Document:

Exhibit 10.2

 

Vishay Intertechnology, Inc.

Restricted Stock Unit Agreement

THIS AGREEMENT, made as of the Grant Date, between Vishay Intertechnology, Inc. (the "Company") and the Participant.

RECITALS

The Company has adopted and maintains the Vishay Intertechnology, Inc. 2007 Stock Incentive Program, as amended and restated, (the "Program") to enhance the long-term performance of the Company and to provide selected individuals with an incentive to improve the growth and profitability of the Company by acquiring a proprietary interest in the success of the Company.

The Program provides that, with respect to Awards to members of the Board of Directors (the "Board") who are not Employees of the Company, the Board shall administer the Program, including the authority to determine the persons to whom awards will be granted and the amount and type of such awards.

The Board has determined that the purposes of the Program would be furthered by granting the Participant Restricted Stock Units as set forth in this Agreement.

The parties therefore agree as follows:

1. Grant Schedule.  Certain terms of the grant of Restricted Stock Units are set forth on the Grant Schedule that is attached to, and is a part of, this Agreement.

2. Grant of Restricted Stock Units.  Pursuant to, and subject to, the terms and conditions set forth herein and in the Program, the Board hereby grants to the Participant the number of Restricted Stock Units set forth on the Grant Schedule.

3. Grant Date.  The Grant Date of the Restricted Stock Units is set forth on the Grant Schedule.

4. Incorporation of Program.  All terms, conditions and restrictions of the Program are incorporated herein and made part hereof as if stated herein.  If there is any conflict between the terms and conditions of the Program and this Agreement, the terms and conditions of this Agreement will govern.  Except as otherwise provided herein, including the Grant Schedule, all capitalized terms used herein will have the meaning given to such terms in the Program.

5. Vesting.  Subject to the further provisions of this Agreement, the Restricted Stock Units will vest on the Vesting Date set forth on the Grant Schedule (the "Vesting Date") or if sooner, upon the occurrence of a Change in Control, provided in either case that the Participant remains in continuous service with the Company through that time.  For avoidance of doubt, accelerated vesting upon a Change in Control will not change the time that shares are issued in settlement of the Restricted Stock Units (which time is stated in Section 9 below).

6. Transferability.  The Restricted Stock Units are not transferable or assignable otherwise than by will or by the laws of descent and distribution.  Any attempt to transfer Restricted Stock Units, whether by transfer, pledge, hypothecation or otherwise and whether voluntary or involuntary, by operation of law or otherwise, will not vest the transferee with any interest or right in or with respect to such Restricted Stock Units.

7. Termination of Membership on the Board.   If:

(a) the membership of the Participant on the Board is terminated prior to the Vesting Date and such termination of membership is a "separation from service" (within the meaning of Treas. Reg. § 1.409A-1(h) or any successor provision); and

(b) the Participant is not removed from membership on the Board for Cause;

the Restricted Stock Units will vest upon such termination, provided that (i) the number of Restricted Stock Units that vest will be reduced pro-rata to the extent of the vesting period not served by the Participant on the Board, and (ii) to the extent compliance with the requirements of Treasury Regulation § 1.409A-3(i)(2) (or any successor provision) is necessary to avoid the application of an additional tax under Section 409A of the Code to the issuance of Shares to the Participant, then notwithstanding any contrary provision hereof, any issuance of Shares to the Participant that would otherwise be made during the six-month period beginning on the date of the Participant's termination of membership on the Board will be deferred and delivered to the Participant immediately following the lapse of such six-month period.

Except as set forth in this Section 7, all unvested Restricted Stock Units shall be forfeited as of termination.

8. Designation of Beneficiary.  The Participant has the right to designate in writing from time to time a beneficiary or beneficiaries for any Award by filing a written notice of such designation with the Board.  If the Participant's beneficiary predeceases the Participant and no successor beneficiary is designated, or if no valid designation has been made, the Participant's beneficiary will be the Participant's estate.  In such an event, no payment will be made unless the Board will have been furnished with such evidence as the Board may deem necessary to establish the validity of the payment.

9. Issuance of Shares.

(a) On the earlier of the Vesting Date or the Participant's "separation from service" (within the meaning of Treas. Reg. § 1.409A-1(h) or any successor provision), the Company shall issue to the Participant, whether by means of stock certificates or book entry registration, a number of shares of common stock of the Company ("Common Stock") equal to the number of Restricted Stock Units granted hereunder that have vested as of such date.

(b) To the extent required by law, this Award will be subject to tax withholding in accordance with Section 18 of the Program (and for this purpose, share withholding is authorized in the manner therein described).

(c) The Participant will not be deemed for any purpose to be, or have rights as, a stockholder of the Company by virtue of the grant of Restricted Stock Units, until shares of Common Stock are issued in settlement of such Restricted Stock Units pursuant to Section 9(a) hereof.  Upon the issuance of a stock certificate or the making of an appropriate book entry on the books of the transfer agent, the Participant will have all of the rights of a stockholder.

10. Securities Matters.  The Company shall be under no obligation to effect the registration pursuant to the Securities Act of 1933, as amended (the "1933 Act") of any interests in the Program or any shares of Common Stock to be issued thereunder or to effect similar compliance under any state laws.  The Company shall not be obligated to cause to be issued any shares, whether by means of stock certificates or appropriate book entries, unless and until the Company is advised by its counsel that the issuance of such shares is in compliance with all applicable laws, regulations of governmental authority and the requirements of any securities exchange on which shares of Common Stock are traded.  The Board may require, as a condition of the issuance of shares of Common Stock pursuant to the terms hereof, that the recipient of such shares make such covenants, agreements and representations, and that any certificates bear such legends and any book entries be subject to such electronic coding or stop order, as the Board, in its sole discretion, deems necessary or desirable.  The Participant specifically understands and agrees that the shares of Common Stock, if and when issued, may be "restricted securities," as that term is defined in Rule 144 under the 1933 Act and, accordingly, the Participant may be required to hold the shares indefinitely unless they are registered under such Act or an exemption from such registration is available.

11. Delays or Omissions.  No delay or omission to exercise any right, power or remedy accruing to any party hereto upon any breach or default of any party under this Agreement, will impair any such right, power or remedy of such party, nor will it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring, nor will any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring.  Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party or any provisions or conditions of this Agreement, must be in a writing signed by such party and will be effective only to the extent specifically set forth in such writing.

12. Right of Discharge Preserved.  Nothing in this Agreement confers upon the Participant the right to continue in the employ or other service of the Company, or affect any right which the Company may have to terminate such employment or service.

13. Integration.  The Program and this Agreement, including the Grant Schedule, contains the entire understanding of the parties with respect to its subject matter.  There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth herein.  This Agreement, including, without limitation, the Program, supersedes all prior agreements and understandings between the parties with respect to its subject matter.

14. Counterparts.  This Agreement may be executed in two or more counterparts, each of which is deemed an original, but all of which constitute one and the same instrument.

15. Governing Law.  This Agreement is governed by and construed and enforced in accordance with the laws of the State of Delaware, without regard to the provisions governing conflict of laws.

16. Participant Acknowledgment.  The Participant hereby acknowledges receipt of a copy of the Program and has carefully read and understands this Agreement and the Program.  The Participant hereby acknowledges that all decisions, determinations and interpretations of the Compensation Committee in respect of the Program, and the Board with respect to this Agreement and the Restricted Stock Units, are final and conclusive.

The parties are signing this Agreement on the date stated in the introductory paragraph.

 

VISHAY INTERTECHNOLOGY, INC.

	
By:

	 	 
	
Name:

	
Peter Henrici

	
Title:

	
Sr. Vice President,

Corporate Secretary

	
PARTICIPANT

	
 

 

 

	 

Grant Schedule

	
Participant's name:

	 
	
Grant Date:

	
January 2, 20__

	
Number of Restricted Stock Units granted:

	
________

	
Vesting Date:

	
January 1, 20__

	 	 
	
 

Notwithstanding any contrary provision of this Agreement: No shares will be delivered in respect of Restricted Stock Units subject to this Agreement unless and until the Participant has complied with all applicable provisions of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act") with respect to the delivery of those shares.  If the delivery of shares pursuant to this Agreement is delayed pursuant to the preceding sentence, the delivery shall occur on the first day that the Participant has complied with all applicable provisions of the HSR Act; provided that if the Participant has not complied with all applicable provisions of the HSR Act by the last day of the calendar year in which such shares are otherwise deliverable, such shares and all rights of the Participant under this Agreement will then be forfeited.

 

 

 

VISHAY INTERTECHNOLOGY, INC.

 

	
By:

	 	 
	
Name:

	
Peter Henrici

	
Title:

	
Sr. Vice President,

Corporate Secretary

	
PARTICIPANTExhibit

Date: November 22, 2017

ZOGENIX INTERNATIONAL LIMITED

THIERRY DARCIS

	
	
	 

SETTLEMENT AGREEMENT

	
	
	 

London

99 Bishopsgate
London EC2M 3XF
(44) 020 7710 1000 (Tel)
(44) 020 7374 4460 (Fax)
www.lw.com

Contact: Gus Fung

	
			
	 
	i
	SETTLEMENT AGREEMENT

WITHOUT PREJUDICE AND SUBJECT TO CONTRACT

THIS AGREEMENT is made on 22nd of November 2017

BETWEEN

		
	(1)
	ZOGENIX INTERNATIONAL LIMITED, a company registered in England with registered number 08330213 and having its registered office at Siena Court, Broadway, Maidenhead,

England, SL6 1NJ (the “Company”); and

		
	(2)
	Thierry Darcis, residing at Blair Lodge, 318 Reading Road, Wallingford OX10 9DW (the “Employee”).

BACKGROUND

		
	(A)
	The Employee’s employment with the Company will terminate by reason of redundancy at the Termination Date;

		
	(B)
	The Employee believes he has the Claims (as that term is defined below) arising out of the termination of his employment or otherwise;

		
	(C)
	The parties have entered into this Agreement for the purposes of recording and implementing the terms that they have agreed as full and final settlement of the Claims and any and all other claims that the Employee has and/or may have against the Company and any Group Company (as defined below) whether or not they are or could be in the contemplation of the parties at the date of this Agreement;

		
	(D)
	The parties agree that the conditions regulating settlement agreements under the Acts (as defined below) are satisfied by this Agreement; and

		
	(E)
	The Company is entering into this Agreement for itself and for all Group Companies, and is duly authorised to do so in that respect.

IT IS AGREED as follows:

		
	1.
	DEFINITIONS AND INTERPRETATION

		
	1.1
	Definitions

In this Agreement, unless the context otherwise requires:

	
		
	“the Acts”
	means the Employment Rights Act 1996 section 203(3), the Equality Act 2010, section 147 and the Working Time Regulations 1998 regulation 35(2)(b).

	“Claims”
	means the claims that the Employee believes that he has against the Company or any Group Company or against any of its or their respective shareholders, officers, employees or agents, being:

(i)    for breach of contract arising out of his employment, or termination of the employment, or otherwise;

(ii)    for unfair dismissal under the Employment Rights Act 1996;

	
			
	 
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	SETTLEMENT AGREEMENT

	
		
	 
	(iii)    in relation to unauthorised deductions from wages;

(iv)    for working time or holiday pay under the Working Time Regulations 1998;

(v)    for discrimination, harassment or victimisation on the grounds of age, sex, race or nationality or any other unlawful ground, pursuant to the Equality Act 2010;

(vi)    for breach of contract or any other rights to or in respect of shares or other securities or securities based incentives (individually and together “Share Incentives”) in the Company or any Group Company;

(vii)    for unlawful detriment under the Employment Rights Act 1996; and

(viii)    under the Public Interest Disclosure Act 1998.

	“Employment Contract”
	means the Employee’s terms and conditions of employment with an effective date of 29 June 2015.

	“Group”
	means the Company, any presently existing or future holding company or undertaking of the Company and any presently existing or future subsidiaries and subsidiary undertakings of the Company or such holding company or undertaking (and the words “subsidiary” and “holding company” shall have the meanings given to them in section 1159 in the Companies Act 2006).

	“Group Company”
	means any company within the Group.

	“Schedule”
	means a schedule to this Agreement.

	“Termination Date”
	means 22 November 2017.

		
	1.2
	Interpretation and Construction

Save to the extent that the context or the express provisions of this Agreement require otherwise, in this Agreement:

		
	(a)
	words importing the singular shall include the plural and vice versa;

		
	(b)
	words importing any gender shall include all other genders;

		
	(c)
	references to any statute or statutory provision (including any subordinate legislation) include any statute or statutory provision which amends, extends, consolidates or replaces the same, or which has been amended, extended, consolidated or replaced by the same, and shall include any orders, regulations, instruments or other subordinate legislation made under the relevant statute or statutory provision;

		
	(d)
	references to a “person” includes any individual, firm, company, corporation, body corporate, government, state or agency of state, trust or foundation, or any association, partnership or unincorporated body (whether or not having separate legal personality) or two or more of the foregoing;

	
			
	 
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	SETTLEMENT AGREEMENT

		
	(e)
	general words shall not be given a restrictive meaning because they are followed by words which are particular examples of the acts, matters or things covered by the general words and “including”, “include” and “in particular” shall be construed without limitation; and

		
	(f)
	the words “other” and “otherwise” shall not be construed eiusdem generis with any foregoing words where a wider construction is possible.

		
	1.3
	Headings

The headings in this Agreement are included for convenience only and shall be ignored in construing the Agreement.

		
	2.
	TERMINATION OF EMPLOYMENT AND OFFICES

		
	2.1
	The employment of the Employee with the Company will terminate on the Termination Date.

		
	2.2
	This Agreement constitutes written notice from the Company of termination of the Employee’s employment.

		
	2.3
	The Employee will resign forthwith in terms of the draft letter set out at Schedule 1 confirming his resignation from his employment and from all directorships and other offices which the Employee holds in the Company and the Group.

		
	2.4
	The Employee will do all such acts and things as the Company may require to effect his resignation from all other offices to which the Employee was appointed in connection with or by reason of his employment by or appointment with the Company or any Group Company, including all trusteeships.

		
	3.
	PAYMENTS

		
	3.1
	Subject to compliance by the Employee with the terms of this Agreement, the Company will (without admission of liability) pay to the Employee the following sums (the “Severance Payments”):

		
	(a)
	£1,467 as a statutory redundancy payment, calculated as follows: the Employee’s age is 54, length of service is 2 years, therefore entitlement is 3 weeks’ pay at £489 (the statutory cap per week);

		
	(b)
	£108,000 as an ex gratia payment in compensation for the termination of his employment;

		
	(c)
	£19,763.30 as a payment in lieu of notice;

		
	(d)
	£220,690.20 as a contractual redundancy payment;

		
	(e)
	£4,800 as a payment equal to the monthly plan premium for 12 months for the Employee and his eligible dependents who were covered under the Company’s health plans as at the Termination Date; and

		
	(f)
	£100 in respect of the undertakings given in Clause 11 in this Agreement.

		
	3.2
	The Severance Payments will be paid within 14 days after the later to occur of:

		
	(a)
	the Termination Date; and

	
			
	 
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	SETTLEMENT AGREEMENT

		
	(b)
	receipt by the Company of this Agreement duly executed by the Employee and his solicitor.

		
	3.3
	Subject to compliance by the Employee with the terms of this Agreement, the Company will also (without admission of liability) pay to the Employee a sum equivalent to any Bonus (as defined in the Employment Contract) to which the Employee is eligible if there is a Change of Control (as defined in the Employment Contract) within sixty days after the Termination Date (the “Change of Control Payment”).

		
	3.4
	The Change of Control Payment will be paid within 14 days after the later to occur of:

		
	(a)
	receipt by the Company of this Agreement duly executed by the Employee and his solicitor; and

		
	(b)
	the relevant Change of Control.

		
	3.5
	The Severance Payments and Change of Control Payment set out above are gross amounts and will be made after deduction of all payments or deductions required by law or owed by the Employee to the Company or any Group Company, including tax due on any benefits or payments made or to be made to the Employee in respect of his employment with the Company.

		
	3.6
	On receipt of a written request from a potential employer, the Company shall provide a factual reference limited to confirming the dates of employment and position held. Any oral reference provided will be on the same terms.

		
	4.
	TAXATION

		
	4.1
	The Company gives no warranty as to how the Severance Payments and Change of Control Payment should be taxed. The Company understands that the aggregate of the first £30,000 of the Severance Payments under Clauses 3.1(a) and 3.1(b) will not be subject to tax, pursuant to chapter 3 of part 6 of the Income Tax (Earnings and Pensions) Act 2003, but the aggregate of the Severance Payments under Clauses 3.1(a) and 3.1(b) in excess of £30,000 and the Severance Payments under Clauses 3.1(c), 3.1(d), 3.1(e) and 3.1(f) and the Change of Control Payment (if any) (together the “Taxable Amount”) will be subject to deduction by the Company of tax at the appropriate rate and (other than for the Severance Payments under Clauses 3.1(a) and (b)) employee’s National Insurance contributions before payment is made to the Employee. The Company will account to HMRC for the tax and National Insurance contributions deducted.

		
	4.2
	The Employee will be responsible and liable for the payment of any tax and employee’s National Insurance contributions and any social security contributions and other employment related taxes wherever in the world arising (including any interest, penalties, costs and expenses) due in respect of the Severance Payments and the benefits and incentives (if any) set out in this Agreement (excluding the tax and National Insurance contributions deducted by the Company from the Taxable Amount) (the “Additional Tax”). The Employee will indemnify the Company and each Group Company and keep them indemnified on a continuing basis against all and any liability for Additional Tax that the Company or any Group Company may incur. No payment of Additional Tax will be made to HMRC or other relevant authority without first particulars of the proposed payment being given to the Employee so that he is given the opportunity at his own expense to dispute any such payment or liability with HMRC or other relevant authority.

		
	5.
	PAYMENT OF ACCRUED SUMS AND EXPENSES

		
	5.1
	The Company will pay the Employee salary in respect of the period up to the Termination Date and pay in lieu of holiday which has accrued in the period up to the Termination Date.

	
			
	 
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	SETTLEMENT AGREEMENT

		
	5.2
	The Employee will submit his final expenses claim made up to the Termination Date, within 5 days after the date of this Agreement. The Company will reimburse the Employee for all expenses reasonably incurred in the proper performance of his duties in the usual way.

		
	5.3
	The Employee accepts he is not entitled to and will not be paid any commission or bonus (other than as may become due pursuant to Clause 3.3).

		
	6.
	STOCK INCENTIVES/SHARES

		
	6.1
	As at the Termination Date, the Employee will hold 162,500 of shares subject to stock options (that have been granted at various different exercise prices) under the Zogenix, Inc. 2010 Equity Incentive Plan (the “Options”). On the Termination Date, the Options (save for those granted in October 2015 and the restricted stock unit awards granted in March 2015) will accelerate and vest to provide the Employee with the number of Shares subject to Options that he would have received had he remained employed with the Company for another twelve months following the Termination Date. The Employee will have three months from the Termination Date to exercise the Options. On the day that is three months after the Termination Date any unexercised vested Options will lapse and cease to be exercisable.

		
	6.2
	The Employee has been granted 8,750 Restricted Stock Units under the Zogenix, Inc. 2010 Equity Incentive Plan. All of these Restricted Stock Units are unvested and will lapse on the Termination Date.

		
	6.3
	The terms of the Zogenix, Inc. 2010 Equity Incentive Plan will continue to govern the Options and Restricted Stock Units.

		
	7.
	LEGAL COSTS

		
	7.1
	Subject to receipt by the Company of the signed certificate at Schedule 2, the Company will make a contribution of £500 (excluding VAT) towards the reasonable legal costs incurred by the Employee for the advice received regarding the termination of his employment and entering into this Agreement.

		
	7.2
	Payment of this sum will be made directly to the Employee’s solicitors by the Company within 14 days after receipt by the Company of a copy of the VAT invoice from the Employee’s solicitors (which should be addressed to the Employee but marked as payable by the Company).

		
	8.
	WARRANTIES

		
	8.1
	The Employee warrants that:

		
	(a)
	he has not raised any legal proceedings against the Company or any Group Company or against any of its or their respective shareholders, officers, employees or agents; and

		
	(b)
	other than the Claims, he has no further or outstanding claims or rights of action, being any further or outstanding claims or rights of action, whether under statute or common law (including contractual, tortious or other claims) and whether before an Employment Tribunal, court or otherwise and whether in the UK or any other jurisdiction in the world against the Company or any Group Company or any of its or their respective shareholders, officers, employees or agents including in respect of or arising out of his employment, or the holding of any office with, the Company or any Group Company or the termination of that employment or office (such claims or rights of action referred to as “Further Claims”).

		
	8.2
	The Employee warrants as a strict condition to payment under this Agreement that there are no circumstances of which he is aware or of which he ought to be aware which could constitute a 

	
			
	 
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	SETTLEMENT AGREEMENT

repudiatory breach by him of his contract of employment which would entitle or have entitled the Company to terminate his employment without notice.

		
	9.
	SETTLEMENT

		
	9.1
	The Employee accepts the terms of this Agreement in full and final settlement of the Claims and all and any Further Claims, whether such claims are known or unknown to the parties and whether or not they are or could be in the contemplation of the parties at the date of this Agreement, which are waived and released in full.

		
	9.2
	The Employee undertakes not to institute or pursue any proceedings against the Company or any Group Company or against any of its or their respective shareholders, officers, employees or agents before an Employment Tribunal, court or any other judicial body anywhere in the world in respect of the Claims or for any remedy arising from any Further Claims.

		
	9.3
	The Employee does not waive his right to bring a claim for accrued rights under any pension scheme or damages for latent personal injuries and/or any latent industrial disease arising out of the course of his employment with the Company and/or the Group that are currently unknown to him. The Employee warrants that he is not aware of having any such personal injuries. These exceptions are the only claims which have not been settled by this Agreement.

		
	9.4
	Subject to the terms of Clause 9.3, if any other claim emerges in law or in fact anywhere in the world which was not previously known or foreseeable by the Employee in relation to his employment or holding of office or termination of that employment or office, then the Employee agrees that there should be no recourse to any remedy for the claim against the Company or any Group Company. The Employee acknowledges and accepts that in agreeing to the level of the Severance Payments he has taken into account that he has waived the right to pursue any claims, whether foreseeable or not previously known, against the Company or any Group Company.

		
	10.
	ACKNOWLEDGEMENT

The Employee acknowledges that the Company has entered into this Agreement and made the Severance Payments in reliance on the warranties and the undertakings given by him in Clause 8 and Clause 9, respectively. In the event of any breach by the Employee of any of those warranties or undertakings, the Severance Payments shall be repaid by him to the Company immediately and shall be recoverable by the Company as a debt.

		
	11.
	CONFIDENTIALITY

		
	11.1
	The Employee agrees he continues to owe a duty of confidentiality to the Company and to the Group after the Termination Date.

		
	11.2
	The Employee undertakes to keep confidential the existence and terms of this Agreement and that he will not disclose the same to any other person unless expressly authorised by the Company, save for the purposes of:

		
	(a)
	seeking legal advice in relation to its terms;

		
	(b)
	disclosing the same to the proper authorities as required by law;

		
	(c)
	disclosing to any actual or prospective employer with the prior written permission of the Board of the Company that his employment with the Company terminated by reason of redundancy upon terms which remain confidential; and

		
	(d)
	disclosing the terms of this Agreement to his spouse/civil partner provided that on so doing the Employee imposes upon him/her a like condition of confidentiality.

	
			
	 
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	SETTLEMENT AGREEMENT

		
	11.3
	The Employee undertakes not to do any act or thing that might reasonably be expected would damage the business, interests or reputation of the Company or any Group Company, and will not make or publish or cause to be made or published to anyone in any circumstances any disparaging remarks concerning the Company or any Group Company or any of its or their respective shareholders, officers, employees or agents.

		
	11.4
	Neither the Company nor any Group Company will authorise anyone to make or publish or cause to be made or published to anyone any statement or do any act or thing which it or they might reasonably expect would damage the interests or reputation of the Employee.

		
	11.5
	The Employee acknowledges and agrees that, whilst the consideration paid pursuant to Clause 3.1(f) represents valuable consideration, it does not amount to an estimate of or cap on the loss or damage which the Company or any Group Company would suffer were the Employee to breach any of the obligations set out in this Clause.

		
	12.
	DELIVERY UP

		
	12.1
	The Employee will return to the Company’s premises on or before the Termination Date all books, documents, papers, data (including copies or extracts and whether in printed or electronic format), materials, mobile phones, personal electronic devices, computer and peripherals and security codes, credit cards, keys, security cards, or other property of or relating to the business of the Company or the Group or its or their respective clients or suppliers.

		
	12.2
	The Employee confirms that he has not retained any confidential information relating to the Company or the Group, whether stored in electronic format or otherwise.

		
	13.
	STATUTORY SETTLEMENT

This Agreement is made in compliance with the Acts which have been satisfied both generally and in the following particulars:

		
	(a)
	the Employee confirms that he has received independent legal advice on the terms and effect of this Agreement, and in particular its effect on his ability to pursue his rights before an Employment Tribunal or court;

		
	(b)
	the said legal advice has been given to the Employee by Daff Richardson of Pennington Manches LLP whose address is 9400 Garsington Road, Oxford Business Park, Oxford,

OX4 2HN; and

		
	(c)
	the said solicitor has confirmed to the Employee that she is a qualified solicitor holding a current practising certificate and in respect of whom there is in force a policy of professional indemnity insurance covering the risk of a claim against her and the said firm in respect of loss arising in consequence of the said advice and by signing this Agreement also confirms that she complies with the Acts.

		
	14.
	EMPLOYMENT CONTRACT

The Employee confirms that all clauses in his Employment Contract with the Company that are described as applying after the termination of his employment, including the restrictions set out in clause 6, will continue to apply to him.

		
	15.
	COUNTERPARTS

This Agreement may be executed in any number of counterparts, including facsimiles, each of which is an original and all of which together evidence the same agreement.

	
			
	 
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	SETTLEMENT AGREEMENT

		
	16.
	GOVERNING LAW AND JURISDICTION

		
	16.1
	This Agreement is governed and to be construed in accordance with English law and any dispute is subject to the exclusive jurisdiction of the English courts.

		
	16.2
	Any Group Company may enjoy the benefit of and enforce the terms of this Agreement in accordance with the provisions of the Contracts (Rights of Third Parties) Act 1999.

The “without prejudice” and “subject to contract” nature of this document shall cease to apply once executed by the parties.

	
			
	 
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	SETTLEMENT AGREEMENT

SCHEDULE 1 - RESIGNATION

The Directors
Zogenix International Limited Siena Court
Broadway, Maidenhead England
SL6 1NJ

22 November 2017 Gentlemen,

Zogenix International Limited (the “Company”)

I hereby resign with immediate effect as an employee and from my office as a director of the Company and from all other offices which I hold in any Group Company.

Yours faithfully

	
					
	/s/ Thierry Darcis
	 
	 
	 
	 

Thierry Darcis

	
			
	 
	9
	SETTLEMENT AGREEMENT

SCHEDULE 2 - CERTIFICATE OF INDEPENDENT LEGAL ADVISER

I Daff Richardson of Pennington Manches LLP whose address is 9400 Garsington Road, Oxford Business Park, Oxford, OX4 2HN confirm that I gave independent legal advice to Thierry Darcis as to the terms and effect of the Agreement to which this certificate is attached (including the effect of Clauses 8, 9 and 10) and in particular its effect on his ability to pursue his rights before a Court or Employment Tribunal.

I confirm that I am a solicitor of the Senior Courts holding a current practising certificate and that the statutory requirements relating to settlement agreements and compromise agreements set out in the Acts (as defined in the Agreement) have been met. Further, that there was in force at the time I gave the advice referred to above a policy of insurance covering the risk of a claim by Thierry Darcis in respect of any loss arising in consequence of that advice.

	
				
	Signed:
	/s/ Daff Richardson
	 
	Daff Richardson

	 
	 
	 
	 

	Dated:
	23/17/11
	 
	 

	
			
	 
	10
	SETTLEMENT AGREEMENT

IN WITNESS of which this document has been executed as a deed by the parties on the date shown at the beginning of this document.

SIGNED by

ZOGENIX INTERNATIONAL LIMITED

	
			
	acting by STEPHEN FARR
	/s/ Stephen Farr
	 

SIGNED by THIERRY DARCIS    

Witness’s:

	
				
	Signature:
	/s/ Susan Hanan
	 
	/s/ Thierry Darcis

	 
	 
	 
	 

	Full Name:
	Susan Hanan
	 
	Thierry Darcis

	 
	 
	 
	 

	Address:
	 
	 
	Blair Lodge

	 
	 
	 
	Reading Rd

	 
	 
	 
	Wallingford

	 
	 
	 
	OX10 9DW

	 
	 
	 
	UK

	
			
	 
	11
	SETTLEMENT AGREEMENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00280-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00280-of-00352.parquet"}]]