Document:

wm_Ex10_1

		

			

		

		
			EXHIBIT 10.1
		

		
			September 10, 2018
		

		
			 
		

		
			PERSONAL AND CONFIDENTIAL
		

		
			 
		

		
			Mike Watson
		

		
			 
		

		
			 
		

		
			Dear Mike,
		

		
			 
		

		
			I am pleased to offer you the position of Senior Vice President and Chief Customer Officer for Waste Management. In your new role, you will be reporting to the Chief Executive Officer effective October 1, 2018.    
		

		
			 
		

		
			Please keep in mind that upon accepting this position, you acknowledge your voluntary agreement to terminate any prior verbal or written employment agreements you may have had with Waste Management, and to forgo any benefits contained therein.  
		

		
			 
		

		
			The following are the new terms and conditions of your employment and these supersede any previous terms.  However, neither your new terms of employment nor anything in this letter shall alter your at-will status nor the terms of any previously executed Loyalty and Confidentiality Agreement.  Your signature in the space provided indicates your acceptance of our offer on these terms and conditions.
		

		
			 
		

		
			Base Salary: Your annualized salary will be Four Hundred Fifty Thousand Dollars ($450,000) payable in accordance with the Company’s standard payroll practice for salaried employees.  Your base salary will be subject to review on an annual basis and may be adjusted based on merit.
		

		
			 
		

		
			Annual Incentive (Bonus) Plan:  You will be eligible to participate in our Executive Incentive Plan (EIP), with a target of 75% of your base salary.  Eligibility, qualification, and calculation of any bonus are governed by the applicable Waste Management Incentive Compensation Plan and any payment is subject to the approval of the Compensation Committee of Waste Management’s Board of Directors.  The bonus, if any, will be paid in the year following the subject bonus year.  
		

		
			 
		

		
			For 2018, your bonus will be prorated to reflect your base, bonus target and Area results in your current role and base, bonus target and Corporate results in this role.    To be eligible for a bonus, you must be employed through the end of the year in which the bonus is calculated.
		

		
			 
		

		
			Long Term Incentive Plans:  You will be eligible to participate in any long-term incentive plans that may be in place for similarly placed executives from time to time.  Currently, this plan consists of awards of stock options and performance share units, generally awarded annually.  
		

		
			 
		

		
			The next award you would be eligible to receive (if deemed appropriate) will be distributed in early 2019.  Exclusively the provisions of the applicable incentive plan will govern the award, vesting and exercise of all incentive awards.
		

		
			 
		

		
			Vacation: Your vacation allowance will remain the same.
		

		
			 
		

		
			Benefits: Your benefit plan will remain the same.
		

		
			 
		

		
			

		 

 

		

			 

		

		

			 

		

		

		
			Relocation:  You will be eligible for relocation benefits per the Company’s Senior Executive Relocation policy.
		

		
			 
		

		
			To be a world-class organization, it is our philosophy at Waste Management that we must have a solid foundation on which to build.  One of the most important parts of that foundation is our employees, and it is our goal to provide an environment of mutual trust and respect that will enable the continued growth and success of each member of our team.  With your professional capabilities and accomplishments, we believe you will be a great asset to the Senior Leadership Team.  
		

		
			 
		

		
			Please acknowledge your acceptance of this offer, and the terms and conditions of your employment, by signing this letter.
		

		
			 
		

		
			If you have any questions, I can be contacted at (713) 394-2213.
		

		
			 
		

		
			Sincerely,
		

		
			 
		

		
			/s/ Jim Fish
		

		
			
		

		
			Jim Fish
		

		
			President and Chief Executive Officer
		

		
			
		

		
			
		

		
			 
		

		
			AGREED and ACCEPTED this 11th day of September, 2018
		

		
			 
		

		
			 
		

		
			/s/ Michael Watson
		

		
			SignatureEXHIBIT 4.2

THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE COMPANY’S PROSPECTUS DATED [•], 2018 (THE “PROSPECTUS”) AND ARE INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM BROADRIDGE CORPORATE ISSUER SOLUTIONS, INC., THE SUBSCRIPTION AGENT, BY CALLING (888)-789-8409. 

PULSE BIOSCIENCES, INC.

Incorporated under the laws of the State of Delaware

NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE

Evidencing Non-Transferable Subscription Rights to Purchase Shares of

Common Stock, Par Value $0.001 per share, of Pulse Biosciences, Inc.

Subscription Price: $[•] per full share

THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR BEFORE

5:00 P.M., EASTERN TIME, ON [•], 2018

REGISTERED OWNER:

THIS CERTIFIES THAT the registered owner whose name is inscribed hereon is the owner of the number of non-transferable subscription rights (“Rights”) set forth above. The Rights entitle the holder thereof to subscribe for and purchase shares of common stock, par value $0.001 per share (the “Common Stock”), of Pulse Biosciences, Inc., a Delaware corporation (the “Company”), at a subscription price of $[•] per full share, pursuant to a rights offering (the “Rights Offering”), on the terms and subject to the conditions set forth in the Prospectus. 

Each Right includes a subscription right. Under the subscription right, for each share of common stock owned as of the record date of the Rights Offering, the holder hereof is entitled to purchase [•]shares of Common Stock at the subscription price of $[•] per full share.

The Rights represented by this Subscription Rights Certificate may be exercised by completing Form 1 and any other appropriate forms on the reverse side hereof and by returning the full payment of the subscription price for each share of Common Stock in accordance with the instructions contained herein.

This Non-Transferable Subscription Rights Certificate is not valid unless countersigned by Broadridge Corporate Issuer Solutions, Inc., the Subscription Agent. Witness the seal of Pulse Biosciences, Inc. and the signatures of its duly authorized officers.

DATED: [•], 2018

	
   

	
 

	
President and Chief Executive Officer

	
Secretary

DELIVERY OPTIONS FOR NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE

Deliver other than in the manner or to the addresses listed below will not constitute valid delivery.

	
If delivering by hand or overnight courier:

	
If delivering by first class mail:

	
   

	
 

	
Broadridge Corporate Issuer Solutions, Inc.

Attn: BCIS IWS

51 Mercedes Way

Edgewood, NY 11717

	
Broadridge Corporate Issuer Solutions, Inc.

Attn: BCIS Re-Organization Dept.

P.O. Box 1317

Brentwood, NY 11717-0718

1

PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY.

	
SECTION 1 – EXERCISE OF SUBSCRIPTION RIGHTS

	
 

	
         To subscribe for shares of Common Stock pursuant to your subscription right, please complete lines (a) and (b) and sign in part (c). If you do not indicate the number of Rights being exercised, or if you do not forward the full subscription payment for the number of Rights that you indicate are being exercised, then you will be deemed to have exercised the maximum number of Rights that may be exercised with the aggregate subscription payment you delivered to the Subscription Agent. Fractional shares of our Common Stock resulting from the exercise of the subscription rights will be eliminated by rounding down to the nearest whole share, with the total subscription payment being adjusted accordingly. Any excess subscription payments received by the Subscription Agent will be returned, without interest, as soon as practicable.

	
 

	
(a)

	
EXERCISE OF SUBSCRIPTION RIGHT :

	
   

	
 

	
 

	
(i)

	
Basic Subscription Right

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
I exercise

	
____________rights

	
x

	
[•]

	
=

	
 

	
x

	
$[•]

	
=

	
$

	
 

	
 

	
 

	
(no. of rights)

	
x

	
(ratio)

	
=

	
(no. of new shares)

	
x

	
(subscription price)

	
 

	
(amount enclosed)

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
(ii)

	
Over-Subscription Right: If you fully exercise your Basic Subscription Right, above, and wish to subscribe for additional shares, you may exercise your Over-Subscription Right below.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
I exercised

	
 

	
x

	
$[•]

	
=

	
$

	
 

	
 

	
 

	
 

	
 

	
(no. of over-subscription shares subscribed for)

	
x

	
(subscription price)

	
=

	
(amount enclosed)

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
(b)

	
PAYMENT :

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Amount Enclosed

	
 

	
 

	
 

	
 

	
 

	
 

	
Basic Subscription Right:

	
$

	
 

	
 o   Check or bank draft drawn on a U.S. bank, or postal or express money order payable to Broadridge Corporate Issuer Solutions, Inc., as Subscription Agent.

	
Over-Subscription Right:

	
$

	
 

	
 o   Wire transfer directly to the escrow account maintained by Broadridge Corporate Issuer Solutions, Inc., as Subscription Agent.

	
Total Amount Enclosed:

	
$

	
 

 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Method of Payment All payments must be made in U.S. dollars by wire transfer of funds, U.S. Postal money order or cashier’s, certified, or uncertified check drawn upon a U.S. bank payable to “Broadridge Corporate Issuer Solutions, Inc. (acting as Subscription Agent for Pulse Biosciences Inc.)”. The Subscription Agent will not accept payment by any other means.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
(c)

	
SIGNATURE(S) :

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
TO SUBSCRIBE: I acknowledge that I have received the Prospectus for the rights offering and I hereby irrevocably subscribe for the number of shares indicated above on the terms and conditions specified in the Prospectus. I hereby agree that if I fail to pay for the shares of Common Stock for which I have subscribed, Pulse Biosciences, Inc. may exercise its legal remedies against me.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
This form must be signed by the registered holder(s) exactly as their name(s) appear(s) on the certificate(s) or by person(s) authorized to sign on behalf of the registered holder(s) by documents transmitted herewith.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Signature(s) of Subscriber(s)

	
Date

	
Daytime Telephone Number(s)

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
If signature is by trustee(s), executor(s), administrator(s), guardian(s), attorney(s)-in-fact, agent(s), officer(s) of a corporation or another acting in a fiduciary or representative capacity, please provide the following information (please print). See the instructions.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Name(s)

	
Full Title

	
Taxpayer ID # or Social Security #

	
Date

	
 

2

	
 

	
SECTION 2 – SPECIAL ISSUANCE OR DELIVERY INSTRUCTIONS FOR SUBSCRIPTION RIGHTS HOLDERS

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
(a) To be completed ONLY if the certificate representing the Common Stock is to be issued in a name other than that of the registered holder. (See the Instructions.)

 DO NOT FORGET TO COMPLETE THE GUARANTEE OF SIGNATURE(S) SECTION BELOW.

	
(b) To be completed ONLY if the certificate representing the Common Stock is to be issued to an address other than that shown on the front of this certificate. (See the Instructions.)

 DO NOT FORGET TO COMPLETE THE GUARANTEE OF SIGNATURE(S) SECTION BELOW.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Print Full Name:

	
 

	
 

	
Print Full Name:

	
 

	
 

	
Print Full Address:

	
 

	
 

	
Print Full Address:

	
 

	
 

	
Taxpayer ID # or Social Security #:

	
 

	
 

	
Taxpayer ID # or Social Security #:

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
SIGNATURE GUARANTEE

This must be completed if you have completed any portion of Section 2.

	
Signature Guaranteed:

	
 

	
 

	
 

	
 

	
 

	
 

	
(Name of Bank or Form)

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	
 

	
 

	
         (Signature of Officer)

	
 

	
 

	
 

	
IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor institution (bank, stock broker, savings & loan association or credit union) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15.

FOR INSTRUCTIONS ON THE USE OF NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATES, CONSULT BROADRIDGE CORPORATE ISSUER SOLUTIONS, INC., THE SUBSCRIPTION AGENT, AT (888)-789-8409 (TOLL-FREE). THE RIGHTS OFFERING EXPIRES AT 5:00 P.M., EASTERN TIME, ON [•], 2018, AND THIS NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE IS VOID THEREAFTER.

THE RIGHTS OFFERING HAS BEEN REGISTERED OR QUALIFIED OR IS BELIEVED TO BE EXEMPT FROM REGISTRATION OR QUALIFICATION ONLY UNDER THE FEDERAL LAWS OF THE UNITED STATES AND THE LAWS OF THE STATES IN THE UNITED STATES. RESIDENTS OF OTHER JURISDICTIONS MAY NOT PURCHASE THE SECURITIES OFFERED HEREBY UNLESS THEY CERTIFY THAT THEIR PURCHASES OF SUCH SECURITIES ARE EFFECTED IN ACCORDANCE WITH THE APPLICABLE LAWS OF SUCH JURISDICTIONS.

3

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