Document:

10K 14.12.31 - Q4 - Ex 10.4

EXHIBIT 10.4
EMERGE ENERGY SERVICES LP
DIRECTOR COMPENSATION PROGRAM

This Emerge Energy Services LP (the “Partnership”) Director Compensation Program (this “Program”) for Directors (as defined below), shall be effective as of January 9, 2015.  
Definitions
For purposes of this Program, the following definitions shall apply.  Capitalized terms not otherwise defined herein shall have the meaning ascribed in the Emerge Energy Services LP 2013 Long-Term Incentive Plan (the “Plan”).
“Board” means the board of directors of the GP.
“Directors” means the non-employee directors of the Board who are not affiliated with the Partnership, the GP or Insight Equity. 
“GP” means Emerge Energy Services GP, LLC, the general partner of the Partnership.
“Insight Equity” means Insight Equity Management Company LLC and its affiliated investment funds and its controlling equity owners.
“IPO” means the closing of the Partnership’s initial public offering of its common units.
Cash Compensation
Effective as of January 9, 2015, annual retainers will be paid in the following amounts to Directors:
	
				
	Director:
	

	$50,000
	

	Chair of any Board committee, other than a special committee:
	

	$10,000
	

	Member (other than Chair) of any Board committee, other than a special committee:
	

	$2,500
	

All annual retainers will be paid in cash quarterly in arrears promptly following the end of the applicable calendar quarter, but in no event more than thirty (30) days after the end of such quarter.  Annual retainers will be pro-rated to reflect any partial year of service.
Equity Compensation

	
		
	Annual Restricted Unit Grant:
	Each Director who is serving on the Board as of an anniversary of the IPO shall be granted Restricted Units with a value of $75,000 on such date (the “Annual Restricted Unit Grant”).

The Annual Restricted Unit Grant shall be granted on the date of the applicable anniversary of the IPO, and shall vest in full on the first (1st) anniversary of the date of grant, subject to continued service through the vesting date.

	Initial Restricted Unit Grant:
	Each Director who is initially elected or appointed to serve on the Board after the IPO shall be granted Restricted Units with a value equal to the product of (i) $75,000 on the date of such initial election or appointment multiplied by (ii) the fraction obtained by dividing (A) (1) twelve minus (2) the number of full months elapsed between the date of the immediately preceding anniversary of the IPO and the date of such initial election or appointment by (B) twelve (the “Initial Restricted Unit Grant”).

The Initial Restricted Unit Grant shall be granted on the date of the applicable Director’s initial election or appointment to serve on the Board and shall vest in full on the anniversary of the IPO immediately following the applicable grant date, subject to continued service through the vesting date.

Miscellaneous
All applicable terms of the Plan apply to this Program as if fully set forth herein, and all grants of Restricted Units and Common Units hereby are subject in all respects to the terms of such Plan (as applicable).  The grant of any Restricted Unit under this Program shall be made solely by and subject to the terms set forth in a written agreement in a form to be approved by the Board and duly executed by an executive officer of the Company.
Effectiveness, Amendment, Modification and Termination
This Program was initially effective upon the IPO, and as amended shall become effective as of January 9, 2015.  This Program may be amended, modified or terminated by the Board in the future at its sole discretion.  No Director shall have any rights hereunder, except with respect to any Restricted Unit granted pursuant to the Program.Exhibit106-CashBonusPlanDescription (3)

Exhibit 10.6

 
Written Description of 
SunEdison, Inc. Cash Incentive Plan 
Covering Executive Officers 
 
SunEdison, Inc. ("SunEdison" or the "Company") maintains a cash incentive plan that covers the Chief Executive Officer and the Company's other executive officers. Under current practice, the Compensation Committee (the "Committee") makes annual cash awards under the plan to executive officers to recognize and reward Company and individual performance. 
For each participant, the Committee establishes threshold, target and maximum bonus levels that are defined as a percentage of the participant's base salary. The “threshold” level of performance for a particular performance goal represents the lowest level of performance for which any bonus would be earned on that performance goal. The "maximum" level of performance represents the level for which the maximum bonus would be earned for that particular goal, and the "target" represents the target level of performance. The actual bonus, if any, attributable to each performance goal is calculated based on the actual performance compared to these “threshold," "target" and "maximum" performance levels. The "threshold," "target" and "maximum" levels for each category of executives under the plan are generally as follows: 
 

	
				
	 
	 
	 
	 

	 
	Threshold 
 
	Target 
 
	Max 
 

	CEO, SunEdison
	63%
	125%
	250%

	CEO, SunEdison Semiconductor
	50%
	100%
	200%

	EVP
	38%
	75%
	150%

	SVP
	30%
	60%
	120%

	VP
	     15-20%
	30-40%
	50-80%

The plan has two main components: a Company milestone component and a personal goal component.  The Company-based and personal performance metrics account for varying levels of the total potential award under the 2012 short term incentive plan as follows: 
 

	
			
	 
	 
	 

	 
	Company Metrics 
 
	Personal Metrics 
 

	CEO
	80%
	20%

	EVP, SVP
	80%
	20%

	VP
	60%
	40%

 
 
As a result, the bonus paid to the CEO, if any, is 80% tied to Company metrics.  The Company's executive officer s have a number of quarterly, semi-annual and/or annual performance objectives including those tied to the Company's financial performance, along with a number of individual performance and financial objectives applicable to each executive officer's functional area. These objectives are reviewed and approved by the Committee on an annual basis. Based on the achievement against these performance objectives, the executive officers are entitled to receive cash awards, which are generally paid on an annual basis.  

The plan is non-contractual.  The Company maintains the right to terminate or amend the cash incentive plan at any time.Exhibit108-DirectorPlan

Exhibit 10.8 
Summary of Director Compensation 
Set forth below is a summary of the compensation paid by SunEdison, Inc. (the “Company”) to its outside directors who are not employees of the Company or any subsidiary of the Company. Directors that are also employees of the Company receive no additional compensation for their service as a director. 
Initial Election to the Board of Directors 
Upon initial election to the Company’s Board of Directors, all outside directors are awarded restricted stock units (RSUs) that have an annualized common stock value of approximately $185,000 on the date of grant, which is prorated based on the Director's date of election.  The RSUs shall vest 100% on the first anniversary of the date of grant.
Annual Compensation 
Restricted Stock Units (RSUs) 
		
	•
	Annually (as of the date of the Annual Stockholder Meeting for that year), each person whose term on the Board of Directors extends for an additional year or who is expected to be nominated for re-election at such Annual Meeting of Stockholders, shall be awarded restricted stock units (RSUs) for shares of the Company’s common stock having a value of approximately $185,000 on the date of grant (based on the closing price of the Company’s common stock on the date of grant). Each RSU shall represent the right to receive one share of the Company’s common stock. The actual number of RSUs to be awarded shall be determined in increments of 100 RSUs such that the value of the Company’s common stock underlying the RSUs is as close to $185,000 as possible. 

		
	•
	The RSUs shall vest 100% on the first anniversary of the date of grant.

Cash Compensation 
The directors shall receive the following cash compensation: 
		
	•
	An annual retainer of $65,000. 

		
	•
	An additional retainer of $65,000 for the Chairman of the Board. 

		
	•
	An additional retainer of $40,000 for the Chairman of the Audit Committee and an additional retainer of $15,000 for each other member of the Audit Committee. 

		
	•
	An additional retainer of $25,000 for the Chairman of the Compensation Committee and an additional retainer of $10,000 for each other member of the Compensation Committee. 

		
	•
	An additional retainer of $10,000 for the Chairman of the Nominating and Corporate Governance Committee and an additional retainer of $5,000 for each other member of the Nominating and Corporate Governance Committee. 

Reimbursable Expenses 
All reasonable out-of-pocket expenses incurred by a director for attending Board or Committee meetings will be reimbursed by the Company.Exhibit109-Salaries

Exhibit 10.9 
Summary of Compensation Arrangements for Certain Named Executive Officers 
Set forth below is a summary of the compensation paid by SunEdison, Inc. (the “Company”) to the executive officers to be named in the Company’s 2015 annual proxy statement who are not covered by current employment agreements, as of the date of filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (the “Form 10-K”) and are continuing as an executive officer of the Company as of February 27, 2015. None of the below executive officers has an employment agreement with the Company.  Each of these executive officers is an employee at will whose compensation and employment status may be changed at any time in the discretion of the Company’s Board of Directors  
Base Salaries. These executive officers currently receive base salaries in the amounts indicated below: 
 
	
		
	 
	 

	Name and Position
 
	2014 Base Salary 
Amount 
 

	Brian Wuebbels, Executive Vice President, Chief Administrative Officer & Chief Financial Officer   
	$455,000

	Carlos Domenech, President and Chief Executive Officer of TerraForm Power, Inc.
	$500,000

	Shaker Sadasivam, Executive Vice President; President—Semiconductor Materials   
	$600,000

	Dave Ranhoff, Senior Vice President, Solar Materials
	$381,900

The Compensation Committee adjusts these base salaries from time to time as the Committee deems appropriate each year, generally annually.  The Committee reviews and discusses the written performance appraisal for each executive officer with the Chief Executive Officer. The above information reflects the base salaries for our named executive officers approved by the Committee in February 2014.  
Incentive Awards. These executive officers are also eligible to participate in the Company’s incentive compensation plans as provided in the terms of such plans, including the Company’s short term incentive awards plan (which provides for cash incentive awards) and the Company’s long-term incentive awards plan (e.g., the Company’s 2001 Equity Incentive Plan and 2010 Amended and Restated Equity Incentive Plan). Such plans, and any forms of awards thereunder providing for material terms, are included as exhibits to the Form 10-K as appropriate. 
Pension Plan. These executive officers are also eligible to participate in the Company Pension Plan on the same terms as the Company’s other covered employees. Because he commenced employment after December 31, 2001, Messrs. Wuebbels, Domenech and Ranhoff are not covered by the SunEdison Pension Plan.
Relocation Payments. From time to time the Company makes payments to executive officers to cover relocation expenses.

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