Document:

clvs-ex1036_743.htm

 

Exhibit 10.36

EXECUTION COPY

 

May 27, 2015

 

 

Daniel Muehl

3081 Castle Peak Ave.

Superior, CO  80027

 

Re:  Offer of Employment

 

Dear Dan:

 

It is with great pleasure that I write to confirm Clovis Oncology, Inc.’s offer of employment to you as Vice President, Finance.  This offer is contingent on verification of your eligibility to work within the United States.

 

In light of your duties and responsibilities as Vice President, Finance, you will be considered a full-time salaried exempt employee.  As discussed, you will report to me, Erle Mast, Executive Vice President  and Chief Financial Officer.  However, your job duties, responsibilities, job title and reporting relationship may evolve and change over time.  

 

We would like you to begin your full-time employment with Clovis as soon as possible, no later than Monday, July 6, 2015.  Your initial base salary will be $295,000.00 per year.  Your salary will be subject to all legally required deductions and tax withholdings as well as any other voluntary deductions and withholdings authorized by you.  Your salary will be paid in accordance with the Company’s normal payroll cycle. 

 

In addition to your base salary, you will be eligible to participate in the Company’s bonus plan.  The bonus plan is designed and approved by the Company’s Board of Directors on an annual basis and your participation in the plan will be based upon the level assigned to you by the Board.  The current target bonus rate for your position is 35% of based salary.  Amounts payable under the bonus plan, your level of participation, and the plan itself, may be changed at any time by the Board based upon the needs of the Company’s business, market data, and other factors deemed relevant by the Board.  In consideration of your mid-year start date, any bonus payment to be made for calendar year 2015 will be pro-rated to no less than 75% of the annual amount.

 

The Company has established and maintains the Clovis Oncology, Inc. 2011 Stock Incentive Plan (the “Plan”).  Subject to final approval by the Plan’s administrative committee, you will be granted the option to purchase 35,000 shares of the Company’s common stock.  The granted option will be subject to the terms and conditions of the Plan as well as a related option grant agreement.  You will be provided with a copy of the Plan and the grant agreement at the time the option is granted. 

 

Upon commencing your employment, you will be eligible to participate in the Company’s various employment benefit programs pursuant to the terms and conditions of those programs.  While the Company reviews its benefit programs on a periodic basis and may change or terminate its employment benefits from time to time.  You will also be eligible to participate in the Company’s current paid vacation policy and will be eligible to accrue, four weeks of vacation per year in accordance with the terms and conditions of the policy.

 

As a condition of employment, you will be required to sign the Company’s standard Confidential Information, Invention Assignment and Non-Solicitation Agreement (“Confidential Information Agreement”).  Among other things, the Confidential Information Agreement precludes you from using or disclosing any confidential information except in connection with your work on the Company’s behalf.  It is Clovis’ policy that its employees maintain confidential any information that they may have received or had access to while working for previous employers.  Also, Clovis employees should not bring to Clovis any documents or property belonging to their former employers.  Please advise us immediately if you are subject to any agreements with previous employers or third parties (such as confidentiality agreements, non-solicitation agreements, non-competition agreements, etc.) that may limit or in any way impact your ability to perform your job responsibilities at Clovis.  

 

 

 

It is important for you to understand that this employment offer letter is not intended to create or constitute an employment contract between you and Clovis.  Your employment relationship will be considered “at will.”  This means that either you or the Company may terminate the employment relationship at any time for any lawful reason. 

 

If this offer meets with your approval, please indicate your acceptance by signing this letter in the space provided below and return a copy of the signed letter to Sue Fattor, Associate Director of Human Resources no later than Tuesday, June 2, 2015 by mail, or email to sfattor@clovisoncology.com.  The Boulder address is 2525 28th Street, Suite 100, Boulder, CO.  Of course, should you have any questions regarding the Company’s employment offer, please feel free to contact me on my cell phone 720-220-9122, or in my office at 303-625-5002.

 

Dan, we are delighted you are considering joining our team.  

 

Sincerely,

 

/s/Erle Mast

 

 

Erle Mast

Chief Financial Officer & Executive Vice President

 

				
	
Accepted:
	
/s/Daniel W. Muehl
	
 
	
Date:  May 27, 2015

	
Printed Name:
	
Daniel W. Muehl
	
 
	
 

 

 

2clvs-ex1037_742.htm

Exhibit 10.37

EXECUTION COPY

 

May 9, 2016

The Compensation Committee of the
Board of Directors of Clovis Oncology, Inc.

Re: Waiver of Base Salary

Ladies and Gentlemen:

Effective the date hereof, I hereby voluntarily waive my right to receive any “Base Salary” (as defined in my Employment Agreement with Clovis Oncology, Inc. (the  Company”), dated August 24, 2011 (my “Employment Agreement”)) in excess of an amount equal to $1.00, plus the cost of the employee portion of any premiums to be paid pursuant to any health and welfare benefit plans maintained by the Company and any tax withholdings related to health and welfare benefits, with such waiver to continue in effect until the earliest to occur of (i) the Company entering into a definitive agreement with respect to a transaction that if consummated would constitute a Change in Control (as defined in my Employment Agreement) or the public announcement of a proposal or transaction that if consummated would constitute a Change of Control, (ii) approval by the U.S. Food and Drug Administration to commercially distribute, sell or market Rucaparib, and (iii) my termination of employment pursuant to Section 8(d) or Section 8(e) of my Employment Agreement.  For purposes of clarity, I anticipate that the Base Salary I received prior to the waiver contemplated by this letter will be reinstated following the occurrence of any of the foregoing events, and that any Severance Benefits (as defined in my Employment Agreement) to which I may become entitled will be calculated based on the Base Salary I received prior to the waiver contemplated by this letter.  Further, to the extent I become eligible for any disability insurance benefits that are determined by reference to my Base Salary while the waiver contemplated by this letter is in effect, I anticipate that the Base Salary I received prior to the waiver contemplated by this letter will be used to determine such benefits.  I hereby acknowledge and agree that I consent to the reduction of my Base Salary resulting from the waiver contemplated by this letter, and that such reduction will in no way constitute “Good Reason” for purposes of my Employment Agreement.  

 

Sincerely,

/s/ Patrick J. Mahaffy

Patrick J. Mahaffyextr-ex41_14.htm

AMENDMENT NO. 4 TO 

AMENDED AND RESTATED RIGHTS AGREEMENT

 

 

This Amendment No. 4 ("Amendment No. 4") amends the Amended and Restated Rights Agreement dated as of April 26, 2012, as amended to date.  This Amendment No. 4 is effective as of May 5, 2016 (the “Amendment No. 4 Effective Date”), between Extreme Networks, Inc., a Delaware company (the "Company"), and Computershare Inc., a Delaware corporation, “successor-in-interest to Computershare Shareowner Services LLC,” as rights agent (the “Rights Agent”). Capitalized terms used herein but not defined shall have the meanings given to them in the Amended and Restated Rights Agreement. 

 

RECITALS

 

A.     The Company and the Rights Agent entered into that certain Amended and Restated Rights

Agreement, dated as of April 26, 2012, as amended in Amendment No. 1 dated April 30, 2013, Amendment No. 2 dated May 19, 2014, and Amendment No. 3 dated May 14, 2015 (collectively referred to as the "Rights Agreement").

 

B.     The Board of Directors of the Company has determined that it is desirable and in the best interests of the Company and its shareholders for the Company to amend the Rights Agreement in order to extend the term of the Rights Agreement to May 31, 2017.

 

C.    Accordingly, the parties hereto desire to amend the Rights Agreement to extend the term of the Rights Agreement to May 31, 2017 pursuant to the terms of this Amendment No. 4.

 

D.    The Company has delivered to the Rights Agent a certificate stating that this Amendment No. 4 complies with Section 27 of the Rights Agreement and has directed the Rights Agent to amend the Rights Agreement as set forth herein.

 

NOW, THEREFORE, in consideration of the promises and the mutual agreements herein set forth, the parties hereto agree as follows:

 

1.     Clause (i) of Section 7(a) of the Rights Agreement is hereby amended to read in its entirety as

follows: "May 31, 2017 (the "Final Expiration Date"),".

 

2.     The Rights Agreement, including all Exhibits attached thereto, is amended such that all references to the date May 31, 2016 are hereby amended to reference the date May 31, 2017.

 

3.     This Amendment No. 4 shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts to be made and performed entirely within such State; provided, however, that all provisions regarding the rights, duties and obligations of the Rights Agent shall be governed by and construed in accordance with the laws of the state of New York applicable to contracts made and to be performed entirely within such state.

 

4.     This Amendment No. 4 may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. A signature to this Amendment No. 4 executed and/or transmitted electronically shall have the same authority, effect, and enforceability as an original signature.

    

5.     If any term, provision, covenant or restriction of Amendment No. 4 and/or the Rights Agreement as amended by this Amendment No. 4 is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of Amendment No. 4 and/or the Rights Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated; provided, however, that if any such excluded term, provision, covenant or restriction shall adversely affect the rights, immunities, duties or obligations of the Rights Agent, the Rights Agent shall be entitled to resign immediately.

 

[SIGNATURE PAGE FOLLOWS]

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 4 to the Rights Agreement to be duly executed as of the latest date below.

 

 

EXTREME NETWORKS, INC.COMPUTERSHARE INC.

 

 

By:  /s/ Katy MotieyBy: /s/ Dennis V. Moccia

 

Title:  EVP, Chief Administrative Officer – 

HR, Legal & Corp SecretaryTitle:  Manager, Contract Administration

 

Date:  May 9, 2016Date:  May 9, 2016

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