Document:

EX-10.1

 Exhibit 10.1 

SUNESIS PHARMACEUTICALS, INC. 

2016 BONUS PROGRAM 
 Overview 

The 2016 Bonus Program (the “Program”) of Sunesis Pharmaceuticals, Inc. (the “Company”) is effective as of
January 1, 2016 (the “Effective Date”). The Program is designed to motivate, retain and reward Company employees through a combination of corporate and individual performance-based incentive compensation objectives from
the Effective Date through December 31, 2016 (the “Performance Period”). Individuals employed by the Company during the Performance Period who are designated for participation by the Compensation Committee of the
Company’s Board of Directors (the “Committee”) and who are employed by the Company on the Payment Date (as defined below) (each a “Participant”) shall be eligible to earn and receive a bonus under
the Program. The Program is administered by the Committee, and any decisions made in good faith by the Committee shall be final and binding on all Participants. 

The Program is designed to award a bonus payment (each a “Bonus”) for performance during the Performance Period to Participants based
in part on the level of achievement (1) by the Company of certain Company-wide objectives (the “Corporate Objectives”) and (2) by the Participant of certain individual performance objectives, which may include
certain department, group and/or team objectives applicable to such Participant (the “Individual Objectives”). 
 Program
Objectives 
 The Program is intended to encourage and reward the following: 
  

	 	•	 	the achievement of Corporate Objectives; 

  

	 	•	 	the achievement of Individual Objectives; and 

  

	 	•	 	the recognition of individual contributions and efforts. 

 Determination of Program Objectives 

The Corporate Objectives shall be approved by the Board of Directors. Each Corporate Objective category shall be assigned a relative weighting by the Board of
Directors, reflecting its importance to the achievement of the Company’s key results during the Performance Period; provided, however, that the Board of Directors or the Committee may adjust the weighting of the Corporate Objectives in
its sole discretion at any time. 
 The Individual Objectives shall be set as follows: 

 

	 	•	 	For the Chief Executive Officer, the Individual Objectives shall be set by the Committee; 

  

	 	•	 	For Participants who are executive officers (as that term is defined under Section 16 of the Securities Exchange Act of 1934, as amended, and Rule 16a-1 thereunder), other than the Chief Executive Officer
(collectively, the “ Executive Participants”), the Individual Objectives shall be set by the Committee based upon recommendations made by the Chief Executive Officer; and 

 

	 	•	 	For non-Executive Participants (collectively, the “Non-Executive Participants”), the Individual Objectives shall be set by each Non-Executive Participant’s immediate supervisor, with input
from team leaders, group and department heads and others, as appropriate. 

 Program Bonus Targets 

Under the Program, each Participant is eligible to earn a Bonus in an amount up to a specified percentage of his or her annual base salary that is earned in
2016, with such percentage based in part upon the position such Participant 

 
holds with the Company (the “Bonus Target”). Under the Program, the Bonus Targets range from 30% to 55% of a Participant’s 2016 base salary for Vice President level
employees and above and from 5% to 22.5% of a Participant’s 2016 base salary for other Participants. 
 Determination of Bonus Payments 

The Company will determine the level of achievement of Corporate Objectives and Individual Objectives shortly after the end of the Performance Period, as
follows: 
 Determination of Level of Achievement of Corporate Objectives 

The Committee shall determine, after receiving and considering any analyses and recommendations from management, the degree to which the Corporate Objectives
have been met, expressed as a percentage of the Corporate Objectives achieved, taking into consideration the weighting assigned to each Corporate Objective. Based on the percentage of Corporate Objectives achieved, the Committee will then determine
the final aggregate bonus pool under the Program for all Participants (the “Bonus Pool”). 
 Adjustment of Bonus Targets based on
Level of Achievement of Corporate Objectives 
 Bonus Target levels for Participants will be adjusted based on the level of achievement of Corporate
Objectives as determined by the Committee. For example, if the Committee determines that only 80% of the Program’s Corporate Objectives are achieved, each Participant’s Bonus Target will be decreased by 20% (in other words, a Participant
with a 10% Bonus Target will have that Bonus Target reduced to 8%, or 80% of 10%). The Committee also has the right, in its sole discretion, to adjust the Bonus Target level for any Participant upward in the event of over-achievement of the
Corporate Objectives as determined by the Committee. Such adjusted Bonus Targets are referred to as the “Adjusted Bonus Targets.” 

Determination of Bonus Payments for Individual Participants 

The actual Bonus earned by a Participant is based on the Participant’s: (i) level of contribution to the achievement of the Corporate Objectives;
(ii) level of achievement by the Participant against his or her Individual Objectives; and (iii) Adjusted Bonus Target (or, if the Bonus Target was not adjusted, the original Bonus Target). There is no set formula for determining the
amount of the Bonus earned based on the achievement of Individual Objectives or Corporate Objectives. Rather, the Committee shall exercise its discretion in determining the amount of the Bonus actually earned, which determination will be final and
binding. In making its determination, the Committee shall consider the following: 
  

	 	•	 	For the Chief Executive Officer, the Committee’s own evaluation of his achievements; 

  

	 	•	 	For Executive Participants, the recommendations made by the Chief Executive Officer; and 

  

	 	•	 	For Non-Executive Participants, the recommendations made by members of an executive committee designated by the Committee with input from team leaders, group and department heads and supervisors, as appropriate.

 In determining the actual Bonus earned, the Committee may also take into account the achievement of publicly announced targets, clinical
milestones, strategic goals, cross-functional teamwork and collaboration, and unforeseen changes in the economy and/or geopolitical climate. 
 Timing of
Bonus Payments Under the Program 
 Payment of Bonuses earned under the Program is expected to occur in the first quarter of 2017 following the
conclusion of the Performance Period on such date as determined by the Committee in its sole discretion (the “Payment Date”). Any Bonuses earned by Participants will be paid in cash; provided, that the Committee may,
in its sole discretion, pay all or any portion of a Bonus earned by Participants in shares of Company common stock granted under the Company’s 2011 Equity Incentive Plan. A Participant must be employed by the Company on the Payment Date in
order to earn any Bonus. In the event that a Participant terminates employment or service with the Company for any reason prior to the Payment Date, the Participant will forfeit his or her right to payment of any Bonus. 

 Miscellaneous Provisions 

Participation in the Program shall not alter in any way the at-will nature of the Company’s employment of a Participant, and such employment may be
terminated at any time for any reason, with or without cause and with or without prior notice. Nothing in this Program shall be construed to be a guarantee that any Participant will receive all or part of a Bonus or to imply a contract between the
Company and any Participant. 
 This Program supersedes and replaces all prior incentive and bonus plans of the Company, other than any change of control
plans, severance plans, special bonus and retention plans as may be in effect from time to time (for both Executive Participants and Non-Executive Participants). The Committee may amend or terminate this Program at any time, with or without
notice. The Committee may likewise terminate an individual’s participation in the Program at any time, with or without notice. Further, the Board of Directors or the Committee may modify the Corporate Objectives, the Individual Objectives, the
Bonus Targets and/or the weighting of the Corporate Objectives at any time. 
 Any Bonuses paid hereunder shall be subject to recoupment in accordance with
The Dodd–Frank Wall Street Reform and Consumer Protection Act and any implementing regulations thereunder, any clawback policy adopted by the Company or as is otherwise required by applicable law. 

It is intended that the Program and any Bonuses granted and paid under the Program be exempt from the requirements of Section 409A of the Internal
Revenue Code of 1986, as amended, and the Committee shall interpret and administer the Program accordingly. 
 The Program shall be interpreted in
accordance with California law without reference to conflicts of law principles. 

  
 3.Exhibit

Exhibit 10.1

FIRST AMENDMENT dated as of March 25, 2016 (this “Amendment”) to Amendment No. 1 dated as of July 31, 2015 among the Borrower, the Lenders party thereto and the Incremental Tranche A-1 Term Loan Lenders (“Amendment No. 1 to the Credit Agreement”) to the Credit Agreement dated as of October 28, 2013 among GLP CAPITAL, L.P. (as successor-by-merger to GLP Financing, LLC), a Pennsylvania limited partnership (the “Borrower”), the several banks and other financial institutions or entities from time to time parties to the Credit Agreement (the “Lenders”) and JPMORGAN CHASE BANK, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”) (the “Credit Agreement”); capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in Amendment No. 1 to the Credit Agreement.
WHEREAS, the Borrower has requested, and the Incremental Tranche A-1 Term Loan Lenders have agreed, to modify the terms of the Incremental Tranche A-1 Term Loans; 
NOW, THEREFORE, in consideration of the premises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:
Section 1.    Amendments.  Amendment No. 1 to the Credit Agreement is hereby amended as follows:

(a)    the reference in clause (a) of Section 2(h) to “March 31” shall be deemed to be a reference to “April 30” and
(b)    Section 6(ix) shall be amended by adding the following immediately prior to “.” at the end thereof: “; provided further, the amendment to the Merger Agreement dated as of the date hereof and any further amendment, modification, supplement, waiver or consent that results in an extension of the End Date as defined in the Merger Agreement to any date not later than June 30, 2016 shall be permitted”.
Section 2.    Conditions to Effectiveness.  This Amendment shall become effective on the date that the Administrative Agent shall have received executed signature pages hereto from the Borrower and the Incremental Tranche A-1 Term Lenders (with the understanding that the obligation of such Incremental Tranche A-1 Term Lenders to provide the Incremental Tranche A-1 Term Loans shall be subject to satisfying the conditions set forth in Section 6 of Amendment No. 1).

Section 3.    Counterparts.  This Amendment may be executed in counterparts (and by different parties hereto in different counterparts) each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by fax transmission or other electronic scan transmission (e.g., “pdf” or “tif”) shall be effective as delivery of an originally executed counterpart hereof. 

Section 4.    Applicable Law; Waiver of Jury Trial; Jurisdiction; Consent to Service of Process.  The provisions set forth in Sections 10.14 and 10.15 of the Credit Agreement are hereby incorporated mutatis mutandis with all references to the “Agreement” therein being deemed references to this Amendment.

Section 5.    Headings.  The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

Section 6.    Effect of Amendment.  Except as expressly set forth herein, this Amendment (i) shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Incremental Tranche A-1 Term Loan Lenders or the Administrative Agent, in each case under Amendment No. 1 to the Credit Agreement or any other Loan Document, and (ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Amendment No. 1 to the Credit Agreement or any other Loan Document.  This Amendment shall constitute a Loan Document for purposes of the Credit Agreement from and after the Incremental Tranche A-1 Term Facility Amendment Effective Date.  

[Signature pages follow]

2

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

	
			
	 
	GLP CAPITAL L.P.

	 
	 
	 

	 
	By:
	/s/ William J. Clifford

	 
	 
	Name: William J. Clifford

	 
	 
	Title: SVP Finance and CFO

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

	
			
	 
	JPMORGAN CHASE BANK, N.A., 

	 
	 
	as Administrative Agent

	 
	 
	 

	 
	By:
	/s/ Mohammad S. Hasan

	 
	 
	Name: Mohammad S. Hasan

	 
	 
	Title: Executive Director

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

	
			
	 
	JPMORGAN CHASE BANK, N.A.,

	 
	 
	as an Incremental Tranche A-1 Term Loan Lender

	 
	 
	 

	 
	By:
	/s/ Mohammad S. Hasan

	 
	 
	Name: Mohammad S. Hasan

	 
	 
	Title: Executive Director

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

The undersigned Incremental Tranche A-1 Term Loan Lender hereby consents to this Amendment.

	
			
	 
	BANK  OF AMERICA, N.A.,

	 
	 
	as an Incremental Tranche A-1 Term Loan Lender

	 
	 
	 

	 
	By:
	/s/ Brian D. Corum

	 
	 
	Name: Brian D. Corum

	 
	 
	Title: Managing Director

	 
	 
	 

	 
	If a second signature is necessary:

	 
	 
	 

	 
	By:
	___________________

	 
	 
	Name: 

	 
	 
	Title:

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

The undersigned Incremental Tranche A-1 Term Loan Lender hereby consents to this Amendment.

	
			
	 
	FIFTH THIRD BANK

	 
	 
	as an Incremental Tranche A-1 Term Loan Lender

	 
	 
	 

	 
	By:
	/s/ Derek D. Brust

	 
	 
	Name: Derek D. Brust

	 
	 
	Title: Managing Director

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

The undersigned Incremental Tranche A-1 Term Loan Lender hereby consents to this Amendment.

	
			
	 
	MANUFACTURERS AND TRADERS TRUST COMPANY

	 
	 
	as an Incremental Tranche A-1 Term Loan Lender

	 
	 
	 

	 
	By:
	/s/ Paul Delmonte

	 
	 
	Name: Paul Delmonte

	 
	 
	Title: Vice President

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

The undersigned Incremental Tranche A-1 Term Loan Lender hereby consents to this Amendment.

	
			
	 
	WELLS FARGO BANKS, N.A.

	 
	 
	as an Incremental Tranche A-1 Term Loan Lender

	 
	 
	 

	 
	By:
	/s/ Donald Schubert

	 
	 
	Name: Donald Schubert

	 
	 
	Title: Managing Director

	 
	 
	 

	 
	If a second signature is necessary:

	 
	 
	 

	 
	By:
	___________________

	 
	 
	Name: 

	 
	 
	Title:

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

The undersigned Incremental Tranche A-1 Term Loan Lender hereby consents to this Amendment.

	
			
	 
	UBS AG, STAMFORD BRANCH 

	 
	 
	as an Incremental Tranche A-1 Term Loan Lender

	 
	 
	 

	 
	By:
	/s/ Darlene Arias

	 
	 
	Name: Darlene Arias

	 
	 
	Title: Director

	 
	 
	 

	 
	If a second signature is necessary:

	 
	 
	 

	 
	By:
	/s/ Craig Pearson

	 
	 
	Name: Craig Pearson

	 
	 
	Title: Associate Director

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

The undersigned Incremental Tranche A-1 Term Loan Lender hereby consents to this Amendment.

	
			
	 
	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK 

	 
	 
	as an Incremental Tranche A-1 Term Loan Lender

	 
	 
	 

	 
	By:
	/s/ David Bowers

	 
	 
	Name: David Bowers

	 
	 
	Title: Managing Director

	 
	 
	 

	 
	If a second signature is necessary:

	 
	 
	 

	 
	By:
	/s/ Gianna Gioia

	 
	 
	Name: Gianna Gioia

	 
	 
	Title: Vice President

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

The undersigned Incremental Tranche A-1 Term Loan Lender hereby consents to this Amendment.

	
			
	 
	SUNTRUST BANK

	 
	 
	as an Incremental Tranche A-1 Term Loan Lender

	 
	 
	 

	 
	By:
	/s/ J. Haynes Gentry III

	 
	 
	Name: J. Haynes Gentry III

	 
	 
	Title: Director

	 
	 
	 

	 
	If a second signature is necessary:

	 
	 
	 

	 
	By:
	___________________

	 
	 
	Name: 

	 
	 
	Title: 

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

The undersigned Incremental Tranche A-1 Term Loan Lender hereby consents to this Amendment.

	
			
	 
	NOMURA CORPORATE FUNDING AMERICAS, LLC 

	 
	 
	as an Incremental Tranche A-1 Term Loan Lender

	 
	 
	 

	 
	By:
	/s/ Sean P. Kelly

	 
	 
	Name: Sean P. Kelly

	 
	 
	Title: Managing Director

	 
	 
	 

	 
	If a second signature is necessary:

	 
	 
	 

	 
	By:
	___________________

	 
	 
	Name: 

	 
	 
	Title: 

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

The undersigned Incremental Tranche A-1 Term Loan Lender hereby consents to this Amendment.

	
			
	 
	CITIZENS BANK OF PENNSYLVANIA 

	 
	 
	as an Incremental Tranche A-1 Term Loan Lender

	 
	 
	 

	 
	By:
	/s/ Sean McWhinnie

	 
	 
	Name: Sean McWhinnie

	 
	 
	Title: Duly Authorized Signatory

	 
	 
	 

	 
	If a second signature is necessary:

	 
	 
	 

	 
	By:
	___________________

	 
	 
	Name: 

	 
	 
	Title: 

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

The undersigned Incremental Tranche A-1 Term Loan Lender hereby consents to this Amendment.

	
			
	 
	BARCLAYS BANK

	 
	 
	as an Incremental Tranche A-1 Term Loan Lender

	 
	 
	 

	 
	By:
	/s/ Ronnie Glenn

	 
	 
	Name: Ronnie Glenn

	 
	 
	Title: Vice President

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

[Signature Page to First Amendment to Amendment No. 1 to the Credit Agreement]

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