Document:

sypr20161231_10k.htm

Exhibit 10.26

 

	

 

 

ADOPTED ON SEPTEMBER 1, 1995

 

AMENDED AND RESTATED ON MARCH 14, 2017

 

Description of the Program

 

 

Name. The name of this benefit program shall be the “Directors Compensation Program.”

 

Purpose. The purpose of the Directors Compensation Program is to enable Sypris Solutions, Inc. (the “Company”) to attract, retain and motivate experienced directors by providing compensation that is competitive with compensation offered to directors of other similarly-situated public corporations in the United States.

 

Eligibility and Participation. Only “Eligible Directors,” defined as those members of the Board of Directors of the Company (the “Board”) who are not otherwise employed by the Company, its subsidiaries or any affiliate of the Company in any other capacity, are eligible to participate in the Directors Compensation Program. Any Eligible Director on the Board as of January 21, 2016 (the “Effective Date”) and thereafter shall be eligible for compensation under the Directors Compensation Program.

 

Compensation. Eligible Directors shall be compensated as set forth below:

 

 

(a)            Annual Retainer.

 

(i) Amount. Each Eligible Director shall receive an annual retainer in the amount set forth on Exhibit 1 hereto which may include cash and/or equity grants under the 2015 Sypris Omnibus Plan (the “Annual Retainer”). Service for a partial year will be compensated in cash on a prorated basis as determined by the Committee (“Prorated Annual Retainer”).

 

(ii) Quarterly Cash Payment. The cash portion of the Annual Retainer or the Prorated Annual Retainer, as applicable, shall be earned by the Eligible Directors and paid by the Company in equal quarterly installments for each Eligible Director. The quarterly installments of the Annual Retainer or Prorated Annual Retainer shall be payable, in arrears by checks issued to each Eligible Director no later than the 15th calendar day following the end of each of the Company’s fiscal quarters during which the respective Eligible Director served on the Board. 

 

(iii) Annual Equity Awards: The equity portion of the Annual Retainer will be awarded on the date of the annual meeting of stockholders for all continuing directors effective immediately following the close of the meeting.

 

 

Page 1 of 2 

 

 

(b)           Extraordinary Awards.

 

(i) The Committee has the authority to recommend to the Board, grants of individual equity awards for services as a Director, beyond the Annual Retainer in their sole discretion. 

 

Expense Reimbursement. Each Eligible Director shall be reimbursed for travel and other expenses incurred in the performance of his or her duties.

 

Administration. The Directors Compensation Program is administered by the Compensation Committee of the Board. The Committee members are selected by the Board and have no specific term of office.

 

Resignation from the Board of Directors. The resignation of any Eligible Director shall cause such director to be ineligible to receive any amount of the Fee installments not yet earned by him or her as of the date of resignation. 

 

Program Termination or Modification. The Compensation Committee shall review the Directors Compensation Program on at least an annual basis and may make changes, alterations or modifications to the program which are deemed to be in the Company’s best interest. Any change, alteration or modification shall be made by a written instrument consented to by the Board. The Board may similarly terminate the Directors Compensation Program at any time if, in the judgment of the Board, such termination is in the Company’s best interest.

 

 

IN WITNESS WHEREOF, the Company has caused this Directors Compensation Program to be executed in its name and on its behalf on March 14, 2017. 

 

 

	
 
	
SYPRIS SOLUTIONS, INC.
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
  By: 
	
/s/ Jeffrey T. Gill
	
 

	
 
	
 
	Jeffrey T. Gill	
 

	
 
	
 
	
President and CEO
	
 

 

 

Page 2 of 2EX-10.1

 Exhibit 10.1 

AMENDMENT TO EMPLOYMENT AGREEMENT 

THIS AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) by and between Computer Sciences Corporation, a Nevada corporation
(the “Company”), and J. Michael Lawrie (the “Executive” and, together with the Company, the “Parties”), shall be effective as of March 27, 2017 (as defined below) (the “Amendment
Effective Date”). 
 WHEREAS, the Company and Executive entered into that certain Employment Agreement (the “Employment
Agreement”) dated as of February 7, 2012, as amended; 
 WHEREAS, the Term of Employment, as defined in the Employment
Agreement, was previously extended by agreement between the Parties for a period of one (1) year on the same terms and conditions as set forth in the Employment Agreement; 

WHEREAS, the Parties now wish to amend the Employment Agreement to extend the Employment Agreement for an additional one-year period; 
 WHEREAS, the Board of Directors of the Company has approved the amendment of the
Employment Agreement in the manner reflected herein. 
 NOW THEREFORE, in consideration of the premises and mutual covenants and conditions
herein, the Parties, intending to be legally bound, hereby agree as follows, effective as of the Amendment Effective Date: 
 1. As of the
Amendment Effective Date, the Term of Employment shall be extended through the earliest to occur of (i) March 31, 2019 or (ii) the date of termination of Executive’s employment in accordance with any one of Sections 5(a) through
5(f) of the Employment Agreement; provided, however, that the Term of Employment is subject to annual Amendment upon mutual agreement of the Parties not later than six (6) months prior to the end of the Company’s fiscal
year 2019 or any extended annual period. 
 2. Capitalized terms used but not defined in this Amendment shall have the meanings given to
them in the Employment Agreement. This Amendment may be executed in two or more counterparts each of which shall be legally binding and enforceable. 

 3. All terms and provisions of the Employment Agreement not amended hereby, either expressly or
by necessary implication, shall remain in full force and effect. From and after the date of this Amendment, all references to the term “Agreement” in the Employment Agreement shall include the terms contained in this Amendment. 

[Signature Page Follows] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Amendment to Employment Agreement
effective as of the Amendment Effective Date. 
  

					
	Executive:	 		 	For the Company:
			
	 /s/ J. Michael Lawrie
	 		 	 By: /s/ William Deckelman

	Signature	 		 	 Name:  William Deckelman

		 		 	 Title:    EVP – General Counsel

	 J. Michael Lawrie
	 		 	
	Printed Name	 		 	
			
	 March 28, 2017
	 		 	
	DateExhibit
10.1

 

March
28, 2017

  

Ajit
S. Shetty

Apt
.. 111

Zeedijk
643

8300
Knokke - Heist

Belgium

 

Dear
Dr. Shetty:

 

On
behalf of Actinium Pharmaceuticals, Inc. (the “Company”), I am pleased to offer you the position of a director
of the Company’s Board of Directors (the “Board”). Speaking for myself, as well as the other members
of the Company’s Board, we are all very impressed with your credentials and look forward to your future success in this
position. You shall remain as a director of the Company from the date hereof until your resignation, or successor, if any, is
elected or qualified (the “Termination Date”). You shall be classified as a Class III director and be up for election
at the 2019 annual shareholders meeting, with a three year term thereafter. If your position is terminated prior to the Termination
Date, you shall only be entitled to the director payments payable and the options that have vested as of such date. You shall
also on the date hereof sign an Indemnification Agreement with the Company.

 

For
your service on the Board you will receive a quarterly cash retainer of $10,000 per calendar quarter. The Board has also agreed
to grant to you an option to purchase common shares of the Company (the “Initial Grant”). The Initial Grant
will consist of an option grant to purchase 75,000 common shares of the Company, with an exercise price equal to the closing price
of the common stock on the NYSE MKT on the date of your appointment to the Board. The term of the Initial Grant is 10 years from
the date of grant (the “Vesting Commencement Date”), subject to your continuing service with the Company. So
long as your director relationship with the Company continues, the shares underlying the Initial Grant shall vest in accordance
with the following schedule: 28% of the shares subject to the option shall vest and become exercisable on the twelve month anniversary
of the Vesting Commencement Date and 2% of the total number of shares subject to the option shall vest and become exercisable
each month after the vesting commencement. The options will be incentive stock options to the maximum extent allowed by the tax
code and will be subject to the terms of the Company’s 2013 Stock Plan and the Stock Option Agreement between you and the
Company.

 

You
shall be reimbursed for all normal items of travel and entertainment and miscellaneous expenses reasonably incurred by you on
behalf of the Company provided such expenses are documented and submitted in accordance with the reimbursement policies in effect
from time to time.

 

     

     

    

 

This
agreement sets forth the terms of your director relationship with the Company and supersedes any prior representations or agreements,
whether written or oral. This agreement may not be modified or amended except by a written agreement, signed by the Company and
by you. Whenever possible, each provision of this agreement will be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any
applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will be lessened or reduced to the
extent possible or will be severed and will not affect any other provision and this agreement will be reformed, construed and
enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. This agreement
will be governed by New York law without reference to rules of conflicts of law. All notices, requests, demands and other communications
called for hereunder shall be in writing and shall be deemed given (i) on the date of delivery if delivered personally, (ii) one
(1) day after being sent by a well established commercial overnight service, (iii) three (3) days after being mailed by registered
or certified mail, return receipt requested, prepaid and addressed to the parties or their successors at the following addresses,
or at such other addresses as the parties may later designate in writing, (iv) upon confirmation of facsimile transfer, if sent
by facsimile or (v) upon confirmation of delivery when directed to the electronic mail address set forth below, if sent by electronic
mail:

 

	 	If
    to the Company: 	275
    Madison Avenue, 7th Floor
	 	 	New
    York, NY 10016
	 	 	 
	 	If
    to you:	Apt
    . 111
	 	 	Zeedijk
    643
	 	 	8300
    Knokke - Heist
	 	 	Belgium

  

We
are all delighted to be able to extend you this offer and look forward to working with you as a Director of the Company. To indicate
your acceptance of the Company’s offer, please sign this letter in the space provided below. This agreement shall be effective
on the date set forth below.

 

	Very truly yours,		ACCEPTED
    AND AGREED:
	 	 	 
	ACTINIUM PHARMACEUTICALS, INC.

	 
	 	 	 
	By: 	/s/
    Sandesh Seth	 	/s/
    Ajit S. Shetty
	 	Sandesh
    Seth	 	Ajit
    S. Shetty
	 	Executive
Chairman
	 	 
	 	 	 	 
	Date: March 28, 2017	 	Date: March 28, 2017

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