Document:

Exhibit 4.2

 

EXECUTION COPY

 

SUPPLEMENTAL
INDENTURE NO. 1 TO SERIES 2007-3 INDENTURE SUPPLEMENT

 

THIS SUPPLEMENTAL INDENTURE NO. 1 TO SERIES 2007-3 INDENTURE
SUPPLEMENT, dated as of September 10, 2009 (this “Amendment”), is
between GE Capital Credit Card Master Note Trust, a Delaware statutory trust,
as issuer (the “Issuer”) and Deutsche Bank Trust Company Americas, a New
York banking corporation, as trustee (the “Indenture Trustee”).

 

BACKGROUND

 

WHEREAS, the Issuer and the Indenture Trustee are parties to a Master
Indenture, dated as of September 25, 2003, as (i) amended by the
Omnibus Amendment No. 1 to Securitization Documents, dated as of February 9,
2004, among RFS Holding, L.L.C., RFS Funding Trust, the Issuer, Deutsche Bank
Trust Company Delaware, as trustee of RFS Funding Trust, RFS Holding, Inc.
and the Indenture Trustee, the Second Amendment to Master Indenture, dated as
of June 17, 2004, between the Issuer and the Indenture Trustee, the Third
Amendment to Master Indenture, dated as of August 31, 2006, between the
Issuer and the Indenture Trustee, the Fourth Amendment to Master Indenture,
dated as of June 28, 2007, between the Issuer and the Indenture Trustee,
the Fifth Amendment to Master Indenture, dated as of May 22, 2008, between
the Issuer and the Indenture Trustee and the Sixth Amendment to Master
Indenture, dated as of August 7, 2009, between the Issuer and the
Indenture Trustee and (ii) supplemented by the Series 2007-3
Indenture Supplement, dated as of June 28, 2007, between the Issuer and the
Indenture Trustee (“the Series 2007-3 Indenture Supplement”), as
amended, the (“Master Indenture”).

 

WHEREAS, the parties hereto desire to amend the Series 2007-3
Indenture Supplement as set forth herein; and

 

WHEREAS, this Amendment is being entered into pursuant to Section 9.1(b) of
the Master Indenture, and all conditions precedent to the execution of this
Amendment, as set forth in such Section 9.1(b), have been satisfied.

 

NOW, THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

 

SECTION 1.        Definitions. 
Capitalized terms defined in the Master Indenture and used but not
otherwise defined herein have the meanings given to them in the Master
Indenture.

 

SECTION 2.        Amendments
to Series 2007-3 Indenture Supplement.

 

(a)           The definition of “Collateral Amount” in Section 1.1
of the Series 2007-3 Indenture Supplement is amended in its entirety to
read as follows:

 

“Collateral Amount” means, as
of any date of determination, an amount equal to the excess of (a) the
Initial Collateral Amount, over (b) 

 

 

the sum of (i) the amount of principal previously
paid to the Series 2007-3 Noteholders (other than any principal payments
made from funds on deposit in the Spread Account), (ii) the aggregate of
all reductions in the Collateral Amount pursuant to the last sentence of Section 4.4(c)(iii),
(iii) the Principal Accumulation Account Balance, and (iv) the
excess, if any, of the aggregate amount of Investor Charge-Offs and Reallocated
Principal Collections over the
reimbursements of such amounts pursuant to Section 4.4(a)(vii) prior
to such date.

 

(b)           The reference to “$1,500,000,000” in the
definition of “Initial Collateral Amount” in Section 1.1 of the Series 2007-3
Indenture Supplement is hereby replaced with “$1,625,000,000”.

 

(c)           The reference to “$45,000,000” in the
definition of “Initial Excess Collateral Amount” in Section 1.1 of
the Series 2007-3 Indenture Supplement is hereby replaced with “$170,000,000”.

 

(d)           The reference to “3.00%” in the first
sentence of the definition of “Required Excess Collateral Amount” in Section 1.1
of the Series 2007-3 Indenture Supplement is hereby replaced with “10.46%”.

 

(e)           The definition of “Monthly Principal
Reallocation Amount” in Section 1.1 of the Series 2007-3
Indenture Supplement is amended as follows:

 

(i)            The reference to “$281,250,000” in clause (a) is
hereby replaced with “$406,250,000”.

 

(ii)           The reference to “$142,500,000” in clause (b) is
hereby replaced with “$267,500,000”.

 

(iii)          The reference to “$45,000,000” in clause (c) is
hereby replaced with “$170,000,000”.

 

(f)            The definition of “Surplus Collateral
Amount” in Section 1.1 of the Series 2007-3 Indenture
Supplement is amended in its entirety to read as follows:

 

“Surplus
Collateral Amount” means, with respect to any Payment Date, the excess, if
any, of the Excess Collateral Amount over the Required Excess Collateral
Amount, in each case calculated after giving effect to any deposits into the
Principal Accumulation Account and payments of principal on such Payment Date,
but before giving effect to any reduction in the Collateral Amount on such
Payment Date pursuant to Section 4.4(c)(iii).

 

(g)           The parties hereto agree that the
numerator determined pursuant to clause (a)(i) of the definition of “Allocation
Percentage” in Section 1.1 of the Series 2007-3 Indenture
Supplement only for the Monthly Period beginning on September 22, 2009
shall be the Collateral Amount calculated as of the end of the day on September 22,
2009.

 

 

SECTION 3.        Binding
Effect; Ratification.

 

(a)           This Amendment shall become effective as
of September 22, 2009; provided that on or prior to such date counterparts
hereof shall have been executed and delivered by the parties hereto, and
thereafter shall be binding on the parties hereto and their respective
successors and assigns.

 

(b)           The Series 2007-3 Indenture
Supplement, as supplemented hereby, remains in full force and effect.  Any reference to the Series 2007-3
Indenture Supplement from and after the date hereof shall be deemed to refer to
the Series 2007-3 Indenture Supplement as supplemented hereby, unless
otherwise expressly stated.

 

(c)           Except as expressly supplemented hereby,
the Series 2007-3 Indenture Supplement shall remain in full force and
effect and is hereby ratified and confirmed by the parties hereto.

 

SECTION 4.        No
Recourse.  It is expressly understood and agreed by the
parties hereto that (a) this Agreement is executed and delivered by BNY Mellon
Trust of Delaware, not individually or personally but solely as trustee of the
Issuer, in the exercise of the powers and authority conferred and vested in it,
(b) each of the representations, undertakings and agreements herein made
on the part of the Issuer is made and intended not as personal representations,
undertakings and agreements by BNY Mellon Trust of Delaware but is made and
intended for the purpose of binding only the Issuer, (c) nothing herein
contained shall be construed as creating any liability on BNY Mellon Trust of
Delaware, individually or personally, to perform any covenant either expressed
or implied contained herein, all such liability, if any, being expressly waived
by the parties hereto and by any Person claiming by, through or under the
parties hereto and (d) under no circumstances shall BNY Mellon Trust of
Delaware be personally liable for the payment of any indebtedness or expenses
of the Issuer or be liable for the breach or failure of any obligation,
representation, warranty or covenant made or undertaken by the Issuer under
this Agreement or any other related documents.

 

SECTION 5.        Miscellaneous.

 

(a)           THIS AMENDMENT AND THE OBLIGATIONS
ARISING HEREUNDER SHALL IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION,
VALIDITY, AND PERFORMANCE, BE GOVERNED BY AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARDING
TO THE CONFLICT OF LAWS PROVISIONS THEREOF) AND ANY APPLICABLE LAWS OF THE
UNITED STATES OF AMERICA.

 

(b)           Headings used herein are for convenience
of reference only and shall not affect the meaning of this Amendment.

 

(c)           This Amendment may be executed in any
number of counterparts, and by the parties hereto on separate counterparts,
each of which shall be an original and all of which taken together shall
constitute one and the same agreement. 
Executed counterparts may be delivered electronically.

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the date first above written.

 

	
   

  	
  GE CAPITAL CREDIT CARD
  MASTER NOTE TRUST, as Issuer

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  BNY MELLON TRUST OF
  DELAWARE, not in its individual capacity, but solely on behalf of the Issuer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kristine K. Gullo

  
	
   

  	
   

  	
  Name: Kristine K. Gullo

  
	
   

  	
   

  	
  Title: Vice President

  

 

First Amendment to Series 2007-3

Indenture Supplement

 

S-1

 

	
   

  	
  DEUTSCHE BANK TRUST
  COMPANY AMERICAS, not in its individual capacity, but solely as the Indenture
  Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jenna Kaufman

  
	
   

  	
   

  	
  Name: Jenna Kaufman

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Louis Bodi

  
	
   

  	
   

  	
  Name: Louis Bodi

  
	
   

  	
   

  	
  Title: Vice President

  

 

First Amendment to Series 2007-3

Indenture Supplement

 

S-2Exhibit 10.1

 

EMPLOYMENT
SEPARATION AGREEMENT AND RELEASE

 

This
Employment Separation Agreement and Release (the “Agreement”) is made and
entered into as of this 8th day of September, 2009 (the “Execution Date”), by
and between Osiris Therapeutics, Inc., a Delaware corporation (the
“Company”), and Richard W. Hunt (the “Executive”).  The Company and the Executive are sometimes
referred to as the “Parties” or individually as a “Party” to this Agreement.

 

RECITALS

 

The
Executive has been employed by the Company since July 2008.  His position with the Company as of September 8,
2009 (the “Separation Date”) was Chief Financial Officer.

 

The
Executive has submitted his resignation effective on the Separation Date and
the Company has accepted that resignation. 
The Executive and the Company now desire to confirm the resignation of
Executive and set forth the terms of severance and release.

 

NOW,
THEREFORE, in consideration of the foregoing, the promises and covenants
contained in this Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged by the Parties, the
Parties agree as follows:

 

1.             Incorporation of Recitals. 
The Recitals set forth above are incorporated by reference as part of
this Agreement.

 

2.             Separation of Employment. 
The Executive hereby confirms that he resigned from employment, as well
as from all positions with the Company or any affiliated entity, including
without limitation his position as Chief Financial Officer, in each case
effective as of the Separation Date.  The
Executive’s termination from employment will be treated as a voluntary
termination under Section 7(iii) of the Employment Agreement dated as
of July 23, 2008 (the “Employment Agreement”) between the Executive and
the Company.

 

3.             Severance Pay and Benefits. 
The Company shall provide the following severance benefits and make the
following payments to the Executive (the “Separation Benefits”), in addition to
the other benefits generally available to Company employees on termination of
employment, in consideration for entering into this Agreement and providing the
release set forth in Section 5.  The
Executive acknowledges that the following severance pay and benefits are in
addition to anything of value to which the Executive is or might otherwise be
entitled if he did not sign this Agreement.

 

(a)           Severance pay in the total amount of
$45,000.00, representing two (2) months of the Executive’s base salary in
effect as of the Separation Date, to be paid within five days after the
Effective Date of this Agreement.  To the
extent required by law, the Company shall withhold from any payments due
Executive under this Agreement any applicable federal, state or local taxes and
such other deductions as are prescribed by law or Company policy;

 

(b)           plus all medical, life, and disability
benefits, if any, Executive had been receiving immediately preceding the
Separation Date for the a period of two months following the Separation Date.

 

4.             Impact on Employment Agreement/ Stock
Options and Other Rights.  Without the
need for any further action on the part of the Executive or the Company,
effective on the Separation Date, the Employment Agreement, dated July 23,
2008, between the Company and the Executive shall terminate and be of no
further force and effect.  In addition,
the Executive agrees that all rights of the Executive in and to any outstanding
stock options, warrants, restricted stock or other rights in and to equity or
other securities of the Company, whether or not exercisable (but excluding
shares of Common Stock held outright by the Executive free of restrictions
other than securities law restrictions) are terminated and the Executive waives
any and all rights thereunder or thereunto, except for the stock options for
30,000 shares of the Company’s common stock which were vested as of the
Separation Date and resulted from a grant dated July 23, 2008, which shall
remain exercisable for a period of 90-days after the Separation Date.

 

5.             General Release of Claims.

 

(a)           The Executive, for himself and his heirs,
executors, administrators and assigns, if any, and anyone purporting to claim
by or through the Executive, does hereby waive, release and forever discharge
the Company, its subsidiaries, predecessors, successors, assigns, employee benefit
plans and trusts, if any, and each of their past, present and future managers,
members, directors, officers, partners, agents, employees, attorneys,
representatives, fiduciaries, plan sponsors, administrators and trustees, if
any, (hereinafter collectively “the Company Released Parties”), of and from any
and all actions, causes of action, claims (including without limitation, any
claim for wrongful discharge or breach of contract and claims under the
federal, state or local employment discrimination laws  such as Title VII of the Civil Rights Act, the Americans with
Disabilities Act, the Age Discrimination in Employment Act and other similar
laws) suits, demands, rights, damages, accounts, judgments, wages, commissions,
executions, debts, obligations, attorneys’ fees, costs and all other
liabilities of any kind or description whatsoever, either at law or in equity,
whether known or unknown, suspected or unsuspected and whether or not based on
his employment or the termination of his employment, that the Executive now has
or has had against any of the Company Released Parties for or by reason of any
cause, matter or event whatsoever, through the date the Executive signs this
Agreement.  Notwithstanding anything to
the 

 

 

contrary set forth
in this Section, this Release shall not apply to claims relating to the
validity or enforcement of this Agreement, claims that cannot be waived under
applicable law (e.g., unemployment compensation claims), claims for any accrued
benefit under the terms of any employee benefit plan within the meaning of the
Employee Retirement Income Security Act maintained by the Company (except that
it will apply to any severance benefits that otherwise might be payable outside
of this Agreement) or claims for indemnification or defense to which the
Executive is entitled under the Certificate of Incorporation, the Bylaws and/or
any insurance policy of the Company or its subsidiaries.  Nothing in this Agreement precludes the
filing of an administrative charge with the Equal Employment Opportunity
Commission (“EEOC”) or the Executive’s ability to testify, assist or
participate in an investigation, hearing or proceeding conducted by the EEOC,
though the Executive shall not seek or accept any personal or monetary relief
should he or any other person, organization or entity assert any such claim on
his behalf.

 

(b)           Because the Executive is at least forty
(40) years of age, he has specific rights under the Older Workers Benefit
Protection Act (“OWBPA”), which prohibits discrimination on the basis of
age.  It is the Company’s desire and
intent to make certain the Executive fully understand the provisions and effect
of this Agreement.  To that end, the
Executive is encouraged, and has been given the opportunity, to consult with
legal counsel for the purpose of reviewing the terms of this Agreement.  Also, consistent with the provisions of the
OWBPA, and as described in Section 13 of this Agreement, the Company is
providing the Executive with twenty-one (21) days in which to consider and
accept the terms of this Agreement and seven (7) days after he signs this
Agreement to revoke it.

 

(c)           The Company does hereby waive, release
and forever discharge the Executive, his heirs, executors, administrators and
assigns, if any (the “Executive Released Parties”), of and from any and all
actions, causes of action, claims, suits, demands, rights, damages, accounts,
judgments, wages, commissions, executions, debts, obligations, attorneys’ fees,
costs and all other liabilities of any kind or description whatsoever, either
at law or in equity, whether known or unknown, suspected or unsuspected, that
the Company now has or has had against any of the Executive Released Parties
for or by reason of any cause, matter or event whatsoever, through the date it
signs this Agreement.  Notwithstanding
anything to the contrary set forth in this Section, this Release shall not
apply to claims relating to the validity or enforcement of this Agreement,
claims for reimbursement of amounts paid in indemnification, if it is finally
determined by a court of competent jurisdiction that the Company’s
indemnification of the Executive was improper and for claims under Section 16
of the Securities Exchange Act of 1934, as amended, or for claims under any
insider trading law or to claims based on the Executive’s intentional acts.

 

6.             Return of Company Property. 
All information and documents relating to the Company shall be the
exclusive property of the Company and the Executive shall use his best efforts
to prevent any publication or disclosure thereof.  By the Execution Date, the Executive shall
have delivered to the Company all Company property of any kind or character,
which shall include, but not be limited to, all Company identification and
credit cards, any Company equipment,
books, keys, journals, records, publications, files, computers and computer
disks, cellular phones and PDAs, memoranda and documents of any kind or
description, or any other Company property that may be in his possession,
custody or control.

 

7.             Confidentiality. 
Executive shall not, directly or indirectly, disclose or permit to be
known, to any person, firm or corporation, any confidential information
relating to the Company, the directors of the Company, or any client of the
Company, including, but not limited to, the business affairs of each of the
foregoing.  Such confidential information
shall include, but shall not be limited to, proprietary technology, trade
secrets, patented processes, research and development data, know-how, formulae,
pricing policies, the substance of agreements with customers and others, and
arrangements, customer lists and any other documents embodying such
confidential information; provided, however, that confidential information
shall not include any information that has become public knowledge through no
fault of the Executive.  Executive also
agrees not to disclose any confidential or proprietary information that the
Company obtains from a third party and which the Company treats as confidential
or proprietary or designates as confidential, whether or not such information
is owned or developed by the Company. 
All confidential information, regardless of form, is the exclusive
property of the Company.  Executive assigns
to the Company any rights to the foregoing confidential information and any
other proprietary data, inventions or other intellectual property used or
developed during the time Executive provided services to the Company.

 

8.             Restrictive Covenants.

 

(a)           Executive acknowledges that in the course
of his employment with the Company he has become familiar with the trade
secrets of, and other confidential information concerning, the Company, and
that the Company’s ability to accomplish its purposes and to successfully
pursue its business plan and compete in the marketplace depended substantially
on the skills and expertise of the Executive. 
Therefore, and in further consideration of the compensation being paid
to the Executive hereunder, the Executive agrees that for no less than one (1) year
from the Separation Date, so long as the payments are made or have been made in
accordance with this Agreement (the “Noncompete Period”), he shall not (i) directly
or indirectly own, manage, control, participate in, consult with, render
services for, or in any manner engage in, any business competing with the
Business of the Company in any country where the Company conducts business, or
plans to conduct business, provided such plans have been communicated to
Executive (a “Competing Business”), where for purposes of this Section 8(a),
the “Business” shall mean all commercial or therapeutic use that involves
mesenchymal stem cells (MSCs) or cells substantially similar to mesenchymal
stem cells, that is, a homogeneous population of cells that can differentiate
along more than one connective tissue lineage, regardless of the source; all
commercial efforts to deliver or improve the delivery of MSCs for therapeutic
purposes; all commercial efforts that would seek to enhance the endogenous in
vivo population of MSCs in the body by pharmaceutical or chemical means; any
other effort to commercially compete with the Company to which the Executive
has confidential knowledge.  (to cover
hiring, business partnerships, vendor relationships, etc.); (ii) assist
others in engaging in any Competing Business in the manner described in clause (i) above;
or (iii) induce any employee or independent contractor of the Company or
any subsidiary thereof to terminate his or her employment or relationship with
the 

 

 

Company or any
subsidiary thereof or engage in any Competing Business or in any way willfully
interfere with the relationship between the Company and any employee or
independent contractor thereof or (iv) induce or attempt to induce any
customer, supplier, licensee or other business relation of the Company to cease
doing business with the Company, or in any way interfere with the relationship
between any such customer, supplier, licensee or business relation and the
Company.  The ownership of not more than
5% of the stock of any entity having a class of equity securities actively
traded on a national securities exchange or on the NASDAQ Stock Market or any
minority interest in any private entity shall not be deemed, in and of itself,
to violate the prohibitions of this Section 9(a).

 

(b)           For a period of five (5) years after
the Execution Date, the Executive shall not disparage, deprecate, or make any
comments or take any other actions, directly or indirectly, that will reflect
adversely on the Company or its officers, directors, employees or agents or
adversely affect their business reputation or goodwill.

 

(c)           For a period of five (5) years after
the Execution Date, the officers and directors of the Company shall not
disparage, deprecate or make any comments or take any other actions, directly
or indirectly, that will reflect adversely on the Executive or adversely affect
his business reputation.

 

(d)           If any portion of the restrictions set
forth in this Section 8 should, for any reason whatsoever, be declared
invalid by a court of competent jurisdiction, the validity or enforceability of
the remainder of such restrictions shall not thereby be adversely
affected.  The Executive declares that
the territorial, time limitations and scope of activities restricted as set
forth in this Section 8 are reasonable and properly required for the
adequate protection of the business of the Company.  In the event that any such territorial, time
limitation and scope of activities restricted is deemed to be unreasonable by a
court of competent jurisdiction, the Company and the Executive agree to the
reduction of the territorial, time limitation or scope to the area or period
which such court shall have deemed reasonable. 
Executive acknowledges that the covenant included in Section 8(a) above
has unique, very substantial and immeasurable value to Company, and that
Executive has sufficient assets and skills to provide a livelihood for himself
while such covenant remains in force.

 

The
existence of any claim or cause of action by the Executive against the Company
shall not constitute a defense to the enforcement by the Company of the
foregoing restrictive covenants, but such claim or cause of action shall be
litigated separately.

 

9.             Enforcement. 
It is the desire and intent of the parties hereto that the provisions of
this Agreement be enforceable to the fullest extent permissible under the laws
and public policies applied in each jurisdiction in which enforcement is
sought.  Accordingly, to the extent that
a restriction contained in this Agreement is more restrictive than permitted by
the laws of any jurisdiction where this Agreement may be subject to review and
interpretation, the terms of such restriction, for the purpose only of the
operation of such restriction in such jurisdiction, will be the maximum
restriction allowed by the laws of such jurisdiction and such restriction will
be deemed to have been revised accordingly herein.

 

10.           Remedies; Survival. 
The Parties each acknowledge and understand that the covenants contained
in Sections 7 and 8 hereof, the violation of which cannot be accurately
compensated for in damages by an action at law, are of crucial importance to
the benefited Party, and that the breach or threatened breach of any of such
provisions by the other Party would cause the benefited Party irreparable harm.  In the event of a breach or threatened breach
by the other Party of any of the provisions of Sections 7 or 8 hereof, the
benefited Party will be entitled to seek an injunction restraining the other
Party from such breach.  Nothing herein
contained will be construed as prohibiting the benefited Party from pursuing
any other remedies available in law or in equity for any breach or threatened
breach of this Agreement, including without limitation, damages and an
equitable accounting of all earnings, profits and other benefits arising from
such breach.

 

11.           Cooperation. 
The Executive will cooperate with any reasonable request of the Company
for assistance from the Executive in respect of the transition of the
Executive’s previous responsibilities with the Company to his successor,
through December 31, 2009 and the Executive also will cooperate with any
reasonable request of the Company to participate in the preparation for,
response to, prosecution of and/or defense of any pending, actual or threatened
litigation or governmental investigation involving the Company that involves
activities allegedly occurring while the Executive was employed by the
Company.  Such assistance will be
provided with no additional compensation to Executive from the Company and the
Executive agrees to abide by all typical policies of the Company in respect of
confidentiality, non disclosure and the like in the providing by Executive of
such assistance.  The Company will,
however, reimburse the Executive for all reasonable out-of-pocket expenses he
incurs as a result of such assistance with prior approval of the Company.

 

12.           Governing Law. 
This Agreement shall be deemed to be made in, and in all respects to be
interpreted, construed and governed by and in accordance with the laws of the
State of Maryland, without giving effect to the principles of conflicts of law
under Maryland law.  The Parties shall
submit to the jurisdiction and venue of the state and federal courts located in
Maryland in the event that there is any claim of breach of this Agreement.  Both parties hereby waive their rights to
have any such claim resolved in a jury trial.

 

13.           Voluntary Execution by Executive. 
The Executive (a) has carefully read and understands the provisions
of this Agreement; (b) has been given the opportunity to examine this
Agreement for a period of up to 21 calendar days; and (c) is advised by
the Company that he should consult with his personal attorney before deciding
whether to accept this Agreement.  The
Executive’s signature to this Agreement signifies that this Section 13 has
been complied with, and that if this Agreement is signed by the Executive
before the expiration of the 21-day consideration period, the Executive is
voluntarily waiving his right to consider the Agreement for the entire 21-day
period.  The Parties recognize that the
Executive shall have seven days after the Executive returns a signed copy of
this Agreement to revoke the Agreement by 

 

 

submitting a
signed revocation notice to the Company. 
Upon the expiration of that seven day period; provided the Executive has
not revoked this Agreement, this Agreement shall become effective (the
“Effective Date”).

 

14.           Construction. 
Captions are inserted herein for convenience, do not constitute a part
of this Agreement and shall not be admissible for the purposes of proving the
intent of the Parties.  This Agreement
may be executed in two or more counterparts, each of which shall be deemed an
original.

 

15.           Severability. 
Should any provision of this Agreement be declared and/or determined by
any court to be illegal or invalid, the validity of the remaining parts, terms
or provisions shall not be affected.

 

Notice. 
All notices contemplated by this Agreement shall be sent to each of the
parties as follows:

 

	
  To:

  	
  Richard W. Hunt

  
	
   

  	
  7530 Damascus Road

  
	
   

  	
  Laytonsville, Maryland
  20882

  
	
   

  	
   

  
	
  To:

  	
  Osiris
  Therapeutics, Inc.

  
	
   

  	
  7015 Albert Einstein Drive

  
	
   

  	
  Columbia, Maryland 21046

  
	
   

  	
  Attention: President

  

 

Unless
otherwise specified herein, any Notice shall be deemed received (i) on the
date delivered, if by hand; or (ii) one business day after deposit with
FedEx or other overnight courier.  A
party may, by Notice given as aforesaid, change the person or persons and/or
address or addresses for its Notices; provided, however, that a Notice of a
change of addressee or address shall only be effective upon receipt.

 

16.           Public Disclosure. 
The Company and the Executive shall provide each other with a reasonable
opportunity to review and provide comments to any press release or other public
disclosure made by the Company or by the Executive or a future employer of the
Executive related to this Agreement or to the employment relationship between
the Company and the Executive.

 

17.           Binding Effect. 
This Agreement shall inure to the benefit of and be binding upon the
Parties and their respective executors, administrators, personal
representatives, heirs, predecessors, successors, assigns, directors, agents,
employees, trustees and affiliates forever.

 

18.           Entire Agreement. 
This Agreement, along with its Exhibits and the other documents referred
to in this Agreement, constitutes the entire agreement between the Parties with
respect to the termination of Executive’s employment and his severance pay and
benefits and supersedes any prior or contemporaneous written or oral agreements
between the Parties with respect thereto, including the Employment
Agreement.  Each of the Parties agrees
and acknowledges that in deciding to enter into this Agreement he or it is not
relying on any statements, representations, or promises other than those
contained herein.  This Agreement may not
be modified except by a writing, which has been signed by each of the Parties.

 

19.           Facsimile Signature. 
Any signature to this Agreement may be delivered by facsimile to the
other party to this Agreement, and such facsimile signature shall be valid
execution of this Agreement and be binding on both parties.

 

 

IN
WITNESS WHEREOF, and with the intention of being legally bound hereby, the
Parties have executed this Agreement as of the dates set forth below.

 

	
   

  	
   

  	
  Osiris Therapeutics, Inc.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. RANDAL MILLS

  
	
   

  	
  Name:

  	
  C. Randal Mills, Ph.D.

  
	
   

  	
  Title:

  	
  President & Chief Executive Officer

  
	
   

  	
  Date Executed:   
  September 9, 2009

  
	
   

  	
   

  
	
   

  	
   

  	
  The Executive

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ RICHARD W. HUNT

  
	
   

  	
  Name:

  	
  Richard W. Hunt

  
	
   

  	
  Date Executed:   
  September 8, 2009

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]