Document:

Exhibit 10.14

 

WARRANT

 

MRV Communications, Inc. (the “Company”)
hereby offers                               
(the “Grantee”), pursuant to a resolution of the Board of Directors a Warrant
to purchase            shares
of the Common Stock, $.0017 par value per share, of the Company, at a price
of  $      
per share, for a total exercise price of                                             
($              ).  The purchase price of this Warrant shall
correspond to the market value of the warrant as determined by applying the
Black & Scholes formula.

 

The Company is making this grant to you to
encourage your efforts in helping the Company to grow and succeed. Regardless
of your decision whether or not to buy, you are requested to keep the number of
shares for which you are eligible strictly confidential. The terms and
conditions upon which this Warrant may be exercised are as follows:

 

An offer of pre-emption of this warrant shall be
made by a written notice to the Board of Directors of the Company if the Grantee
wishes to convey his warrant according to the provisions of this agreement to
another person. The same apply in the event that the Grantee, who is an
employee of the Company, or another company within the Company group,
terminates his employment, irrespective of the reason of the termination of the
employment. Such an offer shall be made by written notice no later than at the
date of the termination of the employment. Accepting an employment in another
company within the Company group is not regarded as the termination of
employment in this respect.

 

Where the warrants have been offered to the
Company, the Company shall, no later than 45 days from the receipt of the
notice of the offer of pre-emption, inform the Grantee as to whether the
Company will buy the warrant, recommend another purchaser or inform that the
right of redemption shall not be exercised. The right to buy warrants offered
through pre-emption applies only to the whole offered item. The Company has no
obligation to buy the offered warrants or to recommend another purchaser.

 

The purchase price of the offered item of
warrants under the pre-emption right shall, with regard to one warrant,
correspond to the market value of the warrant, whereby the warrant’s market
value, in the event that the parties cannot agree, shall be calculated by an
independent evaluator, who shall be appointed by the Company.  The purchase price of warrants acquired after
exercise of the pre-emption right shall be paid no later than 45 days after the
Company has given notice that the right of redemption shall be exercised.

 

The pre-emption right form a non-detachable
condition of this warrants and is executable against any new holder of the
warrant. Should the Grantee transfer warrants to a third party without having
observed the provisions regarding pre-emption in this agreement, then the
Company shall not be obliged to allow such third party purchaser of the
warrants to subscribe for shares in the Company. The Grantee furthermore
accepts and agrees that any transfer of warrants to a third party that is
carried out without the observance of the provisions regarding pre-emption in
this agreement shall be regarded as a significant breach of this agreement.

 

Initials
                     

 

1

 

In the event of any merger, consolidation or
sale of substantially all of the assets of MRV as an entirety, “Grantee” shall
have the right to exercise this Warrant into the kind and amount of shares of
stock and other securities and property (including cash) receivable by a holder
of the number of shares of Common Stock into which the Warrant might have been
exercisable immediately prior to such merger, consolidation or sale of
substantially all of the assets of MRV as an entirety. Any unexercised right to
this Warrant shall terminate without value on October 24, 2013 and are
immediately exercisable upon grant. The right to exercise this Warrant is
further restricted by other clauses within this document.

 

The rights represented by this Warrant may be
exercised during the life of the Warrant, at any time in whole or in part by
the surrender of this Warrant with the Purchase Form at the end hereof
properly executed, at the principal executive office of the MRV, payment to MRV
of the exercise price then in effect for the number of shares specified in the
above-mentioned Purchase Form. The Common Stock and the certificates for the
Common Stock so purchased shall be delivered to “Grantee” within a reasonable
time, not exceeding ten (10) days after the rights represented by this
Warrant shall have been so exercised. “Cashless” exercise of these Warrants
shall be allowed by the Company at its discretion and only in accordance with
U.S. Securities law. This warrant may be subdivided into smaller denominations
as requested by the Warrant holder.

 

MRV covenants and agrees that all shares of
Common Stock, which may be issued as part of this, Warrant will, upon issuance,
be validly issued, fully paid and non-assessable, and no personal liability
will attach to the holder thereof. MRV further covenants and agrees that,
during the life of the Warrant, MRV will at all times have authorized and
reserved a sufficient number of shares of its Common stock to provide for the
exercise of the Warrant.

 

The Warrant shall not entitle the Warrant holder
to any voting rights or other rights as a shareholder of MRV.

 

Initials
                     

 

2

 

The exercise price in effect at any time and the
number and kind of securities purchasable upon the exercise of the warrant
shall be subject to adjustment from time to time upon the happening of certain
events as described below:

 

In case MRV shall (i) declare a dividend or
make a distribution on its outstanding shares of Common Stock in shares of
Common Stock, (ii) subdivide or reclassify its outstanding of Common Stock
into a greater number of shares, or (iii) combine or reclassify its
outstanding shares of Common Stock into a smaller number of shares, then the
appropriate adjustments in the number and kind of such securities subject to
this warrant shall be made and the exercise price in effect at the time of the
record date for such dividend or distribution or of the effective date of such
subdivision, combination, reclassification, reorganization, merger,
consolidation, or recapitalization shall be proportionately adjusted so that
the holder of this warrant exercised after such date shall be entitled to
receive the aggregate number and kind of shares of MRV Common Stock which, if this
Warrant had been exercised by such holder immediately prior to such date, he
would have owned upon such exercise and been entitled to receive upon such
dividend, distribution, subdivision, combination, reclassification,
reorganization, merger, consolidation or recapitalization. Provided however no
adjustment in the exercise price shall be required unless such adjustment would
require an increase or decrease of at least five cents in such price.

 

“Grantee” acknowledges that the warrant and the
shares underlying the Warrant of MRV Common Stock have not been registered with
the Securities and Exchange Commission and that it is taking the shares for
investment purposes in the event it exercises this Warrant and not with a view
towards distribution. Upon exercise of this Warrant a legend to this effect
will placed upon the certificates. MRV agrees to register with the Securities
Exchange Commission, at MRV’s expense, the shares underlying the warrants after
the granting of these warrants.

 

This Agreement shall be governed by and in
accordance with the laws of the State of Delaware.

 

	
   

  	
   

  

 

 

I have read and understand the terms and
conditions of these Warrants and I agree to abide by them.

 

 

	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Date

  

 

3Exhibit 10.41

 

Contract of Lease
of Warehouse in Chengdu Bonded & Logistics Center

 

Contract No.:
CBL-2009-03

 

Party A (Landlord):
Chengdu Bonded & Logistics Investment Company Limited

Address: No. 8
Shuangbai Road, West Zone, Chengdu High-Tech Industrial Development Zone

Business License No.:
5101091001622

 

Party B (Tenant): Source
Photonics Company Limited

Address: 2# and 5#
Workshops, Chengdu Export Processing Zone, Sichuan

Business License No.:

 

Whereas Party A agrees to
rent its premises in the Chengdu Bonded & Logistics Center to Party B and
Party B agrees to lease the premises of Party A, pursuant to the provisions of the
Contract Law of the People’s Republic of China and applicable
laws and regulations, it is agreed as follows:

 

Article 1                      Party A lawfully owns the premises in the Chengdu
Bonded & Logistics Center, which are suitable for enterprises to use
as office or warehouse.

 

Article 2                      According to investigation and review, Party B will
enter the premises in the Chengdu Bonded & Logistics Center under its Source
Photonics Company Limited project.

 

Article 3                      Party A will rent the following premises (hereinafter
referred to as the “Premises”) to Party B:

 

1.               Domestic Warehouse A2-3 (No. 13/14/15)
warehouse, floor area: 308.61 square meters.

2.               Domestic Warehouse A2-3 office, floor
area: 30.84 square meters.

 

Article 4                      Term and purpose of lease:

 

1.               The term of lease of the Premises shall
be 12 months (one year) from August 6, 2009 to August 5,
2010.

 

2.               Party B hereby promises to Party A that
it will use the Premises as warehouse only and comply with applicable national
regulations on safety and environmental protection.

 

3.               Upon the expiration of the lease term,
Party A shall have the right to recover the Premises and Party B shall evacuate
and return the Premises to Party A. In the event that Party B intends to extend
the lease, it shall notify Party A in writing one month before the expiration
of the lease term. If Party A agrees to extend the lease, both parties shall
enter into a new lease contract.

 

1

 

Article 5                      Warehouse charges and terms of payment

 

1.               The warehouse fee shall be RMB 15
per square meters per month, i.e., RMB 4629.15 per month.

 

2.               The rent on office shall be RMB 20
per square meters per month, i.e., RMB 616.80 per month.

 

3.               The property management fee on the warehouse
and office shall be RMB 1.5 per square meters per month, i.e., RMB 509.18
per month.

 

4.               The warehouse fee, rent and property
management fee shall be paid on a (quarterly) basis. Party B shall pay the rent
and property management fee for the (quarter) in full amount one week before the
beginning of each (quarter). The first installment of rent and property
management fee shall be paid in full amount within 10 working days after the
entry into force of this Contract.

 

5.               The warehouse fee and property management
fee shall be remitted to the account designated by Party A on schedule. Upon the
receipt of the warehouse fee and property management fee paid by Party B, Party
A shall issue a corresponding receipt to Party B.

 

6.               The fees paid by Party B are for
warehouse fee and property management fee on the Premises only, not including the
expenses of water, electricity, gas, air conditioning and network and other
expenses, which shall be borne by Party B.

 

Article 6                      Security deposit

 

1.               Party B shall pay Party A a security
deposit of RMB 10491.90 (equivalent with two months’ rent). No interest
shall be charged on the security deposit.

 

2.               Party B shall pay the security deposit in
full amount within 5 working days after the entry into force of this Contract.

 

3.               The security deposit shall be remitted to
the account designated by Party A on schedule. Upon the receipt of the security
deposit paid by Party B, Party A shall issue a corresponding receipt to Party
B.

 

4.               During the lease term, in case Party B
becomes delinquent in the payment of any fee payable by Party B hereunder,
including but not limited to warehouse fee, property management fee, water
expense, electric expense, gas expense, air conditioning expense, network
expense, overdue fine and liquidated damages, and causes any loss to Party A,
Party A is entitled to deduct the amount in arrears from the security deposit and
request Party B to make up the deficiency (if any).

 

5.               In the event of any damage to the
Premises and ancillary facilities and equipment therein caused by Party B
during the lease term (fair wear and tear excluded), Party B shall promptly
restore the Premises and ancillary facilities and equipment therein to their
former state. Otherwise, Party A is entitled to deduct reasonable repair
expenses from the security deposit and request Party B to make up the
deficiency (if any).

 

2

 

6.               Upon the expiration of the lease term,
Party B shall restore the Premises to their former state. In the event that
Party B returns the Premises in good condition (fair wear and tear excluded) to
Party A upon the expiration of the lease term and hasn’t had any breach of Contract
during the lease term, Party A shall pay back the security deposit to Party B
within 5 working days of the expiration of lease term. Any item in the Premises
not removed by Party B within 10 days of the expiration of lease term shall be
deemed to have been waived by Party B and be disposed of by Party A at its sole
discretion.

 

Article 7                      Property management

 

1.               Upon the execution of this Contract,
Party B has already understood the property management on the Premises and
agrees to accept the property management on the Premises.

 

2.               During the lease term, Party B shall
unconditionally comply with Party A’s regulations on property management and
fire safety and pay the property management fee, water expense, electric
expense, gas expense, air conditioning expense, network expense and other
expenses on schedule.

 

3.               The expenses of water, electricity (power
consumption by office and central air conditioning) and energy consumption in the
office building shall be RMB 8.0 per square meters per month and paid monthly.
The expenses of water, electricity and energy consumption in the warehouse
shall be paid monthly according to actual quantity consumed.

 

Article 8                      Assign and underlet of the Premises

 

1.               Party B hereby waives its preemptive
right to purchase the Premises during the lease term. In the event of any
change in the title or operational right over the Premises, Party A does not
need to obtain the consent of Party B but shall notify Party B of such change. No
change in the title or operational right over the Premises shall affect the
performance of this Contract.

 

2.               Party B shall not underlet or sublet the
Premises without Party A’s consent. Party B may underlet or sublet the Premises
to a third party subject to Party A’s consent. In such case, Party B and the
said third party shall assume joint responsibility to Party A.

 

Article 9                      Insurance responsibility

 

During the lease, Party A
shall purchase the insurance for the Premise and Party B shall purchase the
insurance for its property inside the Premise and other necessary insurance
(including liability insurance). In case where Party A and Party B have not
purchased the above mentioned insurance, they shall bear their respective share
of compensation and liabilities arising therefrom.

 

Article 10                Responsibilities of both Parties

 

(A)      Party A’s responsibilities

 

1.               Deliver the Premises and facilities and
equipment therein on time and in good condition to Party B pursuant to the
provisions of this Contract.

 

2.               In the event that this Contract is
rescinded because Party A fails to provide the Premises pursuant to the
provisions of this Contract, Party A shall pay Party 10% of total warehouse fee
hereunder as liquidated damages.

 

3

 

3.               In the event that Party A breaches this Contract
and recovers the Premises prior to the expiration of this Contract, Party A
shall pay Party B 10% of total warehouse fee hereunder as liquidated damages.
In the event that the said liquidated damages are insufficient to cover Party B’s
losses, Party A is liable to make further compensation for Party B’s losses.

 

4.               For matters which shall be applied for or
requested by Party B to Party A pursuant to the provisions of this Contract,
Party A shall give a written reply to Party B within 3 working days of receipt
of written notice delivered by Party B

 

(B)        Party B’s responsibilities

 

1.               In the event that Party A decides to
terminate this Contract and recover the Premises during the lease term due to
any act of Party B as outlined in Article 11 Paragraph 3 hereof, Party B
shall pay Party A 10% of total warehouse fee hereunder as liquidated damages.
In the event that the said liquidated damages are insufficient to cover Party A’s
losses, Party B is liable to make further compensation for Party A’s losses.

 

2.               In the event that Party B becomes
delinquent in the payment of any sum due hereunder during the lease term, Party
B shall pay Party A 0.5% of total amount in arrears as overdue fine per day.

 

3.               Party B shall reasonably use the Premises
and ancillary facilities and equipment therein and maintain the Premises and ancillary
facilities and equipment therein in good condition (fair wear and tear excluded).
In the event of any damage to the Premises and ancillary facilities and
equipment therein caused by Party B, Party B is liable to restore them to their
former state or make reparation for the damages.

 

4.               Upon the expiration of the lease term,
Party B shall return the Premises and ancillary facilities and equipment
therein in good condition (fair wear and tear excepted) to Party A on schedule.
In the event that Party B becomes delinquent in the return of the Premises,
Party B shall pay Party A twice of daily warehouse fee as overdue fine every
day and be liable for losses to Party A arising from the failure of Party B to
return the Premises on time.

 

5.               Party B shall strictly comply with all the
regulations and rules applicable to the leasing area stipulated by Party
A.

 

6.               In the event that Party B wishes to alter
the interior structure, fitting-out or facilities of the Premises, it shall
submit the working scheme to Party A and obtain Party A’s prior written consent
before carrying out the work, which shall be the sole responsibility of Party
B. Unless otherwise agreed to by both parties, upon the termination of the
lease term or early termination of the lease term due to any cause attributable
to Party B, Party A is entitled to choose to exercise one of the following
rights:

 

1)                  Confiscate the fitting-out attached to the
Premises without cost;

 

2)                  Request Party B to restore the Premises
to their former state; or

 

3)                  Demand payment of the expenses for
restoring the Premises to their former state against Party B.

 

4

 

7.               In the event that Party B wishes to
install any equipment, apparatus or machine exceeding the load of electric
meter in the Premises, it shall obtain Party A’s prior consent and notify Party
A and related authorities.

 

8.               Party B shall not occupy any public space
or set up any item on, apply any coating to or make any alteration to the
facades of the Premises or public space without authorization.

 

9.               In the event that Party B wishes to set
up any plaque at any public space in the Center, it shall submit an application
to Party A and carry out the work subject to the uniform planning and consent
of Party A and Party A’s supervision during the work. When Party B moves out of
the Premises, it shall remove such plaque at its own expense subject to Party A’s
prior consent.

 

Article 11                Modification, rescission and termination of the Contract

 

1.               Both parties may modify or terminate this
Contract through consultation.

 

2.               Party B shall have the right to terminate
this Contract during the lease term in the event of any of following acts of
Party A:

 

1)                  Failure to provide the Premises or
failure to provide the Premises meeting the agreed upon conditions, which
seriously affect the use of the Premises; or

2)                  Failure to perform the obligations of
maintenance of the Premises, which seriously affect the use of the Premises.

 

3.               Party A shall have the right to terminate
this Contract during the lease term in the event of any of following acts of
Party B:

 

1)                  Termination of the Contract or the lease
term ahead of time unilaterally;

2)                  Underlet or sublet of the Premises to any
third party without Party A’s prior written consent;

3)                  Alteration of the structure of the
Premises or damage the Premises without Party A’s prior written consent;

4)                  Damage to the Premises or ancillary
facilities and equipment therein and failure to repair such damage within the
reasonable time limit set by Party A;

5)                  Alteration the purpose of lease as
specified herein without Party A’s prior written consent;

6)                  Storage of any dangerous goods or carry
out any illegal activity in the Premises;

7)                  Delinquent in the payment of any sum due
hereunder, which causes serious losses to Party A;

8)                  In arrears with any warehouse fee for
more than 2 months consecutively or 3 months in total; or

9)                  In arrears with any property management
fee, water expense, electric expense, gas expense, air conditioning expense or other
expense for more than 2 months consecutively or 3 months in total.

 

4.               In the event that Party B intends to
extend the lease after the expiration of the lease term, it shall notify Party
A in writing one month before the expiration of the lease term. In case Party A
intends to continue to rent the Premises after the expiration of the lease
term, Party B shall have the preemptive right to lease the Premises under same
conditions. However, Party A shall have the right to appropriately adjust the
warehouse fee subject to the change of consumer price index.

 

5

 

5.               This Contract shall expire automatically
upon the expiration of the lease term.

 

6.               This Contract shall be terminated if this
Contract is unable to be performed due to natural disaster, national policy or
any other types of force majeure.

 

7.               In case any party terminates this Contract
subject to the provision of Paragraph 2 or 3 of Article 11 hereof, it
shall notify the other party in writing and this Contract shall be terminated
upon receipt of such notice by the other party.

 

Article 12                Acceptance of the Premises upon delivery and return of the Premises:

 

1.               Party A and Party B shall jointly
participate in the acceptance of the Premises. Any objection to the
fitting-out, implement or other facilities and equipment shall be put forward
on the site. In case any status thereof is hard to be tested or judged on the
site, either party may present a claim to the other party within 5 working days
of the acceptance.

 

2.               Party B shall return the Premises and ancillary
facilities and equipment therein to Party A upon the expiration of the lease
term. The Premises and ancillary facilities and equipment therein returned by
Party B to Party A shall be in good condition and free of any item of Party B
and shall in no way affect the normal use of the Premises. Party A shall have the
right to dispose of the items left by Party B on the Premises without authorization.
The expense of such disposal shall be paid from the amount earned from the
disposal of such items.

 

Article 13                Exceptions

 

1.               Neither party shall be held responsible
for failure to perform this Contract due to natural disaster or any other types
of Force Majeure or any loss arising there from.

 

2.               Neither party shall be held responsible
for any loss to any party due to recover, reform or demolishment of the
Premises pursuant to national policy.

 

3.               In the event that this Contract is
terminated due to any reason mentioned above, the warehouse fee shall be
calculated according to the actual time of use. In case the termination of
lease happens prior to the end of the month, the warehouse fee for that month
shall be calculated according to the actual days of lease in that month. The
overpayments shall be returned or the deficiencies shall be made up. The
security deposit shall be refunded to Party B after settlement of the account.

 

Article 14                Notice

 

All notices required to
be given hereunder, communications between both parties and notices and demands
in connection with this Contract shall be made in writing. Any mail or fax from
Party A to Party B or from Party B to Party A shall be deemed to have been
served at the time of dispatch. Any registered mail addressed to the party at
its address first set forth above shall be deemed to have been served at the
expiration of 10 days after the same was delivered into the custody of the
postal authorities or if personally delivered, at the time of delivery.

 

Article 15                Settlement of disputes

 

All disputes arising in
connection with this Contract shall be settled by both parties through
consultation. In case no settlement can be reached, either party may bring the
case in dispute to the court at the place where Party A is resided for
litigation.

 

6

 

Article 16     Miscellaneous

 

1.               All the contents of this Contract are
trade secrets. Both parties are liable to keep secret the content of this
Contract.

 

Article 17    For any matter unsettled herein, both
parties may enter into supplementary provisions through consultation. All
supplementary provisions and attachments hereto shall be an integral part of
this Contract and shall have equal binding force as this Contract.

 

Article 18    This Contract shall go into effect after
being duly executed by both parties. This Contract and its attachments shall be
made in four originals, two copies to be held by both parties respective with
equal binding force.

 

Article 19    Any modification, deletion, addition or
alteration to any content of this Contract shall not be valid unless it is
sealed.

 

Article 20    The copy of the business license of
either party affixed with its seal shall be an attachment to this Contract held
by the other party.

 

Attachment:

 

1.               Sketch map of the position of the
Premises, which is marked in red.

2.               Copy of the business license of the other
party.

3.               Responsibility contract for fire safety.

 

Party A (seal): Chengdu
Bonded & Logistics Investment Company Limited

Representative:
[illegible signature]

Deposit Bank: West Zone
Sub-branch, Pixian Branch, Bank of China

Account No.:
841884576228091001

 

Party B (seal): Source
Photonics (Chengdu) Company Limited

Representative:
[illegible signature]

Deposit Bank:

Account No.:

 

Date of Signing: MMDDYY

 

7

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