Document:

exv10w99

EXHIBIT 10.99

***Text Omitted and Filed Separately

with the Securities and Exchange Commission.

Confidential Treatment Requested

Under 17 C.F.R. Sections 200.80(b)(4)

and 240.24b-2.

AMENDMENT NO. 2 TO

LICENSE, DEVELOPMENT AND COOPERATION AGREEMENT

     This Amendment No. 2 (“Amendment No. 2”) is entered into effective as of April 28, 2009 (the
“Amendment Effective Date”), pursuant to and amending that certain License, Development and
Cooperation Agreement (the “Agreement”) between Gen-Probe Incorporated, a Delaware corporation
(“Gen-Probe”) and DiagnoCure, Inc., a company organized under the laws of the Province of Quebec,
Canada (“DiagnoCure”). Capitalized terms used but not defined herein shall have the meanings set
forth in the Agreement.

Recitals

     A. The parties entered into the Agreement as of November 19, 2003 pursuant to which, among
other things, the parties described their respective rights and obligations with respect to the
development, manufacture, marketing and distribution of Licensed Products for the detection and
measurement of PCA3 as a marker for prostate cancer. The Agreement was previously amended on May
24, 2006 (“Amendment No. 1”).

     B. Pursuant to the Agreement, Gen-Probe has commenced development of an in vitro diagnostic
test kit for the detection and measurement of PCA3 as a marker for prostate cancer.

     C. The parties desire to clarify and/or modify certain aspects of their relationship pursuant
to the Agreement, in the manner set forth in this Amendment No. 2.

Agreement

     NOW, THEREFORE, for and in consideration of the mutual covenants and agreements set forth in
this Amendment No. 2, the parties hereby agree to amend the Agreement as follows:

     1. Unless otherwise stated herein, all capitalized terms shall have the meaning set forth in
the Agreement.

     2. Section 1.31 of the Agreement shall be deleted and replaced in its entirety by the
following:

     1.31 “Net Sales” shall mean the aggregate amount of revenue in U.S.
Dollars (converted as necessary for sales made in a currency other than U.S. Dollars
into U.S. Dollars at the applicable Exchange Rate) realized by Gen-Probe or its
Affiliates or its or their respective sublicensees or distributors from End Users
for any Licensed Product sold or otherwise disposed of, or Licensed
Methods practiced, for consideration less only the allowable deductions set forth in
subsections (a) through (c) below (and Gen-Probe shall ensure that all sales and
other dispositions of the Licensed Products in any country shall be by Gen-Probe or
its Affiliates or its or their respective sublicensees or distributors directly to
End Users); provided, however, in any country of the world that is not a
Major Country (as defined below in this Section) where it is not commercially
feasible

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for Gen-Probe to have a direct sales force or a sublicensee and where Gen-Probe has
a contract with a distributor for the sale of Licensed Product in such non-Major
Country as specified in such contract (such distributor, an “Authorized
Distributor,” such country, a “Distributor Country” and such contract, a
“Distributor Contract”), “Net Sales” shall mean the aggregate amount of revenue in
U.S. Dollars (converted as necessary for sales made in a currency other than U.S.
Dollars into U.S. Dollars at the applicable Exchange Rate) realized by Gen-Probe or
its Affiliates for any Licensed Product sold or otherwise disposed of, or any
Licensed Methods practiced, in such Distributor Country (less only the allowable
deductions set forth in subsections (a) through (c) below), and shall not mean
revenue based upon End User pricing for such Licensed Product (unless such
Licensed Product was not sold or otherwise disposed of by the Authorized Distributor
for such Distributor Country under the applicable Distributor Contract, in which
event, this proviso shall not apply and the sale or other disposition of such
Licensed Product in such Distributor Country shall be treated in the same manner as
it would be treated in any country that is not a Distributor Country and mean
revenue based upon End User pricing). For purposes of this Section, “Major Country”
shall mean (i) [...***...], and/or (ii) [...***...] (A) in which any Licensed
Product is sold or otherwise disposed of, or any Licensed Methods are practiced, by
or though Gen-Probe or any of its Affiliates, or any of its or their respective
sublicensees or distributors and which sublicensee or distributor (or any of their
respective Affiliates) has its primary place of business in [...***...], and/or (B)
from which any Licensed Product is distributed, sold or otherwise disposed of by
Gen-Probe or any of its Affiliates or any of its or their respective sublicensees or
distributors into [...***...].

For any Licensed Product sold or otherwise disposed of, or Licensed Methods
practiced, for consideration other than cash, the revenue from each such Licensed
Product shall be deemed to be the average price charged for identical or similar
(after reasonable adjustments) Licensed Products sold or Licensed Methods practiced
by Gen-Probe or its Affiliates during the same royalty period in “arms-length”
transactions.

The following deductions shall be permitted to the extent customary and actually
taken and allowed in the applicable country, and, in each case, as determined and
allocated in accordance with U.S. generally accepted accounting principles,
consistently applied (GAAP) (and, in each case, solely to the extent such deduction
is directly related to a sale of a Licensed Product in the applicable country where
such sale was made):

          (a) customary credits and allowances granted by Gen-Probe and its Affiliates
(if any) for such Licensed Products on account of refunds, price

			
	 	 	 
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reductions, price discounts or rebates, whether arising out of recalls, rejections,
returns or otherwise relating to Licensed Products sold during or prior to such
royalty period (and for which royalties were previously paid to DiagnoCure
hereunder);

          (b) excise taxes, sales taxes, value added taxes, consumption taxes, customs
duties and other taxes or duties (excluding income taxes or franchise taxes) imposed
with respect to such Licensed Products; and

          (c) transportation charges (including packing, insurance, and freight costs)
actually incurred by Gen-Probe or its Affiliate in connection with the sales of such
Licensed Products.

     3. A new Section 3.2.5 shall be added to the Agreement as follows:

          3.2.5 Gen-Probe shall supply Gen-Probe’s current TMA PCA3 ASR product to
DiagnoCure until the date on which the FDA approves a Gen-Probe in vitro diagnostic
test for PCA3. Gen-Probe shall supply the current TMA PCA3 ASR product to
DiagnoCure on commercial terms [...***...]. Gen-Probe hereby grants DiagnoCure an
option to a sublicense to develop, make, have made, use, sell, offer for sale and
import Licensed Products intended for use as laboratory developed tests within
DiagnoCure’s or its Affiliate’s laboratories in the United States. Such option to a
sublicense shall only be exercisable by DiagnoCure if [...***...] and, as a result,
[...***...] (in which event, upon exercise of the option by DiagnoCure upon written
notice to Gen-Probe, DiagnoCure would have the right under the sublicense to develop
and commercialize the laboratory developed test and Gen-Probe would use its best
efforts to promptly grant such sublicense to DiagnoCure). The parties acknowledge
that, unless otherwise agreed by the parties, such option shall not include the
right for DiagnoCure to sell Licensed Products in the United States to Third Parties
for use in laboratories other than those laboratories owned by DiagnoCure and/or its
Affiliates.

     4. A new Section 4.1.6 shall be added to the Agreement as follows:

          4.1.6 Gen-Probe shall pay DiagnoCure Five Hundred Thousand U.S. Dollars
(US$500,000) on an annual basis, which payment shall be non-refundable and
non-cancelable and due and payable within ten (10) days of the Amendment Effective
Date for 2009, and shall be due and payable by [...***...] of each subsequent
calendar year. Subject to, and without limiting, Section 10.2.5, Gen-Probe shall
continue to pay this annual payment to DiagnoCure (A) until the earlier of (i) two
(2) years after Gen-Probe’s filing of an application with the FDA for regulatory
approval of a Licensed Product that is a TMA PCA3 assay

			
	 	 	 
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in the United States, (ii) FDA approval of a Licensed Product that is a PCA3 assay
in the United States, or (iii) the date on which DiagnoCure obtains co-exclusive
rights pursuant to Section 10.2.4; and (B) if applicable, as set forth in Section
10.2.5. Fifty percent (50%) of each such annual payment (e.g., US$250,000) (each, a
“Permitted Deduction Amount”) may be deducted by Gen-Probe against future royalties
due and payable to DiagnoCure by Gen-Probe pursuant to Section 4.2. Solely during
the period that Gen-Probe is deducting the Permitted Deduction Amounts, the royalty
payment thresholds shall be as set forth in the table below instead of as set forth
in Section 4.2(a). For the avoidance of doubt, upon Gen-Probe’s recoupment of the
Permitted Deduction Amounts as set forth herein, the provisions set out in the table
below shall no longer have any force or effect and the applicable royalty payment
thresholds shall again be those set forth in Section 4.2(a).

	 	 	 	 	 
	Permitted Deduction Amounts 	 	Royalty thresholds	 	Royalty thresholds for 
	deductible from future 	 	for 8% annual	 	16% annual  royalties on
	 royalties	 	royalties on Net Sales	 	 Net Sales of Licensed
	(by way of example)	 	of Licensed Products	 	Products
	If there is one
Permitted Deduction
Amount equal to
US$250,000
	 	Up to US$53.125
million in cumulative
Net Sales
	 	In excess of
US$53.125 million in
cumulative Net Sales
	 	 	 	 	 
	If there are two
Permitted Deduction
Amounts, each equal
to US$250,000
	 	Up to US$56.25
million in cumulative
Net Sales
	 	In excess of US$56.25
million in cumulative
Net Sales
	 	 	 	 	 
	If there are three
Permitted Deduction
Amounts, each equal
to US$250,000
	 	Up to US$59.375
million in cumulative
Net Sales
	 	In excess of
US$59.375 million in
cumulative Net Sales

     5. A new Section 4.5 shall be added to the Agreement as follows:

               4.5 Preferred Stock.

          (a) Issuance of Shares. Within fifteen (15) days after the Amendment
Effective Date (the “Closing Date”), Gen-Probe shall purchase Four Million Nine
Hundred Thousand (4,900,000) shares of DiagnoCure Series A convertible preferred
 shares of DiagnoCure for an aggregate purchase price of Five Million U.S. Dollars
(US$5,000,000) (the “Original Purchase Price”), no par value (the “Series A
Preferred”).

          (b) Conversion. Each share of the Series A Preferred shall initially
be convertible into one share of DiagnoCure’s common stock (the “Common Shares”).
The conversion rate will be subject to adjustment for dilutive issuances as provided
below. The Series A Preferred shares may be converted in whole or in part, at
Gen-Probe’s option.

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          (c) Conversion Price. The conversion price of the Series A Preferred
shall be subject to proportional adjustment for stock splits, stock dividends and
the like.

          (d) Protective Provisions. For so long as any shares of Series A
Preferred remain outstanding, consent of the holders of a majority of the Series A
Preferred shall be required for any action (by merger, reclassification or
otherwise) that (i) alters or changes the rights, preferences or privileges of the
Series A Preferred, or (ii) amends or waives any provision of the Company’s
Certificate of Incorporation or Bylaws in a manner adverse to the holders of the
Series A Preferred.

          (e) Dividends. The holders of the Series A Preferred shall be entitled
to receive non-cumulative dividends in preference to any dividend on the Common
Shares at the rate of six percent (6%) of the sum of the Original Purchase Price
plus any declared but unpaid dividends, when, as and if declared by DiagnoCure’s
Board of Directors.

          (f) Liquidation Preference. In the event of any liquidation or winding
up of DiagnoCure, DiagnoCure shall pay to the holders of the Series A Preferred
 shares a per share amount equal to the sum of the Original Purchase Price per share
then outstanding plus any declared but unpaid dividends (the “Liquidation
Preference”). The Liquidation Preference shall be paid to Gen-Probe in preference
to any payments to the holders of the Common Shares (and any other preferred shares
that may be issued after the Closing Date). DiagnoCure’s Certificate of
Incorporation or Certificate of Designation for the Series A Preferred shall provide
that in the event of any liquidation or winding up of DiagnoCure, the holders of the
Series A Preferred shares shall be entitled to receive at least twenty (20) days
prior written notice of such event in order that the holders may elect to receive
the Liquidation Preference or, alternatively, convert the Series A Preferred shares
into Common Shares prior to or upon such event. A merger, acquisition, sale of
voting control or sale or other disposition of substantially all of the assets of
DiagnoCure in which the shareholders of DiagnoCure do not own a majority of the
outstanding shares of the surviving corporation shall be treated as a liquidation.

          (g) Registered Shares. The Common Shares issued upon conversion of the
Series A Preferred shares will be freely tradable upon issuance. In the event any
applicable law requires registration, DiagnoCure shall use diligent efforts to
provide such registration.

          (h) Automatic Conversion. After the twelve (12) month anniversary of
the Closing Date, if DiagnoCure’s Common Shares trade at CAD $2.50 or more per share
for a minimum consecutive trading period of thirty (30) days (the “Minimum Trading
Period”), then DiagnoCure shall have the right to require a conversion of the Series
A Preferred shares into Common Shares at the then applicable Conversion Rate, upon
delivery of a written notice to Gen-Probe at least five (5) business days prior to
the intended consummation date of such conversion.

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          (i) Redemption Right. Prior to receipt by DiagnoCure of a notice from
Gen-Probe (or a subsequent holder of the Series A Preferred shares) that Gen-Probe
(or such subsequent holder) has exercised its right of conversion, DiagnoCure shall
have the right to redeem any or all of the then-outstanding Series A Preferred
 shares, by paying to the holder the greater of (i) the Original Purchase Price of
such shares plus interest at six percent (6%) per annum from the date of issue, or
(ii) the fair market value of the Common Shares that would be issued upon immediate
conversion.

          (j) Share Purchase Agreement. The investment shall be made pursuant to
a Share Purchase Agreement governed by Quebec law and which is reasonably acceptable
to DiagnoCure and Gen-Probe and which shall contain, among other things, appropriate
representations and warranties of DiagnoCure, reflecting the provisions set forth in
this Section 4.5 summary of terms and appropriate closing conditions, including an
opinion of counsel for DiagnoCure under Quebec law.

     6. A new Section 4.6 shall be added to the Agreement as follows:

     4.6 Security Interest. In consideration of Gen-Probe entering into and
continuing its performance under this Agreement and agreeing to purchase the Series
A Preferred shares, DiagnoCure shall enter into a movable hypothec agreement (the
“Movable Hypothec Agreement”) pursuant to the laws of the Province of Quebec,
substantially in the form attached hereto as Schedule 4, and an intellectual
property security agreement (the “Intellectual Property Security Agreement”),
substantially in the form attached hereto as Schedule 5, to provide Gen-Probe with a
first ranking movable hypothec and security interest, respectively, in all of
DiagnoCure’s right, title and interest in the Collateral (as defined in the Movable
Hypothec Agreement) to secure the payment of the Liquidation Preference pursuant to
Section 4.5(f) of this Agreement, subject to and as set forth in the Movable
Hypothec Agreement and the Intellectual Property Security Agreement. DiagnoCure
shall file or cause to be filed such Movable Hypothec Agreement, Intellectual
Property Security Agreement, financing statements and/or other appropriate
documents, with the appropriate filing offices in the United States and Canada,
including the Register of Personal and Movable Real Rights (Quebec), the Canadian
Intellectual Property Office, the United States Patent and Trademark Office, and the
District of Columbia Recorder of Deeds, as applicable, in order to register or
record such movable hypothec and security interest promptly after the execution of,
and as set forth in, such Movable Hypothec Agreement and Intellectual Property
Security Agreement, respectively. In the event DiagnoCure fails to do so, and to
the extent necessary, DiagnoCure appoints Gen-Probe its attorney in fact to make
such filings and authorizes Gen-Probe to make such filings. The Collateral shall at
all times be free and clear of all hypothecs, pledges, assignments, security
interests and other liens or similar types of encumbrances save and except for
security created pursuant to the Movable Hypothec Agreement and the Intellectual
Property Security Agreement. The hypothecary rights and other remedies Gen-Probe
may have as secured

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creditor against the Collateral pursuant to the Movable Hypothec Agreement and the
Intellectual Property Security Agreement or under applicable laws, shall become
enforceable only upon the occurrence of an Event of Default (as defined in the
Movable Hypothec Agreement).

The movable hypothec and security interest granted in the Collateral by the Movable
Hypothec Agreement and the Intellectual Property Security Agreement shall
automatically and immediately terminate, and Gen-Probe shall sign such documents and
take such actions as may be reasonably requested by DiagnoCure to evidence,
implement, effect and record the termination and release of the movable hypothec and
security interest, (i) upon DiagnoCure obtaining a co-exclusive license right under
Sections 10.2.4 or 10.2.5, or (ii) upon Gen-Probe having received, in consideration
for the sale, transfer or other disposition of any Series A Preferred shares or
Common Shares acquired hereunder, at least [...***...] of the sum of the Original
Purchase Price plus any declared but unpaid dividends (including, without
limitation, pursuant to DiagnoCure’s exercise of its redemption rights pursuant to
Section 4.5(i) or through a sale to any other person or entity), or (iii) if
Gen-Probe receives, in consideration for the sale, transfer or other disposition of
any Series A Preferred shares or Common Shares acquired hereunder, an amount that is
less than [...***...] of the sum of the Original Purchase Price plus any declared
but unpaid dividends (the “Actual Amount”), upon DiagnoCure’s payment to Gen-Probe
of (A) if such sale, transfer or other disposition was to a Third Party pursuant to
an “arms-length” transaction, an amount equal to the difference between (x) the
Actual Amount received by Gen-Probe in consideration for such sale, transfer or
other disposition of such Series A Preferred shares or Common Shares acquired
hereunder, and (y) [...***...] of the sum of the Original Purchase Price plus any
declared but unpaid dividends, or (B) if such sale, transfer or other disposition
was not to a Third Party pursuant to an “arms-length” transaction, an amount equal
to the difference between (x) the amount Gen-Probe would have received in
consideration for such sale, transfer or other disposition of such Series A
Preferred shares or Common Shares acquired hereunder to a Third Party pursuant to an
“arms-length” transaction, and (y) [...***...] of the sum of the Original Purchase
Price plus any declared but unpaid dividends.

Upon request by Gen-Probe, DiagnoCure shall use its reasonable commercial efforts to
obtain consent to DiagnoCure’s execution of the Movable Hypothec Agreement and the
Intellectual Property Security Agreement by the licensors of the Patent Licenses
included within the Collateral; provided that the parties acknowledge and
agree that DiagnoCure may not be able to obtain such consent(s) from such licensors.

     7. Section 6.1.1 of the Agreement shall be amended to add the following sentence
immediately after the first sentence of Section 6.1.1:

			
	 	 	 
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At least one of the three representatives of each party shall be the
Chief Financial Officer of such party or such person’s designee.

     8. A new Section 6.1.2 shall be added to the Agreement, providing as follows:

          6.1.2 Each quarterly meeting of the Marketing and Clinical Trial Subcommittee
of the Joint Advisory Committee shall include a presentation by Gen-Probe of current
information regarding: (i) Gen-Probe’s strategy concerning [...***...]; and (ii)
Gen-Probe’s current research and development activities concerning [...***...].

     9. Section 10.2 of the Agreement shall be deleted and replaced in its entirety by the
following:

     10.2 Gen-Probe Diligence Obligations. Gen-Probe shall, at its own
cost, comply with each of the following:

          10.2.1 Gen-Probe shall use its commercially reasonable efforts to obtain FDA
approval of the Licensed Product that is the current end-point TMA assay for PCA3
and prostate specific antigen (PSA) (and Gen-Probe shall create a commercially
reasonable development plan therefor and shall provide at least quarterly updates to
DiagnoCure with respect thereto (and as may be reasonably requested by DiagnoCure
from time to time));

          10.2.2 Gen-Probe shall use its commercially reasonable efforts to obtain FDA
approval of a Licensed Product that is the real-time TMA PCA3 assay which shall run
on the Panther instrument (and Gen-Probe shall create a commercially reasonable
development plan therefor and shall provide at least quarterly updates to DiagnoCure
with respect thereto (and as may be reasonably requested by DiagnoCure from time to
time)); and

          10.2.3 In any event, Gen-Probe shall file an application with the FDA for
regulatory approval of a Licensed Product that is a TMA PCA3 assay in the United
States by [...***...] (the “Milestone Date”).

          10.2.4 If Gen-Probe (A) fails to comply with its obligations under Sections
10.2.1 through 10.2.3, or (B) fails to notify DiagnoCure of its election pursuant to
Section 10.2.5 within the time period specified therein, or (C) fails to pay
DiagnoCure the minimum annual payments of Five Hundred Thousand U.S. Dollars
(US$500,000) as set forth in Section 4.1.6 and/or Section 10.2.5 (and fails to cure
any such failure within [...***...] after receipt of written notice thereof from
DiagnoCure) (notwithstanding anything contained herein, the foregoing shall be in
addition to, and shall not limit, DiagnoCure’s rights and

			
	 	 	 
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remedies under this Agreement for any late payment), or (D) elects pursuant to
Section 10.2.5 for DiagnoCure to obtain a co-exclusive license in the United States,
then, as DiagnoCure’s sole remedy, Gen-Probe’s license under this Agreement shall
automatically and immediately convert to a co-exclusive (with DiagnoCure) license in
the United States. DiagnoCure shall not have the right to grant a sublicense to any
Third Party under such co-exclusive sublicense (but may grant a sublicense to an
Affiliate that is directly or indirectly wholly owned by DiagnoCure) nor to serve as
a foundry for a Third Party (i.e., manufacture products in bulk on an OEM basis for
sale by the Third Party under the trademarks of the Third Party). Without
Gen-Probe’s prior written consent (such consent not to be unreasonably withheld or
delayed), DiagnoCure shall not have the right to assign its license (other than in
connection with an assignment of this Agreement as permitted under Section 17.3).

          10.2.5 If Gen-Probe has not obtained FDA approval of a Licensed Product that is
a TMA PCA3 assay in the United States by [...***...], then Gen-Probe shall, within
[...***...], elect one of the following and so notify DiagnoCure in writing of its
election: (A) to continue the minimum annual payments of Five Hundred Thousand U.S.
Dollars (US$500,000) (which Gen-Probe shall pay to DiagnoCure in the same manner as
set out in Section 4.1.6 (i.e., on an annual basis, by [...***...] of each calendar
year) until the earlier of the date on which (i) FDA approval of a Licensed Product
that is a PCA3 assay in the United States, or (ii) the DiagnoCure Patent Rights have
fully expired in the United States; or (B) that DiagnoCure shall obtain a
co-exclusive license in the United States on the terms set forth in Section 10.2.4.

     10. Section 17.3 of the Agreement shall be deleted and replaced in its entirety by the
following:

     17.3 Assignment. Neither party shall assign its rights or obligations
under this Agreement, and DiagnoCure shall not transfer or assign the DiagnoCure
Patent Rights, without the prior written consent of the other party;
provided, however, that (A) DiagnoCure may, without the consent of
Gen-Probe, assign this Agreement and its rights and obligations hereunder, and/or
any of the DiagnoCure Patent Rights, to any Affiliate that is directly or indirectly
wholly owned by DiagnoCure, and/or (B) either party may, without such consent,
assign this Agreement and its rights and obligations hereunder, and DiagnoCure may
transfer or assign the DiagnoCure Patent Rights, in connection with the transfer or
sale of all or substantially all of its business related to this Agreement, or in
the event of its merger, consolidation, change in control or similar transaction.
Any permitted assignee shall assume all obligations of its assignor under this
Agreement.

     11. The Agreement is hereby amended to add a Schedule 4 to the Agreement, which is attached
hereto as Exhibit A.

			
	 	 	 
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     12. The Agreement is hereby amended to add a Schedule 5 to the Agreement, which is attached
hereto as Exhibit B.

     13. For the avoidance of doubt, Paragraphs 8 through 10 of Amendment No. 1 shall have no
further force or effect and are superseded by this Amendment No. 2.

     14. Except as is expressly set forth in this Amendment No. 2, all other terms and conditions
of the Agreement shall continue in full force and effect.

     15. This Amendment No. 2 may be executed in counterparts, each of which shall be an original,
and all of which together shall constitute one and the same instrument.

* * * * *

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     IN WITNESS WHEREOF, the parties have caused this Amendment No. 2 to be executed and the
persons signing below warrant that they are duly authorized to sign for and on behalf of the
respective parties.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GEN-PROBE INCORPORATED	 	 	 	DIAGNOCURE, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:	 	/s/ Henry L. Nordhoff	 	 	 	By:	 	/s/ Jean-Francois Bureau	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	Henry L. Nordhoff
	 	 	 	 	 	Name:
	 	Jean-Francois Bureau	 	 
	 

	 	Title:
	 	Chief Executive Officer
	 	 	 	 	 	Title:
	 	Senior Vice President &
Chief Financial
 Officer	 	 

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EXHIBIT A to Amendment No. 2

SCHEDULE 4

Form of Movable Hypothec Agreement

[Intentionally Omitted]

12

 

SCHEDULE 5

Form of Intellectual Property Security Agreement

[Intentionally Omitted]

13exv10w100

Exhibit 10.100

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

Originally Effective February 13, 2007

First Amendment Effective March 1, 2008

Second Amendment and Restatement Effective October 31, 2008

Third Amendment and Restatement Effective May 18, 2009

          THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made by and between Gen-Probe Incorporated, a
Delaware corporation with offices at 10210 Genetic Center Drive, San Diego, California 92121
(“Gen-Probe”), and Carl W. Hull (the “Executive”).

          The parties hereto agree as follows:

	1.	 	Amendment and Restatement of Employment Agreement. The Employment Agreement between
Gen-Probe and Executive dated February 12, 2007, as previously amended as of March 1, 2008 and
October 31, 2008, is hereby amended and restated as set forth herein as of May 18, 2009 (the
“Amendment Effective Date”).

	 
	2.	 	Term of Employment. This Agreement shall be immediately effective. This Agreement,
and Executive’s employment hereunder, shall be for a term of three years from May 18, 2009.
At any time during the term of this Agreement, either party may terminate this Agreement, and
Executive’s employment, in accordance with the provision of Sections 7 and 8 of this
Agreement.

	 
	3.	 	Position and Duties. The Executive shall serve as President and Chief Operating
Officer of Gen-Probe until May 18, 2009, on which date the Executive shall be appointed as
President and Chief Executive Officer of Gen-Probe. The Executive shall have responsibilities
and authority commensurate with his position. The Board of Directors may from time to time
particularly specify the Executive’s duties and authority. The Executive shall not engage in
or perform duties for any other persons or entities that interfere with the performance of his
duties hereunder. Executive’s participation on the board of directors of any “for profit”
organization will be subject to approval by the Board of Directors of Gen-Probe.

	 
	4.	 	Salary, Bonus and Benefits.

	 	(a)	 	Salary. Commencing May 18, 2009, Gen-Probe shall pay Executive an
annual base salary of $635,000. Executive’s base salary may be increased by the
Compensation Committee of the Board, subject to the terms of this Agreement and
consistent with the Executive’s performance and Gen-Probe’s policy regarding
adjustments in officer compensation established from time to time by the Compensation
Committee. The base salary shall not be decreased during the term of this Agreement.

1

 

	 	(b)	 	Bonus. In addition, at the discretion of the Compensation Committee, the
Executive will be awarded incentive compensation, in the form of a cash bonus for
each fiscal year during his employment, based upon performance. Executive’s target
bonus shall be seventy-five percent (75%) of his base salary; however, the actual
bonus shall be set at the discretion of the Compensation Committee, subject to the
terms of such bonus plans as Gen-Probe may adopt from time-to-time.

	 
	 	(c)	 	Stock Options/Restricted Stock. In addition, Executive may be awarded
stock options, restricted stock awards and other equity compensation awards by
Gen-Probe’s Compensation Committee, with such terms and conditions as the Compensation
Committee may determine in its sole discretion.

	 
	 	(d)	 	Life Insurance. Gen-Probe will obtain and pay for a term life
insurance policy providing for payment of $1,000,000 in benefits to the Executive’s
designated beneficiaries should the Executive die during the term of this Agreement.
This policy shall be in addition to any coverage provided by Gen-Probe’s group life
insurance plan pursuant to subsection (g), below.

	 
	 	(e)	 	Disability Insurance. Gen-Probe will obtain and pay for a long-term
disability insurance policy providing for payment at a rate of no less than $200,000
per annum to Executive should Executive suffer a long-term disability during the term
of this Agreement. This policy shall be in addition to any coverage provided by
Gen-Probe’s group disability insurance plan pursuant to subsection (g), below.

	 
	 	(f)	 	AD& D Insurance. Gen-Probe will obtain and pay for an AD&D insurance
policy providing for a benefit to Executive (or his beneficiaries) of $400,000
(airplane) or $200,000 (automobile or walking) should Executive suffer accidental death
or accidental disability during the term of this Agreement.

	 
	 	(g)	 	Other Benefits. The Executive shall be entitled to participate in the
employee benefit programs (including but not limited to medical, dental, life and
disability insurance, 401(k) retirement plan, and vacation program), as adopted and
maintained by Gen-Probe. Gen-Probe shall reimburse the Executive for reasonable
attorney’s fees incurred in connection with this Agreement, in an amount not in excess
of $5,000. The Executive may receive such other and additional benefits as the
Compensation Committee or Board may determine from time to time in its sole discretion.

	5.	 	Expense Reimbursement. The Executive shall be entitled to receive prompt
reimbursement for all reasonable and customary expenses incurred by him in performing services
hereunder, including all expenses of travel and living expenses while away from home on
business or at the request of, and in the service of Gen-Probe; provided, that such expenses
are incurred and accounted for in accordance with the policies and procedures established by
Gen-Probe. To the extent that reimbursements made pursuant to this Agreement, including under
Section 8(c), are subject to the provisions of Section 409A of the Internal Revenue Code of
1986, as amended (the “Code”), (a) the reimbursement shall be made no later than December 31
of the calendar year following the year in which the expense was incurred, (b) the amount of
expenses reimbursed in

2

 

	 	 	one year shall not affect the amount eligible for reimbursement in any subsequent year, and
(c) the Executive’s right to reimbursement under this Section 5 will not be subject to
liquidation or exchange for another benefit.

	 
	6.	 	Indemnification. Gen-Probe shall indemnify the Executive to the maximum extent
permitted by law, by the by-laws of Gen-Probe and by the Indemnification Agreement dated
February 13, 2007, between the Executive and Gen-Probe, as it may be amended (the
“Indemnification Agreement”), if the Executive is made a party, or threatened to be made a
party, to any threatened or pending legal action, suit or proceeding, whether civil, criminal,
administrative or investigative, by reason of the fact that the Executive is or was an
officer, director or employee of Gen-Probe or any subsidiary or affiliate thereof, in which
capacity the Executive is or was serving at Gen-Probe’s request, against reasonable expenses
(including reasonable attorneys’ fees), judgments, fines and settlement payments incurred by
him in connection with such action, suit or proceeding.

	 
	7.	 	Termination. The Executive may terminate his employment hereunder at any time, with
or without Good Reason (as defined below) upon written notice to Gen-Probe. If Executive
contends that Good Reason exists for his termination, such notice shall specifically and
expressly state the grounds which he contends constitute Good Reason. Gen-Probe may terminate
the Executive’s employment hereunder at any time, subject to the terms of this Agreement, with
or without Cause (as defined below) upon written notice to the Executive. If this Agreement
is terminated, all compensation and benefits other than severance benefits described in
Section 8 below, to the extent applicable, shall immediately cease, except that the Executive
will be entitled, through the date of termination, to payment of his salary and benefits under
Gen-Probe benefit programs and plans in accordance with their terms.

	 
	 	 	As used in this Agreement, “Good Reason” shall mean any of the following events that are not
consented to in writing by the Executive: (i) the removal of the Executive from his
position as President and Chief Executive Officer; (ii) a substantial and material
diminution in the Executive’s duties and responsibilities hereunder; (iii) a reduction of
the Executive’s base salary or target bonus percentage by 10% or greater; (iv) the location
of the Executive’s assignment on behalf of Gen-Probe is moved to a location more than 30
miles from its present location; (v) the failure of Gen-Probe to obtain a satisfactory
agreement from any successor to Gen-Probe to assume and agree to perform this Agreement; or
(vi) a material breach by Gen-Probe of its obligations under this Agreement after notice in
writing from the Executive within 30 days of the occurrence of the applicable event and a
reasonable opportunity over a 30-day period for Gen-Probe to cure or substantially mitigate
any material adverse effect of such breach and provided that the Executive’s termination
occurs within six (6) months following the date of occurrence of the applicable event. The
Executive’s consent to any event which would otherwise constitute Good Reason shall be
conclusively presumed if the Executive does not exercise his rights to terminate this
Agreement for Good Reason under this section within six (6) months of notice of the event.

	 
	 	 	As used in this Agreement, “Cause” shall mean any of the following events: (i) any act of
gross or willful misconduct, fraud, misappropriation, dishonesty, embezzlement or

3

 

	 	 	similar conduct on the part of Executive; (ii) the Executive’s conviction of a felony or any
crime involving moral turpitude (which conviction, due to the passage of time or otherwise,
is not subject to further appeal); (iii) the Executive’s misuse or abuse of alcohol, drugs
or controlled substances and failure to seek and comply with appropriate treatment; (iv)
willful and continued failure by the Executive to substantially perform his duties under
this Agreement (other than any failure resulting from disability or from termination by the
Executive for Good Reason) as determined by a majority of the Board after written demand
from the Board of Directors for substantial performance is delivered to the Executive, and
the Executive fails to resume substantial performance of his duties on a continuous basis
within 30 days of such notice; (v) the death of the Executive; or (vi) the Executive
becoming disabled such that he is not able to perform his usual duties for Gen-Probe for a
period in excess of six (6) consecutive calendar months.

	 
	8.	 	Severance Benefits in Certain Events. If Gen-Probe terminates the Executive’s
employment for reasons other than Cause, or if the Executive terminates his employment for
Good Reason, and such termination constitutes a “separation from service” within the meaning
of Treasury Regulation Section 1.409A-1(h) (a “Separation from Service”), the Executive shall
be entitled to receive the following severance benefits:

	 	(a)	 	Salary.

	 
	 	 	 	(i)     Unless the Executive’s termination under this Section 8 occurs within eighteen
(18) months after a Change in Control (as defined below), the Executive shall
continue to receive his base salary, at the rate in effect at the time of his
termination of employment, in monthly installments following termination and
continuing for an aggregate period of twenty-four (24) months (the “Salary
Continuation Period”), except that any and all payments that would otherwise have
been made before the sixtieth (60th) day after the date of Executive’s Separation
from Service (the “First Payment Date”) shall be made on the First Payment Date.

	 
	 	 	 	(ii)     If the Executive’s termination under this Section 8 occurs in connection with a
Change in Control, then the Executive shall receive a lump sum payment as described
in this Section 8(a)(ii).

	 	a.	 	If the termination occurs within the six (6)
months prior to a Change in Control, the amount of the lump sum
payment pursuant to this Section 8(a)(ii) shall be equal to twelve (12)
months’ base salary (and shall be in addition to the
twenty-four (24) month installment payments described in Section
8(a)(i));

4

 

	 	b.	 	If the termination occurs within eighteen (18) months after a
Change in Control, the amount of the lump sum payment pursuant to this
Section 8(a)(ii) shall be equal to thirty-six (36) months’ base salary
(and shall be in lieu of any payment under Section 8(a)(i)).

	 	 	 	The lump sum payment will be payable on the date that is the later of (A) five (5)
days after the Change in Control, or (B) sixty (60) days after the date of the
Separation from Service.

	 
	 	 	 	For purposes of this Agreement, “Change in Control” shall have the meaning set forth
on Attachment “1” to this Agreement (hereby incorporated by reference). A
termination shall be “in connection with” a Change in Control if the termination
occurs within the period six (6) months prior to or eighteen (18) months after a
Change in Control (and in the event that the termination occurs during the six (6)
months prior to a Change in Control, subject to the consummation of the Change in
Control).

	 
	 	(b)	 	Bonus. The Executive shall be entitled to receive a pro rata portion
of the Bonus Agreement Amount (as defined on Attachment “1” to this Agreement) for the
year in which his employment terminates and this amount shall be paid in a lump sum on
the First Payment Date. Unless the Executive’s termination under this Section 8 occurs
within eighteen (18) months after a Change in Control, the Executive shall be entitled
to receive, in addition to the salary payments described in subsection (a)(i) above and
the pro rata Bonus Agreement Amount payment described in the first sentence of this
subsection (b), an amount equal to two times the Executive’s Bonus Agreement Amount for
the year of the termination (which shall be paid in the same manner as and on the same
schedule as the salary compensation paid under subsection (a)(i) above). If the
termination under this Section 8 occurs in connection with a Change in Control, then
the Executive shall be entitled to receive, in addition to the salary payments
described in subsection (a)(ii) above and the pro rata Bonus Agreement Amount payment
described in the first sentence of this subsection (b), an amount equal to three times
the Executive’s Bonus Agreement Amount for the year of the termination (or one times
the Executive’s Bonus Agreement Amount for the year of the termination if the
termination occurs within the six (6) months prior to a Change in Control, which shall
be in addition to the payments described in subsection (a)(ii) above)); the Bonus
Agreement Amount payment pursuant to this sentence shall be paid in a lump sum at the
same time as the salary compensation paid under subsection (a)(ii) above.

	 
	 	(c)	 	Health Care and Life Insurance Coverage. Continued health care
coverage under Gen-Probe’s medical plan will be provided, without charge, to the
Executive and his eligible dependents until the earlier of (i) one (1) year following
the termination date or (ii) the first date that the Executive is covered under another
employer’s health benefit program providing substantially the same or better benefit
options to the Executive without exclusion for any pre-existing medical condition. The
period of time medical coverage continues under this

5

 

	 	 	 	agreement will be counted as coverage time under COBRA. Gen-Probe will pay the
premium for continued life insurance coverage, if any, that the Executive may have
elected under Gen-Probe’s Life Insurance and Supplemental Life Insurance plan,
subject to payment by the Executive of the portion of such premium not contributed
by Gen-Probe under such plan, during the Salary Continuation Period.

	 
	 	(d)	 	Outplacement Services. Gen-Probe agrees to provide Executive with
outplacement services during the first six months of the Salary Continuation Period at
a level not lower than the services provided to senior officers of Gen-Probe prior to
the Amendment Effective Date.

	 
	 	(e)	 	Tax Matters. All compensation described in this Agreement will be
subject to Gen-Probe’s collection of all applicable federal, state and local income and
employment withholding taxes.

	 
	 	(f)	 	Release of Claims. Gen-Probe’s obligation to make the payments and
provide the benefits hereunder shall be conditioned upon (i) Executive’s execution and
delivery to the Company of a release of all claims that he then may have other than
claims under Section 6 or the Indemnification Agreement, in standard form and content,
within fifty (50) days following the Executive’s Separation from Service and (ii) such
release shall not have been revoked by the Executive within any period permitted under
applicable law. The release shall be mutual and shall also be signed on behalf of
Gen-Probe.

	 
	 	(g)	 	Section 409A of the Internal Revenue Code and Specified Employees.
Notwithstanding any provision to the contrary in this Agreement, if Executive is deemed
by Gen-Probe at the time of his Separation from Service to be a “specified employee”
for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed
commencement of any portion of the benefits to which Executive is entitled under this
Agreement is required in order to avoid a prohibited distribution under Section
409A(a)(2)(B)(i) of the Code, such portion of Executive’s benefits shall not be
provided to Executive prior to the earlier of (i) the expiration of the six-month
period measured from the date of the Executive’s Separation from Service or (ii) the
date of Executive’s death. Upon the first business day following the expiration of the
applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this
Section 8(g) shall be paid in a lump sum to Executive (or the Executive’s estate or
beneficiaries), and any remaining payments due under the Agreement shall be paid as
otherwise provided herein. For purposes of Section 409A of the Code, Executive’s right
to receive the payments of compensation pursuant to the Agreement shall be treated as a
right to receive a series of separate payments and accordingly, each payment shall at
all times be considered a separate and distinct payment.

6

 

	9.	 	Treatment of Change in Control Payments.

	 	(a)	 	Determination of Payments. If it is determined that any payment or
distribution of any type to the Executive or for his benefit by Gen-Probe, any of its
affiliates, any person who acquires ownership or effective control of Gen-Probe or
ownership of a substantial portion of Gen-Probe’s assets (within the meaning of section
280G of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations
thereunder) or any affiliate of such person, whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise (the “Payments”),
would be subject to the excise tax imposed by section 4999 of the Code or any interest
or penalties with respect to such excise tax (such excise tax and any such interest or
penalties are collectively referred to as the “Excise Tax”), and if the Safe Harbor
Amount (as defined below) is greater than the Taxed Amount (as defined below), then
such Payments shall be reduced to the Safe Harbor Amount. The “Safe Harbor Amount”
shall be the largest portion of the Payments that would result in no portion of the
Payments being subject to the Excise Tax. The “Taxed Amount” is the total amount of
the Payments (prior to any reduction above), notwithstanding that all of some portion
of the Payments made be subject to the Excise Tax. Solely for the purpose of comparing
which of the Safe Harbor Amount and the Taxed Amount is greater, the determination of
each such amount, shall be made on an after-tax basis, taking into account all
applicable federal, state and local employment taxes, income taxes, and the Excise Tax,
all of which shall be computed at the highest applicable marginal rate. If a reduction
of the Payments to the Safe Harbor Amount is necessary, then the reduction shall occur
in a manner necessary to provide Executive with the greatest economic benefit. If more
than one manner of reduction of the Payments necessary to arrive at the Safe Harbor
Amount yields the greatest economic benefit to Executive, the components of the
Payments shall be reduced pro rata.

	 
	 	(b)	 	Determination by Accounting Firm. All determinations and calculations
required to be made under this Section 9 shall be made by an independent accounting
firm selected by Executive from among the largest four (4) accounting firms in the
United States (the “Accounting Firm”). The Accounting Firm engaged to make the
determinations hereunder shall provide its calculations, together with detailed
supporting documentation, to the Company and Executive within five (5) calendar days
after the date on which Executive’s right to any of the Total Payments is triggered (if
requested at that time by the Company or the Executive) or such other time as
reasonably requested by the Company or the Executive. If the Accounting Firm
determines that no Excise Tax is payable with respect to any of the Total Payments,
either before or after the application of the Reduced Amount, it shall furnish the
Company and the Executive with an opinion reasonably acceptable to the Executive that
no Excise Tax will be imposed with respect to such Total Payments. Any good faith
determinations of the Accounting Firm made hereunder shall be binding upon the Company
and the Executive, absent manifest error. The Company shall bear the reasonable fees
and costs

7

 

	 	 	 	payable to the Accounting Firm with respect to the determinations by the Accounting
Firm required to be made hereunder.

	10.	 	Miscellaneous.

	 	(a)	 	Arbitration. Executive and Gen-Probe agree that any and all claims or
disputes that in any way relate to or arise out of Executive’s employment with
Gen-Probe or the termination of such employment (including but not limited to claims
under this Agreement or any other contract, tort claims, and statutory claims of
employment discrimination, retaliation or harassment) shall be resolved exclusively
through final and binding arbitration in San Diego, California. Executive and
Gen-Probe waive any rights to a jury trial in connection with such claims or disputes.
The costs of the arbitration, including the fees of the arbitrator, shall be borne
exclusively by Gen-Probe. Any such arbitration shall take place in San Diego,
California and shall be conducted by a single neutral arbitrator who shall be a retired
federal or state judge, to be appointed by the Judicial Arbitration & Mediation
Services, Inc. (“JAMS”) in accordance with JAMS rules. The applicable procedural rules
of JAMS shall govern the arbitration. The arbitrator’s decision shall be delivered in
writing and shall disclose the essential findings and conclusion on which the
arbitrator’s decision is based. The parties shall be permitted to conduct adequate
discovery to allow for a full and fair exploration of the issues in dispute in the
arbitration proceeding. The arbitrator may grant any relief which otherwise would have
been available to the parties in a court proceeding. The decision and award of the
arbitrator shall be final and binding, and judgment upon the arbitrator’s award may be
entered by any court of competent jurisdiction.

	 
	 	(b)	 	Governing Law. This Agreement shall be construed and enforced in
accordance with and be governed by the laws of the State of California.

	 
	 	(c)	 	Entire Agreement. This Agreement and the Indemnification Agreement and
all outstanding equity award agreements issued to the Executive set forth the entire
agreement and understanding between the Executive and Gen-Probe on the subject matter
hereof, and supersede any other negotiations, agreements, understandings, oral
agreements, representations and past or future practices, whether written or oral, on
the subject matter hereof. No provision of this Agreement may be amended,
supplemented, modified, cancelled, or discharged unless such amendment, supplement,
modification, cancellation or discharge is agreed to, in writing, signed by the
Executive and a duly authorized officer of Gen-Probe (other than the Executive); and no
provisions hereof may be waived, except in writing, so signed by or on behalf of the
party granting such waiver.

	 
	 	(d)	 	Validity. The invalidity or unenforceability of any provision or
provisions of this Agreement shall not affect the validity or enforceability of any
other provision of this Agreement, which shall remain in full force and effect.

	 
	 	(e)	 	Notices. For the purposes of this Agreement, notices, demands and all
other communications provided for in this Agreement shall be in writing and shall be

8

 

	 	 	 	deemed to have duly given when personally delivered or mailed by United States
certified or registered mail, return receipt requested, postage prepaid, addressed
as follows:

If to the Executive:

Carl W. Hull

[Intentionally Omitted]

With a copy to:

Carl W. Hull

President and Chief Executive Officer

Gen-Probe Incorporated

10210 Genetic Center Drive

San Diego, California 92121

If to Gen-Probe:

Senior Vice President, Human Resources

Gen-Probe Incorporated

10210 Genetic Center Drive

San Diego, California 92121

With a copy to:

General Counsel

Gen-Probe Incorporated

10210 Genetic Center Drive

San Diego, California 92121

	 	(f)	 	Successors. Gen-Probe will require any successor (whether direct or
indirect, by purchase, merger, consolidation or otherwise) to all or substantially all
the business and/or assets of Gen-Probe, by agreement in form and substance
satisfactory to the Executive, expressly to assume and agree to perform this Agreement
in the same manner and to the same extent that Gen-Probe would be required to perform
it if no such succession had taken place. This Agreement and all rights under the
Agreement shall be binding upon and shall inure to the benefit of and be enforceable by
the party’s personal or legal representatives, executors, administrators, heirs, and
successors.

9

 

	(g)	 	No Right to Continued Employment. Nothing herein shall be construed as
giving the Executive any rights to continued employment with Gen-Probe, and
Gen-Probe shall continue to have the right to terminate the Executive’s employment
at any time, with or without cause, subject to the provisions of this Agreement.

          In witness whereof, the parties have executed this Agreement as of the Amendment Effective
Date.

	 	 	 	 	 	 	 
	Executive:	 	Gen-Probe Incorporated:
	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	/s/ Carl W. Hull
	 	By	 	/s/ Diana De Walt
	 	 
	 
	 	 	 	 	 	 
	Carl W. Hull	 	Diana De Walt	 	 
	 	 	Senior Vice President, Human Resources
	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	By	 	/s/ R. William Bowen
	 	 
	 
	 	 	 	 	 	 
	 	 	R. William Bowen
	 	 
	 	 	Senior Vice President and General Counsel
	 	 

10

 

ATTACHMENT “1”

DEFINITION OF “CHANGE IN CONTROL”

“Change in Control” shall mean a change in ownership or control of Gen-Probe effected through
any of the following transactions:

     
     (a)     any person or related group of persons (other than Gen-Probe or a person that, prior to
such transaction, directly or indirectly controls, is controlled by, or is under common control
with, Gen-Probe) directly or indirectly acquires beneficial ownership (within the meaning of Rule
13d-3 under the Exchange Act) of securities possessing more than fifty percent (50%) of the total
combined voting power of Gen-Probe’s outstanding securities by means of any transaction or series
of transactions; or

     
     (b)     the replacement of a majority of the members of the Board during any twelve (12) month
period by directors whose appointment or election is not endorsed by a majority of the members of
the Board before the date of the appointment or election; or

     
     (c)     the consummation of a merger or consolidation of Gen-Probe with any other corporation (or
other entity), other than a merger or consolidation which would result in the voting securities of
Gen-Probe outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity or another entity)
fifty percent (50%) or more of the combined voting power of the voting securities of Gen-Probe or
such surviving entity outstanding immediately after such merger or consolidation; or

     
     (d)     the sale or disposition by Gen-Probe of all or substantially all of Gen-Probe’s assets.

DEFINITION OF “BONUS AGREEMENT AMOUNT”

“Bonus Agreement Amount” shall mean the greater of (i) $475,000 or (ii) the highest annual
bonus paid to the Executive under Section 4(b) for the three (3) year period ending prior to the
year in which the Executive’s Separation from Service occurs.

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