Document:

Exhibit 10.11

 

Agreement on Cooperative Education

 

Party A: Yulin Branch of Central Radio
& Television Secondary Specialized School

 

Party B: Wenzhou City Ouhai District
Yangfushan Culture Tutorial School

 

For the common development
of education, Party A and Party B specially hold a comprehensive high school class (TV technical secondary school class), and now
reach the following agreement:

 

1. 
Party A is a branch school directly under the Central Radio and Television secondary specialized school, and can establish teaching
points and learning centers with TV secondary education. Party B is a legal school running institution with school running qualification
approved by local education bureau. Now the two sides cooperate to set up a comprehensive high school class. Party B is responsible
for teaching and takes ordinary high school courses. After passing the examination, Party A shall be responsible for handling the
graduation certificate of Central Radio and television technical secondary school, and can participate in the general college entrance
examination.

 

2. Party
B shall be responsible for the teaching site, teachers, enrollment and teaching management; Party A shall be responsible for the
application of student status, examination and the issuance of graduation certificate.

 

3. Income
distribution: the tuition income of students shall be collected and obtained by Party B. both parties confirm that Party B shall
pay Party A the student status management fee, which is RMB 1500 per student.

 

4. The
term of cooperation is tentatively 10 years, starting from February 1, 2017 to January 31, 2027. After the expiration, both parties
will renew the agreement.

 

5. This
agreement will come into force after being signed and sealed by both parties. If there are different opinions in the future, both
parties can solve it through negotiation.

 

     

     

    

 

Party A:
Yulin Branch of Central Radio & Television Secondary Specialized School

 

/s/ Yulin Branch of Central Radio &
Television Secondary Specialized School

 

Party B: Wenzhou City Ouhai District Yangfushan
Culture Tutorial School

 

/s/ Wenzhou City Ouhai District Yangfushan
Culture Tutorial School

 

Signing date: February
1, 2017

 

    2

     

    

 

 

Certificate of Authorization

 

This is to authorize
Wenzhou City Ouhai District Yangfushan Culture Tutorial School to hold academic education activities of Central Radio and Television
Secondary Specialized School, and agree that the school, as a subordinate Wenzhou learning center of Wenzhou, will carry out enrollment
and class work. It is required that Wenzhou City Ouhai District Yangfushan Culture Tutorial School run schools in accordance with
laws and regulations and achieve good results early.

 

This power of attorney
is used in combination with the authorization agreement of China Central Radio and Television secondary professional school.

 

/s/ Yulin Branch of Central Radio &
Television Secondary Specialized School

 

Yulin Branch of Central Radio & Television
Secondary Specialized School

 

February 1, 2017

 

3Exhibit 10.12

 

Equity transfer agreement

 

Transferor: Weng Xueyuan

 

(ID No.: ) (hereinafter
referred to as Party A)

 

Transferee: Wenzhou golden sun
Education Development Co., Ltd. (unified social credit no: ) (hereinafter referred to as Party B) According to the resolution
of the Council of Yangfushan cultural tutorial school in Ouhai District of Wenzhou City on January 18, 2019, Party A and
Party B reached the following agreement on the transfer of Party A's property share in the unit in the conference room of
Yangfushan cultural Tutorial school in Ouhai District, Wenzhou on January 18, 2019:

 

1. Party A voluntarily transfers 100% of
the equity share (RMB 100000) owned by Yangfushan culture Tutorial school in Ouhai District of Wenzhou City to Party B.

 

2. The above transfer funds shall be delivered
by both parties out of the account, and shall be fulfilled within 15 days from the date of signing this agreement.

 

3. After signing this agreement, Party
A and Party B shall go through the change procedures with the relevant departments. Party A shall actively assist Party B in handling
relevant procedures. This Agreement shall come into force after being signed by both parties and registered by relevant departments.

 

4. Party A shall be fully responsible for
the debts of the school before the transfer, while Party B shall not be jointly and severally liable. After the transfer, Party
A shall not bear all legal liabilities of the school.

 

5. If one of the two parties breaks the
contract, it shall continue to take remedial measures or compensate for losses according to the provisions.

 

6. Disputes between the two parties shall
be settled by the court.

 

7. This agreement is made in quadruplicate,
one for each party

 

One for filing and one for tax department.

 

	Transferor:	 
	 	 
	/s/ Xueyuan Weng	 
	 	 
	transferee:	 
	 	 
	/s/ Wenzhou golden sun Education Development Co., Ltd.

 

January 19, 2019tvty-ex101_232.htm

Exhibit 10.1

October 4, 2018

 

 

Tommy Lewis

Address on file

 

Dear Tommy,

 

We are delighted to confirm our offer to you to join Tivity Health! We anticipate your start date to be no later than October 12, 2018. Your role at Tivity Health will be SVP of Investor Relations and Transformation, reporting to Donato Tramuto.  In this position, you will play a pivotal role in delivering on our purpose: To empower older adults to live their best lives – with vitality, dignity and purpose. 

 

Our culture is one that fosters empowerment, excellence and engagement. We are transforming the aging experience – reducing the burden of chronic conditions among older adults, enabling these to be their best years, and inspiring the next generation that the best is yet to come. Our collective commitment to this vision is foundational to our culture. It motivates us, connects us and makes Tivity Health a meaningful and fun place to work. 

 

As part of your commitment to your position, you will be expected to follow all Tivity Health policies and procedures, including our Code of Business Conduct.

 

We are excited that you are joining our team, and look forward to working with you. 

Now, the good stuff:

 

Compensation and Benefits

	
 
	
•
	
Your base salary will be $260,000 or $10,000.00 payable bi−weekly. 

	
 
	
•
	
Your role makes you eligible to participate in Tivity Health’s Colleague Bonus Program consistent with your position and plan provisions.*  The bonus target for your new position is 30% of your fiscal year eligible base pay earnings. Payout is not guaranteed, but is contingent upon achievement of company and individual performance objectives. Should your role change during the year, your bonus eligibility and target may be adjusted accordingly.  All colleagues must be actively employed through the end of the performance period to be eligible.

 

 

 

 

 

Tommy Lewis offer letter, page 2

SVP of Investor Relations and Transformation

 

	
 
	
•
	
Eligibility for our Long Term Incentive (LTI) plan, currently with a target of $100,000.  Our LTI plan may consist of stock options, restricted stock units, performance stock units, market stock units, restricted cash and/or performance cash depending on the annual determination of the Compensation Committee of the Board of Directors. 

	
 
	
•
	
As a full−time, exempt employee, you will be eligible to receive our full benefits package following your eligibility waiting period for each of the plans. We have enclosed a summary of our benefits for your review.

	
 
	
•
	
If you’re at least 21 years old, you are eligible to participate in our 401(k) program on your first day of employment. In support of your financial well-being, you will automatically be enrolled in the plan after 90 days of employment if you haven’t already made elections. You may enroll at www.401k.com to select or change your deferral rate at any time.

 

Like all responsible companies, Tivity Health has a few conditions that come along with this offer.

Prior Employment

You represent that you are not subject to any non-competition provisions or restrictive covenants that would prevent or affect your acceptance of this offer of employment and the performance of your employment obligations at Tivity Health. You further represent that the performance of your employment obligations will not violate or breach any other agreement or arrangement with a prior employer. In your work for the company, you will be expected not to use or disclose any confidential or proprietary information or trade secrets of any prior employer or other person to whom you have an obligation of confidentiality.  

 

Restrictive Covenants  

Upon acceptance of this offer, you understand and agree that your employment is contingent upon your execution of and delivery to the company of a Trade Secret and Proprietary Information Agreement enclosed. To translate, that means you need to protect our proprietary information. You also agree to comply with all policies related to the acceptable use of all systems and information assets of the company during your employment.

 

At-Will Employment

You understand that your employment with Tivity Health is for an unspecified duration that constitutes at-will employment and that either you or the company can terminate this relationship at any time, with or without cause.

 

Company Events and Activities 

While here, you’ll have the opportunity to participate in a number of engaging activities and events.  During these events, we take photos and share them across our sites. Sometimes those photos, stories, and videos are used for other purposes, such as recruiting videos, 

sales or client meetings, and even Board meetings.

 

 

Tommy Lewis offer letter, page 3

SVP of Investor Relations and Transformation

 

Background Check

You understand that this offer is contingent upon the successful completion of our background check process. 

 

Please return a signed copy of this offer letter to your Talent Acquisition Partner. Feel free to contact them directly should you have any questions or need assistance with the enclosed materials.

 

Welcome!

 

 

Talent Acquisition Team

Tivity Health

 

 

Acknowledged and Agreed:

 

/s/ Tommy Lewis

Tommy Lewis

 

October 5, 2018

DATE

 

 

*Colleagues who are bonus-eligible and begin employment prior to October 1 will participate in the current year's plan. Colleagues who are bonus-eligible and hired on or after October 1 will be eligible to participate in the following year's plan, which is subject to approval (including targets) by the Compensation Committee of the Board of Directors.

 

 

Addendum to Offer Letter for Tommy Lewis dated October 4, 2018

Termination Provisions:

 

If your employment is terminated at any time without Cause(1) or if you terminate your employment for Good Reason(2), you will be entitled to receive: 

 

	
 
	
•
	
All base salary and benefits due through the date of termination payable within thirty (30) days of the date of termination, with the date of such payment determined by the Company in its sole discretion. 

 

Upon your execution of a full release of claims in favor of the Company, provided that such release must be executed and become effective and any revocation period must expire within sixty (60) days of the date of termination, you will also be entitled to receive:

	
 
	
•
	
An amount equal to your base salary for a total of six (6) months following the date of termination.(3) 

	
 
	
•
	
Group medical benefits for six (6) months after the date of termination. The costs of the Company's portion of any premiums due will be included in your gross income to the extent the provision of such benefits is deemed to be discriminatory under Section 105(h) of the Internal Revenue Code of 1986, as amended.(3)

 

(1) The following events constitute “Cause” for termination:

	
 
	
•
	
Continued failure to substantially perform your duties after written notice and failure to cure within sixty (60) days;

	
 
	
•
	
Arrest relating to a felony or engaging in misconduct that is materially injurious to the Company, monetarily or to its reputation or otherwise, or that would damage your ability to effectively perform your duties;

	
 
	
•
	
Theft or dishonesty by you;

	
 
	
•
	
Intoxication while on duty; or 

	
 
	
•
	
Willful violation of Company policies or procedures after written notice and failure to cure within thirty (30) days.

 

(2) You may terminate your employment by written notice of your resignation delivered within sixty (60) days after the occurrence of any of the following events, each of which shall constitute "Good Reason" for resignation and together shall be "Good Reason Events":

a.            a material reduction in your base salary (unless such reduction is part of an across-the-board reduction affecting all Company executives with a comparable role or title); and

b.            a requirement by the Company to relocate your residence, unless such relocation is mutually agreed upon by you and the Company.

 

 

You shall give the Company written notice of your intention to resign for Good Reason within sixty (60) days after the occurrence of one of the Good Reason Events.  The notice must state with reasonable specificity the Good Reason Event. Thereafter, the Company shall have sixty (60) days (the "Cure Period") to rescind the Good Reason Event(s).  If the Company rescinds the Good Reason Event(s) within the Cure Period, you no longer shall have the right to resign for Good Reason. If the Company fails to rescind the Good Reason Event(s) before the expiration of the Cure Period, then you may resign for Good Reason as long as the resignation for Good Reason occurs within thirty (30) days following the expiration of the Cure Period; otherwise the right to resign on the basis of such Good Reason Event(s) shall be deemed to have been waived.

 

(3) These amounts will be paid to you periodically at the Company's regular payroll dates commencing within sixty (60) days following the date of termination (the commencement date will be determined by the Company, in its sole discretion).  This amount may cease prior to the 6-month period if you have access to your partner’s health insurance coverage.

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