Document:

exv10w1

 

Exhibit 10.1

LaCrosse Footwear, Inc.

2008 Annual Incentive Compensation Plan Document

Objective/Overview

The LaCrosse Footwear Inc. Incentive Compensation Plan is designed to reward
performance based on the achievement of desired annual corporate results. The
LaCrosse Incentive Compensation Plan seeks to drive positive performance by
targeting our greatest opportunity to increase shareholder value, which we’ve
identified as profitable sales growth while maintaining a healthy balance sheet.
The financial metrics for 2008 are sales growth, profitability and inventory
turns.

LaCrosse funds the Incentive Compensation Plan solely from Company profits. The
Company must achieve at least 75% of planned/budgeted 2008 operating profit
dollars in order for any Incentive Compensation payout, regardless of the
achievement of any other performance metric. Our Board of Directors approves the
budgeted net sales and operating profit annually.

The guidelines for the 2008 Incentive Compensation Plan are as follows:

Plan Year and Eligibility Requirements

The incentive compensation measurement plan year runs from January 1st
through December 31st. All non-union LFI employees are eligible for
the Incentive Compensation Plan unless the individual is on a Sales Commission
Plan. No employee can be on more than one incentive compensation plan.
Employees hired during the Plan year are eligible effective with their date of
hire.

The employee must be actively employed by the Company on the payment date in
order to receive any incentive compensation. Incentive compensation is not
earned until paid. Payment date is anticipated to be by the end of the first
quarter of the following year, but is at the discretion of the Company.

An employee must have a minimum individual performance rating of “3” to be
eligible to receive any incentive compensation payout. An employee whose last
overall performance rating is “1” or a “2” or is on written warning, will
not be eligible to receive incentive compensation until such time as the
associated corrective action plan has been successfully completed.

Incentive Payout Calculation

The actual incentive compensation payout, if any, is based on pro-rated annual
base pay.

An individual’s incentive target compensation is set as a percentage of annual
base pay. The incentive target compensation level for each employee is
commensurate with his or her duties and responsibilities within the organization.
The target levels are reviewed annually and employees are notified of any
changes. Changes in target incentive compensation percentage are pro-rated for
the months each rate is in effect.

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Communication

To assure the success of our Incentive Compensation Plan, we will inform each
participant of their target compensation percentage and the specific corporate
performance targets. In addition, we will provide an update of the Company’s
operating results and incentive compensation targets on a quarterly basis.

Company’s Discretion

The Company has full authority to modify, change, amend or terminate this plan at
its complete discretion.

FINANCIAL COMPONENT

The financial component or metric will be computed at the corporate level as
follows:

	 	 	 	 	 
	 	40	%	 	net sales growth OR 

manufacturing variances (for Portland manufacturing department only)

	 
	 	40	%	 	operating profit

	 
	 	20	%	 	inventory turns

40% — NET SALES GROWTH

Incentive payouts will be computed according to budgeted Net Sales.

	 	 	 
	Results versus Goal	 	Incentive Compensation Amount
	< 94% of budget net sales dollars

	 	No incentive compensation payout
	 
	Equal to or > 94% of budget net sales dollars

	 	I.C. based on an incremental scale. There is no cap.

	 	 	 
	Exception:
	 	Portland Manufacturing has incentive compensation based on targeted
manufacturing variances in-lieu of the net sales growth factor. There is a
payout cap of 120% of variance target.

40% — OPERATING PROFIT

Incentive payouts will be computed according to Corporate Operating Profit.

	 	 	 
	Results versus Goal	 	Incentive Compensation Amount
	< 75% of budget dollar amount

	 	No incentive compensation payout
	 
	Equal to or >75% of budgeted Op. Profit $

	 	I.C. based on an incremental scale. There is no cap.

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20% — INVENTORY TURNS

Inventory turns will be based on the number of inventory turns computed for the
full fiscal year and will be equal to standard COGS (no variances) for the year
divided by average inventory. Average inventory will equal the sum of each month
ending inventory divided by 12.

	 	 	 
	< 93% of planned inventory turns

	 	No incentive compensation awarded.
	 
	Equal to or > 93% of planned Inv. Turns

	 	I.C. based on an incremental scale. There is no cap.

Extraordinary Items and Board of Director Approval:

Extraordinary items will be evaluated by the Compensation Committee of the
LaCrosse Board of Directors on a case-by-case basis as to the impact on
incentive compensation. The definition of extraordinary items are
items/events which are non-recurring and are not reflective of the on-going
operation of the business as well as considered beyond management control.

LFI’s Board of Directors and Management reserves the right to change, alter,
terminate, or modify this incentive compensation program as the business
environment changes, or is deemed necessary. All payments are subject to
Compensation Committee approval, after year-end financial statements have been
audited.

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End of Filing

8Exhibit 10.1

                     AMENDMENT NO. 6 TO TERMS OF EMPLOYMENT
                                       Of
                                URS W. STAMPFLI
                                      With
                              CONCORD CAMERA CORP.

      This  AMENDMENT NO. 6 TO TERMS OF  EMPLOYMENT,  effective as of January 1,
2008 (this  "Instrument"),  by and between  CONCORD CAMERA CORP. (the "Company")
and Urs W. Stampfli ("Employee").

                                    RECITALS

      A. The Employee is currently employed by the Company pursuant to the Terms
of Employment,  dated as of January 1, 2000, as thereafter  amended (as amended,
the "Agreement"), between the Company and the Employee.

      B. The parties desire to modify the Agreement as set forth herein.

      NOW,  THEREFORE,  for good and  valuable  consideration,  the  receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

      1.  Definitions.  Capitalized  terms used but not defined  herein have the
meanings assigned to them in the Agreement.

      2. Term.  The  expiration  of the Term of the  Agreement,  as specified in
Section 3 thereof,  is hereby  extended  for a period of twelve (12) months from
"January 1, 2008" to "January 1, 2009."

      3.  Termination.  The second  paragraph of Section 12 of the  Agreement is
hereby deleted and replaced in its entirety with the following:

      "Concord  may  terminate  the  employee's  employment  at any time for any
      reason or without  reason by giving the employee 30 days' written  notice.
      The employee may  terminate his  employment  after the end of any calendar
      month during the Term for any reason or without  reason by giving  Concord
      30 days' written notice. In the event Concord elects to terminate pursuant
      to this provision,  it may at its option request the employee to remain in
      its employment  during the 30 day period  following  delivery of notice of
      termination,  provided  that the  Company  shall  continue  to provide the
      employee  with his normal  and  customary  compensation  and  benefits  as
      prescribed in Sections 5, 8 and 11. Alternatively, Concord may require the
      employee to cease working at any time during the 30-day notice period. If:
      (i) Concord terminates the employee's employment without cause (as defined
      above in this  Section)  whether  during the Term or at any time after the
      end of the Term;  or (ii) the  employee  terminates  his  employment  with
      Concord after the end of the Term (but not before), then the employee will
      be  paid  for a  total  of one (1)  year  (post-employment

<PAGE>

      compensation), excluding any portion of the 30-day notice period for which
      the employee remained in the Company's  employment,  at the then effective
      compensation  provided for in Section 5. The post-employment  compensation
      related  to the  employee's  salary  and  auto  allowance  will be paid in
      installments  (net  of  required   withholding)  in  accordance  with  the
      Company's normal payroll schedule for executives. The Company's obligation
      to pay any  such  post-employment  compensation  is  conditioned  upon the
      employee's  prior and  continued  compliance  with the  provisions of this
      Agreement including, but not limited to, Section 13 and Exhibit A."

      4. Effect on  Agreement.  Except as hereby  amended,  all of the terms and
conditions  set forth in the  Agreement  are and shall  remain in full force and
effect.

      IN WITNESS  WHEREOF,  the parties  executed this Instrument as of the date
first set forth above.

EMPLOYEE:                               CONCORD CAMERA CORP.

  /s/ Urs W. Stampfli                  By: /s/ Ira B. Lampert
---------------------                      ------------------------------
Name: Urs W. Stampfli                      Name: Ira B. Lampert
                                           Title: Chief Executive Officer

Dated:  December 26, 2007               Dated:  December 26, 2007rightsagreement.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

	

AMENDMENT NO. 4 TO RIGHTS AGREEMENT

     This AMENDMENT NO. 4 TO RIGHTS AGREEMENT, is made as of December 20, 2007 (“Amendment No. 4”) between RESPIRONICS, INC., a Delaware corporation (the “Company”) and MELLON INVESTOR SERVICES LLC (formerly known as CHASEMELLON SHAREHOLDER SERVICES, L.L.C.), a New Jersey limited liability company (the “Rights Agent”). Capitalized terms not defined herein shall have the meanings ascribed to them in the Rights Agreement.

     WHEREAS, the Company and the Rights Agent are party to that certain Rights Agreement, dated as of June 28, 1996, as amended by that certain Amendment No. 1 to the Rights Agreement dated as of July 30, 1999, Amendment No. 2 to the Rights Agreement dated as of May 5, 2005 and Amendment No. 3 to the Rights Agreement dated as of June 7, 2006 (as amended, the “Rights Agreement”), pursuant to which the Company issued one Right for each share of Company Common Stock issued between the Record Date and the Distribution Date, each Right initially representing the right to purchase one one-hundredth of a share of Company Common Stock. 

     WHEREAS, Section 26 of the Rights Agreement provides that the Company may, and the Rights Agent shall, if the Company so directs, supplement or amend any provision of the Rights Agreement without the approval of any holders of shares of Company Common Stock;

     WHEREAS, the Board of Directors of the Company has approved the execution, delivery and performance by the Company of, and the consummation of the transactions contemplated by, that certain Agreement and Plan of Merger (as it may be amended or supplemented from time to time, the “Agreement”), by and among the Company, Philips Holding USA Inc., a Delaware corporation (“Parent”) and Moonlight Merger Sub, Inc., a Delaware corporation and a wholly owned Subsidiary of Parent (“Merger Sub”).

     WHEREAS, in contemplation of the consummation of the Offer (as defined in the Agreement), the Merger (as defined in the Agreement) and the other transactions contemplated by the Agreement, the Board of Directors of the Company has determined that it is advisable and in the best interest of the Company and its shareholders, and the Company therefore desires, to amend the Rights Agreement to render the Rights Agreement inapplicable to the Agreement, the Offer, the Merger, or any other transactions contemplated by the Agreement.

     NOW, THEREFORE, in consideration of the premises and mutual agreements set forth herein and in the Agreement, the parties hereby agree as follows:

     1. Amendment of Section 1. Section 1 of the Rights Agreement is hereby amended and supplemented to add the following definitions in the appropriate alphabetical locations:

     “Merger” shall mean the “Merger” as such term is defined in the Merger Agreement.

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“Merger Agreement” shall mean the Agreement and Plan of Merger, dated as of December 20, 2007, by and among the Company, Parent and Merger Sub, as it may be amended or supplemented from time to time.

“Merger Sub” shall mean Moonlight Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent.

“Offer” shall mean the “Offer” as such term is defined in the Merger Agreement.

“Parent” shall mean Philips Holding USA Inc., a Delaware corporation.

   2. Amendment to Definition of “Acquiring Person”. The definition of “Acquiring Person“ in SECTION 1 of the Rights Agreement is hereby amended and supplemented by adding the following sentence at the end thereof: 

Notwithstanding anything in this definition of “Acquiring Person” or in this Agreement to the contrary, none of Parent, Merger Sub, nor any of their respective Affiliates or Associates is, nor shall any of them be deemed to be, an “Acquiring Person” as a result of the approval, execution, delivery or performance of the Merger Agreement or the announcement or consummation of the transactions contemplated thereby, it being the purpose of the Company that neither the execution of the Merger Agreement by any of the parties thereto (after giving effect to any amendment to the Merger Agreement) nor the consummation of the transactions contemplated thereby shall in any respect give rise to any provision of this Agreement becoming effective.

   3. Amendment to Definition of “Distribution Date”. The definition of “Distribution Date” in SECTION 3(a) of the Rights Agreement is hereby amended and supplemented to add the following after the words “‘Distribution Date’” in the parenthetical in the first sentence of such section: 

; provided that notwithstanding anything in this Agreement to the contrary, a Distribution Date shall not occur or be deemed to have occurred as a result of the approval, execution, delivery or performance of the Merger Agreement or the announcement or consummation of the transactions contemplated thereby. 

   4. Amendment to Section 7(a). Section 7(a) of the Rights Agreement is amended by deleting “(i) the Close of Business on the tenth anniversary hereof (the “Final Expiration Date”)” and replacing it with the following: 

(i) the earlier of (x) the Close of Business on the tenth anniversary hereof and (y) immediately prior to the Effective Time (as defined in the Merger Agreement) (such earlier date, the “Final Expiration Date”)

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   5. Amendment to Definition of “Stock Acquisition Date.” The definition of “Stock Acquisition Date” in the Rights Agreement is hereby amended and supplemented to add the following sentence after the last sentence thereof: 

The foregoing or any provision to the contrary in this Agreement notwithstanding, a Stock Acquisition Date shall not occur or be deemed to have occurred as a result of the approval, execution, delivery or performance of the Merger Agreement or the announcement or consummation of the transactions contemplated thereby.

   6. Amendment of Section 3. Section 3 of the Rights Agreement is hereby amended and supplemented to add the following sentence at the end thereof as Section 3(d):

Nothing in this Agreement shall be construed to give any holder of Rights or any other Person any legal or equitable rights, remedies or claims under this Agreement as a result of the approval, execution, delivery or performance of the Merger Agreement or the announcement or consummation of the transactions contemplated thereby.

   7. Amendment of Section 11(a)(ii). Section 11(a)(ii) of the Rights Agreement is amended by adding the following sentence to the end of that section:

Notwithstanding anything to the contrary in this Agreement, no event requiring an adjustment under this Section 11(a)(ii) shall be deemed to have occurred as a result of the approval, execution, delivery or performance of the Merger Agreement or the announcement or consummation of the transactions contemplated thereby.

8. Amendment to Section 13. Section 13 of the Rights Agreement is hereby amended and supplemented by adding the following sentence at the end thereof as a new Section 13(i): 

Notwithstanding anything to the contrary in this Agreement, the provisions of Section 13 of this Agreement shall be deemed not to apply to the Merger.

   9. Governing Law. Section 31 (Governing Law) of the Rights Agreement shall apply to this Amendment mutates mutandis.

   10. Counterparts. This Amendment may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each party and delivered to the other parties.

   11. Descriptive Headings. Descriptive headings of the several Sections of this Amendment are inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof.

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   12. Effectiveness. This Amendment is effective as of immediately prior to the execution and delivery of the Merger Agreement by each of the parties thereto; provided, however, that if the Merger Agreement is terminated for any reason, this Amendment shall no longer be applicable or of any further force and effect and the Rights Agreement shall remain the same as it existed immediately prior to execution of this Amendment. Except as specifically amended by this Amendment, all other terms and conditions of the Rights Agreement shall remain in full force and effect and are hereby ratified and confirmed. The Company shall promptly notify the Rights Agent of the Effective Time (as defined in the Agreement).

   13. Compliance with Agreement. The Rights Agent shall not be subject to, nor be required to comply with, nor determine if any Person has complied with, the Agreement, even though the reference thereto may be made in this Amendment No. 4 and the Rights Agreement.

[Signature Page Follows]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and attested, all as of the day and year first above written.

		 	RESPIRONICS, INC. 
	 	 	 
		 	By:  /s/ Daniel J. Bevevino
		 	Name: Daniel J. Bevevino
		 	Title:    V.P. and CFO
		 	 
		 	MELLON INVESTOR SERVICES LLC 
	 	 	 
		 	By:   /s/ Mitzi Brinkman
	 	 	Name: Mitzi Brinkman
		 	Title:    Relationship Manager

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