SEC Contract Filing

Filing Date: 2021-03-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.16
<SEQUENCE>3
<FILENAME>exhibit1016-202010xk.htm
<DESCRIPTION>EX-10.16
<TEXT>
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<title>Document</title></head><body><div id="if5bbdfb6e9a140c68a864aaefd811567_1"></div><div style="min-height:50.4pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.891%"><tr><td style="width:1.0%"></td><td style="width:32.134%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:65.666%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:0.1pt"><img alt="thryv1.jpg" src="thryv1.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:107px"></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%">Exhibit 10.16</font></td></tr></table><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div></div><div style="margin-top:0.15pt;text-align:justify"><font><br></font></div><div style="padding-right:-1pt;text-align:justify;text-indent:-7.05pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div style="margin-top:0.25pt;text-align:justify"><font style="color:#004990;font-family:'Arial',sans-serif;font-size:16pt;font-weight:700;line-height:133%">2020 SHORT TERM INCENTIVE PLAN (&#8220;STIP&#8221;) </font></div><div style="margin-top:0.95pt;padding-right:-1pt;text-align:justify"><font style="color:#004990;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:164%">Effective January 1, &#8211; December 31, 2020</font></div><div style="margin-top:0.95pt;padding-right:-1pt;text-align:justify"><font><br></font></div><div style="margin-bottom:10pt;padding-right:-1pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:113%">PURPOSE</font></div><div style="padding-right:-0.2pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:116%">The Short Term Incentive Plan (the &#8220;Plan&#8221; or &#8220;STIP&#8221;) is designed to reward eligible non-sales, non-bargained for employees for achievement of pre-established corporate performance measures and individual performance objectives that are assigned a specific weight according to their importance in the Company&#8217;s business plan. This Plan, for eligible employees, covers the period from January 1, 2020 through December 31, 2020.</font></div><div style="padding-right:-0.2pt;text-align:justify"><font><br></font></div><div style="padding-right:-0.2pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:116%">This Plan supersedes any prior incentive plan version and cancels any document that provides information contrary to the information contained in this Plan version. The Company may terminate the Plan, amend or modify the Plan in any respect, at any time, and without notice. In addition, incentive awards are not &#8220;earned&#8221; until the events described in the Administration section occur. </font></div><div style="padding-right:-1pt;text-align:justify"><font><br></font></div><div style="margin-bottom:10pt;padding-right:-1pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:113%">ELIGIBILITY</font></div><div style="margin-top:1.9pt;padding-right:-0.2pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">All regular full-time and part-time non-sales, non-bargained for employees who are employed during the calendar year, and who commence employment with the Company </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">before</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> October 1, 2020, and who do not participate in another incentive plan currently in operation, are potentially eligible to participate in the Plan. To be eligible to earn and receive payment of any incentive award, the participant must be&#58;</font></div><div style="margin-top:1.9pt;padding-left:18pt;padding-right:-0.2pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">1.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:9.67pt">Classified as a permanent employee&#59;</font></div><div style="padding-left:18pt;padding-right:-0.2pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">2.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:9.67pt">Employed with the Company during some portion of the period for which the award is being measured, and initially hired by the Company before October 1, 2020&#59; and</font></div><div style="padding-left:18pt;padding-right:-0.2pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">3.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-siz