Document:

Exhibit 10.13

 Exhibit 10.13 

 
  

VALLEY INCENTIVE PLAN 

2009 PROGRAM 
  

 
  

 VALLEY INCENTIVE PLAN 

2009 PROGRAM 
  

	1.	PURPOSE 

 The
Naugatuck Valley Savings and Loan Valley Incentive Plan (“VIP”) is intended to provide a cash compensation program that is competitive in level and form, to reward officers at the level of assistant vice president and above for achieving
budgeted profits and for outstanding performance in furthering the goals of the Bank. 
  

	2.	ADMINISTRATION 

The Plan is administered by the Board of Directors and Board interpretation and application of the provisions of the Plan shall be final
and binding on all concerned. 
  

	3.	ELIGIBILITY 

Participant eligibility is expressed in terms of organizational level, position title or a combination of these factors. Individuals may
be designated as participants for a partial year to reflect a new hire or promotion, but normally not for a period of less than three months. 

Participants are those individuals who are in the employ of the Bank on December 31 of a given year. Any Investment Executives who
are participants in a commission compensation plan are not eligible to participate in the VIP. 
 Eligibility and pro rata share
of the annual award program is determined as follows: 
  

			
	
1st
Quarter hire:
	  	75% share
	
2nd Quarter
 hire:
	  	50% share
	
3rd Quarter
 hire:
	  	25% share
	
4th Quarter
 hire:
	  	0% share
		
	
1st Quarter
 Promotion to AVP+
	  	75% share
	
2nd Quarter
 Promotion to AVP+
	  	50% share
	
3rd Quarter
 promotion to AVP+
	  	25% share
	
4th Quarter
 Promotion to AVP+
	  	0% share

 In the event of retirement the
annual award program is determined as follows: 
  

			
	
1st Quarter
 Retirement
	  	0% share
	
2nd Quarter
 Retirement
	  	25% share
	
3rd Quarter
 Retirement
	  	50% share
	
4th Quarter
 Retirement
	  	75% share

	4.	AWARD DETERMINANTS 

Awards are normally determined by operating results and individual award targets. A beginning share amount is determined in accordance
with the award grid. To trigger the grid, the Bank must meet 89% of goal for net income after taxes (NIAT) as approved by the Board of Directors in the 2009 Annual Budget. 

 

	5.	INDIVIDUAL AWARD TARGETS 

Participants are assigned an individual award target which, with salary, is intended to provide a competitive cash compensation level.
This target is expressed as a percentage of salary as of the last day of the applicable Plan year, and an individual’s maximum award is 200% of the target award. 
  

	6.	CORPORATE/INDIVIDUAL PERFORMANCE MIX 

Each participant’s individual award target opportunity is divided between a corporate amount and an individual performance amount.
The corporate amount depends on achieving operating objectives and is paid as earned. The individual performance amount is paid depending on achievement of individual goals set at the beginning of the year. 

 

	7.	OPERATING RESULTS 

Under the Plan, operating objectives are set each year with threshold, target and maximum levels. No awards are accrued if Plan operating
results are below the threshold. Target awards of plan participants are accrued when operating results are at goal and maximum individual awards are accrued at the outstanding operating level. Operating objectives may be expressed as return on
equity, assets or other investment measure, or in any form the Board may determine. 
  

	8.	MAXIMUM AMOUNT PAYABLE 

The combination of participants, operating results against objectives, and participant award target and maximum, determine a maximum
amount payable. The corporate portion of this maximum is paid based on achievement against operating goal; the individual performance portion may or may not be paid depending on achievements of participants against their annual performance goals.

  

	9.	AWARD FORM 

Awards to participants for any year consist of cash payments determined as of the end of each fiscal year. 

	10.	SPECIAL AWARDS 

 A
special fund may be set aside each year. Such awards may be made to recognize an outstanding contribution by any individual employee up to the Assistant Vice President Level. 

 

	11.	MINIMUM INDIVIDUAL PERFORMANCE REQUIRED 

In no event may an individual be paid an award with a performance appraisal level below “average.” 

 

	12.	TERMINATION 

 A
participant must be an employee on the last day of the fiscal year to be entitled to payment for that year. 
 In case of
termination for cause at any time, a participant does not have a right to payment under a Plan. 
 In case of termination
because of death or disability, a participant or a participant’s estate is paid a pro rata portion of any amount due for the full fiscal year, calculated at the end of the fiscal year. 

In case of termination at the Bank’s request, the Board determines what amount, if any, will be paid to participant. 

 

	13.	EMPLOYMENT RIGHTS 

The adoption of a Plan does not alone confer upon any participant any right to continued employment with Naugatuck Valley Savings and
Loan, nor does it interfere in any way with the right of the Bank to terminate the employment of any of its employees at any time. 
  

	14.	AMENDMENT AND CHANGES 

The Board may at any time discontinue the granting of awards under the Plan, and may at any time amend the Plan for any purpose.

 At the beginning of each year, any or all factors in a Plan may be changed, including eligibility, award targets,
formula/individual award mix, and operating goals and factors. The Board may adjust Plan formulas or factors during the year to reflect extraordinary gains, losses or other factors, and their decisions are final and binding. Participants do not
receive awards from the Plan if payments reduce after-tax income below zero. 

 EXHIBIT A 

ELIGIBILITY AND AWARD TARGETS 

2009 PLAN YEAR 
  

										
	 Participant
	  	Threshold	 	 	Target
% of Salary	 	 	Maximum
% of Salary	 
				
	 President, CEO
	  	7.50	% 	 	10.00	% 	 	30.00	% 
				
	 EVP, Retail
	  	6.00	% 	 	8.00	% 	 	20.00	% 
				
	 SVP, CFO
	  	6.00	% 	 	8.00	% 	 	20.00	% 
				
	 SVP, Bus. Dev.
	  	6.00	% 	 	8.00	% 	 	20.00	% 
				
	 SVP, Operations
	  	6.00	% 	 	8.00	% 	 	20.00	% 
				
	 SVP, Lending
	  	6.00	% 	 	8.00	% 	 	20.00	% 
				
	 VP’s & Corporate Sec’y
	  	5.25	% 	 	7.00	% 	 	15.00	% 
				
	 AVP’s
	  	5.25	% 	 	5.00	% 	 	10.00	%MabCure Inc.: Exhibit 10.1 - Filed by newsfilecorp.com

Exhibit 10.1  

AMENDMENT TO PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT
(“Amendment”) 

THIS AMENDMENT, effective as of June 27, 2010, is
entered into by and between MabCure Inc., a corporation
incorporated under the laws of Nevada ("MabCure"), and Paramount
Trading Company, a corporation incorporated under the laws of Nevis (the
"Investor"). 

WHEREAS, MabCure and the Investor entered into a Private
Placement Subscription Agreement dated as of June 27, 2008 (the
“Agreement”); and 

WHEREAS, pursuant to the Agreement MabCure issued to the
Investor warrants with a term of one year to purchase 1,300,000 shares of
restricted common stock of the Company at an exercise price $1.25 per share (the
“One-Year Warrants”) and warrants with a term of two years to purchase
1,300,000 shares of restricted common stock of the Company at an exercise price
$1.25 per share (the “Two-Year Warrants”); and

WHEREAS, MabCure and the Investor wish to extend the
term of the Two-Year Warrants until June 27, 2012, and reset the exercise price
of the Two-Year Warrants to US$0.50 per share to reflect the current market
price of MabCure’s shares of common stock.

NOW THEREFORE, in consideration of the terms and
conditions herein contained and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows: 

1. 

All capitalized terms used in this Amendment and not otherwise
defined herein shall have the meanings ascribed to such terms in the
Agreement.

2. 

Section 1.2 of the Agreement shall be amended such that the
term of the Two-Year Warrants shall be extended until June 27, 2012 and the
exercise price for the Two-Year Warrants shall be US$0.50 per share.

3. 

Exhibit B of the Agreement (the Two Year Warrants Certificate)
shall be amended such that the “Expiry Date” in the exhibit shall be June 27,
2012, and the “Exercise Price” in the exhibit shall be US$0.50.

4. 

Except as specifically amended by this Amendment, the Agreement
shall remain in full force and effect. In the event of any inconsistency or
conflict between the Agreement and this Amendment, the terms and conditions of
this Amendment shall govern and control. 

5. 

This Amendment may be executed in counterparts, each of which
when executed and delivered shall be deemed to be an original, and all of which
when taken together shall constitute but one and the same instrument. 

IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be executed by their duly authorized representatives. 

	MabCure Inc. 	 	Paramount Trading Company 	 
	 	 	 	 
	
    __________________________________	 	
    __________________________________	 
	 	 	 	 
	Name: _____________________________	 	Name:
_____________________________	 
	 	 	 	 
	Title:   _____________________________	 	Title:  
      _____________________________	 
	 	 	 	 
	Date:   _____________________________	 	Date:  
      _____________________________China Power Technology, Inc.: Exhibit 10.1 - Filed by newsfilecorp.com

Exhibit 10.1

AMENDMENT NUMBER 1 TO SECURITIES PURCHASE AGREEMENT

     THIS AMENDMENT NUMBER 1 TO
SECURITIES PURCHASE AGREEMENT, dated as of September 19, 2010 (this
“Amendment”), is entered into by and among China Power Technology, Inc.,
a Nevada corporation (collectively with its predecessors, the “Company”)
and the Investors. Capitalized terms used herein but not otherwise defined
herein shall have the respective meanings set forth in the Securities Purchase
Agreement (as defined below). 

BACKGROUND 

     The Company and the Investors are
parties to that certain Securities Purchase Agreement, dated as of June 16, 2010
(the “Securities Purchase Agreement”). The Investors understand that
certain underwriters (the “Underwriters”) propose to enter into an
underwriting agreement with the Company providing for the public offering (the
“Public Offering”) by the Company of shares of Common Stock of the
Company. To induce the Underwriters that may participate in the Public Offering
to continue their efforts in connection with the Public Offering, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties to this Amendment wish to amend certain provisions of
the Securities Purchase Agreement as set forth in this Amendment.

     Section 6.4 of the Securities
Purchase Agreement provides that no provisions of the Securities Purchase
Agreement may be waived or amended except in a written instrument signed by the
Company and the Requisite Holders. This Amendment constitutes a written
agreement signed by the necessary parties in order to effectuate the amendments
to the Securities Purchase Agreement specified below.

     NOW, THEREFORE, in consideration
of the foregoing and the respective covenants and agreements set forth herein,
the parties hereto agree as follows: 

     Section 1. Section 4.15 is
hereby deleted in its entirety and the obligations arising thereunder are hereby
rescinded and of no further force or effect; and in its place the following new
Section 4.15 is hereby inserted: 

     “Section 4.15. [Reserved].” 

     Section 2. Except as
amended hereby, the Securities Purchase Agreement shall remain in full force and
effect.

     Section 3. This Amendment
may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same
instrument. 

1 

     IN WITNESS WHEREOF, the parties
hereto have caused this Amendment to be duly executed by their respective
authorized signatories as of the date first indicated above. 

COMPANY: 

CHINA POWER TECHNOLOGY,
INC.

By: /s/ Honghai
Zhang           
 
Name: Honghai Zhang 
Title: Chief Executive Officer 

REQUISITE HOLDERS: 

SUN FOREVER LIMITED

By: /s/ Gang
Wang                 
 
Name: Gang Wang 
Title: Managing Partner 

 

Signature Page to the Amendment to Securities Purchase
Agreement

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