Document:

Exhibit 4.10

 

PROMISSORY NOTE

 

	
$100,000
    	
 
    	
January 16, 2014
    
	
 
    	
 
    	
Moorestown N.J.
    

 

FOR VALUE RECEIVED, the undersigned, CareKinesis Inc., a Delaware Corporation, promises to pay to the order of Calvin Knowlton and Orsula Knowlton at [                  ] the sum of One Hundred Thousand Dollars ($100,000.00) at a rate of six percent (6%) per annum as follows:

 

Monthly interest-only payments due on the 15th of each month, commencing on February 15, 2014. The loan is calculated as # days/month times 0.000164, times the outstanding principal at month’s end. The February 15, 2014 payment will include interest due on the principal from January 16, 2014 through January 31, 2014.

 

It is understood that periodic withdraws of principal will occur, with at least fifteen (15) days notice.

 

This Promissory Note may be paid in part or in full at any time without penalty.

 

If any payment hereon be not paid within thirty (30) days of the due date all of the indebtness evidenced by this Promissory Note shall, at the option of the Holder, be immediately due and payable.

 

If this note is placed in the hands of an attorney for collection, the undersigned makers agree to pay an additional amount equal to reasonable attorney fees.

 

	
 
    	
MAKER:
    
	
 
    	
CAREKINESIS, INC.
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Brian W. Adams
    
	
 
    	
Name:   Brian W. Adams
    
	
 
    	
Title:   VP, Finance/Secretary
    

 

1Exhibit 4.11

AMENDED PROMISSORY NOTE

 

	
 
    	
 
    	
 
    
	
$1,099,108.99
    	
 
    	
September 26,   2013
    
	
 
    	
 
    	
Moorestown   N.J.
    
	
 
    	
 
    	
 
    

 

 

FOR VALUE RECEIVED, the undersigned, CareKinesis Inc., a Delaware Corporation, on demand, promises to pay to the order of Calvin Knowlton and  Orsula Knowlton, or the survivor among them, at [            ] the sum of One Million and Ninety Nine Thousand and One Hundred and Eight Dollars and Ninety Nine Cents ($1,099,108.99) with interest computed as follows: six percent (6%) per annum on One Hundred and Fifty Nine Thousand and Seven Hundred and Eight Dollars and Ninety Nine Cents ($159,708.99) from September 26, 2013 plus six percent (6%) per annum on One Hundred and Thirty Nine Thousand and Four Hundred Dollars ($139,400) from September 25, 2013 plus six percent (6%) per annum on One Hundred Fifty Thousand Dollars ($150,000.00) from August 13, 2012 plus six percent (6%) per annum on Four Hundred Fifty Thousand Dollars ($450,000.00) from January 2, 2013 plus six percent (6%) per annum on One Hundred Thousand Dollars ($100,000.00) from April 19, 2013 plus six percent (6%) per annum on One Hundred Thousand Dollars ($100,000.00) from May 9, 2013 and payable as follows:

 

Interest payable monthly on the fifteenth (15th) day of each consecutive month with the first payment January 15, 2013. The first payment of interest shall consist of six percent (6%) interest computed on One Hundred Fifty Thousand Dollars ($150,000.00) for the period commencing August 13, 2012 plus interest computed at six percent (6%) on Four Hundred Fifty Thousand Dollars ($450,000.00) for the period commencing January 2, 2013. All interest payments thereafter shall be computed based upon the number of days/month times 0.000164 times the then outstanding principal at month’s end.

 

As additional consideration for the loan, it is agreed that CareKinesis, Inc. will, simultaneously with the execution of this Amended Promissory Note, grant to Calvin Knowlton and Orsula Knowlton, or the survivor among them, warrants to

 

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purchase Class B Common Stock of CareKinesis, Inc., with the number of shares of Class B Common Stock and the Exercise Prices as set forth in the Warrant.

 

The principal of this Promissory Note may be paid in part or in full at any time without penalty.

 

If any payment hereon be not paid within thirty (30) days of the due date all of the indebtness evidenced by this Promissory Note shall, at the option of the Holder, be immediately due and payable.

 

If this note is placed in the hands of an attorney for collection, the undersigned makers agree to pay an additional amount equal to reasonable attorney fees.

 

	
 
    	
MAKER:
    
	
 
    	
CAREKINESIS, INC.
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Brian Adams
    
	
 
    	
Name: Brian W. Adams
    
	
 
    	
Title: VP, Finance/
    
	
 
    	
Secretary
    

 

2Exhibit 4.12

 

PROMISSORY NOTE

 

	
$250,000
    	
 
    	
May 20, 2013
    
	
 
    	
 
    	
Moorestown N.J.
    

 

FOR VALUE RECEIVED, the undersigned, CareKinesis Inc., a Delaware Corporation, on demand, promises to pay to the order of John R. Durham and  Joann M. Durham, or the survivor among them, at [                      ] the sum of Two Hundred and Fifty Thousand Dollars ($250,000.00) with interest computed at six percent (6%) per annum from May 20th, 2013. All interest payments shall be computed based upon the number of days/month times 0.000164 times the then outstanding principal at month’s end. Interest is payable monthly on the fifteenth (15th) day of each consecutive month with the first payment June 15, 2013.

 

The principal of this Promissory Note may be paid in part or in full at any time without penalty.

 

If any payment hereon be not paid within thirty (30) days of the due date all of the indebtedness evidenced by this Promissory Note shall, at the option of the Holder, be immediately due and payable.

 

If this note is placed in the hands of an attorney for collection, the undersigned makers agree to pay an additional amount equal to reasonable attorney fees.

 

As additional consideration for the loan, it is agreed that CareKinesis, Inc. will, simultaneously with the execution of this Amended Promissory Note, grant to John R. Durham and Joann M. Durham, or the survivor among them, warrants to purchase Class B Common Stock of CareKinesis, Inc., with the number of shares of Class B Common Stock and the Exercise Prices as set forth in the Warrant.

 

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CareKinesis, Inc.
    	
CareKinesis,Inc.
    
	
 
    	
 
    
	
by:
    	
 /s/ Brian Adams
    	
 
    	
by:
    	
 /s/ Orsula V. Knowlton
    
	
Brian   Adams Secretary
    	
 
    	
Orsula   Knowlton President
    	
 
    
							

 

STATE OF NEW JERSEY

COUNTY OF BURLINGTON

 

I certify that on the 20th day of May 2013 Brian Adams personally came before me and stated to my satisfaction that:

(1) he is the Secretary of CareKinesis, Inc.

(2) that Orsula Knowlton is the President of CareKinesis, Inc.

(3) that CareKinesis, Inc., was the maker of the Amended Promissory Note; and

(4) executed the Amended Promissory Note as its act and deed.

 

	
 
    	
/s/ Maureen E. Vurgason
    

 

2Exhibit 10.2

 

TABULA RASA HEALTHCARE, INC.

 

LEADERSHIP EXIT BONUS PLAN

 

 

As adopted on June 30, 2014

 

1.              Purpose; Definitions.

 

(a)         On or about the date hereof, Tabula Rasa Healthcare, Inc. (the “Company”) entered into an Agreement and Plan of Merger with CareKinesis, Inc., a Delaware corporation (“CareKinesis”), and CK Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“Merger Sub”), pursuant to which Merger Sub was merged with and into CareKinesis (the “Merger”) and each issued and outstanding share of capital stock of CareKinesis was cancelled and converted into the right to receive one equivalent share of capital stock of the Company, and CareKinesis became a wholly-owned subsidiary of the Company.  This Tabula Rasa Healthcare, Inc. Leadership Exit Bonus Plan (the “Plan”) is being established in connection with the Merger to supersede and replace in its entirety the CareKinesis, Inc. Leadership Exit Bonus Plan (the “Prior Plan”) and to promote the interests of the Company by enabling employees to participate in a future Change of Control Transaction (as defined herein) or Initial Public Offering (as defined herein) through the establishment of a bonus pool based upon the Radius Proceeds (as defined herein) in connection with the Change of Control Transaction (as defined below) or Initial Public Offering, subject to the terms hereof.  The Plan is intended to be the Management Plan defined in the Radius Letter Agreement (as defined herein).  The Prior Plan is hereby terminated and superseded in its entirety by this Plan.  Capitalized terms not otherwise defined herein shall have the meanings given them under the Radius Letter Agreement.

 

(b)         The following terms shall have the meanings set forth below for purposes of the Plan:

 

“Board” means the Board of Directors of the Company or the Compensation Committee or other committee of the Board delegated the duty to administer this Plan.

 

“Change of Control Transaction” has the meaning set forth in the Company’s Certificate of Incorporation.

 

“Eligible Employee” means each executive of the Employer who the Board has determined to be eligible to participate in the Plan, and who is listed on Schedule A hereto.  The Eligible Employees may be modified from time to time as determined by the Board in its sole discretion.

 

 

“Employer” means the Company, CareKinesis and their affiliates, as applicable.

 

“Exit Bonus” has the meaning set forth in Section 2(b).

 

“Exit Bonus Pool” has the meaning set forth in Section 2(a).

 

“Initial Public Offering” has the meaning set forth in the Radius Letter Agreement.

 

“IPO Value” has the meaning set forth in the Radius Letter Agreement.

 

“Participant” means an Eligible Employee who is paid a bonus hereunder.

 

“Radius” means Radius Venture Partners III, L.P., Radius Venture Partners III QP, L.P. and Radius Venture Partners III (Ohio) L.P.

 

“Radius Letter Agreement” means that certain letter agreement, dated June 30, 2014, by and among Radius and the Company, the terms of which are incorporated herein by reference.

 

“Radius Proceeds” has the meaning set forth in the Radius Letter Agreement, including an Excluded Amounts as set forth in the Radius Letter Agreement.

 

2.              Exit Bonus.

 

(a)                                 Establishment of Exit Bonus Pool.  In the event of a Change of Control Transaction or Initial Public Offering, Radius may contribute to an exit bonus pool hereunder in an amount based on the Radius Proceeds or IPO Value from such Change of Control Transaction or Initial Public Offering, in each case pursuant to the terms and conditions of the Radius Letter Agreement (the “Exit Bonus Pool”).  In no event shall an Exit Bonus Pool be established with respect to any transaction that does not constitute a Change of Control Transaction or Initial Public Offering.

 

(b)                                 Grants under the Exit Bonus Pool.  Eligible Employees shall be eligible to receive a percentage of the Exit Bonus Pool or specified dollar amount in the event of a Change of Control Transaction or Initial Public Offering in such amount as determined in accordance with Section 2(c) below (the “Exit Bonus”), subject in all respects to the terms of the Plan.

 

(c)                                  Allocation of Exit Bonus Pool.  Each Eligible Employee employed by the Employer on the date of the Change of Control Transaction or Initial Public Offering shall be entitled to receive an Exit Bonus, equal to a percentage of the Exit Bonus Pool or specified dollar amount.  The percentage or specified dollar amount shall be determined by the Chief Executive Officer of the Company, in his sole discretion.

 

(d)                                 Condition of Eligibility.  Eligibility for an Exit Bonus under the Plan shall be made conditional upon the Eligible Employee’s acknowledgement, in writing or by acceptance of an Exit Bonus, that all decisions and determinations of the Board shall be final and binding on

 

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the Eligible Employee, his or her beneficiaries and any other person having or claiming an interest under the Plan.  Exit Bonuses need not be uniform as among the Eligible Employees.

 

3.              Payment of Awards.

 

(a)                                 Notwithstanding an Eligible Employee’s designation as such, in order to receive an Exit Bonus, an Eligible Employee must be employed by the Employer on the date of the Change of Control Transaction or Initial Public Offering.

 

(b)                                 Upon consummation of a Change of Control Transaction or Initial Public Offering, the Exit Bonuses shall be paid by the Employer in a lump sum payment in cash, securities and/or some other form of consideration to the Participants within 5 days following the date the Change of Control Transaction or Initial Public Offering is consummated, subject in all respects to the terms of the Plan and the contribution timing as set forth in the Radius Letter Agreement.

 

4.              Administration.

 

The Plan shall be administered by the Board.  The interpretation and construction by the Board of any provisions of the Plan or of any awards granted under it shall be final and conclusive.  No member of the Board shall be liable for any action taken or determination made with respect to the Plan or any awards granted under it.  No stockholder of the Company nor any employee or former employee of the Employer, or any beneficiary, shall have any claim or cause of action against the Employer, an officer of the Employer, the Board, Radius or any Radius affiliate on account of, by reason of, or arising out of the Board’s exercise of the discretionary power granted hereunder.

 

5.              Non-Transferability.

 

No award granted under this Plan may be transferred or disposed of in any way by an Eligible Employee, except by will or by the laws of descent and distribution.

 

6.              No Rights as Stockholder or Employee; No Right to Future Awards.

 

No Eligible Employee or Participant shall have any privileges of a stockholder of the Company with respect to an Exit Bonus, nor shall the Company have any obligation to issue any stock, pay any dividends or otherwise afford any rights to which holders of stock are entitled with respect to any such award. The granting of an award under the Plan shall not confer upon an Eligible Employee or Participant any right to continue as an employee, to receive future awards under the Plan, or to interfere in any way with the Employer’s right to terminate such Eligible Employee’s or Participant’s employment.  For purposes of clarification, eligibility to participate in the Plan shall not guarantee employment through the date of a Change of Control Transaction or Initial Public Offering.

 

7.              Withholding.

 

All Exit Bonus payments under the Plan shall be subject to applicable federal (including FICA), state and local tax withholding requirements.  The Employer may require that the

 

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Participant pay to the Employer the amount of any federal, state or local taxes that the Employer is required to withhold with respect to such Exit Bonus, or the Employer may deduct from other wages paid by the Employer the amount of any withholding taxes due with respect to the Exit Bonus.

 

8.              Amendment or Discontinuance of the Plan.

 

(a)                                 Prior to a Change of Control Transaction or Initial Public Offering, the Board may amend or terminate this Plan at any time and from time to time with the consent of a majority of the Eligible Employees hereunder; provided that consent shall not be required for any amendment that does not materially impair the rights or interests of an Eligible Employee under this Plan.  On or after a Change of Control Transaction or Initial Public Offering, the Board may not amend the Plan in a manner that materially impairs a Participant’s rights to or interest in an Exit Bonus without the Participant’s written consent.

 

(b)                                 Notwithstanding the foregoing, unless a Change of Control Transaction or Initial Public Offering has occurred, this Plan shall terminate on the date immediately preceding the 5th anniversary of its effective date, unless the Plan is terminated earlier by the Board in accordance with Section 8(a) above.

 

(c)                                  Notwithstanding anything herein to the contrary, each Eligible Employee hereby acknowledges and agrees that the Employer and Radius may amend, waive and/or terminate all or part of the Radius Letter Agreement at any time hereafter in their sole discretion.

 

9.              Section 409A.

 

The benefits provided under this Plan are intended to be subject to a “substantial risk of forfeiture” under Section 409A of the Internal Revenue Code, as amended and the regulations promulgated thereunder (the “Code”), and to be payable within the “short term deferral period” under Section 409A of the Code following lapse of the applicable forfeiture conditions.

 

10.       Governing Law.

 

The Plan shall be governed by the laws of the State of Delaware without regard to the conflicts of law principles thereof.

 

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SCHEDULE A

 

Eligible Employees

 

Calvin Knowlton

 

Orsula Knowlton

 

Brian Adams

 

Joseph Filippoli

 

Robert Alesiani

 

Michael Greenhalgh

 

A-1

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