Document:

Letter agreement between Nabi Biopharmaceuticals, Inc. and Jordan Siegel

 Exhibit 10.2 
 Nabi Biopharmaceuticals 
 12276 Wilkins Avenue 
 Rockville MD 20852 
 February 27,
2008 
 Jordan Siegel 
 38 Fort Royal Isle 
 Ft. Lauderdale, FL 33308 
  

	 	Re:	Dual Employment and Certain Compensation Matters 

 Dear Jordan:

 Reference is made to the following agreements between you (the “Executive”) and Nabi Biopharmaceuticals (“Nabi”)
(collectively, the “Nabi Agreements”): (a) that certain Employment Agreement, dated as of April 29, 2006 (the “Nabi Employment Agreement”); (b) that certain Change of Control Severance Agreement,
dated as of April 29, 2006; (c) that certain Relocation, Sign-On Bonus Repayment Agreement, dated as of April 29, 2006 (the “Sign-On Agreement”); (d) that certain Indemnification Agreement, dated as of
April 29, 2006; and (e) those certain stock option and restricted stock agreements between the Executive and Nabi under the 2007 Omnibus Equity and Incentive Plan and the Executive’s inducement stock option and restricted stock
agreements dated June 12, 2006 (the “Equity Agreements”). 
 1. Dual Employee. Pursuant to Section 4 of
that certain side letter agreement (the “Side Letter Agreement”), dated as of December 4, 2007, by and among Nabi, Biotest Pharmaceuticals Corporation (“Biotest”) and Biotest AG (the “Parent,” and
together with Nabi and Biotest, collectively, the “Parties”), the Parties have agreed, among other things, that the Executive could be employed or engaged by both the Parent and Nabi for a period of time. Nabi acknowledges and
agrees that the Executive is intended to be a third party beneficiary of Section 4 of the Side Letter Agreement, eligible to enforce his rights thereunder against the Parties as if he had been an original signatory thereto. Notwithstanding
Section 7(A) of the Nabi Employment Agreement, the Executive may terminate the Executive’s employment with Nabi on or before March 28, 2008 by giving less than thirty (30) days’ prior written notice to Nabi. 
 2. Affected Employee. Nabi agrees that if the Executive has not otherwise become an “affected employee” because he becomes an employee
of Biotest prior to the date (the “10-K Filing Date”) that Nabi files its Annual Report on Form 10-K for the fiscal year ended December 29, 2007 (the “10-K”), he shall be deemed to be an “affected employee” if he
remains Chief Financial Officer and Chief Accounting Officer of Nabi through the 10-K Filing Date and signs the 10-K as such. Upon becoming an “affected employee” he shall be entitled to all rights and benefits as such, including, without
limitation, acceleration of the vesting of all of his unvested restricted stock that would have vested through 2009 and all of his unvested stock options issued under the Equity Agreements. 

 3. Pro Rata Bonus and Acceleration of Equity Awards. Without limiting the generality of, and in
addition to, the foregoing, if the Executive remains Chief Financial Officer and Chief Accounting Officer of Nabi through the 10-K Filing Date and signs the 10-K as such, (i) the Executive shall receive a one-time cash bonus of $42,900 (the
“Bonus”) in lieu of all other bonuses for 2008 to which the Executive may be entitled under the VIP Management Incentive Plan or any bonus plan or agreement between Nabi and the Executive (the Executive’s bonus for 2007 under the VIP
Management Incentive Plan is not affected by this letter agreement), and (ii) all of the Executive’s stock options and restricted stock issued under the Equity Agreements (the “Equity Awards”) which are unvested as of the
date of the termination of the Executive’s employment shall immediately vest upon the date of termination and all stock option Equity Agreements shall be automatically amended to provide that all stock options under outstanding Equity Awards
shall be exercisable for twelve (12) months from the date of termination, except that no such stock options shall be exercisable beyond the original Equity Award’s expiration date. The Bonus shall be paid within thirty (30) days of
the date of termination of the Executive’s employment with Nabi. The Executive’s right to receive the Bonus and other benefits under this Section 3 is conditioned upon the Executive’s execution and delivery (and non-recession for
seven (7) days thereafter) of the Release attached hereto as Exhibit A. 
 4. Biotest Agreements. Nabi acknowledges and
agrees that, in addition to the Nabi Agreements, the Executive may become a party to an employment agreement and/or a consulting agreement, in each case, with Biotest (the “Biotest Agreements”). Nabi acknowledges and agrees that
through March 28, 2008 neither the Executive’s employment and/or engagement by Biotest or his services or activities in connection therewith nor the existence of the Biotest Agreements is or will be a breach of any provision of any of the
Nabi Agreements, including, without limitation, the provisions regarding the Executive’s duties and services owed to Nabi, the representations and warranties made by the Executive to Nabi and the restrictive covenants to which the Executive is
subject. Nabi further acknowledges and agrees that through March 28, 2008 none of the foregoing gives or will give rise to the right of termination of the Executive for “cause” (as defined in the Nabi Employment Agreement) by Nabi
under the Nabi Employment Agreement and that Nabi cannot and will not terminate the Executive for “cause” under the Nabi Employment Agreement with respect to or in connection with any of the foregoing. 
 5. Plans and Benefits. Nabi acknowledges and agrees that its obligations to the Executive under the Nabi Agreements shall continue and be
unaffected by the Biotest Agreements or the matters contemplated thereby through March 28, 2008. Further, for so long as the Executive is employed by Nabi, the Executive and his immediate family members to continue to be eligible to participate
in all of the life insurance, disability insurance, medical, dental and health insurance, vacation, savings, pension and retirement plans and other benefit plans and programs maintained by Nabi for the benefit of its employees (collectively, the
“Plans”) to the same extent and in the same manner in which the Executive and his immediate family members had been eligible to participate immediately prior to the Effective Date (as defined below). To the extent that the Executive
or any member of his immediate family does not receive the benefits contemplated by the foregoing, unless the Executive is receiving comparable benefits from Biotest, Nabi shall, upon demand by the Executive, either fully reimburse the Executive
and/or his beneficiaries on an after-tax basis for any and all amounts paid by him and/or them in connection with any of the foregoing or pay the Executive and/or his 

 
beneficiaries the benefit differential, at the election of the Executive and/or his beneficiaries. Nabi further acknowledges and agrees that, for purposes of
all plans and programs regarding expense reimbursement or allowances, equity incentive compensation, bonuses (retention, annual or otherwise), short- or long-term incentives or other similar matters contemplated by the Nabi Employment Agreement, the
Executive’s full-time employment by Nabi through March 28, 2008 shall be deemed to be uninterrupted and participation therein shall continue and be unaffected by the Biotest Agreements or the matters contemplated thereby. Nabi acknowledges
and agrees that it has independent obligations under this letter agreement to cause benefits to be paid or provided to the Executive and his immediate family members under its Plans or, to the extent that the Plans do not pay or provide these
benefits, to pay an amount directly to the Executive and/or his beneficiaries. 
 6. Controlling Document. In the event of any
inconsistency between this letter agreement and the Nabi Employment Agreement, this letter agreement shall govern. 
 The offer represented
by this letter agreement will remain in existence and may not be revoked (including by amending or modifying this letter agreement) by Nabi until on or after March 28, 2008, provided that no revocation by Nabi may occur after the Effective
Date. Please signify your acceptance and agreement to this letter agreement by executing it in the space provided below. This letter agreement may be executed in one or more counterparts. This letter agreement shall become effective on the date that
it is executed by both the Executive and Nabi (the “Effective Date”). 
  

			
	Sincerely,
	
	NABI BIOPHARMACEUTICALS
		
	By:	 	 /s/ Raafat Fahim

		 	Raafat Fahim, Ph.D., President and Chief Executive Officer

  

	
	ACCEPTED AND AGREED TO:
	
	 /s/ Jordan Seigel

	Jordan Siegel
	
	Dated: February 27, 2008Stock Option Plan reserved to the Chairman and CEO of Telecom Italia S.p.A 2008

 EXHIBIT 4.2(e) 
  
 STOCK OPTION PLAN RESERVED TO THE CHAIRMAN
AND CHIEF EXECUTIVE OFFICER 
 OF TELECOM ITALIA
S.P.A. (TOP 2008 PLAN) 
  
 REGULATIONS 
  

	1.	 Description, Goals and Beneficiaries of the Plan 

  

	1.1.	 The present regulations (the “Regulations”) govern the incentive and loyalty plan (the “Plan”) reserved to Gabriele Galateri di Genola
and Franco Bernabé, respectively the Chairman and the Chief Executive Officer (jointly the “Beneficiaries” and severally the “Beneficiary” of the Plan) of Telecom Italia S.p.A. (the
“Company”), pursuant to the resolution adopted on April 14, 2008, at the ordinary shareholders’ meeting of the Company (the “Approval Resolution”). 

  

	1.2.	 The Plan consists in the allocation, which took place on April 15, 2008 (the “Grant Date”), of 3,000,000 options to the Chairman and of 8,400,000
options to the Chief Executive Officer (the “Options”). As described in Section 2, part of the Options is subject to specific performance objectives and has to be exercised under the terms and conditions laid down in
Section 3 below. 

  

	2.	 The Options 

  

	2.1.	 The Options are personal and non-transferable between living persons. They grant the right to purchase ordinary shares issued by the Company and held in treasury (the
“Shares”), in the ratio of one Share, with normal use, for every Option exercised. 

  

	2.2.	 The Options may be exercised as from the expiration of their vesting period (three years from the Grant Date) (the “Vesting Date”), provided that the
Beneficiary continues to be a director of the Company until the shareholders’ meeting called to approve the annual financial statements for the fiscal year 2010 and without prejudice to the provisions laid down in Section 3 below.

  

	2.3.	 The exercise of 75% of the Options is not subject to any performance parameters. 

  

	2.4.	 The exercise of the remaining 25% of the Options is conditional upon the level of the Performance Parameter (the “Performance Parameter”), which is the
Total Shareholder Return (the “TSR”) of the Company compared to the TSR of the 10 main telecommunications companies in the DJ STOXX TLC Index as of December 2007 (Vodafone Group P.L.C., Telefónica S.A., France Telecom S.A.,
Deutsche Telekom A.G., BT Group P.L.C., Royal KPN N.V., Telecom Italia S.p.A., TeliaSonera A.B., Telenor ASA, Hellenic Telecommunications Organization). Therefore, at the Vesting Date, the Options may be exercised as follows:

  

	 	·	 	 100% of the Options subject to the Performance Parameter, if Company’s TSR reaches the third quartile of the reference panel; 

  

	 	·	 	 50% of the Options subject to the Performance Parameter, if Company’s TSR reaches the median of the reference panel. 

  
 The entire portion of the Options subject to the Performance Parameter
will expire if the Company’s TSR does not reach the median of the reference panel. 
  
 The number of exercisable Options will be determined at the end of the relevant period for the assessment of the Performance Parameter. 
  

	2.5.	 Without prejudice to the provisions laid down in Section 3 below, the exercise period will last three years from the Vesting Date (the “Exercise
Period”), provided that for one year from the Vesting Date the Beneficiaries will be entitled to sell only a maximum of 50% of the Shares purchasable upon the exercise of the Options. The Options, which are not exercised by the end of the
Exercise Period, will expire and will grant no right to the Beneficiary and the persons entitled following the Beneficiary’s death. 

  

	2.6.	 The exercise price of the Option (i.e. the purchase price of the Share), as calculated according to the criteria set forth in the Approval Resolution, is Euro 1.95.

  

	2.7.	 Any contributions the Company is required to make pursuant to the applicable laws and regulations, and any individual declaration obligations, if required by applicable
rules, will remain for the Beneficiary’s account. 

  

	2.8.	 The Board of Directors – in order to maintain the essential contents and goals of the Plan, in the case of changes in the applicable legislation or extraordinary
events likely to influence the Plan itself – will go through all necessary procedures for the approval by the competent Company’s bodies of the changes required to adjust the terms and conditions for the exercise of the Options.

  

	2.9.	 The Beneficiaries are informed without delay of the adjustments, if any, pursuant to above Section 2.8. 

	3.	 Exercise of the Options 

  

	3.1.	 Each Beneficiary may exercise the Exercisable Options (the “Exercisable Options”) pursuant to the terms and conditions the relevant offices of the Company
will communicate. 

  

	3.2.	 The essential condition for the exercise of the Options is that the Beneficiary continues to be a director of the Company until the shareholders’ meeting called to
approve the annual financial statements for the fiscal year 2010, without prejudice to the cases of early vesting as described under Sections 3.3. and 3.4. 

  

	3.3.	 In the event of a tender offer for the Shares, termination of the employment relationship with a Beneficiary by the Company without good cause, and resignation by a
Beneficiary with good cause, the Options not subject to Performance Parameter condition (75% of the Options) will be deemed as vested and become immediately exercisable. 

  

	3.4.	 In the event of early termination of the entire Board of Directors or death of a Beneficiary, part of the Options not subject to Performance Parameter condition, pro rated
on the basis of the fraction of the three year period elapsed from the Grant Date up to such event, will be deemed as vested and become immediately exercisable. 

  

	3.5.	 In the event of death of a Beneficiary, the person(s) entitled will maintain the right to exercise the Exercisable Option, subject to the fulfilment of the obligations
laid down by the applicable regulations. 

  

	4.	 Notices and controversies 

  

	4.1.	 Notifications to the Beneficiaries pursuant to the present Regulations will be given in writing. 

  

	4.2.	 Any disputes originating from, dependent on or howsoever related to the Plan, will be decided exclusively by the Court of Milan. 

  

 Definitions 
  

	 Plan: 
	 the Top 2008 Stock Option Plan of Telecom Italia S.p.A. 

  

	 Regulations: 
	 the present document, which governs terms, characteristics and conditions of the Plan. 

  

	 Share/Shares: 
	 the ordinary Shares issued by Telecom Italia S.p.A., with a par value of Euro 0.55 each. 

  

	 Option/Options: 
	 the right(s) granted to the Beneficiaries to purchase treasury Shares from the Company at a fixed price (the “Exercise Price”). 

  

	 Exercise Price: 
	 price to be paid by the Beneficiaries in order to exercise their right to purchase the Shares. 

  

	 Performance Parameter: 
	 compounded Total Shareholder Return (TSR) of Telecom Italia, compared to the TSR of the 10 main companies of the DJ STOXX TLC Index. 

  
 

 
  
 where: 
  

	 	t	 Year of the Plan (2008, t=1; 2009, t=2; 2010, t=3) 

  

	 	 P0
	 Average of the official prices of the Shares in December 2007 (equal to € 2.182) 

  

	 	 P1
	 Average of the official prices of the Shares in December 2008

  

	 	 P2
	 Average of the official prices of the Shares in December 2009 

  

	 	 P3
	 Average of the official prices of the Shares in December 2010 

  

	 	 D1
	 Dividend paid in 2008 

  

	 	 D2
	 Dividend paid in 2009 

  

	 	 D3
	 Dividend paid in 2010 

  

	 Vesting Period: 
	 period of time during which the options cannot be exercised (as a rule, three years after the Grant Date - in exceptional cases this period of time can be reduced). 

  

	 Exercise Period: 
	 period of time during which the Exercisable Options can be exercised (three years from the end of the Vesting Period). 

  

	 Period for the assessment of the performance: 
	 period of time over which the level of achievement of the Performance Parameter is assessed.

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