Document:

ex10_1.htm

    
      

    

    
      EXHIBIT
10.1

       

      AMENDMENT
NO. 3 TO

      MANAGEMENT
SERVICES AGREEMENT

      (Contractor)

      

      This
Amendment No. 3 to Management Services Agreement (this “Amendment”) is
entered into this 4th day of
November, 2008, by and between OrthoLogic Corp., a Delaware corporation doing
business as Capstone Therapeutics (the “Company”) and AGP
Management, LP (“Contractor”), and amends the Management Services Agreement
dated as of May 12, 2006 by and between the Company and Contractor, as amended
by Amendment No.1 dated August 3, 2006 and Amendment No. 2 dated September 1,
2008 (the “Agreement”).

      

      1.         Section
3(b) of the Agreement is hereby restated to read in its entirety as
follows:

      

      Upon the
termination of this Agreement, neither Contractor, Executive nor Executive’s
beneficiaries or estate shall have any further rights under this Agreement or
any claims against the Company arising out of this Agreement, except that
Contractor shall be entitled to receive accrued and unpaid Management Fees which
are then due and owing as of the date of termination, and, in the event of a
termination by the Company without cause, Contractor shall be entitled to a
continuation of the monthly Management Fee for a period of twelve months from
the date of termination.  Provided, however, that in the case of a
termination without cause following a determination by the Company’s Board of
Directors to liquidate the Company, payment will be made under this Section 3(b)
only if and for so long as Contractor is directly involved in the liquidation
process, not to exceed twelve months from the date of termination, in the same
manner as if Contractor had not been terminated, including performing such
services as may reasonably be requested by the Company’s Board of
Directors.  For purposes of this Agreement, “cause” shall include
Executive’s neglect of duties, willful failure to abide by instructions or
policies from or set by the Board, commission of a felony or serious misdemeanor
offense or pleading guilty or nolo contendere to same, Contractor’s breach of
this Agreement or Contractor’s breach of any other material obligation to the
Company.

      

      2.         Except
as expressly amended and modified hereby, the Agreement shall remain in full
force and effect.  In the event of any conflict or inconsistency
between the terms and provisions of the Agreement and the terms and provisions
of this Amendment, the terms and provisions of this Amendment shall govern and
control.  This Amendment may be executed in counterparts, each of
which shall be deemed an original, but all of which, when taken together, shall
constitute one and the same instrument.

      

      This
Amendment No. 3 is executed as of the date first above written.

      

      

      
        
          	
                  ORTHOLOGIC
      CORP.

                	 
      	
                  CONTRACTOR

                
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                  /s/ Fred Feldman

                	 
      	
                  /s/ John M. Holliman,
III

                
	
                  Fred
      Feldman

                	 
      	
                  John
      M. Holliman, III

                
	
                  Chairman

                	 
      	
                  General
      Partner

                
	
                  Compensation
      Committee

                	 
      	
                  AGP
      Management LPex10_2.htm

    
      

    

    
      EXHIBIT
10.2

      
         

        AMENDMENT
NO. 3 TO AGREEMENT

      

      (President
and Chief Operating Officer)

      

      This
Amendment No. 3 to Agreement (this “Amendment”) is
entered into this 4th day of
November, 2008, by and between OrthoLogic Corp., a Delaware corporation doing
business as Capstone Therapeutics (the “Company”) and
Randolph C. Steer (“Executive”) and
amends the Agreement dated as of May 12, 2006 by and between the Company and
Executive, as amended by Amendment No. 1 dated February 21, 2007 and Amendment
No. 2 dated February 21, 2008 (the “Agreement”).

      

      1.         Section
3(b) of the Agreement is hereby restated to read in its entirety as
follows:

      

      Upon the
termination of this Agreement, neither Executive nor Executive’s beneficiaries
or estate shall have any further rights under this Agreement or any claims
against the Company arising out of this Agreement, except that Executive shall
be entitled to receive accrued and unpaid compensation and benefits which are
then due and owing as of the date of termination, and, in the event of a
termination by the Company without cause, Executive shall be entitled to a
continuation of his base cash compensation, less applicable withholdings, at the
rate in effect at the time of the termination of this Agreement, payable in
accordance with the Company’s standard payroll practices as if Executive were
continuing his services to the Company, for a period of twelve months from the
date of termination.  Provided, however, that in the case of a
termination without cause following a determination by the Company’s Board of
Directors to liquidate the Company, payment will be made under this Section 3(b)
only if and for so long as Executive is directly involved in the liquidation
process, not to exceed twelve months from the date of termination, in the same
manner as if Executive had not been terminated, including performing such
services as may reasonably be requested by the Company’s Board of
Directors.  For purposes of this Agreement, “cause” shall include
neglect of duties, willful failure to abide by instructions or policies from or
set by the Board, commission of a felony or serious misdemeanor offense or
pleading guilty or nolo contendere to same, Executive’s breach of this Agreement
or Executive’s breach of any other material obligation to the
Company.

      

      2.         Except
as expressly amended and modified hereby, the Agreement shall remain in full
force and effect.  In the event of any conflict or inconsistency
between the terms and provisions of the Agreement and the terms and provisions
of this Amendment, the terms and provisions of this Amendment shall govern and
control.  This Amendment may be executed in counterparts, each of
which shall be deemed an original, but all of which, when taken together, shall
constitute one and the same instrument.

      

      This
Amendment No. 3 is executed as of the date first above written.

      

      

      
        
          	
                  ORTHOLOGIC
      CORP.

                	 
      	
                  EXECUTIVE

                
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                  /s/ Fred Feldman

                	 
      	
                  /s/ Randolph C. Steer

                
	
                  Fred
      Feldman

                	 
      	
                  Randolph
      C. Steer, MD, Ph.D.

                
	
                  Chairman

                	 
      	 
      
	
                  Compensation
      Committeeex10_25.htm

    
      

    

    EXHIBIT
10.25

     

    EMPLOYERS
MUTUAL CASUALTY COMPANY

     

    SENIOR
EXECUTIVE LONG TERM INCENTIVE PLAN

     

    The
Senior Executive Long Term Incentive Plan (LTIP) is a bonus program based on
long term Company results that incorporate the criteria and results of the
Senior Executive Compensation Bonus Program on a rolling three year basis for
calculation purposes.

    

    Purpose:

    

    1.  To
provide a motivational tool in the form of compensation to help executives focus
on long term results for specific corporate goals and objectives.

    

    2.  To
maintain a competitive advantage in terms of recruitment and retention of senior
executives.

    

    3.  To
provide a mechanism that encourages adequate notice to the Company from senior
executives regarding their retirement plans.

    

    4.  To
reward superior, long term results.

    

    Eligibility:

    

    All
members of the Policy Committee (with the exception of the President of EMC
National Life Company) will be eligible for the LTIP if they have been eligible
for the Senior Executive Compensation Bonus Program for at least three
years.  All vice presidents of Employers Mutual Casualty Company, not
covered by a separate program, will be eligible for the LTIP if they have been
eligible for the Senior Executive Compensation Bonus Program for the past three
years.  In addition, retiring senior executives will be eligible
during the year of their retirement and the next two years should bonuses be
paid.  Each LTIP bonus will be calculated according to the terms and
conditions of the Program and using each executive’s final status as an officer
and his or her base salary for the most recent year.

    

    General
LTIP Bonus Calculation

    

    The LTIP
uses the results of the latest three years Senior Executive Compensation Bonus
Program calculations, except that no minimums or maximums are applied for the
annual calculations. The results from three years of the Bonus Program are
averaged and multiplied by an adjustment factor determined by the EMCC Executive
Compensation and Stock Option Committee.

    

    
      
        
          
            	
                    Example:

                  	
                    (Year 1) 25% + (Year 2)  35% + (Year
      3)  30%

                  	
                    =
      30% X .50 (adjustment factor) = 15% X Base Salary

                  
	 
      	
                    3

                  	 
      

          

        

      

    

     

    Plan
Administration

     

    
      	
            	
              1.

            	
              An
      executive must be in the position of vice president or above a minimum of
      three years before he/she is eligible for a LTIP bonus
      payment.

            

    

    
      	
            	
              2.

            	
              An
      executive terminating employment prior to the end of a year is not
      eligible for any future LTIP payments reflecting that year’s
      results.

            

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    
      	
            	
              3.

            	
              Executives
      retiring, deceased or disabled will continue eligibility based on a
      calculation using subsequent year results and based on their final status
      as an officer according to the
following:

            

    

    
      
        	
                 
      

              	
                A.

              	
                1st
      payment  X  3/3 after last full year of employment
      (Y1)

              

      

    

    
      
        	
                 
      

              	
                B.

              	
                2nd
      payment X 2/3 after year Y1 +
1

              

      

    

    
      
        	
                 
      

              	
                C.

              	
                3rd
      payment X 1/3 after year Y1 +
2

              

      

    

    
      	
            	
              4.

            	
              For
      those retired, deceased or disabled, the LTIP percentage will be applied
      to the final full year of base
salary.

            

    

    
      	
            	
              5.

            	
              If
      retirement notification is provided 360 days or more in advance, the final
      two payments will be multiplied by a factor of
  1.50.

            

    

    
      	
            	
              6.

            	
              If
      retirement notification is provided 180 days or less in advance, the final
      two payments will be multiplied by a factor of
  1.00.

            

    

    
      	
            	
              7.

            	
              For
      notifications between those two time frames, the multiplying factor will
      be prorated.

            

    

    
      	
            	
              8.

            	
              Deductions
      for federal and state income taxes, and FICA, if applicable, will be made
      from each bonus on the basis of IRS
regulations.

            

    

    
      	
            	
              9.

            	
              Amounts
      received under the LTIP may not be deferred into the Board and Executive
      Non-qualified Excess Plan due to IRS
  limitations.

            

    

    
      	
            	
              10.

            	
              The
      Executive Compensation Committee may, at its discretion, adjust the bonus
      calculation due to unusual or extenuating
  circumstances.

            

    

    
      	
            	
              11.

            	
              Final
      calculations for LTIP amounts will be made after “final” A.M. Best
      industry estimates are released in late March or early April, subject to
      Committee discretion.

            

    

    
      	
            	
              12.

            	
              Due
      to the long term nature of the LTIP, beneficiary forms will be necessary
      from each eligible executive.  Failure to submit a beneficiary
      form will result in a default payment according to the
      following:

            

    

    
      	
               
      

            	
              A.

            	
              Spouse.  The
      eligible executive’s surviving spouse, and if no surviving spouse,
      to

            

    

    
      	
               
      

            	
              B.

            	
              Descendants.  The
      eligible executive’s children (including adopted children), in equal
      shares by right of representation (one share for each surviving child and
      one share for each child who predeceases the eligible executive with
      living descendents) and if none to

            

    

    
      	
               
      

            	
              C.

            	
              Parents.  The
      eligible executive’s surviving parents, in equal shares, and if none
      to

            

    

    
      	
               
      

            	
              D.

            	
              Estate.  The
      eligible executive’s estate.

            

    

    
      	
               
      

            	
              13.

            	
              If
      there is a disagreement or misunderstanding regarding the basis for the
      bonus or in the calculation of the amounts, the decision of the Senior
      Executive Compensation and Incentive Stock Option Committee will be
      final.  The Committee may, at its discretion, choose to pay the
      bonus amount earlier than the “final” A.M. Best estimates of industry
      results if those final numbers will have little or no impact on the final
      bonus percentage.

            

    

     

    Effective
Date

     

    The
effective date of the Long Term Incentive Plan will be January 1, 2009, with the
first calculation based on the results of the Senior Executive Compensation
Bonus Plans for 2007, 2008, and 2009.  Only those executives who have
been eligible for the short term bonus plan during those full three years at the
end of 2009 will be eligible for the first payment in 2010.

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