Document:

Exhibit 10.2

 

This PERFORMANCE STOCK UNIT AGREEMENT is entered into as of May 10, 2017 (the
“Grant Date”), between BED BATH & BEYOND INC. (the “Company”) and Steven H. Temares (“you”).

 

1.      
Performance Stock Unit Grant. Subject to the restrictions, terms and conditions of the Plan and this Agreement, the
Company hereby awards you the number of Performance Stock Units (the “Performance Stock Units”) specified in
paragraph 8 below. The Performance Stock Units are subject to certain restrictions as set forth in the Plan and this Agreement.

 

2.      
The Plan. The Performance Stock Units are entirely subject to the terms of the Company’s 2012 Incentive
Compensation Plan, as amended from time to time (the “Plan”). A description of key terms of the Plan is
set forth in the Prospectus for the Plan. Capitalized terms used but not defined in this Agreement have the meanings set forth
in the Plan.

 

3.      
Restrictions on Transfer. You will not sell, transfer, pledge, hypothecate, assign or otherwise dispose of (any such
action, a “Transfer”) the Performance Stock Units, except as set forth in the Plan or this Agreement. Any attempted
Transfer in violation of the Plan or this Agreement will be void and of no effect.

 

4.      
Payment. With respect to each Performance Stock Unit that vests in accordance with the schedule set forth in paragraph
8 below, you will be entitled to receive a number of shares of Common Stock equal to one times the Payment Percentage set forth
opposite the Achievement Percentage in paragraph 8 below. Subject to paragraph 6 below, and further subject to satisfaction of
the Performance Goals, you will be paid such share(s) of Common Stock with respect to each vested Performance Stock Unit within
thirty (30) days following the later of: (i) the applicable vesting date set forth in paragraph 9 below (the “Time-Based
Vesting Date”); and (ii) the date of certification of the Achievement Percentage attained with respect to the applicable
Performance Goal (as defined below) by the Committee (the “Performance-Based Vesting Date”), to the extent administratively
practicable. The later of the Time-Based Vesting Date and the Performance-Based Vesting Date shall be referred to as the “Vesting
Date.”

 

5.      
Holding Period. Other than with respect to any shares of Common Stock used to cover tax withholdings as expressly
permitted under paragraph 9 hereof, you hereby irrevocably agree not to, directly or indirectly, (i) Transfer (except as otherwise
provided herein) any shares of the Subject Securities (as defined below) issued to you hereunder, or (ii) enter into any swap or
other derivative transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership
of the Subject Securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common
Stock or other securities, in cash or otherwise (such restrictions in clauses (i) and (ii), the “Sale Restrictions”),
other than a Transfer by will or by the laws of descent and distribution.  The aggregate number of shares of Common Stock
issuable in respect of the Performance Stock Units as of the Grant Date shall be referred to as the “Subject Securities.” 
Notwithstanding the foregoing, “Subject Securities” shall not include any portion of the Performance Stock Units that
have been forfeited or canceled under the terms of this Agreement. The Subject Securities shall be released from, and no longer
subject to, the Sale Restrictions on the first day after the second anniversary of each applicable Time-Based Vesting Date, i.e.,
on the first day after the third anniversary of the Grant Date and on the first day after the fifth anniversary of the Grant Date,
as applicable.  Notwithstanding the foregoing, one hundred percent (100%) of the Subject Securities shall be released from,
and no longer subject to, the Sale Restrictions immediately upon your death, Disability, a Change of Control (as such term is defined
in the Amended and Restated Supplemental Executive Retirement Benefit Agreement between you and the Company dated November 16,
2009), or a Termination of your employment by the Company without Cause. In all events, the holding and disposition of any shares
of Common Stock acquired hereunder shall be subject to any limitation under the Plan and this Agreement, any applicable policies
of the Company and the terms of applicable law.

 

6.      
Forfeiture; Certain Terminations. Except as provided in this paragraph: (i) upon your Termination, all unvested Performance
Stock Units shall immediately be forfeited without compensation; and (ii) upon the failure to attain a Performance Goal (as defined
below), any unvested Performance Stock Units subject to any such unachieved Performance Goal shall immediately be forfeited without
compensation. Notwithstanding anything herein to the contrary, the Performance Stock Units will vest in full upon a Termination
by reason of your death or Disability. In the event of your Termination by the Company without Cause or, if provided in an agreement
between you and the Company in effect as of the Grant Date, by you for Good Reason or due to a Constructive Termination without
Cause, as each such term (or concept of like import) is defined in that agreement, the Performance Stock Units will vest upon,
and subject to, the certification by the Committee of attainment of the applicable Performance Goal regardless of whether or not
you are employed on the date of certification.

 

7.      
Rights with Regard to Performance Stock Units. On and after the Grant Date, you will have the right to receive dividend
equivalents with respect to the shares of Common Stock underlying the Performance Stock Units ultimately achieved under the Performance
Goal described in paragraph 8, subject to the terms and conditions of this paragraph. Notwithstanding anything herein to the contrary,
in no event shall a dividend equivalent be issued or paid with respect to any Performance Stock Unit that has been forfeited pursuant
to paragraph 6. If the Company pays a dividend (whether in cash or stock) on its Common Stock shares, or its Common Stock shares
are split, or the Company pays to holders of its Common Stock other shares, securities, monies, warrants, rights, options or property
representing a dividend or distribution in respect of the Common Stock, then the Company will credit a deemed dividend or distribution
to a book entry account on your behalf with respect to each share of Common Stock underlying the Performance Stock Units held by
you, provided that your right to actually receive such cash or property shall be subject to the same restrictions as the Performance
Stock Units to which the cash or property relates, and the cash or property shall be paid to you at the same time you receive the
payment of the shares of Common Stock underlying the Performance Stock Units. Unless otherwise determined by the Committee, dividend
equivalents shall not be deemed to be reinvested in Common Stock and shall be treated as uninvested at all times, without crediting
any interest or earnings. Except as provided in this paragraph, you will have no rights as a holder of Common Stock with respect
to the Performance Stock Units unless and until the Performance Stock Units become vested hereunder and you become the holder of
record of the Common Stock underlying the Performance Stock Units.

 

8.      
Grant Size; Performance Goals. Performance Stock Units covered by this award: _____________. Twenty-five percent
(25%) of the Performance Stock Units will be subject to a one-year performance goal (the “One-Year Goal”) based
on the Company’s EBIT Margin, as defined and approved by the Committee, and the remaining seventy-five percent (75%) of the
Performance Stock Units will be subject to three-year performance goals (the “Three-Year Goals”) based on the
Company’s ROIC and EBIT Margin, each as defined and approved by the Committee. In allocating the Performance Stock Units
between the One-Year Goal and the Three-Year Goals, any remaining fractional share of Common Stock underlying the Performance Stock
Units shall be allocated to the One-Year Goal. The One-Year Goal and the Three-Year Goals (each a “Performance Goal”)
have been set forth in a resolution adopted by the Committee and separately communicated to you (the “Resolution”).
The following schedules set forth the Achievement Percentages and Payment Percentages applicable to Performance Stock Units subject
to each Performance Goal, in the event that over the periods in which the Performance Stock Units are subject to a One-Year Goal
and the Three-Year Goals, as applicable (the “Performance Period”), the Company’s Total Shareholder Return
(as calculated pursuant to the formula described in the Resolution) is either flat or positive:

 

     

     

    

 

	Performance Stock Units Subject to One-Year EBIT Margin Goal (25% Weighting)	
        Performance Stock Units Subject to Three-Year Goals
        (75% Weighting)

        Three-Year Goals = Three Year ROIC Goal (2/3 Weighting out of
        75%) and Three-Year EBIT Margin Goal (1/3 Weighting out of 75%)

	Achievement
Percentage (% of Peer Group Average)1	
        Payment Percentage of Common Stock Underlying PSUs 
	Achievement Percentage (% of Peer Group Average)	Payment Percentage of Common Stock Underlying PSUs
	 	 	 	 
	180% or Greater	150%	180% or Greater	150%
	145-179%	110%	145-179%	110%
	100-144%	100%	100-144%	100%
	70-99%	90%	70-99%	90%
	60-69%	75%	60-69%	75%
	50-59%	50%	50-59%	50%
	40-49%	25%	40-49%	25%
	<40%	0%	<40%	0%

 

The following schedules set forth the Achievement Percentages and Payment Percentages
applicable to Performance Stock Units subject to each Performance Goal, in the event that over the Performance Period, the Company’s
Total Shareholder Return (as calculated pursuant to the formula described in the Resolution) is negative:

 

	Performance Stock Units Subject to One-Year EBIT Margin Goal (25% Weighting)	
        Performance Stock Units Subject to Three-Year Goals
        (75% Weighting)

        Three-Year Goals = Three Year ROIC Goal (2/3 Weighting out of
        75%) and Three-Year EBIT Margin Goal (1/3 Weighting out of 75%)

	Achievement
Percentage (% of Peer Group Average)2	
        Payment Percentage of Common Stock Underlying PSUs 
	Achievement Percentage (% of Peer Group Average)	Payment Percentage of Common Stock Underlying PSUs
	 	 	 	 
	180% or Greater	100%	180% or Greater	100%
	145-179%	100%	145-179%	100%
	100-144%	100%	100-144%	100%
	70-99%	90%	70-99%	90%
	60-69%	75%	60-69%	75%
	50-59%	50%	50-59%	50%
	40-49%	25%	40-49%	25%
	<40%	0%	<40%	0%

 

9.      
Vesting Schedule. Except in the case of death or Disability, your vesting in any portion of the Performance Stock
Units is contingent on attainment of the applicable Performance Goal and on the subsequent certification of that attainment by
the Committee. In the event a Performance Goal is not attained during the one-year performance period or the three-year performance
period, as applicable, all of the Performance Stock Units subject to such Performance Goal shall be forfeited without compensation.
Subject to the attainment of the applicable Performance Goal and the subsequent certification described above, unless you experience
a Termination before the applicable Vesting Date, the Performance Stock Units will become vested in accordance with the following
vesting schedules:

 

	Vesting Date	
        Percent Vested Subject to 

        One-Year Goal
	
        Percent Vested Subject to 

        Three-Year Goals

	1st anniversary of Grant Date	100%	N/A
	2nd anniversary of Grant Date	N/A	N/A
	3rd anniversary of Grant Date	N/A	100%

 

For purposes of the payment of applicable withholding taxes required
by applicable law, the number of shares of Common Stock underlying the Performance Stock Units to which you become entitled on
payment shall be automatically reduced by the Company to cover the applicable minimum statutorily required withholding obligation,
except that you may elect to pay some or all of the amount of such obligation in cash in a manner acceptable to the Company. In
the event that the amount of tax withholding is automatically reduced, it is the intent of this Agreement that any deemed “sale”
of the shares of Common Stock underlying the Performance Stock Units withheld will be exempt from liability under Section 16(b)
of the Exchange Act pursuant to Rule 16b-3. All unscheduled and scheduled blackout periods (each, a “BP”) are determined
by the Company. If any shares of Common Stock underlying vested Performance Stock Units are scheduled to be paid during a BP to
which you are subject, (i) you will be paid the applicable shares of Common Stock on the scheduled payment date (net of any shares
withheld by the Company to pay minimum required taxes), but (ii) you will be unable to sell such shares of Common Stock until the
earliest date on which all BPs to which you are subject have expired.

 

Subject to paragraph 6 above, all vesting will occur only on the appropriate
Vesting Date, with no proportionate or partial vesting in the period prior to any such date. Except as otherwise provided in the
preceding paragraph, when any Performance Stock Unit becomes vested, the Company (unless it determines a delay is required under
applicable law or rules) will, on the payment date described in paragraph 4 above (or promptly thereafter) issue and deliver to
you a stock certificate registered in your name or will promptly recognize ownership of your shares through uncertificated book
entry or another similar method, subject to applicable federal, state and local tax withholding in the manner described herein
or otherwise acceptable to the Committee. Subject to the provisions of this Agreement, you will be permitted to transfer shares
of Common Stock following your receipt thereof, but only to the extent permitted by applicable law or rule.

 

 

_________________________

1 The “Peer Group Average”
applicable to the One-Year Goal and the Three-Year Goals is based on the peer group of companies selected by the Committee prior
to the Grant Date and separately communicated to you.

2 The “Peer Group Average”
applicable to the One-Year Goal and the Three-Year Goals is based on the peer group of companies selected by the Committee prior
to the Grant Date and separately communicated to you.

 

     

     

    

 

10.    Code
Section 409A. Although the Company does not guarantee the particular tax treatment of any payment under this Agreement, payments
made under this Agreement are intended to comply with, or be exempt from, the applicable requirements of Section 409A of the Code
and the Plan and this Agreement shall be limited, construed and interpreted in accordance with such intent.  To the extent
any payment made under this Agreement constitutes “non-qualified deferred compensation” pursuant to Section 409A of
the Code, the provisions of Section 13.13(b) of the Plan (including, without limitation, the six-month delay relating to “specified
employees”) shall apply.

 

11.    Notice.
Any notice or communication to the Company concerning the Performance Stock Units must be in writing and delivered in person, or
by U.S. mail, to the following address (or another address specified by the Company): Bed Bath & Beyond Inc., Finance Department
– Stock Administration, 650 Liberty Avenue, Union, New Jersey 07083.

 

BED BATH & BEYOND INC.

 

 

	By:	 	 	 	 
	 	An Authorized Officer	 	Steven H. TemaresExhibit 10.21.4

 

CONFIDENTIAL TREATMENT REQUESTED

 

CONFIDENTIAL TREATMENT REQUESTED:  Information for which confidential treatment has been requested is omitted and is noted with asterisks.  An unredacted version of this document has been filed separately with the Securities and Exchange Commission (the “Commission”).

 

FOURTH AMENDMENT

 

This Fourth Amendment (“Fourth Amendment”) is entered into effective December 13, 2016 (“the Fourth Amendment Effective Date”) by and between Incyte Corporation (“Incyte”), a Delaware Corporation having an office at 1801 Augustine Cut-off, Wilmington, DE 19803, and Eli Lilly and Company (“Lilly”), and Indiana corporation having an office at Lilly Corporate Center, Indianapolis, IN 46285.

 

RECITALS

 

A.            Incyte and Lilly are parties to (i) a License, Development and Commercialization Agreement, effective December 18, 2009, (ii) an Amendment, effective June 22, 2010, (iii) a Second Amendment, effective August 1, 2011, and (iv) a Third Amendment, effective March 31, 2016, pursuant to which Incyte has granted Lilly an exclusive License to develop and commercialize Licensed Compounds and Licensed Products in the Field (such Agreement, as so amended, the “Agreement”).

 

B.            The Parties now desire to further amend the Agreement to modify the Milestone Event which triggers Lilly’s obligation to pay Incyte a milestone payment.

 

C.            Unless otherwise defined herein, all capitalized terms appearing in this Fourth Amendment shall have the meaning set forth in the Agreement.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

 

1.              Section 7.2(a)(i)(F) of the Agreement is hereby deleted and replaced to designate 7.2(a)(i)(F) as follows:

 

	
Milestone Event
    	
 
    	
First Indication
    	
 
    	
[**]
    	
 
    	
[**]
    	
 
    
	
(F) Receipt of Marketing Authorization of a Licensed   Product by the European Commission
    	
 
    	
US $
    	
65,000,000
    	
 
    	
[**]
    	
 
    	
[**]
    	
 
    
									

 

2.              Section 7.2(a)(ii)(E) of the Agreement is hereby deleted and replaced to designate 7.2(a)(ii)(E) as follows:

 

 

	
Milestone Event
    	
 
    	
[**]
    	
 
    	
[**]
    	
 
    	
[**]
    	
 
    
	
(E) [**]
    	
 
    	
[**]
    	
 
    	
[**]
    	
 
    	
[**]
    	
 
    

 

 

3.              All other terms and conditions of the Agreement shall remain in full force and effect.

 

4.              This Fourth Amendment shall be effective as of the Fourth Amendment Effective Date.

 

IN WITNESS WHEREOF, the parties by their respective authorized representatives have executed this Fourth Amendment as of the Fourth Amendment Effective Date.

 

	
ELI LILLY AND COMPANY
    	
 
    	
INCYTE CORPORATION
    
	
 
    	
 
    	
 
    
	
By: 
    	
/s/ David A. Ricke
    	
 
    	
By: 
    	
/s/ Hervé Hoppenot
    
	
 
    	
 
    	
 
    
	
Name: David A. Ricke
    	
 
    	
Name: Hervé Hoppenot
    
	
 
    	
 
    	
 
    
	
Title: President, Lilly   BioMedicine
    	
 
    	
Title: CEO, Incyte
    
					

 

NF

 

[**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request.  An unredacted version of this exhibit has been filed separately with the Commission.

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