  (1) any bonus amounts which accrue under this Plan; (2) any adjustments to Adjusted EBITDA attributable to a change in accounting principles that occurs after the start of the 2017 Fiscal Year (such that the actual Adjusted EBITDA is calculated consistently with the Adjusted EBITDA Target as it relates to accounting principles); (3) all items of gain, loss or expense determined to be extraordinary, unusual or non-recurring (it being understood and agreed that Item 10(e) of Regulation S-K under the Securities Act of 1933 shall not constitute a limitation on any such determination); (4) losses, charges or expenses with respect to litigation, investigations or other legal matters; and (5) all items of gain, loss or expense related to the sale or divestiture of a business; provided, however, that in determining the actual level at which the Company Adjusted EBITDA has been attained, the associated amount under clause (1), clause (3) or clause (4) shall be excluded from the calculation of Adjusted EBITDA only to the extent the actual aggregate amount under clause (1), clause (3) or 

4

clause (4) exceeds the aggregate budgeted amount therefor that was included in the Company’s Adjusted EBITDA Targets set forth in the Performance Goals Schedule.

(c) In the event the actual foreign currency exchange rate (determined as set forth below) for the GBP: U.S. Dollar for the 2017 Fiscal Year is lower than 1:1.21 (the “GBP Floor”), the final revenue and/or Adjusted EBITDA calculations for the Company will be adjusted using the GBP Floor. For the purpose of clarity, the GBP Floor will not be used to adjust the final revenues and Adjusted EBITDA calculations in the event the actual foreign currency exchange rates for the GBP: U.S. Dollar for such financial measures for the 2017 Fiscal Year are higher than the GBP Floor. For the purposes of this paragraph, an “actual foreign currency exchange rate” will be determined for each of year-end revenues and Adjusted EBITDA and calculated by (i) translating into U.S. Dollars the year-end revenues and Adjusted EBITDA amounts for the applicable non-U.S. subsidiaries in a manner consistent with the Company’s historical methodology for financial reporting purposes and (ii) dividing each such U.S. Dollars amount by its pre-translation (GBP) year-end revenues or Adjusted EBITDA amount, as applicable.

(d) In the event the Company acquires other companies or businesses during the 2017 Fiscal Year, the financial performance of those acquired entities shall not be taken into account in determining whether the Revenue Targets or Adjusted EBITDA Targets for the Company for the 2017 Fiscal Year have been achieved.

(e) Should the Company sell, divest or spin off a business during the
2017 Fiscal Year and the financial performance of such business was taken into account in
establishing the Revenue Targets and Adjusted EBITDA Targets set forth in the Performance Goals Schedule, then for the purpose of determining whether the Revenue Targets or Adjusted EBITDA Targets for the Company for the 2017 Fiscal Year have been attained, the revenue and Adjusted EBITDA calculations for the Company shall be made (1) by taking into account the actual revenue and Adjusted EBITDA performance of the divested business during the portion of the 2017 Fiscal Year preceding the closing of such sale, divestiture or spin off and (2) for the post-closing portion of the 2017 Fiscal Year, by assuming that the sold, divested or spun business attained the level of revenue and Adjusted EBITDA performance that was projected for that period by the Committee for purposes of establishing the “Target” bonus payout levels (i.e., payout level 6) for the Revenue Targets and Adjusted EBITDA Targets for the Company.

4.03 The Committee shall, within seventy-five (75) days following the close of the 2017 Fiscal Year, determine and certify on the basis of the Company’s financial statements for such fiscal year as publicly reported by the Company in connection with its earnings release related to the 2017 Fiscal Year (the “Financial Statements”), the actual level of attainment for revenue and Adjusted EBITDA for the 2017 Fiscal Year. Such certification shall be included as part of the formal minutes of the meeting at which such determinations are made. On the basis of such certification, the Committee shall determine the actual bonus award for each Participant.  However, the Committee, in making such determination, shall not award a bonus in excess of the dollar amount determined for the Participant on the basis of the bonus potential established for the particular levels at which revenue and Adjusted EBITDA for the 2017 Fiscal Year are in fact 

5

attained unless the Committee determines that it is in the best interests of the Company to do so. In the event that revenue or Adjusted EBITDA falls between two specified levels set forth in the schedule approved by the Committee, the resulting bonus amount shall be interpolated on a straight-line basis between those two points. In no event shall the bonus awarded to any Participant exceed the maximum dollar limitation of Section 4.05.

4.04 Except as otherwise provided in Section 3.02, no Participant shall earn or accrue any right to any portion of a bonus award hereunder until the Bonus Qualification Date.

4.05 In no event shall the actual bonus amount payable under this Plan to any individual Participant for the 2017 Fiscal Year exceed the dollar amount of Two Million dollars ($2,000,000).

		
	V.
	PAYMENT OF BONUS AWARDS

5.01 The actual bonus to which each Participant becomes entitled based on the certified level at which the Revenue and Adjusted EBITDA Targets are actually attained for the 2017 Fiscal Year shall be paid in cash and/or direct issuances of common stock of the Company, subject to the Company’s collection of all applicable federal, state and local income, employment and payroll withholding taxes and the terms of the 2013 ICP. Schedule II attached hereto sets forth the bonus amounts payable to each Participant based on the level at which such Revenue and Adjusted EBITDA Targets are attained. Except as otherwise provided in Section 3.02, the bonus payments shall be made in the 2018 calendar year but not later than March 15, 2018, with the actual payment date to constitute the Bonus Payment Date.

		
	VI.
	GENERAL PROVISIONS

6.01 The Committee may at any time amend, suspend or terminate the Plan, provided such action is effected by written resolution and is subject to stockholder approval to the extent required under Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”). Moreover, the Committee reserves the right to amend this Plan as may be necessary or appropriate to avoid adverse tax consequences under Section 409A of the Code.

6.02 No amounts awarded or accrued under this Plan shall actually be funded, set aside or otherwise segregated prior to payment. The obligation to pay the bonuses awarded hereunder shall at all times be an unfunded and unsecured obligation of the Company. Plan participants shall have the status of general creditors and shall look solely to the general assets of the Company for the payment of their bonus awards.

6.03 No Participant shall have the right to alienate, pledge or encumber his/her interest in this Plan or any bonus payable hereunder, and such interest shall not (to the extent permitted by law) be subject in any way to the claims of the employee's creditors or to attachment, execution or other process of law.

6.04 Neither the action of the Company in establishing the Plan, nor any action taken under the Plan by the Committee, nor any provision of the Plan, shall be construed so as to 

6

grant any person the right to remain in the employ of the Company or its subsidiaries for any period of specific duration. Rather, each employee will be employed “at-will,” which means that either such employee or the Company may terminate the employment relationship at any time for any reason, with or without cause, subject in each case to any applicable benefits that may become payable under any employment agreement between such person and the Company or any of its subsidiaries.

6.05 The Plan shall be administered, operated and construed in compliance with the requirements of the short-term deferral exception to Section 409A of the Code and Treasury Regulations Section 1.409A-1(b)(4). Accordingly, to the extent there is any ambiguity as to whether one or more provisions of the Plan would otherwise contravene the requirements or limitations of Section 409A of the Code applicable to such short-term deferral exception, then those provisions shall be interpreted and applied in a manner that does not result in a violation of the requirements or limitations of Section 409A of the Code and the Treasury Regulations thereunder that apply to such exception.

6.06 This is the full and complete agreement between the Participants and the
Company with respect to their incentive bonus compensation for the 2017 Fiscal Year and the related service period through the Bonus Qualification Date. This Plan does not supersede, but is supplemental to, any provisions of any employment agreement to which any of the Participants in this Plan may be a party.

7

SCHEDULE I

	
				
	Name
	Consolidated
	Divisional
	Departmental

	Tucker, Stephen
	80%
	0%
	20%

	Levin, Scott
	80%
	0%
	20%

	Carl, Patty
	80%
	0%
	20%

	Topper, Jay
	80%
	0%
	20%

	Hughes, Rhys
	40%
	40%
	20%

	Moeller, Tom
	40% 
	40%
	20%

	Quinn, Helen
	40% 
	40%
	20%

	Vratimos, Eric
	40% 
	40%
	20%

	Perrott, Dale 
	40% 
	40%
	20%

8

SCHEDULE II
	
											
	 
	John Walden
	 
	Stephen Tucker/Scott Levin

	 
	Consolidated
	 
	Consolidated

	 
	Revenue
	Adj EBITDA
	 
	Revenue
	Adj EBITDA

	 
	Payout %
	Payout %
	 
	Payout %
	Payout %

	1
	

	25.0
	%
	25.0
	%
	 
	20.0
	%
	20.0
	%

	2
	

	30.0
	%
	30.0
	%
	 
	24.0
	%
	24.0
	%

	3
	

	35.0
	%
	35.0
	%
	 
	28.0
	%
	28.0
	%

	4
	

	40.0
	%
	40.0
	%
	 
	32.0
	%
	32.0
	%

	5
	

	45.0
	%
	45.0
	%
	 
	36.0
	%
	36.0
	%

	6
	

	50.0
	%
	50.0
	%
	 
	40.0
	%
	40.0
	%

	7
	

	50.0
	%
	50.0
	%
	 
	43.2
	%
	40.0
	%

	8
	

	50.0
	%
	50.0
	%
	 
	46.4
	%
	40.0
	%

	9
	

	50.0
	%
	50.0
	%
	 
	49.6
	%
	40.0
	%

	10
	

	50.0
	%
	50.0
	%
	 
	52.8
	%
	40.0
	%

	11
	

	50.0
	%
	50.0
	%
	 
	56.0
	%
	40.0
	%

	 
	 
	 
	 
	 
	 

	
											
	 
	Jay Topper
	 
	Patty Carl

	 
	Consolidated
	 
	Consolidated

	 
	Revenue
	Adj EBITDA
	 
	Revenue
	Adj EBITDA

	 
	Payout %
	Payout %
	 
	Payout %
	Payout %

	1
	

	16.0
	%
	16.0
	%
	 
	10.0
	%
	10.0
	%

	2
	

	19.2
	%
	19.2
	%
	 
	12.0
	%
	12.0
	%

	3
	

	22.4
	%
	22.4
	%
	 
	14.0
	%
	14.0
	%

	4
	

	25.6
	%
	25.6
	%
	 
	16.0
	%
	16.0
	%

	5
	

	28.8
	%
	28.8
	%
	 
	18.0
	%
	18.0
	%

	6
	

	32.0
	%
	32.0
	%
	 
	20.0
	%
	20.0
	%

	7
	

	34.6
	%
	32.0
	%
	 
	21.6
	%
	20.0
	%

	8
	

	37.1
	%
	32.0
	%
	 
	23.2
	%
	20.0
	%

	9
	

	39.7
	%
	32.0
	%
	 
	24.8
	%
	20.0
	%

	10
	

	42.2
	%
	32.0
	%
	 
	26.4
	%
	20.0
	%

	11
	

	44.8
	%
	32.0
	%
	 
	28.0
	%
	20.0
	%

	 
	 
	 
	 
	 
	 

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9

	
										
	 
	Eric Vratimos

	 
	Consolidated
	Division

	 
	Revenue
	Adj EBITDA
	Revenue
	Adj EBITDA

	 
	Payout %
	Payout %
	Payout %
	Payout %

	1
	

	6.0
	%
	6.0
	%
	6.0
	%
	6.0
	%

	2
	

	7.2
	%
	7.2
	%
	7.2
	%
	7.2
	%

	3
	

	8.4
	%
	8.4
	%
	8.4
	%
	8.4
	%

	4
	

	9.6
	%
	9.6
	%
	9.6
	%
	9.6
	%

	5
	

	10.8
	%
	10.8
	%
	10.8
	%
	10.8
	%

	6
	

	12.0
	%
	12.0
	%
	12.0
	%
	12.0
	%

	7
	

	13.0
	%
	12.0
	%
	13.0
	%
	12.0
	%

	8
	

	13.9
	%
	12.0
	%
	13.9
	%
	12.0
	%

	9
	

	14.9
	%
	12.0
	%
	14.9
	%
	12.0
	%

	10
	

	15.8
	%
	12.0
	%
	15.8
	%
	12.0
	%

	11
	

	16.8
	%
	12.0
	%
	16.8
	%
	12.0
	%

	 
	 
	 
	 
	 

	
										
	 
	Tom Moeller / Rhys Hughes

	 
	Consolidated
	Division

	 
	Revenue
	Adj EBITDA
	Revenue
	Adj EBITDA

	 
	Payout %
	Payout %
	Payout %
	Payout %

	1
	

	10.0
	%
	10.0
	%
	10.0
	%
	10.0
	%

	2
	

	12.0
	%
	12.0
	%
	12.0
	%
	12.0
	%

	3
	

	14.0
	%
	14.0
	%
	14.0
	%
	14.0
	%

	4
	

	16.0
	%
	16.0
	%
	16.0
	%
	16.0
	%

	5
	

	18.0
	%
	18.0
	%
	18.0
	%
	18.0
	%

	6
	

	20.0
	%
	20.0
	%
	20.0
	%
	20.0
	%

	7
	

	21.6
	%
	20.0
	%
	21.6
	%
	20.0
	%

	8
	

	23.2
	%
	20.0
	%
	23.2
	%
	20.0
	%

	9
	

	24.8
	%
	20.0
	%
	24.8
	%
	20.0
	%

	10
	

	26.4
	%
	20.0
	%
	26.4
	%
	20.0
	%

	11
	

	28.0
	%
	20.0
	%
	28.0
	%
	20.0
	%

	 
	 
	 
	 
	 

[Continues on Next Page]

10

	
										
	 
	Helen Quinn

	 
	Consolidated
	Division

	 
	Revenue
	Adj EBITDA
	Revenue
	Adj EBITDA

	 
	Payout %
	Payout %
	Payout %
	Payout %

	1
	

	7.0
	%
	7.0
	%
	7.0
	%
	7.0
	%

	2
	

	8.4
	%
	8.4
	%
	8.4
	%
	8.4
	%

	3
	

	9.8
	%
	9.8
	%
	9.8
	%
	9.8
	%

	4
	

	11.2
	%
	11.2
	%
	11.2
	%
	11.2
	%

	5
	

	12.6
	%
	12.6
	%
	12.6
	%
	12.6
	%

	6
	

	14.0
	%
	14.0
	%
	14.0
	%
	14.0
	%

	7
	

	15.1
	%
	14.0
	%
	15.1
	%
	14.0
	%

	8
	

	16.2
	%
	14.0
	%
	16.2
	%
	14.0
	%

	9
	

	17.4
	%
	14.0
	%
	17.4
	%
	14.0
	%

	10
	

	18.5
	%
	14.0
	%
	18.5
	%
	14.0
	%

	11
	

	19.6
	%
	14.0
	%
	19.6
	%
	14.0
	%

	 
	 
	 
	 
	 

	
										
	 
	Dale Perrott

	 
	Consolidated
	Division

	 
	Revenue
	Adj EBITDA
	Revenue
	Adj EBITDA

	 
	Payout %
	Payout %
	Payout %
	Payout %

	1
	

	5.0
	%
	5.0
	%
	5.0
	%
	5.0
	%

	2
	

	6.0
	%
	6.0
	%
	6.0
	%
	6.0
	%

	3
	

	7.0
	%
	7.0
	%
	7.0
	%
	7.0
	%

	4
	

	8.0
	%
	8.0
	%
	8.0
	%
	8.0
	%

	5
	

	9.0
	%
	9.0
	%
	9.0
	%
	9.0
	%

	6
	

	10.0
	%
	10.0
	%
	10.0
	%
	10.0
	%

	7
	

	10.8
	%
	10.0
	%
	10.8
	%
	10.0
	%

	8
	

	11.6
	%
	10.0
	%
	11.6
	%
	10.0
	%

	9
	

	12.4
	%
	10.0
	%
	12.4
	%
	10.0
	%

	10
	

	13.2
	%
	10.0
	%
	13.2
	%
	10.0
	%

	11
	

	14.0
	%
	10.0
	%
	14.0
	%
	10.0
	%

	 
	 
	 
	 
	 

11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00270-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00270-of-00352.parquet"}]]