Document:

Exhibit 10.2

[***] Certain information in this document has been omitted and filed separatel with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

AMENDMENT TO SUPPLY AGREEMENT

AMENDMENT TO SITAGLIPTIN CATALYST SUPPLY AGREEMENT effective as of Oct 1st 2013 (this “Amendment”) by and between Codexis, INC, (the “Vendor”), a Delaware corporation, having a place of business at 200 Penobscot Drive, Redwood City, CA 94063 (“CODEXIS”) and MERCK SHARPE and DOHME (the “Company”), having a place of business at One Merck Drive, Whitehouse Station, NJ 08889-0100. (“MERCK”)

W I T N E S S E T H:

WHEREAS, the parties are party to that certain SITAGLIPTIN CATALYST SUPPLY AGREEMENT dated as of February 1st 2012 as the same may have been amended to the effective date of this Amendment (as so amended, the “Agreement”); and

WHEREAS, the parties desire to amend the Agreement to modify the payment terms of the Agreement as more fully set forth below;

NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:
		
	1.
	Additions and changes made to the contract in this Amendment.

		
	1.01
	Payment for amounts owed by MERCK pursuant to the Agreement shall be made by MERCK to Codexis no more than [*] ([*]) days after the date of receipt of the subject invoice. (sec# 9.1 in the Agreement)

		
	1.02
	These amended payment terms will be effective on October 1st 2013.

2.    Miscellaneous
		
	2.01
	Effect of Amendment; Joinder.  Except as expressly changed by this Amendment, the Agreement shall remain in full force and effect in accordance with its stated terms.  The Agreement and the Schedules and Exhibits thereto, as amended by this Amendment and all preceding amendments, set forth the entire understanding of the parties with respect to the subject matter thereof.  There are no agreements, restrictions, promises, warranties, covenants or undertakings other than those expressly set forth or referred to therein.  The Agreement and the Schedules and Exhibits thereto, as amended by this Amendment, supersede all prior agreements and undertakings between the parties with respect to such subject matter.

		
	2.02
	Counterparts.  This Amendment may be executed by the parties in separate counterparts, each of which when so executed and delivered is deemed an original.  All such counterparts together constitute but one and the same instrument. 

		
	2.03
	Definitions. All capitalized terms used but not defined in this Amendment shall have the respective definitions assigned to such terms in the Agreement.

IN WITNESS WHEREOF, the parties have caused this Amendment to be signed by their duly authorized representatives as of the date and year first written above.

	
		
	CODEXIS INC.
	MERCK SHARPE and DOHME Corp.

	 
	 

	 
	 

	By:  [*]
	By:  [*]

	Name:  [*]
	Name: [*]

	Title: [*]
	Title: [*]

	Date:  October 7, 2013
	Date:  October 13, 2013

	 
	 

	 
	 

-1-AMENDMENT TO EMPLOYMENT AGREEMENT

          THIS AMENDMENT (this
“Amendment”), dated November 7, 2013 and effective January 1, 2014, is made by
and between VISHAY ADVANCED TECHNOLOGIES, LTD, (the “Company”), a corporation
organized under the laws of the State of Israel and a wholly-owned subsidiary of
VISHAY PRECISION GROUP, INC. a Delaware corporation (“VPG”), and ZIV SHOSHANI
(the “Executive”). 

         
WHEREAS, the Company and
the Executive are parties to an employment agreement, dated November 17, 2010
(the “Employment Agreement”);

         
WHEREAS, the Company and
the Executive are parties to an amendment to the Employment Agreement dated
December 8, 2011 (the “Prior Amendment”);

         
WHEREAS, Section 8.5 of
the Employment Agreement provides that the Company and the Executive may amend
the Employment Agreement by mutual agreement in writing;

         
WHEREAS, the Company and
the Executive desire to amend the Employment Agreement as set forth herein (the
“Amendment”); and

         
WHEREAS, the Amendment
will replace and supersede the Prior Amendment such that the Prior Amendment is
of no further force and effect. 

          NOW
THEREFORE, in consideration of the
premises and the mutual benefits to be derived herefrom and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows: 

          1. Section
2.2 of the Employment Agreement is hereby amended in its entirety to read as
follows: 

          “2.2
Term. This
Agreement shall become effective as of January 1, 2014. The “Initial Term” of this
Agreement shall commence on January 1, 2014 and continue until December 31,
2014, unless earlier terminated in accordance with the provisions of this
Agreement; provided, however, that at the end of the Initial Term and at the end
of each Extension Year (as defined herein), this Agreement shall automatically
be extended for an additional one-year period (each such additional one-year
period, an “Extension Year,” and, together with the Initial Term, until the Date of
Termination, the “Term”), unless the Company or Executive gives notice to the other
party at least sixty (60) days prior to the end of the Initial Term or the
Extension Year, as applicable, of its or his intention not to extend the Term,
in which case the Term will end at the completion of such Initial Term or
Extension Year, as applicable. An election not to extend the Term shall be
deemed a termination of employment by the party so electing.” 

          2. Section
4.1 of the Employment Agreement is hereby amended in its entirety to read as
follows: 

          “4.1
Base Salary. Effective January 1, 2014, the Company shall pay Executive a base
salary, subject to annual review by the Compensation Committee of the Board of
Directors (the “Compensation
Committee”), of NIS ₪1,875,000 per year (as may be adjusted
from time to time, the “Base
Salary”). The Base Salary includes any
remuneration for overtime work. Such Base Salary shall be paid in accordance
with the Company’s standard salary policies as they exist from time to time,
subject to such deductions, if any, as are required by law or elected by
Executive.”

          3. Section 4.2(a) of the Employment Agreement is hereby
amended in its entirety to read as follows: 

          “(a) With
respect to the Company’s 2013 fiscal year, Executive shall be eligible to earn
an annual performance bonus (“2013
Bonus”), payable in cash, with a target equal
to 75% of Base Salary (the “2013 Target
Bonus”) with a minimum 2013 Bonus of 0% of
Base Salary and a maximum 2013 Bonus of 200% of Base Salary. The actual amount
of 2013 Bonus payable to Executive shall be determined by the Compensation
Committee, and shall be based upon VPG’s achievement of certain annual levels of
Adjusted EBITDA and Adjusted Operating Margin (each, as defined in
Exhibit A
attached hereto and collectively, the “2013
Bonus Performance Goals”). Executive shall be
eligible to earn a 2013 Bonus based on the attainment of the 2013 Performance
Goals set forth on Exhibit A attached hereto. Beginning with the Company’s 2014 fiscal
year and for each fiscal year thereafter during the Term, Executive shall be
eligible to earn an annual performance bonus (“Bonus”), payable in cash, with a
target equal to 100% of Base Salary (the “Target Bonus”) with a minimum Bonus of
0% of Base Salary and a maximum Bonus of 200% of Base Salary. The actual amount
of Bonus payable to Executive shall be determined by the Compensation Committee,
and shall be based upon VPG’s achievement of certain corporate and/or individual
performance goals to be established by the Compensation Committee in its sole
discretion (the “Performance
Goals”).”

          4. Section
4.2(b) of the Employment Agreement is hereby amended in its entirety to read as
follows: 

          “(b) For
the 2013 fiscal year, Executive shall be eligible to earn a 2013 Bonus equal to
50% of Base Salary if 80% of the 2013 Bonus Performance Goals are achieved. In
addition, the amount of 2013 Bonus payable to Executive shall increase by 1.25%
of Base Salary for each additional 1% of the 2013 Bonus Performance Goals which
are achieved for such year. For each 1% of the 2013 Bonus Performance Goals
achieved in excess of 100%, the amount of 2013 Bonus payable to Executive shall
increase by 2.5% of Base Salary. Beginning with fiscal year 2014 and for each
fiscal year thereafter during the Term, Executive shall be eligible to earn a
Bonus equal to 50% of Base Salary if 80% of the annual Performance Goals are
achieved. In addition, the amount of Bonus payable to Executive shall increase
by 2.5% of Base Salary for each additional 1% of the annual Performance Goals
which are achieved for such year. For each 1% of the annual Performance Goals
achieved in excess of 100%, the amount of Bonus payable to Executive shall
increase by 2% of Base Salary. During the Term and in any event, the maximum
level of 2013 Bonus or Bonus for which Executive shall be eligible to earn is
200% of Base Salary.” 

          5. Section
4.2(c) of the Employment Agreement is hereby amended in its entirety to read as
follows: 

          “(c) For
each fiscal year during the Term, any 2013 Bonus or Bonus payable pursuant to
this Section 4.2 shall be paid on the fifth consecutive trading day after the
date that VPG files its Form 10-K with the Securities and Exchange Commission
for the prior fiscal year; provided, however, that if VPG does not file such
From 10-K on or before December 15th of the fiscal year immediately following
the fiscal year with respect to which the 2013 Bonus or Bonus (as applicable)
relates, no 2013 Bonus or Bonus (as applicable) shall be paid in respect of such
prior fiscal year.” 

-2- 

          6. Section
4.4 of the Employment Agreement is hereby amended in its entirety to read as
follows: 

          “4.4
Long-Term Equity Incentives. Commencing on January 1, 2014 and on each January 1 thereafter
during the Term, VPG shall grant Executive an annual equity award under VPG’s
2010 Stock Incentive Program (or any
successor plan or arrangement thereof) having a value approximately equal to
150% of Executive’s Base Salary on such date (the “Annual Equity Grant”). Twenty-five
percent (25%) of each Annual Equity Grant shall be in the form of time-vested
restricted stock units (“RSUs”), and seventy-five percent (75%) shall be in the form of
performance-based restricted stock units (“PBRSUs”). The number of shares of
Common Stock subject to such RSUs and PBRSUs shall be determined by dividing the
applicable amount of the Annual Equity Grant by the average closing price of
Common Stock on the New York Stock Exchange for the five (5) consecutive trading
days immediately preceding each January 1. Subject to Executive’s continued
employment with the Company, the RSUs and PBRSUs shall vest on January 1 of the
third year following their grant, provided that, in the case of the PBRSUs, such
PBRSUs shall vest only to the extent the performance criteria applicable to the
PBRSUs are realized, with such performance criteria and extent of vesting
established by the Compensation Committee, it being agreed that the impact of
acquisitions by the Company shall be included in calculating the achievement of
the applicable performance criteria. In the event of the termination of
Executive’s employment with the Company by the Company without Cause, by
Executive for Good Reason, or as a result of Executive’s death or Disability,
the outstanding RSUs granted pursuant to this Section 4.4 shall immediately vest
and the outstanding PBRSUs granted pursuant to this Section 4.4 shall vest on
their normal vesting date to the extent the applicable performance criteria are
realized. In the event of a Change in Control, all of such outstanding RSUs and
PBRSUs shall immediately vest.” 

          7. Section
6.2(a)(iv) of the Employment Agreement is hereby amended in its entirety to read
as follows: 

          “(iv)
Payment of a pro-rata 2013 Target Bonus or Target Bonus (as applicable), in an
amount equal to the 2013 Target Bonus or Target Bonus (as applicable) multiplied
by a fraction, the numerator of which equals the number of days Executive was
employed with the Company in the Company’s fiscal year of termination of
employment through the date of termination of employment, and the denominator of
which is 365 (the “Pro-Rata
Bonus”), which amount shall be paid within 15
days after the Date of Termination, but not more than 9 days after the end of
the last month of employment.” 

          8. Exhibit
A to the Employment Agreement is hereby amended in its entirety to read as
follows: 

“EXHIBIT A 

2013 Bonus Performance
Goals 

	      	Adjusted Operating
      Margin	      	$19.2 M USD
		 
		
	 	Adjusted EBITDA	 	$31.9 M
  USD

With respect to
fiscal year 2013, (A) 50% of the 2013 Bonus shall be conditioned upon each
objective, and (B) Section 4.2(b) shall be applied separately to each portion of
such 2013 Bonus. 

For purposes of
this Exhibit A: (A) “adjusted operating margin,” means operating income
determined in accordance with U.S. GAAP, and (B) “adjusted EBITDA” means
earnings determined in accordance with GAAP, before interest expense (income),
income tax expense (benefit), depreciation and amortization, and in the case of
both (A) and (B) adjusted to exclude various items that the Board reasonably
determines are not indicative of the intrinsic operating performance of the
business, including restructuring and related severance costs, fixed asset or
inventory write-downs and related purchase
commitment charges, impairment charges for goodwill or indefinite-lived
intangible assets, and individually material one-time gains or charges.”

-3- 

          9. Except as set forth in this Amendment, all other terms and
conditions of the Employment Agreement shall
remain unchanged and in full force and effect. 

          10. This
Amendment may be executed in one or more counterparts, each of which shall for
all purposes be deemed to be an original and all of which shall constitute the
same instrument. 

 

[signature page follows] 

-4- 

          IN WITNESS WHEREOF, the Company has caused this Amendment to
be executed by its duly authorized officer, and Executive has executed this
Amendment, in each case on the 7th day of November, 2013. 

	VISHAY ADVANCED
      TECHNOLOGIES, LTD.
	   
	By:	/s/ Amir Tal
		   
	Title:       	
      Regional Controller Israel

	ZIV SHOSHANI
		   
	
      /s/ 
      
	Ziv
      Shoshani

-5-

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