Document:

Exhibit 10.1

Exhibit 10.1

AMENDMENT NO. 1

TO THE

CELGENE CORPORATION

2008 STOCK INCENTIVE PLAN

(AMENDED AND RESTATED AS OF JUNE 17, 2009)

WHEREAS, Celgene Corporation (the “Company”) maintains the Celgene Corporation 2008
Stock Incentive Plan (Amended and Restated as of June 17, 2009) (the “Plan”);

WHEREAS, pursuant to Article 14 of the Plan, the Board of Directors of the Company (the
“Board”) may at any time, and from time to time, amend, in whole or in part, any or all of
the provisions of the Plan; and

WHEREAS, the Board desires to amend the Plan, effective April 13, 2011, with certain
amendments subject to stockholder approval as provided herein.

NOW, THEREFORE, the Board takes the following action with regard to the Plan:

I. Pursuant to Article 14 of the Plan, the Plan is hereby amended as follows:

1. Subject to stockholder approval, the first sentence of Section 4.1(a) of the Plan is
amended in its entirety to read as follows:

“The aggregate number of shares of Common Stock which may be issued or used for reference
purposes under this Plan or with respect to which all Awards may be granted shall not exceed
81,981,641 shares (subject to any increase or decrease pursuant to Section 4.2).”

2. Subject to stockholder approval, the second sentence of Section 4.1(a) of the Plan is
deleted in its entirety.

3. Section 6.3(i) of the Plan is amended in its entirety to read as follows:

“(i) Repricing or Repurchase of Stock Options Prohibited. Notwithstanding any
other provision of the Plan to the contrary, an outstanding Stock Option may not be (a)
modified to reduce the exercise price thereof nor may a new Stock Option at a lower price be
substituted for a surrendered Stock Option (other than adjustments or substitutions in
accordance with Section 4.2), or (b) repurchased by the Company if the per share option price
of the Stock Option is less than the Fair Market Value of a share of Common Stock (other than
a cancellation for no value in accordance with Section 4.2(d), unless such action is approved
by the stockholders of the Company.”

4. Section 11.1 of the Plan is amended in its entirety to read as follows:

“11.1 Grants to Non-Employee Directors. The Committee may grant Non-Qualified
Stock Options and Restricted Stock Units to Non-Employee Directors from time to time as
determined in its sole and absolute discretion.”

 

 

 

5. Section 11.3(a) of the Plan is amended in its entirety to read as follows:

“(a) Options. With respect to Non-Qualified Stock Options granted to a
Non-Employee Director:

(i) Any grant made to a Non-Employee Director upon the date of the Non-Employee
Director’s initial election or appointment as a member of the Board (an “Initial Option
Grant”) shall vest in four (4) equal annual installments, with the first (1st)
installment vesting on the first (1st) anniversary of the date of grant; provided that the
holder thereof has been a Non-Employee Director of the Company at all times through such
date. Notwithstanding the forgoing, if a Non-Employee Director fails to stand for election at
an Annual Meeting and such Annual Meeting occurs prior to the vesting date for the annual
installment that otherwise would have vested in the year of such Annual Meeting, then such
installment shall vest on the day preceding such Annual Meeting; provided that the holder
thereof has been a Non-Employee Director of the Company at all times through such date.

(ii) Any grants made on and after an Annual Meeting to the Non-Employee Directors who
were elected at such Annual Meeting and are continuing as members of the Board as of the
completion of such Annual Meeting (an “Annual Option Grant”) shall vest in full on
the earlier of (i) the day preceding the date of the first (1st) Annual Meeting held
following the date of grant; and (ii) the first (1st) anniversary of the date of grant of the
Award, provided that, in each case, the holder thereof has been a Non-Employee Director of
the Company at all times through such date.

(iii) Notwithstanding the foregoing, any Initial Option Grant and Annual Option Grant
made to a Non-Employee Director shall become fully vested and exercisable effective upon the
occurrence of the Non-Employee Director’s Disability or death.”

6. Section 13.1 of the Plan is amended in its entirety to read as follows:

“13.1 Benefits. In the event of a Change in Control of the Company (as defined
below), except as otherwise provided by the Committee upon the grant of an Award:

(a) Awards granted to Participants prior to April 13, 2011, shall be treated in accordance
with the terms of the Plan as in effect prior to such date; and

(b) Awards granted to Participants on or after April 13, 2011, shall not vest upon a Change
in Control and upon the Change in Control a Participant’s Awards shall be treated in accordance
with one of the following methods as determined by the Committee in its sole discretion:

(i) Awards, whether or not then vested, shall be continued, assumed, have new rights
substituted therefor or be treated in accordance with Section 4.2(d) hereof, as determined by
the Committee in its sole discretion, and restrictions to which any shares of Restricted
Stock or any other Award granted prior to the Change in Control are subject shall not lapse
upon a Change in Control and the Restricted Stock or other Award shall, where appropriate in
the sole discretion of the Committee, receive the same distribution as other Common Stock on
such terms as determined by the Committee; provided that, the Committee may, in its sole
discretion, decide to award additional Restricted Stock or other Award in lieu of any cash
distribution. Notwithstanding anything to the contrary herein, for purposes of Incentive
Stock Options, any assumed or substituted Stock Option shall comply with the requirements of
Treasury Regulation § 1.424-1 (and any amendments thereto).

(ii) The Committee, in its sole discretion, may provide for the purchase of any Awards
by the Company or an Affiliate for an amount of cash equal to the excess of the Change in
Control Price (as defined below) of the shares of Common Stock covered by such Awards, over
the aggregate exercise price of such Awards. For purposes of this Section 13.1(b)(ii),
“Change in Control Price” shall mean the highest price per share of Common Stock paid
in any transaction related to a Change in Control of the Company; provided, however, that
such price shall not exceed the fair market value of the Common Stock at the time of purchase
as determined in accordance Section 409A of the Code.

(iii) The Committee may, in its sole discretion, provide for the cancellation of any
Appreciation Awards (as defined below) without payment, if the Change in Control Price is
less than the exercise price of such Appreciation Award. “Appreciation Award” shall
mean any Award under this Plan of any Stock Option, Stock Appreciation Right or Other
Stock-Based Award, provided that such Other Stock-Based Award is based on the appreciation in
value of a share of Common Stock in excess of an amount equal to at least the Fair Market
Value of the Common Stock on the date such Other Stock-Based Award is granted.

(iv) Notwithstanding anything else herein, the Committee may, in its sole discretion,
provide for accelerated vesting or lapse of restrictions, of an Award at any time.

 

 

 

(c) Notwithstanding anything herein to the contrary, if a Participant has an involuntary
Termination without Cause at any time during the two (2) year period commencing on a Change in
Control, then all outstanding Awards of such Participant that were granted to the Participant on
or after April 13, 2011 and prior to the Change in Control (including any Award granted to the
Participant in substitution of any such Award pursuant to Section 13.1(b)(i) above) shall be
fully vested on the date of such Termination and any such Awards that provide for Participant
elected exercise (i.e. Stock Options) shall be immediately exercisable in their entirety on the
date of such Termination.

7. Subject to stockholder approval, Article 18 of the Plan is amended in its entirety to
read as follows:

“Article 18.

TERM OF PLAN

No Award shall be granted pursuant to the Plan on or after April 13, 2021, but Awards granted
prior to such date may, and the Committee’s authority to administer the terms of such Awards,
extend beyond that date; provided, however, that no Award (other than a Stock Option or Stock
Appreciation Right) that is intended to be “performance-based” under Section 162(m) of the Code
shall be granted on or after the first meeting of the stockholders in the fifth year following the
year in which the stockholders approve the Performance Goals set forth on Exhibit A unless the
Performance Goals set forth on Exhibit A are reapproved (or other designated performance goals are
approved) by the stockholders no later than the first stockholder meeting that occurs in the fifth
year following the year in which stockholders approve the Performance Goals set forth on Exhibit A.
Without limiting the foregoing, effective upon, and subject to, the approval of the Company’s
stockholders at the Company’s 2011 Annual Stockholders’ Meeting, no Award shall be granted to an
Eligible Employee or Non-Employee Director who is a resident of France or subject to the social
security scheme in France (a “French Participant”) on or after the fifth anniversary of the
Company’s 2011 Annual Stockholders’ Meeting, unless: (i) the stockholders approve a new term for
Awards to French Participants after such five year term; or (ii) this limitation is not required
under applicable French law, regulation or other authority.”

II. Except as specifically amended hereby, the Plan is hereby ratified and confirmed in all
respects and remains in full force and effect.exv10w8

Exhibit
10.8

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

     This Second Amendment to Employment Agreement (the “Amendment”) is made and entered
into as of May 1, 2011, by and between Atlantic Diving Supply, Inc., a Virginia corporation
(the “Company”), and Bruce Dressel (the “Executive”) for the purpose of amending
the Employment Agreement dated as of August 1, 2008, and amended as of March 1, 2011, by and
between the Company and the Executive (as amended, the “Employment Agreement”).

     WHEREAS, prior to the date hereof, the Company has begun a process which, upon its
consummation, would result in the initial public offering of the Company’s common stock (the
“IPO”);

     WHEREAS, in connection with the IPO, the Company intends to adopt a new incentive award plan
and, subject to the Executive’s continued employment with the Company through the consummation of
the IPO, the Company intends to grant certain equity awards to the senior executives of the
Company, including the Executive, effective upon the consummation of the IPO (the “Equity
Awards”);

     WHEREAS, pursuant to the terms and conditions of the Employment Agreement, the Executive is
entitled to receive a Sale Bonus (as defined in the Employment Agreement) upon a Sale of the
Company (as defined in the Employment Agreement);

     WHEREAS, the parties acknowledge and agree that the IPO will not constitute a Sale of the
Company under the terms of the Employment Agreement and no Sale Bonus will be payable in connection
with the IPO;

     WHEREAS, in consideration for the grant of the Equity Awards, and as a condition precedent to
the effectiveness of any Equity Awards granted to the Executive, the parties have agreed that the
Sale Bonus provisions in the Employment Agreement will cease to apply upon and following the
consummation of the IPO;

     WHEREAS, the parties hereto desire to modify certain terms of the Employment Agreement as
hereinafter provided; and

     WHEREAS, pursuant to Section 17 of the Employment Agreement, the Employment Agreement may be
amended in whole or in part in writing in a form substantially similar to the form thereof.

     NOW, THEREFORE, in consideration of the foregoing recitals, and in consideration of the mutual
promises and covenants set forth below, the Company and the Executive hereby agree as follows:

     1. Defined Terms. Capitalized terms used but not otherwise defined herein shall have
the meanings assigned to such terms in the Employment Agreement.

 

 

     2. Amendment to Section 5. Section 5 of the Employment Agreement is hereby amended
and restated in its entirety as follows:

	 	“5.	 	Sale of the Company. If during the Term and prior to the first
date upon which the Company’s common stock is listed (or approved for listing)
on any securities exchange or designated (or approved for designation) upon
notice of issuance as a national market security on an interdealer quotation
system (i) any person or persons or entity or entities (other than family
members or family trusts) who do not presently own stock in the Company acquire
ownership of fifty one percent (51%) or more of the Company’s stock or (ii)
such persons or entities acquire fifty one percent (51%) or more of the total
gross fair market value of the Company’s assets (collectively, the “Sale of
the Company”) for a purchase price not less than one hundred million
dollars ($100,000,000.00) net cash or property actually received by the stock
owners in the case of a stock sale or by the Company the case of an asset sale,
then the Company shall pay the Executive a bonus (a “Sale Bonus”) in an
amount equal to the excess of (x) one half of one percent (0.5%) of the
purchase price over (y) any amounts paid or payable to the Executive pursuant
to the terms of the Transaction Bonus Agreement. Subject to Section 14, the
Sale Bonus shall be paid within thirty (30) days of the closing of the sale of
the stock or assets and the disbursement of the purchase price in full. Upon
the Sale of the Company, the Term shall be extended for a period of two years
from the date of sale and the Executive shall be entitled to receive no less
than the same benefits, salary and bonus opportunity he received immediately
prior to the sale for the remainder of the Term. For purposes of this Section
5, “Company” shall mean ADS Tactical, Inc. and/or Atlantic Diving
Supply, Inc.”

     3. Section References. Unless otherwise indicated, all references in this Amendment
to designated “Sections” are references to designated Sections of the Employment Agreement.

     4. Continuing Effectiveness of Employment Agreement. Except as modified by the
foregoing, the terms and conditions of the Employment Agreement (including any previous amendments
thereto), shall remain unaffected and shall continue in full force and effect after the date
hereof.

     5. Form of Amendment. The Company and the Executive acknowledge and agree that this
Amendment is made pursuant to, and in accordance with the terms of, Section 17 of the Employment
Agreement.

     6. Counterparts. This Amendment may be executed in one or more counterparts and all
counterparts taken together shall be deemed to constitute one and the same instrument.

[signature page follows]

2

 

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date and year
first above written.

	 	 	 	 	 
	 	ATLANTIC DIVING SUPPLY, INC.

 	 
	 	/s/
Luke M. Hillier	 
	 	By:  	Luke M. Hillier	 
	 	Its: 	CEO	 
	 
	 
	 	EXECUTIVE

 	 
	 	/s/
James B. Dressel	 
	 	Bruce Dressel

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}]]