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Exhibit 10.15  

 
 

RESTRICTED STOCK AGREEMENT    
    

        This Restricted Stock Agreement is entered into by and between Taliera Corporation, a Delaware corporation (the "Company"), and Michael V. Cheek, a member of the
Company's Board of Directors (the "Director"), effective as of July 18, 2006. 

 
 

Background    
    

        The Company desires to provide incentives to recognize and reward the Director, whose performance, contributions, and skills will be critical to the Company's
success, by aligning his interests with those of the Company's shareholders. As a result, the Company has agreed to grant the Director restricted shares of unregistered common stock of Company,
subject to the terms and conditions provided in this Restricted Stock Agreement. 

        In
consideration of the premises, the Company and the Director agree as follows: 

 
 

Agreement    
    

        1.    Grant. The Company grants the Director certain shares of unregistered common stock of the Company, which shares
("Restricted Shares") shall be subject to the restrictions specified in this Restricted Stock Agreement. Except as otherwise provided herein, the Company hereby grants to the Director 18,750 whole
Restricted Shares with a fair market value ("Value") equal to $0.0014 per Restricted Share of the Company's unregistered common stock. 

        2.    Closing. The transfer of the Restricted Shares (the "Closing") shall occur simultaneously with the execution of this
Agreement. Concurrently with the execution of this Agreement, (i) the Company shall deliver to the Director a certificate, registered in the Director's name, representing the Restricted Shares,
and (ii) the Director shall deliver to the Company a duly executed (A) stock power, endorsed in blank, relating to the Restricted Shares, and (B) a duly signed election under
Internal Revenue Code Section 83(b), with respect to the grant of the Restricted Shares, provided that the Director intends to make such an election at the Closing. 

        3.    Custody. The Director understands that, although the certificates representing the Restricted Shares shall be registered
in the Director's name, all such certificates (other than for Restricted Shares that have vested) shall be deposited, together with the stock power executed by the Director, in proper form for
transfer, with the Company. The Company is hereby authorized to effectuate the transfer into its name of all certificates representing the Restricted Shares that are forfeited to the Company pursuant
to paragraph 5 of this Restricted Stock Agreement. As of the vesting date of any Restricted Shares, the Company shall, subject to any applicable securities law restrictions, deliver to the
Director or his personal representative, the certificates representing such vested shares. 

        4.    Nontransferability of Restricted Shares. Until such time as the Restricted Shares become vested, the Director shall not
have any right to sell, transfer, pledge, hypothecate, or otherwise dispose of the Restricted Shares. The Director represents and warrants to the Company that he shall not sell, transfer, pledge,
hypothecate, or otherwise dispose of the Restricted Shares in violation of applicable securities laws or the provisions of this Restricted Stock Agreement. Except as expressly provided in this
Restricted Stock Agreement, all non-vested Restricted Shares shall be forfeited upon the Director's termination of service as a member of the Board of Directors of the Company. 

        5.    Vesting. The Restricted Shares granted under this Restricted Stock Agreement shall vest and become nonforfeitable as
follows: Except as otherwise provided herein, the grant of Restricted Shares shall vest at the rate of 33% per year as of the anniversary of the Grant Date; provided that the Director is a member of
the Board of Directors of the Company on such anniversary. In other words, Restricted Shares granted on the Grant Date shall become 1/3 vested on July 18, 2007,
2/3vested on July 18, 2008, and 100% vested on July 18, 2009 (assuming that the Director is a member of the Board of Directors of the Company on such vesting date). 

        6.    Forfeiture. In the event that the Director should cease being a member of the Board of Directors of the Company for any
reason prior to becoming 100% vested in the Restricted Shares, all Restricted Shares granted to the Director shall not further vest and the unvested portion of the Restricted Shares shall be
immediately forfeited (effective as of the date of such termination of service with the Board of Directors) and the Director shall cease to have any rights with respect to the unvested portion of the
Restricted Shares. 

        7.    Voting and Other Rights. The Director shall have all of the rights and status as a stockholder of the Company with respect
to the Restricted Shares, including the right to vote any and all Restricted Shares granted to him under this Restricted Stock Agreement and to receive dividends or other distributions thereon,
regardless of whether such Restricted Shares are vested, until the earlier of the date on which such Restricted Shares shall be forfeited as provided herein or the date on which the Director ceases to
own such shares. The Director understands that the grant of Restricted Shares to him under this Agreement does not confer upon him any right to continue as a director of the Company. 

        8.    Investment Representations. The Director represents and warrants to the Company that he is acquiring the Restricted Shares
for his own account for investment and not with a view to or for resale in connection with any distribution of the Restricted Shares and that he has no present intention of distributing or reselling
the Restricted Shares. The Director acknowledges that the certificate or certificates representing the Restricted Shares shall bear an appropriate legend relating to restrictions on transfer. 

        9.    Adjustments for Changes in Capitalization of the Company. In the event of any change in the outstanding shares of common
stock of the Company prior to the lapsing of the restrictions associated with the Restricted Shares by reason of any reorganization, recapitalization, stock split, stock dividend, combination or
exchange of shares, merger, consolidation, or any change in the corporate structure of the Company or in the shares of common stock, the number and class of the Restricted Shares shall be
appropriately adjusted by the Company, in its sole discretion, whose determination shall be conclusive. 

        10.    Securities Laws. The Director understands that applicable securities laws may restrict the right of the Director to
dispose of any Restricted Shares which the Director may acquire hereunder and govern the manner in which such Restricted Shares may be sold. The Director shall not offer, sell or otherwise dispose of
any of the Restricted Shares in any manner which would (a) require the Company to file any registration statement with the Securities Exchange Commission (the "SEC"), (b) require the
Company to amend or supplement any registration statement which the Company may at any time have on file with the SEC, or (c) violate the 1933 Act or any other state or federal law. 

        11.    Withholding Taxes. If the grant or other transfer of the Restricted Shares, or the vesting of the Restricted Shares,
results in taxable compensation income to the Director, the Director hereby authorizes the Company to collect any withholding taxes from the Director by lump sum payroll deduction or, if that is not
possible, the Director agrees to make direct payment of the applicable taxes to the Company. 

        12.    Integration. This Restricted Stock Agreement supersedes any and all prior and/or contemporaneous agreements, either oral
or in writing, between the parties hereto, with respect to the subject matter hereof. Each party to this Restricted Stock Agreement acknowledges that no representations, inducements, promises, or
other agreements, orally or otherwise, have been made by any party, or anyone acting on behalf of any party, pertaining to the subject matter hereof, which are not embodied herein, and that no prior
and/or contemporaneous agreement, statement or promise pertaining to the subject matter hereof that is not contained in this Restricted Stock Agreement shall be valid or binding on either party. 

        13.    Successors. This Agreement shall be binding upon and inure to the benefit of any successor of the Company and any
successors, assigns or estate of the Director, including his executors, administrators and trustees. 

        14.    Amendment. No provision of this Restricted Stock Agreement may be modified, waived or discharged unless such waiver,
modification or discharge is in writing and signed by the party against whom such modification, waiver or discharge is sought to be enforced. 

        15.    Governing Law. The validity, interpretation, construction and performance of this Restricted Stock Agreement will be
governed by and construed in accordance with the substantive laws of the State of Indiana, without giving effect to the principles of conflict of laws of such State. To the extent that this Restricted
Stock Agreement is considered deferred compensation and subject to Internal Revenue Code Section 409A and the guidance
thereunder, it shall be construed accordingly. In such event, any provision of this Restricted Stock Agreement that does not comply with Section 409A and the guidance thereunder shall be null
and void. 

        16.    Binding Agreement. By signing below, the Company and the Director agree to be bound by the terms and conditions of this
Restricted Stock Agreement. 

[SIGNATURE
PAGE FOLLOWS] 

        IN
WITNESS WHEREOF, the Company and the Director have executed this Restricted Stock Agreement, effective as of the date specified in the first paragraph hereof. 

	

 	
 	

TALIERA CORPORATION
	

/s/  MICHAEL CHEEK      
 Michael V. Cheek	
 	

By:	

/s/  J. SMOKE WALLIN      
 J. Smoke Wallin, President and CEO

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RESTRICTED STOCK AGREEMENT

Background

AgreementExhibit 10.16  

                        ,
2006 

Morgan
Joseph & Co., Inc.

600 Fifth Avenue, 19th Floor

New York, New York 10020 

Ladies
and Gentlemen: 

        This
letter will confirm the agreement of the undersigned to purchase warrants ("Warrants") of Taliera Corporation ("Company") included in the units ("Units") being sold in the Company's
initial public offering ("IPO") upon the terms and conditions set forth herein. Each Unit is comprised of one share of common stock of the Company (the "Common Stock") and one Warrant to purchase a
share of Common Stock. The shares of Common Stock and Warrants will not be separately tradable until 90 days after the effective date of the Company's IPO unless Morgan Joseph &
Co., Inc. ("Morgan Joseph") informs the Company of its decision to allow earlier separate trading. 

        The
undersigned agrees that on the date hereof it will enter into an agreement or plan in accordance with the guidelines specified by Rule 10b5-1 under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), with an independent broker-dealer (the "Broker") registered under Section 15 of the Exchange Act which is neither affiliated with the
Company, Morgan Joseph nor part of the underwriting or selling group, pursuant to which the Broker will purchase up to $600,000 of Warrants in the public marketplace for the undersigned's account
during the forty-trading day period commencing on the later of (i) the date separate trading of the Warrants has commenced or (ii) 60 calendar days after the end of the restricted period
under Regulation M, at market prices not to exceed $1.20 per Warrant ("Maximum Warrant Purchase"). The undersigned shall instruct the Broker to fill such order in such amounts and at such times
as the Broker may determine, in its sole discretion, during the forty-trading day period described above. 

        As
the date hereof, the undersigned represents and warrants that it is not aware of any material nonpublic information concerning the Company or any securities of the Company and is
entering into this agreement in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b5-1. The undersigned agrees that while this agreement is in
effect, the undersigned shall comply with the prohibition set forth in Rule 10b5-1 (c) (1) (i) (C) against entering into or altering a corresponding or hedging
transaction or position with respect to the Company's securities. The undersigned further agrees that is shall not, directly or indirectly, communicate any material nonpublic information relating to
the Company or the Company's securities to any employee of Morgan Joseph or the Broker. The undersigned does not have, and shall not attempt to exercise, any influence over how, when or whether to
effect purchases of Warrants pursuant to this agreement or the plan or agreement with the Broker. 

        The
undersigned shall instruct the Broker to make, keep, and produce promptly upon request a daily time-sequenced schedule of all Warrant purchases made pursuant to this
agreement, on a transaction-by-transaction basis, including (i) size, time of execution, price of purchase; and (ii) the exchange, quotation system, or other
facility through which the Warrant purchase occurred. 

        The
undersigned agrees that the undersigned shall not sell or transfer the Warrants until the earlier of the consummation of a merger, capital stock exchange, asset acquisition or other
similar business combination involving the Company and acknowledges that, at the option of Morgan Joseph the certificates for such Warrants shall contain a legend indicating such restriction on
transferability, it being understood that the Warrants purchased will be non-callable by the Company as long as they are held by the undersigned. 

        This
letter agreement shall for all purposes be deemed to be made under and shall be construed in accordance with the laws of the State of Delaware, with regard to the conflicts of laws
principals thereof. This Agreement shall be binding upon the undersigned and the heirs, successors and assigns of the undersigned. 

	

 	
 	

Very truly yours,
	

 	
 	

Taliera Holding, LLC
	

 	
 	

By:	

 J. Smoke Wallin, CEO

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