Document:

Exhibit 10.1

EXHIBIT 10.1

Dear David,

I am pleased to offer you the position of CEO of RM Restaurant Holding Corp. (the “Company”).

The terms of the employment offer are as follows:

Compensation Package

Your annual base salary will be $500,000. You will participate in an annual incentive plan that will provide you with
a discretionary bonus opportunity, targeted at 50% of your annual base salary, or $250,000.  The maximum bonus
potential will be equal to 200% of such target. However, for 2011, your target bonus will be prorated based upon the
period of your employment with the Company during 2011 and will be no less than 100% of the prorated target bonus.
Your bonus will be paid to you in accordance with the terms of the Company’s bonus plan, but you must be employed by
the Company on the date the bonus is paid in order to receive the bonus.

Equity Package

Subject to the final approval of the Board of Directors of the Company, you will have an opportunity to participate in
the stock option plan adopted by the Company. The value of the options when exercised is expected to yield, based upon
projections to be determined, a net amount equal to your base salary plus your Target Bonus times the number of years
you have been employed by the Company as of the date of exercise. You expressly understand and acknowledge that the
value expectation hereunder is based on estimates and assumptions which are inherently subject to significant business,
economic and competitive uncertainties and contingencies, many of which are beyond the control of the Company. The
value of the shares underlying the options may be materially more or materially less when the options are exercised.
Under no circumstances should such information be construed as a representation or prediction that the Company will
achieve or is likely to achieve any particular results. Such options will vest over a five year period at a rate of 20%
per year, with the first 20% vesting on the first anniversary of your first day of employment with the Company. In
addition, your options will vest fully upon a cash merger or cash sale of all or substantially all of the Company’s
assets or stock to a non-affiliate of the Company (as determined by the Company’s Board of Directors in its sole
discretion) (each a “Company Sale”).

Relocation Policy

During the one year period following the date of this letter, the Company will pay (or reimburse you for) the costs for
selling your home (including in this instance the amount by which the sale price is less than the price you paid for
your home, if any), including a gross-up for taxes, and actual moving expenses but in no event shall the sum of all
such amounts exceed $250,000 (the “Relocation Budget”). The Company will also pay your commuting expenses and the cost
for COBRA health benefits until you are eligible to participate in the Company’s health plan, but all such items will
be deducted from the Relocation Budget, dollar for dollar. If within one year following the date of your employment
you voluntarily terminate your employment with the Company, you shall repay to the Company the full amount of the
Relocation Budget paid to you. The determination of whether a particular expense is eligible for payment or
reimbursement will be made by the Company in accordance with its expense reimbursement policies.

 

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Miscellaneous

The vacation policy and benefits will be the same as other senior executives of the Company.

Please be advised that the offer is contingent upon the successful outcome of a security and background check. Also
please be advised that your employment is for an indefinite period and is terminable at the will of either the Company
or you, with or without cause at any time, subject only to such limitations as may be imposed by law. This offer of
employment is also contingent on you not being subject to any restrictive covenants which would impact your ability to
perform the services contemplated (or you having delivered us an effective waiver thereof). By signing below, you are
confirming to us that you are not presently subject to or otherwise bound by a non-compete, non-solicit,
confidentiality or similar restriction with any person with respect to any prior or existing employment, investment or
other relationship. You agree to indemnify the Company, its affiliates and direct and indirect shareholders, and each
of their respective officers, directors, employees and advisors (collectively, the “Indemnitees”) for all damages,
liabilities, claims, costs and expenses incurred by any Indemnitee as a result of any breach or alleged breach of the
non-competition provision contained in your current employment agreement with Bennigan’s Franchising Co. or its
affiliated entities.

Your estimated target start date will be June 1, 2011.

Severance Policy

If your employment is terminated by the Company without “cause” (as such term is defined in the Company’s stock option
plan), then subject to the execution of a satisfactory release by you, you will receive:

	 	•	 	Salary continuation (in accordance with the Company’s payroll practice as in effect at the time of your
termination) equivalent for each month worked up to a maximum of twelve months or until other employment is
secured; and

	 	•	 	Continued medical and dental coverage in accordance with the Company’s plans that are then in place until
the end of the salary continuation period (maximum of twelve months) or, at the Company’s option, coverage
under another medical and/or dental plan.

Your salary continuation and other benefits will start being paid (or provided) to you following your execution of a
satisfactory release. Such release must be executed within 60 days (or such shorter period specified in the release)
following your termination. Upon any termination, you shall have a duty to mitigate damages and costs to the Company.

Compliance with Law

This letter is intended to comply with applicable law. Without limiting the foregoing, this letter is intended to
comply with the requirements of section 409A of the Internal Revenue Code (“409A”), and, specifically, with the
separation pay and short term deferral exceptions of 409A. Notwithstanding anything in the letter to the contrary,
separation pay may only be made upon a “separation from service” under 409A and only in a manner permitted by 409A.
For purposes of 409A, the right to a series of installment payments under this letter shall be treated as a right to a
series of separate payments. In no event may you, directly or indirectly, designate the calendar year of a payment.
All reimbursements and in-kind benefits provided in this letter shall be made or provided in accordance with the
requirements of 409A (including, where applicable, the reimbursement rules set forth in the regulations issued under
409A). If you are a “specified employee” of a publicly traded corporation on your termination date (as determined by
the Company in accordance with 409A), to the extent required by 409A, separation pay that is due under this letter will
be delayed for a period of six months. Any separation pay that is postponed because of 409A will be paid to you (or,
if you die, your beneficiary) within 30 days after the end of the six-month delay period.

 

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Conclusion 

This offer letter constitutes the entire agreement between the parties pertaining to the subject matter hereof and
supersedes all prior understandings, negotiations and discussions, whether oral or written, with regard thereto.

I am excited about you joining our team and look forward to working with you.

Please sign a copy of this letter to acknowledge your agreement with its conditions and return a copy of it to me as
soon as possible.

Sincerely,

/s/ Clarence E. Terry     

Clarence E. Terry

Accepted

/s/ David Goronkin        

David Goronkin

3/28/11                         

Date

 

3Exhibit 10.1

Exhibit 10.1

AMENDMENT NO. 6 TO DEVELOPMENT, LICENSE

AND COMMERCIALIZATION AGREEMENT

This Amendment No. 6 (“Amendment No. 6”) to the Development, License and
Commercialization Agreement is made and effective as of the 6th day of April, 2011 (“Amendment
Effective Date”) between Idenix Pharmaceuticals, Inc., with offices at 60 Hampshire Street,
Cambridge Massachusetts 02139, USA (“Idenix US”), Idenix (Cayman) Limited with offices c/o
Walkers SPV Limited, Walker House, Mary Street, George Town, Grand Cayman, Cayman Islands
(“Idenix Cayman” and together with Idenix US, “Idenix”) and Novartis Pharma AG with
offices at Forum 1, Novartis Campus, 4056 Basel, Switzerland (“Novartis”).

INTRODUCTION

	 	A.	 	Novartis and Idenix are parties to the Development, License and
Commercialization Agreement made as of 8 May, 2003, as amended by Amendment No. 1
dated as of 30 April, 2004, Amendment No. 2 dated as of 21 December, 2004,
Amendment No. 3 dated as of 27 February, 2006, Amendment No. 4 dated as of 28
September, 2007 and Amendment No. 5 as of 28 January 2009 (as so amended, the
“Novartis License Agreement”).

	 	A.	 	Idenix US has proposed to issue and sell in a public offering up to
US$59,000,000 in shares of common stock, US $0.001 par value per share, of Idenix
US at a price as yet to be determined (the “Financing”).

	 	B.	 	Solely in connection with the Financing and in accordance with a
General Waiver and Consent between Idenix US and Novartis dated as of the Amendment
Effective Date (“Waiver and Consent”), Novartis has agreed to waive certain
rights and grant certain consents under the Idenix Pharmaceuticals, Inc. Amended
and Restated Stockholders Agreement dated 27 July 2004 among Idenix US, Novartis
and certain other parties.

	 	C.	 	In consideration of the Waiver and Consent, Idenix has agreed to lower
one of the minimum percentage ownership requirements applicable to the ODC Options,
on the terms and conditions set out below.

 

 

 

NOW THEREFORE for and in consideration of the mutual covenants contained in this
Amendment No. 6 and in the Waiver and Consent, Idenix and Novartis agree:

Amendment. Unless otherwise defined or amended by the terms of this Amendment No. 6, all
initial capitalized defined terms used have the meanings as defined in the Novartis License
Agreement.

1. Article I of the Novartis License Agreement is hereby amended by deleting the definition of
“Majority Equity Standard Period” and restating such defined term as follows:

“Majority Equity Standard Period”. Majority Equity Standard Period
shall mean the period commencing on the Effective Date and terminating on
the later of (a) the sixtieth (60th) consecutive day on which
Novartis and its Affiliates own less than thirty percent (30%) of the Voting
Stock of Idenix and (b) if applicable, the cure by Idenix of any
then-outstanding breach of its obligations under Section 4 of that certain
Stockholders’ Agreement, dated as of the date hereof, by and among Idenix
US, Novartis and the other stockholders of Idenix US signatory thereto (the
“Stockholders Agreement”); provided, that the question of
whether or not there has occurred such a breach shall be resolved under the
provisions of Section 13.6 (unless such a determination has been made or a
dispute resolution process has been commenced under the relevant provisions
of the Stockholders’ Agreement, in which case such determination shall
control).

Article I of the Novartis License Agreement is amended by deleting the
definitions of “ODC Rights Period” and “Minimum Equity Standard Period” and
restating the defined term “ODC Rights Period” as follows:

“ODC Rights Period”. ODC Rights Period shall mean the period
beginning on the Effective Date and ending on the third (3rd)
anniversary of the date on which the Majority Equity Standard Period is
first terminated.

2. Announcements. A Party may disclose the terms of this Amendment No. 6 only if that
Party reasonably determines, based on advice from its counsel, that it is required to make the
disclosure by applicable law, regulation or legal process, including without limitation by the
rules or regulations of the US Securities and Exchange Commission (“SEC”) or similar
regulatory agency in a country other than the US or of any stock exchange or NASDAQ. The Parties
will cooperate with each other to ensure the disclosing Party discloses only those terms of this
Amendment No. 6 as the disclosing Party reasonably determines, based on advice from its counsel,
are required by applicable law, regulation or legal process to be disclosed. Each Party will
deliver to the other Party promptly any written correspondence received by it or its
representatives from the SEC, and advise the other Party promptly of any other material
communication between it or its representatives with the SEC, with respect to any confidential
treatment request with respect to this Amendment No. 6.

3. Status. This Amendment No. 6 amends and supplements the Novartis License
Agreement. Except as otherwise provided for herein, the Novartis License Agreement remains in full
force and effect unaffected hereby. This Amendment No. 6 shall be deemed incorporated into and
become a part of the Novartis License Agreement and shall be subject to its terms.

 

 

 

EXECUTION Idenix and Novartis have caused this Amendment No. 6 to be duly executed by
their authorized representatives, as of the date first written above.

	 	 	 	 	 
	 	

IDENIX PHARMACEUTICALS, INC.

 	 
	 	By:  	                                                     /s/ Maria Stahl
 	 
	 	 	Name:  	Maria Stahl 	 
	 	 	Title:  	SVP, General Counsel 	 
	 
	 	IDENIX (CAYMAN) LIMITED

 	 
	 	By:  	                                                     /s/ Maria Stahl
 	 
	 	 	Name:  	Maria Stahl 	 
	 	 	Title:  	Director 	 
	 
	 	NOVARTIS PHARMA AG

 	 
	 	By:  	                                                     /s/ Tony Rosenberg
 	 
	 	 	Name:  	Tony Rosenberg 	 
	 	 	Title:  	Head Partnering & Emerging Businessess 	 
	 	 	 
	 	By:  	                                                     /s/ Matt Owens
 	 
	 	 	Name:  	Matt Owens 	 
	 	 	Title:  	Senior Legal Counsel

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