Document:

Exhibit

Exhibit 10.1

	
		
	SETTLEMENT, RELEASE AND OTHER COVENANTS AGREEMENT

	INSTRUMENTO DE TRANSAÇÃO, QUITAÇÃO E OUTRAS AVENÇAS

	This Settlement, Release and Other Covenants Agreement (“Agreement”) is entered into by and among the following parties:
	Este Instrumento de Transação, Quitação e Outras Avenças (“Acordo”) é celebrado por e entre as seguintes partes:

	 
	 

	On one side,
	De um lado,

	 
	 

	I.   NEXTEL TELECOMUNICAÇÕES LTDA., a limited liability company organized and existing under the laws of the Federative Republic of Brazil, with head office in the city of São Paulo, State of São Paulo, Brazil, at Avenida das Nações Unidas, 14171, 27th floor, ZIP Code 04794-000, enrolled with the CNPJ/MF under no. 66.970.229/0001-67, herein represented in accordance with its articles of association (hereinafter referred to as “Company”);
	I.   NEXTEL TELECOMUNICAÇÕES LTDA., uma sociedade empresária limitada constituída e validamente existente de acordo com as leis da República Federativa do Brasil, com sede na cidade de São Paulo, Estado de São Paulo, Brasil, na Avenida das Nações Unidas, 14171, 27o andar, CEP 04794-000, inscrita no CNPJ/MF sob o no 66.970.229/0001-67, neste ato, representada na forma de seu contrato social (doravante designada como “Sociedade”);

	 
	 

	and, on the other side,
	e, de outro lado,

	 
	 

	II.   FRANCISCO TOSTA VALIM FILHO,  bearer of Identity Card No. [*], enrolled with CPF/MF under no. [*], resident and domiciled at [*], in the city of São Paulo, State of São Paulo, Brazil, Zip Code [*], (herein referred to as “Francisco”).
	II.   FRANCISCO TOSTA VALIM FILHO, portador da cédula de identidade RG no [*] e inscrito no CPF/MF no [*], residente e domiciliado na [*], na cidade de São Paulo, Estado de São Paulo, Brasil, CEP [*] (doravante designado como “Francisco”).

	 
	 

	The Company and Francisco, together are hereinafter referred to as “Parties”, and each of them, separately, as a “Party”.
	A Sociedade e Francisco, em conjunto são doravante designados como “Partes”, e cada um deles, individualmente, como “Parte”.

	 
	 

	RECITALS
	PREÂMBULO

	 
	 

	
		
	(A)    WHEREAS Francisco entered into a written Employment Agreement with the Company on August 25, 2015 and was hired as an employee of the Company on such date (“Employment Agreement”) to hold a corporate position as an officer of the Company and as part of his activity to concurrently hold the corporate officer positions in the Company’s controlling company and each of the Company’s subsidiaries: Nextel Telecomunicações S.A. (CNPJ No. 00.169.369/0001-22), Nextel Telecomunicações de Longa Distância Ltda. (CNPJ No. 07.053.718/0001-95), Sunbird Participações Ltda. (CNPJ No. 03.749.039/0001-02) and Sunbird Telecomunicações Ltda. (CNPJ 04.221.536/0001-98), all herein referred as the Company or Companies, as it may apply. 
	(A)    CONSIDERANDO QUE Francisco celebrou contrato escrito de trabalho em 25 de agosto de 2015 e foi contratado como empregado nesta data pela Sociedade (“Contrato de Trabalho”), para exercer o cargo de diretor estatutário na Sociedade e também, como parte de suas atribuições, simultaneamente o cargo de diretor estatutário da controladora da Sociedade e cada uma das subsidiárias da Sociedade: Nextel Telecomunicações S.A. (CNPJ no 00.169.369/0001-22), Nextel Telecomunicações de Longa Distância Ltda. (CNPJ no 07.053.718/0001-95), Sunbird Participações Ltda. (CNPJ No. 03.749.039/0001-02) e Sunbird Telecomunicações Ltda. (CNPJ no 04.221.536/0001-98), todas referidas como Sociedade ou Sociedades, conforme seja aplicável.

	 
	 

	(B)    WHEREAS the employment relationship was terminated without cause by the Company as per the termination letter dated April 24, 2017 (“Termination Letter”) (such date, the “Effective Date of Termination”), upon mutual understanding between the Parties for such termination to take place; 
	(B)    CONSIDERANDO QUE a relação de trabalho foi rescindida sem justa causa pela Sociedade conforme carta de rescisão datada de 24 de abril de 2017 (“Carta de Rescisão”) (referida data, a “Data Efetiva da Rescisão”), mediante mútuo entendimento entre as Partes para a ocorrência dessa rescisão;

	 
	 

	(C)    WHEREAS the Company has regularly and timely complied with all of its obligations towards Francisco; 
	(C)    CONSIDERANDO QUE a Sociedade tem cumprido, regularmente e pontualmente, com todas as suas obrigações concernentes a Francisco; 

	 
	 

	NOW THEREFORE, considering the fulfillment of the aforementioned conditions and the mutual premises set forth herein, the Parties, duly assisted by their respective lawyers, agree to enter into this Agreement, in accordance with the following terms and conditions:
	POR CONSEGUINTE, em virtude do cumprimento das condições acima mencionadas e das premissas mútuas aqui estabelecidas, as Partes, devidamente assistidas por seus respectivos advogados, concordam em celebrar este Acordo, de acordo com os seguintes termos e condições: 

	 
	 

	CLAUSE 1. TERMINATION.
	CLÁUSULA 1. RESCISÃO.

	 
	 

	1.1.   This Agreement will be governed by Article 840 of the Brazilian Civil Code, and encompasses all rights, obligations and any controversial issue resulting from the Employment Agreement. 
	1.1.   Este Acordo será regido pelo artigo 840 do Código Civil Brasileiro, e contempla todos os direitos, obrigações e qualquer aspecto controverso decorrentes do Contrato de Trabalho. 

	 
	 

	
		
	1.2.   For purposes of this Agreement, the effective date of the full and irrevocable termination of the Employment Agreement is the Effective Date of Termination (as defined above), which complies with the projection of the prior notice period for all effects in accordance with Brazilian labor laws in force, as well as every and all rights and obligations of the Parties relating to the Employment Agreement or any other document, contract, settlement, covenant or undertaking executed or undertaken by and among the Parties related to the Employment Agreement, except for the surviving clauses below. 
	1.2.   Para os fins deste Acordo, a data efetiva da completa e irrevogável rescisão do Contrato de Trabalho é a Data Efetiva da Rescisão (conforme definido acima), cumprindo com a projeção do período de aviso prévio para todos os efeitos conforme legislação trabalhista vigente, bem como todos e quaisquer direitos e obrigações das Partes relacionadas ao Contrato de Trabalho ou qualquer outro documento, contrato, acordo, obrigação ou compromisso celebrado ou assumido por e entre as Partes relacionadas ao Contrato de Trabalho, exceto as cláusulas de sobrevivência abaixo.

	 
	 

	CLAUSE 2. PAYMENT DUE.
	CLÁUSULA 2. PAGAMENTO DEVIDO.

	 
	 

	2.1. Mandatory Severance Pay and Legal Indemnities. In view of the termination of the Employment Agreement, the Company paid to Francisco, on May 5th 2017, the mandatory legal severance payment in the total gross amount of R$ 604,232.04 (six hundred and four thousand, two hundred and thirty two reais and four cents) (the “Severance Pay”), as described in Annex I. 
	2.1. Pagamento das Verbas Rescisórias e Indenizatórias Legais. Em razão da rescisão do Contrato de Trabalho, a Sociedade pagou a Francisco, em 05 de maio de 2017, as verbas rescisórias no valor bruto total de R$ 604.232,04 (seiscentos e quatro mil, duzentos e trinta e dois reais e quatro centavos) (as “Verbas da Rescisão”), conforme descrito no Anexo I.

	 
	 

	2.2. Payment of Quarterly Bonus. The Company will pay to Francisco the quarterly bonus in the total gross amount of R$ 1,200,000.00 (one million, two hundred thousand Reais) (“Quarterly Bonus”) on Execution Date of Agreement as defined in Clause 3.1 below.

	2.2. Pagamento de Bônus Trimestral. A Sociedade pagará a Francisco o bônus trimestral no valor bruto total de R$ 1.200.000,00 (um milhão e duzentos mil reais) (“Bônus Trimestral”) na Data de Assinatura do Acordo conforme definido na Cláusula 3.1 abaixo.

	2.3. The payments indicated in Clause 2.1 (except for the FGTS which was paid according to Clause 2.4) and 2.2 will be made by means of wire transfer (TED) to the following bank account:
	2.3. Os pagamentos indicados nas Cláusulas 2.1 (exceto pelo FGTS que foi pago nos termos da Cláusula 2.4) e 2.2 serão efetuados mediante a transferência eletrônica de recursos imediatamente disponíveis (TED) para a seguinte conta bancária:

	Account holder: [*]
	Titular da conta: [*]

	CPF/MF no.: [*]
	CPF/MF no: [*]

	Bank: [*]
	Banco: [*]

	Branch no.: [*]
	Agência no: [*]

	Checking Account no.: [*]
	Conta Corrente no: [*]

	 
	 

	
		
	2.3.1.   The effective bank transfer of the Severance Pay and the Quarterly Bonus shall be deemed as a full, general, irrevocable and irreversible receipt and release by Francisco of such payments by the Company, and the Parties agree that the confirmation by the bank of such transfers shall constitute sufficient evidence of payment and release of such obligations.  
	2.3.1.   A efetiva transferência bancária das Verbas Rescisórias e do Bônus Trimestral deverá ser considerada como a mais plena, geral, irrevogável e irreversível quitação e recibo por Francisco no tocante aos respectivos pagamentos devidos pela Sociedade, de modo que as Partes concordam que a confirmação pelo banco de tais transferências deverá constituir evidência suficiente de seu pagamento e quitação.

	 
	 

	2.4.   The Company has deposited in Francisco’s FGTS bank account the amounts corresponding to the FGTS due in connection with Francisco’s termination in accordance with the law, including the fine corresponding to 40% of FGTS. 
	2.4.   A Sociedade depositou na conta vinculada do FGTS de Francisco os valores de FGTS incidentes de acordo com a rescisão nos termos da lei, incluindo a multa de 40% do FGTS.

	 
	 

	2.5.   Costs and Expenses. Francisco hereby acknowledges and agrees that there are no expenses incurred by Francisco in the development of his activities in the Company that are pending reimbursement by the Company.
	2.5.   Custos e Despesas. Francisco, neste ato, reconhece e acorda que não há qualquer despesa incorrida por ele na consecução de suas atividades na Sociedade que ainda esteja pendente de reembolso pela Sociedade.

	 
	 

	2.6.   Legal Retentions. Under Brazilian applicable law, the Company is authorized to make all necessary legal deductions and/or retentions with respect to the payments owed to Francisco under this Clause 2, including applicable taxes.
	2.6.   Retenções Legais. De acordo com a legislação brasileira aplicável, a Sociedade está autorizada a realizar todas as deduções legais e/ou retenções necessárias relativas aos pagamentos devidos a Francisco nos termos desta Cláusula 2, incluindo os tributos incidentes.

	 
	 

	CLAUSE 3. ADDITIONAL BENEFITS AND PAYMENTS FOR SETTLEMENT AND RELEASE AND OTHER COVENANTS UNDER THIS AGREEMENT.
	CLÁUSULA 3. PAGAMENTOS E BENEFÍCIOS ADICIONAIS PARA FINS DE TRANSAÇÃO E QUITAÇÃO E OUTRAS AVENÇAS MEDIANTE ESTE ACORDO.

	 
	 

	3.1.   Provided that this Agreement is signed by both Parties and their respective lawyers (“Execution Date of Agreement”), the Company agrees to provide Francisco with the following benefits: 

	3.1.   Desde que este Acordo seja assinado por ambas as Partes e pelos seus respectivos advogados (“Data da Assinatura do Acordo”), a Sociedade concorda conceder ao Francisco os seguintes benefícios: 

	
		
	(a)    Indemnification of a gross amount of R$ 7,087,838 (seven million, eighty seven thousand, eight hundred and thirty eight Reais), less the gross amount set forth in Clause 2.1 above. The gross outstanding amount will be paid by means of a wire transfer (TED) to Francisco’s bank account mentioned above on the Execution Date of Agreement; and

	(a)    Indenização no valor bruto de R$ 7.087.838,00 (sete milhões, oitenta e sete mil, oitocentos e trinta e oito reais), descontado do valor bruto mencionado na Cláusula 2.1 acima. O valor bruto remanescente será pago por meio de transferência eletrônica de recursos imediatamente disponíveis (TED), para a conta bancária de Francisco mencionada acima, na Data da Assinatura do Acordo; e 

	(b)    Potential indemnification of a gross amount of R$ 7,087,837 (seven million, eighty seven thousand, eight hundred and thirty seven Reais) due in the event of a closing of any transaction involving directly or indirectly the change of control of the Company (for purposes of this Clause, there will be change of control in the event of (i) a sale or transfer, directly or indirectly, of more than 50% of the voting equity interest of the Company, including by means of a corporate reorganization, such as merger, acquisition or incorporation involving the Company that results on the transfer of control of the Company to a third party; or (ii) a sale of substantially all of the Company’s assets)  (“Change of Control Transaction”), provided that the signing of the binding agreement(s) related to such Change of Control Transaction occurs within one (1) year from the Execution Date of Agreement. The payment of the indemnification set forth in this Clause 3.1(b) will be made by the Company to Francisco within five (5) days from the closing date of the Change of Control Transaction, regardless of the time it takes from the signing to the closing of the Change of Control Transaction. For the avoidance of doubts, if within such period of one (1) year from the Execution Date of Agreement, no binding agreement regarding a Change of Control Transaction is signed, for any reason and as long as no act is proven to have been taken by the Company for the sole purpose of avoiding the right of Francisco provided in this Clause 3.1(b), no indemnification set forth in this Clause 3.1(b) will be due to Francisco.
	(b)    Possível indenização no valor bruto de R$ 7.087.837,00 (sete milhões, oitenta e sete mil, oitocentos e trinta e sete Reais), devida na hipótese de fechamento de uma transação envolvendo mudança, direta ou indireta, de controle da Sociedade (para fins dessa cláusula, haverá mudança de controle nas hipóteses de (i) alienação ou transferência, direta ou indiretamente, de mais de 50% da participação societária votante da Sociedade, incluindo por meio de operações de reorganização societária, tais como fusão, aquisição ou incorporação envolvendo a Sociedade que importe na transferência do controle da Sociedade que resulte em transferência de controle da Sociedade para terceiros; ou (ii) alienação substancial de todos os ativos da Sociedade) (“Transação de Mudança de Controle”), desde que a assinatura do(s) documento(s) vinculante(s) referente(s) a tal Transação de Mudança de Controle ocorrer dentro do prazo de 1 (um) ano contado da Data de Assinatura do Acordo. O pagamento da indenização prevista nesta Cláusula 3.1(b) será efetuado pela Sociedade ao Francisco no prazo de até 5 (cinco) dias contados da data do fechamento da Transação de Mudança de Controle, independentemente do tempo que leve desde a assinatura até o fechamento da Transação de Mudança de Controle. Para fins de esclarecimento, se dentro do referido prazo de 1 (um) ano contado da Data de Assinatura do Acordo, nenhum documento vinculante tendo por objeto uma Transação de Mudança de Controle tenha sido assinado, por qualquer razão e desde que nenhum ato seja comprovadamente praticado pela Sociedade com o propósito exclusivo de obstar o direito de Francisco previsto nesta Cláusula 3.1(b), nenhuma indenização prevista nesta Cláusula 3.1(b) será devida ao Francisco.

	 
	 

	
		
	3.1.1. In relation to items (a) and (b) above, the Company will make deductions of income tax and other contributions as per the applicable law.
	3.1.1. Em relação aos itens (a) e (b) acima, a Sociedade fará as deduções de imposto de renda e outras contribuições conforme lei aplicável. 

	CLAUSE 4. CONFIDENTIALITY AND OTHER COVENANTS
	CLÁUSULA 4. CONFIDENCIALIDADE E OUTRAS AVENÇAS

	 
	 

	4.1.    For one (1) year from the Effective Date of Termination, Francisco shall not use, disclose or otherwise reveal confidential information of the Companies to which he had access as a result of the performance of his activities (“Confidential Information”).

	4.1.   Pelo período de um (1) ano a contar da Data Efetiva da Rescisão, Francisco se compromete a não utilizar, divulgar ou de qualquer outra forma revelar informações confidenciais das Sociedades a que tenha tido acesso no desenvolvimento de suas atividades (“Informações Confidenciais”).

	4.2.    Confidential Information, for the purpose of this Agreement, includes, without limitation, employees and employees ́ compensation lists, acquisition plans, pricing policies, working and operational methods, commercial strategies, businesses and market strategies, advertisement and marketing plans, commercial, industrial and business secrets, technologies, know-how, formulas, projects, designs, models, sketches, drafts, plans, patents, computer programming techniques, computer programs, prices, lists of suppliers and clients, performance, profits, costs, sales, financial reports, market share and special operations, or any other confidential information relating to the business and operations of the Companies or of any its affiliates to which Francisco had access as a result of the performance of his activities.
	4.2. Informações Confidenciais, para os fins deste Acordo, incluem, mas não se limitam, listas de empregados e remunerações, planos de aquisição, políticas de preços, métodos de trabalho e operações, estratégias comerciais, estratégias de negócios e mercado, planos de propaganda e marketing, segredos comerciais, industriais e de negócios, tecnologias, know-how, fórmulas, projetos, designs, modelos, desenhos, esboços, planos, patentes, técnicas de programação de computador, programas de computador, preços, listas de fornecedores e de clientes, desempenho, lucro, custos, vendas, relatórios financeiros, participações de mercado e operações especiais, ou qualquer outra informação confidencial relativa aos negócios e operações das Sociedades ou de qualquer de suas afiliadas a qual Francisco tenha tido acesso no desenvolvimento de suas atividades profissionais.

	 
	 

	
		
	4.3.    In the event that Francisco is requested by virtue of law or is required by governmental authorities, for any reason whatsoever, to disclose any Confidential Information, he must immediately notify the Company about the requested disclosure so that the Company can take any and all measures that it deems necessary to (i) avoid the disclosure of the Confidential Information; or (ii) instruct Francisco as to how the Confidential Information should be disclosed, provided that such measures do not result in any violation of the law or governmental authorities’ order. If Francisco discloses Confidential Information by virtue of law or governmental authorities’ order, such disclosure shall not be considered a breach of the commitments of the Parties pursuant to this Clause 4, even if it could adversely affect the Company.  Francisco undertakes to take any and all possible action to cooperate with the Company to keep confidential the Confidential Information.  The actions to be taken by Francisco include, but are not limited to, requesting to the relevant judicial or administrative authorities confidential treatment to the Confidential Information. Any and all expenses for measures deemed necessary by the parties in connection with this Clause 4.3 will be paid by the Company. 

	4.3.    Caso Francisco venha a ser obrigado por força de lei ou venha a ser requerido por autoridades governamentais, por qualquer que seja o motivo, a divulgar quaisquer Informações Confidenciais, deverá imediatamente notificar a Sociedade sobre o fato para que esta possa, então, deliberar sobre as medidas que julgue necessárias a fim de: (i) evitar a divulgação das Informações Confidenciais; ou (ii) instruir Francisco sobre o modo como as Informações Confidenciais devem ser divulgadas, desde que tais medidas não impliquem em violação à determinação legal ou ordem das autoridades governamentais. Caso Francisco divulgue Informações Confidenciais por ordem legal ou determinação de autoridades governamentais, tal divulgação não deve ser considerada como uma violação dos compromissos das Partes em razão desta Cláusula 4, mesmo que isso possa afetar negativamente a Sociedade. Francisco se compromete a tomar todas e quaisquer medidas possíveis para cooperar com a Sociedade para manter confidenciais as Informações Confidenciais.  As medidas a serem tomadas pelo Francisco incluem, exemplificativamente, o pedido às autoridades judiciais ou administrativas relevantes do tratamento confidencial das Informações Confidenciais. Toda e quaisquer despesas relativas às medidas consideradas necessárias pelas Partes em referência a esta Cláusula 4.3 serão arcadas pela Sociedade.

	 
	 

	4.4. Francisco represents and warrants under penalty of law that he has returned any and all material containing Confidential Information.

	4.4. Francisco declara e garante sob as penas da lei que ele devolveu qualquer e todo material contendo Informações Confidenciais. 

	4.5. The breach of the confidentiality obligation will result in the termination with cause of the Agreement, and may result in criminal penalties arising from a criminal procedure and civil sanctions.
	4.5. A violação da obrigação de confidencialidade implicará rescisão por justa causa deste Acordo, sem prejuízo das sanções penais decorrentes de procedimento criminal e sanções civis.

	 
	 

	
		
	CLAUSE 5. NON-DISPARAGEMENT AND NON-INTERFERENCE.

5.1. Francisco acknowledges and agrees that he shall not attempt, at any time, directly or indirectly, personally or through any persons and/or company, corporation or any other entity, to make any disparaging comments regarding the Company, its subsidiaries (in Brazil or abroad), direct and indirect quotaholders, associated companies, affiliates or other entities connected with them in any way, as well as its respective partners, officers, directors, employees, consultants, representatives, or any other companies belonging to the same economic group, with respect to any circumstances or facts arising from or relating to the relationship terminated herein, and the Company will also not make any disparaging comments with respect to Francisco; provided that in case Francisco and/or the Company, its subsidiaries and/or any other company of their group are required to disclosed any true facts and/or information about Francisco to governmental authorities for any reason whatsoever, such disclosure shall not be considered a breach of commitments by the Parties pursuant to this Clause 5, even if it could tarnish or otherwise adversely affect the image of Francisco.  
	CLÁUSULA 5. NÃO DEPRECIAÇÃO E NÃO INTERFERÊNCIA.

5.1. Francisco reconhece e concorda que ele não deve tentar, em qualquer tempo, seja diretamente ou indiretamente, pessoalmente ou por meio de qualquer pessoa e/ou sociedade, companhia ou qualquer outra entidade, fazer qualquer comentário depreciativo sobre a Sociedade, suas subsidiárias (no Brasil ou no exterior), seus sócios diretos e indiretos, coligadas, afiliadas ou outras entidades a elas relacionadas de qualquer forma, bem como seus respectivos sócios, diretores, conselheiros, empregados, consultores, representantes, ou quaisquer outras sociedades pertencentes ao mesmo grupo econômico, com relação a quaisquer circunstâncias ou fatos decorrentes de ou relacionados à relação extinta por meio deste Acordo, e a Sociedade também não fará qualquer comentário de demérito a respeito de Francisco, sendo certo que caso Francisco e/ou a Sociedade, as suas subsidiárias e/ou qualquer outra sociedade pertencente ao seu grupo sejam requeridas a divulgar quaisquer fatos e/ou informações verdadeiros sobre Francisco às autoridades governamentais por qualquer que seja o motivo, tal divulgação não deve ser considerada como uma violação dos compromissos das Partes em razão desta Cláusula 5, mesmo que isso possa manchar ou de outro modo afetar negativamente a imagem de Francisco.

	 
	 

	5.2. The breach of the non-disparagement and non-interference obligations will result in the termination with cause of the Agreement, and may result in criminal penalties arising from a criminal procedure and civil sanctions.
	5.2.  A violação das obrigações de não-depreciação e não-interferência implicarão rescisão por justa causa deste Acordo, sem prejuízo das sanções penais decorrentes de procedimento criminal e sanções civis.

	 
	 

	CLAUSE 6. COMPETING ACTIVITIES AND NON-SOLICITATION (OF EMPLOYEES AND CLIENTS)
	CLÁUSULA 6. DAS ATIVIDADES COMPETITIVAS E NÃO ALICIAMENTO (A EMPREGADOS E CLIENTES)

	 
	 

	6.1. For one (1) year from the Effective Date of Termination (“Non-Compete Period”), Francisco shall not compete with the Company, in accordance with the following provisions:
	6.1.  Pelo prazo de 1 (um) ano da Data Efetiva da Rescisão (“Período de Não-Concorrência”), Francisco não deve concorrer com a Sociedade, de acordo com os seguintes termos:

	 
	 

	
		
	(a)    Francisco shall not act, participate and/or get involved in any work or activity which competes directly or indirectly (including by means of any entity in which Francisco holds an equity interest) with the Company’s activities, either as owner, partner, shareholder, representative, director, officer, consultant or employee, nor shall assist in companies related to the development, manufacturing or sale of a product, process or mechanism, similar or competitive with those to which he/she had access at the Company or that are developed, manufactured or sold by the Company; being allowed, however, to freely work and/or be engaged in activities which do not compete with those performed by the Company; and
	(a)    Francisco não atuará, participará e/ou se envolverá em qualquer trabalho ou atividade que concorra, direta ou indiretamente (incluindo por meio de sociedade na qual Francisco tenha participação societária), com as atividades da Sociedade, seja como proprietário, sócio, representante, conselheiro, diretor, consultor ou empregado, e nem deve auxiliar em sociedades relacionadas ao desenvolvimento, fabricação ou venda de um produto, processo ou mecanismo, similar ou concorrente com aqueles a que teve acesso na Sociedade, ou que sejam desenvolvidos, fabricados ou vendidos pela Sociedade, podendo, todavia, trabalhar livremente e/ou se envolver em atividades não concorrentes às desempenhadas pela Sociedade;

	 
	 

	(b)    Francisco shall not incorporate and/or acquire any ownership interest in any company or groups of companies which develop any activities competing with those performed by the Company and/or any other company of its economic group, except for ownership interest not exceeding 5% (five per cent) of a listed company.
	(b)    Francisco não pode constituir e/ou adquirir qualquer participação societária em qualquer sociedade ou grupo de sociedades que desenvolvam qualquer atividade que seja concorrente às atividades da Sociedade e/ou de qualquer sociedade que integre o seu grupo econômico, com exceção de participações societárias inferiores a 5% (cinco por cento) de uma companhia listada.

	 
	 

	(c) The non-compete obligation will cover the territory of Brazil and will be related to the Company ́s wireless operators business.
	(c) A obrigação de não-concorrência cobrirá o território do Brasil e estará relacionada com o negócio de operadoras sem fio da Sociedade.

	 
	 

	(d) The indemnification for the non-compete obligation is represented by the amount preset forth in Clause 3.1(a) and 3.1(b), to the extent it has been paid, above.
	(d) A indenização pela obrigação de não-concorrência está representada pelo valor da Cláusula 3.1(a) e 3.1(b), na medida em que tiver sido pago, acima.

	 
	 

	
		
	(e) In case of specific violation of the non-compete obligation, the fine due by Francisco will be limited to the indemnification amount indicated in Clause 3.1(a) and Clause 3.1(b), to the extent it has been paid, and it will be proportional to the number of months of noncompliance with the non-compete obligation (1/12 per month considering 15 days or more of non-compliance by Francisco). In case of spontaneous payment of the fine by Francisco to the Company, on the total amount or proportional to the remaining period, such payment will release Francisco immediately from the non-compete obligation. In addition, Francisco agrees that, in the event of noncompliance with the non-compete obligation, the indemnification amount set forth in Clause 3.1(b) shall not be due by the Company, whether or not a Change of Control Transaction has occurred or occurs in the future.
	(e) Na hipótese específica de violação da obrigação de não-concorrência, a multa devida por Francisco será limitada ao valor da indenização indicada na Cláusula 3.1(a) e Cláusula 3.1(b), na medida em que tal indenização tenha sido paga, e será proporcional ao número de meses de descumprimento da obrigação de não concorrência (1/12 avos por mês considerando 15 dias ou mais de descumprimento por Francisco). Na hipótese de pagamento espontâneo da multa por Francisco à Sociedade, do valor total ou proporcional ao período remanescente, tal pagamento liberará Francisco imediatamente da obrigação de não-concorrência. Além disso, Francisco concorda que, em caso de descumprimento da obrigação de não concorrência, nenhum valor de indenização previsto na Cláusula 3.1(b) será devido pela Sociedade, ainda que uma Transação de Mudança de Controle tenha ocorrido ou ocorra no futuro.

	 
	 

	6.2.    For one (1) year from the Effective Date of Termination (“Non-Solicit Period”), Francisco shall not solicit, either directly or indirectly, in accordance with the following provisions:
	6.2.    Pelo prazo de 1 (um) ano da Data Efetiva da Rescisão (“Período de Não-Aliciamento”), o Francisco não deve aliciar, seja direta ou indiretamente, de acordo com os seguintes termos:

	 
	 

	(a)    solicit or recruit business, approach, encourage or accept any approach from any third party whom has been a customer of the Company at any time during the last 12 (twelve) months (“Customer”);
	(a)    solicitar ou angariar negócios, abordar, incentivar ou aceitar qualquer abordagem de qualquer terceiro que tenha sido um cliente da Sociedade em qualquer momento durante o período dos últimos 12 (doze) meses (“Cliente”);

	 
	 

	(b)    solicit, indicate, induce, recruit, hire, nor to induce the hiring of employees Global Grade 16 and below of the Company or to encourage them to leave their job;
	(b)    aliciar, indicar, induzir, recrutar, contratar, nem a fazer com que empregados da Sociedade Grau Global 16 ou abaixo sejam contratados por terceiros ou encorajá-los a deixar seu emprego;

	 
	 

	(c)    persuade, attempt to persuade any Customer to cease doing business with the Company, reduce the demand of business that such Customer carries out with the Company, or solicit in his/her own benefit or in the benefit of any individual or legal entity (other than the Company) the businesses between the Company and its Customers; or
	(c)    persuadir, tentar persuadir qualquer Cliente a deixar de realizar negócios com a Sociedade, reduzir a demanda de negócios que tal Cliente realiza com ela, ou aliciar em benefício próprio ou de qualquer outra pessoa ou pessoa jurídica (que não a Sociedade) os negócios entre a empresa e seus Clientes; ou

	 
	 

	
		
	(d)    interfere in any manner in the relationship by and among the Company and its Customers, employees and/or suppliers.
	(d)    interferir, de qualquer maneira, no relacionamento entre a Sociedade e seus Clientes, empregados e/ou fornecedores.

	 
	 

	6.3.    The Company reserves the right to take any legal action which may be required in case of breach of these conditions by Francisco.
	6.3.    A Sociedade reserva-se o direito de tomar qualquer medida legal que seja necessária em caso de violação destas condições pelo Francisco.

	 
	 

	
		
	CLAUSE 7. WARRANTIES AND REPRESENTATIONS

7.1. Francisco acknowledges and represents, subject to the legal penalties applicable, that he received from the Company, its controlling companies and its subsidiaries all obligations, either in writing or not, related to his relationship with the Company and each of its subsidiaries, with respect to his length of service, salaries, vacations, 13th salary and FGTS, incentives, quarterly bonuses, stock options, restricted stocks, contractual benefits and the related payments amounts and respective conditions, and that there are no pending amounts or differences in the amounts related to those titles and/or obligations to be fulfilled by the Company, its controlling company and its subsidiaries either provided under the law, Employment Agreement or collective bargaining agreement, nor any fact or event resulting from his employment relationship or his corporate relationship, as applicable, that may constitute past obligations or give rise to future obligations for the Company, its controlling company and its subsidiaries, or restrain or impede the termination of the Employment Agreement. Francisco further represents that he is not entitled to any other additional severance or other payments as the events that would trigger such payment did not occur prior to the Effective Termination Date. Francisco also warrants that he was duly assisted by his lawyer and was given full opportunity to discuss with, or submit to the Company, its controlling company and its subsidiaries any and all pending matters, facts or events of obligation nature or which might bind the Company in any manner whatsoever, so that this Agreement represents a complete warranty by Francisco that the Company or any other company of the same economic group of Brazil or of abroad, complied with all their obligations.   

	CLÁUSULA 7. GARANTIAS E DECLARAÇÕES

7.1. Francisco reconhece e declara, sujeito às penalidades legais aplicáveis, que recebeu da Sociedade, sua controladora e das suas subsidiárias todas as obrigações relacionadas ao seu vínculo com a Sociedade, controladora e cada uma das suas subsidiárias, sejam tais obrigações formalizadas por escrito ou não, inclusive em relação ao seu tempo de serviço, salários, férias, 13o salários e FGTS, incentivos, bônus trimestrais, opção de compra de ações e ações restritas, benefícios contratuais e respectivas quantias de pagamentos e respectivas condições, e que não há assuntos pendentes e/ou obrigações a serem cumpridas pela Sociedade, sua controladora e as suas subsidiárias ou previstas na lei, Contrato de Trabalho ou convenção coletiva, nem qualquer fato ou evento resultante da sua relação empregatícia ou sua relação estatutária, conforme aplicável, que possa constituir obrigações passadas ou originar obrigações futuras para a Sociedade, sua controladora e as suas subsidiárias, ou restringir ou impedir o término do Contrato de Trabalho. Francisco declara adicionalmente que não tem direito a qualquer outro adicional de rescisão ou outros pagamentos, ou proteção, em razão dos eventos que o tornariam elegível não terem ocorrido antes da Efetiva Data da Rescisão. Francisco também declara que foi devidamente assistido por seu advogado e teve plena oportunidade de discutir ou submeter a ela, sua controladora e às suas subsidiárias todos e quaisquer assuntos, fatos ou eventos pendentes de natureza obrigacional ou que possam vincular a Sociedade de qualquer outra forma, razão pela qual este Acordo representa a mais completa garantia de Francisco que a Sociedade ou qualquer outra sociedade do mesmo grupo econômico do Brasil ou do exterior cumpriu com todas as suas obrigações. 

	
		
	CLAUSE 8. RELEASE.

8.1. As a result of this Agreement, Francisco hereby expressly grants to the Company, its controlling company and its subsidiaries and any other company of the same economic group of the Company, in Brazil or abroad, board of directors, legal representatives, managers, employees and collaborators, the fullest, most complete, general and irrevocable release from any and all possible rights and/or payments related to or which may arise from the relationship as employee under his capacity of officer maintained with the Company, its controlling company, and its subsidiaries, and/or with any other company of the same economic group of the Company and subsidiaries, in Brazil or abroad.
	CLÁUSULA 8. QUITAÇÃO.

8.1. Como resultado deste Acordo, Francisco outorga expressamente à Sociedade, controladora e as suas subsidiarias e a qualquer empresa pertencente ao mesmo grupo econômico da Sociedade, no Brasil ou no exterior, sua diretoria, representantes legais, gerentes, empregados e colaboradores, a qualquer título, a mais plena, rasa, geral e irrevogável e irretratável quitação com relação a todos e quaisquer direitos e/ou pagamentos possíveis, de qualquer ordem e/ou natureza, oriundos do seu relacionamento como empregado em sua capacidade como administrador com a Sociedade, controladora e suas subsidiárias e/ou com qualquer empresa do grupo econômico da Sociedade e suas subsidiárias, no Brasil ou no exterior.

	 
	 

	CLAUSE 9. MEASURES (WITHDRAWAL OF COMPANY AND SUBSIDIARIES’ MANAGEMENT).

9.1. Following the termination of the Employment Agreement, the Company and its subsidiaries shall arrange the respective amendment of the Articles of Association to formalize Francisco’s withdrawal from the management of the Company and its subsidiaries and his replacement for a new manager. Francisco acknowledges that all the administrative public measures may take a certain period of time and undertakes to sign Company and Subsidiaries’ amendment to the Articles of Association and any other documents to give effect to his withdrawal from the management, therefore, the Company and its subsidiaries also undertake to carry out the amendments to its corporate documents and other necessary measures as soon as reasonably possible. 

	CLÁUSULA 9. PROVIDÊNCIAS (SAÍDA DA ADMINISTRAÇÃO DA SOCIEDADE E SUBSIDIÁRIAS).

9.1. Após o término do Contrato de Trabalho, a Sociedade e as suas subsidiárias deverão providenciar a respectiva alteração de Contrato Social para formalizar a saída de Francisco da administração da Sociedade e das suas subsidiárias e a substituição por um novo administrador. Francisco reconhece que todas as medidas administrativas públicas podem levar um certo período de tempo e compromete-se a assinar a alteração do Contrato Social e quaisquer outros documentos necessários para efetivar a sua saída da administração, assim, a Sociedade e suas subsidiárias também se comprometem a efetivar as alterações de seus documentos societários e demais providências necessárias tão logo quanto razoavelmente possível. 

	
		
	9.2. Francisco ́s liability in his condition as an employee officer for any act performed on behalf of the Company and its subsidiaries shall cease to exist in relation to the Company, its controlling company, its subsidiaries and/or any third parties as from the Effective Date of Termination of the Employment Agreement, except (a) in case of proven gross negligence and willful misconduct by Francisco; and/or (b) for any and all losses incurred by the Company and/or its parent entities and/or any of its subsidiaries as a result of any proven illegal and/or fraudulent act performed by Francisco during the period that he acted as employee and/or executive officer of the Company and its subsidiaries; and/or (c) if otherwise provided for in the applicable Brazilian law.
	9.2. A responsabilidade do Francisco por qualquer ato executado em nome da Sociedade e das suas subsidiárias deverá cessar, com relação à Sociedade, sua controladora e as suas subsidiárias e/ou qualquer terceiro, a partir da Data Efetiva da Rescisão do Contrato de Trabalho, exceto (a) em caso de negligência grave e ato doloso praticados comprovadamente pelo Francisco; e/ou (b) por todas e quaisquer perdas incorridas pela Sociedade e/ou controladora final e/ou quaisquer das suas subsidiárias em virtude de qualquer ato comprovadamente ilegal ou fraudulento praticado pelo Francisco durante o período em que este atuou como empregado e/ou diretor executivo da Sociedade e das suas subsidiárias; e/ou (c) se de qualquer outro modo estiver previsto na legislação brasileira aplicável.

	 
	 

	9.3. Except in cases (a) and (b) indicated in Clause 9.2 above, the Company shall hold Francisco harmless from, against and in respect of any claim, or the commencement of any suit, litigation, demand or judicial or administrative proceeding in respect of which indemnity may be sought from Francisco (hereinafter the “Claims”), in view of his employment relationship and/or his position as Company and its subsidiaries’ manager. Francisco shall give prompt written notice to the Company of the assertion of any Claim, in a reasonable time to allow the Company to take charge of defense of the Claims. To the extent the Company is duly informed to conduct the defense of such Claims, it shall pay all expenses arising from the defense. Francisco shall cooperate in the defense of any such Claim, whenever requested by the counsels indicated by the Company. In addition, Francisco shall have the right to participate under the direction of the Company and its counsel (which direction shall be reasonably calculated to minimize the liability of Francisco) in the defense of such Claim.
	9.3. Exceto nas hipóteses (a) e (b) indicadas na Cláusula 9.2 acima, a Sociedade deverá manter Francisco indene de, contra e em relação a qualquer reivindicação ou o início de qualquer ação, litígio, demanda ou processo judicial ou administrativo a respeito de qualquer indenização que possa ser solicitada a Francisco (doravante as “Reclamações”), em razão do seu vínculo empregatício e/ou seu cargo de administrador da Sociedade e suas subsidiárias. Francisco deverá informar imediatamente à Sociedade, por escrito, da ciência de qualquer Reclamação, em tempo razoável, para que a Sociedade se encarregue da defesa das Reclamações. Na medida em que a Sociedade seja notificada para conduzir a defesa das referidas Reclamações, ela deverá arcar com todas as despesas decorrentes da defesa. Francisco deverá cooperar na defesa de tal Reclamação, quando solicitado pelos advogados indicados pela Sociedade. Além disso, Francisco terá o direito de participar da orientação da Sociedade e de seus advogados (direcionamento este que deverá ser razoavelmente calculado para minimizar a responsabilidade de Francisco) na defesa de tal Reclamação.

	 
	 

	
		
	CLAUSE 10. PROPERTY.

10.1.   Francisco returned to the Company, on the Effective Date of Termination, and did not keep any copy or other kind of reproduction of any property of the Company in his possession, including any written material, files under any type of media or other documents that have been delivered to Francisco or to which Francisco has had access.

	CLÁUSULA 10. DAS PROPRIEDADES.

10.1.   O Francisco devolveu à Sociedade, na Data Efetiva da Rescisão, sem reter qualquer cópia ou outro tipo de reprodução de qualquer bem de propriedade da Sociedade que estava em sua posse, incluindo qualquer material escrito, arquivos em qualquer tipo de mídia ou outros documentos que tenham sido entregues a Francisco ou a que Francisco tenha tido acesso. 

	CLAUSE 11. GENERAL PROVISIONS.
	CLÁUSULA 11. DISPOSIÇÕES GERAIS.

	 
	 

	11.1. Irrevocability and Indefeasibility. This Agreement is executed on an irrevocable and indefeasible basis.
	11.1.  Irrevogabilidade e Irretratabilidade. Este Acordo é assinado em caráter irrevogável e irretratável.

	 
	 

	11.2.   Review of the Agreement. The Parties, assisted by their lawyers, represent that they have carefully reviewed the terms of this Agreement and that they fully understand the contents hereof. The Parties further represent that they are freely and voluntarily assenting to the terms and conditions hereof.
	11.2.   Análise do Acordo. As Partes, assistidas por seus advogados, declaram que analisaram cuidadosamente os termos deste Acordo e que têm plena ciência sobre o seu conteúdo. As Partes declaram, ainda, que elas consentiram, livremente e voluntariamente, com os termos e condições aqui estabelecidos.

	 
	 

	11.3.   No Admission or Confession. The Parties agree that by no means shall this Agreement be interpreted as an admission or confession of any past, present or future responsibility or liability by any of the Parties for any reason whatsoever.
	11.3.   Ausência de Admissão ou Confissão. As Partes concordam que este Acordo não deve ser interpretado, em hipótese alguma e por qualquer que seja a razão, como uma admissão ou confissão acerca de qualquer responsabilidade ou obrigação de qualquer das Partes, seja com relação ao passado, presente ou futuro.

	 
	 

	11.4.   Off-set. It is hereby agreed between the Parties that the amounts provided for in this Agreement may be discounted and/or offset, at any time and under any title, from the amount of any court order or arbitration award against the Company, its controlling company and any of its subsidiaries, or any company of the group, by any court or tribunal, in Brazil or abroad, resulting from any lawsuit or arbitration proceedings that may be filed by Francisco or on his behalf, except regarding to the Severance Pay, FGTS with the fine of 40% and Quarterly Bonus that can only be discounted and/or offset under the same title. 
	11.4.   Compensação. Fica desde já acordado entre as Partes que os valores objeto do presente Acordo poderão ser descontados e/ou compensados, a qualquer tempo e a qualquer título, do valor de eventual condenação judicial ou decisão arbitral que venha a ser sofrida pela Sociedade, sua controladora e quaisquer das suas subsidiárias, ou por qualquer empresa do grupo, em qualquer juízo ou tribunal, no Brasil ou no exterior, decorrente de ação judicial ou processo arbitral que eventualmente venha a ser promovido por Francisco ou em seu nome, exceto em relação às Verbas da Rescisão, FGTS com a multa de 40% e ao Bônus Trimestral que somente poderão ser descontadas e/ou compensadas sob o mesmo título.

	 
	 

	
		
	11.5.   Entire Agreement. This Agreement contains the entire agreement and understanding concerning the subject matters hereof among the Parties hereto and supersedes all prior or contemporaneous oral or written agreements, communications, proposals and representations with respect to its subject matters and prevails over any conflicting or additional terms of any quote, order, acknowledgement or any similar prior understanding among the Parties. No modification or amendment to this Agreement will be binding, unless in writing and signed by duly authorized representatives of each Party.
	11.5.   Acordo Integral. Este Acordo constitui o acordo integral e os entendimentos sobre as matérias dispostas neste Acordo entre as Partes e substitui todos os acordos, comunicados, propostas e representações com relação a essas matérias, sejam eles anteriores ou contemporâneos, verbais ou escritos, e prevalecerá sobre qualquer termo conflitante ou adicional acerca de qualquer citação, ordem, reconhecimento ou entendimento similar estabelecido anteriormente entre as Partes. Nenhuma alteração ou aditivo a este Acordo será vinculante, exceto se por escrito e devidamente assinado pelos representantes autorizados de cada Parte.

	 
	 

	11.6.   Severability. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement shall remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable. The Parties shall in good faith negotiate and endeavor their best effort to replace an invalid or unenforceable provision by an equivalent valid and enforceable provision.
	11.6.   Independência das Cláusulas. Se qualquer disposição deste Acordo for considerada inválida ou inexequível por qualquer tribunal de jurisdição competente, as demais disposições deste Acordo permanecerão em pleno vigor e efeito. Qualquer disposição deste Acordo que for considerada inválida ou inexequível somente em parte ou grau será mantida em pleno vigor e efeito na medida em que não for considerada inválida ou inexequível. As Partes deverão negociar de boa-fé e envidar os seus melhores esforços para substituir uma disposição inválida ou inexequível por uma disposição válida e exequível equivalente.

	 
	 

	11.7.   Enforceability. Any concession or tolerance of a breach by any of the Parties of any obligation related to this Agreement will be considered mere indulgence and will not result in novation, a usable precedent, tacit alteration of its terms, waiver of rights, or an acquired right of the other Party.

	11.7.   Exigibilidade. Qualquer concessão ou tolerância de um descumprimento de qualquer obrigação relacionada a este Acordo, por qualquer das Partes, será considerado mera tolerância e não resultará em novação, precedente, alteração tácita dos seus termos, renúncia de direitos ou direito adquirido da outra Parte.

	
		
	11.8.  In the event of Francisco’s breach of the conditions provided under this Agreement, Francisco shall be subject to a fine limited to the amount of the indemnification actually received and indicated in Clause 3.1(a) and Clause 3.1(b), to the extent it has been paid, of this Agreement, excluding the amount of Severance Pay indicated in Clause 2.1 of this Agreement, the Quarterly Bonus indicated in Clause 2.2 of this Agreement and the FGTS with the fine of 40% (indicated in Clause 2.4 of this Agreement). In the event of any default of the provision of Clause 6.1 of this Agreement, the Parties shall apply the provision of Clause 6.1(e). In the event of any existing pending amounts of indemnification indicated in Clause 3.1 (b) of this Agreement to be paid by the Company, they shall automatically be ceased and become void and not be due and the payment of the fine indicated in this item, damages and losses or return of amounts will not prevent Francisco from continuing to comply with any of his obligations undertaken under this Agreement.  
	11.8. Se Francisco violar as condições previstas neste Acordo, Francisco estará sujeito à uma multa limitada ao valor da indenização efetivamente recebida e indicada na Cláusula 3.1(a) e Cláusula 3.1(b), na medida em que tal indenização tenha sido paga, deste Acordo, excluindo o valor das Verbas da Rescisão indicadas na Cláusula 2.1 deste Acordo, o valor do Bônus Trimestral indicado na Cláusula 2.2 deste Acordo e o FGTS com a multa de 40% (indicado na Cláusula 2.4 deste Acordo). Na hipótese de violação das disposições da Cláusula 6.1 deste Acordo, as Partes deverão observar o disposto na Cláusula 6.1 (e). Na hipótese de haver quantias de indenização indicadas na Cláusula 3.1 (b) deste Acordo pendentes de pagamento pela Sociedade, estas cessarão de ser aplicadas automaticamente, se tornarão nulas e não serão mais devidas e o pagamento da multa indicada neste item, perdas e danos ou devolução de valores à Sociedade, não desobrigarão Francisco de continuar a cumprir suas obrigações assumidas neste Acordo.

	 
	 

	11.9.   Language. This Agreement shall be drafted and executed both in Portuguese and English languages. In case of discrepancies of interpretation between the English and Portuguese version, the Parties agree that the Portuguese version shall prevail.
	11.9.   Idioma. Este Acordo é redigido e assinado nos idiomas inglês e português. Em caso de divergências de interpretação entre a versão em inglês e a versão em português, a versão em português deverá prevalecer.

	 
	 

	11.10.   Governing Law and Dispute Resolution. This Agreement shall be governed by and construed in accordance with the laws of the Federative Republic of Brazil. Any and all controversies or disputes arising out of and/or in connection with this Agreement shall be submitted to and settled by the court of the city of São Paulo, State of São Paulo, Brazil, with the exclusion of any other courts, no matter how privileged they may be.
	11.10.  Lei Aplicável e Resolução de Conflitos. O presente Acordo será regido e interpretado de acordo com as Leis da República Federativa do Brasil. Todas e quaisquer controvérsias ou disputas decorrentes e/ou relacionadas a este Acordo deverão ser submetida e resolvida no foro da cidade de São Paulo, Estado São Paulo, Brasil, com a exclusão de qualquer outro, por mais privilegiado que possa ser.

	 
	 

	IN WITNESS WHEREOF, the Parties and their respective lawyers hereto have executed this Agreement in three (3) counterparts of equal form and content, in the presence of the two (2) undersigned witnesses.
	E POR ESTAREM ASSIM JUSTAS E CONTRATADAS, as Partes e seus advogados, assinam o presente Acordo em 3 (três) vias de igual forma e conteúdo, na presença das 2 (duas) testemunhas abaixo assinadas.

	 
	 

	São Paulo, May 23, 2017.
	São Paulo, 23 de maio de 2017. 

Annex I/ Anexo I

	
		
	Verbas Rescisórias

	Aviso Prévio e Média de Aviso
	203.076,92

	Aviso Prévio ACT
	6.153,85

	13o Salário e Média
	15.384,62

	Férias
	15.384,62

	1/3 das Férias
	5.128,21

	FGTS
	359.103,84

	Total
	604.232,06EX-10.1

 Exhibit 10.1 

XOMA CORPORATION 

AMENDED AND RESTATED 

2010 LONG TERM INCENTIVE AND STOCK AWARD PLAN 

(as amended through May 18, 2017) 

1.    Purposes. 
 The purposes of the
XOMA Corporation Amended and Restated 2010 Long Term Incentive and Stock Award Plan are to advance the interests of XOMA Corporation and its stockholders by providing a means to attract, retain, and motivate employees, consultants and directors of
the Company, its Subsidiaries and Affiliates, to provide for competitive compensation opportunities, to encourage long term service, to recognize individual contributions and reward achievement of performance goals, and to promote the creation of
long term value for stockholders by aligning the interests of such persons with those of stockholders. 
 2.    Definitions. 

For purposes of this Plan, the following terms shall be defined as set forth below: 

(a) “Affiliate” means any entity other than the Company and its Subsidiaries that is designated by the Board or the Committee as a participating
employer under this Plan; provided, however, that the Company directly or indirectly owns at least 20% of the combined voting power of all classes of stock of such entity or at least 20% of the ownership interests in such
entity. 
 (b) “Award” means any Option, SAR, Restricted Share, Restricted Stock Unit, Performance Share, Performance Unit, Dividend Equivalent,
or Other Stock-Based Award granted to an Eligible Person under this Plan. 
 (c) “Award Agreement” means any written agreement, contract, or other
instrument or document evidencing an Award. 
 (d) “Beneficiary” means the person, persons, trust or trusts which have been designated by an
Eligible Person in his or her most recent written beneficiary designation filed with the Company to receive the benefits specified under this Plan upon the death of the Eligible Person, or, if there is no designated Beneficiary or surviving
designated Beneficiary, then the person, persons, trust or trusts entitled by will or the laws of descent and distribution to receive such benefits. 
 (e)
“Board” means the Board of Directors of the Company. 
 (f) “Change in Control” means the occurrence of any of the following events:

 (i) a merger, consolidation or acquisition in which the Company is not the surviving or continuing entity, except for a transaction the principal purpose
of which is to change the jurisdiction of the Company’s organization; 
 (ii) the sale, transfer or other disposition of all or substantially all of
the assets of the Company; 

 (iii) any other reorganization or business combination in which fifty percent (50%) or more of the
Company’s outstanding voting securities are transferred to different holders in a single transaction or series of related transactions; 
 (iv) any
approval by the stockholders of the Company of a plan of complete liquidation of the Company; 
 (v) any “person” (as such term is used in
Sections 13(d) and 14(d) of the Exchange Act) becoming the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company
representing more than fifty percent (50%) of the total voting power represented by the Company’s then outstanding voting securities; or 
 (vi) a
change in the composition of the Board, as a result of which fewer than a majority of the directors are Incumbent Directors. 
 (g) “Code” means
the Internal Revenue Code of 1986, as amended from time to time. References to any provision of the Code shall be deemed to include successor provisions thereto and regulations thereunder. 

(h) “Committee” means the Compensation Committee of the Board, or such other Board committee or committees (which may include the entire Board) as
may be designated by the Board to administer all or any portion of this Plan; provided, however, that, unless otherwise determined by the Board, a Committee shall consist of two or more directors of the Company,
each of whom is a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act, to the extent applicable, and each of whom is an
“outside director” within the meaning of Section 162(m) of the Code, to the extent applicable; provided, further, that the mere fact that a Committee shall fail to qualify under either of the foregoing
requirements shall not invalidate any Award made by such Committee which Award is otherwise validly made under this Plan. Different Committees may administer this Plan with respect to different groups of Eligible Persons. As used herein, the
singular “Committee” shall include the plural “Committees” if applicable, except where the context requires otherwise. 
 (i)
“Company” means XOMA Corporation, a Delaware corporation, or any successor company. 
 (j) “Director” means a member of the Board who is
not an employee of the Company, a Subsidiary or an Affiliate. 
 (k) “Dividend Equivalent” means a right, granted under Section 5(g), to
receive cash, Shares, or other property equal in value to dividends paid with respect to a specified number of Shares. Dividend Equivalents may be awarded on a free-standing basis or in connection with another Award, and may be paid currently or on
a deferred basis. 
 (l) “Effective Date” means July 21, 2010, contingent on shareholder approval of this Plan on such date. 

(m) “Eligible Person” means (i) an employee or consultant of the Company, a Subsidiary or an Affiliate, including any director who is an
employee, or (ii) a Director. Notwithstanding any provisions of this Plan to the contrary, an Award may be granted to an employee or consultant in connection with his or her hiring or retention prior to the date the employee or consultant first
performs services for the Company, a Subsidiary or an Affiliate; provided, however, that any such Award shall not become vested or exercisable prior to the date the employee or consultant first performs such services. 

(n) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. References to any provision of the Exchange Act shall be
deemed to include successor provisions thereto and regulations thereunder. 

 (o) “Fair Market Value” means: 

(i) if the Shares are not at the time listed or admitted to trading on any stock exchange but are traded in the over-the-counter market, the fair market value shall be the closing selling price per Share on the date in question, as such price is reported on The NASDAQ Global Market or any successor
system; provided that if there is no reported closing selling price for Shares on the date in question, then the closing selling price on the last preceding date for which such quotation exists shall be determinative of fair
market value; 
 (ii) if the Shares are at the time listed or admitted to trading on any stock exchange, then the fair market value shall be the closing
selling price per Share on the date in question on the stock exchange determined by the Committee to be the primary market for the Shares, as such price is officially quoted on such exchange; provided that if there is no
reported sale of Shares on such exchange on the date in question, then the fair market value shall be the closing selling price on the exchange on the last preceding date for which such quotation exists; or 

(iii) if the Shares are at the time neither listed nor admitted to trading on any stock exchange nor traded in the over-the-counter market (or if the Committee determines that the value as determined pursuant to subsection (i) or (ii) above does not reflect fair market value), then the Committee shall determine
fair market value after taking into account such factors as it deems appropriate, including one or more independent professional appraisals. 
 (p)
“Incumbent Directors” means directors who (i) are directors of the Company as of the date hereof, (ii) are elected, or nominated for election, to the Board with the affirmative votes of the directors of the Company as of the date
hereof, or (iii) 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)
through (v) of the definition of Change in Control or in connection with an actual or threatened proxy contest relating to the election of directors of the Company. 

(q) “ISO” means any Option intended to be and designated as an incentive stock option within the meaning of Section 422 of the Code. 

(r) “NQSO” means any Option that is not an ISO. 
 (s)
“Option” means a right, granted under Section 5(b), to purchase Shares. 
 (t) “Other Stock-Based Award” means a right, granted
under Section 5(h) that relates to or is valued by reference to Shares. 
 (u) “Participant” means an Eligible Person who has been granted an
Award under this Plan. 
 (v) “Performance Award” shall have the meaning set forth in Section 7(a). 

(w) “Performance Period” shall have the meaning set forth in Section 5(f)(i). 

(x) “Performance Share” means a performance share granted under Section 5(f). 

(y) “Performance Unit” means a performance unit granted under Section 5(f). 

 (z) “Plan” means this XOMA Corporation Amended and Restated 2010 Long Term Incentive and Stock Award
Plan. 
 (aa) “Restricted Shares” means an Award of Shares under Section 5(d) that may be subject to certain restrictions and to a risk of
forfeiture. 
 (bb) “Restricted Stock Unit” means a right, granted under Section 5(e), to receive Shares or cash at the end of a specified
deferral period. 
 (cc) “Rule 16b-3” means Rule 16b-3, as from
time to time in effect and applicable to this Plan and Participants, promulgated by the Securities and Exchange Commission under Section 16 of the Exchange Act. 

(dd) “SAR” or “Stock Appreciation Right” means the right, granted under Section 5(c), to be paid an amount measured by the difference
between the exercise price of the right and the Fair Market Value of Shares on the date of exercise of the right, with payment to be made in cash, Shares, or property as specified in the Award or determined by the Committee. 

(ee) “Shares” means shares of common stock of the Company, and such other securities as may be substituted for Shares pursuant to Section 4(c)
hereof. 
 (ff) “Subsidiary” means any company (other than the Company) in an unbroken chain of companies beginning with the Company if each of
the companies (other than the last company in the unbroken chain) owns shares possessing 50% or more of the total combined voting power of all classes of stock in one of the other companies in the chain. 

(gg) “Termination of Service” means the termination of the Participant’s employment, consulting services or directorship with the Company, its
Subsidiaries and its Affiliates, as the case may be. A Participant employed by a Subsidiary of the Company or one of its Affiliates shall also be deemed to incur a Termination of Service if the Subsidiary of the Company or Affiliate ceases to be
such a Subsidiary or an Affiliate, as the case may be, and the Participant does not immediately thereafter become an employee or director of, or a consultant to, the Company, another Subsidiary of the Company or an Affiliate. In the event that a
Participant who is an employee of the Company, a Subsidiary or an Affiliate becomes a Director or a consultant to the Company, a Subsidiary or an Affiliate upon the Participant’s termination of employment, unless otherwise determined by the
Committee in its sole discretion, no Termination of Service shall be deemed to occur until such time as such Participant is no longer an employee of, or consultant to, the Company, a Subsidiary or an Affiliate or a Director, as the case may be. If a
Participant who is a Director becomes an employee of, or a consultant to, the Company, a Subsidiary or an Affiliate upon such Participant ceasing to be a Director, unless otherwise determined by the Committee in its sole discretion, such termination
of the Participant’s directorship shall not be treated as a Termination of Service unless and until the Participant’s employment or consultancy, as the case may be, terminates. Temporary absences from employment because of illness,
vacation or leave of absence and transfers among the Company and its Subsidiaries and Affiliates shall not be considered a Termination of Service. 

 3.    Administration. 

(a) Authority of the Committee. This Plan shall be administered by the Committee, and the Committee shall have full and final authority to take the
following actions, in each case subject to and consistent with the provisions of this Plan: 
 (i) to select Eligible Persons to whom Awards may be granted;

 (ii) to designate Affiliates; 
 (iii) to determine the type
or types of Awards to be granted to each Eligible Person; 
 (iv) to determine the type and number of Awards to be granted, the number of Shares to which an
Award may relate, the terms and conditions of any Award granted under this Plan (including, but not limited to, any exercise price, grant price, or purchase price, any restriction or condition, any schedule for lapse of restrictions or conditions
relating to transferability or forfeiture, exercisability, or settlement of an Award, and waiver or accelerations thereof, and waivers of performance conditions relating to an Award, based in each case on such considerations as the Committee shall
determine), and all other matters to be determined in connection with an Award; 
 (v) to determine whether, to what extent, and under what circumstances an
Award may be settled, or the exercise price of an Award may be paid, in cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, exchanged, or surrendered; 

(vi) to determine whether, to what extent, and under what circumstances cash, Shares, other Awards, or other property payable with respect to an Award will be
deferred either automatically, at the election of the Committee, or at the election of the Eligible Person, provided that such deferral shall be intended to be in compliance with Section 409A of the Code; 

(vii) to prescribe the form of each Award Agreement, which need not be identical for each Eligible Person; 

(viii) to adopt, amend, suspend, waive, and rescind such rules and regulations and appoint such agents as the Committee may deem necessary or advisable to
administer this Plan; 
 (ix) to correct any defect or supply any omission or reconcile any inconsistency in this Plan and to construe and interpret this
Plan and any Award, rules and regulations, Award Agreement, or other instrument hereunder; 
 (x) to accelerate the exercisability or vesting of all or any
portion of any Award or to extend the period during which an Award is exercisable; 
 (xi) to determine whether uncertificated Shares may be used in
satisfying Awards and otherwise in connection with this Plan; and 
 (xii) to make all other decisions and determinations as may be required under the terms
of this Plan or as the Committee may deem necessary or advisable for the administration of this Plan. 
 (b) Manner of Exercise of Committee
Authority. The Committee shall have sole discretion in exercising its authority under this Plan. Any action of the Committee with respect to this Plan shall be final, conclusive, and binding on all persons, including the Company, Subsidiaries,
Affiliates, Eligible Persons, any person claiming any rights under this Plan from or through any Eligible Person, and stockholders. The express grant of any specific power to the Committee, and the taking of any action by the Committee, shall not be
construed as limiting any power or authority of the Committee. The Committee may delegate to other members of the Board or officers or managers of the Company or any Subsidiary or Affiliate the authority, subject to such terms as the Committee shall
determine, to perform administrative functions and, with respect to Awards granted to persons not subject to Section 16 of the Exchange Act, to perform such other functions as the Committee may determine, to the extent permitted under Rule 16b-3 (if applicable) and applicable law. 

 (c) Limitation of Liability. Each member of the Committee shall be entitled to, in good faith, rely
or act upon any report or other information furnished to him or her by any officer or other employee of the Company or any Subsidiary or Affiliate, the Company’s independent certified public accountants, or other professional retained by the
Company to assist in the administration of this Plan. No member of the Committee, and no officer or employee of the Company acting on behalf of the Committee, shall be personally liable for any action, determination, or interpretation taken or made
in good faith with respect to this Plan, and all members of the Committee and any officer or employee of the Company acting on their behalf shall, to the extent permitted by law, be fully indemnified and protected by the Company with respect to any
such action, determination, or interpretation. 
 (d) Limitation on Committee’s Discretion. Anything in this Plan to the contrary
notwithstanding, in the case of any Award which is intended to qualify as “performance-based compensation” within the meaning of Section 162(m)(4)(C) of the Code, the Committee shall have no discretion to increase the amount of
compensation payable under the Award to the extent such an increase would cause the Award to lose its qualification as such performance-based compensation. 

(e) No Option or SAR Repricing Without Stockholder Approval. Except as provided in the first sentence of Section 4(c) hereof relating to
certain anti-dilution adjustments, unless the approval of stockholders of the Company is obtained, (i) Options and SARs shall not be amended to lower their exercise price, (ii) Options and SARs will not be exchanged for other Options or
SARs with lower exercise prices, (iii) Options and SARs with an exercise price in excess of the Fair Market Value of the underlying Shares will not be exchanged for cash or other property and (iii) no other action shall be taken with
respect to Options or SARs that would be treated as a repricing under the rules of the principal stock exchange on which the Shares are listed. 

(f) Limitation on Committee’s Authority under 409A. Anything in this Plan to the contrary notwithstanding, the Committee’s authority to
modify outstanding Awards shall be limited to the extent necessary so that the existence of such authority does not (i) cause an Award that is not otherwise deferred compensation subject to Section 409A of the Code to become deferred
compensation subject to Section 409A of the Code or (ii) cause an Award that is otherwise deferred compensation subject to Section 409A of the Code to fail to meet the requirements prescribed by Section 409A of the Code. 

4.    Shares Subject to this Plan. 

(a) Subject to adjustment as provided in Section 4(c) hereof, the total number of Shares reserved for issuance in connection with Awards under this Plan
shall be (i) 2,579,062 plus (ii) the number of Shares subject to awards granted prior to the Effective Date of this Plan under the Company’s 1981 Share Option Plan, its Restricted Share Plan or its 1992 Directors Share Option Plan
(the “Prior Plans”) which awards are, after the Effective Date, forfeited, canceled, surrendered or otherwise terminated without a distribution of Shares to the holder of the award; provided, however,
that, subject to adjustment as provided in Section 4(c) hereof, no more than 2,579,062 Shares may be issued as ISOs under this Plan; and, provided, further, that for each Restricted Share, Restricted Stock Unit,
Performance Share, Performance Unit, Dividend Equivalent or Other Stock-Based Award issued, such total number of available Shares shall be reduced by 1.08 Shares. No Award may be granted if the number of Shares to which such Award relates, when
added to the number of Shares previously issued under this Plan, exceeds the number of Shares reserved under the applicable provisions of the preceding sentence. If any Awards are forfeited, canceled, terminated, exchanged or surrendered or such
Award is settled in cash or otherwise terminates without a distribution of Shares to the Participant, any Shares counted against the 

 
number of Shares reserved and available under this Plan with respect to such Award shall, to the extent of any such forfeiture, repurchase, settlement, termination, cancellation, exchange or
surrender, again be available for Awards under this Plan. Further, for each share underlying an Award that was granted under this Plan and is a Restricted Share, Restricted Stock Unit, Performance Share, Performance Unit, Dividend Equivalent or
Other Stock-Based Award and for each share underlying an award other than an option or stock appreciation right that was granted under a Prior Plan, in each case, that is forfeited, cancelled, terminated, exchanged or surrendered, such forfeiture,
cancellation, termination, exchange or surrender will result in the addition of 1.08 shares to the share reserve of this Plan. Upon the exercise of any Award granted in tandem with any other Awards, such related Awards shall be canceled to the
extent of the number of Shares as to which the Award is exercised. If any shares subject to an Award are not delivered to a participant because the Award is exercised through a reduction of shares subject to the Award (i.e., “net
exercised”), the number of shares that are not delivered to the participant shall not remain available for issuance under the Long Term Incentive Plan. Also, any shares withheld or reacquired by the Company pursuant to the exercise of an option
or SAR or as consideration for the exercise of an option or SAR, and any shares withheld or reacquired by the Company in satisfaction of the Company’s tax withholding obligation on an Award shall not again become available for issuance under
the Plan 
 (b) Subject to adjustment as provided in Section 4(c) hereof, the maximum number of Shares (i) with respect to which Options or SARs
may be granted during a calendar year to any Eligible Person under this Plan shall be 2,000,000 Shares, and (ii) with respect to which Performance Shares, Performance Units, Restricted Shares or Restricted Stock Units intended to qualify as
performance-based compensation within the meaning of Section 162(m)(4)(C) of the Code may be granted during a calendar year to any Eligible Person under this Plan shall be 2,000,000 Shares. 

(c) In the event that the Committee shall determine that any dividend in Shares, recapitalization, Share split, reverse split, reorganization, merger,
consolidation, spin-off, combination, repurchase, share exchange, extraordinary distribution or other similar corporate transaction or event, affects the Shares such that an adjustment is appropriate in order
to prevent dilution or enlargement of the rights of Eligible Persons under this Plan, then the Committee shall make such equitable changes or adjustments as it deems appropriate and, in such manner as it may deem equitable, (i) adjust any or
all of (w) the number and kind of shares which may thereafter be issued under this Plan, (x) the number and kind of shares, other securities or other consideration issued or issuable in respect of outstanding Awards, (y) the exercise
price, grant price, or purchase price relating to any Award, and (z) the maximum number of shares, as provided in Section 4(b), with respect to which Options or SARs may be granted during a calendar year to any Eligible Person under this Plan
and with respect to which Performance Shares, Performance Units, Restricted Shares or Restricted Stock Units intended to qualify as performance-based compensation within the meaning of Section 162(m)(4)(C) of the Code may be granted during a
calendar year to any Eligible Person under this Plan, or (ii) provide for a distribution of cash or property in respect of any Award; provided, however, in each case that, with respect to ISOs, such adjustment shall
be made in accordance with Section 424(a) of the Code, unless the Committee determines otherwise; provided, further, that no adjustment shall be made pursuant to this Section 4(c) that causes any Award that is
not otherwise deferred compensation subject to Section 409A of the Code to be treated as deferred compensation pursuant to Section 409A of the Code. In addition, the Committee is authorized to make adjustments in the terms and conditions
of, and the criteria and performance objectives, if any, included in, Awards in recognition of unusual or non-recurring events (including, without limitation, events described in the preceding sentence)
affecting the Company or any Subsidiary or Affiliate or the financial statements of the Company or any Subsidiary or Affiliate, or in response to changes in applicable laws, regulations, or accounting principles; provided,
however, that the Committee shall not have discretion to increase the amount of compensation payable under any Award intended to qualify as 

 
performance-based compensation for purposes of Section 162(m)(4)(C) of the Code to the extent such an increase would cause the Award to lose its qualification as performance-based
compensation for purposes of Section 162(m)(4)(C) of the Code and the regulations thereunder. 
 (d) Any Shares distributed pursuant to an Award may
consist, in whole or in part, of authorized and unissued Shares or treasury Shares including Shares acquired by purchase in the open market or in private transactions. 

5.    Specific Terms of Awards. 

(a) General. Awards may be granted on the terms and conditions set forth in this Section 5. In addition, the Committee may impose on any
Award or the exercise thereof, at the date of grant or thereafter (subject to Section 9(d)), such additional terms and conditions, not inconsistent with the provisions of this Plan, as the Committee shall determine, including terms regarding
forfeiture of Awards or continued exercisability of Awards in the event of Termination of Service by the Eligible Person. 
 (b) Options. The
Committee is authorized to grant Options, which may be NQSOs or ISOs, to Eligible Persons on the following terms and conditions: 
 (i) Exercise
Price. The exercise price per Share purchasable under an Option shall be determined by the Committee; provided, however, that the exercise price per Share of an Option shall not be less than the Fair Market Value of a Share on
the date of grant of the Option. The Committee may, without limitation, set an exercise price that is based upon achievement of performance criteria if deemed appropriate by the Committee. 

(ii) Option Term. The term of each Option shall be determined by the Committee; provided, however, that such term shall not be
longer than ten years from the date of grant of the Option. 
 (iii) Time and Method of Exercise. The Committee shall determine at the date
of grant or thereafter the time or times at which an Option may be exercised in whole or in part (including, without limitation, upon achievement of performance criteria if deemed appropriate by the Committee), the methods by which such exercise
price may be paid or deemed to be paid (including, without limitation, broker-assisted exercise arrangements), the form of such payment (including, without limitation, cash, Shares or other property), and the methods by which Shares will be
delivered or deemed to be delivered to Eligible Persons. 
 (iv) ISOs. The terms of any ISO granted under this Plan shall comply in all
respects with the provisions of Section 422 of the Code, including but not limited to the requirement that the ISO shall be granted within ten years from the earlier of the date of adoption or stockholder approval of this Plan. ISOs may only be
granted to employees of the Company or a Subsidiary. 
 (c) SARs. The Committee is authorized to grant SARs (Stock Appreciation Rights) to
Eligible Persons on the following terms and conditions: 
 (i) Right to Payment. A SAR shall confer on the Eligible Person to whom
it is granted a right to receive with respect to each Share subject thereto, upon exercise thereof, the excess of (1) the Fair Market Value of one Share on the date of exercise over (2) the exercise price per Share of the SAR, as
determined by the Committee as of the date of grant of the SAR (which shall not be less than the Fair Market Value per Share on the date of grant of the SAR and, in the case of a SAR granted in tandem with an Option, shall be equal to the exercise
price of the underlying Option). 

 (ii) Other Terms. The Committee shall determine, at the time of grant or thereafter, the time or
times at which a SAR may be exercised in whole or in part (which shall not be more than ten years after the date of grant of the SAR), the method of exercise, method of settlement, form of consideration payable in settlement, method by which Shares
will be delivered or deemed to be delivered to Eligible Persons, whether or not a SAR shall be in tandem with any other Award, and any other terms and conditions of any SAR. Unless the Committee determines otherwise, a SAR (1) granted in tandem
with an NQSO may be granted at the time of grant of the related NQSO or at any time thereafter and (2) granted in tandem with an ISO may only be granted at the time of grant of the related ISO. 

(d) Restricted Shares. The Committee is authorized to grant Restricted Shares to Eligible Persons on the following terms and conditions: 

(i) Issuance and Restrictions. Restricted Shares shall be subject to such restrictions on transferability and other restrictions, if any, as
the Committee may impose at the date of grant or thereafter, which restrictions may lapse separately or in combination at such times, under such circumstances (including, without limitation, upon achievement of performance criteria if deemed
appropriate by the Committee), in such installments, or otherwise, as the Committee may determine. Except to the extent restricted under the Award Agreement relating to the Restricted Shares, an Eligible Person granted Restricted Shares shall have
all of the rights of a stockholder including, without limitation, the right to vote Restricted Shares and the right to receive dividends thereon. 

(ii) Forfeiture. Except as otherwise determined by the Committee, at the date of grant or thereafter, upon Termination of Service during the
applicable restriction period, Restricted Shares shall be repurchased by the Company for a nominal amount equal to their par value and any accrued but unpaid dividends or Dividend Equivalents that are at that time subject to restrictions shall be
forfeited; provided, however, that the Committee may provide, by rule or regulation or in any Award Agreement, or may determine in any individual case, that restrictions or forfeiture conditions relating to Restricted
Shares will be waived in whole or in part in the event of Termination of Service resulting from specified causes, and the Committee may in other cases waive in whole or in part the forfeiture of Restricted Shares. 

(iii) Certificates for Shares. Restricted Shares granted under this Plan may be evidenced in such manner as the Committee shall determine. If
certificates representing Restricted Shares are registered in the name of the Eligible Person, such certificates shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Shares, and, unless
otherwise determined by the Committee, the Company shall retain physical possession of the certificate and the Participant shall deliver a stock power to the Company, endorsed in blank, relating to the Restricted Shares. 

(iv) Dividends. Dividends paid on Restricted Shares shall be either paid at the dividend payment date, or deferred for payment to such date,
and subject to such conditions, as determined by the Committee, in cash or in restricted or unrestricted Shares having a Fair Market Value equal to the amount of such dividends. Unless otherwise determined by the Committee, Shares distributed in
connection with a Share split or dividend in Shares, and other property distributed as a dividend, shall be subject to restrictions and a risk of forfeiture to the same extent as the Restricted Shares with respect to which such Shares or other
property has been distributed. 
 (e) Restricted Stock Units. The Committee is authorized to grant Restricted Stock Units to Eligible
Persons, subject to the following terms and conditions: 
 (i) Award and Restrictions. Delivery of Shares or cash, as the case may be, will
occur upon expiration of the deferral period specified for Restricted Stock Units by the Committee (or, if permitted by the Committee, as elected by the Eligible Person). In addition, Restricted Stock Units shall be subject to such

 
restrictions as the Committee may impose, if any (including, without limitation, the achievement of performance criteria if deemed appropriate by the Committee), at the date of grant or
thereafter, which restrictions may lapse at the expiration of the deferral period or at earlier or later specified times, separately or in combination, in installments or otherwise, as the Committee may determine. 

(ii) Forfeiture. Except as otherwise determined by the Committee at the date of grant or thereafter, upon Termination of Service during the
applicable deferral period or portion thereof to which forfeiture conditions apply (as provided in the Award Agreement evidencing the Restricted Stock Units), or upon failure to satisfy any other conditions precedent to the delivery of Shares or
cash to which such Restricted Stock Units relate, all Restricted Stock Units that are at that time subject to deferral or restriction shall be forfeited; provided, however, that the Committee may provide, by rule or regulation
or in any Award Agreement, or may determine in any individual case, that restrictions or forfeiture conditions relating to Restricted Stock Units will be waived in whole or in part in the event of Termination of Service resulting from specified
causes, and the Committee may in other cases waive in whole or in part the forfeiture of Restricted Stock Units. 
 (iii) Dividend
Equivalents. Unless otherwise determined by the Committee at the date of grant, Dividend Equivalents on the specified number of Shares covered by a Restricted Stock Unit shall be either (A) paid with respect to such Restricted Stock
Unit at the dividend payment date in cash or in restricted or unrestricted Shares having a Fair Market Value equal to the amount of such dividends, or (B) deferred with respect to such Restricted Stock Unit and the amount or value thereof
automatically deemed reinvested in additional Restricted Stock Units or other Awards, as the Committee shall determine. 
 (f) Performance Shares
and Performance Units. The Committee is authorized to grant Performance Shares or Performance Units or both to Eligible Persons on the following terms and conditions: 

(i) Performance Period. The Committee shall determine a performance period (the “Performance Period”) of one or more years or other
periods and shall determine the performance objectives for grants of Performance Shares and Performance Units. Performance objectives may vary from Eligible Person to Eligible Person and shall be based upon the performance criteria as the Committee
may deem appropriate. The performance objectives may be determined by reference to the performance of the Company, or of a Subsidiary or Affiliate, or of a division or unit of any of the foregoing. Performance Periods may overlap and Eligible
Persons may participate simultaneously with respect to Performance Shares and Performance Units for which different Performance Periods are prescribed. 

(ii) Award Value. At the beginning of a Performance Period, the Committee shall determine for each Eligible Person or group of Eligible
Persons with respect to that Performance Period the range of number of Shares, if any, in the case of Performance Shares, and the range of dollar values, if any, in the case of Performance Units, which may be fixed or may vary in accordance with
such performance or other criteria specified by the Committee, which shall be paid to an Eligible Person as an Award if the relevant measure of Company performance for the Performance Period is met. 

(iii) Significant Events. If during the course of a Performance Period there shall occur significant events as determined by the Committee
which the Committee expects to have a substantial effect on a performance objective during such period, the Committee may revise such objective; provided, however, that, in the case of any Award intended to
qualify as performance-based compensation for purposes of Section 162(m)(4)(C) of the Code, the Committee shall not have any discretion to increase the amount of compensation payable under the Award to the extent such an increase would cause
the Award to lose its qualification as performance-based compensation for purposes of Section 162(m)(4)(C) of the Code and the regulations thereunder. 

 (iv) Forfeiture. Except as otherwise determined by the Committee at the date of grant or
thereafter, upon Termination of Service during the applicable Performance Period, Performance Shares and Performance Units for which the Performance Period was prescribed shall be forfeited; provided, however, that the
Committee may provide, by rule or regulation or in any Award Agreement, or may determine in an individual case, that restrictions or forfeiture conditions relating to Performance Shares and Performance Units will be waived in whole or in part in the
event of Terminations of Service resulting from specified causes, and the Committee may in other cases waive in whole or in part the forfeiture of Performance Shares and Performance Units. 

(v) Payment. Each Performance Share or Performance Unit may be paid in whole Shares, or cash, or a combination of Shares and cash either as a
lump sum payment or in installments, all as the Committee shall determine, at the time of grant of the Performance Share or Performance Unit or otherwise, commencing at the time determined by the Committee. 

(vi) Restriction on Dividends. No dividends or Dividend Equivalents shall be paid on any Performance Share or Performance Unit until such
time (if ever) as the performance criteria associated therewith have been met. 
 (g) Dividend Equivalents. The Committee is authorized to
grant Dividend Equivalents to Eligible Persons. The Committee may provide, at the date of grant or thereafter, that Dividend Equivalents shall be paid or distributed when accrued or shall be deemed to have been reinvested in additional Shares, or
other investment vehicles as the Committee may specify; provided, however, that, unless otherwise determined by the Committee, Dividend Equivalents (other than freestanding Dividend Equivalents) shall be subject to all
conditions and restrictions of any underlying Awards to which they relate. 
 (h) Other Stock-Based Awards. The Committee is authorized,
subject to limitations under applicable law, to grant to Eligible Persons such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares, as deemed by the Committee
to be consistent with the purposes of this Plan, including, without limitation, unrestricted shares awarded purely as a “bonus” and not subject to any restrictions or conditions, other rights convertible or exchangeable into Shares,
purchase rights for Shares, Awards with value and payment contingent upon performance of the Company or any other factors designated by the Committee, and Awards valued by reference to the performance of specified Subsidiaries or Affiliates. The
Committee shall determine the terms and conditions of such Awards at date of grant or thereafter. Shares delivered pursuant to an Award in the nature of a purchase right granted under this Section 5(h) shall be purchased for such consideration,
paid for at such times, by such methods, and in such forms, including, without limitation, cash, Shares, notes or other property, as the Committee shall determine. Cash awards, as an element of or supplement to any other Award under this Plan, shall
also be authorized pursuant to this Section 5(h). 
 6.    Certain Provisions Applicable to Awards. 

(a) Stand-Alone, Additional, Tandem and Substitute Awards. Awards granted under this Plan may, in the discretion of the Committee, be granted
to Eligible Persons either alone or in addition to, in tandem with, or in exchange or substitution for, any other Award granted under this Plan or any award granted under any other plan or agreement of the Company, any Subsidiary or Affiliate, or
any business entity to be acquired by the Company or a Subsidiary or Affiliate, or any other right of an Eligible Person to receive payment from the Company or any Subsidiary or Affiliate. Awards may be granted in addition to or in tandem with such
other Awards or awards, and may be granted either as of the same time as, or a different time from, the grant of such other Awards or awards. Subject to the provisions of Section 3(e) hereof prohibiting Option and SAR repricing without
stockholder approval, the per Share exercise price of any Option, or grant price of any SAR, which is granted in connection with the substitution of awards granted 

 
under any other plan or agreement of the Company or any Subsidiary or Affiliate, or any business entity to be acquired by the Company or any Subsidiary or Affiliate, shall be determined by the
Committee, in its discretion. 
 (b) Term of Awards. The term of each Award granted to an Eligible Person shall be for such period as may be
determined by the Committee; provided, however, that in no event shall the term of any Option or SAR exceed a period of ten years from the date of its grant (or, in the case of ISOs, such shorter period as may be applicable under
Section 422 of the Code). 
 (c) Form of Payment Under Awards. Subject to the terms of this Plan and any applicable Award Agreement,
payments to be made by the Company or a Subsidiary or Affiliate upon the grant, maturation, or exercise of an Award may be made in such forms as the Committee shall determine at the date of grant or thereafter, including, without limitation, cash,
Shares, notes or other property, and may be made in a single payment or transfer, in installments, or on a deferred basis, provided that any such deferral shall be intended to be in compliance with Section 409A of the
Code. The Committee may make rules relating to installment or deferred payments with respect to Awards, including the rate of interest to be credited with respect to such payments, and the Committee may require deferral of payment under an Award if,
in the sole judgment of the Committee, it may be necessary in order to avoid nondeductibility of the payment under Section 162(m) of the Code. 

(d) Nontransferability. Awards shall not be transferable by an Eligible Person except by will or the laws of descent and distribution (except
pursuant to a Beneficiary designation) and shall be exercisable during the lifetime of an Eligible Person only by such Eligible Person or his or her guardian or legal representative, provided that Awards that are NQSOs may be
transferred or assigned by the optionee to the optionee’s spouse or descendent (any such spouse or descendent, an “Immediate Family Member”) or a corporation, partnership, limited liability company or trust so long as all of the
stockholders, partners, members or beneficiaries thereof, as the case may be, are either the optionee or the optionee’s Immediate Family Member, provided, further, that (i) there may be no
consideration for any such transfer and (ii) subsequent transfers of the transferred NQSO will be prohibited other than by will or the laws of descent and distribution. An Eligible Person’s rights under this Plan may not be pledged,
mortgaged, hypothecated, or otherwise encumbered, and shall not be subject to claims of the Eligible Person’s creditors. 

(e) Noncompetition. The Committee may, by way of the Award Agreements or otherwise, establish such other terms, conditions, restrictions
and/or limitations, if any, of any Award, provided they are not inconsistent with this Plan, including, without limitation, the requirement that the Participant not engage in competition with, solicit customers or employees of, or disclose or use
confidential information of the Company or its Affiliates. 
 7.    Performance Awards. 

(a) Performance Awards Granted to Covered Employees. If the Committee determines that an Award (other than an Option or SAR) to be granted to
an Eligible Person should qualify as “performance-based compensation” for purposes of Section 162(m) of the Code, the grant, vesting, exercise and/or settlement of such Award (each, a “Performance Award”) shall be contingent
upon achievement of pre-established performance goals and other terms set forth in this Section 7(a). 

(i) Performance Goals Generally. The performance goals for such Performance Awards shall consist of one or more business criteria and a
targeted level or levels of performance with respect to each of such criteria, as specified by the Committee consistent with this Section 7(a). The performance goals shall be 

 
objective and shall otherwise meet the requirements of Section 162(m) of the Code and regulations thereunder (including Treasury Regulation 1.162-27
and successor regulations thereto), including the requirement that the level or levels of performance targeted by the Committee result in the achievement of performance goals being “substantially uncertain.” The Committee may determine
that such Performance Awards shall be granted, vested, exercised and/or settled upon achievement of any one performance goal or that two or more of the performance goals must be achieved as a condition to grant, vesting, exercise and/or settlement
of such Performance Awards. Performance goals may differ for Performance Awards granted to any one Participant or to different Participants. 

(ii) Business Criteria. One or more of the following business criteria for the Company, on a consolidated basis, and/or for specified
Subsidiaries or Affiliates or other business units or lines of business of the Company shall be used by the Committee in establishing performance goals for such Performance Awards: (1) earnings per share (basic or fully diluted);
(2) revenues; (3) earnings, before or after taxes, from operations (generally or specified operations), or before or after interest expense, depreciation, amortization, incentives, or extraordinary or special items; (4) cash flow,
free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by operations, or cash flow in excess of cost of capital; (5) return on net assets, return on assets, return on investment, return on capital, return on
equity; (6) economic value added; (7) operating margin or operating expense; (8) net income; (9) Share price or total stockholder return; (10) book value; (11) expense ratio; (12) operating income; and
(13) strategic business criteria, consisting of one or more objectives based on meeting specified market penetration, geographic business expansion goals, cost targets, customer satisfaction, supervision of litigation and information
technology, and goals relating to acquisitions or divestitures of Subsidiaries, Affiliates or joint ventures. The targeted level or levels of performance with respect to such business criteria may be established at such levels and in such terms as
the Committee may determine, in its discretion, including in absolute terms, as a goal relative to performance in prior periods, or as a goal compared to the performance of one or more comparable companies or an index covering multiple companies.

 (iii) Performance Period; Timing for Establishing Performance Goals; Per-Person
Limit. Achievement of performance goals in respect of such Performance Awards shall be measured over a performance period, as specified by the Committee. A performance goal shall be established not later than the earlier of (A) 90 days
after the beginning of any performance period applicable to such Performance Award or (B) the time 25% of such performance period has elapsed. In all cases, the maximum Performance Award of any Participant shall be subject to the limitation set
forth in Section 4(b) or 7(a)(v), as applicable. 
 (iv) Settlement of Performance Awards; Other Terms. Settlement of such Performance
Awards shall be in cash, Shares, other Awards or other property, in the discretion of the Committee. The Committee may, in its discretion, reduce the amount of a settlement otherwise to be made in connection with such Performance Awards, but may not
exercise discretion to increase any such amount payable to the Participant in respect of a Performance Award subject to this Section 7(a). Any settlement which changes the form of payment from that originally specified shall be implemented in a
manner such that the Performance Award and other related Awards do not, solely for that reason, fail to qualify as “performance-based compensation” for purposes of Section 162(m) of the Code. The Committee shall specify the
circumstances in which such Performance Awards shall be paid or forfeited in the event of Termination of Service of the Participant or other event (including a Change in Control) prior to the end of a performance period or settlement of such
Performance Awards. 
 (v) Maximum Annual Cash Award. The maximum amount payable upon settlement of a cash-settled Performance Unit
(or other cash-settled Award) granted under this Plan that is intended to satisfy the requirements for “performance-based compensation” under Section 162(m) of the Code for any calendar year to any Eligible Person shall not exceed
$3,000,000. 

 (b) Written Determinations. Determinations by the Committee as to the establishment of
performance goals, the amount potentially payable in respect of Performance Awards, the level of actual achievement of the specified performance goals relating to Performance Awards and the amount of any final Performance Award shall be recorded in
writing in the case of Performance Awards intended to qualify under Section 162(m) of the Code. Specifically, the Committee shall certify in writing, in a manner conforming to applicable regulations under Section 162(m), prior to
settlement of each such Award, that the performance objective relating to the Performance Award and other material terms of the Award upon which settlement of the Award was conditioned have been satisfied. 

8. Change in Control Provisions. Unless otherwise provided by the Committee at the time of the Award grant, in the event of a Change in Control,
each outstanding Award shall either be assumed by the successor company or parent thereof or to be replaced with comparable awards with respect to capital stock of the successor company or parent thereof, such comparability to be determined by the
Committee; provided, however , that notwithstanding the foregoing, if an outstanding Award is not so assumed or replaced, then (i) such outstanding Award pursuant to which the Participant may have rights the exercise of
which is restricted or limited, shall become fully exercisable at the time of the Change in Control, and (ii) unless the right to lapse of restrictions or limitations is waived or deferred by a Participant prior to such lapse, all restrictions
or limitations (including risks of forfeiture and deferrals) on such outstanding Award subject to restrictions or limitations under this Plan shall lapse, and all performance criteria and other conditions to payment of Awards under which payments of
cash, Shares or other property are subject to conditions shall be deemed to be achieved or fulfilled at target (if applicable) and shall be waived by the Company at the time of the Change in Control. 

9.    General Provisions. 

(a) Compliance with Legal and Trading Requirements. This Plan, the granting and exercising of Awards thereunder, and the other obligations of
the Company under this Plan and any Award Agreement, shall be subject to all applicable federal, state and foreign laws, rules and regulations, and to such approvals by any stock exchange, regulatory or governmental agency as may be required. The
Company, in its discretion, may postpone the issuance or delivery of Shares under any Award until completion of such stock exchange or market system listing or registration or qualification of such Shares or any required action under any state,
federal or foreign law, rule or regulation as the Company may consider appropriate, and may require any Participant to make such representations and furnish such information as it may consider appropriate in connection with the issuance or delivery
of Shares in compliance with applicable laws, rules and regulations. No provisions of this Plan shall be interpreted or construed to obligate the Company to register any Shares under federal, state or foreign law. The Shares issued under this Plan
may be subject to such other restrictions on transfer as determined by the Committee. 
 (b) No Right to Continued Employment or
Service. Neither this Plan nor any action taken thereunder shall be construed as giving any employee, consultant or director the right to be retained in the employ or service of the Company or any of its Subsidiaries or Affiliates, nor
shall it interfere in any way with the right of the Company or any of its Subsidiaries or Affiliates to terminate any employee’s, consultant’s or director’s employment or service at any time. 

(c) Taxes. The Company or any Subsidiary or Affiliate is authorized to withhold from any Award granted, any payment relating to an Award
under this Plan, including from a distribution of Shares, or any payroll or other payment to an Eligible Person, amounts of withholding and other taxes due in connection with any transaction involving an Award, and to take such other action as the
Committee may deem advisable to enable the Company and Eligible Persons to satisfy obligations for the payment of withholding taxes and other tax obligations relating to any Award. This authority shall include authority

 
to withhold or receive Shares or other property and to make cash payments in respect thereof in satisfaction of an Eligible Person’s tax
obligations; provided, however, that the amount of tax withholding to be satisfied by withholding Shares shall be limited to the minimum amount of taxes, including employment taxes, required to be withheld under
applicable Federal, state and local law. 
 (d) Changes to this Plan and Awards. The Board may amend, alter, suspend, discontinue, or
terminate this Plan or the Committee’s authority to grant Awards under this Plan without the consent of stockholders of the Company or Participants, except that any such amendment or alteration shall be subject to the approval of the
Company’s stockholders (i) to the extent such stockholder approval is required under the rules of any stock exchange or automated quotation system on which the Shares may then be listed or quoted, or (ii) as it applies to ISOs, to the
extent such stockholder approval is required under Section 422 of the Code; provided, however, that, without the consent of an affected Participant, no amendment, alteration, suspension, discontinuation, or
termination of this Plan may materially and adversely affect the rights of such Participant under any Award theretofore granted to him or her. The Committee may waive any conditions or rights under, amend any terms of, or amend, alter, suspend,
discontinue or terminate, any Award theretofore granted, prospectively or retrospectively; provided, however, that, without the consent of a Participant, no amendment, alteration, suspension, discontinuation or termination of
any Award may materially and adversely affect the rights of such Participant under any Award theretofore granted to him or her. 
 (e) No Rights to
Awards; No Stockholder Rights. No Eligible Person or employee shall have any claim to be granted any Award under this Plan, and there is no obligation for uniformity of treatment of Eligible Persons and employees. No Award shall confer on
any Eligible Person any of the rights of a stockholder of the Company unless and until Shares are duly issued or transferred to the Eligible Person in accordance with the terms of the Award. 

(f) Unfunded Status of Awards. This Plan is intended to constitute an “unfunded” plan for incentive compensation. With respect to
any payments not yet made to a Participant pursuant to an Award, nothing contained in this Plan or any Award shall give any such Participant any rights that are greater than those of a general creditor of the Company;
provided, however, that the Committee may authorize the creation of trusts or make other arrangements to meet the Company’s obligations under this Plan to deliver cash, Shares, other Awards, or other property pursuant to any
Award, which trusts or other arrangements shall be consistent with the “unfunded” status of this Plan unless the Committee otherwise determines with the consent of each affected Participant. 

(g) Nonexclusivity of this Plan. Neither the adoption of this Plan by the Board nor its submission to the stockholders of the Company for
approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of options and other awards otherwise than under this
Plan, and such arrangements may be either applicable generally or only in specific cases. 
 (h) Not Compensation for Benefit Plans. No
Award payable under this Plan shall be deemed salary or compensation for the purpose of computing benefits under any benefit plan or other arrangement of the Company for the benefit of its employees, consultants or directors unless the Company shall
determine otherwise. 
 (i) No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to this Plan or any Award. The
Committee shall determine whether cash, other Awards, or other property shall be issued or paid in lieu of such fractional Shares or whether such fractional Shares or any rights thereto shall be forfeited or otherwise eliminated. 

 (j) Governing Law. The validity, construction, and effect of this Plan, any rules and
regulations relating to this Plan, and any Award Agreement shall be determined in accordance with the laws of the State of Delaware without giving effect to principles of conflict of laws thereof. 

(k) Effective Date; Plan Termination. This Plan became effective as of the Effective Date. This Plan shall terminate as to future awards on
May 25, 2020 unless earlier terminated or extended by amendment. 
 (l) Section 409A. Awards under this Plan are intended to
comply with, or be exempt from, the applicable requirements of Section 409A of the Code and shall be limited, construed and interpreted in accordance with such intent. Although the Company does not guarantee any particular tax treatment, to the
extent that any Award is subject to Section 409A of the Code, it shall be paid in a manner that is intended to comply with Section 409A of the Code, including regulations and any other guidance issued by the Secretary of the Treasury and
the Internal Revenue Service with respect thereto. In no event whatsoever shall the Company be liable for any additional tax, interest or penalties that may be imposed on a Participant by Section 409A of the Code or any damages for failing to
comply with Section 409A of the Code. 
 (m) Change of Domicile. This Plan has been amended and restated to give effect to the
Company’s change of its jurisdiction of incorporation from Bermuda to Delaware (the “Domestication”), effective December 31, 2011 (the “Domestication Effective Date”). To the extent that Shares are required to, or may,
be issued pursuant to an Award, shares of common stock of XOMA Corporation, a Delaware corporation, will be issued upon exercise or payment of any such Award previously or hereafter granted under this Plan, including Awards that were outstanding
prior to the Domestication Effective Date. Until surrendered and exchanged, each certificate delivered to a Participant pursuant to this Plan and evidencing outstanding Shares immediately prior to the Domestication Effective Date shall, for all
purposes of this Plan and the Shares, continue to evidence the identical amount and number of outstanding Shares at and after the Domestication Effective Date. After the Domestication Effective Date, the Company may make such modifications in the
certificates evidencing (and the form of) the Shares as it deems necessary to reflect the substance of the changes to this Plan relating to the Domestication, but no such modifications shall be necessary to reflect the substance thereof. 

(n) Titles and Headings. The titles and headings of the sections in this Plan are for convenience of reference only. In the event of any
conflict, the text of this Plan, rather than such titles or headings, shall control.

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