Document:

exhibit103

Exhibit 10.3 EXECUTION VERSION  SECOND AMENDMENT TO  AMENDED AND RESTATED PERFORMANCE UNDERTAKING  THIS  SECOND AMENDMENT TO AMENDED AND RESTATED PERFORMANCE UNDERTAKING, dated as of December 18, 2017 (this “Amendment”) is executed by AMERISOURCEBERGEN CORPORATION, a Delaware corporation (the “Performance Guarantor”). R E C I T A L S A. The Performance Guarantor executed in favor of Amerisource Receivables Financial Corporation that certain Amended and Restated Performance Undertaking Agreement, dated as of December 2, 2004 (as amended, restated, supplemented or otherwise modified from time to time, the “Undertaking”). B. The Performance Guarantor desire to enter into this Amendment to amend the Undertaking.  NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Performance Guarantor: 1. Certain Defined Terms.  Capitalized terms used but not defined herein shall have the meanings set forth for such terms in the Undertaking, including by reference therein. 2. Amendment to the Undertaking.  The Undertaking is hereby amended as follows: 2.1 Clause (b)(i) of the definition of “Guaranteed Obligations” as set forth in Section 1 of the Undertaking is hereby replaced in its entirety with the following: “(i) as Servicer under the Amended and Restated Receivables Purchase Agreement, dated as of April 29, 2010, by and among Recipient, as Seller, AmerisourceBergen Drug Corporation, as Servicer, the various Purchaser Groups from time to time party thereto, and The Bank of Tokyo- Mitsubishi UFJ, Ltd., as Administrator (as amended, restated or otherwise modified, the “Receivables Purchase Agreement” and, together with the Sale Agreement, the “Agreements”) or” 2.2 Section 6(g) of the Undertaking is hereby replaced in its entirety with the following: “(g) Financial Covenants.  Performance Guarantor shall comply at all times with the covenants set forth in Sections 6.09 and 6.10 of the Credit Agreement (without giving effect to any amendment, waiver, termination, supplement or other modification thereof unless consented to by the Administrator and the Required Purchaser Agents).”    726152227 03128405 

 

3. Representations and Warranties.  The Performance Guarantor represents and warrants that: (a)  Representations and Warranties.  Each representation and warranty made by it in the Undertaking, as amended by this Amendment, and in the other Transaction Documents are true and correct as of the date hereof (unless stated to relate solely to an earlier date, in which case such representations and warranties were true as of such earlier date). (b) Enforceability.  The execution and delivery by it of this Amendment, and the performance of its obligations under this Amendment and the Undertaking (as amended hereby) are within its corporate powers and have been duly authorized by all necessary corporate action on its part.  Each of this Amendment and the Undertaking (as amended hereby) is its valid and legally binding obligations, enforceable in accordance with its respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law. 4. Effect of Amendment.  All provisions of the Undertaking, as expressly amended and modified by this Amendment, shall remain in full force and effect.  After this Amendment becomes effective, all references in the Undertaking to “this Undertaking”, “hereof”, “herein”, or words of similar effect referring to the Undertaking shall be deemed to be references to the Undertaking, as amended by this Amendment.  This Amendment shall not be deemed to expressly or impliedly waive, amend or supplement any provision of the Undertaking (or any related document or agreement) other than as set forth herein. 5. Effectiveness.  This Amendment shall become effective on the date hereof (the “Effective Date”) subject to the condition precedent each Purchaser Agent shall have received, on or before the Effective Date, each of the following, each in form and substance satisfactory to each Purchaser Agent: (a) counterparts of this Amendment, duly executed by the parties hereto; and (b) such other documents and instruments as a Purchaser may reasonably request. 6. Counterparts.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, and each counterpart shall be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.  Counterparts of this Amendment may be delivered by facsimile transmission or other electronic transmission, and such counterparts shall be as effective as if original counterparts had been physically delivered, and thereafter shall be binding on the parties hereto and their respective successors and assigns. 7. GOVERNING LAW.  THIS UNDERTAKING SHALL BE CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF NEW YORK.  2  726152227 03128405 

 

8. Section Headings.  The various headings of this Amendment are inserted for convenience only and shall not affect the meaning or interpretation of this Amendment or any other Transaction Document or any provision hereof or thereof. [signature pages on next page]  3  726152227 03128405 

 

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written.   AMERISOURCEBERGEN  CORPORATION   By:   /s/ J.F. Quinn Name: J.F. Quinn Title:   Vice President & Corporate Treasurer    Acknowledged and Agreed to: AMERISOURCE RECEIVABLES FINANCIAL CORPORATION By:   /s/ J.F. Quinn   Name:  J.F. Quinn Title:    Vice President & Corporate Treasurer   S-1 SECOND AMENDMENT TO PERFORMANCE UNDERTAKING  726152227 03128405 

 

THE BANK OF TOKYO-MITSUBISHI UFJ,  LTD., as Administrator and as Purchaser  Agent for the Victory Receivables Corporation  Purchaser Group   By:    /s/ Luna Mills  Name: Luna Mills  Title:   Managing Director  S-2 SECOND AMENDMENT TO PERFORMANCE UNDERTAKING  726152227 03128405 

 

THE BANK OF NOVA SCOTIA, as Purchaser Agent for the Liberty Street  Funding LLC Purchaser Group By:   /s/ Michelle C. Phillips      Name: Michelle C. Phillips       Title:   Execution Head & Director  S-3 SECOND AMENDMENT TO PERFORMANCE UNDERTAKING  726152227 03128405 

 

PNC BANK, NATIONAL ASSOCIATION,  as a Purchaser Agent By:   /s/ Eric Bruno       Name:  Eric Bruno       Title:    Senior Vice President  S-4 SECOND AMENDMENT TO PERFORMANCE UNDERTAKING  726152227 03128405 

 

WELLS FARGO BANK, NATIONAL  ASSOCIATION, as Purchaser Agent for the  Wells Fargo Bank, National Association  Purchaser Group By:   /s/ Eero Maki Name: Eero Maki Title:   Managing Director   S-5 SECOND AMENDMENT TO PERFORMANCE UNDERTAKING  726152227 03128405 

 

MIZUHO BANK, LTD., as a Purchaser Agent    By:   /s/ Bertram H. Tang Name: Bertram H. Tang Title:   Authorized Signatory   S-6 SECOND AMENDMENT TO PERFORMANCE UNDERTAKING  726152227 03128405EX-10.1

 Exhibit 10.1 

SPS COMMERCE, INC. 
 2010
EQUITY INCENTIVE PLAN 
 Performance Stock Unit Agreement 

SPS Commerce, Inc. (the “Company”), pursuant to its 2010 Equity Incentive Plan, as amended (the “Plan”),
hereby grants to you, the Participant named below, an award of Performance Stock Units (the “PSUs”). The terms and conditions of this Performance Stock Unit Award (this “Award”) are set forth in this Performance
Stock Unit Agreement (the “Agreement”), consisting of this cover page, the Award Terms and Conditions on the following pages and the attached Exhibit A, and in the Plan document, a copy of which has been
provided to you. To the extent any capitalized term used in this Agreement is not defined, it shall have the meaning assigned to it in the Plan as it currently exists or as it is amended in the future. 

 

			
	 	 
	Name of Participant:	  	 
	 	 
	Target Number of PSUs:	  	 
	 	 
	Maximum Number of PSUs:        	  	 
	 	 
	Grant Date:	  	 
	 	 
	Performance Period:	  	 
	 	 
	Vesting Schedule:	  	The number of PSUs determined in accordance with Exhibit A to have been earned as of the end of the Performance Period will vest* on the date the Company’s
Compensation Committee certifies such performance results, which shall be no later than March 15, 20    .
	 	 
	Performance Goals:	  	See Exhibit A
	 
	* Assumes your Service has been continuous from the Grant Date to the vesting
date.

 By signing or otherwise authenticating this cover page, you agree to all of the terms and conditions contained
in this Agreement and in the Plan document. You acknowledge that you have received and reviewed these documents and that they set forth the entire agreement between you and the Company regarding this Award. 

 

									
	PARTICIPANT:	 		 	SPS COMMERCE, INC.
					
		 	 	 		 	By:	 	 
		 		 		 	Title:	 	 

 SPS Commerce, Inc. 

2010 Equity Incentive Plan, as amended 

Performance Stock Unit Agreement 

Award Terms and Conditions 

1.    Award of Performance Stock Units. The Company hereby confirms the grant to you, as of the Grant Date and
subject to the terms and conditions of this Agreement and the Plan, of an award of Performance Stock Units in an amount initially equal to the Target Number of PSUs specified on the cover page of this Agreement. The number of PSUs that may actually
be earned and become eligible to vest pursuant to this Award can be between         % and         % of the Target Number of PSUs, but may not under any circumstances
exceed the Maximum Number of PSUs specified on the cover page of this Agreement. Each PSU that is earned as a result of the performance goals specified in Exhibit A to this Agreement having been satisfied and which thereafter vests represents
the right to receive one Share of the Company’s common stock. Prior to their settlement or forfeiture in accordance with the terms of this Agreement, the PSUs granted to you will be credited to an account in your name maintained by the Company.
This account will be unfunded and maintained for book-keeping purposes only, with the PSUs simply representing an unfunded and unsecured contingent obligation of the Company. 

2.    Restrictions Applicable to PSUs. Neither this Award nor the PSUs subject to this Award may be sold, assigned,
transferred, exchanged or encumbered, voluntarily or involuntarily, other than a transfer upon your death in accordance with your will, by the laws of descent and distribution or pursuant to a beneficiary designation submitted in accordance with
Section 6(d) of the Plan. Following any such transfer, the PSUs shall continue to be subject to the same terms and conditions that were applicable to the PSUs immediately prior to their transfer. Any attempted transfer in violation of this
Section 2 shall be void and ineffective. The PSUs and your right to receive Shares in settlement of any PSUs under this Agreement shall be subject to forfeiture except to the extent the PSUs have been earned and thereafter vest as provided in
Sections 4 and 5. 
 3.    No Shareholder Rights. The PSUs subject to this Award do not entitle you to any rights of a
shareholder of the Company’s common stock. You will not have any of the rights of a shareholder of the Company in connection with any PSUs granted or earned pursuant to this Agreement unless and until Shares are issued to you in settlement of
earned and vested PSUs as provided in Section 6. 
 4.    Vesting and Forfeiture of PSUs. The PSUs shall vest
at the earliest of the following times and to the degree specified. 
 (a)    Scheduled Vesting. The number of
PSUs that have been earned during the Performance Period, as determined by the Committee in accordance with Exhibit A, will vest on the Scheduled Vesting Date, so long as your Service has been continuous from the Grant Date to the Scheduled
Vesting Date. For these purposes, the “Scheduled Vesting Date” means the date the Committee certifies (i) the degree to which the performance goal for the Performance Period has been satisfied, and (ii) the number of PSUs that
have been earned during the Performance Period as determined in accordance Exhibit A, which certification shall occur no later than March 15 of the calendar year immediately following the calendar year during which the Performance Period
ended. 
 (b)    Change in Control. If a Change in Control occurs after the Grant Date but before the Scheduled
Vesting Date and your Service continues to the date of the Change in Control, then the Performance Period will be truncated and will end as of the end of the Company’s most recently completed fiscal quarter prior to the date of the Change in
Control. You will be entitled to have vest as of the date of the Change in Control the number of PSUs that are determined to have been earned based on actual 

 
performance against the performance goal specified in Exhibit A over the truncated Performance Period. You acknowledge and agree that with respect to any employment or severance agreement
between you and the Company, the number of PSUs subject to accelerated vesting pursuant to this Section 4(b) shall conclusively be deemed 100% of the unvested PSUs subject to this Award. 

(c)    Forfeiture of Unvested PSUs. To the extent Sections 4(a) or 4(b) is applicable to this Award, any PSUs that
do not vest on the applicable vesting date as provided therein shall immediately be forfeited. If your Service terminates prior to the Scheduled Vesting Date under circumstances other than as set forth in Section 4(b), all unvested PSUs shall
immediately be forfeited. 
 5.    Settlement of PSUs. As soon as practicable after any Vesting Date, but no later than 75
days thereafter, the Company shall cause to be issued to you (or your beneficiary or personal representative) one Share in payment and settlement of each vested PSU. Delivery of the Shares shall be effected by the issuance of a stock certificate to
you, by an appropriate entry in the stock register maintained by the Company’s transfer agent with a notice of issuance provided to you, or by the electronic delivery of the shares to a brokerage account you designate, and shall be subject to
the tax withholding provisions of Section 6 and compliance with all applicable legal requirements, including compliance with the requirements of applicable federal and state securities laws, and shall be in complete satisfaction and settlement
of such vested PSUs. 
 6.    Tax Consequences and Withholding. As a condition precedent to the delivery of Shares in
settlement of the PSUs, you are required to pay to the Company, in accordance with Section 14 of the Plan, the amount of any required domestic or foreign tax withholding obligations, including any social security or social insurance obligations
(“Tax Withholding Obligations”). You hereby authorize the Company to withhold from payroll or other amounts payable to you any sums required to satisfy such Tax Withholding Obligations. Prior to the Vesting Date, you must make
arrangements acceptable to the Company for payment of any Tax Withholding Obligations, which may include (i) delivering Shares you already own or having the Company retain a portion of the Shares that would otherwise be delivered to you, in
either case with an aggregate Fair Market Value equal to the required amount of the Tax Withholding Obligations, or (ii) establishing a “10b5-1 Plan” pursuant to which a brokerage firm
acceptable to the Company is authorized to sell on your behalf in the open market at the then prevailing market price(s) as soon as practicable on or after the Vesting Date the minimum whole number of Shares from the Shares issuable to you in
settlement of the vested PSUs as is determined to be sufficient to generate cash proceeds adequate to satisfy such Tax Withholding Obligations. 

7.    Discontinuance of Service. This Agreement does not give you a right to continued Service with the Company or any
Affiliate, and the Company or any such Affiliate may terminate your Service at any time and otherwise deal with you without regard to the effect it may have upon you under this Agreement. Nothing in this Agreement is intended to, or does, constitute
a contract of employment between you and the Company or any Affiliate. 
 8.    Governing Plan Document. This Agreement
and the Award are subject to all the provisions of the Plan, and to all interpretations, rules and regulations which may, from time to time, be adopted and promulgated by the Committee pursuant to the Plan. If there is any conflict between the
provisions of this Agreement and the Plan, the provisions of the Plan will govern. 
 9.    Choice of Law. This Agreement
will be interpreted and enforced under the laws of the state of Minnesota (without regard to its conflicts or choice of law principles). 

  
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 10.    Binding Effect. This Agreement will be binding in all respects on your
heirs, representatives, successors and assigns, and on the successors and assigns of the Company. 
 11.    Severability.
If any term or provision in this Agreement shall be held to any extent to be unlawful, void or unenforceable under any enactment or rule of law, that term or provision shall, to that extent, be deemed not to be part of this Agreement and the
validity and enforceability of the remainder of this Agreement shall not be affected. 

12.    Section 409A of the Code. The award of PSUs as provided in this Agreement and any
issuance of Shares or payment pursuant to this Agreement are intended to be exempt from Section 409A of the Code under the short-term deferral exception specified in Treas. Reg. § 1.409A-l(b)(4).

 13.    Compensation Recovery Policy. To the extent that any compensation paid or payable pursuant to this Agreement is
considered “incentive-based compensation” within the meaning and subject to the requirements of Section 10D of the Exchange Act, such compensation shall be subject to potential forfeiture or recovery by the Company in accordance with
any compensation recovery policy adopted by the Board or any committee thereof in response to the requirements of Section 10D of the Exchange Act and any implementing rules and regulations thereunder adopted by the Securities and Exchange
Commission or any national securities exchange on which the Company’s common stock is then listed. This Agreement may be unilaterally amended by the Company to comply with any such compensation recovery policy. 

By signing or otherwise authenticating the cover page of this Agreement, you agree to all the terms and conditions described above and in the Plan
document. 

  
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