Document:

Amendment #1, effective July 1, 2010, to the Con Edison Long-Term Incentive Plan

 Exhibit 10.1 

AMENDMENT #1 
 TO
THE CONSOLIDATED EDISON, INC. 
 Long Term Incentive Plan 

Effective May 19, 2003 

As amended and restated effective January 1, 2008 

Effective July 1, 2010 

 Consolidated Edison, Inc. 

Pursuant to the resolution adopted by the Board of Directors of Consolidated Edison, Inc., at a meeting duly held on February 18,
2010, the undersigned hereby approves effective July 1, 2010, the amendment set forth below to the Consolidated Edison, Inc. Long Term Incentive Plan, effective May 19, 2003, as amended and restated effective, January 1, 2008.

 ARTICLE 7. STOCK UNIT GRANTS TO DIRECTOR PARTICIPANTS is amended as follows: 

1. Section 7.3 Annual Grants is replaced in its entirety with the following: 

Section 7.3 Annual Grants. Effective May 19, 2003, through May 15, 2005, each Director Participant will be granted
1,300 Stock Units on the first business day after each Annual Meeting. Effective May 16, 2005, through June 30, 2010, the number of Stock Units granted to each Director Participant be increased to 1,500. Effective July 1, 2010, each
Director Participant will be granted annual Stock Units valued at $90,000 on the first business day after each Annual Meeting. The actual number of Stock Units granted will be based on the closing price of a Share of Common Stock in the Consolidated
Reporting System as reported in the Wall Street Journal or in a similarly readily available public source for the trading day on the day of the Annual Meeting. If no trading of Shares of Common Stock occurred on such date, the closing price of a
Share of Common Stock in such System as reported for the preceding day on which sales of Shares of Common Stock traded shall be used. The amount determined will be rounded to the nearest whole Stock Unit. 

If a Director Participant is first appointed as a member of the Board on or after May 19, 2003, but before May 16, 2005, and is
appointed after the Annual Meetings, his or her first annual grant of Stock Units (rounded to the nearest one hundred Stock Units) will be determined by multiplying 1,300 by the result from dividing the number of months before the next Annual
Meeting by twelve; provided that for the purpose of this calculation the numerator shall exclude the month in which the effective date of the Director’s appointment occurs and shall include the month in which the next Annual Meeting occurs. If
a Director Participant is first appointed as a member of the Board on or after May 16, 2005, but before July 1, 2010, and is appointed after the Annual Meetings, his or her first annual grant of Stock Units (rounded to the nearest one
hundred Stock Units) will be determined by multiplying 1,500 by the result from dividing the number of months before the next Annual Meeting by twelve; provided that for the purpose of this calculation the numerator shall exclude the month in which
the effective date of the Director’s appointment occurs and shall include the month in which the next Annual Meeting occurs. If a Director Participant is first 

 
appointed as a member of the Board on or after July 1, 2010, and is appointed after the Annual Meetings, his or her first annual grant of Stock Units will be determined by multiplying
$90,000 by the result from dividing the number of months before the next Annual Meeting by twelve; provided that for the purpose of this calculation the numerator shall exclude the month in which the effective date of the Director’s appointment
occurs and shall include the month in which the next Annual Meeting occurs. The actual number of Stock Units granted will be based on the closing price of a Share of Common Stock in the Consolidated Reporting System as reported in the Wall Street
Journal or in a similarly readily available public source for the trading day on the day before the Director was first appointed as a member of the Board and will be rounded to the nearest whole Stock Unit. If no trading of Shares of Common Stock
occurred on such date, the closing price of a Share of Common Stock in such System as reported for the preceding day on which sales of Shares of Common Stock traded shall be used. The Board, upon recommendation of the Corporate Governance and
Nominating Committee, may from time-to-time change the annual grant. 
 IN WITNESS WHEREOF, the undersigned has executed this
instrument this      day of June, 2010. 
  

	
	  

	Mary Adamo
	Vice President – Human Resources
	Consolidated Edison Company of New York, Inc.Description of Directors' Compensation

 Exhibit 10.2 

Description of Directors’ Compensation 

The following tables show, effective as of July 1, 2010, the annual retainer amounts and committee meeting fees payable, in
quarterly installments, to the members of the Board of Directors of Consolidated Edison, Inc. (the “Company”): 
  

									
	Annual Retainer
for 
each
Member of the
Board	 	Annual Retainer
for the
Lead
Director and the
Chair of the Audit
Committee	 	Annual Retainer for each of
the Chairs of the Corporate
Governance and Nominating,
and the
Management
Development and
Compensation Committees	 	Annual Retainer for each
of the
Chairs of the
Environment, Health &
Safety, Finance,
Operations Oversight and
Planning Committees	 	Annual Retainer
for each
Member of the
Audit
Committee
	$75,000	 	$20,000	 	$10,000	 	$5,000	 	$10,000

  

					
	 Meeting Fee for each

Committee
Meeting Attended
	 	Meeting Fee for each
Audit 
Committee
Meeting Attended	 	Meeting Fee for Acting Chair
(when regular committee
chair is absent)

	$1,500	 	$2,0002
	 	$200

 Pursuant to the terms
of the Company Long Term Incentive Plan (“LTIP”), effective July 1, 2010, members of the Board also receive an annual award of deferred stock units, valued at $90,000 based on the closing price of the Company’s common stock on
the day of the Annual Meeting, which are deferred until the Director’s termination of service from the Board. If a non-management Director is first appointed to the Board after the Annual Meeting, his or her first annual award is prorated.
Members of the Board have the option of deferring their annual retainers, committee meeting fees and annual award of deferred stock units pursuant to the LTIP and the Deferred Compensation Plan for the Benefit of Trustees of CECONY (the
“Deferred Compensation Plan”). 
 The Company reimburses Board members who are not currently officers of the Company
for expenses incurred in attending Board and Committee meetings. No person who serves on both the Company’s Board and on the Board of its subsidiary, Consolidated Edison Company of New York, Inc. (“CECONY”), and corresponding
Committees, is paid additional compensation for concurrent service. Members of the Board who are officers of the Company or its subsidiaries receive no retainers, meeting fees or annual award of deferred stock units for their service on the Board.

 Members of the Board are also eligible to participate in the Company’s Stock Purchase Plan (“Stock Purchase
Plan”). 
 Copies of the LTIP, the Deferred Compensation Plan and the Company’s Stock Purchase Plan, and amendments
thereto, have been (or , as to amendments that may be adopted after the date of this description, will be) included as exhibits to the Company’s Annual Report on Form 10-K or Quarterly Reports on Form 10-Q. 

August 19, 2010,First Amendment to Development, License and Supply Agreement

 Exhibit 10.5 

[NOTE: CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN MARKED TO INDICATE THAT CONFIDENTIAL INFORMATION HAS BEEN OMITTED. CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED FOR THIS CONFIDENTIAL INFORMATION. THE CONFIDENTIAL PORTIONS HAVE BEEN PROVIDED SEPARATELY TO THE SECURITIES AND EXCHANGE COMMISSION.] 

FIRST AMENDMENT TO 

DEVELOPMENT, LICENSE AND SUPPLY AGREEMENT 

This First Amendment to Development, License and Supply Agreement dated as of June 3, 2010 (this “Amendment”), is entered
into by and between Inspire Pharmaceuticals, Inc., a corporation organized and existing under the laws of the State of Delaware, having offices located at 4222 Emperor Boulevard, Suite 200, Durham, North Carolina 27703, USA (“Inspire”),
and Santen Pharmaceutical Co., Ltd., a corporation organized under the laws of Japan, having offices located at 3-9-19 Shimoshinjo, Higashiyodogawa-ku, Osaka, 533-8651, Japan (“Santen”). 

PRELIMINARY STATEMENTS 

A. Inspire and Santen previously entered into the Development, License and Supply Agreement dated as of December 16, 1998 (the
“Agreement”). 
 B. Inspire and Santen wish to amend the Agreement, and to make certain other agreements, as set forth
in this Amendment. All capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings set forth in the Agreement. 

NOW, THEREFORE, for good and valuable consideration, including without limitation the mutual agreements and covenants set forth herein,
the Parties hereby agree as follows: 
 1. Preliminary Statement C of the Agreement is hereby amended to read in full as
follows: 
 “C. Santen wishes to develop and commercialize the Product in the Territory, and Inspire wishes to have Santen
do so, upon the terms and conditions set forth in this Agreement. In connection therewith, Santen desires to obtain, and Inspire desires to grant to Santen, an exclusive license under the Licensed Technology with respect to the manufacture of the
Compound and commercialization of the Product in the Territory for applications in the Field, all on the terms and conditions set forth below.” 

2. Sections 1.2 (entitled cGMP), 1.19 (entitled Manufacturing Standards), 1.31 (entitled Testing Methods) and 1.35 (entitled Transfer
Price) of the Agreement are hereby amended by deleting each in its entirety and inserting in lieu thereof “[RESERVED]”. 

3. Section 1.16 of the Agreement (entitled Know-how) is hereby amended to read in full as follows: 

 “1.16 “Know-how” shall mean any and all Inventions, improvements,
discoveries, claims, formulae, processes, trade secrets, technologies and know-how (including confidential data and Confidential Information) that is generated, owned or controlled by Inspire at any time before or during the term of this Agreement
relating to, derived from or useful for the manufacture, use or sale of the Compound or the Product, including, without limitation, synthesis, preparation, recovery and purification processes and techniques, control methods and assays, chemical
data, toxicological and pharmacological data and techniques, clinical data, medical uses, product forms and product formulations and specifications.” 

4. Section 1.17 of the Agreement (entitled Licensed Claim) shall be amended to read in full as follows: 

“1.17 “Licensed Claim” shall mean any claim of any Patent that relates to and is necessary for the manufacture, use
and sale of the Compound or the Product, which claim has not been held invalid or unenforceable by decision of a court or other governmental agency of competent jurisdiction, unappealable or unappealed within the time allowed for appeal, and which
is not admitted to be invalid through disclaimer or otherwise not admitted by Inspire to be invalid.” 
 5. A new
Section 3.6 is hereby added at the end of Section 3 (entitled Coordinating Committee) of the Agreement, to read as follows: 

“3.6 Compound Manufacturing Information and Rights. [CONFIDENTIAL TREATMENT REQUESTED] any Inventions, improvements,
discoveries, claims, formulae, processes, trade secrets, technologies and know-how (including confidential data and Confidential Information) to the extent solely relating to the synthesis, purification, analysis, testing or manufacture of the
Compound and arising after the date of the First Amendment to this Agreement.” 
 6. Section 4.1 of the Agreement
(entitled Generally) is hereby amended to add a new sentence at the end of such section to read as follows: 
 [CONFIDENTIAL
TREATMENT REQUESTED] 
 7. Subsection (h) of Section 4.2 of the Agreement (entitled Specific Santen Responsibilities)
is hereby amended by deleting the language “; and” at the end of such subsection and inserting in lieu thereof a period. Section 4.2 is hereby further amended by deleting subsection (i) thereof in its entirety. 

8. Subsection (c) of Section 4.3 of the Agreement (entitled Inspire Activities) and subsection (b) of Section 4.5 of
the Agreement (entitled Funding) are hereby amended by 
  

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deleting each in its entirety and inserting in lieu thereof “[RESERVED]”; provided, however, the Parties acknowledge and agree, solely with respect to Compound provided by Inspire to
Santen pursuant to this Agreement and prior to the date of this Amendment, that subsection (c) of Section 4.3 shall survive solely as it relates to “Compound manufactured in accordance with cGMP and the Compound Specifications”.

 9. Section 5.2 of the Agreement (entitled Commercialization License) is hereby amended by deleting the first sentence of
such Section in its entirety and inserting in lieu thereof the following: 
 “Inspire hereby grants to Santen an exclusive
(even as to Inspire) license, with the right to grant sublicenses in accordance with the terms of this Agreement, under the Licensed Technology, to develop, use, manufacture, register, market and sell Products in the Field throughout the Territory,
and to manufacture the Compound throughout the world for use in Products in the Field in the Territory; provided, however, that Inspire shall retain the rights, for the purposes of use, marketing or sale outside the Territory, to develop, use and
manufacture Products in the Field in the Territory and to manufacture Compound.” 
 10. Section 6.1 of the Agreement
(entitled Milestone Payments) is hereby amended by: deleting subsection (e) of Section 6.1 in its entirety (regarding a milestone payment in the amount of US $500,000); and deleting the language “; and” at the end of subsection
(d) of Section 6.1 and inserting in lieu thereof a period. 
 11. Section 6.2 of the Agreement (entitled Transfer
Price) is hereby amended by deleting such section in its entirety and inserting in lieu thereof “[6.2 RESERVED]”. 

12. Section 6.3 of the Agreement (entitled Royalty Payments) is hereby amended by deleting such Section in its entirety and
inserting in lieu thereof the following: 
 “6.3 Royalty Payments. As further consideration to Inspire for the
license and other rights granted to Santen under this Agreement, during the term of this Agreement, Santen shall pay to Inspire a royalty on Net Sales of the Product commencing on the First Commercial Sale by Santen, its Affiliates or its
Sublicensees, on a country-by-country and Product-by-Product basis, in an amount equal to: 
  

	 	(a)	For such Net Sales of Product in Japan, the following percentages of Net Sales: 

(i) For Net Sales of Product up to and equal to [CONFIDENTIAL TREATMENT REQUESTED] in a calendar year, [CONFIDENTIAL TREATMENT REQUESTED]
of such Net Sales; 
 (ii) For Net Sales of Product in excess of [CONFIDENTIAL TREATMENT REQUESTED] and up to and equal to
[CONFIDENTIAL TREATMENT REQUESTED] 
  

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in a calendar year, [CONFIDENTIAL TREATMENT REQUESTED] of such Net Sales; and 

(iii) For Net Sales of Product in excess of [CONFIDENTIAL TREATMENT REQUESTED] in a calendar year, [CONFIDENTIAL TREATMENT REQUESTED] of
such Net Sales. 
 (b) [CONFIDENTIAL TREATMENT REQUESTED] of the aggregate Net Sales of Product by Santen, its Affiliates and its
Sublicensees throughout the remainder of the Territory.” 
 13. Section 7.1 of the Agreement (entitled Payments) is
hereby amended by deleting subsection (a) of Section 7.1 in its entirety and inserting in lieu thereof “(a) [RESERVED]”. 

14. Section 7.4 of the Agreement (entitled Audit Request) is hereby amended by deleting subsection (b) of Section 7.4 in
its entirety and inserting in lieu thereof “(b) [RESERVED]”. 
 15. Section 7.5 of the Agreement (entitled Cost
of Audit) is hereby amended by deleting subsection (b) of Section 7.5 in its entirety and inserting in lieu thereof “(b) [RESERVED]”. 

16. Section 8 of the Agreement (entitled Manufacture and Supply) is hereby amended by deleting such Section in its entirety,
comprised of Sections 8.1 through 8.10 in their entirety, and inserting in lieu thereof “8 [RESERVED]”; provided, however, the Parties acknowledge and agree, solely with respect to Compound provided by Inspire to Santen pursuant to this
Agreement and prior to the date of this Amendment, if any, that subsections (a), (c) and (d) of Sections 8.5 shall survive (but in the case of subsection (d) of Section 8.5, only with respect to inspections required to in
connection with regulatory approval of Product as a result of the use of such Compound in clinical trial and validation batches). 

17. Subsection (a)(i) of Section 12.3 of the Agreement (entitled Effect of Expiration or Termination) is hereby amended to read in
full as follows: 
 “(i) Santen shall have a non-exclusive, royalty-free, perpetual right, with the right to grant
sublicenses, to continue to make, have made, market, distribute and sell such Product in such country, and the right to manufacture the Compound for use therein, and the non-exclusive, perpetual and paid-up right to use the Licensed Technology in
connection therewith; and” 
 18. Subsection (b)(i) of Section 12.3 of the Agreement (entitled Effect of Expiration or
Termination) is hereby amended to read in full as follows: 
 “(i) Santen shall have a non-exclusive, royalty-free,
perpetual right to continue to make, have made, use, market, distribute and sell all Products in all countries in the Territory, 

 

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and the right to manufacture the Compound for use therein, and the non-exclusive, perpetual and paid-up right to use the Licensed Technology in connection therewith;” 

19. The Agreement is hereby amended by deleting Exhibit A (entitled Inspire’s Cost of Compound) and Exhibit D (entitled
Maximum/Minimum Orders under Section 8.3) in their entirety. 
 20. Each Party, for itself, and its successors, assigns,
and any person or entity acting for or on their behalf, including without limitation, in their capacities as such, its directors, officers, shareholders, employees, agents, representatives and attorneys, does hereby release and forever discharge the
other Party and its subsidiaries and affiliates, successors and assigns, and any person or entity acting for or on their behalf, including without limitation their directors, officers, shareholders, employees, agents, representatives and attorneys,
from any and all claims, demands, damages, costs, fees, or expenses, including attorneys’ fees, known or unknown, contingent or absolute, arising prior to the date of this Amendment and relating in any way to the manufacture or supply of the
Compound by or on behalf of Inspire or any obligations of Inspire or Santen relating thereto (“Claims”), except solely with respect to Claims relating to the provisos in paragraphs 8 and 16 above. Santen acknowledges and agrees that it is
not a third party beneficiary of any contracts or other arrangements between Inspire and Yamasa Corporation and accordingly shall have no claims arising out of such arrangements. 

21. This Amendment may be executed simultaneously in any number of counterparts, any one of which need not contain the signature of more
than one Party, but all such counterparts taken together shall constitute one and the same instrument. This Agreement may be executed and delivered by facsimile or electronic mail transmission, and such transmission shall constitute an original.
Each Party shall execute, acknowledge and deliver such further instruments, and do such other acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Amendment. 

22. The Parties acknowledge and agree that either Party may publicly announce this Amendment and may file this Amendment with any
governmental authority, including in the case of Inspire the United States Securities and Exchange Commission (the “SEC”); provided however, that Inspire shall not publicly disclose financial terms contained in this Amendment, including
but not limited to the milestone amounts and the royalty rates set forth in paragraphs 10 and 12 above, without first seeking confidential treatment from the SEC with respect thereto. The Parties agree that such amounts and percentages are
confidential information of the Parties. In connection with any filing of the Amendment with a governmental authority, including the SEC, Inspire shall redact such financial terms prior to making any publicly available filing and request
confidential treatment thereof. Prior to filing any such confidential information requests, Inspire shall provide copies thereof to Santen for review, and shall reasonably consider any changes requested by Santen. Inspire and Santen shall maintain
such confidentiality through the term of the Agreement subject to the terms of this paragraph 22, except as required to be disclosed by law. If any such request is rejected, Inspire shall provide to Santen all correspondence received by Inspire from
the governmental authority (and such correspondence and any related confidential treatment requests shall be confidential information of Inspire). Notwithstanding the above, the Parties acknowledge and agree, however, that once any

  

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milestone payment or royalty payment has been made by Santen to Inspire, the amount of such payment in dollars (but not the royalty rate associated therewith) will be publicly disclosed by
Inspire. 
 23. This Amendment is limited as specified and shall not constitute a modification, amendment or waiver of any other
provision of the Agreement. 
 IN WITNESS WHEREOF, each Party has caused this Amendment to be executed by its duly authorized
representative as of the day and year first above written. 
  

			
	INSPIRE PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Adrian Adams

	Name:	 	Adrian Adams
	Title:	 	President & CEO
	
	SANTEN PHARMACEUTICAL CO., LTD.
		
	By:	 	 /s/ Akira Kurokawa

	Name:	 	Akira Kurokawa
	Title:	 	President & CEO

  

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