Document:

Severance Compensation and Change of Control Agreement

 Exhibit 10.1 
  
 CENTRA SOFTWARE, INC. 
  
 SEVERANCE COMPENSATION AND CHANGE OF CONTROL AGREEMENT 
  
 This Severance Compensation and Change of Control Agreement (the “Agreement”) is made as of the 1st day of April 2005 by and between Centra Software, Inc., a
Delaware corporation (the “Company”), and Michelle M. Caggiano of Peabody, Massachusetts (the “Employee”). 
  
 WHEREAS, the Employee currently serves as the Chief Financial Officer, Treasurer and Secretary of the Company; and 
  
 WHEREAS, the Company and the Employee desire to provide for severance arrangements for
the Employee under certain circumstances; 
  
 NOW, THEREFORE, in
consideration of the premises and the mutual promises hereinafter set forth, the Company and the Employee agree as follows: 
  
 1. Definitions. As used in this Agreement, the following terms shall have the following meanings: 
  
 1.1. “Accrued Base Compensation”: all amounts of compensation for services
rendered to the Company that have been earned or accrued through the date of the Employee’s termination of employment but that have not been paid as of such date including (i) Base Salary, (ii) reimbursement for reasonable and necessary
business expenses incurred by the Employee on behalf of the Company during the period ending on such date, and (iii) vacation pay; provided, however, that Accrued Base Compensation shall not include any amounts described in clause (i) that
have been deferred pursuant to any salary reduction or deferred compensation elections made by the Employee. 
  
 1.2. “Accrued Incentive Compensation” shall mean the quarterly variable bonus amount, as established by the Compensation Committee of the Company’s Board of Directors (the “Compensation
Committee”), pro-rated to the date of termination and payable only if and to the extent that the established targets for the applicable quarter were met. 
  

1.3 “Annual Variable Bonus” shall mean the Employee’s target bonus amount per annum as established by the Compensation Committee of the
Company’s Board of Directors. 
  
 1.4 “Base Salary” shall
mean the Employee’s base compensation per annum as established by the Compensation Committee. 
  
 1.5. “Cause” shall mean (i) any act of personal dishonesty committed by the Employee in connection with her responsibilities as an employee or officer of the Company and intended to result in her
substantial personal enrichment, (ii) the Employee’s conviction for a felony, (iii) a willful act by the Employee which constitutes gross misconduct and which is injurious to the Company, or (iv) continued, intentional failure by the Employee
to perform her obligations as an Employee of the Company for thirty (30) days after the Company has delivered to her a written demand for performance which specifically describes the basis for the Company’s belief that she has intentionally
failed to perform such obligations. 
  
 1.6. “Change of Control”:
(i) the sale of all or substantially all of the assets or issued and outstanding capital stock of the Company, (ii) merger or consolidation involving the Company in which stockholders of the Company immediately before such merger or consolidation do
not own immediately after such merger or consolidation capital stock or other equity interests of the surviving corporation or entity representing more than fifty percent in voting power of capital stock or other equity interests of such surviving
corporation or entity outstanding immediately after such merger or consolidation, or (iii) a change, without the approval of the Board of Directors, of a majority of the Board of Directors. 

 1.7 “Severance Compensation”: 100% of the annual variable bonus amount established by the Compensation
Committee of the Company’s board of directors for the year in which termination occurs plus 100% of the Employee’s Base Salary for such year. 
  
 2. Payments upon Termination. 
  
 2.1 If (a) the Company terminates the Employee’s employment upon a Change of Control, other than for Cause or upon the Employee’s death, or (b) the Employee
voluntarily terminates her employment after a Change of Control upon ninety (90) days’ prior written notice, then the Company (A) will pay the Employee her Severance Compensation in twelve (12) equal monthly installments in arrears, as well as
her Accrued Incentive Compensation, if any, which shall be payable together with such monthly installment during the month after her termination in which it is determined that such Accrued Incentive Compensation was earned and is payable pursuant
hereto and (B) shall also pay her, on the date of termination, her Accrued Base Compensation as of the termination date. 
  
 2.2 If (a) the Company terminates the Employee’s employment at any time, other than for Cause or upon the Employee’s death or other than in connection with a
Change of Control, or (b) the Company hires another individual for the position of Chief Financial Officer, then the Company will pay the Employee an amount equal to fifty percent (50%) of her Severance Compensation in six (6) equal monthly
installments in arrears and shall also pay her, on the date of termination, her Accrued Base Compensation plus her Accrued Incentive Compensation (payable as set forth in Section 2.1 above) as of the termination date. 
  
 2.3 The Company’s obligation to make payments pursuant to Sections 2.1 and 2.2 shall
cease upon the Employee’s material breach of Employee’s “Employee Agreement,” as defined in Section 6 below, if such breach causes or is likely to cause material harm to the Company. 
  
 2.4. If the Company terminates the Employee’s employment at any time for Cause, the
Company will pay the Employee her Accrued Base Compensation. 
  
 2.5 If the
Company terminates the Employee’s employment upon the Employee’s death, the Company will pay the Employee’s estate her Accrued Base Compensation plus her Accrued Incentive Compensation payable in the manner set forth in Section 2.1
above. 
  
 2.6 Upon any termination of the Employee’s employment with the
Company to which Sections 2.1 or 2.2 apply, the Company shall take such measures as are permissible under its medical, life, and disability insurance to continue coverage or reimbursement for the Employee (and the Employee’s family, if
applicable) on the same terms (including any required contribution by the Employee) as immediately prior to such termination, but only if and to the extent that it is permissible to continue coverage under any such insurance plans. Medical coverage
under this section shall be effected by the Employee making an election under COBRA. The Employee’s rights under this Section 2.6 shall continue only for so long as the Employee is entitled to receive payments of Severance Compensation under
Sections 2.1 or 2.2. 
  
 2.7 Upon any termination of the Employee’s
employment with the Company, other than termination for Cause or by reason of the Employee’s death, notwithstanding any contrary or inconsistent provision of any option granted to the Employee by the Company or of any option plan, each such
option shall be exercisable until the first anniversary of such termination or, if earlier, the last day on which such option would have expired had Employee continued to be employed by the Company. 
  
 2.8 The Severance Compensation payable to the Employee shall not be reduced by payments
received by the Employee from a subsequent employer. 

 3. Limitation on Benefits. It is the intention of the parties that no payments by the Company to Employee
under this Agreement or any other agreement or plan pursuant to which Employee is entitled to receive payments or benefits shall be non-deductible to the Company by reason of the operation of Section 280G of the Internal Revenue Code of 1986, as
amended (the “Code”) relating to parachute payments. Accordingly, and notwithstanding any other provision of this Agreement or any such agreement or plan, if by reason of the operation of said Section 280G, any such payments exceed the
amount which can be deducted by the Company, such payments shall be reduced to the maximum amount which can be deducted by the Company. To the extent that payments exceeding such maximum deductible amount have been made to Employee, Employee shall
refund such excess payments to the Company with interest thereon at the Applicable Federal Rate determined under Section 1274(d) of the Code, compounded annually, or at such other rate as may be required in order that no such payments shall be
non-deductible to the Company by reason of the operation of said Section 280G. To the extent that there is more than one method of reducing the payments to bring them within the limitations of said Section 280G the Employee shall be entitled to
determine the method of such reduction in her sole discretion. 
  
 4. Change
of Control; Option Vesting. If a Change of Control occurs while Employee is employed by the Company, then, whether or not Employee is terminated in connection with the Change of Control and notwithstanding any contrary or inconsistent
provision of any option granted to the Employee by the Company, the unvested options held by the Employee immediately before such Change of Control shall vest upon such Change of Control. 
  
 5. Mutual Release. Upon any termination of the Employee’s employment with the Company to which Section 2.1 or 2.2
applies, the Employee shall execute the Mutual Release attached hereto as Exhibit A. The Company agrees to execute such Mutual Release simultaneously. The Employee’s execution of such Mutual Release shall be a condition precedent to the
effectiveness of Section 2.1 or 2.2. 
  
 6. Employee Agreement. The
Employee agrees that the terms of the Employee’s Invention, Non-Competition and Non-Disclosure Agreement (the “Employee Agreement”) attached to this Agreement as Exhibit B are incorporated into and made a part of this Agreement and
supersedes any and all prior agreements and understandings between the Employee and the Company relating to the subject matter of the Employee Agreement. 
  
 7. Miscellaneous: 
  
 7.1. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the Commonwealth of Massachusetts. Any action brought by any party to
this Agreement shall be brought and maintained in a court of competent jurisdiction in Middlesex or Suffolk Counties in the Commonwealth of Massachusetts, and each party hereby consents to the jurisdiction of such courts. 
  
 7.2. This Agreement shall be binding upon, and shall inure to the benefit of, the parties
hereto and their respective heirs, legal representatives, successors and assigns. 
  
 7.3. This Agreement may be amended, modified or supplemented, and any obligation hereunder may be waived, only by a written instrument executed by the parties hereto. The waiver by any party hereto of a breach of any provision of this
Agreement shall not operate as a waiver of any subsequent breach. No failure on the part of any party to exercise, and no delay in exercising, any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise
of any such right or remedy by such party preclude any other or further exercise thereof or the exercise of any other right or remedy. All rights and remedies hereunder are cumulative and are in addition to all other rights and remedies provided by
law, agreement or otherwise. 
  
 7.4. This Agreement constitutes the entire
agreement between the parties and terminates and supersedes any and all prior agreements and understandings (whether written or oral) between the parties with respect to the subject matter of this Agreement. The Employee acknowledges and agrees that
neither the 

 Company, nor anyone acting on its behalf has made, and in executing this Agreement the Employee has not relied upon, any
representations, promises, or inducements except to the extent the same is expressly set forth herein. 
  
 REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 
  
  

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the date first written above.

  

			
	CENTRA SOFTWARE, INC.
		
	By	 	  

	 	 	 Paul R. Gudonis, President and CEO
 duly authorized by
the Board of Directors

		
	 	 	  

	 	 	Michelle M. Caggiano

 Exhibit A 
  

Mutual Release 
  
 (a) By Employee. In consideration of the undertakings by Centra Software, Inc. (“the Company”) set forth in the Severance Compensation and Change of
Control Agreement with the undersigned (“the Employee”) dated             , 200    , relating to severance compensation and related matters, to
which this Mutual Release is attached as an exhibit (“the Severance Agreement”) and for other good and valuable consideration, the receipt of which is hereby acknowledged, Employee, on behalf of himself, his or her successors, heirs,
administrators, executors, assigns, agents, representatives, and all those in privity with him or her, releases and forever discharges the Company, all of its present and former officers, directors, employees, servants, agents, representatives,
successors, assigns, and beneficiaries, (collectively, the “the Company Releases”), of and from any and all claims, charges, complaints, causes of action, demands, obligations, liabilities, damages, attorneys fees, expenses, and costs of
any kind which Employee now has or ever had arising out of, based on, or connected with his or her employment by the Company, including but not limited to any causes of action or claims arising under or based on the National Labor Relations Act, as
amended; the Civil Rights Act of 1886, 42 U.S.C. § 1981; Section 2 of the Civil Rights Act of 1871, 42 U.S.C. § 1985(c); Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000a et seq., as amended by the Equal Employment
Opportunity Act of 1972, 42 U.S.C. § 2000e et seq. and the Civil Rights Act of 1991, 42 U.S.C. § 1981a et seq.; the Equal Pay Act of 1963, 29 U.S.C. §206(d); the Rehabilitation Act of 1973, as amended by the Americans With
Disabilities Act and the 1991 Civil Rights Act, 29 U.S.C. §§ 706(8), 791, 793, 794, 794a; the Americans with Disabilities Act of 1990, as amended by the Civil Rights Act of 1991, 42 U.S.C. § 12101 et seq.; the Age Discrimination in
Employment Act (“ADEA”) of 1967, 29 U.S.C. § 621 et seq.; Executive Order No. 11246, 3 C.F.R. 1964, reprinted as amended in 42 U.S.C. § 2000e; Massachusetts General Laws chapter 151B; Massachusetts General Laws chapter 31; and
any other state, federal or municipal equal employment opportunity law, statute, public policy, order, ordinance, or regulation, and any other federal or state law, statute, order, public policy, or regulation affecting or relating to the claims or
rights of employees, and any and all actions and claims of whatever nature in tort, contract, or arbitration, judicial or quasi-judicial, and any claims or suits relating to the breach of an oral or written contract, misrepresentation, defamation,
interference with prospective economic advantage, interference with contract, intentional and negligent infliction of emotional distress, negligence, breach of the covenant of good faith, and fraud which Employee had, now has, or claimed to have,
known or unknown, against the Company Releases; provided, however, the foregoing release shall not relate to obligations of the Company arising under (i) the Severance Agreement, (ii) any option granted by the Company to the Employee,
(iii) the 401(k) plan of the Company and the agreements thereunder or (iv) any statute, by-law or insurance agreement providing indemnification rights to Employee in connection with his or her services as an officer of the Company. 
  
 (b) By the Company. In consideration of the undertakings by Employee set forth above,
and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, on behalf of itself, its directors, officers, employees, successors, assigns, agents, representatives, and all those in privity with it,
releases and forever discharges Employee, all of his or her agents, representatives, successors, assigns, and beneficiaries, (collectively, the “Employee Releases”), of and from any and all claims, charges, complaints, causes of action,
demands, obligations, liabilities, damages, attorneys fees, expenses, and costs of any kind which the Company now has or ever had arising out of, based on, or connected with Employee’s service as an officer and employee of the Company, and any
and all actions and claims of whatever nature in tort, contract, or arbitration, judicial or quasi-judicial, and any claims or suits relating to the breach of an oral or written contract, misrepresentation, defamation, interference with prospective
economic advantage, interference with contract, intentional and negligent infliction of emotional distress, negligence, breach of the covenant of good faith, and fraud which the Company had, now has, or claimed to have, known or unknown, against the
Employee Releases; provided, however, the foregoing release shall not relate to obligations of Employee (i) arising under the Severance Agreement, 

 
(including the invention, non-competition and non-disclosure agreement set forth as Exhibit B to the Severance Agreement, or (iii) under any option granted
by the Company to the Employee. 
  

			
	 CENTRA SOFTWARE, INC.

		
	 By
	 	  

	 
	  

	 Michelle M. Caggiano

  
 Dated:
            , 200     

 Exhibit B 
  

EMPLOYEE’S INVENTION, NON-COMPETITION AND 
 NON-DISCLOSURE AGREEMENT 
  
 In consideration of my employment or
continued employment, and of the compensation to be paid to me therefore, by Centra Software, Inc., a Delaware corporation (the “Company”), and of the salary or wages paid to me during my employment, and in consideration of the
undertakings by Centra Software, Inc. (“the Company”) set forth in the Severance Compensation and Change of Control Agreement with the undersigned (“the Executive”) dated
            , 200    , relating to severance compensation and related matters, to which this Invention, Non-Competition and Non-Disclosure Agreement (this
“Agreement”) is attached as an exhibit (“the Severance Agreement”) and for other good and valuable consideration, the receipt of which is hereby acknowledged, I acknowledge, warrant and agree with the Company as follows:

  
 1. Acknowledgement of Risk to the Company: 
  
 As an employee of the Company, I will have access to Confidential Information (as
hereinafter defined) and Inventions (as hereinafter defined) of the Company. I understand and agree that improper use or disclosure of such Confidential Information or Inventions would cause the Company substantial loss and damage. Accordingly, I
have agreed to enter into this Agreement. 
  
 2. Agreement not to Compete with
the Company: 
  
 (a) While employed by the Company, and for a period of one
year following the termination of such employment for any reason, I shall not participate, directly or indirectly, on my own behalf or as owner, stockholder, partner, director, officer, manager, employee, agent or consultant, in any business, firm
or corporation, or business or other activity, which is in direct or indirect competition with the Company, which intends at any time to compete directly or indirectly with the Company, or which sells, licenses, leases or otherwise provides any
products or services similar to any products or services that are, or are proposed to be at the time of such termination, sold, licensed, leased or provided by the Company, in the United States. Notwithstanding the foregoing, I may purchase on a
national securities exchange or in the “over-the-counter” market securities representing up to 5% of the combined voting power of the outstanding securities of any company whose securities are listed on such exchange or publicly traded in
such market. 
  
 (b) While employed by the Company and for a period of one year
following the termination of such employment for any reason, I shall not, (i) directly or indirectly, request, cause, solicit or induce any other employee of, or any consultant to, or any other person who may have been employed by, the Company, or
any other person who may possess Confidential Information, to perform work or services for, or to provide information to, any person or entity other than the Company, or encourage any such employee to terminate his or her employment with the Company
or (ii) hire any current employee of the Company or any former employee of the Company within 12 months of the termination of such former employee’s employment with the Company. 
  
 3. Definition of “Confidential Information”: 
  
 The term “Confidential Information” as used in this Agreement shall mean all trade secrets, proprietary information and other data
or information (and any tangible evidence, record or representation thereof), whether prepared, conceived or developed by an employee of the Company (including myself) or received by the Company from an outside source, which is in the possession of
the Company (whether or not the property of the Company), which is maintained in secrecy or confidence by the Company or any subsidiary of the Company or which might permit the Company or any subsidiary of the Company or any of their respective
customers to obtain a competitive advantage over competitors who do not have access 

 
to such trade secrets, proprietary information, or other data or information. Without limiting the generality of the foregoing, Confidential Information
shall include: 
  
 (a) any idea, concept, invention, discovery, innovation,
improvement, process, procedure, method, formula, development, computer program, training or service manual, test, test results, technical data, design, pattern, device, plan or design for new or revised products, research or other compilations or
items of information, work in process, or any Invention (as hereinafter defined), or parts or elements of the foregoing, or for uses therefor and any and all revisions and improvements upon or relating to any of the foregoing, or parts or elements
thereof, in each case whether or not reduced to tangible form; and 
  
 (b) the
name of any past, current or prospective client, customer, supplier, employee, sales agent, consultant, or any sales plan, marketing material, plan or survey, business plan or opportunity, product or other development plan or specification, business
proposal, financial record, or business record or other record or information relating to the past, present or proposed business of the Company. 
  
 4. Unauthorized Disclosure of Confidential Information: 
  
 I shall at all times hold confidential all Confidential Information. During my employment by the Company, I shall use and disclose Confidential Information only to the
extent necessary to perform my duties as an employee of the Company and for the sole benefit of the Company, and, in any event, shall not disclose any Confidential Information to any person or entity outside the Company without the prior written
direction or permission of a duly authorized officer of the Company. After the termination of my employment by the Company, I shall not disclose to any person or entity, or make use of, any Confidential Information without the prior written
permission of a duly authorized officer of the Company. This provision shall not apply to any Confidential Information which the Company has voluntarily disclosed to the public or which has otherwise legally entered the public domain. 
  
 I understand that the Company has from time to time in its possession information which is
claimed by others to be confidential or proprietary and which the Company has agreed to keep confidential. I agree that all such information shall be Confidential Information for purposes of this Agreement. 
  
 5. Property of the Company: 
  
 (a) I agree that all Confidential Information and all originals and all copies of all
manuscripts, drawings, prints, manuals, diagrams, letters, notes, notebooks, reports, models, graphs and all other materials containing, representing, evidencing, recording, or constituting any Confidential Information, however and whenever produced
(whether by myself or others), shall be the sole property of the Company. 
  
 (b)
I agree that any idea, concept, invention, discovery, innovation, formula, computer program or other Confidential Information conceived, developed, or otherwise made by me, alone or jointly with others and directly relating to the Company’s
present products, programs or services or to tasks assigned to me during the course of my employment, whether or not patentable or subject to copyright protection and whether or not reduced to tangible form or reduced to practice, during the period
of my employment with the Company, or during the six-month period next succeeding the termination of my employment with the Company, whether or not made during my regular working hours, and whether or not made on the Company’s premises, and
whether or not disclosed by me to the Company (hereinafter collectively referred to as “Inventions”), together with all products or services which embody, emulate or employ such Invention or Confidential Information, shall be the sole
property of the Company, and all copyrights, patents, patent rights, trademarks, service marks, logos, and reproduction rights to, and other proprietary rights in, such Invention or Confidential Information, whether or not patentable or
copyrightable, shall belong exclusively to the Company. 
  
 (c) I hereby assign,
and, to the extent any such assignment cannot be made at the present time, agree to assign, to the Company all my right, title and interest throughout the world in and to all Inventions, and to anything tangible which evidences, incorporates,
constitutes, represents or records any such Inventions. 

 I agree that all such Inventions shall constitute works made for hire under the copyright laws of the United States and
hereby assign and, to the extent any such assignment cannot be made at present, I hereby agree to assign to the Company all copyrights, patents and other proprietary rights I may have in any of such Inventions, together with the right to file for
and/or own wholly without restriction United States and foreign patents, trademark registration and copyright registration and any patent, or trademark or copyright registration issuing thereon. 
  
 6. Employee’s Obligation to Keep Records: 
  
 I shall make and maintain adequate and current written records of all Inventions which by
virtue of Section 5 are the sole property of the Company and shall disclose same fully and in writing to the Company’s President or other duly authorized officer immediately upon development of the same and at any time upon request. 

 
 7. Employee’s Obligation to Cooperate: 
  
 During and after the term of my employment by the Company, I shall execute, acknowledge,
seal and deliver all documents, including, without limitation, all instruments of assignment, patent and copyright applications and supporting documentation, and perform all acts, which the Company may request to secure its rights hereunder and to
carry out the intent of this Agreement. In furtherance of my undertaking in the immediately preceding sentence, I specifically agree to assist the Company, at the Company’s expense, in every proper way to obtain for its sole benefit, in any and
all countries, patents, copyrights or other legal protection for all Confidential Information and Inventions, which by virtue of Section 5 hereof are the sole property of the Company and for publications pertaining to any of them. I shall be
entitled to reasonable compensation for any material amount of time spent by me in assisting the Company, under this Section 7. 
  
 8. Exceptions to this Agreement: 
  
 Except as set forth below, I am subject to no contractual or other restriction or obligation which will in any way limit my activities on behalf of the Company or require
me not to disclose any information or data to the Company. I further represent and warrant that I do not claim rights in, or otherwise exclude from this Agreement, any previous invention, discovery or other item of intellectual property except the
following: 
  
 (If none, please write
“None”.)    X     
  
 OR

  
 See attached Schedule 8
(initial)             
  
 Notwithstanding anything in this Agreement to the contrary, my assignment and obligation to assign my rights in all inventions, discoveries or other items of intellectual property shall not extend or apply to any
invention that (i) I developed entirely on my own time without using any Company equipment supplies, facilities or trade secret information; (ii) does not relate to the Company’s business or actual or reasonably anticipated research and
development; (iii) does not result from any work performed by me for the Company; (iv) is disclosed by me in writing to the Company before I assert any rights in the same; and (v) with respect to which the Company agrees that conditions (i) through
(iv) pertain and agrees to exclude from the application of this Agreement by jointly executing with me a revision to the attached Schedule 8. 
  
 9. Termination of Employment: 
  
 If I cease to be employed by the Company for any reason, or at any other time upon request of the Company, I shall return promptly any notebooks, computer programs,
specifications, drawings, designs, 

 
blueprints, reproductions, sketches, notes, reports, proposals, business plans, manuals, or copies of any of them, other documents or materials, tools,
equipment, or other property belonging to the Company or its customers. If requested to do so by the Company, I agree to sign a Termination Certificate in which I confirm that I have complied with the requirements of the preceding paragraph and that
I am aware that certain restrictions imposed upon me by this Agreement continue after termination of my employment regardless of the manner of or reasons for such termination. I understand, however, that my obligations under this Agreement will
continue even if I do not sign a Termination Certificate. 
  
 10. Miscellaneous
Provisions: 
  
 (a) In the event that any provision of this Agreement shall
be determined to be unenforceable by any court of competent jurisdiction by reason of its extending for too great a period of time or over too large a geographic area or over too great a range of activities, it shall be interpreted to extend only
over the maximum period of time, geographic area or range of activities as to which it may be enforceable. If, after application of the immediately preceding sentence, any provision of this Agreement shall be determined to be invalid, illegal or
otherwise unenforceable by any court of competent jurisdiction, the validity, legality and enforceability of the other provisions of this Agreement shall not be affected thereby. Any invalid, illegal or unenforceable provision of this Agreement
shall be severable, and after any such severance, all other provisions hereof shall remain in full force and effect. 
  
 (b) This Agreement constitutes the entire agreement and understanding between the Company and me concerning the subject matter hereof. No modification, amendment,
termination or waiver of this Agreement or any of the provisions herein contained shall be binding upon me or the Company unless made in writing and signed by a duly authorized officer of the Company. Failure of the Company to insist upon strict
compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such terms, covenants and conditions. In the event of any inconsistency between this Agreement and any other contract between the Company and me, the
provisions of this Agreement shall prevail. 
  
 (c) This Agreement shall be
binding upon me regardless of the duration of my employment by the Company, the manner of or reasons for the termination of my employment by the Company, or the amount of my salary or wages. My obligations under this Agreement shall survive the
termination of my employment by the Company regardless of the manner of or reasons for such termination and regardless of whether such termination constitutes a breach of any other agreement I may have with the Company, and shall not in any way be
modified, altered or otherwise affected by such termination. My obligations under this Agreement shall be binding upon my heirs, legal representatives, successors and assigns, and the provisions of this Agreement shall inure to the benefit of and be
binding on the legal representatives, successors and assigns of the Company. 
  
 (d) I recognize and acknowledge that money damages alone would not adequately compensate the Company for breach of any of my covenants, agreements or obligations herein, and therefore I agree that in the event of the breach or threatened
breach of any such covenant, agreement or obligation, in addition to all other remedies available to the Company, at law, in equity or otherwise, the Company shall be entitled to injunctive relief compelling specific performance of, or other
compliance with, the terms hereof. All rights and remedies hereunder are cumulative and are in addition to and not exclusive of any other rights and remedies available, at law, in equity, by agreement or otherwise. 
  
 (e) This Agreement shall be governed by, and construed and enforced in accordance with, the
substantive laws of The Commonwealth of Massachusetts without regard to its principles of conflicts of laws, and shall be deemed to be effective as of the first day of my employment by the Company. This Agreement is executed under seal. 

 

	
	  

	 Michelle M. Caggiano

  
 Dated: 

 CENTRA SOFTWARE, INC. 
  
 EMPLOYEE’S INVENTION, NON-COMPETITION AND 
 NON-DISCLOSURE AGREEMENT 
  
 Schedule 8 
  
 Below sets forth all inventions, discoveries or other
items of intellectual property that, (i) I developed entirely on my own time without using any Company equipment supplies, facilities or trade secret information; (ii) does not relate to the Company’s business or actual or reasonably
anticipated research and development; and (iii) does not result from any work performed by me for the Company:Long-Term Incentive and Stock Option Plan

 Exhibit 10.3 
  
 ENTEGRIS, INC. 
 1999 LONG-TERM INCENTIVE AND 
 STOCK OPTION PLAN 
  
 1. Purpose. The purpose of the Plan is to provide incentives to attract, retain and motivate eligible persons
whose present and potential contributions are important to the success of the Company, its Subsidiaries and Affiliates, by offering them an opportunity to participate in the Company’s future performance through grants of Options and Awards.
Capitalized terms not defined in the text are defined in Section 23. 
  
 2. Types of Stock Options and Awards. 
  
 2.1 Options and Shares. Options granted under this Plan may be either: (a) incentive stock options (“ISOs”) within the meaning of Section 422 of the Revenue Code, or (b) nonqualified stock options (“NSOs”), as
designated at the time of grant. The Shares that may be purchased upon exercise of Options granted under this Plan are shares of the Company’s Common Stock, $.01 par value per share. 
  
 2.2 Awards. Awards granted under this Plan include Performance Awards
(denominated or payable in cash, Shares, other securities and other awards or other property) and Restricted Stock Awards, as designated at the time of grant. 
  

3. Shares Subject to The Plan. 
  
 3.1 Number of Shares Available. Subject to Section 3.2, the total number of Shares reserved and available for grant and issuance pursuant to the
Plan shall be initially nine million (9,000,000) Shares. Such Shares may be either authorized but unissued shares, or issued shares which have been reacquired by the Company. Subject to Section 3.2, Shares shall again be available for grant and
issuance in connection with future Options or Awards under the Plan that: (a) are subject to issuance upon exercise of an Option but cease to be subject to such Option for any reason other than exercise of such Option; (b) are subject to an Option
or Award granted hereunder but are forfeited or are repurchased by the Company at the original issue price; or (c) are subject to an Option or Award that otherwise terminates without Shares being issued. The Committee shall have the authority to
replenish the Plan annually with additional Shares by electing to increase the number of Shares available for issuance under the Plan by up to four percent (4%) of the total outstanding Shares of the Company, such election to be made within ninety
(90) days after the end of the fiscal year; provided, however, that the total number of Shares reserved and available for grant pursuant to the Plan shall not exceed twenty million (20,000,000) Shares. At all times during the term of this Plan, the
Company shall reserve and keep available such number of Shares as shall be required to satisfy the requirements of outstanding Options and Awards under this Plan. 

 3.2 Adjustment of Shares. In the event that the number of outstanding Shares change as a result of
a stock dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification or similar change in the capital structure of the Company without consideration, then: (a) the number of Shares reserved for issuance
under this Plan; (b) the Exercise Prices of and number of Shares subject to outstanding Options; (c) the number of Shares and price per Share subject to outstanding Awards; and (iv) the amount payable in connection with Awards, shall be
proportionately adjusted, subject to any required action by the Board or the shareholders of the Company and in compliance with applicable securities laws; provided, however, that fractions of a Share shall not be issued but shall either be paid in
cash at Fair Market Value or shall be rounded up to the nearest Share, as determined by the Committee; and provided further that the Exercise Price of any Option may not be decreased to below the par value of the Shares. 
  
 4. Eligibility. ISOs may be granted only to employees
(including officers and directors who are also employees) of the Company or of a Subsidiary of the Company. 
  
 All other Options and Awards may be granted to employees, officers, directors, consultants, independent contractors and advisors of the Company or any
Subsidiary or Affiliate of the Company; provided, however, that such consultants, independent contractors and advisors render bona fide services not in connection with the offer and sale of securities in a capital-raising transaction. A person may
be granted more than one Option and/or Award under the Plan. The Company also may, from time to time and in the manner determined by the Committee, substitute or assume outstanding options or performance or restricted stock awards granted by another
company, whether in connection with an acquisition of such other company or otherwise. 
  
 5. Administration. 
  
 5.1 Committee Authority. This Plan shall be administered by the Committee or the Board acting as the Committee. Subject to the general purposes, terms and conditions of this Plan, and to the direction of the Board, the Committee
shall have full power to implement and carry out this Plan. The Committee shall have the authority to: 
  

	 	(a)	Construe and interpret the Plan, any Option Agreement or Award Agreement and any other agreement or document executed pursuant to this Plan. 

  

	 	(b)	Prescribe, amend and rescind rules and regulations relating to this Plan. 

  

	 	(c)	Select persons to receive Options or Awards. 

  

	 	(d)	Determine the form and terms of Options and Awards. 

  

	 	(e)	Determine the number of Shares or other consideration subject to Options and Awards. 

  

 2 

	 	(f)	Determine whether Options and Awards will be granted singly, in combination, in tandem with, in replacement of or as alternatives to, other Options and/or Awards under this Plan or
any other incentive or compensation plan of the Company or any Subsidiary or Affiliate of the Company. 

  

	 	(g)	Grant waivers of Plan, Option or Award conditions. 

  

	 	(h)	Determine the vesting, exercisabilty and payment of Options and Awards. 

  

	 	(i)	Correct any defect, supply any omission, or reconcile inconsistency in the Plan, any Option, any Option Agreement or Award Agreement. 

  

	 	(j)	Determine whether an Option or Award has been earned. 

  

	 	(k)	Make all other determinations necessary or advisable for the administration of this Plan. 

  
 5.2 Committee Discretion. Any determination made by the Committee with respect to any Option or Award shall be made
in its sole discretion at the time of grant of the Option or the Award or, unless in contravention of any express term of this Plan or the Option/Award, at any later time, and such determination shall be final and binding on the Company and all
persons having an interest in any Option or Award under this Plan. 
  
 5.3 Exchange Act Requirements. If the Company is subject to the Exchange Act, the Company will take appropriate steps to comply with the disinterested director requirements of Section 16(b) of the Exchange Act, including but not
limited to, the appointment by the Board of a Committee consisting of not less than two Persons (who are members of the Board), each of whom is a Disinterested Person. 
  
 6. Terms and Conditions of Options. The Committee may grant Options to eligible persons and shall determine
whether such Options shall be ISOs within the meaning of the Revenue Code or NSOs, the number of Shares subject to such Options, the Exercise Price of such Options, the period during which such Options may be exercised, and all other terms and
conditions of such Options, subject to the following: 
  
 6.1
Form of Option Grant. Each Option granted under this Plan shall be evidenced by an Option Agreement which shall expressly identify the Option as an ISO or NSO, and be in such form and contain such provisions (which need not be the same for
each Participant) as the Committee shall from time to time approve, and which shall comply with and be subject to the terms and conditions of this Plan. 
  
 6.2 Date of Grant. The date of grant of an Option shall be the date on which the Committee makes the determination to grant such Option unless
otherwise specified by the Committee. 
  

 3 

 6.3 Exercise Period. Options shall be exercisable within the times or upon the events determined
by the Committee as set forth in the Option Agreement; provided, however, that no ISO shall be exercisable after the expiration of ten (10) years from the date the Option is granted; and provided further that no ISO granted to a person who directly
or by attribution owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Subsidiary of the Company (a “Ten Percent Shareholder”) shall be exercisable after the expiration of five
(5) years from the date the ISO is granted. 
  
 6.4 Exercise
Price. The Exercise Price shall be determined by the Committee when the Option is granted, provided, however, that: (a) the Exercise Price of an ISO shall be not less than one hundred percent (100%) of the Fair Market Value of the Shares on the
date of grant; (b) the Exercise Price of any ISO granted to a Ten Percent Shareholder shall not be less than one hundred ten percent (110%) of the Fair Market Value of the Shares on the date of grant; and (c) the Exercise Price of any Option may not
be decreased to below the par value of the Shares, if any. 
  
 6.5 Method of Exercise. Options may be exercised only by delivery to the Company of a written stock option exercise agreement (the “Exercise Agreement”) in a form approved by the Committee (which need not be the same for
each Participant), together with payment in full of the Exercise Price for the number of Shares being purchased. 
  
 6.6 Limitations on ISOs. The aggregate Fair Market Value (determined as of the date of grant) of Shares with respect to which ISOs are exercisable
for the first time by a Participant during any calendar year (under this Plan or under any other incentive stock option plan of the Company or any Subsidiary or Affiliate of the Company) shall not exceed One Hundred Thousand Dollars ($100,000). If
the Fair Market Value of Shares on the date of grant with respect to which ISOs are exercisable for the first time by a Participant during any calendar year exceeds One Hundred Thousand Dollars ($100,000), the Options for the first One Hundred
Thousand Dollars ($100,000) worth of Shares to become exercisable in such calendar year shall be ISOs and the Options for the amount in excess of One Hundred Thousand Dollars ($100,000) that become exercisable in that calendar year shall be NSOs. In
the event that the Revenue Code or the regulations promulgated thereunder are amended after the Effective Date of the Plan to provide for a different limit on the Fair Market Value of Shares permitted to be subject to ISOs, such different limit
shall be automatically incorporated herein and shall apply to any Options granted after the effective date of such amendment. 
  
 6.7 Modification, Extension or Renewal. The Administrator may modify, extend or renew outstanding Options and authorize the grant of new Options in
substitution thereof, provided that any such action may not, without the written consent of the Eligible Director, impair any of the Eligible Director’s rights under any Option previously granted. Except for adjustments made pursuant to Section
3.2, an outstanding option granted under this Plan shall not be repriced. Accordingly, the Exercise Price for any outstanding Option may not be decreased after the date of grant, nor may any outstanding option granted under the Plan be surrendered
to the Company as consideration for the grant of a new option with a lower Exercise Price, as the case may be, without shareholder approval of any such action. 
  

 4 

 6.8 No Disqualification. Notwithstanding any other provision in this Plan, no term of this Plan
relating to ISOs shall be interpreted, amended or altered, nor shall any discretion or authority granted under this Plan be exercised, so as to disqualify this Plan under Section 422 of the Revenue Code or, without the consent of the Participant
affected, to disqualify any ISO under Section 422 of the Revenue Code. 
  
 7. Payment For Shares Purchased Upon The Exercise of Options. Payment for Shares upon the exercise of Options may be made in cash or by check or, or in any other manner approved for the Participant by the Committee and where
permitted by Section 16(b) of the Exchange Act or other applicable law including, but not limited to, cancellation of indebtedness, payment by a promissory note, waiver of compensation, the surrender of other Company shares, or a cashless exercise
through the surrender of a portion of the Option. 
  
 8.
Withholding Taxes. Whenever Shares and/or other property are to be issued upon exercise of Options or Awards granted under this Plan, the Company may require the Participant to remit to the Company an amount sufficient to satisfy
federal, state and local withholding tax requirements prior to the delivery of any certificate or certificates for such Shares. Whenever, under this Plan, payments in satisfaction of Options or Performance Awards are to be made in cash, such payment
shall be net of an amount sufficient to satisfy federal, state and local withholding tax requirements. 
  
 9. Restricted Stock Awards. Awards of Shares subject to forfeiture and transfer restrictions may be granted by the Committee. Any Restricted
Stock Award shall be evidenced by a Restricted Stock Award Agreement in such form as the Committee shall from time to time approve, which agreement shall comply with and be subject to the following terms and conditions and any additional terms and
conditions established by the Committee that are consistent with the terms of the Plan. 
  
 9.1 Grant of Restricted Stock Awards. Each Restricted Stock Award made under the Plan shall be for such number of Shares as shall be determined by the Committee and set forth in the Restricted Stock Award
Agreement containing the terms of such Restricted Stock Award. The Restricted Stock Award Agreement shall set forth a period of time during which the grantee must remain in the continuous employment of the Company in order for the forfeiture and
transfer restrictions to lapse. If the Committee so determines, the restrictions may lapse during such restricted period in installments with respect to specified portions of the Shares covered by the Restricted Stock Award. The Restricted Stock
Award Agreement may also, in the discretion of the Committee, set forth performance or other conditions that will subject the Shares to forfeiture and transfer restrictions. The Committee may, at its discretion, waive all or any part of the
restrictions applicable to any or all outstanding Restricted Stock Awards. 
  
 9.2 Delivery of Shares and Restrictions. At the time of a Restricted Stock Award, a certificate representing the number of Shares awarded thereunder shall be registered in 

  

 5 

 
the name of the Participant. Such certificate shall be held by the Company or any custodian appointed by the Company for the account of the Participant
subject to the terms and conditions of this Plan and the grant or award, and shall bear such a legend setting forth the restrictions imposed thereon as the Committee, in its discretion, may determine. The Participant shall have all rights of a
shareholder with respect to the Shares, including the right to receive dividends and the right to vote such Shares, subject to the following restrictions: (i) the Participant shall not be entitled to delivery of the stock certificate until the
expiration of the restricted period and the fulfillment of any other restrictive conditions set forth in the Restricted Stock Award Agreement with respect to such Shares; (ii) none of the Shares may be sold, assigned, transferred, pledged,
hypothecated or otherwise encumbered or disposed of during such restricted period or until after the fulfillment of any such other restrictive conditions; and (iii) except as otherwise determined by the Committee, all of the Shares shall be
forfeited and all rights of the grantee to such Shares shall terminate, without further obligation on the part of the Company, unless the Participant remains in the continuous employment of the Company for the entire restricted period in relation to
which such Shares were granted and unless other restrictive conditions relating to the Restricted Stock Award are met. Any Common Stock, any other securities of the Company and any other property (except for cash dividends) distributed with respect
to the Shares subject to Restricted Stock Awards shall be subject to the same restrictions, terms and conditions as such restricted Shares. 
  
 9.3 Termination of Restrictions. At the end of the restricted period and provided that any other restrictive conditions of the Restricted Stock
Award are met, or at such earlier time as otherwise determined by the Committee, all restrictions set forth in the Restricted Stock Award Agreement relating to the Restricted Stock Award or in this Plan shall lapse as to the Restricted Shares
subject thereto, and a stock certificate for the appropriate number of Shares, free of the restrictions and the restricted stock legend, shall be delivered to the Participant or the Participant’s beneficiary or estate, as the case my be.

  
 10. Performance Awards. 
  
 10.1 Grant of Performance Awards. The Committee is further authorized
to grant Performance Awards. Subject to the terms of this Plan and any applicable award agreement, a Performance Award granted under this Plan: (i) may be denominated or payable in cash, Shares (including without limitation, restricted stock), other
securities, other awards or other property; and (ii) shall confer on the Participant rights valued as determined by the Committee, in its discretion, and payable to, or exercisable by, the Participant, in whole or in part, upon the achievement of
such performance goals during such performance periods as the Committee, in its discretion, shall establish. Subject to the terms of this Plan and any applicable award agreement, the performance goals to be achieved during any performance period,
the length of any performance period, the amount of any Performance Award granted, and the amount of any payment or transfer to be made by the Participant and by the Company under any Performance Award shall be determined by the Committee.

  

 6 

 10.2 Shares Subject to Performance Awards. For purposes of this Section 10: (i) if a Performance
Award entitles the Participant to receive or purchase Shares, the number of Shares covered by such Performance Award to which such Performance Award relates shall be counted on the date of grant of such Performance Award against the aggregate number
of Shares available under this Plan; and (ii) if a Performance Award entitles the Participant to receive cash payments but the amount of such payments are denominated in or based on a number of Shares, the number of Shares shall be counted on the
date of grant of such Performance Award against the aggregate number of shares available under this Plan; provided, however, that Performance Awards that operate in tandem with (whether granted simultaneously with or at a different time from), or
that are substituted for, other Performance Awards may be counted or not counted under procedures adopted by the Committee in order to avoid double counting. 
  
 11. Privileges of Stock Ownership. No Participant shall have any of the rights of a shareholder with respect to any Shares until the Shares
are issued to the Participant. 
  
 12.
Transferability. Options and Awards granted under this Plan, and any interest therein, shall not be transferable or assignable by a Participant, and may not be made subject to execution, attachment or similar process, otherwise than by
will or by the laws of descent and distribution or pursuant to a qualified domestic relations order as defined by the Revenue Code or Title I of the Employee Retirement Income Security Act (or the rules thereunder). During the lifetime of the
Participant an Option or Award shall be exercisable only by the Participant, and any elections with respect to an Option or Award may be made only by the Participant. 
  
 13. Restrictions on Shares. At the discretion of the Committee, the Company may require that an Option or
Award be subject to restrictions including, but not limited to, a right of first refusal or a right to repurchase by the Company. 
  
 14. Certificates. All certificates for Shares or other securities delivered under this Plan shall be subject to such stock transfer orders,
legends and other restrictions as the Committee may deem necessary or advisable, including restrictions under any applicable federal, state or foreign securities law, or any rules, regulations and other requirements of the SEC or any stock exchange
or automated quotation system upon which the Shares may be listed. 
  
 15. Escrow; Pledge of Shares. To enforce any restrictions on a Participant’s Shares, and/or to enforce any obligation of a Participant in connection with an Option or Award the Committee may require the Participant to
deposit all certificates representing Shares, together with stock powers or other instruments of transfer approved by the Committee, appropriately endorsed in blank, with the Company or an agent designated by the Company to hold in escrow until such
restrictions have lapsed or terminated, and the Committee may cause a legend or legends referencing such restrictions to be placed on the certificates. 
  
 16. Securities Laws and Other Regulatory Compliance. An Option or Award shall not be effective unless such Option or Award is in compliance
with all applicable federal and state securities laws, rules and regulations of any governmental body, and the requirements of any stock exchange or automated quotation system upon which the Shares may then be listed, as 

  

 7 

 
they are in effect on the date of grant of the Option or Award and also on the date of exercise or other issuance of Shares. Notwithstanding any other
provision in this Plan, the Company shall have no obligation to issue or deliver certificates for Shares under this Plan prior to: (a) obtaining any approvals from governmental agencies that the Company determines are necessary or advisable and/or
(b) completion of any registration or other qualification of such Shares under any state or federal law or ruling of any governmental body that the Company determines to be necessary or advisable. The Company shall be under no obligation to register
the Shares with the SEC or to effect compliance with the registration, qualification or listing requirements of any state securities laws, stock exchange or automated quotation system, and the Company shall have no liability for any inability or
failure to do so. 
  
 17. No Obligation to Employ.
Nothing in this Plan or any Option or Award granted under this Plan shall confer or be deemed to confer on any Participant any right to continue in the employ of or to continue any other relationship with, the Company or any Subsidiary or Affiliate
of the Company or limit in any way the right of the Company or any Subsidiary or Affiliate of the Company to terminate the Participant’s employment or other relationship at any time, with or without cause. 
  
 18. Adoption and Shareholder Approval. This Plan shall become
effective on the date that it is adopted by the Board. This Plan shall be approved by the shareholders of the Company (excluding Shares issued pursuant to this Plan), consistent with applicable laws, within twelve (12) months before or after the
Effective Date. 
  
 19. Term of Plan. This Plan
shall terminate ten (10) years from the Effective Date or, if earlier, the date of shareholder approval. 
  
 20. Amendment or Termination of This Plan. The Board may at any time terminate or amend this Plan in any respect, including, without
limitation, amendment of any form of Option Agreement or Award Agreement or instrument to be executed pursuant to the Plan; provided, however, that the Board shall not, without the approval of the shareholders of the Company, amend the Plan in any
manner that requires such shareholder approval pursuant to the Revenue Code or the regulations promulgated thereunder as such provisions apply to ISO plans or pursuant to the Exchange Act or Rule 16b-3 (or its successor), as amended, thereunder.

  
 21. Nonexclusivity of This Plan. Neither the
adoption of this Plan by the Board, the submission of this Plan to the shareholders of the Company for approval nor any provision of this Plan shall be construed as creating any limitations on the power of the Board to adopt such additional
compensation arrangements as it may deem desirable including, without limitation, the granting of stock options or awards otherwise than under this Plan, and such arrangements may be either generally applicable or applicable only in specific cases.

  
 22. Governing Law. This Plan and all agreements,
documents and instruments entered into pursuant to this Plan shall he governed by and construed in accordance with the internal laws of the State of Minnesota, excluding that body of law pertaining to conflict of law or choice of law. 
  

 8 

 23. Definitions. As used in this Plan, the following terms shall have the following
meanings: 
  
 “Affiliate” means any corporation that
directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, another corporation, where “control” (including the terms “controlled by” and “under common control
with”) means the possession, direct or indirect, of the power to cause the detection of the management and policies of the corporation, whether through the ownership of voting securities, by contract or otherwise. 
  
 “Award” means either a Performance Award or Restricted Stock Award
granted under this Plan, or both, as the context requires. 
  
 “Award Agreement” means either a Performance Award Agreement or Restricted Award Agreement granted under this Plan, or both, as the context requires. 
  
 “Board” means the Board of Directors of the Company. 
  
 “Committee” means the committee appointed by the Board to administer this Plan, or if no committee is appointed,
the Board. 
  
 “Company” means Entegris, Inc., a
corporation organized under the laws of the State of Minnesota, or any successor corporation. 
  
 “Disability” means a disability, whether temporary or permanent, partial or total, within the meaning of Section 22(e)(3) of the Revenue Code, as determined by the Committee. 
  
 “Disinterested Person” means a director who has not, during the
period that person is a member of the Committee and for one year prior to service as a member of the Committee, been granted or optioned equity securities pursuant to the Plan or any other plan of the Company or any Subsidiary or Affiliate of the
Company, except in accordance with the requirements set forth in Rule l6b-3(c)(2)(i) (and any successor regulation thereto) as promulgated by the SEC under Section 16(b) of the Exchange Act, as such rule is amended from time to time and as
interpreted by the SEC. 
  
 “Effective Date” means the
date on which the Board adopts this Plan. 
  
 “Exchange
Act” means the Securities Exchange Act of 1934, as amended. 
  
 “Exercise Price” means the price at which a holder of an Option may purchase the Shares issuable upon exercise of the Option. 
  
 “Fair Market Value” means, as of any date, the value of a Share of the Company’s Common Stock determined as follows: 
  

	 	(a)	If such Common Stock is then quoted on the Nasdaq National Market System, its last reported sale price on the Nasdaq National Market System or, if no such reported sale takes place
on such date, the average of the closing bid and asked prices. 

  

 9 

	 	(b)	If such Common Stock is publicly traded and is then listed on a national securities exchange, the last reported sale price or, if no such reported sale takes place on such date, the
average of the closing bid and asked prices on the principal national securities exchange on which the Common Stock is listed or admitted to trading. 

  

	 	(c)	If such Common Stock is publicly traded but is not quoted on the Nasdaq National Market System nor listed or admitted to trading on a national securities exchange, the average of
the closing bid and asked prices on such date, as reported by The Wall Street Journal, for the over-the-counter market. 

  

	 	(d)	If none of the foregoing is applicable, by the Board of Directors of the Company in good faith. 

  
 “Insider” means an officer or director of the Company or any other person whose transactions in the Company’s
Common Stock are subject to Section 16 of the Exchange Act. 
  
 “Option” means a contractual right to purchase Shares at sometime in the future at a specified price. 
  
 “Option Agreement” means, with respect to each Option, the signed written agreement between the Company and the Participant setting forth the
terms and conditions of the Option. 
  
 “Participant”
means a person who receives an Option or Award under this Plan. 
  
 “Performance Award” means an award of cash, Shares or other property payable upon the achievement of specific performance goals. 
  
 “Performance Award Agreement” means, with respect to each Performance Award, the signed written agreement between the Company and the
Participant setting forth the terms and conditions of the Performance Award. 
  
 “Plan” means this Entegris, Inc. 1999 Long-Term Incentive and Stock Option Plan, as amended from time to time. 
  
 “Restricted Stock Award” means an award of Shares subject to forfeiture and transfer restrictions as determined by the Committee. 
  
 “Restricted Stock Award Agreement” means, with respect to each
Restricted Stock Agreement, the signed written agreement between the Company and the Participant setting forth the terms and conditions of the Restricted Stock Award. 
  
 “Revenue Code” means the Internal Revenue Code of 1986, as amended. 
  
 “SEC” means the Securities and Exchange Commission. 
  

 10 

 “Securities Act” means the Securities Act of 1933, as amended. 
  
 “Shares” mean shares of the Company’s Common Stock, $.01 par
value per share, reserved for issuance under this Plan, as adjusted pursuant to Sections 3 and 18 and any successor security. 
  
 “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if, at the time of
granting of the Option, each of the corporations other than the last corporation in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in
such chain. 
  

 11

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