Document:

Exhibit 10.5 - Amendment to Confidentiality and Non-Disclosure Agreement

EXHIBIT 10.5
AMENDMENT TO CONFIDENTIALITY AND NON-DISCLOSURE AGREEMENT
This AMENDMENT TO CONFIDENTIALITY AND NON-DISCLOSURE AGREEMENT (this “Amendment”), dated April 17, 2014, is entered into by and between Calpine Corporation, a Delaware corporation, with its principal executive offices at 717 Texas Avenue, Suite 1000, Houston, Texas 77002 (“Calpine”), and LS Power Equity Advisors, LLC, a Delaware limited liability company, with its principal executive offices at 1700 Broadway, 35th Floor, New York, NY 10019 (“LS Power”), referred to collectively as “Parties” and individually as “Party”. Capitalized terms not otherwise defined herein shall have their respective meanings as set forth in the Confidentiality Agreement.
W I T N E S S E T H:
WHEREAS, Calpine and LS Power are parties to that certain Confidentiality and Non-Disclosure Agreement, dated February 19, 2014 (the “Confidentiality Agreement”);  
WHEREAS, concurrently with the execution of this Amendment, Calpine and LS Power are entering into that certain Purchase and Sale Agreement, dated as of the date hereof (the “Agreement”); and 
WHEREAS, Calpine and LS Power are entering into this Amendment to amend certain provisions of the Confidentiality Agreement as set forth in further detail herein.
NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth in this Amendment, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
1    Amendment to Section 1c. definition of Representatives.  The definition of Representatives under section 1.c. is hereby amended by adding the following phrase at the very end thereof but before the period:  “and its or its affiliates’ limited partners and actual or potential lenders and, from and after the Closing Date (as defined in the Agreement), potential and actual purchasers” 
§2Addition of Section 12.  Section 12 is hereby added to the Confidentiality Agreement to read in its entirety as follows:
“12.    Standstill; Lock-Up: During the period from the Execution Date (as defined in the Agreement) until the earlier of (a) the Closing Date (as defined in the Agreement) and (b) seven (7) Business Days after the date of the termination of the Agreement, LS Power will not, and will cause its affiliates, including without limitation, Luminus Management, LLC, Luminus Energy Partners Master Fund, Ltd., LS Power Partners, L.P., LSP Cal Holdings I, LLC, LS Power Partners II, L.P., LSP Cal Holdings II, LLC, Vega Energy GP, LLC, Vega Asset Partners, LP (formerly known as Luminus Asset Partners, LP), Farrington Management, LLC, and Farrington Capital, L.P., and each of their respective affiliates and Representatives, not to, except as required by applicable Law, (i) sell(a “Transfer”), any any shares 

of capital stock of Calpine, other than to an affiliate of LS Power if, as a precondition to such Transfer, such affiliate agrees in writing, reasonably satisfactory in form and substance to Calpine, to be bound by all of the terms of this Section, or (ii) acquire(a “Purchase”), any shares of capital stock of Calpine.  Any attempted Transfer or Purchase of any shares of capital stock of Calpine in violation of this Section shall be null and void.” 
§3    Nature of Amendment; No Other Amendments; Effectiveness. (a) The Parties hereby acknowledge and agree that the provisions of Section 1 of this Amendment constitute an amendment to the Confidentiality Agreement.
(b)    Except as specifically amended by this Amendment, all other terms and provisions of the Confidentiality Agreement shall remain in full force and effect.
(c)    Each reference in the Confidentiality Agreement to the words “herein”, “hereof”, “hereby”, “hereto” and “hereunder” or words of like import referring to the Confidentiality Agreement shall mean and be a reference to the Confidentiality Agreement as amended by this Amendment.
(d)    Each reference to the Confidentiality Agreement in any other ancillary agreement entered into pursuant to or in connection with the Confidentiality Agreement shall mean and refer to the Confidentiality Agreement as amended by this Amendment.
§4    Captions. The section captions used herein are for reference purposes only, and shall not in any way affect the meaning or interpretation of this Amendment. 
§5    Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed to be an original and all of which shall constitute one and the same document.

[Signature Page Follows]

2

IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date first written above.
	
			
	CALPINE CORPORATION

	 
	 
	 

	By:
	 
	/s/ W. THADDEUS MILLER

	Title:
	 
	 

	 
	 
	 

	LS POWER EQUITY ADVISORS, LLC

	 
	 
	 

	By:
	 
	/s/ EDWARD J. SONDEY

	Title:
	 
	 

	 
	 
	 

3Exh 10.1 Separation Agreement

Exhibit 10.1

July 7, 2014

Arthur T. Sands, M.D., Ph.D.
[Address]

Dear Arthur:

The purpose of this letter is to confirm our agreement concerning your resignation as president and chief executive officer and as a member of the board of directors of Lexicon Pharmaceuticals, Inc. (the “Company”).

As of the date hereof (the “Separation Date”), you hereby resign as president and chief executive officer and as a member of the board of directors of the Company.  In connection with such resignation, you also hereby resign from any positions you currently hold as an officer or member of the boards of directors of any affiliates of the Company.  This letter constitutes notice of termination pursuant to Section 7 of the Employment Agreement between you and the Company, dated October 15, 1999, as subsequently amended (the “Employment Agreement”), and no additional notice of termination will be required under the Employment Agreement.  Your resignation pursuant to this letter will be treated for all purposes as a voluntary termination of your employment by you and the parties agree that no payments will be due pursuant to Section 6(b) of the Employment Agreement as a result of such resignation.

Notwithstanding the voluntary character of your termination, and subject to the following paragraph, the Company hereby agrees to pay salary continuation payments (pursuant to the Company’s normal payroll procedures) in an amount equal to your current base annual salary of $580,000, less applicable tax withholding, for a period of twelve (12) months following the Separation Date.  In the event the Company enters into any licensing transaction within ninety (90) days following the Separation Date pursuant to which the Company grants a third party rights to commercialize LX4211, and which becomes effective, then the period during which you will be entitled to receive such salary continuation payments will be extended by six (6) additional months, for a total period of eighteen (18) months following the Separation Date.  In addition, the Company hereby agrees to pay an additional single sum payment equal to 50% of your current base salary ($290,000), less applicable tax withholding, payable within 30 days following the Separation Date.  The Company also agrees to pay you monthly payments equal to $1,846.20 on regular pay dates of the Company, less applicable tax withholding, for a period of 18 months following your Separation Date to provide for the cost of continued benefit coverage under COBRA in accordance with your benefit coverage elections in effect immediately prior to the Separation Date.

The terms hereof are subject to your execution and return to the Company within 60 days of the Separation Date of a customary release relating to your employment with the Company which becomes effective and non-revocable within such period.  Payments pursuant to the preceding paragraph which would otherwise become due prior to such a release becoming effective and non-revocable will be delayed and paid in a lump sum promptly following the release becoming effective and non-revocable within such 60-day period.

Each installment payment payable pursuant to this agreement shall be treated as a separate payment for purposes of section 409A of the Internal Revenue Code of 1986, as amended.

The parties agree that, notwithstanding any provisions of Section 10(e) of the Employment Agreement to the contrary, you may retain any Confidential Information (as defined in the Employment Agreement) in your possession, custody or control to the extent and for long as such retention may be necessary or required for you to fulfill your obligations under the consulting agreement between you and the Company dated July 7, 2014.

The parties agree that the definition of “Competing Business” in Section 11(a) of the Employment Agreement is hereby amended to mean any other person or entity engaging in the clinical development of a drug (i) in direct conflict or competition with a Phase 3 drug development program being conducted by the Company or (ii) which inhibits or otherwise modulates a drug target that is the subject of any drug development program which has been or is being conducted by the Company or any drug discovery program to which the Company is devoting or has devoted material resources.  

It is agreed that, except as expressly provided herein, this letter shall not affect the rights and obligations of the parties under the Employment Agreement (including, without limitations, Sections 6(a), 10 and 11 thereof) or any other agreements between the parties.

If the foregoing correctly sets forth our mutual understanding, please so indicate by signing this letter in the space provided below and return it to the Company at the above address, whereupon this letter shall become effective.  
        
	
				
	

	Very truly yours,

	 
	Lexicon Pharmaceuticals, Inc.

	 
	 
	 
	 

	 
	 
	 
	 

	 
	By:
	/s/ Raymond Debbane

	 
	 
	Raymond Debbane

	 
	 
	Chairman of the Board of Directors

	 
	 
	 

	
			
	Accepted and agreed to:

	 
	 
	 

	 
	 
	 

	By:
	/s/ Arthur T. Sands
	 

	 
	Arthur T. Sands, M.D., Ph.D.
	 

	 
	 
	 

	Date:
	July 7, 2014

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