Document:

Ex 10.2 Description of Amendment to Employment Letter EBA

EXHIBIT 10.2

DESCRIPTION OF AMENDMENT TO EMPLOYMENT LETTER

On November 1, 2010, an original offer letter was provided to Eshel Bar-Adon and subsequently amended. The summary below represents the understanding of the parties as of July 1, 2012 with respect to employment of Mr. Bar-Adon:

		
	•
	Base compensation: $190,000 per year, reviewed annually;

		
	•
	Annual bonus target of 30% of annual salary payable in any combination of cash or restricted stock units of common stock of BofI Holding, Inc. (“RSUs”) with performance evaluated and bonus paid semi-annually. The amount of the bonus may be reduced to zero or increased above 30% for outstanding performance at any time based solely upon the judgment and discretion of the CEO or the Board.  The RSUs granted for bonus will vest over future employment service, generally within three years, and the mix of cash and RSUs may change at the discretion of the CEO or the Board.  

		
	•
	Severance, in the event employment is terminated by the Bank or the Bank’s successor other than for cause (as defined below), the Bank shall pay the then current bi-weekly salary for 12 months from the date of termination and any outstanding unvested equity incentive awards shall become immediately and fully vested, subject to signature of a waiver of any and all claims of any kind or nature against the Bank and its Board. 

For purposes of this severance payment, a termination for cause is a termination by reason of:  

		
	i.
	material failure to perform or habitual neglect of material duties and which, for any such failure that is remediable, or can be cured going forward, is not remedied or cured within a reasonable period of time after notification of such failure;

		
	ii.
	conviction by a court of competent jurisdiction of a felony involving acts of fraud, embezzlement, dishonesty or moral turpitude which materially adversely affects Bank's reputation in the community or which evidences lack of moral fitness;

		
	iii.
	commitment of an act which causes termination of coverage under Bank's Banker Blanket Bond as to you personally, as distinguished from termination of coverage as to the Bank as a whole or as to other officers of the Bank;

		
	iv.
	if Bank is closed or taken over by any of the bank regulatory authorities having jurisdiction over Bank's activities as a result of actions taken by you; or 

		
	v.
	if any bank regulatory authority should successfully exercise its cease and desist power to remove you from office; and 

		
	vi.
	the termination for cause reasons set forth in 12 C.F.R. § 563.39(b)(l).Ex 10.3 Description of Amendment to Employment Letter AVZ

EXHIBIT 10.3

DESCRIPTION OF AMENDMENT TO EMPLOYMENT LETTER

On May 5, 2010, an original offer letter was provided to Adriaan van Zyl and subsequently amended. The summary below represents the understanding of the parties as of July 1, 2012 with respect to employment of Mr. van Zyl [Note: Mr. van Zyl resigned on January 3, 2014]:

		
	•
	Base compensation: $220,000 per year, reviewed annually;

		
	•
	Annual bonus target of 30% of annual salary payable in any combination of cash or restricted stock units of common stock of BofI Holding, Inc. (“RSUs”) with performance evaluated and bonus paid semi-annually. The amount of the bonus may be reduced to zero or increased above 30% for outstanding performance at any time based solely upon the judgment and discretion of the CEO or the Board.  The RSUs granted for bonus will vest over future employment service, generally within three years, and the mix of cash and RSUs may change at the discretion of the CEO or the Board.    

		
	•
	Severance, in the event of a change of control, during the term of employment.  If within two (2) years after a Change in Control, employment is terminated by the Bank of the Bank’s successor other than for Cause then the Bank shall pay a single severance payment as soon as practicable after the termination, but in no event later than thirty (30) days thereafter, an amount of cash equal to one year of then current base salary and any outstanding unvested equity incentive awards shall become immediately and fully vested. 

For purposes of this severance payment, a termination for cause is a termination by reason of:

		
	i.
	material failure to perform or habitual neglect of material duties and which, for any such failure that is remediable, or can be cured going forward, is not remedied or cured within a reasonable period of time after notification of such failure;

		
	ii.
	conviction by a court of competent jurisdiction of a felony involving acts of fraud, embezzlement, dishonesty or moral turpitude which materially adversely affects Bank's reputation in the community or which evidences your lack of moral fitness;

		
	iii.
	commitment of an act which causes termination of coverage under Bank's Banker Blanket Bond as to you personally, as distinguished from termination of coverage as to the Bank as a whole or as to other officers of the Bank;

		
	iv.
	if Bank is closed or taken over by any of the bank regulatory authorities having jurisdiction over Bank's activities as a result of actions taken by you; or 

		
	v.
	if any bank regulatory authority should successfully exercise its cease and desist power to remove you from office; and 

		
	vi.
	the termination for cause reasons set forth in 12 C.F.R. § 563.39(b)(l).

For purposes of this change of control severance payment, a "change in control" shall occur in any of the following circumstances:

		
	i.
	Fifty-one percent (51%) or more of the outstanding voting stock of BofI Holding, Inc., the Bank's parent company, as of the date of this Agreement is acquired or beneficially acquired (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended, or any successor rule thereto) by any person or entity in a transaction other than a public offering of the voting stock of BofI Holding, Inc., or a new equity offering in exchange for stock of BofI Holding, Inc.;

		
	ii.
	BofI Holding, Inc. is merged or consolidated with or into another corporation and the current shareholders or any person who obtains shares through the estate or personal administrator of any current BofI Holding, Inc.’s shareholder, in the aggregate, hold less than fifty percent (50%) of the voting stock of the surviving entity or its parent corporation immediately after the merger or consolidation; or 

		
	iii.
	All or substantially all of the assets of BofI Holding, Inc. are sold or otherwise transferred to any person or entity in one transaction or a series of transactions.

		
	•
	Three (3) weeks of annual vacation per year.Ex 10.4 Description of Amendment to Employment Letter BS

EXHIBIT 10.4

DESCRIPTION OF AMENDMENT TO EMPLOYMENT LETTER

On January 19, 2010, an original offer letter was provided to Brian Swanson and subsequently amended. The summary below represents the understanding of the parties as of July 1, 2012 with respect to employment of Mr. Swanson:

		
	•
	Base compensation: $165,000 per year, reviewed annually;

		
	•
	Annual bonus target of 30% of annual salary payable in any combination of cash or restricted stock units of common stock of BofI Holding, Inc. (“RSUs”) with performance evaluated and bonus paid semi-annually. The amount of the bonus may be reduced to zero or increased above 30% for outstanding performance at any time based solely upon the judgment and discretion of the CEO or the Board.  The RSUs granted for bonus will vest over future employment service, generally within three years, and the mix of cash and RSUs may change at the discretion of the CEO or the Board.EX 10.35_GF_Amendment3

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

	
	
	Amendment No. 3 to GLOBALFOUNDRIES-INTERMOLECULAR CDP Agreement dated 2011/06/01

Amendment No. 3 
to the Collaborative Development Program Agreement 
GLOBALFOUNDRIES and Intermolecular

WHEREAS GLOBALFOUNDRIES Inc., an exempted company incorporated under the laws of the Cayman Islands, and having a registered address at PO Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands (hereinafter referred to as "GLOBALFOUNDRIES" or “GF”) and INTERMOLECULAR, INC., a Delaware corporation located at 3011 North First Street, San Jose, California 95134 (hereinafter referred to as "Intermolecular" or “IM”) entered into a Collaborative Development Program agreement with an effective date of June 1, 2011 (“CDP Agreement”).   

WHEREAS the CDP Agreement was subsequently amended with an effective date of April 22, 2012 (“Amendment No. 1”).  

WHEREAS the CDP Agreement was subsequently amended with an effective date of July 1, 2013 (“Amendment No. 2”).  

WHEREAS GLOBALFOUNDRIES and Intermolecular wish to modify the terms of the CDP Agreement (as amended by Amendment No. 1 and Amendment No. 2) by this Amendment No. 3 (this Amendment No. 3 hereinafter referred to as “Amendment”).

NOW THEREFORE, in consideration for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, GLOBALFOUNDRIES and Intermolecular agree to modify the terms of the CDP Agreement, as amended, as follows.

		
	1.
	EFFECTIVE DATE

This Amendment shall be effective on the last date of the signatures of the authorized representatives below (“Amendment Effective Date”).

		
	2.
	MODIFY SECTION 2.11

Section 2.11 of the CDP Agreement is deleted in its entirety and replaced with the following:

2.11 Period of development activities in the Development Plan. The initial period of all development activities in the Development Plan (“Initial Period” or “CDP Term”) shall expire on January 31, 2014 (“Expiration Date”).  GF and IM agree in good faith to meet during Q4 CY2014 to discuss further opportunities for collaboration. 

Such expiration shall not impact termination of the Agreement which shall be solely governed by Section 11 (“Termination”).
 
		
	3.
	MODIFY SECTION 6.1 

Sections 6.1 of the CDP Agreement is deleted in its entirety and replaced with the following:

6.1 CDP Service Fees.    During the CDP Term, in consideration of services rendered, IM shall invoice GF as follows:

		
	(a)
	Q2 CY2011:  $[***] (pro-rated for Q2 CY2011)

    
	
			
	Page 1 of 3
	Confidential Information
	Thursday, January 23, 2014

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

	
	
	Amendment No. 3 to GLOBALFOUNDRIES-INTERMOLECULAR CDP Agreement dated 2011/06/01

		
	(b)
	Q3 CY2011:  $[***] 

		
	(c)
	Q4 CY2011:  $[***] 

		
	(d)
	For each quarter beginning Q1 CY2012 and ending Q2 CY2013:   $[***] 

		
	(e)
	For each quarter beginning Q3 CY2013 and ending Q4 CY2013:  $[***]

		
	(f)
	For CDP services in CY2014 prior to the Expiration Date:  $[***] 

With the exception of an invoice issued pursuant to 6.1(f), IM shall invoice GF on the first day of each quarter.  Invoices pursuant to 6.1(a), 6.1(b) and 6.1(c) above shall be payable no sooner than [***] and no later than [***].  The invoice pursuant to 6.1(f) above shall be payable no later than [***].  All other invoices shall be paid no later than forty-five (45) days from the invoice date.  In addition to the amounts set forth above, GF agrees to provide or pay for mutually agreed and pre-approved (by GF) out-of-pocket expenses including [***] and [***], and other expenses to support the CDP Services.  Prior to the beginning of each Project, the Project Managers will estimate out-of-pocket expenses, for each Project under the Development Plan, and establish a forecast for the total out-of-pocket expense budget for such Project.  Notwithstanding the foregoing, beginning in the calendar year [***], GLOBALFOUNDRIES shall not be responsible for payment of [***] of the first [***] of out-of-pocket expenses incurred each calendar year during the remainder of the CDP Term.

		
	4.
	MODIFY SECTION 6.6

Section 6.6 of the CDP Agreement is deleted in its entirety and replaced with the following:

6.6 Minimum Royalty Payments starting in [***].  Notwithstanding the foregoing royalty calculations in Section 6.3, and beginning in [***], GF shall pay IM an annual minimum of $[***] in exchange for the licenses granted by IM to GF and GF’s Affiliates in Section 3.6.  Quarterly minimum payments of $[***] shall be due and payable by GF at the end of each calendar quarter beginning in the first quarter of [***] and ending in the last quarter of [***].  The minimum royalty payments for [***] shall be paid by GF in a one-time payment of $[***] to be made no later than [***].  No minimum royalty payments shall be due thereafter.    

		
	5.
	MODIFY SECTION 6.12

Section 6.12 of the CDP Agreement is deleted in its entirety and replaced with the following:

6.12 Payments and Reporting on Royalties.  The accounting periods under this Agreement shall be on a calendar quarter basis ending on each March 31, June 30, September 30, and December 31 of each year, with the first accounting period ending on the end of the first such calendar quarter beginning in the first quarter of [***].  Within [***] days after the end of each accounting period, GF shall furnish to IM a written report, certified by a duly authorized officer of GF stating the computed royalties due, if any, and the royalty payment due shall accompany such written report.  The written report shall set forth the number of Project Products Commercialized, the associated Category in accordance with Section 6.3., the associated revenues and such other information as may be necessary to enable the calculation of royalties due under this Agreement.  If no computed royalties are due, the basis for such conclusion shall be set forth in the written report and the minimum payment in accordance with Section 6.6 shall accompany such report.

    
	
			
	Page 2 of 3
	Confidential Information
	Thursday, January 23, 2014

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

	
	
	Amendment No. 3 to GLOBALFOUNDRIES-INTERMOLECULAR CDP Agreement dated 2011/06/01

		
	6.
	MISCELLANEOUS

This Amendment shall be deemed to be incorporated into the CDP Agreement and made a part thereof.  All references to the CDP Agreement in any other document shall be deemed to refer to the CDP Agreement as modified by this Amendment. Except as modified by this Amendment, all of the terms and conditions of the CDP Agreement shall remain in full force and effect. In the event that the terms of this Amendment conflict with the terms of the CDP Agreement, the terms of this Amendment shall control.
 
		
	7.
	EXECUTION

This Amendment may be executed in any number of counterpart originals, each of which shall be deemed an original instrument for all purposes, but all of which shall comprise one and the same instrument.  This Amendment may be delivered by electronic mail or facsimile, and a scanned version of this Amendment shall be binding as an original.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by
their duly authorized representatives:

GLOBALFOUNDRIES Inc.    Intermolecular, Inc.

Date:    31st January 2014                Date:     February 3, 2014

Name:    /s/ Ong Beng Choo                Name:    /s/ David E. Lazovsky

(Print)    Ong Beng Choo                    (Print)    David E. Lazovsky

Title:    Director, FP&A                    Title:    President and CEO

    
	
			
	Page 3 of 3
	Confidential Information
	Thursday, January 23, 2014

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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