Document:

Form of Director Offer Letter

 Exhibit 10.71 
  
 [Form of Director Offer Letter for Robert Bylin, Thomas Pardun and Kenneth Cole] 
  
 September 16, 2004 
  
 [Name] 
 [Address] 
  
 Dear Mr.             : 
  
 On behalf of Occam Networks, Inc. (the “Company”), I am
extremely pleased to invite you to become a member of the Company’s Board of Directors (the “Board”). It is our belief that your skills, expertise and knowledge will prove helpful to the progress of the Company. 
  
 In connection with your service as director, the Company has agreed to grant
you a non-qualified stock option entitling you to purchase up to 450,000 shares of the Company’s Common Stock (the “Director Option”). The shares issuable upon exercise of the Director Option will vest and become exercisable as
follows: 25% of the shares will vest and become exercisable on the 12 month anniversary of the commencement of your service as a director, and the remaining 75% will vest and become exercisable in 36 equal monthly installments. You will also receive
additional option grants of 25,000 shares, subject to the same vesting terms as above, each year that you serve, after the first year served. 
  
 The Director Option will be subject to the terms and conditions of the Discretionary Option Grant Program as defined in the Company’s 2000 Stock
Incentive Plan (the “Plan”) and the stock option agreement evidencing the Director Option. The exercise price per share will be equal to the fair market value of the Company’s common stock on the date of grant, as determined by
the Board in accordance with the Plan. [Notwithstanding the provisions of Article II, Section III of the Plan relating to the effect of a Corporate Transaction (as defined in the Plan) on outstanding options issued pursuant the Discretionary Option
Grant Program, in the event of any such Corporate Transaction, the vesting of the Director Option will accelerate immediately prior to the closing of such Corporate Transaction such that all shares underlying the Option will then be fully vested and
exercisable (regardless of whether the Director Option is assumed by the surviving or parent party to the Corporate Transaction).] 
  
 In consideration of your services, effective starting your first month of service as a member of the Board, you will be paid compensation as follows:

  

	 	a)	$4,000 per quarter, 

  

	 	b)	$1000 per meeting that you attend – this includes eight regularly scheduled Board meetings. Please note that additional meetings may be scheduled in addition to the regularly
scheduled meetings. 

  

	 	c)	$250 per meeting for ad-hoc telephonic meetings. 

  
 In accepting this offer, you are representing to us that (i) you do not know of any conflict that would restrict you from becoming a director of the
Company and (ii) you will not provide the Company with any documents, records or other confidential information belonging to any other parties. 

 If you wish to accept this offer, please sign below and return the fully executed letter to us. You
should keep one copy of this letter for your own records. 
  
 We
are looking forward to having you join us at the Company. We believe that your enthusiasm and past experience will be an asset to the Company and that you will have a positive impact on the organization. If you have any questions, please call me at
(805) 692-2995. 
  
 Sincerely, 

 
 On behalf of the Board of Directors of Occam Networks,
Inc. 
  

	
	
	 
	 Bob Howard-Anderson
 President & CEO

  

			
	 ACCEPTED AND AGREED TO THIS

		
	                       day of	 	                                      
             , 2004
	
	

  

	

  

 2Exhibit 10.1

SECURITIES PURCHASE AGREEMENT

          This Securities Purchase Agreement is made as of the 22nd day of September, 2005, between Rentech, Inc. (the “Company”), a Colorado corporation, and each purchaser whose name is set forth on Exhibit A hereto (each a “Purchaser” and collectively, the “Purchasers”).

          IN CONSIDERATION of the mutual covenants contained in this Agreement, the Company and each Purchaser, intending to be legally bound, agree as follows:

          1.          Authorization of Sale of the Shares.  Subject to the terms and conditions of this Agreement, the maximum number of shares (each a “Share,” and together the “Shares”) of common stock of the Company (“Common Stock”) that the Company has authorized to be sold pursuant to this Agreement is 13,436,000.

          2.          Agreement to Sell and Purchase the Shares.  At the Closing (as defined in Section 3), the Company will sell to each Purchaser, and such Purchaser will buy from the Company, upon the terms and conditions hereinafter set forth, the number of Shares shown, and at the purchase price shown, opposite such Purchaser’s name on Exhibit A hereto.  

          3.          Delivery of the Shares at the Closing; Conditions.  The completion of the purchase and sale of the Shares (the “Closing”) shall occur as soon as practicable after the satisfaction of the conditions specified below (the “Closing Date”).  At the Closing, the Company shall deliver to each Purchaser one or more stock certificates for the Shares registered in the name of such Purchaser as set forth in Exhibit A, or in such name(s) as may be designated by such Purchaser (the “Certificates”).  Each Purchaser’s obligation to deliver, or cause to be delivered, immediately available funds in the full amount of the aggregate purchase price for the Shares being purchased by it at the Closing shall be subject to the satisfaction of the following conditions: (i) receipt by each Purchaser, or its
designee, of such Purchaser’s Certificates in form acceptable to such Purchaser; and (ii) the accuracy of the representations and warranties made by the Company as of the Closing and the fulfillment of those covenants of the Company to be fulfilled prior to the Closing.  The obligations of the Company and each Purchaser to consummate the purchase and sale of the Shares shall also be subject to the following conditions: (x) the approval of the Company’s additional listing application for the listing of the Shares to be on the American Stock Exchange, and (y) no stop order or other order suspending the Registration Statement shall have been issued and no proceedings for that purpose shall have been initiated or threatened by the Securities and Exchange Commission or any other governmental authority.

          4.          Representations, Warranties and Covenants of the Company.  The Company hereby represents and warrants to, and covenants with, each Purchaser as follows:

                        4.1.          Organization, Good Standing and Qualification.  The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Colorado and has all requisite corporate power and authority to own, lease and operate its properties and assets and to carry on its business as currently conducted, to execute and deliver this Agreement, to issue and sell the Shares and to carry out the provisions of this Agreement.  The Company and its subsidiaries are duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or to be in good
standing would not result in a material adverse effect on the business, properties or financial condition of the Company and its subsidiaries, taken as a whole.

                        4.2.          Authorization.  All corporate action on the part of the Company, its officers, directors and shareholders necessary for the authorization, execution and delivery of this Agreement, the performance of all obligations of the Company hereunder, and the authorization, issuance, sale and delivery of the Shares has been taken. This Agreement has been duly executed and delivered by the Company and constitutes the valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject to bankruptcy, insolvency, moratorium, reorganization and similar laws of general applicability affecting the rights and remedies of creditors and to general principles of equity.

                        4.3.          Consents.  Assuming the accuracy of the representations and warranties of each Purchaser set forth in this Agreement or any of the Agreements, no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority or with any other person or entity on the part of the Company (including any approvals or consents required under any state securities or “Blue Sky” laws), other than the approval of the American Stock Exchange for the listing of the Shares. 

                        4.4.          Capital Stock.

                                        (a)          The authorized capital stock of the Company consists of (i) 250,000,000 shares of Common Stock, of which 95,005,115 shares were issued and outstanding as of September 21, 2005, (ii) 90,000 shares of Preferred Stock, of which (x) 81,000 shares designated as Series A Preferred Stock were issued and outstanding as of September 21, 2005 and (y) 0 shares designated as Series C Preferred Stock were issued and outstanding as of September 21, 2005.  All issued and outstanding shares of Common Stock and Series A Preferred Stock, and all outstanding shares of capital stock of the Company’s subsidiaries, (i) have been duly authorized and validly issued, (ii) are fully
paid and non-assessable, and (iii) have been issued in compliance with applicable state and federal securities laws.  None of the issued and outstanding shares of Common Stock, Series A Preferred Stock or shares of capital stock of any of the Company’s subsidiaries was issued in violation of preemptive or other similar rights of any securityholder of the Company, and the issuance and sale of the Shares to the Purchasers by the Company will not violate any preemptive or other similar rights of any securityholder of the Company.  The Company owns all of the outstanding stock of its subsidiaries, free and clear of all liens and encumbrances.  

                                        (b)          The Company has registered its Common Stock pursuant to Section 12(b) or 12(g) of the Securities Exchange Act of 1934, as amended (together with the rules and regulations promulgated thereunder, the “Exchange Act”), and is in material compliance with all reporting requirements of the Exchange Act., and the shares of Common Stock that are issued and outstanding on the date of this Agreement are currently listed on the American Stock Exchange.  

2

                        4.5.          Issuance, Sale and Delivery of the Shares.  When issued and paid for pursuant to the terms hereof, the Shares to be sold hereunder by the Company will be validly issued and outstanding, fully paid and non-assessable shares of Common Stock.  Neither the sale of the Shares pursuant to this Agreement, nor the Company’s performance of its obligations under this Agreement, will (i) result in the creation or imposition of any liens, charges, claims or other encumbrances upon the Shares or any of the assets of the Company or any subsidiary of the Company, (ii) entitle the holders of the outstanding Common Stock to preemptive or other rights to subscribe to or acquire Common Stock or other securities of the Company or any of its subsidiaries, or
(iii) result in any adjustment of the exercise price, conversion price or rate or number of securities which can be acquired upon exercise or conversion of any securities of the Company outstanding on the date hereof.

                        4.6.          Registration of Shares.  The Shares will be issued pursuant to a Registration Statement on Form S-3 which has been filed by the Company and declared effective by the Securities and Exchange Commission (the “Registration Statement”).  No stop order or other order suspending the Registration Statement has been issued and, to the best of the Company’s knowledge, no proceedings for that purpose have been initiated or threatened by the Securities and Exchange Commission or any other governmental authority.  

                       4.7          SEC Disclosure.  Since January 1, 2002, the Company has filed with the Securities and Exchange Commission (“SEC”), in a timely manner, all reports, forms, filings, registration statements and other documents (including all exhibits, post-effective amendments and supplements thereto) required to be filed or otherwise filed by it with the SEC, including all reports filed on Form 8-K, prior to the date of this Agreement (collectively, the “Past SEC Documents”).  As of its filing date or effective date, as appropriate, each Past SEC Document complied in all material respects with the applicable requirements of the Securities Act and/or the Exchange Act, as the case may be (except to the extent amended, revised, or superseded by a
subsequently filed Past SEC Document).  No Past SEC Document, as of its filing date or effective date, as appropriate, contained any untrue statement of a material fact or omitted to state any material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading (except to the extent amended, revised, or superseded by a subsequently filed Past SEC Document).

          5.          Representations and Warranties of the Purchasers.  Each Purchaser represents and warrants to the Company that:

                       5.1          Such Purchaser is acquiring the Shares for investment, for the Purchaser’s account and with no view to the distribution thereof.  Such Purchaser has no present intent, agreement, understanding or arrangement to sell, assign or transfer all or any part of the Shares, or any interest therein, to any other person.

3

                       5.2          Such Purchaser is an “accredited investor” as that term is defined in Regulation D of the Securities and Exchange Commission.

                       5.3          Such Purchaser and its representatives have been given free and unrestricted access to all information concerning the Company, including the opportunity to ask questions of the officers and directors of the Company and to request any additional information the Purchaser may wish to consider in connection with the purchase of the Shares.  Such Purchaser has availed itself of that opportunity to the full extent desired.  Without limiting the generality of the foregoing, such Purchaser has obtained and read copies of the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2004, as amended, the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2005, and all Current Reports on Form 8-K filed by the Company
during the 2005 fiscal year.

                       5.4          Such Purchaser (a) has full right, power, authority and capacity to enter into this Agreement and to consummate the transactions contemplated hereby and has taken all necessary action to authorize the execution, delivery and performance of this Agreement, and (b) upon the execution and delivery of this Agreement, this Agreement shall constitute a valid and binding obligation of such Purchaser enforceable in accordance with its terms.

          6.          Survival of Representations, Warranties and Covenants.  Notwithstanding any investigation made by any party to this Agreement, all representations, warranties and covenants made by the Company and each Purchaser herein shall survive the Closing for a period of one (1) year.          

          7.          Miscellaneous.  This Agreement shall be governed by the laws of Massachusetts without regard to its conflict of laws provisions.  This Agreement may be executed in counterparts.

[END OF TEXT]

4

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized representatives on the date set forth below.

Dated:  September 22, 2005

	
  
Rentech, Inc.
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
By:
  	
  
/s/ Dennis L. Yakobson
  	
  
 
  
	
  
 
  	
  

  	
  
 
  
	
  Name:
  	
  
Dennis L. Yakobson
  	
  
 
  
	
  
Title:
  	
  
Chief Executive Officer
  	
  
 
  

PURCHASERS:

Name of Purchaser:  Wellington Management Company, LLP as investment advisor on behalf of the client accounts listed in Exhibit A

	
  
/s/  Julie A. Jenkins
  	
  
 
  
	
  

  	
  
 
  
	
  
Authorized   Signatory: Julie A. Jenkins
  	
  
 
  
	
  
Title:  Vice President and Counsel
  	
  
 
  

5

Exhibit A

	
  Legal Name
  	
   
 	
  
Shares
  	
   
 	
  
Purchase   Price
  	
   
 
	
  

  	
  
 
  	
  

  	
  

  	
  
 
  	
  

  	
  

  	
  
 
  
	
  
SEI U.S. Small Companies   Fund
  	
  
 
  	
  
 
  	
  
86,500
  	
  
 
  	
  
$
  	
  
198,950.00
  	
  
 
  
	
  Central States Small   Companies
  	
  
 
  	
  
 
  	
  
690,000
  	
  
 
  	
  
$
  	
  
1,587,000.00
  	
  
 
  
	
  
The Government of Singapore   Investment Corporation Pte Ltd
  	
  
 
  	
  
 
  	
  
915,000
  	
  
 
  	
  
$
  	
  
2,104,500.00
  	
  
 
  
	
  
Radian Group Inc.
  	
  
 
  	
  
 
  	
  
92,000
  	
  
 
  	
  
$
  	
  
211,600.00
  	
  
 
  
	
  Public Sector Pension   Investment Board
  	
  
 
  	
  
 
  	
  
662,000
  	
  
 
  	
  
$
  	
  
1,522,600.00
  	
  
 
  
	
  
Talvest Small Cap Cdn.   Equity Fund
  	
  
 
  	
  
 
  	
  
24,500
  	
  
 
  	
  
$
  	
  
56,350.00
  	
  
 
  
	
  
WTC-CIF Emerging Companies   Portfolio
  	
  
 
  	
  
 
  	
  
937,000
  	
  
 
  	
  
$
  	
  
2,155,100.00
  	
  
 
  
	
  The Dow Chemical Employees’   Retirement Plan
  	
  
 
  	
  
 
  	
  
499,000
  	
  
 
  	
  
$
  	
  
1,147,700.00
  	
  
 
  
	
  
Government of Singapore   Investment Corporation Pte Ltd
  	
  
 
  	
  
 
  	
  
323,500
  	
  
 
  	
  
$
  	
  
744,050.00
  	
  
 
  
	
  
WTC-CTF Emerging Companies   Portfolio
  	
  
 
  	
  
 
  	
  
880,000
  	
  
 
  	
  
$
  	
  
2,024,000.00
  	
  
 
  
	
  The Robert Wood Johnson   Foundation
  	
  
 
  	
  
 
  	
  
580,000
  	
  
 
  	
  
$
  	
  
1,334,000.00
  	
  
 
  
	
  
Ohio Carpenters’ Pension Fund
  	
  
 
  	
  
 
  	
  
158,500
  	
  
 
  	
  
$
  	
  
364,550.00
  	
  
 
  
	
  
British Columbia Investment   Management Corporation
  	
  
 
  	
  
 
  	
  
269,500
  	
  
 
  	
  
$
  	
  
619,850.00
  	
  
 
  
	
  Laborers’ District Council   and Contractors’ of Ohio Pension Fund
  	
  
 
  	
  
 
  	
  
92,500
  	
  
 
  	
  
$
  	
  
212,750.00
  	
  
 
  
	
  
Howard Hughes Medical   Institute
  	
  
 
  	
  
 
  	
  
506,500
  	
  
 
  	
  
$
  	
  
1,164,950.00
  	
  
 
  
	
  
Oregon Investment Council
  	
  
 
  	
  
 
  	
  
879,500
  	
  
 
  	
  
$
  	
  
2,022,850.00
  	
  
 
  
	
  New York State Nurses   Association Pension Plan
  	
  
 
  	
  
 
  	
  
291,000
  	
  
 
  	
  
$
  	
  
669,300.00
  	
  
 
  
	
  
NZ Funds Global Small   Companies Trust
  	
  
 
  	
  
 
  	
  
87,500
  	
  
 
  	
  
$
  	
  
201,250.00
  	
  
 
  
	
  
J B Were Global Small   Companies Pooled Fund
  	
  
 
  	
  
 
  	
  
889,000
  	
  
 
  	
  
$
  	
  
2,044,700.00
  	
  
 
  
	
  Wellington Management   Portfolios (Dublin) – Global Smaller Companies Equity
  	
  
 
  	
  
 
  	
  
180,500
  	
  
 
  	
  
$
  	
  
415,150.00
  	
  
 
  
	
  
The Retirement Program Plan   for Employees of Union Carbide Corporation
  	
  
 
  	
  
 
  	
  
377,500
  	
  
 
  	
  
$
  	
  
868,250.00
  	
  
 
  
	
  
Retail Employees   Superannuation Pty Ltd
  	
  
 
  	
  
 
  	
  
251,000
  	
  
 
  	
  
$
  	
  
577,300.00
  	
  
 
  
	
  Pension Plan for Management   and Professionals of TELUS Corp-Alpha
  	
  
 
  	
  
 
  	
  
73,500
  	
  
 
  	
  
$
  	
  
169,050.00
  	
  
 
  
	
  
Pension Plan for Management   and Professionals of TELUS Corporation
  	
  
 
  	
  
 
  	
  
35,500
  	
  
 
  	
  
$
  	
  
81,650.00
  	
  
 
  
	
  
Telstra Super Pty LTD   –  Super Global Smaller Companies
  	
  
 
  	
  
 
  	
  
178,000
  	
  
 
  	
  
$
  	
  
409,400.00
  	
  
 
  
	
  SEI Institutional   Investments Trust, Small Cap Fund
  	
  
 
  	
  
 
  	
  
562,000
  	
  
 
  	
  
$
  	
  
1,292,600.00
  	
  
 
  
	
  
SEI Institutional Managed   Trust, Small Cap Growth Fund
  	
  
 
  	
  
 
  	
  
773,000
  	
  
 
  	
  
$
  	
  
1,777,900.00
  	
  
 
  
	
  
The Vantagepoint Funds:   Vantagepoint Aggressive Opportunities Fund
  	
  
 
  	
  
 
  	
  
723,500
  	
  
 
  	
  
$
  	
  
1,664,050.00
  	
  
 
  
	
  Australian Retirement Fund
  	
  
 
  	
  
 
  	
  
211,000
  	
  
 
  	
  
$
  	
  
485,300.00
  	
  
 
  
	
  
Emergency Services   Superannuation Board
  	
  
 
  	
  
 
  	
  
128,500
  	
  
 
  	
  
$
  	
  
295,550.00
  	
  
 
  
	
  
TALVEST Global Small Cap   Fund
  	
  
 
  	
  
 
  	
  
101,500
  	
  
 
  	
  
$
  	
  
233,450.00
  	
  
 
  
	
  Seligman Global Fund   Series, Inc. – Global Smaller Companies Fund
  	
  
 
  	
  
 
  	
  
364,500
  	
  
 
  	
  
$
  	
  
838,350.00
  	
  
 
  
	
  
SEI Institutional   Investments Trust, Small/Mid Cap Equity Fund
  	
  
 
  	
  
 
  	
  
282,000
  	
  
 
  	
  
$
  	
  
684,600.00
  	
  
 
  
	
  
Maritime Life Discovery   Fund
  	
  
 
  	
  
 
  	
  
168,000
  	
  
 
  	
  
$
  	
  
386,400.00
  	
  
 
  
	
  Goldman Sachs J B Were   Investment Management Pty Ltd, Commonwealth Global Share Fund
  	
  
 
  	
  
 
  	
  
64,500
  	
  
 
  	
  
$
  	
  
148,350.00
  	
  
 
  
	
  
Optimix Investment   Management Limited
  	
  
 
  	
  
 
  	
  
98,000
  	
  
 
  	
  
$
  	
  
225,400.00
  	
  
 
  
	
  
 
  	
  
 
  	
  

  	
  

  	
  
 
  	
  

  	
  

  	
  
 
  
	
  Total          
  	
   
  	
   
  	
  13,436,000
  	
   
  	
  $
  	
  30,902,800.00
  	
   
  

6

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