Document:

Wdesk | Exhibit

EXHIBIT 10.3
	
		
	
	 

PERSONAL AND CONFIDENTIAL

March 3, 2017

Mr. Mark McCollum
[Personal Address Intentionally Omitted]

Dear Mark,

On behalf of the Board of Directors, it is my pleasure to offer you the position of President, Chief Executive Officer and Director of Weatherford International plc, serving on, and reporting to, the Board of Directors.  

In connection with your appointment, the Board of Directors approved the following compensation arrangements: 

(1)    an annual base salary of $1.0 million;
 
(2)    eligibility to participate in the Company’s Executive Non-Equity Incentive Compensation Plan (the “EICP”), as described in the Company’s annual proxy statement filed with the Securities and Exchange Commission on April 26, 2016, with threshold, target and superior goals (expressed as a percentage of base salary) set at 60%, 120% and 180%, and non-discretionary metrics.  The performance metrics and payout schedule is detailed in Appendix A, attached. There is a Comparative Performance Matrix multiplier (of 1.333) applicable for 2017, which provides for the potential maximum bonus up to 240% of base salary.

(3)    a 2017 long term equity incentive award of $6 million, consisting of 50% restricted share units and 50% performance share units with share price increase metrics pursuant to the 2017 plan detailed on Appendix A, attached, vesting in equal installments over a three year period using the closing stock price the day immediately prior to grant; 

(4)    a one-time inducement award of restricted share units equal to $3 million, vesting 25% (first anniversary), 25% (second anniversary), and 50% (third anniversary) using the closing stock price the day immediately prior to grant, provided such restricted share units will vest immediately if you are terminated without Cause (as defined in the CIC Agreement), or by you for Good Reason (as defined in the CIC Agreement) prior to vesting; and

(5)     a Change in Control Agreement (the “CIC Agreement”), with 3x multiple, in the form attached.  

Equity awards will be made on your start date.  In addition to the foregoing, your offer also includes the following items:
		
	•
	Participation in the Company’s medical, dental, vision, life and disability plans.

		
	•
	Vacation benefits will accrue at the rate of 6 weeks of vacation per year.

		
	•
	Transportation allowance in the amount of $900 per month.

In the event your employment relationship with the Company is terminated by the Company without Cause (as defined in the CIC Agreement), or by you for Good Reason (as defined in the CIC Agreement) at any time prior to the third anniversary of your start date, you shall receive:

(A)    a lump sum cash amount equal to two times your base salary as of the date of your termination of employment; and

(B)    the vesting of your inducement award as described in clause (4) above.

This offer of employment and your subsequent employment with Weatherford is contingent upon the successful completion of a pre-employment drug test. Upon your acceptance of this offer, you will be contacted to schedule a convenient time and location for your pre-employment drug test.

You may confirm your acceptance of this offer by signing a copy of this offer letter and returning it to me at wmacaulay@firstreserve.com. 

If you have any questions regarding these items, please contact me at your earliest convenience. 

Weatherford is committed to pursuing the highest standards of excellence in everything we do, particularly in all our business processes.  It is the policy of the company to (1) comply with all applicable laws and regulations in the areas within which we operate or exceed compliance where our stated expectations require; (2) conduct all operations in a manner that promotes safe work practices and minimizes risk to our employees, our communities and environment; and (3) implement the programs, training, and internal controls necessary to achieve these goals.  

We are excited about having you join us and look forward to working together to make Weatherford a leader in the oilfield service marketplace. 

	
					
	Sincerely,
	 
	 
	Accepted:
	 

	 
	 
	 
	By :_/s/ Mark McCollum

	/s/ William M. Macaulay
	 
	Mark McCollum     
	 

	William M. Macaulay,
	 
	 
	 

	on behalf of the Board of Directors of Weatherford International plc
	 

	 
	 
	 
	Date: March 6, 2017Exhibit 10.1

 

FOURTH AMENDMENT

 

This FOURTH AMENDMENT (this “Agreement”),
dated as of April 26, 2017, is entered into among APOLLO Medical Holdings, Inc.,
a Delaware corporation (“Company”), and NNA of Nevada, Inc.,
a Nevada corporation (“NNA”).

 

RECITALS

 

A.       Reference
is made to the Registration Rights Agreement, dated as of March 28, 2014, between Company and NNA (as amended by the First Amendment
and Acknowledgement, dated as of February 6, 2015, the Amendment To First Amendment and Acknowledgement, dated as of July 7, 2015,
the Second Amendment and Conversion Agreement, dated as of November 17, 2015, the Third Amendment, dated as of June 28, 2016, and
as further amended by the amendments thereto, the “Registration Rights Agreement”).

 

B.        Capitalized
terms not otherwise defined herein shall have the meanings given to such terms in the Registration Rights Agreement.

 

STATEMENT OF AGREEMENT

 

NOW, THEREFORE, in consideration
of the mutual provisions, covenants and agreements herein contained, the parties hereto hereby agree as follows:

 

ARTICLE
I

AMENDMENTS

 

1.1       The
definition of “Effectiveness Target” set forth in Section 1 of the Registration Rights Agreement is hereby amended
to read in full as follows:

 

“Effectiveness
Target” means, with respect to the Initial Registration Statement or the New Registration Statement, the earlier of (i)
June 30, 2018 and (ii) the 5th Trading Day after the date the Company is notified (orally or in writing, whichever
is earlier) by the Commission that such Registration Statement will not be “reviewed” or will not be subject to further
review; provided, that if the Effectiveness Target falls on a Saturday, Sunday or other day that the Commission is closed
for business, the Effectiveness Target shall be extended to the next Business Day on which the Commission is open for business.

 

1.2       The
definition of “Filing Deadline” set forth in Section 1 of the Registration Rights Agreement is hereby amended to read
in full as follows:

 

“Filing
Deadline” means, with respect to the Initial Registration Statement required to be filed pursuant to Section 2(a),
December 31, 2017.

 

     

     

    

 

ARTICLE
II

EFFECTIVENESS

 

This Agreement, including without limitation
the amendments set forth in Article I, shall become effective as of the date first written above (such date being referred
to as the “Effective Date”) when NNA and the Company shall have executed and delivered to each other counterparts
of this Agreement.

 

ARTICLE
III

REPRESENTATIONS
AND WARRANTIES

 

To induce NNA to enter into this Agreement
and the transactions contemplated hereby, Company represents and warrants to NNA as of the Effective Date as follows:

 

3.1       Corporate
Organization and Power. Company (i) is a corporation duly organized, validly existing and in good standing under the Laws
of the State of Delaware and (ii) is duly qualified to do business as a foreign corporation and is in good standing in each
jurisdiction where the nature of its business or the ownership of its properties requires it to be so qualified, except where the
failure to be so qualified, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

 

3.2       Authorization.
Company has the requisite corporate power and authority to enter into this Agreement and to consummate the transactions contemplated
hereby. The execution and delivery by Company of this Agreement, the compliance by Company with each of the provisions of this
Agreement and the other Transaction Documents, and the consummation by Company of the transactions contemplated hereby and thereby
(a) are within the corporate power and authority of Company (including such approval and authorization by Company Board required
under the Laws of the State of Delaware and Company’s certificate of incorporation and bylaws) and (b) have been duly authorized
by all necessary corporate action of Company. This Agreement has been duly and validly executed and delivered by Company. Assuming
due authorization, execution and delivery by NNA of this Agreement, this Agreement constitutes a valid and binding agreement of
Company enforceable against it in accordance with its terms, except (i) as such enforcement is limited by bankruptcy, insolvency
and other similar Laws affecting the enforcement of creditors’ rights generally and (ii) for limitations imposed by general
principles of equity.

 

3.3       No
Conflicts; Consents and Approvals; No Violation. Neither the execution, delivery or performance by Company of this Agreement
nor the consummation by Company of the transactions contemplated hereby or thereby shall (a) result in a breach or a violation
of, any provision of its certificate of incorporation or bylaws; (b) constitute, with or without notice or the passage of
time or both, a breach, violation or default, create a Lien, or give rise to any right of termination, modification, cancellation,
prepayment, suspension, limitation, revocation or acceleration, under (i) any Law or (ii) any provision of any agreement or other
instrument to which it is a party or pursuant to which any of it or any of its assets or properties is subject; or (c) require
any consent, Order, approval or authorization of, notification or submission to, filing with, license or permit from, or exemption
or waiver by, any Governmental Authority or any other Person (collectively, the “Consents, Approvals and Filings”)
on its part, except for (x) the Consents, Approvals and Filings required under the Securities Act, the Exchange Act and applicable
state securities Laws and the Principal Trading Market, and (y) consents, authorizations and filings that have been (or on or prior
to the Effective Date will have been) made or obtained and that are (or on the Effective Date will be) in full force and effect.

 

     

     

    

 

3.4       Capitalization.
Company has registered its Common Stock pursuant to Section 12(b) of the Exchange Act. The Common Stock is currently quoted on
the OTC Pink Marketplace (the “OTC Pink”) maintained by the OTC Markets Group Inc. under the symbol “AMEH.”
Company has not received any oral or written notice that its Common Stock is not eligible or will become ineligible for quotation
on the OTC Pink nor that its Common Stock does not meet all the requirements for the continuation of such quotation.

 

3.5       Investment
Company Act. Company is not an “investment company” within the meaning of the Investment Company Act of 1940, as
amended.

 

ARTICLE
IV

MISCELLANEOUS

 

4.1       Governing
Law. This Agreement shall be governed by, and construed in accordance with, the law of the State of New York (including Sections
5-1401 and 5-1402 of the New York General Obligations Law, but excluding all other choice of law and conflicts of law rules).

 

4.2       Full
Force and Effect. Except as expressly provided herein, the Registration Rights Agreement and the other Transaction Documents
shall continue in full force and effect in accordance with the provisions thereof on the date hereof. As used in the Registration
Rights Agreement or any other Transaction Document, “hereinafter,” “hereto,” “hereof,” and
words of similar import shall, unless the context otherwise requires, mean the Registration Rights Agreement or such other applicable
Transaction Document after giving effect to this Agreement. Any reference to the Registration Rights Agreement or any of the other
Transaction Documents shall refer to the Registration Rights Agreement and the applicable Transaction Documents as amended hereby.

 

4.3       Severability.
To the extent any provision of this Agreement is prohibited by or invalid under the applicable law of any jurisdiction, such provision
shall be ineffective only to the extent of such prohibition or invalidity and only in any such jurisdiction, without prohibiting
or invalidating such provision in any other jurisdiction or the remaining provisions of this Agreement in any jurisdiction.

 

4.4       Successors
and Assigns. This Agreement shall be binding upon, inure to the benefit of and be enforceable by the respective successors
and permitted assigns of the parties hereto.

 

4.5       Construction.
The headings of the various sections and subsections of this Agreement have been inserted for convenience only and shall not in
any way affect the meaning or construction of any of the provisions hereof.

 

     

     

    

 

4.6       Counterparts.
This Agreement may be executed in any number of counterparts and by different parties hereto on separate counterparts, each of
which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.
Delivery of an executed counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a manually
executed counterpart of this Agreement.

 

[remainder of page intentionally left blank]

 

 

 

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto
have caused this Agreement to be duly executed and delivered by their respective duly authorized officers as of the date first
above written.

 

	 	COMPANY:	 
	 	 	 
	 	APOLLO MEDICAL HOLDINGS,
        INC.	 
	 	 	 
	 	 	 
	 	By: 	/s/ Warren Hosseinion	 
	 	Name:
Title:	Warren Hosseinion
Chief Executive Officer	 
	 	 	 	 
	 	 	 	 
	 	NNA:	 
	 	 	 	 
	 	NNA OF NEVADA, INC.	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Bryan Mello	 
	 	Name:
Title:	Bryan Mello
Assistant Treasurer

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