Document:

exv10w41

Exhibit 10.41

SEPARATION AND RELEASE AGREEMENT BETWEEN BOOKHAM, INC., AVANEX CORPORATION AND

GIOVANNI BARBAROSSA

     This Separation and Release Agreement (this “Agreement”) is entered into as of this                      day
of                     , 2009, by and between Bookham Incorporated, a Delaware corporation (“Parent”),
Avanex Corporation, a Delaware corporation (the “Company) and Giovanni Barbarossa (“Executive”).

     Parent, Company and Executive hereby agree as follows:

     1. The employment relationship between the Executive and the Company and its subsidiaries and
affiliates, as applicable, terminated on                     , 200___(the “Termination Date”).

     2. In settlement of amounts owed under Section 4(a) of the Change in Control Agreement between
the Company and the Executive dated as of November 28, 2008 (the “Change in Control Agreement”),
the Executive shall receive:

          (a) a lump sum cash payment equal to the sum of (i) one year of Executive’s annual base salary
as of the Termination Date (which shall not be less than $360,000) and (ii) a pro-rata portion of
Executive’s target annual incentive award (equal to at least 60% of his annual base salary)
determined by multiplying such target annual incentive award by a fraction, the numerator of which
is the number of days in the current fiscal year of the Company through the Termination Date, and
the denominator of which is 365; and

          (b) the health coverage and benefits described in Section 4(a)(iv) of the Change in Control
Agreement; and

The cash payments described in this Section 2 shall be made no later than ten (10) days after the
expiration of the revocation period described in Section 8 of this Agreement.

     3. In consideration of the payments and benefits provided hereunder, the sufficiency of which
the Executive hereby acknowledges, the Executive, on behalf of the Executive and the Executive’s
heirs, executors and assigns, hereby releases and forever discharges the Company and its members,
parents, affiliates, subsidiaries, divisions, any and all current and former directors, officers,
employees and agents, from all claims, charges, or demands, in law or in equity, whether known or
unknown, which may have existed or which may now exist from the beginning of time to the date of
this Agreement, including, without limitation, any claims the Executive may have arising from or
relating to the Executive’s employment or termination from employment with the Company, including a
release of any rights or claims the Executive may have under Title VII of the Civil Rights Act of
1964, as amended, and the Civil Rights Act of 1991 (which prohibit discrimination in employment
based upon race, color, sex, religion, and national origin); the Americans with Disabilities Act of
1990, as amended, and the Rehabilitation Act of 1973 (which prohibit discrimination based upon
disability); the Family and Medical Leave Act of 1993 (which prohibits discrimination based on
requesting or taking a family or medical leave); Section 1981 of the Civil Rights Act of 1866
(which prohibits discrimination based upon race); Section 1985(3) of the Civil Rights Act of 1871
(which prohibits conspiracies to discriminate); the Employee Retirement Income Security Act of
1974, as amended (which prohibits discrimination with regard to benefits); and any other federal,
state or local laws against discrimination; or any other federal, state, or local statute, or
common law relating to employment, wages, hours, or any other terms and conditions of employment.
This includes a release by the Executive of any claims for wrongful discharge, breach of contract,
torts or any other claims in any way related to the Executive’s employment with or resignation or
termination from the Company and its subsidiaries and affiliates, as applicable.

          This release also includes a release of any claims for age discrimination under the Age
Discrimination in Employment Act, as amended (“ADEA”). The ADEA requires that the Executive be
advised to consult with an attorney before the Executive waives any claim under ADEA. In addition,
the ADEA provides the Executive with at least 21 days to decide whether to waive claims under ADEA
and seven days after the Executive signs the Agreement to revoke that waiver.

          This release does not release Parent or the Company from any obligations concerning any
remaining rights the Executive has pursuant to the Consulting Agreement between the parties dated
as of January 27, 2009 (the “Consulting Agreement”), the Change of Control Agreement, under this
Agreement, or under any other Company Arrangement (as described in the Consulting Agreement),
including, without limitation, any rights to indemnification and/or advancement of expenses by the
Company or its affiliates pursuant to the Company’s (or any affiliate’s) corporate documents or
applicable law, or coverage under any applicable directors’ and officers’ liability insurance
policies. This release does not release claims that cannot be released as a matter of law,
including, but not limited to, Executive’s right to file a charge with or participate in a charge
by the Equal Employment Opportunity Commission.

          Additionally, the Company agrees to discharge and release the Executive and the Executive’s
heirs from any claims, demands, and/or causes of action whatsoever, presently known or unknown,
that are based upon facts or acts occurring prior to the date of this Agreement, including, but not
limited to, any claim, matter or action related to the Executive’s employment or affiliation with,
or termination or separation from the Company; provided that such release shall not release the
Executive with respect to any act by the Executive which is proven to be a felony under U.S.
Federal or applicable state law and which relates to the business of the

 

 

Company or any of its subsidiaries. As of the date of this Agreement, the Company represents
that it knows of no act by the Executive which would be deemed to be a felony under U.S. Federal or
applicable state law which relates to the business of the Company. Nothing in this Release is
intended to waive or release Consultant from any and all obligations to Company or Parent under any
confidentiality, proprietary information or non-disclosure agreement, or any obligation created by
statutory or common law to protect any intellectual property or proprietary information of Company
or Parent.

     4. This Agreement is not an admission by either the Executive or the Company of any wrongdoing
or liability.

     5. The Executive waives any right to reinstatement or future employment with the Company and
its subsidiaries and affiliates following the Executive’s separation from the Company and its
subsidiaries and affiliates on the Termination Date. Nothing herein shall prevent the Executive
from providing services to the Company pursuant to the Consulting Agreement.

     6. This Agreement shall be governed by and construed in accordance with the laws of the State
of California, without reference to the principles of conflict of laws. Exclusive jurisdiction
with respect to any legal proceeding against Executive, Parent, Company, or any successor or assign
brought concerning any subject matter contained in this Agreement shall be settled by arbitration
as provided in the Change of Control Agreement.

     7. Each of the sections contained in this Agreement shall be enforceable independently of
every other section in this Agreement, and the invalidity or non-enforceability of any section
shall not invalidate or render unenforceable any other section contained in this Agreement.

     8. It is further understood that for a period of 7 days following the execution of this
Agreement in duplicate originals, the Executive may revoke this Agreement, and this Agreement shall
not become effective or enforceable until the revocation period has expired. No revocation of this
Agreement by the Executive shall be effective unless the Company has received, within the 7-day
revocation period, written notice of his revocation of this Agreement.

     9. This Agreement has been entered into voluntarily and not as a result of coercion, duress,
or undue influence. The Executive acknowledges that the Executive has read and fully understands
the terms of this Agreement and has been advised to consult with an attorney before executing this
Agreement. Additionally, the Executive acknowledges that the Executive has been afforded the
opportunity of at least 21 days to consider this Agreement.

     Consultant is over the age of forty (40) years, and in accordance with the Age Discrimination
in Employment Act and Older Workers’ Benefit Protection Act (collectively, the “Act”), he
acknowledges that:

	 	(a)	 	He has been advised in writing to consult with an attorney prior to executing this
Release, and has had the opportunity to do so;
	 
	 	(b)	 	He is aware of certain rights to which he may be entitled under the Act;
	 
	 	(c)	 	In exchange for executing this Release, Consultant will receive severance pay to which
he would otherwise not be entitled, and in addition to the compensation and benefits that
he earned as an employee of Company;
	 
	 	(d)	 	By signing this Agreement, he will not waive rights or claims under the Act which may
arise after the execution of this Agreement;
	 
	 	(e)	 	He has been given a period of at least 21 days to consider this Release, and
understands that if he does not sign this Release he will not receive the severance pay
described in paragraph 2 above; and
	 
	 	(f)	 	Executive further acknowledges that he has a period of seven days from the date of
execution in which to revoke this Release by written notice to Kathy Zwickert, Parent’s VP
of HR. In the event Consultant does not exercise his right to revoke this Release, the
Release shall become effective on the date immediately following the seven day revocation
period described above.

     The parties to this Agreement have executed this Agreement as of the day and year first written above.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	BOOKHAM INCORPORATED	 	 	 	 	 	 	 	 
	 

	 	By:  
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	 
 

	 	 	 	Title:
	 	 
 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	AVANEX CORPORATION	 	 	 	 	 	 	 	 
	 

	 	By:  
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	 
 

	 	 	 	Title:
	 	 
 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	GIOVANNI BARBAROSSAexv10w45

Exhibit 10.45

FORM OF STOCK OPTION AGREEMENT BETWEEN AVANEX AND CERTAIN OF ITS DIRECTORS

Avanex Corporation, (the Company), has granted to [___] (the Optionee), an option to purchase a
total of [___] shares of the Company’s Common Stock (the Optioned Stock), at the price determined
as provided herein, and in all respects subject to the terms, definitions and provisions of the
Company’s 1999 Director Option Plan (the Plan) adopted by the Company which is incorporated herein
by reference. The terms defined in the Plan shall have the same defined meanings herein.

	1)	 	Nature of the Option. This Option is a nonstatutory option and is not intended to
qualify for any special tax benefits to the Optionee.
	 
	2)	 	Exercise Price. The exercise price is $[___] for each share of Common Stock.
	 
	3)	 	Exercise of Option. This Option shall be exercisable during its term in accordance
with the provisions of Section 8 of the Plan as follows:

	 	i)	 	Right to Exercise.

	 	a)	 	This Option shall vest and become exercisable as to one-hundred percent (100%) of
the Shares subject to the Option on the one year anniversary of its date of grant,
provided that the Optionee continues to serve as a Director on such date.
	 
	 	b)	 	In no event shall any Option be exercisable prior to the date the stockholders of
the Company approve the Plan.
	 
	 	c)	 	This Option may not be exercised for a fraction of a share.
	 
	 	d)	 	In the event of Optionee’s death, disability or other termination of service as a
Director, the exercisability of the Option is governed by Section 8 of the Plan.

	 	ii)	 	Method of Exercise. This Option shall be exercisable by written notice, which
shall state the election to exercise the Option and the number of Shares in respect of
which the Option is being exercised. Such written notice, in the form attached hereto as
Exhibit A, shall be signed by the Optionee and shall be delivered in person or by certified
mail to the Secretary of the Company. The written notice shall be accompanied by payment
of the exercise price.

	4)	 	Method of Payment. Payment of the exercise price shall be by any of the following,
or a combination thereof, at the election of the Optionee:

	 	i)	 	cash;
	 
	 	ii)	 	check; or
	 
	 	iii)	 	surrender of other shares which (x) in the case of Shares acquired upon exercise of an
Option, have been owned by the Optionee for more than six (6) months on the date of
surrender, and (y) have a Fair Market Value on the date of surrender equal to the aggregate
exercise price of the Shares as to which said Option shall be exercised; or
	 
	 	iv)	 	delivery of a properly executed exercise notice together with such other documentation
as the Company and the broker, if applicable, shall require to effect an exercise of the
Option and delivery to the Company of the sale or loan proceeds required to pay the
exercise price.

	5)	 	Restrictions on Exercise. This Option may not be exercised if the issuance of such
Shares upon such exercise or the method of payment of consideration for such shares would
constitute a violation of any applicable federal or state securities or other law or
regulations, or if such issuance would not comply with the requirements of any stock exchange
upon which the Shares may then be listed. As a condition to the exercise of this Option, the
Company may require Optionee to make any representation and warranty to the Company as may be
required by any applicable law or regulation.
	 
	6)	 	Non-Transferability of Option. This Option may not be transferred in any manner
otherwise than by will or by the laws of descent or distribution and may be exercised during
the lifetime of Optionee only by the Optionee. The terms of this Option shall be binding upon
the executors, administrators, heirs, successors and assigns of the Optionee.
	 
	7)	 	Term of Option. This Option may not be exercised more than ten (10) years from the
date of grant of this Option, and may be exercised during such period only in accordance with
the Plan and the terms of this Option.
	 
	8)	 	Taxation Upon Exercise of Option. Optionee understands that, upon exercise of this Option, he or she will recognize income
for tax purposes in an amount equal to the excess of the then Fair Market Value of the Shares
purchased over the exercise price paid for such Shares. Since the Optionee is subject to
Section 16(b) of the Securities Exchange Act of 1934, as amended, under certain limited
circumstances the
measurement and timing of such income (and the commencement of any capital gain holding period)
may be deferred, and the Optionee is advised to contact a tax advisor concerning the application
of Section 83 in general and the

 

 

	 	 	availability a Section 83(b) election in particular in
connection with the exercise of the Option. Upon a resale of such Shares by the Optionee, any
difference between the sale price and the Fair Market Value of the Shares on the date of
exercise of the Option, to the extent not included in income as described above, will be treated
as capital gain or loss.

DATE OF GRANT: [___]

	 	 	 	 	 
	 	Avanex Corporation,

a Delaware corporation

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 
	 

Optionee acknowledges receipt of a copy of the Plan, a copy of which is attached hereto, and
represents that he or she is familiar with the terms and provisions thereof, and hereby accepts
this Option subject to all of the terms and provisions thereof. Optionee hereby agrees to accept
as binding, conclusive and final all decisions or interpretations of the Board upon any questions
arising under the Plan.

	 	 	 	 	 	 	 	 	 
	 

	 	Dated:
	 	 
 

	 	 
 

Optionee
	 	 

EXHIBIT A — DIRECTOR OPTION EXERCISE NOTICE

Avanex Corporation

Attention: Corporate Secretary

	1)	 	Exercise of Option. The undersigned (the Optionee) hereby elects to exercise
Optionee’s option to purchase                                 shares of the Common Stock (the Shares) of Avanex
Corporation (the Company) under and pursuant to the Company’s 1999 Director Option Plan and
the Director Option Agreement dated                      (the Agreement).
	 
	2)	 	Representations of Optionee. Optionee acknowledges that Optionee has received, read
and understood the Agreement.
	 
	3)	 	Federal Restrictions on Transfer. Optionee understands that the Shares must be held
indefinitely unless they are registered under the Securities Act of 1933, as amended (the 1933
Act), or unless an exemption from such registration is available, and that the certificate(s)
representing the Shares may bear a legend to that effect. Optionee understands that the
Company is under no obligation to register the Shares and that an exemption may not be
available or may not permit Optionee to transfer Shares in the amounts or at the times
proposed by Optionee.
	 
	4)	 	Tax Consequences. Optionee understands that Optionee may suffer adverse tax
consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee
represents that Optionee has consulted with any tax consultant(s) Optionee deems advisable in
connection with the purchase or disposition of the Shares and that Optionee is not relying on
the Company for any tax advice.
	 
	5)	 	Delivery of Payment. Optionee herewith delivers to the Company the aggregate
purchase price for the Shares that Optionee has elected to purchase and has made provision for
the payment of any federal or state withholding taxes required to be paid or withheld by the
Company.
	 
	6)	 	Entire Agreement. The Agreement is incorporated herein by reference. This Exercise
Notice and the Agreement constitute the entire agreement of the parties and supersede in their
entirety all prior undertakings and agreements of the Company and Optionee with respect to the
subject matter hereof. This Exercise Notice and the Agreement are governed by California law
except for that body of law pertaining to conflict of laws.

	 	 	 	 	 	 	 	 	 
	Submitted by:	 	Accepted by:	 	 
	OPTIONEE:	 	AVANEX CORPORATION	 	 
	By:  
	 	By:  
	 	 
	 

	 	 

	 	 	 	 

	 	 
	Address:	 	Its: 
	 	 
	 

	 	 	 	 	 	 

	 	 
	Dated:

	 	 	 	Dated:

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