Exhibit 10.1


 





 


April 12,
2010


 


Shar Matin


Plesmanstraat 6


3833 La Leusden


The Netherlands


 


We are pleased to offer you the
position as Senior Vice President - Operations, Product Development and
International based in Colorado Springs, Co. You will report directly to me and
your suggested start date is April 12, 2010. In this position, you will be
responsible for manufacturing, engineering, product development, quality
systems and regulatory affairs.  In
addition, you will remain responsible for Spectranetics International for an
interim period until a Managing Director of Spectranetics International can be
appointed.  You will have other
responsibilities as assigned from time to time including a key role in business
development and as a member of the Executive Management Committee.


 


Your annual base compensation will
be $230,000 annually.  Your variable
compensation at target performance will be $130,000 annually. You will also receive a stock option grant of 65,000 shares, subject to
approval by the Compensation Committee at the first meeting following your date
of hire that will vest over four years. 
All of your rights and interests to the stock options are defined
specifically in the 2006 Equity Participation Plan of The Spectranetics
Corporation.


 


Other key components of your offer are as follows:


 


·                  Spectranetics
will provide a fixed amount of $46,900 as a relocation allowance to cover
various indirect relocation costs. The allowance will be paid the first pay
date following your relocation to Colorado. 
**


 


·                  Spectranetics
will provide cost of moving, insuring and storing household goods up to 90 days
and two automobiles, along with all relocation related charges up to
$5,000.  You will be responsible for any
and all other costs associated your relocation from The Netherlands to Colorado
Springs.


 


·                  Spectranetics
will reimburse you up to $2,500/month as a business expense for hotel/apartment
expenses incurred as temporary housing while staying in COS for a period up to
6 months.


 


·                  Spectranetics
will coordinate all travel arrangements with the Spectranetics travel agency
for the physical move to Colorado Springs.


 


·                  You will be eligible
to participate in our U.S based medical/dental benefits program upon your
relocation to COS. This, along with other benefits, will be explained in detail
during your first week in COS.


 






** These relocation costs are considered as
taxable income and will be reported as ordinary income on your W-2. You will be
responsible for income taxes on these amounts.


 


If you should
leave Spectranetics either voluntarily or for cause within the first 18 months
following your relocation, you will be obligated to reimburse all relocation
expenses paid by Spectranetics within 60 days following your last day of
employment.  If you should leave
Spectranetics either voluntarily or for cause after the first 18 months and
prior to the first 24 months following your relocation, you will be obligated
to reimburse 50% relocation expenses paid by Spectranetics within 60 days
following your last day of employment.  Reimbursable
relocation expenses include: the one time relocation allowance, plus the costs
incurred to move your household goods and automobiles.  “For Cause” shall be defined as follows:  (i) a failure by you to render services
to the Company or its subsidiaries in 


 

















 


accordance with
your assigned duties and responsibilities, and such failure of performance
continues for a period of more than fifteen days after notice thereof has been
provided to you by the Company (other than any such failure resulting from your
disability); (ii) any action or omission by you involving willful
misconduct or gross negligence relating to your duties and responsibilities to
the Company or its subsidiaries or affiliates, including without limitation
disloyalty, dishonesty or breach of fiduciary duty; (iii) your commission
of (as determined by the Company) or indictment for a crime, either in
connection with the performance of your obligations to the Company or its
subsidiaries or affiliates or which otherwise shall significantly adversely
affect your ability to perform such obligations or which shall significantly
adversely affect the business activities, reputation, goodwill or image of the
Company or its affiliates; (iv) your breach of any material obligation you
have under any written agreement with the Company or its affiliates or which
have been delegated to you by the Company which, if capable of cure, is not
cured within five days from receipt of notice from the Company; or (v) any
act of fraud, embezzlement, theft or misappropriation from the Company or its
subsidiaries or affiliates by Executive.


 


Your employment with the Company is on an at-will employment basis in
that it can be terminated at any time, with or without cause, and with or without
notice, at the option of either the Company or yourself.  Although the terms of your employment
outlined above apply at the present time, the Company reserves the right to
modify or change any term or condition of your employment including
compensation, benefits or duties. 
Neither the terms of this offer letter, nor any other writings or
statements of the Company, do not and are not intended to create either an
express or implied contract of employment with Spectranetics.  This understanding can only be modified, if
at all, in writing signed by an Executive Officer of the Company.


 


Please fax a signed copy of your acceptance of this offer letter to
Sandra Guenette, Director of Human Resources, at (719) 447-2060.


 


Again Shar, I
am very pleased to offer you this position.  
If you have any questions or concerns, please feel free to contact me.


 


Sincerely,


 


	
  /s/ Emile Geisenheimer

  	
   

  	
   

  



Emile Geisenheimer


Chairman, President and CEO


Spectranetics


9965 Federal Drive


Colorado Spring, CO  80921


 


ACCEPTED:


 


 


	
  /s/ Shar Matin

  	
   

  	
  April 14, 2010

  
	
  Shar Matin - Signature

  	
   

  	
  Date