Document:

exv10w19

 

Exhibit 10.19

HALOZYME THERAPEUTICS, INC.

OUTSIDE DIRECTOR COMPENSATION PLAN

     Commencing upon stockholder approval of the 2008 Outside Directors’ Stock Plan, outside
directors of Halozyme Therapeutics, Inc. (the “Company”), will receive an initial
restricted stock grant of 20,000 shares of common stock upon joining the Board. The initial
restricted stock grant will vest upon the later of: (a) the first day that the outside director may
trade the Company’s stock in compliance with the Company’s Insider Trading Policy that occurs after
the six month anniversary of the date of grant or (b) the first day that the outside director may
trade the Company’s stock in compliance with the Company’s Insider Trading Policy that occurs after
the date of the first annual meeting following the initial restricted stock grant.

     Currently, outside directors also automatically receive annual option grants of 10,000 shares
of common stock and restricted stock grants of 15,000 shares of common stock immediately following
future annual meetings of stockholders. The annual option grant will vest and become exercisable on
the date immediately preceding the date of the annual meeting following the date of grant. The
annual restricted stock grant will vest on the first day that the outside director may trade the
Company’s stock in compliance with the Company’s Insider Trading Policy that occurs after the date
immediately preceding the annual meeting following the date of grant.

     Commencing with the 2009 annual meeting of stockholders, outside directors will automatically
receive annual restricted stock grants of 20,000 shares of common stock immediately following each
annual meeting of stockholders (annual option grants will no longer be issued to outside
directors). The annual restricted stock grant will vest on the first day that the outside director
may trade the Company’s stock in compliance with the Company’s Insider Trading Policy that occurs
after the date immediately preceding the annual meeting following the date of grant.

     Outside directors receive an annual retainer of $30,000 for service on the Board as well as an
annual retainer for service on any committee of the Board. Outside directors serving on the Board’s
Audit Committee will receive an annual retainer of $15,000, provided that the Chair of that
committee will receive an annual retainer of $30,000. Outside directors serving on the Board’s
Compensation Committee will receive an annual retainer of $10,000, provided that the Chair of that
committee will receive an annual retainer of $20,000. Outside directors serving on the Board’s
Nominating and Governance Committee will receive an annual retainer of $5,000, provided that the
Chair of that committee will receive an annual retainer of $10,000. Lastly, an outside director
serving as the Chair of the Board of Directors will receive an annual retainer of $30,000.exv10w20

 

Exhibit 10.20

HALOZYME THERAPEUTICS, INC.

2007 SENIOR EXECUTIVE INCENTIVE PLAN

     The 2007 Senior Executive Incentive Plan of Halozyme Therapeutics, Inc. (the
“Company”) set forth maximum cash and equity bonus awards for the Company’s senior
executive officers (the “2007 Incentive Plan”). Maximum cash and equity bonus amounts were
established for each executive officer (amounts for selected members of senior management are set
forth in the table below) based upon the accomplishment of both individual and Company performance
criteria during 2007. The maximum cash bonus amount for each executive officer represented 30% of
that officer’s annual base salary, with the exception that the maximum cash bonus amount for the
Company’s Chief Executive Officer represented 40% of his base salary. The individual performance
criteria for specific members of senior management varied from position to position, but all
members of senior management had common Company performance goals. The Company performance criteria
were based upon operational, clinical and financial performance objectives established by the
Company in 2007. If all individual and Company performance criteria were not met, members of senior
management were still eligible to receive a portion of their respective maximum bonus amounts;
provided, however, that if a minimum amount of either individual performance criteria or Company
performance criteria were not achieved, then members of senior management would not be entitled to
any cash or equity bonuses. Members of senior management, as a group, were eligible to receive
aggregate cash bonuses of approximately $608,000 and aggregate common stock options to purchase
approximately 390,000 shares of Company common stock. All stock options issued pursuant to the 2007
Incentive Plan were to be issued out of the Company’s 2006 Stock Plan. Finally, despite the
establishment of the 2007 Incentive Plan, final bonus amounts were to be determined at the
discretion of the Board of Directors.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Maximum
	 	 	Maximum	 	Stock Option
	 	 	Cash Bonus	 	Grant
	Jonathan E. Lim (President and Chief Executive Officer)
	 	$	144,000	 	 	 	150,000	 
	David A. Ramsay (Chief Financial Officer)
	 	$	70,500	 	 	 	40,000	 
	Robert Little (Vice President — Chief Commercial Officer)
	 	$	92,220	 	 	 	40,000	 
	Richard Yocum (Vice President — Clinical Development)
	 	$	81,000	 	 	 	40,000	 
	Gregory I. Frost (Chief Scientific Officer)
	 	$	79,500	 	 	 	40,000	 
	William Fallon (Vice President — Manufacturing and Operations)
	 	$	76,500	 	 	 	40,000	 
	Don A. Kennard (Vice President — Regulatory Affairs)
	 	$	64,200	 	 	 	40,000exv10w21

 

Exhibit 10.21

HALOZYME THERAPEUTICS, INC.

SEVERANCE POLICY

     Under the Severance Policy of Halozyme Therapeutics, Inc. (the “Company”), the
particular amount of cash severance for an employee terminated by the Company without cause will
generally be dictated by the employee’s position in the organization as well as the seniority of
that employee. The Severance Policy is applicable to members of senior management in the following
respects: (i) the cash severance for the Chief Executive Officer (the “CEO”) will be equal
to the CEO’s then-current annual base salary; (ii) the cash severance for other Company officers
will be equal to one half of the then-current annual base salary for such officers; and (iii) the
cash severance for non-officer Vice Presidents will initially be equal to ten weeks worth of the
then-current annual base salary for such employee, provided that the employee will get an
additional two weeks of severance pay for each year of employment with the Company (up to a maximum
of 26 weeks). In addition to cash severance payments, which will be made in a lump sum payment, the
Company will also pay certain health coverage costs during the term of the applicable severance
period. Despite the establishment of the Severance Policy, however, the Board of Directors retains
the right to amend, alter or terminate the Severance Policy at any time and an employee’s
eligibility for severance payments will be conditioned upon that employee releasing the Company for
any claims relating to their employment (including the termination of employment).exv10w1

 

EXHIBIT 10.1

THIRD AMENDMENT TO LEASE

     THIS THIRD AMENDMENT TO LEASE (the “Third Amendment”) is entered into as of this 25th
day of February, 2008, by and between PLYMOUTH PROPERTIES REALTY LLC, a Delaware limited liability
company, with an address in care of Great Point Investors LLC, Two Center Plaza, Suite 410, Boston,
MA 02108 (“Landlord”), and ZAREBA SYSTEMS, INC., a Minnesota corporation, with an address
of 13705 26th Avenue N., Suite 102, Plymouth, MN 55441-3644, formerly known as Water
Instruments, Inc. (“Tenant”).

WITNESSETH:

     WHEREAS, Plymouth Properties Realty Corp., as landlord (“Predecessor”), and Tenant,
entered into a Lease Agreement dated January 4, 2002, as amended by Amendment of Lease Agreement
dated March 18, 2002, and by Amendment of Lease Agreement dated April 30, 2004 (the “Second
Amendment”) (as amended, the “Lease”), whereby Tenant is leasing from Landlord
approximately 6,895 rentable square feet of floor area (the “Existing Premises”) in the
building commonly known as Annapolis Business Centre, 13705 26th Avenue N., Plymouth,
Minnesota (the “Building”); and

     WHEREAS, Landlord has succeeded to the rights of Predecessor, as landlord under the Lease; and

     WHEREAS, Tenant has changed its name from “Water Instruments, Inc.” to “Zareba Systems, Inc.”;
and

     WHEREAS, Tenant and Landlord have agreed to extend the Term of the Lease for a period of
thirty-eight (38) months commencing on February 1, 2008 and expiring on March 31, 2011; and

     WHEREAS, Landlord and Tenant desire to amend the Lease, upon the terms and provisions set
forth herein, to extend the Term as set forth herein, and to make other modifications to the terms
and provisions of the Lease.

     NOW, THEREFORE, in consideration of the mutual promises herein contained and other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties
hereto, Landlord and Tenant agree as follows:

     1. Capitalized terms not otherwise expressly defined herein shall have the meanings ascribed
to them in the Lease. The term “Lease”, as used in the Lease shall include the Lease, as
amended by this all amendments thereto, including this Third Amendment.

     2. (a) Tenant acknowledges that Predecessor has transferred its interest in the Lease, as
landlord, to Landlord. As of November 1, 2004, all references in the

 

 

Lease to Predecessor and its address (including but not limited to Section 3(f) and Section 24
of the Lease) are hereby deleted and replaced with the following:

“Plymouth Properties Realty LLC

c/o Great Point Investors LLC

Two Center Plaza, Suite 410

Boston, MA 02108

Attn: Joseph A. Versaggi

with a copy to:

United Properties LLC

3500 American Boulevard West

Suite 200

Bloomington, MN 55431

Attn: Lisa Dongoske

Rent payments to be sent to:

(a) by regular mail to:

Plymouth Properties Realty LLC

14577 Collections Center Drive

Chicago, IL 60693

(b) by overnight mail to:

Bank of America Lockbox Services

14577 Collections Center Drive

Chicago, IL 60693”

                    (b) All references in the Lease to “Water Instruments, Inc.” are deleted in their entirety and
replaced with, “Zareba Systems, Inc.”

     3. Term. Notwithstanding any provisions of the Lease to the contrary, the Term of the
Lease shall expire on March 31, 2011.

     4. Base Rent. Paragraph 3(a) of the Lease, last amended by paragraph 3 of the Second
Amendment, is further amended by adding the following rental schedule thereto:

               “(v) No Minimum Rent is due to Landlord for the months of February and March, 2008;

               (vi) For the period commencing on April 1, 2008 and expiring on March 31, 2009, the
sum of $64,123.50 per annum, payable in equal monthly installments, in advance, of
$5,343.63 per month;

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               (vii) For the period commencing on April 1, 2009 and expiring on March 31, 2010, the
sum of $66,047.21 per annum, payable in equal monthly installments, in advance, of
$5,503.93 per month; and

               (vii) For the period commencing on April 1, 2010 and expiring on March 31, 2011, the
sum of $68,028.62 per annum, payable in equal monthly installments, in advance, of
$5,669.05 per month.”

     5. Acceptance of the Leased Premises. Tenant acknowledges that all “Landlord Work” as
described in Section 5 of the Lease and in the Second Amendment has been completed to Tenant’s
satisfaction, and all allowances provided for therein and in the Second Amendment, if any, have
been paid in full and that Tenant accepts the Expansion Premises in its present “as is”, where is,
with all faults condition.

     6. Tenant represents to Landlord that Tenant has not dealt with any broker or agent in
connection with this Third Amendment, other than United Properties LLC (the “Broker”), and
no broker or agent, other than the Broker, negotiated this Third Amendment. Tenant agrees to
indemnify, defend and hold Landlord, its asset manager, its property manager and their respective
employees, harmless from and against any claims for a fee or commission made by any broker or
agent, other than the Broker, claiming to have acted by or on behalf of Tenant in connection with
this Third Amendment.

     7. It is mutually agreed that all covenants, conditions and agreements set forth in the Lease,
as amended hereby, shall remain binding upon the parties and inure to the benefit of the parties
hereto and their respective permitted successors and assigns.

     8. Except as modified hereby, all other terms and conditions of the Lease shall remain
unchanged and in full force and effect and are hereby ratified and confirmed by the parties hereto.
Tenant represents and warrants to Landlord that (a) Tenant is not in default under any of the
terms and provisions of the Lease, (b) Landlord is not in default in the performance of any of its
obligations under the Lease, and (c) Tenant is unaware of any condition or circumstance which, with
the giving of notice or the passage of time or both, would constitute a default by Landlord under
the Lease. Tenant further acknowledges that Tenant has no defenses, offsets, liens, claims or
counterclaims against Landlord under the Lease or against the obligations of Tenant under the Lease
(including, without limitation, any rentals or other charges due or to become due under the Lease).

     9. Any inconsistencies or conflicts between the terms and provisions of the Lease and the
terms and provisions of this Third Amendment shall be resolved in favor of the terms and provisions
of this Third Amendment.

     10. This Third Amendment shall not be modified except in writing signed by both parties
hereto.

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     11. The submission of this Third Amendment shall not constitute an offer and this Third
Amendment shall not be effective and binding unless and until fully executed and delivered by each
of the parties hereto.

     12. Tenant represents and warrants for itself that all requisite organizational action has
been taken in connection with this transaction, and the individuals signing on behalf of Tenant
represent and warrant that they have been duly authorized to bind the Tenant by their signature.
Landlord represents and warrants for itself that all requisite organizational action has been taken
in connection with this transaction, and the individuals signing on behalf of Landlord represent
and warrant that they have been duly authorized to bind the Landlord by their signature.

     13. This Third Amendment may be executed in counterparts, each of which shall be deemed an
original and all of which when taken together shall constitute one fully executed original Third
Amendment, binding upon the parties hereto, notwithstanding that all of the parties hereto may not
be signatories to the same counterpart. Additionally, telecopied signatures may be used in place
of original signatures on this Third Amendment. Landlord and Tenant intend to be bound by the
signatures on the telecopied document, are aware that the other party will rely on the telecopied
signatures, and hereby waive any defenses to the enforcement of the terms of this Third Amendment
based on the form of signature.

[SIGNATURES ON FOLLOWING PAGE]

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     IN WITNESS WHEREOF, the parties hereto have executed this Third Amendment to be effective on
the date first indicated above.

Landlord:

PLYMOUTH PROPERTIES REALTY LLC, a Delaware limited liability company

	 	 	 	 	 
	By:

	 	/s/ Randolph L. Kazazian
 

Name: Randolph L. Kazazian
	 	 
	 

	 	Title: Manager	 	 

Tenant:

ZAREBA SYSTEMS, INC., a Minnesota corporation

	 	 	 	 	 
	By:

	 	/s/ Jerry Grabowski
 

	 	 
	 

	 	Name: Jerry Grabowski	 	 
	 

	 	Title: President and CEO	 	 

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