Document:

Exhibit 10.3

 

Reaffirmation of Guaranty

 

The undersigned,
The Mills Corporation (the “Guarantor”), the guarantor under the Second Amended and
Restated Guaranty, dated as of December 17, 2004 (the “Guaranty”), in favor
of JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”)
and each of the lenders who is or may become a party to the Second Amended and
Restated Revolving Credit and Term Loan Agreement, dated as of December 17,
2004 (the “Credit
Agreement”), by and among The Mills Limited Partnership (the “Borrower”), the
Guarantor, the Administrative Agent and each of the lenders party thereto
(collectively, the “Lenders”)
hereby acknowledges the Waiver to Second Amended and Restated Revolving Credit
Agreement and Term Loan Agreement, dated as of February 16, 2005 (the “Waiver Agreement”),
by and among the Borrower, the Administrative Agent and certain of the Lenders,
and confirms that the Guaranty shall remain in full force and effect after
giving effect to the Waiver Agreement.

 

Executed as of this 16th
day of February, 2005.

 

	
   

  	
   

  	
   

  	
  THE
  MILLS CORPORATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ M. SCOTT DECAIN

  	
   

  
	
   

  	
   

  	
  Name:

  	
  M. Scott DeCain

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President,

  Capital MarketsExhibit 10.1

 

	
  

  	
  

  RESTRICTED STOCK AGREEMENT

  	
   

  

 

	
  GRANTED TO

  	
   

  	
  GRANT DATE

  	
   

  	
  NUMBER OF SHARES

  OF COMMON STOCK

  	
   

  	
  PURCHASE PRICE

  PER SHARE

  	
   

  	
  SOCIAL SECURITY

  NUMBER

  	
   

  
	
   

  	
   

  	
              , 200  

  	
   

  	
   

  	
   

  	
   

  	
  $       .    

  	
   

  	
   

  	
   

  
											

 

1.        The Grant.  Alliant Techsystems Inc., a Delaware corporation
(the “Company”), hereby grants to the individual named above (the “Employee”),
as of the above Grant Date, the above Number of Shares of Common Stock of the
Company (the “Shares”) on the terms and conditions set forth in this Restricted
Stock Agreement (this “Agreement”) and in the Alliant Techsystems Inc. 1990
Equity Incentive Plan (the “Plan”).

 

2.        Restricted Period.  The Shares are
subject to the restrictions contained in this Agreement and the Plan for a
period (the “Restricted Period”) commencing on the Grant Date and ending as to 100% of the Shares on the third anniversary  of the Grant Date or, if earlier, upon the Employee’s
death,  Disability (as defined in the
Plan), or involuntary layoff, as provided in Paragraph 4 below.

 

3.        Restrictions.  The Shares shall be subject to the
following restrictions during the Restricted Period:

 

(a)                    The Shares shall be subject to forfeiture to the
Company as provided in this Agreement and the Plan.

 

(b)                   The Shares may not be sold, assigned, transferred,
pledged, hypothecated or otherwise disposed of during the Restricted
Period.  Neither the right to receive the
Shares nor any interest under the Plan may be assigned by the Employee, and any
attempted assignment shall be void.

 

(c)                    The Shares will be issued in the Employee’s name,
either by book-entry registration or issuance of a stock certificate or
certificates, which certificate or certificates shall be held by the
Company.  The Shares shall be restricted
from transfer and shall be subject to an appropriate stop-transfer order.  If any certificate is issued, the certificate
shall bear an appropriate legend referring to the restrictions applicable to
the Shares.  If any certificate is
issued, the Employee shall be required to execute and deliver to the Company a
stock power relating to the Shares as a condition to the receipt fo this award
of Restricted Stock.

 

(d)                   Any securities or property (other than cash) that may
be issued with respect to the Shares as a result of any stock dividend, stock
split, business combination or other event shall be subject to the restrictions
and other terms and conditions contained in this Agreement.

 

(e)                    The Employee shall not be entitled to receive any
Shares prior to the completion of any registration or qualification of the Shares
under any federal or state law or governmental rule or regulation that the
Company, in its sole discretion, determines to be necessary or advisable.

 

4.        Forfeiture.  In the event of the Employee’s Termination of
Employment, other than by reason of death, Disability or involuntary layoff
prior to the end of the Restricted Period, the Employee’s rights to all of the
Shares shall be immediately and irrevocably forfeited.  In the event of the Employee’s Termination of
Employment by reason of death, Disability or involuntary layoff prior to the
end of the Restricted Period, the restrictions with respect to all of the
Shares shall lapse and the Shares shall become nonforfeitable as of the date of
such Termination of Employment.

 

5.        Rights.  Upon issuance of the Shares, the Employee
shall, subject to the restrictions of this Agreement and the Plan, have all of
the rights of a stockholder with respect to the Shares, including the right to
vote the Shares and receive any cash dividends and any other distributions
thereon, unless and until the Shares are forfeited.

 

6.        Income Taxes.  The Employee is liable for any
federal, state and local income or other taxes applicable upon the grant of the
Restricted Stock, the lapse of the restrictions on the Shares or the subsequent
disposition of the Shares, and the Employee acknowledges that he or she should
consult with his or her own tax advisor regarding the applicable tax
consequences.  Upon the lapse of the
restrictions on the Shares, the Employee shall promptly pay to the Company in
cash, and/or the Company may withhold from the Employee’s compensation or from
the Shares an amount necessary to pay, all applicable taxes required by the
Company to be withheld or collected upon the lapse of the restriction of the
Shares.

 

7.        Deferral of Shares. 
Notwithstanding any provisions of this Agreement to the contrary, the
Personnel and Compensation Committee of the Company’s Board of Directors may
unilaterally defer payment of the Restricted Stock pursuant to and in
accordance with the terms of the Company’s Nonqualified Deferred Compensation
Plan (the “NDCP”) and, in such event, the Shares shall be forfeited by the
Employee and transferred to and reacquired by the Company, and the value of
such Shares and any subsequent payment of such value shall be governed by the
terms of the NDCP.

 

8.        Acknowledgment.  This award of Restricted Stock
to the Employee shall not be effective until the Employee dates and signs the
form of Acknowledgment below and returns to the Company a signed copy of this
Agreement and, if reqeusted by the Company, the stock power required by
Paragraph 3 above.  By signing the
Acknowledgment, the Employee agrees to the terms and conditions of this
Agreement and the Plan and acknowledges receipt of a copy of the Prospectus
related to the Plan.

 

	
  ACKNOWLEDGMENT:

  	
   

  	
  ALLIANT TECHSYSTEMS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  EMPLOYEE’S SIGNATURE

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  DATE

  	
   

  	
  Daniel J. Murphy

  
	
   

  	
   

  	
  Chairman & Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
  SOCIAL SECURITY NUMBERExhibit 10.1

 

 

March 31, 2005

 

 

Melvin D. Booth

PO Box 9230

McLean, VA 22102

 

 

Dear Mel:

 

The purpose of this letter is to outline the changes in your employment
relationship with MedImmune as you transition from an executive part-time
status into a regular part time role with MedImmune Ventures.  This letter agreement will also supercede the
part time employment agreement dated January 1, 2004 as amended on December 21,
2004.

 

We expect that you will transition into a part time role effective April 1,
2005.  As a part time employee you agree
to provide the Company with assistance relative to the items outlined in Annex
A, a copy of which is attached to this letter. 
To satisfy these duties and responsibilities, you will be available at
least two (2) days per month, either on-site or by phone/e-mail.  In no event will you be required to work more
than 20 hours per week or 32 hours per month. 
In your new capacity, your title will be Senior Vice President,
MedImmune Ventures and you will report to the President of MedImmune Ventures, Inc.  You will also be available to the CEO of
MedImmune, Inc. as needed to provide advice and counsel regarding business
activities.

 

As a part time employee, you will be compensated at a rate of $50,000
annually, payable in semimonthly pay periods (applicable taxes withheld).  For any services rendered as a part time
employee during any calendar month in excess of 16 hours, you shall be
compensated at the lesser of $250 per hour or $1,750 per day.  In addition, all stock options you have that
were vested as of December 31, 2003 (as more fully specified in paragraph
5(c ) of the January 1, 2004 Part-Time Employment Agreement) may be
exercised by you until 90 days after the expiration of this Agreement.  If services rendered as a Part-Time Employee
are in excess of 16 hours during any calendar month, you will submit, by the 15th
of the following month, timesheets that accurately reflect hours worked for the
previous calendar month.  Also, you will
submit regular reports (monthly) on a written and/or oral basis reflecting
progress against the responsibilities outlined in Annex A.

 

 

In addition to the responsibilities and duties highlighted above, you
may be asked to serve as a member of up to four boards of directors as a
representative or designee of the company or any of its subsidiaries (e.g., as
a board member of a MedImmune Ventures, Inc. portfolio company).  For clarity, the hours associated with
meeting the board obligations referenced in this paragraph will not count
toward satisfying the duties and responsibilities outlined in Annex A and will
be in addition to the minimum requirement of two days per month and will not be
compensated at an hourly rate.  Board
responsibilities will be compensated at a rate of $30,000 annually for each
board position held, payable in quarterly payments.  This compensation is in addition to your base
annual payment of $50,000 and may vary with the number of board positions you
are assigned to fill.  Any other
compensation offered to you from a portfolio company of MedImmune Ventures as a
result of the board seat/s you fill on behalf of MedImmune Ventures, will pass
back to MedImmune, Inc. as stipulated in the attached policy statement.

 

MedImmune will also provide you with equipment and supplies necessary
to perform the responsibilities outlined. 
This will include (but is not limited to), administrative assistance,
computer equipment and a cell phone. 
This agreement will be in effect for twelve (12) months, until March 31,
2006, although the description of your role and employment status as outlined
in this letter will be re-evaluated annually, based on the business needs of
MedImmune, Inc. and this agreement may be extended by the written
agreement of the parties

 

Mel, I look forward to continuing to work with you in the future.

 

 

	
  /s/ David M. Mott

  	
   

  	
   

  
	
   

  	
   

  
	
  David M. Mott

  	
   

  
	
  Chief Executive Officer, President

  	
   

  
	
  and Vice Chairman

  	
   

  
	
   

  	
   

  
	
   

  	
  Agreed to and accepted:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Melvin D. Booth

  	
   

  
	
   

  	
  Melvin D. Booth

  

 

 

ANNEX A

 

DUTIES AND
RESPONSIBILITIES

 

The Chief Executive
Officer of MedImmune, Inc. or executive delegate (e.g., President,
MedImmune Ventures, will advise the Employee of the sequence of tasks to be
undertaken, and the order in which Employee is to undertake the following
tasks:

 

1.       Participate in the evaluation, due diligence and
analysis associated with MedImmune Ventures, Inc investment prospects.

2.       Provide advice and counsel to MedImmune Ventures
investment companies as required and through participation as a Board of
Directors member.

3.       Be available to serve on up to four Boards as a
representative of MedImmune Ventures, Inc. 
Said Boards to be mutually agreed upon.

4.       Participate as a member of the investment committee of
MedImmune Ventures.

5.       Be available to provide advice and counsel regarding
general business activities.

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