Document:

Exhibit

    

June 14, 2016

To: <NAME>
Re: Retention Agreement
Dear <FIRST NAME>,
ConforMIS, Inc. (the “Company”) values your employment and your continued performance and contributions are important to the ongoing effective management of the Company’s operations.  As you know, the Company has embarked on a search for a new Chief Executive Officer (“CEO”) and anticipates that you will play an important role during the time before and after that hire, which will be a time of transition for the Company.  During this transition period, the Company wants you to remain committed to your employment with the Company.  As an incentive for you to remain with the Company from the date of this Agreement (the “Effective Date”) through the Retention Period defined below, the Company is offering you the Retention Benefits described below.  Please note that the terms and conditions of this Retention Agreement (the “Agreement”) are in addition to those terms and conditions described in your Amended and Restated Employment Agreement, dated May 21, 2015, which remains in full force and effect (the “Employment Agreement”).

<Also, on the Effective Date of this Agreement, your Base Salary (as defined in the Employment Agreement) shall be increased to an annualized rate of $<AMOUNT>, retroactive to February 1, 2016, less all applicable taxes and withholdings and payable on the Company’s normal payroll schedule.>

Please review the terms and conditions of this Agreement and let me know if you have any questions.  Otherwise, please sign where indicated below to acknowledge your receipt of this Retention Agreement and your acceptance of its terms.

		
	1.

	Retention Period.  The earlier of (x) the twelve (12) month period after the date on which the Company’s next CEO commences employment (the “CEO Commencement Date”) OR (y) the period through and including November 17, 2017, will be referred to as the “Retention Period.”  

		
	2.

	Restricted Stock Award.  Provided you remain employed by the Company, subject to and in accordance with the terms of your Employment Agreement, and you continue to use your best efforts to professionally, timely and cooperatively perform your employment duties, the Company shall issue on August 15, 2016 a restricted stock award (“RSA”) to you for a number of shares of the Company’s common stock equal to <ONE YEAR OF><NINE (9) MONTHS OF> your current base salary divided by the greater of (a) the average of the closing trading price of the Company’s common stock during the period from and including May 18, 2016 to August 15, 2016 and (b) $3.09 per share.  The RSA shall vest in full on the earlier of (i) eighteen (18) months from May 30, 2016 and (ii) one year from the first date of employment with the Company of a chief executive officer that is not presently the Chief Executive Officer of the Company as of May 30, 2016 (the “Vesting Date”); provided however, that such vesting shall be subject to your continued services as an employee on the Vesting Date, unless it vests earlier in accordance with the terms of your Employment Agreement, as amended by this Agreement below, or in accordance with the immediately following sentence. If there is a Qualifying Termination (as defined in your Employment Agreement) of your employment after the Effective Date and provided that you execute a Release (as defined in the Employment Agreement) and such release becomes binding between you and the Company, the Company will provide for accelerated vesting of the RSA such that all shares subject to such award shall vest on the date the Release becomes binding.

		
	3.

	Acceleration of Vesting.  Your Employment Agreement, including, without limitation, Sections 2.4 and 3.4(a) of your Employment Agreement, is amended to provide that all equity grants and awards shall be subject to acceleration of vesting in the event acceleration is required upon certain terminations as set forth in your Employment Agreement, including, without limitation, Bonuses (as defined in your Employment Agreement) as well as other grants or awards of options or restricted stock.  This Agreement does not alter the conditions upon which acceleration of any vesting occurs under your Employment Agreement, but does provide that, when acceleration of vesting occurs, all grants or awards of equity shall be accelerated.  The provisions of this Section of this letter are effective as of the Effective Date and will remain in effect after the Retention Period.

		
	4.

	Additional Severance Benefits.  If there is a Qualifying Termination (as defined in your Employment Agreement) of your employment after the Effective Date and provided that you execute a Release (as defined in the Employment Agreement) and such release becomes binding between you and the Company, the Company will:

		
	i.

	for purposes of continued payment of your Base Salary (as defined in the Employment Agreement) and continuation of health insurance coverage, as described in Section 2.4(1) and (2) of the Employment Agreement, extend the current duration of the Severance Period to a total of twelve (12) months (“Extended Severance”), provided, however, the Extended Severance shall remain in effect for twelve (12) months after the CEO Commencement Date and thereafter will be reduced by one month at the end of each month following the first anniversary of the CEO Commencement Date up to a maximum six (6) month reduction (the “Reduction Formula”);

		
	ii.

	provide for enhanced accelerated vesting of all of your outstanding equity awards (“Enhanced Accelerated Vesting”), excluding the RSA granted in accordance with Section 3 above, such that the number of shares subject to such award that would have become vested had you continued to be employed by the Company for the one (1) year following your termination date shall vest on the date the Release becomes binding (“Enhanced Accelerated Vesting”), provided, however, that the Enhanced Accelerated Vesting shall remain in effect for twelve (12) months after the CEO Commencement Date and thereafter the number of shares subject to such enhanced accelerated vesting shall be reduced in accordance with the Reduction Formula.

		
	5.

	Termination of Additional Severance Benefits.  In the event a new CEO is not hired on or before November 17, 2017, the Additional Severance Benefits set forth in Section 4 above thereafter shall terminate.

		
	6.

	Employment At Will.  This Agreement does not alter the status of your at-will employment relationship with the Company and does not in any way interfere with your right or the Company’s right to terminate your employment at any time, for any reason, with or without advance notice, in accordance with the terms of your Employment Agreement.

		
	7.

	Confidentiality.  You understand and agree that, to the extent permitted by law, as a condition for receipt of the Retention Benefits herein described, the terms and contents of this Agreement, and the contents of any negotiations and discussions resulting in this Agreement, shall be maintained as confidential by you and your agents and representatives and shall not be disclosed except as otherwise agreed to in writing by the Company.

		
	8.

	Tax Provision.  In connection with the Retention Benefits to be provided to you pursuant to this Agreement, the Company shall withhold and remit to the tax authorities the amounts required under applicable law, and you shall be responsible for all applicable taxes with respect to such Retention Benefits under applicable law.  You acknowledge that you are not relying upon advice or representation of the Company with respect to the tax treatment of any of the Retention Benefits. 

		
	9.

	Complete Agreement.  This Agreement forms the complete and exclusive statement of terms between you and the Company relating to your eligibility to receive the Retention Benefits, supersedes any other offers, agreements or promises made to you by anyone, whether oral or written, on this subject, and cannot be modified or amended except in a writing signed by you, the President and Chief Executive Officer and the Chairman of the Board of Directors.

		
	10.

	Governing Law.  This Agreement shall be interpreted and construed by the laws of the Commonwealth of Massachusetts, without regard to conflict of laws provisions.  You hereby irrevocably submit to and acknowledge and recognize the jurisdiction of the courts of the Commonwealth of Massachusetts or, if appropriate, a federal court located in Massachusetts (which courts, for the purposes of this Agreement, are the only courts of competent jurisdiction), over any suit, action or other proceeding arising out of, under or in connection with this Agreement or the subject matter hereof.  

If you agree to the terms provided herein, you have until June 21, 2016 to sign and return one original of this document to either of the undersigned.

Sincerely,
                                
Philipp Lang                            Kenneth Fallon
President and Chief Executive Officer            Chairman of the Board                
 
I acknowledge that I have read, understand and agree with the terms set forth herein:
		
	______________________________________
	                     

<NAME>                         Date:Exhibit 10.1

 

Personal & Confidential

 

 

 

 

 

August 1, 2013

 

Travis F. Brooks

1007 CHISEL POINT DR

Houston, TX 77094

 

		Re:	Retention Bonus

 

I am writing to inform you that, in appreciation for your continued support of Rowan Companies, Inc. and its affiliates (“Rowan”)
and its entry into the ultra-deepwater market, Rowan is offering you a cash retention bonus if certain conditions, as specified
below, are satisfied.

 

You will receive a lump sum retention bonus of $824,000 in cash (less applicable withholdings and deductions) if you are continuously
employed by Rowan until August 1, 2016 (the “vesting date”). If this condition is met, and subject to the other
terms of this agreement, the retention bonus would become payable to you within 10 business days after the vesting date. For
the avoidance of doubt, the retention bonus may not be accelerated, and it is not payable upon any change in control or similar
event affecting Rowan, upon your retirement or upon any other termination event occurring prior to the vesting date.

 

You acknowledge and agree that nothing contained in this agreement will be construed to create either an express or implied
promise of continued employment. Please note that your employment remains “at will,” meaning either you or Rowan
have the right to terminate your employment without prior notice at any time and for any reason.

 

The terms of this agreement are strictly confidential. You agree that you will not discuss this agreement or its terms with
anyone other than me or another authorized representative of Rowan as expressly made known to you. However, you may discuss
the terms of this agreement with your spouse, attorney or financial advisor so long as they agree to keep the information
confidential. If you breach these confidentiality obligations, you agree that any right to receive the retention bonus will
be subject to forfeiture in the sole discretion of Rowan.

 

Both you and Rowan intend this agreement to be exempt from the application of Section 409A of the Internal Revenue Code of
1986, as amended (the “Code”) and Treasury Regulation 1.409A-1(b)(4), and this agreement shall be interpreted
and administered in compliance therewith to the greatest extent possible. You acknowledge and agree, however, that Rowan does
not guarantee the tax treatment or tax consequences associated with any payment or benefit arising under this letter agreement,
including, without limitation, any consequences related to Section 409A of the Code.

 

This letter agreement sets forth the entire agreement between you and Rowan relating to the subject-matter herein. Any amendments
hereto must be in writing and signed by the parties. This agreement shall be governed by and construed in accordance with
the laws of the State of Texas, without giving effect to conflict of law principles.

 

Please agree and acknowledge the terms of this agreement by signing where indicated below and returning an executed agreement
to me by no later than August 7, 2013

 

     

     

    

 

Personal & Confidential

 

Rowan is pleased to offer this retention bonus to you, and very grateful for your continued efforts to make Rowan successful.

 

Sincerely,

 

	/s/ Melanie M. Trent 	 
	Melanie M. Trent 	 
	SVP, CAO & Corporate Secretary	 

 

Acknowledged and agreed:

 

	/s/ Travis F. Brooks 	 
	Travis F. Brooks 	 
	SVP, Operations 	
	Date: August 7, 2013	 

 

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