Document:

exv10w1

 

Exhibit 10.1

ENTREMED, INC.

9640 Medical Center Drive

Rockville, MD 20850

Tel (240) 864-2600

(240) 864-2623 Direct

Fax (240) 864-2624

June 21, 2006

Mr. Dane Saglio

Chief Financial Officer

EntreMed, Inc.

9640 Medical Center Drive

Rockville, MD 20850

Dear Dane,

The Compensation Committee has approved a one-year extension of your Employment Agreement for the
period commencing July 1, 2006 through June 30, 2007. All other terms of your Employment Agreement
remain in effect.

Please acknowledge your acceptance of the one-year extension by countersigning in the space below.

I look forward to continuing working with you.

Sincerely,

\s\ James S. Burns

James S. Burns

President & CEO

Agreed to and Accepted as

of the 21st day of June, 2006:

\s\ Dane R. Saglio

 

Dane R. Saglioexv10w9

 

Exhibit 10.9

Description of Salary and Bonus Arrangements for Certain
Executive Officers

     
Following is a description of the salary and bonus arrangements
for each of the named executive officers of webMethods, Inc.
(the “Company”) as of June 21, 2006:

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Maximum
	 	 	 	 	Potential Annual
	 	 	 	 	Bonus as a
	 	 	 	 	Percentage of
	Name and Title	 	Base Salary	 	Base Salary
	 	 	 	 	 
	
    
    David Mitchell

    	 	 	 	 	 	 	 	 
	 	
    President and Chief Executive Officer	 	$	450,000	 	 	 	75	%(1)
	 	 	 	 	 	 	 	 	 
	
    
    Richard Chiarello

    	 	 	 	 	 	 	 	 
	 	
    Executive Vice President and Chief Operating Officer	 	$	385,000	 	 	 	(2)	 
	 	 	 	 	 	 	 	 	 
	
    
    Mark Wabschall

    	 	 	 	 	 	 	 	 
	 	
    Executive Vice President, Chief Financial Officer and Treasurer	 	$	275,000	 	 	 	50	%(1)
	 	 	 	 	 	 	 	 	 
	
    
    Douglas McNitt

    	 	 	 	 	 	 	 	 
	 	
    Executive Vice President, General Counsel and Secretary	 	$	275,000	 	 	 	50	%(1)
	 	 	 		 	 	 	 	 
	
    
    Kristin Weller Muhlner

    	 	 	 	 	 	 	 	 
	 	
    Executive Vice President, Product Development	 	$	262,500	 	 	 	50	%(1)
	 	 	 		 	 	 	 	 

 

		
	(1) 	
    The bonuses for David Mitchell, Mark Wabschall, Douglas McNitt
    and Kristin Weller Muhlner are determined quarterly by the
    Compensation Committee of the Company’s Board of Directors
    based primarily on the Company’s revenue and net income per
    share and based, to a lesser extent, on individual performance.
    Effective June 15, 2006, the Compensation Committee
    approved the payment of the following bonuses for the fourth
    quarter of the Company’s fiscal year ended March 31,
    2006: Mr. Mitchell — $48,811;
    Mr. Wabschall — $19,885;
    Mr. McNitt — $19,886; and
    Ms. Muhlner — $18,000.
	 
	(2) 	
    The bonus for Richard Chiarello is determined quarterly based on
    the Company’s achievement of established license revenue,
    total revenue and earnings per share goals for the Company. The
    target quarterly bonus amount for Mr. Chiarello, assuming
    attainment of 100% of performance goals, is $87,500. Achievement
    of the established license revenue, total revenue and earnings
    per share goals accounts for 50%, 25% and 25%, respectively, of
    Mr. Chiarello’s target quarterly bonus amount. The
    actual quarterly bonus amount may exceed the target quarterly
    bonus amount if the Company exceeds one or more of the
    performance objectives. Effective June 15, 2006, the
    Compensation Committee approved the payment of a bonus of
    $121,608 to Mr. Chiarello for the fourth quarter of the
    Company’s fiscal year ended March 31, 2006. Also
    effective June 15, 2006, the Compensation Committee
    approved a bonus plan and established license revenue, total
    revenue and earnings per share goals for quarterly bonus
    payments to Mr. Chiarello for the fiscal year ended
    March 31, 2007.exv10w23

 

Exhibit 10.23

Ixys Corporation

1999 Equity Incentive Plan

Stock Option Agreement

(Incentive
and Nonstatutory Stock Options)

     Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Stock Option Agreement,
IXYS Corporation (the “Company”) has granted you an option under its 1999 Equity Incentive Plan
(the “Plan”) to purchase the number of shares of the Company’s Common Stock indicated in your Grant
Notice at the exercise price indicated in your Grant Notice. Defined terms not explicitly defined
in this Stock Option Agreement but defined in the Plan shall have the same definitions as in the
Plan.

     The details of your option are as follows:

     1.       Vesting. Subject to the limitations contained herein, your option will vest as
provided in your Grant Notice, provided that vesting will cease upon the termination of your
Continuous Service and that your vesting may be accelerated as provided in the Plan.

     2.       Number of Shares and Exercise Price. The number of shares of Common Stock subject
to your option and your exercise price per share referenced in your Grant Notice may be adjusted
from time to time for Capitalization Adjustments.

     3.       Method of Payment. Payment of the exercise price is due in full upon exercise of
all or any part of your option. You may elect to make payment of the exercise price in cash or by
check or in any other manner permitted by your Grant Notice, which may include one or more of the
following:

                         (i)       In the Company’s sole discretion at the time your option is exercised and provided that at
the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street
Journal, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve
Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check)
by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to
the Company from the sales proceeds.

                         (ii)       In the Company’s sole discretion at the time your option is exercised, by cancellation of
a number of the shares of Common Stock to be issued upon the exercise, where such cancelled number
equals the largest number of whole shares that has a Fair Market Value that does not exceed the
aggregate exercise price. With respect to any remaining balance of the aggregate exercise price,
you may either pay by cash or through a broker assisted exercise pursuant to Section 3(i). The
shares of Common Stock used to pay the exercise price of this option under this “net exercise”
provision will be considered to have resulted from the

 

 

exercise of this option, and accordingly, this option will not again be exercisable with
respect to such shares, as well as any shares actually delivered to you.

                         (iii)       Provided that at the time of exercise the Common Stock is publicly traded and quoted
regularly in The Wall Street Journal, by delivery of already-owned shares of Common Stock either
that you have held for the period required to avoid a charge to the Company’s reported earnings
(generally six (6) months) or that you did not acquire, directly or indirectly from the Company,
that are owned free and clear of any liens, claims, encumbrances or security interests, and that
are valued at Fair Market Value on the date of exercise. “Delivery” for these purposes, in the
sole discretion of the Company at the time you exercise your option, shall include delivery to the
Company of your attestation of ownership of such shares of Common Stock in a form approved by the
Company. Notwithstanding the foregoing, you may not exercise your option by tender to the Company
of Common Stock to the extent such tender would violate the provisions of any law, regulation or
agreement restricting the redemption of the Company’s stock.

     4.       Whole Shares. You may exercise your option only for whole shares of Common Stock
that have vested.

     5.       Securities Law Compliance. Notwithstanding anything to the contrary contained
herein, you may not exercise your option unless the shares of Common Stock issuable upon such
exercise are then registered under the Securities Act or, if such shares of Common Stock are not
then so registered, the Company has determined that such exercise and issuance would be exempt from
the registration requirements of the Securities Act. The exercise of your option also must comply
with other applicable laws and regulations governing your option, and you may not exercise your
option if the Company determines that such exercise would not be in material compliance with such
laws and regulations.

     6.       Term. You may not exercise your option before the commencement or after the
expiration of its term. The term of your option commences on the Date of Grant and expires upon
the earliest of the following:

                         (i)       three (3) months after the termination of your Continuous Service for any reason other
than your Disability or death, provided that if during any part of such three (3) month period your
option is not exercisable solely because of the condition set forth in Section 5, your option shall
not expire until the earlier of the Expiration Date or until it shall have been exercisable for an
aggregate period of three (3) months after the termination of your Continuous Service;

                         (ii)       twelve (12) months after the termination of your Continuous Service due to your
Disability;

                         (iii)       eighteen (18) months after your death if you die either during your Continuous Service
or within three (3) months after your Continuous Service terminates;

                         (iv)       the Expiration Date indicated in your Grant Notice; or

                         (v)       the day before the tenth (10th) anniversary of the Date of Grant.

 

 

     If your option is an Incentive Stock Option, note that to obtain the federal income tax
advantages associated with an Incentive Stock Option, the Code requires that at all times beginning
on the date of grant of your option and ending on the day three (3) months before the date of your
option’s exercise, you must be an employee of the Company or an Affiliate, except in the event of
your death or your permanent and total disability, as defined in Section 22(e) of the Code. (The
definition of disability in Section 22(e) of the Code is different from the definition of the
Disability under the Plan). The Company has provided for extended exercisability of your option
under certain circumstances for your benefit but cannot guarantee that your option will necessarily
be treated as an Incentive Stock Option if you continue to provide services to the Company or an
Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise
your option more than three (3) months after the date your employment with the Company or an
Affiliate terminates.

     7.       Exercise.

                         (i)       You may exercise the vested portion of your option (and the unvested portion of your
option if your Grant Notice so permits) during its term by delivering a Notice of Exercise (in a
form designated by the Company) together with the exercise price to the Secretary of the Company,
or to such other person as the Company may designate, during regular business hours, together with
such additional documents as the Company may then require.

                         (ii)       By exercising your option you agree that, as a condition to any exercise of your option,
the Company may require you to enter into an arrangement providing for the payment by you to the
Company of any tax withholding obligation of the Company arising by reason of (1) the exercise of
your option, (2) the lapse of any substantial risk of forfeiture to which the shares of Common
Stock are subject at the time of exercise, or (3) the disposition of shares of Common Stock
acquired upon such exercise.

     8.       Transferability. Your option is not transferable, except by will or by the laws
of descent and distribution, and is exercisable during your life only by you. Notwithstanding the
foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you
may designate a third party who, in the event of your death, shall thereafter be entitled to
exercise your option.

     9.       Option not a Service Contract. Your option is not an employment or service
contract, and nothing in your option shall be deemed to create in any way whatsoever any obligation
on your part to continue in the employ of the Company or an Affiliate, or of the Company or an
Affiliate to continue your employment. In addition, nothing in your option shall obligate the
Company or an Affiliate, their respective stockholders, Boards of Directors, Officers or Employees
to continue any relationship that you might have as a Director or Consultant for the Company or an
Affiliate.

     10.       Withholding Obligations.

                         (i)       At the time you exercise your option, in whole or in part, or at any time thereafter as
requested by the Company, you hereby authorize withholding from payroll and

 

 

any other amounts payable to you, and otherwise agree to make adequate provision for
(including by means of a “cashless exercise” pursuant to a program developed under Regulation T as
promulgated by the Federal Reserve Board to the extent permitted by the Company), any sums required
to satisfy the federal, state, local and foreign tax withholding obligations of the Company or an
Affiliate, if any, which arise in connection with the exercise of your option.

                         (ii)       Either upon your request and subject to approval by the Company, in its sole discretion,
or at the request of the Company, in its sole discretion, and, in either case, in compliance with
any applicable legal conditions or restrictions, the Company may withhold from fully vested shares
of Common Stock otherwise issuable to you upon the exercise of your option a number of whole shares
of Common Stock having a Fair Market Value, determined by the Company as of the date of exercise,
not in excess of the minimum amount of tax required to be withheld by law (or such lower amount as
may be necessary to avoid variable award accounting). If the date of determination of any tax
withholding obligation is deferred to a date later than the date of exercise of your option, share
withholding pursuant to the preceding sentence shall not be permitted unless you make a proper and
timely election under Section 83(b) of the Code, covering the aggregate number of shares of Common
Stock acquired upon such exercise with respect to which such determination is otherwise deferred,
to accelerate the determination of such tax withholding obligation to the date of exercise of your
option. Notwithstanding the filing of such election, shares of Common Stock shall be withheld
solely from fully vested shares of Common Stock determined as of the date of exercise of your
option that are otherwise issuable to you upon such exercise. Any adverse consequences to you
arising in connection with such share withholding procedure shall be your sole responsibility.

                         (iii)       You may not exercise your option unless the tax withholding obligations of the Company
and/or any Affiliate are satisfied. Accordingly, you may not be able to exercise your option when
desired even though your option is vested, and the Company shall have no obligation to issue a
certificate for such shares of Common Stock or release such shares of Common Stock from any escrow
provided for herein unless such obligations are satisfied.

     11.       Notices. Any notices provided for in your option or the Plan shall be given in
writing and shall be deemed effectively given upon receipt or, in the case of notices delivered by
mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid,
addressed to you at the last address you provided to the Company.

     12.       Governing Plan Document. Your option is subject to all the provisions of the
Plan, the provisions of which are hereby made a part of your option, and is further subject to all
interpretations, amendments, rules and regulations, which may from time to time be promulgated and
adopted pursuant to the Plan. In the event of any conflict between the provisions of your option
and those of the Plan, the provisions of the Plan shall control.

 

 

Ixys Corporation

1999 Equity Incentive Plan

Stock Option Grant Notice

IXYS Corporation (the “Company”), pursuant to its 1999 Equity Incentive Plan (the “Plan”),
hereby grants to Optionholder an option to purchase the number of shares of the Company’s Common
Stock set forth below. This option is subject to all of the terms and conditions as set forth
herein and in the Stock Option Agreement, the Plan and the Notice of Exercise, all of which are
attached hereto and incorporated herein in their entirety.

	 	 	 	 
	Optionholder:
	 	 
	Date of Grant:
	 	 
	Vesting Commencement Date:
	 	 
	Number of Shares Subject to Option:
	 	 
	Exercise Price (Per Share):
	 	 
	Total Exercise Price:
	 	 
	Expiration Date:1
	 	 

	 	 	 	 	 
	Type of Grant:
	 	 ̈  Incentive Stock Option2	 	 ̈  Nonstatutory Stock Option
	 
	 	 	 	 
	Exercise Schedule:	 	Same as Vesting Schedule,
	 
	 	 	 	 
	Vesting Schedule:	 	.

	 
	 	 	 	 
	Payment:	 	By one or a combination of the following items (described in Section 3 of the Stock Option Agreement):
	 
	 	 	 	 
	 	 	 ̈    By cash or check;
	 	 	 ̈    At the discretion of the Company, pursuant to a Regulation T Program if the Shares are publicly traded;
	 	 	 ̈    At the discretion of the Company, through a “net exercise”;
	 	 	 ̈    At the discretion of the Company, by delivery of already-owned shares if the Shares are publicly traded.

Additional Terms/Acknowledgements: The undersigned Optionholder acknowledges receipt of, and
understands and agrees to, this Stock Option Grant Notice, the Stock Option Agreement and the Plan.
Optionholder further acknowledges that as of the Date of Grant, this Stock Option Grant Notice,
the Stock Option Agreement and the Plan set forth the entire understanding between Optionholder and
the Company regarding the acquisition of stock in the Company and supersede all prior oral and
written agreements on that subject with the exception of (i) options previously granted and
delivered to Optionholder under the Plan, and (ii) the following agreements only:

	 	 	 
	Other Agreements:
	 	 
	 

	 	 
	 
	 	 

	 	 	 	 	 	 	 
	Ixys Corporation	 	Optionholder:
	 
	By:
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Signature	 	Signature
	 
	Title:

	 	 	 	Date:	 	 
	 

	 	 
	 	 	 	 
	 
	Date:
	 	 	 	 	 	 
	 

	 	 	 	 	 	 

 Attachments: Stock Option Agreement, 1999 Equity Incentive Plan and Notice of Exercise

 

			
	1	 	Subject to earlier termination as
provided in Section 6 of the Option Agreement.
	 
	2	 	If this is an Incentive Stock Option, it (plus
other outstanding Incentive Stock Options) cannot be first exercisable
for more than $100,000 in value (measured by exercise price) in any calendar
year. Any excess over $100,000 is a Nonstatutory Stock Option.

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