Document:

exv10w1

 

Exhibit 10.1

May 2, 2008

Mr. Marc Stolzman

2212 34th Avenue South

Seattle, WA 98144

Dear Marc:

On behalf of Blue Nile, Inc. (the “Company”), I am pleased to offer you the position of Chief
Financial Officer, reporting to me. The terms of your relationship with the Company will be as
indicated herein.

	1.	 	Position. You will become the Chief Financial Officer for the Company. As such, you
will have responsibilities as determined by me.
	 
	2.	 	Base Salary. You will be paid a monthly salary of $23,333 less payroll deductions
and all required withholdings, which represents an annualized rate of $280,000. Your wage
will be payable in accordance with the Company’s standard payroll policies. The Company may
modify your compensation from time to time as it deems necessary.
	 
	3.	 	Performance Bonus. You will be eligible to earn an annualized target bonus award of
$120,000. Your performance bonus can range from 0% to 200% of target based on the performance
of the Company and your individual performance against key objectives. This bonus amount will
be prorated for 2008 based on the number of months you are employed by the Company (employment
for a partial month will be calculated as if employed for the full month).
	 
	4.	 	Signing Bonus. You will be paid a signing bonus of $25,000, which will be paid upon
the date of your employment with the Company.
	 
	5.	 	Stock Options. We will recommend to the Board of Directors or Subcommittee that you
be granted a non-statutory stock option to purchase 70,000 shares of common stock of the
Company. The exercise price of your stock option will be the closing sales price (or the
closing bid, if no sales were reported) as quoted on the NASDAQ National Market on the last
market trading day prior to the date of grant.  One fourth (1/4) of the shares subject to such
option will vest on the first year anniversary of your hire date and one forty-eighth (1/48)
of the shares subject to such option will vest each month thereafter as long as your
employment continues with the Company.  The Company’s 2004 Equity Incentive Plan, the Grant
Notice and the Stock Option Agreement shall govern the terms of this option grant in all
respects.
	 
	6.	 	Employee Discount Program.  An exception to our standard policy of offering favorable
retail pricing is a discount that is granted to our employees.  You will be eligible for Blue
Nile’s Employee Discount Program, which offers a special benefit in the form of a significant
discount on Blue Nile products. 

 

 

Mr. Marc Stolzman

May 2, 2008

Page 2

	7.	 	Benefits. You will be eligible to receive healthcare and dental benefits, life and
disability insurance, transportation allowance, and a 401(k) plan effective on the first of
the month following your date of hire. The Company may modify your benefits from time to time
as it deems necessary.
	 
	8.	 	Standard Employee Agreement.  As a condition to your employment, you are required to
sign and comply with the Company’s standard Employee Nondisclosure, Proprietary Information, Inventions,
Nonsolicitation and Noncompetition Agreement relating to the protection of the Company’s
proprietary and confidential information and assignment of inventions.  In addition, you will
be required to abide by the Company’s strict policy that prohibits any new employee from using
or bringing with him or her from any previous employer any confidential information, trade
secrets, or proprietary materials or processes of such former employer.
	 
	9.	 	Employee Handbook.  As a Company employee, you will be expected to abide by the
Company’s rules and standards.  You further understand that you will be required to
acknowledge and sign that you have received a copy of the Company’s Employee Handbook and that
you understand the Company’s policies set forth in the Company’s Employee Handbook.
	 
	10.	 	Federal Immigration Law. For purposes of federal immigration law, you will be
required to provide to the Company documentary evidence of your identity and eligibility for
employment in the United States. Such documentation must be provided to us within three (3)
business days of your date of hire, or our employment relationship with you may be terminated.
	 
	11.	 	At-Will Employment. Your employment is at-will, as defined under applicable law.
This means you may voluntarily quit at any time, for any reason or for no reason, simply by
notifying the Company. Likewise, the Company may terminate your employment at any time, for
any reason or for no reason, with or without cause or advance notice. This at-will employment
relationship cannot be changed except in a writing signed by a Company officer.
	 
	12.	 	Entire Agreement. This Agreement, together with your Employee Nondisclosure,
Proprietary Information, Inventions, Nonsolicitation and Noncompetition Agreement, constitutes
the complete and exclusive statement of your employment agreement with the Company. The
employment terms in this letter supersede any other agreements or promises made to you by
anyone, whether written or oral.
	 
	13.	 	Start Date. June 9, 2008.

Again, let me indicate how pleased we all are to extend this offer, and how much we look forward to
working together. Please indicate your acceptance by signing and returning the enclosed copy of
this letter. 

 

 

Mr. Marc
Stolzman 
May 2, 2008 
Page 3

Very truly yours,

Blue Nile Inc.

	 	 	 
	      /s/ Diane Irvine
 

	 	 
	Diane Irvine, Chief Executive Officer
	 	 

The foregoing terms and conditions are hereby accepted:

	 	 	 	 	 
	Signed:

	 	/s/ Marc Stolzman	 	 
	 

	 	 

Marc Stolzman
	 	 
	 
	 	 	 	 
	Dated:

	 	May 3, 2008exv10w2

 

Exhibit 10.2

FRANCE

ALLERGAN, INC.

2008 INCENTIVE AWARD PLAN

SUB-PLAN – RESTRICTED STOCK UNITS

This sub-plan (the “Sub-Plan”) for the Allergan, Inc. 2008 Incentive Award Plan, as amended
from time to time (the “Plan”), provides additional definitions and conditions that will
apply to the operation of the Plan with respect to each grant of “Restricted Stock Units” (as
defined in the Plan) granted to an “Eligible French Employee” (as defined below).

The additional terms and conditions provided for by the Sub-Plan are specific to Eligible French
Employees only and do not affect the rights afforded to any other individual granted Restricted
Stock Units or any other award under the Plan. The additional terms and conditions provided for by
the Sub-Plan also do not affect the terms of the Plan for purposes of compliance with U.S. laws
(including, without limitation, tax and securities laws).

The provisions of this Sub-Plan form an integral part of the Plan and each award of Restricted
Stock Units granted to an Eligible French Employee shall be governed by the provisions of this
Sub-Plan. The provisions of the Plan shall remain applicable insofar as they do not contradict the
provisions of the Sub-Plan.

Notwithstanding any other provision of the Plan, Restricted Stock Units may be granted under the
Sub-Plan to Eligible French Employees as follows:

	1.	 	Definitions. Wherever the following terms are used in the Sub-Plan they shall have the
meanings specified below, unless the context clearly indicates otherwise. Capitalized terms
not specifically defined herein shall have the meanings specified in the Plan or, if not
defined therein, the Terms.
	 
	 	 	“Eligible French Employee” means any Employee of a French Subsidiary under the terms
of a written or oral employment agreement and/or any Employee of a French Subsidiary holding
an executive office and who may be granted Restricted Stock Units under the law.
	 
	 	 	“Date of Grant” means the date on which the Administrator grants to an Eligible
Individual the right to receive Restricted Stock Units and determines the number of Units
subject to such grant.
	 
	 	 	“French Subsidiary” means a Subsidiary incorporated, domiciled, organized or formed
in France.
	 
	 	 	“Participant” means only an Eligible French Employee who has been granted Restricted
Stock Units.
	 
	2.	 	Vesting. In no event shall any Restricted Stock Units granted to an Eligible French Employee
vest prior to the first day of the second calendar year following the Date of Grant of such
Restricted Stock Units.
	 
	3.	 	Delivery of Shares. In no event shall any shares of Stock underlying Restricted Stock Units
be distributed to a Participant (or in the event of a Participant’s death, to his or her
estate) prior to the second anniversary of the Date of Grant of such Restricted Stock Unit
(the “Delivery Date”).
	 
	4.	 	Holding Period. In no event shall any Participant sell, pledge, assign or transfer any shares of Stock acquired pursuant to Restricted Stock Units prior to the earlier of (i) the
second anniversary of the Delivery Date or (ii) such Participant’s death or disability of
second or third category, as determined in accordance with Article L 341-1 of the French
Social Security Code (hereafter the “Holding Period”).

 

 

	5.	 	Trading Windows. In no event shall any Participant sell, pledge, assign or transfer any the shares of Stock acquired pursuant to Restricted Stock Units (i) during the ten trading
sessions preceding and following the date on which the consolidated accounts or annual
accounts of the Company are first released to the public, and (ii) during a period (x)
starting from the date on which the Board of Directors of the Company or any committee thereof
becomes aware of any information which, if published, could significantly affect the Company’s
market price and (y) ending at the close of the tenth trading session following the
publication of such information.
	 
	6.	 	10% Stockholders. No Restricted Stock Units shall be granted to any Eligible French Employee
who, on the date of grant, owns shares representing 10% or more of the outstanding common
stock of the Company.
	 
	7.	 	Currency. All amounts payable by a Participant shall be paid in U.S. dollars.
	 
	8.	 	Other Terms. Unless provided otherwise in this Sub-Plan, the terms and conditions of the
Plan shall remain unchanged.

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