SEC Contract Filing

Filing Date: 2015-08-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.1.5
<SEQUENCE>3
<FILENAME>ex101553115.htm
<DESCRIPTION>EXHIBIT 10.1.5
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<a name="sAD310B571AE38BC3B51B181BE8237CA3"></a><div></div><br><div style="line-height:174%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.1.5</font></div><div style="line-height:144%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:144%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Total Shareholder Return Performance Unit Award Program (the &#8220;Program&#8221;)</font></div><div style="line-height:144%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Performance Period July 22, 2015 &#8211; July, 2018</font></div><div style="line-height:144%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:144%;padding-left:0px;text-align:left;text-indent:0px;"><font style="text-align:left;font-family:inherit;font-size:12pt;font-weight:bold;padding-right:48px;">I.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Purpose of the Program</font></div><div style="line-height:144%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The purpose of the Program is to align AngioDynamics&#8217; executive compensation program with the interests of shareholders and to reinforce the concept of pay for performance by comparing the relative Total Shareholder Return (&#8220;TSR&#8221;) of shares of AngioDynamics&#8217; Common Stock (the &#8220;Common Stock&#8221;) to the TSR of a pre-defined peer group (the &#8220;Peer Group&#8221;) of companies over a three-year period beginning on July 22, 2015. </font></div><div style="line-height:144%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:144%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Program entails the grant of Performance Unit Awards, and the program shall be administered under the AngioDynamics 2004 Stock and Incentive Award Plan, as amended (the &#8220;Plan&#8221;). Terms not defined in this Program document but defined in the Plan shall have the meaning ascribed to such term in the Plan. The Program is established under section 5.II of the Plan and is intended to qualify for the performance-based compensation exception under Section 162(m) of the Internal Revenue Code (&#8220;Code&#8221;). </font></div><div style="line-height:144%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:144%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">II. &#160;&#160;&#160;&#160;Eligible Participants</font></div><div style="line-height:144%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Program covers members of the Executive Management Team (&#8220;EMT&#8221;) on the date that awards are granted under the Program as determined and in the amounts established by the Board of Directors (the &#8220;Board&#8221;).</font></div><div style="line-height:144%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Board may review Program eligibility criteria for Participants in the Program from time to time and may revise such criteria at any time, even within a Program year, with or without notice and within its sole discretion.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:144%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">III.</font></div></td><td style="vertical-align:top;"><div style="line-height:144%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Performance Share Units</font></div></td></tr></table><div style="line-height:144%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Pursuant to the Plan and this Program, the Board may, in its sole discretion, grant Performance Unit Awards to members of the EMT (the &#8220;Grant Date&#8221;). Each Performance Unit Award shall specify a target number of shares of Common Stock underlying the Performance Unit Award (the &#8220;Target Amount&#8221;). Shares of Common Stock underlying the Performance Unit Award granted under the Program (the &#8220;Performance Unit Awards&#8221;) shall be issued only upon satisfaction of both the performance vesting criteria described in this Section III and the payment eligibility criteria described in Section VII. The applicable performance criteria are based on the TSR of AngioDynamics&#8217; Common Stock relative to the TSR of the common stock of the companies in the Peer Group.</font></div><br><div><div style="line-height:138%;padding-bottom:13px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1</font></div><div style="line-height:138%;padding-bottom:13px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div>