CVS » Topics » Agreement

This excerpt taken from the CVS 8-K filed Sep 11, 2009.
Agreement”) is to confirm the agreement concerning the purchase of the Notes from the Company by the Underwriters.

1.           Representations, Warranties and Agreements of the Company.  The Company represents and warrants to, and agrees with, each Underwriter that:
 
(a)         An “automatic shelf registration statement” (as defined in Rule 405 under the Securities Act of 1933, as amended (the “
This excerpt taken from the CVS 8-K filed Mar 13, 2009.
Agreement”) between the Company and you, as Representatives of the several underwriters named in Schedule I thereto (the “
This excerpt taken from the CVS 8-K filed Sep 10, 2008.
Agreement”) is to confirm the agreement concerning the purchase of the Notes from the Company by the Underwriters.

1.           Representations, Warranties and Agreements of the Company.  The Company represents and warrants to, and agrees with, each Underwriter that:
 
(a)         An “automatic shelf registration statement” (as defined in Rule 405 under the Securities Act of 1933, as amended (the “
This excerpt taken from the CVS 8-K filed Aug 13, 2008.
Agreement”).
 
Notwithstanding any other provision of the Agreement, Merger Subsidiary shall not be required to accept for payment or pay for any Shares, and, only after complying with any obligation to extend the expiration date of the Offer pursuant to Section 2.01(a) of the Agreement, may terminate the Offer, if:
 
(a)        prior to the expiration of the Offer, (i) the Minimum Condition shall not have been satisfied or (ii) the applicable waiting period (and any extension thereof) under the HSR Act shall not have expired or been terminated; or
 
(b)        at any time on or after the date of the Agreement and prior to the expiration of the Offer, any of the following conditions exists:
 
(i)                 there shall be instituted or pending any action or proceeding (or any investigation or other inquiry that is reasonably likely to result in such action or proceeding) by any Governmental Authority challenging or seeking to make illegal, to delay materially or otherwise directly or indirectly to restrain or prohibit the making of the Offer, the acceptance for payment of or payment for some or all of the Shares by Parent or Merger Subsidiary or the consummation of the Merger;
 
(ii)                 there shall have been any action taken, or any Applicable Law shall have been proposed, enacted, enforced, promulgated, issued or deemed applicable to the Offer or the Merger, by any Governmental Authority, other than the application of the waiting period provisions of the HSR Act to the Offer or the Merger, that would or is reasonably likely, directly or indirectly, to make illegal, to delay materially or otherwise directly or indirectly to restrain or prohibit the making of the Offer, the acceptance for payment of or payment for some or all of the Shares by Parent or Merger Subsidiary or the consummation of the Merger;
 
(iii)                 (A) the representations and warranties of the Company contained in any of Sections 5.01, 5.02, 5.03, 5.05(a) or 5.21 of the Agreement shall not be true and correct in all material respects at and as of immediately prior to the expiration of the Offer as if made at and as of such time (other than such representation and warranty that by their terms
 

 
address matters only as of another specified time, which shall be true and correct in all material respects only as of such time) or (B) the other representations and warranties of the Company contained in the Agreement (disregarding all materiality and Company Material Adverse Effect qualifications contained therein) shall not be true and correct at and as of immediately prior to the expiration of the Offer as if made at and as of such time (other than representations and warranties that by their terms address matters only as of another specified time, which shall be true and correct only as of such time), except, in the case of clause (B) only, for such matters as have not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect;
 
(iv)                 the Company shall have breached or failed to perform in all material respects any of its covenants or obligations to be performed or complied with by it under the Agreement prior to such time;
 
(v)                 the Company shall have failed to deliver to Parent a certificate signed by an executive officer of the Company dated as of the date on which the Offer expires certifying that the conditions specified in clauses (iii) and (iv) of this paragraph (b) do not exist; or
 
(vi)                 the Agreement shall have been terminated in accordance with its terms.
 
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This excerpt taken from the CVS 10-Q filed Jul 31, 2008.

AGREEMENT

AGREEMENT made and executed unto as of the 30th day of July, 2008 by and between CVS Caremark Corporation, a Delaware corporation (together with its successors and assigns, the “Company”) and Christopher Bodine (the “Executive”).

WHEREAS, the Company and the Executive have previously announced the Executive’s transition to a retirement; and

WHEREAS, both the Company and the Executive wish to memorialize various matters relating to such transition.

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, the receipt of which is mutually acknowledged, the Company and the Executive agree as follows:

A. Reference is made to the 2001 employment agreement by and between CVS Corporation and Executive (such binding employment agreement, as previously amended, being herein referred to as the “Employment Agreement”). Pursuant to Section 22 of the Employment Agreement, the Company and Executive hereby amend the Employment Agreement as follows, effective as of the date of this Agreement.

 

  1. Section 1 is amended by deleting Sections 1(k) and 1(l) and replacing all references to “Section 2(a)” with references to “Section 2”.

 

  2. Section 2 is amended by deleting such section in its entirety and replacing it with the following:

 

       The term of Executive’s employment under this Agreement (the “Term of Employment”) shall commence on the date of this Agreement (the “Effective Date”) and, unless terminated earlier in accordance herewith, shall end on June 21, 2010.

 

  3. Section 3(a) is amended by replacing the first sentence with the following:

Executive shall serve as Special Advisor to the Chief Executive Officer of the Company (the “CEO”) and, in such capacity, shall perform such duties as are assigned to Executive from time to time by the CEO.

 

  4. Section 4 is amended by adding the following at the end of such section:

Notwithstanding the foregoing, during the period commencing on January 1, 2009 and ending May 31, 2009, Executive’s Base Salary shall be $29,167.00 per month


 

and during the period commencing on June 1, 2009 and ending on June 21, 2010, Executive’s Base Salary shall be $2,500.00 per month.

 

  5. Section 5 is amended by deleting the period at the end of the first sentence and adding the following:

; provided, however, that (i) the target annual incentive award opportunity for the 2008 calendar year shall be 125% of Base Salary, (ii) the target incentive annual award opportunity for the 2009 calendar year shall be 100% of Base Salary paid during such year, and (iii) Executive shall not be eligible for an annual incentive award with respect to any period commencing after December 31, 2009.

 

  6. Section 6 is amended by adding the following at the end of such section:

; provided, however, that Executive shall not be eligible to receive any grants of equity-based compensation awards after December 31, 2008. Executive’s target award with respect to long-term cash incentive awards granted under the Company’s 1997 Incentive Compensation Plan, as amended, and 2007 Incentive Plan shall be $900,000 for the 2006 to 2008 performance period, and shall be $697,500.00 and $213,750.00, respectively, for the 2007 to 2009 and the 2008 to 2010 performance periods.

 

  7. The definition of “Constructive Termination Without Cause” in Section 10(c) is amended by adding the following at the end of such definition:

Notwithstanding the foregoing, any modifications to Executive’s duties, compensation or benefits that have been agreed between Executive and the Company in writing shall not constitute “Constructive Termination Without Cause”.

 

  8. Section 10(f) is amended by:

 

  (a) adding the following as a new paragraph after clause (vii) of Section 10(f):

Upon Executive’s Approved Early Retirement on or after June 21, 2010, Executive shall be entitled to the payments and benefits set forth in this subsection (except that clause (ii) of this subsection shall not apply).

 

  (b) deleting from the definition of “Approved Early Retirement” appearing in Section 10(f) the words “, if such termination is approved in advance by the Committee”.

 

  9. Section 12(b)(v) is amended by replacing the words “the remainder of the Term of Employment” with “June 21, 2012”.

B. Executive will be treated as an Executive Employee for purposes of Section 1.21(a) of the Company’s Supplemental Retirement Plan I for Select Senior Management during the period of his employment in accordance with his Employment Agreement.

 

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C. Provided Executive does not retire or resign prior to December 31, 2009, Executive shall be relieved on January 1, 2010 from any and all repayment obligations with respect to any portion of the retention bonus awarded to Executive by the Company in 2001.

IN WITNESS WHEREOF, CVS Caremark Corporation has caused this instrument of amendment to be executed by its duly authorized officer, and the Executive has hereunto put his hand, as of the date first above written.

 

CVS CAREMARK CORPORATION
By:    
 

V. Michael Ferdinandi

Senior Vice President, Human Resources and Corporate Communications

 

Christopher Bodine
     
 

 

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This excerpt taken from the CVS 8-K filed Aug 15, 2006.
Agreement”) is to confirm the agreement concerning the purchase of the Notes from the Company by the Underwriters.

     1. Representations, Warranties and Agreements of the Company. The Company represents and warrants to, and agrees with, each Underwriter that:

     (a) An “automatic shelf registration statement” (as defined in Rule 405 under the Securities Act of 1933, as amended (the “

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