Document:

ex10.2

  
 LEASE held before witnesses that, in the end, subscribe, on the one hand the Ms. María TERESA LA SANTÍSIMA TRINIDAD of LA MORA COLLADO's, with Federal taxpayers registry number MOCT 361108-790, domiciled in Axayacatl no:118City of Sol Zapopan, Jal., who for the purposes of this contract is called the leasing company and moreover negotiation called the sports line PRINCE MEXICO, S.A. DE C.V., represented by LIC. SALVADOR López VILLASEÑOR, with federal taxpayer register number LOVS 770608-981, who called the LESSEE, both, of age, Mexicans working for hire, be bound personally and subjected to the tenor of the following:
 

 CLAUSES
 

 FIRST.-OBJECT-the leasing company shall deliver in lease to the LESSEE who receives by this concept, to its satisfaction, in the State in which it is located and with the inventory that is achieved in the tenth clause upstairs and two spaces for parking of the building marked with the number 3783 Street Quetzalcoatl of the Colonia city of the Sun of the municipality of Zapopan, Jalisco.
 

 SECOND.-PRICE-the LESSEE pay the leasing company for concept of forward monthly rent from the date in which begins to be valid this agreement the amount of $11,000.00 (eleven thousand PESOS 00/100 M.N.), more value added tax.
 

 The LESSEE AXAYÁCATL No. 118 of city of the Sun 45050 ZAPOPAN, JAL., pay the rent within first five calendar days following the date of payment. In the event that the tenant does not pay the rent at the place marked in the present contract, it will result to the leasing company requires the termination of the same.
 

 Originated the untimely payment, moratorium interest at 3% (three percent) monthly on outstanding balances, payable by the LESSEE is enough that liquid rents owed. Also when the LESSEE incurs in arrears in the payment of their income, this is happening within 5 days to which it relates this clause is obliged to pay to the LEASER, expenses of collection at a rate of $50.00 (fifty PESOS 00/100 M.N.), monthly without prejudice that the leasing company demand termination that proceed.
 

 THIRD-TERM-the term of this contract is 12 months and has its effect, from day 15 of June of 2012 to end on 15 may 2013 for that on this date the LESSEE returned to the lessor the possession of the estate object of the present contract. 
 

 If at the end of the contract the LESSEE continues to occupy the property, by reason or causes than, the lessor to pay monthly rent while the tenant does not vacate and return the leased property, with an increase 10% on income specified in this same contract percentage which increased the contract for the following year.
 

 To effect 2143 of the Civil Code of the State of Jalisco in the part that refers to that the LESSEE must pay rent waiver expressly mandated by the article that corresponds to the time that exceeds the contract pursuant to which paid.
 

 

 

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 If the occupation of the property after the expiration of the term of the contract is against the will of the rental, the renter, you pay in addition to the monthly rent augmented as indicated in paragraph foregoing, by concept of penalty, each month and even unemployment and return of 50% (fifty per cent) of income property established the above based on the No.1309 articles1310 and 1313 of the Civil Code of the State of Jalisco.
 

 FOURTH.-DESTINATION-the LESSEE spent the building a: offices, only leaving him strictly to change the object of the lease or give another end, or uses against morals and good customs.
 

 Where the tenant violates provisions of this clause, it will result in termination of this agreement, which shall be responsible in union of the guarantor.
 

 FIFTH.-EXTENSION-The LESSEE expressly waives the right of extension.
 

 SIXTH.-ADAPTATIONS, CONSTRUCTIONS, MODIFICATIONS AND IMPROVEMENTS.-is forbidden to the LESSEE do variation in the property without prior consent in writing of the LEASER shall be that carried out for the benefit of this to the term of the contract unless the LEASER prefer that you resume them to the current state. For that case, the leasing company requested written withdrawal of the adaptations, constructions or improvements to the LESSEE, in which bring a reasonable time to carry out the foregoing. In the event that the tenant damaged the property matter of leasing undertakes to remedy the malfunction however slight that is. For this purpose, the LESSEE, to benefit conceived by articles 2003 and 2004 of the code of the State of Jalisco, since any improvement, it is useful, necessary or waiver ornate, entitled to claim indemnity or compensation of any nature.
 

 SEVENTH.-will be borne by the LESSEE, repairs of electricity, plumbing, carpentry, in general all those that require the property during the time in which occupy it and according to the inventory contained in this contract.
 

 EIGHTH.-TRANSFER AND RIGHT OF PREFERENCE-you is expressly forbidden to the LESSEE sub - lease in whole or in part, the property matter of the lease and shall not be entitled to cede, or total or partial rights arising under this agreement in their favor.
 

 Also expressly disclaims the right of preference for both that relates the item 2026 of the Civil Code of the State of Jalisco, in the event that the owner want to alienate all or part of the same or any real or personal right that is. Breach of this clause will result in the termination of the contract.
 

 NINTH.-HIRING OF LIGHT, TELEPHONE, PAYMENT OF WATER.-the tenant, hired directly with the corresponding companies services of electricity and telephone, taking charge of the timely payment of the same and forced to surrender to the leasing company the settlements or proof of payment to the current to return the property. The consumption of water and gas will be paid by the LESSEE.
 

 

 

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 TENTH.-CLAIMS-the leasing company not liable in any case or circumstance for theft, fire, gives us caused by penetration of water or others that cause gives us and prejudices to the LESSEE, their dependents or visitors.-it is prohibited to the LESSEE, associates and subordinates save, conserve or have under any title in the farm area of this contract, explosive materials or filmables, on the understanding that be liable directly of any risks that may arise and that data farm, for this reason, even in the case of force majeure or fortuitous event. In case this due to some accident occur regardless of the leasing company requires termination of the contract may require payment of gives us and prejudices.
 

 TENTH FIRST.-GUARANTOR-FRANCIS ALEXANDER DUNCAN FORBES, who attends the celebration of this contract undertakes in favour of the leasing company as GUARANTOR of the LESSEE for compliance with each and every one of the obligations that contracts in this instrument and in particular those contained in the second clause, fourth, sixth, ninth and tenth sixth, lasting obligations enough day in which still completely unoccupied property is returned to the leasing company. Also the GUARANTOR has agreed to assume direct and several liability with the leasing company, which expressly disclaims the benefits of order exclusion and division referred to in articles 2143, 2425, 2426, 2433, and other relative of the Civil Code of the State of Jalisco.
 

 TENTH SECOND.-DEPOSIT.-the tenant delivers to the leasing company the amount of $11,000.00 (Eleven thousand PESOS 00/100 M.N.) for deposit in warranty, which will be refunded, without interest, the day still current in the payment of their rents, return the property vacated to the leasing company, in the same condition it was received and upon verification that the refund is made in accordance with the inventory contained in this document with the only deterioration caused by moderate use. Is prerequisite for the return of the deposit the tenant surrendering the LEASER receipts evidencing has no debts with the gas, water, phone and light the building, etc. 
 

 If it caused damage to the building or there are outstanding payments, the concepts above, the amount of the deposit will be used, without prejudice to demand the LESSEE and the GUARANTOR differences, resulting in favour of the leasing company.
 

 In case the time marked by the present contract are not met the amount marked as warranty passed in favour of the leasing company.
 

 TENTH THIRD.-only renewal of the (s) will have obligation (s) to this contract when making record expressly and in writing which is the new obligation which substantially alter and to replace the old, so verbal agreements, will be held for any reason nor before witnesses, nor any other form of violation ordered in this clause.
 

 TENTH FOURTH.-the HIRER expressly undertakes to serve the building moderately and form to the destination specified in this contract, and respecting the norms of coexistence that establish regulations corresponding municipal, in a way that it is forbidden to carry out activities which disturb the peace or quiet of his neighbors.
 

 

 

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 THENTH FIFTH.-INVENTORY.-
 

 1. Complete glasses
 2 Veneers on all doors with your keys.
 3. Complete electrical installation.
 4. Paint in good condition.
 5. 2 bathrooms with WC and sink in good condition
 6. Hydraulic facilities in good condition.
 7 Kitchenette with sink in good condition
 8 Doors and glass partitions, in perfect condition, (according to enclosed plan)
 

 TENTH SIXTH.-If the LESSEE gives rise to judicial proceedings involving lawyers, still in negotiations private, for lack of compliance with their obligations in the contract and violate the clauses that they form, in any sense, will be responsible for costs they cause and is obliged to cover the fees of all this.
 

 TENTH SEVENTH.-all the contracted parties expressly renounce the jurisdiction of his domicile and is submitted to the judges, laws and courts • of the city of Guadalajara, Jalisco, for any matter related to the interpretation and performance of this contract. 
 

 Is cause for termination of the contract, violation or breach of the parties agreed to in any of the clauses of this contract. 
 

 DECIMA EIGHTH.-"the parties ' established that on the assumption that "The LESSEE" fails to comply with the payment of the rent set forth above, you will incur in arrears, so it must pay in favour of “The landlord “an interest equivalent to 5% (five percent) monthly on outstanding balances."
 

 Also, "The parties", agree that "The landlord", is empowered to proceed in the suspension of services that includes "The LOCAL", such as electricity, gas, water, as well as to prevent the entry of "The LESSEE" or persons authorized by him, to the rented area described in this document, without the need for resolution authority, and for which purpose, the simple omission in the payment of the income paid for "The HIRER".
 

 TENTH NINTH.-TERMINATION-is expressly agreed and accepted "The parties", which will be cause for termination of this agreement, in addition to those identified as such at this document, failure or delay in the payment of monthly income, that's why "The landlord", will have the authority to unilaterally give by terminated this agreement, without the need for judicial declaration at the time that arises any breach that has to do with the purpose of this agreement, for which purpose with the sent to "The tenant" of a communiqué in which it finds the foregoing.
 

 TWENTY FIRST.-judicial and extrajudicial costs.-in the case of breach to this contract from "The "" Tenant", will give rise to judicial or extrajudicial formalities with the intervention of lawyers, even in private efforts, this will be responsible for the costs and expenses that may cause, forcing to cover the fees of the lawyer's "The landlord" at the rate of the minimum payment equivalent to 3 (three) months of current monthly income.
 

 

 

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 THIS AGREEMENT EXTENDS IN THE CITY OF GUADALAJARA, JALISCO THE DAY JUNE 15, 2012 AND THE CONTRACTING PARTIES EXPRESS THAT READ HAVE AND HAVE IMPOSED THE CONTENTS OF THIS AGREEMENT AND OF THE. RIGHTS AND OBLIGATIONS AS IN THE ACQUIRE AS OBLIGATIONS.
 

 THE LEASING COMPANY
 / S / Ms. Maria Teresa of the blessed
 MS. MARIA THERESA OF THE HOLY
 TRINITY OF THE MORA COLLADO
 RFC: 361108790 MOCT
 

 

 THE LESSEE-
 / S / Salvador López Villaseñor
 SPORTS LINE PRINCE OF MEXICO
 S.A. DE C.V.
 LDP 080425-IY8
 LIC. SALVADOR LÓPEZ VILLASEÑOR
 

 

 GUARANTOR
 / S / Mr. Francis Alexander Duncan Forbes
 MR. FRANCIS ALEXANDER DUNCAN FORBES
 

 

 

 

 

 

 

 5Exhibit 10.25

The Patheon Global Bonus Plan

Overview

The Patheon Global Bonus Plan (the “Bonus Plan”) is intended to reward Eligible Participants for their collective and individual contributions to the success of the Patheon Group during the applicable Plan Year, as measured through the achievement of defined targets and individual performance.  The “Patheon Group” means Patheon Inc. (hereinafter, “Patheon” or the “Company”), and any entity controlled by Patheon.

Key Plan Concepts

The Bonus Plan is designed to drive total Company performance and is aligned to the Corporate Strategy.  It is designed to reward corporate, regional, site and individual achievement when the required minimum thresholds of the Bonus Plan are achieved.  Patheon's overall success is the collective achievement of the businesses, sites, and Eligible Participants that form the Patheon Group. 

At sites where both Commercial and PDS businesses exist, achievement for both businesses will be combined to recognize the collaborative effort necessary for site and Company success.

The participant's individual performance score achieved through the Performance Management System provides a multiplier to be used for determining both merit increases and bonus awards.
 

Key Plan Objectives

The objectives of this Bonus Plan include:

		
	•
	Align performance with key measures of business success and Company strategy.

		
	•
	Reward for controllable and collective efforts.

		
	•
	Reward for efforts at the individual level based on principles of “Pay for Performance”.

		
	•
	Provide a competitive variable pay program.

		
	•
	Support the “One Patheon” initiative through a consistent, global program with a focus on the success of the Patheon Group as a whole.     

Plan Funding

The Bonus Plan is funded through the achievement of predetermined targets for the following components:

		
	•
	Corporate Adjusted EBITDA:  Earnings Before Income Taxes, Depreciation and Amortization, as described in the Patheon Annual Report.  This is further adjusted for foreign currency exchange differences compared to budgeted exchange rates and other one-time, non-operating gains or losses at the discretion of senior management.

		
	•
	Corporate Net Free Cash Flow:  Cash flow from operations minus capital spending 

		
	•
	Corporate Revenue

		
	•
	Region/Country Average Adjusted EBITDA 

		
	•
	Site Adjusted EBITDA

		
	•
	Site Operations (On-time Delivery, Right First Time)

Funding Model

All performance results are provided to Corporate Compensation by Corporate Finance for the purpose of calculating individual bonus awards.  Bonus payments are at the discretion of the Compensation and Human Resources Committee of Patheon Inc.

Component Thresholds

Each Corporate, Site or Region performance component of this Bonus Plan (each a “Component”) has a specified minimum and maximum achievement threshold as indicated below.  No payment or award under the Bonus Plan (“Bonus Plan Payout”) will be made for any component in which the minimum threshold is not achieved.  The maximum possible Bonus Plan Payout to any participant is 200% of target.

The range of Bonus Plan Payout under this Bonus Plan is 0% to 200% of target.  In order for an Eligible Participant to achieve the maximum level Bonus Plan Payout possible, (i) achievement of all objectives with respect to a specified Component must equal or exceed the specified Maximum for such Component and (ii) the Eligible Participant must receive an individual performance rating of at least “Meets Expectations”. 

Plan Groups:

Each Eligible Participant will be assigned one of the following Bonus Plan Groups, based on the focus of the responsibilities of their role within the Company:  

Individual Performance:

Each employee of the Patheon Group participates in the formal Performance Management System.  At the end of each year the employee and their manager discuss the employee's performance for the year and a performance rating and score are assigned.  This performance rating score is used in Patheon's Pay For Performance process (merit increase process and also as a multiplier in this Bonus Plan (the “Individual Performance Multiplier”)).

An Eligible Participant with a performance rating of Not Acceptable will not be eligible to receive a Bonus Plan award even if all minimum thresholds are met.  An Eligible Participant with a performance rating of Sometimes Meets Expectations may have any Bonus Plan award reduced for not achieving at least a performance rating of Meets Expectations.  Performance ratings are subject to calibration across functions, businesses and geographies in order to ensure consistency, fairness and equity.      

Sample Payout Calculations:

For the following examples, the assumptions used are:
		
	•
	Base salary of 50,000 x  Individual Bonus Target of 10% = Bonus Target of 5,000

		
	•
	All Components achieve at 90% = 50% payout

		
	•
	Individual performance rating of “meets expectations” = 100% Individual Performance Multiplier

Foreign Exchange Considerations

For the purposes of measuring financial performance to budget as required by any Component, local currencies will be used.  Budget currency exchange rates will be used for converting forecasted and actual results to U.S. Dollars. Therefore, a constant exchange rate will be used throughout the Plan Year. 

General Terms & Conditions of this Plan

Eligible Participants:  This Bonus Plan applies to nominated and approved, active full-time and part-time employees of the Patheon Group who are not eligible under another incentive plan and who are not on “fixed term contracts” or otherwise ineligible based on their employment agreement (“Eligible Participants”).  

Payout Eligibility:  Eligible Participants must also meet each of the following conditions to be eligible for a Bonus Plan Payout for the Performance Period applicable under this Bonus Plan:  

		
	1)
	must have initiated employment with a member of the Patheon Group prior to August 1st of the Plan Year (as defined below); and 

		
	2)
	be actively employed at the time of Bonus Plan Payout except in the following limited circumstances:

		
	a.
	Approved Leaves of Absence:  Eligible Participants on an approved leave of absence will remain eligible under this Bonus Plan only to the extent required by applicable law.  The Bonus Plan Payout, if any, will be based solely on prorated annual salary paid to the Eligible Participant during the Performance Period during which such Eligible Participant was not on any such leave of absence, except where applicable law requires otherwise.  The Bonus Plan Payout is payable only if the minimum Component thresholds and Individual Performance Multipliers are achieved and all other eligibility requirements are met.  Regarding the Individual Performance Multiplier, each Eligible Participant's achievement will be assessed on a case-by-case basis and in the sole discretion of Patheon (or the applicable member of the Patheon Group), based solely on personal performance up to the last day on which the Eligible Participant actually worked. Any such Bonus Plan Payouts made hereunder may be adjusted, giving consideration to (i) the effect of any such payout on the applicable Eligible Participant's eligibility for disability payments or related income (or the amount thereof), and (ii) other applicable local laws or regulations. Any such Bonus Plan Payouts made hereunder will only be made after the applicable Eligible Participant returns from any such approved leave of absence.

		
	b.
	Retirement:  For Bonus Plan purposes, “retirement” means the conclusion of employment with a member of the Patheon Group as may be defined in the specific retirement plan of the member of the Patheon Group that is the employer of the applicable Eligible Participant.   The Bonus Plan Payout, if any, for an Eligible Participant who retires during the Plan Year will be based solely on prorated annual salary paid to such Eligible Participant during the Plan Year.  The Bonus Plan Payout will be payable only if the required Component thresholds are met and the Bonus Plan Payout is approved by the Compensation and Human Resources Committee.  Regarding the Individual Performance Multiplier, each Eligible Participant's achievement will be assessed on an individual basis and in the sole discretion of Patheon (or the applicable member of the Patheon Group), based solely on personal performance up to the last day on which the Eligible Participant actually worked.  Any Bonus Plan Payouts hereunder will made at the same time that Bonus Plan Payouts for actively employed Eligible Participants are made (i.e., such Bonus Plan Payouts will not be accelerated).  

		
	c.
	Death and Disability:    If the employment of an Eligible Participant is terminated because of such Eligible Participant's death or disability, the Bonus Plan Payout, if any, will be calculated based on Eligible Earnings up to the last day on which the Eligible Participant actually worked. The Bonus Plan Payout will be payable only if the required Component thresholds are met and the Bonus Plan Payout is approved by the Compensation and Human Resources Committee.  Regarding the Individual Performance Multiplier, each Eligible Participant's achievement will be assessed on an individual basis and in the sole discretion of Patheon (or the applicable member of the Patheon Group), based solely on personal performance up to the last day on which the Eligible Participant actually worked.  Any such Bonus Plan Payouts made hereunder may be adjusted or withheld, giving consideration (i) to the effect of any such Bonus Plan Payout on the applicable Eligible Participant's eligibility for disability payments or related income (or the amount thereof), and (ii) other applicable local laws or regulations.  Any Bonus Plan Payouts hereunder will be made at the same time that Bonus Plan Payouts for actively employed Eligible Participants are made (i.e., such Bonus Plan Payouts will not be accelerated). 

		
	d.
	Not-for-Cause Involuntary Termination: An Eligible Participant who is terminated on a not-for-cause and involuntary basis is eligible to receive a Bonus Plan Payout, based on prorated Eligible Earnings for the current Performance Period only if (i) the Eligible Participant continues to be within his/her termination period on the date of Bonus Plan Payout; (ii) the required Component thresholds are met; and (iii) and the payout is approved by the Compensation and Human Resources Committee.  Regarding the Individual Performance Multiplier, each Eligible Participant's achievement will be assessed on an individual basis and in the sole discretion of Patheon (or the applicable member of the Patheon Group), based solely on personal performance up to the last day on which the Eligible Participant actually worked.  With respect to any severance or other termination-related payments made to an Eligible Participant, Eligible Earnings will include only base pay earned through the last day worked.    Any Bonus Plan Payouts hereunder will made at the same time that Bonus Plan Payouts for actively employed Eligible Participants are made (i.e., such Bonus Plan Payouts will not be accelerated). 

		
	e.
	Applicable Local Law Applies.  The Bonus Plan Payout Eligibility requirement of active employment at the time the Bonus Plan Payout is made is subject to applicable local law which may prohibit such eligibility requirements or otherwise limit their application.  Patheon, in its sole discretion, may alter the Bonus Plan Payout Eligibility requirement to conform to applicable local law.

  
NOTE:  Any Eligible Participant who is terminated for cause, as determined by his/her employer in its sole discretion, or who voluntarily leaves employment (other than via retirement or as a result of disability), or provides notice thereof, prior to the date of the Bonus Plan Payout, is not eligible for a Bonus Plan Payout under any circumstance (even if the Eligible Participant is an active employee at the time of such Bonus Plan Payout).

Performance Period / Plan Year:  The performance period runs concurrent with the fiscal year; currently November 1st thru October 31st (the “Performance Period” or the “Plan Year”)  

Eligible Earnings:  For the purpose of the calculation of any Bonus Plan Payouts, eligible earnings are defined as the amount of base pay which has been paid to the employee according to payroll records during the performance period, excluding fringe benefits, cash allowances, disability, worker's compensation, vacation/paid time off and all other types of pay not directly related to base pay, unless applicable law requires that other items of income be included for purpose of calculating an award in a discretionary bonus plan (“Eligible Earnings”).  Eligible earnings for new hires during the Plan Year are prorated from the date of hire for the purpose of calculating bonus payable.  Eligible earnings for part time employees are calculated using the actual base salary amounts paid to the employee during the plan year as reported by payroll.

Individual Bonus Target:  Means the percentage of Eligible Earnings, or the specified dollar value (or value in other applicable currency) of the bonus target as may be:  (i) contained in the terms of an Eligible Participant's written employment agreement; or (ii) approved from time to time by Corporate Human Resources in writing for specified employees or employee grade levels; or (iii) approved from time to time by the Compensation and Human Resources Committee, as may be applicable in each case.     

Changes in Individual Bonus Target:  If the Individual Bonus Target for an Eligible Participant changes during a Plan Year, then generally the Individual Bonus Target in effect as of as of October 31st of the Plan Year will be used in the calculation of the Bonus Plan Payout.  However, Patheon reserves the right to prorate the Bonus Plan Payout accordingly if an Eligible Participant receives an increase or decrease in Individual Bonus Target during the second (2nd) half of the Plan Year (i.e., from May 1st thru October 31st).       

Transfers:  Annual bonus calculations for Eligible Participants who transfer between sites or businesses during the Plan Year will be based on the Components, levels and other terms and conditions which apply to the site or business to which they are assigned as of October 31st of the relevant Plan Year.  Patheon reserves the right to pro-rate the Bonus Plan Payout if an Eligible Participant transfers during the second half of the Plan Year (i.e., from May 1st thru October 31st).  
  
Communication of Results:  Results to be used in the calculation of a Bonus Plan payout are provided by Corporate Finance.  All such results, the determination of achievement of all Component thresholds, and the respective Bonus Plan Payouts are subject to approval by the Compensation and Human Resources Committee.  To minimize confusion, no one shall communicate any results as it relates to the Bonus Plan or Bonus Plan Payout amounts until authorized to do so by Corporate HR and/or Corporate Finance.   

Governance:  This Bonus Plan is developed and administered by Corporate HR.  This Bonus Plan is governed by the rules specified within this document and is subject to applicable law.  

Exceptions:  Any exceptions to this Bonus Plan must be made in writing and approved by Corporate HR.  

Timing of Payment:  If a payment is due under this Bonus Plan's guidelines as set forth herein, the payment will be made no later than two and one-half (2 1/2) months after the end of the calendar year during which Performance Period ends; provided, however, that in the case of a payment due under Sections 2b through 2d above, the payment shall be made no later than two and one-half (2 1⁄2) months after the end of the Performance Period (i.e. by January 15, 2014 for the Performance Period ending on October 31, 2013)   

Disclaimer:  Patheon reserves the right to amend or discontinue this Bonus Plan at any time, with or without notice. 

Approved by the Compensation and Human Resources Committee
of the Board of Directors of Patheon Inc.
December 13, 2012

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