Document:

EX-10.1

 Exhibit 10.1 

Moishe Gubin 
 2477 E. Commercial
Boulevard 
 Fort Lauderdale, Florida 33308 

September 13, 2013 
  

			
	 OptimumBank Holdings, Inc.
 2477 E. Commercial
Boulevard
 Fort Lauderdale, Florida 33308
	 	 Mr. Joel Klein
 2477 E. Commercial Boulevard

Fort Lauderdale, Florida 33308

  

	Re:	Amended and Restated Stock Purchase Agreement dated as of March 22, 2013 between OptimumBank Holdings, Inc. and Moishe Gubin (the “Purchase Agreement”) 

Gentlemen: 
 The purpose of this letter is to
set forth the agreement between OptimumBank Holdings, Inc. (the “Company”), Moishe Gubin (“Mr. Gubin”) and Joel Klein (“Mr. Klein”) with respect to: (i) the amendment of the Purchase Agreement
to reflect the assignment of the right to purchase 83,333 shares of the Company’s common stock under the Purchase Agreement from Mr. Gubin to Mr. Klein; and (ii) the agreement of Mr. Klein to purchase the 83,333 shares
promptly after the execution of this letter agreement. In particular, we have agreed as follows: 
 1. Definitions. Capitalized terms
used in this letter agreement have the meanings assigned to them in the Purchase Agreement, unless otherwise defined in this letter. 
 2.
Certain Acknowledgments. The parties hereby acknowledge the following: 
 (a) The Company and Mr. Gubin have entered into
Purchase Agreement pursuant to which Mr. Gubin agreed to purchase 1,833,333 shares of Common Stock for the price of $1.20 per share. 

(b) The purchase of Shares by Mr. Gubin pursuant to the terms of the Purchase Agreement has been delayed by the continuing processing the
regulatory applications filed by Mr. Gubin with the applicable federal and state banking regulators with respect to the purchase. 

(c) Mr. Klein, who serves as a director of the Company, has agreed to purchase a portion of the shares under the Purchase Agreement in
order to provide the Company with additional working capital. 

 OptimumBank Holdings, Inc., and 

Mr. Joel Klein 
 September 13, 2013 

Page 2 
 3. Assignment of Purchase Rights.

 (a) Mr. Gubin hereby assigns to Mr. Klein the right to purchase 83,333 Shares under the terms of the Purchase Agreement.
Mr. Klein hereby assumes the obligation to purchase such Shares, and agrees to complete the purchase promptly after the date of this letter agreement. Additionally, Mr. Klein hereby confirms that all of the representations and warranties
specified in Section 6 of the Agreement, to the extent that such representations and warranties relate to Mr. Klein’s purchase of the shares, are deemed to be made by Mr. Klein to the Company. The Company hereby consents to the
assignment. 
 (b) Mr. Klein specifically acknowledges and agrees that: 

(i) The Shares have not been registered under the Securities Act or any state securities laws and are being offered and sold in reliance upon
exemptions provided in the Securities Act and state securities laws for transactions not involving any public offering and, therefore, cannot be resold or transferred unless they are subsequently registered under the Securities Act and such
applicable state securities laws or unless an exemption from such registration is available. 
 (ii) He has no contract, understanding,
agreement or arrangement with any person to sell or transfer or pledge to such person or anyone else any of the Shares for which he hereby subscribes (in whole or in part); and he has no present plans to enter into any such contract, undertaking,
agreement or arrangement. 
 4. Ratification of Agreement. Except as amended by the terms of this letter, all of the terms and
conditions of the Purchase Agreement are hereby ratified, confirmed and approved. 
 [Signature Page Follows] 

 OptimumBank Holdings, Inc., and 

Mr. Joel Klein 
 September 13, 2013 

Page 3 
 If this letter accurately sets forth our
agreement, please execute this letter in the space provided below and return a copy to the undersigned. 
  

	
	Sincerely yours,
	
	/s/ Moishe Gubin
	

 Agreed and Accepted: 

OptimumBank Holdings, Inc. 
 By: /s/ Thomas Procelli 

Thomas Procelli, Chief Operating Officer 
 /s/ Joel Klein

 Joel KleinEX-10.1

 Exhibit 10.1 

Elliott Associates, L.P. 

Elliott International, L.P. 

Elliott International Capital Advisors Inc. 

40 West 57th Street 

New York, NY 10019 

September 19, 2013 
 Emulex Corporation 

3333 Susan Street 
 Costa Mesa, California 92626 

Ladies and Gentlemen: 
 Reference is made to the
letter agreement dated March 27, 2013 (as amended on August 9, 2013, the “Letter Agreement”), among Emulex Corporation (the “Company”) and each of Elliott Associates, L.P. (“Elliott”),
Elliott International, L.P. (“Elliott International”) and Elliott International Capital Advisors Inc. (“EICA”) (Elliott, Elliott International and EICA, collectively, the “Elliott Group” and,
together with the Company, the “Parties”). Capitalized terms used but not defined herein have the meaning assigned to them in the Letter Agreement. 

The Parties hereby agree that (1) Paragraph 2(a)(x)(1) of the Letter Agreement is hereby amended to replace “September 20,
2013” with “October 20, 2013” and (2) the 2013 annual meeting of stockholders of the Company (and any special meeting of stockholders at which directors are to be elected pursuant to the Company’s notice of meeting) will be
no earlier than December 17, 2013 and no later than February 14, 2014; provided that, unless ordered by a court, it will also not be held on or between December 19, 2013 and January 19, 2014; provided, further, that the Company
shall use commercially reasonable efforts to avoid the entry of such an order prior to January 20, 2014. 
 The Company represents and
warrants that the Company’s Amended and Restated Bylaws have been amended, effective as of the date hereof and subject to the execution and delivery of this letter agreement by the Elliott Group, as follows: 

a) the last sentence of Section 3.18(a) of such Bylaws is replaced in its entirety with the following: 

Notwithstanding anything to the contrary in these Bylaws, in order for a nomination to be timely for election of directors at the 2013 annual
meeting of stockholders of the corporation (or any special meeting of stockholders held after September 19, 2013 and before February 14, 2014, at which directors are to be elected (a “special director election”)), a
stockholder’s notice shall be delivered to or mailed and received at the principal executive office of the corporation not later than the close of 

 
business on October 30, 2013, and no earlier than the close of business on September 30, 2013. 

b) the last sentence of Section 2.14(a) of such Bylaws is replaced in its entirety with the following: 

Notwithstanding anything to the contrary in these Bylaws, in order for a stockholder notice of business to be brought before the 2013 annual
meeting of stockholders (or any special director election (as defined in Section 3.18(a) of these Bylaws)) to be timely, a stockholder’s notice shall be delivered to or mailed and received at the principal executive office of the
corporation not later than the close of business on October 30, 2013 and no earlier than the close of business on September 30, 2013. 
 The
Company and the Elliott Group each agree not to distribute to stockholders or file with the United States Securities and Exchange Commission any proxy statement related to the 2013 annual meeting of stockholders of the Company or any special
director election (as defined above), whether definitive or preliminary, on or before November 10, 2013. 
 As amended hereby, the
Letter Agreement remains in full force and effect. 
 [Remainder of page intentionally blank] 

 If you are in agreement with the foregoing, please sign and return one copy of this agreement,
which thereupon will constitute our binding agreement with respect to the subject matter hereof. 
  

			
	Sincerely,
	
	 ELLIOTT ASSOCIATES, L.P.
 By:
Elliott Capital Advisors, L.P., its General Partner
 By: Braxton Associates, Inc., its General Partner

		
	By:	 	  /s/ Elliot Greenberg

	Name:  Elliot Greenberg
	Title:    Vice President

 
			
	
	 ELLIOTT INTERNATIONAL, L.P.
 By:
Elliott International Capital Advisors Inc., as Attorney-in-Fact

		
	By:	 	  /s/ Elliot Greenberg

	Name:  Elliot Greenberg
	Title:    Vice President

 
			
	
	ELLIOTT INTERNATIONAL CAPITAL ADVISORS INC.
		
	By:	 	  /s/ Elliot Greenberg

	Name:  Elliot Greenberg
	Title:    Vice President

			
	ACCEPTED AND AGREED:
	
	EMULEX CORPORATION
		
	By:	 	  /s/ Susan Bowman

	Name:  Susan Bowman
	Title:    SVP Human ResourcesEX-10.1

 Exhibit 10.1 
  

							
	 

	 	 3333 Susan Street
 Costa Mesa, CA
92626
	 	 T (714) 662-5600
 F
(714) 241-0792
	 	emulex.com
		 	 	 

 September 19, 2013 

Michael J. Rockenbach 
 3333 Susan Street 

Costa Mesa, CA 92626 
 Dear Mike: 

This letter agreement (this “Agreement”), effective September 19, 2013 (the “Effective Date”), is
intended to memorialize our understanding regarding the transition of your role with Emulex Corporation (“Emulex”), and your severance benefits in the event of a qualifying termination of your employment with Emulex during or upon
the completion of that period of transition. Accordingly, we agree as follows: 
  

	 	1.	Transition Period. You will remain employed by Emulex on a full-time basis as Executive Vice President, Chief Financial Officer and Secretary of Emulex through December 31, 2013 or such other date as may be
mutually agreed between you and the Company (the “Transition End Date” and the period from the Effective Date through the Transition End Date, the “Transition Period”). Your responsibilities during the Transition
Period will be those specified by the Chief Executive Officer of Emulex (the “CEO”), and will include, but not be limited to, functions and services related to the transition of your current role with Emulex (collectively, the
“Responsibilities”). You agree that, during the Transition Period, you will: (a) devote your full business efforts and time to Emulex; (b) not engage in any other employment, consulting or other business activity or
service without the prior written approval of the CEO; and (c) not engage in any other activities that conflict with your obligations to Emulex. You agree that, at the end of the Transition Period, you will resign from all offices with all
affiliates of Emulex, and sign and execute all documents provided by Emulex to you to effectuate such resignations. 

  

	 	2.	Termination of Employment. Subject to your satisfactory performance of the Responsibilities during the Transition Period, if, on or before the Transition End Date, your employment with Emulex is terminated by
Emulex without Cause (as defined in that certain Key Employee Retention Agreement between you and Emulex, effective as of January 1, 2013 (the “KERA”)) during a Change in Control Period (as defined in the KERA), then you will
be eligible to receive the same severance payments and benefits (including, without limitation, equity award vesting acceleration) that you would otherwise have been eligible to receive pursuant to the KERA, subject to all of the same terms and
conditions of the KERA that would otherwise have been applicable to your receipt of payments or benefits under the KERA in the event of a Termination Event (as defined in the KERA) during the Change in Control Period (as defined in the KERA);
provided, however, that the equity acceleration contemplated by Section 5 of the KERA will be subject to the same treatment as provided under the relevant agreement entered into by Emulex that results in the occurrence of the Change in Control
Period. 

 Michael J. Rockenbach 

September 19, 2013 
 Page 2 

 

	 	3.	KERA. Except as set forth in Section 2 of this Agreement, the KERA will be deemed to be terminated as of the Effective Date and no payments or benefits will be payable pursuant to the KERA on or after the
Effective Date. 

  

	 	4.	Entire Agreement. This Agreement constitutes the entire agreement between you and Emulex with respect to the subject matter hereof, and (except for the KERA, to the extent contemplated by Section 3 of this
Agreement) supersedes all prior agreements and understandings relating to the subject matter hereof. 

  

	 	5.	General Provisions. 

 Governing Law. This Agreement will be governed by and
construed and enforced according to the laws of the State of California, without regard to conflicts of laws principles thereof. 

Amendment. This Agreement may not be amended or modified except by an instrument in writing signed by both parties to this Agreement.

 Assignment. Except as otherwise provided herein or by applicable law: (a) none of your rights or interests under this
Agreement will be assignable or transferable, in whole or in part, either directly or by operation of law or otherwise, including, without limitation, by execution, levy, garnishment, attachment, pledge or in any other manner; (b) no attempted
assignment or transfer thereof will be effective; and (c) none of your rights or interests under this Agreement will be liable for, or subject to, any of your obligations or liabilities. 

Headings & Counterparts. This Agreement’s headings and captions are provided for reference and convenience only, will not
be considered part of this Agreement, and will not be employed in the construction of this Agreement. This Agreement may be executed in one or more identical counterparts, each of which shall be deemed an original but all of which together shall
constitute one and the same instrument. 
 Cordially, 
  

	
	 /s/ Jeffrey W. Benck

	Jeffrey W. Benck
	President and Chief Executive Officer

 Michael J. Rockenbach 

September 19, 2013 
 Page 3 

 

			
	 Accepted and Agreed to:

	
	 MICHAEL ROCKENBACH

		
	By:	 	 /s/ Michael Rockenbach

		
	Date:	 	September 19, 2013

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