Document:

MORN_Exhibit_10.19_12.31.2011

Exhibit 10.19

DIRECTOR NONQUALIFIED STOCK OPTION AWARD AGREEMENT
UNDER THE
MORNINGSTAR, INC. 2011 STOCK INCENTIVE PLAN
This DIRECTOR NONQUALIFIED STOCK OPTION AWARD AGREEMENT ("Agreement") is made effective [•] (the "Grant Date"), and is between Morningstar, Inc., an Illinois corporation (the "Company"), and «Director» (the "Participant").  Any term capitalized but not defined in this Agreement will have the meaning set forth in the Morningstar, Inc. 2011 Stock Incentive Plan (the "Plan").
1.    Option Grant and Number of Shares.  In accordance with the terms of the Plan and subject to the terms and conditions of the Plan and this Agreement, the Company grants to the Participant a Nonqualified Stock Option to purchase all or any part of an aggregate of «Q3_Grant_» shares of Common Stock (the "Option").  
2.    Exercise Price and Payment of Exercise Price.  The Exercise Price of each share of Common Stock subject to the Option shall be $«Exercise Price».
After the Option has become exercisable, and before the Expiration Date indicated in Section 3 of this Agreement or, if earlier, the date on which the Option expires pursuant to Section 4 of this Agreement, the Participant may exercise this Option in accordance with Section 2.1(c) of the Plan.
3.     Term and Exercisability of an Option.  Subject to Section 4(b) of this Agreement, the Option will become exercisable in installments, with each installment becoming exercisable on the "First Exercisable Date" shown below, if the Participant continues to serve as a member of the Board until that date.
	
			
	Shares Subject to Option
	First Exercisable Date
	Expiration Date

	«Vest1»
	«VestDate1»
	«ExpDate»

	«Vest2»
	«VestDate2»
	«ExpDate»

	«Vest3»
	«VestDate3»
	«ExpDate»

4.    Termination of Service.  
(a)    If the Participant's service as a member of the Board terminates on account of Disability (as defined herein) or death of the Participant, the portion of the Option that is exercisable at the time of such termination shall remain exercisable until the earlier of (i) the Expiration Date set forth in Section 3 of this Agreement or (ii) the first anniversary of such termination.  The portion of the Option that is not exercisable at the time of such termination shall expire at the close of business on the date of such termination.  For purposes of this Agreement, “Disability” shall mean:  (i) a physical or mental condition that would qualify a Participant for a disability benefit under the long-term disability plan of the Company applicable to him or her; (ii)  if the Participant is not covered by such a long-term disability plan, disability as defined for purposes of eligibility for a disability award under the Social Security Act; or (iii) such other condition as may be determined by the Committee in its sole discretion to constitute Disability.
(b)    If the Participant's service as a member of the Board terminates by virtue of the Company's 12 year term limit for non-employee directors, the Option shall become exercisable in full and shall remain exercisable until the earlier of (i) the Expiration Date set forth in Section 3 of this Agreement or (ii) the first 

anniversary of such termination.  
(c)    If the Participant's service as a member of the Board is terminated for any reason other than those described in subsections (a) or (b) of this Section 4, the portion of the Option that is exercisable at the time of such termination shall remain exercisable until the earlier of (i) the Expiration Date set forth in Section 3 of this Agreement or (ii) 90 days from the date of such termination.  The portion of the Option that is not exercisable at the time of such termination shall expire at the close of business on the date of such termination.
5.    Notice.  Except as otherwise specified by the Company in its administrative procedures under the Plan, any notice or other communication required or permitted under this Agreement must be in writing and must be delivered personally, sent by certified, registered or express mail, or sent by overnight courier, at the sender's expense.  Notice will be deemed given when delivered personally or, if mailed, three days after the date of deposit in the United States mail or, if sent by overnight courier, on the regular business day following the date sent.  Notice to the Company should be sent to Morningstar, Inc., 22 West Washington Street, Chicago, Illinois, 60602, Attention: General Counsel.  Notice to the Participant should be sent to the address in the records of the Company.  Either party may change the person and/or address to whom the other party must give notice under this Section by giving such other party written notice of such change, in accordance with the procedures described above.
6.    Plan Document Controls.  The rights granted under this Agreement are in all respects subject to the provisions set forth in the Plan to the same extent and with the same effect as if set forth fully in this Agreement.  The Plan is incorporated herein by reference and made a part hereof, but the terms of the Plan shall not be considered an enlargement of any benefits under this Agreement.  Wherever a conflict may arise between the terms of this Agreement and the terms of the Plan, the terms of the Plan shall control solely to the extent necessary to resolve such conflict.  In addition, the Option granted hereunder is subject to any rules and regulations promulgated by the Committee pursuant to the Plan, now or hereafter in effect.
7.    Amendment of Agreement.  The Company and the Participant may amend this Agreement only by a written instrument signed by both parties.
8.    Counterparts.  The parties may execute this Agreement in one or more counterparts, all of which together shall constitute but one Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Director Nonqualified Stock Option Award Agreement as of the Grant Date set forth above.
	
		
	PARTICIPANT

«Director»
Please return by: «Return Date»
	MORNINGSTAR, INC.
By: _________________________________
Its:   _________________________________EX-10.1

Exhibit 10.1

AMENDMENT NO. 10

TO

CREDIT AGREEMENT

AMENDMENT NO. 10 (this “Amendment”), dated as of February 22, 2012, to the Credit
Agreement, dated as of December 21, 2006, by and between Alterra Bermuda Limited, a Bermuda company
(the “Borrower”) and The Bank of Nova Scotia (the “Lender”), as amended by
Amendment No. 1, dated as of December 20, 2007, Amendment No. 2, dated as of December 18, 2008,
Amendment No. 3, dated as of December 17, 2009, Amendment No. 4, dated as of May 3, 2010, Amendment
No. 5, dated as of August 30, 2010, Amendment No. 6, dated as of December 1, 2010, Amendment No. 7,
dated as of December 13, 2010, Amendment No. 8, dated as of December 12, 2011, and Amendment No. 9,
dated as of December 16, 2011 (as the same may be amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”).

RECITALS

I. Capitalized terms used herein and not herein defined shall have the meanings set forth in
the Credit Agreement.

II. The Borrower desires to amend the Credit Agreement upon the terms and conditions herein
contained, and the Lender has agreed thereto.

Accordingly, in consideration of the Recitals and the covenants, conditions and agreements
hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the parties hereto agree as follows:

1. The first sentence of the defined term “MBS Investments” contained in Section 1.1
of the Credit Agreement is hereby amended and restated in its entirety as follows:

“MBS Investments” means (a) MBS (Agency CMOs) which in each case
constitute TACs, PACs and Sequentials (as such terms are defined by Bloomberg Inc.),
but shall not include Support Tranches (as such term is defined by Bloomberg Inc.),
and (b) MBS (Agency Pass-Throughs).

2. Section 1.1 of the Credit Agreement is hereby amended by deleting the definition of
“MBS (Non-Agency CMOs)” contained therein.

3. Schedule 1.1 to the Credit Agreement is hereby amended and restated in its entirety in the
form of Schedule 1.1 hereto.

4. Schedule 1.2 to the Credit Agreement is hereby amended and restated in its entirety in the
form of Schedule 1.2 hereto.

5. Exhibit B to the Credit Agreement is hereby amended and restated in its entirety in the
form of Exhibit B hereto.

6. Paragraphs 1 through 5 hereof shall not be effective until each of the following conditions
is satisfied (the date, if any, on which such conditions shall have first been satisfied being
referred to herein as the “Amendment No. 10 Effective Date”):

(a) The Lender shall have received from the Borrower either (i) a counterpart
of this Amendment executed on behalf of the Borrower or (ii) written evidence
satisfactory to the Lender (which may include telecopy transmission of a signed
signature page of this Amendment) that the Borrower has executed a counterpart of
this Amendment;

(b) The Lender shall have received a closing certificate, duly executed by the
proper parties and substantially in the form of Annex I hereto;

(c) All fees and expenses payable to the Lender (including the reasonable fees
and expenses of counsel to the Lender) due and payable on or prior to the Amendment
No. 10 Effective Date shall have been paid.

7. The Borrower (i) reaffirms and admits the validity and enforceability against the Borrower
of each Credit Document and all of its obligations thereunder, (ii) agrees and admits that it has
no defense to or offset against any such obligation, and (iii) represents and warrants that, as of
the date of the execution and delivery hereof by the Borrower, no Default has occurred and is
continuing.

8. This Amendment may be executed in any number of counterparts, each of which shall be
original and all of which shall constitute one agreement. It shall not be necessary in making
proof of this Amendment to produce or account for more than one counterpart signed by the party to
be charged.

9. This Amendment shall be governed by, and construed in accordance with, the laws of the
State of New York, without regard to conflict of laws principles that would require the application
of the laws of another jurisdiction.

10. Except as amended hereby, the Credit Agreement shall in all other respects remain in full
force and effect.

[Remainder of page intentionally left blank.]

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

ALTERRA BERMUDA LIMITED

By:

Name:

Title:

THE BANK OF NOVA SCOTIA

By:

Name:

Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}]]