Document:

exv10w5

 

EXHIBIT 10.5

AMENDED AND RESTATED

TENDERING STOCKHOLDERS AGREEMENT

     This Amended and Restated Tendering Stockholder Agreement (the “Agreement”) dated as of
December 2, 2005, is entered into by and between Matrix Bancorp, Inc., a Colorado corporation (the
"Company”), and D. Mark Spencer (“Stockholder,” and together with the Company, the “Parties”).

Recitals

     WHEREAS, it is the Company’s intention to conduct a tender offer for the purchase of its
common stock, par value $.0001 per share, to commence as soon as practical, but not more than 30
days following completion of the private placement sale of shares of the Company’s common stock
which has commenced as of the date first set forth above;

     WHEREAS, on November 4, 2005, the Parties entered into an agreement (the “Original Agreement”)
to provide for the orderly disposition of the Stockholder’s holdings of the Company’s common stock;

     WHEREAS, the Parties now desire to amend and restate the Original Agreement;

     NOW, THEREFORE, intending to be legally bound, and for, and in consideration of, the terms,
conditions and mutual obligations set forth herein, and understanding the meaning and legal effect
of entering into this Agreement, the Parties hereto stipulate, agree, warrant and represent as
follows:

Section 1. Company Tender Offer and No Stock Disposition.

	 	(a)	 	The Company agrees that it shall conduct a tender offer (the “Tender Offer”) for the
purchase of its common stock at a per share price of not less than $19.00 to be commenced
as soon as practical, but not more than 30 days following completion of the private
placement sale of shares of the Company’s common stock (“Private Placement”).
	 
	 	(b)	 	The Stockholder agrees that he/she/it will, and will ensure that his/her/its affiliates
or associates shall, tender any and all shares of the Company’s common stock that the
Stockholder owns, directly or indirectly, beneficially or otherwise (the “Stockholder’s
Common Stock”), into the Tender Offer.
	 
	 	(c)	 	The Stockholder agrees that he/she/it will not dispose of such Stockholder’s Common
Stock between the date first written above and the date upon which Stockholder tenders
his/her/its Stockholder’s Common Stock in the Tender Offer.
	 
	 	(d)	 	The Stockholder agrees that he/she/it has not and will not purchase any shares of the
Company’s common stock between November 4, 2005 and the date upon which the Stockholder
tenders his/her/its shares of common stock into the Tender Offer.

Section 2. Representations and Warranties.

	 	(a)	 	Representations of the Company. The Company represents, warrants and covenants
to the Stockholder that: (i) the Company has full legal right, power and authority to enter
into and perform this Agreement; (ii) the execution and delivery of this Agreement by the
Company and the consummation by it of the transaction contemplated by this Agreement have
been

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	 	 	 	duly authorized by the Company; and (iii) this Agreement constitutes a valid, binding
and enforceable agreement of the Company.
	 
	 	(b)	 	Representations of Stockholder. The Stockholder represents, warrants and
covenants to the Company that: (i) Stockholder has the full legal right, power and
authority to enter into and perform this Agreement; (ii) the execution and delivery of this
Agreement and the consummation of the transaction contemplated by this Agreement have been
duly authorized by the Stockholder; (iii) this Agreement constitutes a valid, binding and
enforceable Agreement of the Stockholder; (iv) the Stockholder owns, directly or
indirectly, beneficially or otherwise, 1,147,876 shares of the Company’s common stock; and
(v) Stockholder will not request, directly or indirectly, a waiver or modification of any
provision of this Agreement.

Section 3. Nullification. The Company agrees that if the Tender Offer has not commenced
by the date which is 30 days following completion of the Private Placement, or is conducted at a
per share price of less than $19.00, all of the covenants and obligations of the Stockholder
hereunder shall be extinguished and become null and void.

Section 4. Miscellaneous.

	 	(a)	 	Specific Performance. The Company and the Stockholder acknowledges and agrees
that irreparable damage would occur in the event that any provision, term, condition,
representation, warranty, covenant or restriction in this Agreement were not performed or
complied with in accordance with their specific terms or were otherwise breached. It is
accordingly agreed that the Parties shall be entitled to an injunction or injunctions to
prevent or cure any and all breaches of the provisions of this Agreement and to enforce
specifically the terms and provisions hereof, this being in addition to any other remedy to
which such Party may be entitled by law or equity.
	 
	 	(b)	 	Severability. If any term, provision, covenant or restriction of this
Agreement is held by a court of competent jurisdiction to be invalid, void or
unenforceable, the remainder of the terms, provisions, covenants and restrictions of this
Agreement shall remain in full force and effect.
	 
	 	(c)	 	Counterparts. This Agreement may be executed in two or more counterparts, each
of which shall be deemed an original but all of which together shall constitute one and the
same instrument. This Agreement may be executed by facsimile signatures.
	 
	 	(d)	 	Governing Law. This Agreement shall be governed by and construed in accordance
with the internal laws of the State of Colorado without regard to conflicts of laws
principals that would require the application of any other law. Any action or proceeding
seeking to enforce any provision of, or based on any claims for equitable relief arising
out of this Agreement may be brought against any of the Parties only in the federal or
state courts of Colorado and each of the Parties consents to the jurisdiction of such
courts (and of the appropriate appellate courts) in any such action or proceeding and
waives any objection to venue laid therein. Process in any action or proceeding referred
to in the preceding sentence may be served on any party anywhere in the world.
	 
	 	(e)	 	Entire Agreement. This Agreement contains the entire understanding of the
Parties with respect to the matters covered hereby and this Agreement may be amended only
by an agreement in writing executed by the Parties hereto.

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	 	(f)	 	Notices. Any notice or other communication required or permitted to be given
hereunder shall be in writing and be effective (a) when personally delivered on a business
day during normal business hours at the address designated below; or (b) on the business
day following the date of mailing by overnight courier, fully prepaid, addressed to such
address.

	 	i.	 	Notice to the Company:

Matrix Bancorp, Inc.

700 17th Street

Suite 2100

Denver, Colorado 80202

Attention:

	 	ii.	 	Notice to Stockholder:

D. Mark Spencer

2550 Kerr Gulch

Evergreen, CO 80439

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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     IN WITNESS, WHEREOF, the Parties hereto have executed this Agreement as of the date first
written above.

	 	 	 	 	 
	MATRIX BANCORP, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ T. Allen McConnell
	 	 
	 

	 	 	 	 
	Name:

	 	T. Allen McConnell	 	 
	Title:

	 	Senior Vice President	 	 
	 
	 	 	 	 
	D. MARK SPENCER	 	 
	 
	 	 	 	 
	By:

	 	/s/ D. Mark Spencer	 	 
	 

	 	 	 	 

4<PAGE>
                                                                   Exhibit 10.54

                                                    BROOKS AUTOMATION
(BROOKS AUTOMATION LOGO)                  FY05 MANAGEMENT INCENTIVE PLAN PROGRAM
                                                   TERMS AND CONDITIONS

PURPOSE

The Brooks Automation Management Incentive Plan (MIP) is designed to recognize
and reward managerial performance as tied to the business and financial goals,
as well as individual objectives that ensure alignment to the Brooks Strategic
Plan.

PROCESS

All participating employees will receive a letter of eligibility from their
direct manager. This letter is a commitment of participation in the program in
addition to the targeted cash incentive. All letters will have a working example
of the plan along with this program description. Participants are encouraged to
read and understand the program.

TERMS AND CONDITIONS

The company reserves the right to limit the overall pool of cash available for
distribution to 15% of the actual Operating Income. This means if the funding
schedule generates an amount of cash greater than 15% of actual operating
income, then the funding will be rolled back. This ensures the affordability of
plan from a business point of view and a fair return to shareholders.

Brooks Management retains the discretion to make whatever adjustments it
considers necessary to ensure the motivational impact of the plan and to provide
a fair return to shareholders.

Eligible Employees

The Brooks Management Incentive Plan is limited to selected key management
employees with the following criteria:

      -     Regular full and/or part-time employees, employed for more than one
            quarter of the fiscal year

      -     Employee may participate in only one incentive or bonus program,
            e.g. MIP excludes sales incentive employees

Ineligible Employees

      -     Employees employed for less than one quarter

      -     All third party contracted employees

      -     Consultants with contracts are excluded

      -     Employees on an approved LOA or long term disability who have not
            worked at least one full quarter during the fiscal year, and have
            not returned to work on or before the date of payment, except
            employees on an approved Military or Family/Medical leave of absence
            who have worked a continuous quarter and have satisfactory
            performance.

<PAGE>
                                                    BROOKS AUTOMATION
(BROOKS AUTOMATION LOGO)                  FY05 MANAGEMENT INCENTIVE PLAN PROGRAM
                                                   TERMS AND CONDITIONS

Payment Conditions

Employees must be actively employed by the company on the date of payment and
have no corrective or discipline process in place.

Employees must have been assessed as having satisfactory performance for at
least one full quarter during the fiscal year.

Cash Incentive Targets for employees who terminate during the year, also
terminate and may not be allocated to others. However, if a participating
employee terminates and is replaced by a formerly non-participant (ex., employee
is promoted) and or new hire, then a cash incentive target may be developed on a
prorated basis (see prorated payments).

Employees who are employed on the last day of the fiscal year, but who are
terminated prior to the date of payment as part of a downsizing activity may
receive payment.

Employees who are employed for at least one full quarter during the fiscal year,
but who retire prior to the date of payment may receive payment.

In the event of the death of a participating employee, a prorated amount will be
provided to the estate for the period during which the employee was covered
under the plan.

In no case shall an individual employee receive an actual payment greater than
twice the cash incentive target.

Prorated Payments

Employees on long-term disability or Workers Compensation who have worked at
least one full quarter during the fiscal year and have returned to work on or
before the date of payment will receive a prorated payment based on the number
of whole months the employee has worked.

      -     A whole month is credited when the employee works the majority of
            the month.

When a management employee is newly hired in Q1, 2 or 3 and is recommended for
the Brooks FY04 MIP, the cash incentive target should be prorated at the point
of hire and made part of the offer.

If the date of hire is on or prior to the 15th of the month, then full credit of
the month will be given in the proration. If the date of hire is post the 15th
of the month, no credit for that month will be prorated. Proration will commence
with the following month of employment.

Employees hired in Q4 of the fiscal year are not eligible based on the
requirement of working one full quarter.

<PAGE>
                                                    BROOKS AUTOMATION
(BROOKS AUTOMATION LOGO)                  FY05 MANAGEMENT INCENTIVE PLAN PROGRAM
                                                   TERMS AND CONDITIONS

Payroll Processing

Participants should expect payments under the plan no later than sixty (60) days
of the public announcement of fiscal year end results. This is due to the legal
restraints of the announcement of fiscal year end results to the public, and the
performance assessments/planning of participating individuals.

The following deductions will be taken from the actual payment:

Employee Stock Purchase Plan
401K Plan
Employee's State, FICA, and other standard taxes
Note: MIP Actual payments are taxed at a flat Federal income tax rate of 25%

<PAGE>
                                                    BROOKS AUTOMATION
(BROOKS AUTOMATION LOGO)                  FY05 MANAGEMENT INCENTIVE PLAN PROGRAM
                                                   TERMS AND CONDITIONS

FY05 TARGET PERCENTAGES

<TABLE>
<CAPTION>
Management Level                            Target Percent (at 100% Achievement)
----------------                            ------------------------------------
<S>                                         <C>
CEO/President                                               100%
Executive Vice President                                    100%
Sr. Vice President                                           70%
Vice President                                               50%
Director                                                     25%
Sr. Manager                                               10 - 15%
Key technical Individual Contributor                      05 - 15%
</TABLE>

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