Document:

2005 Performance Objective under 2002 Bonus Plan

 EXHIBIT 10.1 
  

			
	AMO BONUS PLAN	 	

  
 2005 PERFORMANCE
OBJECTIVE 
  
 2005 PERFORMANCE OBJECTIVE 
  
 The 2005 performance objective for the Bonus Plan is 85% based on Operating Income and 15%
based on Revenue for the full year of AMO performance. “Operating Income” is defined as sales less cost of goods sold and all basic operating expenses of the business. “Revenue” is defined as the total dollar payment for goods
and services that are credited to the income statement over the measurement period. 
  
 The bonus is funded when AMO achieves the threshold level of Operating Income and Revenue performance as indicated below. If the Operating Income and Revenue funding trigger thresholds are not met, no bonuses will be paid out. 

 
 FUNDING TRIGGER ELEMENTS 
 85% - OPERATING INCOME 
  

					
	 PERFORMANCE LEVEL

	  	2005 OP
INCOME
RANGE

	  	BONUS
AWARD AS A
% OF TARGET

	 Below Threshold
	  	-44.56 mm	  	0%
	 Threshold
	  	-44.55 mm	  	40%
	 	  	Target	  	100%
	 Maximum
	  	+22.28 mm	  	150%

  
 If actual Operating Income results
fall between the performance levels shown above, the portion of bonus will be prorated accordingly. 
  
 15% - REVENUE 
  

					
	 PERFORMANCE LEVEL

	  	2005
REVENUE
RANGE

	  	 BONUS
AWARD AS A
 % OF TARGET

	 Below Threshold
	  	-45.87 mm	  	0%
	 Threshold
	  	-45.86 mm	  	50%
	 	  	Target	  	100%
	 Maximum
	  	+117.76 mm	  	150%

  
 If actual Revenue results fall between
the performance levels shown above, the portion of bonus will be prorated accordingly. 

 BONUS POOL FUNDING 
  
 At the end of the year, the President and Chief Executive Officer of Advanced Medical Optics, Inc. may recommend adjustments to the bonus funding levels to the
Organization, Compensation and Corporate Governance Committee (the “Committee”) after consideration of key operating results. When calculating Operating Income and Revenue performance for purposes of this Plan, the Committee has the
discretion to include or exclude any or all of the following items: 
  

	•	 	Extraordinary, unusual or non-recurring items 

  

	•	 	Effects of accounting changes 

  

	•	 	Effects of financing activities 

  

	•	 	Expenses for restructuring or productivity initiatives 

  

	•	 	Other non-operating items 

  

	•	 	Spending for acquisitions 

  

	•	 	Effects of divestitures 

  
 BONUS POOL DIFFERENTIATION BY BUSINESS UNIT/FUNCTION 
  
 The target bonus pool is determined by performance against Operating Income (85%) and Revenue (15%). The factors below will be considered for allocation of region/function bonus pools: 
  
 CORPORATE 
  

	Corporate	Operating Income (60%) 

  

	Corporate	Revenue (40%) 

  
 REGIONS & GLOBAL MARKETING 
  

	Region	Operating Income (40%) 

  

	Region	Revenue (60%) 

  
 RESEARCH & DEVELOPMENT 
  

	•	 	Corporate Operating Income (20%) 

  

	•	 	Corporate Revenue (20%) 

  

	•	 	Achievement of R & D and Business Development Milestones (60%) 

  
 WORLD WIDE MANUFACTURING 
  

	•	 	Corporate Operating Income (20%) 

  

	•	 	Corporate Revenue (20%) 

  

	•	 	Achievement of World Wide Manufacturing Milestones (60%) 

 INDIVIDUAL BONUS AWARD CALCULATION 
  
 Target bonus awards are expressed as a percentage of the participant’s year-end annualized base salary. The target percentages for
managers other than corporate officers vary by salary grade: 
  

			
	 SALARY GRADE

	  	TARGET BONUS

	    6E *
	  	 10%

	 7E
	  	15%
	 8E
	  	20%
	 9E
	  	25%
	 10E
	  	30%
	 11E
	  	35%

  
 Target percentages for corporate
officers are individually established by the Committee. 
  
 A participant’s
actual bonus award may vary above or below the targeted level based on the supervisor’s evaluation of his or her performance in relation to the predetermined MBOs. Each participant may receive from 0% to 150% of his or her target bonus amount.
However, the total of all bonus awards given within each region/function must total no more than 100% of the total bonus pool dollars allocated to that region/function. 
  

	*	U.S. and Puerto Rico employees only.Amendment to Restated and Amended Employment Agreement

 Exhibit 10.1 
  
 Amendment To Restated and Amended Employment Agreement 
  
 THIS AMENDMENT (this “Amendment”) is made as of April 26, 2005 (the “Effective
Date”) by and between USI SERVICES CORP., formerly known as USI Insurance Services Corp., (the “Company”) and DAVID L. ESLICK (“Executive”) and amends that certain Restated and Amended Employment Agreement
dated as of January 22, 2002 by and between the Company and the Executive (the “Agreement”) to the extent and in the manner herein provided. Capitalized terms used but not otherwise defined in this Amendment shall have the meanings
ascribed to them in the Agreement. 
  
 WHEREAS, the Company and
Executive are parties to the Agreement; 
  
 WHEREAS, Section 11 of
the Agreement provides that all amendments to the Agreement must be in writing; 
  
 WHEREAS, the Company and Executive wish to amend the Agreement as set forth in this Amendment to impose certain non-competition obligations, to modify the definition of “good reason,” and to modify the
governing law and notice provisions of the Agreement; and 
  
 WHEREAS, in consideration for Executive’s execution of this Amendment, the Company hereby agrees to pay Executive certain consideration as set forth herein. 
  
 NOW THEREFORE, in consideration of these premises and the mutual promises contained herein, and intending to be legally
bound hereby, the parties hereto agree as follows and agree to amend the Agreement in the manner hereinafter provided: 
  
 1. Amendment of Section 7.2 – Non-Competition. Section 7.2 of the Agreement is hereby amended by replacing the first sentence of Section 7.2
in its entirety with the following sentence: 
  
 “Executive
further agrees that, throughout the Term hereof and thereafter until one (1) year after the effective date on which Executive’s employment with USI or the Company, or their respective successors in interest, terminates, Executive will refrain
from carrying on a business, directly or indirectly, which provides any USI Business, except in the normal course of business on behalf of any USI Company.” 
  
 2. Amendment of Section 8.3 – Termination by Executive for Good Reason. Section 8.3 of the Agreement is hereby
amended by deleting subsection (iii) of the first sentence of Section 8.3 in its entirety and by re-designating subsection (iv) of the first sentence of Section 8.3 as subsection (iii). 

 3. Amendment of Section 14 – Governing Law. Section 14 of the Agreement is hereby amended and
restated in its entirety as follows: 
  
 “14. GOVERNING LAW.
THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW PROVISION OR RULE (WHETHER OF THE STATE OF NEW YORK OR ANY OTHER JURISDICTION) THAT WOULD
CAUSE THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION OTHER THAN THE STATE OF NEW YORK.” 
  
 4. Amendment of Section 12.1 – Notices. The addresses set forth in the notice provision of Section 12.1 of the Agreement for the Company and
the Executive are hereby amended as follows: 
  
 “(a) If to
the Company, at 
  
 USI Services Corp.

 555 Pleasantville Road, Suite 160 South 
 Briarcliff Manor, NY 10510 
 Attn: General Counsel 
 Telephone: (914) 749-8506 
 Facsimile: (610) 537-4506 
  
 (b) If to Executive, at 
 David L. Eslick 
 4 Arrow Tree Drive 
 Briarcliff Manor, NY 10510” 
  
 5. Consideration. In consideration for Executive’s execution of this Amendment and agreement to the terms set forth herein, the Company hereby
agrees to (i) pay Executive $250,000, less applicable tax withholding, in cash within fourteen (14) business days of the Effective Date; and (ii) within ten (10) business days of the Effective Date, cause its parent corporation, U.S.I. Holdings
Corporation (“USI”), to grant a number of shares of restricted stock to Executive pursuant to the USI 2002 Equity Incentive Plan (the “EIP”) with a fair market value of $250,000, determined based upon the closing
price of USI’s common stock on the Nasdaq Stock Market on the Effective Date, (the “Award”), which Award shall vest as follows: one third of the Award shall vest on the third anniversary of the Effective Date; an additional one
third shall vest on each of the fourth and fifth anniversaries of the Effective Date, subject, in each case, to Executive’s continued Service (as defined in the EIP) through the applicable vesting date. Notwithstanding the foregoing, the Award
shall become immediately vested if the Agreement is terminated for any reason other than a termination by the Executive pursuant to Section 8.4 of the Agreement. The Award shall otherwise be subject to the terms and conditions of the EIP.

  

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 6. No Further Amendment. Except as otherwise amended by this Amendment, all provisions of the
Agreement, including, without limitation, provisions relating to governing law as amended above, shall remain in full force and effect and shall apply to this Amendment (unless this Amendment specifically amends a particular provision of the
Agreement) and the Agreement and this Amendment shall be construed together and considered one and the same agreement. 
  
 7. Counterparts. This Amendment may be executed in any number of counterparts and when so executed, all of such counterparts shall constitute a
single instrument binding upon all parties notwithstanding the fact that all parties are not signatory to the original or to the same counterpart. Any and all counterparts may be executed by facsimile. 
  
 8. Authorization. This Amendment in its entirety has been negotiated
and authorized for execution by the Compensation Committee of the USI Board of Directors. 
  

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 IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly authorized
representative, and Executive has executed this Agreement, in each case on the date first above written. 
  

			
	USI SERVICES CORP.
		
	By:	 	 /s/    Ernest Newborn

	Name & Title:	 	 Ernest Newborn

	 	 	 SVP and General Counsel

	
	DAVID L. ESLICK
	  
 /s/    David L. Eslick

  

			
	Approved and Authorized:
		
	By:	 	 /s/    Tom Hayes

	Name & Title:	 	Chairman of the
	 	 	USI Compensation Committee

  

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