Document:

Exhibit

                                                Exhibit  10.1

April 26, 2016

Stephanie Ferris

Re:         Confirmation Letter 

Dear Stephanie:

On behalf of Mark Heimbouch, it is my pleasure to provide you with this letter formalizing your position as Chief Financial Officer.  In your new position, you will also be a member of the Executive Committee at Vantiv.  You are scheduled to start your new position effective April 26, 2016.

Compensation
Your annualized salary will be $330,000, which is payable in accordance with our Company’s regular payroll practices. 

Variable Compensation Plan 
You will continue to be eligible to participate in Vantiv’s Variable Compensation Plan, which is an annual incentive plan that is paid based on the Company’s achievement of established financial goals and your achievement of individual goals. Your target bonus opportunity will be 75% of your base salary. The actual payout, if any, may be less than or greater than your target depending on the level at which Vantiv achieves its annual goals and the achievement of your individual performance objectives, which will be established by you and your manager. 

Equity Award
Initial Award.  Subject to the approval of Vantiv’s Compensation Committee, you will receive a restricted stock award with a fair market value equal to $250,000 on the date of the grant.  The entire award will cliff vest on the third anniversary of the grant date, subject to your continued service on such date.  The grant date of your award will be the date of the Board of Directors’ April 26, 2016 meeting.  The award will be made pursuant to the Vantiv, Inc. 2012 Equity Incentive Plan or successor plan and is further conditioned upon your review and acceptance of Vantiv’s RSA Agreement.  The RSA Agreement will include non-solicitation and non-compete provisions.  

Subsequent Awards.  Commencing with the annual award cycle in February 2017, you will continue to be eligible for annual grants of equity awards or other long-term incentive awards in amounts and on terms and conditions determined by Vantiv’s management and approved by the Vantiv Board of Directors or its Compensation Committee.  While there can be no guarantee, it is expected that positions at your level will typically be eligible to receive additional equity grants targeted at 200% of your base salary.  Based upon your current base salary the targeted annual equity award would be the equivalent of $660,000.

Severance Pay
You have been identified as a Participant in the Vantiv, LLC Executive Severance Plan (the “Severance Plan”) at the Executive Officer level.  Accordingly, any severance benefits to which you may be entitled shall be governed by the terms of the Severance Plan and will be further conditioned upon your timely execution of a waiver and release of all claims arising out of your employment with Vantiv, or its affiliates, in a form that is reasonably acceptable to the Chief Legal Officer.  

Section 16 Filings
As an executive officer of Vantiv, you will be required to file reports with the Securities and Exchange Commission (SEC) reflecting your ownership of, and any transaction in, Vantiv equity securities.  An initial ownership report, a Form 3, is due within 10 days of your new position start date and will report your ownership of Vantiv equity securities as of your new position date.  Subsequent transactions in Vantiv equity securities, such as grants, exercises, purchases, sales or other transfers, must be reported to the SEC in a Form 4 filing by the second business day following the date of the transaction.  As an administrative convenience, Vantiv will file these reports on your behalf with the SEC. You have already authorized us to obtain SEC filing codes for you and to make filings on your behalf by signing a Power of Attorney.

At-Will Statement 
As with all positions at Vantiv, each of us is employed on an at-will basis and no part of this letter should be construed as a contract or guarantee of continued employment for any period of time. Vantiv and each employee may terminate employment at any time. No statement in this letter or otherwise should be considered a contract of employment unless it is made in writing and signed by the Chief Executive Officer of Vantiv.

Acknowledgement
You acknowledge and agree that you are not under any contractual restrictions that would impact your ability to perform this position.  You further acknowledge that no one at Vantiv has made any representations or assurances to this effect.  You also acknowledge and understand that the use or disclosure of any confidential information or trade secret of any former employer is strictly prohibited.

To indicate your acknowledgement of this confirmation letter, please sign, date and return this letter via scanned email to Kim.Martin@vantiv.com.

Sincerely,

/s/ Kim Martin                                                                
Kim Martin
Chief Human Resources Officer

Enclosures: Restricted Share Award Agreement, Executive Severance Plan, Stock Ownership Guidelines

	
			
	/s/ Stephanie Ferris
	 
	4/26/2016

	Stephanie Ferris Signature
	 
	DateSECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT

This Second Amendment to Loan and Security Agreement (this "Amendment") is entered into as of April 21, 2016, by and between EAST WEST BANK ("Bank") and CĪON INVESTMENT CORPORATION, a Maryland corporation ("Borrower").

RECITALS

Borrower and Bank are parties to that certain Loan and Security Agreement dated as of April 30, 2015 (as amended from time to time, including by that certain First Amendment to Loan and Security Agreement dated as of January 28, 2016, collectively, the "Agreement").  The parties desire to amend the Agreement in accordance with the terms of this Amendment.

NOW, THEREFORE, the parties agree as follows:

1. The following defined terms set forth in Section 1.1 of the Agreement hereby are added, or amended and restated, as follows:

"Borrowing Base" means an amount equal to, (a) from the Second Amendment Closing Date through September 30, 2016, forty percent (40%) of Collateral, as determined by Bank with reference to the most recent Borrowing Base Certificate delivered by Borrower and  (b) at all times thereafter, the lesser of (i) the average monthly net proceeds received by Borrower from the sale of its equity securities during the trailing three (3) month period ending on the last day of the immediately preceding calendar month of Borrower or (ii) fifty percent (50%) of Collateral, as determined by Bank with reference to the most recent Borrowing Base Certificate delivered by Borrower.

"Borrowing Base Certificate" is a borrowing base certificate in the form attached to the Agreement, (a) from the Second Amendment Closing Date through September 30, 2016, as Exhibit C-1, and  (b) at all times thereafter, as Exhibit C-2.

"Revolving Maturity Date" means April 27, 2017.

"Second Amendment Closing Date" means April 21, 2016.

2. Section 6.7 of the Agreement hereby is amended and restated in its entirety to read as follows:

"6.7       Fair Market Value of Collateral.  The Collateral shall at all times have a Fair Market Value of not less than, (a) from the Second Amendment Closing Date through September 30, 2016, the aggregate amount of Advances outstanding hereunder, multiplied by two and a half (2.5) and (b) at all times thereafter, the aggregate amount of Advances outstanding hereunder, multiplied by two (2)."

3. Exhibit D to the Agreement hereby is replaced with Exhibit D attached hereto.

4. No course of dealing on the part of Bank or its officers, nor any failure or delay in the exercise of any right by Bank, shall operate as a waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of any such right.  Bank's failure at any time to require strict performance by Borrower of any provision shall not affect any right of Bank thereafter to demand strict compliance and performance.  Any suspension or waiver of a right must be in writing signed by an officer of Bank.

5. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement.  The Agreement, as amended hereby, shall be and remain in full force and effect in accordance with its respective terms and hereby is ratified and confirmed in all respects.  Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof.

6. Borrower represents and warrants that the Representations and Warranties contained in the Agreement are true and correct as of the date of this Amendment, and that no Event of Default has occurred and is continuing.

7. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory to Bank, the following:

 (a) this Amendment, duly executed by Borrower;

 (b) a certificate with respect to incumbency and resolutions of Borrower, authorizing the execution and delivery of this Amendment;

 (c) a fully earned and non-refundable facility fee equal to Two Hundred Thousand Dollars ($200,000);

 (d) all reasonable Bank Expenses incurred through the date of this Amendment, which may be debited from any of Borrower's accounts; and

 (e) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

8. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument.

[Balance of Page Intentionally Left Blank]

 

IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above written.

	 	
CĪON INVESTMENT CORPORATION

 

	 	 
	 	
By: /s/ Michael A. Reisner 

	 	 
	 	
Title: Co-President and Co-Chief Executive Officer 

	 	 
	 	
 

EAST WEST BANK

	 	 
	 	 
	 	
By: /s/ Emma Wang 

	 	 
	 	
Title: First Vice President 

[Signature Page to Second Amendment to Loan and Security Agreement]

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