Document:

exv10w1

Exhibit 10.1

ACME PACKET, INC.

NON-STATUTORY STOCK OPTION AGREEMENT

(Form of Non-Statutory Stock Option for Executive Officers)

     This NON-STATUTORY STOCK OPTION AGREEMENT, dated as of <date> (this
“Agreement”), is between ACME PACKET, INC., a Delaware corporation (the “Company”),
and <Optionee Name> (the “Optionee”). Capitalized terms used herein without
definition shall have the meaning ascribed to such terms in the Company’s 2006 Equity Incentive
Plan, a copy of which is attached hereto as Exhibit A (the “Plan”).

     1. Grant of Option. Pursuant to the Plan, the Company grants to the
Optionee an option (the “Option”) to purchase from the Company all or any number of an
aggregate of <Number of Shares> shares, subject to adjustment pursuant to Section 8 of the
Plan (the “Option Shares”), of the Company’s common stock, $.001 par value per
share, at a price of $<price> per share. The Option is granted as of <Date of Grant>
(the “Grant Date”).

     2. Character of Option. The Option is not intended to be treated as
an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986,
as amended (the “Code”).

     3. Duration of Option. Unless subject to earlier expiration or
termination pursuant to the terms of the Plan, the Option shall expire on the ten year anniversary
of the Grant Date.

     4. Exercise of Option.

     (a) Vesting Schedule. The Option may be exercised, at any time and from time to time
until its expiration or termination, for any or all of those Option Shares in respect of which the
Option shall have become exercisable, in accordance with the provisions set forth below in this
Section 4, on or at any time prior to the date of any such exercise. Subject to the provisions of
the Plan (including, without limitation, the provisions of Section 7.1(e) of the Plan), the Option
shall become exercisable for (i) 25% of the Option Shares on [_________] (the “First
Vesting Date”), and (ii) for the remaining Option Shares in a series of twelve (12)
quarterly installments thereafter, with each installment being as nearly equal as practicable (as
determined by the Company in its reasonable discretion), with the first of such quarterly
installments becoming exercisable on the first day of the first calendar quarter after the First
Vesting Date and an additional of such quarterly installments becoming exercisable on the first
day of each calendar quarter thereafter (other than the last of such quarterly installments which
shall become exercisable on the third anniversary of the First Vesting Date if such third
anniversary is later than the first day of the calendar quarter in which such last installment
would have been otherwise exercisable) until the Option shall have become

 

 

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exercisable for all of the Option Shares1. Notwithstanding anything
expressed or implied to the contrary in the foregoing provisions of this Section 4(a), (A) the
exercisability of the Option shall, as provided in Section 4(b) below, be automatically Accelerated
under certain circumstances and (B) the exercisability of the Option may, as provided in Section
7.1(d) of the Plan, at any time be Accelerated in the discretion of the Committee.

     (b) Acceleration of Vesting. Notwithstanding anything in Section 4(a) above to the
contrary but subject to the provisions of Section 4(c) below, in the event that (A) a Change of
Control occurs prior to the time that the Option is exercisable in full for all of the Option
Shares, (B) the Optionee is an employee of the Company immediately prior to such Change of Control,
and (C) (i) the Optionee suffers any material adverse change in authorities, duties or
responsibilities, (ii) the Optionee voluntarily terminates his employment with the Company
following any relocation of the Optionee (without his written consent) by the Company to a location
that increases Optionee’s commute prior to such relocation by more than fifty (50) miles or (iii)
the Company terminates the Optionee’s employment with the Company for any reason or no reason
(other than Cause, as such term is defined in Section 4(d) below), in the case of any of the
foregoing clauses (i), (ii) or (iii) at any time within 365 days after the occurrence of such
Change of Control, then the exercisability of the Option shall be automatically Accelerated such
that the Option shall become exercisable for an additional number of Option Shares equal to one
hundred percent (100%) of the then Unvested Option Shares (as defined below in Section 4(d) below).
The foregoing provisions of this Section 4(b) shall be implemented ratably across all Unvested
Option Shares that are subject to the Option immediately prior automatic Acceleration pursuant to
this Section 4(b) regardless of when the Option would have otherwise become exercisable for such
Unvested Option Shares pursuant to Section 4(a) above. Notwithstanding anything express or implied
to the contrary in the foregoing provisions of this Section 4(b), the Option may, as provided in
Section 7.1(d) of the Plan, at any time be further accelerated at the discretion of the Committee.

     (c) Continuation of Employment by Successor. If the Optionee is an employee of the
Company immediately prior to a Change of Control, then employment of the Optionee following such
Change of Control by any person or entity that is the successor or acquiror of the Company as a
result of such Change of Control or that is the parent company or affiliate of such successor or
acquiror (in either case, the “Successor Employer”) shall be treated under this
Agreement as if the Optionee continued to be employed by the Company, and in such context any
reference in this Agreement to the Company shall be deemed to be a reference to the Successor
Employer.

     (d) Definitions.

“Cause” shall mean (i) if the Optionee is convicted of, or pleads guilty or no
contest to, a felony or any crime involving moral turpitude, deceit,

 

			
	1 	 	The specific vesting schedule of each option
granted under the Plan is determined at the discretion of the Committee on a
case-by-case basis at the time of grant.

 

 

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dishonesty or fraud; (ii) any act of embezzlement, theft, sexual harassment,
discrimination, fraud or other acts of a criminal nature by the Optionee in his
dealings with the Company or its employees or representatives, as determined by the
Board of Directors of the Company; (iii) the breach by the Optionee of any material
term of an agreement with the Company or any of its subsidiaries, including
covenants not to compete and provisions relating to confidential information and
intellectual property rights; or (iv) any failure by the Optionee to comply with a
specific directive given by the Company’s executive officers or Board of Directors
which failure has not been cured within 30 days after written notice from the
Company.

“Unvested Option Shares” shall mean, at the relevant time
of reference thereto, those Option Shares for which the Option has not yet become
exercisable at such time pursuant to Section 4(a) and without giving effect to the
provisions of Section 4(b) above.

     5. Transfer of Option. Other than as expressly permitted by the
provisions of Section 7.1(f) of the Plan, the Option may not be transferred except by will or the
laws of descent and distribution and, during the lifetime of the Optionee, may be exercised only by
the Optionee.

     6. Incorporation of Plan Terms. The Option is granted subject
to all of the applicable terms and provisions of the Plan, including, but not limited to, the
limitations on the Company’s obligation to deliver Option Shares upon exercise set forth in Section
9.1 (Violation of Law), Section 9.2 (Corporate Restrictions on Rights in Stock), Section 9.3
(Investment Representations) and Section 9.7 (Tax Withholding).

     7. Miscellaneous. This Agreement shall be construed and enforced in accordance with
the internal, substantive laws of The Commonwealth of Massachusetts and shall be binding upon and
inure to the benefit of any successor or assign of the Company and any executor, administrator,
trustee, guardian, or other legal representative of the Optionee.

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     IN WITNESS WHEREOF, the parties have executed this Non-Statutory Stock Option Agreement as a
sealed instrument as of the date first above written.

	 	 	 	 	 	 	 	 	 
	ACME PACKET, INC.	 	 	 	OPTIONEE	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	

	 	 

	 	 
	 	 

	 	 
	 

	 	Name:	 	 	 	 	 	 
	 

	 	Title	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Optionee’s Address:	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

 

Exhibit A

2006 Equity Incentive Planexv10w1

Exhibit 10.1

AMERICAN SUPERCONDUCTOR CORPORATION

First Amendment to Amended and Restated Executive Severance Agreement

     This First Amendment to Amended and Restated Executive Severance Agreement (“Amendment”) by
and between American Superconductor Corporation, a Delaware corporation (the “Company”), and Daniel
P. McGahn (the “Executive”) is made as of January 29, 2010.

     WHEREAS, the Company and the Executive are parties to an Amended and Restated Executive
Severance Agreement, dated as of December 23, 2008 (the “Agreement”);

     WHEREAS, the Company promoted the Executive to President and Chief Operating Officer and
adjusted the Executive’s severance payment period from 12 months to 18 months in connection
therewith;

     WHEREAS, the parties desire to amend the Agreement to effectuate such adjustment to the
Executive’s severance payment period; and

     WHEREAS, capitalized terms used herein and not otherwise defined herein shall have the
meanings ascribed to them in the Agreement.

     NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Company and the
Executive agree as follows:

     1. Effective as of December 11, 2009, the definition of “Severance Period” set forth in
Section 1.6 of the Agreement is hereby amended by deleting said section and by substituting
therefor:

“‘Severance Period’ shall mean the period of 18 months immediately following the Date of
Termination (as defined in Section 3.2(a) below).”

     2. All other provisions of the Agreement shall remain in full force and effect according to
their respective terms, and nothing contained herein shall be deemed a waiver of any right or
abrogation of any obligation otherwise existing under the Agreement except to the extent
specifically provided for herein.

     3. The validity, interpretation, construction and performance of this Amendment shall be
governed by the internal laws of the Commonwealth of Massachusetts, without regard to conflicts of
law principles.

     4. This Agreement may be executed in counterparts, each of which shall be deemed to be an
original but both of which together shall constitute one and the same instrument.

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to Amended and
Restated Executive Severance Agreement as of the day and year first set forth above.

	 	 	 	 	 	 	 
	 	 	AMERICAN SUPERCONDUCTOR CORPORATION

	 	 
	 

	 	Signature:
	 	/s/ David A. Henry
	 	 
	 

	 	 	 	 	 	 
	 

	 	Print name:
	 	David A. Henry	 	 
	 

	 	Title:
	 	Senior Vice President and Chief Executive Officer
	 	 
	 
	 	 	 	 	 	 
	 	 	EXECUTIVE	 	 
	 
	 	 	 	 	 	 
	 

	 	Signature:
	 	/s/ Daniel P. McGahn	 	 
	 

	 	 	 	 	 	 
	 

	 	Print name:
	 	Daniel P. McGahn	 	 

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