Document:

EX-10.1

 Exhibit 10.1 

DIRECTOR SERVICE AGREEMENT 

THIS DIRECTOR SERVICE AGREEMENT (this “Agreement”) is made this 22, day of January 2016, by and among National
CineMedia, Inc. (“NCM Inc.” or the “Company”) and National CineMedia, LLC (“NCM LLC”) and Scott Schneider (the “Director”). 

WHEREAS, each of the Company and NCM LLC desires to retain the services of the Director as the Non-Employee Executive Chairman of Board
of Directors of the Company for the benefit of the Company, NCM LLC and their respective equityholders; and 
 WHEREAS, the Director
desires to serve as the Non-Employee Executive Chairman of the Board of Directors of the Company; 
 NOW, THEREFORE, in consideration
of the foregoing recitations, the mutual promises hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are acknowledged hereby, the parties hereto, intending legally to be bound, hereby covenant and
agree as follows: 
 SECTION 1. DUTIES. During the Chairmanship Term (as hereinafter defined), the Director will fulfill his
fiduciary duties, make commercially reasonable efforts to attend all prescheduled Board meetings, serve on appropriate committees as reasonably requested and agreed upon by the Board, make himself available to the Company or NCM LLC at mutually
convenient times and places and perform such duties, services and responsibilities, and have the authority commensurate to his position as Non-Employee Executive Chairman of the Board, including serving as a liaison between the Board, on the one
hand, and the Chief Executive Officer and management, on the other hand. For the avoidance of doubt, the Director will not serve in a policy-making function. 

SECTION 2. TERM. The “Chairmanship Term,” as used in this Agreement, shall mean the period of time commencing on
January 4, 2016 and terminating on the earliest of (i) December 31, 2016, (ii) the death of the Director or (iii) the removal of the Director from the Board. 

SECTION 3. COMPENSATION. 
  

	 	a.	 Fees. In consideration for the services (described in Section 1 hereto) to be provided by Director during the Chairmanship Term,
the Company shall pay to the Director an amount equal to $675,000 (“Chairman Fee”); provided, however, that if, prior to the expiration of the Chairmanship Term, the Director voluntarily resigns from his position as Non-Employee
Executive Chairman of the Board of the Directors of the Company, the aggregate amount payable by the Company to the Director pursuant to this Section 3(a) shall be only that portion of the Chairman Fee earned as of the Director’s

	 	
resignation date. A portion of the Director Fee ($405,000) will be paid in a single cash payment, promptly, but in any event not later than the Company pays Board/Committee cash retainers for
2016 to certain other Board members. The Company anticipates that the payment will occur on or before January 31, 2016. The remainder of the Chairman Fee will be comprised of that number of shares of NCM time-based restricted stock (to vest 12
months after the grant date) equal to (a) $270,000 divided by (b) the closing price of one share of NCM common stock on January 20, 2016; provided, however, that no fractional shares shall be issued. 

 

	 	b.	Expense Reimbursement. During the Chairmanship Term, the Company shall reimburse Director for all reasonable business expenses actually paid or incurred by Director in the course of, pursuant to and
in furtherance of providing the services hereunder, and such reimbursement of expenses shall be made no later than thirty (30) days following such submission of supporting documentation. 

SECTION 4. TERMINATION. Notwithstanding anything to the contrary contained in this Agreement, this Agreement shall terminate on
the earlier of the following to occur: 
 (i) the expiration of the Chairmanship Term; or 

(ii) upon the payment by the Company of all amounts due to the Director (including the earned portion of the Chairman Fee) in the event of the
Director’s voluntary resignation from his position as Non-Employee Executive Chairman of the Board of the Directors of the Company. 

SECTION 5. MISCELLANEOUS. 
  

	 	a.	Entire Agreement; Amendment. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersede all prior agreements, understandings,
negotiations and discussions, both written and oral, among the parties hereto. This Agreement may not be amended or modified in any way except by a written instrument executed by each of the parties hereto. 

	 	b.	Notice. All notices under this Agreement shall be in writing and shall be given by personal delivery, or by registered or certified United States mail, postage prepaid, return receipt requested, to the
address set forth below 

  

					
	If to the Director:	 		  	Scott Schneider
		 		  	1 Parley Lane
		 		  	Ridgefield, CT 06877
			
	If to the Company:	 		  	National CineMedia, Inc.
		 		  	9110 East Nichols Avenue, Suite 200
		 		  	Centennial, CO 80112
		 		  	Attention: Ralph E. Hardy, General Counsel
			
	If to the NCM LLC:	 		  	National CineMedia, LLC
		 		  	9110 East Nichols Avenue, Suite 200
		 		  	Centennial, CO 80112
		 		  	Attention: Ralph E. Hardy, General Counsel

 or to such other person or persons or to such other address or addresses as Director and the Board or the
Company or their respective successors or assigns may hereafter furnish to the other by notice similarly given. Notices, if personally delivered, shall be deemed to have been received on the date of delivery, and if given by registered or certified
mail, shall be deemed to have been received on the fifth business day after mailing. 
  

	 	c.	Governing Law. The rights and obligations of the Parties hereunder shall be construed and enforced in accordance with, and shall be governed by, the laws of the State of Colorado, without regard to
principles of conflict of laws. 

  

	 	d.	Assignment: Successors and Assigns. No Party hereto may make any direct or indirect assignment or subcontracting of this Agreement or any interest herein, by operation of laws or otherwise, without the
prior written consent of the other Parties hereto. This Agreement shall inure to the benefit of and be binding upon the Parties hereto and their respective heirs, personal representatives, executors, legal representatives, successors and permitted
assigns. 

  

	 	e.	Severability. The invalidity of any one or more of the words, phrases, sentences, clauses, sections or subsections contained in this Agreement shall not affect the enforceability of the remaining portions
of this Agreement or any part thereof, all of which are inserted conditionally on their being valid in law, and, in the event that any one or more of the words, phrases, sentences, clauses, sections or subsections contained in this Agreement shall
be declared invalid by a court of competent jurisdiction, then this Agreement shall be construed as if such invalid word or words, phrase or phrases, sentence or sentences, clause or clauses, section or sections, or subsection or subsections had not
been inserted. 

  

	 	f.	Section Headings. The section or other headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of any or all of the provisions of
this Agreement. 

	 	g.	Counterparts; Facsimile. This Agreement may be executed in multiple counterparts, any one of which need not contain the signatures of more than one party, but all such counterparts taken together shall
constitute one and the same instrument. Any signature page delivered by facsimile or PDF signature shall be binding to the same extent as an original signature page with regard to any agreement subject to the terms hereof or any amendment thereto.

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written. 

 

					
	Dated:1/22/2016	 	 /s/ Scott Schneider

		 	Scott Schneider (Director)
		
		 	National CineMedia, Inc.
		
	Dated:1/22/2016	 	 /s/ Ralph E. Hardy

		 	By:	 	Ralph E. Hardy
		 		 	 Executive Vice President and
 General
Counsel

		
		 	National CineMedia, LLC
			
		 	By:	 	National CineMedia, Inc.,
		 		 	Its Manager
		
	Dated:1/22/2016	 	 /s/ Ralph E. Hardy

		 	By:	 	Ralph E. Hardy
		 		 	 Executive Vice President and
 General
CounselExhibit 10.1

AIRGAS, INC.

EXECUTIVE BONUS PLAN

Purpose of the Plan

Airgas, Inc. (the "Company") believes in providing incentives to attract, retain and reward Executive Officers who are responsible for providing leadership to the Company in attaining established business objectives.

The purpose of the Airgas, Inc. Executive Bonus Plan (the "Plan") is to align management's efforts with the strategic goals of the Company through competitive annual incentive opportunities. The Plan's performance period originally in effect for the period April 1, 2015 to March 31, 2016 will instead cover the period April 1, 2015 through December 31, 2015 (the "Short Plan Year").  The Plan will thereafter be effective on a calendar year basis, beginning with the period from January 1, 2016 through December 31, 2016 (the "Plan Year") and will automatically renew on each January 1 unless earlier terminated by the Governance and Compensation Committee of the Board of Airgas, Inc., or such other committee of the Board as may be responsible for executive compensation issues (the "Committee").  All references herein to Plan Year shall include the Short Plan Year unless otherwise specified.

Eligibility

The Executive Officers of the Company ("Participants") are eligible for payments of Awards under the Plan provided that such Participants are employed by the Company on the last day of  the Plan Year (unless previously terminated due to retirement, disability or death as more fully described herein). For purposes of the Plan, Executive Officers of the Company are defined as those employees who constitute "officers" of the Company for the purposes of Section 16 of the Securities Exchange Act of 1934, and any other employee of the Company deemed to be a "covered employee" within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended, as such section may be amended.

Target Awards

Participants in the Plan in respect of each Plan Year will be eligible for a cash incentive award in respect of such Plan Year (the "Award") based on the achievement of predetermined goals as set forth in the Performance Measurement section of the Plan. Participants will have an assigned Award target equal to a specific percentage of salary earned during the Plan Year. For this purpose, salary is defined as the Participant's annual base pay on the last day of the Plan Year, except where proration is required as a result of partial year participation or when a significant change of duties causes a significant change in the Participant's annual base pay, as determined by the Committee. An Award target is determined based on the Participant's position in the organization. The maximum Award that may be paid in any single year to any Participant is $2,000,000.

Performance Measurement

All Awards payable shall be based solely upon the achievement of specific performance targets based on one or more of the following criteria:

	
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Earnings per share (EPS)

	
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Return on capital (ROC)

	
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Earnings before interest, taxes, depreciation, amortization and special gains (charges) (Adjusted EBITDA)

	
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Sales

	
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Return on equity (ROE)

	
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After tax cash flow (ATCF)

	
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Free cash flow (FCF)

	
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Operating expense as a percentage of sales

	
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Gross profit

	
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Days purchases outstanding (DPO)

	
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Operating income (OI)

	
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Days sales outstanding (DSO)

	
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Working capital

	
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Transactions accuracy

Final Award payments will vary based on the level of achievement measured against pre-determined performance targets. Depending upon a Participant's position and responsibilities, these various performance measures, assessed based on different weightings, will determine the Award.

The Committee will establish the specific performance targets for the Plan within each of the above criteria within 90 days after the beginning of the respective Plan Year.  Of the performance targets originally established in respect of the four quarters covered by the period April 1, 2015 through March 31, 2016, the targets relating to the three quarters covered by the period April 1, 2015 through December 31, 2015 will apply in respect of the Short Plan Year.

Funding

The Plan will be self-funding, as profitability targets will be established net of target Award payments under the Plan. Therefore, achievement of profitability targets will ensure that the Plan has funded itself.

Executive Bonus Plan Payment

At the end of each Plan Year, after all financial results have been finalized, the actual Award payment will be determined and the Committee will certify in writing, that the performance goals associated with the Award have been satisfied prior to the payment of the Award. The Award will be paid in cash no later than 75 days following the end of the Plan Year.

Administration of the Plan

The Committee shall have full power to administer and interpret the Plan and, in its sole discretion, may establish or amend rules of general application for the administration of the plan and may amend or terminate the Plan at any time.

Partial Year Eligibility

Participants who are eligible for the Plan for a portion of the Plan Year will receive a prorated Award based on the base salary earned while they are eligible for the Plan or such other arrangement as agreed upon when hired.

	
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New hires

	
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Newly hired Participants will immediately be eligible for the Plan.

	
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Base salary will be accumulated from the date of hire to the end of the Plan Year, unless eligibility ceases prior to that date.

	
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Transfers

	
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For Participants who transfer from one job or employee status to another, eligibility will depend on their award eligibility before and after transferring.

	
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If a Participant transfers from a position that is not Plan eligible to a position that is eligible for an Award under the Plan, the Award will be prorated based on the time in the Plan eligible position. All calculations are done using Plan Year-end financial data.

	
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If a Participant transfers from a position that is eligible for an Award under the Plan to a position that is not Plan eligible, the Award will be prorated based on the length of time in the Plan eligible position. All calculations are done using Plan Year-end financial data.

	
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If a Participant transfers from one position that is eligible for an Award under the Plan to another position that is eligible for an Award under the Plan, participation in the Plan will continue uninterrupted.  However, if the transfer involves a move that will change the weightings used to determine a Participant's Award, the Award calculation will be based on the pro-rated time spent in each position.  All calculations will be done using Plan Year-end data. Accountabilities must be separately established and assessed for each position.

	
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Promotions

	
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If a Participant is promoted during the Plan Year, new accountabilities must be established to reflect the new position.

	
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Terminations

	
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Employees who are not employed by the Company on the last day of the Plan Year are not deemed to be Participants and therefore are ineligible to receive any Award under the Plan, except for the following circumstances:

	
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Participants who retire, become disabled or die during the Plan Year will be eligible for a prorated Award. The Award will be calculated from the date when they become eligible, normally the beginning of the Plan Year to the date of retirement, disability or death.

	
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Leave of absence

	
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If a Participant is on a leave of absence at the end of the Plan Year, he or she will be eligible for an Award provided that he or she returns to work as an active employee. Any Award paid will be prorated based upon the length of time the Participant was actively working during the Plan Year. The calculation will be made using Plan Year-end financial data. The Award payment will be made in the next regularly scheduled payroll cycle at the end of the Participant's first month of employment following his or her return from leave of absence.

	
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If a Participant is on a leave of absence during the Plan Year and returns during the Plan Year, he or she will be eligible for an Award. Any Award paid will be prorated based upon the length of time a Participant was actively working during the Plan Year. The calculation will be made using Plan Year-end financial data.

 

Tax Considerations and Withholding

Participants will be required to report taxable income in the year an Award is received. The Company will withhold taxes in the appropriate amount on all payouts.

Bankruptcy

In the event that the Company declares bankruptcy, the Committee, at its discretion, may immediately discontinue the Plan. In the event that the Plan is discontinued, all participants will forfeit the right to any payments under the Plan.

Future Employment

Payment of an Award under the Plan does not imply a contractual agreement to extend or continue employment of a Participant beyond receipt of the Award.

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