Document:

exv10w2

Exhibit 10.2

SoundBite
Communications, Inc.

Compensatory Arrangements with Outside Directors (Amended and
Restated as of December 9, 2009)

The following amended and restated compensatory arrangements of the Board of Directors (the
“Board”) of SoundBite Communications, Inc. (the “Company”) are effective as of December 9, 2009 (the
“Effective Date”). For purposes of these arrangements, the term “Outside Director” shall mean any
director who is not (i) an employee of the Company or any of its subsidiaries or (ii) an affiliate
(as defined in Rule 12b-2 under the Securities Exchange Act of 1934) of any person or entity that
is the beneficial owner (as defined in Rule 13d-3 under such Act) of 5.0% or more of the common
stock of the Company.

	 	Each Outside Director shall be entitled to the following:
	 
	 	(a)	 	an annual retainer fee of $25,000 for Board service;
	 
	 	(b)	 	additional annual retainer fees for Board committee service as follows:

	 	 	 	 	 
	• Chair of Board
	 	$	15,000	 
	• Chair of Audit Committee
	 	$	10,000	 
	• Other Members of Audit Committee
	 	$	3,000	 
	• Chair of Compensation Committee
	 	$	7,500	 
	• Other Members of Compensation Committee
	 	$	3,000	 
	• Chair of Nominating and Corporate Governance Committee
	 	$	5,000	 
	• Other Members of Nominating and Corporate Governance Committee
	 	$	2,000	 

	 	(c)	 	a meeting fee of $1,000 for each meeting of the Board, the Audit Committee, the
Compensation Committee or the Nominating and Corporate Governance Committee attended in
person or by telephone;
	 
	 	(d)	 	the grant, as of each annual stockholder meeting, of an option that (i) is
exercisable to purchase 13,000 shares of common stock, (ii) has an exercise price equal
to the fair market value on the grant date, (iii) vests in full as of the immediately
succeeding annual stockholder meeting or any earlier change-in-control event (as defined
therein), and (iv) terminates upon the earlier of three months after the final date on
which the Outside Director is a member of the Board and ten years after the grant date;
and
	 
	 	(e)	 	if such Outside Director first joins the Board after the Effective Date, the grant,
as of the date on which such Outside Director first joins the Board, of an option that
(i) is exercisable to purchase 25,000 shares of common stock, (ii) has an exercise price
equal to the fair market value of the common stock on the grant date, (iii) vests in
equal monthly installments over a period of 12 months following the grant date, subject
to earlier vesting in full upon the occurrence of a change-in-control event (as defined
therein), and (iv) terminates upon the earlier of three months after the final date on
which the Outside Director is a member of the Board and ten years after the grant date.

All retainer fees shall be paid quarterly in arrears, with fees earned during a fiscal quarter to
be paid during the first month of the immediately succeeding quarter. In the event an Outside
Director serves as a member of the Board or a committee or as Chair of a committee for less than
all of a fiscal quarter, the amount of the quarterly installment of each applicable retainer fee
under paragraphs (a) and (b) above shall equal one-twelfth of the amount of such retainer fee as
set forth in paragraph (a) or (b) multiplied by the number of full or partial months served in such
quarter.exv10w18

EXHIBIT 10.18

BOARD COMPENSATION POLICY

SurModics, Inc.

(Amended: November 17, 2008)

Compensation for Non-employee Chairman of the Board

Non-employee directors holding the position of Chairman of the Board shall receive an annual
retainer of $100,000 payable quarterly at the end of each calendar quarter. If, for any reason,
the Chairman does not serve for the entire calendar quarter, the Chairman shall be entitled to a
pro rata portion of that quarterly payment.

In November of each year, the non-employee Chairman shall be granted a nonqualified stock option
for 10,000 shares of the Company’s common stock regardless of such Chairman’s tenure of service as
a director to the Company.

The Chairman shall not be eligible to receive any of the meeting fees set forth below or any other
additional compensation for attendance at meetings of the Board or any of the Board’s committees.

Compensation for Non-employee Directors

Non-employee directors shall receive an annual retainer of $10,000 ($12,000 for Committee Chairs),
payable quarterly at the end of each calendar quarter. If, for any reason, the director does not
serve for the entire calendar quarter, the director shall be entitled to a pro rata portion of that
quarterly payment.

Non-employee directors shall also receive $1,000 for each formal Board meeting attended and $500
for each formal Committee meeting attended. All such fees shall be payable quarterly at the end of
each calendar quarter.

When a non-employee director is first elected to the Board, such director shall be granted a
nonqualified stock option for 10,000 shares of the Company’s common stock. In November of each
year, each non-employee director shall be granted a nonqualified stock option for 10,000 shares of
the Company’s common stock; provided, however, that in the first year of service on the Board, such
director shall only be entitled to a pro rata portion of such annual option grant.

All stock options provided pursuant to this policy (including those granted a non-employee Chairman
and to non-employee directors) shall be granted under the Company’s 2003 Equity Incentive Plan,
shall have a seven-year term, and shall have an exercise price equal to the fair market value of
the Company’s common stock on the date of grant. Such options shall vest annually in 25%
increments, beginning on the first anniversary of the date of grant, and shall be subject to such
other terms and conditions set forth in the individual option agreements. In the event the
director’s service on the Board terminates for any reason other than disability or death, (a) any
unvested portion of such options shall expire and be cancelled, and (b) the director shall be
entitled to exercise any vested portion of such options for up to three months after the date of
such termination of service, but not later than the date the option expires. Upon the director’s
termination of service, the Board, in its sole discretion, may accelerate the vesting of all or any
portion of the unvested portion of such options taking into consideration such director’s tenure of
service or other similar factors. In the event that the director’s service on the Board terminates
as a result of a disability or death, (i) all outstanding unvested options will vest in full on the
date that the director’s service ceases by reason of such disability or death, and (ii) the
director’s guardian or legal representative may exercise the

 

 

SurModics, Inc.

Board Compensation Policy Continued

Page 2 of 2

options not later than the earlier of
the date the options expire or one year after the date that the director’s service ceases by reason
of such disability or death.exv10w27

Exhibit 10.27

AMENDMENT TO

CHANGE OF CONTROL AGREEMENT

          THIS AMENDMENT to the Change of Control Agreement dated April 19, 2006 (the “Agreement”) is
made effective December 23, 2008 by and between SurModics, Inc. (the “Company”) and Bruce J Barclay
(“Executive”).

          WHEREAS, Company and Executive desire to amend, modify, and restate the Agreement to comply
with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”), and with the intent to exclude amounts payable as severance from deferred compensation
under Code Section 409A(a)(1);

          NOW, THEREFORE, Company and Executive, intending to be legally bound, agree as follows:

	1.	 	The first paragraph of Section 3(b) of the Agreement is hereby amended and restated as follows:

	 	(b)	 	The termination of employment with the Company by Executive for “Good
Reason.” Such termination shall be accomplished by, and effective upon,
Executive giving written notice to the Company of his decision to terminate.
“Good Reason” shall mean a good faith determination by Executive, in
Executive’s sole and absolute judgment, that any one or more of the following
events has occurred, at any time during the term of this Agreement or after a
Change of Control, resulting in a material negative change to Executive in the
employment relationship; provided, however, that such event shall not
constitute Good Reason if Executive has consented to such event, or if
Executive fails to provide written notice of his decision to terminate within
ninety (90) days of the occurrence of such event or fails to provide the
Company a reasonable opportunity to cure the condition:

	2.	 	Section 3(b)(6) of the Agreement is hereby amended and restated as follows:

	 	(6)	 	Any material breach by the Company of any employment
agreement, including this Change of Control Agreement, between
Executive and the Company or its subsidiary.

	3.	 	The following language is hereby added to the end of Section 3 of the Agreement:
	 
	 	 	For purposes of Sections 4 and 5 of this Agreement only, with respect to the timing
of payments thereunder, “Change of Control Termination” shall mean the date of
Executive’s “separation from service” with the Company within the meaning of
Section 409A(a)(2)(A)(i) of the Code (with “Company” for purposes of this paragraph
to include any business entity that is treated as a single

 

 

	 	 	employer with the Company under the rules of Section 414(b) and (c) of the Code).
	 
	4.	 	Section 4(b) of the Agreement is hereby amended and restated as follows:

	 	(b)	 	Subject to the limitations set forth below, the Company shall continue
to provide Executive with coverage under life, health, dental or disability
benefit plans at a level comparable to the benefits which Executive was
receiving or entitled to receive immediately prior to the Termination or, if
greater, at a level comparable to the benefits which Executive was receiving
immediately prior to the event which constituted Good Reason. Such coverage
shall continue for eighteen (18) months following such Change of Control
Termination or, if earlier, until Executive is eligible to be covered for such
benefits through his employment with another employer or continuation coverage
under Section 4980B (COBRA) otherwise ends. The Company may, in its sole
discretion, provide such coverage through the purchase of individual insurance
contracts for Executive;

5.      Section 4 of the Agreement is hereby amended to add the following two paragraphs immediately
following Section 4(d):

	 	 	The parties intend that the payment described in Section 4(a)(3) shall be excluded
from deferred compensation as a “short-term deferral” under Treas. Reg.
§ 1.409A-1(b)(4). The parties intend that the continuation of health and dental
benefits described in Section 4(b) shall be excluded from deferred compensation
pursuant to the medical benefits exception for separation pay plans under Treas.
Reg. § 1.409A-1(b)(9)(v)(B).
	 
	 	 	The parties intend that the continuation of life and disability insurance benefits
described in Section 4(b) shall be excluded from deferred compensation as
separation pay due to an involuntary separation from service under Treas. Reg.
§ 1.409A-1(b)(9)(iii), and the amounts payable for such continuation of life and
disability insurance coverage shall not exceed two times the lesser of
(x) Executive’s annualized compensation based on the annual rate of pay for
services to the Company for the calendar year prior to the calendar year in which
the Change of Control Termination occurs (adjusted for any increase during the year
that was expected to continue indefinitely if Executive had not separated from
service) or (y) the compensation limit under Section 401(a)(17) of the Code for the
year in which the Change of Control Termination occurs. Further, in no event shall
the benefits described in Section 4(b) extend beyond December 31st of
the second calendar year following the calendar year in which the Change of Control
Termination occurs.

	6.	 	The last sentence of Section 4 of the Agreement is hereby deleted.

2

 

	7.	 	Section 5 of the Agreement is hereby amended and restated in its entirety as follows:

     5. Limitation on Change of Control Payments. This Section 5 applies only in
the event the Company determines that this Agreement is subject to the limitations
of Section 280G of the Code, or any successor provision, and the regulations issued
thereunder. In the event any Change of Control Benefit, as defined below, payable
to Executive would constitute an “excess parachute payment” as defined in Code
Section 280G, Executive shall receive a “tax gross-up” payment sufficient to pay
the initial excise tax applicable to such excess parachute payment (but excluding
the income and excise taxes, if any, applicable to the tax gross-up payment). Such
additional cash payment shall be made no earlier than the date that is six months
and one day after the Change of Control Termination and no later than December 31
of the calendar year after the year in which Executive remits the related taxes.
For purposes of this Section 5, a “Change of Control Benefit” shall mean any
payment, benefit or transfer of property in the nature of compensation paid to or
for the benefit of Executive under any arrangement which is considered contingent
on a Change of Control for purposes of Code Section 280G, including, without
limitation, any and all of the Company’s salary, bonus, incentive, restricted
stock, stock option, equity-based compensation or benefit plans, programs or other
arrangements, and shall include benefits payable under this Agreement

	8.	 	The last sentence of Section 7 of the Agreement is hereby amended and restated as follows:
	 
	 	 	Failure of the Company to obtain such agreement before the effective date of such
event shall be a breach of this Agreement within the meaning of Section 3(b)(6) of
this Agreement.

9.      The Change of Control Agreement, as hereby amended, is intended to satisfy, or be exempt from,
the requirements of Section 409A(a)(2), (3) and (4) of the Code, including current and future
guidance and regulations interpreting such provisions, and should be interpreted accordingly.

10.     Except as expressly amended and restated herein, the Change of Control Agreement, as hereby
amended, remains in full force and effect.

[Signature page follows]

3

 

     IN WITNESS WHEREOF, Company and Executive have executed this Amendment to Change of Control
Agreement effective as of the date set forth in the first paragraph.

	 	 	 	 	 
	 	SurModics, Inc.

 	 
	 	By  	/s/ Bryan K. Phillips
 	 
	 	 	Its VP, General Counsel 	 
	 	 	 	 
	 	 	 
	 	     /s/ Bruce J Barclay
 	 
	 	Bruce J Barclay 	 
	 	 	 
	 

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