Document:

EX-10.50

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Exhibit 10.50 
  

 
 3055 Lebanon Pike 
 Nashville,
TN 37214 
 615.932.3000 phone 
 www.changehealthcare.com 

03.19.2018 
 August Calhoun 

[address] 
 Dear August: 

This letter will confirm the terms of your offer of employment with Change Healthcare Operations LLC, and/or its affiliates (the “Company”). It is
anticipated that your first day of employment with the Company will be April 2, 2018. Such terms are as follows: 
 1. Position
and Responsibilities. You will be a full time exempt employee and will serve in the position of EVP, Sales & Operations for Change Healthcare. You will be based remotely from your home and will report to Neil de Crescenzo, or other
person as may be designated by the Company from time to time. You will assume and discharge all responsibilities commensurate with such position and as your manager may direct. During your employment with the Company, you shall devote your full-time
attention to your duties and responsibilities and shall perform them faithfully, diligently and completely. In addition, you shall comply with and be bound by the operating policies, procedures and practices of the Company including, without
limitation, the Code of Conduct, in effect from time to time during your employment. You acknowledge that you may be required to travel in connection with the performance of your duties. 

2. Compensation. 
  

	 	(a)	 In consideration of your services, you will be paid an annual rate of $450,000.00, on a biweekly basis,
payable in accordance with the Company’s prevailing payroll practices. 

  

	 	(b)	 You are eligible for a $100,000.00 sign-on bonus payment,
subject to standard tax withholdings. This eligibility is contingent upon acceptance of the Change Healthcare Bonus Repayment Agreement, hereto attached as Annex B. For more information on the process, please contact your local Human Resources
Representative. 

  

	 	(c)	 You will receive a target bonus of 85% of your annual base salary, the amount of which to be determined
at the Company’s sole discretion. Annual target bonus payouts are based on both individual and Company performance, and will be paid in accordance with the Company’s bonus distribution schedule. 

  
 Initial: 

        (Company Rep) 

  AC (Employee) 
  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	(d)	 Equity: Contingent upon approval of the Change Healthcare, LLC (or related entity) Board of Directors, you will
be eligible to receive an option to purchase 3,000 shares (the “Shares”) under the Change Healthcare, LLC (or related entity) Equity Incentive Plan (the “Equity Plan”). The Shares will be subject to the terms and
conditions of the Equity Plan and the award agreement which you will be required to sign in order to participate in the equity plan. 

 3.
Other Benefits. You will be entitled to receive the standard employee benefits made available by the Company to its employees to the full extent of your eligibility. You shall be eligible for 16 Paid Time Off (PTO) days per calendar year
consistent with the Company’s PTO Policy. During your employment, you shall be permitted, to the extent eligible, to participate in any group medical, dental, life insurance and disability insurance plans, or similar benefit plan of the Company
that is available to employees generally. Participation in any such plan shall be consistent with your rate of compensation to the extent that compensation is a determinative factor with respect to coverage under any such plan. You have 31 days from
your date of hire to complete your Benefits enrollment forms online. Benefits eligibility begins on the first of the month following your date of hire with the Company (this excludes short-term disability insurance which begins 90 days after the
first day of your employment). The Company shall reimburse you for all reasonable expenses actually incurred or paid by you in the performance of your services on behalf of the Company, upon prior authorization and approval in accordance with the
Company’s expense reimbursement policy as from time to time in effect. 
 4. Severance Provisions. You shall receive severance benefits in
accordance with the executive severance guidelines in place at the Company at the time of your separation from employment, in the event your employment is terminated by the Company without Cause as defined under the applicable guidelines, but in no
event shall you receive less than a lump sum payment the equivalent to twelve(12) months’ base salary and payment of, in lump sum, an amount equivalent to the COBRA health insurance premiums that the Company would pay for employees with similar
coverage during the twelve (12) month period following your separation. Furthermore, in the event of a Change in Control, as defined under the applicable severance guidelines, that results in a termination of employment by the Company without
Cause as defined under the applicable guidelines, you shall receive severance benefits in accordance with the then in place executive severance guidelines, but in no event shall you receive less than a lump sum payment the equivalent to twelve
(12) months’ base salary, payment of the AIP bonus at full target payout for the twelve (12) month period following your date of separation, and payment of, in lump sum, an amount equivalent to the COBRA health insurance premiums that
the Company would pay for employees with similar coverage during the twelve (12) month period following your separation. 
 5. Restrictive
Covenants. You agree that your employment is contingent upon your execution of, and delivery to the Company of a Company Protection Agreement in the form attached hereto as Annex A. 

  
 Initial: 

        (Company Rep) 

  AC (Employee) 
  

2 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 6. Conflicting Employment. You agree that, during your employment with the Company, you will not
engage in any other employment, occupation, consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during your employment, nor will you engage in any other activities that
conflict with your obligations to the Company. 
 7. At-Will Employment. You acknowledge that your employment
with the Company is for an unspecified duration that constitutes at-will employment, and that either you or the Company can terminate this relationship at any time, with or without cause and with or without
notice. 
 8. Prior Employment. You represent that you have delivered to the Company an accurate and complete copy of any and all agreements with any
prior employer to which you are or may continue to be subject. In the event of a dispute under the terms of an agreement with a prior employer that is fully disclosed to the Company prior to the execution of this Agreement, the Company will
indemnify you for any costs and potential liability associated with the terms of those agreements. Furthermore, the Company agrees to use commercially reasonable methods to amend or modify job responsibilities, if necessary, to avoid conflict with
any agreement with a prior employer that is fully disclosed to the Company prior to the execution of this Agreement. 
 However, in your work for the
Company, you will be expected not to use or disclose any confidential information, including trade secrets, of any former employer or other person to whom you have an obligation of confidentiality. Rather, you will be expected to use only that
information which is generally known and used by persons with training and experience comparable to your own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the
Company. During our discussions about your proposed job duties, you assured us that you would be able to perform those duties within the guidelines just described. 

You agree you will not bring onto Company premises any unpublished documents or property belonging to any former employer or other person to whom you have any
obligation of confidentiality. 
 9. Section 409A. It is intended that (1) each installment of the payments provided under this letter is a
separate “payment” for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and (2) that the payments satisfy, to the greatest extent possible, the exemptions from the application of
Section 409A of the Code provided under Treasury Regulations 1.409A-1(b)(4), 1.409A-1(b)(9)(iii), and 1.409A-1(b)(9)(v).
Notwithstanding anything to the contrary in this letter, if the Company determines (i) that on the date your employment with the Company terminates or at such other times that the Company determines to be relevant, you are a “specified
employee” (as such term is defined under Treasury Regulation 1.409A-1(i)) of the Company and (ii) that any payments to be provided to you pursuant to this letter are or may become subject to the
additional tax under Section 409A(a)(1)(B) of the Code or any other taxes or penalties imposed under Section 409A of the Code if provided at the time otherwise required under this letter, then such payments shall be delayed until the date
that is six months after the date of your “separation from service” (as such term is defined under Treasury Regulation 1.409A-1(h)) with the Company, or, if earlier, the date of your death. Any
payments 

  
 Initial: 

        (Company Rep) 

  AC (Employee) 
  

3 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 
delayed pursuant to this Section shall be made in lump sum on the first day of the seventh month following your “separation from service” (as such term is defined under Treasury
Regulation 1.409A-1(h)), or, if earlier, the date of your death. In addition, to the extent that any reimbursement, fringe benefit or other, similar plan or arrangement in which you participate during the term
of your employment under this letter or thereafter provides for a “deferral of compensation” within the meaning of Section 409A of the Code, (i) the amount eligible for reimbursement or payment under such plan or arrangement in
one calendar year may not affect the amount eligible for reimbursement or payment in any other calendar year (except that a plan providing medical or health benefits may impose a generally applicable limit on the amount that may be reimbursed or
paid), and (ii) subject to any shorter time periods provided herein or the applicable plans or arrangements, any reimbursement or payment of an expense under such plan or arrangement must be made on or before the last day of the calendar year
following the calendar year in which the expense was incurred. 
 Notwithstanding any other provision to the contrary, a termination of employment shall not
be deemed to have occurred for purposes of any provision of this letter providing for the payment of “deferred compensation” (as such term is defined in Section 409A of the Code and the Treasury Regulations promulgated thereunder)
upon or following a termination of employment unless such termination is also a “separation from service” from the Company within the meaning of Section 409A of the Code and
Section 1.409A-1(h) of the Treasury Regulations and, for purposes of any such provision of this letter, references to a “separation,” “termination,” “termination of
employment” or like terms shall mean “separation from service. 
 Notwithstanding any other provision to the contrary, in no event shall any
payment under this letter that constitutes “deferred compensation” for purposes of Section 409A of the Code and the Treasury Regulations promulgated thereunder be subject to offset by any other amount unless otherwise permitted by
Section 409A of the Code. 
 For the avoidance of doubt, any payment due under this letter within a period following your termination of employment,
death, Permanent Disability or other event shall be made on a date during such period as determined by the Company in its sole discretion. 
 This letter
shall be interpreted in accordance with, and the Company and you will use their best efforts to achieve timely compliance with, Section 409A of the Code and the Treasury Regulations and other interpretive guidance promulgated thereunder,
including without limitation any such regulations or other guidance that may be issued after the effective date of this letter. 
 10. General
Provisions. 
  

	 	(a)	 Your employment is contingent upon successful completion of applicable screens, clearances, and reference
checks. We would caution you not to resign any current employment until you have received notification of successful completion of all. 

  
 Initial: 

        (Company Rep) 

  AC (Employee) 
  

4 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	(b)	 We are required by law to confirm your eligibility for employment in the United States. Thus, you will be asked
to provide proof of your identity and eligibility to work in the U.S. on your start date. The Company participates in e-verify. 

 

	 	(c)	 This offer letter and the terms of your employment will be governed by the laws of Tennessee, applicable to
agreements made and to be performed entirely within such state. 

  

	 	(d)	 This offer letter sets forth the entire agreement and understanding between the Company and you relating to
your employment and supersedes all prior verbal discussions between us. 

  

	 	(e)	 This agreement will be binding upon your heirs, executors, administrators and other legal representatives and
will be for the benefit of the Company and its respective successors and assigns. 

  

	 	(f)	 All payments pursuant to this letter will be subject to applicable withholding taxes. 

Please acknowledge and confirm your acceptance of this letter by signing and returning one copy of this offer letter in its entirety to the Talent Acquisition
Coordinator. Note that this offer will not be binding until countersigned by the Company. Your new hire packet will provide you with further instructions for additional required paperwork. We look forward to a mutually rewarding working arrangement.

  

			
	By	 	  

		 	Michael Lee
		 	Sr. Director, Executive Recruitment

  
 Initial: 

        (Company Rep) 

  AC (Employee) 
  

5 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 OFFER ACCEPTANCE: 

I accept the terms of my employment with Change Healthcare as set forth herein and in any attached Annexes. I understand that this offer letter
does not constitute a contract of employment for any specified period of time, and that either party, with or without cause and with or without notice, may terminate my employment relationship. 

 

			
	            /s/ August
Calhoun                                        
                	  	Date: 3/21/2018

  
 Initial: 

        (Company Rep) 

  AC (Employee) 
  

6GreenPower Motor Company Inc.: Exhibit 10.1 - Filed by newsfilecorp.com

    

    MANAGEMENT SERVICES AGREEMENT

    THIS AGREEMENT is made effective as of the 1st day of January, 2016.

    BETWEEN:

    GreenPower Motor Company Inc., a B.C. Company, having its office at 240 - 209 Carrall Street, Vancouver, B.C.  V6B 2J2

    (hereinafter called "GreenPower")

    AND:

    Koko Financial Services Inc. a B.C. Company having its office at ***

    (hereinafter called the "Manager")

    WHEREAS: 

    A. GreenPower Motor Company Inc. a public company that is a reporting issuer whose shares are listed for trading on the TSX Venture Exchange which develops electric powered vehicles for commercial markets. GreenPower Motor Company Inc. offers a range of all-electric heavy duty and school buses deploying electric drive and battery technologies with a lightweight chassis and low floor or high floor body. These all-electric buses are based on a flexible clean sheet design and utilize a custom battery management system and a proprietary Flex Power system for the drive motors. GreenPower Motor Company Inc. sources and integrates key vehicle components from global suppliers, such as Siemens for the two drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems;

    B. Koko Financial Services Inc. (the "Manager") is a private company that provides professional and management services and has personnel, being Fraser Atkinson the designated personnel, who are qualified to provide professional and management services to GreenPower and such personnel possess the requisite skills, expertise, experience and contacts to provide such services to GreenPower; and

    C. GreenPower wishes to engage the Manager and its personnel to provide the services more particularly set in Article 1 and the terms and conditions of this Agreement.

    NOW THEREFORE THIS AGREEMENT WITNESSES that, in consideration of the premises and of the mutual covenants and agreements herein contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which is acknowledged by each of the parties, the parties covenant and agree as follows:

    

    
        2

    

    ARTICLE 1

    PROVISION OF SERVICES

    1.1 Appointment of the Manager

    Effective the 1st day of January, 2016, the Manager's designated personnel shall be engaged by GreenPower with the duties set out in this Agreement, as amended from time to time, and the Manager accepts the appointment with the designated personnel Fraser Atkinson acting as the Executive Chairman of GreenPower and the Executive Chairman of all of GreenPower's sunsidiary companies for a term of one year, reporting to the Board of Directors of GreenPower Motor Company Inc.

    1.2 The Services

    The Manager shall cause its designated personnel to provide the services (the "Services") to GreenPower as set forth in the attached Schedule A or such other duties as GreenPower or its affiliated companies or the Board of Directors of GreenPower Motor Company Inc. shall from time to time require.

    1.3 Provision of The Services

    The Manager will report to the Board of Directors of GreenPower Motor Company Inc. and the Manager will provide GreenPower and its affiliated companies with the Services within such reasonable timeframe, to such extent and in such manner and specifications as requested by GreenPower from time to time, acting reasonably.

    1.4 Terms

    The Manager agrees to devote his full time efforts in the performance of the Services.

    ARTICLE 2
COMPENSATION FOR SERVICES

    2.1 Base compensation

    So long as this Agreement remains in effect, GreenPower shall pay the Manager a Base Fee of CDN $12,500 per month (plus GST) for carrying out the services payable on the last day of each month.  The Base Fee does not include any bonuses that might be paid to the Manager for carrying out the Services.

    2.2 Bonuses\Stock Options

    The Manager is eligible to participate in the stock option plan and any bonus plan that the Company makes available to the management team.

    ARTICLE 3
TAXES

    3.1 Taxes

    This Agreement contemplates that the Manager will be a contractor to GreenPower. The Manager hereby agrees to pay any taxes now or in the future owing as a result of the payment of the Compensation paid to the Manager pursuant to this Agreement.

    

    
        3

    

    ARTICLE 4
NON-DISCLOSURE, NON-COMPETE AND NON-CIRCUMVENTION

    4.1 Non-Disclosure

    The Manager shall not, during the term of this Agreement, and for a period of twenty four (24) months after the termination of this Agreement, divulge, publish or otherwise reveal, either directly or through another person, to any person, firm or corporation any information concerning proprietary information belonging to GreenPower or of any of its affiliates.

    4.2 Non-Compete

    The Manager shall not, during the term of this Agreement, and for a period of twenty four (24) months after the termination of this Agreement, divulge, directly or indirectly compete with the business of GreenPower or of any of its affiliates.

    4.3 Non-Circumvention

    It is hereby agreed that the Manager will not circumvent GreenPower in any of its business dealings or transactions.

    ARTICLE 5

    TERM AND TERMINATION

    5.1 Term

    This agreement shall be for a term of one year from the date of this Agreement.  If neither party has provided the other party with a notice of termination then the Agreement shall automatically renew on a month to month basis.

    5.2 Termination by Either Party

    GreenPower may terminate the Manager for cause and either the Manager or GreenPower, may terminate this Agreement immediately upon written notice to the other where:

    (i) the other is in breach of any provision of this Agreement and such breach is not remedied within sixty (60) days written notice; or

    (ii) if the other passes a resolution or any order is made for the winding-up, disillusionment, bankruptcy or other form of creditor protection of that party;

    ARTICLE 6
MISCELLANEOUS

    6.1 Notice

    All notices and other communications between the parties to this Agreement shall be in writing and shall be deemed to have been given if delivered personally or by confirmed facsimile to the parties at the following addresses (or at such other address for any such party as shall be specified in like notice):

    

    
        4

    

    (a) if to GreenPower:

     240 - 209 Carrall Street, Vancouver, B.C.  V6B 2J2

    (b) if to the Manager:

     ***

    Any notice or other communication given personally shall be deemed to have been given and received upon delivery thereof and if given by facsimile shall be deemed to have been given and received on the date of confirmed receipt thereof unless such day is not a business day in which case it shall be deemed to have been given and received upon the immediately following business day.

    6.2 Amendment and Waiver

    No amendment or waiver of this Agreement shall be binding unless executed in writing by both GreenPower and the Manager.  No waiver of any provision of this Agreement shall be deemed or shall constitute a waiver of any other provision nor shall any waiver constitute a continuing waiver unless otherwise expressly provided.

    6.3 Assignment and Successors

    This Agreement shall not be assigned without the written consent of the other party, which consent may be unreasonably withheld.  This Agreement will be binding upon and will enure to the benefit of the parties and upon their respective successors and permitted assigns.

    6.4 Governing Law

    This Agreement will be governed by and construed in accordance with the laws of the Parent Company of GreenPower being the Province of British Columbia and any laws of Canada applicable in British Columbia, which will be deemed to be the proper laws of this Agreement.  Each of the parties irrevocably attorns to the jurisdiction of the Courts of British Columbia and all disputes relating to this Agreement will be resolved in the Courts of British Columbia in the City of Vancouver.

    6.6 Severability

    If any covenant, obligation or term of this Agreement, or the application thereof to any party or circumstance will, to any extent, be invalid or unenforceable, then the remainder of this Agreement or the application of such covenant, obligation or term to parties or circumstances other than those as to which it is held invalid or unenforceable will not be affected thereby and each covenant, obligation and term of this Agreement will be separately valid and enforceable to the fullest extent permitted by the law.

    6.7 Entire Agreement

    This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and collectively cancels and supersedes all prior discussions, expectations, understandings, communications, representations and agreements whether verbal or written between the parties with respect to the subject matter hereof.

    

    
        5

    

    6.8 Non-Waiver

    No condoning, excusing or waiver by any party to this Agreement of any default, breach or non-observance by any other party to this Agreement at any time in respect of any covenant, provision or condition contained in this Agreement will operate as a waiver of that party's rights under this Agreement, or so as to defeat or affect in any way the rights of that party, in respect of any continuing or subsequent default, breach or non-observance, and no waiver will be inferred from or implied by anything done or omitted to be done by the party having those rights.

    6.9 Headings

    The insertion of headings in this Agreement are for convenience of reference only and will not affect the construction or interpretation of this Agreement.

    IN WITNESS WHEREOF the parties hereto have executed this Agreement effective as of the day and year first above written.

    Koko Financial Services Inc.

    Per:

    /s/ Fraser Atkinson

    _______________________________________

    Fraser Atkinson, President

    GreenPower Motor Company Inc.

    Per:

    /s/ Malcolm Clay

    _______________________________________

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