Document:

exv10w1

 

Exhibit 10.1

AMENDMENT TO

EMPLOYMENT AGREEMENT

     THIS AMENDMENT TO EMPLOYMENT AGREEMENT (the “Amendment”) is between Quovadx, Inc. (the
“Company”) and Harvey A. Wagner (“You” or “Your”) (collectively, the
“Parties”) and is entered into and effective as
of the 29th of August, 2006 and amends your
Employment Agreement with the Company dated October 8, 2004.

     This
Amendment is made in connection with the Company’s strategic
initiatives, announced on or after
August 29, 2006 and in recognition of the importance of Your contributions to the ultimate success
of those initiatives and in consideration of your continued service to the Company and its
affiliates.

AMENDMENT

     NOW, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties agree as follows:

     1. Company’s Post-Termination Obligations. Sections 5A and 5B of the Agreement are
hereby deleted in their entirety and replaced by the following:

     “5A. If Your employment terminates for any reason, then the Company will pay You all
accrued but unpaid vacation, expense reimbursements, wages, and other benefits due to You
under any Company-provided plans, policies, and arrangements. In addition, if, during the
period beginning on the expiration of the Employment Period due to the Company’s failure to
renew and ending on the last day of that fiscal year, Your employment is terminated by You
upon a voluntary resignation or by the Company without Cause (as defined in Section 4E
above, which definition will survive the termination of this Agreement for purposes of this
Section 5A), You will be eligible to receive Your annual bonus for the fiscal year during
which the Employment Period expired, pro-rated to the date of Your termination. The actual
bonus paid pursuant to the preceding sentence (i) may be higher or lower than the pro-rated
Target Bonus for over- or under-achievement of the Committee Performance Criteria, as
determined by the Committee consistent with its practices for other Company executive
officers, and (ii) if any, will be paid on the same date bonuses are paid to other Company
executive officers but in no event later than 75 days after the end of the calendar year in
which the termination occurs.

     5B. In addition to the payments and benefits provided under Section 5A, if Your
employment is terminated by the Company without Cause or by You for Good Reason during the
Employment Period, then, subject to Your compliance with the provisions of Section 7 and You
executing and not revoking a separation agreement and general release of claims in a form
satisfactory to the Company, the Company will (i) continue to pay You Your Base Salary
through the longer of (a) the period ending on the date that would have been the last day of
the Employment Period (assuming non-renewal) had Your employment not terminated, or (b) for
a period of twelve (12) months following Your termination date (in either case, the
“Restricted Period” in the event You are entitled to benefits under this Section 5B), (ii)
pay You a lump sum payment in an amount equal to 100% of Your Target Bonus amount for the
year in which the termination occurs, to be paid on the date bonuses are paid to other
executive officers of the Company, but in no event later than 75 days after the end of the
calendar year in which the termination occurs, and (iii) reimburse You for COBRA
continuation coverage premiums to continue medical benefits for You and Your eligible
dependents for the Restricted Period (but, if further limited by applicable law, the maximum
permissible period) or, if earlier, until You

 

 

become eligible for substantially similar
benefits from another employer, provided You validly elect to continue Your medical benefits
in accordance with applicable law.”

     2. Change of Control.

          a. Severance. Section 6A of the Agreement is hereby deleted in its entirety and
replaced by the following:

     “6A. Severance. If, within three (3) months preceding and twelve (12) months
following a Change of Control (the “Protection Period”) and during the Employment
Period, the Company or the successor entity to the Company terminates Your employment
without Cause (as defined in Section 6C below) or You resign for Good Reason (as defined in
Section 4F above), then, subject to Your compliance with the provisions of Section 7 and You
executing and not revoking a separation agreement and general release of claims in a form
satisfactory to the Company, You shall receive the following separation payments and/or
benefits: (i) continued Base Salary for the longer of (a) the period ending on the date
that would have been the last day of the Employment Period (assuming non-renewal) had Your
employment not terminated, or (b) for a period of eighteen (18) months following Your
termination date (in either case, the “Restricted Period” in the event You are
entitled to benefits under this Section 6A), (ii) a lump sum payment equal to a pro-rated
amount of Your Target Bonus for the year in which the termination occurs, to be paid on the
date bonuses are paid to other executive officers of the Company, but in no event later than
75 days after the end of the calendar year in which the termination occurs, (iii) a lump sum
payment in an amount equal to 150% of Your Target Bonus amount for the year in which the
termination occurs, to be paid on the date bonuses are paid to other executive officers, but
in no event later than 75 days after the end of the calendar year in which the termination
occurs, (iv) reimbursement for COBRA continuation coverage premiums to continue medical
benefits for You and Your eligible dependents for the Restricted Period (but, if further
limited by applicable law, the maximum permissible period) or, if earlier, until You become
eligible for substantially similar benefits from another employer, provided You validly
elect to continue Your medical benefits in accordance with applicable law, and (v)
outplacement services during the Restricted Period. The payments and benefits set forth in
this Section 6 shall be provided to You in lieu of any payments and benefits to which You
may be entitled to receive under Section 5B above. Notwithstanding anything in this Section
6 to the contrary, if (i) the Company enters into agreements with other Company executive
officers that provide for payments or benefits upon a termination following a Change of
Control, and (ii) substantially all of those agreements provide enhanced Change of Control
severance for a period longer than the Protection Period, then the Protection Period
automatically shall be extended to match such longer period.”

          b. Definition of Change of Control. Section 6B of the Agreement is hereby deleted in
its entirety and replaced by the following:

          “6B. Definition of Change of Control. For purposes of this Agreement, “Change of
Control” means the occurrence of any of the following:

	 	(i)	 	Any “person” (as such term is used in Sections 13(d) and 14(d)
of the Securities Exchange Act of 1934, as amended) becomes the “beneficial
owner” (as defined in Rule 13d-3 of said Act), directly or indirectly, of
securities of the Company representing fifty percent (50%) or more of the
total voting power represented by the Company’s then outstanding voting
securities; or

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	 	(ii)	 	The consummation of the sale or disposition by the Company
(or series of sales or dispositions) of
all or substantially all of the Company’s assets; or
	 
	 	(iii)	 	The consummation of the sale or disposition by the Company of
(or series of sales or dispositions) two of the Company’s divisions;
	 
	 	(iv)	 	The consummation of a merger or consolidation of the Company,
with any other corporation, other than a merger or consolidation which would
result in the voting securities of the Company outstanding immediately prior
thereto continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity or its parent) at
least fifty percent (50%) of the total voting power represented by the voting
securities of the Company, or such surviving entity or its parent outstanding
immediately after such merger or consolidation; or

	 	(v)	 	A change in the composition of the Board, as a
result of which fewer than a majority of the directors are Incumbent
Directors. “Incumbent Directors” shall mean directors who either (a)
are directors of the Company, as applicable, as of the date hereof, or
(b) are elected, or nominated for election, to the Board with the
affirmative votes of at least a majority of those directors whose
election or nomination was not in connection with any transaction
described in subsections (i), (ii) or (iii) or in connection with an
actual or threatened proxy contest relating to the election of
directors of the Company.”

     3. Section 409A. The following is hereby added to the Agreement as Section 6.1 of the
Agreement:

     “6.1 Section 409A. Anything in this Agreement to the contrary notwithstanding,
if (A) on the date of termination of Executive’s employment with the Company or a
Subsidiary, any of the Company’s stock is publicly traded on an established securities
market or otherwise (within the meaning of Section 409A(a)(2)(B)(i) of the Internal Revenue
Code, as amended (the “Code”)) and (B) as a result of such termination, the Executive would
receive any payment that, absent the application of this Section 6.1, would be subject to
interest and additional tax imposed pursuant to Section 409A(a) of the Code as a result of
the application of Section 409A(a)(2)(B)(i) of the Code, then no such payment shall be payable
prior to the date that is the earliest of (1) 6 months after the Executive’s termination
date, (2) the Executive’s death or (3) such other date as will cause such payment not to be
subject to such interest and additional tax.

     It is the intention of the parties that payments or benefits payable under this
Agreement not be subject to the additional tax imposed pursuant to
Section 409A(a) of the Code.
To the extent such potential payments or benefits could become subject to such Section, the
parties shall cooperate to amend this Agreement with the goal of giving the Executive the
economic benefits described herein in a manner that does not result in such tax being
imposed.”

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     4. Notice. Section 21 of the Agreement is hereby deleted in its entirety and replaced
by the following:

     “21. Notice. Whenever any notice is required, it shall be given in writing
addressed as follows:

	 	 	 	 	 
	 

	 	To the Company:
	 	Attn: Chairman of the Compensation Committee
	 

	 	 	 	7600 E. Orchard Road, Suite 300-S
	 

	 	 	 	Greenwood Village, CO 80111
	 
	 	 	 	 
	 

	 	To the Executive:
	 	at the last residential address known by the Company

     Notice shall be deemed given and effective three (3) days after the deposit in the U.S.
mail of a writing addressed as above and sent first class mail, certified, return receipt
requested, or when actually received. Either Party may change the address to which notices
shall be delivered or mailed by notifying the other Party of such change in accordance with
this Section.”

     5. Governing Law. This Amendment shall be governed by and construed and enforced in
accordance with the laws of the State of Colorado, its rules of conflict of laws notwithstanding.

     6. Terms. Capitalized terms not defined herein shall have the meaning ascribed to
them in the Employment Agreement.

     7. Effect of Amendment. Except as modified by this Amendment, the Agreement shall
remain in full force and effect. In the event of any conflict between this Amendment and the
Agreement, this Amendment shall control.

     8. Counterparts and Telecopies of Facsimiles. This Amendment may be executed in
counterparts, or by copies transmitted by telecopier or facsimile, all of which shall be given the
same force and effect as the original.

     9. AFFIRMATION. YOU ACKNOWLEDGE THAT YOU HAVE CAREFULLY READ THIS AMENDMENT, YOU KNOW
AND FULLY UNDERSTAND ITS TERMS AND CONDITIONS, AND YOU HAVE HAD THE OPPORTUNITY TO CONSULT AN
ATTORNEY OF YOUR CHOOSING AND ASK THE COMPANY ANY QUESTIONS YOU MAY HAVE HAD PRIOR TO SIGNING THIS
AMENDMENT.

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     IN WITNESS WHEREOF, the Parties hereto have executed this Amendment as of the day and year
first above written.

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	QUOVADX, INC.:	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	          /s/ Charles J. Roesslein	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Charles J. Roesslein	 	 
	 

	 	 	 	Compensation Committee Chairman	 	 
	 
	 	 	 	 	 	 
	 	 	HARVEY A. WAGNER:	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	           /s/ Harvey A. Wagner	 	 
	 	 	 	 	 

 Page 5 of 5exv10w2

 

Exhibit 10.2

AMENDMENT TO

EMPLOYMENT AGREEMENT

     THIS AMENDMENT TO EMPLOYMENT AGREEMENT (the “Amendment”) is between Quovadx, Inc. (the
“Company”) and MATTHEW T. PULLAM (“You” or “Your”) (collectively, the
“Parties”) and is entered into and effective as
of the 29th of August, 2006 and amends your
Employment Agreement with the Company dated August 15, 2005.

     This Amendment is made in connection with the Company’s strategic initiatives, announced on or
after August 29, 2006 and in recognition of the importance of Your contributions to the ultimate
success of those initiatives and in consideration of your continued service to the Company and its
affiliates.

AMENDMENT

     NOW, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties agree as follows:

     1. Termination by Company Without Cause. Section 5B of the Agreement is hereby
deleted in its entirety and replaced by the following:

     “5B. In addition to the payments and benefits provided under Section 5A, if Your
employment is terminated by the Company without Cause during the Employment Period, then,
subject to Your compliance with the provisions of Section 8 and You executing and not
revoking a separation agreement and general release of claims in a form satisfactory to the
Company, the Company will (i) continue to pay You Your Base Salary through the period of 12
months following Your termination date (the “Restricted Period” in the event You are
entitled to benefits under this Section 5B), (ii) pay You a lump sum payment equal to a
pro-rated amount of Your Target Bonus for the year in which the termination occurs, to be
paid on the date bonuses are paid to other executive officers of the Company, but in no
event later than 75 days after the end of the calendar year in which the termination occurs,
and (iii) reimburse You for COBRA continuation coverage premiums to continue medical
benefits for You and Your eligible dependents for the Restricted Period (but, if further
limited by applicable law, the maximum permissible period) or, if earlier, until You become
eligible for substantially similar benefits from another employer, provided You validly
elect to continue Your medical benefits in accordance with applicable law.”

     2. Change of Control.

          a. Severance. Section 6A of the Agreement is hereby deleted in its entirety and
replaced by the following:

     “6A. Severance. If, within three (3) months preceding and twelve (12) months
following a Change of Control (the “Protection Period”) and during the Employment
Period, the Company or the successor entity to the Company terminates Your employment
without Cause or You resign for Good Reason, then, subject to Your compliance with the
provisions of Section 8 and You executing and not revoking a separation agreement and
general release of claims in a form satisfactory to the Company, You shall receive (in
addition to the payments and benefits provided under Section 5A) the following separation
payments and/or benefits: (i) continued Base Salary for a period of one year following Your
termination date (the “Restricted Period” in the event You are entitled to benefits
under this Section 6A), (ii) pay You a lump sum payment equal to a pro-rated amount of Your
Target Bonus for the year in which the termination occurs, to be paid on the date bonuses
are paid to other executive officers of the Company, but in no event later

 

 

than 75 days
after the end of the calendar year in which the termination occurs, (iii) pay You an
additional lump sum payment equal to 100% of Your Target Bonus for the year in which the
termination occurs, to be paid on the date bonuses are paid to other executive officers of
the Company, but in no event later than 75 days after the end of the calendar year in which
the termination occurs, (iv) reimbursement for COBRA continuation coverage premiums to
continue medical benefits for You and Your eligible dependents for the Restricted Period
(but, if further limited by applicable law, the maximum permissible period) or, if earlier,
until You become eligible for substantially similar benefits from another employer, provided
You validly elect to continue Your medical benefits in accordance with applicable law and
(v) outplacement services during the Restricted Period. The payments and benefits set forth
in this Section 6A shall be provided to You in lieu of any payments and benefits to which
You may be entitled to receive under Section 5B above.”

          b. Definition of Change of Control. Section 6B of the Agreement is hereby deleted in
its entirety and replaced by the following:

          “6B. For purposes of this Agreement, “Change of Control” means the occurrence of any of the
following:

	 	(i)	 	Any “person” (as such term is used in Sections 13(d) and 14(d)
of the Securities Exchange Act of 1934, as amended) becomes the “beneficial
owner” (as defined in Rule 13d-3 of said Act), directly or indirectly, of
securities of the Company representing fifty percent (50%) or more of the
total voting power represented by the Company’s then outstanding voting
securities; or
	 
	 	(ii)	 	The consummation of the sale or disposition by the Company (or
series of sales or dispositions) of all or substantially all of the Company’s
assets;
	 
	 	(iii)	 	The consummation of a merger or consolidation of the Company,
with any other corporation, other than a merger or consolidation which would
result in the voting securities of the Company outstanding immediately prior
thereto continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity or its parent) at
least fifty percent (50%) of the total voting power represented by the voting
securities of the Company, or such surviving entity or its parent outstanding
immediately after such merger or consolidation; or
	 
	 	(iv)	 	The consummation of the sale or disposition by the Company (or
series of sales or dispositions) of two of the Company’s divisions; or
	 
	 	(v)	 	A change in the composition of the Company’s Board of Directors
(the “Board”), as a result of which fewer than a majority of the directors are
Incumbent Directors. “Incumbent Directors” shall mean directors who either (a)
are directors of the Company, as applicable, as of the date hereof, or (b) are
elected, or nominated for election, to the Board with the affirmative votes of
at least a majority of those directors whose election or nomination was not in
connection with any transaction described in subsections (i), (ii) or (iii) or
in connection with an actual or threatened proxy contest relating to the
election of directors of the Company.”

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     3. Section 409A. Section 7 of the Agreement is hereby deleted in its entirety and
replaced by the following:

     “7. Section
409A. Anything in this Agreement to the contrary notwithstanding, if (A) on the date of
termination of Executive’s employment with the Company or a Subsidiary, any of the Company’s
stock is publicly traded on an established securities market or otherwise (within the
meaning of Section 409A(a)(2)(B)(i) of the Internal Revenue Code, as amended (the “Code”))
and (B) as a result of such termination, the Executive would receive any payment that,
absent the application of this Section 7, would be subject to interest and additional tax
imposed pursuant to Section 409A(a) of the Code as a result of the application of Section
409A(a)(2)(B)(i) of the Code, then no such payment shall be payable prior to the date that is
the earliest of (1) 6 months after the Executive’s termination date, (2) the Executive’s
death or (3) such other date as will cause such payment not to be subject to such interest
and additional tax.

     It is the intention of the parties that payments or benefits payable under this
Agreement not be subject to the additional tax imposed pursuant to
Section 409A(a) of the Code.
To the extent such potential payments or benefits could become subject to such Section, the
parties shall cooperate to amend this Agreement with the goal of giving the Executive the
economic benefits described herein in a manner that does not result in such tax being
imposed.”

     4. Notice. Section 21 of the Agreement is hereby deleted in its entirety and replaced
by the following:

     “21. Notice. Whenever any notice is required, it shall be given in writing
addressed as follows:

	 	 	 	 	 
	 

	 	To the Company:
	 	Attn: Chief Executive Officer
	 

	 	 	 	7600 E. Orchard Road, Suite 300-S
	 

	 	 	 	Greenwood Village, CO 80111
	 
	 	 	 	 
	 

	 	To the Executive:
	 	at the last residential address known by the Company

     Notice shall be deemed given and effective three (3) days after the deposit in the U.S.
mail of a writing addressed as above and sent first class mail, certified, return receipt
requested, or when actually received. Either Party may change the address to which notices
shall be delivered or mailed by notifying the other Party of such change in accordance with
this Section.”

     5. Governing Law. This Amendment shall be governed by and construed and enforced in
accordance with the laws of the State of Colorado, its rules of conflict of laws notwithstanding.

     6. Terms. Capitalized terms not defined herein shall have the meaning ascribed to
them in the Employment Agreement.

     7. Effect of Amendment. Except as modified by this Amendment, the Agreement shall
remain in full force and effect. In the event of any conflict between this Amendment and the
Agreement, this Amendment shall control.

     8. Counterparts and Telecopies of Facsimiles. This Amendment may be executed in
counterparts, or by copies transmitted by telecopier or facsimile, all of which shall be given the
same force and effect as the original.

     9. AFFIRMATION. YOU ACKNOWLEDGE THAT YOU HAVE CAREFULLY READ THIS AMENDMENT, YOU KNOW
AND FULLY UNDERSTAND ITS TERMS AND CONDITIONS, AND YOU HAVE HAD THE OPPORTUNITY TO CONSULT AN
ATTORNEY OF YOUR CHOOSING AND ASK THE COMPANY ANY QUESTIONS YOU MAY HAVE HAD PRIOR TO SIGNING THIS
AMENDMENT.

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     IN WITNESS WHEREOF, the Parties hereto have executed this Amendment as of the day and year
first above written.

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	QUOVADX, INC.:	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	           /s/ Harvey A. Wagner	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Harvey A. Wagner	 	 
	 

	 	 	 	President and CEO	 	 
	 
	 	 	 	 	 	 
	 	 	MATTHEW T. PULLAM:	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	          /s/ Matthew T. Pullam	 	 
	 	 	 	 	 

 Page 4 of 4

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