Document:

Exhibit 10.8

 

2008
Management Incentive Plan

 

On February 20,
2008, the Compensation Committee of the Board of Directors (the “Committee”) of
Clarient, Inc. (the “Company”) adopted the 2008 Management Incentive Plan
(the “2008 Incentive Plan”) to provide cash incentives for the Company’s
executive officers and certain other employees. The 2008 Incentive Plan is
intended to assist the Company in attracting, retaining and motivating highly
qualified and experienced managers. The 2008 Incentive Plan rewards corporate
and individual performance with a goal of helping to align the total
compensation of the participants with the interests of the Company’s stockholders.  Because the 2008 Incentive Plan is not set
forth in any formal document, a general description outlining the 2008
Incentive Plan follows.

 

Under the 2008
Incentive Plan variable cash incentives, if any, will be paid based on the
achievement of specified corporate and individual objectives. The variable cash
incentive component of each participant’s total compensation is based on a
target amount.  The amount of such compensation for executive officers
will be determined based on the following factors: (i) 85% based on
achievement of the Company’s financial objectives, (ii) 10% based on the
achievement of corporate objectives, and (iii) 5% based on the achievement
of certain human resource and leadership objectives, with a potential payout at
target incentive levels of approximately $600,000. Non-officer variable
compensation for 2008 will be determined based on the following factors: (i) 60%
based on achievement of financial objectives, (ii) 30% based on the
achievement of corporate objectives, and (iii) 10% based on the
achievement of human resource and leadership objectives, with a potential
payout at target incentive levels of approximately $800,000.  The target
incentive awards for officers range from 75% of salary compensation for the
Chief Executive Officer to 30% of salary for certain officers of the Company.
 Each participant can earn up to two hundred and ten percent of their
target based on very high achievement of these objectives established by the
Committee.

 

There is no
mandatory minimum award payable under the 2008 Incentive Plan. Bonus awards are
subject to the approval of the Committee and are based on a combination of
total corporate performance and individual performance. The actual cash
incentive paid to a participant in the 2008 Incentive Plan may be adjusted
based upon the achievement of corporate and individual objectives and will be
measured on a sliding scale basis (e.g. 50% achievement would result in payment
of 50% of target incentives, 100% achievement would result in payment of 100%
of target incentives and 200% achievement would result in payment of 200% of
target incentives).  The Committee, in its discretion, may award bonuses
even if the 2008 Incentive Plan’s financial targets are not met.

 

The Board also
approved the financial and the corporate objectives for the 2008 Incentive
Plan. These financial objectives are based on achieving specified levels of
improvement in revenue and in earnings before interest, tax, depreciation and
amortization expense. The corporate objectives include specified individual
business objectives, as well as certain company-wide objectives.  These objectives
include customer satisfaction, customer retention, certain project milestones,
certain productivity metrics and maintaining regulatory compliance.  Human
resource and leadership objectives include maintenance of the Company’s
performance culture, individual performance appraisals and evaluation of
individual development plans. The incentives are earned over the course of fiscal
year 2008 and are expected to be paid in March 2009.EXHIBIT 10.4

 

THIRD
AMENDMENT TO

FIRST AMENDED AND RESTATED CREDIT AGREEMENT

 

This Third Amendment (this “Amendment”),
dated as of May 12, 2008 but effective as of March 1, 2008 (the “Amendment
Effective Date”), is by and among MxEnergy Inc., a Delaware corporation (“MXenergy”),
and MxEnergy Electric Inc., a Delaware corporation (“MxEnergy Electric”;
MXenergy and MxEnergy Electric each a “Borrower” and collectively, the “Borrowers”),
MxEnergy Holdings Inc. and certain Subsidiaries thereof (collectively, the “Guarantors”),
and the financial institutions and other Persons whose signature appears below
as Lenders.

 

PRELIMINARY
STATEMENTS

 

A.            Reference
is made to the First Amended and Restated Credit Agreement dated as of August 1,
2006 (as amended by the First Amendment dated as of April 6, 2007 and the
Second Amendment dated as of December 17, 2007, the “Credit Agreement”)
among the Borrowers, the Guarantors, the lenders party thereto and the
Administrative Agent. Unless otherwise expressly provided herein, capitalized
terms used herein and not otherwise defined shall have the meanings assigned to
such terms in the Credit Agreement.

 

B.            The
Borrowers have requested that the Majority Lenders amend the Credit Agreement
as hereinafter provided; and

 

C.            The
Lenders party hereto, constituting the Majority Lenders under the Credit
Agreement, are willing to amend the Credit Agreement on the terms and
conditions set forth herein.

 

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

 

AGREEMENT

 

Section 1. Amendments to Credit
Agreement.

 

(a)      Amendment
to Section 6.06(e). Section 6.06(e) of the Credit Agreement
is hereby amended by deleting the value “$12,000,000” contained in clause (iii) thereof,
and replacing the same with the value “$12,006,000”.

 

(b)      Amendment
to Section 6.20. Section 6.20 of the Credit Agreement is hereby
amended in its entirety to read as follows:

 

Permit, as of last day of any month occurring
during any period set forth below, the ratio of Consolidated EBITDA for the
twelve months then ending to Consolidated Interest Expense for such period set
forth below to be less than the ratio set forth below opposite such period:

 

 

	
  Period

  	
   

  	
  Interest Coverage Ratio

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  From March 1, 2008
  through August 31, 2008

  	
   

  	
  1.40
  to 1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  From September  1,
  2008 through the Maturity Date

  	
   

  	
  1.60
  to 1.00

  	
   

  

 

(c) Amendment to Section 6.21.
Section 6.21 of the Credit Agreement is hereby amended in its entirety to
read as follows:

 

Permit the Leverage Ratio at any time during the relevant period set
forth below to be greater than the ratio set forth below opposite such period:

 

	
   

  	
   

  	
  Maximum

  	
   

  
	
  Relevant Period

  	
   

  	
  Leverage Ratio

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  From March 1, 2008
  through June 30, 2008

  	
   

  	
  5.00
  to 1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  From July 1, 2008
  through August 31, 2008

  	
   

  	
  4.75
  to 1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  From September 1,
  2008 to September 30, 2008

  	
   

  	
  4.50
  to 1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  From October 1, 2008
  through the Maturity Date

  	
   

  	
  4.00
  to 1.00

  	
   

  

 

Section 2.       Amendment to Exhibit C. Exhibit C
to the Credit Agreement is hereby amended as attached hereto as Annex I.

 

Section 3.       Conditions to Effectiveness. This
Amendment shall be effective as of the Amendment Effective Date when the
Administrative Agent shall have received confirmation of each of the following
in form and substance satisfactory to the Administrative Agent:

 

(a)      counterparts
of this Amendment, duly executed by each Loan Party and the Majority Lenders;

 

(b)      a
certificate of Secretary or other officer of each Loan Party certifying the
name and title of the officer of such Loan Party that is authorized to execute
this Amendment and that none of the organizational documents of such Loan Party
have been changed since the Closing Date; and

 

2

 

(c)      evidence
that the Borrowers have paid (i) the Administrative Agent for the pro rata
benefit of each Lender that has executed this Amendment on or before May 12,
2008 an amendment fee equal to 0.125% of the aggregate Revolving Commitments of
such Lenders and (ii) all other costs, accrued and unpaid fees and
expenses to the extent due and payable to the Lenders and the Administrative
Agent as of the date hereof pursuant to the Credit Agreement.

 

Section 4.       Representations and Warranties.
Each Loan Party jointly and severally hereby represents and warrants that, as
of the Amendment Effective Date:

 

(a)      all
representations and warranties of such Loan Party contained in the Credit
Agreement and any other Loan Document are true and correct in all material
respects with the same effect as if such representations and warranties had
been made on the Amendment Effective Date (it being understood and agreed that
any representation which by its terms is made as of a specified date shall be
required to be true and correct only as of such specified date); and

 

(b)      no Default has occurred and is continuing.

 

Section 5.       Consent of Guarantors; Confirmation of
Guarantees. Each Guarantor hereby consents to this Amendment and hereby
confirms and agrees that notwithstanding the effectiveness of this Amendment,
the Guarantee contained in Article VIII of the Credit Agreement is, and
shall continue to be, in full force and effect and is hereby ratified and
confirmed in all respects.

 

Section 6.       Governing Law. This Amendment
shall be governed by, and construed and enforced in accordance with, the
internal laws of the State of New York without regard to conflict of laws
principles.

 

Section 7.       Entire Agreement. This Amendment,
the Credit Agreement and the other Loan Documents constitute the entire agreement
and understanding among the parties and supersede all prior agreements and
understandings, whether written or oral, among the parties hereto concerning
the transactions provided herein and therein.

 

Section 8.       Execution in Counterparts. This
Amendment may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed shall
be deemed to be an original and all of which taken together shall constitute
one and the same agreement.  Delivery of
an executed counterpart of a signature page to this Amendment by facsimile
shall be as effective as delivery of a manually executed counterpart of this
Amendment.

 

Section 9.       Headings. The headings set forth
in this Amendment are and shall be without substantive meaning or content of
any kind whatsoever and are not a part of the agreement between the parties
hereto.

 

Section 10.     Severability. In case any provision
in or obligation under this Amendment shall be invalid, illegal or
unenforceable in any jurisdiction, the validity, legality and

 

3

 

enforceability of the remaining provisions or
obligations, or of such provision or obligation in any other jurisdiction,
shall not in any way be affected or impaired thereby.

 

[Signature pages follow]

 

4

 

IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be duly executed and delivered by their respective
duly authorized officers as of the Amendment Effective Date.

 

	
   

  	
  BORROWERS:

  
	
   

  	
   

  	
   

  
	
   

  	
  MXENERGY INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chaitu Parikh

  
	
   

  	
   

  	
  Chaitu Parikh

  
	
   

  	
   

  	
  Vice President and CFO

  
	
   

  	
   

  	
   

  
	
   

  	
  MXENERGY ELECTRIC INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chaitu Parikh

  
	
   

  	
   

  	
  Chaitu Parikh

  
	
   

  	
   

  	
  Vice President and CFO

  
	
   

  	
   

  	
   

  
	
   

  	
  GUARANTORS:

  
	
   

  	
   

  	
   

  
	
   

  	
  MXENERGY HOLDINGS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chaitu Parikh

  
	
   

  	
   

  	
  Chaitu Parikh

  
	
   

  	
   

  	
  Vice President and CFO

  
	
   

  	
   

  	
   

  
	
   

  	
  ONLINE CHOICE INC.

  MXENERGY GAS CAPITAL HOLDINGS CORP.

  MXENERGY ELECTRIC CAPITAL HOLDINGS CORP.

  MXENERGY GAS CAPITAL CORP.

  MXENERGY ELECTRIC CAPITAL CORP.

  TOTAL GAS & ELECTRIC INC.

  TOTAL GAS & ELECTRICITY (PA) INC.

  MXENERGY CAPITAL HOLDINGS CORP.

  MXENERGY CAPITAL CORP.

  MXENERGY SERVICES INC.

  INFOMETER.COM INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chaitu Parikh

  
	
   

  	
   

  	
  Chaitu Parikh

  
	
   

  	
   

  	
  Vice President and CFO

  

 

 

	
   

  	
  LENDERS:

  
	
   

  	
   

  	
   

  
	
   

  	
  SOCIÉTÉ GÉNÉRALE

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Barbara
  Paulsen

  
	
   

  	
  Name:

  	
  Barbara
  Paulsen

  
	
   

  	
  Title:

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Chung-Taek On 

  
	
   

  	
  Name:

  	
  Chung-Taek On

  
	
   

  	
  Title:

  	
  Vice President

  

 

 

	
   

  	
  WACHOVIA
  BANK, N.A.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Roger Grossman

  
	
   

  	
  Name:

  	
  Roger Grossman

  
	
   

  	
  Title:

  	
  Vice President

  

 

 

	
   

  	
  CoBANK, ACB

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dale Keyes

  
	
   

  	
  Name:

  	
  Dale Keyes 

  
	
   

  	
  Title:

  	
  Vice President

  

 

 

	
   

  	
  MORGAN STANLEY BANK

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Daniel Twenge

  
	
   

  	
  Name:

  	
  Daniel Twenge

  
	
   

  	
  Title:

  	
  Authorized Signatory

  

 

 

	
   

  	
  LASALLE
  BANK NATIONAL ASSOCIATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Scott Moreen 

  
	
   

  	
  Name:

  	
  Scott Moreen

  
	
   

  	
  Title:

  	
  Executive Vice President

  

 

 

	
   

  	
  ALLIED IRISH BANKS p.l.c.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Vaughn Buck

  
	
   

  	
  Name:

  	
  Vaughn Buck

  
	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Aidan
  Lanigan

  
	
   

  	
  Name:

  	
  Aidan
  Lanigan

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

 

	
   

  	
  RZB FINANCIAL LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Hermine Kirolos

  
	
   

  	
  Name:

  	
  Hermine
  Kirolos

  
	
   

  	
  Title:

  	
  Group Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Yang Weng

  
	
   

  	
  Name:

  	
  Yang Weng

  
	
   

  	
  Title:

  	
  Vice President

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