Document:

exv10w3

 

Exhibit 10.3

AGREEMENT NOT TO COMPETE

     As a condition to and in consideration of the award by MGIC Investment Corporation (the
“Company”) of shares of Restricted Stock (or Restricted Stock Units) pursuant to the 2002 Stock
Incentive Plan, to the individual signing this Agreement Not to Compete (hereinafter “Employee”),
Employee agrees that he will not render services to any competitor of the Company (a) during the
term of his employment and (b) for a period of one year after the termination of the Employee’s
employment, in the geographic area or areas (localized or national, as the case may be) in which he
was employed, assigned or otherwise worked on behalf of the Company, or a present or future parent,
subsidiary or affiliate of the Company (collectively, “Subsidiary”), during the three years prior
to the termination of his employment.

     For the purposes of this Agreement: (a) the term “competitor” means any company (regardless of
the form of its organization), including a proprietorship (i) engaged in the business of
guaranteeing or insuring mortgages in any geographic area in which the Company or any Subsidiary is
engaged in guaranteeing or insuring mortgages or (ii) engaged in any other business in which the
Company or any Subsidiary is engaged, in any geographic area in which the Company or any Subsidiary
is so engaged, but only if such business accounted for at least 10% of the revenues of the Company
and its subsidiaries, on a consolidated basis, during the twelve months preceding the month in
which the Employee’s employment terminated; and (b) the term “services” means services of the same
or similar nature to any services Employee rendered to the Company or subsidiaries during the
three-year period prior to Employee’s termination of employment.

     The provisions of this Agreement shall bind the Employee and inure to the benefit of the
Company, notwithstanding: (a) any termination of the Restricted Stock Award Agreement associated
with this Agreement, or any forfeiture of the related Restricted Stock (or Restricted Stock Units),
or (b) any issuance of shares to the Employee upon any termination of restrictions applicable to
any Restricted Stock or in settlement of any Restricted Stock Unit.

     The Employee acknowledges that the Company and each Subsidiary are third party beneficiaries
of this Agreement and each one is entitled to enforce the provisions of this Agreement by an action
for injunction, damages or both, and such other relief as may be proper.

     All terms capitalized in this Agreement shall have the respective meanings set forth in the
associated Restricted Stock Agreement, unless otherwise defined herein. The validity and
construction of this Agreement shall be governed by the internal laws of the State of Wisconsin
(excluding the conflict of laws provisions of such laws). This Agreement does not supersede or
modify any other agreement regarding non-competition of which the Company has the benefit.

     Dated: As of this ___day of ___, 200_.

	 	 	 
	

	 	

	

	 	Employee<PAGE>

                                                                    Exhibit 10.1

                 FIRST AMENDMENT TO AMENDED EMPLOYMENT AGREEMENT

      THIS FIRST AMENDMENT TO AMENDED EMPLOYMENT AGREEMENT (the "FIRST
AMENDMENT") is made and entered into effective as of the 27th day of January,
2005, by and between Stratagene Corporation, a Delaware corporation formerly
known as Stratagene Holding Corporation ("EMPLOYER"), and John R. Pouk
("EXECUTIVE").

                                    RECITALS

      WHEREAS, Employer and Executive previously entered into that certain
Amended Employment Agreement, effective as of September 1, 2002 (the "EMPLOYMENT
AGREEMENT"), pursuant to which Executive is employed by Employer as the Senior
Vice President, Global Sales and International Operations; and

      WHEREAS, Employer and Executive desire to amend the Employment Agreement
to modify the bonus compensation payable to Executive under the Employment
Agreement and to terminate an option previously granted to Executive by Employer
upon the terms and subject to the conditions herein provided.

                                    AGREEMENT

      NOW, THEREFORE, in consideration of the foregoing premises and mutual
covenants and conditions hereinafter set forth, the parties hereto agree as
follows:

      1.    Defined Terms. Capitalized terms used herein and not otherwise
defined herein shall have the meanings ascribed to such terms in the Employment
Agreement.

<PAGE>

      2.    Termination of Existing Option. Employer and Executive acknowledge
and agree that the option to purchase 59,550 shares of common stock of Employer
(as adjusted for a subsequent reverse stock split) attached to the Employment
Agreement as Exhibit E-3 is hereby terminated effective as of December 31, 2004
(the "TERMINATED OPTION"), and Executive shall have no further rights with
respect to such Terminated Option.

      3.    Amendments.

            (a) Section 2.2 of the Employment Agreement is hereby deleted and
replaced in its entirety by the following:

                "3.1 Bonus. Commencing with Employer's 2004 fiscal year,
      in addition to the base salary set forth in Section 2.1 above, Executive
      shall be eligible for a bonus, at the sole discretion of Employer's Board
      of Directors, which shall be payable annually in arrears and shall be
      based on attainment of certain financial and other goals established by
      Employer's Board of Directors in their sole discretion."

            (b) Exhibit B of the Employment Agreement is hereby deleted and
replaced in its entirety by the following:

                  "EXHIBIT B                INTENTIONALLY OMITTED."

            (c) Exhibit E-3 of the Employment Agreement is hereby deleted and
replaced in its entirety by the following:

                  "EXHIBIT E-3              INTENTIONALLY OMITTED."

                                       2
<PAGE>

      4.    Continuing Effect. Except as modified in this First Amendment, the
Employment Agreement shall continue in full force and effect in accordance with
its terms. From and hereafter references to the Employment Agreement shall mean
the Employment Agreement, as amended hereby.

      5.    Miscellaneous Clauses.

            (a)   This First Amendment and the Employment Agreement constitute
the entire agreement between the parties hereto pertaining to the subject matter
hereof and fully supersede any and all prior or contemporaneous agreements or
understandings between the parties hereto pertaining to the subject matter
hereof.

            (b)   This First Amendment, including its existence, validity,
construction and operating effect, and the rights of each of the parties hereto,
shall be governed by and construed in accordance with the laws of the State of
California without regard to otherwise governing principles of conflicts of law.

            (c)   This First Amendment may be executed in one or more
counterparts, each of which shall be deemed to be an original copy and all of
which shall constitute one agreement, binding on each of the parties hereto.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       3
<PAGE>

      IN WITNESS WHEREOF, this First Amendment has been executed and delivered
by the parties hereto as of the date first above written.

                                  EMPLOYER:

                                  STRATAGENE CORPORATION,
                                  a Delaware corporation

                                  By:      /s/  RONNI L. SHERMAN
                                           -----------------------------------
                                  Name:    Ronni L. Sherman
                                  Title:   Executive Vice President and General
                                           Counsel

                                  EXECUTIVE:

                                           /s/  JOHN R. POUK
                                  --------------------------------------------
                                  John R. Pouk

                                       4Emerson Electric Co. Exhibit 10.2 to Form 8K

Exhibit 10.2 

February __, _____ 

Director Name
Director Address 

Dear ________: 

I am pleased to advise you that the shareholders approved Emerson’s Directors Restricted Stock Plan. A summary of the Plan and a copy of the complete Plan are attached hereto as Exhibit A for your reference. 

Your restricted stock award under the Plan for this year will be valued at $75,000. Accordingly, your ____ restricted stock grant is ___________ shares of Emerson common stock, based upon a fair market value on February __, ____ of _________ per share. 

Your award of restricted stock under the Plan will need to be reported to the Securities and Exchange Commission on a Form 4 within two business days after the award. The procedures for reporting your award are described in Exhibit B hereto. 

You will not be taxed on the value of the shares until the restrictions lapse UNLESS you elect otherwise by making a Section 83(b) election. However, the dividends you receive on the shares are taxable when received. Instructions on tax reporting that are relevant to this grant and a Section 83(b) election form are attached hereto as Exhibit C. 

Dividends received on your restricted shares may be automatically reinvested in additional shares of Emerson stock through Emerson’s Dividend Reinvestment Plan; however such reinvestment will not impact the taxability of your dividends. You may choose to reinvest all or only a portion of the dividends paid on your Emerson stock. No fees or commissions are charged on the automatic reinvestment of dividends. Additional information on the Dividend Reinvestment Plan can be found on the Company website (www.gotoemerson.com) under the Investor Relations tab. You may contact _______, Director Investor Relations, at _________ for an enrollment form. 

If you have any questions, don't hesitate to call me at __________.

Personal regards, 

Exhibit A 

The principal provisions of the Restricted Stock Plan for Non-Management Directors are as follows: 

	only non-management Directors are eligible to participate;

	the Corporate Governance/Nominating and Public Policy Committee will determine the portion of the annual retainer to be paid each year in restricted stock;

	the number of restricted shares will be based upon the average of the high and low trading prices for Emerson stock reported by the NYSE on the date of award;

	the restricted shares may not be transferred during your tenure on the Board and will be held by our transfer agent, Mellon Investor Services, until the restrictions lapse;

	during the restricted period, you will be entitled to receive all dividends and exercise all voting rights with respect to the restricted shares; and

	the restrictions will lapse, and the shares will vest, upon your death, disability or retirement from the Board, or upon a change in control of Emerson, or when your tenure on the Board ends for any other reason unless a majority of the members of the Corporate Governance/Nominating and Public Policy Committee determine that you have acted in a manner that is detrimental to Emerson's interests or reputation, or have failed to fulfill your responsibilities in a satisfactory manner. 

[Emerson Electric Co.] 
[Restricted Stock Plan for Non-Management Directors] 

[incorporated by reference to Exhibit 10.1 hereto] 

Exhibit B 

INSTRUCTIONS FOR 2005 RESTRICTED STOCK GRANT – SEC 

	A.	SEC Reporting

	  	Under SEC rules the grant to you of _____ shares of Emerson common stock on February __, _____ was an exempt transaction under Section 16(b) but is reportable under Section 16(a) on Form 4. Your Form 4 is due by close-of-business on February __, _____. We will file a Form 4 on your behalf pursuant to the power of attorney granted by you to ________. You will receive a draft of your Form 4 by e-mail or fax by the end of the day on February __, ____. You will need to review the information on the draft Form 4 immediately, paying particular attention to the column indicating your total holdings of Emerson Electric Co. common stock, and notify ______ at ____________ or by return e-mail by 10:00 a.m. CST on February __, ____ that you agree with the information on the Form or indicating any changes you believe may be required. Upon receipt of your consent to file the Form 4, we will file the Form electronically as required by the Securities
and Exchange Commission, and with the New York Stock Exchange. 

	B.	SEC Trading Constraints 

	  	Under SEC rules this grant is an exempt transaction under SEC Rule 16(b) and will not be matchable against other transactions. 

Exhibit C 

RESTRICTED STOCK GRANT 

TAX ELECTION INSTRUCTIONS FOR ____ 

The restrictions on your _________ shares of restricted stock granted February __, ____,
 will lapse and the shares will vest at the time you retire as a director of Emerson, or in the event of your death or disability or a change
 in control of Emerson while you are an Emerson director. If your tenure as a director ends for any other reason, the restrictions will lapse
and the shares will vest unless a majority of the members of the Corporate Governance/Nominating and Public Policy Committee determine that you have not fulfilled your responsibilities to the Company or have acted in a manner detrimental to the Company. Because of the restrictions, the grant is generally not taxable until the shares vest, at which time they will be fully taxable to you as compensation based upon the per share value as of such date. You may, however, make a “Section 83(b)” election, in which event the shares will be fully taxable to you as current compensation based upon
licy the per share value as of the date of grant. A sample Section 83 (b) election form and instructions for making the election are attached. Please note that the election must be filed with the Internal Revenue Service office where you file your return within 30 days after the date the shares are granted. (Since the shares were granted to you on February __, ____, you must file the election no later than March __, ____.) 

Any dividends paid to you on such shares are taxable as ordinary income in the year of payment and will be subject to self-employment tax unless you have made a Section 83(b) election. 

We recommend that you consult with your tax advisor regarding the availability of making a Section 83(b) election. 

Instructions for Filing Section 83(b) Election 

	1. 	
File one copy with _______________ of Emerson Electric Co. and one copy with the Internal Revenue Service office where you file your return within 30 days after the property is transferred (the date of the Restricted Stock Grant). 

	2. 	
File one copy with your federal income tax for the taxable year with respect to which the election is being made. 

Election to Include Value of Restricted Stock Grant
In Gross Income Under 83(b) of the Internal Revenue Code 

The undersigned hereby elects pursuant to 83(b) of the Internal Revenue Code of 1986, as amended, to include the value of the property described below in gross income and supplies the following information in accordance with the regulations promulgated thereunder: 

	1. 	
The name, address and taxpayer identification number of the undersigned are: 

	2. 	
Description of property with respect to which the election is being made: _______ (____) shares of Common Stock, par value $0.50 per share, of Emerson Electric Co. 

	3. 	
The date on which property was transferred is ___________ and the taxable year for which the election is made is ___________________.

	4. 	
The nature of the restriction(s) to which the property is subject is:

	  	If the service of the undersigned as a director of Emerson Electric Co. is terminated for any reason other than your retirement, death or disability or a change of control of Emerson Electric Co., and the Corporate Governance/Nominating and Public Policy Committee of Emerson Electric Co. determines that the undersigned has acted in a manner detrimental to Emerson Electric Co. or has failed to fulfill his responsibilities to Emerson Electric Co., then the undersigned shall forfeit the property back to Emerson Electric Co. 

	5. 	
Fair Market Value:

	  	The fair market value at the time of transfer (determined without regard to any restrictions other than restrictions which, by their terms, will never lapse) is $___________ per share. 

	6. 	
Amount paid for property:

	 	
The amount paid for said property is $0. 

	7.	
Furnishing statement to employee:

	 	
A copy of this statement has been furnished to Emerson Electric Co.

	 	
Dated: __________________

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