Document:

exv10w2

Exhibit 10.2

THIRD AMENDMENT TO EMPLOYMENT AGREEMENT

     This Third Amendment (“Amendment”) to the Employment Agreement dated August 3, 2004, between
Tesoro Corporation (“Company”) and Gregory A. Wright (“Executive”), as amended February 2, 2006 and
June 8, 2007 (“Agreement”), is entered into this 4th day of August, 2009, by and between the
Company and Executive, sometimes collectively referred to herein as the “Parties.”

WITNESSETH:

     WHEREAS, the Company and Executive have previously entered into an employment agreement which
has been amended on two occasions; and

     WHEREAS, the Company and Executive desire to amend the Agreement again to reflect certain
changes they have agreed to.

     NOW, THEREFORE, in consideration of the mutual promises, covenants, and conditions set forth
herein, including but not limited to Executive’s employment and the payments and benefits described
herein, the sufficiency of which is hereby acknowledged, the Company and Executive hereby agree as
follows:

     1. Section 2 of the Agreement is hereby amended by deleting the current language and replacing
it with the following language:

     “2. TERM OF EMPLOYMENT. This Agreement shall begin on the Effective
Date, and shall expire and Executive’s employment with the Company shall end on
November 1, 2010. The period during which Executive is employed hereunder shall be
referred to as the ‘Employment Period.’ Either the Company or the Executive shall
have the right to terminate the Employment Period at any time during the term
hereof, in accordance with Section 5, below.”

     2. Section 3 of the Agreement is hereby amended by adding the following language at the end of
Section 3(a):

     “At the direction of the Board, Executive shall assist the Company in
identifying a potential successor chief financial officer, recruiting such
successor, and transitioning such successor into the chief financial officer
position.”

     3. Section 5 of the Agreement is hereby amended by moving Section 5(f) to Section 5(g), and
creating a new Section 5(f), as reflected below:

     “(f) RETIREMENT BY EXECUTIVE. Executive may elect to retire and terminate his
employment during the Employment Period, in the event the Board elects a successor
chief financial officer to replace Executive. In no event shall Retirement by
Executive, as provided in this Section 5(f), constitute Termination by the Company
Without Cause or Termination By Executive for Good Reason, for purposes of Section
6(e) of this Agreement.”

			
	 	 	 
	THIRD AMENDMENT TO EMPLOYMENT AGREEMENT
	 	Page 1 of 3

 

 

     4. Section 6 of the Agreement is hereby amended by moving Section 6(f) to Section 6(g),
Section 6(g) to Section 6(h), and creating a new Section 6(f), as reflected below:

     “(f) TERMINATION BY EXECUTIVE FOR RETIREMENT. In lieu of any other benefits
under this agreement, in the event that Executive retires and terminates his
employment pursuant to Section 5(f) above, the Company shall pay Executive the
amounts as described below in subsections (i), (ii) and (vi) except for the special
completion bonus, and if at such time Executive has fulfilled the conditions set
forth in Section 3(a) above to the satisfaction of the Board, the Company shall, in
addition pay Executive the amounts as described below in subsections (iii), (iv),
(v) and the special completion bonus in (vi):

     (i) Any accrued but unpaid Base Salary for services rendered to the
date of termination, any accrued but unpaid expenses required to be
reimbursed under this Agreement, any vacation accrued to the date of
termination, and any earned but unpaid bonuses for any prior period;
provided, however, that such earned but unpaid bonuses shall be paid in a
cash lump sum on the first business day following the end of the six (6)
month period commencing on the date of Executive’s termination of employment
by retirement;

     (ii) Any benefits to which Executive may be entitled pursuant to the
plans, policies, and arrangements referred to in Section 4(f) hereof shall
be determined and paid in accordance with the terms of such plans, policies,
and arrangements;

     (iii) The amount of Executive’s Base Salary from the date of his
retirement through November 1, 2010, paid in a cash lump sum on the first
business day following the end of the six (6) month period commencing on the
date of Executive’s termination of employment by retirement;

     (iv) A prorated bonus through Executive’s retirement date may be
awarded at the Board’s discretion based, in part, on Executive’s performance
in facilitating a smooth transition of the successor chief financial
officer, and the Company’s business results. Such prorated bonus, if any,
shall be paid in a cash lump sum on the first business day following the end
of the six (6) month period commencing on the date of Executive’s
termination of employment by retirement;

     (v) All of Executive’s unvested equity awards, including stock options,
restricted stock, SARs, and/or phantom stock will vest upon Executive’s
termination of employment by retirement and all such stock options, SARs
and/or phantom stock along with those already vested prior to the date of
such retirement shall have the full remaining original term of each grant to
be exercised;

			
	 	 	 
	THIRD AMENDMENT TO EMPLOYMENT AGREEMENT
	 	Page 2 of 3

 

 

     (vi) Executive’s lump sum benefit under the Tesoro Corporation Amended
and Restated Executive Security Plan shall be determined as of the date of
Executive’s retirement as provided under the terms of such plan; provided,
however, that if such benefit, calculated as of the date of Executive’s
retirement, is less than the amount of Executive’s lump sum benefit
thereunder, determined as of May 31, 2009, Executive shall receive a special
completion bonus for the difference, payable in a cash lump sum on the first
business day following the end of the six (6) month period commencing on the
date of Executive’s termination of employment by retirement.

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

	 	 	 	 	 
	 	TESORO CORPORATION

 	 
	 	By:  	/s/
CHARLES S. PARRISH
 	 
	 	 	CHARLES S. PARRISH 	 
	 	 	Executive Vice President, General
Counsel and Secretary	 
	 
	 	Date:	August 4, 2009	 
	 

	 	 	 	 	 
	 	EXECUTIVE:

 	 
	 	/s/ GREGORY A. WRIGHT
 	 
	 	GREGORY A. WRIGHT, Executive 	 
	 
	 	Date: 	August 4, 2009	 
	 

			
	 	 	 
	THIRD AMENDMENT TO EMPLOYMENT AGREEMENT
	 	Page 3 of 3exv10w1

Exhibit 10.1

	 	 	 
	Oncothyreon Inc.

	 	MAIN 206.801.2100
	www.oncothyreon.com

	 	FAX    206.801.2101
	 
	 	 
	2601 Fourth Ave., Suite 500

Seattle, WA 98121
	 	 

July 6, 2009

Ms. Diana F. Hausman

Seattle, WA 98102

Dear Diana,

I am delighted to offer you the position of Vice President, Clinical Development at Oncothyreon
Inc. This position reports to Robert Kirkman, President and CEO. Your official start date will be
determined upon acceptance. This offer includes the following:

	 	1.	 	A base salary for a regular, full-time position of $12,083.34 per semi-monthly
pay period (equivalent to $290,000 on an annual basis). Salaries are paid twice a
month, by direct deposit, on the 15th and the second last banking day of
each month.
	 
	 	2.	 	You are eligible to participate in the Company’s non-qualified Stock Option
Plan. The plan is governed by the Company’s “Amended and Restated Share Option Plan”
(the “Option Plan”) and the terms of this document will govern. A total of 30,000
optioned shares of the Company will be granted at the first Board of Directors meeting
following your employment start date. Stock options are vested over a four year
period.
	 
	 	3.	 	You will be eligible for our performance bonus plan at the 30% target level.
The performance bonus plan is governed by the Company’s “Employee Incentive Program”
document and the terms of this document will govern. Goals for the plan are
established at the beginning of the year, and payment is made following the close of
the year.
	 
	 	4.	 	Medical, dental, vision and life insurance, long term disability, four weeks
(20 days) of accrued vacation, 10 paid holidays and paid parking.
	 
	 	5.	 	You will become eligible for Oncothyreon matching contributions into the
Company’s 401(k) plan upon date of hire. Oncothyreon will match your contributions
into the plan, up to a maximum of 3% of your monthly gross salary (subject to

 

 

Ms. Diana Hausman

July 6, 2009

Page 2

	 	 	 	maximums
as deemed by law). Contributions to this plan are made through payroll deductions.
This plan is governed by plan documents provided by our carrier for this benefit.
	 
	 	6.	 	Severance: In the event your employment is terminated for reasons other than
“cause” as the term is interpreted according to the laws of the State of Washington:

	 	i)	 	Lump sum payment of six month’s base salary, less required
withholding, and,
	 
	 	ii)	 	Lump sum payment of six months equivalent of performance
review bonus at target, less required withholdings.

“Cause” for the purpose of this agreement shall include but not be limited to (i)
willful engaging in illegal conduct or gross misconduct which is injurious to the
Company or an affiliated company, (ii) being convicted of, or entering a plea of nolo
contendere guilty to, a felony or a crime of moral turpitude; (iii) engaging in
fraud, misappropriation, embezzlement or any other act or acts of dishonesty
resulting or intended to result directly or indirectly in a gain or personal
enrichment to you at the expense of the Company or an affiliated company, (iv)
material breach of any written policies of the Company or an affiliated company, or
(v) willful and continual failure substantially to perform your duties with the
Company, which failure has continued for a period of at least 30 days after written
notice by the Company.

To protect the Company’s proprietary interests, all of Oncothyreon’s employees are required to sign
a Confidentiality Agreement as a condition of employment.

The Company reserves the right to conduct reference checks and academic checks on all its potential
employees. Your job offer is therefore contingent upon a clearance of such investigations. You
also must be able to prove your eligibility to work within the United States.

Please note that acceptance of this offer does not create a contract of continuing employment with
Oncothyreon Inc. Employment with the company is on an at-will basis, meaning that the employee or
the company may terminate the employment relationship at any time and for any reason not expressly
prohibited by law.

If you are in agreement with these terms please sign and return one copy of this letter, the other
copy is for your files, to acknowledge your acceptance by Wednesday July 8, 2009. This may be
faxed to 206-801-2125.

 

 

Ms. Diana Hausman

July 6, 2009

Page 3

Diana, we all look forward to you joining our team at Oncothyreon and I am confident that you will
be able to significantly contribute to the success of our company. Please feel free to contact me
at 206-801-2124 if you have any questions.

	 	 	 	 	 
	Sincerely,

 	 
	/s/ Kathryn Knowles
 	 
	Kathryn Knowles 	 
	Director, Human Resources 	 
	 

	 	 	 
	/s/ Diana F. Hausman

	 	7/8/2009
	 

	 	 
	Diana F. Hausman

	 	Date

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00161-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00161-of-00352.parquet"}]]