Document:

exhibit10-9.htm

    Exhibit 10.9

    

    FPIC Insurance Group,
Inc.

    

    Executive Incentive

    Compensation Plan

    

    Summary of 2008 Implementation
Guide

    

    

    Plan
Description

    Under this plan, the Compensation
Committee of the holding company board will establish performance measures and
goal weightings for each year based on synergies and desired focus. The
performance measures will be both quantitative and qualitative in
nature.

    

    Performance
Components

    Corporate financial measures will be
based on corporate relevant metrics and operating subsidiary (OS) measures will
be based on OS relevant metrics. Certain senior executives of each OS, including
its CEO, will have a portion of their incentive compensation tied to corporate
performance given the high degree of synergy with corporate
objectives.

    

    The following performance component
weights will apply to the Company’s executive officers for
2008:

    

    
      	
              Tier

            	
              Corporate

            	
              OS

            	
              Individual

            
	
              Holding Co. -
      CEO/CFO

            	
              100% 

            	
              - 

            	
              - 

            
	
              OS - CEO

            	
              45% 

            	
              35% 

            	
              20% 

            

    

    

    

    Performance
Targets

    Specific targets will be established on
an annual basis for each performance component and will be evaluated on a
sliding scale ranging from 50% of the bonus opportunity to 150% of the bonus
opportunity. Any measure falling below the 50% level will reduce the related
bonus opportunity to 0%.

    

    Individual
Target Bonuses

    Target bonuses for the following
executive officers will be as follows (as a percentage of 2008 base
salary):

     

    
      	
               

              Tier

            	
              Target Bonus

              (as % of base
      salary)

            
	
              Holding Co. -
      CEO

            	
              100%

            
	
              Holding Co. -
      CFO

            	
              50%

            
	
              OS - CEO

            	
              50%exhibit10-16.htm

    Exhibit
      10.16

    

    Director
      Compensation

    

    The
      following describes the various
      elements of our director compensation program.

    

    Annual
      Board Retainers.
 An
      annual retainer of $60,000 is paid to each member of the Board of Directors
      who
      is not an employee of ours, subject to reduction as determined by the Board
      of
      Directors in the event a director is absent from more than 25% of the Board
      of
      Directors’ meetings during any calendar year.  The Chairman of the
      Board receives an additional annual Board fee of $25,000 and the Vice Chairman
      of the Board and the Immediate Past Chairman of the Board receives an additional
      annual Board fee of $6,000.

    

    Annual
      Committee Retainers.  Annual retainer
      fees to
      the nonemployee chairman of the committees of the Board of Directors are paid
      as
      follows:

    

    
      
        	 	 	
                Chairman

              	 
	
                Audit

              	 	$	9,000	 
	
                Compensation

              	 	$	5,000	 
	
                Governance

              	 	$	2,500	 
	
                Executive

              	 	 	—	 
	
                Nominating

              	 	 	—	 
	
                All
                  Other

              	 	$	2,500	 

      

    

    

    Fees
      for Off-Cycle Meetings. 
      A fee of $650 is paid to each nonemployee member of the Board of Directors
      for
      attendance at any “Off-Cycle” meeting of the Board of Directors or any Committee
      of the Board of Directors (regardless of whether the Director is a member of
      that Committee).  “Off-Cycle” means (i) any meeting of the Board of
      Directors in excess of 5 meetings per year and (ii) any meeting of any Committee
      of the Board of Directors not coinciding with a regularly scheduled meeting
      of
      the Board of Directors.

    

    Equity
      Compensation. Each
      nonemployee member of the Board of Directors receives on the date of each of
      our
      annual meetings of shareholders an award under our Amended and Restated Director
      Stock Plan (the “Director Stock Plan”) of 1,000 shares of restricted common
      stock, which fully vest on the first anniversary of the date of
      grant.  In addition, new nonemployee directors will receive on the
      date of their initial election to the Board of Directors an award under our
      Director Stock Plan of 1,000 shares of restricted common stock, which will
      fully
      vest on the first anniversary of the date of grant.

    

    Payment
      or Reimbursement for Reasonable Expenses. Reasonable
      expenses incurred by a director for attendance at meetings of the Board of
      Directors and its committees are paid or reimbursed by us.

    

    Deferred
      Compensation Plan. We
      also offer our directors a nonqualified deferred compensation plan, under which
      directors may defer all or a portion of their fees earned as
      directors.  Under this plan, deferred fees will be paid, as adjusted
      for investment gains or losses, at such time in the future as specified by
      the
      participating director under the terms of the plan.Exhibit 4.4.1

 

AMENDMENT NO. 2

 

TO

 

EQUITYHOLDERS AGREEMENT

 

AMENDMENT
(this “Amendment”),
dated as of February 26, 2008, to the EQUITYHOLDERS AGREEMENT (the “Agreement”), dated as
of February 10, 2005, among Emergency Medical Services L.P., a Delaware
limited partnership (the “Company”),
Onex Partners LP, a Delaware limited partnership (“Onex Partners”), the
equityholders signatory thereto and such other equityholders of the Company as
may, from time to time, become parties to the Agreement in accordance with the
provisions thereof.  Any capitalized term
used herein and not defined shall have the meaning given to such term in the
Agreement.

 

Pursuant to Section 6.13 of the Agreement, the
Company, the Majority Onex Investors and the Management Representatives desire
to amend the Agreement as set forth herein.

 

The parties agree hereby as follows:

 

1.                                       Amendments.

 

(a)           The definition of “Pre-QPO Units” is
hereby amended to read in its entirety as follows:

 

The term “Pre-QPO
Units”, as to any Person, means the Units held by that Person
immediately prior to the consummation of a Qualified Public Offering, but
excluding any Units issued or issuable upon the exercise of any option held by
that Person immediately prior to the consummation of a Qualified Public Offering.

 

(b)           Section 1.6 is
hereby amended to read in its entirety as follows:

 

Termination.  The
provisions of this Article 1 shall terminate automatically upon the
earlier to occur of (a) an Approved Sale and (b) the 181st day
following a Qualified Public Offering; provided
however, that notwithstanding the foregoing, in the case of a
Restricted Employee Investor the provisions of this Article 1 shall
continue, but only as to Pre-QPO Units, and shall terminate as to
Pre-QPO Units automatically upon the earlier to occur of (a) an Approved
Sale and (b) the fifth anniversary of a Qualified Public Offering.

 

2.             Governing Law.  This Amendment shall be governed by, and
interpreted in accordance with, the laws of the State of Delaware.

 

3.             Counterparts.  This Amendment may be executed in any number
of counterparts which together shall constitute one and the same instrument.

 

 

4.             No Further
Amendment.   Except as
expressly amended in paragraph 1 of this Amendment, the terms and conditions of
the Agreement shall remain in full force and effect, and are hereby ratified
and confirmed in all respects.

 

*  *  *

 

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

 

EMERGENCY
MEDICAL SERVICES CORPORATION, 

as successor to the issuer of the Units

 

 

	
  By:

  	
       /s/  Todd
  G. Zimmerman

  	
   

  
	
   

  	
  Name:   Todd
  G. Zimmerman

  	
   

  
	
   

  	
  Title:     Executive
  Vice President

  	
   

  

 

EMERGENCY
MEDICAL SERVICES L.P.

 

	
  By:

  	
  Emergency
  Medical Services

  	
   

  
	
   

  	
  Corporation,
  its general partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
       /s/  Todd
  G. Zimmerman

  	
   

  
	
   

  	
  Name:   Todd
  G. Zimmerman

  	
   

  
	
   

  	
  Title:     Executive
  Vice President

  	
   

  

 

 

MANAGEMENT
REPRESENTATIVES:

 

	
        /s/
  William A. Sanger

  	
   

  
	
  William
  A. Sanger, Chief Executive Officer

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
        /s/
  Randel G. Owen

  	
   

  
	
  Randel
  G. Owen, Chief Financial Officer

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
        /s/
  Todd G. Zimmerman

  	
   

  
	
  Todd
  G. Zimmerman, Executive Vice President 

  and Secretary

  	
   

  

 

 

	
  ONEX
  PARTNERS LP (as a Majority Onex Investor)

  	
  ONEX
  PARTNERS LLC (as a Majority Onex 

  Investor)

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  Onex
  Partners GP LP, its General

  	
   

  	
   

  
	
   

  	
  Partner

  	
  By:

  	
          /s/
  Robert M. Le Blanc

  
	
  By:

  	
  Onex
  Partners Manager LP, its Agent

  	
   

  	
  Name:   Robert M. Le Blanc

  
	
  By:

  	
  Onex
  Partners Manager GP Inc., its

  	
   

  	
  Title:
      Director

  
	
   

  	
  General
  Partner

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
          /s/
  Donald F. West

  
	
   

  	
   

  	
   

  	
  Name:
    Donald F. West

  
	
  By:

  	
      /s/ Robert M. Le Blanc

  	
   

  	
  Title:     Director

  
	
   

  	
  Name:  Robert M. Le Blanc

  	
   

  	
   

  
	
   

  	
  Title:    President

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
      /s/
  Donald F. West

  	
   

  	
   

  
	
   

  	
  Name:  Donald
  F. West

  	
   

  	
   

  
	
   

  	
  Title:    Vice
  President

  	
   

  	
   

  

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO EQUITYHOLDERS AGREEMENT]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]