Document:

Exhibit 10.2

Exhibit 10.2

	
					
	Peter M. Fasolo
	 
	 
	 
	 

	Vice President, Global Human Resources
	 
	 
	 
	One Johnson & Johnson Plaza

	Executive Committee Member
	 
	 
	 
	New Brunswick, NJ  08933

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	September 27, 2012

        

Paul Stoffels
Johnson & Johnson
One Johnson & Johnson Plaza
WT603
New Brunswick, NJ  08933

Dear Paul:

I am pleased to confirm your new role within Johnson & Johnson (“the Company”) as Worldwide Chairman, Pharmaceuticals Group and Chief Scientific Officer effective as of October 1, 2012.  

In your role as Worldwide Chairman, Pharmaceuticals Group and Chief Scientific Officer you shall serve on the Executive Committee and shall head research and development activities for the Company.  You shall have such other duties and responsibilities as shall be assigned to you from time to time.      

Compensation
Your annualized base salary, which will be paid bi-weekly, will be $ 925,000.   Your non-salary compensation and benefits will continue to be administered in accordance with the Company's policies and procedures.

Your annual performance bonus is a cash bonus.  For your position, the current bonus target is 100% of your annualized base salary. If your previous position in the same performance year had a different bonus target or was not eligible for a cash bonus, your award may be prorated.

You are eligible to participate in the Long-Term Incentive Program for Executive Leaders.  For your position, the current long-term incentive (“LTI”) target is 350% of your annualized base salary. Your LTI award may be comprised of a combination of stock options, restricted share units (“RSUs”), and performance share units (“PSUs”).  Awards vest three years from the date of the grant subject to vesting requirements as stated in the applicable Long-Term Incentive Plan document and award certificates.  Please see the enclosed brochure for more details on the Long-Term Incentive Program for Executive Leaders. 

Subject to the conditions described in this paragraph, you are also eligible to receive an additional stipend at an annual rate of $320,000 (the “Stipend”), payable in equal bi-weekly installments in accordance with Company's payroll policies, beginning on the first payroll period following October 1, 2012.  As you are a non-resident of the U.S. subject to both U.S. and foreign taxation, the Stipend is being provided for you to pay certain foreign taxes owed by you.  You will not receive any other tax equalization assistance from the Company.  Payment of the Stipend will be reviewed on an annual basis and can be terminated at any time upon written notice to you.  

The granting of all compensation, as well as its amount, is at the Company's sole discretion and is contingent upon your individual performance, the performance of the Company, the performance criteria defined by the Company's compensation plans, and your 

length of service during the performance year for which it is being granted.  Guidelines and continued eligibility are determined annually, and are subject to change from year to year.  The continuation of any compensation program is subject to management discretion.  Performance-cycle salary changes and non-salary compensation, based on the guidelines and eligibility, as well as your performance, are determined at year-end, once the Company's results have been assessed, and are paid during the first quarter of the following year.  Timing of payout may vary for exceptions.

The Company maintains an employment-at-will relationship with its employees.  This means that both you and the Company retain the right to terminate this employment relationship at any time and for any reason.  All compensation and assistance referred to in this letter is subject to your continued employment and satisfactory job performance.  All salary, bonuses, and allowances referred to in this letter will be considered normal income and will be subject to applicable state and Federal income taxes.  

Your Johnson & Johnson Employee Secrecy, Intellectual Property, Non Competition and Non-Solicitation Agreement will remain in full force and effect.  

This letter constitutes our complete offer package.  Any promises or representations, either oral or written, not contained in this letter and the documents referred to herein, are not valid and are not binding on Johnson & Johnson.  

Paul, we are pleased to offer you this position, and we are looking forward to your taking on your new role with Johnson & Johnson.  Please signify your acceptance of this offer of employment by signing one copy of this letter and returning it to me.  If you have any questions concerning this offer, please feel free to give me a call at (732) 524-2335.
	
					
	 
	 
	 
	 
	 

	 
	 
	 
	Sincerely,
	 

	 
	 
	 
	 
	 

	 
	 
	 
	/s/ Peter Fasolo
	 

	 
	 
	 
	Peter Fasolo
	 

	 
	 
	 
	Vice President, Global Human Resources
	 

	 
	 
	 
	Executive Committee Member on behalf of
	 

	 
	 
	 
	Johnson & Johnson
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	Agreed & Accepted:
	 
	 
	 
	 

	 
	 
	 
	 
	 

	/s/ Paul Stoffels
	 
	 
	September 28, 2012
	 

	*Applicants signature or (printed name if by email)
	 
	 
	Date
	 

	 
	 
	 
	 
	 

*Note:  The Company accepts electronic signatures on Applications for Employment and offer letters.  If you choose to use an electronic signature to accept this offer, you acknowledge and agree to the following:

“I understand that - pursuant to the Electronic Signature in Global and National Commerce Act - returning the signed offer letter from my e-mail account shall have the same legal effect and validity with respect to the acknowledgments set forth above as my handwritten signature.”

Global Recruiting, a unit of Johnson & Johnson Services, Inc., recognizes electronic signature for offer acceptance as valid provided that the E-mail account used to return the offer acceptance and the E-mail account noted on the candidate's Employment Application (or for internal employees their online bid application) are identical.Exhibit 10.1 09.30.2012

Exhibit 10.1
FIRST AMENDMENT TO
AMENDED AND RESTATED SHAREHOLDERS AGREEMENT

This FIRST AMENDMENT TO THE AMENDED AND RESTATED SHAREHOLDERS AGREEMENT (this "Amendment"), dated as of September 28, 2012, is by and among (i) Asian Coast Development (Canada) Ltd., a Canadian corporation (the "Company"), (ii) Harbinger II S.a.r.l., a Luxembourg company, Blue Line ACDL, Inc., a Delaware company, Breakaway ACDL, Inc., a Delaware company, Credit Distressed Blue Line Master Fund, Ltd., a company organized under the laws of the Cayman Islands, Global Opportunities Breakaway Ltd., a company organized under the laws of the Cayman Islands and Harbinger China Dragon Intermediate Fund, L.P., a limited partnership organized under the laws of the Cayman Islands (collectively, “Harbinger”) and (ii) PNK Development 18, LLC, a Delaware limited liability company and PNK Development 31, LLC, a Delaware limited liability company (collectively, “Pinnacle”), and is being entered into in order to amend the Amended and Restated Shareholders Agreement dated as of August 29, 2012, entered into by the Company, Harbinger and Pinnacle (the "Shareholders Agreement").  Capitalized terms used but not otherwise defined in this Amendment shall have the meanings set forth or referenced in the Shareholders Agreement.
RECITALS
WHEREAS, the Company, Harbinger and PNK Development 18, LLC are contemplating entering into an Amended and Restated Subscription Agreement dated as of September 28, 2012 (the “Amended and Restated Subscription Agreement”);
WHEREAS, the Company, Harbinger and Pinnacle wish to amend the Shareholders Agreement in connection with entering into the Amended and Restated Subscription Agreement;
NOW, THEREFORE, in consideration of the mutual premises and covenants set forth herein, the parties hereto agree as follows:
1.Amendment to Section 7.1.  The definition of “2012 Subscription Agreement” is hereby amended and is replaced in its entirety with the following: 

“2012 Subscription Agreement” means that certain Share Subscription Agreement dated as of August 28, 2012, between the Company, as issuer, and each of the Harbinger and Pinnacle parties thereto, as subscribers, as amended and restated on September 28, 2012, and as the same may be further amended and/or restated from time to time, pursuant to which (a) such Harbinger parties will commit to invest a total of US$44,400,000 in the Company to purchase up to 444,000 Class VI Shares and (b) such Pinnacle parties will commit to invest a total of US$15,600,000 in the Company to purchase up to 156,000 Class VI Shares.”

2.Governing Law; Venue. This Amendment shall be governed by and construed and enforced in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable therein without regard to any conflict of law principles thereof that would result in the application of the laws of any other jurisdiction. Each of the parties hereto agrees that any action or proceeding arising out of or relating to this Amendment must be instituted in the Courts of the Province of British Columbia, waives any objection which it may have now or later to the venue of that action or proceeding, irrevocably and unconditionally submits to the exclusive jurisdiction of those Courts in that action or proceeding and agrees to be bound by any final judgment of those Courts.

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3.Agreement Remains in Effect.  The parties agree that the Shareholders Agreement, as amended by this Amendment, remains in full force and effect.

4.Counterparts.  This Amendment may be executed by facsimile or other electronic transmission and in as many counterparts as are necessary, each of which shall be deemed to be an original, and shall be binding on each party when each party hereto has signed and delivered one such counterpart.  When a counterpart of this Amendment has been executed by each party, all counterparts together shall constitute one agreement.
[SIGNATURE PAGE FOLLOWS]

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IN WITNESS WHEREOF the parties, intending to be legally bound, have executed and delivered this Amendment as of the date first referenced above.
	
		
	ASIAN COAST DEVELOPMENT
(CANADA) LTD.
	HARBINGER II S.À R.L.

	Per:  /s/ Lloyd Nathan
Name:  Lloyd Nathan
Title:      Chief Executive Officer
	Per:  /s/ Robin Roger
Name: Robin Roger
Title:   A Manager

	 
	Per:  /s/ Lorenzo Barcaglioni
Name: Lorenzo Barcaglioni
Title:   B Manager

	 
	 

	BLUE LINE ACDL, INC.
	BREAKAWAY ACDL, INC.

	Per:  /s/ Keith M. Hladek
Name:   Keith M. Hladek
Title:     Chief Financial Officer
              Co-Chief Operating Officer
	Per:  /s/ Keith M. Hladek
Name:   Keith M. Hladek
Title:     Chief Financial Officer
              Co-Chief Operating Officer    

	 
	 

	HARBINGER CHINA DRAGON INTERMEDIATE FUND, L.P.
	CREDIT DISTRESSED BLUE LINE MASTER FUND, LTD.

	Per:  /s/ Keith M. Hladek
Name:   Keith M. Hladek
Title:     Chief Financial Officer
              Co-Chief Operating Officer
	Per:  /s/ Keith M. Hladek
Name:   Keith M. Hladek
Title:     Chief Financial Officer
              Co-Chief Operating Officer

	 
	 

	GLOBAL OPPORTUNITIES BREAKAWAY LTD.
	PNK DEVELOPMENT 18, LLC

	Per:  /s/ Keith M. Hladek
Name:   Keith M. Hladek
Title:     Chief Financial Officer
              Co-Chief Operating Officer
	Per:  /s/ Carlos Ruisanchez
Name:  Carlos Ruisanchez
Title:     Chief Financial Officer and    
              Treasurer  

	 
	 

	PNK DEVELOPMENT 31, LLC
	 

	Per:  /s/ Carlos Ruisanchez
Name:   Carlos Ruisanchez
Title:     Treasurer
	 

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