Document:

Letter Agreement

 Exhibit 10.1 
 [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as
amended. 
 February 17, 2009 (the “Letter Effective Date”) 
 Adrian Rawcliffe 
 Senior Vice President, Worldwide Business Development and R&D Finance 
 SmithKline Beecham Corporation, 
 d/b/a GlaxoSmithKline 
 709 Swedeland Road 
 UW2328 
 King of Prussia, PA 19406 
  

	Re:	Release Letter for XL184 and Remaining Development Candidates 

 Dear Ad,

 This letter agreement (this “Letter”) is intended to set forth the mutual understandings of Exelixis, Inc., a Delaware corporation
(“Exelixis”) and SmithKline Beecham Corporation, a Pennsylvania corporation, doing business as GlaxoSmithKline (“GSK”), regarding the ability of Exelixis to further develop and commercialize: (i) The
Development Candidate known as XL184, and its Included Compounds; and (ii) the Development Candidates known as XL228, XL281, XL418, XL820 and XL844 (the “Remaining Development Candidates”), and their Included Compounds, in
light of GSK’s decision not to select either XL184 or any of the Remaining Development Candidates under the Product Development and Commercialization Agreement dated as of October 28, 2002, by and between Exelixis and GSK, as amended on
January 10, 2005 and on June 13, 2008 (such agreement, as amended, collectively, the “PDCA”). 
 Any capitalized terms used in
this Letter that are not otherwise defined herein shall have the meanings given to them in: (i) the PDCA; (ii) the Loan and Security Agreement dated as of October 28, 2002, and as amended by and between the Parties on December 5,
2002, September 20, 2004, January 10, 2005, and July 10, 2008 (such agreement, as amended, collectively, the “LSA”); and (iii) the Patent Security Agreement and Mortgage dated as of October 28,
2002, and as amended by and between the Parties on January 10, 2005 (such agreement, as amended, collectively, the “PSA”). Concurrently with the execution and delivery of this Letter, the PSA is being amended and restated in
its entirety in the form attached hereto as Exhibit A (the “Amended and Restated PSA”). 
 Accordingly, the Parties agree as follows:

  

	 	•	 	 GSK has not exercised its Development Election for the Development Candidate known as XL184 (and its Included Compounds) within the First Option Period under
Section 4.3.1(b) of the PDCA. Accordingly, XL184 is now a Refused Candidate. GSK agrees that its ability to select XL184 under Sections 4.3.1(d), 4.3.2(b) and 4.4 of the PDCA is exhausted because the Development Term has expired without
extension. Therefore, GSK’s rights to XL184 (and its Included Compounds) hereby revert to Exelixis. Exelixis is free to develop or commercialize products incorporating XL184, any Included Compound relating to XL184, and/or formulations,
mixtures or compositions incorporating any of the foregoing, in each case either directly or indirectly (e.g., with a third party collaborator or sublicensee), and GSK shall have no further rights or obligations 

	 	 
with respect to XL184 (and its Included Compounds), except for GSK’s right to receive the royalty payments set forth in Section 6.4.1 of the PDCA
for products incorporating XL184, its Included Compounds, and/or formulations, mixtures or compositions incorporating any of the foregoing. 

  

	 	•	 	 Section 3 of the LSA is hereby amended and restated in its entirety to read as follows: 

 “3.1 Grant of Security Interest. To secure the payment and performance by Exelixis of the Obligations to GSK, Exelixis and, to
the extent applicable, its Affiliates hereby pledge, set over, assign, deliver and grant a first and only priority security interest to GSK in all of Exelixis’ and, to the extent applicable, its Affiliates’ right, title and interest in the
following assets, wherever located and whether now existing or hereafter created and whether now owned or hereafter acquired, of every description, tangible and intangible (the “Collateral”); 
 3.1.1 Development Patents. The patent applications listed in Schedule 3.1.1, including, without limitation, all Proceeds
thereof (such as, by way of example, license royalties and Proceeds of infringement suits), the right to sue for past, present and future infringements thereof, all rights corresponding thereto throughout the world and all reissues, divisionals,
continuations, renewals, extensions and continuations in part thereof, all patents resulting from the patent applications listed in Schedule 3.1.1, and all other patent applications and patents, however and whenever arising, to the extent such
patent applications and patents are directly related to the composition of matter or method of use of the (a) compounds specifically claimed in such patent applications or patents, including the Development Candidates known as XL228, XL281,
XL418, XL820, XL844, and XL880, and their Included Compounds; and (b) formulations, mixtures or compositions incorporating the foregoing compounds described in clause (a) above being developed by or for Exelixis pursuant to the Development
Agreement (collectively and individually deemed general intangibles of Exelixis and referred to as the “Patents”); 
 3.1.2 Other Intellectual Property. All other intellectual property including, but not limited to, know-how, licenses, copyrights and trade secrets that arise out of the Development Program that is solely related to the
composition of matter or method of use of the (a) compounds specifically claimed in the Patents listed in Schedule 3.1.1, including the Development Candidates known as XL228, XL281, XL418, XL820, XL844, and XL880, and their Included
Compounds; and (b) formulations, mixtures or compositions incorporating the foregoing compounds described in clause (a) above being developed by or for Exelixis pursuant to the Development Agreement (collectively and individually deemed
general intangibles of Exelixis and with the Patents referred to as the “Intellectual Property”); 
 3.1.3 Deposit Account. That certain deposit account with a mutually agreed upon bank or financial institution, initially SVB Securities, more particularly described on Schedule 3.1.3 (the “Deposit
Account”) maintained by Exelixis into which the proceeds of the Advances, including without limitation investment property, shall be deposited and, subject to Section 9.5, maintained, with all dividends and distributions, whether
payable in cash, securities or other investment property accruing on the balance therein, all of which are described and governed by the Control Agreement; 
  

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 [ * ] =
Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 3.1.4 Development Candidate Inventory. All compounds constituting
materials, bulk drug supplies, clinical supplies, and formulations of the compounds specifically claimed in the Patents listed in Schedule 3.1.1, including the Development Candidates known as XL228, XL281, XL418, XL820, XL844, and XL880, and
any derivative materials produced therefrom of Exelixis (collectively and individually deemed inventory of Exelixis and referred to as the “Development Candidate Inventory”); 
 3.1.5 Capital Equipment. All capital equipment (currently defined as equipment with a purchase price per item in excess of
Five Thousand Dollars ($5,000)), purchased by Exelixis with the proceeds of the Advances, having a specific use solely to perform the activities contemplated under the Development Agreement, in all cases however and wherever arising (the
“Capital Equipment”); and 
 3.1.6 Proceeds. All Proceeds and products of the Intellectual
Property, the Deposit Account, the Development Candidate Inventory and/or the Capital Equipment.” 
 The Parties agree that they shall,
within ten (10) days of the Letter Effective Date, at Exelixis’ cost and expense, execute and deliver all amendments to the UCC Financing Statements and Patent Office Filings and such other documents necessary or useful to evidence the
foregoing or as either Party may reasonably request. 
  

	 	•	 	 The only Development Compounds that were being developed by Exelixis under the PDCA as of the end of the Development Term were the Development Candidates known as
XL228, XL281, XL418, XL820 and XL844 (the “Remaining Development Candidates”), and GSK has waived its right to exercise its Development Election for the Remaining Development Candidates during the Pipeline Option Period under
Section 4.3.2(b) of the PDCA. Therefore, the Remaining Development Candidates (and their Included Compounds) have reverted to Exelixis, and the Remaining Development Candidates shall no longer be deemed Development Candidates, Included
Compounds or Development Compounds. For clarity, the Remaining Development Candidates are not Refused Candidates. Therefore, GSK shall have no further rights or obligations with respect to the Remaining Development Candidates (and their Included
Compounds), except as set forth in the LSA and the Amended and Restated PSA, and Exelixis is free to develop or commercialize products incorporating the Remaining Development Candidates, any Included Compound relating to the Remaining Development
Candidates, and/or formulations, mixtures or compositions incorporating any of the foregoing, in each case either directly or indirectly (e.g., with a third party collaborator or sublicensee) and without payment of a royalty to GSK.

  

	 	•	 	 Notwithstanding anything to the contrary in the LSA or the Amended and Restated PSA, as of the Letter Effective Date, the covenants set forth in Articles 9 and 10
of the LSA and Article 3 of the Amended and Restated PSA shall not apply to: XL184 (and its Included Compounds), any Remaining Development Candidates (and their Included Compounds); or any compounds that are specifically claimed in Application No. [
* ]), and Exelixis shall be free to license, sell, 

  

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 [ * ] =
Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 conditionally sell, sell on approval, consign, lease, encumber, transfer, remove from its premises: XL184
(and its Included Compounds); any Remaining Development Candidates (and their Included Compounds); or any compounds that are specifically claimed in Application No. [ * ], in each case without the prior written consent of GSK. For clarity, any such
license, sale, conditional sale, sale on approval, consignment, lease, encumbrance, transfer, or removal of: XL184 (and its Included Compounds); any Remaining Development Candidates (and their Included Compounds); or any compounds that are
specifically claimed in Application No. [ * ] shall, in each case, not be a default or breach of any of Exelixis’ conditions, representations, warranties, covenants or agreements set forth in the LSA or the Amended and Restated PSA. 

 

	 	•	 	 In connection with execution of the Amended and Restated PSA and the Termination of Patent Security Interest to be executed by GSK (the
“Termination”), Exelixis represents and warrants to GSK that the patents and applications numbers 1-4 listed in Exhibit A to the Termination generically or specifically cover XL184. 

  

	
	Sincerely,
	
	/s/ Pamela A. Simonton
	Pamela A. Simonton, JD, LLM
	EVP and General Counsel
	Exelixis, Inc.

 ACKNOWLEDGED AND AGREED 
  

			
	SMITHKLINE BEECHAM CORPORATION D/B/A
GLAXOSMITHKLINE
		
	By:	 	/s/ William J. Mosher
	Title:	 	Vice President & Secretary
		
	cc:	 	Lisa DeMarco, Esq.
		 	Vice President & Associate General Counsel,
		 	Legal Operations, Business Development Transactions

  

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 [ * ] =
Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 Schedule 3.1.1 
 PATENTS 
 Pending Patent Applications 
 [ * ] 
  

 [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed
separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 Schedule 3.1.3 
 DEPOSIT ACCOUNT 
  

			
	Bank:	  	SVB Securities
		  	3003 Tasman Drive
		  	Mail Sort HG250
		  	Santa Clara, California 95054
		  	Attn: Operations Manager
		  	Telephone: 408-654-7256
		  	Facsimile: 408-496-2407
		
	Securities Account Number:	  	[ * ]
		
	Bank:	  	Silicon Valley Bank
		  	Deposit Control Department
		  	3003 Tasman Drive
		  	Mail Sort HG225
		  	Santa Clara, California 95054
		  	Telephone: 408-654-5512/408-654-3039/408-654-3099
		  	Facsimile: 408-654-6389
		
	Demand Deposit Account Number:	  	[ * ]
		
	Wiring Instructions:	  	 Route all domestic wire transfers via FEDWIRE to the following
 ABA number:

  

					
		 	TO:	  	SIL VLY BK SJ
		 	ROUTING & TRANSIT #:	  	[ * ]
		 	FOR CREDIT OF:	  	Exelixis, Inc.
		 	CREDIT ACCOUNT #:	  	[ * ]
		 	BY ORDER OF:	  	[NAME OF SENDER]

  

 [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed
separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

 Exhibit A 
 Amended and Restated Patent Security Agreement and Mortgage 
 [ * ] 
  

 [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed
separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.Offer Letter between GMCR, Inc. and Howard Malovany

 Exhibit 10.1 
 January 8, 2009 
 Howard Malovany 
 1771 Princeton
Court 
 Lake Forest, Illinois 60045 
 Dear Howard, 

It is my pleasure to extend this offer to you for the position of Vice President, General Counsel, located in Waterbury, Vermont. In this capacity, you will report
directly to me and be part of our Enterprise Leadership Team. We anticipate your first day of employment to be on February 9, 2009. 
 Your compensation
is comprised of an annual base salary of $310,000, paid in bi-weekly increments. You will also be entitled to participate in the Green Mountain Coffee Roasters, Inc. Senior Executive Officer Short-Term Incentive Plan (the “STIP”). Your
target bonus for FY09 will equal 50% of your base salary. Your target bonus for subsequent years will be determined annually by a subcommittee of outside members of Green Mountain Coffee Roasters, Inc.’s board of directors. Your annual
performance metrics under the STIP will be mutually agreed upon and will be based on specific financial and individual targets, determined in accordance with the terms of the STIP. You will be eligible to participate in the STIP on a pro-rata basis
for FY09. Bonuses under the STIP shall be subject to and payable in accordance with the terms set forth in the STIP. 
 Additionally, you will be eligible to
participate in the Green Mountain Coffee Roasters, Inc. 2006 Incentive Plan, as amended (the “2006 Plan”) with a target of 80% of your base salary. Awards under this plan are paid out in a combination of equity (stock options and/or
restricted stock) and/or cash. You will be eligible to participate in the 2006 Plan for FY10 subject to the 2006 Plan’s terms and limitations. Plan documents for both the STIP and 2006 Plan have been sent to you under separate cover.

 As an inducement to your accepting this position, and subject only to approval by the Board of Directors (the “Board”), on or promptly following
your first day of employment, you will be granted an option to purchase 35,000 shares of Green Mountain Coffee Roasters, Inc. common stock at the market value as of the close of business on the date of grant (the “Inducement Option”). The
Inducement Option is a non-qualified option and will vest ratably over 4 years at 25% a year. The Inducement Option, and any other options or other equity that you may receive during your employment shall be subject to any applicable stock option
plan, option certificate and shareholder and/or option holder agreements and other restrictions and limitations generally applicable to equity held by our executives or otherwise required by law. You will only be eligible to receive stock options or
other equity, as expressly provided in this letter or as otherwise expressly authorized by the Board. Prior to issuing the Inducement Option or any other equity to you, we may require that you provide reasonable representations regarding your
sophistication, investment intent and other such matters. 

 You are also eligible for a one time sign-on bonus of $25,000 (gross) to be paid to you in the first payroll of your
employment. Should you leave the company, voluntarily, within six months of your date of hire, you must reimburse the sign on bonus to GMCR on a prorated basis. 
 GMCR will reimburse you for the reasonable and customary moving expenses incurred in moving your household to Vermont, including lease breakage costs and temporary housing in an amount not to exceed $75,000 (substantiated with receipts).

 You will be eligible to participate in all benefit programs offered to our executives generally from time to time in accordance with plan terms. Our
benefits offerings currently include health, dental, vision and life insurance, a flexible spending plan, 401(k) and an Employee Stock Purchase Plan. You will be eligible for medical benefits the first of the month following 30 days of employment.
Kathy Brooks would be happy to answer any additional questions you might have regarding your benefits. A full benefits information packet will be sent under separate cover. 
 Subject only to Board approval, you will also be designated a Participant in the Green Mountain Coffee Roasters, Inc. 2008 Change-In-Control Severance Benefit Plan (the “CIC Plan”). The CIC Plan provides
certain severance benefits in connection with a qualifying termination during the three months preceding and the twelve months following a change in control as defined in the CIC Plan (a “Change in Control Period”). A copy of the CIC Plan
is enclosed. 
 While we look forward to a mutually beneficial employment relationship, either you or we may end your employment at any time upon notice to
the other. If we terminate your employment outside of a Change in Control Period for any reason other than gross misconduct, you will be eligible to receive the “Severance Benefits,” as defined below. 
 For purposes of this letter agreement, “Severance Benefits” means the following: (A) twelve (12) months of base salary continuation as severance;
(B) continued contributions by the Company to the premium cost of your participation in the Company’s group medical and dental plans under the federal law known as “COBRA” at the same rate the Company was contributing to the
premium cost of such coverage immediately prior to your termination, subject to your timely election to continue such participation for yourself and your eligible dependents and to your payment of any employee contribution to the premium cost of
such participation applicable to you immediately prior to termination by withholding from your severance payments, until the earlier of 12 months from the termination of your employment and the date you become eligible for coverage under the medical
and/or dental plan of another employer; and (C) a pro-rata portion of the bonus you would have earned under the STIP, if any, for the fiscal year in which termination occurs calculated by multiplying the bonus you would have received had your
employment continued until the end of such fiscal year by a fraction, the numerator of which is the number of calendar days from the first day of the fiscal year (or the first day of the applicable portion of such year) through the date of
termination and the denominator of which is the number of calendar days in the fiscal year (or applicable portion of such year), which shall be paid at the time bonuses for the fiscal year in which the termination occurs are paid to other STIP
participants generally, provided that any payment under this clause (C) shall be subject to and payable in accordance with the terms set forth in the STIP. 
  

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 To receive the Severance Benefits, you will be required to sign and return to us a general release of claims in a form we
will provide within 5 business days following such termination of employment (the “Release”). The Company will provide you with a period to sign the Release that is at least as long as the time period required by law to render it fully
effective, but that period shall not exceed forty-five (45) days. You must deliver the Release to us within 2 business days after you sign it. Your salary continuation will begin on the next regular pay date that is up to seven (7) days
later than the expiration of any period of revocation that we must provide you to render the Release fully effective, provided that you do not revoke it, and provided that your salary continuation shall begin no later than fourteen
(14) business days following your delivery of the Release to the Company. The first payment will be retroactive to the date of termination. 
 To
qualify as an “involuntary separation” a termination by the Company of your employment must constitute an involuntary “separation from service” (as defined at Section 1.409A-1(h) of the Treasury Regulations) from the Company
and from all other corporations and trades or businesses, if any, that would be treated as a single “service recipient” with the Company under Section 1.409A-1(h)(3) of the Treasury Regulations. If at the time of your separation from
service you are a specified employee as hereinafter defined, any and all amounts payable in connection with such separation from service that constitute deferred compensation subject to Section 409A of the Code, as determined by the Company in
its sole discretion, and that would (but for this sentence) be payable within six months following such separation from service, shall instead be paid on the date that follows the date of such separation from service by six (6) months. For
purposes of the preceding sentence, the term “specified employee” means an individual who is determined by the Company to be a specified employee as defined in subsection (a)(2)(B)(i) of Section 409A of the Code. 
 This offer and your right to accept it are expressly conditioned upon your compliance with the requirements of the Immigration and Reform and Control Act of 1986, your
successful completion of the pre-employment physical. All payments made to you pursuant to this letter will be payable in accordance with our general payroll practices and subject to all applicable withholdings and deductions. 
 Howard, I look forward to working with you and am very pleased that you will be joining the Green Mountain Coffee Roasters team. I am confident that with your leadership
we can be even more successful. 
 If you have any questions, please contact Kathy Brooks at 802-882-2101. 
  

	
	Sincerely,
	
	 /s/ Larry Blanford

	Larry Blanford
	Chief Executive Officer

  

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