Document:

Form of Bonus Agreement

 Exhibit 10.3 
 [FORM OF] 
 BONUS AGREEMENT 

This BONUS AGREEMENT (this “Agreement”) is entered into as of this [    ] day of
[                    ], 20    , by and between
[                    ], a
[                    ] (the “Company”) and
[                    ] (“Employee”), on the following terms and conditions: 

 

	1.	The Company shall pay Employee a cash bonus (payable over time as set forth herein) (the “Bonus”) in an aggregate amount up to
$                . Employee agrees and acknowledges that Employee will not be entitled to receive the Bonus (or such portion of the Bonus which has
not been paid) if Employee (i) for whatever reason is no longer an employee of the Company or its subsidiaries or (ii) breaches or violates any of the terms or provisions of this Agreement, or any grant agreement whereby the Company or any
of its affiliates granted (or in the future grants) options or other securities to Employee, which such breach or violation, if capable of being cured in accordance with the terms of this Agreement or any other grant agreement, is not cured within
the applicable cure period set forth in the Agreement or other grant agreement; provided, that, Employee shall be eligible to receive the portion of the Bonus described in Section 2(f) following Employee’s death, Disability (as defined
below) or involuntary termination of employment without Cause (as defined below). 

  

	2.	The Bonus shall be payable, subject to the terms hereof, as follows: 

 

	 	(a)	Within ten (10) days after the date hereof, the Company shall pay Employee
$                    . 

  

	 	(b)	Within ten (10) days after [                ],
20    , the Company shall pay Employee $                    . 

 

	 	(c)	Within ten (10) days after [                ],
20    , the Company shall pay Employee $                    . 

 

	 	(d)	If Employee is an employee of the Company or its subsidiaries on the date immediately preceding a Change in Control, as soon as practicable after the occurrence of a
Change in Control (as defined below), but in no event later than 30 days following a Change in Control, the Company shall pay Employee (regardless of whether he is then employed by the Company or its subsidiaries on the payment date) any unpaid
portion of the Bonus set forth in Sections 2(a), 2(b) and 2(c). 

  

	 	(e)	If Employee is an employee of the Company or its subsidiaries on the date immediately preceding a Change in Control, in addition to any amounts payable to Employee
pursuant to Section 2(d) above, as soon as practicable after the occurrence of a Change in Control, but in no event later than 30 days following the Change in Control, the Company shall pay Employee (regardless of whether he is then employed by
the Company or its subsidiaries on the payment date) an amount equal to the sum of: 

  

	 	(i)	(A) $                , less (B) the amount, if any, by which
$                     is greater than the product of (x) the fair market value of a share of the Company’s common
stock (the “Company Common Stock”) on the date of the Change in Control as determined in accordance with Section 21(h) of the Company’s 2005 Stock Option Plan, multiplied by
(y) [    ]; 

	 	(ii)	(A) $                    , less (B) the
amount, if any, by which $                     is greater than the product of (x) the fair market value of a share of
Company Common Stock on the date of the Change in Control as determined in accordance with Section 21(h) of the Company’s 2005 Stock Option Plan, multiplied by (y) [__] and 

 

	 	(iii)	(A) $                    , less (B) the
amount, if any, by which $                     is greater than the product of (x) the fair market value of a share of
Company Common Stock on the date of the Change in Control as determined in accordance with Section 21(h) of the Company’s 2005 Stock Option Plan, multiplied by (y) [__]; and 

 

	 	(iv)	(A) $                    , less (B) the
amount, if any, by which $                     is greater than the product of (x) the fair market value of a share of
Company Common Stock on the date of the Change in Control as determined in accordance with Section 21(h) of the Company’s 2005 Stock Option Plan, multiplied by (y) [__]. 

For the avoidance of doubt, Employee shall not be entitled to any amounts pursuant to this Section 2(e) if Employee receives amounts
pursuant to Section 2(f). 
  

	 	(f)	In addition to any amounts payable to Employee pursuant to Section 2(d) above and if a Change in Control has not yet occurred: 

 

	 	(i)	Upon the earlier of Employee’s involuntary termination of employment without Cause, death or Disability (each, a “Payment Event”), or
[                    ] (the date the option granted to Employee on
[                    ] (“Option Grant 1”) expires (the “Option Grant 1 Expiration Date”)) [Insert the
original grant date of Option Grant 1 and the expiration date of such option.], concurrent with and subject to Employee’s exercise of the entire vested portion of Option Grant 1, the Company shall pay Employee an amount equal to
(A) $                    , less (B) the amount, if any, by which
$                     is greater than the product of (x) the fair market value of a share of Company Common Stock on the
Option Grant 1 Expiration Date or the Payment Event, as applicable, as determined in accordance with Section 21(h) of the Company’s 2005 Stock Option Plan, multiplied by (y) [__], and, in the case of a Payment Event that
occurs before an Employee is fully vested in the Shares subject to Option Grant 1, multiplied by (C) a percentage equal to the vested percentage of Option Grant 1 as of the Payment Event. 

 

	 	(ii)	 Upon the earlier of a Payment Event ,or
[                    ] (the date the option granted to Employee on
[                    ] (“Option Grant 2”) expires (the “Option Grant 2 Expiration Date”)) [Insert the
original grant date of Option Grant 2 and the expiration date of such option.], concurrent with and subject to Employee’s exercise of the entire vested portion of Option Grant 2, the Company shall pay Employee an amount equal to
(A) $                    , less (B) the amount, if any, by which
$                     is greater than the product of (x) the fair market value of a share of Company Common Stock on the
Option Grant 2 Expiration Date or the Payment Event, as applicable, as determined in accordance with Section 21(h) of the Company’s 2005 Stock Option Plan, multiplied by (y) [    ],

  
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and, in the case of a Payment Event that occurs before an Employee is fully vested in the Shares subject to Option Grant 2, multiplied by (C) a percentage equal to the vested
percentage of Option Grant 2 as of the Payment Event. 

  

	 	(iii)	Upon the earlier of Employee’s involuntary termination of employment without Cause, death or Disability (each, a “Payment Event”), or
[                    ] (the date the option granted to Employee on
[                    ] (“Option Grant 3”) expires (the “Option Grant 3 Expiration Date”)) [Insert the
original grant date of Option Grant 3 and the expiration date of such option.], concurrent with and subject to Employee’s exercise of the entire vested portion of Option Grant 3, the Company shall pay Employee an amount equal to
(A) $                    , less (B) the amount, if any, by which
$                     is greater than the product of (x) the fair market value of a share of Company Common Stock on the
Option Grant 1 Expiration Date or the Payment Event, as applicable, as determined in accordance with Section 21(h) of the Company’s 2005 Stock Option Plan, multiplied by (y) [__], and, in the case of a Payment Event that
occurs before an Employee is fully vested in the Shares subject to Option Grant 3, multiplied by (C) a percentage equal to the vested percentage of Option Grant 3 as of the Payment Event. 

 

	 	(iv)	Upon the earlier the occurrence of a Payment Event, or
[                    ] (the date the option granted to Employee on
[                    ] (“Option Grant 4”) expires (the “Option Grant 4 Expiration Date”)) [Insert the
original grant date of Option Grant 4 and the expiration date of such option.], concurrent with and subject to Employee’s exercise of the entire vested portion of Option Grant 4, the Company shall pay Employee an amount equal to
(A) $                    , less (B) the amount, if any, by which
$                     is greater than the product of (x) the fair market value of a share of Company Common Stock on the
Option Grant 4 Expiration Date or the Payment Event, as applicable, as determined in accordance with Section 21(h) of the Company’s 2005 Stock Option Plan, multiplied by (y) [__], and, in the case of a Payment Event that
occurs before an Employee is fully vested in the Shares subject to Option Grant 4, multiplied by (C) a percentage equal to the vested percentage of Option Grant 4 as of the Payment Event. 

In connection with the occurrence of a Payment Event and notwithstanding anything to the contrary in this Section 2(f), Employee
shall not be entitled to payment of the amounts pursuant to this Section 2(f) upon the occurrence of such Payment Event unless Employee exercises the entire vested and unexercised portion of Option Grant 1, Option Grant 2, Option Grant 3 and
Option Grant 4. For the avoidance of doubt, Employee shall not be entitled to any amounts pursuant to this Section 2(f) if Employee receives amounts pursuant to Section 2(e). 

 

	 	(g)	For purposes of this Agreement, “Cause” shall mean Cause as defined in the Company’s 2005 Stock Option Plan. 

  
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	 	(h)	For purposes of this Agreement, “Change in Control” shall mean (i) any consolidation, merger or other transaction in which the Company is not the
surviving entity (other than any such transaction for the purposes of changing the Company’s domicile or form of organization) or which results in the acquisition of all or substantially all of the outstanding shares of Company Common Stock by
a single person or entity or by a group of persons or entities acting in concert or (ii) any sale or other transfer or disposition of all or substantially all of the Company’s assets (excluding, however, for this purpose any real estate
“sale-lease back” transaction); provided, however, that the term “Change in Control” shall not include transactions either (x) with affiliates of the Company or Sun Capital Partners, Inc.
(“Sun”) (as determined by the Company’s Board of Directors in its sole discretion), (y) pursuant to which more than fifty percent (50%) of the shares of voting stock of the surviving or acquiring entity is owned
and/or controlled (by agreement or otherwise), directly or indirectly, by Sun or its affiliates, or (z) in connection with which the consideration paid to the Company or to its stockholders, as the case may be, does not consist primarily of
cash (as determined by the Company’s Board of Directors in its sole discretion); provided, further, however, that a transaction shall not constitute a Change in Control unless the transaction also constitutes a change in
the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets, within the meaning of Section 409A(a)(2)(A)(v) of the Internal Revenue Code of 1986, as amended (the
“Code”) and the regulations or other published guidance (including, without limitation, Treasury Regulation Section 1.409A-3) promulgated thereunder. 

 

	 	(i)	For purposes of this Agreement, “Disability” shall mean Disability as defined in the Company’s 2005 Stock Option Plan. 

 

	 	(j)	In the event it shall be determined that any payment by the Company in connection with a Change in Control to or for the benefit of Employee (whether paid or payable
pursuant to the terms of this Agreement or otherwise) (a “Payment”) would be nondeductible by the Company for Federal income tax purposes because of Section 280G of the Code, the Company shall make reasonable efforts to obtain
shareholder approval of the Payment as described in Section 280G(b)(5)(B) of the Code (“Shareholder Approval”). Anything in this Agreement to the contrary notwithstanding, in the event that the Company is unable to obtain
Shareholder Approval, then the amount payable to Employee hereunder shall be reduced to the Reduced Amount (as hereinafter defined). The “Reduced Amount” shall be that amount which maximizes the Payment amount hereunder without
causing any Payment to be nondeductible by the Company because of Section 280G of the Code. 

  

	3.	The permitted payment events specified in Section 2 are intended to comply with the provisions of Section 409A(a)(2) of the Code. The Company may make any
changes to this Agreement it determines in its sole discretion are necessary to comply with the provisions of Code Section 409A and any final, proposed, or temporary regulations or any other guidance issued thereunder without the consent of
Employee. 

  

	4.	The Company, or its designated paying agent, may withhold from any amounts payable to Employee under this Agreement such foreign, federal, state, local and other taxes
as may be required to be withheld pursuant to any applicable law or regulation. Other than in respect of amounts withheld in accordance with the preceding sentence, Employee agrees and acknowledges that Employee is solely responsible for all of the
tax obligations and consequences stemming from the Agreement (including, without limitation, any tax consequences arising under Section 409A of the Code) and that the Company has no responsibility for any such tax obligations or consequences.

  
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	5.	Employee agrees to abide by and hereby reaffirms the covenants and agreements set forth in this Agreement, any grant agreement whereby the Company or any of its
affiliates granted options or other securities to Employee; and agrees that this Agreement constitutes additional consideration in support of such covenants and agreements. 

 

	6.	This Agreement is legally binding on the parties and their respective successors and assigns. It may be executed in counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. It constitutes the entire agreement and understanding of the parties with respect to the subject matter hereof, and supersedes and preempts any prior written or oral
agreements understandings, or representations with respect thereto. Except as set forth herein, the terms and provisions of this Agreement cannot be terminated, modified or amended except in a writing signed by the party against whom enforcement is
sought. This Agreement shall be governed by, and construed and, except as set forth in the second to last sentence of this paragraph, interpreted in accordance with, the laws of the State of Delaware, and any suit, action or proceeding arising out
of or relating to this Agreement shall be commenced and maintained in any court of competent subject matter jurisdiction located in Wilmington, Delaware. In any suit, action or proceeding arising out of or in connection with this Agreement, the
prevailing party shall be entitled to recover from the other party, upon final judgment on the merits, all attorneys’ fees and disbursements actually billed to such party, including all such fees and disbursements incurred at trial, during any
appeal or during negotiations. None of Employee’s rights under this Agreement may be transferred, assigned, pledged or encumbered. Any ambiguity with respect to any term of this Agreement or any interpretation thereof shall be resolved in the
sole discretion of the Company’s Board of Directors. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY LITIGATION, ACTION, PROCEEDING, CROSS-CLAIM, OR COUNTERCLAIM IN ANY COURT (WHETHER BASED ON CONTRACT, TORT, OR
OTHERWISE) ARISING OUT OF, RELATING TO OR IN CONNECTION WITH (i) THIS AGREEMENT OR THE VALIDITY, PERFORMANCE, INTERPRETATION, COLLECTION OR ENFORCEMENT HEREOF OR (ii) THE ACTIONS OF SUCH PARTY IN THE NEGOTIATION, AUTHORIZATION, EXECUTION,
DELIVERY, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF. 

  

	7.	Employee agrees and acknowledges that nothing in this Agreement shall confer upon Employee any right to continue in the employ of the Company or any of its
subsidiaries or affiliates, or interfere in any way with any right of the Company or any of its subsidiaries or affiliates to terminate such employment at any time for any reason whatsoever (whether for cause or without cause) without liability to
the Company or any of its subsidiaries or affiliates. 

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first
above written. 
  

									
	Accepted and Agreed:	 		 	[COMPANY]
					
		 	 	 		 	By:	 	 
		 	[                    ]	 		 	Name:	 	
		 		 		 	Title:Limited Waiver to Second Amended and Restated Loan and Security Agreement

 Exhibit 10.24 
 LIMITED WAIVER 
 TO 

SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 
 THIS LIMITED WAIVER TO SECOND AMENDED AND RESTATED LOAN
AND SECURITY AGREEMENT (this “Limited Waiver”) is entered into August 9, 2010, by and between FORCE10 NETWORKS, INC., a
Delaware corporation (“Parent”), and FORCE10 NETWORKS GLOBAL, INC., formerly known as Titan1 Acquisition Corp., a Delaware corporation
(“Titan1”, together with Parent, collectively, jointly and severally, “Borrower”), and SILICON VALLEY BANK
(“Bank”). Capitalized terms used herein without definition shall have the meanings given to them in the Loan Agreement (as defined below). 
 RECITALS 
 A. Borrower, Carrier Access Corporation, a
Delaware corporation (“CAC”), and Bank entered into that certain Second Amended and Restated Loan and Security Agreement dated as of June 26, 2009 (as amended and as may be further amended, restated, or otherwise
modified, the “Loan Agreement”), pursuant to which the Bank agreed to extend and make available to Borrower and CAC certain advances of money. 
 B. Borrower is currently in default of the Loan Agreement for failing to comply with the covenant set forth in Section 6.9(a) (Quick Ratio) thereto for the month ended June 30, 2010 (the
“Existing Default”). 
 C. Borrower desires that Bank waive the Existing Default upon the terms
and conditions more fully set forth herein. Subject to the representations and warranties of Borrower herein and upon the terms and conditions set forth in this Limited Waiver, Bank is willing to provide the limited waiver specified herein.

 AGREEMENT 
 NOW, THEREFORE, in consideration of the foregoing Recitals and intending to be legally bound, the parties hereto agree as follows: 
 1. LIMITED WAIVER TO LOAN AGREEMENT. Bank hereby agrees, subject to the terms and conditions of
Sections 3 and 4 hereof, to waive the Existing Default, including without limitation, enforcement of its remedies with respect to any such Existing Default. 
 2. BORROWER’S REPRESENTATIONS AND WARRANTIES. Borrower represents and warrants that:

 a. immediately upon giving effect to this Limited Waiver (i) the representations and warranties contained in the
Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and
(ii) no Event of Default has occurred and is continuing; 

 b. Borrower has the corporate power and authority to execute and deliver this
Limited Waiver and to perform its obligations under the Loan Agreement, as amended by this Limited Waiver; 
 c. the
certificate of incorporation, bylaws and other organizational documents of Borrower previously delivered to Bank remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and
effect; 
 d. the execution and delivery by Borrower of this Limited Waiver and the performance by Borrower of its
obligations under the Loan Agreement, as amended by this Limited Waiver, have been duly authorized by all necessary corporate action on the part of Borrower; 
 e. this Limited Waiver has been duly executed and delivered by the Borrower and is the binding obligation of Borrower, enforceable against it in accordance with its terms, except as such
enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights; and 

f. as of the date hereof, it has no defenses against the obligations to pay any amounts under the Obligations. Borrower
acknowledges that Bank has acted in good faith and has conducted in a commercially reasonable manner its relationships with Borrower in connection with this Limited Waiver and in connection with the Loan Documents. 

Borrower understands and acknowledges that Bank is entering into this Limited Waiver in reliance upon, and in partial consideration for,
the above representations and warranties, and agrees that such reliance is reasonable and appropriate. 
 3.
LIMITATION. The limited waiver set forth in this Limited Waiver shall be limited precisely as written and shall not be deemed (a) to be a waiver or modification of any other term or condition of the Loan
Agreement or of any other instrument or agreement referred to therein or to prejudice any right or remedy which Bank may now have or may have in the future under or in connection with the Loan Agreement or any instrument or agreement referred to
therein; or (b) to be a consent to any future amendment or modification or waiver to any instrument or agreement the execution and delivery of which is consented to hereby, or to any waiver of any of the provisions thereof. Except as expressly
amended hereby, the Loan Agreement shall continue in full force and effect. 
 4.
EFFECTIVENESS. This Limited Waiver shall become effective upon the satisfaction of all the following conditions precedent: 
 4.1. Limited Waiver. Borrower and Bank shall have duly executed and delivered this Limited Waiver to Bank. 
 4.2. Waiver Fee. Borrower shall have paid to Bank a waiver fee in the amount of $25,000. 

 4.3. Bank Expenses. Borrower shall have paid all Bank Expenses (including all
reasonable attorneys’ fees and reasonable expenses) incurred through the date of this Limited Waiver. 
 5.
COUNTERPARTS. This Limited Waiver may be signed in any number of counterparts, and by different parties hereto in separate counterparts, with the same effect as if the signatures to each such counterpart were
upon a single instrument. All counterparts shall be deemed an original of this Limited Waiver. 
 6.
INTEGRATION. This Limited Waiver and any documents executed in connection herewith or pursuant hereto contain the entire agreement between the parties with respect to the subject matter hereof and supersede all
prior agreements, understandings, offers and negotiations, oral or written, with respect thereto and no extrinsic evidence whatsoever may be introduced in any judicial or arbitration proceeding, if any, involving this Limited Waiver; except that any
financing statements or other agreements or instruments filed by Bank with respect to Borrower shall remain in full force and effect. 
 7. GOVERNING LAW; VENUE. THIS LIMITED WAIVER SHALL BE GOVERNED BY AND SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA. Borrower and Bank each submit to the exclusive jurisdiction of the State and Federal courts in Santa Clara County, California. 

[Signature page follows] 

 IN WITNESS WHEREOF, the parties hereto have caused this Limited Waiver to be executed as of
the date first written above. 
  

							
	 BORROWER:
	 		 	 FORCE10 NETWORKS, INC.,

a Delaware corporation

				
		 		 	By	 	 /s/ WR. Zerella

		 		 	Name:	 	 WR. Zerella

		 		 	Title:	 	 CFO

			
		 		 	FORCE10 NETWORKS GLOBAL, INC.,
		 		 	a Delaware corporation
				
		 		 	By	 	 /s/ WR. Zerella

		 		 	Name:	 	 WR. Zerella

		 		 	Title:	 	 CFO

			
	 BANK:
	 		 	SILICON VALLEY BANK
				
		 		 	By	 	 /s/ Mike Meier

		 		 	Name:	 	 Mike Meier

		 		 	Title:	 	 Relationship Manager

Signature page to Limited Waiver

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