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f8kprwt021709tarpfinal.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 10.2

February 13, 2009

Dear [Senior Executive Officer Name],

     Effective today, PremierWest Bancorp (the “Company”) entered into a Letter Agreement including Securities Purchase Agreement—Standard Provisions (the “Purchase Agreement”) with the United States Department of Treasury (“Treasury”) that provides for the Company’s participation in the Treasury’s TARP Capital Purchase
Program (the “CPP”). If the Company ceases at any time to participate in the
CPP, this letter shall be of no further force and effect.

     For the Company to participate in the CPP, the Company is required to establish specified standards for incentive compensation to its Senior Executive
Officers and to make changes to its compensation arrangements.

     The requirements of this Agreement shall apply to you only for so long as both (1) you are a Senior Executive Officer of the Company, and (2) any debt or
equity securities issued by the Company under the CPP are held by Treasury (the “CPP Covered Period”). To comply with these requirements, and in consideration of the benefits that you will receive as a result of the Company’s participation in the CPP, you agree as follows:

          A.      No
Golden Parachute Payments. The Company is prohibiting any Golden Parachute Payment to you
during any CPP Covered Period. To the extent any event occurs during the CPP Covered Period that would otherwise trigger a golden parachute payment, you will be entitled to the lesser of (i) your rights under the Benefit Plans (as defined below) and
(ii) the maximum amount allowed under Section 111(b)(2)(C) of EESA.

          B.      Recovery
of Bonus and Incentive Compensation. Any bonus and incentive compensation paid to you
during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

          C.      Compensation
Program Amendments. Each of the Company’s compensation, bonus, incentive and
other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements; collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (A) and (B).

          D.      Defined
Terms. The following terms have the meanings set forth in this paragraph: (i)
“Senior Executive Officer” means the Company’s “senior executive
officers” as defined in subsection 111(b)(3) of EESA; (ii) “Golden Parachute Payment” is used with same meaning as in Section 111(b)(2)(C) of EESA; (iii) “EESA” means the Emergency Economic Stabilization Act of 2008 as implemented by guidance or regulation issued by the Department of the Treasury and as published in the Federal Register on October 20, 2008, as in effect on the date
hereof; (iv) “Company” includes any entities treated as a single employer with
the Company under 31 C.F.R. § 30.1(b) (as in effect on the Closing Date).

          E.      Interpretation of CPP Covered Period. CPP Covered Period (as defined above) shall be limited
by, and interpreted in a manner consistent with, 31 C.F.R. § 30.11 (as in effect on the Closing Date).

30158025.01

          F.      Securities
Purchase Agreement. You are also delivering a waiver pursuant to the Purchase
Agreement, and, as between the Company and you, the term “employer” in that waiver will be deemed to mean the Company as used in this letter.

          G.      Interpretation consistent with EESA. Provisions (A) and (B) of this letter are intended to, and
will be interpreted, administered and construed to, comply with Section 111 of EESA (and, to the maximum extent consistent with the preceding, to permit operation of the Benefit Plans in accordance with their terms before giving effect to this
letter).

          H.      Compensation
Committee Review. In addition, the Company is required to review its Benefit Plans
to ensure that they do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company (within the meaning of § 30.9 Q-4 of 31 C.F.R. Part 30). To the extent any such review requires
revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith and take such action as is necessary to amend such Benefit Plan to eliminate such encouragement, and incentive
compensation will be determined pursuant to such amended arrangements.

          I.      Miscellaneous. To the extent not subject to federal law, this letter will be governed by,
interpreted and construed in accordance with the laws of the State of Oregon without regard the provisions thereof that would apply the law of any other State. This letter may be executed in two or more counterparts, each of which will be deemed to
be an original.

A signature transmitted by facsimile shall be deemed an original signature. Your execution of this Agreement shall not be determinative of your status as a Senior Executive
Officer.

     The Company appreciates the concessions you are making and looks forward to your continued leadership during these financially turbulent
times.

Yours sincerely,

PREMIERWEST BANCORP

By:  
________________________

         Name: Tom Anderson

         Title: EVP / Chief Administrative Officer

         Date: February 13, 2009

Intending to be legally bound, I agree with and accept the foregoing terms on the date set forth below.

______________________________

[Senior Executive Officer Name]

[Senior Executive Officer Title]

Date: February 13, 2009

30158025.01Exhibit 10.1 

2009 MANAGEMENT
INCENTIVE COMPENSATION PLAN SUMMARY 

Alliant Energy Corporation (the
“Company”) maintains the Management Incentive Compensation Plan (MICP), which
provides eligible employees with a cash bonus if corporate and individual goals are met.
The following is a summary of the material terms of the MICP applicable to named executive
officers of the Company for 2009. 

Alliant Energy Corporate
Performance: The table below outlines the 2009 goals against which corporate
performance will be measured and the funding associated with each level of achievement.  

2009 CORPORATE
PERFORMANCE MEASURES 
For Purposes of
Determining the Short-Term Incentive Pool 

	Earnings Per Share (EPS) (1)
	Cash Flow (2)

	Level
	Funding
	Level
	Funding

	Maximum	150%	 	 
	
Target	100%	Target ($545M)	100%
	
Threshold (3)	  20%	 
	($2.10)	 	 	

	Weighting of EPS in

final Corporate Performance
	Weighting of Cash Flow in

final Corporate Performance

	85%	15%

	 	(1) 	Earnings
per share (EPS) amounts used for purposes of determining short-term incentive pool will
be based on utility earnings from continuing operations only. 

	 	(2) 	Cash flow amount used for purposes
of determining short-term incentive pool funding will be based on utility and Alliant Energy Corporate
Services, Inc. (SERVCO) cash flows from operations only. If
cash flows do not meet the target amount, the short term incentive pool will only
be funded at 85% of the funding level achieved by EPS. Calculation of the cash flow
amount will exclude changes from budgeted sales of customer receivables, tax effected pension
contributions and net collateral held by or paid by the utilities and SERVCO. 

	 	(3) 	If
the Threshold EPS level, which is the mid-point of utilities earnings per share guidance
issued on December 18, 2008, is not met, there will be no payout for the 2009 plan year. 

MICP Target Incentives: Achievement
of the target level goals and objectives may result in a payout of 100% of the incentive
opportunity. However, a participant’s final award may range anywhere from 0 to 200%
of that target based on an individual’s achievement of performance goals. Incentive
opportunity is expressed as a percentage of eligible earnings for the plan year.  

Individual Performance Goals: For
2009, there are financial, execution and corporate well-being goals for the CEO and other
executive officers. Financial Goals are weighted at 50%. The 2009 annual financial goals
are to achieve Alliant Energy Corporation consolidated EPS from continuing operations of $2.33 for the CEO, COO, CFO
and Senior Vice President, and Utility EPS from continuing operations of $2.10 for the
all the named executive officers. All officers have a target to achieve cash flows from
continuing operations of $545 million at utilities and SERVCO, excluding changes in sales
of customer receivables, tax effected pension contributions and net collateral held by or
paid by the utilities and SERVCO. Mr. Aller has financial
goals related to non-regulated transportation operations. Execution Goals weighted at 30%
include various accomplishments for the WPL and IPL future generation plans;
utility wind projects; utility rate cases; customer service and reliability standards; clean
air compliance plan; environmental; and Lean Six Sigma goals. Corporate Well Being Goals
weighted at 20% include various accomplishments for employee diversity metrics and safety
goals.  

Claw-back provision: The
Company will seek reimbursement of excess incentive awards paid to executive officers
under the MICP if the Company’s financial statements are the subject of a
restatement due to gross negligence, intentional misconduct or fraud. This provision
applies to incentive payments made within 12 months of the restatement.offerletter.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

Exhibit 10.4

 

 

February 13, 2009

Borders Group, Inc. 

100 Phoenix Drive 

Ann Arbor, MI 48108

Attention:  Mr. Ron Marshall,

                 President and Chief Executive Officer

EXTENSION AND AMENDMENT OF PURCHASE OFFER

Ladies and Gentlemen:

                     Reference is made to our letter to you, dated as of April 9, 2008, as extended pursuant to our letter to you, dated as of December 22, 2008 and as amended pursuant to our letters to you, dated as of January 16, 2009, January 27, 2009 and February 11, 2009 (the “Purchase Offer Letter”). Capitalized terms used but not defined have the meanings specified in the Purchase Offer Letter.

                     This confirms your and our agreement that:

                     (i) the Drop-Dead Date is hereby extended to April 15, 2009, or such later date as you and we may mutually agree in writing; and

                     (ii) the reference in Section 1 of the Purchase Offer Letter to “3 calendar days” is hereby replaced with the term “10 Business Days,” and the reference in Section 9(i) of the Purchase Offer Letter to “3rd calendar day” is hereby replaced with the term “10th Business Day.” For the avoidance of doubt (x) the terms “Business Day” and “business day” used in the Purchase Offer Letter shall have the same meaning ascribed to the term “business day” in the form Stock Purchase Agreement (the “Form SPA”) attached as Exhibit A to the Purchase Offer Letter, and (y) Seller may accept the purchase offer for the UK Business by executing and delivering irrevocable written notice of such acceptance to Buyer by no later than 11:59 p.m. on March 30, 2009.

                     The parties hereto agree to revise the Form SPA promptly prior to its execution and delivery in accordance with the provisions of the Purchase Offer Letter, so as to replace the reference to “third calendar day” in Section 1.3 with the term “tenth business day.”

                     The parties hereto agree and acknowledge that Seller is making today a payment to Buyer in an aggregate amount of $750,000 as reimbursement of expenses of Buyer and as consideration for the extension of the Drop-Dead Date as set forth herein and the receipt of such funds by Buyer today is a condition precedent to the effectiveness of this letter agreement.

                     For the avoidance of doubt, the Purchase Offer Letter and the Form SPA shall remain in full force and effect in accordance with their original terms, except as expressly amended or modified by this letter agreement.

                     This letter agreement shall be governed by and construed in accordance with the laws of the State of New York.

[signatures on following page]

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	Very truly yours,  
	  
	  
	  
	PERSHING SQUARE CAPITAL MANAGEMENT, L.P.  
	By: PS Management GP, LLC, its General Partner  
	  
	By: /s/ William A. Ackman
	Name: William A. Ackman, Managing Member  

	Agreed to and accepted this  
	   13th day of February, 2009  
	  
	BORDERS GROUP, INC.  
	  
	  
	By: /s/ Mark Bierley 
	Name: Mark Bierley  
	Title: Executive Vice President and Chief Financial Officer  

-3-

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