Document:

exv10w1

 

Exhibit
10.1

AMKOR TECHNOLOGY, INC.

2007 EQUITY INCENTIVE PLAN

STOCK OPTION AWARD AGREEMENT

     Unless otherwise defined herein, the terms defined in the Amkor Technology, Inc. 2007 Equity
Incentive Plan (the “Plan”) will have the same defined meanings in this Stock Option Award
Agreement (the “Award Agreement”).

     Participant Name:

     Address:

     You have been granted an Option to purchase Common Stock of Amkor Technology, Inc. (the
“Company”), subject to the terms and conditions of the Plan and this Award Agreement, as follows:

	 	 	 	 	 	 
	 	Grant Number
	 	 	 
	 
	 	 
	 	 	 	 
	 	Date of Grant
	 	 	 
	 
	 	 
	 	 	 	 
	 	Vesting Commencement Date
	 	 	 
	 
	 	 
	 	 	 	 
	 	Exercise Price per Share
	 	$	 
	 
	 	 
	 	 	 	 
	 	Total Number of Shares Granted
	 	 	 
	 
	 	 
	 	 	 	 
	 	Total Exercise Price
	 	$	 
	 
	 	 
	 	 	 	 
	 	Type of Option:
	 	 	___ Incentive Stock Option
	 	 
	 	 	 	 
	 	 
	 	 	___ Nonstatutory Stock Option
	 	 
	 	 	 	 
	 	Term/Expiration Date:
	 	 	 
	 

  
     1. Grant of Option. The Plan Administrator of the Company hereby grants to the
Participant named in this Award Agreement (the “Participant”) an option (the “Option”) to
purchase the number of Shares, as set forth in this Award Agreement, at the exercise price per
Share set forth in the Award Agreement (the “Exercise Price”), subject to all of the terms and
conditions in this Award Agreement and the Plan, which is incorporated herein by reference.
Subject to Section 20(c) of the Plan, in the event of a conflict between the terms and conditions
of the Plan and the terms and conditions of this Award Agreement, the terms and conditions of the
Plan shall prevail.

 

 

     If designated in the Award Agreement as an Incentive Stock Option (“ISO”), this Option is
intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this
Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule
of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option (“NSO”).

     2. Vesting Schedule. Except as provided in Section 4 and subject to any acceleration
provisions contained in the Plan or set forth below, this Option may be exercised, in whole or in
part, in accordance with the following schedule. Shares scheduled to vest on a certain date or
upon the occurrence of a certain condition will not vest in Participant in accordance with any of
the provisions of this Award Agreement, unless Participant will have been continuously a Service
Provider from the Date of Grant until the date such vesting occurs:

     3. Termination Period. This Option may be exercised for three (3) months after
Participant ceases to be a Service Provider. Upon the death or Disability of Participant, this
Option may be exercised for twelve (12) months after Participant ceases to be a Service Provider.
Upon a Participant’s Retirement, the Option will remain exercisable for twelve (12) months
following Participant’s Retirement. If the exercise of an Option following the termination of
Participant’s status as a Service Provider (other than upon the Participant’s death or Disability)
would result in liability under Section 16(b), then the Option will terminate on the earlier of (A)
the Term/Expiration Date, or (B) the tenth (10th) day after the last date on which such
exercise would result in such liability under Section 16(b). If the exercise of the Option
following the termination of the Participant’s status as a Service Provider (other than upon the
Participant’s death or Disability) would be prohibited at any time solely because the issuance of
Shares would violate the registration requirements under the Securities Act, then the Option will
terminate on the earlier of (A) the Term/Expiration Date, or (B) three (3) months after the
termination of the Participant’s status as a Service Provider during which the exercise of the
Option would not be in violation of such registration requirements. In no event shall this Option
be exercised later than the Term/Expiration Date as provided above and may be subject to earlier
termination as provided in Section 15(c) of the Plan. Retirement means an Participant’s ceasing to
be Service Provider on or after the date when the sum of (i) Participant’s age (rounded down to the
nearest whole month), plus (ii) the number of years (rounded down to the nearest whole month) that
Participant has provided services to the Company equals or is greater than seventy-five (75).

     4. Administrator Discretion. The Administrator, in its discretion, may accelerate the
vesting of the balance, or some lesser portion of the balance, of the unvested Option at any time,
subject to the terms of the Plan. If so accelerated, such Option will be considered as having
vested as of the date specified by the Administrator.

     5. Exercise of Option. This Option is exercisable during its term in accordance with
the Vesting Schedule set out in the Award Agreement and the applicable provision of the Plan and
this Award Agreement. This Option is exercisable by completing the transaction through the
Company’s captive broker assisted transactions via voice response system or the Internet secured
transaction system.

     The Option shall be deemed to be exercised upon receipt by the Company of a fully executed
exercise notice or other form as may be required by the Company (the “Exercise Notice”).

 

 

The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to the
number of Shares in respect of which the Option is being exercised (the “Exercised Shares”),
together with any applicable tax withholding. No Shares shall be issued pursuant to the exercise
of this Option unless such issuance and exercise complies with Applicable Laws.

     6. Method of Payment. Payment of the aggregate Exercise Price shall be by any of the
following, or a combination thereof, at the election of Participant:

          (a)
Cash;

          (b)
Check;

          (c) Consideration received by the Company under a cashless exercise program implemented by the
Company in connection with the Plan; or

          (d)
Surrender of other Shares which have a Fair Market Value on the date of surrender equal to
the aggregate Exercise Price of the Exercised Shares, provided that accepting such Shares, in the
sole discretion of the Administrator, will not result in any adverse accounting consequences to the
Company.

     7. Tax Obligations. 

          (a) Withholding Taxes. Notwithstanding any contrary provision of this Award
Agreement, no certificate representing the Shares will be issued to Participant, unless and until
satisfactory arrangements (as determined by the Administrator) will have been made by Participant
with respect to the payment of income, employment and other taxes which the Company determines must
be withheld with respect to such Shares. To the extent determined appropriate by the Company in
its discretion, it will have the right (but not the obligation) to satisfy any tax withholding
obligations by reducing the number of Shares otherwise deliverable to Participant. If Participant
fails to make satisfactory arrangements for the payment of any required tax withholding obligations
hereunder at the time of the Option exercise, Participant acknowledges and agrees that the Company
may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not
delivered at the time of exercise.

          (b)
Notice of Disqualifying Disposition of ISO Shares. If the Option granted to
Participant herein is an ISO, and if Participant sells or otherwise disposes of any of the Shares
acquired pursuant to the ISO on or before the later of (i) the date two (2) years after the Grant
Date, or (ii) the date one (1) year after the date of exercise, Participant will immediately notify
the Company in writing of such disposition. Participant agrees that Participant may be subject to
income tax withholding by the Company on the compensation income recognized by Participant.

          (c)
Code Section 409A. Under Code Section 409A, an option that vests after December
31, 2004 that was granted with a per Share exercise price that is determined by the Internal
Revenue Service (the “IRS”) to be less than the Fair Market Value of a Share on the date of grant
(a “Discount Option”) may be considered “deferred compensation.” A Discount Option may result in
(i) income recognition by Participant prior to the exercise of the option, (ii) an additional
twenty percent (20%) federal income tax, and (iii) potential penalty and interest charges. The

 

 

Discount Option may also result in additional state income, penalty and interest charges to
Participant. Participant acknowledges that the Company cannot and has not guaranteed that the IRS
will agree that the per Share exercise price of this Option equals or exceeds the Fair Market Value
of a Share on the Date of Grant in a later examination. Participant agrees that if the IRS
determines that the Option was granted with a per Share exercise price that was less than the Fair
Market Value of a Share on the date of grant, Participant will be solely responsible for
Participant’s costs related to such a determination;

     8. Rights as Stockholder. Neither Participant nor any person claiming under or
through Participant will have any of the rights or privileges of a stockholder of the Company in
respect of any Shares deliverable hereunder unless and until certificates representing such Shares
will have been issued, recorded on the records of the Company or its transfer agents or registrars,
and delivered to Participant. After such issuance, recordation and delivery, Participant will have
all the rights of a stockholder of the Company with respect to voting such Shares and receipt of
dividends and distributions on such Shares.

     9. No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE
VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE
PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING
PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THE OPTION OR ACQUIRING SHARES
HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT, THE TRANSACTIONS
CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR
IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY
PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE
COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT’S
RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.

     10. Address for Notices. Any notice to be given to the Company under the terms of
this Award Agreement will be addressed to the Company, in care of its Stock Plan Administrator at
Amkor Technology, Inc., 1900 South Price Road, Chandler, Arizona, 85286, or at such other address
as the Company may hereafter designate in writing.

     11. Non-Transferability of Option. This Option may not be transferred in any manner
otherwise than by will or by the laws of descent or distribution and may be exercised during the
lifetime of Participant only by Participant.

     12. Binding Agreement. Subject to the limitation on the transferability of this grant
contained herein, this Award Agreement will be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors and assigns of the parties hereto.

 

 

     13. Additional Conditions to Issuance of Stock. If at any time the Company will
determine, in its discretion, that the listing, registration or qualification of the Shares upon
any securities exchange or under any state or federal law, or the consent or approval of any
governmental regulatory authority is necessary or desirable as a condition to the issuance of
Shares to Participant (or his or her estate), such issuance will not occur unless and until such
listing, registration, qualification, consent or approval will have been effected or obtained free
of any conditions not acceptable to the Company. The Company will make all reasonable efforts to
meet the requirements of any such state or federal law or securities exchange and to obtain any
such consent or approval of any such governmental authority. Assuming such compliance, for income
tax purposes the Exercised Shares will be considered transferred to Participant on the date the
Option is exercised with respect to such Exercised Shares.

     14. Plan Governs. This Award Agreement is subject to all terms and provisions of the
Plan. In the event of a conflict between one or more provisions of this Award Agreement and one or
more provisions of the Plan, the provisions of the Plan will govern. Capitalized terms used and
not defined in this Award Agreement will have the meaning set forth in the Plan.

     15. Administrator Authority. The Administrator will have the power to interpret the
Plan and this Award Agreement and to adopt such rules for the administration, interpretation and
application of the Plan as are consistent therewith and to interpret or revoke any such rules
(including, but not limited to, the determination of whether or not any Shares subject to the
Option have vested). All actions taken and all interpretations and determinations made by the
Administrator in good faith will be final and binding upon Participant, the Company and all other
interested persons. No member of the Administrator will be personally liable for any action,
determination or interpretation made in good faith with respect to the Plan or this Award
Agreement.

     16. Electronic Delivery. The Company may, in its sole discretion, decide to deliver
any documents related to Options awarded under the Plan or future Options that may be awarded under
the Plan by electronic means or request Participant’s consent to participate in the Plan by
electronic means. Participant hereby consents to receive such documents by electronic delivery and
agrees to participate in the Plan through any on-line or electronic system established and
maintained by the Company or another third party designated by the Company.

     17. Captions. Captions provided herein are for convenience only and are not to serve
as a basis for interpretation or construction of this Award Agreement.

     18. Agreement Severable. In the event that any provision in this Award Agreement will
be held invalid or unenforceable, such provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the remaining provisions of this
Award Agreement.

     19. Modifications to the Agreement. This Award Agreement constitutes the entire
understanding of the parties on the subjects covered. Participant expressly warrants that he or
she is not accepting this Award Agreement in reliance on any promises, representations, or
inducements other than those contained herein. Modifications to this Award Agreement or the Plan
can be made only in an express written contract executed by a duly authorized officer of the
Company.

 

 

Notwithstanding anything to the contrary in the Plan or this Award Agreement, the Company
reserves the right to revise this Award Agreement as it deems necessary or advisable, in its sole
discretion and without the consent of Participant, to comply with Code Section 409A or to otherwise
avoid imposition of any additional tax or income recognition under Section 409A of the Code in
connection to this Option.

     20. Amendment, Suspension or Termination of the Plan. By accepting this Award,
Participant expressly warrants that he or she has received an Option under the Plan, and has
received, read and understood a description of the Plan. Participant understands that the Plan is
discretionary in nature and may be amended, suspended or terminated by the Company at any time.

     21. Governing Law. This Award Agreement will be governed by the laws of the State of
Delaware without giving effect to the conflict of law principles thereof. For purposes of
litigating any dispute that arises under this Option or this Award Agreement, the parties hereby
submit to and consent to the jurisdiction of the State of Arizona, and agree that such litigation
will be conducted in the courts of Maricopa County, Arizona, or the federal courts for the United
States for the District of Arizona, and no other courts, where this Option is made and/or to be
performed.

     22. Agreement. Your receipt of the Option and this Award Agreement constitutes your
agreement to be bound by the terms and conditions of this Award Agreement and the Plan. Your
signature is not required in order to make this Award Agreement effective.

	 	 	 
	Optionee:

	 	Amkor Technology, Inc.:
	 	 	 
	 	 	 
	 
	 	By:
	 

	 	 
	 	 	 
	Signature/Date:

	 	Title:
	 

	 	 
	 	 	 
	 

	 	Date:Exhibit 10.1

STEVEN MADDEN, LTD.

52-16 BARNETT AVENUE

LONG ISLAND CITY, NY 11104

T (718) 446-1800

April 29, 2008

Dear Ms.
Newton Varela:

This letter
will set forth below the terms and conditions of your employment with Steven
Madden, Ltd. (the “Company”):

	
 

	
 

	
1.

	
Term of
  Agreement: April 29, 2008 through December 31, 2010
  (the “Term”), unless sooner terminated in accordance with Paragraph 9 of this
  Agreement.

	
 

	
 

	
2.

	
Position:
  Executive Vice President – Wholesale and Retail. You shall report to the
  Chief Operating Officer or such other person as the Chief Executive Officer
  (the “CEO”) shall direct.

	
 

	
 

	
3.

	
Salary:
  $350,000 per annum (paid in accordance with normal Company practice) from
  January 1, 2008 through December 31, 2008; and $400,000 per annum (paid in
  accordance with normal Company practice) from January 1, 2009 through
  December 31, 2010.

	
 

	
 

	
4.

	
Annual
  Wholesale Footwear Bonus: You shall receive a
  performance bonus for each of 2008, 2009 and 2010 equal to 2% of the
  increase, if any, in Wholesale Footwear division EBIT (earnings before
  interest and taxes) for that year over Wholesale Footwear division EBIT for
  the immediately prior year, less any deductions as shall be required to be
  withheld by any applicable laws and regulations. EBIT from any business
  acquired after the date hereof shall not be included in the bonus calculation
  until the second full calendar year under Company ownership. Such bonus (net
  of any deductions required to be withheld by any applicable laws and
  regulations) shall be payable on or about March 15 of the following year.

	
 

	
 

	
5.

	
Annual
  Retail Bonus: You shall receive a performance bonus
  for each of 2008, 2009 and 2010 equal to 1.5% of the increase, if any, in
  Retail division EBIT (earnings before interest and taxes) for that year over
  Retail division EBIT for the immediately prior year, less any deductions as
  shall be required to be withheld by any applicable laws and regulations. EBIT
  from any business acquired after the date hereof shall not be included in the
  bonus calculation until the second full calendar year under Company
  ownership. Such bonus (net of any deductions required to be withheld by any
  applicable laws and regulations) shall be payable on or about March 15 of the
  following year.

	
 

	
 

	
6.

	
Long-Term
  Compensation: If you are still employed by the
  Company on December 31, 2010, you shall receive a bonus of $200,000, less any
  deductions as shall be required to be withheld by any applicable laws and
  regulations.

	
 

	
 

	
7.

	
Options:
  You shall be granted 50,000 options on the date hereof. In the event you are
  still employed by the Company, (i) on April 1, 2009, you shall be granted
  25,000 options and (ii) on April 1, 2010, you shall be granted 25,000
  options. All options shall vest 20% each year for five years, commencing on
  the first anniversary date of the grant of the options, have a term of seven
  years and have an exercise price equal to the market price on grant date.

	
 

	
 

	
8.

	
Car
  Allowance: During the Term, you shall receive a car
  allowance of $1,250 per month.

	
 

	
 

	
9.

	
Termination:
  

          (a)     Involuntary
Termination. The Company has the right to terminate your employment, on
written notice to you, at any time without Cause (as defined below). In the
event the Company terminates your employment without Cause, then the Term shall
terminate immediately, and you shall be entitled to receive only (i) Salary
payments described in Paragraph 3, at the regular intervals of payment, from
the date of termination through the date this Agreement would have otherwise
terminated but for the involuntary termination plus (ii) any accrued and unpaid
Bonus amounts described in Paragraphs 4 and 5 for the year prior to termination
which such Bonuses shall still be payable on or about March 15 of the year
following their accrual.

          (b)     Voluntary
Termination by you or Termination for Cause. You shall have the right to
terminate your employment at any time for any reason (“Voluntary Termination”)
and the Company shall have the right to terminate your employment at any time
for Cause, on written notice to you, setting forth in reasonable detail the
facts and circumstances resulting in the Cause upon which such termination is
based. In the event of a Voluntary Termination or a termination by the Company
for Cause, the Term shall terminate immediately and you shall be entitled only
to any accrued and unpaid Salary described in Paragraph 3 through the date of
termination. For the purpose of this Agreement, Cause shall mean: 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
(i)

	
a material
  breach by you of your material duties or obligations to the Company which is
  not remedied to the reasonable satisfaction of the Company within ten (10)
  days after the receipt by you of written notice of such breach from the
  Company;

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
(ii)

	
you are
  convicted of, or enter a guilty or “no contest” plea with respect to a felony
  or a crime of mural turpitude (whether or not a felony);

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
(iii)

	
you have an
  alcohol or substance abuse problem, which in the reasonable opinion of the
  Company materially interferes with your ability to perform your duties;

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
(iv)

	
any act or
  acts of personal dishonesty, fraud, embezzlement, misappropriation or
  conversion intended to result in your personal enrichment at the expense of
  the Company, or any of its subsidiaries or affiliates, or any other material
  breach or violation of fiduciary duty owed to the Company, or any of its
  subsidiaries or affiliates; 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
(v)

	
any grossly
  negligent act or omission or any willful and deliberate misconduct by you
  that results, or is likely to result, in material economic, or other harm, to
  the Company, or any of its subsidiaries or affiliates; or

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
(vi)

	
you violate
  or pay fines, suffer sanctions or injunctive relief relating to (whether or
  not you are found to have violated) any federal or state securities laws,
  rules or regulations or the rules and regulations of any stock exchange on
  which the Company is listed or included.

2

          (c)
     Disability. You shall be considered to be
“Disabled” if, in the Company’s reasonable opinion after receiving the written
report of an independent physician selected by the Company, you are incapable,
due to mental or physical disability, of performing the essential functions of
your duties for a period of sixty (60) days (whether or not consecutive) during
any period of one hundred twenty (120) days. In the event you shall become
Disabled during the Term, the Company may terminate your employment and the
Term and the Company shall have no further obligation or liabilities to you,
except payment of accrued and unpaid Salary described in Paragraph 3 through
the date of termination plus any accrued and unpaid Bonus amounts described in
Paragraphs 4 and 5 for the year prior to termination, which such Bonuses shall
still be payable on or about March 15 of the year following their accrual. 

          (d)     Death.
In the event of your death, your employment and the Term shall terminate
immediately and the Company shall have no further obligation or liabilities to
you or your estate except that your estate shall be entitled to receive payment
of accrued and unpaid Salary described in Paragraph 3 through the date of
termination plus any accrued and unpaid Bonus amounts described in Paragraphs 4
and 5 for the year prior to your death, which such Bonuses shall still be payable
on or about March 15 of the year following their accrual. 

          (e)
     Termination Payment. Provided the Company
makes the payments required under this Letter Agreement that are attributable
to the termination of your employment, such payments shall be in full and
complete satisfaction and release of any and all claims you or your
beneficiaries, estate or legal representatives may have against the Company
and/or its subsidiaries or affiliates hereunder.

	
 

	
 

	
10.

	
Non-Solicitation/Non-Competition
  Agreement: You recognize that the services to be
  performed by you hereunder are special and unique. In consideration of the
  compensation granted herein, you agree that, while employed by the Company,
  and thereafter, in the event your employment is terminated for any reason
  other than a termination by the Company without Cause, for a period of 12
  months following such termination, you shall not, directly or indirectly,
  anywhere in the United States, whether individually or as a principal
  officer, employee, partner, member, director or agent of, or consultant for,
  any person or entity: (i) become employed by, an owner of, or otherwise
  affiliated with, or furnish services to, any business that competes with the
  Company, (ii) solicit any business from any customers of the Company, or
  (iii) hire, offer to hire, entice away, or in any manner persuade or attempt
  to persuade any employee of the Company to discontinue his/her employment
  with the Company or any other party that has a business relationship with the
  Company to discontinue his/her/its business relationship with the Company.

	
 

	
 

	
11.

	
Covenant Not
  to Disclose.
  You covenant and agree that you will not, to the detriment of the
  Company, at any time during or after the Term, reveal, divulge or make known
  to any person (other than (i) to the Company, or (ii) in the regular course
  of business of the Company) or use for your own account any confidential or
  proprietary records, data, processes, ideas, methods, devices, business
  concepts, inventions, discoveries, know-how, trade secrets or any other
  confidential or proprietary information whatsoever (the “Confidential
  Information”) previously possessed or used by the Company or any of its
  subsidiaries or affiliates, (whether or not developed, devised or otherwise
  created in whole or in part by your efforts) and made known to you by reason
  of your employment by or affiliation with the Company. You further covenant
  and agree that you shall retain all such knowledge and information which you
  shall acquire or develop respecting such Confidential Information in trust
  for the sole benefit of the Company and its 

3

	
 

	
 

	
 

	
successors
  and assigns. Additionally, you agree that all right, title and interest in
  and to any discoveries, processes, ideas, methods and/or business concepts that
  you develop during the Term relating to the business of the Company are, and
  shall remain the property of the Company, and you hereby assign to the
  Company any right, title and interest you might otherwise claim therein.

	
 

	
 

	
12.

	
Business
  Materials, Covenant to Report. All written
  materials, records and documents made by you or coming into your possession
  concerning the business or affairs of the Company shall be the sole property
  of the Company and, upon the termination of your employment with the Company or
  upon the request of the Company at any time, you shall promptly deliver the
  same to the Company and shall retain no copies thereof. You agree to render
  to the Company such reports of your activities or activities of others under
  your direction during the Term as the Company may request.

	
 

	
 

	
13.

	
Governing
  Law; Injunctive Relief:

	
 

	
 

	
 

	
 

	
13.1

	
The
  validity, interpretation, and performance of this Agreement shall be
  controlled by and construed under the laws of the State of New York,
  excluding choice of law rules thereof.

	
 

	
 

	
 

	
 

	
13.2

	
You
  acknowledge and agree that, in the event you shall violate any of the
  restrictions of Paragraphs 10, 11 or 12 hereof, the Company will be without
  an adequate remedy at law and will therefore be entitled to enforce such
  restrictions by temporary or permanent injunctive or mandatory relief in any
  court of competent jurisdiction without the necessity of proving damages or
  posting a bond or other security, and without prejudice to any other remedies
  which it may have at law or in equity. Each of you and the Company
  acknowledges and agrees that, in addition to any other state having proper
  jurisdiction, any such relief may be sought in, and for such purpose each of
  you and the Company consents to the jurisdiction of, the courts of the State
  of New York.

	
 

	
 

	
14.

	
Assignment:
  This Agreement, as it relates to your employment, is a personal contract and
  your rights and interests hereunder may not be sold, transferred, assigned,
  pledged or hypothecated.

	
 

	
 

	
15.

	
Notices:
  Any and all notices or other communications or deliveries required or
  permitted to be given or made pursuant to any of the provisions of this
  Agreement shall be deemed to have been duly given or made for all purposes
  when hand delivered or sent by certified or registered mail, return receipt
  requested and postage prepaid, overnight mail or courier, or facsimile,
  addressed, if to the Company, at the Company’s offices, Attn: CEO, and if to
  you, at the address of your personal residence as maintained in the Company’s
  records, or at such other address as any party shall designate by notice to
  the other party given in accordance with this Paragraph 15.

	
 

	
 

	
16.

	
Entire
  Agreement: This Agreement represents the entire
  understanding and agreement between the parties hereto with respect to the
  subject matter hereof, supersedes all prior agreements between such parties
  with respect to the subject matter hereof, and cannot be amended,
  supplemented or modified orally, but only by an agreement in writing signed
  by the party against whom enforcement of any such amendment, supplement or
  modification is sought.

	
 

	
 

	
17.

	
Execution in
  Counterparts; Signatures; Severability: This
  Agreement may be executed in
  counterparts, each of which shall be deemed to be an original, but all of
  which together shall constitute one and the same instrument. Facsimile or
  electronic mail signatures hereon shall constitute original signatures. If
  any provisions of this Agreement as applied to any part or to any
  circumstance shall be adjudged by a court to be invalid or unenforceable, the
  same shall in no way affect any other provision of this Agreement, the
  application of such provision in any other circumstances or the validity or
  enforceability of this Agreement.

4

	
 

	
 

	
18.

	
Representation
  by Counsel; Interpretation: Each party acknowledges
  that it has been represented by counsel or has had the opportunity to be
  represented by counsel in connection with this Agreement and the transactions
  contemplated by this Agreement. Accordingly, any rule or law or any legal
  decision that would require interpretation of any claimed ambiguities in this
  Agreement against the party that drafted it has no application and is
  expressly waived by such parties. The provisions of this Agreement shall be
  interpreted in a reasonable manner to effect the intent of the parties
  hereto.

	
 

	
 

	
 

	
Signature:

	
 

	
/s/ Edward
  R. Rosenfeld

	
 

	
 

	

	
 

	
 

	
Edward R.
  Rosenfeld, Interim CEO

	
 

	
 

	
 

	
Counter-signature:

	
 

	
 

	
 

	
 

	
/s/ Amelia
  Newton Varela

	
 

	
 

	

	
 

	
 

	
Amelia
  Newton Varela

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}]]