Document:

Exhibit 10.2  (W0761179.DOC;1)

Exhibit 10.2

Wausau Paper Corp.

Long-Term (2016) Equity Incentive Compensation Plan

Grants of performance units under the Long-Term (2016) Equity Incentive Compensation Plan will vest upon the Company’s attainment of certain targeted levels of “total shareholder return.”  The calculation of total shareholder return is measured over a three year period and is calculated by reference to a “target” and a “maximum” total shareholder return.  If total shareholder return is at the target (7% per year return, or 22.5% over the three-year performance period), grant recipients will receive 50% of the total potential award.  If total shareholder return is at or above the maximum (14% per year, or 48.2% over the three-year performance period), grant recipients will receive 100% of the total potential award.  At total shareholder return levels that are less than the maximum, the award is prorated based on the actual level of total shareholder return that is achieved.  The maximum potential award for the Chief Executive Officer, Chief Financial Officer, and our Senior Vice President & General Manager, as well as the levels that would be achieved at the target for total shareholder return, is described in the table below.

					
	 
	Performance Units Granted

	 
	Target Opportunity

(Vested award at Target TSR)

	Maximum Opportunity

(Vested award at Max. TSR)

	 

	 
	 
	 

	Chief Executive Officer

	32,817

	 
	65,633

	 

	 
	 
	 
	 
	 

	Chief Financial Officer

	7,990

	 
	15,979

	 

	 
	 
	 
	 
	 

	Senior Vice President & General Manager

	

7,990

	 
	

15,979

	 

Under the Long-Term (2016) Equity Incentive Compensation Plan, “total shareholder return” is determined by dividing (1) the sum of (a) the average closing share price for the Company’s common stock over the last 60 trading days of the period immediately prior to the end of the three-year performance period (the “Maturity Date FMV”); and (b) cash dividends paid during the three-year performance period; by (2) the average closing share price for the Company’s common stock over the last 60 trading days preceding the date of grant (the “Grant Date FMV”).  The formula for calculating TSR is as follows:

			
	(Maturity Date FMV + Cash Dividends Paid)

	– 1

	=  Total Shareholder Return

	Grant Date FMV

Total shareholder return is calculated to the closest tenth of a percent, and vested performance units are rounded to the next highest whole unit.Exhibit 10.3  (W0761181.DOC;1)

Exhibit 10.3

Wausau Paper Corp.

2014 Cash Incentive Compensation Plan

For

Executive Officers

Executive officers are entitled to receive cash incentive compensation based on the level of achievement by the Company of targeted 2014 goals for adjusted earnings per share, as derived from targeted return on capital employed.  For purposes of this plan, “earnings per share” means earnings per share as reported in the Company’s audited financial statements, adjusted for extraordinary items (which may include, for example, facility closure charges, one-time or incremental expenses associated with certain major capital projects, or other similar items) as determined in the discretion of the Compensation Committee.  Incentive bonuses will be 25% of base salary if earnings are at the bottom of the targeted range of earnings per share, and they will increase on a pro rata basis to the officer’s maximum of percentage of base salary at the top of the targeted range.  

The following table sets forth, as a percentage of base salary, the maximum cash incentive compensation opportunity for the Chief Executive Officer, Chief Financial Officer, and our Senior Vice President & General Manager under our 2014 Cash Incentive Compensation Plan.

			
	 
	Targeted Range of 

Earnings Per Share

	Maximum % of Salary

	 

	 
	 
	 

	Chief Executive Officer

	$.13–$.60

	150%

	 
	 
	 

	Chief Financial Officer

	$.13–$.60

	100%

	 
	 
	 

	Senior Vice President & General Manager

	$.13–$.60

	100%Exhibit 10.1 Q1 FY2014

        

        
TWENTY-SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

This Twenty-Second Amendment to Employment Agreement is made and entered into as of October 1, 2013, by and between PriceSmart, Inc., a Delaware Corporation ("Employer") and Jose Luis Laparte ("Executive").

Recitals

		
	A)
	On June 3, 2004 an Employment Agreement was made and entered into by and between Employer and Executive.

		
	B)
	Said Employment Agreement has been amended on twenty-one prior occasions;

		
	C)
	Employer and Executive now desire to amend the Employment Agreement, as set forth hereinbelow:

Agreement

		
	1.
	Section 3.1 of the Employment Agreement, which currently provides:

3.1     Term.  The term of Executive's employment hereunder shall commence on October 8, 2004 and shall continue until October 7, 2013, unless sooner terminated or extended as hereinafter provided (the "Employment Term").
 
is hereby amended, to provide as follows:

1.Term.  The term of Executive's employment hereunder shall commence on October 8, 2004 and shall continue until October 7, 2014, unless sooner terminated or extended as hereinafter provided (the "Employment Term").

		
	2.
	All other terms of the Employment Agreement, as amended, shall remain unaltered and fully effective.

Executed in San Diego, California, as of the date first written above.

EXECUTIVE                        EMPLOYER
PriceSmart, INC.

Jose Luis Laparte                     By:                 

______________________                Name: Robert M. Gans    

Its:     Executive Vice PresidentExhibit 10.2 Q1 FY2014

        
THIRTY-SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

This Thirty-Second Amendment to Employment Agreement is made and entered into as of October 1, 2013, by and between PriceSmart, Inc., a Delaware Corporation (“Employer”) and Robert M. Gans (“Executive”).

Recitals

		
	A)
	On September 20, 1994 an Employment Agreement was made and entered into by and between Executive and Price Enterprises, Inc.

		
	B)
	Said Employment Agreement has been assigned to Employer and amended on thirty-one prior occasions;

		
	C)
	Employer and Executive now desire to further amend the Employment Agreement, as set forth hereinbelow:

Agreement

		
	1.
	Section 3.1 of the Employment Agreement, which currently provides: 

3.1    Term.  The term of Executive's employment hereunder shall commence on October 17, 1994 and shall continue until October 16, 2013 unless sooner terminated or extended as hereinafter provided (the "Employment Term").

is hereby amended, to provide as follows:

3.1    Term.  The term of Executive's employment hereunder shall commence on October 17, 1994 and shall continue until October 16, 2014 unless sooner terminated or extended as hereinafter provided (the “Employment Term”).

2. All other terms of the Employment Agreement, as amended, shall remain unaltered and fully effective.

Executed in San Diego, California, as of the date first written above.

EXECUTIVE                        EMPLOYER
PriceSmart, INC.

Robert M. Gans                    By:                 

______________________                Name:     Jose Luis Laparte    

Its:     CEO and PresidentExhibit 10.21

 

	
Name:
    	
 
    	
[·]
    
	
Number   of Shares of Stock subject to Stock Option:
    	
 
    	
[·]
    
	
Exercise Price Per Share:
    	
 
    	
$[·]
    
	
Date of Grant:
    	
 
    	
[·]
    
	
Vesting Start Date:
    	
 
    	
[·]
    

 

ACCELERON PHARMA INC.

 

2013 EQUITY INCENTIVE PLAN

 

NON-STATUTORY STOCK OPTION AGREEMENT

 

This agreement (this “Agreement”) evidences a stock option granted by Acceleron Pharma Inc. (the “Company”) to the undersigned (the “Optionee”) pursuant to and subject to the terms of the Acceleron Pharma Inc. 2013 Equity Incentive Plan (as amended from time to time, the “Plan”).

 

1.                                      Grant of Stock Option.  The Company grants to the Optionee on the date set forth above (the “Date of Grant”) an option (the “Stock Option”) to purchase, on the terms provided herein and in the Plan, up to the number of shares of Stock set forth above (the “Shares”) with an exercise price per Share as set forth above, in each case subject to adjustment pursuant to Section 7(b) of the Plan in respect of transactions occurring after the date hereof.

 

The Stock Option evidenced by this Agreement is a non-statutory option (that is, an option that does not qualify as an incentive stock option under Section 422 of the Code) and is granted to the Optionee in connection with the Optionee’s employment by or service to the Company and its qualifying subsidiaries.  For purposes of the immediately preceding sentence, “qualifying subsidiary” means a subsidiary of the Company as to which the Company has a “controlling interest” as described in Treas. Regs. §1.409A-1(b)(5)(iii)(E)(1).

 

2.                                      Meaning of Certain Terms.  Except as otherwise defined herein, all capitalized terms used herein have the same meaning as in the Plan.  The following terms have the following meanings:

 

(a)                                 “Beneficiary” means, in the event of the Optionee’s death, the beneficiary named in the written designation (in form acceptable to the Administrator) most recently filed with the Administrator by the Optionee prior to the Optionee’s death and not subsequently revoked, or, if there is no such designated beneficiary, the executor or administrator of the Optionee’s estate.  An effective beneficiary designation will be treated as having been revoked only upon receipt by the Administrator, prior to the Optionee’s death, of an instrument of revocation in form acceptable to the Administrator.

 

 

(b)                                 “Option Holder” means the Optionee or, if as of the relevant time the Stock Option has passed to a Beneficiary, the Beneficiary.

 

3.                                      Vesting; Method of Exercise; Treatment of the Stock Option Upon Cessation of Employment.

 

(a)                                 Vesting.  As used herein with respect to the Stock Option or any portion thereof, the term “vest” means to become exercisable and the term “vested” as applied to any outstanding Stock Option means that the Stock Option is then exercisable, subject in each case to the terms of the Plan.  Unless earlier terminated, forfeited, relinquished or expired, the Stock Option will vest as to [1/4th of the Shares on [the first anniversary of the Vesting Start Date](1) and thereafter as to 1/16th of the Shares on each subsequent three-month anniversary of [the one-year anniversary of the Vesting Start Date](2)]  [1/16th of the Shares on the three-month anniversary of the Vesting Start Date and thereafter as to 1/16th of the Shares on each subsequent three-month anniversary of the Vesting Start Date],(3) with the number of Shares that vest on any such date being rounded down to the nearest whole Share and the Stock Option becoming vested as to 100% of the Shares on the fourth anniversary of the Vesting Start Date.  Notwithstanding the foregoing, Shares subject to the Stock Option shall not vest on any vesting date unless the Optionee has remained in continuous Employment from the Date of Grant through such vesting date.

 

(b)                                 Exercise of the Stock Option.  No portion of the Stock Option may be exercised until such portion vests.  Each election to exercise any vested portion of the Stock Option will be subject to the terms and conditions of the Plan and shall be in writing, signed by the Option Holder (or in such other form as is acceptable to the Administrator).  Each such written exercise election must be received by the Company at its principal office or by such other party as the Administrator may prescribe and be accompanied by payment in full as provided in the Plan.  The exercise price may be paid (i) by cash or check acceptable to the Administrator, (ii) to the extent permitted by the Administrator, through a broker-assisted cashless exercise program acceptable to the Administrator, (iii) by such other means, if any, as may be acceptable to the Administrator, or (iv) by any combination of the foregoing permissible forms of payment.  In the event that the Stock Option is exercised by a person other than the Optionee, the Company will be under no obligation to deliver Shares hereunder unless and until it is satisfied as to the authority of the Option

 

(1)  Note to Draft:  Insert appropriate date.

 

(2)  Note to Draft:  Insert appropriate date.

 

(3)  Note to Draft:  Alternative vesting terms to be confirmed.

 

2

 

Holder to exercise the Stock Option and compliance with applicable securities laws.  The latest date on which the Stock Option or any portion thereof may be exercised will be the 10th anniversary of the Date of Grant (the “Final Exercise Date”); provided, however, if at such time the Optionee is prohibited by applicable law or written Company policy applicable to similarly situated employees from engaging in any open-market sales of Stock, the Final Exercise Date will be automatically extended to thirty (30) days following the date the Optionee is no longer prohibited from engaging in such open-market sales.  If the Stock Option is not exercised by the Final Exercise Date the Stock Option or any remaining portion thereof will thereupon immediately terminate.

 

(c)                                  Treatment of the Stock Option Upon Cessation of Employment.  If the Optionee’s Employment ceases, the Stock Option, to the extent not already vested will be immediately forfeited, and any vested portion of the Stock Option that is then outstanding will be treated as follows:

 

(i)                                     Subject to clauses (ii) and (iii) below and Section 4 of this Agreement, the Stock Option, to the extent vested immediately prior to the cessation of the Optionee’s Employment, will remain exercisable until the earlier of (A) the date that is three months following the date of such cessation of Employment, or (B) the Final Exercise Date, and except to the extent previously exercised as permitted by this Section 3(c)(i) will thereupon immediately terminate.

 

(ii)                                  Subject to clauses (iii) below and Section 4 of this Agreement, the Stock Option, to the extent vested immediately prior to the cessation of the Optionee’s Employment due to death, will remain exercisable until the earlier of (A) the first anniversary of the Optionee’s death or (B) the Final Exercise Date, and except to the extent previously exercised as permitted by this Section 3(c)(ii) will thereupon immediately terminate.

 

(iii)                               If the Optionee’s Employment is terminated by the Company and its subsidiaries in connection with an act or failure to act constituting Cause (as the Administrator, in its sole discretion, may determine), or such termination occurs in circumstances that in the determination of the Administrator would have entitled the Company and its subsidiaries to terminate the Optionee’s Employment for Cause, the Stock Option (whether or not vested) will immediately terminate and be forfeited upon such termination.

 

3

 

4.                                      Forfeiture; Recovery of Compensation.

 

(a)                                 The Administrator may cancel, rescind, withhold or otherwise limit or restrict the Stock Option at any time if the Optionee is not in compliance with all applicable provisions of this Agreement and the Plan.

 

(b)                                 By accepting the Stock Option, the Optionee expressly acknowledges and agrees that his or her rights, and those of any permitted transferee of the Stock Option, under the Stock Option, including  to any Stock acquired under the Stock Option or proceeds from the disposition thereof, are subject to Section 6(a)(5) of the Plan (including any successor provision). Nothing in the preceding sentence shall be construed as limiting the general application of Section 8 of this Agreement.

 

5.                                      Transfer of Stock Option.  The Stock Option may not be transferred except as expressly permitted under Section 6(a)(3) of the Plan.

 

6.                                      Withholding.  The exercise of this Stock Option will give rise to “wages” subject to withholding.  The Optionee expressly acknowledges and agrees that the Optionee’s rights hereunder, including the right to be issued Shares upon exercise, are subject to the Optionee promptly paying to the Company in cash (or by such other means as may be acceptable to the Administrator in its discretion) all taxes required to be withheld.  No Shares will be transferred pursuant to the exercise of this Stock Option unless and until the person exercising this Stock Option has remitted to the Company an amount in cash sufficient to satisfy any federal, state, or local withholding tax requirements, or has made other arrangements satisfactory to the Company with respect to such taxes.  The Optionee authorizes the Company and its subsidiaries to withhold such amount from any amounts otherwise owed to the Optionee, but nothing in this sentence shall be construed as relieving the Optionee of any liability for satisfying his or her obligation under the preceding provisions of this Section.

 

7.                                      Effect on Employment.  Neither the grant of the Stock Option, nor the issuance of Shares upon exercise of the Stock Option, will give the Optionee any right to be retained in the employ or service of the Company or any of its Affiliates, affect the right of the Company or any of its Affiliates to discharge or discipline such Optionee at any time, or affect any right of such Optionee to terminate his or her Employment at any time.

 

8.                                      Provisions of the Plan.  This Agreement is subject in its entirety to the provisions of the Plan, which are incorporated herein by reference.  A copy of the Plan as in effect on the Date of Grant has been furnished to the Optionee.  By exercising all or any part of the Stock Option, the Optionee agrees to be bound by the terms of the Plan and this Agreement.  In the event of any conflict between the terms of this Agreement and the Plan, the terms of the Plan shall control.

 

9.                                      Acknowledgements.  The Optionee acknowledges and agrees that (i) this Agreement may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument, (ii) this agreement may be executed and exchanged using facsimile, portable document format

 

4

 

(PDF) or electronic signature, which, in each case, shall constitute an original signature for all purposes hereunder and (iii) such signature by the Company will be binding against the Company and will create a legally binding agreement when this Agreement is countersigned by the Optionee.

 

[Signature page follows.]

 

5

 

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer.

 

	
 
    	
 
    	
ACCELERON   PHARMA INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
Dated:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Acknowledged   and Agreed:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By
    	
 
    	
 
    	
 
    
	
 
    	
[Optionee’s   Name]

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