Document:

Exhibit 10.1

EXHIBIT 10.1

2011 DECLARATION OF
AMENDMENT

TO

MIMEDX GROUP, INC. ASSUMED 2006 STOCK INCENTIVE PLAN

THIS 2011 DECLARATION
OF AMENDMENT, is made effective as of the 18th day of March, 2011,
by MIMEDX GROUP, INC. (the “Corporation”), to the MiMedx Group,
Inc. Assumed 2006 Stock Incentive Plan (the “Plan”).

R E C I T A L S:

WHEREAS, the Board of
Directors of the Company (the “Board”) has deemed it advisable to
increase the aggregate number of shares of Common Stock that may be issued
pursuant to Awards (as defined in the Plan) granted under the Plan from
8,500,000 shares to 9,500,000 shares;

WHEREAS,
Section 12 of the Plan authorizes the Board acting as the Administrator
(as defined in the Plan) to amend the Plan, provided that any amendment
required by Applicable Laws (as defined in the Plan) to be approved by the
Company’s shareholders shall be approved by the Company’s
shareholders;

WHEREAS, the Board of
the Company has deemed it advisable to amend the Plan as set forth herein; and

WHEREAS, the
Corporation desires to evidence such amendments by this 2011 Declaration of
Amendment.

NOW, THEREFORE, IT IS
DECLARED that, effective as of March 18, 2011, the Plan shall be and
hereby is amended as follows:

	 	 	 
	
1. 

	 	Amendment to Section 5(a).
Section 5(a) (“Shares of Stock Subject to the Plan”) of the
Plan is hereby amended by substituting “9,500,000” for 8,500,000 in
Section 5(a), so that Section 5(a) shall be amended as follows:

"(a) Shares of Stock Subject to the Plan. Subject to adjustments as provided in Section 5(d), the aggregate number of shares of Common Stock that may be issued pursuant to Awards granted under the Plan shall not exceed 9,500,000 shares. Shares delivered under the Plan shall be authorized but unissued shares, treasury shares or shares purchased on the open market or by private purchase. The Corporation hereby reserves sufficient authorized shares of Common Stock to meet the grant of Awards hereunder.”

	 	 	 
	
2. 

	 	Amendment to Section 5(b).
Section 5(b)(i) (“Award Limitations”) of the Plan shall be
amended by substituting “9,500,000” for “8,500,000,” so
that Section 5(b)(i) shall be amended as follows (with the remainder of
Section 5(b) being unchanged):

“(i) The maximum number of shares of Common Stock that may be issued to any one Participant under the Plan pursuant to the grant of Incentive Options shall not exceed 9,500,000 shares;”

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3. 

	 	Continued Effect. Except as set forth herein,
the Plan shall be unchanged and shall remain in full force and effect.

IN WITNESS WHEREOF,
this 2011 Declaration of Amendment is executed on behalf of MiMedx Group, Inc.
effective as of the day and year first above written.

MiMedx Group, Inc.

By: /s/ Michael
J.
Senken                         

Name:
Michael J. Senken

Title: Chief Financial Officer

ATTEST:

By:
/s/ Roberta L.
McCaw                           

Name:
Roberta L. McCaw

Title: Secretary and Treasurer

 

 

6exv10w13

EXHIBIT 10.13

HealthStream, Inc. (the “Company”)

Summary of Director and Executive Officer Compensation

I. Director Compensation. Directors who are employees of the Company do not receive additional
compensation for serving as directors of the Company. The following table sets forth current rates
of cash compensation for the Company’s non-employee directors.

	 	 	 	 	 
	Retainers and Fees	 	2011	 
	Annual Retainer fee
	 	$	2,000	 
	Board meeting fee
	 	$	1,000	 
	Committee chair meeting fee
	 	$	1,000	 
	Committee member meeting fee
	 	$	500	 

     In addition to the cash compensation set forth above, each non-employee director receives a
nondiscretionary annual grant of a non-qualified option for the purchase of 15,000 shares of the
Company’s common stock. The option is granted in connection with our Annual Meeting of
Shareholders, vests over a three year period, and has an exercise price equal to the fair market
value of the stock on the grant date.

II. Executive Officer Compensation. The following table sets forth the current base salaries and
the fiscal 2010 performance bonuses provided to our executive officers, including the individuals
who the Company expects to be its Named Executive Officers for 2011.

	 	 	 	 	 	 	 	 	 
	Executive Officer	 	Current Salary	 	 	Fiscal 2010 Bonus Amount	 
	Robert A. Frist, Jr.
	 	$	230,000	 	 	$	80,500	 
	Arthur E. Newman
	 	$	217,500	 	 	$	76,125	 
	J. Edward Pearson
	 	$	222,500	 	 	$	77,875	 
	Kevin P. O’Hara
	 	$	212,500	 	 	$	74,375	 
	Gerard M. Hayden, Jr.
	 	$	212,500	 	 	$	74,375	 
	Jeffrey S. Doster
	 	$	212,500	 	 	$	74,375	 
	Michael Sousa
	 	$	185,000	 	 	$	18,750	 

III. Additional Information. The foregoing information is summary in nature. Additional information
regarding Director and Named Executive Officer compensation will be contained in our proxy
statement for the 2011 Annual Meeting of Shareholders that we will file with the Securities and
Exchange Commission within 120 days of the end of the fiscal year to which this report relates.Exhibit 10(a)(16)

Exhibit 10(a)(16)

FEDERAL RESERVE BANK of NEW YORK

33 LIBERTY STREET, NEW YORK, NY 10045-0001

June 2, 2010

Mr. Angelo De Caro

Chairman

Patriot National Bancorp, Inc.

1177 Summer Street

Stamford, CT 06905

Dear Mr. De Caro:

Enclosed please find the executed Written Agreement for Patriot National Bancorp, Inc. Please
note the agreement is effective as of June 2, 2010. As a reminder, please do not disclose the
existence of this agreement until you have been notified of its publication on the Board of
Governors website.

Sincerely,

Armin Lovi

Examining Officer

Community Banks

t
212.720.5000 | f 212.720.6767 I e general.info@ny.frb.org I W www.newyorkfed.org

 

 

 

UNITED STATES OF AMERICA

BEFORE THE

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

WASHINGTON, D.C.

	 	 	 
	Written Agreement by and between
	 	 
	 
	 	 
	PATRIOT NATIONAL BANCORP, INC.

	 	Docket No. 10-085-WA/RB-HC
	Stamford, Connecticut
	 	 
	 
	 	 
	and
	 	 
	 
	 	 
	FEDERAL RESERVE BANK OF
	 	 
	NEW YORK.
	 	 
	New York, New York
	 	 

WHEREAS, Patriot National Bancorp, Inc., Stamford, Connecticut (“Bancorp”), a
registered bank holding company, owns and controls Patriot National Bank, Stamford,
Connecticut (the “Bank”), a national bank, and a nonbank subsidiary;

WHEREAS, it is the common goal of Bancorp and the Federal Reserve Bank of New York (the
“Reserve Bank”) to maintain the financial soundness of Bancorp so that Bancorp may serve as a
source of strength to the Bank;

WHEREAS, Bancorp and the Reserve Bank have mutually agreed to enter into this Written
Agreement (the “Agreement”); and

WHEREAS, on, May 19 duly constituted meeting, adopted a resolution authorizing and
directing Angelo De Caro to enter into this Agreement on behalf of Bancorp, and consenting
to compliance with each and every provision of this Agreement by Bancorp and its
institution-affiliated parties, as defined in sections 3(u) and 8(b)(3) of the Federal
Deposit Insurance Act, as amended (the “FDI Act”) (12 U.S.C. §§ 1813(u) and 1818(b)(3)).

 

 

 

NOW, THEREFORE, Bancorp and the Reserve Bank agree as follows:

Source of Strength

1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s
financial and managerial resources, pursuant to section 225.4(a) of Regulation Y of the Board of
Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to
serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure
that the Bank complies with the Formal Agreement entered into with the Office of the Comptroller
of the Currency on February 9, 2009 and any other supervisory action taken by the Bank’s federal
regulator.

Dividends and Distribution

2. (a) Bancorp shall not declare or pay any dividends without the prior written approval of
the Reserve Bank and the Director of the Division of Banking Supervision and Regulation (the
“Director”) of the Board of Governors.

(b) Bancorp shall not directly or indirectly take dividends or any other form of payment
representing a reduction in capital from the Bank without the prior written approval of the Reserve
Bank.

(c) Bancorp and its nonbank subsidiary shall not make any distributions of interest,
principal, or other sums on subordinated debentures or trust preferred securities without the
prior written approval of the Reserve Bank and the Director.

(d) All requests for prior approval shall be received by the Reserve Bank at least 30 days
prior to the proposed dividend declaration date, proposed distribution on subordinated
debentures, and required notice of deferral on trust preferred securities. All requests shall
contain, at a minimum, current and projected information on Bancorp’s capital, earnings, and
cash flow; the Bank’s capital, asset quality, earnings, and allowance for loan and lease
losses; and identification of the sources of funds for the proposed payment or distribution.
For requests to declare or pay dividends, Bancorp must also demonstrate that the requested
declaration or payment of
dividends is consistent with the Board of Governors’ Policy Statement on the Payment of
Cash Dividends by State Member Banks and Bank Holding Companies, dated November 14, 1985
(Federal Reserve Regulatory Service, 4-877 at page 4-323).

 

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Debt and Stock Redemption

3. (a) Bancorp and any nonbank subsidiary shall not, directly or indirectly, incur, increase,
or guarantee any debt without the prior written approval of the Reserve Bank. All requests for
prior written approval shall contain, but not be limited to, a statement regarding the purpose of
the debt, the terms of the debt, and the planned source(s) for debt repayment, and an analysis of
the cash flow resources available to meet such debt repayment.

(b) Bancorp shall not, directly or indirectly, purchase or redeem any shares of its stock
without the prior written approval of the Reserve Bank.

Capital Plan

4. Within 60 days of this Agreement, Bancorp shall submit to the Reserve Bank an acceptable
written plan to maintain sufficient capital at Bancorp on a consolidated basis. The plan shall,
at a minimum, address, consider, and include:

(a) The consolidated organization’s and the Bank’s current and future capital requirements,
including compliance with the Capital Adequacy Guidelines for Bank Holding Companies: Risk-Based
Measure and Tier 1 Leverage Measure, Appendices A and D of Regulation Y of the Board of Governors
(12 C.F.R. Part 225, App. A and D) and the applicable capital adequacy guidelines for the Bank
issued by the Bank’s federal regulator;

(b) the adequacy of the Bank’s capital, taking into account the volume of classified credits,
its risk profile, the adequacy of the allowance for loan and lease losses, current and projected
asset growth, and projected earnings;

(c) the source and availability of additional funds necessary to fulfill the
consolidated organization’s and the Bank’s figure capital requirements on a
timely basis;

 

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(d) supervisory requests for additional capital at the Bank or the requirements of any
supervisory action imposed on the Bank by its federal regulator; and

(e) the requirements of section 225.4(a) of Regulation Y of the Board of Governors that
Bancorp serve as a source of strength to the Bank.

5. Bancorp shall notify the Reserve Bank, in writing, no more than 30 days after the end of
any quarter in which any of Bancorp’s capital ratios fall below the approved plan’s minimum ratios.
Together with the notification, Bancorp shall submit an acceptable written plan that details the
steps that Bancorp will take to increase Bancorp’s capital ratios to or above the approved plan’s
minimums.

Compliance with Laws and Regulations

6. (a) In appointing any new director or senior executive officer, or changing the
responsibilities of any senior executive officer so that the officer would assume a different
senior executive officer position, Bancorp shall comply with the notice provisions of section 32 of
the FDI Act (12 U.S.C. § 1831i) and Subpart H of Regulation Y of the Board of Governors (12 C.F.R.
§§ 225.71 et seq.).

(b) Bancorp shall comply with the restrictions on indemnification and severance payments of
section 18(k) of the FDI Act (12 U.S.C. § 1828(k)) and Part 359 of the Federal Deposit Insurance
Corporation’s regulations (12 C.F.R. Part 359).

Progress Reports

7. Within 30 days after the end of each calendar quarter following the date of this
Agreement, the board of directors shall submit to the Reserve Bank written progress reports
detailing the form and manner of all actions taken to secure compliance with the provisions of
this Agreement and the results thereof, and a parent company only balance sheet, income
statement,
and, as applicable, report of changes in stockholders’ equity.

 

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Approval and Implementation of Plan

8. (a) Bancorp shall submit a written capital plan that is acceptable to the Reserve
Bank within the applicable time period set forth in paragraph 3 of this Agreement.

(b) Within 10 days of approval by the Reserve Bank, Bancorp shall adopt the approved capital
plan. Upon adoption, Bancorp shall promptly implement the approved plan, and thereafter fully
comply with it.

(c) During the term of this Agreement, the approved capital plan shall not be amended or
rescinded without the prior written approval of the Reserve Bank,

Communications

9. All communications regarding this Agreement shall be sent to:

	 	(a)	 	Anita Awatramani

Senior Bank Examiner

Federal Reserve Bank of New York 33

Maiden Lane

New York, New York 10045

	 
	 	(b)	 	Angelo De Caro

Chairman

Patriot National Bancorp, Inc. 900

Bedford Street

Stamford, Connecticut 06901

Miscellaneous

10. Notwithstanding any provision of this Agreement, the Reserve Bank may, in its sole
discretion, grant written extensions of time to Bancorp to comply with any provision of this
Agreement.

11 The provisions of this Agreement shall be binding upon Bancorp and its
institution-affiliated parties, in their capacities as such, and their successors and
assigns.

12. Each provision of this Agreement shall remain effective and enforceable until
stayed, modified, terminated, or suspended in writing by the Reserve Bank.

 

6

 

13. The provisions of this Agreement shall not bar, estop, or otherwise prevent the Board
of Governors, the Reserve Bank, or any other federal or state agency from taking any other
action affecting Bancorp, the Bank, any nonbank subsidiary of Bancorp, or any of their current
or former institution-affiliated parties and their successors and assigns.

14. Pursuant to section 50 of the FDI Act (12 U.S.C. § 1831aa), this Agreement is
enforceable by the Board of Governors under section 8 of the FDI Act (12 U.S.C. § 1818).

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the 2
day of June, 2010.

	 	 	 	 	 	 	 	 	 
	PATRIOT NATIONAL BANCORP, INC.

	 	 	 	FEDERAL RESERVE BANK OF NEW YORK

	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Angelo De Caro
 

Angelo De Caro
	 	 	 	By:
	 	/s/ Armin Lovi MD
 
Armin
Lovi
	 

	 	Chairman
	 	 	 	 	 	Examining Officer

 

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