Document:

Amendment No. 2 to Employment between Knoll, Inc. and Kathleen G. Bradley

 Exhibit 10.11 
 AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT 
 This Amendment No. 2 to the Employment Agreement
(“Amendment”) is entered into as of this 14th day of March, 2006, between Knoll, Inc., a Delaware corporation (the “Company”), and Kathleen G. Bradley (“Executive”). 
 WHEREAS, the parties wish to amend the March 23, 2001 Employment Agreement between Executive and the Company, as amended (“Agreement”) in
accordance with the direction of the Compensation Committee of the Company’s Board of Directors, as hereinafter set forth; 
 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to become legally bound, the parties agree as follows: 
 1. All defined terms contained in this Amendment shall have the meanings ascribed to them in the Agreement. 
 2. Except as specifically set forth herein, the terms of the Agreement shall remain unchanged. 
 3. Section 5.04 (a) and 5.04 (b) of the Agreement are amended and restated as follows as of the date hereof: 
 5.04. Compensation upon Termination. (a) In the event of termination of Executive’s employment by the Company (other than
for Cause or Disability), or in the event of termination of Executive’s employment by the Company as a result of the Company’s failure to renew this Agreement, or in the event of a termination of Executive’s employment by Executive
following a breach of a material provision of this Agreement by the Company, provided that the Executive has given advance written notice to the Company, identifying the basis for the breach in reasonable detail and, except in the event of a failure
to pay Base Salary, giving the Company 30 days’ opportunity to cure, the Company shall pay Executive an amount equal to the sum of (i) the Executive’s then current Base Salary, payable in twelve equal monthly installments following
the date of such termination, plus (ii) the average of the annual bonuses paid to Executive pursuant to Section 3.01(c) hereof for the two completed fiscal years of the Company that immediately preceded the fiscal year of the
Executive’s termination of employment (“Termination Pay”), payable in twelve equal monthly installments following the date of such termination; provided, however, that in order to comply with Internal Revenue Code Section 409A,
the payout of the Termination Pay shall be as follows: 

	 	(x)	The first six monthly installments shall be paid to Executive on the six-month anniversary of the date of Executive’s termination of employment; and 

 

	 	(y)	The second six monthly installments shall be paid to Executive one installment each on the seventh, eighth, ninth, tenth, eleventh and twelve month anniversaries of the date of
Executive’s termination of employment. 

 (b) The Executive’s rights upon termination of employment
with respect to stock options, restricted stock or other incentive awards shall be governed by the terms and conditions of any stock option agreements, restricted stock agreements or as established by the Company with respect to such awards.

 IN WITNESS WHEREOF, each of the parties has duly executed this Agreement effective as of the date first above written. 
  

			
	KNOLL, INC.
		
	By:	 	/s/ Barry L. McCabe
		 	 Name: Barry L. McCabe
 Title: Chief Financial
Officer

  

			
		
		 	/s/ Kathleen G. Bradley
		 	Kathleen G. Bradley

  

 2Summary of Barry L. McCabe 2006 Compensation

 Exhibit 10.12 
 Summary of Barry L. McCabe 2006 Compensation 
 The Knoll, Inc. compensation committee approved an
annual base salary of $225,000 for Barry L. McCabe, with a bonus target of $150,000. Mr. McCabe is also entitled to participate in the benefit plans provided by Knoll that are available to Knoll employees generally, including, without limitation,
healthcare benefits, the Knoll Retirement Savings Plan, the Knoll Pension Plan and the Knoll Employee Stock Purchase Plan.Summary of Informal Healthcare Severance Policy

 Exhibit 10.32 
 Summary of Informal Healthcare Severance Policy 
 Knoll has an informal policy of providing continued
healthcare benefits to terminated salaried employees (including, without limitation, our named executive officers) during any period that such employee is entitled to benefits under the formal Knoll, Inc. Severance Pay Plan.Barry L. McCabe Incentive Compensation Letter, dated January 12, 2006

 Exhibit 10.33 
 January 12, 2006 
 Barry McCabe 
 East Greenville, PA 
 Dear Barry: 
 It is our
great pleasure to inform you that you will be a participant in the 2006 Knoll, Inc. Incentive Compensation Program. 
 We need to do three
things to succeed in 2006. Improve our gross margins, continue to build on the sales and marketing initiatives that allowed us to gain share in 2005 and diligently manage our spending. 
 Our success in 2006 will be a direct result of your ability to accomplish these objectives and achieve $110.6M Knoll, Inc. operating profit.
Additionally, your award will be based on meeting the Finance budget of $7.6M. 
 If you achieve this goal and Knoll earns an operating
profit of $110.6M, you can qualify for a total target incentive payment of $150,000. 
 This award is subject to our approval and that of the
Knoll, Inc. Board of Directors. You must be employed by Knoll on the date this award is distributed in order to receive this incentive. 
 We
have great confidence in your ability to help Knoll profitably grow and look forward to being able to present you with your award in early 2007. 
  
  
  
  

			
	 

 Kass Bradley
	  	 

 Andrew CoganForm of Amendment to Restricted Share Agreement under 1999 Stock Incentive Plan

 Exhibit 10.34 
  
 Amendment to Restricted Share Agreement 
 Under
the Knoll, Inc. 
 1999 Stock Incentive Plan 
  
 This Amendment (“Amendment”) is made effective as of the              day of March, 2006 by
and between                                  (“Grantee”) and Knoll, Inc.
(“Company”) amending that certain Restricted Share Agreement dated as of
                                 between Company and Grantee (the
“Agreement”). 
 WHEREAS, the parties desire to amend and clarify the Agreement in accordance with the
original intent of the parties. 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable
consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as follows: 
  

	 	1.	Section 3(a)(vi) is amended and restated to provide as follows: 

 “Operating Profits” for any fiscal year means the Company’s net operating income for such fiscal year. The determination of “Operating Profits” shall be made from the Company’s
books and records. Such books and records shall be maintained in accordance with U.S. generally accepted accounting principles and the Company’s internal accounting policies and procedures in effect on the Grant Date, but consistently applied
over each of the fiscal years during the Restriction Period. For example, if grants of stock options are required or are elected to be shown as an expense on the Company’s financial statements during the Restriction Period, such expense shall
be excluded from the determination of Operating Profits because it represents a change in accounting treatment from that in effect on the Grant Date. Extraordinary and other one-time items of income and expense, such as gains on sales of fixed
assets, transactions outside of the ordinary course of business, and restructuring costs, in each case, arising in connection with a Material Acquisition or Divestiture shall be excluded from the determination of Operating Profits for the fiscal
year in which the extraordinary or one-time item of income or expense occurs. Extraordinary and one-time items of income and expense, such as gains on sales of fixed assets, transactions outside of the ordinary course of business, and restructuring
costs, in each case, arising in connection with an acquisition or divestiture or other business combination that is not a Material Acquisition or Divestiture (a “Non-Material” Acquisition or Divestiture) shall not be excluded from the
determination of Operating Profits for the fiscal year in which the extraordinary or one-time item of income or expense occurs. In addition, in the event that a Material Acquisition or Divestiture occurs, other than the divestiture of a business
that generated an operating loss in the twelve (12) months preceding such divestiture, the Operating Profits for the fiscal year of the transaction (on a pro rata basis) and all subsequent fiscal (on a full basis) years shall be adjusted to
eliminate the impact of the addition of Operating Profits, or losses, or the divestiture of Operating Profits resulting from the transaction. The amount of the adjustment shall be based on the operating profits, or losses, generated by the business
acquired or the operating profits generated by the business divested in the twelve (12) months immediately preceding such acquisition or divestiture. For example, the acquisition of an entity that generated $5 million in operating profits in
the 12 months preceding the acquisition shall cause a downward adjustment in Operating Profits by $5 million for the year of acquisition (on a pro rata basis) and for all future years (on a full basis). Except as set forth above, extraordinary and
other one-time items of income and expense, such as gains on sales of fixed assets, transactions outside the ordinary course of 

 
business (such as bank refinancings, IPOs, secondary stock offerings, etc. and restructuring costs), in each case, shall be excluded from the determination
of Operating Profits for the fiscal year in which the extraordinary or one-time item of income or expense occurs. The calculation for Operating Profits shall be determined without taking into account any accrual or other provision for amounts earned
or payable under this Agreement and all other Restricted Share Agreements entered into by the Company in 2004 and thereafter. The Company’s Finance Department shall make an initial determination of Operating Profits for each fiscal year
(commencing with fiscal years 2003 and 2004) during the Restriction Period. The Company’s auditors shall review the Finance Department’s determination. The Committee shall take into account the Finance Department’s determination and
the Company’s auditors’ report and make the final determination of Operating Profits and Sustained Operating Profits as soon as practicable after the end of each fiscal year. 
  

	 	2.	Except as set forth herein, capitalized terms in this Amendment shall have the meanings ascribed to them in the Agreement. 

  

	 	3.	Other than as set forth herein, the Agreement shall remain unchanged. 

  
 EXECUTED effective as of the day and year first written above. INTENDING TO BECOME LEGALLY BOUND. 
  
  

					
	KNOLL, INC.
		
	By: 	 	  
			
		 	Name: 	 	  
			
		 	Title:	 	  
	
	GRANTEE
		
		 	  
		 	(signature)
			
		 	Name:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00100-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00100-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00100-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00100-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00100-of-00352.parquet"}]]