Document:

Cypress Sharpridge Investments, Inc. (5 year vesting)

 Exhibit 10.2 
 FORM OF RESTRICTED STOCK AWARD AGREEMENT 
 THIS
AGREEMENT (the “Agreement”) is made effective as of the 17th day of December 2009 (the “Date of Grant”), between Cypress Sharpridge Investments, Inc., a Maryland corporation (the “Company”), and
                     (the “Participant”). 
 R E C I T A L S: 
 WHEREAS, the Company has adopted the Cypress Sharpridge Investments, Inc. 2006 Stock Incentive Plan (the “Plan”), which Plan is incorporated herein by reference and made a part of this Agreement; capitalized terms not
otherwise defined herein shall have the same meanings as in the Plan; and 
 WHEREAS, the Committee has determined that
it would be in the best interests of the Company and its stockholders to grant the restricted stock award provided for herein to the Participant, an employee of Sharpridge Capital Management, L.P., a Delaware limited partnership
(“Sharpridge”), which serves as a Sub-Advisor to Cypress Sharpridge Advisors, LLC, a Delaware limited liability company, and the manager of the Company (the “Manager”). 
 NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties hereto agree as follows: 
 1. Grant of the Restricted Shares. Subject to the terms and conditions of the Plan and the additional terms and conditions set forth
in this Agreement, the Company hereby grants to the Participant a restricted stock award (the “Restricted Stock Award”) consisting of
                     restricted shares of the Company’s common stock, $.01 par value per share (the “Restricted Shares”). The
Restricted Shares shall vest and become nonforfeitable in accordance with Section 2 hereof. 
 2. Vesting.

 (a) Subject to the Participant’s continued employment with at least one of the Company, an Affiliate, the Manager or
Sharpridge, the Restricted Shares shall vest and become nonforfeitable as follows: 
  

	 	i.	with respect to                      Restricted Shares (representing
15% of the Restricted Shares initially granted hereunder) on the first anniversary of the Date of Grant; 

  

	 	ii.	with respect to                      Restricted Shares (representing
15% of the Restricted Shares initially granted hereunder) on the second anniversary of the Date of Grant; 

	 	iii.	with respect to                      Restricted Shares (representing
20% of the Restricted Shares initially granted hereunder) on the third anniversary of the Date of Grant; 

  

	 	iv.	with respect to                      Restricted Shares (representing
20% of the Restricted Shares initially granted hereunder) on the fourth anniversary of the Date of Grant; and 

  

	 	v.	with respect to                      Restricted Shares (representing
30% of the Restricted Shares initially granted hereunder) on the fifth anniversary of the Date of Grant. 

 (b)
The Restricted Shares shall be forfeited by the Participant without consideration on the date on which the Participant ceases to be employed by at least one of the Company, an Affiliate, the Manager or Sharpridge, to the extent any such Restricted
Shares are not vested on or before the cessation of such employment. 
 (c) Notwithstanding any other provision of this
Agreement to the contrary but subject to Section 9(b) of the Plan, any Restricted Shares not previously forfeited or vested shall become vested (i) on the date of the Participant’s death, (ii) on the date that the Participant
ceases to be employed by at least one of the Company, an Affiliate, the Manager or Sharpridge on account of Disability (as defined below), or (iii) on the date that a Change in Control occurs. 
 (d) For purposes of this Agreement, “employment” means service provided by the Participant as an officer, director or employee of
the Company, an Affiliate, the Manager or Sharpridge. The Participant’s employment with the Company, an Affiliate, the Manager or Sharpridge shall not be deemed to have ended if the Participant transfers from the employment or service of one
such entity to the employment or service of another such entity without an interruption in service. 
 (e) For purposes of this
Agreement, “Disability” means that the Participant is, as a result of injury or physical or mental illness, absent from the full-time performance of his or her duties to the Company, an Affiliate, the Manager or Sharpridge, as the case may
be, for a period of 180 consecutive calendar days. 
 3. Certificates. Certificates evidencing the Restricted Shares
shall be issued by the Company and shall be registered in the Participant’s name on the stock transfer books of the Company promptly after the date hereof, but shall remain in the physical custody of the Company or its designee at all times
prior to the vesting of such Restricted Shares pursuant to Section 2. As a condition to the receipt of this Restricted Stock Award, the Participant shall deliver to the Company a stock power, duly endorsed in blank, relating to the Restricted
Shares. No certificates shall be issued for fractional Shares. 
 4. Rights as a Stockholder. The Participant shall be
the record owner of the Restricted Shares until or unless such Restricted Shares are forfeited pursuant to Section 2 hereof, and as record owner shall be entitled to all rights of a common stockholder of the Company, including, without
limitation, voting rights with respect to the Restricted Shares and the Participant shall receive, when paid, any dividends or distributions on all of the Restricted Shares granted hereunder as to which the Participant is the record holder

  

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on the applicable record date; provided that the Restricted Shares shall be subject to the limitations on transfer and encumbrance set forth in Section 7. As soon as practicable
following the vesting of any Restricted Shares pursuant to Section 2, certificates for the Restricted Shares which shall have vested shall be delivered to the Participant or to the Participant along with the stock powers relating thereto.

 5. Legend on Certificates. The certificates representing the vested Restricted Shares delivered to the Participant
shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which such
Shares are listed, and any applicable Federal or state laws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 
 6. No Right to Continued Service. The granting of the Restricted Shares evidenced by this Agreement shall impose no obligation on the
Company, an Affiliate, the Manager or Sharpridge to continue the employment or service of the Participant and shall not lessen or affect the right of the Company, an Affiliate, the Manager or Sharpridge to terminate the employment or service of such
Participant. 
 7. Participant Representations. The Participant represents the following to the Company: 
 (a) The Participant: 
  

	 	i.	is an “accredited investor,” as that term is defined under Rule 501 of Regulation D of the Securities Act of 1933, as amended, based one or more of the
following: 

  

	 	A.	the Participant is a director or executive officer of the Company; 

  

	 	B.	the Participant is a natural person and has a net worth, either alone or with his or her spouse, of more than $1,000,000; or 

  

	 	C.	the Participant is a natural person and had income in excess of $200,000 during each of the previous two years and reasonably expects to have income in excess of
$200,000 during the current year, or joint income with his or her spouse in excess of $300,000 during each of the previous two years and reasonably expects to have joint income in excess of $300,000 during the current year; or

  

	 	ii.	either alone or with his or her purchaser representative(s) has such knowledge and experience in financial and business matters so that he or she is capable of
evaluating the merits and risks of the prospective investment made in connection with the Restricted Shares. 

  

 3 

 (b) The Participant represents and agrees that he or she has received such information as
the Participant deems necessary in order to make an investment decision with respect to the Restricted Shares, including but not limited to the Company’s public filings made pursuant to the Securities Act of 1933, as amended, and the Securities
Exchange Act of 1934, as amended. The Participant represents and agrees that the Participant and his or her professional advisor(s), if any, have had the right to ask questions of and receive answers from the Company and its officers and directors,
and to obtain such information concerning the terms and conditions of the offering of the Restricted Shares to the extent that the Company possesses the same or could acquire it without unreasonable effort or expense, as the Participant and his or
her professional advisor(s), if any, deemed necessary. The Participant represents and agrees that prior to the Participant’s agreement to receive the Restricted Shares, the Participant and his or her professional advisor(s), if any, have asked
such questions, received such answers and obtained such information as the Participant and his or her advisor(s), if any, deemed necessary to verify the accuracy of any other information that the Participant and his or her advisor(s), if any, deemed
relevant to making an investment decision with respect to the Restricted Shares. 
 8. Transferability. The Restricted
Shares may not, at any time prior to becoming vested pursuant to Section 2, be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant and any such purported assignment, alienation, pledge,
attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate. 
 9.
Withholding. The Participant shall make arrangements satisfactory to the Company with respect to the satisfaction of applicable income and employment tax withholding requirements and the Company, an Affiliate, the Manager or Sharpridge is
hereby authorized to withhold from the Participant’s compensation any applicable withholding taxes in respect of the Restricted Shares, their grant or vesting or any payment or transfer with respect to the Restricted Shares and to take such
action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. Without limiting the generality of the foregoing, to the extent permitted by the Committee, the Participant
may satisfy, in whole or in part, the foregoing withholding liability by delivery of Shares held by the Participant (which are not subject to any pledge or other security interest and which have been vested and held by the Participant for no less
than six months (or such other period as established from time to time by the Committee or United States generally accepted accounting principles)) or by having the Company withhold from the number of Restricted Shares otherwise deliverable to
the Participant hereunder Restricted Shares with a Fair Market Value not in excess of the statutory minimum withholding liability. 
 10. Securities Laws. Upon the vesting of any Restricted Shares, the Participant will make or enter into such written representations, warranties and agreements as the Committee may reasonably request in order to comply with
applicable securities laws or with this Agreement. 
  

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 11. Notices. Any notice necessary under this Agreement shall be addressed to the
Company in care of its Secretary at the principal executive office of the Company and to the Participant at the address appearing in the corporate records of the Company for such Participant or to either party at such other address as either party
hereto may hereafter designate in writing to the other. Any such notice shall be deemed effective upon receipt thereof by the addressee. 
 12. Choice of Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS. 
 13. Restricted Stock Award Subject to Plan. By entering into this Agreement the Participant agrees and acknowledges that the
Participant has received and read a copy of the Plan. The Restricted Stock Award and the Restricted Shares granted hereunder are subject to the Plan. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated
herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail. 
 14. Signature in Counterparts. This Agreement may be signed in counterparts, each of which shall be an original, with the same effect
as if the signatures thereto and hereto were upon the same instrument. 
 [Remainder of Page Intentionally Left Blank –

 Signature Page Follows] 
  

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

			
	CYPRESS SHARPRIDGE INVESTMENTS, INC.
		
	By:	 	              

		 	Kevin E. Grant, Chief Executive Officer

  

	
	AGREED AND ACKNOWLEDGED:
	
	  

	Participant

  

 6ex10_24.htm

    
      

    

    Exhibit
10.24

     

    

       

      December
16, 2009

      

      Axcan
Holdings Inc.

      597
Boulevard Laurier

      Mont-Saint-Hilaire,
QC J3H 6C4

      

      Re:           Advancement and
Indemnification Rights

      

      In light
of recent court decisions concerning the rights of corporate directors and
officers (including directors designated by sponsor shareholder investors) to
advancement of expenses and indemnification, TPG Capital, L.P. ("TPG") and Axcan
Holdings Inc. (the "Company" or "Axcan") have agreed
to enter into this Letter Agreement (the "Agreement") to
clarify their understandings with respect to certain
matters.  Capitalized terms not defined elsewhere in this Agreement
are used herein as defined in Section
3.

      

      This
Agreement clarifies certain rights of (i) TPG, (ii) any TPG Affiliate or other
persons or entities providing management, advisory, consulting or other services
at the direction or request of TPG or any TPG Affiliate to or for the benefit of
the Company or any successors or direct or indirect parents or subsidiaries of
the Company (collectively, "Axcan Companies")
(iii) any Fund; (iv) any persons designated by TPG, any TPG Affiliate or any
Fund to serve as a director, officer, board observer, partner, trustee,
fiduciary, manager, employee, agent or functional or foreign equivalent of the
foregoing, of or to any of the Axcan Companies or of or to any partnership or
joint venture of which any Axcan Company is a partner or member (collectively,
the "TPG
Designees"); and (v) any direct or indirect partners (including
general partners), shareholders, members (including managing members),
controlling persons,  directors, officers, fiduciaries, managers,
employees and agents of each of the foregoing  (those persons and
entities identified in (i), (ii), (iii), (iv) and (v) are herein referred to
collectively as the "Indemnitees," and
individually as an "Indemnitee"), where
such rights exist under applicable law or pursuant to an Organizational
Document, Management Agreement or any other agreement or document of an Axcan
Company or to which an Axcan Company is a party (herein referred to collectively
as the "Axcan
Indemnity Undertakings").  For clarity, this Agreement is not
an Axcan Indemnity Undertaking.

      

      The
parties intend that (i) the Axcan Companies are and shall at all times be the
indemnitors of first resort with respect to any and all matters for which
advancement of expenses and indemnification are provided by the Axcan Companies
to or on behalf of any Indemnitee, without regard to the time of any related
claims and liabilities or of any act, statement or omission relating thereto,
(ii) the advancement of expenses and/or indemnity for each Indemnitee shall be
on a primary basis, and (iii) any Indemnitee may be expected to seek advancement
of expenses and/or indemnification from any other potential source of such
advancement or indemnification (including from any other Indemnitee) only if,
and to the extent, that the Axcan Companies are not legally required and/or
financially unable to advance expenses and/or indemnify, as the case may be, to
or on behalf of such Indemnitee.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      In
consideration of the mutual agreements herein contained, and other good and
valuable consideration – including TPG's agreement (or the agreement of any TPG
Affiliate) to provide management, advisory or other services to the Axcan
Companies and the agreement of TPG Designees to serve one or more Axcan
Companies – the receipt and sufficiency of which is hereby acknowledged, all
parties intending to be legally bound, hereby agree as follows:

      

      1.           Company is Primary
Indemnitor.

       

      Each of
the undersigned Axcan Companies hereby acknowledges and agrees that (a) each of
the undersigned Axcan Companies is an indemnitor of first resort with
respect to an Axcan Indemnity Undertaking ; (b) the obligations of the
Axcan Companies to each Indemnitee under Axcan Indemnity Undertakings are
primary, and any obligations of TPG, any TPG Affiliate or any Fund or other
Indemnitee to provide advancement of expenses or indemnification for any Losses
incurred by Indemnitee and for which any Axcan Company is obligated to indemnify
an Indemnitee under an Axcan Indemnity Undertaking  are secondary, and
(c) if TPG, or any TPG Affiliate, Fund or other Indemnitee, is obligated to pay,
or pays, or causes to be paid for any reason, any expense or Loss which any
Axcan Company is otherwise obligated to pay to or on behalf of Indemnitee under
an Axcan Indemnity Undertaking, then (x) such TPG, TPG Affiliate, Fund or other
Indemnitee, as the case may be, shall be fully subrogated to and otherwise
succeed to all rights of Indemnitee with respect to such payment, including with
respect to any rights to claim such amounts from any of the Axcan Companies and
(y) each undersigned Axcan Company shall jointly and severally guarantee
performance of this Agreement by the Axcan Companies.

      

      2.           Specific Waiver of
Contribution, etc.

       

      Each
undersigned Axcan Company hereby unconditionally and irrevocably waives,
relinquishes and releases (and covenants and agrees not to exercise, and to
cause each affiliate of any Axcan Company not to exercise), any
claims  that any Axcan Company may now have or hereafter acquire
against any Fund or other TPG Affiliate, whether pursuant to any right of
contribution, subrogation, indemnification or otherwise,  to require
it to reimburse any expense or Loss which any Axcan Company is obligated to pay
another Indemnitee under an Axcan Indemnity Undertaking.

       

      3.           Definitions.  As
used in this Agreement, the phrase "including" shall not be deemed to be a term
of limitation but rather shall be construed to mean "including, without
limitation" and the following terms are used with the meaning set forth
herein:

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
         

        
          	
                  (a)

                	
                   "Losses"
      means any and all damages, judgments, liabilities, assessments, fines,
      penalties, amounts paid in settlement, fees and costs (including attorneys
      fees and costs) or other losses.

                

        

         

      

      
        	
                (b)

              	
                "Management
      Agreement" means any advisory, management, monitoring or other
      similar or equivalent agreement.

              

      

       

      
        	
                (c)

              	
                "Fund" means any
      investment fund formed or managed by TPG or any TPG Affiliate or for which
      TPG or any TPG Affiliate serves as an investment adviser including without
      limitation TPG Partners V, L.P., and any other partnership, limited
      liability company or other legal entity that is a TPG Affiliate which
      directly or indirectly owns equity securities of the Company or any other
      Axcan Company.

              

      

       

      
        	
                (d)

              	
                "Organizational
      Document" means an entity's charter, by-laws, partnership
      agreement, limited liability company agreement, operating agreement,
      indemnification agreement, or other similar or equivalent agreement or
      document.

              

      

       

      
        	
                (e)

              	
                "TPG Affiliate"
      means any entity that, directly or indirectly, (i) is controlled by, (ii)
      controls or (iii) is under common control with, TPG; provided that, under
      no circumstances shall any portfolio company of TPG (including any Axcan
      Company) be deemed a TPG Affiliate
hereunder.

              

      

      
         

        
          	
                  4.

                	
                        
                    Miscellaneous.

                  

                

        

         

      

      
        	
                (a)

              	
                This
      Agreement may be amended, modified, extended or terminated (and the
      provisions hereof may be waived) only by a written agreement specifically
      identified as such and signed by TPG and the relevant Axcan
      Company.  No oral amendment, modification or waiver of this
      Agreement shall be effective.

              

      

       

      
        	
                (b)

              	
                An
      Indemnitee's rights under this Agreement and any Axcan Indemnity
      Undertaking that gives rise to indemnification and/or advancement rights
      are present contractual rights that shall fully vest upon any Indemnitee's
      first service as a director, officer, board observer, fiduciary, partner,
      trustee, manager, employee, agent or functional or foreign equivalent of
      any of the foregoing of any of the Axcan Companies.  No
      amendment, alteration or repeal of this Agreement or any other such
      agreement or document or of any provision hereof or thereof validly
      effected shall limit or restrict any right of Indemnitee under this
      Agreement or such agreement or document in respect of any act, omission or
      statement of such Indemnitee occurring prior to such amendment, alteration
      or repeal. No right under this Agreement may be exercised by or with
      respect to an Indemnitee after a period ending on the sixth (6th)
      anniversary of the date such Indemnitee ceased being a director, officer,
      board observer, fiduciary, partner, trustee, manager, employee, agent or
      functional or foreign equivalent of any of the foregoing of any of the
      Axcan Companies

              

      

       

      
        	
                (c)

              	
                Nothing
      in this Agreement shall be construed to require:  (i) TPG, any
      TPG Affiliate or any other person or entity to continue to provide
      management, advisory, consulting or other services, or (ii) any TPG
      Designee to continue to serve as a director, officer or agent of any Axcan
      Company (or in any other capacity).  No Indemnitee's rights
      hereunder shall be limited or impaired in any way if such Indemnitee
      ceases, for any reason, to serve or provide services to any Axcan
      Company.

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                (d)

              	
                To
      the extent permitted by applicable choice of law principles, this
      Agreement and all claims arising out of or based upon this Agreement or
      relating to the subject matter hereof shall be governed by and construed
      in accordance with the substantive laws of the State of Delaware without
      giving effect to any choice or conflict of law principles or rules that
      would result in the application of the domestic substantive law of any
      other jurisdiction.

              

      

       

      
        	
                (e)

              	
                Except
      as, and to the extent, expressly provided herein, (i) no right or remedy
      herein conferred is intended to be exclusive of any other right or remedy,
      and every other right and remedy shall be cumulative and in addition to
      every other right and remedy given hereunder or now or hereafter existing
      at law or in equity or otherwise, so long as such right or remedy does not
      conflict with any right or remedy provided hereunder, (ii) any and
      all rights to advancement of expenses and/or indemnification to which each
      Indemnitee has ever been, is or may in the future be entitled from the
      Axcan Companies shall remain unchanged by this Agreement and (iii) the
      assertion or employment of any right or remedy hereunder, or otherwise,
      shall not prevent the concurrent assertion or employment of any other
      right or remedy.  To the extent that any term or condition of
      this Agreement conflicts with any term or condition under any Axcan
      Indemnity Undertaking or under any other agreement or document to which
      any of the Axcan Companies and an Indemnitee are parties or by which
      they  are otherwise together bound with respect to the subject
      matter of this Agreement, the terms and conditions of this Agreement shall
      control.

              

      

       

      
        	
                (f)

              	
                Each
      Indemnitee that is not a direct party hereunder is and shall be considered
      an express third-party beneficiary hereunder and shall be entitled to
      enforce this Agreement to the same extent as a party hereunder provided it
      provides prior written notice to the Axcan Companies of its intention to
      seek the benefit of this Agreement.

              

      

       

      
        	
                (g)

              	
                If
      any provision or provisions of this Agreement shall be held to be invalid,
      illegal or unenforceable for any reason whatsoever:  (i) the
      validity, legality and enforceability of the remaining provisions of this
      Agreement (including each portion of any section or subsection of this
      Agreement containing any such provision held to be invalid, illegal or
      unenforceable, that is not itself invalid, illegal or unenforceable) shall
      not in any way be affected or impaired thereby; (ii) such provision or
      provisions shall be deemed reformed to the extent necessary to conform to
      applicable law and to give the maximum effect to the intent of the parties
      expressed herein; and (iii) to the fullest extent possible, the provisions
      of this Agreement (including each portion of any section or subsection of
      this Agreement containing any such provision held to be invalid, illegal
      or unenforceable, that is not itself invalid, illegal or unenforceable)
      shall be construed so as to give effect to the intent manifested
      thereby.

              

      

       

      
        	
                (h)

              	
                This
      Agreement may be executed in any number of counterparts and by each of the
      parties in separate counterparts, each of which when so executed will be
      deemed to be an original and all of which together will constitute one and
      the same instrument.

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Very truly yours,

       

      

       

      
        	 
      	
                TPG
      Capital, L.P.

                By:           Tarrant
      Capital, LLC

                 

                By:  _/s/______________________________

                Name:  Clive
      D. Bode

                Title:   Vice
      President and Secretary

              
	 
      	 
      

      

      

      ACKNOWLEDGED
AND AGREED TO as of the date of this letter.

      

      

      
        	
                Axcan
      Holdings, Inc.

                 

                By:  __/s/_____________________________

                Name:

                Title:

                 

                 

              	
                Axcan
      Pharma Inc.

                 

                By:  __/s/_____________________________

                Name:

                Title

              

      

      

       

      Axcan
Pharma US,  Inc.

       

      By:  __/s/_____________________________

      Name:

      Title

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