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Sunlink Health Systems Inc. – ‘10-Q’ for 9/30/20 – ‘EX-10.1’

On:  Friday, 11/13/20, at 1:43pm ET   ·   For:  9/30/20   ·   Accession #:  1564590-20-53823   ·   File #:  1-12607

Previous ‘10-Q’:  ‘10-Q’ on 5/14/20 for 3/31/20   ·   Next:  ‘10-Q’ on 2/16/21 for 12/31/20   ·   Latest:  ‘10-Q’ on 2/13/24 for 12/31/23   ·   3 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/13/20  Sunlink Health Systems Inc.       10-Q        9/30/20   65:5.1M                                   ActiveDisclosure/FA

Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    387K 
 2: EX-10.1     Material Contract                                   HTML     22K 
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     23K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     23K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     21K 
 6: EX-32.2     Certification -- §906 - SOA'02                      HTML     20K 
13: R1          Document and Entity Information                     HTML     79K 
14: R2          Condensed Consolidated Balance Sheets               HTML    125K 
15: R3          Condensed Consolidated Balance Sheets               HTML     30K 
                (Parenthetical)                                                  
16: R4          Condensed Consolidated Statements of Operations     HTML    126K 
                and Comprehensive Earnings (Loss)                                
17: R5          Condensed Consolidated Statements Shareholders'     HTML     46K 
                Equity                                                           
18: R6          Condensed Consolidated Statements of Cash Flows     HTML     51K 
19: R7          Basis of Presentation                               HTML     23K 
20: R8          Business Operations                                 HTML     42K 
21: R9          Discontinued Operations                             HTML     80K 
22: R10         Shareholders' Equity                                HTML     22K 
23: R11         Revenue and Accounts Receivables                    HTML     50K 
24: R12         Intangible Assets                                   HTML     48K 
25: R13         Long-Term Debt                                      HTML     39K 
26: R14         Income Taxes                                        HTML     28K 
27: R15         Leases                                              HTML    179K 
28: R16         Accrued Sales Tax                                   HTML     22K 
29: R17         Commitments and Contingencies                       HTML     46K 
30: R18         Related Party Transactions                          HTML     22K 
31: R19         Asset Sales                                         HTML     21K 
32: R20         Financial Information by Segment                    HTML    106K 
33: R21         Basis of Presentation (Policies)                    HTML     23K 
34: R22         Discontinued Operations (Tables)                    HTML     83K 
35: R23         Revenue and Accounts Receivables (Tables)           HTML     50K 
36: R24         Intangible Assets (Tables)                          HTML     47K 
37: R25         Long-Term Debt (Tables)                             HTML     37K 
38: R26         Leases (Tables)                                     HTML    183K 
39: R27         Commitments and Contingencies (Tables)              HTML     44K 
40: R28         Financial Information by Segment (Tables)           HTML    101K 
41: R29         Business Operations - Additional Information        HTML     60K 
                (Detail)                                                         
42: R30         Discontinued Operations - Schedule of Discontinued  HTML     42K 
                Operations (Detail)                                              
43: R31         Discontinued Operations - Components of Pension     HTML     53K 
                Expense (Detail)                                                 
44: R32         Discontinued Operations - Additional Information    HTML     25K 
                (Detail)                                                         
45: R33         Shareholders' Equity - Additional Information       HTML     26K 
                (Detail)                                                         
46: R34         Revenue and Accounts Receivables - Summary of       HTML     37K 
                Revenue by Payor (Detail)                                        
47: R35         Revenue and Accounts Receivables - Additional       HTML     20K 
                Information (Detail)                                             
48: R36         Intangible Assets - Intangible Assets (Detail)      HTML     38K 
49: R37         Intangible Assets - Additional Information          HTML     21K 
                (Detail)                                                         
50: R38         Long-Term Debt - Summary of Long-Term Debt          HTML     30K 
                (Detail)                                                         
51: R39         Long-Term Debt (CARES Act Paycheck Protection Plan  HTML     26K 
                Loans) - Additional Information (Detail)                         
52: R40         Income Taxes - Additional Information (Detail)      HTML     37K 
53: R41         Lease - Components of Lease Cost and Rent Expense   HTML     35K 
                (Detail)                                                         
54: R42         Lease - Summary of Supplemental Balance Sheet       HTML     37K 
                Information Relating to Leases (Detail)                          
55: R43         Lease - Summary of Supplemental Cash Flow and       HTML     41K 
                Other Information Related to Leases (Detail)                     
56: R44         Lease - Summary of Non-cancellable Operating and    HTML     65K 
                Finance Leases (Detail)                                          
57: R45         Accrued Sales Tax - Additional Information          HTML     25K 
                (Details)                                                        
58: R46         Commitments and Contingencies - Schedule of         HTML     35K 
                Contractual Obligations, Commitments and                         
                Contingencies (Detail)                                           
59: R47         Related Party Transactions - Additional             HTML     25K 
                Information (Detail)                                             
60: R48         Asset Sales - Additional Information (Detail)       HTML     28K 
61: R49         Financial Information by Segment - Additional       HTML     20K 
                Information (Detail)                                             
62: R50         Financial Information by Segment - Segment          HTML     49K 
                Information (Detail)                                             
64: XML         IDEA XML File -- Filing Summary                      XML    112K 
63: EXCEL       IDEA Workbook of Financial Reports                  XLSX     62K 
 7: EX-101.INS  XBRL Instance -- ssy-20200930                        XML   1.32M 
 9: EX-101.CAL  XBRL Calculations -- ssy-20200930_cal                XML    156K 
10: EX-101.DEF  XBRL Definitions -- ssy-20200930_def                 XML    327K 
11: EX-101.LAB  XBRL Labels -- ssy-20200930_lab                      XML    874K 
12: EX-101.PRE  XBRL Presentations -- ssy-20200930_pre               XML    593K 
 8: EX-101.SCH  XBRL Schema -- ssy-20200930                          XSD    143K 
65: ZIP         XBRL Zipped Folder -- 0001564590-20-053823-xbrl      Zip     97K 


‘EX-10.1’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



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Exhibit 10.1

PERSONAL AND CONFIDENTIAL

 

 

October 1, 2020

 

 

Ms. Sheila Brockman

 

Dear Sheila:

 

Please accept this as a formal offer of employment by SunLink Health Systems, Inc. (the “Company” or “SunLink”) effective October 1, 2020 as Vice President of SunLink.  Your duties and responsibilities will be as assigned from time to time by SunLink’s CEO or Board of Directors. You will earn a salary of $13,000.00 per month or $156,000.00 on an annualized basis. While employed by SunLink you will devote your full working time to your duties as assigned to you by the Board of Directors of SunLink and/or CEO of the Company and conform to its corporate and other policies as the same exist and may be established or announced from time to time.  Your salary will be re‑evaluated annually to determine if any adjustments should be made. Your employment is at will and, as such, may be terminated by SunLink at any time for any or no reason upon notice to you in writing.

 

In addition to your base salary you will have a target incentive opportunity for each fiscal year (ending on June 30) in which you are employed during which the Board of Directors of SunLink authorizes an annual bonus plan for officers and key employees. Any such plan will be based on criteria which, together with amount, will be discretionary, as determined by the Compensation Committee and Board of Directors of SunLink.

 

During your employment, you may also participate in the SunLink stock option program if one is authorized by the Board of Directors of SunLink and you are selected as an eligible participant. The amount, terms and timing of any grants under such stock option program will be discussed with you personally and will be discretionary with the Compensation Committee and Board of SunLink.

 

You also are eligible while employed to participate in the Company’s medical, dental and disability programs, which are contributory in amounts that vary from year to year. For each full year of employment, you will earn vacation leave equal to 15 (fifteen) days, which may be carried over for up to one year in accordance with the Company’s vacation policy.  You are also be eligible to participate in the Company’s 401-k Retirement Plan to which the Company may at its discretion make a matching contribution of up to 50 cents per dollar for each dollar contributed by you to the Plan of up to a maximum of 6% of your base salary in any year.

 


You will be eligible for a 'change of control' severance payment in the amount of six months base salary if you are employed by SunLink or one of its subsidiaries at the time SunLink is sold as an entirety and you are not retained by SunLink, one of its subsidiaries or the buyer in the same or a different capacity for at least ninety days after the closing of such sale.

In consideration of the Company entering into this employment agreement, you agree to the Non-Disclosure, No Denigration and Non-Competition undertakings with SunLink and its subsidiaries and affiliates, substantially as provided in the attached Exhibit A.

 

SUNLINK HEALTH SYSTEMS, INC.

 

 

By: _________________________Date: _________________

Robert M. Thornton, Jr.

      CEO

 

 

 

ACCEPTED AND AGREED:

 

 

____________________________Date: __________________

Sheila G. Brockman

 


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:11/13/208-K
10/1/20
For Period end:9/30/20
 List all Filings 


3 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 9/28/23  Sunlink Health Systems Inc.       10-K        6/30/23   90:11M                                    Donnelley … Solutions/FA
 9/28/22  Sunlink Health Systems Inc.       10-K        6/30/22   90:11M                                    ActiveDisclosure/FA
 9/27/21  Sunlink Health Systems Inc.       10-K        6/30/21   92:10M                                    ActiveDisclosure/FA
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Filing Submission 0001564590-20-053823   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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