Document:

Exhibit 10.53

 

[FORM OF] 2000 MANAGEMENT STOCKHOLDER’S
AGREEMENT

 

WHEREAS, this Management Stockholder’s Agreement (this “Agreement”) is
entered into as of the Grant Date
(the “Base Date”) between Amphenol Corporation, a Delaware Corporation
(the “Company”), and the Optionee (the “Management Stockholder”) (the Company
and the Management Stockholder being hereinafter collectively referred to as
the “Parties”).

 

WHEREAS, the Company has granted (and in the future may make additional
grants to) certain key employees of the Company (including the Management
Stockholder) options to purchase shares of the Company’s common stock (the “Common
Stock”) at a fixed exercise price per share (the “Base Price”) pursuant
to the terms of the Amended 2000 Stock Purchase and Option Plan for Key
Employees of Amphenol Corporation and Subsidiaries (the “Option Plan”)
and the related 2000 Non-Qualified Stock Option Agreement (any and all grants
under the Option Plan are hereinafter referred to as the “2000 Options”).

 

WHEREAS, this Agreement is one of several agreements (“Other Management
Stockholders’ Agreements”) which have been, or which in the future will be,
entered into between the Company and other individuals who are or will be key
employees of the Company or one of its subsidiaries (collectively, the “Other
Management Stockholders”).

 

NOW THEREFORE, to implement the foregoing and in consideration of the
grant of the Options and of the mutual agreements contained herein, the Parties
agree as follows:

 

1.                                       Common
Stock; Issuance of Options.

 

(a)                                  The
Company shall have no obligation to sell any Common Stock upon the exercise of
an Option to Purchase or otherwise to any person who is a resident or citizen
of a state or other jurisdiction in which the sale of Common Stock to him or
her would constitute a violation of the securities or “blue sky” laws of such
jurisdiction.

 

(b)                                 Subject
to the terms and conditions hereinafter set forth as of the Base Date (which
Base Date shall be different for future option awards, if any), the Company
shall issue to the Management Stockholder the Option to Purchase (as set forth
in the applicable Certificate of Stock Option
Grant) and the Optionee shall accept the applicable Non-Qualified
Stock Option Agreement as a precondition to the effectiveness of the Option to
Purchase.

 

2.                                       Management
Stockholder’s Representations, Warranties and Agreements.

 

(a)                                  The
Management Stockholder agrees and acknowledges that he will not, directly or
indirectly, offer, transfer, sell, assign, pledge, hypothecate or otherwise
dispose of (any such act being referred to herein as a “transfer”) any of the
Common Stock issuable upon exercise of the 2000 Options (the “Option Stock”)
unless such transfer complies with Section 3 of this Agreement.  If the Management Stockholder is an affiliate
(as defined under Rule 405 of the rules and regulations promulgated under the
Act and as interpreted by the Board of Directors of the Company) of the Company
(an “Affiliate”), the Management Stockholder also agrees and

 

 

acknowledges that he will not transfer any
shares of the Stock unless (i) the transfer is pursuant to an effective
registration statement under the Securities Act of 1933, as amended, and the
rules and regulations in effect thereunder (the “Act”), and in compliance with
applicable provisions of state securities laws or (ii) (A) counsel for the
Management Stockholder (which counsel shall be reasonably acceptable to the
Company) shall have furnished the Company with an opinion, satisfactory in form
and substance to the Company, that no such registration is required because of
the availability of an exemption from registration under the Act and (B) if the
Management Stockholder is a citizen or resident of any country other than the
United States, or the Management Stockholder desires to effect any transfer in
any such country, counsel for the Management Stockholder (which counsel shall
be reasonably satisfactory to the Company) shall have furnished the Company
with an opinion or other advice reasonably satisfactory in form and substance
to the Company to the effect that such transfer will comply with the securities
laws of such jurisdiction. 
Notwithstanding the foregoing, the Company acknowledges and agrees that
any of the following transfers are deemed to be in compliance with the Act and
this Agreement and no opinion of counsel is required in connection therewith:
(x) a transfer made pursuant to Sections 4, 8 or 9 hereof, (y) a transfer upon
the death of the Management Stockholder to his executors, administrators,
testamentary trustees, legatees or beneficiaries (the “Management Stockholder’s
Estate”) or a transfer to the executors, administrators, testamentary trustees,
legatees or beneficiaries of a person who has become a holder of Stock in
accordance with the terms of this Agreement, provided that it is expressly
understood that any such transferee shall be bound by the provisions of this
Agreement and (z) a transfer made after the Base Date in compliance with the
federal securities laws to a trust or custodianship the beneficiaries of which
may include only the Management Stockholder, his spouse or his lineal
descendants (a “Management Stockholder’s Trust”) provided that such transfer is
made expressly subject to this Agreement.

 

The certificate (or certificates) representing the Stock shall bear the
following legend:

 

“THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE TRANSFERRED,
SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS SUCH
TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION COMPLIES
WITH THE PROVISIONS OF THE 2000 MANAGEMENT STOCKHOLDER’S AGREEMENT BETWEEN
AMPHENOL CORPORATION (“THE COMPANY”) AND THE MANAGEMENT STOCKHOLDER NAMED ON
THE FACE HEREOF (A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY).”

 

(b)                                 The
Management Stockholder acknowledges that (i) the Company has caused a
Registration Statement on Form S-8 covering shares of Common Stock to be issued
pursuant to the exercise of options under the 2000 Option Plan to be filed
effective April 19, 2002, (ii) a restrictive legend in the form heretofore
set forth shall be placed on any certificates representing the Stock and (iii)
a notation shall be made in the appropriate records of the Company and the
representatives of the Company indicating that the Stock is subject to
restrictions on transfer and appropriate stop transfer restrictions will be
issued to the Company’s transfer agent with respect to the Stock.  If the Management Stockholder is an
Affiliate, the Management Stockholder also acknowledges that (1) the Option
Stock must be held indefinitely and the Management Stockholder must continue to
bear the economic risk of any investment in the Option Stock unless it is
subsequently registered under the Act or an exemption from such

 

 

registration is available, (2) when and if shares of the Option Stock
may be disposed of without registration in reliance on Rule 144 of the rules
and regulations promulgated under the Act, such disposition can be made only in
limited amounts in accordance with the terms and conditions of such Rule or (3)
if the Rule 144 exemption is not available, public sale without registration
will require compliance with some other exemption under the Act.

 

(c)                                  If
any shares of the Stock are to be disposed of in accordance with Rule 144 under
the Act or otherwise, the Management Stockholder shall promptly notify the
Company of such intended disposition and shall deliver to the Company at or
prior to the time of such disposition such documentation as the Company may
reasonably request in connection with such sale and, in the case of a
disposition pursuant to Rule 144, shall deliver to the Company an executed copy
of any notice on Form 144 required to be filed with the Securities and Exchange
Commission (the “SEC”).

 

(d)                                 The
Management Stockholder agrees that, if any shares of the capital stock of the
Company are offered to the public pursuant to an effective registration
statement under the Act (other than registration of securities issued under an
employee plan), the Management Stockholder will not effect any public sale or
distribution of any shares of the Stock not covered by such registration
statement from the time of the receipt of a notice from the Company that the
Company has filed or imminently intends to file such registration statement to,
or within 180 days after, the effective date of such registration statement,
unless otherwise agreed to in writing by the Company.

 

3.                                       Restriction
on Transfer

 

Except for transfers permitted (a) by clauses (x), (y) and (z) of Section 2(a),
(b) by a sale of shares of Stock pursuant to an effective registration
statement under the Act filed by the Company, and (c) pursuant to the Sale
Participation Agreement dated as of June 6, 2000 (the “2000 Sales
Participation Agreement”), the Management Stockholder agrees that he will not
transfer any shares of the Stock at any time prior to June 6, 2005.  No transfer of any such shares in violation
hereof shall be made or recorded on the books of the Company and any such
transfer shall be void and of no effect. 
Notwithstanding anything in this Agreement to the contrary, the
provisions of this Section 3 shall lapse and be of no further force and
effect upon the occurrence of a Control Event. 
For purposes of this Section 3, a “Control Event” shall be deemed
to have occurred at such time as (i) a person or group that is not the
Partnership and NXS (as hereinafter defined), or an affiliate of the
Partnership or NXS, holds a greater percentage of the total outstanding shares
of the Company (on a fully diluted basis) than that held by the Partnership and
NXS (and any of their affiliates) and (ii) a person or group that is not
the Partnership, NXS (and any of their affiliates) has the ability to elect
more members of the Board of Directors of the Company than the Partnership, NXS
or any of their affiliates.

 

4.                                       The
Management Stockholder’s Sale of Stock and 2000 Options Upon The Management
Stockholder’s Retirement, Death or Disability or in Case of Certain
Terminations of Employment. 

 

Except as otherwise provided herein, Management Stockholder may not
sell or transfer any Stock prior to June 6, 2005 unless (i) the Management
Stockholder has retired from the Company or its subsidiary at age 65 or over
(or such other age as may be approved by the

 

 

Compensation Committee of the Board of Directors of the Company), or
(ii) the Management Stockholder dies, or (iii) the Management Stockholder
becomes permanently disabled.  In such
instances the Management Stockholder, the Management Stockholder’s Estate or a
Management Stockholder’s Trust, as the case may be, shall have the right to
sell all or any portion of the shares of Stock then held by the Management
Stockholder, the Management Stockholder’s Estate and/or the Management
Stockholder’s Trust, as the case may be in an open market transaction free of
any continuing restrictions under this Agreement. For purposes of this
Agreement, the Management Stockholder shall be deemed to have a “permanent
disability” if the Management Stockholder is unable to engage in the activities
required by the Management Stockholder’s job by reason of any medically
determined physical or mental impairment which can be expected to result in
death or which has lasted or can be expected to last for a continuous period of
not less than 12 months.

 

5.                                       Definitions

 

(a)                                  For
purposes of this Agreement the following definitions shall apply:  “Cause” shall mean (i) the Management
Stockholder’s willful and continued failure to perform Management Stockholder’s
duties with respect to the Company or its subsidiaries which continues beyond
ten days after a written demand for substantial performance is delivered to
Management Stockholder by the Company or (ii) misconduct by Management
Stockholder involving (x) dishonesty or breach of trust in connection with
Management Stockholder’s employment or (y) conduct which would be a reasonable
basis for an indictment of Management Stockholder for a felony or for a
misdemeanor involving moral turpitude or (z) which the Committee determines is
likely to result in a demonstrable injury to the Company; and “Good Reason”
shall mean (i) reduction in Management Stockholder’s base salary (other than a
broad based salary reduction program affecting many members of management),
(ii) a substantial reduction in Management Stockholder’s duties and
responsibilities other than as approved by the Chief Executive Officer of the
Company as of the date of this Agreement, (iii) the elimination or reduction of
the Management Stockholder’s eligibility to participate in the Company’s
benefit programs that is inconsistent with the eligibility of similarly
situated employees of the Company to participate therein, or (iv) a transfer of
the Management Stockholder’s primary workplace by more than fifty (50) miles
form the workplace as of the date hereof.

 

(b)                                 For
purposes of this Agreement, the KKR 1996 Fund L.P., a Delaware limited
partnership shall mean the “Partnership” and NXS Associates, L.P., a Delaware
limited partnership shall mean “NXS”.

 

6.                                       Continuing
Effectiveness of Agreement

 

(a)                                  The
Company may from time to time grant to the Management Stockholder additional
options under the 2000 Option Plan to purchase shares of Common Stock at a
different Base Price.  Unless agreed
otherwise any and all option awards after May 1, 2002 under the 2000 Option
Plan shall be subject to the terms and conditions of this Agreement.

 

7.                                       The
Company’s Representations and Warranties.

 

(a)                                  The
Company represents and warrants to the Management Stockholder that (i) this
Agreement has been duly authorized, executed and delivered by the Company and

 

 

(ii) the Stock, when issued and delivered in
accordance with the terms hereof, will be duly and validly issued, fully paid
and nonassessable.

 

(b)                                 The
Company will file the reports required to be filed by it under the Act and the
Exchange Act and the rules and regulations adopted by the SEC thereunder, to
the extent required from time to time to enable the Management Stockholder to
sell shares of Stock without registration under the Act within the limitations
of the exemptions provided by (A) Rule 144 under the Act, as such Rule may be
amended from time to time, or (B) any similar rule or regulation hereafter
adopted by the SEC.  Notwithstanding
anything contained in this Section 7(b), the Company may de-register under
Section 12 of the Act if it is then permitted to do so pursuant to the
Exchange Act and the rules and regulations thereunder and, in such
circumstances, shall not be required hereby to file any reports which may be
necessary in order for Rule 144 or any similar rule or regulation under the Act
to be available.  Nothing in this Section 7(b)
shall be deemed to limit in any manner the restrictions on sales of Stock
otherwise contained in this Agreement.

 

8.                                       “Piggyback”
Registration Rights.

 

(a)                                  The
Company will promptly notify the Management Stockholder (a “Notice”) of any
proposed registration (a “Proposed Registration”) in connection with any
offering of shares of Common Stock held by the Partnership or NXS or their
affiliates.  If within 2 business days of
the receipt by the Management Stockholder of such Notice, the Company receives
from the Management Stockholder, the Management Stockholder’s Estate or the
Management Stockholder’s Trust a written request (a “Request”) to register and
sell shares of Stock held by the Management Stockholder, the Management
Stockholder’s Estate or the Management Stockholder’s Trust (which Request to
register and sell will be irrevocable regardless of the final offering price
and underwriters discounts, unless otherwise mutually agreed to in writing by
the Management Stockholder and the Company), shares of Stock will be so
registered and sold as provided in this Section 8; provided, however,
that for each such registration statement only one Request, which shall be
executed by the Management Stockholder, the Management Stockholder’s Estate or
the Management Stockholder’s Trust, as the case may be, may be submitted for
all registrable securities held by the Management Stockholder, the Management
Stockholder’s Estate or the Management Stockholder’s Trust.

 

(b)                                 The
maximum number of shares of Stock which will be registered pursuant to a
Request will be the lowest of (i) the number of shares of Stock then held by
the Management Stockholder (which for purposes of this subparagraph (b) shall
include shares held by the Management Stockholder’s Estate or a Management
Stockholder’s Trust), including all shares of Stock which the Management
Stockholder is then entitled to acquire under an unexercised Option to the
extent then vested and exercisable or (ii) the maximum number of shares of
Stock which the Company can register in the Proposed Registration without
adverse effect on the offering in the view of the managing underwriters
(reduced pro rata with all Other Management Stockholders) as more fully described
in subsection (c) of this Section 8 or (iii) the maximum number of
shares which the Management Stockholder and all Other Management Stockholders
(pro rata based upon the aggregate number of shares of Stock the Management
Stockholder and all Other Management Stockholders have requested be registered)
are permitted to register under the 2000 Registration Rights Agreement.

 

 

(c)                                  If
a Proposed Registration involves an underwritten offering and the managing
underwriter advises the Company that, in its opinion, the number of shares of
Stock requested to be included in the Proposed Registration exceeds the number
which can be sold in such offering, so as to be likely to have an adverse
effect on the price, timing or distribution of the shares of Stock offered to
the public as contemplated by the Company, then the Company will include in the
Proposed Registration (i) first, 100% of the shares of Stock the Company
proposes to sell and (ii) second, to the extent of the number of shares of
Stock requested to be included in such registration which, in the opinion of
such managing underwriter, can be sold without having the adverse effect
referred to above, the number of shares of Stock which the selling
stockholders, including without limitation, the Management Stockholder and
Other Management Stockholders, have requested to be included in the Proposed
Registration, such amount to be allocated pro rata among all requesting selling
stockholders on the basis of the relative number of shares of Stock then held
by each such selling stockholders (provided that any shares thereby allocated
to any such selling stockholders that exceed such selling stockholder’s request
will be reallocated among the remaining requesting selling stockholders in a
like manner).

 

(d)                                 Upon
delivering a Request, the Management Stockholder will, if requested by the
Company, execute and deliver a custody agreement and power of attorney in form
and substance satisfactory to the Company with respect to the shares of Stock
to be registered pursuant to this Section 8 (a “Custody Agreement and
Power of Attorney”).  The Custody
Agreement and Power of Attorney will provide, among other things, that the
Management Stockholder will deliver to and deposit in custody with the
custodian and attorney-in-fact named therein a certificate or certificates
representing such shares of Stock (duly endorsed in blank by the registered
owner or owners thereof or accompanied by duly executed stock powers in blank)
and irrevocably appoint said custodian and attorney-in-fact as the Management
Stockholder’s agent and attorney-in-fact with full power and authority to act
under the Custody Agreement and Power of Attorney on the Management Stockholder’s
behalf with respect to the matters specified therein.

 

(e)                                  The
Management Stockholder agrees that he or she will execute such other agreements
as the Company may reasonably request to further evidence the provisions of
this Section 8.

 

(f)                                    Notwithstanding
anything herein to the contrary, the Committee acting in its sole discretion
may elect not to notify any Management Stockholder of a Proposed Registration
or may elect not to include any Management Stockholder’s Stock in the Proposed
Registration notwithstanding Management Stockholder’s Request and absent an
indication from the managing underwriters that inclusion of such Management
Stockholder’s Stock in the Proposed Registration will have an adverse effect on
the offering; provided  however that should the Committee elect
not to provide notice of a Proposed Registration to such Management Stockholder
or not to include any such Stock in the Proposed Registration, the Committee
shall cause the Company to offer to purchase such Stock from any such
Management Stockholder at the price that the Management Stockholder would have
received had he received notice of and/or elected to participate in the
Proposed Registration.

 

 

9.                                       Rights
to Negotiate Purchase.

 

Nothing in this Agreement shall be deemed to restrict or prohibit the
Company from purchasing shares of Stock or 2000 Options from the Management
Stockholder, at any time, upon such terms and conditions, and for such price,
as may be mutually agreed upon between the Parties.

 

10.                                 Notice
of Change of Beneficiary.

 

Immediately prior to any transfer of Stock to a Management Stockholder’s
Trust, the Management Stockholder shall provide the Company with a copy of the
instruments creating the Management Stockholder’s Trust and with the identity
of the beneficiaries of the Management Stockholder’s Trust.  The Management Stockholder shall notify the
Company immediately prior to any change in the identity of any beneficiary of
the Management Stockholder’s Trust.

 

11.                                 Expiration
of Certain Provisions.

 

The provisions contained in Sections 2(d), 3 and 4 of this Agreement,
and the portion of any other provisions of this Agreement which incorporate the
provisions of such Sections, shall terminate and be of no further force or
effect upon (i) the sale of all or substantially all of the assets of the
Company to a person or group that is not an affiliate of Kohlberg Kravis
Roberts & Co. L.P. (“KKR”), (ii) an acquisition of voting stock of the
Company resulting in more than 50% of the voting stock of the Company being
held by a person or group that does not include KKR or any of its affiliates or
(iii) the consummation of a merger, reorganization, business combination or
liquidation of the Company, but only if such merger, reorganization, business
combination or liquidation results in the Partnership or NXS or any affiliate
or affiliates thereof, together no longer having the power (a) to elect a
majority of the Board of Directors of the Company or such other corporation
which succeeds to the Company’s rights and obligations pursuant to such merger,
reorganization, business combination or liquidation, or (B) if the resulting
entity of such merger, reorganization, business combination or controlling the
operations and business of the resulting entity.  Such provisions and the portion of any other
provisions of this Agreement which incorporate such provisions shall also
terminate and be of no further force and effect if the Management Stockholder’s
employment is terminated.

 

12.                                 Recapitalizations,
etc.

 

The provisions of this Agreement shall apply, to the full extent set
forth herein with respect to the Stock or the 2000 Options, to any and all
shares of capital stock of the Company or any capital stock, partnership units
or any other security evidencing ownership interests in any successor or assign
of the Company (whether by merger, consolidation, sale of assets or otherwise)
which may be issued in respect of, in exchange for, or substitution of the
Stock or the 2000 Options, by reason of any stock dividend, split, reverse
split, combination, recapitalization, liquidation, reclassification, merger,
consolidation or otherwise.

 

13.                                 Management
Stockholder’s Employment by the Company.

 

Nothing contained in this Agreement or in any other agreement entered
into by the Company and the Management Stockholder contemporaneously with the
execution of this

 

 

Agreement (i) obligates the Company or any subsidiary of the Company to
employ the Management Stockholder in any capacity whatsoever or (ii) prohibits
or restricts the Company (or any such subsidiary) from terminating the
employment of the Management Stockholder at any time or for any reason
whatsoever, with or without Cause, and the Management Stockholder hereby
acknowledges and agrees that neither the Company nor any other person has made
any representations or promises whatsoever to the Management Stockholder
concerning the Management Stockholder’s employment or continued employment by
the Company or any subsidiary of the Company.

 

14.                                 State
Securities Laws.

 

The Company hereby agrees to use its best efforts to comply with all
state securities or “blue sky” laws which might be applicable to the sale of
the Stock and the issuance of the 2000 Options to the Management Stockholder.

 

15.                                 Binding
Effect.

 

The provisions of this Agreement shall be binding upon and accrue to
the benefit of the parties hereto and their respective heirs, legal
representatives, successors and assigns. 
In the case of a transferee permitted under Section 2(a) hereof,
such transferee shall be deemed the Management Stockholder hereunder; provided,
however, that no transferee (including without limitation, transferees referred
to in Section 2(a) hereof) shall derive any rights under this Agreement
unless and until such transferee has delivered to the Company a valid
undertaking and becomes bound by the terms of this Agreement.

 

16.                                 Amendment

 

This Agreement may be amended only by a written or electronic
instrument signed or accepted by the Parties hereto.

 

17.                                 Applicable
Law.

 

The laws of the State of Delaware shall govern the interpretation,
validity and performance of the terms of this Agreement, regardless of the law
that might be applied under principles of conflicts of law.  Any suit, action or proceeding against the
Management Stockholder, with respect to this Agreement, or any judgment entered
by any court in respect of any thereof, may be brought in any court of
competent jurisdiction in the State of Connecticut, and the Management
Stockholder hereby submits to the non-exclusive jurisdiction of such courts for
the purpose of any such suit, action, proceeding or judgment.  By the execution and delivery of this
Agreement, the Management Stockholder appoints The Corporation Trust Company,
at its office in Wilmington, Delaware, as the case may be, as his agent upon
which process may be served in any such suit, action or proceeding.  Service of process upon such agent, together
with notice of such service given to the Management Stockholder in the manner
provided in Section 20 hereof, shall be deemed in every respect effective
service of process upon him in any suit, action or proceeding.  Nothing herein shall in any way be deemed to
limit the ability of the Company to serve any such writs, process or summonses
in any other manner permitted by applicable law or to obtain jurisdiction over
the Management Stockholder, in such other jurisdictions and in such manner, as
may be permitted by applicable law.  The
Management

 

 

Stockholder hereby irrevocably waives any objections which he may now
or hereafter have to the laying of the venue of any suit, action or proceeding
arising out of or relating to this Agreement brought in any court of competent
jurisdiction in the State of Connecticut, and hereby further irrevocably waives
any claim that any such suit, action or proceeding brought in any such court
has been brought in any inconvenient forum. 
No suit, action or proceeding against the Company with respect to this
Agreement may be brought in any court, domestic or foreign, or before any
similar domestic or foreign authority other than in a court of competent
jurisdiction in the State of Connecticut, and the Management Stockholder hereby
irrevocably waives any right which he may otherwise have had to bring such an
action in any other court, domestic or foreign, or before any similar domestic
or foreign authority.  The Company hereby
submits to the jurisdiction of such courts for the purpose of any such suit, or
proceeding.  Each Party hereto hereby
irrevocably and unconditionally waives trial by jury in any legal action or
proceeding in relation to this Agreement and for any counterclaim therein.

 

18.                                 Miscellaneous.

 

In this Agreement (i) all references to “dollars” or “$” are to United
States dollars and (ii) the word “or” is not exclusive.  If any provision of this Agreement shall be
declared illegal, void or unenforceable by any court of competent jurisdiction,
the other provisions shall not be affected, but shall remain in full force and
effect.

 

19.                                 Notices.

 

All notices and other communications provided for herein shall be in
writing and shall be deemed to have been duly given if delivered by hand
(whether by overnight courier or otherwise) or sent by overnight delivery or
telecopy, to the Party to whom it is directed. 
In addition, the Company or the Company’s representatives may also
provide the Management Stockholder with notice via an appropriate email communication.

 

(a)                                  If
to the Company, to it at the following address:

 

Amphenol Corporation

358 Hall Avenue

Wallingford, Connecticut 06492

 

Attn: 
Martin Loeffler

Phone: (203) 265-8730

Fax:    
(203) 265-8628

with a copy to:

c/o Kohlberg Kravis Roberts & Co.

2800 Sand Hill Road Suite 200

Menlo Park, California 94025

 

Attn: 
Michael Michelson

Phone:  (650) 233-6560

Fax:     
(650) 233-6554

 

(b)                                 If
to the Management Stockholder, to him or her at the address (including email
address) set forth in the records of the Company;

 

 

or at such other address as either Party shall have specified by notice
in writing to the other.

 

20.                                 Covenant
Not to Compete; Confidential Information.

 

(a)                                  In
consideration of the Company entering into this Agreement with the Management
Stockholder, the Management Stockholder hereby agrees that for so long as the
Management Stockholder is employed by the Company or one of its subsidiaries
and for a period of one year thereafter (the “Noncompete Period”), the
Management Stockholder shall not, directly or indirectly, engage in the
production, sale or distribution of any product produced, sold, distributed or
which is in development by the Company or its subsidiaries on the date hereof
or during the Noncompete Period anywhere in the world in which the Company or
its subsidiaries is doing business other than through the Management
Stockholder’s employment with the Company or any of its subsidiaries.

 

(b)                                 In
the event that the Management Stockholder’s employment is terminated by the
Management Stockholder for Good Reason or by the Company without Cause, then as
additional required consideration for the Management Stockholder’s covenant not
to compete, the Company shall pay the Management Stockholder salary
continuation in an amount equal to 50% of such Management Stockholder’s base
salary on the date of the termination of the Management Stockholder’s
employment for the Noncompete Period.  In
the event that the Management Stockholder’s employment with the Company or any
of its subsidiaries is terminated by the Management Stockholder without Good
Reason or by the Company with Cause, then the Company shall not be required to
pay the Management Stockholder any additional consideration for the Management
Stockholder’s covenant not to compete.

 

(c)                                  At
the Company’s option, the Noncompete Period may be extended for an additional
one year period if (i) within nine months of the termination of the Management
Stockholder’s employment, the Company gives the Management Stockholder notice
of such extension and (ii) beginning with the first anniversary of such
termination, the Company agrees to continue to pay the Management Stockholder
salary continuation an amount equal to 50% of the Management Stockholder’s base
salary.  Each amount referred to in the
preceding two paragraphs shall be paid in installments in a manner consistent
with the then current salary payment policies of the Company.  For purposes of this Agreement, the phrase “directly
or indirectly engage in” shall include any direct or indirect ownership or
profit participation interest in such enterprise, whether as an owner,
stockholder, partner, joint venturer of otherwise, and shall include any direct
or indirect participation in such enterprise as a consultant, licensor of
technology or otherwise.  During the
Noncompete Period the Management Stockholder shall be free to work in any
employment approved by the Chief Executive Officer of the Company which
approval shall not be unreasonably withheld. 
Such approved employment shall not serve to reduce any payments that the
Management Stockholder is receiving pursuant to this provision.

 

(d)                                 The
Management Stockholder will not disclose or use at any time any Confidential
Information (as defined below) of which the Management Stockholder is or
becomes aware, whether or not such information is developed by him, except to
the extent that such disclosure or use is directly related to and required by
the Management Stockholder’s performance of duties, if any, assigned to the
Management Stockholder by the Company.  As
used in this Agreement, the term “Confidential Information” means information
that is not generally known to the public and that is used, developed or
obtained by the Company or its subsidiaries in connection with its business,
including but not limited to (i) products or services, (ii) fees, costs and
pricing structures, (iii) designs, (iv) computer software, including operating

 

 

systems, applications and program listings, (v) flow charts, manuals
and documentation, (vi) data bases, (vii) accounting and business methods,
(viii) inventions, devices, new developments, methods and processes, whether
patentable or unpatentable and whether or not reduced to practice, (ix)
customers, vendors and clients and customer, vendors or client lists, (x)
personnel information, (xi) other copyrightable works, (xii) all technology and
trade secrets, and (xiii) all similar and related information in whatever
form.  Confidential Information will not
include any information that has been published in a form generally available
to the public prior to the date the Management Stockholder proposes to disclose
or use such information.  The Management
Stockholder acknowledges and agrees that all copyrights, works, inventions,
innovations, improvements, developments, patents, trademarks and all similar or
related information which relate to the actual or anticipated business of the
Company and its subsidiaries (including its predecessors) and conceived,
developed or made by the Management Stockholder while employed by the Company or
its subsidiaries belong to the Company. 
The Management Stockholder will perform all actions reasonably requested
by the Company (whether during or after employment with the Company or the
Noncompete Period) to establish and confirm such ownership at the Company’s
expense (including without limitation assignments, consents, powers of attorney
and other instruments).  If the
Management Stockholder is bound by any other agreement with the Company
regarding the use or disclosure of Confidential Information, the provisions of
this Agreement shall be read in such a way as to further restrict and not to
permit any more extensive use or disclosure of confidential information.

 

(e)                                  Notwithstanding
clauses (a), (b), (c) and (d) above, if at any time a court holds that the
restrictions stated in such clauses (a), (b), (c) and (d) are unreasonable or
otherwise unenforceable under circumstances then existing, the parties hereto
agree that the maximum period, scope or geographic area determined to be
reasonable under such circumstances by such court will be substituted for the
stated period, scope or area.  Because
the Management Stockholder’s services are unique and because the Management
Stockholder has had access to Confidential Information, the parties hereto
agree that money damages will be an inadequate remedy for any breach of this
Agreement.  In the event a breach or
threatened breach of this Agreement, the Company or its successors or assigns
may, in addition to other rights and remedies existing in their favor, apply to
any court of competent jurisdiction for specific performance and/or injunctive
relief in order to enforce, or prevent any violations of, the provisions hereof
(without the posting of a bond or other security).Exhibit 10.54

 

[FORM OF] 2000 NON-QUALIFIED STOCK OPTION
AGREEMENT

 

THIS AGREEMENT, dated as of the Grant Date, is made by and between
AMPHENOL CORPORATION a Delaware corporation (hereinafter referred to as the “Company”),
and the holder of the Certificate of Stock
Option Grant, an employee of the Company or a Subsidiary (as defined
below) (hereinafter referred to as “Optionee”).

 

WHEREAS, the Company wishes to afford the Optionee the opportunity to
purchase shares of its Class A Common Stock, par value $.001 per share (the “Common
Stock”) as indicated in the Certificate of
Stock Option Grant;

 

WHEREAS, the Company wishes to carry out the Plan (as hereinafter
defined), the terms of which are hereby incorporated by reference and made a
part of this Agreement; and

 

WHEREAS, the Committee (as hereinafter defined), appointed to
administer the Plan, has determined that it would be to the advantage and best
interest of the Company and its stockholders to grant the Non-Qualified Option
to Purchase provided for herein to the Optionee as an incentive for increased
efforts during his or her employment with the Company or its Subsidiaries, and
has advised the Company thereof and instructed the Company to cause it
representatives to issue the Certificate of
Stock Option Grant;

 

NOW, THEREFORE, in consideration of the mutual covenants herein
contained and other good and valuable consideration, receipt of which is hereby
acknowledged, the parties hereto do hereby agree as follows:

 

ARTICLE I

 

DEFINITIONS

 

Whenever the following terms are used in this Agreement, they shall
have the meaning specified in the Plan or below unless the context clearly
indicates to the contrary.

 

Section 1.1- Affiliate

 

“Affiliate” shall mean, with respect to the Company or KKR (as
hereinafter defined), any corporation or entity directly or indirectly
controlling, controlled by, or under common control with, the Company or KKR.

 

Section 1.2- Cause

 

“Cause” shall mean, (i) the Optionee’s willful and continued failure to
perform his or her duties with respect to the Company or its Subsidiaries which
continues beyond 10 days after notice is provided to the Optionee by the
Company or (ii) misconduct by the Optionee (x) involving dishonesty or breach
of trust in connection with Optionee’s employment, (y) which would be a
reasonable basis for an indictment of the Optionee of a felony or a misdemeanor
involving moral turpitude or (z) which the Committee determines is likely to
result in a demonstrable injury to the Company.

 

 

Section 1.3 - Change of Control

 

“Change of Control” shall mean (i) a sale of all or substantially all
of the assets of the Company to a Person who is not an Affiliate of Kohlberg
Kravis Roberts & Co. L.P. (“KKR”), (ii) 
an acquisition of voting stock of the Company resulting in more than 50%
of the voting stock of the Company being held by a Person or Group that does
not include KKR or any of its Affiliates or (iii) the consummation of a merger,
reorganization, business combination or liquidation of the Company, but only if
such merger, reorganization, business combination or liquidation results in the
KKR 1996 Fund L.P., a Delaware limited partnership (the “Partnership”) or NXS
Associates L.P., or any affiliates or affiliates thereof, together no longer
having power (A) to elect a majority of the Board of Directors of the Company
or such other corporation which succeeds to the Company’s rights and obligation
pursuant to such merger, reorganization, business combination or liquidation,
or (B) if the resulting entity of such merger, reorganization, business
combination or liquidation is not a corporation, to select the general
partner(s) or other persons or entities controlling the operations and business
of the resulting entity.  See 3.1(a) for
application of Change of Control.

 

Section  1.4 - Code

 

“Code” shall mean the Internal Revenue Code of 1986, as amended.

 

Section 1.5- Committee

 

“Committee” shall mean the Compensation Committee of the Board of
Directors of the Company.

 

Section 1.6 - Good Reason

 

“Good Reason” shall mean (i) a reduction in Optionee’s base salary
(other than a broad based salary reduction program affecting many members of
management), (ii) a substantial reduction in Optionee’s duties and
responsibilities other than as approved by the Chief Executive Officer of the Company
as of the date of this Agreement, (iii) the elimination or reduction of the
Optionee’s eligibility to participate in the Company’s benefit programs that is
inconsistent with the eligibility of similarly situated employees of the
Company to participate therein, or (iv) a transfer of the Optionee’s primary
workplace by more than fifty (50) miles from the workplace as of the date
hereof.

 

Section 1.7 - Grant Date

 

“Grant Date” shall mean the date as of which the Option to Purchase
provided for in this Agreement was granted.

 

Section 1.8 - Group

 

“Group” means two or more Persons acting together as a partnership,
limited partnership, syndicate or other group for the purpose of acquiring,
holding or disposing of securities of the Company.

 

 

Section 1.9 - Management Stockholder’s
Agreement

 

“Management Stockholder’s Agreement” shall mean the 2000 Management
Stockholder’s Agreement, between the Optionee and the Company.

 

Section 1.10 - Option to Purchase

 

“Option to Purchase” shall mean the non-qualified option to purchase
Common Stock granted under the Certificate of
Stock Option Grant.

 

Section 1.11 - Permanent Disability

 

The Optionee shall be deemed to have a “Permanent Disability” if the
Optionee is unable to engage in the activities required by the Optionee’s job
by reason of any medically determined physical or mental impairment which can
be expected to result in death or which has lasted or can be expected to last
for a continuous period of not less than 12 months.

 

Section 1.12 - Person

 

“Person” means an individual, partnership, corporation, business trust,
joint stock company, trust, unincorporated association, joint venture,
governmental authority or other entity of whatever nature.

 

Section 1.13 - Plan

 

“Plan” shall mean The Amended 2000 Stock Purchase and Option Plan for
Key Employees of Amphenol and Subsidiaries.

 

Section 1.14 - Pronouns

 

The masculine pronoun shall include the feminine and neuter, and the
singular the plural, where the context so indicates.

 

Section 1.15 - Retirement

 

“Retirement” shall mean retirement at age 65 or over (or such other age
as may be approved by the Compensation Committee of the Board of Directors of
the Company) after having been employed by the Company or a Subsidiary for at
least three years after the Grant Date.

 

Section 1.16 - Secretary

 

“Secretary” shall mean the Secretary or an Assistant Secretary of the
Company.

 

 

Section 1.17 - Subsidiary

 

“Subsidiary” shall mean any corporation in an unbroken chain of
corporations beginning with the Company if each of the corporations, or group
of commonly controlled corporations (other than the last corporation in the
unbroken chain), then owns stock possessing 50% or more of the total combined
voting power of all classes of stock in one of the other corporations in such
chain.

 

Section 1.18 - Trigger Date

 

“Trigger Date” shall mean the date hereof.

 

ARTICLE II

 

GRANT OF OPTION TO PURCHASE

 

Section 2.1 - Grant of Option to
Purchase

 

For good and valuable consideration, on and as of the Grant Date hereof
the Company irrevocably grants to the Optionee, subject to Section 2.4, an
Option to Purchase any part or all of an aggregate of shares of its $.001 par
value Class A Common Stock as indicated in the Certificate of Stock Option Grant upon the terms and
conditions set forth in this Agreement.

 

Section 2.2 - “Grant Price”

 

Subject to Section 2.4, the exercise price of the shares of stock
covered by the Option to Purchase (the “Option to Purchase Grant Price”) shall
be as indicated in the Certificate of Stock
Option Grant per share without commission or other charge.

 

Section 2.3 - No Right to Employment

 

Nothing in this Agreement or in the Plan shall confer upon the Optionee
any right to continue in the employ of the Company or any Subsidiary or shall
interfere with or restrict in any way the rights of the Company and its
Subsidiaries, which are hereby expressly reserved, to terminate the employment
of the Optionee at any time for any reason whatsoever, with or without Cause.

 

Section 2.4 - Adjustments in Option to
Purchase Pursuant to Merger, Consolidation, etc.

 

Subject to Section 9 of the Plan, in the event that the
outstanding shares of the stock subject to an Option to Purchase are, from time
to time, changed into or exchanged for a different number or kind of shares of
the Company or other securities of the Company by reason of a merger,
consolidation, recapitalization, reclassification, stock split, stock dividend,
combination of shares, or otherwise, the Committee shall make an adjustment in
the number and kind of shares and/or the amount of consideration as to which or
for which, as the case may be, such Option to Purchase, or portions thereof
then unexercised, shall be exercisable, in such manner as the Committee
determines is reasonably necessary to maintain as nearly as practicable the
rights, benefits and obligations that the parties would have had absent such
event.  Any such adjustment made by the
Committee shall be final and binding upon the Optionee, the Company and all
other interested persons.

 

 

ARTICLE III

 

PERIOD OF EXERCISABILITY

 

Section 3.1 - Commencement of
Exercisability

 

(a)  an Option to Purchase shall
become exercisable as follows:

 

	
   

  	
   

  	
  Percentage of Option to Purchase

  	
   

  
	
  Date
  Option to Purchase

  	
   

  	
  Shares Granted As to Which

  	
   

  
	
  Becomes
  Exercisable

  	
   

  	
  Option to Purchase Is Exercisable

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  After the first anniversary of the Trigger
  Date

  	
   

  	
  20

  	
  %

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  After the second anniversary of the Trigger
  Date

  	
   

  	
  40

  	
  %

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  After the third anniversary of the Trigger
  Date

  	
   

  	
  60

  	
  %

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  After the fourth anniversary of the Trigger
  Date

  	
   

  	
  80

  	
  %

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  After the fifth anniversary of the Trigger
  Date

  	
   

  	
  100

  	
  %

  	
   

  

 

Notwithstanding the foregoing, (x) no Option to Purchase shall become
exercisable prior to the time the Plan is approved by the Company’s
stockholders, and (y) subject to the immediately preceding clause (x), the
Option to Purchase shall become immediately exercisable as to 100% of the
shares of Common Stock subject to such Option to Purchase immediately prior to
a Change of Control (but only to the extent such Option to Purchase have not
otherwise terminated or become exercisable). 
The sale or disposition of a division, business segment or Subsidiary of
the Company shall not cause an Option to Purchase to become immediately
exercisable.  Pursuant to the authority
granted to it in Section 5.1, the Committee shall decide what, if any,
Option to Purchase shall become exercisable and when any such Option to
Purchase must be exercised upon the sale or disposition of a division, business
segment or Subsidiary of the Company.

 

(b)  Notwithstanding the
foregoing, no Option to Purchase shall become exercisable as to any additional
shares of Common Stock following the termination of employment of the Optionee
for any reason other than a termination of employment because of death, Retirement
or Permanent Disability of the Optionee, and any Option to Purchase (other than
as provided in the next succeeding sentence) which is non-exercisable as of the
Optionee’s termination of employment shall be immediately cancelled.  In the event of a termination of employment
because of death, Retirement or Permanent Disability of the Optionee and
provided that the Optionee has been employed for at least three years after June 6,
2000, all Option to Purchase 

 

 

awarded hereunder shall become immediately exercisable.  If the Optionee has not been employed for
such three-year period, then Option to Purchase shall not become exercisable
for any additional shares of Common Stock.

 

Section 3.2 - “Grant Expiration Date”

 

The Option to Purchase may not be exercised to any extent by the
Optionee after the first to occur of the following events:

 

(a) The tenth anniversary of the Grant Date; or

 

(b) The first anniversary of the date of the Optionee’s termination of
employment by reason of death, Permanent Disability or Retirement.  For these purposes, termination of employment
shall mean the date on which the Optionee ceases working for the Company or a
Subsidiary of the Company or such later day as the Committee in their discretion
deems to be appropriate; or

 

(c) 90 days after termination of employment of the Optionee for any
reason other than for death, Permanent Disability or Retirement.  For these purposes, termination of employment
shall mean the date on which the Optionee ceases working for the Company or a
Subsidiary of the Company or such later day as the Committee in their
discretion deems to be appropriate; or

 

(d) If the Committee so elects pursuant to Section 9 of the Plan,
the effective date of a Transaction; provided, however, that the Committee has
provided Optionee with a reasonable period of notice prior to the effective
date of such Transaction in which to exercise Option to Purchase that have then
neither been fully exercised nor become unexercisable under this Section 3.2.

 

ARTICLE IV

 

EXERCISE OF OPTION TO PURCHASE

 

Section 4.1 - Person Eligible to
Exercise

 

Except as provided in the 2000 Management Stockholder’s Agreement,
during the lifetime of the Optionee, only he or his personal legal
representative may exercise an Option to Purchase or any portion thereof.  After the death of the Optionee, any
previously exercised portion of an Option to Purchase may, prior to the time
when an Option to Purchase becomes unexercisable under Section 3.2, be
exercised or by any person empowered to do so under the Optionee’s will or
under the then applicable laws of descent and distribution.

 

Section 4.2 - Partial Exercise

 

Any exercisable portion of an Option to Purchase or the entire Option
to Purchase, if then wholly exercisable, may be exercised in whole or in part
at any time prior to the time when the Option to Purchase or portion thereof
becomes unexercisable under Section 3.2; provided, however, that any
partial exercise shall be for whole shares of Common Stock only.

 

 

Section 4.3 - Manner of Exercise

 

An Option to Purchase, or any exercisable portion thereof, may be
exercised in the manner described in the Section titled “Exercising Your
Stock Options” appearing in “A Guide to the Amphenol Corporation Stock Option
Plan” appearing on the Company’s Client Home Page available through
www.benefitaccess.com.

 

The Optionee may be asked to provide a bona fide written representation
and agreement, in a form satisfactory to the Committee, signed by the Optionee
or other person then entitled to exercise such Option or portion thereof,
stating that the shares of stock are being acquired for his own account, for
investment and without any present intention of distributing or reselling said
shares or any of them except as may be permitted under the Securities Act of 1933,
as amended (the “Act”), and then applicable rules and regulations thereunder,
and that the Optionee or other person then entitled to exercise such Option or
portion thereof will indemnify the Company against and hold it free and
harmless from any loss, damage, expense or liability resulting to the Company
if any sale or distribution of the shares by such person is contrary to the
representation and agreement referred to above; provided, however, that the
Committee may, in its absolute discretion, take whatever additional actions it
deems appropriate to ensure the observance and performance of such
representation and agreement and to effect compliance with the Act and any
other federal or state securities laws or regulations; and

 

In the event the Option to Purchase or portion thereof shall be
exercised pursuant to Section 4.1 by any person or persons other than the
Optionee, appropriate proof of the right of such person or persons to exercise
the Option to Purchase.

 

Without limiting the generality of the foregoing, the Committee may
require an opinion of counsel acceptable to it to the effect that any
subsequent transfer of shares acquired on exercise of an Option to Purchase
does not violate the Act, and may issue stop-transfer orders covering such
shares.  Share certificates evidencing
stock issued on exercise of an Option to Purchase shall bear an appropriate
legend referring to the provisions of the second paragraph above and the
agreements herein.  The written
representation and agreement referred to in the second paragraph above shall,
however, not be required if the shares to be issued pursuant to such exercise
have been registered under the Act, and such registration is then effective in
respect of such shares.

 

Section 4.4 - Conditions to Issuance of
Stock Certificates

 

The shares of stock deliverable upon the exercise of an Option to
Purchase, or any portion thereof, may be either previously authorized but
unissued shares or issued shares which have then been reacquired by the
Company.  Such shares shall be validly
issued, fully paid and nonassessable. 
The Company shall not be required to issue or deliver any certificate or
certificates for shares of stock purchased upon the exercise of an Option to
Purchase or portion thereof prior to fulfillment of all of the following
conditions:

 

(a) The obtaining of approval or other clearance from any state or
federal governmental agency which the Committee shall, in its absolute
discretion, determine to be necessary

 

 

or advisable; and

 

(b) The lapse of such reasonable period of time following the exercise
of the Option to Purchase as the Committee may from time to time establish for
reasons of administrative convenience. 
Absent such a determination by the Committee, 20 business days shall be
deemed to be a reasonable period of time.

 

Section 4.5 - Rights as Stockholder

 

The holder of an Option shall not be, nor have any of the rights or
privileges of, a stockholder of the Company in respect of any shares
purchasable upon the exercise of the Option or any portion thereof unless and
until certificates representing such shares shall have been issued by the
Company to such holder.

 

ARTICLE V

 

MISCELLANEOUS

 

Section 5.1 - Administration

 

The Committee shall have the power to interpret the Plan and this
Agreement and to adopt such rules for the administration, interpretation and
application of the Plan as are consistent therewith and to interpret or revoke
any such rules.  All actions taken and
all interpretations and determinations made by the Committee shall be final and
binding upon the Optionee, the Company and all other interested persons.  No member of the Committee shall be
personally liable for any action, determination or interpretation made in good
faith with respect to the Plan or the Option to Purchase.  In its absolute discretion, the Board of
Directors may at any time and from time to time exercise any and all rights and
duties of the Committee under the Plan and this Agreement.

 

Section 5.2 - Option to Purchase Not
Transferable

 

Except as provided in the Management Stockholder’s Agreement, neither
the Option to Purchase nor any interest or right therein or part thereof shall
be liable for the debts, contracts or engagements of the Optionee or his
successors in interest or shall be subject to disposition by transfer,
alienation, anticipation, pledge, encumbrance, assignment or any other means
whether such disposition be voluntary or involuntary or by operation of law by
judgment, levy, attachment, garnishment or any other legal or equitable
proceedings (including bankruptcy), and any attempted disposition thereof shall
be null and void and of no effect; provided, however, that this Section 5.2
shall not prevent transfers by will or by the applicable laws of descent and
distribution.

 

Section 5.3 - Shares to Be Reserved

 

The Company shall at all times during the term of the Option to
Purchase reserve and keep available such number of shares of stock as will be
sufficient to satisfy the requirements of this Agreement.

 

 

Section 5.4 - Notices

 

Any notice to be given under the terms of this Agreement to the Company
shall be addressed to the Company in care of its Secretary, and any notice to
be given to the Optionee shall be addressed to him or her at the address
indicated in the records of the Company. 
By a notice given pursuant to this Section 5.4, either party may
hereafter designate a different address for notices to be given.  Any notice which is required to be given to
the Optionee shall, if the Optionee is then deceased, be given to the Optionee’s
personal representative if such representative has previously informed the
Company of his status and address by written notice to the Secretary of the
Company under this Section 5.4.  Any
notice shall be hand delivered, delivered by overnight delivery or sent via
confirmed telecopy.  Any notice to the
Optionee may also be delivered via email by the Company or the Company’s
representative to the email address of Optionee indicated in the records of the
Company.

 

Section 5.5 - Titles

 

Titles are provided herein for convenience only and are not to serve as
a basis for interpretation or construction of this Agreement.

 

Section 5.6 - Applicability of Plan
and Management Stockholder’s Agreement

 

The Option to Purchase and the shares of Common Stock issued to the
Optionee upon exercise of the Option to Purchase shall be subject to all of the
terms and provisions of the Plan and the Management Stockholder’s
Agreement.  In the event of any conflict
between this Agreement and the Plan, the terms of the Plan shall control.  In the event of any conflict between this
Agreement or the Plan and the Management Stockholder’s Agreement, the terms of
the Management Stockholder’s Agreement shall control.

 

Section 5.7 - Amendment

 

This Agreement may be amended only by a later dated instrument accepted
by the parties hereto which specifically states that it is amending this
Agreement; provided  however that the Committee in its reasonable
discretion may unilaterally amend the Agreement if it determines that usch
amendment would be beneficial to the Optionee.

 

Section 5.8 - Governing Law

 

The laws of the State of Delaware shall govern the interpretation,
validity and performance of the terms of this Agreement regardless of the law
that might be applied under principles of conflicts of laws.

 

Section 5.9 - Jurisdiction

 

Any suit, action or proceeding against the Optionee with respect to
this Agreement, or any judgment entered by any court in respect thereof, may be
brought in any court of competent jurisdiction in the State of Connecticut (or if
the Company moves its corporate headquarters to another state, in that state),
and the Optionee hereby submits to the non-exclusive jurisdiction of such
courts for the purpose of any such suit, action, proceeding or judgment.  The Optionee hereby irrevocably waives any
objections which he may now or hereafter have to the laying of the venue of any
suit, action or proceeding arising out of or relating to this Agreement brought
in any court of competent jurisdiction in the State of Connecticut (or if the Company
moves its

 

 

corporate headquarters to another state, in that state), and hereby
further irrevocably waives any claim that any such suit, action or proceeding
brought in any such court has been brought in any inconvenient forum.  No suit, action or proceeding against the
Company with respect to this Agreement may be brought in any court, domestic or
foreign, or before any similar domestic or foreign authority other than in a
court of competent jurisdiction in the State of Connecticut (or if the Company
moves its corporate headquarters to another state, in that state), and the
Optionee hereby irrevocably waives any right which he may otherwise have had to
bring such an action in any other court, domestic or foreign, or before any
similar domestic or foreign authority. 
The Company hereby submits to the jurisdiction of such courts for the
purpose of any such suit, action or proceeding. 
The Optionee hereby irrevocably and unconditionally waives trial by jury
in any legal action or proceeding in relation to this Agreement and for any
counterclaim therein.

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