Document:

exv10w10wxby

 

Exhibit 10.10(b)

FIRST AMENDMENT

TO THE

VWR INTERNATIONAL, INC.

NONQUALIFIED DEFERRED COMPENSATION PLAN

TRUST AGREEMENT

          WHEREAS, VWR International, Inc. and Wells Fargo Bank, N.A. (the “Trustee”) entered into a
Trust Agreement (the “Agreement”) under the VWR International, Inc. Nonqualified Deferred
Compensation Plan (the “Plan”) on May 1, 2007; and

          WHEREAS, a “Change of Control” of VWR International, Inc., as defined in Section 13.4 of the
Agreement, occurred on June 29, 2007; and

          WHEREAS, in connection with such Change of Control, VWR International, Inc. was converted to a
limited liability company in accordance with Delaware law and renamed VWR International, LLC (the
“Company”); and

          WHEREAS, the Company and the Trustee desire to amend the Agreement in order to reflect such
conversion and to revise the provisions of the Agreement relating to the effect of a Change of
Control; and

          WHEREAS, under Section 12.4 of the Plan, the Agreement cannot be amended on or after the date
of a Change of Control without the consent of all Plan participants and beneficiaries of deceased
participants, with certain irrelevant exceptions;

          NOW, THEREFORE, subject to the consent of all Plan participants (there being no deceased
participants), the Company and the Trustee hereby amend the Agreement as follows:

	1.	 	Effective on and after June 29, 2007, the term “Company” is redefined to mean VWR
International, LLC.

2. Effective May 1, 2007, Section 13.4 of the Plan is amended to read as follows:

          Section 13.4 For purposes of this Trust, “Change of Control” shall mean a “change in
control event” as defined in Treasury regulations or other guidance issued pursuant to Code
§409A, provided that:

               (1) An event shall not be treated as a Change of Control if the Company or its
successor enters into a binding written agreement in connection with such change in control
event to continue the Plan and Trust Agreement in effect in accordance with their terms
immediately prior to such change in control event (except to the extent required by
applicable law) for a period of 10 years following such change in control event. If, prior
to the end of such period, the Company or its successor fails to continue the Plan and Trust
Agreement in effect pursuant to such agreement, a Change of Control shall be deemed to occur
on the date such failure first occurs.

 

 

               (2) An event shall not be treated as a Change in Control with respect to any amounts
deposited by the Company to the Trust after the date of such event, in accordance with the
terms of the Plan, in connection with benefits which accrue under the Plan after the date of
such event and which do not become payable under the Plan as a result of such event (as
adjusted for earnings and losses).

          IN WITNESS WHEREOF, the Company and the Trustee have caused this First Amendment to the
Agreement to be executed by individuals thereunto duly authorized as of the day and year first
above written.

	 	 	 	 	 	 	 	 	 	 	 
	VWR INTERNATIONAL, LLC	 	 	 	WELLS FARGO BANK, N.A., Trustee	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 
	Title:

	 	 	 	 	 	Title:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 

- 2 -exv10w14

 

Exhibit 10.14

Board Compensation Policy

Approved 9/14/2007

	•	 	Cash Compensation. For each full calendar year of participation on the Boards of
Directors or Managers, as the case may be (the “Boards”), and Committees thereof (the
“Committees”) of the Companies (as defined below), an Eligible Director (as defined below)
will receive One Hundred Thousand Dollars ($100,000) per year, payable quarterly in arrears.
Such cash compensation shall be paid to an Eligible Director as soon as reasonably practicable
after the close of the applicable period. An Eligible Director shall receive no separate
compensation for his or her service on the Committees.

	•	 	Equity Compensation or Investment Opportunities. At the discretion of the Board of
Directors of Varietal Distribution Holdings, LLC (or the Compensation Committee thereof), an
Eligible Director may be granted the right to receive or purchase equity interests in Varietal
Distribution Holdings, LLC in accordance with the Varietal Distribution Holdings, LLC 2007
Securities Purchase Plan, as amended from time to time, or such other plan or arrangement as
adopted or approved by the Board of Directors of Varietal Distribution Holdings, LLC (or the
Compensation Committee thereof) from time to time.

	•	 	Partial Year Service. In the event that an Eligible Director’s service on the
Boards or Committees commences or terminates after the beginning of a calendar year, such
Eligible Director will only be entitled to receive a pro rata of his or her annual
compensation under this Policy.

	•	 	Reimbursement of Expenses. All members of the Boards, other than MDP Directors,
shall be entitled to be reimbursed for reasonable travel, lodging and other expenses incurred
in connection with their service on the Boards and the Committees.

	•	 	Additional Definitions. For purposes of this Policy,

	 	(A)	 	“Companies” shall collectively refer to Varietal Distribution Holdings, LLC,
VWR Investors, Inc., VWR Funding, Inc. and VWR International, LLC.
	 
	 	(B)	 	“Eligible Director” shall mean a member of the Boards (i) who is neither an
officer nor an employee of any of the Companies, and (ii) if there is then in effect a
management services, consulting or other similar agreement between any of the Companies
and a holder of equity interests in Varietal Distribution Holdings, LLC (or an
affiliate of such a holder), who is not a Managing Director or Managing Partner of such
a holder (or an affiliate of such a holder).
	 
	 	(C)	 	“MDP Director” shall mean a member of the Boards who is an employee or
principal of Madison Dearborn Partners, LLC or an affiliate thereof.exv10w11

 

    EXHIBIT 10.11

 

    Employment
    Agreements

 

    The following officers are parties to employment agreements with
    K-Tron International, Inc.:

 

    Kevin C. Bowen

    Lukas Guenthardt

    Alan R. Sukoneckexv10w13

 

    EXHIBIT 10.13

 

    Indemnification
    Agreements

 

    The following current directors and officers are parties to
    indemnification agreements with
    K-Tron
    International, Inc.:

 

    Kevin C. Bowen

    Edward B. Cloues, II

    Norman Cohen

    Robert A. Engel

    Edward T. Hurd

    Lukas Guenthardt

    Richard J. Pinola

    Ronald R. Remick

    Alan R. SukoneckExhibit 10.12 to IntriCon Corporation, Form 10-K for fiscal year ended December 31, 2007

Exhibit 10.12

 

Summary Sheet for Director Fees 

 

In December 2007, the Compensation Committee determined that the fees payable to directors in 2008 would remain the same as those paid in 2007. Accordingly, for 2008:

 

	
             
 	
            •
 	
            the chairman of the Board will receive an annual retainer of $49,000, the chairman of the Audit Committee will receive an annual retainer of $34,000 and each non-employee member of the Board, other than the chairman of the Board and the chairman of the Audit Committee, will receive an annual retainer of $24,000, in each case payable in quarterly installments.
 

 

	
             
 	
            •
 	
            each non-employee member of the Board will received $1,000 for each Board meeting attended in person and $500 for each telephonic meeting of the Board attended, and $1,000 for each committee meeting attended in person and $500 for each telephonic meeting of the committee attended of which such non-employee member of the Board is a member; however, no fee will be payable for telephonic board and committee meetings that last less than 30 minutes.
 

 

Directors are eligible to receive awards pursuant to the 2006 Equity Incentive Plan. Options are automatically granted to each person who is re-elected or continues as a non-employee director at the annual meeting of shareholders of the Company as follows: the Chairman is granted options to purchase 12,000 shares of common stock  and the other non-employee directors each are granted options to purchase 10,000 shares of common stock.  The exercise price will be equal to the closing price of the common stock of the Company on the date of the annual meeting. The options will vest in three equal, annual installments beginning one year after the date of grant, except that they will become immediately exercisable upon a “change in control” as defined in the 2006 Equity Incentive Plan or upon the death or disability of the recipient, and will expire ten years after the date of grant, unless terminated
earlier by the terms of the option.

 

Directors are also eligible to participate in the Non-Employee Directors Stock Fee Election Program (the “Program”) under the Company’s 2006 Equity Incentive Plan. The Program gives each non-employee director the right under the Incentive Plan to elect to have some or all of his quarterly director fees paid in shares of the Company’s common stock rather than cash. The minimum amount that can be the subject of such election by a director is 25% of his quarterly director fees. The shares to be issued will be valued based on the last reported sale price of the common stock as reported on The Nasdaq Global Market on the first business day of each calendar quarter when quarterly director fees are paid. The number of shares that will be issued for any such quarterly director fees with respect to which an election is in effect will be equal to the amount of the election divided by the
applicable last sale price. No fractional shares will be issued and a director will receive cash in lieu of any fractional shares. That portion of the quarterly director fees for which no election is in effect will continue to be paid in cash. The shares so purchased will be deemed fully vested as of the quarterly payment date.

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