Document:

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Exhibit 10.01

 

Employment Agreement

Sunrise Technology Incorporated ("Company") and Paul Ker-Chin Chang ("Employee"), in consideration of the mutual promises set forth below, hereby agree as follows:

Employee has resigned as a member and Chairman of the Board of Directors, and Chief Executive Officer and President, of the Company. Employee has also resigned as an officer and/or director of each of the Company's subsidiaries where Employee holds such offices

Position

Effective immediately, Company will employ Employee as its Technology Advisor, reporting to the Company's Chief Executive Officer ("CEO").  

Salary$400,000 per year, payable monthly.

Expected Job Duties

 

Visit with the various divisions around the Company and work with their personnel to improve results by helping to:

 

	Work to improve the quality and effectiveness of existing products and develop new products that will advance the company's market position.
	Improve the effectiveness of individual divisional R&D operations.
	Improve the effectiveness of interdivisional R&D efforts.
	Review and optimize R&D methods and procedures within the company.
	Keep the Company's product packaging at the forefront of style and efficiency.
	Work through divisional and corporate management to correct any R&D deficiencies or launch any R&D initiatives.
	Motivate R&D teams to develop world class products in less time with low manufacturing cost.
	Travel as necessary from San Jose to Geneva, Atlanta, Montreal, Beijing, Modena and any other R&D centers the Company may operate from time to time, to work with their R&D teams for best success.

Report to the CEO as required by the CEO. As Technology Advisor, Employee will contribute as an advisory individual without direct reports.

Working Hours; Location

Full time (minimum 40 hours per week), at Company facilities or on Company travel, per Company's Employee Handbook.

Benefits (to continue per Company policy)

	10 paid holidays per year per company policy, 20 days of paid time off per year
	Medical, dental & vision insurance:  100% premium paid for employee; 50% premium paid for spouse and children
	Employee Stock Purchase Plan, Profit Sharing Plan, and 401(k) plan
	Others per employee handbook

Performance Review

Performance reviews are generally given every 12 months.

At Will Employment

The Company advises that conditions of employment may change from time to time without prior notice, and that any such changes could affect one or more of the provisions of this agreement. Employment with the Company may be terminated by either Employee or the Company for any reason at any time and is therefore considered "at will".  

Termination Without Cause

In the event that Employee's employment is terminated by the Company without CAUSE (as defined below), then if Employee executes a general release of claims on the form provided at that time by the Company, the Company shall provide Employee severance benefits consisting of a lump sum payment equal to six (6) months of Employee's regular base salary in effect at the time of the termination of employment less applicable withholdings and vesting acceleration of all Employee's outstanding but unexercised stock options.  The time for payment shall be appropriately delayed to the extent required by Section 409A of the Internal Revenue Code of 1986.  With respect to stock options Employee shall have the post-termination exercise period provided for in the applicable stock option agreement.

For purposes of this agreement, "CAUSE" shall mean the occurrence of any one or more of the following: 

	conviction of any felony or commission of any act of fraud, misappropriation or embezzlement;
	engaging in a fraudulent act damaging to the Company or in conduct or activities damaging to the property, business or reputation of the Company;
	failure to comply in any material respect with any term of employment or any written policies or lawful directives of management or the Board;
	any material act or omission involving malfeasance or negligence in the performance of employment duties; or
	material breach of this or any other agreement with the Company.

Entire Agreement; Amendment

This agreement is the entire agreement, and supercedes any previous agreement, regarding employment of Employee by the Company.  This agreement may be amended only by a writing signed by Employee and the CEO or Chairman of the Board of Directors of the Company.  

Arbitration

Any claim, dispute or controversy arising out of or in any way relating to this Agreement or the alleged breach of this Agreement will be submitted by the parties to binding arbitration in Santa Clara County, California by JAMS or by a judge to be mutually agreed upon.  This section will not prevent either party from seeking injunctive relief (or any other provisional remedy) from any court having jurisdiction over the parties and the subject matter of their dispute relating to your obligations under the Invention Assignment and Confidentiality Agreement between you and the Company.

Entered into, this February 7, 2006.

Sunrise Telecom Incorporated

	

By:__/s/ Henry P. Huff________
	

/s/ Paul Ker-Chin Chang___

	

Henry P. Huff, Chairman of the Board
	

Paul Ker-Chin Chang_

Exhibit 10.02

 

Description of Director Compensation Arrangements 

as adopted on February 7, 2006

            We do not compensate any employee for service as a director; our non-employee directors receive cash compensation and stock options for their services as directors.

Cash Compensation.    Each non-employee directors is paid an annual retainer of $40,000, paid quarterly.  The Chair of the Audit Committee receives an additional retainer of $20,000 per year, paid quarterly.  Each non-employee director also receives $1,000 for each Board meeting that he or she attends and for each Board committee meeting he or she attends (no more than $1,000 per day, even if multiple meetings).   Directors are reimbursed for their out-of-pocket expenses incurred in connection with attending Board and committee meetings. 

Stock Options.   Each non-employee member of the Board of Directors is granted an option to purchase 12,000 shares of common stock at fair market value, on an annual basis. These options vest in full on the anniversary of the date of grant, provided the director continues to serve as a director at that time.  They have a term of ten years and expire within 90 days of the director's termination of service, or one year if such termination is due to death or disability.NY3 - 398249.03

Exhibit 10.1

FORM OF

ROCKWELL COLLINS, INC.

RESTRICTED STOCK UNIT AWARD

To:[Director]

 

In accordance with the 2006 Long-Term Incentives Plan (the Plan) of Rockwell Collins, Inc. (the Company), and resolutions adopted by the Board of Directors at the February 7, 2006 meeting and any subsequent Board modification of director restricted stock unit compensation pursuant to the Plan (the Board Resolutions), the Company will provide to you (the Participant) on the date of its Annual Shareowner Meeting each year that you continue as a director of the Corporation an award (the Award) to receive restricted stock units (RSUs).  Each RSU represents the right to receive one share of Common Stock of the Company as compensation for your service on the Board of Directors (the Board) of the Company.

Additional RSUs are contemplated to be awarded to you under this Award pursuant to the Plan and the Board Resolutions quarterly each year representing the quarterly cash retainer or other fees otherwise payable to you on such date in respect of your service on the Board and its committees to the extent you have elected to defer the retainer or other fees pursuant to the Director's Election to Defer Receipt of Retainer Fees, which deferral election will be subject to the rules imposed by Internal Revenue Code Section 409A, as amended from time to time, including any proposed and final regulations and other guidance issued thereunder by the Department of the Treasury and/or the Internal Revenue Service (collectively, "Section 409A").  The number of additional RSUs to be awarded will be calculated in accordance with the Plan and will be based on Fair Market Value and the amount of fees then otherwise payable to you.

Capitalized terms used in this Award and not otherwise defined herein shall have the respective meanings ascribed to them in the Plan.

The RSUs have been awarded to you upon the following terms and conditions:

1.Rights of the Participant with Respect to the RSUs

a)No Shareholder Rights.  The RSUs granted pursuant to this Award do not and shall not entitle Participant to any rights of a shareholder of Common Stock.  The rights of Participant with respect to the RSUs shall remain forfeitable at all times prior to the date on which such rights become vested, and the restrictions with respect to the RSUs lapse, in accordance with Section 2 or 3.

b)Additional Restricted Stock Units.  As long as Participant holds RSUs granted pursuant to this Award, the Company shall credit to Participant, on each date that the Company pays a cash dividend to holders of Common Stock generally, an additional number of RSUs ("Additional RSUs") equal to the total number of whole RSUs and Additional RSUs previously credited to Participant under this Award multiplied by the dollar amount of the cash dividend paid per share of Common Stock by the Company on such date, divided by the Fair Market Value of a share of Common Stock on such date.  Any fractional RSUs resulting from such calculation shall be included in the Additional RSUs.  A report showing the number of Additional RSUs so credited shall be sent to Participant periodically, as determined by the Company.  The Additional RSUs so credited shall be subject to the same terms and conditions as the RSUs to which such Additional RSUs relate and the Additional RSUs shall be forfeited in the event that the RSUs with respect to which such Additional RSUs were credited are forfeited.

c)Conversion of Restricted Stock Units; Issuance of Common Stock.  No shares of Common Stock shall be issued to Participant prior to the date on which the RSUs vest, and the restrictions with respect to the RSUs lapse, in accordance with Section 2 or 3.  Neither this Section 1(c) nor any action taken pursuant to or in accordance with this Section 1(c) shall be construed to create a trust of any kind.  After any RSUs vest pursuant to Section 2 or 3, the Company shall promptly cause shares of Common Stock to be issued in book-entry form, registered in Participant's name or in the name of Participant's legal representatives, beneficiaries or heirs, as the case may be, in payment of such vested whole RSUs and any Additional RSUs.  The value of any fractional RSUs shall be paid in cash at the time certificates are delivered to Participant in payment of the RSUs and any Additional RSUs.

2.Early Vesting Upon Change of Control.  Subject to the other terms and conditions set forth herein, upon the effective date of a Change in Control, all of the RSUs shall become immediately and unconditionally vested, and the restrictions with respect to all of the RSUs shall lapse.  For purposes of this Award, a "Change in Control" shall be limited to a "change in control event" that meets the requirements of Section 409A.

3.Vesting Upon Termination of Directorship.  If, prior to vesting of the RSUs pursuant to Section 2, Participant ceases to serve on the Board of Directors of the Company for any reason (voluntary or involuntary) including death or permanent long-term disability, unless there are arrangements in place between the Company and Participant that preclude a "separation from service" under Section 409A, then, subject to the other terms and conditions set forth herein, Participant's rights to all of the unvested RSUs shall become immediately vested, and the restrictions with respect to all of the RSUs shall lapse as of the date of such departure from the Board.  No transfer by will or the applicable laws of descent and distribution of any RSUs that vest by reason of Participant's death shall be effective to bind the Company unless the Committee shall have been furnished with written notice of such transfer and a copy of the will or such other evidence as the Committee may deem necessary to establish the validity of the transfer.

4.Restriction on Transfer.  The RSUs and Additional RSUs shall be deliverable, during your lifetime, only to you and are not transferable by you other than (i) by will or by the laws of descent and distribution; or (ii) by gift to your spouse or natural, adopted or step-children or grandchildren (Immediate Family Members) or to a trust for the benefit of one or more of your Immediate Family Members or to a family charitable trust established by you or a member of your family.

5.Adjustments to Restricted Stock Units.  In the event of any change in or affecting the outstanding shares of Common Stock of the Company by reason of a stock dividend or split, merger or consolidation, or various other events, adjustments will be made as appropriate in connection with the RSUs as contemplated in the Plan. Notwithstanding anything in this paragraph to the contrary, no adjustment shall be made to the Award to the extent that the adjustment would constitute an additional deferral or acceleration of payment in violation of Section 409A.

6.Income Tax Matters.  The Company shall have the right, in connection with the vesting of RSUs under this Award, (i) to deduct from any payment otherwise due by the Company to Participant or any other person receiving delivery of cash or shares of Common Stock an amount equal to any taxes required to be withheld by law with respect to such delivery, (ii) to require Participant or any other person receiving such delivery to pay to the Company an amount sufficient to provide for any such taxes so required to be withheld or (iii) to sell such number of shares of Common Stock otherwise deliverable as may be necessary so that the net proceeds of such sale shall be an amount sufficient to provide for any such taxes so required to be withheld.

7.Miscellaneous.

a)This Award does not confer on Participant any right with respect to the continuance of any relationship with the Company or its subsidiaries, nor will it interfere in any way with the right of the Company to terminate such relationship at any time.

b)The Company shall not be required to deliver any shares of Common Stock upon vesting of any RSUs until the requirements of any federal or state securities laws, rules or regulations or other laws or rules (including the rules of any securities exchange) as may be determined by the Company to be applicable are satisfied, provided that in all cases the delivery of any shares of Common Stock will be made within such time frame following the scheduled payment date as is required to comply with the requirements of Section 409A.

c)An original record of this Award and all the terms hereof, executed by the Company, is held on file by the Company.  To the extent there is any conflict between the terms contained in this Award and the terms contained in the original held by the Company, the terms of the original held by the Company shall control.

 
ROCKWELL COLLINS, INC.

By:

Gary R. Chadick

Senior Vice President, 

General Counsel and Secretary

 

 

Dated:

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