Document:

ex10_1.htm

    
      

    

    EXHIBIT
10.1

    

    

    Genentech,
Inc. 1991 Employee Stock Plan

    

    (Amended
and restated effective April 15, 2008)

    

    1. Purpose

     

    The
purpose of this 1991 Employee Stock Plan (the “Plan”) is to provide employees of
Genentech, Inc. (the “Company”), and its U.S. subsidiaries designated by the
Company’s Board of Directors, who wish to become stockholders of the Company an
opportunity to purchase (i) shares of Common Stock of the Company (the
“Shares”). The Plan is intended to qualify as an “employee stock purchase plan”
within the meaning of Section 423 of the Internal Revenue Code of 1986, as
amended (the “Code”).

     

    2.
Eligible Employees

     

    Subject
to the provisions of Sections 7, 8 and 9 below, any individual who is in the
full-time employment of the Company on the day on which a Grant Date (as defined
in Section 3 below) occurs is eligible to participate in an offering of
Shares made by the Company hereunder. In addition, the Board of Directors may at
any time designate one or more of the Company’s U.S. subsidiary corporations (as
defined in Section 425(f) of the Code) to be included in an offering of
Shares under the Plan. Full-time employment shall mean employment by the Company
or its designated U.S. subsidiary for:

     

    
      	 
      	
              (a)

            	
              20
      hours or more per week; and

            

    

     

    
      	 
      	
              (b)

            	
              more
      than five months in the calendar
year.

            

    

     

    3.
Grant Dates

     

    From
time to time, the Board of Directors may fix a date (a “Grant Date”) or a series
of dates (each of which is a “Grant Date”) on which the Company will grant
rights to purchase Shares (“Rights”) to employees eligible to
participate.

     

    4.
Prices

     

    The
purchase price per Share for Shares covered by a grant of Rights hereunder shall
be determined by the Board of Directors, but in no event shall be less than the
lesser of:

     

    
      	 
      	
              (a)

            	
              eighty-five
      percent (85%) of the fair market value of a Share on the Grant Date
      on which such Right was granted; or

            

    

     

    
      	 
      	
              (b)

            	
              eighty-five
      percent (85%) of the fair market value of a Share on the date such
      Right is exercised as to that
Share.

            

    

     

    5.
Exercise of Rights and Method of Payment

     

    
      	 
      	
              (a)

            	
              Rights
      granted under the Plan will be exercisable on specific dates as determined
      by the Board of Directors.

            

    

     

    
      	 
      	
              (b)

            	
              The
      method of payment for Shares purchased upon exercise of Rights granted
      hereunder shall be through regular payroll deductions or by lump sum cash
      payment, or both, as determined by the Board of Directors. No interest
      shall be paid upon payroll deductions or other payments in exercise of
      Rights unless specifically provided for by the Board of
      Directors.

            

    

     

    6.
Terms of Rights

     

    Rights
granted hereunder shall be exercisable during a twenty-seven (27) month
period or such shorter period as determined by the Board of Directors. All
Rights granted to an employee shall terminate upon termination of full-time
employment of the employee. Any payments received by the Company from a
participating employee with respect to a Right granted hereunder and not
utilized for the purchase of Shares upon exercise of such Right shall be
promptly returned to such employee by the Company after termination of such
Right, except that amounts that were not so utilized because such amounts were
insufficient to purchase a whole Share may be applied toward the purchase of
Shares pursuant to a Right subsequently granted hereunder, if any.

     

    7.
Shares Subject to the Plan

     

    No more
than Sixty Two Million Four Hundred Thousand (62,400,000) Shares may be
sold pursuant to Rights granted under the Plan. Appropriate adjustments in the
above figure, in the number of Shares covered by outstanding Rights granted
hereunder, in the exercise price of the Rights and in the maximum number of
Shares which an employee may purchase (pursuant to Section 9 below) shall
be made to give effect to any mergers, consolidations, reorganizations,
recapitalizations, stock splits, stock dividends or other relevant changes in
the capitalization of the Company occurring after the effective date of the
Plan, provided that no fractional Shares shall be subject to a Right and each
Right shall be adjusted downward to the nearest full Share. Any agreement of
merger or consolidation will include provisions for protection of the then
existing Rights of participating employees under the Plan. Either authorized and
unissued Shares or issued Shares heretofore or hereafter reacquired by the
Company may be made subject to Rights under the Plan. If for any reason any
Right under the Plan terminates in whole or in part, Shares subject to such
terminated Right may again be subject to a Right under the Plan.

     

    8.
Limitations on Grants

     

    Anything
to the contrary notwithstanding, pursuant to Section 423 of the
Code:

     

    
      	 
      	
              (a)

            	
              No
      employee shall be granted a Right hereunder if such employee, immediately
      after the Right is granted, owns stock possessing five percent
      (5%) or more of the total combined voting power or value of all
      classes of stock of the Company, its parent corporation (as defined in
      Section 425(c) of the Code) or any subsidiary corporation, in each
      case computed in accordance with Section 423(b)(3) of the
      Code.

            

    

     

    
      	 
      	
              (b)

            	
              No
      employee shall be granted a Right which permits his Rights to purchase
      Shares under all employee stock purchase plans of the Company and its
      subsidiaries to accrue at a rate which exceeds twenty-five thousand
      dollars ($25,000) (or such other maximum as may be prescribed from time to
      time by the Code) of fair market value of such Shares (determined at the
      time such Right is granted) for each calendar year in which such Right is
      outstanding at any time, all in accordance with the provisions of
      Section 423(b)(8) of the Code.

            

    

     

    9.
Limits on Participation

     

    
      	 
      	
              (a)

            	
              Participation
      shall be limited to eligible employees who enroll under the
      Plan.

            

    

     

    
      	 
      	
              (b)

            	
              No
      Right granted to any participating employee shall cover more than Ninety
      Six Thousand (96,000) Shares.

            

    

     

    
      	 
      	
              (c)

            	
              No
      more than One Million Four Hundred Forty Thousand (1,440,000) Shares
      may be purchased during any calendar quarter upon the exercise of Rights
      granted under the Plan; provided, however, that for those calendar
      quarters in which the Company pays regular annual bonuses to eligible
      employees, the maximum aggregate number of Shares which may be purchased
      upon the exercise of Rights shall be One Million Six Hundred Thousand
      (1,600,000) Shares. If the aggregate purchases of Shares upon
      exercises of Rights granted under the Plan would exceed the applicable
      maximum number for a particular calendar quarter, the maximum permitted
      number of Shares shall be allocated to the exercising participants in
      proportion to the number of Shares they would otherwise purchase during
      such calendar quarter.

            

    

     

    10.
Employee’s Rights as Stockholder

     

    No
participating employee shall have any Rights as a stockholder in the Shares
covered by a Right granted hereunder until such Right has been exercised, full
payment has been made for the corresponding Shares and the purchase has been
entered in the records of the Transfer Agent for the Shares.

     

    11.
Rights Not Transferable

     

    Rights
under the Plan are not assignable or transferable by a participating
employee.

     

    12.
Amendments or Discontinuance of the Plan

     

    The
Board of Directors of the Company shall have the right to amend, modify or
terminate the Plan at any time without notice; provided, however, that the then
existing Rights of all participating employees shall not be adversely affected
thereby, except that in the case of a participating employee of a foreign branch
of the Company or a designated U.S. subsidiary corporation the Plan may be
varied to conform with local laws, and provided further that, subject to the
provisions of Section 7 above, no such amendment to the Plan shall, without
the approval of the stockholders of the Company:

     

    
      	 
      	
              (a)

            	
              Increase
      the total number of Shares which may be offered under the
      Plan;

            

    

     

    
      	 
      	
              (b)

            	
              Amend
      the Plan in any manner which would render Rights granted hereunder
      unqualified for special tax treatment under Section 421 of the
      Code.

            

    

     

    13.
Effective Date and Approvals

     

    The
Plan shall become effective as of January 1, 1991. The Company’s obligation
to offer, sell or deliver its Shares under the Plan is subject to the approval
of the Company’s stockholders and any governmental approval required in
connection with the authorized issuance or sale of such Shares and is further
subject to the determination by the Company that all applicable securities laws
have been complied with.

     

    14.
Administration of the Plan

     

    The
Board of Directors or any committee or person(s) to whom it delegates its
authority (the “Administrator”) shall administer, interpret and apply all
provisions of the Plan. The Administrator may waive such provisions of the Plan
as it deems necessary to meet special circumstances not anticipated or covered
expressly by the Plan. Nothing contained in this Section shall be deemed to
authorize the Administrator to alter or administer the provisions of the Plan in
a manner inconsistent with the provisions of Section 423 of the
Code.ex10_2.htm

     

    
      
        

      

      EXHIBIT
10.2

      

      

      SECOND
AMENDMENT TO MASTER LEASE AGREEMENT

      

      THIS SECOND AMENDMENT TO MASTER LEASE
AGREEMENT (“Second
Amendment”) is
entered into as of April 8, 2008 between HCP SSF, LLC (formerly known as SLOUGH
SSF, LLC), a Delaware limited liability company (“Landlord”), and GENENTECH, INC., a
Delaware corporation (“Tenant”), with reference to the
following facts:

      

      A. Landlord
and Tenant are parties to a Master Lease Agreement dated as of November 1,
2004 (the "Master
Lease Agreement"), as amended by a First
Amendment dated as of October 2, 2006 (the "First
Amendment")
(collectively, the “Agreement”) which provides for, among
other things, the construction of eight office and/or research and development
buildings at the Britannia East Grand Business Park (the “Center”), a stand-alone child care
center in the northwestern corner of the Center (the “Child
Care Center”),
and two parking structures.  Terms used as defined terms in this
Second Amendment but not expressly defined herein shall have the meanings
assigned to such terms in the Agreement.

      

      B. As
a result of certain elections made by Tenant under the Agreement, Tenant has
become responsible for complying with the requirements under the Development
Agreement to which the Center is subject (as amended from time to time, the
“Development
Agreement”)
relating to the construction of the Child Care Center.  In connection
therewith, Tenant has requested that Landlord cooperate with Tenant in seeking
the City of South San Francisco's ("City's") approval to defer the
requirement that the Child Care Center be constructed at the Center, and
Landlord is willing to do so, all as more particularly set forth in this Second
Amendment.

      NOW,
THEREFORE, in consideration of the mutual obligations set forth herein and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Landlord and Tenant agree as follows:

      

      1.           Child Care
Center.  Landlord agrees to fully cooperate with Tenant in
seeking the City's approval to allow Tenant, at its election, to defer the
requirement that the Child Care Center be constructed at the
Center.  Such cooperation shall be at no cost or expense to Landlord;
however, Landlord shall not accept conditions of approval of such deferral
without Tenant’s prior approval.  Landlord and Tenant shall each
include the other (or at least offer the other a reasonable opportunity to
participate) in any discussions and hearings with the City regarding such
deferral.  In the event that the City approves such deferral, so long
as such deferral shall remain in effect, Tenant’s obligation to construct the
Child Care Center in compliance with the requirements of the Development
Agreement shall likewise be deferred by Landlord.  If the City fails
or refuses to grant such deferral, or if the City defers such requirement and
such deferral shall thereafter cease during the term of the Agreement for any
reason (including, but not limited to, any such cessation by reason of the
expiration or termination of Tenant’s occupancy of one or more Buildings in the
Center, for which purpose Tenant’s obligations under this Paragraph 1 shall
survive any termination of the Agreement), or if Tenant otherwise elects
(notwithstanding such deferral) to proceed with constructing the Child Care
Center, then Tenant at Tenant’s sole expense shall either fulfill the City's
requirements (as set forth in the Development Agreement)

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      for
construction of a Child Care Center or secure the City's approval of an
alternative method of satisfying the requirement that the Child Care Center be
located at the Center.  If the City grants the deferral, Tenant may
elect to use the land designated for the Child Care Center for any purpose which
is compatible with the other uses within the Center, such as, without
limitation, landscaping, recreational fields, or other soft feature
improvements, or may elect not to use the land (in which event Tenant shall
still be responsible for the cost of providing, at a minimum, landscaping
meeting the City’s minimum requirements for otherwise unused land within the
Center).  Provided that Tenant has obtained all required City approvals
(including, with Landlord’s reasonable cooperation at no expense to Landlord,
any required amendment of the Development Agreement), Tenant may, at its sole
discretion from time to time, elect to improve or modify the land designated for
the Child Care Center with such uses, in which case, subject to the proviso set
forth below, Landlord shall install such improvements at Tenant's cost and as
directed by Tenant, in accordance with plans prepared by or at the direction of
Tenant and mutually approved by Landlord and Tenant (such approval not to be
unreasonably withheld, delayed or conditioned); provided, however, that if
Tenant elects in accordance with the provisions of this paragraph to construct
and use a building on the land designated for the Child Care Center during the
term of the Agreement (which building shall then be leased to Tenant under the
Vacant Land/Child Care Center Lease as contemplated in the Agreement) or to
construct other recreational or soft-feature improvements, then Landlord’s
construction obligations under this Paragraph shall be limited to constructing
(at Tenant’s expense) the underground and in-ground improvements necessary to
support Tenant's construction of such building or soft-feature improvements, and
Tenant shall be responsible for constructing the above-ground elements of such
building or soft-feature improvements in accordance with the terms of the
Agreement.  For clarity, nothing herein shall preclude Tenant from
exercising its rights under Section 4(c) of the Master Lease Agreement to seek
the City's approval of an alternative method of satisfying the City's
requirement for a Child Care Center, at no cost or expense to
Landlord.

      

      2.           Brokers.  Each
party represents and warrants that no broker represented such party or otherwise
participated in the negotiation or consummation of this Second Amendment, and
each party agrees to indemnify, defend and hold the other party harmless against
any liability, cost or expense, including, without limitation, reasonable
attorneys’ fees, arising out of any claims for brokerage commissions or other
similar compensation in connection with any conversations, prior negotiations or
other dealings by the indemnifying party with any broker.

      

      3.           Notice.  Any
notice or communication required or permitted under the Agreement shall be given
in writing, sent by (a) personal delivery, or (b) expedited delivery service
with proof of delivery, or (c) United States mail, postage prepaid, certified
mail, return receipt requested, or (d) facsimile, addressed as
follows:

      

      

      To
Landlord:        HCP SSF,
LLC

      c/o
HCP Life Science Estates

      400
Oyster Point Blvd., Suite 409

      South
San Francisco, CA  94080

      Attn:  Jon
Bergschneider

      Fax:  (650)
875-1003

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

      with
a copy to:     HCP SSF, LLC

      c/o
HCP, Inc.

      3760
Kilroy Airport Way, Suite 300

      Long
Beach, CA  90806-2473

      Attn:  Legal
Department

      Fax:  (562)
733-5200

      

      and
a copy to:      Folger Levin & Kahn
LLP

      Embarcadero
Center West

      275
Battery Street, 23rd Floor

      San
Francisco, CA  94111

      Attn:  Donald
E. Kelley, Jr.

      Fax:  (415)
986-2827

      

      To
Tenant:           Corporate
Secretary

      Genentech,
Inc.

      1
DNA Way, Mail Stop 49

      South
San Francisco, CA  94080

      Fax:  (650)
467-9146

      

      with
a copy to:     Corporate Real Estate

      Genentech,
Inc.

      1
DNA Way, Mail Stop 256A

      South
San Francisco, CA  94080

      Fax:  (650)
467-3412

      

      

      and
a copy to:      Meg Fitzgerald, Esq.

      Genentech,
Inc. Legal Department

      1
DNA Way, Mail Stop 49

      South
San Francisco, CA  94080

      Fax:  (650)
952-9881

      

      or
to such other address or to the attention of such other person as hereafter
shall be designated in writing by the applicable party sent in accordance
herewith.  Any such notice or communication shall be deemed to have
been given and received either at the time of personal delivery or, in the case
of delivery service or mail, as of the date of first attempted delivery at the
address and in the manner provided herein, or in the case of facsimile, upon
mechanical confirmation of transmission during normal business hours at the
place of receipt (or in the case of transmission outside normal business hours,
at the commencement of the next business day commencing after the time of such
transmission).

      

      4.           Entire Agreement;
Modification.  This Second Amendment constitutes the entire
agreement between the parties relating to the subject matter
hereof.  This Second Amendment may not be modified orally or in any
manner other than by an agreement in writing signed by the parties hereto or
their respective successors in interest.  Except as modified by the
terms of this Second Amendment, the obligations of the parties under, and the
provisions of, the Agreement, shall remain unchanged, in full force and effect,
and enforceable in accordance with its terms.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      

      5.           Counterparts.  This
Second Amendment may be executed in multiple counterparts, and by the respective
parties hereto in separate counterparts, each of which when so executed and
delivered shall be deemed to be one and the same instrument with the same
signatures as if all parties to this Second Amendment had signed the same
signature page.  Signature pages may be detached from separate
counterparts and attached to a single copy of this Second Amendment to form one
original document (or multiple original counterparts of this document with full
signatures).

       

      [rest
of page intentionally left blank]

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      

      IN WITNESS WHEREOF, the parties hereto
have executed this Second Amendment as of the date first set forth
above.

       

      
        	
                “Landlord”

                 

                HCP
      SSF, LLC (formerly known as Slough

                SSF,
      LLC), a Delaware limited liability

                company

                 

                By:     HCP
      Estates USA Inc., a Delaware

                         
       corporation, Its Manager

                 

                 

                 

                   
      By:         /s/ JONATHAN M.
      BERGSCHNEIDER

                   
      Name:    Jonathan M. Bergschneider

                   
      Its:         Senior Vice
      President

                 

              	
                “Tenant”

                 

                GENENTECH,
      INC.,

                a
      Delaware corporation

                 

                 

                 

                By:         
      /s/ THOMAS G. LYON

                Name:   
      Thomas G. Lyon

                Its:         
      VP – Business Services

                 

                 

              

      

       

      
        
           

        

        
          5

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