Document:

exv10w2

Exhibit 10.2

Piedmont Natural Gas Company, Inc.

2013 Retention Award Agreement

     THIS 2013 RETENTION AWARD AGREEMENT (this “Agreement”) is made and entered into as of
the 15th day of December, 2010, by and between Piedmont Natural Gas Company, Inc., a
North Carolina corporation (the “Company”) and                      (the “Participant”) pursuant to the
Piedmont Natural Gas Company, Inc. Incentive Compensation Plan, as amended (the “Plan”).
Capitalized terms used herein without definition have the meaning given in the Plan.

     1. Award of Retention Stock Units. The Company hereby evidences and confirms its
award to the Participant, effective as of the date hereof (the “Award Date”), of                 Common
Stock units. All Common Stock units awarded to the Participant under this Agreement are subject to
the restrictions contained herein and are referred to as the “Retention Stock Units.” This
Agreement is subordinate to, and the terms and conditions of the Retention Stock Units awarded
hereunder are subject to, the terms and conditions of the Plan, which are incorporated by reference
into this Agreement. If there is any inconsistency between the terms of this Agreement and the
terms of the Plan, the terms of the Plan shall govern.

     2. Vesting of Retention Stock Units.

     (a) Vesting Period. Subject to the Participant’s continuous employment with the
Company or a Subsidiary, and except as provided in Section 2(b)(i) of this Agreement or Article X
of the Plan, the “Vesting Period” shall commence on the Award Date and expire, and the
Retention Stock Units shall become vested, on December 15, 2013. Except for transfers by will or
by the laws of descent and distribution, the Retention Stock Units may not be sold, assigned,
transferred, pledged, hypothecated or otherwise directly or indirectly encumbered or disposed of
until the expiration of the Vesting Period.

     (b) Termination of Employment. Notwithstanding anything contained in this Agreement
to the contrary, (i) if the Participant’s employment is terminated during the Vesting Period
because of the Participant’s death or Disability, the Vesting Period shall lapse, and the Retention
Stock Units shall become fully vested, on the date of termination, and (ii) if the Participant’s
employment terminates for any reason other than the Participant’s death or Disability during the
Vesting Period (including, but not limited to, Retirement), the Retention Stock Units shall be
forfeited and canceled as of the date of such termination.

     (c) Committee Discretion. Notwithstanding anything contained in this Agreement to the
contrary, the Committee, in its sole discretion, may accelerate the expiration date of the Vesting
Period at such time and upon such terms and conditions as the Committee shall determine (including
upon the Retirement of the Participant).

 

 

     3. Receipt of Common Stock.

     (a) Vesting Upon Death or Disability. If the Participant’s employment terminates
during the Vesting Period because of the Participant’s death or Disability, then the Company shall
issue to the Participant (or to the Participant’s Designated Beneficiary in the event of the
Participant’s death), on the payroll date immediately following such termination, one Share of
Common Stock for each Retention Stock Unit awarded to the Participant. Notwithstanding the
foregoing, the settlement of the Participant’s Retention Stock Units shall not be made before the
first business day that is six months and one day after the date of the Participant’s termination
of employment (or, if earlier, upon death) if the Committee reasonably believes the Participant is
a “specified employee” (within the meaning of Section 409A of the Code) and the Retention Stock
Units are subject to Section 409A(a)(2)(B) of the Code. Notwithstanding anything to the contrary
in the Plan or this Agreement, the Committee may in its absolute discretion alter or amend any of
the provisions of this Agreement if such alteration or amendment would be required to comply with
Section 409A of the Code or any regulations promulgated thereunder.

     (b) All Other Vesting. The Company shall issue to the Participant one Share of Common
Stock for each Retention Stock Unit awarded to the Participant within five (5) business days after
the expiration of the Vesting Period and the vesting of the Retention Stock Units.

     (c) Cancellation of Retention Stock Units. The Retention Stock Units in respect of
which Shares of Common Stock are issued pursuant to Section 3(a) or (b) of this Agreement shall be
canceled upon the issuance of such Common Stock. In no event shall Shares of Common Stock be
issued to the Participant, or to any person or entity claiming by or through the Participant, in
respect of unvested Retention Stock Units.

     4. Limitation of Rights. The Retention Stock Units do not confer upon the
Participant, or the Participant’s estate or Designated Beneficiary in the event of the
Participant’s death, any voting rights, any rights to receive dividends or any other rights as a
shareholder of the Company unless and until Shares of Common Stock are in fact issued to such
person in respect of the Retention Stock Units. Nothing in this Award Agreement shall interfere
with or limit in any way the right of the Company to terminate the Participant’s service at any
time, nor confer upon the Participant any right to continue in the service of the Company.

     5. Payment and Withholding of Taxes. The Company shall deduct from any Shares
otherwise distributable to the Participant that number of Shares having a value equal to the amount
of any taxes required by law to be withheld from awards made under the Plan. The Participant may
elect to have the Company withhold a greater number of Shares (up to a maximum of fifty percent
(50%) of the Shares distributable to the Participant) for tax withholding.

     6. Binding Agreement. Subject to the limitation on the transferability of this

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award contained herein, this Agreement will be binding upon and inure to the benefit of the
heirs, legatees, legal representatives, successors and assigns of the parties hereto.

     7. Consent to Electronic Delivery. By executing this Agreement, the Participant
hereby consents to the delivery of information (including, without limitation, information required
to be delivered to the Participant pursuant to applicable securities laws) regarding the Company
and the Subsidiaries, the Plan, and the Retention Stock Units via the Company’s website or other
electronic delivery.

     8. Section and Other Headings, etc. The section and other headings contained in this
Agreement are for reference purposes only and shall not affect the meaning or interpretation of
this Agreement.

     9. Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be deemed to be an original and all of which together shall constitute one and the
same instrument.

     10. Agreement Severable. In the event that any provision in this Agreement will be
held invalid or unenforceable, such provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the remaining provisions of this
Agreement.

     11. Modifications to the Agreement. This Agreement constitutes the entire
understanding of the parties on the subjects covered. Modifications to this Agreement can be made
only in an express written contract executed by a duly authorized officer of the Company.

     12. Governing Law. Except to the extent superseded by the laws of the United States,
this Agreement will be governed by, and construed in accordance with, the laws of the State of
North Carolina without regard to principles of conflict of laws.

     13. Additional Actions. The parties will execute such further instruments and take
such further action as may reasonably be necessary to carry out the intent of this Agreement.

     IN WITNESS WHEREOF, the Company and the Participant have executed this Agreement as of the
Award Date.

	 	 	 	 	 
	 	PIEDMONT NATURAL GAS COMPANY, INC.

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 
	 
	 	PARTICIPANT

 	 
	 	
 	 
	 	 	 
	 	 	 
	 

3exv10w36

	 	 	 	 	 

Exhibit 10.36

SEPARATION AGREEMENT

AND GENERAL RELEASE OF ALL CLAIMS

     This Separation Agreement and General Release of All Claims (“Separation Agreement”) is
made by and between Halozyme Therapeutics, Inc. (“Halozyme”) and Jonathan E. Lim (“Employee”) as of
December 2, 2010 with respect to the following facts:

     A. Employee is currently employed by Halozyme.

     B. Employee is resigning from his employment with Halozyme effective December 2, 2010
(“Separation Date”). As a result of Employee’s resignation, Employee is not entitled to any
severance payment or benefits under the Halozyme Severance Policy or otherwise. However, Halozyme
wishes to reach an amicable separation with Employee and obtain Employee’s reasonably necessary
assistance in transitioning Employee’s responsibilities to other Halozyme personnel.

     C. The parties desire to settle all claims and issues that have, or could have been
raised, in relation to Employee’s employment with Halozyme and arising out of or in any way
related to the acts, transactions or occurrences between Employee and Halozyme to date,
including, but not limited to, Employee’s employment with Halozyme or the termination of that
employment, on the terms set forth below.

     THEREFORE, in consideration of the promises and mutual agreements hereinafter set forth, it is
agreed by and between the undersigned as follows:

     1. Transition Assistance. To assist Halozyme in the transition of Employee’s previous
responsibilities, Employee agrees to provide consulting services to Halozyme under the terms
described in this Separation Agreement. From the Separation Date through March 31, 2011 (the
“Transition Period”), Employee agrees to make himself available at reasonable times and upon
reasonable notice, to provide information as may be requested by Halozyme, through its Chief
Executive Officer, related to events or projects in which Employee was involved while employed by
Halozyme. Without the consent of Employee, in no event will such assistance require more than ten
hours a month. Employee’s agreement to provide such consulting assistance is in consideration of
the Severance Package being provided, and as such, he will not be entitled to any additional
compensation for providing such assistance. However, Halozyme shall reimburse Employee for any
reasonable out-of-pocket expenses he incurs in the course of providing such consulting assistance
(e.g., travel, lodging, etc.), provided such expenses are pre-approved by Halozyme’s Chief
Executive Officer. Halozyme acknowledges that Employee is entitled to indemnification under
Halozyme’s Bylaws with respect to his service as a director and executive officer. During the
Transition Period, Halozyme will provide Employee with the same indemnification he would have been
entitled to under Halozyme’s Bylaws if Employee had remained employed by Halozyme during that
period. Except as requested by Halozyme’s Chief Executive Officer, Employee will not contact
Halozyme employees or parties that have commercial relationships with Halozyme with respect to
Halozyme business matters.

     2. Severance Package. Halozyme agrees to provide Employee with the following
payments and benefits (“Severance Package”) to which Employee is not otherwise entitled.
Employee acknowledges and agrees that this Severance Package constitutes adequate legal
consideration for the promises and representations made by Employee in this Separation
Agreement.

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          Severance Payment. Halozyme agrees to pay Employee the equivalent of 52 weeks’ of
Employee’s base salary, or Four Hundred Fifteen Thousand Dollars ($415,000.00), less all
appropriate federal and state income and employment taxes (“Severance Payment”). The Severance
Payment will be paid out in twelve equal monthly payments, each payable on the 15th of each month,
commencing December 15th, 2010.

          Continuation of Group Health Benefits. Halozyme agrees to pay the premiums required
to continue Employee’s group health care coverage through December 31, 2011, under the applicable
provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), provided that
Employee elects to continue and remains eligible for these benefits under COBRA, completes all
necessary paperwork to trigger and maintain COBRA coverage, and does not obtain health coverage
through another employer during this period. Should Employee obtain other health coverage during
this period he shall notify Halozyme within 14 days.

          Stock Options. At various times during his employment, Employee has been granted stock
options. Notwithstanding any contrary terms of the stock option plan(s), grant(s) or agreement(s)
applicable to such stock options, all unvested stock options previously granted to Employee as of
the date his employment terminates will continue to vest at the rate set forth in such stock option
grant(s) or agreement(s), until the earlier of (a) March 31, 2011, or (b) a date prior to March 31,
2011 on which the Board of Directors notifies Employee in writing that it has concluded that
Employee has failed to comply with the provisions of Section 1, above. Employee shall have three
months from the date on which the vesting of his stock options terminates in accordance with this
provision, to exercise his option to purchase any vested stock option shares. Except as
specifically provided in the preceding two sentences, all stock options held by Employee shall be
governed by the terms and conditions of the stock option plan(s), grant(s) and/or agreement(s)
applicable to such options.

     3. General Release. Employee unconditionally, irrevocably and absolutely releases and
discharges Halozyme, and any parent and subsidiary corporations, divisions and affiliated
corporations, partnerships or other affiliated entities of Halozyme, past and present, as well as
Halozyme’s employees, officers, directors, agents, successors and assigns (collectively, “Released
Parties”), from all claims related in any way to the transactions or occurrences between them to
date, to the fullest extent permitted by law, including, but not limited to, Employee’s employment
with Halozyme, the termination of Employee’s employment, and all other losses, liabilities, claims,
charges, demands and causes of action, known or unknown, suspected or unsuspected, arising directly
or indirectly out of or in any way connected with Employee’s employment with Halozyme. This release
is intended to have the broadest possible application and includes, but is not limited to, any
tort, contract, common law, constitutional or other statutory claims, including, but not limited to
alleged violations of the California Labor Code or the federal Fair Labor Standards Act, Title VII
of the Civil Rights Act of 1964 and the California Fair Employment and Housing Act, the Americans
with Disabilities Act and all claims for attorneys’ fees, costs and expenses. Employee expressly
waives Employee’s right to recovery of any type, including damages or reinstatement, in any
administrative or court action, whether state or federal, and whether brought by Employee or on
Employee’s behalf, related in any way to the matters released herein. However, this general
release is not intended to bar any claims that, by statute, may not be waived, such as claims for
workers’ compensation benefits, unemployment insurance benefits and statutory indemnity.

     4. California Civil Code Section 1542 Waiver. Employee expressly acknowledges and
agrees that all rights under Section 1542 of the California Civil Code are expressly waived. That
section provides:

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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.

     5. Representation Concerning Filing of Legal Actions. Employee represents that, as of
the date of this Separation Agreement, Employee has not filed any lawsuits, charges, complaints,
petitions, claims or other accusatory pleadings against Halozyme or any of the other Released
Parties in any court or with any governmental agency. Employee further agrees that, to the fullest
extent permitted by law, Employee will not prosecute, nor allow to be prosecuted on Employee’s
behalf, in any administrative agency, whether state or federal, or in any court, whether state or
federal, any claim or demand of any type related to the matters released in this Separation
Agreement.

     6. Nondisparagement. Employee agrees that Employee will not make any voluntary
statements, written or oral, or cause or encourage others to make any such statements that defame,
disparage or in any way criticize the personal and/or business reputations, practices or conduct of
Halozyme or any of the other Released Parties.

     7. Confidentiality and Return of Halozyme Property. Employee understands and agrees
that as a condition of receiving the Severance Package in paragraph 2, all Company property must be
returned to Halozyme on or before December 6, 2010. By signing this Separation Agreement, Employee
represents and warrants that Employee will not use or disclose to others any confidential or
proprietary information of Halozyme or the Released Parties. Employee further agrees to comply with
the continuing obligations regarding confidentiality set forth in the surviving provisions of the
Employee Nondisclosure and Assignment Agreement previously executed by Employee. Employee
acknowledges that this Separation Agreement or a description of its material terms may be included
in filings Halozyme makes with the Securities and Exchange Commission.

     8. No Admissions. By entering into this Separation Agreement, the Released Parties
make no admission that they have engaged, or are now engaging, in any unlawful conduct. The parties
understand and acknowledge that this Separation Agreement is not an admission of liability and
shall not be used or construed as such in any legal or administrative proceeding.

     9. Consideration Period. Employee has until December 6, 2010 to decide whether or not
to enter into this Separation Agreement. This Separation Agreement shall not become effective or
enforceable until the day Employee signs this Separation Agreement. If the signed Separation
Agreement is not received by Anita W. Matheson, Executive Director of HR, by 5:00 p.m. Pacific Time
on December 6, 2010, Halozyme will assume that Employee is not interested in the Severance Package,
and the offer will be automatically withdrawn.

     10. Full Defense. This Separation Agreement may be pled as a full and complete defense
to, and may be used as a basis for an injunction against, any action, suit or other proceeding that
may be prosecuted, instituted or attempted by Employee in breach hereof. Employee agrees that in
the event an action or proceeding is instituted by the Released Parties in order to enforce the
terms or provisions of this Separation Agreement, the Released Parties shall be entitled to an
award of reasonable costs and attorneys’ fees incurred in connection with enforcing this Separation
Agreement, to the fullest extent permitted by law.

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     11. Severability. In the event any provision of this Separation
Agreement shall be found unenforceable, the unenforceable provision shall be deemed
deleted and the validity and enforceability of the remaining provisions shall not be
affected thereby.

     12. Applicable Law. The validity, interpretation and performance of
this Separation Agreement shall be construed and interpreted according to the laws
of the United States of America and the State of California.

     13. Entire Agreement; Modification. This Separation Agreement, including
the surviving provisions of Halozyme’s Employee Nondisclosure and Assignment Agreement
previously executed by Employee and Halozyme and herein incorporated by reference, is
intended to be the entire agreement between the parties and supersedes and cancels any
and all other and prior agreements, written or oral, between the parties regarding this
subject matter. This Separation Agreement may be amended only by a written instrument
executed by all parties hereto.

THE PARTIES TO THIS SEPARATION AGREEMENT HAVE READ THE FOREGOING SEPARATION AGREEMENT
AND FULLY UNDERSTAND EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES
HAVE EXECUTED THIS SEPARATION AGREEMENT ON THE DATES SHOWN BELOW.

	 	 	 	 	 
	 	 	 
	Dated: 12/6/10 	By:  	/s/ Jonathan E. Lim
 	 
	 	 	Jonathan E. Lim 	 
	 	 	 	 
	 	Halozyme Therapeutics, Inc.  	 
	 	 	 
	Dated: 12/7/10 	By:  	/s/ Gregory I. Frost
 	 
	 	 	Gregory I. Frost, PhD 	 
	 	 	President & CEO 	 

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