Document:

ex10-1.htm

    Exhibit
10.1

     

    IMMUCOR,
INC.

    

    FY 2011 Bonus Plan and
Long-Term Incentive Plan

    For Executive
Officers

    

    

    Adopted
April 19, 2010

    

    

    

    Bonus
Plan

    

    This is a
bonus plan for all officers named as executive officers by the Company’s Board
of Directors (currently the CEO, COO, CSO, CFO and General
Counsel).

    

    All
bonuses will be based on the Company achieving specified FY 2011 net income
goals and other corporate goals established by the Compensation Committee of the
Board of Directors, and on achievement of individual performance objectives
established for each participant at the beginning of the Company’s fiscal year.
Target net income is subject to such adjustments as may be deemed appropriate by
the Compensation Committee to account for acquisitions, reorganizations and
other events not contemplated by the Compensation Committee at the time the
bonus plan was adopted.

    

    To be
eligible to receive a bonus, the employee must have been employed full-time by
the Company not later than March 1 of the fiscal year to which the bonus applies
(the “bonus year”), and must be employed by the Company at the time bonuses for
the bonus year are paid.  For employees who have not been employed
full-time by the Company for the full bonus year, bonuses will be prorated on a
monthly basis, with initial employment during the first 15 days of a month being
treated as employment for the full month, and initial employment after the first
15 days of a month not being treated as a month of employment.

    

    Bonuses
are stated as a percentage of base compensation or salary as of May 31,
2011.

    

    The
Compensation Committee will have the authority to interpret the terms and
provisions of the bonus plan and to otherwise supervise the administration of
the bonus plan.  Any determination made by the Compensation Committee
under the bonus plan will be final and binding on all persons, including the
Company and the participants.

    

    

    Target Bonus
Awards

    

    The
following table shows target annual bonus awards and the bonus awards earned at
105% and 110% or more of FY 2011 target net income, as a percentage of base
compensation for each level of plan participant.  Bonus awards can be
earned on a prorated basis if actual net income is 90% or more but less than
100% of target net income.

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    
       

      
        	 	      
                Bonus
      Award (% of Base Compensation)*

              
	      
                Position
      Level

              	      
                Target
      Bonus

                (100%
      of Target Net Income)

              	      
                105%
      of Target
      

                Net
      Income

              	      
                110%
      of Target
      

                Net
      Income or Above

              
	
                CEO

              	
                45%

              	
                67.5%

              	
                90%

              
	
                Other
      Executive Officers

              	
                30%

              	
                45%

              	
                60%

              

      

    

    

    
      	
              *

            	
              For
      purposes of this illustration, assumes that other corporate goals and
      individual performance goals are
achieved.

            

    

    

    Bonus Award
Determination

    

    Plan
participants will be eligible for bonuses based on 3 components, weighted
equally:

    

    
      	
              ·

            	
              Immucor’s
      actual net income compared to target net income for FY 2011 (Net Income
      Component)

            

    

    
      	
              ·

            	
              The
      achievement of other corporate goals established by the Compensation
      Committee for FY 2011 (Corporate Goals Component);
  and

            

    

    
      	
              ·

            	
              The
      achievement of individual performance objectives for FY2011 (Individual
      Goals Component).

            

    

    

    If net
income is below 90% of target net income, no bonus payments will be made under
the bonus plan, regardless of achievement of goals under the Corporate Goals
Component and Individual Goals Component.

    

    

    NET
INCOME COMPONENT

    

    Net
Income Levels

    

    The
following table shows the percentage of the Net Income Component that will be
earned if net income is at or below the FY 2011 target net income.

    

    
      	
              If
      net income is the 

              following
      percent of 

              target
      net income*

            	
              Percentage
      of Net 

              Income
      Component

              Earned

            
	
              <95%

            	
              0%

            
	
              95%

            	
              50%

            
	
              100%

            	
              100%

            

    

    

    
      	
              *

            	
              Net
      Income Component will be prorated for in-between percentages of target net
      income.

            

    

    

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    CORPORATE
GOALS COMPONENT

    

    If net
income is at least 90% of target net income,

    

    
      	
              ·

            	
              The
      Corporate Goals Component may be earned through achievement of corporate
      goals established by the Compensation Committee for FY
    2011.

            

    

    

    The
amount of the Corporate Goals Component earned for performance in this area will
be prorated for partial achievement of goals.

    

    INDIVIDUAL
GOALS COMPONENT

    

    If net
income is at least 90% of target net income,

    

    
      	
              ·

            	
              The
      Individual Goals Component may be earned through achievement of individual
      performance goals for FY 2011.

            

    

    

    The
amount of the Individual Goals Component earned for performance for this area
will be prorated for partial achievement of goals.

     
 

    Long-Term Incentive
Plan

    

    Long-term
incentives (i.e., equity incentives) (“LTIs”) will be awarded to executive
officers for FY 2011 based on position, salary levels and employee
performance.  All awards will be granted pursuant to the Immucor, Inc.
2005 Long-Term Incentive Plan or such successor plan that may be
established.  Target values of LTI awards are stated as a percentage
of base compensation or salary as of May 31, 2010.

    

    The
Compensation Committee will have the authority to interpret the terms and
provisions of this long-term incentive plan and to otherwise supervise the
administration of this long-term incentive plan.  Any determination
made by the Compensation Committee under this long-term incentive plan will be
final and binding on all persons, including the Company and the
participants.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      
        	
                Target
      value of LTI awarded:

              	
                CEO
      – 120% to 180% of base compensation*

              
	 
      	
                Other
      Executive Officers – 80% to 120% of base compensation*

              
	 
      	 
      	 
      
	 
      	
                *
      Exact percentages to be determined by the Compensation
      Committee.

              
	 
      	 
      	 
      
	
                LTI
      target mix – CEO:

              	
                Restricted
      Stock Value

              	
                65%
      of LTI target value

              
	 
      	
                Stock
      Option Value

              	
                35%
      of LTI target value

              
	 
      	 
      	 
      
	
                LTI
      target mix –Other Executive Officers:

              	 
      
	 
      	 
      	 
      
	 
      	
                Restricted
      Stock Value

              	
                75%
      of LTI target value

              
	 
      	
                Stock
      Option Value

              	
                25%
      of LTI target value

              

      

    

     

    Long-term
incentive grants to executive officers will be subject to stock retention
guidelines established by the Compensation Committee from time to
time.

    

    Calculation of Share
Amounts

    

    Each
element of the LTI grant (i.e., stock options and restricted stock) is intended
to represent the estimated economic value of that element on the day before the
date of grant.  For purposes of determining the number of shares
covered by each element, the following calculation should be used, which assumes
(for illustration purposes only) that the economic value of stock options, using
the Black-Scholes method, is 40% of the fair market value the day before the
grant and a target mix of 75% Restricted Stock and 25% Stock
Options:

    

    LTI
Target Value x 75% = Restricted Stock Value

    

    
      LTI
Target Value x 25% = Stock Option Value

    

    

    
      #
Restricted Shares = Restricted Stock Value/ fair market value of the stock the
day before the grant

    

    

    
      # Stock
Option Shares = Stock Option Value / (Black Scholes ratio (40%) x fair market
value of the stock the day before the grant)

    

    

    Vesting

    

    Stock
Options will vest over four (4) years, 25% per year on the anniversary of the
date of grant.

    

    Restricted
Stock will vest over five (5) years, 20% per year on the anniversary of the date
of grant.

    

    

    4ex10_1.htm

Exhibit 10.1

 CONFIDENTIAL TREATMENT

 

Supplemental Agreement No. 64

to

Purchase Agreement No. 1810

between

THE BOEING COMPANY

and

SOUTHWEST AIRLINES, CO.

Relating to Boeing Model 737-7H4 Aircraft (the Aircraft)

THIS SUPPLEMENTAL AGREEMENT, entered into as of March 19, 2010, by and between THE BOEING COMPANY, a Delaware corporation with principal offices in Seattle, Washington, (Boeing) and SOUTHWEST AIRLINES, CO., a Texas corporation with principal offices in Dallas, Texas (Buyer);

WHEREAS, the parties hereto entered into Purchase Agreement No. 1810 dated January 19, 1994, relating to Boeing Model 737-7H4 aircraft (the Agreement) and;

WHEREAS, ***;

NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties agree to amend the Agreement as follows:

1.   The Table of Contents of the Agreement is deleted in its entirety and a new Table of Contents is attached hereto and incorporated into the Agreement by this reference.

2.           Letter Agreement No. SWA-PA-1810-LA-1000419 *** attached hereto and incorporated into the Agreement by this reference.

* * *

***Pursuant to 17 CFR 240.24b-2, confidential information has been omitted and has been filed separately with the Securities and Exchange Commission pursuant to a Confidential Treatment Application filed with the Commission.

 

 

 

 

P.A. No. 1810                                                                           SA-64-1

SWA

 

 

 

 

The Agreement will be deemed to be supplemented to the extent herein provided and as so supplemented will continue in full force and effect.

EXECUTED IN DUPLICATE as of the day and year first above written.

THE BOEING COMPANY                                                                           SOUTHWEST AIRLINES, CO.

By: /s/ Isabelle Sessions                                                                                               By: /s/ Scott Topping                    

Its:    Attorney-In-Fact                                                                                                   Its: VP Treasurer                            

 

 

 

 

 

  

  

  

 

TABLE OF CONTENTS

	
ARTICLES

	      	
Page Number

	
SA Number

	  	  	  	  
	
1.

	
Subject Matter of Sale

 

	
1-1

	
SA-13

	
2.

	
Delivery, Title and Risk of Loss

 

	
2-1

	
SA-28

	
3.

	
Price of Aircraft

 

	
3-1

	
SA-47

	
4.

 

	
Taxes

	
4-1

	  
	
5.

	
Payment

 

	
5-1

	  
	
6.

	
Excusable Delay

 

	
6-1

	  
	
7.

 

	
Changes to the Detail Specification

	
7-1

	
SA-1

	
8.

 

	
Federal Aviation Requirements and Certificates and Export License

	
8-1

	  
	
9.

	
Representatives, Inspection, Flights and Test Data

 

	
9-1

	  
	
10.

 

	
Assignment, Resale or Lease

	
10-1

	  
	
11.

 

	
Termination for Certain Events

	
11-1

	  
	
12.

	
Product Assurance; Disclaimer and Release; Exclusion of Liabilities; Customer Support; Indemnification and Insurance

	
12-1

	  
	
13.

	
Buyer Furnished Equipment and Spare Parts

 

	
13-1

	  
	
14.

	
Contractual Notices and Requests

 

	
14-1

	  
	
15.

	
Miscellaneous

 

	
15-1

	  

        

 

P.A. No. 1810

K/SWA                               SA-64 

 

 

          

TABLE OF CONTENTS CON'T

 

	
TABLE

 

	  	
SA Number

	
1.

	
Aircraft Information Table

 

	
SA-63

	
2.

	
Option Aircraft Information Table

 

	
SA-63

	
EXHIBITS

 

	  	
SA Number

	
A

	
Aircraft Configuration

 

	
SA-61

	
B

	
Product Assurance Document

 

	
SA-1

	
C

	
Customer Support Document

 

	  
	
D

	
Price Adjustments Due to Economic Fluctuations - Aircraft

 

	  
	
E

	
Buyer Furnished Equipment Provisions Document

 

	  
	
F

	
Defined Terms Document

 

	  

	
LETTER AGREEMENTS

 

	  
	
1810-1

	
Waiver of Aircraft Demonstration Flight

 

 

	
RESTRICTED LETTER AGREEMENTS

 

	  	
SA Number

	
6-1162-RLL-932R2

	
Promotional Support

	
SA-13

 

	
6-1162-RLL-933R21

	
Option Aircraft

	
SA-60

 

	
6-1162-RLL-934R3

	
Disclosure of Confidential Information

 

	
SA-14

	
6-1162-RLL-935R1

	
Performance Guarantees

	
SA-1

 

	
6-1162-NIW-890

	
***

	
SA-39

 

	
6-1162-RLL-936R4

	
Certain Contractual Matters

	
SA-4

 

 

 

P.A. No. 1810

K/SWA                               SA-64 

 

 

 

TABLE OF CONTENTS CON'T

 

	
RESTRICTED LETTER AGREEMENTS CONT’D

 

	  	
SA Number

	
6-1162-RLL-937

	
Alternate Advance Payment Schedule

 

	  
	
6-1162-RLL-938

	
***

 

	  
	
6-1162-RLL-939R1

	
Certification Flight Test Aircraft

 

	
SA-1

	
6-1162-RLL-940R1

	
Training Matters

 

	
SA-1

	
6-1162-RLL-941R2

	
Other Matters

 

	
SA-13

	
6-1162-RLL-942

	
Open Configuration Matters

 

	  
	
6-1162-RLL-943R1

	
Substitution Rights

 

	
SA-6

	
6-1162-RLL-944

	
***

 

	  
	
6-1162-RLL-945

	
Comparison of 737-7H4 and 737-3H4 Block Fuel Burn

 

	  
	
6-1162-RLL-1855R3

	
Additional Contractual Matters

 

	
SA-4

	
6-1162-RLL-1856

	
***

 

	
SA-1

	
6-1162-RLL-1857

	
Service Ready Validation Program Field Test

 

	
SA-1

	
6-1162-RLL-1858R1

	
Escalation Matters

 

	
SA-4

	
6-1162-RLL-2036

	
Amortization of Costs for Customer Unique Changes

 

	
SA-1

	
6-1162-RLL-2037

	
Reconciliation of the Aircraft Basic Price

 

	
SA-1

	
6-1162-RLL-2073

	
Maintenance Training Matters

	
SA-1

 

	
6-1162-KJJ-054R1

	
Business Matters

 

	  
	
6-1162-KJJ-055R1

	
Structural Matters

 

	
SA-25

	
6-1162-KJJ-056

 

	
Noise and Emission Matters

	
SA-13

	
6-1162-KJJ-057

	
Product Development Matters

 

	
SA-13

	
6-1162-KJJ-058

	
Additional Substitution Rights

 

	
SA-13

	
6-1162-KJJ-150

	
Flight Control Computer & Mode Control Panel Spares Matter

	
SA-14

	
6-1162-MSA-185R3

	
Delivery Change Contractual Matters

 

	
SA-21

 

P.A. No. 1810

K/SWA                               SA-64 

 

 

 

TABLE OF CONTENTS CON'T

 

	
RESTRICTED LETTER AGREEMENTS CON’T

 

	  	
SA Number

	
6-1162-JMG-669R8

	
***

 

	
SA-54

	
6-1162-JMG-747R1

	
***

	
SA-36

 

	
6-1162-CHL-217

	
Rescheduled Flight Test Aircraft

 

	
SA-32

	
6-1162-NIW-606R1

	
***

	
SA-36

 

	
6-1162-NIW-640

	
Early Delivery of Two April 2004 Aircraft

 

	
SA-35

	
6-1162-NIW-889

	
Warranty - Exterior Color Schemes and Markings for YA143 and on

	
SA-39

	
6-1162-NIW-1142

	
***

	
SA-43

 

	
6-1162-NIW-1369

	
***

	
SA-46

 

	
6-1162-NIW-1983

	
***

	
SA-62

 

	
SWA-PA-1810-LA-1000419

	***	
SA64

 

 

P.A. No. 1810

K/SWA                              SA-64 

 

 

 

The Boeing Company

P.O. Box 3707

Seattle, WA  98124-2207

 

 

SWA-PA-1810-LA-1000419

Southwest Airlines, Co.

P.O. Box 36611 – Love Field

Dallas, Texas 75235

	
Subject:

	
***

	
Reference:

	
Purchase Agreement No. PA-1810 (Purchase Agreement) between The Boeing Company (Boeing) and Southwest Airlines Co. (Customer) relating to Model 737-700 aircraft (Aircraft)

This Letter Agreement amends Purchase Agreement No. 1810 dated as of January 19, 1994 (Agreement) between The Boeing Company (Boeing) and Southwest Airlines, Co. (Buyer) relating to Model 737-7H4 aircraft.  All terms used and not defined herein will have the same meaning as in the Agreement.

	
1.  

	
***

In consideration of Buyer’s purchase of NDT inspection equipment for use on Buyer’s 737-300, 737-500 and/or 737-700 fleet, ***

 

	
2.  

	
Assignment.

The *** are provided in consideration of Customer’s taking title to the Aircraft at time of delivery and becoming the operator of the Aircraft.  This Letter Agreement cannot be assigned, in whole or in part, without the prior written consent of Boeing.

 

BOEING PROPRIETARY

 

 

 

Southwest Airlines, Co.

SWA-PA-1810-LA-1000419

 

 

	
3.  

	
Confidential Treatment

 

Buyer understands that certain commercial and financial information contained in this Agreement is considered by Boeing as confidential.  Buyer agrees that it will treat this Letter and the information contained herein as confidential and will not, without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein to any other person or entity, except as may be required by applicable law or government regulators.

Very truly yours,

	
THE BOEING COMPANY

	  
	
By

	
/s/ Isabelle Sessions    

	  
	
Its

	
Attorney-In-Fact         

	  
	
ACCEPTED AND AGREED TO this

	  
	
Date:

	
March 19, 2010

	  
	
SOUTHWEST AIRLINES, CO.

	  
	
By

	
/s/ Scott Topping        

	  
	
Its

	
V.P. Treasurer               

 

 

BOEING PROPRIETARY

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}]]