Document:

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

 

 

 

 

 

 

 

Exhibit 10.1

form of amendment to employment agreement

WHEREAS, Seitel, Inc., a Delaware corporation (together with its successor and assigns, the "Company") and (name of executive) (the "Executive") have entered in an employment agreement dated January 30, 2007 (the "Agreement"); and

WHEREAS, Executive's Base Salary on April 30, 2009 is (executive base salary); and

WHEREAS, effective May 1, 2009 Executive has voluntarily determined to reduce his Base Salary as in effect on April 30, 2009 by 10% through December 31, 2009, and after December 31, 2009 his Base Salary shall return to the annual amount as in effect on April 30, 2009; and

WHEREAS, the Company and Executive acknowledge that such a voluntary reduction in Executive's Base Salary by Executive is not the occurrence of a Good Reason as defined in the Agreement; and

WHEREAS, Executive and Company acknowledge and agree that this reduction is not in exchange for any other payment or benefit; and

WHEREAS, the Company and Executive acknowledge and agree that the Company shall not be required to pay the amount of this 10% reduction in Base Salary to Executive at any time in the future.

NOW, THEREFORE, for the purposes of clarity, the Executive and Company hereby agree to add the following at the end of Section 4:
"During the calendar year 2009 for all purposes under this Agreement respecting benefits payable upon termination of employment, Executive's Base Salary shall mean the amount of (executive base salary) as in effect on April 30, 2009 as previously approved by the Company (or if applicable any increase by the Company above such amount) and shall not be reduced by any voluntary reduction in Base Salary by Executive."

IN WITNESS WHEREOF, the undersigned have executed this Agreement on June 2, 2009.

SEITEL, INC.

 

By:  ________________________________

Name:

Title:

EXECUTIVE:

 

____________________________________Myriad Genetics, Inc

Exhibit 10.1

Myriad Genetics, Inc.

Management Performance - Incentive Bonus Program

Fiscal Year 2010

The Compensation Committee of the Board of Directors of Myriad Genetics, Inc. has implemented an annual management performance - incentive bonus program for the purpose of establishing annual performance objectives for our executives, including our named executive officers, to align their performance with the overall goals and objectives for Myriad. This process commences in the fourth quarter of each fiscal year as each executive meets with our President and CEO to discuss (i) pre-determined financial targets related to the Company's operations and (ii) management business objectives (collectively "Performance Goals") for the ensuing fiscal year. After review and discussion, our President and CEO finalizes each executive's Performance Goals for the ensuing fiscal year. Similarly, our President and CEO meets with the Compensation Committee at the end of each fiscal year to propose his Performance Goals for the ensuing fiscal year which, after review and discussion, are finalized by the Compensation Committee. All executive Performance Goals are then reported to the independent members of the Board of Directors.

At the end of the ensuing fiscal year, each executive's performance for the fiscal year is reviewed, including an assessment by management and the Compensation Committee of the achievement of these Performance Goals. As a part of this review, we assess the degree of achievement of each of the financial targets related to the Company's operations, each executive officer's performance in each of the areas in which individual management business objectives were established, the financial performance of Myriad in the areas of responsibility of the executive officer, the overall financial performance of Myriad, and other significant accomplishments and contributions of the executive officer.  At this time, our President and CEO recommends an incentive cash bonus amount and salary adjustment for each executive officer, other than himself, for the ensuing fiscal year. The Compensation Committee, after further review and discussion with our President and CEO, then determines the annual cash bonus and base salary amount for each executive officer for the ensuing fiscal year.  The Compensation Committee reports all of its determinations regarding executive officer compensation to the independent members of the Board.

In the case of our President and CEO, the Compensation Committee makes its review of the degree of achievement of each of the financial targets related to the Company's operations, the President and CEO's performance in each of the areas in which individual management business objectives were established, the overall financial performance of Myriad, and other significant accomplishments and contributions of our President and CEO.  The Compensation Committee then determines an annual incentive cash bonus amount and adjustments, if any, to the base salary amount for our President and CEO without any compensation recommendations or input from our President and CEO, who is not present in any meetings of the Compensation Committee where his compensation is reviewed and discussed.  The Compensation Committee reports all of its determinations regarding the compensation of our President and CEO to the independent members of the Board.

The actual bonus amount for each executive officer is awarded each year in the discretion of the Compensation Committee based on the following formula:

Annual base salary of the executive officer times (a) the executive officer's pre-determined bonus target percentage, as adjusted by the Compensation Committee based on Company performance by a factor of 50% to 130%, and times (b) the executive officer's Performance Goals score (up to 100% - based on degree of accomplishment of Performance Goals as determined by the Compensation Committee).  

We also review and determine if there are any significant differences in the annual bonus of an executive officer compared to similar positions with the comparable companies in our industry as represented in the compensation data we utilize. We change annual cash bonuses if we deem such an adjustment is warranted based on differences in comparable market data, significant accomplishments for the year, changes in the scope of responsibilities of the executive officer, or internal pay inequities.

Further information about our management performance - incentive bonus program and other aspects of our executive compensation program are set forth in the definitive proxy statement for our annual meeting of shareholders, which we have filed with the Securities and Exchange Commission (the "SEC"). A copy of the proxy statement is available on the Internet through the SEC's electronic data system called EDGAR at www.sec.gov or through the Investor Relations section of our website at www.myriad.com .

We reserve the right to modify the management performance program, and the key corporate performance factors and criteria under the program, at any time.Form of Common Stock Certificate

 Exhibit 4.1 
 

 
  
 Exhibit 4.1 
 COMMON STOCK 
 NUMBER 
 MP 
 Myriad PHARMA 
 Myriad Pharmaceuticals, Inc. 
 INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE 
 SHARES 
 This
Certifies that is the owner of 
 COMMON STOCK 
 SEE REVERSE FOR CERTAIN DEFINITIONS 
 CUSIP 62856H 10 7 
 FULLY PAID AND NONASSESSABLE SHARES OF COMMON STOCK, $0.01 PAR VALUE PER SHARE, OF 
 Myriad Pharmaceuticals, Inc. transferable on the books of the Corporation in person or by duly authorized attorney on surrender of this
certificate properly endorsed. This certificate shall not be valid until countersigned and registered by the Transfer Agent and Registrar. 
 WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers. 
 Dated: 
 COUNTERSIGNED AND REGISTERED: 
 AMERICAN STOCK TRANSFER TRUST & COMPANY, LLC 
 (New York, NY) 
 TRANSFER AGENT AND REGISTRAR BY 
 AUTHORIZED SIGNATURE 
 SECRETARY 
 PRESIDENT AND CHIEF EXECUTIVE OFFICER 
 AMERICAN BANK NOTE COMPANY 711 ARMSTRONG LANE 
 COLUMBIA, TENNESSEE 38401 (931) 388-3003 SALES: HOLLY GRONER 615-261-0610 
 PRODUCTION COORDINATOR: DENISE LITTLE 931-490-1706 
 PROOF OF: JUNE 2, 2009 
 MYRIAD PHARMACEUTICALS, INC. 
 TSB 32495 FC LOT 4 
 OPERATOR: AP 
 R1 
 PLEASE
INITIAL THE APPROPRIATE SELECTION FOR THIS PROOF: OK AS IS OK WITH CHANGES MAKE CHANGES AND SEND ANOTHER PROOF 
 Colors
Selected for Printing: Logo prints CMYK. Intaglio prints in SC-20 dark brown. 
 COLOR: This proof was printed from a digital
file or artwork on a graphics quality, color laser printer. It is a good representation of the color as it will appear on the final product. However, it is not an exact color rendition, and the final printed product may appear slightly different
from the proof due to the difference between the dyes and printing ink. 
 © SECURITY-COLUMBIAN 
 UNITED STATES BANKNOTE COMPANY 1960 
 MYRIAD PHARMACEUTICALS, INC. 
 CORPORATE SEAL 2009 
 DELAWARE 

 

 
  
 The Corporation
will furnish without charge to each stockholder who so requests a statement of the powers, designations, preferences and relative, participating, optional, or other special rights of each class of stock or series thereof of the Corporation, and the
qualifications, limitations or restrictions of such preferences and/or rights. 
 This certificate also evidences and entitles
the holder hereof to certain Rights as set forth in a Shareholder Rights Agreement between Myriad Pharmaceuticals, Inc. (the “Corporation”) and American Stock Transfer & Trust Company, LLC (or any successor thereto), as Rights
Agent, dated as of June 30, 2009, as amended, restated, renewed, supplemented or extended from time to time (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 Corporation and the stock transfer administration office of the Rights Agent. Under certain circumstances, as set forth in the Rights Agreement, such Rights shall be evidenced by separate certificates and shall no longer be
evidenced by this certificate. The Corporation may redeem the Rights at a redemption price of $0.01 per Right, subject to adjustment, under the terms of the Rights Agreement. The Corporation shall 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, Rights issued to or held by Acquiring Persons or any Affiliates or Associates thereof (as
defined in the Rights Agreement), and any subsequent holder of such Rights, may become null and void. The Rights shall not be exercisable, and shall be void so long as held, by a holder in any jurisdiction where the requisite qualification, if any,
to the issuance to such holder, or the exercise by such holder, of the Rights in such jurisdiction shall not have been obtained or be obtainable. 
 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 also 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 POSTAL ZIP CODE OF ASSIGNEE 
 Shares of the common stock represented by the within Certificate, and do hereby irrevocably 
 constitute and appoint 
 Attorney to transfer the said stock 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. 
 SIGNATURE(S) GUARANTEED: 
 THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C.
RULE 17Ad-15. 
 AMERICAN BANK NOTE COMPANY 711 ARMSTRONG LANE 
 COLUMBIA, TENNESSEE 38401 (931) 388-3003 SALES: HOLLY GRONER 615-261-0610 
 PRODUCTION COORDINATOR: DENISE LITTLE 931-490-1706 
 PROOF OF: JUNE 4, 2009 
 MYRIAD PHARMACEUTICALS, INC. 
 TSB 32495 BK 
 OPERATOR: AP 
 R3 
 PLEASE INITIAL THE APPROPRIATE SELECTION FOR THIS PROOF: OK AS IS OK WITH CHANGES MAKE CHANGES AND SEND ANOTHER PROOF

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