Document:

Exhibit 10.35

 

DITECH
COMMUNICATIONS CORPORATION

 

NONSTATUTORY
STOCK OPTION

 

(1999
NON-EMPLOYEE DIRECTORS’ STOCK OPTION PLAN)

 

[Name of optionholder], Optionholder:

 

DITECH
COMMUNICATIONS CORPORATION (the “Company”), pursuant
to its 1999 Non-Employee Directors’ Stock Option Plan (the “Plan”) has on [date
of grant] granted to you, the optionholder named above, an option to purchase
shares of the common stock of the Company (“Common Stock”).  This option is not intended to qualify and
will not be treated as an “incentive stock option” within the meaning of
Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”).

 

The grant hereunder is in connection with and
in furtherance of the Company’s compensatory benefit plan for participation of
the Company’s Non-Employee Directors (as defined in the Plan).

 

The details of your option are as follows:

 

1.             The
total  number
of shares of Common Stock subject to this option is [number of shares].  Subject to the limitations contained herein,
this option shall be exercisable in accordance with the Plan.

 

2.             The
exercise price of this option is [exercise price] per share, being the Fair
Market Value (as defined in the Plan) of the Common Stock on the date of grant
of this option.

 

3.             This
option is fully vest and may be exercised, as specified in the Plan, by
delivering a notice of exercise (in a form designated by the Company) together
with the exercise price to the Secretary of the Company, or to such other
person as the Company may designate, during regular business hours, together
with such additional documents as the Company may then require pursuant to
Section 10 of the Plan.  This option may
not be exercised for any number of shares that would require the issuance of
anything other than whole shares.

 

By exercising this option you agree that the
Company may require you to enter an arrangement providing for the cash payment
by you to the Company of any tax withholding obligation of the Company arising
by reason of the exercise of this option.

 

4.             Any
notices provided for in this option or the Plan shall be given in writing and
shall be deemed effectively given upon receipt or, in the case of notices
delivered by the Company to you, five (5) days after deposit in the United
States mail, postage prepaid, addressed to you at the address specified below
or at such other address as you hereafter designate by written notice to the
Company.

 

 

5.             This
option is subject to all the provisions
of the Plan, a copy of which is attached hereto and its provisions are hereby
made a part of this option, including without limitation the provisions of
Section 7 of the Plan relating to option provisions, and is further subject to
all interpretations, amendments, rules and regulations which may from time to
time be promulgated and adopted pursuant to the Plan.  In the event of any conflict between the provisions of this
option and those of the Plan, the provisions of the Plan shall control.

 

Dated the [date of agreement]

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  DITECH
  COMMUNICATIONS CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  William Tamblyn

  
	
   

  	
   

  	
  Duly authorized on behalf

  of the Board of Directors

  
				

 

ATTACHMENTS:

 

1999 Non-Employee Directors’ Stock Option Plan

 

 

The undersigned:

 

(a)           Acknowledges receipt of the foregoing
option and the attachments referenced therein and understands that all rights
and liabilities with respect to this option are set forth in the option and the
Plan;

 

(b)           Acknowledges that as of the date of
grant of this option, it sets forth the entire understanding between the
undersigned optionholder and the Company and its affiliates regarding the
acquisition of stock in the Company and supersedes all prior oral and written
agreements on that subject with the exception of (i) the options previously
granted and delivered to the undersigned under stock options plans of the
Company, and (ii) the following agreements only:

 

	
  NONE

  	
   

  	
   

  
	
   

  	
  (Initial)

  	
   

  
	
   

  	
   

  	
   

  
	
  OTHER

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

	
   

  	
   

  
	
   

  	
  OPTIONHOLDER

  
	
   

  	
   

  
	
   

  	
  [name of option holder]

  
	
   

  	
  Address

  
	
   

  	
   

  
	
   

  	
  [address of optionholder]Exhibit
10.1

 

THE J.
JILL GROUP, INC.

2004 Fall Season Special Bonus Plan

 

 

Purpose

 

The 2004 Fall Season
Special Bonus Plan (the “Special Bonus Plan”) is designed to provide financial
reward to the executive officers of The J. Jill Group, Inc. for their contributions
toward the Company’s exceeding its financial targets for the 2004 Fall Season.

 

Participation

 

•                  A
“Participating Employee” shall mean each of the following employees of
the Company:  (i) the President and Chief
Executive Officer; and (ii) any Executive Vice President.

 

•                  No
Participating Employee shall be entitled to receive a bonus under the Special
Bonus Plan unless the Participating Employee satisfies the eligibility criteria
set forth below.

 

Eligibility
Criteria

 

•                  A Participating Employee who has been
notified that he or she is in “performance counseling” pursuant to the
Company’s “Performance Improvement Process”  at
any time during the performance period will not be eligible for a bonus for the
performance period.

 

•                  To be eligible to receive a bonus for
the performance period, a Participating Employee must be actively employed for
a minimum of three months in the performance period.  Time on leave does not count as active
employment.

 

•                  To be eligible to receive a bonus for
the performance period, a Participating Employee must be employed on the last
day of the performance period.

 

Performance Period

 

This performance period
for the Special Bonus Plan runs from June 27, 2004 to December 25, 2004.

 

 

Calculation of Bonus Payment

 

•                  
Definitions:

 

•                  The
“Bonus Percentage” for a Participating Employee shall be a percentage
assigned to the Participating Employee for the purpose of calculating the
Participating Employee’s bonus, if any, under the Special Bonus Plan.  Bonus Percentages shall be as follows:

 

	
  Employee

  	
   

  	
  Bonus Percentage

  	
   

  
	
  President and CEO

  	
   

  	
  20%

  	
   

  
	
  Executive Vice
  President

  	
   

  	
  10%

  	
   

  

 

•                  Each
“Bonus Unit” for a Participating Employee means the Participating
Employee’s Bonus Percentage times the base salary paid to him or her for the
performance period.

 

•                  “Earnings
Per Share Percentage” for the performance period means a fraction, the
numerator of which is the Company’s Preliminary Earnings Per Share for the
performance period minus the Company’s Earnings Per Share Target for the
performance period and the denominator of which is $0.35, expressed as a
percentage.  If the Earnings Per Share
Percentage for the performance period would be a negative number, the Earnings
Per Share Percentage for the performance period shall be 0.

 

•                  “Earnings
Per Share Target” for the performance period means the Company’s fully
diluted earnings per share target for the performance period as set forth in
the Company’s 2004 Financial Plan.

 

•                  “Preliminary
Earnings Per Share” for the performance period means the amount the
Company’s fully diluted earnings per share for the performance period would be
if no bonuses under the Special Bonus Plan were paid for the performance
period. 

 

•                  If
the Company’s Preliminary Earnings Per Share for the performance period are less
than or equal to the Company’s Earnings Per Share Target for the performance
period, no bonuses shall be paid under the Special Bonus Plan.

 

•                  If
the Company’s Preliminary Earnings Per Share for the performance period are
greater than the Company’s Earnings Per Share Target for the performance
period, each eligible Participating Employee shall receive a bonus under the
Special Bonus Plan as follows:

 

2

 

	
  Earnings Per Share Percentage

  	
   

  	
  Number of Special Bonus Units

  	
   

  
	
  Less than 20%

  	
   

  	
  0

  	
   

  
	
  At least 20% but less
  than 40%

  	
   

  	
  1

  	
   

  
	
  At least 40% but less
  than 60%

  	
   

  	
  2

  	
   

  
	
  At least 60% but less
  than 80%

  	
   

  	
  3

  	
   

  
	
  At least 80% but less
  than 100%

  	
   

  	
  4

  	
   

  
	
  100% or more

  	
   

  	
  5

  	
   

  

 

Additional
Bonuses

 

Nothing in this Special
Bonus Plan shall be deemed to limit the authority of the Compensation Committee
or the President and CEO to award additional bonuses outside the Special Bonus
Plan in their discretion.

 

Payments

 

Bonus payments will be
made promptly following the close of the performance period.

 

Example

 

Assume the Participating
Employee’s annual base salary is $400,000, his or her Bonus Percentage is 10%,
and the Company’s Earnings Per Share Ratio for the performance period is 33%:

 

	
  Base

  Salary

  	
   

  	
  Salary for

  Performance

  Period

  	
   

  	
  Bonus %

  	
   

  	
  EPS %

  	
   

  	
  Bonus

  Units

  	
   

  	
  Bonus

  Amount

  	
   

  
	
  $

  	
  400,000

  	
   

  	
  $

  	
  200,000

  	
   

  	
  10

  	
  %

  	
  33

  	
  %

  	
  1

  	
   

  	
  $

  	
  20,000

  	
   

  
															

 

3

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