Document:

ex10-27.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

Exhibit 10.27

 

CONFIDENTIAL TREATMENT REQUESTED 

Confidential portions of this document
        have been redacted and will be separately filed with the Securities and
        Exchange Commission. 

  

  MOBILE STORAGE GROUP, INC. 

2007 CORPORATE INCENTIVE PLAN

EXECUTIVE PLAN 

Bonus plan to be applicable to executive management members
listed below: (1) 

* * * * 

* * * *

* * * *

* * * *

Payouts are to be based on a weighted formula applied to a
target bonus for each executive. Formula to be based on the following parameters
in the percentages indicated with specific objectives for each Executive: (1) 

	 	Adjusted EBITDA Result 	* * * %
	 
	 	Other Measurable Objectives  	*
          * * %
	 
	 	 	100%
	 

 

	A. 	Adj. EBITDA Targets and Payouts as follows 
	 	 
	 	 	 	 	 	 
	 	 	2007	 	 	 
	 	 	EBITDA ($MM) 	 	Payout 	 
	 	 	CC Discretion 	 	Less than 100%	 
	 	 	* * * mm (1) 	 	100%	 
	 	 	CC Discretion 	 	Greater than 100%	 
	 	 	 	 	 	 
	 	EBITDA will be Adjusted EBITDA (net of
        accrued and paid bonuses), plus Board of Directors fees, Management Fee
        and Expenses, Stock Options, * * *(1) and * * *(1) and will
        include the affect of any acquisitions made during the period. The EBITDA
        Targets levels will be increased for * * *(1). The Compensation Committee
        (CC) will have discretion for any awards for EBITDA results greater than
        or less than * * *(1). 
	 	 	 
	B. 	Other Measurable Objectives 
	 	 	 
	 	Each executive will have measurable objectives
        against which they will be measured with weighing for each objective.
    The specific targets for the objectives need to be further developed. 
	 	 	 
	 	 	 
	(1)	Confidential material redacted and will be filed
    separately with the Securities and Exchange Commission.Untitled Document

Exhibit 10.28 

CONFIDENTIAL TREATMENT REQUESTED 

Confidential portions of this document
      have been redacted and will be separately filed with the Securities and
      Exchange Commission. 

2007 U.K. Special Incentive Plan 

     Eligible Executives: * * * (1) 

     Under the U.K. Incentive Plan each of the persons named in the prior sentence would receive the bonuses set forth below upon Ravenstock MSG Limited attaining the EBITDA indicated below for the fiscal
year ended December 31, 2007 following the approval of the financial statements for such period by the Board: 

	
Second Half of 2007
  	 

  	 

  
	
EBITDA
  	
    One-Time Bonus
    
	
                              Recipient
  
	
£ * * * (1) million or below
  	
0
  	
     Not applicable 
	 

  	
 £ * * * (1)
  	
     * * * (1)
	
£ * * * (1) million
  	
 £ * * * (1)
  	
     * * * (1)
	 

  	
 £ * * * (1)
  	
     * * * (1)
	
£ * * * (1) million
  	
£ * * * (1)
  	
     * * * (1)
	 

  	
£ * * * (1)
  	
     * * * (1)
	
£ * * * million and above
  	
    £ * * * (1)  	
     * * * (1)

	 	 	 
	(1)	Confidential material redacted and will be filed
    separately with the Securities and Exchange Commission.Exhibit 10.1

 

Exhibit 10.1

SETTLEMENT AGREEMENT

     This Settlement Agreement (“Agreement”) is entered into by and among: Duke University, a North
Carolina nonprofit and educational institution; Orexigen Therapeutics, Inc., a Delaware
corporation; Eisai Inc., a Delaware corporation; and Eisai Co., Ltd., a Japanese corporation (all
collectively referred to herein as the “Parties” or, individually, the “Party”).

RECITALS

     WHEREAS, on May 6, 2002, Elan Pharmaceuticals, Inc. (“Elan”) filed U.S. Provisional
Application No. 60/378,446, which was converted into U.S. Patent Application No. 10/429,474 on May
2, 2003, relating to the use of zonisamide for weight loss treatment and naming Julianne E.
Jennings as the sole inventor;

     WHEREAS, on May 5, 2003, Elan filed PCT Application No. PCT/US03/14459, claiming priority to
U.S. Patent Application No. 10/429,474 and U.S. Provisional Application No. 60/378,446;

     WHEREAS, in April 2004, Elan transferred any and all rights it had in PCT Application No.
PCT/US03/14459 to Eisai Co., Ltd., and Eisai Co., Ltd. is presently the owner of this application
and other related applications;

     WHEREAS, on May 17, 2002, Duke filed U.S. Provisional Application No. 60/380,874, which was
converted into U.S. Patent Application No. 10/440,404 on May 19, 2003, relating to the use of
zonisamide and other compounds for weight loss treatment and naming Kishore M. Gadde and Ranga R.
Krishnan as co-inventors;

     WHEREAS, on May 19, 2003, Duke filed PCT Application No. PCT/US03/15703, claiming priority to
U.S. Provisional Application No. 60/380,874;

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     WHEREAS, on July 12, 2004, Duke and Orexigen filed a civil action in the United States
District Court for the Middle District of North Carolina entitled Duke University and Orexigen
Therapeutics, Inc., v. Elan Corporation, plc, Elan Pharma International Ltd., Elan Pharmaceuticals,
Inc., Eisai, Inc., Eisai Co., Ltd., and Julianne E. Jennings, Civil Action No. 1:04CV00532 (“the
Action”);

     WHEREAS, the parties to the Action have settled and dismissed the Action and have settled
certain other matters in the United States pursuant to a December 14, 2006 Settlement Agreement;

     WHEREAS, the December 14, 2006 Settlement Agreement did not settle any matters between or
among the Parties outside the United States;

     WHEREAS, the Parties now desire to settle and resolve all prospective litigation, proceedings
and disputes outside the United States relating to the Eisai Foreign Patent(s) and the Duke Foreign
Patent(s) (as those terms are defined in this Agreement), as set forth herein.

     NOW, THEREFORE, for good, valuable, and reciprocal consideration given and received, the
sufficiency of which is hereby acknowledged, and intending to be legally bound, the Parties agree
as follows:

1. DEFINITIONS. The following terms have the meanings ascribed to them, whether in the singular or
plural:

     1.1 “Duke” means Duke University and shall include and encompass Duke’s divisions,
subsidiaries, sub-entities, partners, joint-ventures, affiliates, owners, executives, officers,
directors, administrators, successors, agents, insurers, underwriters, legal representatives, and
present, past, or future parents.

     1.2 “Orexigen” means Orexigen Therapeutics, Inc. and shall include and encompass Orexigen’s
divisions, subsidiaries, sub-entities, partners, joint-ventures, affiliates, owners,

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executives, officers, directors, administrators, successors, agents, insurers, underwriters,
legal representatives, and present, past, or future parents.

     1.3 “Eisai” means Eisai Inc. and Eisai Co., Ltd. and shall include and encompass each of their
divisions, subsidiaries, sub-entities, partners, joint-ventures, affiliates, owners, executives,
officers, directors, administrators, successors, agents, insurers, underwriters, legal
representatives, and present, past, or future parents, and shall also include any successors in
interest to or assigns of the Eisai Patent(s), defined herein.

     1.4 “Eisai United States Patent(s)” means any patent that includes a claim which encompasses
the use of zonisamide as the sole active ingredient to treat obesity or other weight-related
disorders or conditions that (a) issues from U.S. Patent Application No. 10/429,474 filed on May 2,
2003, or (b) issues from any other U.S. patent application claiming in whole or in part the benefit
of the filing date of, or which is otherwise based on the disclosure in, U.S. Patent Application
No. 10/429,474 filed on May 2, 2003 or U.S. Provisional Application No. 60/378,446 filed on May 6,
2002.

     1.5 “Eisai Foreign Patent(s)” means any patent issued outside the United States that includes
a claim which encompasses the use of zonisamide as the sole active ingredient to treat obesity or
other weight-related disorders or conditions that (a) issues from any patent application (such as a
national phase application) based on PCT Application No. PCT/US03/14459 filed on May 5, 2003, or
(b) issues from any other patent application filed outside the United States claiming in whole or
in part the benefit of the filing date of, or which is otherwise based on the disclosure in, PCT
Application No. PCT/US03/14459 filed on May 5, 2003, U.S. Patent Application No. 10/429,474 filed
on May 2, 2003 or U.S. Provisional Application No. 60/378,446 filed on May 6, 2002.

     1.6 “Eisai Patent(s)” means, collectively, the Eisai United States Patent(s) and the Eisai
Foreign Patent(s).

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     1.7 “Duke United States Patent(s)” means any patent that includes a claim which encompasses
the use of zonisamide as the sole active ingredient to treat obesity or other weight-related
disorders or conditions that (a) issues from U.S. Patent Application No. 10/440,404 filed on May
19, 2003, or (b) issues from any other U.S. patent application claiming in whole or in part the
benefit of the filing date of, or which is otherwise based on the disclosure in, U.S. Patent
Application No. 10/440,404 filed on May 19, 2003 or U.S. Provisional Application No. 60/380,874
filed on May 17, 2002.

     1.8 “Duke Foreign Patent(s)” means any patent issued outside the United States that includes a
claim which encompasses the use of zonisamide as the sole active ingredient to treat obesity or
other weight-related disorders or conditions that (a) issues from any patent application (such as a
national phase application) based on PCT Application No. PCT/US03/15703 filed on May 19, 2003, or
(b) issues from any other patent application filed outside the United States claiming in whole or
in part the benefit of the filing date of, or which is otherwise based on the disclosure in, PCT
Application No. PCT/US03/15703 filed on May 19, 2003, U.S. Patent Application No. 10/440,404 filed
on May 19, 2003 or U.S. Provisional Application No. 60/380,874 filed on May 17, 2002.

     1.9 “Orexigen’s Product” means any product containing zonisamide in combination with any other
active pharmaceutical agent, including but not limited to bupropion, wherein zonisamide and the
other active pharmaceutical agent may be administered as a single dosage form or as separate dosage
forms, the product being intended for use in the treatment of humans, including but not limited to
the treatment of obesity or other weight-related disorders or conditions.

     1.10 “Effective Date” means the date that this Agreement has been signed by all of the
Parties, which may be accomplished by counterparts.

     1.11 “Zonegran Product” means the pharmaceutical product currently marketed by Eisai under the
trademark ZONEGRAN®, containing zonisamide as the sole active ingredient.

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     1.12 “Person” means any individual, entity, corporation, partnership, joint venture, limited
liability company, trust or unincorporated organization.

     1.13 “The December 14, 2006 Settlement Agreement” means the Settlement Agreement entered into
by and among the parties to the Action having an Effective Date (as defined in that Settlement
Agreement) of December 14, 2006.

2. RELEASES

     2.1 Releases by Duke and Orexigen. Duke and Orexigen, in consideration of the
agreements set forth herein, and intending to be legally bound, irrevocably release and forever
discharge Eisai from any actions, causes of action, claims, suits, obligations, liabilities, and
demands whatsoever, whether in law, in equity or otherwise, arising under the laws of any country
outside the United States, whether known or unknown, asserted or unasserted, existing as of the
Effective Date, based upon, arising out of or in any way relating to either (a) the Action; or (b)
the Duke Foreign Patent(s).

     2.2 Release by Eisai. Eisai, in consideration of the agreements set forth herein, and
intending to be legally bound, irrevocably releases and forever discharges Duke and Orexigen from
any actions, causes of action, claims, suits, obligations, liabilities, and demands whatsoever,
whether in law, in equity or otherwise, arising under the laws of any country outside the United
States, whether known or unknown, asserted or unasserted, existing as of the Effective Date, based
upon, arising out of or in any way relating to either (a) the Action, or (b) the Eisai Foreign
Patent(s).

     2.3 Limitations on Releases. The releases set forth above in Paragraphs 2.1 and 2.2
do not apply to: (a) any claims based upon or arising out of the rights and obligations created by
this Agreement; or (b) the rights of the Parties with respect to the Duke United States Patent(s)
and the Eisai United States Patent(s) in any and all present or future proceedings in the U.S.
Patent and Trademark Office, including but not limited to any interference proceeding relating to
the Duke United States Patent(s), the Eisai United States Patent(s), or the applications for those
patents; (c) the rights of the Parties with respect to the Duke Foreign Patent(s) and the Eisai

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Foreign Patent(s) in any and all present or future proceedings in any Patent Office outside
the United States; or (d) the rights of the Parties under the December 14, 2006 Settlement
Agreement.

     2.4 Waiver. Each Party acknowledges being familiar with Section 1542 of the
California Civil Code, which reads as follows:

A general release does not extend to claims which the creditor does not know or
suspect to exist in his or her favor at the time of executing the release, which if
known by him or her must have materially affected his or her settlement with the
debtor.

Each Party acknowledges and agrees that the Party is releasing unknown claims and waives all rights
that the Party may have under Civil Code Section 1542 or under any other statute or common law
principle of similar effect.

3. COVENANT NOT TO SUE

     3.1 By Duke and Orexigen. Duke and Orexigen hereby covenant that they will not,
individually or collectively, assert the Duke Foreign Patent(s) or any application for the Duke
Foreign Patent(s) against Eisai or any of its successors, assigns, licensees, sublicensees,
customers, distributors, suppliers, or users, for any conduct relating to the Zonegran Product,
whether occurring before, on, or after the Effective Date. Duke and Orexigen shall impose this
covenant on any third party to which Duke and Orexigen, may, after the Effective Date, assign,
convey, sell, lease, encumber, license, sublicense, or otherwise transfer or grant any right in or
to the Duke Foreign Patent(s) or any right or interest therein. Breach of any portion of this
Paragraph 3.1 shall constitute a material breach of this Agreement.

     3.2 By Eisai. Eisai hereby covenants that it will not, individually or collectively,
assert the Eisai Foreign Patent(s) or any application for the Eisai Foreign Patent(s) against Duke
or Orexigen or any of their successors, assigns, licensees, sublicensees, customers, distributors,
suppliers, or users, for any conduct relating to Orexigen’s Product, whether occurring before, on,
or after the Effective Date. Eisai shall impose this covenant on any third party to which Eisai

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may, after the Effective Date, assign, convey, sell, lease, encumber, license, sublicense, or
otherwise transfer or grant any right in or to the Eisai Foreign Patent(s) or any right or interest
therein. Breach of any portion of this Paragraph 3.2 shall constitute a material breach of this
Agreement.

4. REPRESENTATIONS AND WARRANTIES

     4.1 By the Parties. Each Party represents and warrants that (a) it has not assigned
or transferred to any other persons or entities any of its claims, demands, or causes of action
settled and released herein, (b) it has the full power and authority to enter into this Agreement
and to perform its obligations hereunder, (c) this Agreement is binding on and enforceable against
it by the other Parties in accordance with its terms, and (d) the compliance by each of the Parties
with its obligations hereunder will not conflict with or result in a breach of any agreement to
which such Party is a party or is otherwise bound.

     4.2 By Eisai. Eisai represents that Eisai Co., Ltd. has received an assignment from
Elan of all of Elan’s right, title and interest in the Eisai Foreign Patent(s). Eisai further
represents that Eisai Co., Ltd. has not assigned or otherwise transferred any right, title, or
interest in the Eisai Foreign Patent(s), and that it is currently unaware of any Person with any
right, title, or interest in the Eisai Foreign Patent(s) other than Eisai Co., Ltd. Eisai further
represents that, other than the Eisai Foreign Patent(s), it is not currently seeking and does not
currently possess any patent rights in any country outside the United States relating to the use of
zonisamide for the treatment of obesity or other weight-related disorders or conditions.

     4.3 By Duke and Orexigen. Duke represents that Kishore M. Gadde and Ranga R. Krishnan
have assigned all of their right, title, and interest in the Duke Foreign Patent(s) to Duke. Duke
further represents that it has not assigned, licensed or otherwise transferred any right, title, or
interest in the Duke Foreign Patent(s) to any Person, except to Orexigen. Orexigen represents that
it has not assigned, licensed or otherwise transferred any right, title, or interest in the Duke
Foreign Patent(s) to any Person, except to Duke. Duke and Orexigen further represent

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that they are currently unaware of any Person with any right, title, or interest in the Duke
Foreign Patent(s), other than Duke and Orexigen.

5. TERM

     5.1 Term. This Agreement shall become effective on the Effective Date and shall
continue in force until the latter of (a) the expiration of the last of the Eisai Foreign Patent(s)
and the Duke Foreign Patent(s), or (b) the final abandonment of all patent applications for the
Eisai Foreign Patent(s) and the Duke Foreign Patent(s).

6. GENERAL

     6.1 Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of North Carolina (regardless of its or any other jurisdiction’s choice of law
principles).

     6.2 Further Assurances. Each Party agrees to take or cause to be taken such further
actions, and to execute, deliver, and file, or cause to be executed, delivered, and filed, such
further documents and instruments and to obtain such consents, as may be reasonably required or
requested in order to effectuate fully the purposes, terms, and conditions of this Agreement.

     6.3 Severability. If any term, clause, or provision of this Agreement shall be
determined to be invalid or unenforceable, the unenforceable or invalid article or provision shall
be deemed deleted from this Agreement and replaced with an article or provision which accomplishes,
to the extent possible, the original business purpose of such article or provision in an
enforceable and valid manner, and the validity of any other term, clause, or provision shall not be
affected.

     6.4 Counterparts. This Agreement may be executed (including, without limitation, by
facsimile signature) in one or more counterparts, with the same effect as if the Parties had signed

8

 

the same document. Each counterpart so executed shall be deemed to be an original, and all such
counterparts shall be construed together and shall constitute one Agreement.

     6.5 Entire Agreement; Amendment. Except as set forth in Paragraph 6.12 herein, this
Agreement constitutes the entire understanding and only agreement between the Parties with respect
to the subject matter hereof and supersedes any and all prior or contemporaneous negotiations,
representations, agreements, and understandings, written or oral, that the Parties may have reached
with respect to the subject matter hereof. No agreements altering or supplementing the terms
hereof may be made except by means of a written document signed by the duly authorized
representatives of each of the Parties.

     6.6 Agency. Nothing herein contained shall be deemed to create or give rise to an
agency, joint venture, or partnership relationship or any fiduciary duty among the Parties.

     6.7 Waivers and Amendments. Failure by any Party to enforce any provision of this
Agreement shall not be deemed a waiver of that provision or of any other provision of this
Agreement. Any claim of waiver of any right, obligation, term, or condition of this Agreement and
any claim that any provision of this Agreement has been modified or amended shall be null and void
unless such waiver, modification, or amendment is made in writing and signed by authorized
representatives of all Parties.

     6.8 Assignment. This Agreement may be assigned by any Party.

     6.9 Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of the Parties, their respective successors and assigns.

     6.10 Legal Counsel. All Parties have engaged legal counsel in the drafting,
negotiating, and finalizing of this Agreement and any presumption against the drafter of any
particular provision herein (or against the drafter of this Agreement as a whole) shall be of no
effect whatsoever and each Party covenants to, and shall, refrain from asserting or relying upon
any such presumption.

9

 

     6.11 Notices. All notices required or permitted to be given hereunder shall be given
in writing, sent by facsimile and first class mail, and shall be sent as follows:

     If to Duke:

Robert L. Taber, Ph.D.

Vice Chancellor, Science and Technology Development

Duke University Medical Center

Room 121 Davison Building, Box 3701

Durham, NC 27710

Fax: 919-681-7642

     with a copy to:

Craig S. Summers

Knobbe, Martens, Olson & Bear, LLP

2040 Main Street, 14th Floor

Irvine, CA 92614

Fax: 949-760-9502

     If to Orexigen:

Anthony A. McKinney

Chief Operating Officer

Orexigen Therapeutics, Inc.

12481 High Bluff Drive, Suite 150

San Diego, CA 92130

Fax: 949-271-3791

     with a copy to:

Craig S. Summers

Knobbe, Martens, Olson & Bear, LLP

2040 Main Street, 14th Floor

Irvine, CA 92614

Fax: 949-760-9502

10

 

     If to Eisai:

Eisai Inc.

100 Tice Boulevard

Woodcliff Lake, NJ 07667

Fax: 201-746-3204

Attn: General Counsel

     with a copy to:

Covington & Burling LLP

One Front Street

San Francisco, CA 94111

Fax: 415-591-6091

Attn: Scott Schrader, Esq.

     6.12 December 14, 2006 Settlement Agreement Not Affected. This Agreement does not
supersede, change, modify or affect in any way the December 14, 2006 Settlement Agreement, which
shall remain in full force and effect separate and apart from this Agreement.

     IN WITNESS WHEREOF, the Parties hereto have caused their duly authorized representatives to
execute this Agreement.

	 	 	 	 	 	 	 	 	 
	DUKE UNIVERSITY	 	 	 	OREXIGEN THERAPEUTICS, INC.
	 
	 	 	 	 	 	 	 	 
	By:

	 	 /s/ ROBERT L. TABER	 	 	 	By:	 	 /s/ GARY D. TOLLEFSON
	 

	 	 
	 	 	 	 	 	 
	Name:

	 	 Robert L. Taber	 	 	 	Name:	 	 Gary D. Tollefson
	 

	 	 
	 	 	 	 	 	 
	Title:

	 	 Vice Chancellor	 	 	 	Title:	 	 CEO & President
	 

	 	 
	 	 	 	 	 	 
	Date:

	 	 9-12-07	 	 	 	Date:	 	 Sept. 7th, 2007
	 

	 	 
	 	 	 	 	 	 

11

 

	 	 	 	 	 	 	 	 	 
	EISAI INC.	 	 	 	EISAI CO., LTD.
	 
	 	 	 	 	 	 	 	 
	By:

	 	 /s/ ALEXANDER SCOTT	 	 	 	By:	 	 /s/ KENTA TAKAHASHI
	 

	 	 
	 	 	 	 	 	 
	Name:

	 	 Alexander Scott	 	 	 	Name:	 	 Kenta Takahashi
	 

	 	 
	 	 	 	 	 	 
	Title:

	 	 VP, Business Development	 	 	 	Title:	 	 General Counsel
	 

	 	 
	 	 	 	 	 	 
	Date:

	 	 9-10-07	 	 	 	Date:	 	 9-11-07
	 

	 	 
	 	 	 	 	 	 

12

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