Document:

SONS-EX 10.5 Polizzi Consulting Agmt 5-1-15

	
			
	
	 
	

Exhibit 10.5

May 1, 2015

PERSONAL AND CONFIDENTIAL

Peter Polizzi
By email 

Dear Peter:

This consulting agreement (“Agreement”) is effective as of May 1, 2015 (“Effective Date”), by and between Sonus Networks, Inc. (“Sonus”) and Peter Polizzi (“Consultant”).  Sonus and Consultant hereby agree to the following:
1. Title, Term, and Termination.  Sonus will retain Consultant as “Advisor to the CEO,” and Consultant will accept such retention, commencing as of the Effective Date of this Agreement and terminating on September 30, 2015.  This Agreement may be terminated by Consultant for any reason or no reason upon thirty (30) days written notice to Sonus.  Sonus may terminate this Agreement only for cause.
2. Compensation.  Consultant shall be paid $10,000 per month during the term of this Agreement, as compensation for all services rendered.  Consultant shall have the responsibility for the payment of all federal, state and local taxes for any compensation payable to Consultant hereunder; provided, however, to the extent required by law, the Company may withhold from compensation payable to Consultant all applicable federal, state and local withholding taxes.
3. Independent Contractor. The parties agree that Consultant is an independent contractor, and no other relationship, status, or legal organization shall be implied or created by this Agreement.  Consultant shall have no power or authority to bind the Company or act on behalf of the Company in any manner.

4. Confidential Information.  The terms of the Non-Disclosure Agreement (“NDA”) between the Company and the Consultant of even date herewith in the form attached hereto is hereby incorporated by reference. The terms of the Confidentiality, Non-Competition and Assignment of Inventions Agreement, earlier signed by Consultant as a full-time employee, shall survive the signature of the NDA.

5. Governing Law.  This Agreement shall be governed by and construed in accordance with the internal laws of the Commonwealth of Massachusetts, without regard to its choice of law principles, and the parties agree that all disputes will be submitted to courts in Massachusetts. 
	
			
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	Sonus Networks, Inc.
	 
	Peter Polizzi

	 
	 
	 

	/s/ Jeffrey M. Snider
	 
	/s/ Peter Polizzi

	Signed: Jeffrey M. Snider
	 
	Date: May 1, 2015

	Title: Chief Administrative Officer
	 
	 

	Date: May 1, 2015
	 
	 

	
	
	

Non-Disclosure Agreement

This NON-DISCLOSURE AGREEMENT (“Agreement”), effective as of the date of execution by both parties (the “Effective Date”), is between Sonus Networks, Inc. including its subsidiaries and affiliates, with offices located at 4 Technology Park Drive, Westford, Massachusetts 01886 (the “Company”) and Peter Polizzi with offices/address located at 5 Colonial Road, Port Washington, New York (the “Recipient”).  The Company would like the Recipient to provide services (“Services”) as a contractor or consultant to the Company and, to further these ends, the Company may disclose Confidential Information (as defined below) to the Recipient to assist the Recipient in performing such Services. This Agreement covers information that has been previously disclosed by the Company and information that will be disclosed by the Company on or after the Effective Date.

1.    "Confidential Information" shall mean all commercially valuable, proprietary and confidential information and trade secrets with respect to the Company’s business and products, whether of a technical, business or other nature (including, without limitation, know-how and information relating to the technology, customers, business plans, promotional and marketing activities, finances and other business affairs of Company), that has been or is disclosed to Recipient or is otherwise learned by Recipient in the course of its discussions or business dealings with, or its physical or electronic access to the premises of, the Company, and that has been identified as being proprietary and/or confidential or that by the nature of the circumstances surrounding the disclosure or receipt ought to be treated as proprietary and confidential.

2.    The Recipient agrees that all Confidential Information of the Company shall (a) remain the secret and confidential property of Company, which the Recipient will hold and protect in secrecy and confidence using all reasonable precautions including, but not limited to, using precautions no less stringent than those employed by the Recipient to protect its own Confidential Information but in no event less than a reasonable degree of care; (b) not be used for any purpose other than evaluation and/or provision of the Services; (c) not be disclosed to any person other than those employees or consultants of the Recipient who have a need to know the Confidential Information to perform the Services (and the Recipient shall be responsible for any breach of this Agreement by any of them); and (d) not be recorded or copied except to the extent specifically authorized by the Company in writing. In addition, without prior written consent of the Company, the Recipient will not disclose the fact that the Services are being contemplated by or provided to the Company.
3.    The restrictions set forth above shall not apply to information that the Recipient can establish (a) is now or subsequently becomes in the public domain; (b) is lawfully received by the Recipient from a third party not bound in a confidential relationship to the Company; (c) was already in the Recipient’s possession at the time such information was disclosed by the Company to the Recipient; or (d) was independently developed by the Recipient without use of the information disclosed under this Agreement.  If a portion or aspect of the Confidential Information becomes generally known, only that portion or aspect shall not be governed by this Agreement and all other aspects of the Confidential Information shall remain subject to the provisions of this Agreement.
4.    The Recipient shall destroy or return to the Company, at the Company’s request, all Confidential Information (including, without limitation, any copies, extracts or other reproductions in whole or in part of such Confidential Information) within ten (10) days of any such request by the Company and the individual or officer of the Recipient supervising such destruction shall certify in writing to the Company that such destruction occurred.  Any oral Confidential Information shall be kept confidential subject to this Agreement.
5.    The Recipient agrees not to decompile, reverse engineer or disassemble any portion of the Company’s products.  
6.All information is provided “as is” and without any warranty, express, implied or otherwise, regarding its accuracy or performance. 
7.If a Recipient becomes compelled by law or court order to disclose Confidential Information of the Company, the Recipient will provide the Company with prompt notice of such requirement so the Company may seek a protective order or other appropriate remedy. If such protective order or other remedy is not obtained, the Recipient agrees to furnish only that portion of the Confidential Information that it is advised by legal counsel is required by applicable law or court order, and such disclosure will not result in any liability hereunder.  
8.    The Recipient acknowledges that any violation of this Agreement may have a material adverse effect upon, and result in irreparable damage to, the Company and that, in the event of any such violation, without limiting any other available remedies, the Company shall be entitled to seek an injunction and other equitable relief, without the need for proving actual damages or the posting of a bond.  No failure or delay by either party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise or any right, power or privilege.
9.    The Recipient certifies that none of the Company’s Confidential Information, or any portion thereof, will be exported to any country in violation of any applicable export control laws or regulations.  
10.    From time to time during the term of this Agreement, the Company may disclose information related to future products, features or enhancements in order to support and obtain feedback for the Company’s vision and strategy for development efforts and plans (“Product Roadmap”).  Development efforts and plans are subject to change at any time, without notice.  The Company provides no assurances that the Company will introduce future products, features or enhancements described in a presentation containing Product Roadmap information, and the Company assumes no responsibility to introduce such products, features or enhancements.  
11.    This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and may only be amended by a writing signed by both parties.  Either party may terminate this Agreement upon sixty (60) days written notice to the other party. Notwithstanding the foregoing, the obligations of the parties contained in this Agreement shall survive indefinitely and continue beyond the termination of this Agreement. If any provision of this Agreement is found invalid or unenforceable under any applicable law, such invalidity or unenforceability shall not affect the validity or enforceability of the remaining portions of this Agreement.  This Agreement will be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts without regard to its rules regarding conflicts of law.  The parties irrevocably submit to the exclusive jurisdiction of the courts of the Commonwealth of Massachusetts.  The language of this Agreement shall be construed as a whole, according to its fair meaning, not strictly for or against either party, with no regard whatsoever to the status of any person who drafted all or any portion of this Agreement.  This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which taken together shall be deemed to constitute one and the same instrument.  This Agreement may not be assigned by either party.
12.     Notwithstanding any provision to the contrary, Recipient agrees to comply with all applicable laws with regard to its receipt, processing and holding of Discloser information, including without limitation employee information, and compliance with privacy laws.
	
		
	COMPANY:  SONUS NETWORKS, INC.

	By:
	By: /s/ Jeffrey M. Snider

	Name:
	Name: Jeffrey M. Snider

	Title:
	Title: Chief Administrative Officer

	Date:
	Date: May 1, 2015

	RECIPIENT

	By:
	By: /s/ Peter Polizzi

	Name:
	Name: Peter Polizzi

	Date:
	Date: May 1, 2015Exhibit101toQ2201510-Q-KellyCOOOfferLetter

Exhibit 10.1

May 1, 2015

Liam Kelly
[ADDRESS DELETED]

Dear Liam,

On behalf of Teleflex Incorporated (the “Company”), I am pleased to confirm our offer of employment as Executive Vice President and Chief Operating Officer. You will be based at our facility located in Wayne, PA and report directly to me. The effective date of your U.S. employment will be the later of May 1, 2015 or the date on which you sign a Compromise Agreement terminating your employment with Teleflex Medical Europe Limited.

The key provisions of the offer package are as follows:

Base Salary: You will receive an annual base salary of $550,000.00, to be paid bi-weekly in arrears. 

Annual Incentive Plan (AIP):  In addition to your base salary, you will be eligible to participate in the Teleflex Annual Incentive Plan (AIP) with a target payout of 75% of your annual base salary.  The AIP is designed to provide an annual cash incentive award to eligible employees who meet certain performance criteria.  Any potential award would be based on your performance and the financial performance of Teleflex Incorporated.  Teleflex reserves the right to change, add to, or modify this plan in whole or in part, for any reason without advance notice, during the plan year and from year to year.

Equity:  You will be eligible for consideration to receive equity grants under the Company’s equity incentive plan.  Equity grants typically occur annually based on individual performance and company financial performance.  All equity grants are subject to approval by the Compensation Committee of the Teleflex Incorporated Board of Directors.

Promotional Equity Grant:  You will be recommended for a promotional equity grant with an equivalent USD value of $240,000 delivered as a combination of 7,380 Stock Options, vesting in three equal annual installments commencing on the first anniversary of the grant date, and 722 shares of Restricted Stock, vesting 100% on the third anniversary of the grant date.

Car Benefit: In this position, you will continue to be provided with a leased car, at the Company’s expense.

Employee Benefits: In this position, you will continue to participate in the U.S. medical, dental, vision and prescription benefit program.  In addition, you will now be eligible to participate in the Teleflex short and long-term disability insurance programs, a 401(k) Savings Plan, educational tuition assistance, paid time off (PTO), and Company-paid holidays in accordance with the schedule of paid holidays for the Wayne, PA Corporate office.  The enclosed Benefits Summary outlines the details of our benefits. Although Teleflex Incorporated maintains its benefit plans on an ongoing basis, the Company reserves the right to terminate or amend each plan, in part or in its entirety, at any time.

Executive Benefits:

		
	•
	Life Insurance:  You will be eligible for an enhanced life insurance benefit equal to 3x your annual earnings up to a maximum payout of $2,000,000.  

		
	•
	Deferred Compensation:  You will be eligible to participate in the Teleflex Incorporated Deferred Compensation Plan.    Each plan year the Company may, at its discretion, make contributions to your Deferred Compensation Account:

		
	◦
	Non-Elective Contribution -- 5% of your base salary and AIP bonus less the maximum Company contribution under the Teleflex 401(k) Savings Plan

		
	◦
	Matching Contribution -- up to 3% of your contributions on your base salary and AIP bonus to the Deferred Compensation Plan

Please see the attached summary of the Company’s deferred compensation plan for full details.

Service Recognition:  The Company will recognize your years of service with Teleflex Medical Europe Limited for benefits purposes, and will consider your hire date with the Company as April 1, 2009.

Repatriation Assistance:  Should your employment be terminated by the Company for any reason other than Cause (as defined in your Senior Executive Officer Severance Agreement effective as of May 1, 2015) prior to you obtaining a U.S. green card, the Company agrees to pay for repatriation of you and your spouse and dependent children back to Ireland, consisting of: (1)  one-way economy class airfare from Philadelphia, PA, USA to Dublin, Ireland, and transportation from the Dublin airport to your destination within Ireland, and (2) shipment of your approved household goods back to Ireland.

Your employment by the Company is at will and may be terminated by either party at any time, subject to the giving of notice as defined in your Senior Executive Officer Severance Agreement and/or Executive Change in Control Agreement.  Nothing in this letter changes the at-will nature of your employment.
  
If you have any questions regarding this offer, please feel free to contact Cam Hicks.

Please indicate your acceptance of this offer by signing in the space provided and returning the letter.  Please retain one original copy for your records.

Liam, we are very excited about your future with Teleflex and the leadership you bring to our global organization.  The Board of Directors and I believe you will make significant contributions to our growth and future success. 

Sincerely, 

/s/ Benson Smith

Benson Smith
Chairman, President and CEO

Accepted and agreed:

/s/ Liam Kelly
Liam Kelly

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