Document:

exv10w2

 

Exhibit 10.2

	 	 	 
	Restricted Stock Award Agreement

	 	Equity LifeStyle Properties, Inc.
	 

	 	FEIN: 36-3857684
	 

	 	Two North Riverside Plaza
	 

	 	Suite 800
	 

	 	Chicago, Illinois 60606

 

	 	 	 	 	 
	Grantee’s Name

	 	Plan:
	 	1992 Stock Option and Stock
	Grantee’s Address

	 	 	 	Award Plan, as amended and restated
	 
	 	 	 	 
	 	 	Grantee’s ID:                                         

 

	1.	 	Effective ___, you have been granted a Stock Award of ___Shares of
Equity LifeStyle Properties, Inc. (the “Company”).
	 
	2.	 	The Shares subject to this Stock Award will become fully vested on the respective dates
shown below:

	 	 	 	 	 
	Shares (#)	 	Vest Type	 	Full Vesting
	<Insert #>

	 	On Vest Date
	 	<insert date>
	<Insert #>

	 	On Vest Date
	 	<insert date>
	<Insert #>

	 	On Vest Date
	 	<insert date>

	3.	(a)	 	 This Agreement is subject in all respects to the Plan (as defined below). The Plan is incorporated herein by
reference as though set forth in full; unless the context requires otherwise, capitalized terms not defined herein
shall have the respective meanings given to such terms in the Plan.
	 
	 	(b)	 	The authority to manage and control the operation and administration of this Agreement
and interpret the provisions of this Agreement shall be vested in the Committee. Any
interpretation of this Agreement by the Committee and any decision made by the Committee
hereunder is final and binding on all persons.
	 
	 	(c)	 	This Agreement may not be amended or modified except by a written agreement executed by
the parties hereto or their respective successors and legal representatives. The
invalidity or unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement.
	 
	 	(d)	 	This Agreement contains the entire agreement between the parties with respect to the
subject matter hereof and supersedes all prior agreements, written or oral, with respect
thereto.

 

 

By your signature and the Company’s signature below, you and the Company agree that this Stock
Award is granted under and governed by the terms and conditions of the Company’s 1992 Stock Option
and Stock Award Plan (as amended and restated) (the “Plan”).

	 	 	 	 	 	 	 
	Equity LifeStyle Properties, Inc.	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 

	 	Name:

Title:
	 	Date	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Grantee
	 	Dateexv10w1

 

Exhibit 10.1

March 31, 2005

Stephen McGill

Dear Stephen:

I am pleased to confirm to you in writing our offer for the position of Vice President and General
Manager, International, reporting to me. The responsibilities for this position have been in
effect since January 1, 2005, although your physical move to headquarters will happen on or about
April 6, 2005. You will be based at our headquarters in Minnetonka, Minnesota for an undetermined
amount of time. As this time is undetermined and also at your request, we will be retaining you on
the UK pension system.

Your compensation package is summarized below.

	 	•	 	You will receive an annual base salary of $205,000 per year. You will also participate
in the company’s Executive Variable Incentive Plan, which will provide $72,000 at target;
	 
	 	•	 	You will participate in AMS’ headquarters benefits, including medical insurance,
however, as noted, you will be retained on the UK pension system;
	 
	 	•	 	You will be responsible for paying your portion of US federal and Minnesota state taxes
as well as US social security taxes, as do other US employees. We will not require you to
contribute hypothetical taxes. You may, however, incur taxable income for the difference
between our US savings plans (401(k) and Profit Sharing) and UK pension.
	 
	 	•	 	A Cost of Living adjustment was not found to be necessary in the analysis conducted by
Organizational Resources Consultants (ORC), however, we will be providing an effective
purchaser premium as follows:

	 	§	 	May – October, 2005 (6 months)  — $1,000/month
	 
	 	§	 	November, 2005 – April, 2006 (6 months) — $750/month
	 
	 	§	 	May, 2006 – October, 2006 (6 months)  — $500/month

	 	•	 	Also, while a car allowance (or the dollar value) was not deemed necessary per the
analysis of ORC, we are providing an allowance to assist you in transitioning from a
company-paid car to your own arrangements via a payment of $1200/month for 12 months
beginning May, 2005.
	 
	 	•	 	The Company recognizes that your tax situation will be complicated during your
assignment to the US. Therefore the Company has retained Pricewaterhouse Coopers to assist
you with your tax filings. The Company will pay for this service. This service will be
limited to filing of home and host country tax returns

 

 

	 	 	 	and compliance with the local tax
laws of the two countries. Any personal tax planning advice will have to be paid by you
personally.
	 
	 	•	 	The Company will reimburse you with two round trip economy class air fares for you and
Audrey each year. The leave will be within the normal US holiday schedule.
	 
	 	•	 	A customized relocation program is provided as attached. This relocation program
includes two months’ base pay for miscellaneous moving expenses. This amount will be paid
when the move is underway, in April.
	 
	 	•	 	Except in the situation of a termination for cause, AMS agrees to repatriate you, your
family and your belongings (as per our standard relocation policy) at any time during the
first three years of your assignment here in Minnetonka.
	 
	 	•	 	Except in the situation of a termination for cause or your voluntary resignation, AMS
will supplement our normal severance formula, and guarantee you a minimum severance payment
of six months your base salary, and a continuation of benefits for this same period of
time.

This Letter, together with the American Medical Systems, Inc. Employment Agreement, states our
entire understanding of your employment status with AMS.

Your assignment is conditional upon the issue and maintenance of valid residency, work and/or any
other permits necessary to legally reside and work in the United States. Please acknowledge
receipt and your acceptance of this Assignment Letter and Agreement by signing the two (2)
originals and returning one to the Jan Dick.

Sincerely yours,

	 	 	 	 	 
	 	 	 
	Marty Emerson

	 	Date	 	 
	President and CEO
	 	 	 	 

 

	 	 	 	 	 	 	 
	ACKNOWLEDGE AND ACCEPTANCE:
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Employee’s Signature
	 	Dateexv10w2

 

Exhibit 10.2

AMERICAN MEDICAL SYSTEMS, INC.

AGREEMENT

This Agreement (“Agreement”) is between American Medical Systems, Inc., a Delaware
corporation, including all of its direct and indirect subsidiaries (“AMS,” “Company”, “we,”
“us,” “our” or “its”) and Stephen J. McGill, (“Employee,” “you,” or “your”).

This Agreement describes important terms of your employment with AMS, including your right
to compete with AMS, and the ownership, protection and nondisclosure of AMS trade secrets,
confidential information and inventions. This is an enforceable contract which you must
read and sign as a condition of employment with AMS.

AMS is involved in many medical device fields including urology, urogynecology,
gastro-enterology, gynecology and colon-rectal surgery. Our employees utilize and have
access to state of the art research, design, engineering methodologies and equipment in the
course of providing a full line of advanced and innovative medical products and services to
health care providers. AMS also utilizes valuable research, sales and marketing data, and
other confidential information and/or trade secrets as well as sophisticated management and
operational procedures designed to enhance product quality and business efficiency. Our
business is national and international in scope, and we market and sell our products and
services to our customers throughout the United States and the world. The nature of your
services, position and expertise at AMS are such that you will be capable of soliciting AMS’
customers from nearly any location in the world. AMS employees are offered a variety of
desirable benefits which may, depending upon position, include salary or wage, bonuses,
AMS-sponsored insurance, training, and promotional opportunities. In view of the above,
AMS and the Employee recognize the importance of protecting AMS’ rights with respect to
customer and employee goodwill and relationships, confidential information, trade secrets,
and inventions without unduly impairing the Employee’s ability to pursue employment.
Accordingly, AMS and the Employee enter this Agreement in consideration of AMS’ offer of
at-will employment, and the benefits and opportunities to be associated with that
employment.

NOW, INTENDING TO BE LEGALLY BOUND, AMS and the undersigned Employee agree as follows:

	1.	 	AT-WILL EMPLOYMENT You will be employed on an “at-will” basis. As an “at-will”
employee, you are free to terminate your employment with AMS at any time, for any reason.
Similarly, AMS has the right to terminate your “at-will” employment at any time, for any
reason, with or without notice. However, certain provisions of this Agreement will continue
to be enforceable after the termination of your employment, whether your termination is
voluntary or involuntary.

 

 

	2.	 	DUTIES AND RESPONSIBILITIES By entering this Agreement, you agree to perform
the duties and responsibilities that AMS may at any time assign, and you
understand that such duties and responsibilities may, and likely will, change
over time.
	 
	3.	 	NATURE OF BUSINESS AMS is engaged in several highly
specialized and competitive industries. As an AMS
employee, you will have access to valuable
confidential information, trade secrets, processes
and inventions. You may also have or acquire
important responsibilities involving substantial
interaction with, and through which you will develop
close business relationships with, AMS customers
and/or other AMS employees, or consultants. The
ownership, protection, confidentiality, and
nondisclosure of AMS policies, procedures, practices,
trade secrets, and other confidential information are
essential to AMS’ research efforts, financial and
business operations. AMS advises you, and you
acknowledge understanding that, any improper use of,
disclosure or distribution of those policies,
procedures, operating practices, trade secrets, or
other confidential information, or any improper
contact with AMS employees, consultants or customers
as prohibited by this Agreement whether intentional
or inadvertent, would cause serious and irreparable
injury to AMS.
	 
	4.	 	TRADE SECRETS AMS has, and is expected to
develop certain concepts,
products, processes,
information, designs,
ideas, policies and
procedures (collectively
“Trade Secrets”) which it
uses in its business which
give AMS an advantage over
competitors who do not
know, understand or use
these secrets. Trade
Secrets include the
following information:

	 	A.	 	information which in any way relates to AMS’ design, engineering, manufacturing
or management activities, financial condition, financial operations,
purchasing activities, business plans and marketing activities;
	 
	 	B.	 	information acquired or compiled by AMS regarding actual or potential
customers, including their identities, their development prospects, financial
information concerning their business operations, identity and quantity of products
or services purchased from AMS, and all related accounts receivable information;
	 
	 	C.	 	information concerning or resulting from the development of internal policies,
procedures, standards, quality or productivity measures or tools; and
	 
	 	D.	 	any other information (in whatever form) as may, from time to time, be
designated by AMS as “Proprietary” or a “Trade Secret.”

Except as may be required by your employment with AMS or as expressly agreed upon by AMS in
writing, you agree that you will not, during or after your employment with AMS, use or
disclose any Trade Secrets or permit any person to examine or copy any Trade Secrets. If
any of the above classes of information is found by a court to not constitute Trade Secrets,
such information shall constitute “Confidential Information” for purposes of this Agreement.

            /s/ SJM                                            

EMPLOYEE INITIALS

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	5.	 	CONFIDENTIAL INFORMATION AMS also has, and is expected to develop other
information, concepts, designs, policies, and procedures having independent economic value
from not being generally known or ascertainable by proper means which you will or may learn in
the course of employment (collectively “Confidential Information”) but which does not
constitute Trade Secrets as described above. Except as may be required by your employment
with AMS or as expressly agreed upon in writing by an authorized officer of AMS, you agree
that you will not, during or at any time after your employment with AMS, use or disclose any
Confidential Information or permit any person to examine, copy or otherwise receive any
Confidential Information.

	6.	 	COMPLIANCE WITH LAWS, POLICIES, AND PROCEDURES In addition to
abiding by your obligations as described in this Agreement, you agree
that you will comply with present and future policies and procedures
of AMS, as well as applicable local, state, federal, and any
applicable foreign laws, including but not necessarily limited to
those laws governing use, protection and nondisclosure of AMS Trade
Secrets and Confidential Information. You further agree to promptly
notify an AMS Human Resources Department employee or other designee
regarding any question or objection you may have regarding our
compliance with state, federal or foreign laws or regulations.
	 
	7.	 	CONFLICT OF INTEREST You agree to devote your entire productive
time, ability and attention to AMS business.
You further agree that while employed by
AMS you will not directly or indirectly
engage in outside ownership, employment,
consulting or other activities which, in
AMS’ exclusive judgment, conflict with your
employment obligations to AMS unless prior
written consent is obtained from an
authorized AMS officer. While you are
employed by AMS, you are required to give
AMS written notice and secure written
approval before acting as an owner,
employee, consultant to, or providing other
activities for, any entity other than AMS.

	8.	 	RESTRICTIONS ON COMPETITIVE ACTIVITIES

	 	A.	 	You represent and warrant to AMS that you are not currently subject to a
non-competition, confidentiality or other such agreement with a former employer which
prohibits or restricts you from working for AMS, or performing the services which AMS
would like you to perform. Further, you represent and warrant to AMS that you have not
brought any proprietary information, customer lists, trade secrets, confidential
information, or any other property with you which belongs to your former employer. You
agree and understand that AMS does not want you to utilize any such confidential or
proprietary information, trade secrets, or property on AMS’ behalf.
	 
	 	B.	 	“Company Product” means any product, product line or service that has been
designed, developed, manufactured, marketed, sold or is under research, development, or
is being pursued through acquisition or licensure, or has been the subject of
disclosure to AMS in response to a due diligence process by AMS, and during your
employment with AMS you have (1) have marketed or sold, directly

            /s/ SJM                                            

EMPLOYEE INITIALS

3

 

	 	 	 	or indirectly, such product, product line or service, (2) you have received product
or sales training with respect to such product, product line or service, or (3) you
have been provided, or had access to, confidential or proprietary information
relating to such product, product line or service.
	 
	 	C.	 	During your employment with AMS and for a period of two (2) years (or for such
lesser period as may be the maximum period allowed under the law of the jurisdiction in
which AMS may seek to enforce this clause)after your employment with AMS ends, you will
not, alone or in any capacity (e.g., as an advisor, consultant, principal, agent,
partner, officer, director, shareholder, employee or otherwise) with another person or
entity, within any geographical area in which AMS, at any time during your employment
with AMS, was engaged in pursuit through acquisition, research, development,
manufacturing, sale, marketing, or distribution of a Company Product:

	 	1.	 	directly or indirectly participate in or support in any
capacity the manufacture, invention, development, sale, solicitation of sale,
marketing, testing, research or other business aspect of any actual or
projected product, product line or service designed, developed, manufactured,
marketed or sold by anyone other than AMS that performs similar functions, is
used for the same general purposes as or is otherwise competitive with a
Company Product.
	 
	 	2.	 	disrupt, damage, impair, or interfere with the business of AMS
whether by way of interfering with or disrupting AMS’ relationship with
employees, customers, agents, representatives or vendors; or
	 
	 	3.	 	employ or attempt to employ (by soliciting or assisting anyone
else in the solicitation of) any of AMS’ then employees on behalf of any other
entity, whether or not such entity competes with AMS.

	 	D.	 	During the restrictive period, the restrictions contained in this Section will
not prevent you from accepting employment with, or providing consulting services to, a
large diversified organization with separate and distinct divisions that do not
compete, directly or indirectly, with AMS, if. prior to accepting such employment or
providing such consulting services, AMS receives separate written assurances from the
prospective employer and from you, satisfactory to AMS, confirming that you will not
render any services, directly or indirectly, to any division or business unit that
competes, directly or indirectly, with AMS; and an authorized officer of AMS gives
written approval for you to provide the proposed employment or consulting services.
During the restrictive period set forth in this Section, you will inform any new
employer, prior to accepting employment or providing consulting services, of the
existence of this Agreement and provide such employer with a copy of this Agreement.

            /s/ SJM                                            

EMPLOYEE INITIALS

4

 

	9.	 	INVENTIONS 

	 	A.	 	“Inventions” means any inventions, discoveries, improvements and ideas, whether
or not in writing or reduced to practice and whether or not patentable or
copyrightable, made, authored or conceived by you, whether by your individual efforts
or in connection with the efforts of others, and that either (i) relate in any way to
AMS’ business, products or processes, past, present, anticipated or under development,
or (ii) result in any way from your employment by AMS, or (iii) use AMS’ equipment,
supplies, facilities or trade secret information.
	 
	 	B.	 	You agree that all Inventions made by you during the period of your employment
with AMS and for six (6) months thereafter, whether made during the working
hours of AMS or on your own time, will be the sole and exclusive property of
AMS. You will, with respect to any Invention: (i) keep current, accurate, and
complete records, which will belong to AMS and be kept and stored on AMS’
premises; (ii) promptly and fully disclose the existence and describe the nature of
the Invention to AMS in writing (and without request); (iii) assign (and you
hereby assign) to AMS all of your right, title and interest in and to, the
Invention,
any applications you make for patents or copyrights in any country, and any
patents or copyrights granted to you in any country; and (iv) acknowledge and
deliver promptly to AMS any written instruments, and perform any other acts
necessary in AMS’ opinion to preserve property rights in the Invention against
forfeiture, abandonment or loss and to obtain and maintain letters patent and/or
copyrights on the Invention and to vest the entire right and title to the Invention
in AMS, whether during or after your employment with AMS.
	 
	 	C.	 	You represent that, except as disclosed below, as of the date of this
Agreement, you have no right under and will make no claims against AMS with respect to any
inventions, discoveries, improvements, ideas or works of authorship which would
be Inventions if made, conceived, authored or acquired by you during the term of
this Agreement. All inventions which you have already conceived or reduced to
practice and which you claim to be excluded from the scope of this Agreement are
listed below (if none, write “none”):

 

 

 

            /s/ SJM                                            

EMPLOYEE INITIALS

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	 	D.	 	To the extent that any Invention qualifies as “work made for hire” as defined
in 17 U.S.C. § 101 (1976), as amended, such Invention will constitute “work made for
hire” and, as such, will be the exclusive property of the Company.
	 
	 	E.	 	NOTICE: Pursuant to Minnesota law, please be advised that this provision does
ot apply to any invention for which no equipment, supplies, facility, or trade secret
information of AMS was used and which was developed entirely on your own time, and
which does not relate directly to any business of AMS or any of AMS’ actual or
demonstrably anticipated research or development, or which does not result from any
work you perform for AMS.

	10.	 	PENSION BENEFIT The Employer agrees to make monthly contributions to the Employee’s
UK pension plan as per the following formula: age 40 — 45 = 7%, age 46 — 50 = 10%, age 51 —
55 = 11%, and age 55 + = 12%. (Note: age is defined as that on the previous March 1st, and
the percentage is taken on total earnings including bonus.) This is provided for information
only, the Company reserves the right to review, change or otherwise amend this pension
benefit.
	 
	 	 	The Company’s obligation to make a UK pension contribution will be reduced by the amount, if
any, of any Matching Contributions made under the AMS Savings and Investment Plan (SIP) with
respect to the applicable calendar year.

	11.	 	RETURN OF PROPERTY Upon termination of employment or at any earlier
time as AMS may request, you agree to return to AMS any or all of its
property in your possession or control. Such property includes, but
is not limited to, any and all documents (including lab books),
whether on paper, electronic or other media, identification cards,
access cards, keys, credit cards, and computer programs or data,
regardless of where located or how stored.
	 
	12.	 	TERMINATION OF EMPLOYMENT Except in the situation of a termination
for cause or the Employee’s voluntary resignation, AMS will provide a
severance payment of six months’ base salary at the current base
salary rate at the time of termination notice. Medical and dental
benefits at the then current level of company contribution will also
be provided for up to six months if needed by the Employee, to cease
if the Employee is employed prior to the end of the six months’ period
of time. The above stated severance would also be applicable if the
Employer required that the Employee relocate to an area outside of the
United States or outside of Europe.
	 
	13.	 	REMEDIES You understand that violation of this
Agreement would result in immediate and
irreparable injury to AMS; accordingly, you
agree that AMS has the right to obtain an
injunction to specifically enforce the terms
of this Agreement, and to obtain any other
legal or equitable remedies which may be
available. You agree that such injunctive
relief

            /s/ SJM                                            

EMPLOYEE INITIALS

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	 	 	shall be in addition to and not instead of any right to recover money damages. Further, if
you violate this Agreement, you agree that AMS will be entitled to an accounting, and to the
repayment of all profits, compensation, commissions, fees, royalties, or other financial
rewards which you or any other entity or person may realize as a result of your violations.
Further, in the event you violate this Agreement, you agree to pay AMS’ costs and attorneys’
fees incurred in pursuing its rights with respect to this Agreement.
	 
	14.	 	TRANSFERABILITY AMS may transfer or assign this Agreement or its rights to
obligations under this Agreement to any successor or assign, or to any person or entity
that purchases substantially all of the assets and/or stock of AMS. You agree that you will
not transfer or assign this Agreement or any of your rights or obligations under this
Agreement.
	 
	15.	 	ENTIRE AGREEMENT AND MODIFICATION This Agreement contains the entire
agreement between you and AMS relating to its subject matter and
supersedes any and all prior oral or written agreements,
representations or understandings, or inconsistent handbook or policy
manual provisions concerning the same subject matter. Any
modification must be in writing and signed by an authorized officer of
AMS. AMS may amend, modify, rescind or cancel this Agreement at any
time in its sole and absolute discretion.
	 
	16.	 	GOVERNING LAW AND JURISDICTION This Agreement shall be construed and
enforced in accordance with Minnesota law. By execution of this
Agreement, you and AMS agree to submit to personal jurisdiction in the
State of Minnesota, and agree that AMS may initiate any enforcement
action in a Minnesota state or United States federal court, or any
other court of competent jurisdiction.
	 
	17.	 	SEVERABILITY AND JUDICIAL MODIFICATION If any portion of this
Agreement is adjudicated to be invalid or unenforceable, then this
Agreement shall be deemed amended to modify or delete that portion
thus adjudicated invalid or unenforceable. If any portion is deemed
unenforceable by virtue of its scope or limitation, you and AMS agree
that a court of competent jurisdiction shall modify such provision to
make it enforceable to the fullest extent permitted by Minnesota law.
	 
	18.	 	ADVICE OF COUNSEL AND ACKNOWLEDGMENT You acknowledge that you have
been advised to seek your own counsel regarding this Agreement and
that you have so consulted or freely chosen not to seek counsel. By
signing this Agreement, you acknowledge that you have read and
understand this Agreement and agree to all its terms and conditions.
You also acknowledge that this Agreement has not been executed in
reliance upon any representation or promise except those contained
herein, and that AMS has made no representation or guarantee about
employing you for a specified period of time.
	 
	19.	 	MISCELLANEOUS The waiver or breach of any term or
condition of this Agreement shall not be
deemed a waiver of any other or subsequent
breach, whether of like or different kind.
This Agreement may be executed
simultaneously in two (2) or more

            /s/ SJM                                            

EMPLOYEE INITIALS

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	 	 	counterparts, each of which shall be considered an original, but all of which will be one
and the same instrument.
	 
	20.	 	RETENTION OF COPY You agree to retain a copy of this Agreement
for future reference.

	 	 	 	 	 
	 
	 	 	 	 
	By
	 	/s/ Stephen J. McGill	 	 
	 

	 	 

Stephen J. McGill
	 	 
	 
	 	 	 	 
	Its Vice President and General Manager,	 	 
	International	 	 
	 
	 	 	 	 
	Dated:   April 7, 2005	 	 
	 
	 	 	 	 
	AMERICAN MEDICAL SYSTEMS, INC.	 	 
	a Delaware corporation	 	 
	 
	 	 	 	 
	By
	 	/s/ Janet L. Dick	 	 
	 

	 	 

Janet L. Dick
	 	 
	 
	 	 	 	 
	Its Vice President, Human Resources	 	 

            /s/ SJM                                            

EMPLOYEE INITIALS

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