Document:

Exhibit 4.1

 

FORM OF SPECIMEN OF COMMON STOCK CERTIFICATE

 

FACE OF DOCUMENT

 

MC

 

MEDAREX, INC.

 

INCORPORATED UNDER THE LAWS OF THE STATE OF NEW JERSEY

 

COMMON STOCK

 

CUSIP 583916 10 1

 

SEE REVERSE FOR CERTAIN DEFINITIONS

 

THIS CERTIFIES THAT

 

is the owner of

 

FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK OF THE PAR VALUE
OF $.01 EACH OF

 

MEDAREX, INC.

 

transferable on the books of the Corporation by the holder hereof in
person or by a duly authorized attorney upon surrender of the Certificate
properly endorsed. This Certificate and the shares represented hereby are
issued and shall be subject to all the provisions of the Certificate of
Incorporation of the Corporation, as now or hereafter amended, to all of which
the holder hereof by acceptance hereof assents. This Certificate is not valid
unless countersigned by the Transfer Agent.

 

WITNESS the facsimile seal of the Corporation and the facsimile
signatures of its authorized officers.

 

Dated:

 

[SEAL]

 

[SIGNATURE]

SECRETARY

 

[SIGNATURE]

PRESIDENT

 

COUNTERSIGNED:

CONTINENTAL STOCK TRANSFER & TRUST COMPANY

 

 

(JERSEY CITY, N.J.)

BY

TRANSFER AGENT

AUTHORIZED OFFICER

 

BACK OF DOCUMENT

 

THE CORPORATION IS AUTHORIZED TO ISSUE COMMON STOCK, PAR VALUE $.01 PER
SHARE AND PREFERRED STOCK, PAR VALUE $1.00 PER SHARE. THE CORPORATION WILL
FURNISH TO ANY SHAREHOLDER, UPON REQUEST AND WITHOUT CHARGE, A FULL STATEMENT
OF THE DESIGNATIONS, RELATIVE RIGHTS, PREFERENCES AND LIMITATIONS OF EACH SUCH CLASS AS
WELL AS THE AUTHORITY OF THE BOARD OF DIRECTORS TO EFFECT SUCH CLASSES OR ANY
SERIES THEREOF.

 

The following abbreviations, when used in the inscription on the face
of this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

 

TEN COM-as tenants in common

TEN ENT-as tenants by the entireties

JT TEN-as joint tenants with right of survivorship and not as tenants
in common

 

	
  UNIF GIFT MIN ACT-                       
  Custodian                         

  	
   

  	
   

  	
   

  	
   

  
	
  (Cust)

  	
  (Minor)

  	
   

  	
   

  	
   

  	
   

  
	
  under Uniform Gifts to Minors

  	
   

  	
   

  	
   

  	
   

  
	
  Act                       

  	
   

  	
   

  	
   

  	
   

  
	
  (State)

  	
   

  	
   

  	
   

  	
   

  
						

 

Additional abbreviations may be used though not in the above list.

 

For value received,                      
hereby sell, assign and transfer unto

 

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF
ASSIGNEE)

 

shares of the capital stock represented by the within Certificate, and
do hereby irrevocably constitute and appoint

Attorney to transfer the said shares on the books of the within named
Corporation with full power of substitution in the premises.

 

Dated

 

 

NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME
AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT
ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

 

This certificate also evidences and entitles the holder hereof to
certain Rights as set forth in the Rights Agreement between Medarex, Inc.
(the “Company”) and the Rights Agent thereunder (the “Rights Agreement”), the
terms of which are hereby incorporated herein by reference and a copy of which
is on file at the principal offices of the Rights Agent. Under certain
circumstances, as set forth in the Rights Agreement, such Rights will be
evidenced by separate certificates and will no longer be evidenced by this
certificate. The Company will mail to the holder of this certificate a copy of
the Rights Agreement, as in effect on the date of mailing, without charge,
promptly after receipt of a written request therefor. Under certain circumstances
set forth in the Rights Agreement, Rights issued to, or held by, any Person who
is, was or becomes an Acquiring Person or any Affiliate or Associate thereof
(as such terms are defined in the Rights Agreement), whether currently held by
or behalf of such Person or by any subsequent holder, may become null and void.Exhibit 10.10

 

AMENDMENT
NO. 1 TO

EMPLOYMENT
AGREEMENT

 

This AMENDMENT
NO. 1 TO EMPLOYMENT AGREEMENT (“Amendment No. 1”), effective as
of December 31, 2008 (the “Amendment No. 1 Date”), is by and between HOWARD H. PIEN (the “Executive”) and MEDAREX,
INC. (the “Company” and together with the Executive, the “Parties”).

 

Capitalized terms used in
this Amendment No. 1 that are not otherwise defined herein shall have the
same meaning as such terms are defined in the Agreement (as defined below).

 

WHEREAS,
the Executive and the Company entered into an Employment Agreement dated May 16,
2007 (the “Agreement”) under which the Parties agreed upon the terms pursuant
to which the Executive would provide services to the Company as further
described therein, and

 

WHEREAS,
Section 409A has been added to the Internal Revenue Code of 1986, as
amended (the “Code”), and this Agreement must be amended to comply with the
final regulations issued under Code Section 409A.

 

NOW
THEREFORE, the Parties agree as follows:

 

1.                                       Amendment of the Agreement. 
The Parties hereby agree to amend the terms of the Agreement as follows
as of the Amendment No. 1 Date.

 

1.1.                              Amendment of Section 7. 
Subsection 3(ii) of Section 7(b) is hereby deleted and
replaced with the following to read as follows:

 

“A majority of the
members of the Board is replaced during any 12-month period by directors whose
appointment or election is not endorsed by a majority of the members of the
Board.”

 

1.2.                              Amendment of Section 8(a).  Section 8(a)(i) is hereby deleted
and replaced with the following to read as follows:

 

“If your
employment with the Company or its successor is terminated other than for Cause
or by you for Good Reason within twenty-four months following a Change in
Control, the total amount of payments made under this Section 8(a) shall
be paid in a lump sum within 30 days of the first date possible in accordance
with Section 409A of the Code and not in periodic installments over a
two-year period;”

 

1.3.                              Amendment of Section 8(b).  Section 8(b) is hereby deleted and
replaced with the following to read as follows:

 

 

“(b)                                          Bonus.  You shall be
entitled to receive in lieu of the bonus provided in Section 2(b) an
amount equal to two (2) times your targeted level bonus for the year
during which your termination occurs, in no case to be less than the target
bonus set forth in Section 2(b), payable in periodic installments,
consistent with the Company’s payroll procedures then in effect, over the
salary continuation period; provided, however, that:

 

(i)                                     If
your employment with the Company or its successor is terminated other than for
Cause or by you for Good Reason within one (1) month prior to or
twenty-four (24) months following a Change in Control, the total amount of
payments made under this Section 8(b) shall be equal to:

 

(A)                              two
(2) times the greater of (x) your targeted level bonus for the year
during which your termination occurs, in no case to be less than the target
bonus set forth in Section 2(b) or (y) the bonus most recently paid to you pursuant to Section 2(b),
plus

 

(B)                                an
amount equal to the greater of (x) your targeted level bonus for the year
during which your termination occurs, in no case to be less than the target
bonus set forth in Section 2(b) or (y) the bonus most recently paid to you pursuant to Section 2(b);
provided, however, that such amount
shall be prorated based upon the fraction of the year during which your
termination occurs that you are employed by the Company, where the numerator
will equal the number of days so employed and the denominator will equal three
hundred sixty-five (365);

 

(ii)                                  if
your termination of employment with the Company or its successor is terminated
other than for Cause or by you for Good Reason within twenty-four months
following a Change in Control, the total amount of payments made under this Section 8(b) shall
be paid in a lump sum within thirty (30) days of the first date possible in
accordance with Section 409A of the Code and not in periodic installments
over a two-year period;

 

(iii)                               in
accordance with Section 409A of the Code, payments made under this Section 8(b) shall
commence no earlier than the date that is six (6) months after your
termination date.”

 

1.4.                              A
new Section 11 shall be added to the Agreement, which shall read as
follows:

 

“Compliance with Code Section 409A.

 

(a)                                  Reimbursements. 
Notwithstanding anything else to the contrary in this Agreement, all
reimbursements payable under this Agreement, including, without limitation, for
relocation expenses and/or taxes shall be paid to you as soon as practicable
after submission of proper documentation of claims, but no later than December 31
of the year following the year during which the expense was incurred 

 

2

 

or, with respect to any
gross-up payment under Sections 6(b) and 8(f), no later than December 31
of the year following the year during which you or the Company paid the related
taxes.

 

(b)                                 Specified Employee. 
Notwithstanding anything else to the contrary in this Agreement, if (i) you
are entitled to receive payments or benefits under this Agreement by reason of
your separation from service (as such term is defined in Code Section 409A)
other than as a result of your death, (ii) you are a “specified employee”
within the meaning of Code Section 409A for the period in which the
payment or benefits would otherwise commence, and (iii) such payment or
benefit would otherwise subject you to any tax, interest or penalty imposed
under Code Section 409A (or any regulation promulgated thereunder) if the
payment or benefit would commence within six months of a termination of your
employment with the Company, then such payment or benefit required under this
Agreement shall not commence until the first day which is at least six months
after the termination of your employment.”

 

2.                                       Miscellaneous.

 

2.1.                              No Other Changes. 
Except as expressly provided in this Amendment No. 1, all terms of
the Agreement shall remain in full force and effect.

 

2.2.                              Counterparts.  This
Amendment No. 1 may be executed in two or more counterparts, each of which
shall be deemed an original, but both of which together shall constitute one
and the same instrument.

 

3

 

In WITNESS WHEREOF,
the Parties have caused this Amendment No. 1 to be duly executed as of the
Amendment No. 1 Date.

 

 

	
  MEDAREX, INC.

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Thomas K. Kaney

  	
   

  
	
   

  	
   

  
	
  Name:

  	
  Thomas K. Kaney

  	
   

  
	
   

  	
   

  
	
  Title:

  	
  Sr. V.P. Human Resources

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  EXECUTIVE

  	
   

  
	
   

  	
   

  
	
  /s/ Howard H. Pien

  	
   

  
	
  Howard H. Pien

  	
   

  

 

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