Document:

exv10w61

Exhibit 10.61

Triad Guaranty Inc.

Board of Directors Compensation Program Summary

     In an effort to reflect the changing demands on the Board of Directors (the “Board”) of
Triad Guaranty Inc. (the “Company”) as well as the economic realities faced by the Company, the
Compensation Committee revised the Company’s non-employee director compensation program in August
2009, effective October 1, 2009 (the “Program”). A summary of the terms of the Program are set
forth below:

     Non-Employee Directors

	 	1.	 	Retainer: Each non-employee director shall receive an annual
cash retainer of $85,000, payable in equal quarterly installments in advance.
Each non-employee director shall also receive a fully vested annual restricted
stock award of 10,000 shares of the Company’s common stock pursuant to the
Company’s 2006 Long-Term Stock Incentive Plan (the “Plan”) and the related
restricted stock agreement. For 2009, the award shall be pro rated at 7,500 for
three quarters of service.

	 
	 	2.	 	Committee Chairs: Directors who are chosen to serve as
chairs of any of the three standing Board committees – the Audit Committee,
Compensation Committee or Corporate Governance and Nominating Committee (together,
the “Committees”) – will no longer be entitled to additional cash compensation for
such service. In addition, the single director who is designated as the Lead
Independent Director of the Board also will no longer receive any additional cash
compensation for such service.

	 
	 	3.	 	Meeting Fees: There will no longer be any meeting fees paid
to any director for attendance at or participation in Board or Committee meetings
(whether regular, special, in-person or telephonic and regardless of meeting
length), except as follows:

	 	a)	 	Each non-employee director is expected to
attend up to one in-person or telephonic meeting of the Board each
month without additional compensation; attendance or participation by
a director at the second and each subsequent meeting of the Board
(whether in-person or telephonic and regardless of meeting length)
held within a calendar month shall be compensated at the rate of
$1,500 for each such meeting; and

	 
	 	b)	 	Each Committee member is expected to attend
up to two meetings of each of the Committees on which he serves in
each calendar quarter without additional compensation; attendance or
participation by a director as a Committee member at the third and
each subsequent meeting of each such Committee (whether in-person or
telephonic

 

 

	 	 	 	and regardless of meeting length) held during such quarter shall be
compensated at the rate of $1,500 per meeting.

     Chairman of the Board

	 	1.	 	Retainer: The Chairman of the Board shall receive an annual cash
retainer of $156,000, payable in equal quarterly installments in advance. The
Chairman shall also receive a fully vested annual restricted stock award of
17,000 shares of the Company’s common stock pursuant to the Plan and the related
restricted stock agreement. For 2009, the award shall be pro rated at 12,750
shares for three quarters of service.

	 
	 	2.	 	Meeting Fees: The Chairman shall not be compensated for
attending Board or Committee meetings (whether regular, special, in-person or
telephonic and regardless of meeting length).exv4w10

Exhibit 4.10

     EIGHTH SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of March 19,
2010, among NEW BINAX, INC., NEW BIOSITE INCORPORATED, ALERE NEWCO, INC. AND ALERE NEWCO II, INC.
(collectively, the “New Guarantors”), Subsidiaries of Inverness Medical Innovations, Inc. (or its
successor) (the “Issuer”), INVERNESS MEDICAL INNOVATIONS, INC., a Delaware corporation, each of the
Guarantors (the “Existing Guarantors”) under the Indenture referred to below, and U.S. BANK
NATIONAL ASSOCIATION, as Trustee under the Indenture referred to below (the “Trustee”).

WITNESSETH:

     WHEREAS the Issuer has heretofore executed and delivered to the Trustee an Indenture dated as
of May 12, 2009, as amended, supplemented and modified by a First Supplemental Indenture dated as
of May 12, 2009, a Second Supplemental Indenture dated as of June 9, 2009, a Third Supplemental
Indenture dated as of August 4, 2009, a Fourth Supplemental Indenture dated as of September 22,
2009, a Fifth Supplemental Indenture dated as of November 25, 2009, a Sixth Supplemental Indenture
dated as of February 1, 2010, and a Seventh Supplemental Indenture dated as of March 1, 2010 (as so
amended, supplemented and modified, and as further amended, supplemented or modified to date, the
“Indenture”), by and among the Issuer, the Existing Guarantors and the Trustee, providing for the
issuance of 9.00% Senior Subordinated Notes due 2016 (the “Notes”);

     WHEREAS Section 4.13 of the Indenture provides that under certain circumstances the Issuer is
required to cause each of the New Guarantors to execute and deliver to the Trustee a supplemental
indenture pursuant to which each of the New Guarantors shall unconditionally and irrevocably
guarantee all of the Issuer’s obligations under the Notes pursuant to a guarantee on the terms and
conditions set forth herein; and

     WHEREAS pursuant to Section 9.01 of the Indenture, the Trustee, the Issuer and the Existing
Guarantors are authorized to execute and deliver this Supplemental Indenture;

     NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, each of the New Guarantors, the
Trustee, the Issuer and the Existing Guarantors mutually covenant and agree for the equal and
ratable benefit of the Holders as follows:

     SECTION 1. Definitions. For all purposes of this Supplemental Indenture, except as
otherwise herein expressly provided or unless the context otherwise requires: (i) the terms and
expressions used herein shall have the same meanings as corresponding terms and expressions used in
the Indenture; and (ii) the words “herein,” “hereof” and “hereby” and other words of similar import
used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any
particular section hereof.

     SECTION 2. Agreement to Guarantee. Each of the New Guarantors hereby unconditionally
and irrevocably agrees, jointly and severally with all other Guarantors, to guarantee the Issuer’s
obligations under the Notes and the Indenture on the terms and subject to the conditions set forth
in Article Eleven of the Indenture and to be bound by all other applicable provisions of the
Indenture.

 

 

     SECTION 3. Ratification of Indenture; Supplemental Indenture Part of Indenture.
Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all
the terms, conditions and provisions thereof shall remain in full force and effect. This
Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of
Notes heretofore or hereafter authenticated and delivered shall be bound hereby.

     SECTION 4. Governing Law. This Supplemental Indenture shall be governed by, and
construed in accordance with, the laws of the State of New York, but without giving effect to
applicable principles of conflicts of laws to the extent that the application of the laws of
another jurisdiction would be required thereby.

     SECTION 5. Trustee Makes No Representation. The Trustee makes no representation as to
the validity or sufficiency of this Supplemental Indenture.

     SECTION 6. Counterparts. The parties may sign any number of copies of this
Supplemental Indenture. Each signed copy shall be an original, but all of them together represent
the same agreement.

     SECTION 7. Effect of Headings. The Section headings herein are for convenience only
and shall not effect the construction thereof.

[Signature Page Follows]

-2-

 

     IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written.

	 	 	 	 	 
	 	NEW GUARANTORS:

ALERE NEWCO, INC.

ALERE NEWCO II, INC.

NEW BINAX, INC.

NEW BIOSITE INCORPORATED,

as New Guarantors

 	 
	 	By:  	/s/ David A. Teitel
 	 
	 	 	Name:  	David A. Teitel 	 
	 	 	Title (respectively): President; President; Vice
President, Finance; Vice President, Finance 	 
	 

Signature Page to Eighth Supplemental Indenture

 

 

	 	 	 	 	 
	 	ISSUER:

INVERNESS MEDICAL INNOVATIONS, INC.

 	 
	 	By:  	/s/ David A. Teitel
 	 
	 	 	Name:  	David A. Teitel 	 
	 	 	Title:  	Chief Financial Officer and Treasurer 	 
	 

Signature Page to Eighth Supplemental Indenture

 

 

	 	 	 	 	 
	 	EXISTING GUARANTORS:

ALERE HEALTH, LLC

ALERE HEALTHCARE OF ILLINOIS, INC.

ALERE HEALTH IMPROVEMENT COMPANY

ALERE HEALTH SYSTEMS, INC.

ALERE MEDICAL, INC.

ALERE WELLOLOGY, INC.

ALERE WOMEN’S AND CHILDREN’S HEALTH, LLC

AMEDITECH INC.

APPLIED BIOTECH, INC.

BINAX, INC.

BIOSITE INCORPORATED

CHOLESTECH CORPORATION

FIRST CHECK DIAGNOSTICS CORP.

FIRST CHECK ECOM, INC.

FREE & CLEAR, INC.

GENECARE MEDICAL GENETICS CENTER, INC.

HEMOSENSE, INC.

IM US HOLDINGS, LLC

 	 
	 	By:  	/s/ David A. Teitel
 	 
	 	 	Name:  	David A. Teitel 	 
	 	 	Title (respectively):  Vice President and
Treasurer; Vice President, Finance; Vice
President, Finance; Vice President and
Treasurer; Vice President and Treasurer;
Vice President, Finance; Vice President,
Finance; General Manager; Vice President;
Vice President, Finance; Vice President,
Finance; Vice President, Finance and Chief
Financial Officer; Vice President, Finance;
Vice President; Vice President, Finance and
Treasurer; Vice President and Treasurer;
Treasurer; President 	 
	 

Signature Page to Eighth Supplemental Indenture

 

 

	 	 	 	 	 
	 	EXISTING GUARANTORS (continued):

INNOVACON, INC.

INNOVATIVE MOBILITY, LLC

INSTANT TECHNOLOGIES, INC.

INVERNESS MEDICAL, LLC

INVERNESS MEDICAL — BIOSTAR INC.

INVERNESS MEDICAL INNOVATIONS NORTH AMERICA, INC.

INVERNESS MEDICAL INTERNATIONAL HOLDING CORP.

ISCHEMIA TECHNOLOGIES, INC.

IVC INDUSTRIES, INC.

MATRITECH, INC.

OSTEX INTERNATIONAL, INC.

QUALITY ASSURED SERVICES, INC.

REDWOOD TOXICOLOGY LABORATORY, INC.

RMD NETWORKS, INC.

RTL HOLDINGS, INC.

SELFCARE TECHNOLOGY, INC.

TAPESTRY MEDICAL, INC.

WAMPOLE LABORATORIES, LLC

ZYCARE, INC.

 	 
	 	By:  	/s/ David A. Teitel
 	 
	 	 	Name:  	David A. Teitel 	 
	 	 	Title (respectively):  Vice President, Finance;
Chief Financial Officer; Vice President,
Finance; Vice President, Finance; Vice
President, Finance; Vice President, Finance;
President; Vice President, Finance; Vice
President; Vice President, Finance; Vice
President, Finance; Chief Financial Officer;
Vice President, Finance; Vice President,
Finance and Treasurer; Vice President,
Finance; Vice President, Finance; Vice
President, Finance; Vice President; Chief
Financial Officer and Treasurer 	 
	 

Signature Page to Eighth Supplemental Indenture

 

 

	 	 	 	 	 
	 	EXISTING GUARANTORS (continued):

KROLL LABORATORY SPECIALISTS, INC.

LABORATORY SPECIALISTS OF AMERICA, INC.

SCIENTIFIC TESTING LABORATORIES, INC.

 	 
	 	By:  	/s/ Jay McNamara
 	 
	 	 	Name:  	Jay McNamara 	 
	 	 	Title:  	Assistant Secretary 	 
	 

Signature Page to Eighth Supplemental Indenture

 

 

	 	 	 	 	 
	 	EXISTING GUARANTORS (continued):

MATRIA OF NEW YORK, INC.

 	 
	 	By:  	/s/ Tom Underwood
 	 
	 	 	Name:  	Tom Underwood 	 
	 	 	Title:  	President 	 
	 

Signature Page to Eighth Supplemental Indenture

 

 

	 	 	 	 	 
	 	TRUSTEE:

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 
	 	By:  	/s/ Thomas E. Tabor
 	 
	 	 	Name:  	Thomas E. Tabor 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Eighth Supplemental Indenture

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