Document:

Letter Agreement

 EXHIBIT 10.2 
  
 February 26, 2004 
  
 Ms. Sharon Glickman 
 12323 N.W. 10th Drive 
 Coral Springs, FL 33071 
  
 Dear Sharon: 
  
 This letter sets forth the terms on which SportsLine.com, Inc. (the “Company”) agrees to provide you certain
compensation in the event (i) your employment with the Company is terminated other than for Cause (as hereinafter defined) or (ii) you terminate your employment for Good Reason (as hereinafter defined). We have agreed as follows: 
  
 1. If the Company terminates your employment other than for Cause or you terminate your
employment for Good Reason, then: 
  

	 	(a)	within thirty (30) days after the date your employment is terminated, the Company will pay you an amount equal to the sum of (i) any unpaid amounts of your base salary accrued prior
to the date of termination and (ii) a pro rata portion of the most recent annual bonus paid to you (taking into consideration any accrued but unpaid incentive compensation paid to you pursuant to this paragraph) based on the number of days elapsed
in the current fiscal year prior to the date of termination, together with any accrued incentive compensation and other amounts to which you are then entitled under any plan, policy, practice or program of the Company at the time such payments are
due; 

  

	 	(b)	in lieu of any further salary, incentive compensation or other payments for periods subsequent to the date of termination, and as a severance benefit, the Company will pay you in
equal bi-weekly installments for a period of one (1) year following the date of termination an amount equal to the sum of (i) your annual base salary in effect immediately prior to the date of termination, plus (ii) an amount equal to the
greater of (x) the average annual bonus paid to you for the prior three years or (y) the amount of the most recent annual bonus paid to you; and 

  

	 	(c)	 all unvested Awards (as defined in the Company’s 1997 Incentive Compensation Plan), including but not limited to stock options and/or shares of restricted
stock, held by you at the time your employment is terminated will immediately vest and upon vesting shall (i) in the case of stock options, become exercisable and (ii) in the case of restricted stock, no longer be subject to forfeiture or any other

  

	 	 
conditions or restrictions on transfer; and all such stock options, together with any previously vested and unexercised stock options, shall be exercisable
by you in accordance with their respective terms for a period of one (1) year following the termination of your employment or, if earlier, until the then scheduled expiration date(s) of such options. 

  
 2. For purposes of this letter: 
  
 “Cause” shall mean means: (i) the willful and continued failure by
you to substantially perform your duties, after a demand for substantial performance is delivered to you by the Company specifically identifying the manner in which the Company believes you have not substantially performed your duties, and you shall
have failed to resume substantial performance of such duties within thirty (30) days of receiving such demand, (ii) the willful engaging by you in criminal conduct (including embezzlement and criminal fraud) which is demonstrably and materially
injurious to the Company, monetarily or otherwise, or (iii) the conviction of you of a felony (other than a traffic violation) or the conviction of you of a misdemeanor which impairs your ability substantially to perform your duties with the
Company. For purposes of this paragraph, no act, or failure to act, on your part shall be considered “willful” unless done, or omitted to be done, by you not in good faith and without reasonable belief that your action or omission was in
the best interest of the Company. 
  
 3. For purposes of this letter: 

 
 “Good Reason” shall mean, without your prior consent, the
occurrence of any one or more of the following: (A) a reduction by the Company in your base salary as the same shall be increased from time to time; (B) the Company’s requiring you to be based at a location outside of Broward County, Florida;
or (C) a failure of the Company to obtain a satisfactory agreement from any successor to the Company to assume and agree to perform the obligations as set forth herein. Notwithstanding anything in this letter agreement to the contrary Good Reason
shall not be deemed to exist as a result of one or more of the following: (i) changes in nature or status of your position, authority, duties or responsibilities solely as a result of the Company becoming part of a unit or division of a larger
entity pursuant to or following a change of control; or (ii) any change in your title(s). 
  
 4. This letter agreement constitutes the entire agreement between you and the Company with respect to the subject matter hereof, superseding all other prior agreements and understandings, both written and oral,
between you and the Company. 
  
 5. This letter agreement will remain in effect
for so long as you remain employed by the Company or any subsidiary of the Company, or for so long as you remain employed by any successor to the Company. By signing below, you acknowledge that this letter agreement is not an employment agreement
and shall not confer upon you any right to employment or continuance of employment by the Company. 
  

 2 

 Please acknowledge your agreement to the foregoing by signing and returning a copy of this letter.

  

	
	 Very truly yours,

	
	/s/    MICHAEL LEVY        
	

	 Michael Levy,
 Chairman of the Board and
 Chief Executive Officer

  

	
	 Acknowledged and Agreed:

	
	/s/    SHARON GLICKMAN        
	

	Sharon Glickman

  

 3Letter Agreement

 Exhibit 10.61 
  
 REDACTED – OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE 
 COMMISSION AND IS DENOTED HEREIN BY ***** 
  
 December 14, 2003 
  

			
	 Robert S. Thomas
	 	Charles M. Swoboda
	 President & CEO
	 	President & CEO
	 Charles & Colvard, Ltd.
	 	Cree, Inc.
	 3800 Gateway Blvd. Suite 310
	 	4600 Silicon Drive
	 Morrisville, NC 27560
	 	Durham, NC 27703

  
 This letter, when signed on behalf of
Charles & Colvard, Ltd. (formerly C3 Inc.) and Cree, Inc., will serve as an agreement between Charles & Colvard and Cree amending the parties’ August 5th, 2002 letter agreement to provide the following terms, effective on and after December 29, 2003. 
  

	 	1.	Cree will supply SiC production crystals to Charles & Colvard, and Charles & Colvard will purchase SiC production crystals from Cree, according to the terms stated in this
agreement. 

  

	 	2.	Charles & Colvard will purchase ***** each quarter of calendar 2004 of “usable material” (where “usable material” will be determined in the manner described
in Paragraph 3) at a price of *****. Provided that Cree uses its best commercially reasonable efforts to deliver the quantities of usable material required by this agreement, Cree will not be held in breach for delays in delivery. As used in this
agreement, “quarter” refers to fiscal quarters of Cree ending during the indicated period. 

  

	 	3.	The quantity of “usable material” of crystals delivered to Charles & Colvard pursuant to this agreement will be determined according to the following:

  

	 	A.	Material will be graded according to the specifications in Attachment A. 

  

	 	B.	Grams of usable material will be calculated on a crystal by crystal basis according to the following equation: (usable mm) as a percent of total length of the crystal in mm
multiplied by the actual weight of the crystal in grams. “Usable mm” means millimeters of usable material as defined in Attachment A. 

  

	 	C.	Crystals shipped to Charles & Colvard must contain at least ***** of usable material for the 2” crystals or ***** for 3” crystals. This usable area must be contiguous.
Crystal diameter to be shipped will be 2” or 3” as determined by Cree. 

  

	 	4.	The obligations of the parties under Paragraph 4 of the August 5th, 2002 agreement are terminated. 

  

	 	5.	Except as provided above, the supply and purchase of SiC material will be governed by the terms and conditions of the parties’ Amended and Restated Exclusive Supply Agreement
dated June 6, 1997 (the “Supply Agreement”, as amended). 

  

	 	6.	The contents of this letter shall be considered “Confidential Information” of each party subject to the provisions of Section 5 of the Supply Agreement.

  

							
	 CHARLES & COLVARD, LTD.
	 	CREE, INC.
				
	 By:
	 	 /s/ Robert S. Thomas

	 	By:	 	 /s/ Charles M. Swoboda

	 	 	Robert S, Thomas	 	 	 	Charles M. Swoboda
	 	 	President & CEO	 	 	 	President & CEO
	 	 	Charles & Colvard Ltd.	 	 	 	Cree, Inc.

  

					
	 1 of 2
	  	Cree, Inc. and Charles and Colvard, Ltd. Proprietary	 	05/15/04

 REDACTED – OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE 
 COMMISSION AND IS DENOTED HEREIN BY ***** 
  
 ATTACHMENT A 
  
 Specification of usable material as referenced in paragraph 2 above. 
  
 COLOR: Usable material is calculated as “light gray” or “very light gray”. Specifically tone/color number 20 and 10 1 as used in the Charles & Colvard boule-grading screen will be considered acceptable tone and color material. (Note: Grade
10 is preferred. Grade 20 material will be valued at *****. 
  
 DEFECTS:

  
 Material volume of acceptable color will be reduced by the percentage of
the defects listed in the table below. Charles & Colvard shall set the acceptable standards for the quality of both the color and defects of all material purchased pursuant to this letter agreement. Unless otherwise mutually agreed by the
parties in writing, however, the grading of the material by both Cree and Charles & Colvard will adhere to those standards and methods identified in Notes 1-3 below, applied on a consistent basis in the same manner as applied during September,
October and November of calendar 2003. Should Charles & Colvard deem such standards and methods or new defects unacceptable, it can request changes to its volume commitment or the methods, standards or list of price reducing defects, with such
changes to be effective 60 days after giving Cree notice of the changes. Cree may request changes to its pricing and/or volume commitment. If the parties do not agree in writing on the changes to be made, before the effective date of the requested
changes, either party can terminate this agreement upon notice and, in that event, the Supply Agreement will govern the parties’ obligations thereafter. 
  

					
	ID

	  	 D-Type

	  	 
	1            	  	*****	  	Reduce
	2	  	*****	  	Reduce
	3	  	*****	  	Reduce
	4	  	*****	  	No reduction
	5	  	*****	  	Reduce
	6	  	*****	  	Reduce
	7	  	*****	  	No reduction
	8	  	*****	  	Reduce
	9	  	*****	  	Reduce

  
 Notes

  

	1	CH0257R 17.4mm tone/color 20 (lightest 20), new gray boules that are lighter than this will grade as 10, CE0269R 9.5mm tone/color 30 (lightest 30), new gray boules that are
lighter than this will grade as 20 

  

	2	Micropipe grading will be performed according to the Cree document identified as the CCG – 948 Dense Fine Pipe Grading procedure (Revision 12/3/03). The area determined
according to this procedure multiplied by 1.2, (“20% adder”), defines the area of non-usable material for micropipes. 

  

	3	Crystals CC0213R, CH0165R and CH0215R represent ***** grading. 

  

					
	 2 of 2
	  	Cree, Inc. and Charles and Colvard, Ltd. Proprietary	 	05/15/04

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