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  Exhibit 10.1    
    

 
 

  PONIARD PHARMACEUTICALS, INC.
  MANAGEMENT INCENTIVE PLAN
  (effective as of January 1, 2009)    
    

 SECTION 1—INTRODUCTION  

 Plan Objectives  

        The Poniard Pharmaceuticals, Inc. Management Incentive Plan (the "Plan") is a cash bonus plan. The purpose of the Plan is to
focus executive management on the achievement of key corporate goals of Poniard Pharmaceuticals, Inc. (the "Company") and to provide incentive awards for the achievement of such goals. 

 Effective Date  

        The Plan is effective for the Plan Year beginning January 1, 2009 and ending December 31, 2009. A new Plan Year will
commence on January 1 of each year thereafter, unless the Board and the Compensation Committee determine otherwise. 

 SECTION 2—DEFINITIONS  

        Unless defined elsewhere in the Plan, certain capitalized terms used in the Plan have the following
definitions: 

	•
	"Board" means the Board of Directors of the Company.   

	•
	"Compensation Committee" means the Compensation Committee of the Company's Board.   

	•
	"Participants" means executives management of the Company, including classes thereof designated by title or position, who
are eligible to participate in the Plan as set forth in Section 4 of the Plan.   

	•
	"Plan Year" means the twelve-month period coinciding with the Company's annual fiscal year. 

 SECTION 3—PLAN ADMINISTRATOR  

        Subject to the terms of the Plan, the Compensation Committee shall administer the Plan and, with input from the Board, shall
(i) determine the corporate goals applicable to a Plan Year, including the relative weighting assigned to each such goal, and (ii) approve incentive payout amounts for a Plan Year.
Except as otherwise provided in the Plan, the Compensation Committee is authorized to make all other determinations under the Plan and to interpret and administer the Plan. Any determinations of the
Compensation Committee shall be final, conclusive and binding on Participants. 

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 SECTION 4—INCENTIVE AWARDS  

 Corporate Goals and Maximum Payment Amounts  

        Each Participant shall be eligible to receive a maximum payout for achievement of corporate goals for a Plan Year equal to the
following percentage of annual base salary (as in effect at the end of the applicable Plan Year): 

			
	Title

 
	 	Percentage of Annual

Base Salary 
	 CEO
	 	50%
	 President & COO
	 	35%
	 Other Executives (CFO, CMO, Senior Vice President, Vice President)
	 	20-30%, as designated in each case by the Compensation Committee

        The
Compensation Committee may adjust the foregoing percentage amounts for Participants, in its sole discretion. If all corporate goals are achieved for a Plan Year, Participants are
eligible to receive 100% of their maximum payout amounts and, in the event of extraordinary achievement of goals, amounts in excess of 100% of the maximum payout amounts. If one or more goals are
partially achieved for a Plan Year, partial credit may be given with respect to such goals. In assessing achievement of corporate goals and related payouts, the Compensation Committee shall have the
discretion to take into account additional corporate accomplishments for the applicable Plan Year. Furthermore, the Compensation Committee, with input from the Board, may, during a Plan Year, make
adjustments to the corporate goals established for that Plan Year or to the amounts otherwise payable with respect to a Plan Year as the result of extraordinary, unforeseen or other conditions that
either positively or negatively affect the Company's performance. The Compensation Committee may determine that no payments shall be made under the Plan for a Plan Year if, in its sole discretion, the
overall performance of the Company does not warrant the payment of incentive awards. 

        In
addition, the Compensation Committee may determine for a Plan Year to include achievement of individual goals in the determination of payout amounts under the Plan. 

 Incentive Award Payments  

        Unless specifically provided otherwise in a written agreement between the Company and a Participant, a Participant must be employed by
the Company during an entire Plan Year to be eligible for a payment under the Plan for such Plan Year. Notwithstanding the foregoing, individuals who become Participants during a Plan Year may receive
pro-rated incentive awards. 

        Participants
who remain employed through an applicable Plan Year (or until the end of a Plan Year in the event of a pro-rated incentive award) will be eligible to receive an
incentive payment under the Plan, even if the Participant is not employed by the Company on the date the payment is made. 

        Payment
of incentive amounts under the Plan shall be made as soon as practicable after the end of the applicable Plan Year, provided that such payment shall be made not later than the
15th day of the third calendar month of the calendar year following the end of the applicable Plan Year. 

 SECTION 5—GENERAL  

 No Trust or Fund  

        The Plan shall be unfunded. All amounts payable under the Plan shall be paid from the general assets of the Company. Nothing in the
Plan shall require the Company to segregate any monies or other property, or to create any trusts, or to make any special deposits for any amounts payable to any 

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Participant,
and no Participant shall have any rights that are greater than those of a general unsecured creditor of the Company. 

 Plan Amendment or Termination  

        The Compensation Committee reserves the right to unilaterally amend, revoke, or terminate this Plan or any portion of it, at any time,
for any reason whatsoever, with or without cause or advance notice. 

 Right of Employment  

        Nothing in this Agreement alters the "at will" nature of each Participant's employment. A Participant or the Company may terminate a
Participant's employment relationship for any reason or for no reason, with or without cause or advance notice. Furthermore, the Company has no obligation for uniformity of treatment of Participants
under the Plan. 

 Tax Withholding  

        The Company shall have the right to deduct from all payments under this Plan any federal or state taxes or other payroll withholdings
required by law to be withheld with respect to such payments. 

 Section 409A of the Internal Revenue Code  

        The Company intends that the Plan and the payments and other benefits provided hereunder be exempt from the requirements of
Section 409A of the Internal Revenue Code of 1986, as amended, the regulations issued thereunder and any applicable guidance (together, "Code Section 409A") though the Company makes no
representations or warranties to Participants with respect to any tax, economic or legal consequences of the Plan or any payments or other benefits provided hereunder. To the extent Code
Section 409A is applicable to the Plan (and such payments and benefits), the parties intend that the Plan (and such payments and benefits) comply with the deferral, payout and other limitations
and restrictions imposed under Code Section 409A. In addition, if a Participant is a "specified employee," within the meaning of Code Section 409A, then to the extent necessary to avoid
subjecting the Participant to the imposition of any additional tax under Code Section 409A, amounts that would otherwise be payable under the Plan during the six month period immediately
following a Participant's "separation from service," as defined under Code Section 409A, shall not be paid to the Participant during such period, but shall be accumulated and paid to the
Participant in a lump sum on the first business day after the earlier of the date that is six months following his or her separation from service or his or her death. Notwithstanding any other
provision of the Plan to the contrary, the Plan shall be interpreted, operated and administered in a manner consistent with such intentions. In accordance with the foregoing, the Plan shall be deemed
to be amended, and any deferrals and distributions hereunder shall be deemed to be modified, to the extent permitted by and necessary to comply with Code Section 409A and to avoid or mitigate
the imposition of additional taxes under Code Section 409A. 

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Exhibit 10.1

PONIARD PHARMACEUTICALS, INC. MANAGEMENT INCENTIVE PLAN (effective as of January 1, 2009)Exhibit 4.9.2.2

 

EXECUTION VERSION

 

AMENDMENT
NO. 2 (this “Amendment”), dated as of May 19, 2009, between HERTZ
VEHICLE FINANCING LLC (“HVF”) and THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., a national banking association (as successor to BNY MIDWEST TRUST
COMPANY, an Illinois trust company), as trustee (together with its successors
in trust thereunder as provided in the Base Indenture referred to below, the “Trustee”)
to the Amended and Restated Series 2005-1 Supplement dated as of August 1,
2006 (as amended, modified, restated or supplemented from time to time, the “Series 2005-1
Supplement”), between HVF and the Trustee to the Second Amended and
Restated Base Indenture, dated as of August 1, 2006, between HVF and the
Trustee (as amended, modified, restated or supplemented from time to time,
exclusive of Series Supplements, the “Base Indenture”).

 

WITNESSETH:

 

WHEREAS,
HVF and the Trustee desire to amend the Series 2005-1 Supplement as herein
set forth;

 

WHEREAS, Section 6.12 of the Series 2005-1 Supplement
permits the Series 2005-1 Supplement to be amended in accordance with the
terms of the Base Indenture;

 

WHEREAS, with the satisfaction of the Rating Agency
Condition with respect to each Series of Notes Outstanding, the delivery
of an Opinion of Counsel substantially in the form set as Exhibit A
hereto and the consent of holders of 100% of the Series 2005-1 Notes, Sections
12.2 and 12.3 of the Base Indenture permit HVF and the Trustee to amend the Series 2005-1
Supplement in order to modify the Enhancement relating to the Series 2005-1
Supplement;

 

WHEREAS, pursuant to Section 6.6 of the Series 2005-1
Supplement MBIA Insurance Corporation (“MBIA”) is deemed to be the holder
of 100% of the Class A Notes for purposes of consenting to an amendment of
the Series 2005-1 Supplement, waiving any provision of the Base Indenture
and giving direction to the Trustee pursuant to the Base Indenture;

 

WHEREAS,
HVF and the Trustee have entered into the Amended and Restated Series 2005-2
Supplement, dated as of August 1, 2006, supplementing the Base Indenture
(as amended, modified, restated or supplemented from time to time, the “Series 2005-2
Supplement”);

 

WHEREAS,
HVF, Hertz and MBIA have entered into that certain Letter Agreement Re:
Amendment No. 2, dated as of the date hereof (the “Letter Agreement”);
and

 

WHEREAS, Section 2.03 of the Insurance Agreement
requires HVF to obtain the consent of MBIA in connection with any amendment to
any provision of the Series 2005-1 Supplement;

 

 

NOW,
THEREFORE, based upon the mutual promises and agreements contained herein, and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the undersigned, intending to be legally bound, hereby
agree as follows:

 

AGREEMENTS

 

1.  Defined Terms.  Capitalized terms used but not defined herein
shall have the respective meanings assigned to them in the Base Indenture or,
if not defined therein, in the Series 2005-1 Supplement.

 

2.  Amendment to the Series 2005-1
Supplement.  The following shall be
added to the definition of “Non-Eligible Manufacturer Amount” immediately after
the phrase “be sold under the Related Documents” in the final line thereof:

 

“; provided that if at any time, any of Ford, GM or Chrysler
does not constitute an Eligible Manufacturer as a result of such Manufacturer
ceasing to be an Eligible Program Manufacturer (each, an “Excluded Eligible
Program Manufacturer”), then, for so long as each such Excluded Eligible
Program Manufacturer is not an Eligible Manufacturer, each such Excluded
Eligible Program Manufacturer shall be deemed to be an Eligible Manufacturer
solely for purposes of determining the Non-Eligible Manufacturer Amount”.

 

3. Trustee Direction.  By agreeing, acknowledging and consenting to
this Amendment, MBIA (as deemed holder of the Class A Notes relating to
the Series 2005-1 Supplement) hereby directs the Trustee to enter into
this Amendment.

 

4. Effectiveness.  This Amendment shall be effective upon (i) its
execution and delivery by all the parties hereto, (ii) the execution and
delivery of an analogous amendment with respect to the Series 2005-2
Supplement (the “Series 2005-2 Amendment”) (a copy of such Series 2005-2
Amendment to be provided to MBIA promptly upon the execution thereof) and (iii) the
satisfaction or waiver of the Rating Agency Condition with respect to each Series of
Notes Outstanding; provided, that if HVF fails to comply with the
Advance Covenant (as defined in the Letter Agreement) on any date prior to the
Covenant Termination Date (as defined in the Letter Agreement), then this
Waiver Agreement shall cease to be of any further force and effect on and after
the date of such failure.  Each of HVF,
MBIA and the Trustee hereby agrees that the sole effect of a breach of the
Advance Covenant shall be the termination of the effectiveness of the
Amendment, and that no other remedy under any Related Document, at law or in
equity shall be available to any party as a result of such breach.

 

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5.  Reference
to and Effect on the Series 2005-1 Supplement; Ratification.

 

(a) Except as
specifically amended above, the Series 2005-1 Supplement and Base
Indenture are and shall continue to be in full force and effect and are hereby
ratified and confirmed in all respects.

 

(b) The execution,
delivery and effectiveness of this Amendment shall not operate as a waiver of
any right, power or remedy of any party hereto under the Series 2005-1 Supplement,
or constitute a waiver of any provision of any other agreement.

 

(c) Upon the
effectiveness hereof, each reference in the Series 2005-1 Supplement to “this Series Supplement”,
“hereto”, “hereunder”, “hereof” or words of like import referring to the Series
2005-1 Supplement, and each reference in any other Related Document to “the Series 2005-1
Supplement”, “thereto”, “thereof”, “thereunder” or words of like import
referring to the Series 2005-1 Supplement, shall mean and be a reference
to the Series 2005-1 Supplement as amended hereby.

 

6.  Counterparts; Facsimile
Signature.  This Amendment may be
executed in any number of counterparts, each of which when so executed and
delivered shall be deemed to be an original and all of which counterparts,
taken together, shall constitute but one and the same instrument.  Any signature page to this Amendment
containing a manual signature may be delivered by facsimile transmission or
other electronic communication device capable of transmitting or creating a
printable written record, and when so delivered shall have the effect of
delivery of an original manually signed signature page.

 

7.  Governing
Law.  THIS
AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW
YORK, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HERETO SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAW.

 

8.  Headings.  The descriptive headings of the various
sections of this Amendment are inserted for convenience of reference only and
shall not be deemed to affect the meaning or construction of any of the
provisions thereof.

 

9. Third-Party Beneficiaries.   The Hertz Corporation shall be an express
third-party beneficiary under this Amendment.

 

10. Severability.  The failure or unenforceability of any
provision hereof shall not affect the other provisions of this Amendment.  Whenever possible each provision of this
Amendment shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Amendment shall be
prohibited by or invalid under applicable law, such provision shall be
ineffective to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of
this Amendment.

 

11.  Interpretation.  Whenever the context and construction so
require, all words used in the singular number herein shall be deemed to have
been used in the plural, and vice

 

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versa, and the masculine gender shall include the
feminine and neuter and the neuter shall include the masculine and feminine.

 

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IN
WITNESS WHEREOF, HVF and the Trustee have caused this Amendment to be duly
executed by their respective officers hereunto duly authorized as of the day
and year first above written.

 

	
   

  	
   

  	
  HERTZ VEHICLE FINANCING
  LLC,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
  /s/ R. Scott Massengill                                   [SEAL]

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  R. Scott Massengill

  
	
   

  	
   

  	
  Title:

  	
  VP & Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  THE BANK OF NEW YORK
  MELLON

  
	
   

  	
   

  	
  TRUST COMPANY, N.A., as
  successor to

  
	
   

  	
   

  	
  BNY MIDWEST TRUST
  COMPANY,

  
	
   

  	
   

  	
  as Trustee,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
  /s/ John D. Ask

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  John D. Ask

  
	
   

  	
   

  	
  Title:

  	
  Assistant Treasurer

  
					

 

 

	
  AGREED, ACKNOWLEDGED
  AND CONSENTED:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  MBIA INSURANCE
  CORPORATION,

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  by

  	
  /s/ Brian J. Cooney

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Brian J. Cooney

  	
   

  	
   

  	
   

  
	
  Title:

  	
  Director

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