Document:

exv10w17

Exhibit 10.17

FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT

     THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”) is made
effective the 14th day of May, 2010 by and between FORTIS COMMUNITIES-AUSTIN, L.P., a Delaware
limited partnership (“Seller”) and CIRRUS LOGIC, INC., a Delaware corporation
(“Purchaser”).

WITNESSETH:

     WHEREAS, Seller and Purchaser entered into a certain Purchaser and Sale Agreement with an
Effective Date of March 24, 2010 (the “Agreement”) regarding the purchase of the land
consisting of approximately 70,089 square feet, locally known as 800 West 6th Street
Austin, Texas, as more particularly described in the Agreement; and

     WHEREAS, Seller and Purchaser desire to amend the Agreement as set forth below:

     NOW, THEREFORE, in consideration of the foregoing, the sum of Ten Dollars, and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Purchaser
and Seller agree as follows:

	1.	 	Feasibility Period. Section 8(c) of the Agreement is hereby amended so that the
Feasibility Period expires on the earlier of (i) June 7, 2010, or (ii) Purchaser’s written
waiver of the Feasibility Period.
	 
	2.	 	Purchaser’s Right to Extend the Approval Period. The first sentence of Section 9(c)
of the Agreement is hereby deleted in its entirety, and replaced with the following quoted
language (the balance of Section 9(c) remains the same):
	 
	 	 	“Purchaser may elect to extend the expiration of the Approval Period solely for the purpose of
obtaining the Approvals for up to two (2) periods of thirty (30) days each by, in each instance,
(i) providing Seller written notice of such extension on or prior to the then-scheduled
expiration date of the Approval Period; and (ii) delivering to the Title Company concurrently
with each such notice the cash sum of $75,000.00 as an “Extension Fee”.”
	 
	3.	 	Demolition Work. Section 13(c) of the Agreement is hereby deleted in its entirety,
and replaced with the following quoted language:

          “(c) Demolition Work. In the event that, after expiration of the Feasibility
Period and on or before August 6, 2010, Purchaser (A) sends written notice to Seller requesting
that the Demolition Work (as hereinafter defined) be performed by Seller as provided in this
subsection (the “Demolition Notice”), and (B) delivers to the Title Company as
additional Earnest Money to be held in escrow as provided in this Agreement the sum of
$500,00.00 (which additional earnest money shall be Nonrefundable Earnest Money and shall be
applied to the Purchase Price due at Closing), then on or before a date which is thirty (30)
days after the Demolition Notice Delivery Date (defined below), Seller shall be responsible, at
its sole cost and expense, for (i) remediating any asbestos or other Hazardous Materials present
in the structures or other

			
	 	 	 
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improvements located on the Land in compliance with all recommendations received from Terracon;
(ii) razing and removing all structures, pavement, fixtures, surface improvements, trash,
rubbish and debris on the Land, including without limitation, removal of the slab for the
existing buildings on the Land; (iii) rough grading the Land to level conditions; and (iv)
capping all utilities at the boundary of the Land. Completion of the items listed in clauses
(i), (ii), (iii) and (iv) in the preceding sentence is collectively referred to herein as the
“Demolition Work”.

For purposes of this Agreement, the term “Demolition Notice Delivery Date” shall mean and refer
to the date upon which Seller receives the Demolition Notice. In the event the Demolition
Notice Delivery Date is less than thirty (30) days prior to the then scheduled Closing Date,
then the Closing Date shall be extended to the date which is thirty (30) days after the
Demolition Notice Delivery Date. In addition, if Seller has entered into the Demolition
Contracts, has commenced the Demolition Work and has made commercially reasonable efforts to
complete the Demolition Work, but has not completed the Demolition Work on or before the date
which is thirty (30) days after the Demolition Notice Delivery Date, Seller shall have the right
to extend the date by which the Demolition Work may be completed for up to thirty (30)
additional days (thus providing Seller with a total of sixty (60) days to complete the
Demolition Work) and, if Seller exercises such right, the Closing Date will be extended
accordingly. Finally, if any underground storage tank, Hazardous Materials or any other items
which must be removed from the Property under the requirements set out above with respect to the
Demolition Work are discovered under any building located on the Property, an “Unanticipated
Event” will be deemed to have occurred for purposes of this Agreement and the following
shall apply: (i) Seller shall have the right to extend the date by which the Demolition Work
may be completed for up to an additional sixty (60) days (in addition to the two (2) thirty (30)
day periods referenced above) and if Seller exercises such right, the Closing Date will be
extended accordingly; (ii) Seller will obtain a recommendation from Terracon as to the actions
required to remediate the effects of the Unanticipated Event; and (iii) if the additional costs
incurred or to be incurred by Seller as a result of the Unanticipated Event exceed $200,000.00,
then Seller will have the right to deliver to Purchaser written notice of such excess costs (the
“Excess Costs”) and thereafter Purchaser shall, within ten (10) days after the date of
Seller’s delivery of the notice of Excess Costs to Purchaser, deliver to Seller a written notice
pursuant to which Purchaser either (1) agrees to pay one-half (1/2) of the Excess Costs (in
addition to the Purchase Price and all other sums required to be paid to Purchaser under this
Agreement), or (2) terminates this Agreement, in which event $250,000.00 out of the
Nonrefundable Earnest Money (the “Demolition Consideration”) will be delivered to Seller
notwithstanding any provision in this Agreement to the contrary. If Purchaser fails to timely
deliver the notice required to be delivered by Purchaser under clause (ii) of the immediately
preceding sentence, then Purchaser will be deemed to have elected to pay one-half (1/2) of the
Excess Costs and will thereafter be required to pay Purchaser’s one-half of all Excess Costs as
and when the Excess Costs are incurred.

In connection with performing the Demolition Work, Seller shall enter into one or more contracts
for the Demolition Work (the “Demolition Contracts”), which Demolition Contracts shall
require the contractors to maintain any and all right of way per City of Austin ordinances,
perform the Demolition Work in a good and workmanlike manner in accordance with all applicable
legal requirements, and to perform all other requirements that Seller and Purchaser

			
	 	 	 
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	 	 	may agree to in writing during the Feasibility Period. Upon final completion of the Demolition
Work, Seller shall provide written notice to Purchaser of same, together with reasonable written
evidence that the requirements of this Section 13(c) have been met. Purchaser shall have the
right to inspect the Land and the materials provided by Seller to review Seller’s performance of
the Demolition Work.
	 
	 	 	In the event that Purchaser fails to deliver the Demolition Notice to Seller on or before August
6, 2010 and/or fails to deliver the $500,000.00 in additional Nonrefundable Earnest Money
described above in this Section 13(c) to the Title Company on or before August 6, 2010, then
Seller will have no obligations with respect to the Demolition Work and the Purchase Price shall
be reduced by $200,000.00. If Purchaser delivers the Demolition Notice and the $500,000.00 in
additional Nonrefundable Earnest Money described above and Seller commences the Demolition Work
but thereafter fails to complete the Demolition Work as required herein and Purchaser elects to
waive the performance of the Demolition Work as a Closing Condition (as provided below), then
the Purchase Price shall be reduced by an amount equal to the reasonable estimate of Purchaser’s
contractor to complete the Demolition Work as required herein, and Purchaser shall accept the
Property without the Demolition Work having been done as of the date of the Closing.”
	 
	4.	 	Non-Refundable Earnest Money. Clause (ii) in Section 3(b) of the Agreement is hereby
deleted in its entirety and replaced with the following quoted language (the balance of
Section 3(b) remains the same):

          “(ii) The failure of any Closing Condition (as hereinafter defined) to be satisfied by the
Closing Date as provided in this Agreement due to a Seller default or due to the failure by
Seller to satisfy a Closing Condition (it being specifically agreed and understood that if
Purchaser terminates this Agreement during the Feasibility Period for any reason or if Purchaser
terminates this Agreement after the Feasibility Period for any reason other than a Seller
default or the failure by Seller to satisfy a Closing Condition, then the provisions of this
clause (ii) shall be inapplicable)”.

	5.	 	Purchaser’s Post Termination Obligations. The last sentence in Section 8(e) of the
Agreement is hereby deleted from the Agreement in its entirety.
	 
	6.	 	No Escrow Agreement. Section 15(c) and Section 16(b) of the Agreement are hereby
deleted from the Agreement in their entirety.
	 
	7.	 	UST Removal Work Deadline. Seller and Purchaser agree that the deadline for Seller
to complete the UST Removal Work is July 26, 2010.
	 
	8.	 	No Confidentiality. Section 40 of the Agreement is hereby deleted from the Agreement
in its entirety.
	 
	9.	 	Capitalized Terms. Except as otherwise specified herein, capitalized terms shall
have the same meaning as set forth in the Agreement.

			
	 	 	 
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	10.	 	Construction. In the event of a conflict between the provisions of the Agreement and
this Amendment, this Amendment shall govern and control in all instances.
	 
	11.	 	Ratification of Agreement. Except as set forth in this Amendment, all of the terms,
covenants, conditions, representations and warranties set forth in the Agreement shall
continue in full force and effect and are hereby ratified and affirmed.
	 
	12.	 	Multiple Counterparts/Faxes. Purchaser and Seller agree that this Amendment may be
signed in multiple counterparts each of which shall be binding on the party signing the same
and which together shall constitute a single document, and that faxed reproduction of a
party’s signature shall be given the same legal effect as an original.

[SIGNATURES APPEAR ON THE FOLLOWING PAGE]

			
	 	 	 
	First Amendment to Purchase and Sale Agreement
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     IN WITNESS WHEREOF, the Seller and Purchaser have executed this Amendment on the dates shown
below TO BE EFFECTIVE as of the date set forth in the first paragraph of this Amendment.

	 	 	 	 	 	 	 

	 	 	SELLER:
	 
	 	 	 	 	 	 
	 	 	FORTIS COMMUNITIES-AUSTIN, L.P.,
	 	 	a Delaware limited partnership
	 
	 	 	 	 	 	 
	 	 	By its general partner:
	 	 	FORTIS COMMUNITIES, L.L.C.,
	 	 	a Delaware limited liability company
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ David Cox
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	David Cox	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Manager	 	 
	 

	 	 	 	 	 	 
	 

	 	Date:
	 	May 14, 2010	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	PURCHASER:
	 
	 	 	 	 	 	 
	 	 	CIRRUS LOGIC, INC., a Delaware corporation
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ulf Haberman	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Ulf Haberman	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Director Finance	 	 
	 

	 	 	 	 	 	 
	 

	 	Date:
	 	May 14, 2010	 	 
	 

	 	 	 	 	 	 

			
	 	 	 
	First Amendment to Purchase and Sale Agreement
	 	5exv10w2

EXHIBIT 10.2

HEALTHSTREAM, INC.

NON-QUALIFIED STOCK OPTION AGREEMENT

     THIS NON-QUALIFIED STOCK OPTION AGREEMENT (this “Agreement”) is made and entered into as of
this       day of                     , 20___(the “Grant Date”), by and between HealthStream, Inc., a
Tennessee corporation (together with its Subsidiaries and Affiliates, the “Company”), and
                                         (the “Optionee”). Capitalized terms not otherwise defined herein shall have the
meaning ascribed to such terms in the HealthStream, Inc. 2010 Stock Incentive Plan (the “Plan”).

     WHEREAS, the Company has adopted the Plan, which permits the issuance of stock options for the
purchase of shares of the common stock, no par value per share, of the Company (the “Shares”); and

     WHEREAS, the Company desires to afford the Optionee an opportunity to purchase Shares as
hereinafter provided in accordance with the provisions of the Plan.

     NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound hereby, agree as follows:

     1. Grant of Option.

          (a) The Company grants as of the date of this Agreement the right and option (the “Option”) to
purchase                      Shares, in whole or in part (the “Option Stock”), at an exercise price of
                                                                                 and
 No/100 Dollars ($                    ) per Share, on the terms and conditions
set forth in this Agreement and subject to all provisions of the Plan. The Optionee, holder or
beneficiary of the Option shall not have any of the rights of a stockholder with respect to the
Option Stock until such person has become a holder of such Shares by the due exercise of the Option
and payment of the Option Payment (as defined in Section 3 below) in accordance with this
Agreement.

          (b) The Option shall be a non-qualified stock option. In order to provide the Company with
the opportunity to claim the benefit of any income tax deduction which may be available to it upon
the exercise of the Option, and in order to comply with all applicable federal or state tax laws or
regulations, the Company may take such action as it deems appropriate to ensure that, if necessary,
all applicable federal, state or other taxes are withheld or collected from the Optionee.

     2. Exercise of Option.

          (a) Except as otherwise provided herein, this Option shall become vested and exercisable as
follows:

          (i) Ten percent (10%) of the Shares granted under this Option shall

 

 

vest and become exercisable on the first anniversary of the Grant Date.

          (ii) An additional twenty percent (20%) of the Shares granted under this Option shall
vest and become exercisable on the second anniversary of the Grant Date.

          (iii) An additional thirty percent (30%) of the Shares granted under this Option shall
vest and become exercisable on the third anniversary of the Grant Date.

          (iv) The remaining forty percent (40%) of the Shares granted under this Option shall
vest and become exercisable on the fourth anniversary of the Grant Date.

          (b) This Option shall be exercisable as provided in Section 2(a) if and only if
the Optionee shall have been continuously employed by the Company from the date of this Agreement
through and including such dates.

          (c) Notwithstanding the foregoing, 100% of the Shares granted under this Option shall vest and
become exercisable immediately upon the occurrence of a Change in Control.

     3. Manner of Exercise. The Option may be exercised in whole or in part at any time
within the period permitted hereunder for the exercise of the Option, with respect to whole Shares
only, by serving written notice of intent to exercise the Option delivered to the Company at its
principal office (or to the Company’s designated agent), stating the number of Shares to be
purchased, the person or persons in whose name the Shares are to
be registered and each such person’s address and social security number; provided, that this
Option shall be exercisable only in the lesser of round lots of one hundred (100) Shares or the
total number of Shares remaining under this grant. Such notice shall not be effective unless
accompanied by payment in full of the Option Price for the number of Shares with respect to which
the Option is then being exercised (the “Option Payment”) and, except as otherwise provided
herein, cash equal to the required withholding taxes as set forth by Internal Revenue Service and
applicable state tax guidelines for the employer’s minimum statutory withholding. The Option
Payment shall be made in cash or cash equivalents or in whole Shares previously acquired by the
Optionee and valued at the Shares’ Fair Market Value on the date of exercise (or next succeeding
trading date if the date of exercise is not a trading date), or by a combination of such cash (or
cash equivalents) and Shares. Subject to applicable securities laws, the Optionee may also
exercise the Option (a) by delivering a notice of exercise of the Option and by simultaneously
selling the Shares of Option Stock thereby acquired pursuant to a brokerage or similar agreement
approved in advance by proper officers of the Company, using the proceeds of such sale as payment
of the Option Payment, together with any applicable withholding taxes, or (b) by directing the
Company to withhold that number of whole Shares otherwise deliverable to the Optionee pursuant to
the Option having an aggregate Fair Market Value at the time of exercise equal to the Option
Payment. Unless otherwise provided by the Committee at any time, to satisfy any applicable
withholding taxes, in lieu of cash the Optionee may direct the Company to withhold that number of
whole Shares otherwise deliverable to the Optionee pursuant to the Option.

 

 

     4. Termination of Option. The Option will expire eight (8) years from the date of
grant of the Option (the “Term”) with respect to any then unexercised portion thereof, unless
terminated earlier as set forth below:

          (a) Termination by Death. If the Optionee’s employment by the Company terminates by
reason of death, or if the Optionee dies within three (3) months after termination of such
employment for any reason other than Cause, this Option may thereafter be exercised, to the extent
the Option was exercisable at the time of such termination, by the legal representative of the
estate or by the legatee of the Optionee under the will of the Optionee, for a period of one (1)
year from the date of death or until the expiration of the Term of the Option, whichever period is
the shorter.

          (b) Termination by Reason of Disability. If the Optionee’s employment by the Company
terminates by reason of Disability, this Option may thereafter be exercised, to the extent the
Option was exercisable at the time of such termination, by the Optionee or personal
representative or guardian of the Optionee, as applicable, for a period of three (3) years from the
date of such termination of employment or until the expiration of the Term of the Option, whichever
period is the shorter.

          (c) Termination by Retirement or Early Retirement. If the Optionee’s employment by
the Company terminates by reason of Retirement or Early Retirement, this Option may thereafter be
exercised by the Optionee, to the extent the Option was exercisable at the time of such
termination, for a period of three (3) years from the date of such termination of employment or
until the expiration of the Term of the Option, whichever period is the shorter.

          (d) Termination for Cause. If the Optionee’s employment by the Company is terminated
for Cause, this Option shall terminate immediately and become void and of no effect.

          (e) Other Termination. If the Optionee’s employment by the Company terminates for any
reason other than for Cause, death, Disability, Retirement or Early Retirement, this Option may be
exercised, to the extent the Option was exercisable at the time of such termination, by the
Optionee for a period of three (3) months from the date of such termination of employment or the
expiration of the Term of the Option, whichever period is the shorter.

     5. No Right to Continued Employment. The grant of the Option shall not be construed
as giving the Optionee the right to be retained in the employ of the Company, and the Company may
at any time dismiss the Optionee from employment, free from any liability or any claim under the
Plan.

     6. Adjustment to Option Stock. The Committee may make equitable and appropriate
adjustments in the terms and conditions of, and the criteria included in, this Option in
recognition of unusual or nonrecurring events (and shall make the adjustments for the events
described in Section 4.2 of the Plan) affecting the Company or the financial statements of
the Company or of changes in applicable laws, regulations, or accounting principles in accordance
with the Plan, whenever the Committee determines that such event(s) affect the Shares. Any

 

 

such adjustments shall be effected in a manner that precludes the material enlargement of rights and
benefits under this Award.

     7. Amendments to Option. Subject to the restrictions contained in the Plan, the
Committee may waive any conditions or rights under, amend any terms of, or alter, suspend,
discontinue, cancel or terminate, the Option, prospectively or retroactively; provided that any
such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that
would materially and adversely affect the rights of the Optionee or any holder or beneficiary of
the Option shall not to that extent be effective without the consent of the Optionee, holder or
beneficiary affected.

     8. Limited Transferability. During the Optionee’s lifetime, this Option can be
exercised only by the Optionee. This Option may not be assigned, alienated, pledged, attached,
sold or otherwise transferred or encumbered by the Optionee other than by will or the laws of
descent and distribution. Any attempt to otherwise transfer this Option shall be void. No
transfer of this Option by the Optionee by will or by laws of descent and distribution shall be
effective to bind the Company unless the Company shall have been furnished with written notice
thereof and an authenticated copy of the will and/or such other evidence as the Committee may deem
necessary or appropriate to establish the validity of the transfer.

     9. Reservation of Shares. At all times during the term of this Option, the Company
shall use its best efforts to reserve and keep available such number of Shares as shall be
sufficient to satisfy the requirements of this Agreement.

     10. Plan Governs. The Optionee hereby acknowledges receipt of a copy of (or
electronic link to) the Plan and agrees to be bound by all the terms and provisions thereof. The
terms of this Agreement are governed by the terms of the Plan, and in the case of any inconsistency
between the terms of this Agreement and the terms of the Plan, the terms of the Plan shall govern.

     11. Severability. If any provision of this Agreement is, or becomes, or is deemed to
be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or the Award, or
would disqualify the Plan or Award under any laws deemed applicable by the Committee, such
provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot
be construed or deemed amended without, in the determination of the Committee, materially altering
the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction,
Person or Award, and the remainder of the Plan and Award shall remain in full force and effect.

     12. Notices. All notices required to be given under this Award shall be deemed to be
received if delivered or mailed as provided for herein to the parties at the following addresses,
or to such other address as either party may provide in writing from time to time.

 

 

	 	 	 

	To the Company:

	 	HealthStream, Inc.

Cummins Station, Suite 450

209 10th Avenue South

Nashville TN 37203
	 
	 	 
	To the Optionee:

	 	The address then maintained with respect to the Optionee in the
Company’s records.

     13. Governing Law. The validity, construction and effect of this Agreement shall be
determined in accordance with the laws of the State of Tennessee without giving effect to conflicts
of laws principles.

     14. Resolution of Disputes. Any dispute or disagreement which may arise under, or as
a result of, or in any way related to, the interpretation, construction or application of this
Agreement shall be determined by the Committee. Any determination made hereunder shall be final,
binding and conclusive on the Optionee and the Company for all purposes.

     15. Successors in Interest. This Agreement shall inure to the benefit of and be
binding upon any successor to the Company. This Agreement shall inure to the benefit of the
Optionee’s legal representative and assignees. All obligations imposed upon the Optionee and all
rights granted to the Company under this Agreement shall be binding upon the Optionee’s heirs,
executors, administrators, successors and assignees.

     IN WITNESS WHEREOF, the parties have caused this Non-Qualified Stock Option Agreement to
be duly executed effective as of the day and year first above written.

	 	 	 	 	 
	 	HEALTHSTREAM, INC.

 	 
	 	By:  	 	 
	 	 	 	 
	 	
OPTIONEE:

 
Signature

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