Document:

COMPENSATION PLAN FOR EDUARDO S. SANCHEZ

 Exhibit 10.1 
 Confidential Materials omitted and filed separately with the 
 Securities and Exchange Commission. Asterisks
denote omissions. 
 

 
 Vice President 
 Compensation Plan 
 2006 
 Name: Eduardo Sanchez 
 Effective Date: 1 January 2006 
 Annual Bonus Potential: $250,000 
 Contribution Bonus Rate at Plan: [**]% 
 Contribution Bonus Rate above Plan: [**]%

 Maintenance Bonus Rate: [**]% 
 As a MicroStrategy Vice President (“Plan Participant”), you are eligible to earn a bonus based on the financial performance of your Franchise while you are an active employee of MicroStrategy. A bonus may be paid in addition to
your base salary. 
 I. Contribution Targets for 2006 
  

																
	 In USD
	  	Q1-06	  	Q2-06	  	Q3-06	  	Q4-06	  	Total
						
	 Contribution Budget Target
	  	$	[**]	  	$	[**]	  	$	[**]	  	$	[**]	  	$	[**]
						
	 Contribution Plan Target
	  	$	[**]	  	$	[**]	  	$	[**]	  	$	[**]	  	$	[**]

 II. Contribution Calculation 
 Contribution will be calculated based on the [**] for the quarter less the [**] for the quarter using the formula: Contribution = ([**] – [**]). Any Contribution amount less than the Contribution Budget Target in
a quarter will be distributed equally and added to both the Contribution Budget Target and Contribution Plan Target over the remaining quarters. Although the quarterly targets will increase as a result of any shortfall, the Plan Participant will
have the ability to earn their full bonus if they achieve their original Contribution Plan Target for the full year. 
 III. Contribution Bonus

 Your Contribution Bonus shall be calculated by multiplying the quarterly Contribution in excess of the quarterly Contribution Budget Target by the
Contribution Bonus Rate at Plan. 
 Your Contribution Bonus Rate at Plan equals Annual Bonus Potential / (Contribution Plan Target – Contribution Budget
Target. 
 Your Contribution Bonus Rate above Plan is applied to any contribution amount above the Contribution Plan Target.

 IV. Quote System Compliance As Precondition For Payment Of Any Bonus 
 No Plan Participant is eligible for the payment of any bonus for any transaction unless: (a) a formal quote was submitted using the MicroStrategy Quote System that clearly describes each term and condition of the
proposed transaction and is in full compliance with MicroStrategy Quote System Policy; (b) the submitted quote was approved in advance of any discussion with the customer about the terms and conditions of that transaction; (c) all pricing
communications with customer include the official quote approved in the quote system; and (d) the final transaction is identical in all respects to the approved quote. 
 V. Maintenance Bonus 
  

	 	•	 	You will have the opportunity to earn an additional bonus at the end of the calendar year for any increase on the Maintenance Contract value in the customer base of your territory.

  

	 	•	 	Finance, in its sole discretion, will calculate the [**] value of Maintenance contracts at the end of 2005 and compare this to the [**] value of Maintenance Contracts at the end of
2006. 

  

	 	•	 	Your Maintenance Bonus will by computed by multiplying the Maintenance Bonus Rate times the increase, if any, of the [**] Maintenance Contract value between the end of 2005 and the
end of 2006 in your territory. 

 VI. General Terms 
  

	1.	MicroStrategy reserves the right to modify, suspend, or terminate this Plan or any bonus payment in whole or in part, at any time, with or without prior notice or reason. If a Plan
Participant is no longer employed by MicroStrategy (regardless of the reason or cause of the employment termination), no bonus shall be earned by or paid to the Plan Participant. 

  

			
	MicroStrategy Confidential and Proprietary	  	Page 1 of 2

 

 
  

	2.	Revenue means revenue and earnings consistent with United States Generally Accepted Accounting Principles (“GAAP”) generated by transactions in a given time period. GAAP
Revenue will include: License Revenue, Maintenance Revenue, Consulting Revenue and Education Revenue for your Franchise. GAAP Revenue shall be adjusted by subtracting: 

 (a) Revenue recognized in the current quarter generated by Sales that have not been completed according to the following Company policies: MicroStrategy
Code of Conduct; Revenue Recognition Policy; Quote System Policy; and Contracts Approval, Execution, and Processing Policy. 
  

	3.	Cost means the total direct accounting cost (as reported in a MicroStrategy Profit and Loss Report) attributable to the Regional Franchise. 

 (a) GAAP Costs will include compensation expenses accrued for your Franchise at the actual pay out rates, as well as bad debt charges, unrecovered
expenses, and any relevant Franchise overhead cost allocations. 
 (b) GAAP Costs will not include costs associated with corporate
field overheads and commission costs associated with certain OEM transactions. 
  

	4.	The timing of bonus payments is subject to the finalization and verification of GAAP Revenue, GAAP Costs, and Contribution achievement as determined by MicroStrategy.

  

	5.	Bonus payments are contingent upon: 

  

	 	(1)	The Plan Participant fully complies with all MicroStrategy policies, including but not limited to the MicroStrategy Code of Conduct, Revenue Recognition Policy, Quote System Policy,
Field Operations Policy and the Contracts, Approval, Execution, and Processing Policy. 

  

	 	(2)	Completion of all activities in the Field Sales Portal. 

  

	 	(3)	The Plan Participant accurately and timely completes and submits all required Representation Letters and Sales Portal Disclosure Questions. 

  

	6.	MicroStrategy reserves the right to delay, withhold or suspend any bonuses pending MicroStrategy’s determination of whether each of the above requirements (and all other bonus
eligibility requirements set forth herein) has been met. MicroStrategy may recover any bonuses paid to any Plan Participant if MicroStrategy subsequently determines that a Plan Participant did not meet one or more of the eligibility requirements
described in this Plan, or otherwise should not have received the bonus payment. 

  

	7.	MicroStrategy shall have sole responsibility for the administration, interpretation, and implementation of this Plan. Plan Participants must raise with the Vice President Corporate
Development any issues they have concerning their commission statement within 60 days from receipt of the statement. All decisions and determinations by MicroStrategy relating to the Plan and any commissions shall, however, be final.

  

	8.	A Vice President may propose a commission split among more than one Account Manager or Account Executive within his/her region that is subject to approval from MicroStrategy. The
company shall approve all inter-region commission splits. 

  

	9.	This Plan is not a contract and does not guarantee or create any expectation of employment. Employment with MicroStrategy is “at will” and, therefore, either you or
MicroStrategy may terminate the employment relationship at any time with or without notice or reason. Participation in this Plan does not grant you the right to continued employment or any right to continuation in your job assignment.

 I acknowledge and accept this document as my compensation package for 2006. 
 Approved by MicroStrategy Incorporated on March 31, 2006. 
 Acknowledged by Eduardo Sanchez on April 4, 2006. 
  

			
	MicroStrategy Confidential and Proprietary	  	Page 2 of 2Fourth Amendment to Amended and Restated Credit Agreement

 Exhibit 10.1 
 FOURTH AMENDMENT TO 
 AMENDED AND RESTATED CREDIT AGREEMENT 
 THIS FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is made and dated as of the 14th day of April, 2006 by
and among AMVAC CHEMICAL CORPORATION, a California corporation (the “Borrower”), AMERICAN VANGUARD CORPORATION, a Delaware corporation (“American Vanguard”), GEMCHEM, INC., a California corporation
(“GemChem”), and 2110 DAVIE CORPORATION, a California corporation (“2110 Davie”) (American Vanguard, GemChem, and 2110 Davie is each a “Guarantor” and collectively, the
“Guarantors”), BANK OF THE WEST (“Bank of the West”), as agent (in such capacity, the “Administrative Agent”) and Issuing Bank, Bank of the West and the other Lenders party to, and as such term and
other capitalized terms used but not otherwise defined herein are defined in, the Amended and Restated Credit Agreement dated September 30, 2004 with the Borrower and Guarantors (as amended, modified or waived, the “Credit
Agreement”). 
 For good and valuable consideration, the receipt and adequacy of which is acknowledged, the parties hereto agree as
follows: 
 1. Amendment. Schedule 2 of the Credit Agreement is amended to read as set forth on Schedule 2 to this
Amendment. 
 2. Conditions to Effectiveness of this Amendment. As conditions to the effectiveness of this Amendment: 
 2(a) The Borrower and each Guarantor shall have delivered or shall have had delivered to the Administrative Agent, in form and substance reasonably
satisfactory to the Administrative Agent and its counsel, each of the following (with sufficient copies for each of the Lenders): 
 (1) A duly executed copy of this Amendment; 
 (2) Such credit applications, financial statements, authorizations and
such information concerning the Borrower and its business, operations and condition (financial and otherwise) as the Administrative Agent may reasonably request. 
 2(b) All acts and conditions (including, without limitation, the obtaining of any necessary regulatory approvals and the making of any required filings, recordings or registrations) required to be done and performed
and to have happened precedent to the execution, delivery and performance of this Amendment and Credit Agreement as amended hereby and to constitute the same legal, valid and binding obligations, enforceable in accordance with their respective
terms, shall have been done and performed and shall have happened in due and strict compliance with all applicable laws. 
 2(c) All
documentation, including, without limitation, documentation for corporate and legal proceedings in connection with the transactions contemplated by this Amendment and Credit Agreement as amended hereby, shall be reasonably satisfactory in form and
substance to the Administrative Agent and its counsel. 
 2(d) The representations and warranties of the Borrower and the Guarantors
contained in this Amendment, the Credit Agreement as amended hereby, and the Loan Documents shall be accurate and complete in all material respects as if made on and as of the date of such advance, conversion or continuance; 
 2(e) There shall not have occurred an Event of Default or Potential Default; and 
 2(f) No event shall have occurred that could reasonably be expected to have a Material Adverse Effect. 
  

 1 

 3. Representations and Warranties of the Borrower and the Guarantors. As an inducement to the
Administrative Agent and each Lender to enter into this Amendment, the Borrower and each Guarantor represents and warrants to the Administrative Agent and each Lender that: 
 3(a) No Change. Since the Statement Date, no event, to the Borrower’s or any Guarantor’s knowledge, has occurred that could have a
Material Adverse Effect. Since the Statement Date, neither American Vanguard nor the Borrower has entered into, incurred or assumed any material long-term debt, mortgages, leases or oral or written commitments, nor commenced any significant project,
nor made any purchase or acquisition of any significant property not previously disclosed to the Administrative Agent. 
 3(b) Corporate
Existence; Compliance with Law. The Borrower and each Guarantor: (1) is duly organized, validly existing and in good standing as a corporation under the laws of the state of its organization and is qualified to do business in each
jurisdiction where its ownership of property or conduct of business requires such qualification and where failure to qualify would have a Material Adverse Effect, (2) has the corporate power and authority and the legal right to own and operate
its property and to conduct business in the manner in which it does and proposes so to do, and (3) is in compliance, in all material respects, with all Requirements of Law and Contractual Obligations. 
 3(c) Corporate Power; Authorization; Enforceable Obligations. The Borrower and each Guarantor has the corporate power and authority and the legal
right to execute, deliver and perform this Amendment and the Credit Agreement as amended hereby and has taken all necessary corporate action to authorize the execution, delivery and performance of this Amendment and the Credit Agreement as amended
hereby. This Amendment has been duly executed and delivered on behalf of the Borrower and each Guarantor and constitutes legal, valid and binding obligations of such Persons enforceable against them in accordance with their respective terms, subject
to the effect of applicable bankruptcy and other similar laws affecting the rights of creditors generally and the effect of equitable principles whether applied in an action at law or a suit in equity. 
 3(d) No Legal Bar. The execution, delivery and performance of this Amendment and the Credit Agreement as amended hereby, will not violate, in any
material respect, any Requirement of Law or any Contractual Obligation of the Borrower or any Guarantor or create or result in the creation of any Lien on any assets of the Borrower or any Guarantor other than in favor of the Administrative Agent
for the benefit of the Lenders pursuant to the Security Documents. 
 4. Miscellaneous Provisions 
 4(a) Entire Agreement. This Amendment and the documents and agreements referred to herein embody the entire agreement and understanding between the
parties hereto and supersede all prior agreements and understandings relating to the subject matter hereof and thereof. 
 4(b)
Survival. All representations, warranties, covenants and agreements herein contained on the part of the Borrower shall survive the termination of the Credit Agreement and shall be effective until the Obligations are paid and performed in full
or longer as expressly provided therein. 
 4(c) Governing Law. This Amendment shall be governed by and construed in accordance with
the internal laws of the State of California without giving effect to its choice of law rules. 
 4(d) Counterparts. This Amendment
may be executed in any number of counterparts, all of which together shall constitute one agreement. 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the day and year
first above written. 
  

			
	AMVAC CHEMICAL CORPORATION, a California corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	AMERICAN VANGUARD CORPORATION, a Delaware corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	GEMCHEM, INC., a California corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	2110 DAVIE CORPORATION, a California corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 S-1 

			
	BANK OF THE WEST, as Administrative Agent
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 S-2 

			
	BANK OF THE WEST, as a Lender
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 S-3 

			
	HARRIS N.A., successor by merger to HARRIS TRUST AND SAVINGS BANK, as a Lender
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 S-4 

			
	FIRST BANK & TRUST, as a Lender
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 S-5 

 SECRETARY’S CERTIFICATION 
 The undersigned, being the (Assistant) Secretary of the Borrower and each Guarantor that has executed the foregoing Amendment, hereby certifies to, and
for the benefit of, the Administrative Agent and the Lenders party to the Credit Agreement (as all such terms and other terms used, but not otherwise defined in this Secretary’s Certification, are defined in the foregoing Amendment) that
(1) the resolutions of the Borrower and each Guarantor previously delivered to the Administrative Agent in connection with the Credit Agreement authorized the execution and delivery of both the original Loan Documents to which the Borrower and
each Guarantor was a party and amendments and modifications thereto, including the foregoing Amendment; (2) since the date on which the Articles of Incorporation and Bylaws of the Borrower and each Guarantor were delivered to the Administrative
Agent pursuant to the Credit Agreement, there has been no amendment or modification thereto except such as shall be attached hereto; (3) all of such resolutions, Articles of Incorporation and Bylaws remain in full force and effect and have not
been rescinded in any respect; and (4) the Person(s) who executed the foregoing Amendment on behalf of the Borrower and each Guarantor holds the office(s) set beneath his or her signature above and is duly authorized to executed the same on
behalf of the Borrower and each Guarantor. 
  

	
	  
 (Assistant) Secretary

  

 1 

 SCHEDULE 2 
 COMMITMENT SCHEDULE 
  

																
	 Lender
	  	Aggregate Commitments	  	Term Loans
(as of
April 10,
2006)	  	Percentage
Share	 	 	Total
Commitment
	  	Revolving
Commitment	  	Delayed Draw
Commitment
(as of April
10, 2006)	  	  	 
	 Bank of the West
	  	$	34,125,000	  	$	0	  	$	7,350,000	  	52.500	%	 	$	41,475,000
	 First Bank
	  	$	15,437,500	  	$	0	  	$	3,325,000	  	23.750	%	 	$	18,762,500
	 Harris Nesbitt
	  	$	15,437,500	  	$	0	  	$	3,325,000	  	23.750	%	 	$	18,762,500
	 Total
	  	$	65,000,000	  	$	0	  	$	14,000,000	  	100.000	%	 	$	79,000,000

  

 1

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