Document:

exv10w1

 

Exhibit 10.1

Execution Version

AMENDMENT TO

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

(John F. Crowley)

     This
AMENDMENT, dated as of February 5, 2008 (this
“Amendment”), by and between (i) Amicus
Therapeutics, Inc., a Delaware corporation having an office at 6 Cedar Brook Drive, Cranbury, New
Jersey 08512 (the “Company”) and (ii) John F. Crowley, an individual residing at 15 Leonard Court,
Princeton, New Jersey 08540 (“Employee”), amends that certain Amended and Restated Employment
Agreement, dated as of April 18, 2006 (the “Agreement”), by and between the Company and Employee.
Capitalized terms used herein without definition shall have the same meaning for such terms as set
forth in the Agreement.

     WHEREAS, the parties to this Amendment wish to modify the medical expense reimbursement
provision set forth in the Agreement on the terms and conditions set forth herein, but to keep all
other terms and provisions of the Agreement in full force and effect;

     NOW, THEREFORE, for good and valuable consideration the sufficiency of which is acknowledged
and received, the parties to this Amendment hereby agree as follows:

     1. The first sentence of Section 3.3(c) entitled “Medical Expenses” shall remain in full force
and effect. The first sentence reads (and shall continue to read) as follows:

	 	 	“Effective May 1, 2006, the Company shall secure and maintain during the
Employment Term, at the expense of the Company, an Executive Medical
Reimbursement Contract with First Rehabilitation Life Insurance Company of
America, or a plan with another insurer providing substantially similar
benefits, covering Employee, Employee’s spouse and Employee’s dependents
(the “Health Plan Contract”).”

     2. The remainder of Section 3.3(c) entitled “Medical Expenses” shall be restated in its
entirety as follows:

	 	 	“The Company shall pay to Employee a quarterly amount equal to $55,000 in
cash to cover all out-of-pocket medical expenses incurred or accrued by
Employee, Employee’s spouse and Employee’s dependents from and after January
1, 2008. This amount shall be paid to Employee on the first day of each
calendar quarter. With respect to this amount, the Company shall make
corresponding gross-up payments on behalf of Employee on a quarterly basis
to the appropriate federal and state taxing authorities (or shall otherwise
appropriately withhold and reserve such payments on behalf of Employee so as
to provide for the direct payment to the appropriate taxing authorities at
the required time). The benefits and payments set forth in this paragraph
shall continue for a period of twelve (12) months following Employee’s death
or Disability (as defined in Section 5.5).”

 

 

     3. The parties further agree that the amount of all out-of-pocket medical expenses incurred or
accrued by Employee, Employee’s spouse or Employee’s dependents on or prior to December 31, 2007,
and for which reimbursement would have (or could have) been obtained under Section 3.3(c) of the
Agreement prior to the operation of this Amendment shall be paid by the Company to Employee in one
lump sum in cash upon the signing of this Amendment by the Company and Employee.

     4. The Agreement, as amended by this Amendment, contains the entire understanding of the
parties, and any reference on or after the date of this Amendment to the Agreement shall mean such
Agreement as amended by this Amendment. In all other respects, the terms and provisions of the
Agreement survive the execution of this Amendment and continues in full force and effect

     IN WITNESS WHEREOF, the parties have executed this Amendment to Amended and Restated
Employment Agreement as of the date first set forth above.

	 	 	 	 	 
	 	 	 
	 	                                                   /s/ John F. Crowley
 	 
	 	JOHN F. CROWLEY 	 
	 	 	 
	 

	 	 	 	 	 
	 	AMICUS THERAPEUTICS, INC.

 	 
	 	By:  	/s/ James E. Dentzer
 	 
	 	 	Name:  	James E. Dentzer 	 
	 	 	Title:  	Chief Financial OfficerExhibit 10.1 to Flexsteel Industries, Inc., Form 10-Q for quarter ended 12-31-2007

Exhibit 10.1

 

Flexsteel Industries, Inc.

2007 Long-Term Management Incentive Compensation Plan

 

FORM OF NOTIFICATION OF AWARD

 

This certifies that [INSERT NAME] is notified of a target award of [insert number of common shares] performance shares and cash compensation of [insert dollar amount] pursuant to the 2007 Long-term Management Incentive Compensation Plan (“the Plan”) of Flexsteel Industries, Inc., a Minnesota corporation (the “Company”) for the performance period beginning July 1, 20_____ and ending June 30, 20_____.

 

	
            Social Security Number:
 	
            __________________
 

 

	
            Address:
 	
            __________________
 

 

	
             
 	
            __________________
 

 

 

	
            Grant Date:
 	
            [insert date]
 

 

	
            Vesting Date:
 	
            [insert date]
 

 

 

This Notification of Award (“Notification”) is subject in all respects to the Plan as may be amended from time to time, all policies adopted from time to time by the Nominating and Compensation Committee of the Company relating to the administration of the Plan (the “Policies”) and the additional terms and conditions set forth below.  A copy of the Plan and the Policies are available upon request.  This Notification has been duly executed on behalf of Flexsteel Industries, Inc.

 

Flexsteel Industries, Inc.

 

By:  ___________________________

 

	
            Name:
 	
            Timothy E. Hall
 

	
            Title:
 	
            Vice President Finance, CFO & Secretary
 

 

*           *           *           *           *           *

[certain terms and conditions follow]

	
            1.
 	
            Award.  Subject to the terms of this Notification and the Plan, you are hereby notified of the target number of Performance Shares and cash compensation (“the Award”) as set forth above.  Awards pursuant to this Notification can vary anywhere from 0% to 160% of the target amounts, depending upon the Company’s consolidated financial results and per the schedule set forth in Exhibit A to this Notification.  Performance Shares do not represent actual ownership in the Company and in no way entitle the holder to any of the privileges and rights of actual stockholders, such as the right to receive dividends or to vote.
 

 

	
            2.
 	
            Award Vesting and Payout.  The Award pursuant to this Notification will vest (actual amounts will vary with the Company’s performance) at the end of the Performance Period (see Vesting Date above).  Awards will be paid as soon as practicable following the end of the Performance Period and verification of the Company’s consolidated financial results.  Performance Shares will be valued using the closing share price on the ending date of the Performance Period.  Awards will be settled using a combination of ___% common shares and ___% cash.  Payment under the Plan is subject to compliance by you with any written agreement between you and the Company, including an employment agreement, non-compete agreement, or other agreement relating to confidential information.  The Company has the right to deduct from all net amounts
paid under the Plan any federal, state, or local taxes required by law to be withheld with respect to such payments.  The Committee may require you to execute a stockholder’s agreement, with such terms, as the Committee deems appropriate, with respect to any Company Stock distributed pursuant to this Agreement. Upon vesting and payout, if any, the target number of Performance Shares and Cash Compensation set forth above will cease to exist.  
 

 

If you have a separation from service (determined in accordance with Internal Revenue Code Section 409A) due to retirement, disability or death, you will be entitled to a pro rata payment of the Award based on the Company’s performance through the nearest quarter end.  Any such payment will be made within 90 days of your separation from service.

 

	
            3.
 	
            Funding.  This Notification, and the Plan to which it is pursuant, shall be unfunded.  The Company shall not be required to establish any special or separate fund or to make any other segregation of assets to assure the payment of any Performance Shares.
 

 

	
            4.
 	
            No Right to Continued Employment.  Neither this Notification nor any Award made pursuant to the Plan shall confer upon you any right with respect to continuance of employment by the Company.
 

 

	
            5.
 	
            Amendment.  This Agreement may be amended by written agreement of the Participant and the Company, without the consent of any other person.
 

EXHIBIT A

 

PERFORMANCE MEASURES

 

	
            1.
 	
            Purpose.  The purpose of this Exhibit A is to set forth the Performance Measures that will be applied to determine the value of the Performance Award to be made pursuant to the Notification above.  This Exhibit A is incorporated into and forms a part of the Notification.
 

 

	
            2.
 	
            Revision of Performance Measures.  The Committee may modify the Performance Measures set forth in this Exhibit A during, and after the end of, the Performance Period to reflect significant events that occur during the Performance Period.
 

 

	
            3.
 	
            Performance Measures.  The Performance Measures shall be as follows:
 

 

[insert performance measures]

 

	
            4.
 	
            Amount of Award.  The amount distributable to you under the Agreement shall be determined in accordance with the schedule below.  Awards for performance not explicitly defined in the schedule below will be linearly interpolated:
 

 

Payment Matrix

[insert payment matrix]

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