Document:

Exhibit

Exhibit 10.5

PARTIAL TERMINATION OF AND SIXTEENTH AMENDMENT TO 
AMENDED AND RESTATED MASTER LEASE AGREEMENT 
(LEASE NO. 1)
THIS PARTIAL TERMINATION OF AND  SIXTEENTH AMENDMENT TO AMENDED AND RESTATED MASTER LEASE AGREEMENT (LEASE NO. 1) (this "Amendment") is made and entered into as of June 1, 2018 by and among each of the parties identified on the signature pages hereof as a landlord (collectively, "Landlord") and each of the parties identified on the signature pages hereof as a tenant (jointly and severally, "Tenant").
W I T N E S S E T H:
WHEREAS, pursuant to the terms of that certain Amended and Restated Master Lease Agreement (Lease No. 1), dated as of August 4, 2009, as amended by that certain Partial Termination of and First Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of October 1, 2009, that certain Second Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of November 17, 2009, that certain Third Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of December 10, 2009, that certain Partial Termination of and Fourth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of August 1, 2010, that certain Fifth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of May 1, 2011, that certain Partial Termination of and Sixth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of June 1, 2011, that certain Seventh Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of June 20, 2011, that certain Eighth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of August 31, 2012, that certain Partial Termination of and Ninth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of August 1, 2013, that certain Partial Termination of and Tenth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of January 22, 2014, that certain Partial Termination of and Eleventh Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of October 1, 2014,  that certain Partial Termination of and Twelfth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of October 31, 2014, that certain Partial Termination of and Thirteenth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of February 17, 2015, that certain Partial Termination of and Fourteenth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of August 1, 2015, and that certain Partial Termination of and Fifteenth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of December 29, 2015 (as so amended, "Amended Lease No. 1"), Landlord leases to Tenant, and Tenant leases from Landlord, the Leased Property (this and other capitalized terms used but not otherwise defined herein having the meanings given such terms in Amended Lease No. 1), all as more particularly described in Amended Lease No. 1; and
WHEREAS, simultaneously herewith, SPTMNR Properties Trust is selling the Property consisting of the real property and related improvements known as Lancaster Healthcare Center and located at 1642 West Avenue J, Lancaster, California, as more particularly described on Exhibit A-5 to Amended Lease No. 1 (the “Lancaster Property”); and

WHEREAS, in connection with the foregoing, SPTMNR Properties Trust and the other entities comprising Landlord and Five Star Quality Care Trust and the other entities comprising Tenant wish to amend Amended Lease No. 1 to terminate Amended Lease No. 1 with respect to the Lancaster Property;
NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, the mutual receipt and legal sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree that, effective as of the date hereof, Amended Lease No. 1 is hereby amended as follows:
1.    Partial Termination of Amended Lease No. 1.  Amended Lease No. 1 is terminated with respect to the Lancaster Property and neither Landlord nor Tenant shall have any further rights or liabilities thereunder with respect to the Lancaster Property from and after the date hereof, except for those rights and liabilities which by their terms survive the termination of Amended Lease No. 1.
2.    Definition of Minimum Rent.  The defined term "Minimum Rent" set forth in Section 1.68 of Amended Lease No. 1 is deleted in its entirety and replaced with the following:
"Minimum Rent"  shall mean the sum of Fifty-Nine Million Twenty Thousand Five Hundred Three and 42/100 Dollars ($59,020,503.42) per annum.
3.    Schedule 1.  Schedule 1 to Amended Lease No. 1 is deleted in its entirety and replaced with Schedule 1 attached hereto.
4.    Exhibit A.  Exhibit A to Amended Lease No. 1 is amended by deleting the text of Exhibit A-5 attached thereto in their entirety and replacing it with “Intentionally Deleted”.
5.    Ratification.  As amended hereby, Amended Lease No. 1 is hereby ratified and confirmed.

[Remainder of page intentionally left blank; signature pages follow]

IN WITNESS WHEREOF, the parties have executed this Amendment as a sealed instrument as of the date above first written.

LANDLORD:
SNH SOMERFORD PROPERTIES TRUST 
SPTMNR PROPERTIES TRUST 
SNH/LTA PROPERTIES TRUST 
SPTIHS PROPERTIES TRUST 
SNH CHS PROPERTIES TRUST 
SNH/LTA PROPERTIES GA LLC
SNH/LTA SE WILSON LLC

By:     /s/ Jennifer F. Francis                
Jennifer F. Francis
President and Chief Operating Officer of each of the foregoing entities

TENANT:
FIVE STAR QUALITY CARE TRUST 
MORNINGSIDE OF KNOXVILLE, LLC 
MORNINGSIDE OF FRANKLIN, LLC
FVE SE WILSON LLC 

By:     /s/ Bruce J. Mackey Jr.                
Bruce J. Mackey Jr.
President and Chief Executive Officer of each of the foregoing entities

MORNINGSIDE OF MACON, LLC
MORNINGSIDE OF SENECA, L.P.
MORNINGSIDE OF HOPKINSVILLE, LIMITED PARTNERSHIP

		
	By:
	LIFETRUST AMERICA, INC.,  

a Tennessee corporation, its General Partner/Member (as applicable)

By:     /s/ Bruce J. Mackey Jr.            
Bruce J. Mackey Jr.
President and Chief Executive Officer

[Signature Page: Partial Termination of and Sixteenth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1)]

MORNINGSIDE OF BEAUFORT, LLC 
MORNINGSIDE OF CAMDEN, LLC
MORNINGSIDE OF HARTSVILLE, LLC
MORNINGSIDE OF LEXINGTON, LLC
MORNINGSIDE OF ORANGEBURG, LLC

		
	By:
	MORNINGSIDE OF SOUTH CAROLINA, L.P., a Delaware limited partnership, its Sole Member

		
	By:
	LIFETRUST AMERICA, INC.,  
a Tennessee corporation, its General Partner

		
	By:
	 /s/ Bruce J. Mackey Jr.        

Bruce J. Mackey Jr.
President and Chief Executive Officer

MORNINGSIDE OF CULLMAN, LLC 
MORNINGSIDE OF MADISON, LLC
MORNINGSIDE OF SHEFFIELD, LLC

		
	By:
	MORNINGSIDE OF ALABAMA, L.P., a Delaware limited partnership, its Sole Member

		
	By:
	LIFETRUST AMERICA, INC.,  
a Tennessee corporation, its General Partner

		
	By:
	 /s/ Bruce J. Mackey Jr._________

Bruce J. Mackey Jr.
President and Chief Executive Officer

[Signature Page: Partial Termination of and Sixteenth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1)]

MORNINGSIDE OF BOWLING GREEN, LLC 
MORNINGSIDE OF PADUCAH, LLC

		
	By:
	MORNINGSIDE OF KENTUCKY, LIMITED PARTNERSHIP, a Delaware limited partnership, its Sole Member

		
	By:  
	LIFETRUST AMERICA, INC.,  
a Tennessee corporation, its General Partner

		
	By:
	 /s/ Bruce J. Mackey Jr.        

Bruce J. Mackey Jr.
President and Chief Executive Officer

MORNINGSIDE OF CONYERS, LLC 
MORNINGSIDE OF GAINESVILLE, LLC

		
	By:
	MORNINGSIDE OF GEORGIA, L.P., a Delaware limited partnership, its Sole Member

		
	By:  
	LIFETRUST AMERICA, INC.,  
a Tennessee corporation, its General Partner

		
	By:
	 /s/ Bruce J. Mackey Jr.        

Bruce J. Mackey Jr.
President and Chief Executive Officer

MORNINGSIDE OF CLEVELAND, LLC 
MORNINGSIDE OF COOKEVILLE, LLC
MORNINGSIDE OF JACKSON, LLC

		
	By:
	MORNINGSIDE OF TENNESSEE, LLC, a Delaware limited liability company, its Sole Member

		
	By:
	 /s/ Bruce J. Mackey Jr.            

Bruce J. Mackey Jr.
President and Chief Executive Officer

[Signature Page: Partial Termination of and Sixteenth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1)]

SCHEDULE 1

PROPERTY-SPECIFIC INFORMATION

	
						
	

Exhibit
	Property Address
	Base Gross Revenues
(Calendar Year)
	Base Gross Revenues
(Dollar Amount)
	Commencement 
Date
	Interest Rate

	A-1
	Intentionally Deleted.

	N/A
	N/A
	N/A
	N/A

	A-2
	Intentionally Deleted.

	N/A
	N/A
	N/A
	N/A

	A-3
	Somerford Place - Encinitas
1350 South El Camino Real
Encinitas, CA  92024
	2009
	$3,092,467
	03/31/2008
	8%

	A-4
	Somerford Place - Fresno
6075 North Marks Avenue
Fresno, CA  93711
	2009
	$3,424,896
	03/31/2008
	8%

	A-5
	Intentionally Deleted.
	N/A
	N/A
	N/A
	N/A

	A-6
	Somerford Place – Redlands
1319 Brookside Avenue
Redlands, CA  92373 
	2009
	$3,065,084
	03/31/2008
	8%

	A-7
	Somerford Place - Roseville
110 Sterling Court
Roseville, CA  95661
	2009
	$2,802,082
	03/31/2008
	8%

	A-8
	Leisure Pointe
1371 Parkside Drive
San Bernardino, CA  92404
	2007
	$1,936,220
	09/01/2006
	8.25%

	A-9
	Van Nuys Health Care Center
6835 Hazeltine Street
Van Nuys, CA  91405
	2005
	$3,626,353
	12/31/2001
	10%

	A-10
	Mantey Heights  
Rehabilitation & Care Center
2825 Patterson Road
Grand Junction, CO  81506
	2005
	$5,564,949
	12/31/2001
	10%

	A-11
	Cherrelyn Healthcare Center
5555 South Elati Street
Littleton, CO  80120
	2005
	$12,574,200
	12/31/2001
	10%

	A-12
	Somerford House and Somerford Place – Newark I & II
501 South Harmony Road and
4175 Ogletown Road
Newark, DE  19713
	2009
	$6,341,636
	03/31/2008
	8%

	A-13
	Tuscany Villa Of Naples  
(aka Buena Vida)
8901 Tamiami Trail East 
Naples, FL  34113
	2008
	$2,157,675
	09/01/2006
	8.25%

	A-14
	Intentionally Deleted.

	N/A
	N/A
	N/A
	N/A

	A-15
	Morningside of Columbus
7100 South Stadium Drive
Columbus, GA  31909
	2006
	$1,381,462
	11/19/2004
	9%

	
						
	

Exhibit
	Property Address
	Base Gross Revenues
(Calendar Year)
	Base Gross Revenues
(Dollar Amount)
	Commencement 
Date
	Interest Rate

	A-16
	Morningside of Dalton 
2470 Dug Gap Road
Dalton, GA  30720
	2006
	$1,196,357
	11/19/2004
	9%

	A-17
	Morningside of Evans
353 North Belair Road
Evans, GA  30809
	2006
	$1,433,421
	11/19/2004
	9%

	A-18
	Vacant Land Adjacent to Morningside of Macon
6191 Peake Road
Macon, GA  31220
	2006
	N/A
	11/19/2004
	9%

	A-19
	Intentionally Deleted.
	N/A
	N/A
	N/A
	N/A

	A-20
	Union Park Health Services
2401 East 8th Street
Des Moines, IA  50316
	2005
	$4,404,678
	12/31/2001
	10%

	A-21
	Intentionally Deleted.
	N/A
	N/A
	N/A
	N/A

	A-22
	Prairie Ridge Care & Rehabilitation
608 Prairie Street
Mediapolis, IA  52637
	2005
	$3,234,505
	12/31/2001
	10%

	A-23
	Ashwood Place
102 Leonardwood
Frankfort, KY  40601
	2007
	$1,769,726
	09/01/2006
	8.25%

	A-24
	Somerford Place - Annapolis
2717 Riva Road
Annapolis, MD  21401
	2009
	$3,917,902
	03/31/2008
	8%

	A-25
	Somerford Place - Columbia
8220 Snowden River Parkway
Columbia, MD  21045
	2009
	$3,221,426
	03/31/2008
	8%

	A-26
	Somerford Place - Frederick
2100 Whittier Drive
Frederick, MD  21702
	2009
	$5,088,592
	03/31/2008
	8%

	A-27
	Somerford Place - Hagerstown
10114 & 10116 Sharpsburg Pike
Hagerstown, MD  21740
	2009
	$4,066,761
	03/31/2008
	8%

	A-28
	The Wellstead of Rogers 
20500 and 20600 
   South Diamond Lake Road
Rogers, MN  55374
	2009
	$12,646,616
	03/01/2008
	8%

	A-29
	Intentionally Deleted.
	N/A
	N/A
	N/A
	N/A

	A-30
	Hermitage Gardens of Oxford
1488 Belk Boulevard
Oxford, MS  38655
	2007
	$1,816,315
	10/01/2006
	8.25%

	A-31
	Hermitage Gardens of Southaven
108 Clarington Drive
Southaven, MS  38671
	2007
	$1,527,068
	10/01/2006
	8.25%

	A-32
	Ashland Care Center
1700 Furnace Street
Ashland, NE  68003
	2005
	$4,513,891
	12/31/2001
	10%

	
						
	

Exhibit
	Property Address
	Base Gross Revenues
(Calendar Year)
	Base Gross Revenues
(Dollar Amount)
	Commencement 
Date
	Interest Rate

	A-33
	Blue Hill Care Center
414 North Wilson Street
Blue Hill, NE  68930
	2005
	$2,284,065
	12/31/2001
	10%

	A-34
	Central City Care Center
2720 South 17th Avenue
Central City, NE  68462
	2005
	$2,005,732
	12/31/2001
	10%

	A-35
	Intentionally Deleted.

	N/A
	N/A
	N/A
	N/A

	A-36
	Gretna Community Living Center
700 South Highway 6
Gretna, NE  68028
	2005
	$3,380,356
	12/31/2001
	10%

	A-37
	Sutherland Care Center
333 Maple Street
Sutherland, NE  69165
	2005
	$2,537,340
	12/31/2001
	10%

	A-38
	Waverly Care Center
11041 North 137th Street
Waverly, NE  68462
	2005
	$3,066,135
	12/31/2001
	10%

	A-39
	Intentionally Deleted.

	N/A
	N/A
	N/A
	N/A

	A-40
	Intentionally Deleted.
	N/A
	N/A
	N/A
	N/A

	A-41
	Mount Vernon of South Park
1400 Riggs Road
South Park, PA  15129
	2006
	$2,718,057
	10/31/2005
	9%

	A-42
	Morningside of Gallatin
1085 Hartsville Pike
Gallatin, TN  37066
	2006
	$1,343,801
	11/19/2004
	9%

	A-43
	Walking Horse Meadows
207 Uffelman Drive
Clarksville, TN  37043
	2007
	$1,471,410
	01/01/2007
	8.25%

	A-44
	Morningside of Belmont
1710 Magnolia Boulevard
Nashville, TN  37212
	2006
	$3,131,648
	06/03/2005
	9%

	A-45
	Dominion Village at Chesapeake
2856 Forehand Drive
Chesapeake, VA  23323
	2005
	$1,416,951
	05/30/2003
	10%

	A-46
	Dominion Village at Williamsburg
4132 Longhill Road
Williamsburg, VA  23188
	2005
	$1,692,753
	05/30/2003
	10%

	A-47
	Intentionally Deleted.
	N/A
	N/A
	N/A
	N/A

	A-48
	Brookfield Rehabilitation and    Specialty Care (aka Woodland    Healthcare Center)
18741 West Bluemound Road
Brookfield, WI  53045
	2005
	$13,028,846
	12/31/2001
	10%

	A-49
	Meadowmere -  
   Southport Assisted Living
8350 and 8351 Sheridan Road
Kenosha, WI  53143
	2009
	$2,170,645
	01/04/2008
	8%

	
						
	

Exhibit
	Property Address
	Base Gross Revenues
(Calendar Year)
	Base Gross Revenues
(Dollar Amount)
	Commencement 
Date
	Interest Rate

	A-50
	Meadowmere -  
   Madison Assisted Living
5601 Burke Road
Madison, WI  53718
	2009
	$2,136,654
	01/04/2008
	8%

	A-51
	Intentionally Deleted.
	N/A
	N/A
	N/A
	N/A

	A-52
	Mitchell Manor Senior Living
5301 West Lincoln Avenue
West Allis, WI  53219
	2009
	$12,348,104
	01/04/2008
	8%

	A-53
	Laramie Care Center
503 South 18th Street
Laramie, WY  82070
	2005
	$4,473,949
	12/31/2001
	10%

	A-54
	Haven in Highland Creek
5920 McChesney Drive
Charlotte, NC  28269

Laurels in Highland Creek  
6101 Clark Creek Parkway 
Charlotte, NC  28269
	2010
	$6,454,157
	11/17/2009
	8.75%

	A-55
	Haven in the Village  
   at Carolina Place
13150 Dorman Road 
Pineville, NC  28134

Laurels in the Village
   at Carolina Place
13180 Dorman Road 
Pineville, NC  28134
	2010
	$7,052,425
	11/17/2009
	8.75%

	A-56
	Haven in the Summit
3 Summit Terrace 
Columbia, SC  29229
	2010
	$2,308,737
	11/17/2009
	8.75%

	A-57
	Haven in the Village at Chanticleer  
355 Berkmans Lane 
Greenville, SC  29605
	2010
	$2,197,919
	11/17/2009
	8.75%

	A-58
	Intentionally Deleted
	N/A
	N/A
	N/A
	N/A

	A-59
	Haven in Stone Oak  
511 Knights Cross Drive
San Antonio, TX  78258

Laurels in Stone Oak 
575 Knights Cross Drive San Antonio, TX  78258
	2010
	$6,584,027
	11/17/2009
	8.75%

	A-60
	Eastside Gardens 
2078 Scenic Highway North 
Snellville, GA 30078
	2010
	$1,766,628
	12/10/2009
	8.75%

	A-61
	Crimson Pointe
7130 Crimson Ridge Drive
Rockford, IL  61107
	2012
	$2,568,827
	05/01/2011
	8%

	A-62
	Talbot Park
6311 Granby Street
Norfolk, VA 23305
	2012
	$3,866,871
	06/20/2011
	7.5%

	
						
	

Exhibit
	Property Address
	Base Gross Revenues
(Calendar Year)
	Base Gross Revenues
(Dollar Amount)
	Commencement 
Date
	Interest Rate

	A-63
	The Landing at Parkwood Village
1720 Parkwood Boulevard
Wilson, NC  27893
	2012
	$4,318,990
	06/20/2011
	7.5%

	A-64
	Aspenwood 
14400 Homecrest Road Silver Spring, MD 20906
	2005
	$4,470,354
	10/25/2002
	10%

	A-65
	HeartFields at Easton 
700 Port Street
Easton, MD 21601
	2005
	$2,545,887
	10/25/2002
	10%

	A-66
	Morningside of Macon
6191 Peake Road
Macon, GA  31220
	2006
	$1,298,541
	11/19/2004
	9%

	A-67
	Morningside of Beaufort
109 Old Salem Road
Beaufort, SC  29902
	2006
	$1,337,453
	11/19/2004
	9%

	A-68
	Morningside of Camden
719 Kershaw Highway
Camden, SC  29020
	2006
	$1,595,035
	11/19/2004
	9%

	A-69
	Morningside of Hartsville
1901 West Carolina Avenue
Hartsville, SC  29550
	2006
	$1,507,131
	11/19/2004
	9%

	A-70
	Morningside of Lexington
218 Old Chapin Road
Lexington, SC  29072
	2006
	$1,638,422
	11/19/2004
	9%

	A-71
	Morningside of Orangeburg
2306 Riverbank Drive
Orangeburg, SC  29118
	2006
	$1,129,764
	11/19/2004
	9%

	A-72
	Morningside of Seneca
15855 Wells Highway
Seneca, SC  29678
	2006
	$1,684,477
	11/19/2004
	9%

	A-73
	Morningside of Cullman
2021 Dahlke Dr. NE
Cullman, AL  32058
	2006
	$1,413,633
	11/19/2004
	9%

	A-74
	Morningside of Madison
49 Hughes Road
Madison, AL  35758
	2006
	$1,531,206
	11/19/2004
	9%

	A-75
	Morningside of Sheffield
413 D. D. Cox Boulevard
Sheffield, AL  35660
	2006
	$1,495,038
	11/19/2004
	9%

	A-76
	Morningside of Bowling Green
981 Campbell Lane
Bowling Green, KY  42104
	2006
	$1,458,781
	11/19/2004
	9%

	A-77
	Morningside of Paducah
1700 Elmdale Road
Paducah, KY  42003
	2006
	$2,012,245
	11/19/2004
	9%

	
						
	

Exhibit
	Property Address
	Base Gross Revenues
(Calendar Year)
	Base Gross Revenues
(Dollar Amount)
	Commencement 
Date
	Interest Rate

	A-78
	Morningside of Conyers
1352 Wellbrook Circle
Conyers, GA  30012
	2006
	$1,646,910
	11/19/2004
	9%

	A-79
	Morningside of Gainesville
2435 Limestone Parkway
Gainesville, GA  30501
	2006
	$1,453,250
	11/19/2004
	9%

	A-80
	Morningside of Cleveland
2900 Westside Drive, N.W.
Cleveland, TN  37312
	2006
	$1,212,846
	11/19/2004
	9%

	A-81
	Morningside of Cookeville
1010 East Spring Street
Cookeville, TN  38501
	2006
	$1,513,932
	11/19/2004
	9%

	A-82
	Morningside of Jackson
1200 North Parkway
Jackson, TN  38305
	2006
	$1,787,155
	11/19/2004
	9%

	A-83
	Williamsburg Villas
A Morningside Community
3020 Heatherton Way
Knoxville, TN  37920
	2006
	$2,728,841
	11/19/2004
	9%

	A-84
	Morningside of Franklin
105 Sunrise Circle
Franklin, TN  37067
	2006
	$1,582,509
	11/19/2004
	9%

	A-85
	Morningside of Hopkinsville
4190 Lafayette Road
Hopkinsville, KY  42240
	2006
	$1,444,246
	11/19/2004
	9%

	A-86
	Parkwood Village
1730 Parkwood Boulevard
Wilson, NC  27893
	2012
	$4,318,990
	06/23/2011
	7.5%kodk-ex101_13.htm

 

Exhibit (10.1)

 

Eastman Kodak Company

Administrative Guide for Supplemental Awards for the 2018 Performance Period

under the

Executive Compensation for Excellence and Leadership (EXCEL) Plan

ARTICLE 1.INTRODUCTION

1.1Background

Under Article 4 of the Executive Compensation for Excellence and Leadership Plan (the “Plan”), the Executive Compensation Committee (the “Committee”) has exclusive responsibility to control, operate, manage and administer the Plan in accordance with its terms.   

1.2Purpose 

This Administrative Guide governs the Committee’s grant of Supplemental Awards for the 2018 Performance Period under the Plan.  This Administrative Guide may also be referred to by the Company as the “Supplemental Plan” or the “Supplemental Plan Administrative Guide.”  Unless otherwise noted in this Administrative Guide or determined by the Committee, the terms of the Plan shall apply to all Supplemental Awards for the 2018 Performance Period granted under the Plan.  

For the avoidance of doubt, the Supplemental Awards are in addition to any other Awards for the 2018 Performance Period granted by the Company under the Plan or any other variable pay plan of the Company.

ARTICLE 2.DEFINITIONS

Any defined term used in this Administrative Guide, other than those specifically defined in this Administrative Guide, will have the same meaning as that given to it under the terms of the Plan.

2.1Form 10-K Filing Date

The term “Form 10-K Filing Date” means the date that the Company files with the Securities and Exchange Commission its Form 10-K for the period ending December 31, 2018.

2.2Performance Gates

The term “Performance Gate” means a performance condition which must be achieved for performance against the Performance Goal(s) to be considered.  Failure to achieve a Performance Gate prevents the funding of the Supplemental Award Pool and the payment of any Supplemental Award regardless of performance against the Performance Goal(s).  The Performance Gate(s) for the Supplemental Awards for the 2018 Performance Period are listed in Appendix A.

 

 

 

2.3 Performance Goal(s)

The term “Performance Goal(s)” means the Company and individual Performance Goal(s) upon which the payment of the Supplemental Awards is determined.  The Performance Goal(s) for the Supplemental Awards for the 2018 Performance Period are listed in Appendix A.     

2.4Performance Period

The term “Performance Period” or “2018 Performance Period” means the Performance Period that coincides with Kodak’s 2018 fiscal year.

ARTICLE 3.ELIGIBILITY

Those employees who were deemed to hold critical roles in driving progress against the strategic goals for the Company (the “Participants”) were selected by the Committee and were granted Supplemental Awards for the 2018 Performance Period under the Plan pursuant to this Administrative Guide.

A Participant’s Supplemental Award will be calculated using the Participant’s base salary and target variable percentage as of December 31 of the Performance Period (the “Target Award”).  

Receipt of a Supplemental Award for the 2018 Performance Period by a Participant will not in any manner entitle the Participant to receive payment of such Supplemental Award.  The determination as to whether a Participant becomes entitled to payment of his or her Supplemental Award for the 2018 Performance Period will be decided solely in accordance with the terms of this Administrative Guide and the Plan.

Subject to applicable local laws, regulations and processes, to be eligible for and to receive payment of a Supplemental Award, a Participant must have signed an Employee Agreement in a form acceptable to the Chief Human Resources Officer, Eastman Kodak Company.  Any Participant who fails to sign such an Employee Agreement on or prior to the Award Payment Date(s) will not receive payment of his or her Supplemental Award.

ARTICLE 4.AWARD DESCRIPTION

4.1Terms of Awards

All Supplemental Awards for the 2018 Performance Period under the Plan granted by the Committee pursuant to this Administrative Guide will be subject to the terms, conditions, restrictions and limitations contained in this Administrative Guide as well as those contained in the Plan.

4.2Form of Awards

Any Supplemental Award for the 2018 Performance Period will be paid on the Award Payment Date(s) determined by the Company, in cash, Common Stock or other property, or any combination thereof, as determined by the Committee.  To the extent a Supplemental Award is paid in Common Stock, such Common Stock will be issued under the Eastman Kodak Company 2013 Omnibus Incentive Compensation Plan (or any applicable successor plan thereto).

2

 

 

ARTICLE 5.AWARD DETERMINATION

5.1Calculation of Award Amount

Provided that the Performance Gate(s) have been achieved, the amount of a Participant’s Supplemental Award for the 2018 Performance Period payable will be based on the Participant’s Applicable Performance Percentage derived from the Performance Goal(s) applicable to the Company and the Participant, multiplied by the Participant’s Target Award.

5.2Certification

Following the completion of the Performance Period, the Committee shall meet to review and certify in writing whether, and to what extent, the Performance Goal(s) and Performance Gate(s) for the Performance Period have been achieved.  The Committee will review and certify any individual performance goals of the CEO, and the CEO may review and certify any individual performance goals of a Participant other than the CEO.  If the Committee certifies that the Performance Gate(s) have been achieved, it shall also calculate and certify in writing each Participant’s Applicable Performance Percentage.  The Committee may, through the use of discretion, increase or reduce a Participant’s Applicable Performance Percentage or the amount of a Participant’s Supplemental Award that would otherwise be payable by application of the Participant’s Applicable Performance Percentage, if, in its sole judgment, such increase or reduction is appropriate.

5.3Calculation and Allocation of Award Pool

Solely for purposes of the Plan, the Supplemental Award Pool shall be the aggregate of the amount of each Participant’s Supplemental Award determined under Section 5.2, which shall be allocated among the Participant’s in accordance with the amount of their respective Supplemental Awards determined under Section 5.2.  For each Participant who is a Covered Employee, the sum of the Participant’s Supplemental Award and the Participant’s other Awards under the Plan for the 2018 Performance Period may not exceed $5,000,000.

ARTICLE 6.PAYMENT OF AWARDS 

6.1Continued Employment

Except as otherwise provided by this Article 6, to be eligible to be considered for a Supplemental Award for the 2018 Performance Period, a Participant must be actively employed by the Company on the Form 10-K Filing Date. 

6.2Termination During the Performance Period 

In the event a Participant’s employment is terminated during the 2018 Performance Period, whether by the Company or the Participant, for any reason (including, but not limited to the Participant’s death or Disability) other than as part of a divestiture by the Company, the Participant will not be eligible to be considered for a Supplemental Award for the 2018 Performance Period.  

If the termination during the 2018 Performance Period is part of a divestiture by the Company, the Participant will be eligible to be considered for a pro-rata Supplemental Award paid by the Company based on the number of days during the Performance Period before the date of the divestiture only if the successor company has not agreed to accept liability for the Supplemental 

3

 

 

Award.  The amount of any pro-rata Supplemental Award will be calculated as a percentage.  The numerator will be the number of days during the Performance Period during which the Participant was employed by the Company prior to the divestiture, and the denominator of which is 365 days.  

6.3Termination After Performance Period and Prior to Form 10-K Filing Date 

In the event that a Participant is terminated by the Company for Cause after the end of the Performance Period, but before the Form 10-K Filing Date, the Participant will not be eligible to be considered for a Supplemental Award for the Performance Period.

In the event that a Participant is terminated by the Company after the end of the Performance Period and prior to the Form 10-K Filing Date for any reason other than Cause, the Participant will be eligible to be considered for a Supplemental Award for the Performance Period, based on certification by the Committee as set forth in Section 5.2 and subsequent management discretion with respect to the Participant’s performance in the Performance Period.  If the termination is part of a divestiture by the Company, the Participant will be eligible to be considered for a Supplemental Award paid by the Company only if the successor company has not agreed to accept liability for the Supplemental Award. 

In the event that a Participant voluntarily terminates his or her employment with the Company after the end of the Performance Period and prior to the Form 10-K Filing Date for any reason other than the death or Disability of the Participant, the Participant will not be eligible to be considered for a Supplemental Award for the Performance Period.  

In the event of the death or Disability of a Participant after the end of the Performance Period and prior to the Form 10-K Filing Date, the Participant will be eligible to be considered for a Supplemental Award for the Performance Period, based on certification by the Committee as set forth in Section 5.2 and subject to subsequent management discretion with respect to the Participant’s performance in the Performance Period.

6.4Forfeiture 

If, at any time, a Participant breaches his or her Employee Agreement or performs any act or engages in any activity which the CEO, in the case of all Participants other than the CEO, or the Committee, in the case of the CEO, determines is inimical to the best interests of Kodak, the Participant will forfeit all of his or her Supplemental Award.

ARTICLE 7.ADMINISTRATION

This Administrative Guide shall be administered by the Committee.  The Committee is authorized to interpret, construe and implement the Administrative Guide, to prescribe, amend and rescind rules and regulations relating to it, and to make all other determinations necessary, appropriate or advisable for its administration.  Any determination by the Committee in carrying out, administering or construing this Administrative Guide will be final and binding for all purposes and upon all interested persons and their heirs, successors, and personal representatives.

ARTICLE 8.MISCELLANEOUS

8.1.Termination/Amendment

4

 

 

The Committee may amend, suspend or terminate this Administrative Guide in whole or in part at any time and for any reason, with or without prior notice.  In addition, the Committee, or any person to whom the Committee has delegated the requisite authority, may, at any time and from time to time, amend this Administrative Guide in any manner and for any reason.

8.2     Section 409A Compliance

Notwithstanding Section 10.9 of the Plan, the Supplemental Awards described in this Administrative Guide for the Performance Period are intended to comply with Section 409A of the Code to the extent such arrangements are subject to that law, and the Plan and this Administrative Guide shall be interpreted and administered accordingly.

8.3Participant’s Rights Unsecured

The amounts payable under the Plan pursuant to this Administrative Guide will be unfunded, and the right of any Participant or his or her estate to receive payment under this Administrative Guide will be an unsecured claim against the general assets of the Company.  

8.4No Guarantee of Tax Consequences

No person connected with the Plan or this Administrative Guide in any capacity, including, but not limited to, the Company and its directors, officers, agents and employees makes any representation, commitment, or guarantee that any tax treatment, including, but not limited to, federal, state and local income, estate and gift tax treatment, will be applicable with respect to amounts deferred under the Plan or this Administrative Guide, or paid to or for the benefit of a Participant under the Plan or this Administrative Guide, or that such tax treatment will apply to or be available to a Participant on account of participation in the Plan pursuant to this Administrative Guide.

*****

 

5

 

 

APPENDIX A

CONFIDENTIAL - DO NOT DISTRIBUTE

	
 
	
•
	
Performance Gate(s):

	
 
	
o
	
Compliance with covenants

	
 
	
•
	
Performance Goal Weightings:

	
 
	
o
	
Individual Management by Objectives (MBOs)*:  60%

	
 
	
o
	
Total Company Financial Performance (as defined for and determined under the EXCEL/KVP Plan for 2018 Performance Period in which the Participant participates):  40%

 

	
 
	
*
	
A Participant’s individual MBOs are set forth in an individual ‘plan overview’ for that Participant, which shall be considered part of this Appendix for that Participant.  Leaders will have the ability to adjust any Participant’s MBOs throughout the 2018 Performance Period as strategic priorities shift.
	
 

6

 

 

2018 SUPPLEMENTAL AWARDS

PLAN OVERVIEW

	
	
This Plan Overview has been developed for the following Participant:

 

	
 
	
Employee Name:
	

	
 
	
DIVISION:
	

	
 
	
PERFORMANCE PERIOD:
	
January 1, 2018 - December 31, 2018

	
 
	

	
  

 

	
	
Purpose

The purpose of this document is to provide an overview of your Supplemental Award for the 2018 Performance Period under the Eastman Kodak Company Executive Compensation for Excellence and Leadership (EXCEL) Plan (“Plan”).  More information about your Supplemental Award is available in the Supplemental Plan Administrative Guide, delivered with this individual plan document.

 

 

 

 

	
	
Overview of Plan

The Supplemental Awards are designed to incentivize critical resources for the successful execution of pre-identified goals aligned to the 2018 ‘value drivers’ for the Company, and to provide greater line-of-sight for a payout opportunity under the Plan.  Payment of the Supplemental Award is conditional on the satisfaction of the Performance Gate and is based on Performance Goals outlined in this overview.  Your Supplemental Award is in addition to any other Award you may receive under the Plan or other variable pay plan of the Company for the 2018 Performance Period. 

 

 

		
	
Key Compensation Elements

	
 

	
Base Salary
	
 

	
Variable %
	
 

	
Target Award
	
 

 

7

 

 

 

				
	
Plan Metrics
	
                       Metric

                      Weighting
	
Plan Target Incentive

	
  Performance Gate1

	
 

Compliance with Covenants

 
	
 
	
 

	
  Performance Goals

	
 

Total Company Financial Performance2

 
	
40%
	
100%

	
Individual Management by Objectives (MBOs)3
	
 

60%

 
	
 

100%

 

	
  Total
	
100%
	
100%

 

 

 

 

	
1
	
The Performance Gate must be satisfied before any payout can be made.

 

	
2
	
Total Company Financial Performance will be based on your EXCEL/KVP Company financial metrics.

 

	
3
	
Your respective ELT member will provide you with detailed information on your MBOs, which will be considered part of your plan overview.  ELT, at their discretion, may adjust MBOs during the 2018 Performance Period if strategic priorities shift.  Any change requires CHRO and respective ELT approval.

 

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00286-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00286-of-00352.parquet"}]]