Document:

Exhibit 10.47

Exhibit 10.47

NON-EMPLOYEE DIRECTOR RESTRICTED STOCK UNIT AWARD AGREEMENT1

The Shaw Group Inc.

2008 Omnibus Incentive Plan

This Restricted Stock Unit Award Agreement (the “Agreement”) dated as of [Insert Grant
Date]2 (the “Grant Date”) is entered into between The Shaw Group Inc. (the “Company”)
and [Insert Recipient’s Name] (the “Recipient”) pursuant to The Shaw Group Inc. 2008 Omnibus
Incentive Plan (as the same may hereafter be amended, supplemented or otherwise modified, the
“Plan”).

THE PARTIES HERETO AGREE AS FOLLOWS:

1. Incorporation of Plan Provisions. The Award evidenced hereby is made under and pursuant
to the Plan, a copy of which is available from the Company’s Secretary and incorporated herein by
reference, and the Award is subject to all of the provisions thereof. Capitalized terms used
herein without definition shall have the same meanings given such terms in the Plan. The Recipient
represents and warrants that he or she has read the Plan and is fully familiar with all the terms
and conditions of the Plan and agrees to be bound thereby.

2. Award of Restricted Stock Units. In consideration of the Recipient’s service on the
Board of Directors (the “Board”) of the Company, the Company hereby awards to the Recipient under
the Plan a total of [Insert #] Restricted Stock Units (the “Award”) subject to the terms and
conditions set forth in this Agreement and the Plan.

3. Vesting of Restricted Stock Units.

(a) The Restricted Stock Units shall vest according to the following schedule (each date on
which vesting occurs shall be referenced herein as a “Vesting Date”):

	 	 	 
	On or after each of the following dates	 	Cumulative Percentage of Restricted Stock Units Vested
	[Insert 1st
Vesting Date]	 	33 1/3%
	 
	 	 
	[Insert 2nd Vesting Date]	 	66 2/3%
	 
	 	 
	[Insert 3rd
Vesting Date]	 	100%

(b) Notwithstanding the foregoing, (i) in the event that the Director ceases to be a member of
the Board prior to the earlier to occur of (x) the one year anniversary of the Grant Date and (y)
the Company’s Annual Meeting of Shareholders in the calendar year following the Grant Date, the
Award shall be automatically forfeited, and (ii) in the event that the Director ceases to be a
member of the Board at any time after the one year anniversary of the Grant Date, the vesting of
the Award (or applicable unvested portion thereof) shall be automatically accelerated.

4. Restricted Stock Units are Non-Transferable. The Restricted Stock Units awarded hereby
may not be sold, assigned, transferred, pledged or otherwise disposed of, either voluntarily or
involuntarily, prior to payment.

 

	 	 	 
	1	 	This form is for non-employee Directors only.
	 
	2	 	The date on which the Restricted Stock Units evidenced
hereby were granted.

 

 

 

5. Payment upon Vesting of Restricted Stock Units. Subject to the terms and conditions of
the Plan, the Company shall, as soon as practicable following each Vesting Date, either:

(a) deliver to you a number of Shares equal to the aggregate number of Restricted Stock Units
that became vested on the applicable Vesting Date;

(b) make a cash payment to you equal to the Fair Market Value of a Share on the Vesting Date
multiplied by the number of Restricted Stock Units that became vested on the Vesting Date; or

(c) use any combination of (a) or (b), in the sole discretion of the Company.

Upon payment by the Company, the respective Restricted Stock Units shall therewith be canceled.

6. No Dividend or Voting Rights. The Recipient acknowledges that he or she shall be
entitled to no dividend or voting rights with respect to the Restricted Stock Units.

7. Withholding Taxes; Section 83(b) Election.

(a) No Shares or cash will be payable upon the vesting of a Restricted Stock Unit unless and
until the Recipient satisfies any Federal, state or local withholding tax obligation required by
law to be withheld in respect of this Award. The Recipient acknowledges and agrees that to satisfy
any such tax obligation the Company may deduct and retain from the cash and/or Shares payable upon
vesting of Restricted Stock Units such cash and/or such number of Shares as is equal in value to
the Company’s minimum statutory withholding obligations with respect to the income recognized by
the Recipient upon such vesting (based on minimum statutory withholding rates for Federal and state
tax purposes, including payroll taxes, that are applicable to such income). The number of such
Shares to be deducted and retained shall be based on the closing price of the Shares on the
applicable Vesting Date.

(b) The Recipient acknowledges that no election under Section 83(b) of the Internal Revenue
Code of 1986 may be filed with respect to this Award.

8. Miscellaneous.

(a) No Representations or Warranties. Neither the Company nor the Committee or any of
their representatives or agents has made any representations or warranties to the Recipient with
respect to the income tax or other consequences of the transactions contemplated by this Agreement,
and the Recipient is in no manner relying on the Company, the Committee or any of their
representatives or agents for an assessment of such tax or other consequences.

(b) Investment. The Recipient hereby agrees and represents that any Shares payable
upon Vesting of the Restricted Stock Units shall be held for the Recipient’s own account for
investment purposes only and not with a view of resale or distribution unless the Shares are
registered under the Securities Act of 1933, as amended.

(c) Necessary Acts. The Recipient and the Company hereby agree to perform any further
acts and to execute and deliver any documents which may be reasonably necessary to carry out the
provisions of this Agreement.

 

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(d) Severability. The provisions of this Agreement are severable and if any one or
more provisions may be determined to be illegal or otherwise unenforceable, in whole or in part,
the remaining provisions, and any partially enforceable provision to the extent enforceable in any
jurisdiction, shall nevertheless be binding and enforceable.

(e) Waiver. The waiver by the Company of a breach of any provision of this Agreement
by the Recipient shall not operate or be construed as a waiver of any subsequent breach by the
Recipient.

(f) Binding Effect; Applicable Law. This Agreement shall bind and inure to the
benefit of the Company and its successors and assigns, and the Recipient and any heir, legatee, or
legal representative of the Recipient. This Agreement shall be interpreted under and governed by
and constructed in accordance with the laws of the State of Louisiana.

(g) Administration. The authority to manage and control the operation and
administration of this Agreement shall be vested in the Committee, and the Committee shall have all
powers with respect to this Agreement as it has with respect to the Plan. Any interpretation of
the Agreement by the Committee and any decision made by it with respect to the Agreement is final
and binding.

(h) Amendment. This Agreement may be amended by written agreement of the Recipient
and the Company, without the consent of any other person.

IN WITNESS WHEREOF, the parties to this Agreement have executed this Agreement effective as of the
date first above written.

	 	 	 	 	 	 	 
	 	 	COMPANY:	 	 
	 
	 	 	 	 	 	 
	 	 	THE SHAW GROUP INC.	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ Dirk J. Wild	 	 
	 	 	 	 	 
	 	 	Dirk J. Wild	 	 
	 	 	Senior Vice President and	 	 
	 	 	Chief Human Resources Officer	 	 
	 
	 	 	 	 	 	 
	 	 	RECIPIENT:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	[Insert Recipient’s Name]	 	 

 

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[*] = CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

Exhibit 10.8.1

AMENDMENT NO. 4 TO DISTRIBUTION AGREEMENT

This AMENDMENT NO. 4 TO DISTRIBUTION AGREEMENT (this “Amendment”) is made and entered into as of
April 1, 2010 (the “Effective Amendment Date”) by and between Century Medical, Inc., a Japanese
corporation with its principal place of business located at 1-6-4 Ohsaki, Shinagawa-Ku, Tokyo,
141-8588, Japan (“DISTRIBUTOR”), and Cardica, Inc., a Delaware corporation with its principal place
of business located at 900 Saginaw Drive, Redwood City, California 94063 USA (“COMPANY”).

1 R E C I T A L S

     WHEREAS, DISTRIBUTOR and COMPANY have entered into that certain Distribution Agreement
effective as of June 16, 2003, as amended by that First Amendment to Distribution Agreement entered
into March 30, 2007, as further amended by that Second Amendment to Distribution Agreement dated
June 13, 2007, and as further amended by that Amendment No. 3 to Distribution Agreement dated
January 24, 2008 (collectively, the “Distribution Agreement”);

     WHEREAS, concurrent with the execution of this Amendment, DISTRIBUTOR and COMPANY are entering
into that certain Amendment No. 3 to Convertible Subordinated Note Agreement, pursuant to which,
among other things, the Maturity Date of the Note (as such terms are defined therein) will be
extended; and

     WHEREAS, in connection therewith, DISTRIBUTOR and COMPANY have agreed to amend certain
provisions contained in the Distribution Agreement;

     NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein,
and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and subject to and on the terms and conditions herein set forth, the Parties agree as
follows:

	A.	 	Definitions. Unless otherwise defined herein, all capitalized terms in this
Amendment shall have the respective meanings ascribed to them in the Distribution Agreement.

	B.	 	Amendment to Section 8.1. Section 8.1 of the Distribution Agreement is hereby deleted in its
entirety and replaced with the following provision:

“COMPANY shall sell the Products to DISTRIBUTOR at the prices set forth in
Schedule 1. Payments on purchase orders shall be due at the end of the
month immediately following the month of shipment of the Products to
DISTRIBUTOR. Payment shall be made by wire transfer in U.S. funds to an
account designated in writing by COMPANY. All shipments of Products shall be
billed to DISTRIBUTOR at the price in effect for each Product in accordance
with this Section 8.1 and Schedule 1, on the date of DISTRIBUTOR’s
purchase order for such Products. COMPANY shall have the right to change the
prices of the Products no more than once each Contract Year consistent with
prices charged to third-party international distributors of the Products,
taking into consideration such factors as exchange rates, device-specific
reimbursement rates for the Products in the Territory, if any, competition, and the like, by notifying
DISTRIBUTOR in writing of any such change at least ninety (90) days prior to
the effective date of any

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[*] = CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

such change; provided, however, that until the date on
which COMPANY repays all principal and accrued interest under that certain
Amended and Restated Note issued by COMPANY in an aggregate principal amount of
$3,000,000 pursuant to that certain Subordinated Convertible Note Agreement
dated June 16, 2003, as amended by Amendment No. 1 to Convertible Subordinated
Note Agreement dated August 6, 2003, as further amended by Amendment No. 2 to
Convertible Subordinated Note Agreement dated March 30, 2007, and as further
amended by Amendment No. 3 to Convertible Note Agreement of even date herewith
(collectively, the “Note Agreement”), COMPANY shall not raise the prices of any
of the Products listed on Schedule 1. Notwithstanding the foregoing,
in no event shall any price increase exceed [*]% of the then current price for
such Product. DISTRIBUTOR shall have the right to request a change in price,
taking into consideration such factors as exchange rates, device-specific
reimbursement rates for the Products in the Territory, if any, competition, and
the like, by notifying COMPANY in writing of any such request and the reason
for such request which request COMPANY shall consider in good faith.”

	C.	 	Reduction and Maintenance of Current MPL. Notwithstanding Section 8.6 of the Distribution
Agreement, the Parties hereby agree that (1) the MPL currently in effect for Contract Year 6
shall immediately be reduced to 1,800 units, (2) the MPL for Contract Year 7 shall be 1,800
units, and (3) COMPANY shall not increase the MPL until the date on which COMPANY repays all
principal and accrued interest under the Note (as defined in the Note Agreement).

	D.	 	Schedule 1, Products and Prices. Schedule 1 of the Distribution Agreement, Products
and Prices, is hereby deleted and replaced with a new Schedule 1, attached hereto.

	E.	 	Entire Agreement. Except as specifically modified or amended hereby, the Distribution
Agreement shall remain in full force and effect and, as modified or amended, is hereby
ratified, confirmed and approved. This Amendment and the Distribution Agreement constitute
the entire and final agreement between the Parties on the subject matter hereof and supersede
any and all prior oral or written agreements or discussions on the subject matter hereof.
This Amendment and the Distribution Agreement may not be modified in any respect except in a
writing which states the modification and is signed by both Parties hereto.

	F.	 	Conflicts. This Amendment shall be governed by all the terms and conditions of the
Distribution Agreement. In the event of any conflict between the terms of the Distribution
Agreement and the terms of this Amendment, the terms of this Amendment shall control.

[Remainder of this page intentionally left blank]

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[*] = CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed as of the Effective
Amendment Date.

	 	 	 

	COMPANY:
	 	 
	 
	 	 
	CARDICA, INC.
	 	 
	 
	 	 
	/s/ Bernard Hausen
 

Name: Bernard Hausen

	 	 
	Title: President and CEO
	 	 
	 
	 	 
	DISTRIBUTOR:
	 	 
	 
	 	 
	CENTURY MEDICAL, INC.
	 	 
	 
	 	 
	/s/ Akira Hoshino
 

Name: Akira Hoshino

	 	 
	Title: President & CEO
	 	 

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[*] = CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE
COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

2 Schedule 1. Products and Prices

	u 	 	 $[*] FCA per Pas-Port, Proximal Device.

	 	 	In accordance with Section 8.1 of the Distribution Agreement, as amended, this price shall be
valid until the date on which COMPANY repays all principal and accrued interest under that
certain Amended and Restated Note issued by COMPANY in an aggregate principal amount of
$3,000,000 pursuant to the Note Agreement.

If the selling price to DISTRIBUTOR exceeds [*]% of COMPANY’s average U.S. selling price, then
DISTRIBUTOR shall have the right to discuss pricing matters with COMPANY. COMPANY shall reasonably
disclose its average U.S. selling price to DISTRIBUTOR upon written request by DISTRIBUTOR.

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