Document:

Consulting and Severance Agreement

 EXHIBIT 10.1 
  
 SEATTLE GENETICS, INC. 
  
 CONSULTING AND SEVERANCE AGREEMENT 
  
 This Consulting and Severance Agreement (the “Agreement”) is entered into as of August 22, 2005 (the “Effective Date”)
by and between Seattle Genetics, Inc. (the “Company”) and Tim J. Carroll (“Consultant”). 
  
 WHEREAS, Consultant has been employed as the Company’s Chief Financial Officer; 
  
 WHEREAS, the Company and Consultant have mutually agreed to terminate Consultant’s employment relationship and to begin
a consulting relationship on the terms set forth below; 
  
 NOW,
THEREFORE, in consideration of the mutual promises made herein, the receipt and sufficiency of which are hereby acknowledged, the Company and Consultant hereby agree as follows: 
  
 1. Termination of Employment and Consulting Relationship. The effective date of the termination of
Consultant’s employment with the Company shall be October 3, 2005 (the “Termination Date”). Consultant shall, until otherwise directed by the Company, continue to perform all of his regular job duties and responsibilities for
the Company through the Termination Date and continue to comply with all Company policies and procedures. The Company shall pay to Consultant all salary, wages, accrued and unused vacation through the Termination Date and any and all other benefits
due to Consultant with respect to his employment, except bonus payments to Consultant which are provided for in Section 2 below. Beginning October 4, 2005, in consideration for the release of claims set forth in Section 4 below and other obligations
and benefits under this Agreement, Consultant will provide consulting services (the “Services”) at a full-time capacity for three (3) months through January 3, 2006 and then at half-time capacity for one (1) month from January 4,
2006 through February 3, 2006 as set forth in Section 3 of this Agreement. 
  
 2. Consideration. In consideration for the release of claims set forth in Section 4 below and other obligations under this Agreement, including the provision of the Services during the periods set forth
above, and provided that Consultant does not revoke his execution of this Agreement during the Revocation Period described in Section 5 below, the Company agrees to provide to Consultant the following benefits following the Termination Date: (a) the
Company will enter into a consulting arrangement with Consultant under the terms and conditions set forth in Section 3 below; (b) continued health insurance benefits (through COBRA) from the Termination Date through May 30, 2006; and (c) the bonus
normally payable to Consultant as if Consultant worked full-time during 2005, using an earned rate of one hundred percent (100%) at the thirty percent (30%) threshold for the Chief Financial Officer position with such bonus paid at the same time as
the Company pays bonuses to the other executives in the Company. 
  
 3. Consulting Arrangement. 
  
 (a)
Fees and Options. As consideration for the Services to be provided by Consultant and other obligations, the Company will compensate Consultant at the rate of $19,066.68 per month during the three (3) month period that Services are
provided on a full-time basis from October 4, 2005 through January 3, 2006, and at the rate of $9,533.34 per month during the one (1) month period that Services are provided on a half-time basis from January 4, 2006 through February 3, 2006. In
addition, Consultant’s options for the Company’s common stock outstanding at the date of this Agreement shall continue to vest during Consultant’s performance of Services in accordance with the terms of the Company’s 1998 Stock
Option Plan and Consultant’s stock option agreements.  

 (b) Expenses. Effective as of October 3, 2005, Consultant shall not be authorized to incur
on behalf of the Company any expenses exceeding $1,500.00 without the prior written consent of the Company’s President and Chief Executive Officer. As a condition to receipt of reimbursement, Consultant shall be required to submit to the
Company reasonable evidence that the amount involved was expended and related to Services provided under this Agreement. 
  
 (c) Term. Consultant shall serve as a consultant to the Company on an “at will” basis from October 4, 2005 through February 3,
2006. 
  
 (d) Independent Contractor.
Consultant’s relationship with the Company beginning October 4, 2005 will be that of an independent contractor and not that of an employee. Consultant will not be eligible for any employee benefits except as set forth in this Agreement, nor
will the Company make deductions for taxes from consulting fee payments made to Consultant pursuant to this Section 3, which will be Consultant’s responsibility. Consultant agrees to indemnify and hold the Company harmless from any liability
for, or assessment of, any such taxes imposed on the Company by relevant taxing authorities. Consultant will have no authority to enter into contracts that bind the Company or create obligations on the part of the Company without the prior written
authorization of the Company. 
  
 (e) Supervision of
Consultant’s Services. All services to be performed by Consultant, including but not limited to the Services, will be as agreed between Consultant and the Company’s President and Chief Executive Officer. Consultant shall use
Consultant’s best efforts to perform the Services in a manner satisfactory to the Company. 
  
 (f) Conflicts with this Agreement. Consultant represents and warrants that he is not under any pre-existing obligation in conflict or in any
way inconsistent with the provisions of this Agreement. Consultant warrants that Consultant has the right to disclose or use all ideas, processes, techniques and other information, if any, which Consultant has gained from third parties, and which
Consultant discloses to the Company in the course of performance of this Agreement, without liability to such third parties. Consultant represents and warrants that Consultant has not granted any rights or licenses to any intellectual property or
technology that would conflict with Consultant’s obligations under this Agreement. Consultant will not knowingly infringe upon any copyright, patent, trade secret or other property right of any former client, employer or third party in the
performance of the services required by this Agreement. 
  
 4.
Release of Claims. In exchange for the consideration provided under this Agreement, Consultant and his successors and assigns hereby fully and forever release and discharge the Company, any of its subsidiaries or related companies, any
Company-sponsored employee benefit plan in which Consultant participates and any of their officers, directors, trustees, stockholders, agents, employees, investors, stockholders, administrators, and their successors and assigns from any claim, duty,
obligation or cause of action relating to any matters of any kind, whether known or unknown, suspected or unsuspected, that Consultant may possess arising from any omissions, acts or facts that have occurred up until and including the date of this
Agreement, including, without limitation: 
  
 (a) any and all
claims relating to or arising from Consultant’s employment relationship with the Company and termination of that relationship; 
  
 (b) any and all claims relating to, or arising from, Consultant’s right to purchase, or actual purchase of shares of stock of the Company;

  
 (c) any and all claims for personal injury, wrongful discharge
of employment, breach of contract (both express and implied), breach of a covenant of good faith and fair dealing (both express and implied), negligent or intentional infliction of emotional distress, negligent or intentional misrepresentation,
negligent or intentional interference with contract or prospective economic advantage and defamation; 
  

 -2- 

 (d) any and all claims for violation of any federal, state or local statute, including, but not limited
to the Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Older Workers’ Benefits Protection Act, the Employee Retirement Income Security Act, the Workers Retraining and Notification Act, and the Rev. Code
of Washington Sections 49.45.010 et. seq. and 49.60.010 et. seq.; 
  
 (e) any and all claims arising out of any other state, federal or local laws and regulations relating to employment or employment discrimination; and 
  

(f) any and all claims for attorney’s fees and costs. 
  
 Excepted from the above release are Consultant’s rights of indemnity under applicable law, the Indemnification Agreement described in Section 7
below, and/or the bylaws or certificate of incorporation of the Company as a former officer of the Company. Consultant and the Company agree that the release set forth in this Section 4 shall be and shall remain in effect as a complete general
release as to the matters released. This release does not extend to any obligations incurred under this Agreement or to any rights or claims that may arise after the Effective Date. 
  
 5. Acknowledgement of Waiver of Claims under ADEA. Consultant acknowledges that he is waiving and releasing
any rights he may have under the Age Discrimination in Employment Act of 1967 (“ADEA”) and that this waiver and release is knowing and voluntary. Consultant and the Company agree that this waiver and release does not apply to any
rights or claims that may arise under the ADEA after the Effective Date. Consultant acknowledges that the consideration given for this Agreement is in addition to anything of value to which Consultant was already entitled. Consultant further
acknowledges that he has been advised by this writing that: (a) he should consult with an attorney prior to executing this Agreement; (b) he has twenty-one (21) days in which to consider this Agreement; (c) he has seven (7) days following
executing this Agreement to revoke this Agreement (the “Revocation Period”); and (d) this Agreement shall not be effective until the Revocation Period has expired. Any revocation should be in writing and delivered to Kirsten Smith
at the Company by close of business on the seventh (7th) day from the date that Consultant signs this Agreement.
Unless revoked in accordance with this Section 5, the Agreement will become final and irrevocable on the eighth (8th) day following execution of this Agreement. 
  
 6. Confidentiality Agreement. Consultant represents and warrants that he has not breached his obligations to the Company under the terms of the Proprietary Information and Inventions Agreement previously entered into between
Consultant and the Company (the “Proprietary Agreement”). Consultant shall continue to maintain the confidentiality of all confidential and proprietary information of the Company as provided by the Proprietary Agreement, which
agreement shall remain in effect pursuant to its terms. 
  
 7.
Indemnification Agreement. The Indemnification Agreement by and between the Company and Consultant dated January 2001 and attached hereto as Exhibit A shall remain in effect following the date of this Agreement in accordance
with the terms of such Indemnification Agreement. The Company will provide Consultant indemnification pursuant to the Indemnification Agreement and the Company’s certificate of incorporation and bylaws, to the fullest extent authorized or
permitted by law. The Company further agrees that with respect to the period of time in which Consultant was an officer of the Company, Consultant shall continue to be covered by any director and officer insurance policies that the Company may have
in place from time to time in accordance with Section 7 of the Indemnification Agreement. 
  

 -3- 

 8. Miscellaneous. 
  
 (a) Amendments and Waivers. Any term of this Agreement may be amended or waived only with the written consent
of the parties. 
  
 (b) Sole Agreement. This
Agreement constitutes the sole agreement of the parties and supersedes all oral negotiations and prior writings with respect to the subject matter hereof, but excluding any existing stock option agreements, the Proprietary Agreement and the
Indemnification Agreement. 
  
 (c) Notices. Any
notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon receipt, when delivered personally or by courier, overnight delivery service or confirmed facsimile, or forty-eight (48) hours after being
deposited in the regular mail as certified or registered mail (airmail if sent internationally) with postage prepaid, if such notice is addressed to the party to be notified at such party’s address or facsimile number as set forth below, or as
subsequently modified by written notice. 
  
 (d)
Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Washington, without giving effect to the principles of conflict of laws. 
  
 (e) Severability. In the event that any provision hereof
becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, said provision may be modified by the court to the extent necessary to render it enforceable and the remainder of this Agreement shall continue in full
force and effect. 
  
 (f) Effective Date. This
Agreement is effective after it has been signed by both parties and when eight (8) days have passed since Consultant has signed the Agreement, unless revoked by Consultant within seven (7) days after the date the Agreement was signed by Consultant.

  
 (g) Counterparts. This Agreement may be executed
in counterparts, and each counterpart shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. 
  
 (h) Press Release. Company will coordinate with Consultant regarding the press release and related regulatory
filings announcing Consultant’s Termination Date and transition and Consultant shall approve of any such press release or publication; provided, that, Consultant may not unreasonably withhold such approval or prevent Company from satisfying any
regulatory or legal obligations. 
  
 (h) Voluntary Execution
of Agreement. This Agreement is executed voluntarily and without any duress or undue influence on the part or behalf of the parties hereto. The parties acknowledge that: 
  
 They have read this Agreement; 
  
 They have been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of their own choice or that they have
voluntarily declined to seek such counsel; 
  
 They understand the
terms and consequences of this Agreement and of the releases it contains, and 
  
 They are fully aware of the legal and binding effect of this Agreement. 
  

 -4- 

 Consultant acknowledges and agrees that he has been given at least twenty-one (21) days to decide whether
to sign this Agreement, and has signed it only after full reflection and analysis. Consultant further acknowledges that Consultant has been encouraged to obtain an attorney’s independent counsel and advice, and that Consultant has read and
understands the complete Agreement. By signing this Agreement prior to the expiration of the twenty-one (21) day period set forth in Section 5 herein, Consultant acknowledges and agrees that he had adequate time and opportunity to fully consider his
rights and this release of them. 
  
 (i) Continuing
Representations. Consultant expressly acknowledges and agrees that, if requested to do so by the Company, he will sign a Continuing Representations Certificate, in the form provided by the Company, on the Termination Date, reaffirming each
of the waivers, releases, warranties and representations contained in this Agreement as of such date and that Consultant’s rights continue to be as defined by the terms of this Agreement as of such date. 
  
 [Signature Page Follows] 
  

 -5- 

 The parties have executed this Agreement on the respective dates set forth below. 
  

			
	COMPANY:
	
	SEATTLE GENETICS, INC.
		
	By:	 	 /s/ Clay B. Siegall

	Its:	 	President and CEO
		
	Address:	 	21823 30th Drive SE
	 	 	Bothell, WA 98021
		
	Date:	 	August 22, 2005
	
	CONSULTANT:
	
	Tim J. Carroll
	
	 /s/ Tim J. Carroll

	Signature
		
	Address:	 	21823 30th Drive SE
	 	 	Bothell, WA 98021
		
	Date:	 	August 22, 2005Form of Stock Unit Agreement under the 2003 Incentive Compensation Plan

 Exhibit 10.1 
  
 SAVVIS, INC. 2003 INCENTIVE COMPENSATION PLAN 
 STOCK UNIT AGREEMENT 
  
 SAVVIS, Inc., a Delaware corporation (the “Company”), hereby grants stock units relating to shares of its common stock, $.01 par value (the “Stock”), to the individual named below as the Grantee.
The terms and conditions of the grant are set forth in this Agreement and in the SAVVIS, Inc. 2003 Incentive Compensation Plan (the “Plan”). 
  
 Grant Date:                     ,
20     
  
 Name of Grantee:
                                        

  
 Grantee’s Social Security Number:
            -            -            

  
 Number of Stock Units Covered by Grant:
                     (“Total Stock Units”) 
  

By signing this cover sheet, you agree to all of the terms and conditions described in this Agreement and in the Plan, a copy of which is being
provided with this Agreement. You acknowledge that you have carefully reviewed the Plan and agree that the Plan will control in the event any provision of this Agreement should appear to be inconsistent with the terms of the Plan.

  

					
	Grantee:	 	  

	 	 	(Signature)
		
	Company:	 	  

	 	 	(Signature)
			
	 	 	Title:	 	  

  
 Attachment 
  
 This is not a stock certificate or a negotiable instrument. 

 
 Form Restricted Stock Unit Agreement 

 SAVVIS, INC. 
 2003 INCENTIVE COMPENSATION PLAN 
  
 STOCK UNIT AGREEMENT 
  

			
	Stock Unit Transferability	  	This grant is an award of stock units in the number of units set forth on the cover sheet, subject to the vesting conditions described below (“Stock Units”). Your Stock Units may
not be transferred, assigned, pledged or hypothecated, whether by operation of law or otherwise, nor may the Stock Units be made subject to execution, attachment or similar process.
		
	Definitions	  	“Change in Control” and “Involuntary Termination” shall have the meaning assigned to such terms in Exhibit A to this Stock Unit Agreement. The total number of Stock
Units under this Stock Unit grant (as shown on the cover sheet) is referred to as your “Total Stock Units.”
		
	Vesting	  	 Your Stock Units shall vest on the earlier to occur of the following:
  
 [Insert Vesting Schedule]
  
 You cannot under any circumstance vest in more than 100% of the Total Stock Units.

		
	 Delivery of Stock
 Pursuant to Units
	  	 A certificate for 100% of the shares of Stock represented by your Stock Unit Agreement shall be delivered to you, or to your eligible beneficiary
or your estate, on [Insert Delivery Schedule].
  
 Notwithstanding the
preceding paragraph:
  
 •      If you are a “key employee” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and shares would otherwise be delivered to you on
account of your separation from Service, then such shares shall not be delivered to you until six months after your separation from Service to the extent such delayed delivery is required by Section 409A; and

  

 2 

			
	 	  	 •      If shares relating to the vested Stock Units would otherwise be delivered to you during a period
in which you are: (i) subject to a lock-up agreement restricting your ability to sell shares of Stock in the open market or (ii) restricted from selling shares of Stock in the open market because you are not then eligible to sell under the
Company’s insider trading or similar plan as then in effect (whether because a trading window is not open or you are otherwise restricted from trading), then delivery of the shares related to the vested Stock Units will be delayed until the
first date on which you are no longer prohibited from selling shares of Stock due to a lock-up agreement or insider trading or similar plan restriction, but in any event no later than the end of the calendar year in which the shares would otherwise
have been delivered without regard to this paragraph. Delivery of shares subject to vested Stock Units shall not be delayed pursuant to this paragraph if you have entered into a binding contract requiring the sale of the shares underlying the vested
Stock Units required to cover applicable withholding taxes, consistent with the affirmative defense to liability under Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) contemplated by Rule 10b5-1 under the Exchange
Act.

		
	Withholding Taxes	  	You agree, as a condition of this grant, that you will make acceptable arrangements to pay any withholding or other taxes that may be due as a result of vesting in Stock Units or your
acquisition of Stock under this grant. In the event that the Company determines that any federal, state, local or foreign tax or withholding payment is required relating to this grant, the Company will have the right to: (i) require that you arrange
such payments to the Company if the Company has paid such tax, (ii) withhold such amounts from other payments due to you from the Company or any Affiliate, or (iii) cause an immediate forfeiture of shares of Stock subject to the Stock Units granted
pursuant to this Agreement in an amount equal to the withholding or other taxes due.

  

 3 

			
	Retention Rights	  	This Agreement does not give you the right to be retained or employed by the Company or any Affiliates in any capacity.
		
	Shareholder Rights	  	You do not have any of the rights of a shareholder with respect to the Stock Units unless and until the Stock relating to the Stock Units has been delivered to you. You will, however, be
entitled to receive, upon the Company’s payment of a cash dividend on outstanding Stock, a cash payment for each Stock Unit that you hold as of the record date for such dividend equal to the per-share dividend paid on the
Stock.
		
	Adjustments	  	In the event of any recapitalization, stock split, reverse split, combination of shares, exchange of shares, stock dividend or a similar change in the Company stock, the number of Stock Units
covered by this grant will be adjusted (and rounded down to the nearest whole number) by the Board in accordance with the terms of the Plan. In addition, in the event of a Corporate Transaction in which the Company is not the surviving entity, any
Stock Units covered by this grant shall be substituted for new restricted stock units relating to the stock of a successor entity, or a parent or subsidiary thereof, with appropriate adjustments to the number of shares in order to preserve, or to
prevent the enlargement of, the benefits intended to be made available under this Agreement.
		
	Applicable Law	  	This Agreement will be interpreted and enforced under the laws of the State of Delaware, other than any conflicts or choice of law rule or principle that might otherwise refer construction or
interpretation of this Agreement to the substantive law of another jurisdiction.
		
	Consent to Electronic Delivery	  	The Company may choose to deliver certain statutory materials relating to the Plan in electronic form. By accepting this grant you agree that the Company may deliver the Plan prospectus and
the Company’s annual report to you in an electronic format. If at any time you would prefer to receive paper copies of these documents, as you are entitled to receive, the Company would be pleased to provide copies. Please

  

 4 

			
	 	  	contact the Plan Administrator in the Company’s Legal Department to request paper copies of these documents.
		
	Amendments	  	No amendment to this Stock Unit Agreement may impair your rights under this Stock Unit Agreement without your consent.
		
	The Plan	  	The text of the Plan is incorporated in this Agreement by reference. This Agreement and the Plan constitute the entire understanding between you and the Company regarding this grant of Stock
Units. Any prior agreements, commitments or negotiations concerning this grant are superseded. The Plan will control in the event any provision of this Agreement should appear to be inconsistent with the terms of the Plan.

  
 By signing the
cover sheet of this Agreement, you agree to all of the terms and conditions described above and in the Plan. 
  

 5 

 Exhibit A 
  
 1. For the purpose of this Stock Unit Agreement, “Change in Control” means the occurrence of any of the following events after the
date of this Agreement: 
  
 (A) any Person (as defined herein)
becomes the beneficial owner directly or indirectly (within the meaning of Rule 13d-3 under the Act) of 50% or more of the Company’s then outstanding voting securities (measured on the basis of voting power); or 
  
 (B) the consummation of an agreement of merger or consolidation with any
other corporation or business entity, other than (x) a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity), in combination with the ownership of any trustee or other fiduciary holding securities under an employee benefit plan of the Company, at least 50% of the combined voting power of the voting
securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or (y) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person
acquires more than 50% of the combined voting power of the Company’s then outstanding securities; or 
  
 (C) the liquidation or dissolution of the Company or consummation of a sale or disposition by the Company of all or substantially all of the
Company’s assets. 
  
 For purposes of this definition, “Person”
means any individual, entity or group within the meaning of Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof; however, a Person shall not include (aa) the Company, (bb) Welsh, Carson, Anderson & Stowe
VIII, L.P. and its Affiliates, (cc) One Equity Partners LLC and its Affiliates, (dd) Constellation Ventures Management II, LLC and its Affiliates, (ee) Oak Hill Special Opportunities Fund, L.P. and its Affiliates, (ff) a trustee or other fiduciary
holding securities under an employee benefit plan of the Company, (gg) an underwriter temporarily holding securities pursuant to an offering of such securities, (hh) a corporation owned, directly or indirectly, by the shareholders of the Company in
substantially the same proportions as their ownership of Stock, or (ii) any person or entity or group acquiring securities of the Company pursuant to an issuance of securities approved by the Board. 
  
 2. For the purpose of this Stock Unit Agreement, “Involuntary Termination” means
the termination of your Service by reason of: (A) your involuntary discharge by the Company for a reason other than for Cause; or (B) your voluntary resignation after any of the following events that are not cured by the Company within ten (10)

 days after you give written notice to the Company of the occurrence of such event: (aa) a reduction in either your job
title or responsibilities, compensation, perquisites, target bonus or equity incentive opportunities, (bb) a breach by the Company of a written agreement governing your employment, including any failure to pay salary or bonus when due; or (cc) the
Company notifying you of the relocation of your position more than 50 miles from the metropolitan area in which you were located at the time of the Change in Control; provided and only if such change, reduction or relocation is effected by the
Company without your consent.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}]]