Document:

EX-10.10

 

Exhibit 10.10

November 9, 2006

William Bronner, Esq.

1325 Croton Dam Road

Ossining, NY 10562

Dear Bill:

We recognize that, over the years, you have provided significant value to Electro-Optical Sciences,
Inc. We understand that, now that the company is in a more mature position, you would like to
devote a significant amount of your time to other endeavors but would be willing to support the
company on a more limited basis.

We therefore would like to offer you a thirteen month consulting agreement, effective as of
December 1, 2006, on a one day per week basis in consideration of monthly payments based on an
annual rate of $50,000. Your day of work per week shall be conducted off premises on a day chosen
by you unless otherwise requested by the company, upon reasonable advance notice and with due
regard for the need to accommodate potential conflicts in schedule, including vacation, that you be
present at EOS’ headquarters in Irvington, New York or that your assistance is needed on a certain
day for any week. You may travel and incur routine out-of-pocket expenses at the request of EOS’
management, but very little travel is anticipated.

Reporting to the President & Chief Executive Officer, and working with the Chief Financial Officer
and Chief Operating Officer, you will assist the company in certain of its contractual and
administrational matters as assigned to you by management. Such services will include matters
relating to EOS’ facilities, purchasing matters, intellectual property administration, quality work
and documentation, insurance matters and other matters and tasks, as assigned by management,
consistent with the limited scope of your arrangement. You will continue to be bound by EOS’
standard operating policies and procedures.

We will confirm acceptance of your resignation effective as of the date of this letter from all
offices held by you at EOS, including without limitation, Vice President and Corporate Secretary.
We will continue to employ you at your current salary for 4 days’ work per week through November
30, 2006 at which time your employment with the Company shall terminate. You shall be deemed to
have worked 32 hours per week, holidays excepted, throughout November 2006, regardless of your
actual presence in the EOS facilities.

Although you are not otherwise entitled to severance pay or any similar payment on account of
termination of your employment with EOS, as consideration for all vacation or other personal time
and similar accruals to which you may have been entitled in connection with your employment through
the date of termination, the consulting services to be provided hereunder and for your execution of
and compliance with the other terms of this Agreement, EOS agrees to pay to you a single lump sum
payment of $50,000 during the first week of January, 2007.

Your coverage under all of EOS’ health and welfare plans (dental and life insurance, short term
disability, long term disability, accidental death and dismemberment insurance) will terminate on
November 30, 2006 provided that you shall be eligible to elect continued health coverage

 

 

with EOS
pursuant to the provisions of the Consolidated Omnibus Reconciliation Act of 1985 (as amended,
“COBRA”), and the requirements and limitations thereof.

As noted above, unless extended by you and the company, this consulting arrangement will terminate
on December 31, 2007, provided, however, that your consulting arrangement may be terminated at any
time by the company for “Cause” which shall mean for purposes hereof (i) an act of fraud or
misappropriation by you, (ii) a material breach by you of a fiduciary responsibility owing to EOS
(iii) your habitual failure to perform your duties hereunder and failure to cure within ten
business days of receipt of notice or (iv) your becoming permanently disabled and incapable of
performing your duties hereunder. In addition, you may terminate this agreement without giving a
reason on 15 days prior written notice given to the President of EOS.

Immediately upon execution of this Agreement, you shall (i) return all personal property provided
to you by EOS in connection with the performance of your duties as an employee of EOS, including,
without limitation, all keys, card keys, identification cards and credit cards, and all other
property of EOS in your possession;) and (ii) as requested by EOS, return all materials containing
confidential information including, without limitation, all confidential information as defined in
the Employee Invention, Non-Disclosure and Non-Competition Agreement dated July 1, 2000 between you
and EOS and the Confidentiality Agreement dated October 6, 1999 between you and EOS, both as
attached as Exhibit A hereto (collectively, the “Confidentiality Agreements”) and all memoranda,
books, papers, letters, customer lists, processes, computer software, records, financial
information, policy and procedure manuals, training and recruiting procedures and other data, and
all copies thereof and therefrom, in any way relating to EOS’ business and affairs. You shall have
the use of the portable computer you have been using, until termination of your consulting with us
provided that EOS shall have an opportunity to remove all company data files from the hard drive of
such computer in a manner that does not adversely affect the operation of the application software
installed on such computer. Your access to the company’s computer system, your present email
account and telephone extension shall be terminated as of the date of this letter provided that the
company will forward to you emails and messages received on your behalf through November 30, 2006.
During your consulting with EOS you may provide services to any client other than an actual or
probable competitor of EOS, consistent with your obligations as described herein and in the
consulting agreement.

EOS will provide appropriate affirmative employment references if requested. Management will
provide reasonable support of your transition activities, including recommendations, and will not
object to your contact with members of the Board of Directors regarding their knowledge of
opportunities for you to provide services for other entities unrelated to EOS. However you will
not engage in other contact with the Board of Directors (other than in their capacities as
executive officers of the company) other than at the request of EOS’ management or at the
initiative of the Director in question.

The attached Schedule A contains a true and complete list of all equity interests in EOS
which you own or have any legal interest in. You will continue to be eligible to exercise your
stock options in accordance with their terms. In addition, the company will accelerate the vesting
provisions in all of your stock options such that they will all be vested as of November 30, 2006.
You acknowledge and agree that you will continue to be bound by the Confidentiality Agreements.

In consideration of the payments and benefits set forth herein, each party voluntarily, knowingly
and willingly releases and forever discharges the other party and its affiliates, together with
each of Eos and its entities’ respective officers, employees, agents, fiduciaries, employee benefit
plans and administrators and all of their predecessors, successors and assigns (collectively, the
“Releasees”) from any and all claims and rights

 

 

of any nature whatsoever which you or they now have
or in the future may have against them or you. This release includes, but is not limited to, any
rights or claims relating in any way to your employment relationship with EOS or any of the other
Releasees any rights or claims relating in any way to the termination of your employment,
any contract claims (express or implied, written or oral), or any rights or claims arising under
any statute, including, without limitation, the Americans with Disabilities Act, the Age
Discrimination in Employment Act, the Older Workers’ Benefit Protection Act, the Rehabilitation Act
of 1973 (including Section 504 thereof), the Family Medical Leave Act, Title VII of the 1964 Civil
Rights Act, the Civil Rights Act of 1866 (42 U.S.C. § 1981), the Civil Rights Act of 1991, the
Equal Pay Act, the Fair Labor Standards Act, the National Labor Relations Act, the Worker
Adjustment and Retraining Notification Act, the New York State and City Human Rights Laws, the
Employee Retirement Income Security Act of 1974, section 806 of the Corporate and Criminal Fraud
Accountability Act of 2002 (the Sarbanes-Oxley Act), all as amended, all laws relating to violation
of public policy, retaliation, or interference with legal rights; whistleblower claims; any tort,
fraud or constitutional claims; and any other federal, state or local law. This release
specifically includes, but is not limited to, any claims based upon the right to the payment of
wages, vacation, pension benefits, stock options or equity interests, any other employee benefits,
or any other rights arising under federal, state or local laws prohibiting discrimination and/or
harassment on the basis of race, color, age, religion, sex, national origin, sexual orientation,
military status, physical or mental disability, marital status or domestic partnership status,
genetic information, harassment or any other basis prohibited by law. Notwithstanding the foregoing
this release shall not include any claims pertaining to benefits provided by this agreement,
including the schedules attached hereto, and rights, if any, to government-provided unemployment
benefits, or rights, if any, to vested retirement benefits or COBRA benefits

Neither party shall make, or cause to be made, any negative or disparaging statements express or
implied, whether in writing, orally, or through the use of any other communications medium about,
or to engage in any other conduct or course of conduct of any nature which would result in an
injury (whether monetary or otherwise) to you, EOS, the Releasees, or collectively their services,
reputation, financial status, business relationships, or any of their directors, officers or
employees.

This Agreement shall be governed by the law of the State of New York without regard to New York’s
law of conflicts and may not be changed, and a waiver may only be enforced, unless the changes
and/or waiver are in writing and signed by you and the President of EOS. Should any provision of
this Agreement be held invalid, or invalid as applied, the remainder of this Agreement, or the
application of such provision to persons or circumstances other than those as to which it is held
invalid, shall not be affected.

This Agreement constitutes the entire agreement between you and EOS of any kind whatsoever and
supersedes all other agreements between you and EOS, if any, which shall be considered void and of
no force and effect, except that (i) this Agreement shall not relieve you of any contractual or
common law obligations to maintain EOS’ confidential, proprietary and trade secret information as
confidential and not to use such information for your benefit or the benefit of any third party,
(ii) this Agreement does not supersede the stock option agreements listed on the Schedules to this
Agreement or the Confidentiality Agreements and (iii) the existing corporate indemnity and
insurance for claims based on past actions as an officer of EOS, provided under the Agreement of
Indemnity and the Directors and Officers’ insurance policies.

By signing this Agreement, you acknowledge that (a) you have carefully read and understand this
Agreement; (b) EOS advised you to consult with an attorney and/or any other advisors of your choice
before signing this Agreement; (c) you understand that this Agreement is

 

 

LEGALLY BINDING and by
signing it you give up certain rights, including any right to bring an age discrimination claim
under the Age Discrimination in Employment Act; (d) you have voluntarily chosen to enter into this
Agreement and have not been forced or pressured in any way
to sign it; and (e) you acknowledge and agree that the benefits set forth in this Agreement are
contingent on execution of this Agreement, which releases all of your claims against EOS, and you
KNOWINGLY AND VOLUNTARILY AGREE TO RELEASE EOS and the Releasees from any and all claims you may
have, known or unknown, in exchange for the benefits you have obtained by signing, and that these
benefits are in addition to any benefit you would have otherwise received if you did not sign this
Agreement.

You have twenty-one (21) days to review, sign and return this Agreement to my attention at EOS
after which time this offer will be withdrawn. You may revoke the Agreement at any time up to
seven (7) days after you have signed the Agreement by written notice of such revocation delivered
to me within such seven day period. You will not receive any payment or other benefits under this
Agreement until after this revocation period has passed.

	 	 	 
	 	 	Sincerely,

	 	 	/s/ Richard I. Steinhart

	 	 	 

Richard I. Steinhart

Vice President & Chief Financial Officer

ACCEPTED AND AGREED:

	 	 	 
	/s/ William Bronner

	 	 
	 

William Bronner

	 	 
	Date: 11/09/06
	 	 

 

 

    Schedule
    A

    William Bronner list of options

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
    Schedule of Options

    
	
 
	
 
	
 
	
    Grant

    
	
 
	
    Expiration

    
	
 
	
    Exercise

    
	
 
	
    10/31/06

    
	
 
	
    10/31/06

    

	
    Name
	
 
	
    Plan or Source
	
 
	
    Date
	
 
	
    Date
	
 
	
    Price
	
 
	
    Outstanding
	
 
	
    Vested

	

    William Bronner
    

	
 
	
 
	
    1996 Stock Option Plan
	
 
	
 
	
 
	
    02/19/02
	
 
	
 
	
 
	
    02/19/12
	
 
	
 
	
    $
	
    1.00
	
 
	
 
	
 
	
    1,875
	
 
	
 
	
 
	
    1,500
	
 

	

    William Bronner
    

	
 
	
 
	
    1996 Stock Option Plan
	
 
	
 
	
 
	
    02/02/04
	
 
	
 
	
 
	
    02/02/09
	
 
	
 
	
    $
	
    0.46
	
 
	
 
	
 
	
    17,000
	
 
	
 
	
 
	
    17,000
	
 

	

    William Bronner
    

	
 
	
 
	
    2003 Stock Incentive Plan
	
 
	
 
	
 
	
    12/17/04
	
 
	
 
	
 
	
    12/17/09
	
 
	
 
	
    $
	
    0.46
	
 
	
 
	
 
	
    20,000
	
 
	
 
	
 
	
    20,000
	
 

	

    William Bronner
    

	
 
	
 
	
    1996 Stock Option Plan
	
 
	
 
	
 
	
    01/15/03
	
 
	
 
	
 
	
    01/15/13
	
 
	
 
	
    $
	
    1.00
	
 
	
 
	
 
	
    32,160
	
 
	
 
	
 
	
    32,160
	
 

	

    William Bronner
    

	
 
	
 
	
    2005 Stock Option Plan
	
 
	
 
	
 
	
    05/22/06
	
 
	
 
	
 
	
    05/22/11
	
 
	
 
	
    $
	
    7.08
	
 
	
 
	
 
	
    7,500
	
 
	
 
	
 
	
    —
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	

    Totals
    

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
    78,535
	
 
	
 
	
 
	
    70,660
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

 

Exhibit A

Employee Invention, Non-Disclosure and Non-Competition Agreement dated July 1, 2000

Confidentiality Agreement dated October 6, 1999EX-4.1.3

 

    Exhibit
    4.1.3

 

    SUPPLEMENTAL INDENTURE, dated as
    of          ,
    2006 (the “Supplemental Indenture”), among
    LUCENT TECHNOLOGIES INC., a Delaware corporation (the
    “Company”), and THE BANK OF NEW YORK, a New
    York banking corporation, as trustee (the “Trustee”).

 

    RECITALS

 

    WHEREAS, the Company and the Trustee have entered into that
    Indenture, dated as of June 4, 2003 (as supplemented by the
    First Supplement (as defined below), the
    “Indenture”), which provided for the issuance
    of one or more series of securities (the
    “Securities”);

 

    WHEREAS, the Company and the Trustee have entered into that
    First Supplemental Indenture, dated as of June 4, 2003 (the
    “First Supplement”), which provided for the
    issuance of the Company’s
    23/4%
    Series A Convertible Senior Debentures due 2023 (the
    “Series A Debentures”) and the
    Company’s
    23/4%
    Series B Convertible Senior Debentures due 2025 (the
    “Series B Debentures”, and together with
    the Series A Debentures, the “Debentures”);

 

    WHEREAS, pursuant to an Agreement and Plan of Merger, dated as
    of April 2, 2006 (the “Merger Agreement”),
    by and among the Company, Alcatel, a societe anonyme organized
    under the laws of the Republic of France
    (“Alcatel”), and Aura Merger Sub, Inc., a
    Delaware corporation and a direct, wholly owned subsidiary of
    Alcatel (“Merger Sub”), Merger Sub will be
    merged with and into the Company, with the Company continuing as
    the surviving corporation (the “Merger”);

 

    WHEREAS, the Board of Directors of Alcatel has determined it to
    be in the best interest of Alcatel to guarantee the principal
    of, premium, if any, interest on, and all other monetary
    obligations arising under the Debentures upon consummation of
    the Merger;

 

    WHEREAS, the Company desires to execute and deliver this
    Supplemental Indenture to (i) amend the Indenture to
    provide that the reports and other information required to be
    provided by the Company and in respect of the Company may
    instead be provided only with respect to Alcatel effective upon
    Alcatel’s execution of the aforementioned guaranty and
    (ii) add certain defined terms and related text in the
    Indenture (collectively, the “Proposed
    Amendments”);

 

    WHEREAS, the Board of Directors of the Company has determined
    that it be in the best interest of the Company to make the
    Proposed Amendments;

 

    WHEREAS, Section 9.02 of the Indenture provides that the
    Company and the Trustee may amend or supplement the Indenture or
    the Securities with the written consent of the Holders of at
    least a majority in principal amount of the Securities of each
    Series then outstanding (the “Required
    Consent”);

 

    WHEREAS, the Company has obtained the Required Consent; and

 

    WHEREAS, pursuant to Section 9.02 of the Indenture, the
    Company and the Trustee are authorized to execute and deliver
    this Supplemental Indenture.

 

    NOW, THEREFORE, for and in consideration of the premises and
    other valuable consideration, the receipt and sufficiency of
    which are hereby acknowledged, and intending to be legally bound
    hereby, it is hereby agreed between the Company and the Trustee,
    for the equal and proportionate benefit of the respective
    Holders from time to time, as follows:

 

    ARTICLE I

    

 

    DEFINITIONS

 

    Section 1.1.  Definition
    of Terms.   Capitalized terms used and not
    otherwise defined herein have the respective meanings assigned
    to such terms in the Indenture.

    

    1

 

    ARTICLE II

    

 

    AMENDMENTS

 

    Section 2.1.  Section 1.01
    of the Indenture is amended to include the following definitions
    in their proper alphabetical location:

 

    “Beneficial Owner” has the meaning assigned to
    such term in
    Rule 13d-3
    and
    Rule 13d-5
    under the Exchange Act, except that in calculating the
    beneficial ownership of any particular “person,” as
    such term is used in Section 13(d)(3) of the Exchange Act,
    such “person” shall be deemed to have beneficial
    ownership of all securities that such “person” has the
    right to acquire, whether such right is currently exercisable or
    is exercisable only upon the occurrence of a subsequent
    condition.

 

    “Parent” means any person (as such term is used
    in Sections 13(d) and 14(d) of the Exchange Act and the
    regulations thereunder) who is or becomes the Beneficial Owner,
    directly or indirectly, of more than 50% of the total voting
    stock or total common equity of the Company.

 

    “Parent Guaranty” means a guaranty by a
    Parent (whether or not subordinated to the Parent’s senior
    debt) of all obligations of the Company under the Indenture and
    any outstanding Debentures.

 

    Section 2.2.  Section 4.02
    of the Indenture is amended by inserting the following text as a
    new paragraph at the end of Section 4.02:

 

    Notwithstanding the foregoing, if the Parent executes and
    delivers a Parent Guaranty, the Parent may furnish to the
    Holders copies of its annual report and the information,
    documents and other reports (without including the condensed
    consolidating footnote contemplated by
    Rule 3-10
    of
    Regulation S-X
    promulgated under the Securities Act) that Parent is required to
    file pursuant to Sections 13 and 15(d) of the Exchange Act
    in lieu of those required to be furnished or filed by the Company. At
    such time as the Parent Guaranty is released or terminated,
    the Parent that issued such terminated or released Parent Guaranty shall no longer be obligated to provide the reports and
    information provided for in this paragraph and shall be released
from any other obligations under this Supplemental Indenture.

 

    ARTICLE III

    

 

    ACCEPTANCE
    OF SUPPLEMENTAL INDENTURE

 

    Section 3.1.  Acceptance.  The
    Trustee hereby accepts this Supplemental Indenture and agrees to
    perform the same under the terms and conditions set forth in the
    Indenture.

 

    ARTICLE IV

    

 

    MISCELLANEOUS

 

    Section 4.1.  Effectiveness
    of the Supplemental Indenture.  This
    Supplemental Indenture shall be effective on the date hereof but
    shall not be operative until (i) the effective date of the
    Merger and (ii) upon execution of the Parent Guaranty by
    Alcatel.

 

    Section 4.2.  Termination
    of Merger Agreement.  If the Merger Agreement
    shall be terminated prior to the consummation of the Merger,
    this Supplemental Indenture shall be null and void and of no
    force or effect

 

    Section 4.3.  Effect
    of Supplemental Indenture.  Upon the execution
    and delivery of this Supplemental Indenture by the Company and
    the Trustee, the Indenture shall be supplemented and amended in
    accordance herewith, and this Supplemental Indenture shall form
    a part of the Indenture for all purposes, and every holder of
    Debentures heretofore or hereafter authenticated and delivered
    under the Indenture shall be bound thereby.

 

    Section 4.4.  Indenture
    Remains in Full Force and Effect.  Except as
    supplemented or amended hereby, all provisions in the Indenture
    shall remain in full force and effect.

 

    Section 4.5.  Incorporation
    of Indenture.  All the provisions of this
    Supplemental Indenture shall be deemed to be incorporated in,
    and made a part of, the Indenture; and the Indenture, as
    supplemented and amended by this Supplemental Indenture, shall
    be read, taken and construed as one and the same instrument.

    

    2

 

    Section 4.6.  Headings.  The
    headings of the Articles and Sections of this Supplemental
    Indenture are inserted for convenience of reference and shall
    not be deemed to be a part thereof.

 

    Section 4.7.  Counterparts.  This
    Supplemental Indenture may be executed in any number of
    counterparts, each of which so executed shall be deemed to be an
    original, but all such counterparts shall together constitute
    but one and the same instrument.

 

    Section 4.8.  Conflict
    with Trust Indenture Act.  If any provision of
    this Supplemental Indenture limits, qualifies or conflicts with
    any provision of the Trust Indenture Act that is required under
    the Trust Indenture Act to be part of and govern any provision
    of this Supplemental Indenture, such provision of the Trust
    Indenture Act shall control. If any provision of this
    Supplemental Indenture modifies or excludes any provision of the
    Trust Indenture Act that may be so modified or excluded,
    the provision of the Trust Indenture Act shall be deemed to
    apply to the Indenture as so modified or to be excluded by this
    Supplemental Indenture, as the case may be.

 

    Section 4.9.  Successors
    and Assigns.  All covenants and agreements in
    this Supplemental Indenture by the Company and Alcatel shall
    bind their respective successors and assigns, whether so
    expressed or not.

 

    Section 4.10.  Separability
    Clause.  In case any provision in this
    Supplemental Indenture shall be invalid, illegal or
    unenforceable, the validity, legality and enforceability of the
    remaining provisions shall not in any way be affected or
    impaired thereby.

 

    Section 4.11.  Benefits
    of Supplemental Indenture, Etc.  Nothing in
    this Supplemental Indenture, express or implied, shall give to
    any Person, other than the parties hereto and thereto and their
    successors hereunder, any benefit or any legal or equitable
    right, remedy or claim under this Supplemental Indenture, the
    Indenture or the Debentures.

 

    Section 4.12.  Recitals.  The
    recitals contained herein are made by the Company and the
    Trustee assumes no responsibility for their correctness. The
    Trustee makes no representations as to the validity or
    sufficiency of this Supplemental Indenture.

 

    Section 4.13.  Certain
    Duties and Responsibilities of the
    Trustee.  In entering into this Supplemental
    Indenture, the Trustee shall be entitled to the benefit of every
    provision of the Indenture relating to the conduct or affecting
    the liability of or affording protection to the Trustee, whether
    or not elsewhere herein so provided.

 

    Section 4.14.  No
    Security Interest Created.  Nothing in this
    Supplemental Indenture, express or implied, shall be construed
    to constitute a security interest under the Uniform Commercial
    Code or similar legislation, as now or hereafter enacted and in
    effect, in any jurisdiction in which property of the Company and
    its Subsidiaries is located.

 

    Section 4.15.  Governing
    Law.  This Supplemental Indenture shall be
    governed by and construed in accordance with the laws of the
    State of New York, without regard to the conflict of laws
    provisions thereof.

    [SIGNATURE PAGES FOLLOW]

    

    3

 

    IN WITNESS WHEREOF, the parties hereto have caused this
    Supplemental Indenture to be duly executed and attested, all as
    of the date and year first written above.

 

    LUCENT TECHNOLOGIES INC.

 

    By: _
    _

    Name:

    Title:

 

    THE BANK OF NEW YORK, as Trustee

 

    By: _
    _

    Name:

    Title:

    

    4

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