Document:

Exhibit
10.1

 

Revised 10/14/03

 

ALBANY
MOLECULAR RESEARCH, INC.

 

AMENDED
AND RESTATED

 

TECHNOLOGY DEVELOPMENT INCENTIVE
PLAN

 

Section 1.  Purpose.  This Technology Development Incentive Plan
(the “Plan”) is adopted as a performance incentive for employees of Albany
Molecular Research, Inc. and its subsidiaries (the “Company”) to stimulate and
encourage the development of novel and innovative technology.

 

Section 2.  Administration.  The Plan shall be administered by a committee
(the “Administrator”) the members of which shall be the Chief Executive Officer
of the Company, the Chief Financial Officer of the Company and such employees
of each of the Company’s major business divisions as shall be determined by the
Board of Directors of the Company. 
Action by the Administrator with respect to the Plan shall require the
affirmative vote of a majority of all of the committee’s members and any
disputes shall be resolved by the Chief Executive Officer.  All determinations made by the Administrator
shall be final and binding upon all Participants.

 

Section 3. Participants.  Any employee of the Company shall be eligible
to participate in the Plan (each a “Participant”).  Any Participant who is determined by the
Administrator to be the inventor or co-inventor of Intellectual Property (as
defined below) which directly results in licensing, royalty or milestone
revenue recordable by the Company in accordance with generally accepted
accounting principles shall be entitled to receive technology incentive
compensation (“TIC”) in accordance with this Plan.  Contract revenue recorded by the Company
resulting from research, manufacturing or other services performed by the
Company shall not result in TIC. However, any licensing, royalty or milestone
revenue generated as a result of Intellectual Property invented during the
performance of any such services would result in TIC, calculated in accordance
with Section 7 below.  Notwithstanding
the existence of this Plan, the Company shall own all right, title and interest
in any Intellectual Property developed by any Participant during such
Participant’s employment with the Company as further described in the Employee
Innovation, Proprietary Information and Post-Employment Activity Agreement.

 

For purposes of this Plan (a) “Intellectual Property”
shall mean inventions, Patent Rights, copyrights, manufacturing processes, or related
matter; and (b) “Patent Rights” shall mean all rights in inventions or
discoveries covered by invention disclosures, patents, patent applications,
patent extensions, certificates of invention and applications for certificates
of invention, or other equivalent property rights in the U.S. or any other
country, together with any originals, provisionals, divisionals, continuations
or continuations-in-part which name an employee of the Company as either sole
or joint inventor.

 

Section 4.  Project Initiation:

 

(a)           In order
to be eligible for TIC, each project (a “Project”) under which Intellectual
Property may be developed must be presented to the Company and the Administrator
along with any record of invention.  All
Invention Record submissions should contain a discussion of potential commercial
utility and a brief description of a potential

 

 

market for the technology.  Within 60 days of such presentation, the
Company will make a determination whether the Company shall support the Project
either with (i) significant resources (“Significant Support”) or (ii) through
providing only laboratory space, chemicals, solvents and assistance in
preparing and processing grant applications (“Limited Support”).

 

(b)           If the
Company determines to provide Limited Support to a Project, the Project will
automatically be classified as a Category 1 Project.  If, prior to any substantive progress being
made on the Project, as determined by the Administrator, the Company elects to
provide Significant Support to the Project, the Project would become a Category
3 Project.

 

(c)           If the
Company initially determines to provide Significant Support to a Project, the
Project will be classified as a Category 3 Project.  For any project for which significant support
is being provided, but the Company then determines to provide only Limited
Support to such Project, the Project will automatically revert to a Category 2
Project.

 

(d)           If the
Company initially determines to provide significant support to a project, then
fails to provide significant support in the two-year period following such
classification, the Project will automatically revert to a Category 1 Project.

 

(e)           An update
for each Project shall be presented to the Administrator by the Participants at
least every six months.

 

Section 5.  Project Categories.  Each Project submitted to the Company shall
be evaluated by the Administrator and the Administrator shall assign the
Project to one of the following categories:

 

(a)   Category
1.  Category 1 Projects shall earn
aggregate TIC for all Participants in such Project at a rate of 10%, and shall
have the following characteristics, either:

 

(A)                   (i)             Employee(s)
works on Project solely on his/her own time.

(ii)           The
Company has indicated that it will provide only Limited Support for the
Project; or

The Company initially determines to provide
significant support to a project, then fails to provide significant support in
the two-year period following such classification; or

 

The Company elects to provide significant support, but
not until after substantial progress has been made as determined by the
Administrator; or

 

(B)   Licensing,
royalty or milestone revenue arises out of a customer contract in which one or
more employees is named inventor or co-inventor on a customer-owned patent.

 

(b)   Category
2.  Category 2 Projects shall earn
aggregate TIC for all Participants in such Project at a rate of 5%, and shall
have the following characteristics,

 

(i)            Employee(s)
work on the Project soley on his/her own time.

 

2

 

With the approval of the Company’s senior management,
the relevant Participant(s) may work on the Project on Company time.

(ii)           The
Company initially provides Significant Support but then elects to provide only
Limited Support to the Project.

 

(c)   Category
3:  Category 3 Projects shall earn
aggregate TIC for all Participants in such Project at a rate of 2% and shall
have the following characteristics, either:

 

(A)                  Employee(s)
identifies novel technology for which the Company provides Significant
Support.  With the approval of the
Company’s senior management, the applicable Participants may work on the
project on Company time; or

(B)                   After
initially declining to provide Significant Support to the Project, but prior to
any substantive progress, as determined by the Administrator, made on the
project, the Company elects to provide Significant Support; or

(C)                   Novel
technology is identified through any of the following processes initiated by
the approval of the Company’s customer or the Company’s senior management:

 

(i)          Specified
internal project;

(ii)         Employee
“brainstorming” session; or

(iii)        Request
to perform work.

 

With the approval of the Company’s senior management,
the relevant Participant(s) may work on the Project on Company time; or

(D)                   Novel
Technology developed as a result of internal research and development performed
by an employee(s) during normal business hours in the ordinary course of their
normal job responsibilities.

 

Section 6.  Allocation.  The Participant(s) involved in identifying
and developing the Intellectual Property with respect to any Project will
propose, in consultation when necessary with the Company’s lead patent
attorney, an allocation of aggregate TIC earned in respect of the Project among
the co-inventors based on their relative contributions towards identifying and
proving the feasibility of the Project.  In cases where agreement cannot be obtained,
the Administrator will make a final determination of the allocation of
aggregate TIC, which determination shall be final and binding.  The Administrator in its sole discretion may,
but shall not be required to, consult with the Company’s patent counsel in
making such determination.

 

Section 7.  Determination of Technology Incentive
Compensation.  TIC for each Project
will be determined on a quarterly basis by multiplying (x) the applicable TIC
rate for the Project as determined pursuant to Section 5 by (y) the amount of
licensing, royalty or milestone revenue received by the Company resulting
solely or directly from Intellectual Property developed under the Project,
reduced by any and all costs (excluding TIC) incurred by the Company that
directly relate to the development or continued support of the technology
including, without limitation, direct compensation expense, direct costs of
materials (included

 

3

 

in materials is any
specialty equipment or asset or glassware that can only be utilized by the
Company for the technology developed, limited to a period of two years
subsequent to last use), direct allocated overhead, other expenses such as
legal costs and direct management support.  The TIC for any Project as so determined shall
be allocated among Participants as determined in accordance with Section 6.

 

Section 8.  Effective Date.  The Plan shall become effective on November
16, 2000.  The Administrator will review
each Project in process and determine if substantive work has been initiated.  A determination will be made by the
Administrator for each Project whether to grandfather that Project under the
original Technology Development Incentive Plan which determination shall be
final and binding on the Participant(s).

 

Section 9.  No Assignments.  A Participant’s rights, if any, in any TIC
payable under the Plan may not be assigned or transferred except by will or by
the laws of descent and distribution, and are not subject to attachment,
garnishment, judicial order, execution or other creditors• processes.  The rights and obligations of the Company
under the Plan may be assigned by the Company to a successor to substantially
all or any part of its business and thereupon the Company will be relieved of
any obligation it may have hereunder.  All
references to the Company herein shall, unless otherwise indicated, be
construed to include a successor to all or any part of the Company business.

 

Section 10.  Integration.  This Plan supersedes all prior plans,
agreements, arrangements and understandings relating to the subject matter
hereof, including, without limitation, the Company’s predecessor Technology
Incentive Plan.  However, this plan does
not adversely affect the rights of any Participant currently entitled to TIC
under the predecessor Plan.

 

Section 11.  Amendments and Termination.  The Board of Directors of the Company may, at
any time, amend or discontinue the Plan, but no such amendment or termination
shall adversely affect the rights of any Participant to TIC relating to
Intellectual Property invented or discovered prior to any such amendment or
termination.

 

Section 12.  General.

 

(a)         The
place and administration of the Plan shall be conclusively deemed to be within
the State of Delaware and the validity, construction, interpretation,
administration and effect of the Plan, and its rules and regulations, and the
rights of any and all persons having or claiming to have an interest therein or
thereunder shall be governed by, and determined exclusively and solely in
accordance with, the laws of the State of Delaware.

 

(b)           Nothing
contained in the Plan and no action taken pursuant to the provisions of the
Plan shall create or be considered to create a trust or fund of any kind or
fiduciary relationship between the Company and any Participant or any of its
other employees or a security interest of any kind in any property of the
Company in favor of any Participant or any other person.

 

4Exhibit
10.8

EXECUTION
COPY

AMENDED
and RESTATED

OUTSOURCE AGREEMENT

                THIS AMENDED and RESTATED
OUTSOURCE AGREEMENT (this “Agreement”), dated as of April 19, 2006,
is made by and between GKK Manager LLC, a Delaware limited liability company (the “Manager”), and SL Green Operating
Partnership, L.P., a Delaware limited
partnership (“SL Green”).

RECITALS

                WHEREAS, Manager provides certain management services
to Gramercy Capital Corp., a Maryland Corporation (the “Parent”), and GKK
Capital LP, a Delaware limited partnership (the “Operating Partnership” and collectively with the Parent, the “Company”),
pursuant to that certain Management
Agreement, dated as of August 2, 2004, by and among the Company and the
Manager, as amended and restated as of the date hereof (the “Management
Agreement”);

                WHEREAS, the Manager desires to avail itself of the
experience, advice and assistance of SL Green to provide various services
related to the Parent’s obligations as a publicly registered and traded
company; and

                WHEREAS, SL Green is willing to perform the services
described below on the terms and conditions hereinafter set forth;

                WHEREAS, the Company has agreed
in the Management Agreement to reimburse Manager for certain Expenses (as defined in the Management
Agreement) incurred in connection with the Services obtained from SL
Green or other third party service providers;

                WHEREAS, the Manager and SL Green entered into the
original outsource agreement as of August 2, 2004 (the “Original Outsource
Agreement”); and

                WHEREAS, the Manager and SL Green desire to amend and
restate the Original Outsource Agreement in
its entirety.

AGREEMENT

                NOW THEREFORE, in consideration
of the mutual agreements herein set forth and intending to be legally
bound, the parties hereto agree that the Original Outsource Agreement shall be
amended and restated in its entirety as follows:

                1. Services.  SL Green agrees to provide the following services
(the “Services”) to the Manager upon
its request:

                                (1) assisting the Company in complying with all regulatory requirements, including,
but not limited to, any filings, periodic reporting, and communications,
applicable to the Company required under the Securities Act of 1933, as
amended;

                                (2) assisting the Company complying with all
regulatory requirements applicable to the Company in respect of its business
activities, including preparing or causing to be

 

prepared
all financial statements required under applicable regulations and all reports
and documents, if any, required under the Securities Exchange Act of 1934, as
amended;

                                (3) assisting the Company in complying with all
regulatory requirements applicable
to the Company required by the New York Stock Exchange;

                                (4) assisting the Company with all regulatory
requirements applicable to the Company required by the Sarbanes-Oxley
Act of 2002;

                                (5) communicating on the Company’s behalf with the holders of any of the Company’s
equity or debt securities as required to satisfy the reporting and other
requirements of any governmental bodies or
agencies or trading markets and to maintain effective relations with such
holders;

                                (6) administering the issuance
of any stock under the stock incentive plan to the Company’s executive officers
or the employees of the Manger; and

                                (7) performing such other services as may be required from time to time for management and other activities relating to the
Services as the Manager shall reasonably request.

                2. Term.  This
Agreement shall remain in full force and effect throughout the term of the Management
Agreement as extended in accordance therewith and terminate simultaneously with
the expiration or earlier termination of the Management Agreement, except that
SL Green may terminate this Agreement at any time on 60 days notice to Manager.

                3. Fees.

                For the Services, SL Green will receive from Manager
an annual fee, equal to $1,250,000 per year, payable in monthly installments in
arrears on or before the fifth day after the month end. The amount of the fee hereunder shall be increased by
3% over the prior year’s charge in each year after the first year. Manager shall be directly obligated to
pay accrued fees hereunder, whether or not reimbursed by the Company for
such fees as contemplated by the Management Agreement.

                4. Confidentiality.

                (a) SL Green shall keep
confidential any nonpublic information obtained relating to its performance
of the Services and shall not disclose any such information (or use the same
except in furtherance of its duties under
this Agreement), except as permitted or contemplated by the Management Agreement
or as required by regulatory or other governmental authorities. The provisions of this Section 4(a) shall
survive the expiration or earlier termination of this Agreement.

                (b) Promptly after the expiration
or earlier termination of this Agreement, SL Green shall return to Manager all confidential and
proprietary information provided to or obtained by SL Green pursuant to or in connection with this Agreement
and the performance of the Services hereunder, including all copies and extracts thereof in whatever form, in its
possession or under its control.

                5. Notices.  All notices, requests, demands and other communications required or
permitted hereunder shall be in writing and mailed, faxed or delivered by hand
or courier service:

                (a) If to Manager, to:

 2
 

 

 

GKK Manager LLC

420 Lexington Avenue

New York, New York 10170

Attention: Office of General Counsel

                (b) If to SL Green, to:

SL Green Operating Partnership, L.P.

420 Lexington Avenue

New York, New York 10170

Attention: General Counsel

                6. Cooperation; Further Assistance.  Each party hereto shall cooperate with and
provide assistance to the other parties consistent with the terms and
conditions hereof to enable (a) the full performance of all
obligations hereunder, and (b) the review and audit of books and records
as they relate to the provision of the Services; such cooperation and
assistance to include, without limitation, providing the other parties and
their respective representatives and agents (including, without limitation,
outside auditors) with reasonable access, during normal business hours and upon
reasonable advance notice, to its employees,
representatives and agents and its books, records, offices and properties
relating to the Services.

                7. Entire Agreement.  Except for the applicable provisions of the
Management Agreement, this Agreement shall constitute the entire
agreement among the parties relating to the subject matter hereof and shall supersede all other prior or contemporary
agreements, understandings, negotiations and discussions whether oral or
written.

                8. Amendment and
Modification; Assignment.  Neither this
Agreement nor any of the terms or provisions hereof may be changed,
supplemented, waived, modified or assigned except by a written instrument executed by the parties hereto (or in
the case of a waiver, by the party granting such waiver); provided,
however, Manager may assign this Agreement to any affiliate to whom
Manager assigns the Management Agreement
(pursuant to the terms thereof).

                9. Counterparts.  This Agreement may be executed in two or more
counterparts, each of which may be signed by any of the parties hereto,
each of which shall be deemed an original and all of which together shall constitute one and the same
instrument.

                10. Governing
Law. This Agreement and all questions relating to its validity,
interpretation, performance and enforcement shall be governed by, construed,
interpreted and enforced in accordance with the internal laws of the State of
New York, without regard to any conflicts of laws principles thereof.

                11. Invalid Provisions.  If any provision of this Agreement is held to be
illegal, invalid or unenforceable
under present or future laws, such provision shall be fully severable, this
Agreement shall be construed and enforced as if such illegal, invalid or
unenforceable provision had never comprised a part of hereof and the remaining
provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid or
unenforceable provision or by its severance herefrom.

 3
 

 

                12. Definitions and Interpretation.

                                (a) Defined Terms.
Capitalized terms used but not defined herein shall have the meanings ascribed
thereto in the Management Agreement.

                                (b) Singular
and Plural Forms.  The use herein of the
singular form shall also denote the plural form, and the use herein of
the plural form shall denote the singular form, as in each case the context may require.

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                IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the
day and year first written above.

	
   

  	
  GKK MANAGER LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SL GREEN OPERATING PARTNERSHIP, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: Andrew S. Levine

  
	
   

  	
   

  	
  Title: Executive Vice President

  

 

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