Document:

Exhibit 10.1

 

FIRST AMENDMENT TO CREDIT AGREEMENT

THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “First Amendment”), dated as of April 22, 2016, among ALERE INC., a Delaware corporation (the “Borrower”), each of the Guarantors (as defined in the Credit Agreement referred to below) party hereto, the Lenders (as defined in the Credit Agreement referred to below) party hereto, GOLDMAN SACHS BANK USA, as the B Term Loan Administrative Agent (as defined in the Credit Agreement referred to below), and HEALTHCARE FINANCIAL SOLUTIONS, LLC, as the Pro Rata Administrative Agent (as defined in the Credit Agreement referred to below), is made with reference to that certain Credit Agreement, dated as of June 18, 2015 (as amended, modified or supplemented through, but not including, the date hereof, the “Credit Agreement”), by and among the Borrower, the Lenders, the Administrative Agents (as defined in the Credit Agreement referred to below) and the other parties thereto.  Unless otherwise indicated, all capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Credit Agreement.

W I T N E S S E T H:

WHEREAS, the Borrower, the Administrative Agents and each Lender party hereto desire to amend the Credit Agreement and to waive certain Defaults thereunder, in each case as provided herein;

NOW, THEREFORE, it is agreed:

I.                    Amendments and Modifications to Credit Agreement.

1.            Section 1.1 of the Credit Agreement is hereby amended by adding to the end of the definition of “Applicable Margin” the following sentence:

“In the event that the date of delivery of the Specified Financial Statements is extended to a date that is July 1, 2016 or later in accordance with this Agreement, each of the interest rate margins set forth above in this definition shall be increased by 0.25% for the period from July 1, 2016 to, but not including, the Financial Statement Delivery Date.”

  

2.            Section 1.1 of the Credit Agreement is hereby amended by inserting in the appropriate alphabetical order the following new definitions:

“First Amendment Consenting Lender” means any Lender that has delivered to its Applicable Administrative Agent (or its counsel) an executed counterpart of the First Amendment on or prior to 4:00 p.m., New York City time, on April 21, 2016.

“Existing 2018 Senior Notes Trustee Notice” has the meaning specified in Section 6.1(b).

 

 

“Extension Fee” means, in respect of any First Amendment Consenting Lender, an amount payable in Dollars equal to 0.125% of the sum of (I) the aggregate principal amount of such Lender’s outstanding Term Loans on the First Amendment Effective Date and (II) the amount of such Lender’s Revolving Credit Commitment on the First Amendment Effective Date (it being understood and agreed that, to the extent any such First Amendment Consenting Lender has assigned all or a portion of its outstanding Term Loans and/or Revolving Credit Commitment after the First Amendment Effective Date, the Applicable Administrative Agent shall, notwithstanding anything to the contrary in the Applicable Assignment, still pay the full amount of such Extension Fee to such assigning Lender and, to the extent that all or any portion of any such Extension Fee is to be shared with any assignee of such assigning Lender, such arrangement shall be separately set forth in the applicable Assignment and such payment shall be made directly by such assigning Lender to such assignee Lender).

“Financial Statement Delivery Date” means the date on which the Borrower shall have delivered all Specified Financial Statements then due to be delivered under this Agreement.

“First Amendment” means the First Amendment dated, as of April 22, 2016, to this Agreement.

“First Amendment Effective Date” means April 22, 2016.

“Notes Waiver” has the meaning specified in Section 6.1(b).

“Specified Audited Financial Statements” has the meaning specified in Section 6.1(b).

“Specified Financial Statements” means the Specified Audited Financial Statements and the Specified Unaudited Financial Statements.

“Specified Unaudited Financial Statements” has the meaning specified in Section 6.1(a).

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3.            Section 6.1(a) of the Credit Agreement is hereby amended by replacing the “.” at the end thereof with the following proviso:

“ ; provided, however, with respect to the Fiscal Quarter ended March 31, 2016, the foregoing quarterly financial statements (such quarterly financial statements for the Fiscal Quarter ended March 31, 2016 being herein referred to as the “Specified Unaudited Financial Statements”) do not have to be delivered by the Borrower to the Administrative Agents until the earliest of (i) June 30, 2016, (ii) to the extent that the trustee for any of the Existing 2018 Senior Notes, the Existing 2020 Subordinated Notes and/or the New 2023 Subordinated Notes has delivered a notice to the Borrower in accordance with the Existing 2018 Senior Notes Indenture, the Existing 2020 Subordinated Notes Indenture and/or the New 2023 Subordinated Notes Indenture (as applicable), in any such case, relating to the Borrower’s failure to timely deliver the Specified Unaudited Financial Statements pursuant to the terms of any such indenture, the date that is seven days prior to the date that any default would become an event of default under the Existing 2018 Senior Notes Indenture, the Existing 2020 Subordinated Notes Indenture and/or the New 2023 Subordinated Notes Indenture as a result of the Borrower’s failure to timely deliver such Specified Unaudited Financial Statements unless the requisite percentage of holders of the Existing 2018 Senior Notes, the Existing 2020 Subordinated Notes and/or the New 2023 Subordinated Notes, as applicable, have consented in writing to an extension for the delivery by the Borrower of such Specified Unaudited Financial Statements pursuant to the terms of the applicable indentures until no earlier than July 7, 2016 and have waived any default or event of default that has arisen from such Specified Unaudited Financial Statements not being timely delivered in accordance with the terms of the applicable indentures, (iii) the date that is 10 Business Days after the Borrower’s delivery to the Administrative Agents pursuant to Section 6.1(b) of the Specified Audited Financial Statements and (iv) the occurrence of any Event of Default unless such Event of Default occurs on or prior to May 15, 2016 ; and, provided further, however, if (x) the Borrower shall have paid to the Administrative Agents on or prior to June 30, 2016, for the benefit of each First Amendment Consenting Lender, the amount of each such Lender’s Extension Fee (which fee shall not be required to be paid more than once under Sections 6.1(a) and 6.1(b)) and (y) to the extent that the trustee for any of the Existing 2018 Senior Notes, the Existing 2020 Subordinated Notes and/or the New 2023 Subordinated Notes has delivered a notice to the Borrower in accordance with the Existing 2018 Senior Notes Indenture, the Existing 2020 Subordinated Notes Indenture and/or the New 2023 Subordinated Notes Indenture (as applicable), the requisite percentage of holders of such outstanding Existing 2018 Senior Notes, Existing 2020 Subordinated Notes and/or New 2023 Subordinated Notes, as applicable, have consented in writing to an extension for the delivery of such Specified Unaudited Financial Statements pursuant to the applicable indenture governing the respective notes until no earlier than July 8, 2016 and have waived any default or event of default that has arisen from such Specified Unaudited Financial Statements not being timely delivered in accordance with the terms of the Existing 2018 Senior Notes Indenture, the Existing 2020 Subordinated Notes Indenture and/or the New 2023 Subordinated Notes Indenture, as applicable, then the date of delivery of the foregoing Specified Unaudited Financial Statements specified in clauses (i) and (ii) above shall be extended to the earlier of (x) the date that is seven days prior to the earliest date that failure to deliver the Specified Unaudited Financial Statements under (or in respect of) the Existing 2018 Senior Notes, the Existing 2020 Subordinated Notes and/or the New 2023 Subordinated Notes would become an Event of Default under the relevant indenture (as described in Section 6.01(3) of such indenture) and (y) August 18, 2016.

Notwithstanding anything to the contrary contained herein, to the extent that the Specified Unaudited Financial Statements have not been delivered to the Administrative Agents by May 15, 2016, then the Borrower shall deliver to the Administrative Agents by no later than May 31, 2016 a preliminary unaudited Consolidated balance sheet of the Borrower as of the end of the Fiscal Quarter ended March 31, 2016 and related preliminary unaudited Consolidated statements of profit and loss and cash flow for such Fiscal Year; it being agreed that the Borrower makes no representation or warranty with respect any such preliminary financial statements.”

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4.            Section 6.1(b) of the Credit Agreement is hereby amended by replacing the “.” at the end thereof with the following proviso:

“ ; provided, however, with respect to the Fiscal Year ended December 31, 2015, the foregoing audited financial statements (and related certification by the Group Members’ Accountants) (such audited financial statements and related certification for the Fiscal Year ended December 31, 2015 being herein referred to as the “Specified Audited Financial Statements”) do not have to be delivered by the Borrower to the Administrative Agents until the earliest of (i) June 30, 2016, (ii) May 16, 2016 unless the requisite percentage of holders of each of the outstanding Existing 2020 Subordinated Notes and New 2023 Subordinated Notes have, in each case, consented in writing to an extension for the delivery by the Borrower of the Specified Audited Financial Statements pursuant to the applicable indentures until no earlier than July 7, 2016 and, in each case, have waived any default or event of default that has arisen from such Specified Audited Financial Statements not being timely delivered in accordance with the respective terms of the Existing 2020 Subordinated Notes Indenture and New 2023 Subordinated Notes Indenture (the “Notes Waiver”), (iii) to the extent that the trustee for the Existing 2018 Senior Notes has delivered a notice to the Borrower in accordance with the Existing 2018 Senior Notes Indenture relating to the Borrower’s failure to timely deliver the Specified Audited Financial Statements pursuant to the Existing 2018 Senior Notes Indenture (an “Existing 2018 Senior Notes Trustee Notice”), the date that is seven days prior to the date that any default would become an event of default under the Existing 2018 Senior Notes Indenture as a result of the Borrower’s failure to timely deliver such Specified Audited Financial Statements pursuant to the Existing 2018 Senior Notes Indenture unless the requisite percentage of holders of the Existing 2018 Senior Notes have consented in writing to an extension for the delivery by the Borrower of such Specified Audited Financial Statements pursuant to the Existing 2018 Senior Notes Indenture until no earlier than July 7, 2016 and have waived any default or event of default that has arisen from such Specified Audited Financial Statements not being timely delivered in accordance with the terms of the Existing 2018 Senior Notes Indenture and (iv) the occurrence of any Event of Default; and, provided further, however, if (x) the Borrower shall have paid to the Administrative Agents on or prior to June 30, 2016, for the benefit of each First Amendment Consenting Lender, the amount of each such Lender’s Extension Fee (which fee shall not be required to be paid more than once under Sections 6.1(a) and 6.1(b)), (y) the requisite percentage of holders of each of the outstanding Existing 2020 Subordinated Notes and New 2023 Subordinated Notes have, in each case, consented in writing to an extension for the delivery of the Specified Audited Financial Statements pursuant to the applicable indentures until no earlier than July 8, 2016 and, in each case, have provided the Notes Waiver and (z) to the extent that the trustee for the Existing 2018 Senior Notes has delivered an Existing 2018 Senior Notes Notice, the requisite percentage of holders of the Existing 2018 Senior Notes have consented in writing to an extension for the delivery of such Specified Audited Financial Statements pursuant to such Existing 2018 Senior Notes Indenture until no earlier than July 8, 2016 and have waived any default or event of default that has arisen from such Specified Audited Financial Statements not being timely delivered in accordance with the terms of the Existing 2018 Senior Notes Indenture, then the date of delivery of the Specified Audited Financial Statements specified in clauses (i), (ii) and (iii) above shall be extended to the earlier of (x) the date that is seven days prior to the earliest date that failure to deliver the Specified Audited Financial Statements under (or in respect of) the Existing 2018 Senior Notes, the Existing 2020 Subordinated Notes and/or the New 2023 Subordinated Notes would become an Event of Default under the relevant indenture (as described in Section 6.01(3) of such indenture) and (y) August 18, 2016.”

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II.                  Limited Waiver.

Upon the satisfaction of the conditions precedent set forth in  Section III.5 hereof, and in reliance upon the representations and warranties of the Loan Parties set forth in the Credit Agreement and in this First Amendment, the Lenders hereby waive any Defaults and/or Events of Default that may have occurred, is occurring or hereafter occur solely as a result of (i) the Borrower’s failure to deliver the audited Consolidated financial statements for the Fiscal Year ended December 31, 2015 pursuant to Section 6.1(b) of the Credit Agreement by no later than 90 days after the end of such Fiscal Year, together with the corresponding Compliance Certificate pursuant to Section 6.1(c) of the Credit Agreement and the related information pursuant to Sections 6.1(d), 6.1(f), 6.1(g) and 6.1(h) of the Credit Agreement, (ii) any restatement of any of the Borrower’s financial statements delivered to any Person prior to December 31, 2015 that may be required as a result of or in connection with the audit of the Specified Audited Financial Statements as a result of the Borrower’s incorrect application of revenue recognition principles for the years ended December 31, 2013, 2014 and 2015 (and each of the quarters in those annual periods) or (iii) any breach of any representation or warranty or affirmative covenant as a result of any misstatement or inaccuracy in any certificate, projection, management’s discussion and analysis, report, opinion or statement (including any financial statement) delivered to any Person that is discovered as part of or in connection with the audit of the Specified Audited Financial Statements to the extent that such breach is due to the Borrower’s incorrect application of revenue recognition principles for the years ended December 31, 2013, 2014 and 2015 (and each of the quarters in those annual periods) (the Defaults and/or Events of Default referred to in preceding clauses (i), (ii) and (iii), collectively, the “Specified Defaults”). The waiver contained in this Section II is limited as specified herein and (i) shall only be relied upon and used for the specific purpose set forth herein, (ii) shall not constitute nor be deemed to constitute a waiver of (x) any other Default or Event of Default or (y) any other term or condition of the Credit Agreement or the other Loan Documents, (iii) shall not constitute nor be deemed to constitute a consent by either Administrative Agent or the Lenders to anything other than the specific purpose set forth herein and (iv) shall not constitute a custom or course of dealing among the parties hereto.  The Borrower hereby acknowledges and agrees that, notwithstanding anything contained in the Credit Agreement or any of the other Loan Documents to the contrary, the failure by the Borrower to deliver (x) audited Consolidated financial statements for the Fiscal Year ended December 31, 2015 pursuant to Section 6.1(b) of the Credit Agreement, as amended by this First Amendment (the “Amended Credit Agreement”), together with the corresponding Compliance Certificate pursuant to Section 6.1(c) of the Amended Credit Agreement and the related information pursuant to Section 6.1(f) of the Amended Credit Agreement on or before the respective deadlines set forth in the provisos in Section 6.1(b) of the Amended Credit Agreement and (y) unaudited Consolidated financial statements for the Fiscal Quarter ended March 31, 2016 pursuant to Section 6.1(a) of the Amended Credit Agreement, shall constitute (in each case) an immediate Event of Default under the Credit Agreement without the need for any further notice by either Administrative Agent or the expiration of any additional grace periods.

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III.                Miscellaneous Provisions.

1.            Representations and Warranties.  To induce the Administrative Agents and the Lenders to enter into this First Amendment, each Loan Party represents and warrants to the Administrative Agents and the Lenders on and as of the First Amendment Effective Date (as defined below) that:

(a)            The execution, delivery and performance by the Borrower and each Guarantor of this First Amendment and the performance of the Amended Credit Agreement, and the acknowledgment of this First Amendment by the other Loan Parties signatory hereto: (i) are within each such Loan Party’s corporate or similar powers and, at the time of execution thereof, have been duly authorized by all necessary corporate and similar action, (ii) do not (A) contravene such Loan Party’s Constituent Documents, (B) violate any Requirement of Law, (C) conflict with, contravene, constitute a default or breach under, any material Contractual Obligation of any Loan Party or any of their respective Subsidiaries, other than those which could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect, or (D) result in the imposition of any Lien (other than a Permitted Lien) upon any property of any Loan Party or any of their respective Subsidiaries and (iii) do not require any Loan Party to obtain any Permit from, or make any filing with, any Governmental Authority or obtain any consent from, or notice to, any Person, other than (A) as has been obtained and made on or prior to the First Amendment Effective Date and which remains in full force and effect on the First Amendment Effective Date and (B) filings of (or relating to) the Loan Documents with the SEC pursuant to the Borrower’s public disclosure obligations under applicable United States federal securities laws and/or the rules of any securities exchange on which the Borrower’s securities are listed, except where the failure to obtain any such Permit, make any such filing or obtain any such consent could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect.

(b)            This First Amendment has been duly executed and delivered by or on behalf of the Borrower and acknowledged by each other Loan Party.

(c)            Each of this First Amendment and the Amended Credit Agreement is the legal, valid and binding obligation of the Borrower and is enforceable against the Borrower in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or other similar laws affecting creditors’ rights generally or by general equitable principles relating to enforceability.

(d)            No Default (other than the Specified Defaults) or Event of Default has occurred and is continuing on the First Amendment Effective Date or would occur after giving effect to this First Amendment.  Without limiting the generality of the foregoing, the Borrower is in compliance with Section 5.1 of the Credit Agreement in respect of its Fiscal Quarter ended December 31, 2015.

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(e)            No action, claim or proceeding is now pending or, to the knowledge of any Loan Party, threatened against such Loan Party, at law, in equity or otherwise, before any court, board, commission, agency or instrumentality of any foreign, federal, state, or local government or of any agency or subdivision thereof, or before any arbitrator or panel of arbitrators, which (i) challenges any Loan Party’s right or power to enter into or perform any of its obligations under this First Amendment, the Amended Credit Agreement or any other Loan Document to which it is or will be, a party, or the validity or enforceability of this First Amendment, the Amended Credit Agreement or any other Loan Document or any action taken thereunder, or (ii) has a reasonable risk of being determined adversely to such Loan Party and that, if so determined, could reasonably be expected to have a Material Adverse Effect.

(f)            The representations and warranties contained in the Credit Agreement and the other Loan Documents are true and correct in all material respects on and as of the First Amendment Effective Date (it being understood that (x) any representation or warranty that is qualified by materiality or Material Adverse Effect shall be required to be true and correct in all respects and (y) any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct in all material respects (or all respects, as the case may be) as of such specified date).

2.            No Waivers/Consents/Amendments.  Except as expressly provided herein, (a) the Credit Agreement and the other Loan Documents shall be unmodified and shall continue to be in full force and effect in accordance with their terms, and (b) this First Amendment shall not be deemed a waiver or modification of any other term or condition of any Loan Document and shall not be deemed to prejudice any right or rights which any Administrative Agent or any Lender may now have or may have in the future under or in connection with any Loan Document or any of the instruments or agreements referred to therein, as the same may be amended from time to time. This First Amendment shall constitute a “Loan Document” under and as defined in the Credit Agreement.

3.            Affirmation of Obligations.  Each of the Loan Parties hereby acknowledges, agrees and affirms (a) its obligations under the Credit Agreement and the other Loan Documents, including, without limitation, its guaranty obligations under the Guaranty and Security Agreement, (b) that such guaranty shall apply to the Obligations in accordance with the terms thereof, (c) the grant of the security interest in all of its assets pursuant to the Loan Documents and (d) that such liens and security interests created and granted are valid and continuing and secure the Obligations in accordance with the terms thereof, in each case after giving effect to this First Amendment.

4.            Costs and Expenses.  The Borrower hereby reconfirms its obligations pursuant to Section 11.3(a) of the Credit Agreement and any engagement letter relating to this First Amendment to pay and reimburse the Administrative Agents (and their respective Affiliates) for all reasonable costs and expenses (including, without limitation, reasonable fees of counsel) incurred in connection with the negotiation, preparation, execution and delivery of this First Amendment and all other documents and instruments delivered in connection herewith.

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5.            Amendment Effectiveness.  This First Amendment shall become effective on the date on which each of the following conditions shall have been satisfied (the “First Amendment Effective Date”).

(a)            Amendment.  The Administrative Agents shall have received copies of signature pages to this First Amendment, duly executed and delivered (including by way of facsimile or other electronic transmission) by each Administrative Agent, the Borrower, the Required Lenders, and acknowledged by each of the other Loan Parties.

(b)            Payment of Fees, Costs and Expenses.  The Borrower shall have paid, by wire transfer of immediately available funds:

(i)            to the Administrative Agents and their respective Affiliates, all reasonable and documented costs, fees and expenses due and owing in connection with this First Amendment and the other Loan Documents (to the extent required to be paid under Section 11.3(a) of the Credit Agreement and any engagement letter relating to this First Amendment);

(ii)            to the Applicable Administrative Agent, for the account of each Lender that has delivered to the Applicable Administrative Agent (or its counsel) an executed counterpart of this First Amendment on or prior to 4:00 p.m., New York City time, on April 21, 2016, a fee (collectively, the “ First Amendment Fee”) in an amount equal to 0.125% of the sum of (i) the aggregate principal amount of all Term Loans of such Lender outstanding on the First Amendment Effective Date and (ii) the Revolving Credit Commitment of such Lender as in effect on the First Amendment Effective Date; and

(iii)            to White & Case LLP, as counsel to the Administrative Agents, all reasonable and documented fees and expenses of White & Case LLP in connection with the Loan Documents and this First Amendment.

(c)            No Default; Representations and Warranties.  (i) No Default (other than the Specified Defaults) or Event of Default shall have occurred and be continuing or would occur after giving effect to this First Amendment and (ii) the representations and warranties made by or on behalf of the Borrower and each other Loan Party in this First Amendment, the Credit Agreement and the other Loan Documents shall be true and correct in all material respects on and as of the First Amendment Effective Date (it being understood that (x) any representation or warranty that is qualified by materiality or Material Adverse Effect shall be required to be true and correct in all respects and (y) any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct in all material respects (or all respects, as the case may be) as of such specified date).

(d)            Officer’s Certificate. The Borrower shall have delivered to the Administrative Agents a certificate executed by a Responsible Officer of the Borrower certifying that the conditions set forth in preceding clause (c) have been satisfied as of the First Amendment Effective Date.

(e)            Unaudited Financial Statements. The Borrower shall have delivered to the Administrative Agents a preliminary unaudited Consolidated balance sheet of the Borrower as of the end of the Fiscal Year ended December 31, 2015 and related unaudited Consolidated statements of profit and loss and cash flow for such Fiscal Year; it being agreed that the Borrower makes no representation or warranty with respect to any such preliminary financial statements.

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(f)            Corporate Chart; Intercompany Loan Balances. The Borrower shall have delivered to the Administrative Agents the information pursuant to Sections 6.1(d) and 6.1(g) of the Credit Agreement in respect of the Fiscal Quarter ended December 31, 2015.

6.            Governing Law.  This First Amendment, and the rights and obligations of the parties hereto, shall be governed by, and construed and interpreted in accordance with, the law of the State of New York.

7.            Counterparts.  This First Amendment may be executed by the parties hereto on any number of separate counterparts and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

[SIGNATURE PAGES FOLLOW]

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IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and deliver this First Amendment as of the date first above written.

 

	 	ALERE INC. 	 
	 	 	 	 
	
 

	
By: 

	/s/ James F. Hinrichs	 
	 	 	Name:  James F. Hinrichs	 
	 	 	Title:    Executive Vice President and CFO	 
	 	 	 	 

 

	 	
GOLDMAN SACHS BANK USA, as B Term Loan 

     Administrative Agent and Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Gabriel Jacobson	 
	 	 	Name:  Gabriel Jacobson	 
	 	 	Title:    Authorized Signatory	 
	 	 	 	 

 

	 	
HEALTHCARE FINANCIAL SOLUTIONS, LLC, as 

     Pro Rata Administrative Agent, L/C Issuer and 

     Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Ivan Medarov	 
	 	 	Name:  Ivan Medarov	 
	 	 	Title:    Duly Authorized Signatory	 
	 	 	 	 

  

 

 

[Signature Page to Alere First Amendment]

 

 

	 	 	 	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG ALERE INC., THE LENDERS PARTY THERETO, GOLDMAN SACHS BANK USA, AS B TERM LOAN ADMINISTRATIVE AGENT, HEALTHCARE FINANCIAL SOLUTIONS, LLC, AS PRO RATA ADMINISTRATIVE AGENT AND L/C ISSUER AND THE OTHER PARTIES PARTY THERETO 	 
	 	 	 
	 	 	 
	 	
[NAME OF LENDER]1 

	 
	 	 	 	 
	
 

	
By: 

	  	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	[By: 	  	 
	 	 	Name: 	 
	 	 	Title:]2	 
	 	 	 	 

 

1  Signature pages for Required Lenders on file with the Administrative Agents.

2 If second signature line is required.

 

[Signature Page to Alere First Amendment]

 

 

 ACKNOWLEDGED AND AGREED:

ALERE CONNECT, LLC

ALERE HOLDCO, INC.

ALERE HOME MONITORING, INC.

ALERE INFORMATICS, INC.

ALERE INTERNATIONAL HOLDING CORP.

ALERE NORTH AMERICA, LLC

ALERE SAN DIEGO, INC.

ALERE SCARBOROUGH, INC.

ALERE TOXICOLOGY SERVICES, INC.

ALERE TOXICOLOGY, INC.

ALERE US HOLDINGS, LLC

AMEDITECH INC.

ATS LABORATORIES, INC.

AVEE LABORATORIES INC.

BIOSITE INCORPORATED

ESCREEN, INC.

GLOBAL ANALYTICAL DEVELOPMENT LLC

INNOVACON, INC.

INSTANT TECH SUBSIDIARY ACQUISITION INC.

INSTANT TECHNOLOGIES, INC.

IONIAN TECHNOLOGIES, LLC

LABORATORY SPECIALISTS OF AMERICA, INC.

PEMBROOKE OCCUPATIONAL HEALTH, INC.

QUALITY ASSURED SERVICES, INC.

REDWOOD TOXICOLOGY LABORATORY, INC.

RTL HOLDINGS, INC.

SELFCARE TECHNOLOGY, INC.

STANDING STONE, LLC

 

	 		 
	 	 	 	 
	
 

	
By: 

	/s/ Douglas J. Barry	 
	 	 	Name: Douglas J. Barry	 
	 	 	Title: Assistant Secretary	 
	 	 	 	 

 

 [Signature Page to Alere First Amendment]

 

 ACKNOWLEDGED AND AGREED:

FIRST CHECK DIAGNOSTICS, LLC

INVERNESS MEDICAL, LLC

SPDH, INC. 

 

	 		 
	 	 	 	 
	
 

	
By: 

	/s/ Douglas J. Barry	 
	 	 	Name: Douglas J. Barry	 
	 	 	Title: Secretary	 
	 	 	 	 

[Signature Page to Alere First Amendment]Exhibit

EXHIBIT 10.01

VERISIGN, INC. 
 
2006 EQUITY INCENTIVE PLAN 
 
PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT 
 
The Board of Directors of VeriSign, Inc. has approved a grant to you (the “Participant” named below) of Performance-Based Restricted Stock Units (“RSUs”) pursuant to the VeriSign, Inc. 2006 Equity Incentive Plan (the “Plan”), as described below. Capitalized terms not defined herein shall have the meaning ascribed to them in the Plan. 
 
	
			
	 
	 
	 

	Participant:
	 
	 

	 
	 

	Number of RSUs:
	 
	 

	 
	 

	Date of Grant:
	 
	 

	 
	 
	 

	Performance Period:
	 
	 

 
1. Grant of Awards. The Company has granted to Participant [ ] RSUs, subject to the terms of this Agreement and the terms of the Plan. The number of RSUs awarded to Participant represents a target award for the Performance Period (the “Target Award”). The number of RSUs of Participant’s actual earned award (the “Actual Award”) will be calculated as the Target Award multiplied by the Performance Multiplier, as determined by the Compensation Committee (the “Committee”). Each RSU represents the right to receive one (1) Share of Common Stock as set forth herein. 
 
2. Performance Multiplier. The Performance Multiplier shall be determined by reference to achievement of the performance goals for the Performance Period as set forth in Exhibit A – Performance Goals and Payout Scale for Performance Based RSUs. The Performance Multiplier may range from zero to a maximum of 200% of the Target Award. In the event the Committee determines that the Performance Multiplier equals zero, all RSUs will be forfeited automatically on such date and all the rights of Participant to such RSUs shall immediately terminate. 
 
3. Vesting Schedule. Participant’s Actual Award will vest on the date as set forth in Exhibit A (the “Vesting Date”). 
 
4 Settlement. Settlement of vested RSUs shall be made within 30 days following the Vesting Date (provided that if at the time of settlement Participant is a “specified employee” of the Company under Section 409A of the Internal Revenue Code (“Section 409A”), and settlement would be treated as a payment made on separation of service, then if required to avoid the taxes imposed by Section 409A settlement shall be delayed by six (6) months (or if earlier, until death), or such other period of time as is then required to avoid such taxes). Notwithstanding any provision to the contrary in this agreement, to the extent necessary to avoid the imposition of any taxes under Section 409A, no payment or distribution under this agreement that becomes payable by reason of a Participant’s termination of employment with the Company will be made to such Participant unless such Participant’s termination of employment constitutes a “separation from service” (as such term is defined in Section 409A). For purposes of this agreement, each amount to be paid or benefit to be provided shall be construed as a separate identified payment for purposes of Section 409A. Settlement of vested RSUs shall be in Shares; provided, that pursuant to Section 10, if Shares may not be withheld as a result of foreign tax law, then an appropriate number of RSUs may or may not be automatically settled in cash, depending upon the taxable jurisdiction. In addition, if determined by the Committee in its discretion at the time of payment, RSUs may also be settled in cash or some combination of cash and Shares. The Participant shall pay to the Company the aggregate par value of the Shares issued prior to their issuance (par value being $0.001 per Share) with such payment deemed to have been made for each Share, by Participant’s services from the Date of Grant to the Vesting Date. Participant agrees that, if necessary due to applicable law, Participant shall pay to the Company each affected Share’s par value by making appropriate payroll deductions from funds due the Participant. Notwithstanding the issuance of Shares in settlement of the RSUs or the delivery of 

one or more stock certificates for such Shares, the Shares shall be subject to applicable restrictions on transfer or sale, if any, as may be set forth in the Participant’s written employment or service contract with the Company or pursuant to any policy adopted by the Company, now or hereafter existing, that imposes stock ownership requirements, stock retention requirements or stock sale restrictions on the Participant. To enforce any restrictions or requirements on the Participant’s Shares, the Committee may require the Participant to deposit all certificates, together with stock powers or other instruments of transfer approved by the Committee appropriately endorsed in blank, with the Company or an agent designated by the Company to hold in escrow until such restrictions or requirements have lapsed or terminated, and the Committee may cause a legend or legends referencing such restrictions or requirements to be placed on the certificates. 
 
5. No Stockholder Rights. Unless and until such time as Shares are issued in settlement of vested RSUs, the Participant shall have no ownership of the Shares allocated to the RSUs and shall have no right to vote such Shares, subject to the terms, conditions and restrictions described in the Plan and herein. 
 
6. Dividend Equivalents. Any dividends following the Date of Grant but before the Vesting Date paid in cash on Shares of the Company shall be credited to the Participant as additional RSUs as if the RSUs held by the Participant were outstanding Shares, as follows: such credit shall be made in whole and/or fractional RSUs and shall be based on the Fair Market Value of the Shares on the date of payment of such dividend. All such additional RSUs shall also be adjusted by the Performance Multiplier, shall vest on the Vesting Date and shall be settled in accordance with, and at the time of, settlement of the vested RSUs to which they are related. 
 
7. No Transfer. The RSUs and any interest therein: (i) shall not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of, and (ii) shall, if the Participant’s continuous employment with the Company or any of its affiliates shall terminate for any reason (except as otherwise provided in the Plan or Section 8 below), be forfeited to the Company forthwith, and all the rights of the Participant to such RSUs shall immediately terminate. 
 
8. Termination.
(i)    In the event of a Participant’s Termination by the Company or by the Participant, all unvested RSUs shall (except as otherwise provided in the Plan or herein), be forfeited to the Company forthwith, and all the rights of the Participant to such RSUs shall immediately terminate.
(ii)    In the event of a Participant’s Termination due solely to death or Disability while any RSUs granted hereunder remain unvested, the RSUs that are unvested shall accelerate as follows: (a) if such Termination occurs during the Performance Period and before the conclusion of the Performance Period, then the RSUs will fully accelerate based on the target performance achievement; and (b) if such Termination occurs after the conclusion of the Performance Period but before the award for the Performance Period has been paid, then the RSUs will fully accelerate based upon the actual performance achievement.
(iii)    In case of any dispute as to whether Termination has occurred, the Committee shall have sole discretion to determine whether such Termination has occurred and the effective date of such Termination. 
 
9. Acknowledgement. The Company and the Participant agree that the RSUs are granted under and governed by this Performance-Based Restricted Stock Unit Agreement and by the provisions of the Plan (incorporated herein by reference). The Participant: (i) acknowledges receipt of a copy of the Plan and the Plan prospectus, (ii) represents that the Participant has carefully read and is familiar with their provisions, and (iii) hereby accepts the RSUs subject to all of the terms and conditions set forth herein and those set forth in the Plan. In the event that upon the 30th day after the Date of Grant, the Participant has not refused the RSUs by notice to the Company pursuant to Section 15 hereof, the Participant shall be deemed to have accepted the RSUs subject to all of the terms and conditions set forth herein and those set forth in the Plan. 
 

10. Tax Consequences. The Participant acknowledges that there may be adverse tax consequences upon settlement of the RSUs or disposition of the Shares, if any, received in connection therewith and that the Company recommends that Participant should consult a tax adviser prior to such settlement or disposition. In particular, Participant must make arrangements, satisfactory to the Company, for satisfaction of any applicable foreign, federal, state or local income tax withholding requirements or social security requirements related to the grant of the RSUs or Participant’s receipt of Shares in settlement thereof, including, in either case, any dividend paid in respect thereof. In the event settlement of the RSUs is made in Shares, the Company will satisfy the minimum statutory withholding tax obligation by withholding a certain number of Shares otherwise deliverable from the total number of Shares deliverable to the Participant upon settlement unless Shares may not be withheld as a result of foreign tax law (in which case an appropriate number of RSUs may or may not be automatically settled in cash, depending upon the taxable jurisdiction). In the event that any RSUs are settled in cash, or Shares may not be withheld as a result of foreign tax law, the Participant hereby authorizes the Company to withhold the required minimum amount from Participant’s other sources of compensation from the Company or any Parent or Subsidiary. 
 
11. Compliance with Laws and Regulations. The issuance of Shares will be subject to and conditioned upon compliance by the Company and Participant with all applicable state and federal laws and regulations and with all applicable requirements of any stock exchange or automated quotation system on which the Company’s Common Stock may be listed or quoted at the time of such issuance or transfer. 
 
12. VeriSign Incentive Compensation Recovery Policy in the Case of Inaccurate Financial Statements. The Committee has adopted an incentive compensation recovery policy (the “Policy”) which applies to all Section 16 executive officers and such other officers as the Committee may designate. The Policy applies whenever there is an Inaccurate Financial Statement (as such term is defined in the Policy), and, as a result, a covered executive has received more incentive compensation than would have otherwise occurred. To the extent you are subject to the Policy, you agree that the Committee can seek recovery of any such overpayment received under this Agreement per the terms of the Policy. 
 
13. Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement will be binding upon Participant and Participant’s heirs, executors, administrators, legal representatives, successors and assigns. 
 
14. Governing Law; Severability. This Agreement shall be governed by and construed in accordance with the internal laws of the Commonwealth of Virginia as such laws are applied to agreements between Virginia residents entered into and to be performed entirely within Virginia, excluding that body of laws pertaining to conflict of laws. If any provision of this Agreement is determined by a court of law to be illegal or unenforceable, then such provision will be enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable. 
 
15. Notices. Any notice required to be given or delivered to the Company shall be in writing and addressed to the Corporate Secretary of the Company at its principal corporate offices. Any notice required to be given or delivered to Participant shall be in writing (including email) and addressed to Participant at the participant’s Company email address, the address of record or to such other address as Participant may designate in writing from time to time to the Company or may be posted on the Participant’s E*Trade VeriSign employee stock plan account at www.etrade.com. All notices shall be deemed effectively given upon personal delivery, (i) three (3) days after deposit in the United States mail by certified or registered mail (return receipt requested), (ii) one (1) business day after its deposit with any return receipt express courier (prepaid), (iii) one (1) business day after transmission by fax or telecopier, (iv) upon receipt if sent by the Company to the Participant’s email address at the Company, or (v) upon posting on the Participant’s E*Trade VeriSign employee stock plan account at www.etrade.com. 
 
16. Further Instruments. The parties agree to execute such further instruments and to take such further action as may be reasonably necessary to carry out the purposes and intent of this Agreement. 

17. Headings. The captions and headings of this Agreement are included for ease of reference only and are to be disregarded in interpreting or construing this Agreement. 
 
18. Entire Agreement; Modification. The Plan and this Performance-Based Restricted Stock Unit Agreement for these RSUs constitute the entire agreement and understanding of the parties with respect to the subject matter herein and supersede all prior understandings and agreements, whether oral or written, between the parties hereto with respect to the specific subject matter hereof. This Performance-Based Restricted Stock Unit Agreement may be amended only by a written instrument executed by an authorized representative of the Company and effectively given to the Participant pursuant to the methods of delivery set forth in Section 15 above. Any such amendment shall be deemed effective thirty (30) calendar days after the date on which it is effectively given to the Participant as described in Section 15 above, provided the Participant does not provide the Company with a written notice within that thirty (30) day period rejecting the amendment. 
 
Please sign your name in the space provided below on this Performance-Based Restricted Stock Unit Agreement and return an executed copy to: Stock Administration, VeriSign, Inc., 12061 Bluemont Way, Reston, VA 20190. 
 
 
	
				
	 
	VERISIGN, INC.
	 
	PARTICIPANT

	 
	 
	 
	 

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