Document:

Exhibit

Exhibit 10.11(c)

AWARD AGREEMENT OF PERFORMANCE-BASED
RESTRICTED STOCK UNITS 
UNDER THE ATMOS ENERGY CORPORATION 
1998 LONG-TERM INCENTIVE PLAN 

This Award Agreement of Performance-Based Restricted Stock Units (“Award Agreement”) is dated as of May 4, 2016, by and between Atmos Energy Corporation, a Texas and Virginia corporation (the "Company"), and you ("Grantee"), pursuant to the Company's 1998 Long-Term Incentive Plan (the "Plan").  Capitalized terms that are used, but not defined, in this Award Agreement shall have the meaning set forth in the Plan.

1.    Grant and Description of Units.

Pursuant to authorization by the Human Resources Committee of the Board (the “Committee”), which has been designated by the Board to administer the Plan, the Company hereby grants to the Grantee performance-based restricted stock units (“Units”) under the Plan, for no consideration from the Grantee, with the restrictions set forth below.  Each such Unit shall be a notional share of common stock of the Company (“Common Stock”), with the value of each Unit being equal to the Fair Market Value of a share of Common Stock at any time.  No physical certificates representing the number of Units awarded shall be issued to the Grantee, but an account shall be established and maintained for the Grantee, in which each grant of Units to the Grantee shall be recorded, with the final number of Units as determined in accordance with Section 3 or Section 5 below.  Until the final number of Units is determined, the Grantee shall not have any of the rights of a shareholder of the Company with respect to the Units, except for the crediting of dividend equivalents as provided for in Section 6 below.

2.          Restrictions on Alienation of Units.  

Units awarded hereunder may not be sold, transferred, pledged, assigned, or otherwise alienated in any manner, whether voluntarily, by operation of law, or otherwise, until the restrictions on the Units are removed and the Units are delivered to the Grantee in the form of shares of Common Stock in the manner described below in Section 8.

3.    Number of Units Awarded.

Except as provided in Section 5(a) below, the number of Units ultimately to be awarded to the Grantee upon vesting is contingent upon the cumulative amount of earnings per share achieved by the Company for the three year measurement cycle, Fiscal Years 2016 through 2018 (October 1, 2015 through September 30, 2018).  The percentage of Units earned for each level of the cumulative amount of earnings per share is illustrated in the performance schedule below.  In addition, should the performance levels achieved be between the stated criteria below, straight-

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line interpolation shall be used.  For example, should the cumulative amount of earnings per share for the three-year period be $____, the percentage of Units earned would be _______% of the number of Units originally granted.  In addition, the performance targets and actual performance attainment for such Units will exclude any mark-to-market gains or losses recognized by the Company’s nonregulated operations.

	
			
	

Performance-Based Restricted Stock Units
Performance Schedule for Grant of Performance Period FY 2016-2018

	Performance Level
	Cumulative 3-Yr. EPS
	Restricted Stock Units Earned

	Below Threshold
	Less than $_____ 
	    0%

	Threshold
	$_____ 
	  50%

	Target
	$_____ 
	100%

	Maximum
	$_____ 
	200%

		
	4.      
	Forfeiture of Units.  

All Units granted shall be forfeited if, prior to the removal of restrictions on the Units awarded hereunder as provided below in Section 8, the Grantee has a voluntary or involuntary Termination of Service for any reason other than as described below in Section 5.  Each Grantee, by his or her acceptance of the Units, agrees to execute any documents requested by the Company in connection with such forfeiture.  Such provisions with respect to forfeited Units shall be specifically performable by the Company in a court of equity or law.  Upon any forfeiture, all rights of the Grantee with respect to the forfeited Units shall cease and terminate, without any further obligation on the part of the Company. 

		
	5.
	Removal of Restrictions.

(a)  Death, Disability, Certain Involuntary Terminations and Terminations following a Change in Control. 

 At the time and on the date of the Grantee's death, Termination of Service due to Total and Permanent Disability, involuntary Termination of Service due to a general reduction in force or specific elimination of the Grantee's job, or Termination of Service for any reason following a Change in Control, while employed by the Company or a Subsidiary, all restrictions placed on each Unit awarded shall be removed, and the measurement cycle for purposes of Section 6 and Section 8 below shall be deemed to have ended.  The prorated number of Units awarded shall be determined by multiplying the percentage of Units awarded at the “Target” performance level discussed above in Section 3, by the ratio of actual months of service to 36 months of the original measurement cycle, with the resulting product being increased, if appropriate, as provided below in Section 6.  The Grantee, or his or her legal representatives, beneficiaries or heirs shall be entitled to a distribution, as provided in Section 8 below, of shares of Common Stock equal in number to such prorated number of Units.  

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(b)  Retirement. 
 
At the time and on the date of the Grantee's Retirement on or after attaining the age of 55 and completing at least three (3) consecutive years of service with the Company at the time of such Retirement, the restrictions placed on the Units under Section 2 above shall not be removed and the percentage of Units earned shall not be determined until the end of the measurement cycle.  The number of Units awarded shall be determined by multiplying the ratio of actual months of service to 36 months of the original measurement cycle by the percentage of Units earned, based on the actual performance achieved over the original measurement cycle, as discussed above in Section 3, with the resulting product being increased, if appropriate, as provided below in Section 6.  The Grantee, or his or her legal representatives, beneficiaries or heirs shall be entitled to a distribution, as provided in Section 8 below, of shares of Common Stock equal in number to such prorated number of Units.  

		
	6.
	Credit of Dividend Equivalents.  

Immediately prior to distribution of Units as described above in Section 5 or below in Section 8, the Grantee’s account shall be credited with a number of Units which are based on the amount of dividends that are declared and paid on shares of Common Stock during each fiscal quarter of the measurement cycle, determined in accordance with Section 3 or Section 5 above (“dividend equivalents”).  The number of Units upon which dividend equivalents shall be credited for the benefit of the Grantee is the total number of Units finally determined to have been earned by the Grantee at the end of the measurement cycle in accordance with Section 3 or Section 5 above, as appropriate.  The total amount of each quarterly dividend equivalent shall be converted to the number of Units attributable to that quarterly dividend equivalent, by dividing such dividend equivalent amount by the average of the high and low prices of the Common Stock on the last trading day of the month during each quarter that such dividends are paid during the appropriate measurement cycle.     

7.        Adjustment Upon Changes in Stock.

If there shall be any change in the number of shares of Common Stock outstanding resulting from subdivision, combination, or reclassification of shares, or through merger, consolidation, reorganization, recapitalization, stock dividend, stock split or other change in the corporate structure, an appropriate adjustment in the number of Units with respect to which restrictions have not lapsed shall be made by the Committee.  Depending upon the change in corporate structure, the Committee shall issue additional Units or substitute Units to the Grantee for his or her account, which shall have the same restrictions, terms and conditions as the original Units.  Any such adjustment shall be in accordance with the applicable provisions of Section 14 and/or Section 15 of the Plan. 
 
8.         Distribution of Common Stock or Cash.

The Grantee shall receive a distribution of whole shares of Common Stock equal in number to the number of Units finally determined to be earned as set forth in Section 3 or 

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Section 5(a) above, as the case may be, increased, if appropriate, as provided in Section 6 above (subject to the withholding requirements set forth in Section 9 below), provided the Grantee has been an employee of the Company or a Subsidiary with continuous service during the entire term of the measurement cycle, except in the event of the Grantee’s Termination of Service or Retirement as discussed above in Section 5.  Distribution of shares of Common Stock shall occur as soon as administratively possible, as determined solely by the Company, following the last trading day of the quarter in which the measurement cycle ends as provided for in either Section 3 or Section 5(a) above, as the case may be (such day being referred to as the “Distribution Date”), but in no event later than 90 days following the Distribution Date.  Notwithstanding the immediately preceding sentence, in the case of a distribution of shares of Common Stock on account of any Termination of Service as provided for in Section 5 above, other than death, a distribution of the number of such shares, determined after application of the withholding requirements set forth in Section 9 below, plus any dividends payable with respect to such number of shares, on behalf of the Grantee, if the Grantee is a "specified employee" as defined in §1.409A-1(i) of the Final Regulations under Code Section 409A, to the extent otherwise required under Section 409A, shall not occur until the date which is six (6) months following the date of the Grantee’s Termination of Service (or, if earlier, the date of death of the Grantee).  Upon a distribution of shares of Common Stock as provided herein, the Company shall cause  the Common Stock then being distributed to be registered in the Grantee’s name, but shall not issue certificates for the Common Stock unless the Grantee requests delivery of the certificates for the Common Stock, in writing in accordance with the procedures established by the Company.  The Company shall deliver certificates to the Grantee as soon as administratively practicable following the Company’s receipt of a written request from the Grantee for delivery of the certificates. From and after the date of receipt of such distribution, the Grantee or the Grantee's legal representatives, beneficiaries or heirs, as the case may be, shall have full rights of transfer or resale with respect to such shares subject to applicable state and federal regulations.  Notwithstanding any provisions of this Award Agreement to the contrary, in lieu of a distribution of shares of Common Stock, the Company shall have the option to settle the payment of some or all of the Units in an economically equivalent amount of cash.  

9.          Withholding Requirements.

Upon the removal or lapse of the restrictions on the Units, the number of shares of Common Stock to be distributed by the Company to the Grantee, which are equal to the number of Units finally determined to be earned by the Grantee as set forth in Sections 3 or Section 5(a) and Section 6 above, or an economically equivalent amount of cash, as discussed in Section 8 above, shall be subject to applicable withholding requirements for income and employment taxes arising from the removal or lapse of the restrictions on the Units. However, if the Grantee is a "specified employee" as defined in §1.409A-1(i) of the Final Regulations under Code Section 409A who is subject to the six (6) months delay provided for in Section 8 above, the Company shall, on the date of the Grantee’s Termination of Service, based on the value of a share of Common Stock on such date, withhold the number of shares attributable to any employment taxes and shall, on the date which occurs six (6) months following the date of the Grantee’s Termination of Service (or, if earlier, the date of death of the Grantee), based on the value of a 

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share of Common Stock on such date, withhold the number of shares attributable to income taxes.  Dividends for such delay period will also be payable to the Grantee on such date based on the final net number of shares.  
            
10.        Modification.

This Award Agreement may be changed or modified without the Grantee's consent or signature, if the Company determines, in its sole discretion, that such change or modification is necessary for purposes of compliance with or exemption from the requirements of Section 409A of the Code and any regulations or other guidance issued thereunder, or otherwise to comply with any law.  

Grantee acknowledges that as of the grant date, this Award Agreement and the Plan set forth the entire understanding between Grantee and the Company regarding the acquisition of the Units granted under the Plan and supersede all prior oral and written agreements on this subject. By Grantee’s electronic acceptance and the signature of the Company’s representative below, Grantee and the Company agree that the Units are granted under and governed by this Award Agreement and the Plan. Grantee has reviewed and fully understands all provisions of this Award Agreement and the Plan in their entirety.

ATMOS ENERGY CORPORATION
                            
By:    /s/ KIM R. COCKLIN
           Kim R. Cocklin
      Chief Executive Officer    

5rtsx_Ex10_7

		
			Exhibit 10.7
		

		
			 
		

		
			AMENDMENT NO. 1 AND WAIVER
		

		
			TO
		

		
			AMENDED AND RESTATED MANAGEMENT AGREEMENT
		

		
			 
		

		
			This Amendment No. 1 and Waiver to the Amended and Restated Management Agreement  (this “Amendment”) is made as of September 9, 2016, among 21st Century Oncology, Inc. (f/k/a Radiation Therapy Services, Inc.), a Florida corporation (the “Company”), 21st Century Oncology Holdings, Inc. (f/k/a Radiation Therapy Services Holdings, Inc.), a Delaware corporation (“Holdings”), 21st Century Oncology Investments, LLC (f/k/a Radiation Therapy Investments, LLC), a Delaware limited liability company (“Investors”), and Vestar Capital Partners, LLC (f/k/a Vestar Capital Partners), a New York limited liability company (“Vestar”).  
		

		
			WHEREAS, pursuant to Section 9(a) of the Amended and Restated Management Agreement, dated as of September 26, 2014 (the “Management Agreement”), the Company, Holdings, Investors and Vestar may amend and/or waive any provision of the Management Agreement; and
		

		
			WHEREAS, Canada Pension Plan Investment Board (“CPPIB”) is, on the date hereof, entering into a Subscription Agreement (the “Subscription Agreement”) with the Company, Holdings and Investors, which provides for an investment by CPPIB in Holdings and in connection therewith the Company, Holdings, Investors and Vestar desire to amend the Management Agreement.  
		

		
			NOW, THEREFORE, in consideration for the mutual promises made herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:
		

			
	
			
				 1.
			Capitalized Terms. Capitalized terms used, but not otherwise defined herein, shall have the meaning given to them in the Management Agreement.

			
	
			
				 2.
			Amendments to the Management Agreement.

			
	
			
				 (a)
			Section 2 of the Management Agreement is hereby amended and restated in its entirety to read as follows:

		
			“Services.  Vestar hereby agrees that it shall render to each of Investors, Holdings and the Company (and their subsidiaries) by and through Vestar’s officers, employees, agents, representatives and affiliates as Vestar in its sole discretion shall designate from time to time, financial advisory or other similar services to Investors, Holdings and the Company (and their subsidiaries) in connection with acquisitions, divestitures, refinancings, restructurings and similar transactions by Investors, Holdings and the Company (and their subsidiaries).  It is expressly agreed that the services to be performed hereunder shall not include full or part-time employment by any of the Company and its subsidiaries of any employee or partner of Vestar or any of its affiliates.”
		

			
	
			
				 (b)
			Section 3(a) of the Management Agreement is hereby amended and restated in its entirety by deleting the current provision in its entirety and replacing such provision to read as follows:

		
			“[Reserved.]”
		

		
			

		 

 

		

			
	
			
				 (c)
			Section 3(b) of the Management Agreement is hereby amended and restated in its entirety to read as follows:

		
			“Subject to Section 7, Investors, Holdings and the Company and their respective successors hereby jointly and severally agree to pay or cause to be paid to Vestar either (i) $6,000,000 for any financial advisory or similar services provided by it and/or its affiliates in connection with a Sale of the Company (as defined in that certain Securityholders Agreement, dated as of the date hereof, by and among Investors and certain of the securityholders of Investors from time to time party thereto, as the same may be amended, modified or restated from time to time (the “Securityholders Agreement”)) or (ii) $6,000,000 in connection with a Qualified IPO or other initial Public Offering (as defined in the Securityholders Agreement) (the fees set forth in this Section 3(b), the “Advisory Fee”).” 
		

			
	
			
				 (d)
			Section 4 of the Management Agreement is hereby amended and restated in its entirety to read as follows:

		
			“In addition to the Advisory Fee, Investors, Holdings and the Company hereby jointly and severally agree, at the direction of Vestar, to pay directly or reimburse Vestar for its reasonable Out of Pocket Expenses incurred after the date hereof in connection with the services provided to Investors, Holdings and the Company (and their subsidiaries) pursuant to Section 2 hereof.  For the purposes of this Agreement, the term “Out of Pocket Expenses” shall mean the amounts paid by or on behalf of Vestar in connection with board service by the Vestar Managers (as defined in the Third Amended and Restated Securityholders Agreement, dated as of the date hereof, by and among the Company, Holdings, Investors, Vestar and the other parties thereto) including reasonable costs of transportation, per diem, telephone calls, word processing expenses or any similar expense not associated with Vestar’s ordinary operations and, in the event approved by the board of directors of Holdings (including approval by the members of the board of directors of Holdings who are designees of the Majority Preferred Stockholders (as defined in the Securityholders Agreement)), any out-of-pocket costs and expenses incurred by or on behalf of Vestar in connection with the services contemplated by Section 2.  All reimbursements for Out-of-Pocket Expenses shall be made promptly upon or as soon as practicable after presentation by Vestar of the statement in connection therewith.”
		

			
	
			
				 (e)
			The last sentence of Section 6 of the Management Agreement is hereby amended and restated in its entirety to read as follows:

		
			“The provisions of Sections 4, 5, 8 and 9 and the joint and several obligation of Investors, Holdings and the Company to pay the Advisory Fee shall survive the termination of this Agreement.”
		

			
	
			
				 (f)
			Section 7 of the Management Agreement is hereby amended and restated in its entirety to read as follows:

		
			“Default Event.  Notwithstanding anything herein to the contrary, upon (A) the occurrence and during the continuance of a Default Event (as defined in the Certificate of Designations) occurring after September 9, 2016, or (B) upon and following the exercise of a Repurchase Option (as defined in the Certificate of Designations) as a result of a Default Event (as defined in the Certificate of Designations) occurring after September 9, 2016 then, in either case, (i) Section 3(b) shall have no force or effect and no payment shall 

		 

 

be owed to Vestar thereunder, (ii) other than with respect to any accrued and unpaid Fees (as defined in the Agreement prior to giving effect to Amendment No. 1 and Waiver to the Amended and Restated Management Agreement) incurred on or prior to December 31, 2015 (the “Accrued Fees”), any and all other payment rights of Vestar hereunder (including rights of reimbursement and indemnification) shall be subordinated to the senior and priority right of payment of the holders of the Convertible Preferred Stock to the extent of the Stated Value thereof and (iii) Section 2 shall have no force or effect and Vestar shall have no obligation to provide services pursuant to this Agreement. Vestar agrees that if it receives any such payment hereunder on or after a Default Event occurring after September 9, 2016 and prior to the full payment of the Stated Value to such holders, it shall hold such received amount in trust for such holders and shall promptly remit same as directed by the Majority Holders.”
		

			
	
			
				 (g)
			Section 9(a) of the Management Agreement is hereby amended and restated in its entirety to read as follows:

		
			“No amendment of any provision of this Agreement, or consent to any departure by either party from any such provision, shall in any event be effective unless the same shall be in writing and signed by the parties to this Agreement.  No waiver of any provision of this Agreement shall in any event be effective unless the same shall be in writing and signed by the party against whom the waiver is to be effective. Any amendment, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.” 
		

			
	
			
				 (h)
			The Management Agreement is hereby amended such that any reference to “Advisory Fees” shall be deemed to refer to “Advisory Fee”.  

			
	
			
				 3.
			Waiver of Fees. The Company, Holdings, Investors and Vestar hereby irrevocably and unconditionally waive, release and forgive Vestar’s right to receive any accrued but unpaid Fees incurred on or after January 1, 2016 (it being understood and agreed that the foregoing waiver shall in no way affect Vestar’s right to receive any Accrued Fees, which Accrued Fees shall remain owing in accordance with the terms of the Management Agreement (without giving effect to this Amendment or any Default Event occurring on or prior to September 9, 2016), provided that such Accrued Fees shall not become immediately due and payable until the earlier of (a) the occurrence of the Third Capital Event (as defined in that certain Credit Agreement, dated as of April 30, 2015 (as amended, supplemented or otherwise modified from time to time), by and between the Company, Holdings, the lenders party thereto and the administrative agent and other agents and arrangers named therein), (b) a Sale of the Company or Public Offering (each, as defined in the Securityholders Agreement) and (c) April 1, 2017.

			
	
			
				 4.
			Effect of Amendment. Except as expressly amended hereby, the Management Agreement shall remain unaltered and in full force and effect and the respective terms, conditions or covenants thereof are hereby in all respects confirmed.  Whenever the Management Agreement is referred to in any agreement, document or other instrument, such reference will be to the Management Agreement as amended by this Amendment.  

			
	
			
				 5.
			Miscellaneous. Section 9 of the Management Agreement is incorporated herein by reference, mutatis mutandis.

		
			[The remainder of this page intentionally left blank.]
		

		
			 
		

		
			 
		

		
			

		 

 

		

			 

		

		

		
			IN WITNESS WHEREOF, the undersigned have caused this Amendment to be signed as of the date first written above.
		

			
					
						 

					
					
						VESTAR CAPITAL PARTNERS, LLC

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By: 

					
					
						/s/ Steven Della Rocca

				
	
					
						 

					
					
						Name:

					
					
						Steven Della Rocca

				
	
					
						 

					
					
						Title:

					
					
						Managing Director and General Counsel

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						21st CENTURY ONCOLOGY, INC.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By: 

					
					
						/s/ LeAnne M. Stewart

				
	
					
						 

					
					
						Name:

					
					
						 LeAnne M. Stewart

				
	
					
						 

					
					
						Title: 

					
					
						Chief Financial Officer

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						21st CENTURY ONCOLOGY HOLDINGS, INC.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By: 

					
					
						/s/ LeAnne M. Stewart

				
	
					
						 

					
					
						Name:

					
					
						 LeAnne M. Stewart

				
	
					
						 

					
					
						Title: 

					
					
						Chief Financial Officer

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						21st CENTURY ONCOLOGY INVESTMENTS, LLC

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By: 

					
					
						/s/ James L. Elrod, Jr. 

				
	
					
						 

					
					
						Name:

					
					
						James L. Elrod, Jr.

				
	
					
						 

					
					
						Title:

					
					
						President

				

		
			 
		

		 

		

			[Signature Page to Amendment No. 1 and Waiver to A&R Management Agreement]

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