Document:

Exhibit 10.1

 

 

 

 

 

INFOCUS CORPORATION

 

2006 RESTATED

CORPORATE EXECUTIVE

SEVERANCE PAY PLAN

AND

SUMMARY PLAN DESCRIPTION

 

 

INFOCUS
CORPORATION

2006 RESTATED CORPORATE EXECUTIVE

SEVERANCE PAY PLAN

AND

SUMMARY PLAN DESCRIPTION

TABLE OF CONTENTS

 

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
  INDEX OF DEFINED TERMS

  	
   

  	
  ii

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  PART A

  	
   

  	
  PREAMBLE

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1

  	
   

  	
  Intent and Purpose

  	
   

  	
  1

  
	
  2

  	
   

  	
  Effective Dates

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  PART B

  	
   

  	
  TERMS AND CONDITIONS

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1

  	
   

  	
  Eligibility

  	
   

  	
  1

  
	
  2

  	
   

  	
  Payment Events

  	
   

  	
  1

  
	
  3

  	
   

  	
  Severance Benefits

  	
   

  	
  1

  
	
  4

  	
   

  	
  Payment Commencement Date

  	
   

  	
  2

  
	
  5

  	
   

  	
  Release and Waiver Agreement

  	
   

  	
  2

  
	
  6

  	
   

  	
  Salary Continuation Severance Benefit

  	
   

  	
  2

  
	
  7

  	
   

  	
  COBRA Premium Equivalent Payment

  	
   

  	
  3

  
	
  8

  	
   

  	
  Outplacement Benefits

  	
   

  	
  3

  
	
  9

  	
   

  	
  Conditions to Benefit Payments

  	
   

  	
  4

  
	
  10

  	
   

  	
  “Good Reason”

  	
   

  	
  6

  
	
  11

  	
   

  	
  “Change in Control” Exception

  	
   

  	
  7

  
	
  12

  	
   

  	
  “Cause”

  	
   

  	
  8

  
	
  13

  	
   

  	
  Withholding

  	
   

  	
  9

  
	
  14

  	
   

  	
  280G Adjustment

  	
   

  	
  9

  
	
  15

  	
   

  	
  Death Benefit

  	
   

  	
  9

  
	
  16

  	
   

  	
  Amendment or Termination

  	
   

  	
  9

  
	
  17

  	
   

  	
  Transition Election

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  PART C

  	
   

  	
  ADMINISTRATIVE AND GENERAL PROVISIONS

  	
   

  	
  10

  
	
   

  	
   

  	
   

  
	
  PART D

  	
   

  	
  STATEMENT OF ERISA RIGHTS

  	
   

  	
  14

  
	
   

  	
   

  	
   

  

 

 

INDEX OF

DEFINED TERMS

 

	
  Beneficiary

  	
   

  	
  Part B, Section 15

  
	
   

  	
   

  	
   

  
	
  Board of
  Directors

  	
   

  	
  Part B, Section 1

  
	
   

  	
   

  	
   

  
	
  Business

  	
   

  	
  Part B, Section 9.b.(i)

  
	
   

  	
   

  	
   

  
	
  Cause

  	
   

  	
  Part B, Section 12

  
	
   

  	
   

  	
   

  
	
  Change in
  Control

  	
   

  	
  Part B, Section 11

  
	
   

  	
   

  	
   

  
	
  Code

  	
   

  	
  Part A, Section 2

  
	
   

  	
   

  	
   

  
	
  Company

  	
   

  	
  Part A, Section 1

  
	
   

  	
   

  	
   

  
	
  Compensation

  	
   

  	
  Part B, Section 6.c

  
	
   

  	
   

  	
   

  
	
  Competitive
  Entity

  	
   

  	
  Part B, Section 9.b.(i)

  
	
   

  	
   

  	
   

  
	
  Date of
  Termination

  	
   

  	
  Part B, Section 5.d

  
	
   

  	
   

  	
   

  
	
  Effective Date

  	
   

  	
  Part A, Section 2

  
	
   

  	
   

  	
   

  
	
  ERISA

  	
   

  	
  Part D

  
	
   

  	
   

  	
   

  
	
  Excess Parachute
  Payment

  	
   

  	
  Part B, Section 14

  
	
   

  	
   

  	
   

  
	
  Exchange Act

  	
   

  	
  Part B, Section 11.a.(i)

  
	
   

  	
   

  	
   

  
	
  Excise Tax

  	
   

  	
  Part B, Section 14

  
	
   

  	
   

  	
   

  
	
  Executive

  	
   

  	
  Part B, Section 1

  
	
   

  	
   

  	
   

  
	
  Good Reason

  	
   

  	
  Part B, Section 10

  
	
   

  	
   

  	
   

  
	
  InFocus

  	
   

  	
  Part A, Section 1

  
	
   

  	
   

  	
   

  
	
  Management
  Change in Control

  	
   

  	
  Part B, Section 11.b

  
	
   

  	
   

  	
   

  
	
  Payment
  Commencement Date

  	
   

  	
  Part B, Section 4

  
	
   

  	
   

  	
   

  
	
  Person

  	
   

  	
  Part B, Section 11.a.(i)

  
	
   

  	
   

  	
   

  
	
  Plan

  	
   

  	
  Part A, Section 1

  
	
   

  	
   

  	
   

  

 

 

 

	
  Plan Administrator

  	
   

  	
  Part C, Section 1

  
	
   

  	
   

  	
   

  
	
  Plan Year

  	
   

  	
  Part C, Section 7

  
	
   

  	
   

  	
   

  
	
  Specified
  Employee

  	
   

  	
  Part B, Section 9.e

  
	
   

  	
   

  	
   

  
	
  Tax Counsel

  	
   

  	
  Part B, Section 14

  
	
   

  	
   

  	
   

  
	
  Top Hat Welfare
  Plan

  	
   

  	
  Part C, Section 8

  

 

 

2006 RESTATED
CORPORATE EXECUTIVE SEVERANCE

PAY PLAN

AND

SUMMARY PLAN DESCRIPTION

Approved November 28, 2006

PART A. PREAMBLE

1.                                      Intent and Purpose. This is the
restatement of the InFocus Executive Severance Pay Plan (the “Plan”). It is
intended to foster the continued employment of key management employees of
InFocus Corporation (“InFocus”) and its affiliates (collectively the “Company”).

2.                                      Effective Dates. The Plan was
originally effective April 10, 2000. This restatement is generally effective
immediately upon the approval date stated in the caption. However, provisions
that reference Internal Revenue Code (“Code”) Section 409A or are otherwise
required or intended to comply with Code Section 409A are effective retroactive
to January 1, 2005.

PART B. TERMS AND CONDITIONS

1.                                      Eligibility. This Plan is
limited to officers of the Company with a grade level of E-30 (Vice-Presidents
and above) who have been selected by the Board of Directors of InFocus (“Board”)
for coverage under this Plan (“Executive”). The Board shall notify InFocus’s
Director, Human Resources & Facilities of the selection of an Executive for
participation in this Plan. The Director, Human Resources & Facilities
shall maintain a list of the Executives who have been selected for
participation in the Plan and the date their coverage began.

2.                                      Payment Events. Benefits will be
paid under this Plan only to those Executives:

a.                                       Whose
employment is involuntarily terminated other than for Cause (as defined in
Section 12 below); or

b.                                      Who
resign with Good Reason within 18 months of a Change in Control (as defined in
Sections 10 and 11 below, respectively).

3.                                      Severance Benefits. An Executive
whose employment terminates under one of the circumstances described in Section
2 above, shall, subject to the conditions of Sections 4 and 9.b. below, receive
the following severance benefits under this Plan:

a.                                       The
salary continuation severance benefit under Section 6 below;

b.                                      The
COBRA premium equivalent payment under Section 7 below; and

 

c.                                       Outplacement
benefits under Section 8 below.

4.                                      Payment
Commencement Date. Subject to the six-month delay in payment under Section
9.e. below for certain Executives, payment of the severance benefits under this
Plan will begin on the eighth business day after the Executive has returned to
the Plan Administrator a signed Release and Waiver Agreement (as provided under
Section 5 below), or as soon as administratively feasible thereafter (the “Payment
Commencement Date”), provided:

a.                                       Neither party has
revoked the Release and Waiver Agreement during the seven-day rescission period
that begins on the day after the Executive returns the signed agreement to the
Plan Administrator; and

b.                                      The
Executive is then in compliance with Section 9.b. below.

5.                                      Release
and Waiver Agreement.

a.                                       The Release and
Waiver Agreement shall be in the form shown in the Addendum to this Agreement.
The Executive may use the form attached to this Agreement or may obtain an
additional form from the Plan Administrator.

b.                                      The Executive
shall have 45 days from the Executive’s Date of Termination to consider and
return the Release and Waiver Agreement. Absent extenuating circumstances
acceptable to the Plan Administrator, failure to return that Agreement within
45 days will result in a forfeiture of any benefits payable under this Plan.

c.                                       A Release and
Waiver Agreement will be deemed returned to the Plan Administrator on the date
it is actually delivered or the date it is postmarked if sent by first class
U.S. mail.

d.                                      “Date
of Termination” means the effective date of the Executive’s termination of
employment with the Company.

6.                                      Salary
Continuation Severance Benefit. The salary continuation severance benefit
will be paid as follows:

a.                                       Gross
Amount of Benefit:

(i)                                     For
Executive Vice President, Sr. Vice President and Vice President-level
employees: 12 months of Compensation.

(ii)                                  For
CEO or President-level Executives:  24
months of Compensation.

 

b.                                      Payment
Terms.

(i)                                     Subject
to the Executive’s initial and ongoing compliance with Section 9.b. below,
payments will begin on the Payment Commencement Date and the remaining 11 or 23
payments, as applicable, will be paid in equal monthly installments on the
Company’s regular payroll dates.

(ii)                                  Payments are
subject to:

(I)                                    Withholding
under Section 13 below; and

(II)                                The
280G adjustment under Section 14 below.

c.                                       “Compensation” means the Executive’s
annual base salary as of the Date of Termination or, if applicable, the date
the Executive is notified of the involuntary termination, whichever is greater,
and, as such, excludes any bonus, profit share pay, target sales commissions or
other types of remuneration.

7.                                      COBRA Premium Equivalent Payment. The
COBRA premium equivalent payment will be paid as follows:

a.                                       Gross
Amount of Payment. The Executive will receive a single lump sum cash payment
equal to the estimated premiums for the COBRA coverage that the Executive would
be entitled to elect under the Company’s group health policy for the following
period:

(i)                                     For Executive Vice
President, Sr. Vice President and Vice President-level employees: 12 months.

(ii)                                  For CEO or
President-level Executives: 24 months.

b.                                      Payment
Terms.

(i)                                     The lump-sum
payment will be made on the Payment Commencement Date.

(ii)                                  The payment is
subject to withholding under Section 13 below.

8.                                      Outplacement
Benefits. The Executive will be entitled to receive executive-level
outplacement services for up to 12 months from the Payment Commencement Date.
These services will be provided by an outplacement consulting service provider
selected or approved by the Plan Administrator. The Company will pay the
service provider directly for these benefits. The Executive will not have an
option to receive cash in lieu of these outplacement benefits.

 

9.                                      Conditions
to Benefit Payments.

a.                                       No
mitigation shall be required, and, except as provided in subparagraph b.(i)
below, no reduction shall be made if an Executive finds employment during the
payout period.

b.                                      All
benefits under this Plan shall cease and the Company shall have no payment
obligation to or on behalf of the Executive if:

(i)                                     The
Executive, directly or indirectly, owns, has any interest in, acts as an
officer, director, agent, employee or consultant of, or assists in any way or
in any capacity any person, firm, association, partnership, corporation or
other entity which engages or proposes to engage in any business competitive
with the Business (as defined below) of InFocus in any geographical area where
InFocus engages in such business (a “Competitive Entity”). The restrictions of
this section prohibiting ownership in a Competitive Entity shall not apply to
Executive’s ownership of less than one percent (1%) of publicly traded
securities of any Competitive Entity. The “Business” is defined as the
manufacture, distribution or development of data/video projectors or components
thereof;

(ii)                                  The Executive
induces, asks, solicits, or attempts to induce, ask, or solicit, directly,
indirectly, or by assisting others, any person who is in the Company’s
employment or providing services to the Company, to leave such employment or
business relationship and, as a result, said person actually does leave the
employment or business relationship with the Company, unless the Executive
receives prior written consent from the Company;

(iii)                               The Executive
materially breaches:

(I)                                    The
Business Protection Agreement (or any successor proprietary information,
assignment of invention and/or confidentiality agreement(s)) or any other
agreements or Company policies regarding the protection of the Company’s trade
secrets or proprietary or confidential information; or

(II)                                The
Executive’s common law duty to protect the Company’s proprietary or
confidential information; or

 

(iv)                              The
Executive’s employment is terminated due to the Executive’s death or
disability; provided, however, that once an Executive becomes entitled to
severance benefits hereunder, any subsequent death or disability of the
Executive during the relevant severance benefit payment period will not impair
or terminate the severance benefits.

c.                                       Nothing contained
in this Plan is designed to limit in any manner any additional legal or
equitable remedies that the Company may have against the Executive for
violation of his or her contractual or legal obligations regarding
confidentiality, competition or solicitation.

d.                                      If the Executive
is found to have violated any of the provisions within subparagraph b.(i), (ii)
or (iii) above, the Company has the right to recover from the Executive, and
the Executive shall repay, all payments made to him/her through the date of the
failure to conform with such provisions.

e.                                       Payments of the
salary continuation severance benefit or the COBRA premium equivalent payment
may not be made to an Executive who is a CEO or President-level Executive
before the date which is six months after the date of the Executive’s Date of
Termination. The first payment shall be made on the first business day
following such six-month period and shall consist of all payments that would
have been made absent the six-month suspension. This subparagraph also applies
to any other Executive whose severance benefits may become subject to the
six-month delay provision applicable to a “specified employee” (as defined in
Code Section 409A(a)(2)(B) and the applicable regulations).

f.                                         Nothing herein
affects, modifies or amends any benefit that may be available under any other
plan, agreement or other Company policy that is either in effect on the date
this Plan is approved or that will be in effect on the date the notice of
termination is sent by the Company to the Executive or, if applicable, by the
Executive to the Company.

g.                                        Payments
to an Executive hereunder may not be accelerated except to the extent that the
accelerated payment is:

(i)                                     Allowed
under Code Section 409A and the applicable regulations; and

(ii)                                  Approved
by the Plan Administrator.

h.                                      Any
payment due under this Plan will be delayed if, in the opinion of the Company’s
counsel or accountants, that payment would violate:

 

(i)                                     A
term of a loan agreement or other similar contract to which the Company is a
party but only if:

(I)                                    That
violation will cause material harm to the Company; and

(II)                                The
Company has first made a good faith effort to have the lender waive that term
and the lender has refused to do so; or

(ii)                                  Federal
securities laws or other applicable law.

Payment of the delayed payment must be made at the
earliest date at which, in the opinion of the Company’s counsel or accountants,
the payment would not cause such a violation or, in the case of a violation
under subparagraph h.(ii) above, such violation will not cause material harm to
the Company.

10.                               “Good
Reason.” Subject to the notice requirement in paragraph b. below, “Good Reason”
shall mean:

a.                                       The
occurrence, within 18 months after a Change in Control (and without the
Executive’s written consent), of any one of the following acts by the Company,
or failures by the Company to act:

(i)                                     The
assignment to the Executive of any material duties inconsistent with Executive’s
status at the time of the Change in Control, or a substantial adverse
alteration in the nature and status of Executive’s responsibilities as existed
immediately prior to the Change in Control; or

(ii)                                  Any
material reduction by the Company in the Executive’s annual base salary as in
effect immediately prior to the Change in Control; or

(iii)                               The failure by the
Company to pay to the Executive any portion of Executive’s current salary or
incentive compensation within ten (10) days of the date such compensation is
due; or

(iv)                              The
failure by the Company to:

(I)                                    Continue
in effect any compensation plan in which the Executive participates immediately
prior to the Change in Control which is material to the Executive’s total
compensation; or

 

(II)                                Continue
the Executive’s participation therein (or in such substitute or alternative
plan) on a basis not materially less favorable, both in terms of the amount or
timing of payment of benefits provided and the level of the Executive’s
participation relative to other participants, as existed immediately prior to
the Change in Control; or

(v)                                 The failure by
the Company to continue to provide the Executive with benefits substantially
similar to those enjoyed by the Executive under any of the Company’s retirement
savings, life insurance, medical, health and accident, vacation, paid time off
or disability plans in which the Executive was participating immediately prior
to the Change in Control; or

(vi)                              The relocation of
the Executive’s principal place of employment to a location more than 35 miles
from the Executive’s principal place of employment as of the Change in Control
except for required travel on the Company’s business to an extent substantially
consistent with the Executive’s business travel obligations immediately prior
to the Change in Control.

b.                                      Notwithstanding
the foregoing, no event shall constitute “Good Reason” unless the Executive
shall have notified the Company in writing of the conduct allegedly
constituting Good Reason and the Company shall have failed to correct such
conduct within thirty (30) days of the date of its receipt of such written
notice from the Executive.

11.                               “Change
in Control;” Exception.

a.                                       Except
as provided in paragraph b. below, for purposes of this Plan, “Change in Control”
shall mean:

(i)                                     Any “person” as
such term is defined in Sections 3(a)(9) and 13(d)(3) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), other than a trustee or
other fiduciary holding securities under an employee benefit plan of the
Company, is or becomes a beneficial owner (within the meaning of Rule 13d-3
promulgated under the Exchange Act), directly or indirectly, of securities of
the Company, representing twenty five percent (25%) or more of the combined
voting power of the Company’s then outstanding securities; provided, that the
foregoing shall not include a person who acquires such securities, or a
material portion thereof, as the result of one or more transactions approved by
the Company’s Board as the result of the issuance of shares by the Company in
one or more transactions approved by the Company’s Board of Directors; or

 

 

(ii)                                  A majority of the Directors elected at any annual or
special meeting of the shareholders of the Company are not individuals
nominated by the Company’s then incumbent Board; or

(iii)                               The shareholders
of the Company approve a reorganization, merger or consolidation of the Company
with any other corporation or entity, other than a reorganization, merger or
consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving
entity) at least fifty-one percent (51%) of the combined voting power of the
voting securities of the Company or such surviving entity outstanding
immediately after such reorganization, merger or consolidation; or

(iv)                              The shareholders
of the Company approve a plan of complete liquidation of the Company or an
agreement for the sale or disposition by the Company of all or substantially
all of its assets.

b.                                      Notwithstanding
the foregoing, a Change in Control shall not be deemed to occur in the event of
a Management Change in Control. A “Management Change in Control” shall mean a
Change in Control pursuant to which Executive (alone or with others) acquires
or retains, directly or indirectly, the power to direct or cause the direction
of the management and policies of the Company (whether through the ownership of
voting securities, by contract, or otherwise).

12.                               “Cause.”
For purposes of this Plan, the Company shall have “Cause” to terminate the
Executive’s employment with the Company upon the Executive’s:

a.                                       Conviction for
the commission of a felony;

b.                                      Intentional
or grossly negligent conduct that is demonstrably and significantly injurious
to the Company or its affiliates;

c.                                       Self-dealing,
dishonesty, breach of fiduciary duty, or diversion of a corporate opportunity
to the detriment of the Company;

d.                                      Competition with the Company; or

e.                                       Violation of a key Company policy (i.e., acts of harassment or
discrimination, or use of unlawful drugs or drunkenness on Company property
during normal work hours).

 

 

13.                               Withholding. Payments made under this Plan are subject to
the withholding of income and payroll taxes and other payroll deductions that
the Plan Administrator reasonably believes are required under applicable law or
regulations.

14.                               280G Adjustment. The parties intend that payments made under
this Plan, when combined with all other compensatory payments, will be limited
to avoid the application of the excise tax imposed under Code Section 4999 (the
“Excise Tax”). Therefore, notwithstanding anything in this Plan to the
contrary, if, in the opinion of independent tax accountants or counsel selected
and retained by the Company and reasonably acceptable to the Executive
(referred to hereinafter as “Tax Counsel”), any portion of the payment to the
Executive under this Plan or any other agreement between the Executive and the
Company is to be treated as an Excess Parachute Payment under Code Section
280G, then the Company shall reduce the total amount of the payment. The
reduction amount shall be an amount sufficient to ensure that no part of the
payment received shall be treated as an Excess Parachute Payment or create an
Excise Tax liability. If the amount of any payment which would be payable to or
for the benefit of the Executive is reduced to comply with this Section, the
reduction shall apply to the last payments due under the Plan’s payment
schedule.

15.                               Death Benefit. If an Executive becomes entitled to severance
benefits under this Plan but dies before those benefits are fully distributed,
the remaining benefits shall be paid to the Executive’s Beneficiary, as
determined under the Company’s group life insurance plan, regardless of whether
the Executive qualifies for coverage under that plan at that time. If the
Executive loses coverage under the group life insurance plan, that plan’s
procedures for changing Beneficiaries and for determining who is the Executive’s
Beneficiary or Beneficiaries will continue to be followed, except that any required
forms or notices shall be filed with the Plan Administrator rather than the
group life insurance carrier.

16.                               Amendment or Termination.

a.                                       The
Plan Administrator may adopt any technical, clerical, conforming or clarifying
amendment or other change, either prospectively or retroactively, which may be
necessary or desirable to facilitate the administration of the Plan or comply
with changes in the tax laws or accounting rules. However, if such a
modification to the Plan would substantially increase the costs of the Plan to
the Company, that modification must be adopted by the Board. Any formal
amendment adopted by the Plan Administrator shall be in writing, signed by the
Plan Administrator and reported to the Board. Amendments under this paragraph a.
do not require the consent of the Executives.

 

b.                                      The
Board may amend the Plan at any time to reduce the benefits payable to any one
or more Executives if, in the opinion of InFocus’s counsel or accountants,
changes in the tax laws or accounting rules would materially increase the cost
of the Plan over its then currently anticipated level. The reduction in
benefits will be made only to the extent necessary to bring the Plan’s cost
down to its then currently anticipated level.

c.                                       As
to any Executive, the Board may amend the Plan at any time with that Executive’s
consent.

d.                                      The
Board may terminate the Plan at any time with respect to one or more
Executives, provided:

(i)                                     An
affected Executive consents to the termination; and

(ii)                                  The
termination complies with the applicable requirements of Code Section 409A.

17.                               Transition Election. The
Compensation Committee of the Board may, in its discretion, make available to
any Executive or Executives any of the elections in the transition rules set
forth in IRS Notice 2005-1 and any further guidance under Code Section 409A.

PART C.
ADMINISTRATIVE AND GENERAL PROVISIONS

1.                                       The
Plan Administrator is a committee comprised of InFocus’s Chief Financial
Officer, the Chair of the Compensation Committee of the Board and, in the case
of a tie, the Lead Independent Director. In a claim involving the Chief
Financial Officer, the Chief Financial Officer shall be recused and replaced by
the Lead Independent Director, with any tie vote resolved by the full Board.

The
contact information for the Plan Administrator is:

Plan Administrator

Corporate Executive Severance Pay Plan

c/o Chief Financial Officer

InFocus Corporation

27500 SW Parkway Avenue

Wilsonville, OR 97070

2.                                       Subject
to the rules and procedures set forth in Section 10 below, the Plan
Administrator shall have full power to interpret and administer the Plan. In so
administering the Plan, the decisions and actions of the Plan Administrator
shall be final. The Plan Administrator shall also have the sole authority and
discretion:

 

a.                                       To
enforce the Plan on behalf of any and all persons having or claiming any
interest under the Plan;

b.                                      To adopt such
policies, rules, and regulations as it may deem necessary or desirable to carry
out the provisions of the Plan, which policies, rules and regulations may be
changed from time to time;

c.                                       To decide all
questions arising in the administration and interpretation of the Plan,
including issues of fact, and the status and rights of Participants,
beneficiaries, and any other person hereunder;

d.                                      To
prescribe forms which are necessary or desirable for use in connection with the
operation of the Plan;

e.                                       To decide any
dispute arising hereunder. The decisions and determinations of the Plan
Administrator made in good faith upon any matter within the scope of its
authority shall be conclusive and binding on all persons, subject to the right
to appeal to the Board; and

f.                                         To delegate such
of its duties as it shall determine appropriate to persons or entities who
shall acknowledge in writing that they have accepted such delegation of such
duties.

3.                                       Plan
benefits are not assignable and are void if assignment is attempted. All
benefits under the Plan will be paid from the general assets of the Company and
no trust fund, escrow arrangement or other segregated account will be
established. Accordingly, Executives entitled to receive severance benefits
under the Plan will have no priorities over the claims of the Company’s general
creditors.

4.                                       The
provisions of this Plan are severable. In the event any provision or portion of
this Plan is held to be unenforceable or invalid by any court of competent
jurisdiction, the remainder of this Plan shall remain in full force and effect
and shall in no way be affected or invalidated thereby.

5.                                       The
Plan Number for ERISA reporting purposes is 501.

6.                                       The
Plan is self-administered, self-insured and unfunded (that is, benefits are
payable solely from the applicable Company’s general assets or, if an affiliate
is unable to meet its payment obligations under this Plan, those payments shall
be made from InFocus’s general assets).

7.                                       The
Plan Year is January 1 through December 31 and Plan records will be kept on a
calendar fiscal year basis.

 

8.                                       The type of Plan
is a Welfare Plan — Severance Pay. This Plan is intended to be a “top hat”
welfare plan within the meaning of Department of Labor Reg. § 2520.104 24
(exemption from ERISA reporting and disclosure requirements).

9.                                       Legal process may
be served on:

Chief Financial Officer

InFocus Corporation

27500 SW Parkway Avenue

Wilsonville, OR 97070

10.                                 The following
rules apply to benefit claims and the authority of Plan fiduciaries:

a.                                       All claims by the
Executive for benefits under this Plan shall be directed to the Plan
Administrator and shall be in writing. Any denial by the Plan Administrator of
a claim for benefits under this Plan or any denial by the Board of an appeal of
a denied claim shall be delivered to the Executive in writing and shall set
forth the specific reasons for the denial, the specific provisions of this Plan
relied upon, a description of any additional material or information necessary
for the claimant to perfect the claim, an explanation of why such material is
necessary, and appropriate information as to the steps to be taken if he/she
wishes to submit the claim for review. The Executive may appeal to the Board an
initial decision of the Plan Administrator within 60 days after notification by
the Plan Administrator that the initial claim has been denied. In the event a
participant disputes a decision of the Board on the appeal, he/she shall have
the right to review by a court of competent jurisdiction (as defined in
paragraph g. below).

b.                                      This Plan confers
full discretionary authority on Plan fiduciaries with regard to the operations
of this Plan, including the discretion to make findings of fact and determine
the sufficiency of the evidence presented regarding a claim, interpret and
construe the provisions of the Plan and related Plan administrative documents
(including words and phrases that are not defined in the Plan, or those
documents) and correct any defect, supply any omission or reconcile any
ambiguity or inconsistency.

c.                                       A decision by the
Plan Administrator or a decision by the Board on an appeal of a denied claim is
required to be supported by substantial evidence only. That is, proof by a
preponderance of the evidence, by clear and convincing evidence or beyond a
reasonable doubt is not required.

 

d.                                      A court of law or
arbitrator reviewing any fiduciary’s decision, including those relating to Plan
interpretation and benefit claims, shall be required to use the arbitrary and
capricious standard of review. That is, the fiduciary’s determination may be
reversed only if it was made in bad faith, is not supported by substantial
evidence, or is erroneous as to a question of law.

e.                                       In conducting its
review of a fiduciary’s decision, a court or arbitrator shall be limited to the
record of documents, testimony and facts presented to or actually known to the
fiduciary at the time the decision was made.

f.                                         This Plan shall
be construed and its validity determined according to the laws of the State of
Oregon, other than its law regarding conflicts of law or choice of law, to the
extent not preempted by federal law.

g.                                      Any litigation
that arises out of or relates to this Plan shall be brought, as applicable, in
either the United States District Court for the District of Oregon or the
Circuit Court, Clackamas County, Oregon. The Company is not required to mediate
or arbitrate any dispute that arises out of or relates to this Plan. If it
agrees to do so, that mediation or arbitration shall be held in Clackamas
County, Oregon, or at such other location as mutually agreeable to the parties.

11.                                 The
following provisions apply regarding the payment of attorneys’ fees:

a.                                       If any breach of
or default under this Plan results in either party incurring attorneys’ or
other fees, costs or expenses (including those incurred in an arbitration), the
substantially prevailing party is entitled to recover from the non prevailing
party its reasonable legal fees, costs and expenses, including attorneys’ fees
and the costs of the litigation or arbitration, except as provided in paragraph
b. below.

b.                                      If the Executive
is not the substantially prevailing party, the Executive shall be liable to pay
the Company under paragraph a. above only if the court or arbitrator determines
that:

(i)                                     There
was no reasonable basis for the Executive’s claim (or the Executive’s response
to the Company’s claim); or

(ii)                                  The
Executive had engaged in unreasonable delay, failed to comply with a discovery
order or otherwise acted in bad faith in the litigation or arbitration.

c.                                       Either party
shall be entitled to recover any reasonable attorneys’ fees and other costs and
expenses it incurs in enforcing or collecting a judgment or arbitration award.

 

PART D. STATEMENT OF ERISA RIGHTS

Under ERISA (Employee Retirement Income
Security Act of 1974) employees have certain specific rights regarding the
Plan. This document constitutes the official Plan document and summary plan
description.

If you are eligible for benefits under the
Plan, you are entitled to certain rights and protections under ERISA. You may
examine (without charge) all Plan documents, including documents filed with the
U.S. Department of Labor, from the Company’s Human Resources Department. You
may obtain copies of all Plan documents and other Plan information upon written
request to the Plan Administrator. However, you may not inspect materials
containing confidential information about other participants. In addition, internal
communications between and among the Plan Administrator and the Company’s Board
and records of their proceedings regarding the operation of this Plan are
protected from disclosure to the fullest extent allowed by law. (The document
containing this statement constitutes both the Plan document and the summary
plan description.) A reasonable charge may be made for copies.

Employees may also obtain a statement telling
them whether they have a right to receive severance benefits under the Plan,
and if so, what such benefits would be. This statement must be requested in
writing and is not required to be given more than once a year. The statement
must be provided free of charge.

In addition to creating rights for Plan
participants, ERISA imposes duties upon the people who are responsible for the
operation of this Plan. The people who operate your Plan, called fiduciaries,
have a duty to do so prudently and in the interest of you and other Plan
participants. No employee may be fired or discriminated against to prevent him
or her from obtaining Plan benefits or from exercising his or her rights under
ERISA.

Under ERISA, you can take steps to enforce
your rights. For instance, if you request materials from the Plan Administrator
and do not receive them within 30 days, you may file a suit in federal court.
In such a case, the court may require the Plan Administrator to provide the
materials and pay you up to $110 per day until you receive them, unless the
reasons why the materials were not sent were beyond the control of the Plan
Administrator. To avoid unnecessary expenses, you may want to check with the
Plan Administrator before filing a lawsuit to see if there are legitimate
problems with giving you the materials you requested. If your claim is denied
or ignored, in whole or in part, you may file suit in a state or federal court,
but only after you have exhausted the Plan’s
claims review and appeals procedures. If you are discriminated
against for asserting your rights, you may seek assistance from the U.S. Department
of Labor, or you may file suit in a federal court. The court will decide who
should pay court costs and legal fees. If you are successful, the court may
order the person you sued to pay these costs and fees. If you lose, for example
because the court finds your claim frivolous, you may be ordered to pay these
costs and fees.

 

Any litigation that arises out of or relates
to this Plan shall be brought, as applicable, in either the United States
District Court for the District of Oregon or the Circuit Court, Clackamas
County, Oregon.

If you have any questions about the Plan, you
should contact the Plan Administrator. If you have any questions about your
rights under ERISA, you should contact the nearest office of the Employee
Benefits Security Administration, U.S. Department of Labor, listed in your
telephone directory or the Division of Technical Assistance and Inquiries,
Employee Benefits Security Administration, U.S. Department of Labor, 200
Constitution Avenue, NW, Washington, D.C. 20210. You may also obtain government
publications about your rights and responsibilities under ERISA by calling the
publications hotline of the Employee Benefits Security Administration.

Only the Plan Administrator is authorized to make administrative
interpretations of the provisions of the Plan and will do so only in writing.
You should not rely on any representation, whether oral or in writing, which
any other person may make concerning Plan provisions and your entitlement to
benefits under them.

 

	
  

  	
  INFOCUS CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:EXHIBIT 10.1

ADVANSTAR
COMMUNICATIONS INC.

FIRST
AMENDMENT TO SECOND AMENDED

AND RESTATED CREDIT AGREEMENT

This
FIRST AMENDMENT, dated as of November 29, 2006 (this “Amendment”), is entered
into by and among Advanstar Communications Inc., a New York corporation (the “Borrower”),
the Lenders party hereto, Credit Suisse, Cayman Islands Branch (“Credit
Suisse”), as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”), Goldman Sachs Credit Partners L.P., as syndication agent (in such
capacity, the “Syndication Agent”), and Wells Fargo Bank, National
Association, as documentation agent (in such capacity, the “Documentation
Agent”), and is made with reference to that certain Second Amended and
Restated Credit Agreement, dated as of May 24, 2006 (the “Credit Agreement”),
entered into by and among the Borrower, the Lenders party thereto, the
Administrative Agent, the Syndication Agent and the Documentation Agent.  Capitalized terms used herein and not
otherwise defined herein or otherwise amended hereby shall have the meanings
ascribed to them in the Credit Agreement.

RECITALS:

WHEREAS,
the Borrower desires to amend the definition of EBITDA contained in the Credit
Agreement with respect to certain compensation expenses that represent additional
consideration paid in connection with Permitted Acquisitions.

NOW,
THEREFORE, in consideration of the premises and the agreements, herein
contained, the parties agree as follows:

SECTION
1.  AMENDMENT TO CREDIT AGREEMENT

The definition of “EBITDA”
contained in Section 1.1 of the Credit Agreement is hereby amended by deleting
the provisions of that definition immediately following clause (d) thereof and
inserting the following in replacement thereof:

“plus

(e)
the amount deducted in determining Net Income for such period
representing compensation expense (i) incurred pursuant to contractual earnout
arrangements entered into in connection with a Permitted Acquisition and (ii)
that is reasonably determined by the Company to represent additional consideration
paid in connection with such Permitted Acquisition;

minus

(f)
Restricted Payments of the type referred to in clause (c)(i) of Section 7.2.6
made during such period.”

 

SECTION
2.                 REPRESENTATIONS
AND WARRANTIES

A.  Organization.

The Borrower has full power
and authority and holds all requisite governmental licenses, permits and other
approvals to enter into this Amendment.

B.  Due Authorization, Non-Contravention, etc.

The execution, delivery
and performance by the Borrower of this Amendment have been duly authorized by
all necessary corporate action, and do not (i) contravene
the Borrower’s Charter Documents or (ii) contravene
any contractual restriction, law or governmental regulation or court decree or
order binding on or affecting the Borrower, where such contravention,
individually or in the aggregate, could reasonably be expected to have a
Material Adverse Effect.

C.  Validity, etc.

This Amendment
constitutes the legal, valid and binding obligation of the Borrower enforceable
against the Borrower in accordance with its terms, subject to the effects of
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and
other similar laws relating to or affecting creditors’ rights generally,
general equitable principles (whether considered in a proceeding in equity or
at law) and an implied covenant of good faith and fair dealing.

SECTION
3.                 MISCELLANEOUS

A.            Binding Effect

This Amendment
shall be binding upon and shall inure to the benefit of the parties hereto and
each of the Lenders and their respective successors and assigns.

B.            Severability

Any provision of
this Amendment which is prohibited or unenforceable in any jurisdiction shall,
as to such provision and such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions of this Amendment or affecting the validity or enforceability of
such provision in any other jurisdiction.

C.            Reference to Credit
Agreement

On and after the
effective date of the Amendment, each reference in the Credit Agreement to “this
Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring
to the Credit Agreement, and each reference in the other Loan Documents to the “Credit
Agreement”, “thereunder”, “thereof” or words of like import referring to the
Credit Agreement shall mean and be a reference to the Credit Agreement as
amended by this Amendment.

D.            Effect on Credit
Agreement

Except as
specifically amended by this Amendment, the Credit Agreement and the other Loan
Documents shall remain in full force and effect and are hereby ratified and
confirmed.

E.             Execution

The execution,
delivery and performance of this Amendment shall not, except as expressly
provided herein, constitute a waiver of any provision of, or operate as a
waiver of any right, power or remedy of any Agent or Lender under the Credit
Agreement or any of the other Loan Documents.

F.
            Headings

The various
headings of this Amendment are inserted for convenience only and shall not
affect the meaning or interpretation of this Amendment or any provisions
hereof.

G.            APPLICABLE LAW

THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND
GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK.

H.            Counterparts;
Effectiveness

This Amendment may
be executed by the parties hereto in several counterparts, each of which shall
be an original and all of which shall constitute together but one and the same
agreement.  This Amendment shall become
effective when counterparts hereof executed on behalf of the Borrower and
Required Lenders (or notice thereof satisfactory to the Administrative Agent)
shall have been received by the Administrative Agent.

[The remainder of this page is intentionally left blank.]

 3

 

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

 

 

	
  

  	
   

  	
  ADVANSTAR COMMUNICATIONS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
     /s/ TED S. ALPERT

  
	
   

  	
   

  	
  Name:

  	
   

  	
  Ted S. Alpert

  
	
   

  	
   

  	
  Title:

  	
   

  	
  VP Finance, CFO

  
						

 

[Signature
Page to First Amendment]

 

 

	
  

  	
  CREDIT SUISSE, CAYMAN ISLANDS BRANCH,

  	
   

  	
   

  
	
   

  	
  as Administrative Agent and a Lender

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
     /s/ JUDITH E. SMITH

  	
   

  	
   

  
	
   

  	
   

  	
  Name: Judith E. Smith

  	
   

  	
   

  
	
   

  	
   

  	
  Title:   Director

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
     /s/ DOREEN BARR

  	
   

  	
   

  
	
   

  	
   

  	
  Name: Doreen Barr

  	
   

  	
   

  
	
   

  	
   

  	
  Title:   Vice President

  	
   

  	
   

  
							

 

[Signature
Page to First Amendment]

 

 

 

	
  

  	
  WELLS
  FARGO BANK, NATIONAL ASSOCIATION,

  
	
   

  	
  as the Document Agent and
  as a Lender

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
     /s/ KYLE R. HOLTZ

  	
   

  	
   

  
	
   

  	
   

  	
  Name:  Kyle R. Holtz

  	
   

  	
   

  
	
   

  	
   

  	
  Title:    Vice President

  	
   

  	
   

  
						

 

[Signature
Page to First Amendment]

 

 

 

	
  

  	
  MEDIA INVESTORS I TRUST,

  	
   

  	
   

  
	
   

  	
  as Lender

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Wilmington
  Trust Company, not in its individual capacity, but solely as owner trustee
  under

  agreement
  dated June 29, 2006

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
     /s/ JOSEPH B. FEIL

  	
   

  	
   

  
	
   

  	
   

  	
  Name:  Joseph B. Feil

  	
   

  	
   

  
	
   

  	
   

  	
  Title:    Assistant Vice President

  	
   

  	
   

  
						

 

[Signature
Page to First Amendment]

 

 

 

	
  

  	
  NATAXIS

  	
  ,

  	
   

  	
   

  
	
   

  	
  as
  Lender

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ELIZABETH A. HARKER

  	
   

  	
   

  
	
   

  	
   

  	
  Name:  Elizabeth A. Harker

  	
   

  	
   

  
	
   

  	
   

  	
  Title:    Director

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ FRANK H. MADDEN, JR.

  	
   

  	
   

  
	
   

  	
   

  	
  Name:  Frank H. Madden, Jr.

  	
   

  	
   

  
	
   

  	
   

  	
  Title:    Managing Director

  	
   

  	
   

  
								

 

[Signature
Page to First Amendment]

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