Document:

Amendment dated as of March 19, 2012 to the Credit Agreement

			
		  	 Exhibit 10.2

 

	

	  	 Growth Technology & Life Sciences Group

400 Hamilton Avenue, Suite 210
 Palo Alto, CA 94301
 650 855-6638 Fax

	  
	  
	  

 March 19, 2012 
 Impax Laboratories, Inc. 
 121 New Britain Boulevard 

Chalfont, PA 18914 
 Fax: (215) 933-0359

 Ladies and Gentlemen: 
 Reference is made to that certain Credit Agreement, dated as of February 11, 2011 (as amended, supplemented, revised, restated, replaced or otherwise modified, the “Credit
Agreement”), among Impax Laboratories, Inc., a Delaware corporation (“Borrower”), the guarantors party thereto, the lenders party thereto from time to time and Wells Fargo Bank, National Association, as administrative agent
for the lenders (the “Administrative Agent”). Capitalized terms used herein but not otherwise defined herein shall have the meanings attributed thereto in the Credit Agreement. 

At your request, we hereby agree that subsection (j) of Section 6.5 of the Credit Agreement is amended by replacing such
subsection in its entirety with the following: 
 (j) loans, advances and/or Investments in connection with that certain Loan and
Security Agreement, dated as of March 22, 2012, between Impax Laboratories, Inc., as lender, and Tolmar, Inc., as borrower; provided, that such loans, advances and/or Investments made pursuant to this clause shall not exceed an aggregate
amount of $15,000,000 at any one time outstanding. 
 The foregoing amendment is subject to the Administrative Agent’s
receipt of (x) this letter agreement duly executed by each Credit Party and (y) a duly executed copy of that certain Loan and Security Agreement between Impax Laboratories, Inc., as lender, and Tolmar, Inc., as borrower. 

This letter agreement is limited solely to the specific matters listed above and shall not be deemed to be a waiver of any Default or
Event of Default or, except as expressly set forth above, a consent to, or an amendment of, any provision of the Credit Agreement. This letter agreement shall be governed by, and construed in accordance with, the internal laws (and not the laws of
conflicts) of the State of New York and all applicable laws of the United States of America. All terms of the Credit Agreement and the other Credit Documents, as modified hereby, remain in full force and effect and constitute the legal, valid and
binding obligations of the Credit Parties enforceable against the Credit Parties in accordance with such terms, except as enforceability may be limited by bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights
generally. This letter agreement shall constitute a Credit Document and shall be subject to the provisions of Sections 9.13 and 9.16 of the Credit Agreement, each of which is incorporated by reference herein, mutatis mutandis. This letter
agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. This letter agreement sets forth the entire understanding of the parties with respect to the matters set forth herein, and
shall supersede any prior negotiations or agreements, whether written or oral, with respect hereto. This letter agreement may be executed in any number of separate counterparts, each of which shall, collectively and separately, constitute one
agreement. Delivery of an executed counterpart of this letter agreement by facsimile transmission or by electronic mail in pdf form shall be as effective as delivery of a manually executed counterpart hereof. 

 Please evidence your acknowledgment and agreement of the foregoing by signing and returning
this letter agreement to the undersigned. 
  

			
	Very truly yours,
	
	 WELLS FARGO BANK, NATIONAL
 ASSOCIATION, as a Lender and as the
Administrative Agent

		
	By:	 	 /s/ Samuel Thompson

	Name:	 	Samuel Thompson
	Title:	 	Vice President

 Acknowledged and Agreed 
 this 19th day of March, 2012: 
 BORROWER: 

IMPAX LABORATORIES, INC. 
  

			
	By:	 	 /s/ Arthur Koch, Jr.

	Name:	 	Arthur Koch, Jr.
	Title:	 	Executive Vice President, Finance and Chief Financial OfficerAmendment No. 4 to the 2005 Executive Incentive Plan

 Exhibit 10.2 
 AMENDMENT #4 
 TO THE 

CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. 
 2005 EXECUTIVE INCENTIVE PLAN 
 Effective January 1, 2011 

 Pursuant to the resolutions adopted by the Board of Directors of Consolidated Edison, Inc.,
at a meeting duly held on July 15, 2010, the undersigned hereby approves effective January 1, 2011, the amendment set forth below to the Consolidated Edison Company of New York, Inc. 2005 Executive Incentive Plan, as set forth below:

  

	 	1.	The PURPOSE is amended by adding the following at the end thereof: 

  

	 	 	“Effective January 1, 2011, the Plan is amended to include language specifically stating that any Award granted to an Officer based on a performance period
beginning on or after January 1, 2011 is subject to the Company’s Recoupment Policy, as amended from time to time.” 

  

	 	2.	ARTICLE V. PAYMENT OF AWARDS is amended as follows: 

  

	 	 	A new Section 5.04 is added as follows: 

 5.04  Recoupment of Awards
 The Participant’s Incentive
Award, is subject to the Company’s Recoupment Policy, as amended from time to time. 
 (a)     Under
this Recoupment Policy, appropriate actions, as determined by the Committee, will be undertaken by the Company to recoup the Excess Award Amount, as defined below, received by any Participant when: 

(1)     The Audit Committee of CEI determines that CEI is required to prepare an accounting restatement due to its
material noncompliance with any financial reporting requirement under the securities laws ( a “Restatement”); 

(2)     The Participant received an Award during the three-year period preceding the date on which CEI is required to
prepare a Restatement; and 

  
 1 

 (3)     The amount of the Award received by the Participant, based on
the erroneous data, was in excess of what would have been paid to the Participant under the Restatement (the “Excess Award Amount”). 
 IN WITNESS WHEREOF, the undersigned has executed this instrument this
29th day of February, 2012. 

 

					
	 	  	/s/ Mary Adamo	 	 
		  	Plan Administrator,	 	
		  	Consolidated Edison Company of New York, Inc.	 	
		  	2005 Executive Incentive Plan	 	
		  	and	 	
		  	Vice President – Human Resources	 	
		  	Consolidated Edison Company of New York, Inc.	 	

  
 22012 Annual Incentive Program

 Exhibit 10.1 
 Alnylam Pharmaceuticals, Inc. 
 2012 Annual Incentive Program

 Summary Description 
 In
March 2012, the Compensation Committee of the Board of Directors (the “Board”) of Alnylam Pharmaceuticals, Inc. (“Alnylam” or the “Company”) approved the 2012 Annual Incentive Program (the “Bonus Plan”) to
incent and reward all regular employees based upon their performance relative to pre-established 2012 corporate and individual goals and objectives, and retain company employees by establishing an important element of Alnylam’s total rewards
package consistent with Alnylam’s compensation philosophy and operating strategy. 
 Eligibility 

All regular employees, who are employed by the Company both before July 1, 2012 and on December 31, 2012 (collectively, “Plan Participants”),
are eligible to receive an annual cash bonus (a “Bonus Award”) based upon achievement of individual and corporate goals and objectives for 2012. The Compensation Committee may, in its discretion, include employees who join the Company
after July 1, 2012 as Plan Participants. Bonus Awards for Plan Participants who have been employed with the Company for less than one year as of December 31, 2012 may be pro-rated by the Compensation Committee, in its discretion. 

Goals 
 The corporate goals for 2012 were
proposed by the Company’s executive officers and approved by the Board. Bonus Awards for the Company’s executive officers will be based entirely upon achievement of the corporate goals. Individual objectives for Plan Participants who are
non-executive officers or director-level employees were approved by the Company’s Chief Executive Officer, and individual objectives for all other Plan Participants were approved by the employees’ direct supervisors and the Vice President
of Human Resources. 
 Awards 

Under the Bonus Plan, each Plan Participant has an established target award, as set forth in the table below, representing a percentage of the Plan
Participant’s annual base salary for 2012 (a “Target Award”). Each Bonus Award will range from 0% to 100% of a Plan Participant’s Target Award (capped at 100%), thus making each Plan Participant’s Target Award the maximum
Bonus Award achievable in 2012. 
  

			
	 2012 Annual Incentive Program Target Awards

	 Title/Level
	  	Target Award
(% of Base 
Salary)
	 Chief Executive Officer
	  	60%
	 President and Chief Operating Officer
	  	50%
	 Senior Vice President
	  	40%
	 Vice President
	  	30%
	 Senior Director/Director
	  	20%
	 Associate Director
	  	15%
	 All Other Regular Employees
	  	7.5%

 Bonus Awards under the Bonus Plan, if any, will be determined by first establishing a bonus pool (the
“Bonus Pool”). The Bonus Pool will be calculated by (1) aggregating each Plan Participant’s Target Award and then (2) multiplying that sum by a modifier established by the Compensation Committee that is based on the Company’s
performance as measured against the 2012 corporate goals (the “Corporate Performance Level”). The Corporate Performance Level will range from 0% to 100%; provided, however, that if the Corporate Performance Level for 2012 falls below a
threshold of 50%, no Bonus Awards will be paid under the Bonus Plan. 
 The Bonus Pool will then be allocated among the Plan Participants based
on each Plan Participant’s title/level and salary (as reflected by their Target Award percentage) and (i) with respect to Plan Participants who are executive officers, the Corporate Performance Level, as well as each executive officer’s
contributions to achievement of the 2012 corporate goals, (ii) with respect to Plan Participants who are non-executive officers or director-level employees, performance against their individual objectives for 2012 and contributions to achievement of
the 2012 corporate goals, and (ii) with respect to all other Plan Participants, performance against their individual objectives for 2012. The Compensation Committee retains the discretion under the Bonus Plan to adjust upward or downward any Bonus
Award and/or the Bonus Pool as it deems appropriate. 
 In December 2012, the Compensation Committee will evaluate the Company’s
performance against the established corporate goals, as well as the individual performance and contributions of the Plan Participants, establish the Bonus Pool and determine the amount of the Bonus Awards, if any, to be granted under the Bonus Plan.
Any Bonus Awards granted to Plan Participants under the Bonus Plan will be made in cash and are expected to be paid in January 2013. 

Administration; Amendment 
 The Bonus
Plan is administered by the Compensation Committee. The Compensation Committee has full power and authority to interpret and make all decisions regarding the Bonus Plan, and its decisions and interpretations are final and binding on all Plan
Participants. The Compensation Committee or the full Board may amend the Bonus Plan in any manner at any time without the consent of any Plan Participant.

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