Document:

Summary of EDS Non-Employee Director Compensation Program

 Exhibit 10.5 
  
 2005 Compensation for Non-Employee Directors 
  

Overview 
  
 The EDS Compensation Plan for Non-Employee Directors is designed to recognize and reward the important contributions you make as a board member in guiding and directing the company. 
  
 Your compensation as a non-employee Director is awarded as an all inclusive annual retainer.
You can elect to receive the annual retainer as a lump-sum cash payment, as EDS equity, or you can elect to defer receipt of all or part of your annual retainer until after your service as an EDS Director has ended. You are encouraged to elect at
least half of your compensation in equity, enabling you to reap the benefits of the decisions you make as an EDS Director, and more closely align your interests with those of our shareholders. 
  
 Payment is made at the beginning of each board year, typically at or following the annual
shareholders’ meeting. If a non-employee Director is elected to EDS’ Board during the board year, he or she will receive prorated compensation upon election and will be allowed to choose the form of payment at that time. 
  
 Annual Retainer 
  
 Your annual retainer (or compensation) is determined as follows: 
  

	1.	Base Amount: You will receive an all inclusive base amount of $200,000 per board year, which compensates you for the day-to-day time and energy you spend supporting our
shareholders and advising EDS management. 

  

	2.	Committee Chairperson Amount: You will receive an additional amount of $15,000 per board year if you serve as a chairperson for one of the board committees.

  
 Payment Form 
  
 Your compensation can be delivered in any combination of the following forms of payment:

  

	1.	Lump-Sum Cash Payment – You may receive your compensation as a lump-sum payment at the annual shareholders’ meeting. 

  

	2.	Restricted Shares of EDS Stock – You may choose to convert your compensation into restricted shares of EDS stock with a 110 percent face value. If this alternative is
elected, the number of shares granted to you will be determined by multiplying the elected amount by 110 percent and then dividing that amount by the grant price. The grant price is determined by averaging the high and low trade price of EDS stock
on May 2, 2005. Vesting occurs over three years, with one-third vesting each year on or about the anniversary of the grant date. Share value on the vesting date is taxable as income to you and will be reported annually on IRS Form 1099. Upon
vesting, shares are held on account at American Stock Transfer & Trust Company (AST), the transfer agent for EDS. You will receive dividends (or dividend equivalents) on all of your vested and unvested restricted shares at the same time
dividends are paid to shareholders. 

  

	3.	EDS Deferred Compensation Plan for Non-Employee Directors – You may elect to defer your compensation into the EDS Deferred Compensation Plan for Non-Employee Directors
(“Plan”), which enables you to defer receipt of payment (and taxes) until after your service as an EDS Director has ended. In order to defer any compensation you earn as a non-employee Director for the 2005–2006 board year, your
deferral election form must be returned to EDS on or before March 15, 2005. The Plan offers two accounts in which you may invest your deferred compensation: the Interest-Bearing Account and the Phantom Stock Account. You may choose to defer your
compensation into either or both accounts. 

  

	 	•	 	Interest-Bearing Account: Deferrals into this account will be credited at 100 percent of the face value of the deferred compensation on May 2, 2005, and will earn interest
that is compounded monthly and credited to the account on the last day of each month. The interest rate is an annual rate established by multiplying the Federal Long-term Rate in effect for January by 120 percent, and is adjusted each calendar year.

 2005 Compensation for Non-Employee Directors 
  

	 	•	 	Phantom Stock Account: Deferrals into this account will be converted into phantom stock units of EDS common stock and will be credited at 110 percent of the face value of the
deferred compensation. The number of phantom stock units credited to your account is determined using the average of the high and low trade price of EDS stock on May 2, 2005. Additional phantom stock units will be credited to your account
representing dividend equivalents on your phantom stock units at the same time dividends are paid to shareholders. 

  
 Your account balance in the Plan will be distributed to you within 60 days after your service as an EDS Director has ended. You can elect the form of
payment from one of the following distribution methods: 
  

	 	1.	lump-sum payment, 

  

	 	2.	three annual installments, or 

  

	 	3.	five annual installments. 

  
 Until December 31, 2005, you have a special one-time opportunity to make a final payment election. This payment election will apply to your entire Plan
account balance, and it will revoke and supercede any previous payment elections you have filed. Once made, this election is irrevocable. Unless and until you make this final payment election on or before December 31, 2005, the form of payment
election you currently have on file will remain in effect. 
  
 Stock Ownership
Guidelines 
  
 Owning stock in EDS closely aligns your interests with those of
our shareholders and allows you to reap the benefits of the value you help create. As a non-employee director, you are expected to achieve and maintain a stock ownership level equivalent to two times your Annual Retainer ($400,000 in total) during
your board service. You have five years from the beginning of the 2004–2005 board year, or from your election to the board (whichever is later), to achieve this stock ownership level. 
  
 You have many ways to accumulate EDS equity. The value of your EDS equity holdings will
include: 
  

	•	 	shares held outright 

  

	•	 	phantom stock units 

  

	•	 	restricted stock awards 

  

	•	 	in-the-money value of stock options 

  
 Your stock ownership status will be reviewed and reported to you each January. 
  
 Although these guidelines establish a minimum expectation of EDS stock ownership, you are encouraged to increase your EDS stock ownership beyond this guideline.

  
 For Additional Information 
  
 If you have any questions please contact Michael E. Paolucci, Vice President, Global
Compensation and Benefits, at 972 605 1646.Series A-2 Preferred Stock Purchase Agreement

 Exhibit 10.65 
  
 AMENDMENT NO. 1 TO 
 SERIES A-2 PREFERRED STOCK PURCHASE AGREEMENT 
  
 THIS AMENDMENT NO. 1 (this “Amendment”) to that certain Series A-2 Preferred Stock Purchase Agreement dated as of January 7, 2005 (the “Purchase Agreement”), by and among Occam Networks, Inc., a Delaware
corporation (the “Company”), and the persons and entities listed on the Schedule of Investors attached thereto as Exhibits A-1 and A-2 is entered into this 23rd day of March, 2005. Capitalized terms not defined herein have the meanings set forth in the Purchase Agreement. 
  
 WHEREAS, the Company previously sold and issued an aggregate of
563,291 shares of Series A-2 Preferred pursuant to the terms of the Purchase Agreement at the Initial Closing held on January 7, 2005, and a Subsequent Closing held on January 14, 2005; and 
  
 WHEREAS, in connection with the sale on the date hereof of
545,979 shares of Series A-2 Preferred to certain new and existing investors of the Company, the Company and the Investors holding a sufficient number of shares of Series A-2 Preferred to amend the Purchase Agreement desire to amend the Purchase
Agreement to allow the purchase of shares of Series A-2 Preferred by forgiveness of outstanding indebtedness owed by the Company; and 
  
 WHEREAS, Section 7.1 of the Purchase Agreement provides that the provisions of the Purchase Agreement may be amended by a written instrument
referencing the Purchase Agreement and signed by the Company and the Investors holding 85% in interest of the Common Stock issued or issuable upon conversion of the Series A-2 Preferred issued pursuant to the Purchase Agreement. 
  
 NOW, THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Purchasers agree as follows: 
  
 1. Amendment to Section 2.2. Section 2.2 of the Purchase Agreement is hereby amended to provide that at a Closing, payment for the Shares that an
Investor is purchasing in such Closing may be made by such Investor by (i) check payable to the Company; (ii) wire transfer in accordance with the Company’s instructions; (iii) cancellation of indebtedness; or (iv) any combination of the
foregoing. 
  
 2. Purchase of Shares by Tellabs. Pursuant
to Section 2.1(b)(ii) of the Purchase Agreement, the undersigned Initial Closing Investors each consent to the purchase of Shares by Tellabs Equity Holdings Corporation (“Tellabs”) at a Subsequent Closing held on or after the date
hereof. Exhibit A-2 to the purchase agreement is hereby amended to reflect the purchase of Shares by Tellabs and certain other existing investors in the Subsequent Closing held on the date hereof. The amended Exhibit A-2 is attached
hereto together with Exhibit A-1 to the Purchase Agreement. 
  
 3. Satisfaction of Right and Obligation to Purchase Shares. By signing below, the Company and each of the Initial Closing Investors acknowledges and agrees that the purchase of the Shares by the Initial Closing Investors at the
Subsequent Closing held on the date hereof satisfies in full the Initial Closing Investors’ right and obligation to purchase additional Shares after the Initial 

 
Closing as set forth in Section 2.1(c) of the Purchase Agreement and that the Initial Closing Investors have no further right or obligation to purchase
Shares pursuant to the Purchase Agreement. The number of Shares purchased by each of the Initial Closing Investors at the Subsequent Closing held on the date hereof is set forth on Exhibit A-2 attached hereto. 
  
 4. Acknowledgement of Cancellation of Indebtedness. By signing below,
Crescent Venture Investors (“Crescent”) acknowledges and agrees that (i) the issuance to Crescent of Shares at the Subsequent Closing held on the date hereof and (ii) the payment in cash by the Company of the difference (which, if
any, shall be less than $10) between (x) the total balance, including accrued interest, owing under that certain Unsecured Subordinated Promissory Note dated June 27, 2003, in the principal amount of $500,000 (the “Note”) as of the
date hereof and (y) the purchase price of the Shares purchased by Crescent at the Subsequent Closing held on the date hereof as reflected on Exhibit A-2 attached hereto constitutes full and final payment of all amounts (including, without
limitation, accrued interest) owing under the Note and that the Company has no additional outstanding obligations to Crescent under the Note. Crescent acknowledges and agrees that its purchase of Shares is contingent upon its delivering to the
Company on or prior to the date hereof the original Note for cancellation by the Company. 
  
 5. Effect of Execution of Amendment by Certain Purchasers. This Amendment, when executed and delivered by the Company and an Investor purchasing Shares at a Subsequent Closing held on or after the date hereof,
shall also constitute and shall be deemed a counterpart signature page to the Purchase Agreement. Consequently, the undersigned Investors purchasing Shares at a Subsequent Closing held on or after the date hereof hereby acknowledge and agree that
they are bound by the terms and conditions contained in the Purchase Agreement as amended by this Amendment with respect to the purchase of the Shares. 
  
 6. Governing Law. This Amendment shall be governed by and construed under the laws of the State of California, without reference to principles of
conflicts of law. 
  
 7. Counterparts; Facsimile. This
Amendment may be executed by facsimile signature and in any number of counterparts, each of which shall be enforceable against the parties actually executing such counterparts, and all of which together shall constitute one instrument. 

 
 8. Amendment. On and after the execution of this Amendment, each
reference in the Purchase Agreement to the Purchase Agreement shall mean and be a reference to the Purchase Agreement as modified by this Amendment. 
  
 [Remainder of Page Intentionally Blank] 
  
  

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first above written.

  

			
	 “COMPANY”
  
 OCCAM NETWORKS, INC.
 a Delaware corporation

		
	By:	 	 /s/ Howard Bailey

	Name:	 	Howard Bailey
	Title:	 	Chief Financial Officer

  
 [Signature
Page to Amendment No. 1 to Series A-2 Preferred Stock Purchase Agreement] 

			
	“INVESTOR”
	
	Alta Capital Partners III, L.P.
	By: Alta California Management Partners III, LLC
		
	By:	 	 /s/ Khaled A. Nasr

	 	 	Director
	
	Alta Embarcadero Partners III, LLC
		
	By:	 	 /s/ Hilary Strain

	 	 	V.P. of Finance and Administration

  
 [Signature
Page to Amendment No. 1 to Series A-2 Preferred Stock Purchase Agreement] 

			
	“INVESTOR”
	
	U.S. Venture Partners VII, L.P.
	2180 Associates Fund VII, L.P.
	USVP Entrepreneur Partners VII-A, L.P.
	USVP Entrepreneur Partners VII-B, L.P.
	By Presidio Management Group VII, L.L.C.
	The General Partner of Each
		
	By:	 	 /s/ Michael P. Maher

	Name:	 	Michael P. Maher
	Title:	 	Attorney-In-Fact
	
	U.S. Venture Partners V, L.P.
	USVP V International, L.P.
	2180 Associates Fund V, L.P.
	USVP V Entrepreneur Partners, L.P.
	By Presidio Management Group V, L.L.C.
	The General Partner of Each
		
	By:	 	 /s/ Michael P. Maher

	Name:	 	Michael P. Maher
	Title:	 	Attorney-In-Fact

  
 [Signature
Page to Amendment No. 1 to Series A-2 Preferred Stock Purchase Agreement] 

			
	“INVESTOR”
	
	Norwest Venture Partners VIII, L.P.
	By: Itasca VC Partners VIII, LLP
	Its: General Partner
		
	By:	 	 /s/ Promod Haque

	Name:	 	Promod Haque
	Title:	 	Managing Partner
	
	NVP Entrepreneurs Fund VIII, L.P.
	By: Itasca VC Partners VIII, LLP
	Its: General Partner
		
	By:	 	 /s/ Promod Haque

	Name:	 	Promod Haque
	Title:	 	Managing Partner

  
 [Signature
Page to Amendment No. 1 to Series A-2 Preferred Stock Purchase Agreement] 

			
	“INVESTOR”
	
	New Enterprise Associates 9, L.P.
	By: NEA Partners 9, L.P.
	Its: General Partner
		
	By:	 	 /s/ C. Richard Kramlich

	Name:	 	 C. Richard Kramlich

	Title:	 	 General Partner

  
 [Signature
Page to Amendment No. 1 to Series A-2 Preferred Stock Purchase Agreement] 

			
	“INVESTOR”
	
	Tellabs Equity Holdings Corporation
		
	By:	 	 /s/ Krish A. Prabhu

	Name:	 	 Krish A. Prabhu

	Title:	 	 President and Chief Executive Officer

  
 [Signature
Page to Amendment No. 1 to Series A-2 Preferred Stock Purchase Agreement] 

			
	“INVESTOR”
	
	Crescent Venture Investors
		
	By:	 	 /s/ Kevin G. Hall

	Name:	 	 Kevin G. Hall

	Title:	 	 General Partner

  
 [Signature
Page to Amendment No. 1 to Series A-2 Preferred Stock Purchase Agreement] 

 EXHIBIT A-1 
  
 SCHEDULE OF INVESTORS 
  
 Initial Closing 
  

						
	 Investor

	  	Number of
Series A-2 Shares

	  	Purchase Price

	 Alta California Partners III, L.P.
 Alta Embarcadero Partners III, LLC.
  
 One Embarcadero Center
 Suite 4050
 San Francisco, CA 94111
 Attention: Khaled Nasr
 Fax: (415) 362-6178
	  	120,917
4,083	  	$
$	1,209,170
40,830
			
	 U.S. Venture Partners VII, L.P.
 2180 Associates Fund VII, L.P.
 USVP Entrepreneur Partners VII-A, L.P.
 USVP Entrepreneur Partners VII-B, L.P.
 U.S. Venture Partners V, L.P.
 USVP V International, L.P.
 2180 Associates Fund V, L.P.
 USVP V Entrepreneur Partners, L.P.
  
 2735 Sand Hill Road
 Menlo Park, CA 94025
 Attention: Chief Financial Officer
 Fax: (650) 854-3018
	  	123,200
2,567
1,283
1,283
10,500
583
327
257	  	$
 
 
 
 
 
 
 	1,232,000
25,670
12,830
12,830
105,000
5,830
3,270
2,570
			
	 Norwest Venture Partners VIII, L.P.
 NVP Entrepreneurs Fund VIII, L.P.
  
 525 University Avenue, Suite 800
 Palo Alto, CA 94301
 Attention: Robert Abbott
 Fax: (650) 321-8010
	  	178,625
8,875	  	$
 	1,786,250
88,750
			
	 New Enterprise Associates 9, L.P.
  
 2490 Sand Hill Road
 Menlo Park, CA 94025
 Attention: Thomas C. McConnell
 Fax: (650) 854-9397
	  	75,000	  	$	750,000
	 	  	
	  	
	

	 Total
	  	527,500	  	$	5,275,000
	 	  	
	  	
	

  
  

 EXHIBIT A-2 
  
 SCHEDULE OF INVESTORS 
  
 First Subsequent Closing 
  

						
	 Investor

	  	Number of
Series A-2 Shares

	  	Purchase Price

	 Hook Partners V, L.P.
 Hook Communications Partners, L.P.
  
 One Lincoln Centre, Suite 1550
 5400 LBJ Freeway
 Dallas, TX 75240
 Attn: David Hook
	  	15,000
10,000	  	$
$	150,000
100,000
			
	 Windward Ventures 2000, L.P
 Windward Ventures 2000-A, L.P.
  
 550 West C Street, Suite 2030
 San Diego, CA 92101
 Attention: Administrative Partner
 Fax: (619) 234-6886
	  	7,341
3,450	  	$
$	73,410
34,500
	 	  	
	  	
	

	 Total
	  	35,791	  	$	357,910
	 	  	
	  	
	

  
  

 EXHIBIT A-2 (continued) 
  
 SCHEDULE OF INVESTORS 
  

Second Subsequent Closing 
  

						
	 Investor

	  	Number of
Series A-2 Shares

	  	Purchase Price

	 Tellabs Equity Holdings Corporation
  
 1465 North McDowell Boulevard
 Petaluma, CA 94954
 Attention: Legal Department
 Fax: (707) 794-7878
	  	200,000	  	$	2,000,000
			
	 Alta California Partners III, L.P.
 Alta Embarcadero Partners III, LLC.
  
 One Embarcadero Center
 Suite 4050
 San Francisco, CA 94111
 Attention: Khaled Nasr
 Fax: (415) 362-6178
	  	72,550
2,450	  	$
$	725,500
24,500
			
	 U.S. Venture Partners VII, L.P.
 2180 Associates Fund VII, L.P.
 USVP Entrepreneur Partners VII-A, L.P.
 USVP Entrepreneur Partners VII-B, L.P.
 U.S. Venture Partners V, L.P.
 USVP V International, L.P.
 2180 Associates Fund V, L.P.
 USVP V Entrepreneur Partners, L.P.
  
 2735 Sand Hill Road
 Menlo Park, CA 94025
 Attention: Chief Financial Officer
 Fax: (650) 854-3018
	  	52,800
1,100
550
550
4,500
250
140
110	  	$
 
 
 
 
 
 
 	528,000
11,000
5,500
5,500
45,000
2,500
1,400
1,100
			
	 Norwest Venture Partners VIII, L.P.
 NVP Entrepreneurs Fund VIII, L.P.
  
 525 University Avenue, Suite 800
 Palo Alto, CA 94301
 Attention: Robert Abbott
 Fax: (650) 321-8010
	  	107,175
5,325	  	$
 	1,071,750
53,250

						
	 Investor

	  	 Number of
 Series A-2 Shares

	  	Purchase Price

	 New Enterprise Associates 9, L.P.
  
 2490 Sand Hill Road
 Menlo Park, CA 94025
 Attention: Thomas C. McConnell
 Fax: (650) 854-9397
	  	45,000	  	$	450,000
			
	 Crescent Venture Investors*
  
 1734 Fulton
 Palo Alto, CA 94303
 Attention: Kevin Hall
 Fax:
	  	53,479	  	$	534,790
	 	  	
	  	
	

	 Total
	  	545,979	  	$	5,459,790
	 	  	
	  	
	

	 Grand Total
	  	1,109,270	  	$	11,092,700
	 	  	
	  	
	

	*	Paid by cancellation of all principal and accrued interest under Unsecured Convertible Promissory Note dated June 27, 2003, issued to Crescent Venture Investors by the Company.

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