Document:

EMPLOYMENT LETTER BETWEEN ON TECH. CORP. AND ROBERT P. NAULT DATED 1/31/2003

 
Exhibit 10.1

 
January 31, 2003 
 
Mr. Robert P. Nault 
20 Pleasant Street 
Sharon, MA 02067 
 
Dear Bob: 
 
I am
pleased to confirm our offer of employment for the position of Vice President, General Counsel and Secretary. In this position, you will report directly to me. Your start date will be February 3, 2003. It has been agreed that you will work 32 hours
per week with the option of working from home one day a week. 
 
The starting base salary for the position is $160,000 annually, earned and payable at the semi-monthly rate of $6,666.67. You will be eligible to earn a management bonus equal to 25% of your base salary. Your bonus potential for 2003
will be prorated based on your date of hire. 
 
You will be
eligible to participate in ON Technology’s benefit programs, as outlined in the enclosed summary. In addition, you will be added to ON Technology’s Directors and Officers liability insurance policy. Finally, ON Technology will reimburse
you for all customary and reasonable professional affiliation fees, including but not limited to, bar association fees. 
 
At the next Board of Directors meeting, we will recommend that the Board of Directors approve a grant to you of an option to purchase 40,000 shares of ON
Technology Corporation common stock. The exercise price of the options will be the closing price of ON Technology common stock on February 5, 2003, the day before the Board of Directors meeting. The options will be subject to the terms and
conditions of ON Technology’s 2002 Employee and Consultant Stock Option Plan. The options will vest in accordance with the standard four-year vesting schedule, and will be exercisable for ten years from the date of grant. 
 
Your current stock option agreement dated January 26, 2001 will be amended to
provide that your right to exercise said options will expire one year from the termination of your employment. 
 
If ON Technology or its successor terminates your employment for any reason other than for cause (as defined below), you will be entitled to a cash payment equal to any accrued or earned salary and
benefits as of the date of termination, plus six months salary of your then current annual base salary and 50% of your total annual bonus potential. If ON Technology at any time determines in good faith that the General Counsel position requires 40
hours of work each week and you are not willing to commit to 40 hours, then you will receive severance according to ON Technology’s standard severance pay policy. 
 
For purposes of this agreement, “cause” shall mean any of the following as determined by us in good faith, which
determination shall be conclusive: (i) failure or habitual neglect by you in the performance of your duties; (ii) willful refusal or failure by you to comply with explicit, lawful directives of your supervisor, the Company or its officers and Board
of Directors given in good faith; (iii) your conviction of a criminal felony; (iv) fraud or embezzlement by you involving the assets of the Company or other material misappropriation of the Company’s assets or funds; or (v) willful misconduct,
illegal conduct or acts of bad faith by you with respect to the Company. 
 

1 

 
Robert P. Nault 
January 31, 2003 
Page 2 of 2 
 
You represent that
you are not bound by any employment contracts, non-competition agreements, restrictive covenants or other restrictions preventing you from entering into this agreement or carrying out your responsibilities for the Company. 
 
Enclosed is an Employment Eligibility Verification (Form I-9), which must be
completed in order to comply with federal immigration law. 
 
Bob,
I am looking forward to your officially joining ON Technology. I believe you will strengthen our team substantially as well as play a key role in the continuation of our success. To indicate your acceptance of our offer, please return a signed copy
of this letter along with the above referenced documents. In the meantime, if you have any questions, please do not hesitate to call me at (781) 487-3387. 
 
Very truly yours, 
 
Robert Doretti 
Chairman, President & CEO 
ON Technology Corporation

 
Agreed and Accepted this
                     day of
                            , 2003. 
 
 

	
	

	 Robert P. Nault

 

2Amend. #6 to Amended and Restated 1996 Directors Stock Option Plan

 
EXHIBIT 10(t)

 
AMENDMENT NO. 6 
TO 
AMERICAN DENTAL PARTNERS, INC. 
AMENDED AND RESTATED 1996 DIRECTORS STOCK OPTION PLAN

 
The American Dental Partners, Inc. Amended
and Restated 1996 Directors Stock Option Plan, as previously amended (the “Plan”), is hereby amended pursuant to the following provisions: 
 
1.    Definitions 
 
All capitalized terms used in this amendment which are not otherwise defined herein shall have the respective meanings given such terms in
the Plan. 
 
2.    Shares
Subject To Plan 
 
The total number of Shares
for which Options may be granted under the Plan, as provided under §4 of the Plan, as previously adjusted and increased, is increased by 75,000 Shares to a total of 260,000 Shares. 
 
3.    Effective Date; Construction 
 
The effective date of this amendment is May 2, 2003, and this
amendment shall be deemed to be a part of the Plan as of such date. In the event of any inconsistencies between the provisions of the Plan and this amendment, the provisions of this amendment shall control. Except as modified by this amendment, the
Plan shall continue in full force and effect without change.Amend. #4 to Amended and Restated 1996 Affiliate Stock Option Plan

 
EXHIBIT 10(u)

 
AMENDMENT NO. 4 
TO 
AMERICAN DENTAL PARTNERS, INC. 
AMENDED AND RESTATED 1996 AFFILIATE STOCK OPTION PLAN

 
The American Dental Partners, Inc. Amended
and Restated 1996 Affiliate Stock Option Plan, as previously amended (the “Plan”), is hereby amended pursuant to the following provisions: 
 
1.    Definitions 
 
All capitalized terms used in this amendment which are not otherwise defined herein shall have the respective meanings given such terms in
the Plan. 
 
2.    Shares
Subject To Plan 
 
No additional Options shall
be granted under the Plan. Except for Shares subject to unexercised Options granted prior to the date of this amendment that have not expired or otherwise terminated, all Shares reserved for issuance under the Plan are hereby released from such
reserve. Without limiting and in furtherance of the preceding provisions, if any Shares currently subject to an Option cease to be subject to that Option other than by reason of exercise, or if any Shares previously issued pursuant to the Plan are
returned to the Company in connection with the exercise of an Option, such Shares shall not be used for any future Option grant and shall not be reserved for subsequent issuance under to the Plan. 
 
3.    Effective Date; Construction

 
The effective date of this amendment is February
25, 2003, and this amendment shall be deemed to be a part of the Plan as of such date. In the event of any inconsistencies between the provisions of the Plan and this amendment, the provisions of this amendment shall control. Except as modified by
this amendment, the Plan shall continue in full force and effect without change.Amend. #2 to 1996 Time Accelerated Stock Option Plan

 
EXHIBIT 10(v)

 
AMENDMENT NO. 2 
TO 
AMERICAN DENTAL PARTNERS, INC. 
1996 TIME ACCELERATED RESTRICTED STOCK OPTION PLAN 
 
The American Dental Partners, Inc. 1996 Time Accelerated
Restricted Stock Option Plan, as previously amended (the “Plan”), is hereby amended pursuant to the following provisions: 
 
1.    Definitions 
 
All capitalized terms used in this amendment which are not otherwise defined herein shall have the respective meanings given such terms in
the Plan. 
 
2.    Shares
Subject To Plan 
 
Except for one or more
options to purchase an aggregate of not more than 9,369 shares of common stock (the “Remaining Options Shares”), no additional options shall be granted under the Plan. Except for the Remaining Option Shares and Shares subject to
unexercised options granted prior to the date of this amendment that have not expired or otherwise terminated, all shares of Common Stock (“Shares”) reserved for issuance under the Plan are hereby released from such reserve. Without
limiting and in furtherance of the preceding provisions, if any Shares currently subject to an option cease to be subject to that option other than by reason of exercise, or if any Shares previously issued pursuant to the Plan are returned to the
Company in connection with the exercise of an option, such Shares shall not be used for any future option grant and shall not be reserved for subsequent issuance under to the Plan. 
 
3.    Fair Market Value of Common Stock 
 
For purposes of the Plan, the fair market value of the Common
Stock shall hereafter mean, as of any given date, whichever of the following is applicable: (i) the last reported sale price on the New York Stock Exchange (“NYSE”) on that date, or, if none, the last reported sale price on the NYSE on the
most recent previous trading day; (ii) the last reported sale price on the NASDAQ Stock Market National Market System (“NASDAQ”) on that date, or, if none, the last reported sale price on the NASDAQ on the most recent previous trading day;
(iii) the mean between the high and low bid and ask prices, as reported by the National Association of Securities Dealers, Inc. (“NASD”) on that date, or, if none, the mean between the high and low bid and ask prices, as reported by the
NASD on the most recent previous trading day; or (iv) the last reported sale price on any other stock exchange on which the Common Stock is listed on that date, or, if none, the last reported sale price on any other stock exchange on which the
Common Stock is listed on the most recent previous trading day, whichever is applicable; provided that if none of the foregoing is applicable, then the fair market value of the Common Stock shall be the value determined by the Board of Directors, in
its sole discretion. 
 
4.    Exercise of Options 
 
Subject to Section 10 of the Plan, any option hereafter granted under the Plan shall be exercisable at such time or times and during such period as may be determined by the Board of Directors or the Committee. 
 
5.    Effective Date; Construction

 
The effective date of this amendment is February
25, 2003, and this amendment shall be deemed to be a part of the Plan as of such date. In the event of any inconsistencies between the provisions of the Plan and this amendment, the provisions of this amendment shall control. Except as modified by
this amendment, the Plan shall continue in full force and effect without change.

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