Document:

2012 Executive Officer Performance Bonus Plan

 EXHIBIT 10.1 

 
 

 
 2012 Executive Officer Performance Bonus Plan 

Plan Goal 
 The purpose of the
HomeAway 2012 Executive Officer Performance Bonus Plan (the “Plan”) is to motivate exceptional performance by the executive officers of HomeAway U.S. (the “Company”) throughout the year by rewarding the achievement of
pre-established business objectives. The Plan is to be administered by the Compensation Committee of the Board of Directors of the Company (the “Committee”). 
 Plan Year 
 The term of the Plan is January 1 – December 31, 2012.

 Eligibility 
 All U.S.
based executive officers of the Company who are not eligible to participate in another Company incentive plan (for example, the Company’s commission-based incentive plan) (the “Executive Officers”) are eligible to participate in the
Plan. Plan eligibility for newly hired Executive Officers begins on the first day of the fiscal quarter following their hire date. 

Target Bonus 
 The annual target
bonus opportunity for the Chief Executive Officer is 100% of his base salary. The annual target bonus opportunity for the Chief Operating Officer is 75% of his base salary; the target bonus opportunity for all other Executive Officers is 60% of
their base salary. For purposes of determining an Executive Officer’s annual target bonus opportunity, “base salary,” means the cumulative base salary earnings for the Plan year. 

Budget 
 The annual Plan budget is
the sum of each annual target bonus opportunity (expressed as a percentage of base salary) multiplied by the respective cumulative base salary earnings for each Executive Officer. 
 Bonus Calculation 
 Bonuses will be considered earned and accrued as of
December 31, 2012. The bonuses for the Executive Officers are to be calculated using the performance grids approved by the Committee. 

The performance grids are based upon an acceptable range of business results with the expectation that the Executive Officers may need to make trade offs
between GAAP Revenue and Adjusted GAAP EBITDA during the course of the year. 

 While this is the case, the Committee requires that GAAP revenue reach a specific level before paying
overachievement on Adjusted GAAP EBITDA. 
 Using a straight-line bonus calculation made by the Committee at fiscal year-end, the Company’s
GAAP Revenue and Adjusted GAAP EBITDA results, together with the results for each Executive Officer’s individual performance objectives (the “MBOs”), will be evaluated by the Committee to determine the total bonus credits for the Plan
year. 
 This calculation may be expressed as the following formula: 
 (GAAP Revenue Bonus Credit + Adjusted GAAP EBITDA Bonus Credit + MBO Bonus Credit) * Annual Bonus Target) multiplied by the cumulative base salary earnings for each Executive Officer. 

Performance Measures 
 Within the
first 90 days of the Plan year the Committee will identify an acceptable range of business results for the GAAP Revenue and Adjusted GAAP EBITDA performance measures. Once established, these ranges will be communicated to the Executive Officers in
the form of performance grids. These performance grids are subject to change by the Committee in the event of acquisitions, dispositions or other events (other than company performance) having a material impact on GAAP Revenue or Adjusted GAAP
EBITDA. 
 The MBO portion of each Executive Officer’s annual target bonus opportunity will be discretionary based upon the achievement of
qualitative performance objectives assigned and evaluated by the Chief Executive Officer, the Committee, and/or the Board of Directors. 

MBO Performance 
  

 
 Bonus Payments 
 The Executive Officers will receive any earned bonus payments after the end of the Plan year, typically in February or March, following confirmation of the achievement of the performance measures s by the
Committee. See “Bonus Calculation” below for additional information. 

 Payment Type 
 Bonus payments will be made via direct deposit or live check with all applicable taxes withheld. Bonus payments will be subject to the applicable federal income tax withholding rate (currently, 25%), in
addition to applicable FICA, state, and local taxes. In addition, any current Section 401(k) contribution, as applicable, will be deducted from a bonus before payment is made. Bonus payments will be excluded from the calculation of benefits
payable under any other Company benefits plan or program, with the exception of Company-paid life insurance, accidental death and disability insurance, and disability insurance. 
 Program Administration, Amendment & Termination 
 Final authority on all
issues related to the Plan will reside with the Committee. The Plan may be modified, terminated, or rescinded in whole or in part at any time by the Committee and/or the Board of Directors, provided, however, that no revision or termination that
would have an adverse effect on any outstanding awards earned. No modification or exception to the Plan is valid or enforceable unless approved in writing by the Committee. Executive Officers’ target bonus opportunities may be
modified at the discretion of the Committee at any time. 
 At-Will Employment 

The Plan does not affect the “at will” employment status of the Executive Officers. Neither the attainment of goals nor the continuous
service requirement necessary to earn a bonus alters the ability of an Executive Officer or the Company to terminate employment at any time, with or without reason and with or without advance notice. 

Discretionary Nature of Plan and Award Payments 
 No individual has a vested entitlement to any payment under the Plan; all awards are paid at the sole discretion of the Committee. Specifically, regardless of whether an award has been consistently paid
over any period of time, the Committee, at its sole discretion, reserves the right to (i) increase or decrease targets and target bonus award percentages, (ii) terminate the participation of any individual in the Plan at any time for any
legal reason, and/or (iii) modify, terminate, or rescind the Plan, in whole or in part, all with or without notice or cause. 

Application of Deferred Compensation Rules 
 The Plan is generally to be operated in a manner that complies with Section 409A of the Internal Revenue Code and, as such, all awards paid under the Plan will be paid as set forth above. 

Effective Date 
 The Plan shall take
effect on January 1, 2012 and will supersede and replace all other bonus plans applicable to eligible employees. The Plan will terminate on December 31, 2012.Exhibit 4.1

 Exhibit 4.1 

 

	
	

 The following abbreviations, when used in the inscription on the face of this certificate,
shall be construed as though they were written out in full according to applicable laws or regulations: 
  

													
	TEN COM	 	-	 	as tenants in common	  	UNIF GIFT MIN ACT-	 	  
	 	Custodian	 	  

	TEN ENT	 	-	 	as tenants by the entireties	  		 	(Cust)	 		 	(Minor)
	JT TEN	 	-	 	as joint tenants with right of survivorship and not as tenants in common	  		 		 	under Uniform Gifts to Minors
		 		 		  		 	Act	 	  

		 		 		  		 		 	(State)

 Additional abbreviations may also be used though not in the above list. 

For Value Received,
                            hereby sell, assign and transfer unto 

 

			
	PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE	  	
	 	
	 	  	 

  
  

 
 (PLEASE PRINT OR TYPEWRITE NAME AND
ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE) 
  
  

 

			
	  
	 	Shares of

			
	the Common Stock represented by the within Certificate, and do hereby irrevocably constitute and appoint	 	  

  

			
	  
	 	Attorney

 to transfer the said Shares on the books of the within named Corporation with full power of substitution in the
premises. 
  

			
	Dated:	 	  

  

			
	x	 	  

		
	x	 	  

	NOTICE:	 	 THE SIGNATURE(S)TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME(S) AS WRITTEN UPON THE FACE OF THIS CERTIFICATE IN EVERY
PARTICULAR,
 WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

  

			
	Signature(s) Guaranteed
		
	BY:	 	  

		 	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.Exhibit 4.2

 Exhibit 4.2 

 

	
	

 1. Number of Shares Available Under this Warrant; Exercise Price: Expiration. 

1.1 Number of Shares. The Registered Holder is entitled to purchase the number of shares of NPB’s common stock specified on the face of this warrant
under the terms of this warrant. NPB shall reserve for issuance to the Registered Holder the shares that can be acquired or exercised pursuant to this warrant. The warrants are being issued pursuant to the offering the terms and conditions of which
are set forth in NPB’s Prospectus dated                     2012 (the “Prospectus”) and are incorporated herein by reference. Copies
of the Prospectus may be obtained from Registrar and Transfer Company, the Warrant Agent (“RT”). 
 1.2 Exercise Price. The exercise
price (“Purchase Price”) for each share to be acquired by the Registered Holder by exercise of this warrant is $1.75. 
 1.3
Expiration. This warrant is exercisable upon issuance and at any time thereafter until 5:00 p.m., local time in Cranford, N.J. on
                    (the “Expiration Time”). After the Expiration Time, no unexercised portion of this warrant shall be exercisable.

 2. No Fractional Shares. In the event that the exercise of this warrant would result in the issuance of a fractional share of common
stock (that is, in the issuance of less than one whole share of common stock), the fraction shall be disregarded and the Registered Holder shall not be entitled to any compensation therefor. 
 3. Adjustments of Number of Shares Issuable Upon Exercise of Warrant. The exercise price and the number of shares underlying the warrant are subject to appropriate adjustment in the even of stock
splits, reverse stock splits, stock dividends on NPB’s common stock, stock combinations or similar events affecting NPB’s common stock. In addition, in the event of any merger, consolidation, sale or other reorganization event in which
NPB’s common stock is converted into or exchanged for securities, cash or other property, then following such event, the Registered Holder will be entitled to receive upon exercise of the warrants the kind and amount of securities, cash or
other property which the holders would have received had they exercised the warrants immediately prior to the reorganization event. 
 Except to
the extent specified in Section 3, the Registered Holder shall not be entitled to any adjustment as a result of the issuance of common shares for value, including, by way of example only, the sale of authorized but unissued common shares or the
issuance of shares pursuant to any equity incentive or compensation plan, the exercises of options or warrants, or any other issuance of any securities of NPB for value. 
 4. Covenants of NPB. NPB agrees that all shares which may be issued upon the exercise of this warrant shall, upon issuance, be duly authorized, validly issued, fully paid and non-assessable and
free from all preemptive rights of any shareholder and all taxes, liens and charges with respect to the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such Issue). 

5. Warrant Registered Holder Not Deemed a Shareholder. The Registered Holder of this warrant, as such, is not entitled to vote or receive
dividends or have the rights associated with the owner of common shares for any purpose, as such, any right to vote, give or withhold consent to any corporate action, receive notice of meetings, receive dividends, or subscription rights, or
otherwise, prior to the issuance of record to the Registered Holder the shares to the Registered Holder upon the exercise of this warrant. 
 6.
Limitations On Exercise of Warrants. This warrant may be exercised in whole and in part on one or more occasions; provided, that partial exercises shall be for not fewer than the purchase of the lesser of (a) not less than one hundred
(100) shares or (b) all shares then available for exercise under the warrant. The Registered Holder may exercise the same by surrendering this warrant, with the form of subscription at the end hereof duly executed by such Registered Holder
accompanied by payment in U.S. Dollars by personal check drawn on a U.S. bank, including New Peoples Bank, or a cashier’s check drawn only on New Peoples Bank, Inc. payable as set forth below or by wire transfer as provided below. 

7. Non-Transferability of Warrants. The Registered Holder understands that NPB shall not permit the purchase of any shares under this warrant by
any person other than the Registered Holder or transferees by operation of the law. This warrant is not transferable except by operation of the law. The Registered Holder further understands that only the Registered Holder may exercise or attempt to
exercise this warrant. The warrants are not attached to the shares that were offered in the offering in connection with which the warrants were issued. If these shares are transferred by the Registered Holder, the Registered Holder will retain the
related warrants. 
 8. Notices. All communications hereunder shall be In writing mailed by registered or certified mail, hand delivery
or delivered by courier, if to NPB to 67 Commerce Drive, Honaker VA 24260, Attention: President; or if to Registrar and Transfer Company, the Warrant Agent, to 10 Commerce Drive, Cranford N.J. 07016, Attention: Reorg/Exchange Department. All
communications hereunder shall be in writing and, If sent to the Registered Holder, shall be mailed by registered or certified mall, hand delivered or delivered by courier, to the address of such Registered Holder as set forth in NPB’s or
Registrar and Transfer’s records. The Registered Holder may change his, her or its address by proper notice to NPB and Registrar and Transfer sent in conformity with this Section. Risk of non-transmission or untimely delivery of any notice
shall be and remain at all times on the Registered Holder. 
 
 DELIVERY OPTIONS FOR SHARES 
 By Mail, Hand or Overnight Courier: 

Registrar & Transfer Company 
 10 Commerce Drive 
 Cranford, New Jersey 07016 

Attention: Reorg/Exchange Department 
 Delivery to an address other than the address listed above will not constitute valid delivery. 
 Delivery by facsimile will not constitute valid delivery. 
 PLEASE PRINT ALL INFORMATION CLEARLY
AND LEGIBLY 
 IF YOU WISH TO EXERCISE ALL OR A PORTION OF YOUR WARRANTS 

 

									
	I exercise	 	  
	 	warrants x 1.00. =	 	  
	  	
		 	    (no. of warrants)    	 		 	    (total no. of your new shares)    	  	

 Therefore, I apply for: 
  

							
	  
	 	x $1.75 = $	 	  
	  	
	    (no. of new shares)    	 		 	    (amount enclosed)    	  	

 TO EXERCISE: I acknowledge that I received the Prospectus and I hereby irrevocably exercise the number of warrants set
forth above for the number of shares indicated above on the terms and conditions specified in the Prospectus. I hereby agree that if I fail to pay for the shares which I have subscribed, the Company may exercise its legal remedies against me.

  

	
	  

	Signature(s) of Subscriber(s)

                    Indicate, by initialing in the
provided blank, that you are aware of the absence of deposit insurance covering the securities being sold pursuant to this Warrant Certificate. 

IMPORTANT: THE SIGNATURE(S) MUST CORRESPOND IN EVERY PARTICULAR, WITHOUT ALTERATION, WITH THE NAME(S) AS PRINTED ON THE REVERSE OF THIS WARRANT
CERTIFICATE. 
 If signature is by trustee(s), executor(s), administrator(s), guardians(s), attorney(s)-in-fact, agent(s),officer(s) of a
corporation or another acting in a fiduciary or representative capacity, please provide the following information (please print). See the instructions. 
  

									
	Name(s):	 	  
	 		 	Taxpayer ID# or Social Security #:	 	  

  

			
	Capacity (Full Title)	  	  

 FULL PAYMENT FOR THE SHARES MUST ACCOMPANY THIS FORM AND MUST BE MADE IN U.S. DOLLARS BY PERSONAL CHECK
DRAWN ON A U.S. BANK, INCLUDING NEW PEOPLES BANK, OR BY A CASHIER’S CHECK DRAWN ONLY ON NEW PEOPLES BANK OR WIRETRANSFER PAYABLE TO REGISTRAR AND TRANSFER COMPANY.

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