Document:

exv10w41

 

EXHIBIT 10.41

FORM OF AMENDMENT TO

EMPLOYMENT AGREEMENT

[EXECUTIVE]

FEBRUARY [•], 2008

          This Amendment to the Agreement (defined below) is entered into as of February [•],
2008, by and among Pharmion Corporation (the “Company”) and [Executive]
(“Executive”). All terms not defined herein shall have the meaning ascribed to them in the
Agreement.

          WHEREAS, the Company and Executive are parties to that certain employment agreement dated as
of [Date], which governs Executive’s employment with the Company (the “Agreement”);

          WHEREAS, the Agreement has been continually operated in compliance with the requirements of
Section 409A of the Internal Revenue Code of 1986, as amended, and the rules, regulations, and
transitional guidance promulgated thereunder and with respect thereto (collectively, “Section
409A”);

          WHEREAS, the “Severance Pay” provided by Section 9(c) hereof is subject, as of the date
hereof, to a “substantial risk of forfeiture” within the meaning of Section 409A; and

          WHEREAS, the Company and Executive now desire to amend the Agreement pursuant to the
transition relief provided by Section IV.A of Notice 2007-78 (as extended by Section 4 of Notice
2007-86), effective immediately, to conform the existing definition of “Good Reason” hereunder to
the conditions set forth in Treasury Regulation § 1.409A-1(n)(2) and to ensure that the “Severance
Pay” provided by Section 9(c) hereof is either (i) exempt from Section 409A under the “short-term
deferral rule” set forth in Treasury Regulation § 1.409A-1(b)(4), (ii) exempt from Section 409A
under the “two-year, two-time rule” set forth in Treasury Regulation § 1.409A-1(b)(9), or (iii) to
the extent not exempt under the short-term deferral rule or the two-year, two-time rule, paid out
in compliance with Section 409A.

          NOW, THEREFORE, in consideration of the mutual promises and considerations contained in this
Amendment and for other good and valuable consideration, the receipt and sufficiency of which are
mutually acknowledged, the parties agree as follows:

	A.	 	Section 8(e)(i) hereof shall be deleted in its entirety, and Sections 8(e)(ii), (iii), and
(iv) hereof shall be renumbered as Sections 8(e)(i), (ii), and (iii), respectively.
	 
	B.	 	The last sentence of Section 8(e) shall be replaced in its entirety with the following:

Executive may terminate his employment for Good Reason pursuant to
this Section 8(e) by providing the Company with thirty (30) days’
written notice setting forth in reasonable specificity the event
that constitutes Good Reason, which written notice, to be effective,
must be provided to the Company within ninety (90) days of the
occurrence of such event. During such thirty (30) day notice
period, the Company shall have a cure right, and if not cured

 

 

within
such period, Executive’s Termination will be effective upon
the date immediately following the expiration of the thirty (30) day
notice period.

     The second sentence of Section 9(c) of the Agreement shall be replaced in its entirety with
the following:

In addition, Executive shall be entitled to receive severance pay
(“SEVERANCE PAY”) consisting of a lump sum amount (payable within
five (5) business days following Executive’s execution of a release,
as described below) equal to one year of Executive’s Base Salary;
provided, however, that if Executive’s Termination
occurs prior to January 1, 2009, the payment of any portion of such
amount in excess of the sum of $460,000 and two and one half (21/2)
months of Executive’s Base Salary shall be delayed until the later
to occur of January 1, 2009, and the six (6) month anniversary of
the date of Executive’s Termination. For purposes of determining
the Severance Pay, (i) “Base Salary” shall be deemed the same rate
of Base Salary most recently applicable to Executive immediately
prior to the date of such Termination, and (ii) the portion of the
Severance Pay representing the first two and one half (21/2) months of
Executive’s Base Salary in a calendar year shall be deemed a
separate payment (from the remaining portion of the Severance Pay)
for purposes of Section 409A of the Code (as defined below).
Executive shall also be entitled to twelve (12) months of COBRA
benefit coverage for health, dental, and vision insurance (at a
coverage level equal to or below elected coverage on the date before
the termination date). Notwithstanding anything contained in this
Section 9(c) to the contrary, prior to the payment of any portion of
the Severance Pay or provision of the COBRA benefit, Executive shall
have executed, on or prior to the Release Expiration Date, a general
release of all claims that Executive may have against the Company or
its officers, directors, employees and shareholders (and any
applicable waiting periods contained in such release shall have
expired), in a form acceptable to the Company and delivered to
Executive within ten (10) business days following Executive’s
Termination hereunder; provided, however, that if
the Company does not deliver to Executive such a release within such
ten (10) business day period, Executive shall not be required to
execute such a release in order to receive the Severance Pay or the
COBRA benefit. In the event that Executive fails to execute such
release on or prior to the Release Expiration Date (unless the
Company has not provided Executive with such release in a timely
manner, as contemplated by the immediately preceding sentence),
Executive shall not be entitled to any portion of the Severance Pay
or provision of the COBRA benefit. For purposes of this Section
9(c), the term “Release Expiration Date” shall mean the date that is
twenty-one (21) days following Executive’s Termination, or in the
event that such Termination is “in connection with an exit incentive
or other employment termination

-2-

 

program” (as such phrase is defined
in the Age Discrimination in Employment Act of
1967), the date that is forty-five (45) days following Executive’s
Termination. Notwithstanding anything herein to the contrary, the
payment (or commencement of a series of payments) hereunder of any
nonqualified deferred compensation (within the meaning of Section
409A of the Code) upon a Termination shall be delayed until such
time as Executive has also undergone a “separation from service” as
defined in Treas. Reg. 1.409A-1(h), at which time such nonqualified
deferred compensation (calculated as of the date of Executive’s
Termination) shall be paid (or commence to be paid) to Executive on
the schedule set forth in this Section as if Executive had undergone
such Termination (under the same circumstances) on the date of his
ultimate “separation from service.”

* * *

          Except as otherwise specifically set forth herein, all terms and provisions of the Agreement
shall continue in full force and effect.

* * *

          IN WITNESS WHEREOF, the parties have executed this Amendment to the Agreement as of the date
first set forth above.

	 	 	 	 	 
	 
	 

	 	 

[Executive]
	 	 
	 
	 	 	 	 
	 
	 

	 	 

Pharmion Corporation

By:
	 	 

-3-ex10-21todec312007form10k.htm

    
      Exhibit
        10.21

      

      Seventh
        Amendment to Amended and Restated Credit Agreement

       

      This
        Seventh Amendment to Amended and Restated Credit Agreement (herein, the "Amendment") is entered into
        as of October 22, 2007 by and among Learning Curve Brands, Inc. (formerly
        known
        as RC2 Brands, Inc.) ("LCB"), Learning Curve
        International, Inc. ("LCI"), The First Years
        Inc.
        ("TFY"), Racing
        Champions Worldwide Limited ("RCWL"; LCB, LCI, TFY,
        and
        RCWL being referred to herein collectively as the "Borrowers"), Harris N.A.,
        as
        Administrative Agent, and the Lenders party hereto.

       

      Preliminary
        Statements

       

                    
        A.   The Borrowers, the Lenders and the Administrative Agent entered
        into an Amended and Restated Credit Agreement dated as of September 15,
        2004, as heretofore amended (the "Credit
        Agreement").  All capitalized terms used herein without
        definition shall have the same meanings herein as such terms have in the
        Credit
        Agreement.

       

                    
        B.    The Borrowers have requested that the Required Lenders
        amend the Interest Coverage Ratio definition, and the Lenders are willing
        to do
        so under the terms and conditions set forth herein.

       

      
                       
          Now, Therefore, for good and valuable consideration, the receipt and
          sufficiency of which is hereby acknowledged, the parties hereto agree as
          follows:

      

       

      
        	
                 

              	
                Section 1.   
                  Amendment. 

              

      

       

      Subject
        to the satisfaction of the conditions precedent set forth in Section 2
        below, the Credit Agreement shall be and hereby is amended as
        follows:

       

                     
        1.1.  The definition of "Interest Coverage Ratio"
        appearing in Section 5.1 of the Credit Agreement shall be amended and restated
        in its entirety to read as follows:

       

      "Interest
        Coverage Ratio"
        means, at any time the same is to be determined, the ratio of (a) EBITDA of
        the Company for the four consecutive fiscal quarters of the Company then
        ended
minus Capital
        Expenditures during the same four fiscal quarters then ended to
        (b) Interest Expense of the Company for the same four fiscal quarters then
        ended plus Restricted
        Payments (other than up to $150,000,000 for Restricted Payments permitted
        by
        Section 8.12(iii) hereof) made during the same four fiscal quarters then
        ended.

       

      1.2. 
        Exhibit E to the Credit Agreement shall be amended and restated as set forth
        on
        Exhibit E attached hereto.

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                 

              	
                Section 2.   
                  Conditions Precedent. 

              

      

       

      The
        effectiveness of this Amendment is subject to the satisfaction of all of
        the
        following conditions precedent:

       

      2.1.  The
        Borrowers and the Required Lenders shall have executed and delivered this
        Amendment.

       

      2.2. 
        Legal matters incident to the execution and delivery of this Amendment shall
        be
        satisfactory to the Administrative Agent and its counsel.

       

      
        	
                 

              	
                Section 3.   
                  Representations. 

              

      

       

      In
        order
        to induce the Lenders to execute and deliver this Amendment, the Borrowers
        hereby represent to the Lenders that, as of the date hereof, the representations
        and warranties set forth in Section 6 of the Credit Agreement are and shall
        be and remain true and correct (except that the representations contained
        in
        Section 6.5 shall be deemed to refer to the most recent financial
        statements of the Company delivered to the Lenders) and the Borrowers are
        in
        compliance with the terms and conditions of the Credit Agreement and no Default
        or Event of Default has occurred and is continuing under the Credit Agreement
        or
        shall result after giving effect to this Amendment.

       

      
        	
                 

              	
                Section 4.   
                  Miscellaneous. 

              

      

       

                    
        4.1. Except as specifically amended herein, the Credit Agreement shall continue
        in full force and effect in accordance with its original terms. Reference
        to
        this specific Amendment need not be made in the Credit Agreement, the Notes,
        or
        any other instrument or document executed in connection therewith, or in
        any
        certificate, letter or communication issued or made pursuant to or with respect
        to the Credit Agreement, any reference in any of such items to the Credit
        Agreement being sufficient to refer to the Credit Agreement as amended
        hereby.

       

                    
        4.2.  This Amendment may be executed in any number of counterparts, and by
        the different parties on different counterpart signature pages, all of which
        taken together shall constitute one and the same agreement. Any of the parties
        hereto may execute this Amendment by signing any such counterpart and each
        of
        such counterparts shall for all purposes be deemed to be an original. This
        Amendment shall be governed by the internal laws of the State of
        Illinois.

       

      [Signature
        Pages Follow.]

       

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      This
        Seventh Amendment to Amended and Restated Credit Agreement is entered into
        as of
        the date and year first above written.

    

    
       

      
        
          

          LEARNING
            CURVE BRANDS, INC. (f/k/a RC2 

               
            Brands, Inc.) 

          LEARNING
            CURVE INTERNATIONAL, INC. 

          THE
            FIRST
            YEARS INC., a Massachusetts 

               
            corporation

          RACING
            CHAMPIONS WORLDWIDE LIMITED

           

          By
/s/  Curtis
            W.
            Stoelting                                              

               
            Name:  Curtis W. Stoelting

               
            Title:    Chief Executive Officer of LCB 

                            
            and LCI, President of TFY and Director

                           
             of RCWL

          

           

          
            
              
              

            

            
              3

              
                

              

            

            
              
              

            

          

          

                         
            Accepted and agreed to as of the date and year first above written.

          

          HARRIS
            N.A., in its individual capacity and as 

               
            Administrative Agent

           

          By /s/  Karen
            L.
            Knudsen                                       
        

               
            Name  Karen L.
            Knudsen                                  
         

               
            Title  Managing
            Director                                 

           

          NATIONAL
            CITY BANK

           

          By /s/
            Todd
            Kostelnik           
                                          

               
            Its Vice
            President                                                        

           

          U.S.
            BANK
            NATIONAL ASSOCIATION

           

          By                                                                                        
            

               
            Its                                                                                  

           

          LASALLE
            BANK NATIONAL ASSOCIATION

           

          By /s/
            Michael F.
            Perry                                                    

               
            Its First Vice
            President                                               

           

          FIFTH
            THIRD BANK (CHICAGO), a Michigan 

               
            Banking Corporation

           

          By /s/
            Kim
            Puszczwicz                                                      

               
            Its Vice
            President                                                        

           

          THE
            NORTHERN TRUST COMPANY

           

          By /s/
            Kanika
            Agarwal                                                     

               
            Its Commercial Banking
            Officer                        

          

           

          
            
              
              

            

            
              4

              
                

              

            

            
              
              

            

          

          ASSOCIATED
            BANK, N.A.

           

          By /s/
            Brett T. Rausch                                                     
            

               
            Its Vice President                                                       
            

           

          RBS
            CITIZENS, N.A.

           

          By                                        
                                                           

               
            Its                          
                                                       

           

           

           

          5

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