Registration of Securities Issued in a Business-Combination Transaction — Form S-4
Filing Table of Contents
Document/Exhibit Description Pages Size
1: S-4 Registration of Securities Issued in a 213 1.06M
Business-Combination Transaction
2: EX-2.1 Recapitalization Agreement 78 353K
3: EX-3.1 Articles of Amendment to the Articles of Inc. 6 51K
12: EX-3.10 By-Laws of Imbs, Inc. 20 78K
13: EX-3.11 Articles of Inc. of Inphynet Hospital Services Inc 6 52K
14: EX-3.12 By-Laws of Inphynet Hospital Services, Inc. 14 78K
15: EX-3.13 Certificate of Amendment to Certificate of Inc. 9 56K
16: EX-3.14 By-Laws of Inphynet Medical Management Institute 14 78K
17: EX-3.15 Articles of Incorporation of Karl G. Mangold, Inc. 6 49K
18: EX-3.16 By-Laws of Karl G. Mangold, Inc. 19 99K
19: EX-3.17 Amended and Restated Articles of Incorporation 4 44K
20: EX-3.18 Amendment to By-Laws of Charles L. Springfield Inc 21 92K
21: EX-3.19 Articles of Amendment to the Charter of Clinic Mgt 25 93K
4: EX-3.2 By-Laws of Alliance Corporation 6 55K
22: EX-3.20 By-Laws of Clinic Management Services, Inc. 4 45K
23: EX-3.21 Articles of Incorporation of Daniel & Yeager, Inc. 4 44K
24: EX-3.22 By-Laws of Daniel & Yeager, Inc. 9 58K
25: EX-3.23 Articles of Incorporation of Drs. Sheer, Et Al 16 78K
26: EX-3.24 Amended and Restated By-Laws of Drs. Sheer, Et Al 21 89K
27: EX-3.25 Articles of Amendment to the Charter 14 68K
28: EX-3.26 Amendment to By-Laws of Emergency Coverage Corp. 10 67K
29: EX-3.27 Restated Certificate of Incorporation 74 241K
30: EX-3.28 By-Laws of Emergency Physician Associates, Inc. 16 69K
31: EX-3.29 Articles of Incorporation of Emergency Physicians 3 44K
5: EX-3.3 Articles of Inc. of Emergency Mgmt. Specialist 3 43K
32: EX-3.30 By-Laws of Emergency Physicians of Manatee, Inc. 16 79K
33: EX-3.31 Certificate of Amendment to the Articles of Inc. 9 65K
34: EX-3.32 Code Regulations of Emergency Professional Service 10 65K
35: EX-3.33 Amended and Restated Charter of Emergicare Mgmt. 9 54K
36: EX-3.34 By-Laws of Emergicare Management, Incorporated 16 68K
37: EX-3.35 Articles of Inc. of Emsa Contracting Services Inc. 6 51K
38: EX-3.36 By-Laws of Emsa Contracting Services, Inc. 19 78K
39: EX-3.37 Articles of Amendment to Emsa Louisiana, Inc. 4 47K
40: EX-3.38 By-Laws of Emsa Louisiana, Inc. 19 78K
41: EX-3.39 Articles 0F Amendment to the Charter 3 41K
6: EX-3.4 By-Laws of Emergency Management Specialist, Inc. 6 55K
42: EX-3.40 By-Laws of Hospital Based Physician Services, Inc. 5 45K
43: EX-3.41 Articles of Inc. of Inphynet Anesthesia of Wv, Inc 5 48K
44: EX-3.42 By-Laws of Inphynet Anesthesia of West Virginia 8 58K
45: EX-3.43 Articles If Amendment to the Charter 6 46K
46: EX-3.44 By-Laws of Med: Assure Systems, Inc. 5 46K
47: EX-3.45 Articles of Inc. of Metroamerican Radiology, Inc. 5 46K
48: EX-3.46 By-Laws of Metroamerican Radiology, Inc. 13 76K
49: EX-3.47 Articles of Inc. of Neo-Med, Inc. 2 42K
50: EX-3.48 By-Laws of Neo-Med, Inc. 19 78K
51: EX-3.49 Articles of Inc. of Northwest Emergency Physicians 4 43K
7: EX-3.5 Articles of Incorporation of Emsa South Broward 2 39K
52: EX-3.50 By-Laws of Northwest Emergency Physicians, Inc. 7 59K
53: EX-3.51 Certificate of Amendment of Certificate of Inc. 10 59K
54: EX-3.52 By-Laws of Paragon Anesthesia, Inc. 20 78K
55: EX-3.53 Articles of Inc. of Paragon Contracting Services 7 50K
56: EX-3.54 By-Laws of Paragon Contracting Services, Inc. 20 78K
57: EX-3.55 Certificate of Amendment of Certificate of Inc. 3 45K
58: EX-3.56 By-Laws of Paragon Imaging Consultants, Inc. 8 59K
59: EX-3.57 Articles of Incorporation of Quantum Plus, Inc. 1 39K
60: EX-3.58 By-Laws of Quantum Plus, Inc. 16 92K
61: EX-3.59 Amendment and Restated Articles of Incorporation 11 57K
8: EX-3.6 By-Laws of Emsa South Broward, Inc. 7 60K
62: EX-3.60 Code Regulations of Reich, Seidelmann & Janicki Co 7 56K
63: EX-3.61 Articles of Inc. of Rosendorf, Marguiles, Et Al 70 240K
64: EX-3.62 By-Laws of Rosendorf, Marguiles, Et Al 14 91K
65: EX-3.63 Articles of Amendment to the Articles of Inc. 4 43K
66: EX-3.64 By-Laws of Sarasota Emergency Medical Consultants 18 78K
67: EX-3.65 Articles of Amendment to the Charter 7 49K
68: EX-3.66 By-Laws of Southeastern Emergency Physicians, Inc. 4 48K
69: EX-3.67 Articles of Amendment to the Charter 9 51K
70: EX-3.68 By-Laws of Southeastern Emergency Physicians 5 45K
71: EX-3.69 Charter of Team Health Financial Services, Inc. 2 40K
9: EX-3.7 Articles of Incorporation of Herschel Fischer, Inc 6 50K
72: EX-3.70 By-Laws of Team Health Financial Services, Inc. 8 66K
73: EX-3.71 Articles of Inc. of Team Radiology, Inc. 5 48K
74: EX-3.72 By-Laws of Team Radiology, Inc. 14 82K
75: EX-3.73 Certificate of Incorporation of Thbs, Inc. 2 42K
76: EX-3.74 By-Laws of Thbs, Inc. 8 64K
77: EX-3.75 Amended and Restated Articles of Incorporation 18 79K
78: EX-3.76 By-Laws of the Emergency Associates of Medicine 11 70K
79: EX-3.77 Articles of Inc. of Virginia Emergency Physicians 3 44K
80: EX-3.78 Amended and Restated By-Laws of Virginia Emergency 25 101K
81: EX-3.79 Articles of Incorporation of Emsa Joliet, Inc. 7 48K
10: EX-3.8 By-Laws of Herschel Fischer, Inc. 19 117K
82: EX-3.80 By-Laws of Emsa Joliet, Inc. 19 78K
83: EX-3.81 Certificate of Limited Partnership 2 43K
84: EX-3.82 Certificate of Limited Partnership 1 38K
85: EX-3.83 Certificate of Limited Partnership 1 40K
86: EX-3.84 Partnership Agreement 3 45K
87: EX-3.85 Partnership Agreement 2 42K
11: EX-3.9 Articles of Incorporation of Imbs, Inc. 6 52K
88: EX-4.1 Indenture 120 504K
89: EX-5.1 Opinion of Kirkland & Ellis 5 49K
90: EX-9.1 Stockholders Agreement 17 97K
91: EX-9.2 Securityholders Agreement 22 116K
92: EX-10.1 Registration Rights Agreement 25 118K
101: EX-10.10 Amendment and Restatement 19 89K
102: EX-10.11 Lease Agreement 30 122K
103: EX-10.12 Lease Agreement 26 109K
93: EX-10.2 Purchase Agreement 46 168K
94: EX-10.3 Equity Deferred Compensation Plan 14 87K
95: EX-10.4 Management Services Agreement 6 52K
96: EX-10.5 Registration Agreement 18 103K
97: EX-10.6 Registration Agreement 22 121K
98: EX-10.7 Trust Agreement 10 58K
99: EX-10.8 Credit Agreement 269 896K
100: EX-10.9 Plan Provision Nonqualified Excess Deferral Plan 7 58K
104: EX-12.1 Statement of Ratio of Earnings to Fixed Charges 1 38K
105: EX-21.1 Subsidiaries of the Registrant 2 44K
106: EX-23.1 Consent of Ernst & Young, LLP. 1 38K
107: EX-25.1 Statement of Eligibility of Trustee on Form T-1 14 84K
108: EX-27.1 Financial Data Schedule 1 41K
109: EX-99.1 Form of Letter of Transmittal 9 81K
110: EX-99.2 Form of Letter of Notice of Guaranteed Delivery 4 51K
111: EX-99.3 Form of Tender Instructions 2 41K
EXHIBIT 10.3
DRAFT 3/5/99
TEAM HEALTH, INC.
EQUITY DEFERRED COMPENSATION PLAN
(Effective January 25, 1999)
CERTIFICATE
I, _______________________, the_____________________ of Team Health,
Inc., do hereby certify that the attached is a true and correct copy of the Team
Health, Inc. Equity Deferred Compensation Plan as in effect on January 25, 1999.
By: ____________________________________
Title: ___________________________________
Dated this ____ day of February, 1999.
TEAM HEALTH, INC.
EQUITY DEFERRED COMPENSATION PLAN
(Effective January 25, 1999)
Table of Contents
[Enlarge/Download Table]
ARTICLE I - Introduction..........................................................................................1
1.1 Name............................................................................................1
1.2 Purpose.........................................................................................1
1.3 Administration of the Plan......................................................................1
ARTICLE II - Definitions..........................................................................................1
ARTICLE III - Plan Participation..................................................................................3
3.1 Eligibility.....................................................................................3
3.2 Participation...................................................................................3
ARTICLE IV - Deferral Contributions...............................................................................3
4.1 Deferral Contributions..........................................................................3
4.2 Deferral Contributions Account..................................................................3
ARTICLE V - Earnings on Account Balances..........................................................................3
5.1 Investments.....................................................................................3
5.2 Crediting of Deferrals..........................................................................4
ARTICLE VI - Establishment of Trust...............................................................................4
6.1 Establishment of Trust..........................................................................4
6.2 Status of Trust.................................................................................4
ARTICLE VII - Distribution of Account Balances....................................................................4
7.1 Vesting.........................................................................................4
7.2 Timing of Distributions.........................................................................4
7.3 Form of Distribution of Accounts................................................................5
7.4 Involuntary Distributions.......................................................................5
7.5 Designation of Beneficiaries....................................................................5
ARTICLE VIII - Amendment and Termination..........................................................................5
8.1 Amendment.......................................................................................5
8.2 Plan Termination................................................................................5
ARTICLE IX - General Provisions...................................................................................5
9.1 Non-Alienation of Benefits......................................................................6
9.2 Withholding for Taxes...........................................................................6
i
[Enlarge/Download Table]
9.3 Immunity of Committee Members...................................................................6
9.4 Plan Not to Affect Employment Relationship......................................................6
9.5 Assumption of Company Liability.................................................................6
9.6 Subordination of Rights.........................................................................6
9.7 Notices.........................................................................................6
9.8 Gender and Number; Headings.....................................................................7
9.9 Controlling Law.................................................................................7
9.10 Successors......................................................................................7
9.11 Severability....................................................................................7
9.12 Action by Company...............................................................................7
9.13 Review of Benefit Determinations................................................................7
ii
TEAM HEALTH, INC.
EQUITY DEFERRED COMPENSATION PLAN
ARTICLE I
Introduction
1.1 Name. The name of this plan shall be the "Team Health, Inc. Equity
Deferred Compensation Plan." Unless otherwise expressly provided herein, the
capitalized terms used in this Plan shall have the meanings set forth in Article
II.
1.2 Purpose. This Plan shall constitute an unfunded nonqualified
deferred compensation arrangement established for the purpose of providing
deferred compensation to a select group of management or highly compensated
employees (as defined for purposes of Title I of ERISA) of the Company.
1.3 Administration of the Plan. The Plan shall be administered by the
Committee. The duties and authority of the Committee under the Plan shall
include (i) the interpretation of the provisions of the Plan, (ii) the adoption
of any rules and regulations which may become necessary or advisable in the
operation of the Plan, (iii) the making of such determinations as may be
permitted or required pursuant to the Plan, and (iv) the taking of such other
actions as may be required for the proper administration of the Plan in
accordance with its terms. Any decision of the Committee with respect to any
matter within the authority of the Committee shall be final, binding and
conclusive upon the Company and each Participant, former Participant, designated
beneficiary, and each person claiming under or through any Participant or
designated beneficiary; and no additional authorization or ratification by the
Board of Directors or stockholders of the Company shall be required. Any action
taken by the Committee with respect to any one or more Participants shall not be
binding on the Committee as to any action to be taken with respect to any other
Participant. A member of the Committee may be a Participant, but no member of
the Committee may participate in any decision directly affecting his rights or
the computation of his benefits as an individual Participant under the Plan.
Each determination required or permitted under the Plan shall be made by the
Committee in the sole and absolute discretion of the Committee.
ARTICLE II
Definitions
2.1 "Account" means a bookkeeping account maintained by the Company for
a Participant under the Plan.
2.2 "Account Balance" means the value, as of a specified date, of any
of the Accounts of a Participant.
2.3 "Affiliate" of any Person means any other Person, directly or
indirectly controlling, controlled by or under common control with such Person.
2.4 "Code" means the Internal Revenue Code of 1986, as amended.
2.5 "Committee" means the persons who have been designated by the Board
of Directors of the Company to administer the Plan. If no persons have been
designated by the Board of Directors of the Company to administer the Plan, the
full Board of Directors of the Company shall constitute the Committee for
purposes of this Plan.
2.6 "Company" means Team Health, Inc., a Tennessee corporation, or its
successors or assigns under the Plan.
2.7 "Deferral Contributions" means the contributions made on behalf of
a Participant pursuant to Section 4.1 of this Plan.
2.8 "Deferral Contributions Account" means the account maintained on
behalf of each Participant which will represent the amount of the Deferral
Contributions made on behalf of such Participant pursuant to Section 4.1 of the
Plan.
2.9 "Effective Date" means January 25, 1999.
2.10 "ERISA" means the Employee Retirement Income Security Act of 1974,
as amended.
2.11 "Participant" means any eligible employee of the Company who is
participating under the Plan pursuant to Article III.
2.12 "Permitted Investment" means initially shares of Class A Preferred
Stock, par value $.01 per share, of the Company, and thereafter such funds,
investments or other assets of equal fair market value as may be approved by the
Committee from time to time for purposes of this Plan.
2.13 "Person" means an individual, a partnership, a corporation, a
limited liability company, an association, a joint stock company, a trust, a
joint venture, an unincorporated organization and a governmental entity or any
department, agency or political subdivision thereof.
2.14 "Plan" means this "Team Health, Inc. Equity Deferred Compensation
Plan," as amended from time to time.
2.15 "Plan Year" means the calendar year; provided, however, that the
initial Plan Year shall be the period from January 25, 1999 through December 31,
1999.
2.16 "Sale of the Company" means the sale of the Company to an
independent third party or group of independent third parties (as the term
"group" is used under the Securities Exchange Act of 1934, as amended) pursuant
to which such party or parties acquire (i) capital stock of the Company
possessing the voting power under normal circumstances to elect a majority of
the Company's Board of Directors (whether by merger, consolidation, sale or
transfer of the Company's capital stock) or (ii) more than 50% of the Company's
assets determined on a consolidated basis.
2
ARTICLE III
Plan Participation
3.1 Eligibility. The Committee shall designate, in writing, each person
that is eligible to receive a benefit under this Plan (a "Participant"). The
initial Participants shall be the executives of the Company listed on Exhibit A
attached hereto. Only those employees who are in a select group of management or
are highly compensated (within the meaning of Title I of ERISA) may be
designated as eligible to participate under this Plan.
3.2 Participation. Each employee of the Company who has been designated
by the Committee as eligible to participate in this Plan for a Plan Year shall
become a Participant hereunder by timely executing a deferral election form with
the Committee in accordance with the requirements of Article IV.
ARTICLE IV
Deferral Contributions
4.1 Deferral Contributions. Each employee of the Company who is
eligible to participate in this Plan may elect to reduce his compensation by an
amount less than or equal to the amount of any bonus to be paid to such
Participant as a result of a Sale of the Company. Each Participant desiring to
defer compensation hereunder shall file an election with the Committee in such
form and at such time as the Committee may determine. The completion of such an
election shall evidence the Participant's authorization of the Company to reduce
his Compensation and shall thereafter be irrevocable.
4.2 Deferral Contributions Account. The Committee shall establish and
maintain an account (the "Deferral Contributions Account") with respect to each
Participant who has elected to make Deferral Contributions under this Article
IV. The Participant's Deferral Contributions Account shall be a bookkeeping
account maintained by the Company and shall reflect the amount of compensation
the Participant has elected to defer under the Plan. The amount of any deemed
investment earnings and losses on the amounts reflected in a Participant's
Deferral Contributions Account shall be credited or charged to his Deferral
Contributions Account in accordance with Article V.
ARTICLE V
Earnings on Account Balances
5.1 Investments.
(a) Permitted Investments. The Committee may designate from
time to time, that all or a portion of a Participant's Accounts be deemed to be
invested in one or more Permitted Investments. Such amounts shall be deemed to
be invested as of such dates as may be specified by the Committee.
3
(b) Receipts. Each Account shall be deemed to receive all
interest, dividends, earnings and other property which would have been received
with respect to a Permitted Investment deemed to be held in such Account if such
Account was actually invested in such Permitted Investment. Cash deemed received
with respect to a Permitted Investment shall be credited to the Account as of
the date it would have been available for reinvestment if the Account was
actually invested in the Permitted Investment.
(c) Actual Investment Not Required. The Company need not
actually make any Permitted Investment. If the Company should from time to time
make any investment similar to a Permitted Investment, such investment shall be
solely for the Company's own account and the Participant shall have no right,
title or interest therein. Accordingly, each Participant is solely an unsecured
creditor of the Company with respect to any amount distributable to him under
the Plan.
5.2 Crediting of Deferrals. The Company shall credit all Deferral
Contributions to a Participant's Deferral Contributions Account within a
reasonable period following the date on which such deferred amounts would have
been paid to the Participant if the Participant had not made a deferral election
under Article IV.
ARTICLE VI
Establishment of Trust
6.1 Establishment of Trust. The Company may, in its sole discretion,
establish a grantor trust (as described in Section 671 of the Code) for the
purpose of accumulating assets to provide for the obligations hereunder. The
assets and income of such trust shall be subject to the claims of the general
creditors of the Company. The establishment of such a trust shall not affect the
Company's liability to pay benefits hereunder except that any such liability
shall be offset by any payments actually made to a Participant under such a
trust. In the event such a trust is established, the amount to be contributed
thereto shall be determined by the Company and the investment of such assets
shall be made in accordance with the trust document.
6.2 Status of Trust. Participants shall have no direct or secured claim
in any asset of the trust or in specific assets of the Company and will have the
status of general unsecured creditors of the Company for any amounts due under
this Plan. The assets and income of the trust will be subject to the claims of
the Company's creditors as provided in the trust document.
ARTICLE VII
Distribution of Account Balances
7.1 Vesting. A Participant's Account Balance shall be 100% vested and
nonforfeitable and shall be distributable to the Participant or, in the event of
the Participant's death, to his beneficiary, as provided in Section 7.2 below,
subject however, to the provisions of this Plan
4
(including those provisions limiting a Participant's rights to those of an
unsecured creditor of the Company).
7.2 Timing of Distributions.
(a) General Rule. Each Participant's Account Balance shall be
distributable as soon as administratively practicable following the earliest of:
(i) December 31, 2009;
(ii) At the time provided in Section 7.4;
(iii) Such Participant's termination of employment
because of death or disability; provided that, in the event that the
Company has established a grantor trust under Section 6.1, the assets
of which consist entirely or in part of securities issued by the
Company (or an Affiliate of the Company), payment under this subsection
(iii) will not be made unless and until such time as the Company (or
such Affiliate) redeems a sufficient amount of such securities from the
grantor trust so that the redemption proceeds are equal to the
Participant's Account Balance, as long as the purpose of such
redemption is to provide cash proceeds to make such distribution to
such Participant. If the Company (or such Affiliate) redeems some
securities from the grantor trust pursuant to this subsection (iii),
but not a sufficient number to enable the trustee to distribute to the
Participant his entire Account Balance, and the purpose of such
redemption is to provide cash proceeds to make such distribution to
such Participant, then the Company will direct the trustee to make a
payment equal to such redemption proceeds, and payment of the balance
of the Participant's Account Balance will be deferred until otherwise
provided hereunder or until the Company (or such Affiliate) redeems an
additional amount of such securities from the grantor trust for the
purpose of providing cash proceeds to make such distribution to such
Participant. For purposes of this subsection (iii), a Participant's
termination of employment will be due to disability if, in the
determination of the Committee, the Participant was unable to perform
the principal duties of his or her position because of a physical or
mental disease, condition or impairment; or
(iv) In the event that the Company has established a
grantor trust under Section 6.1, the assets of which consist entirely
or in part of securities issued by the Company (or an Affiliate of the
Company), and if any of such securities are redeemed by the Company (or
such Affiliate) and the purpose of such redemption is not to provide
cash proceeds to make a distribution to any particular Participant
(whether pursuant to subsection (iii) or otherwise), a pro rata portion
of such redemption proceeds, up to the amount of his Account Balance,
will be paid to each Participant, with his share being the proportion
that his Account Balance hereunder bears to the aggregate Account
Balances of all Participants.
(b) Election to Defer. Notwithstanding subsection (a) above,
at any time before the first to occur of the events listed in subsection (i) to
(iv) of subsection (a), the Participant may elect to defer the time when his
Account Balance would be payable to him to a subsequent date
5
(not later than the first business day of the calendar year following the
calendar year of his retirement or other termination of employment with the
Company). If such election becomes effective as provided in the next sentence,
then the Participant's Account Balance will be payable at time specified in such
election. The Participant's election under this subsection (b) will become
effective only if the Participant remains an Employee of the Company for at
least one year after making such election.
Notwithstanding subsections (a) and (b), as provided in Section 7.4, the
Committee in its discretion (which the Committee will not be obligated to
exercise in any instance or instances) may accelerate the distribution of the
Account Balance of any Participant who has terminated employment to such date as
the Committee determines; and such distribution will be made on or as soon as
administratively practicable following such date.
7.3 Form of Distribution of Accounts.
(a) Available Forms. Each Participant's Account Balance will
be distributed to him in cash (and not in kind) in one of the following forms,
as elected by the Participant:
(i) A lump sum payment; or
(ii) A series of annual installment payments of two
or more but not more than ten installments. If a Participant elects
installment payments, each installment will be a fraction of the
Participant's Account Balance as of immediately prior to such
installment payment, the numerator of which is one, and the denominator
of which is the total number of remaining installment payments
(including the installment payment then being made).
The lump sum payment or the first installment payment will be made on the date
provided in Section 7.2.
(b) Elections. A Participant's initial election of a form of
payment will be made at the time of his initial election to defer compensation
hereunder. Thereafter, a Participant may make one subsequent change of election
by filing with the Committee a written change in the form of payment of his
Account Balance. A Participant's change of election under this subsection (b)
will become effective only if the Participant remains an employee of the Company
for at least one year after making such change.
7.4 Involuntary Distributions. Notwithstanding the foregoing provisions
of this Article VII, the Committee may on its own initiative authorize and
direct the Company to distribute to any Participant (or to a designated
beneficiary in the event of the Participant's death) all or any portion of the
Participant's Account Balance. Such payment would be specifically authorized and
directed in the event that there is a change in tax law, a published ruling or
similar announcement issued by the Internal Revenue Service, a regulation issued
by the Secretary of the Treasury, a decision by a court of competent
jurisdiction involving a Participant or a beneficiary, or a closing agreement
made under Section 7121 of the Code that is approved by the Internal Revenue
Service
6
and involves a Participant, and the Committee determines that a Participant has
or will recognize income for federal income tax purposes with respect to amounts
deferred under this Plan prior to the time such amounts otherwise would be paid
to the Participant.
7.5 Designation of Beneficiaries. Each Participant may name any person
(who may be named concurrently, contingently or successively) to whom the
Participant's Account Balance under the Plan is to be paid if the Participant
dies before such Account Balance is fully distributed. Each such beneficiary
designation will revoke all prior designations by the Participant, shall not
require the consent of any previously named beneficiary, shall be in a form
prescribed by or otherwise acceptable to the Committee and will be effective
only when filed with the Committee during the Participant's lifetime. If a
Participant fails to designate a beneficiary before his death, as provided
above, or if the beneficiary designated by a Participant dies before the date of
the Participant's death or before complete payment of the Participant's Account
Balance, the Committee, in its discretion, may pay the Participant's Account
Balance to either (i) one or more of the Participant's relatives by blood,
adoption or marriage and in such proportions as the Committee determines, or
(ii) the legal representative or representatives of the estate of the last to
die of the Participant and his designated beneficiary.
ARTICLE VIII
Amendment and Termination
8.1 Amendment. The Company, in its discretion, shall have the right to
amend the Plan from time to time, except that no such amendment shall, without
the consent of the Participant to whom deferred compensation has been credited
to any Account under this Plan, adversely affect the right of the Participant
(or his beneficiary) to receive payments of such deferred compensation under the
terms of this Plan.
8.2 Plan Termination. The Company may, in its discretion, terminate the
Plan at any time, however, no termination of this Plan shall alter the right of
a Participant (or his beneficiary) to payments of deferred compensation
previously credited to such Participant's Accounts under the Plan.
Notwithstanding the preceding sentence or Section 8.1, in connection with the
Plan's termination (or in any amendment adopted in connection with such
termination), as provided in Section 7.4, the Company may provide that each
Participant's Account Balance under the Plan will be distributed as soon as may
be practicable to the Participant (or, if applicable, beneficiary).
ARTICLE IX
General Provisions
9.1 Non-Alienation of Benefits. A Participant's rights to the amounts
credited to his Accounts under the Plan shall not be grantable, transferable,
pledgeable or otherwise assignable, in whole or in part, by the voluntary or
involuntary acts of any person, or by operation of law, and
7
shall not be liable or taken for any obligation of such person. Any such
attempted grant, transfer, pledge or assignment shall be null and void and
without any legal effect.
9.2 Withholding for Taxes. Notwithstanding anything contained in this
Plan to the contrary, the Company shall withhold from any distribution made
under the Plan such amount or amounts as may be required for purposes of
complying with the tax withholding provisions of the Code or any State income
tax act for purposes of paying any income, estate, inheritance or other tax
attributable to any amounts distributable or creditable under the Plan.
9.3 Immunity of Committee Members. The members of the Committee may
rely upon any information, report or opinion supplied to them by any officer of
the Company or any legal counsel, independent public accountant or actuary, and
shall be fully protected in relying upon any such information, report or
opinion. No member of the Committee shall have any liability to the Company or
any Participant, former Participant, designated beneficiary, person claiming
under or through any Participant or designated beneficiary or other person
interested or concerned in connection with any decision made by such member of
the Committee pursuant to the Plan which was based upon any such information,
report or opinion if such member of the Committee relied thereon in good faith,
or for any other action or omission of the Committee member made in good faith
in connection with the operation of this Plan.
9.4 Plan Not to Affect Employment Relationship. Neither the adoption of
the Plan nor its operation shall in any way affect the right and power of the
Company to dismiss or otherwise terminate the employment or change the terms of
the employment or amount of compensation of any Participant at any time for any
reason or without cause. By accepting any payment under this Plan, each
Participant, former Participant, designated beneficiary and each person claiming
under or through such person, shall be conclusively bound by any action or
decision taken or made under the Plan by the Committee.
9.5 Assumption of Company Liability. The obligations of the Company
under the Plan may be assumed by any affiliate of the Company, in which case
such affiliate shall be obligated to satisfy all of the Company's obligations
under the Plan and the Company shall be released from any continuing obligation
under the Plan. At the Company's request, a Participant or designated
beneficiary shall sign such documents as the Company may require in order to
effectuate the purposes of this Section.
9.6 Subordination of Rights. At the Committee's request, each
Participant or designated beneficiary shall sign such documents as the Committee
may require in order to subordinate such Participant's or designated
beneficiary's rights under the Plan to the rights of such other creditors of the
Company as may be specified by the Committee.
9.7 Notices. Any notice required to be given by the Company or the
Committee hereunder shall be in writing and shall be delivered in person or by
registered or certified mail, return receipt requested. Any notice given by
registered mail shall be deemed to have been given upon the date of registration
or certification by the Post Office, correctly addressed to the last known
address
8
(as appearing in the records of the Committee or the Company) of the person to
whom such notice is to be given.
9.8 Gender and Number; Headings. Wherever any words are used herein in
the masculine gender they shall be construed as though they were also used in
the feminine gender in all cases where they would so apply; and wherever any
words are used herein in the singular form they shall be construed as though
they were also used in the plural form in all cases where they would so apply.
Headings of sections and subsections of the Plan are inserted for convenience of
reference and are not part of the Plan and are not to be considered in the
construction thereof.
9.9 Controlling Law. The Plan shall be construed in accordance with the
laws of the State of Delaware, to the extent not preempted by any applicable
federal law.
9.10 Successors. The Plan is binding on all persons entitled to
benefits hereunder and their respective heirs and legal representatives, on the
Committee and its successor and on any Employer and its successor, whether by
way of merger, consolidation, purchase or otherwise.
9.11 Severability. If any provision of the Plan shall be held illegal
or invalid for any reason, such illegality or invalidity shall not affect the
remaining provisions of the Plan, and the Plan shall be enforced as if the
invalid provisions had never been set forth therein.
9.12 Action by Company. Any action required or permitted by the Company
under the Plan shall be by resolution of its Board of Directors or by a duly
authorized committee of its Board of Directors, or by a person or persons
authorized by resolution of its Board of Directors or such committee.
9.13 Review of Benefit Determinations. If a claim for benefits made by
a Participant or his or her beneficiary is denied, the Committee shall within 90
days (or 180 days if special circumstances require an extension of time) after
the claim is made furnish the person making the claim with a written notice
specifying the reasons for the denial. Such notice shall also refer to the
pertinent Plan provisions on which the denial is based, describe any additional
material or information necessary for properly completing the claim and explain
why such material or information is necessary, and explain the Plan's claim
review procedures. If requested in writing, the Committee shall afford each
claimant whose claim has been denied a full and fair review of the Committee's
decision and, within 60 days (120 days if special circumstances require
additional time) of the request for reconsideration of the denied claim, the
Committee shall notify the claimant in writing of the Committee's final
decision.
* * * * *
9
EXHIBIT A
Initial Participants
Randall Aguiar
Jeffrey Bettinger, M.D.
John Craig
Randal Dabbs, M.D.
James George, M.D.
Richard Gillespie, M.D.
Michael Hatcher
James Hillman, M.D.
Mark Jergens
David Jones
Gerard LaSalle, M.D.
William R. Machuga
H. Lynn Massingale, M.D.
Mary Pastick
Neil Principe
James Rybak, M.D.
Monty Scott
Stephen Sherlin
John Staley
Michael Weiner
10
Dates Referenced Herein and Documents Incorporated by Reference
| Referenced-On Page |
|---|
| This ‘S-4’ Filing | | Date | | First | | Last | | | Other Filings |
|---|
| |  |
| | 12/31/09 | | 9 |
| | 12/31/99 | | 6 | | | | | 10-K |
| Filed on: | | 6/9/99 |
| | 1/25/99 | | 1 | | 6 |
| List all Filings |
↑Top
Filing Submission 0000950123-99-005522 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
Copyright © 2024 Fran Finnegan & Company LLC – All Rights Reserved.
About — Privacy — Redactions — Help —
Sat., May 11, 8:56:08.2am ET 