Document:

EX-10.79

	 	 	 	 	 

Exhibit 10.79

Gen-Probe Incorporated

Second Amendment to

Deferred Issuance Restricted Stock Conversion Agreement

and

Deferred Issuance Restricted Stock Election Agreement

(The 2003 Incentive Award Plan)

     This Second Amendment (the “Amendment”) to the Deferred Issuance Restricted Stock Conversion
Agreement (“Conversion Agreement”) and Deferred Issuance Stock Election Agreement (the “Election
Agreement”) entered into by and between Gen-Probe Incorporated (the “Company”) and Henry L.
Nordhoff (“Employee”) is effective as of October 31, 2008.

     Whereas, on June 1, 2004 and August 15, 2003 the Company granted Employee awards of
the Company’s restricted stock totaling 40,000 shares of the Company’s common stock (together the
“Restricted Stock Awards”) pursuant to Article VII of the 2003 Incentive Award Plan of Gen-Probe
Incorporated (the “Plan”).

     Whereas, effective as of September 10, 2004 (the “Conversion Date”), the 40,000
shares of Company common stock subject to the Restricted Stock Awards were converted into a
Deferred Issuance Restricted Stock Award for 40,000 shares of the Company’s common stock, which
converted award became governed by the terms and conditions set forth in the Conversion Agreement
(the “Deferred Issuance Award”).

     Whereas, effective as of September 10, 2004, the agreements evidencing the Restricted
Stock Awards were amended and restated in the form of a Deferred Issuance Restricted Stock Award
Agreement (the “Deferred Issuance Award Agreement”).

     Whereas, pursuant to the terms of the Conversion Agreement and the Employee’s
Election Agreement, the shares of common stock subject to the Deferred Issuance Award were to first
become issuable upon the earlier of (i) Employee’s Termination of Service (as defined in the
Deferred Issuance Award Agreement), or (ii) the date or dates of issuance selected by Employee
pursuant to an irrevocable prior election in accordance with the Election Agreement.

     Whereas, in October 2004, Congress passed the American Jobs Creation Act of 2004 (the
“AJCA”), which included the adoption of new Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”), and effective February 1, 2005, the Company and the Employee entered into an
amendment to the Conversion Agreement and Election Agreement (the “Prior Amendment”) to amend the
distribution terms of the Conversion Agreement and the Election Agreement to provide that such
provisions would not create any adverse tax consequences pursuant to Code Section 409A.

     Whereas, in April 2007, final regulations were issued with respect to Code Section
409A, and the Company and the Employee wish to amend certain provisions of the Conversion Agreement
and the Election Agreement, as amended by the Prior Amendment, pursuant to the terms and conditions
set forth below.

 

 

     Now, Therefore, in consideration of the mutual covenants herein contained and other
good and valuable consideration, the receipt of which is hereby acknowledged, the Company and
Employee hereby agree as follows:

     1. Subject to the vesting schedule evidenced in the Conversion Agreement, the shares of common
stock subject to the Deferred Issuance Award shall become first issuable upon the earlier of:
(i) the Employee’s Termination of Service (as defined in the Deferred Issuance Award Agreement),
provided that such termination constitutes a “separation from service” within the meaning of
Treasury Regulation Section 1.409A-1(h), or (ii) the date or dates of issuance selected by Employee
pursuant to his irrevocable prior election in accordance with the Election Agreement; provided,
however, that notwithstanding the foregoing or any provision contained in the Conversion Agreement,
the Deferred Issuance Award Agreement or the Election Agreement to the contrary, the shares
issuable pursuant to Employee’s Deferred Issuance Award shall be issued to Employee in a manner
that complies with the requirements of Section 409A of the Code. Accordingly, to the extent
delayed commencement of any portion of the issuance is required in order to avoid a prohibited
distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of the issuance shall not be
provided to the Employee prior to the earlier of the expiration of the six-month period measured
from the date of the Termination of Service or the date of the Employee’s death. Upon the first
business day following the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral
period, any issuance deferred pursuant to this Section shall be issued to the Employee. Nothing in
this Section 1 shall require the issuance of shares to Employee earlier than they would otherwise
be issued under the terms of the Conversion Agreement, the Prior Amendment or the Election
Agreement.

     2. Employee acknowledges receipt of, and understands and agrees to the terms of, the
Conversion Agreement (as amended by this Amendment), the Election Agreement (as amended by this
Amendment), the Deferred Issuance Award Agreement and the Plan. Employee further acknowledges that
effective as of the date first stated above, the Conversion Agreement (as amended by this
Amendment), the Election Agreement (as amended by this Amendment), the Deferred Issuance Award
Agreement and the Plan set forth the entire understanding between Employee and the Company
regarding the acquisition of shares subject to the converted Deferred Issuance Award and supersedes
all prior oral and written agreements on that subject without exception. Employee acknowledges and
agrees that he has had an opportunity to obtain the advice of counsel prior to executing this
Amendment and fully understands all provisions of this Amendment.

     3. This Amendment shall be administered, interpreted and enforced under the laws of the State
of California without regard to conflicts of laws principles thereof. Employee agrees upon request
to execute any further documents or instruments necessary or desirable in the sole determination of
the Company to carry out the purposes or intent of this Amendment.

     4. This Amendment may not be modified, amended or terminated except by an instrument in
writing, signed by Employee and by a duly authorized representative of the Company.

 

 

     5. If all or any part of this Amendment or the Plan is declared by any court or governmental
authority to be unlawful or invalid, such unlawfulness or invalidity shall not invalidate any
portion of this Amendment or the Plan not declared to be unlawful or invalid. Any section of this
Amendment (or part of such a section) so declared to be unlawful or invalid shall, if possible, be
construed in a manner which will give effect to the terms of such section or part of a section to
the fullest extent possible while remaining lawful and valid.

     In witness whereof, this Amendment is executed by the parties hereto effective as of the first
date set forth above.

	 	 	 	 	 	 	 	 	 
	Gen-Probe Incorporated	 	 	 	Henry L. Nordhoff	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	/s/ Henry L. Nordhoff	 	 
	 

	 	 	 	 	 	 

	 	 
	By:

	 	/s/ Diana De Walt
 
 Diana
De Walt	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Title: Senior Vice President, Human Resources  	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Date: October 31, 2008	 	 	 	Date: October 17, 2008EX-10.82

Exhibit 10.82

AMENDMENT TO EMPLOYMENT AGREEMENT

     This Amendment to Employment Agreement (the “Amendment”) is entered into as of October 31,
2008 (the “Effective Date”), between Carl W. Hull (the “Executive”) and Gen-Probe Incorporated, a
Delaware corporation (“Gen-Probe”).

RECITALS

     WHEREAS, on February 13, 2007, the Executive and Gen-Probe entered into an Employment
Agreement, which agreement was amended and restated effective as of March 1, 2008 (as amended and
restated, the “Agreement”) which sets forth the terms of the Executive’s employment with Gen-Probe
and provides for benefits upon the occurrence of certain terminations of Executive’s employment;
and

     WHEREAS, the parties wish to amend certain provisions of the Agreement to reflect recent
changes affecting the taxation of deferred compensation arrangements under Section 409A of the
Internal Revenue Code of 1986, as amended, pursuant to the terms and conditions set forth below.

AGREEMENT

     NOW THEREFORE, in consideration of the foregoing and the mutual agreements contained herein,
the parties hereby agree as follows effective as of the Effective Date. Except as otherwise
defined herein, capitalized terms shall have the meanings assigned to them in the Agreement.

     1. The following shall be added at the end of Section 4:

     “To the extent that reimbursements made pursuant to this Agreement are subject to the
provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), (a) the
reimbursement shall be made no later than December 31 of the calendar year following the year in
which the expense was incurred, (b) the amount of expenses reimbursed in one year shall not affect
the amount eligible for reimbursement in any subsequent year, and (c) the Executive’s right to
reimbursement under this Section 4 will not be subject to liquidation or exchange for another
benefit.”

     2. The initial text of Section 7 preceding Section 7(a) shall be amended in its entirety to
read as follows:

     “If Gen-Probe terminates the Executive’s employment for reasons other than for Cause, or if
the Executive terminates his employment for Good Reason, and such termination constitutes a
“separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h) (a
“Separation from Service”), the Executive shall be entitled to receive as liquidated damages, the
following severance benefits:”

 

 

     3. Section 7(a) of the Agreement shall be amended in its entirety to read as follows:

     “(a) Salary.

          (i) Unless the Executive’s termination under this Section 7 occurs within eighteen (18) months
after a Change in Control, the Executive shall continue to receive his base salary, at the rate in
effect at the time of his termination of employment, in monthly installments following termination
and continuing for an aggregate period of twelve (12) months (the “Salary Continuation Period”),
except that any payments that would otherwise have been made before the sixtieth (60th) day after
the date of termination of the Executive’s employment (the “First Payment Date”) shall be made on
the First Payment Date.

          (ii) If the termination under this Section 7 occurs in connection with a Change in Control,
then the Executive shall receive a lump sum payment as described in this Section 7(a)(ii). For
purposes of this Agreement, “Change in Control” shall have the meaning set forth on Attachment “1”
to this Agreement (hereby incorporated by reference). A termination shall be “in connection with”
a Change in Control if the termination occurs within the period six (6) months prior to or eighteen
(18) months after a Change in Control (and in the event that the termination occurs during the six
(6) months prior to a Change in Control, subject to the consummation of the Change in Control and
the transaction constituting a change in the ownership or effective control of Gen-Probe or a
change in the ownership of a substantial portion of the assets of Gen-Probe, as described in
Treasury Regulation Section 1.409A-3(i)(5)). The lump sum payment will be payable on the later of
(A) five (5) days after the Change in Control, or (B) sixty (60) days after the date of the
termination of employment. If the termination occurred within the six (6) months prior to a Change
in Control, the amount of the lump sum payment pursuant to this Section 7(a)(ii) shall be equal to
six (6) months’ base salary (and shall be in addition to the installment payments described in
Section 7(a)(i)); if the termination occurs within eighteen (18) months after a Change in Control,
the amount of the lump sum payment pursuant to this Section 7(a)(ii) shall be equal to eighteen
(18) months’ base salary.”

     4. Section 7(b) of the Agreement shall be amended in its entirety to read as follows:

     “(b) Bonus. If the termination under this Section 7 occurs in connection with a
Change in Control, then the Executive shall be entitled to receive, in lieu of the bonus provided
in Section 3(b) and in addition to the salary payment described in Section 7(a) above, an amount
equal to two times the greater of (i) the Executive’s targeted level bonus in the year of the
termination, or (ii) the Executive’s highest discretionary bonus in the preceding three years. The
amount payable shall be paid in a lump sum at the same time as the salary compensation paid under
subsection (a)(ii) above. No bonus compensation shall be payable under this Section 7 unless the
termination occurs in connection with a Change in Control.”

     5. Section 7(g) of the Agreement shall be amended in its entirety to read as follows:

     “Notwithstanding any provision to the contrary in this Agreement, if Executive is deemed by
Gen-Probe at the time of his Separation from Service to be a “specified employee” for purposes of
Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the
benefits to which Executive is entitled under this Agreement is required in order to

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avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of
Executive’s benefits shall not be provided to Executive prior to the earlier of (i) the expiration
of the six-month period measured from the date of the Executive’s Separation from Service or (ii)
the date of Executive’s death. Upon the first business day following the expiration of the
applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section
7(g) shall be paid in a lump sum to Executive (or the Executive’s estate or beneficiaries), and any
remaining payments due under the Agreement shall be paid as otherwise provided herein. For
purposes of Section 409A of the Code, Executive’s right to receive the payments of compensation
pursuant to the Agreement shall be treated as a right to receive a series of separate payments and
accordingly, each payment shall at all times be considered a separate and distinct payment.”

     6. Except as set forth herein, all other terms and conditions of the Agreement shall remain in
full force and effect.

     7. This Amendment shall be governed by the law of the State of California as such laws are
applied to agreements between California residents entered into and to be performed entirely within
the State of California.

     IN WITNESS WHEREOF, the parties have executed this Amendment as of the Effective Date.

	 	 	 	 	 	 	 
	 	 	EXECUTIVE	 	 
	 
	 	 	 	 	 	 
	 	 	          /s/ Carl W. Hull	 	 
	 	 	 	 	 
	 	 	Carl W. Hull	 	 
	 
	 	 	 	 	 	 
	 	 	GEN-PROBE INCORPORATED	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Diana De Walt	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Its: Senior Vice President, Human Resources	 	 

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