Document:

Summary of Compensation Arrangements for Certain Named Executive Officers

 Exhibit 10-kk 
  
 Summary of 
 Compensation Arrangements for 
 Certain Named Executive Officers 
  
 Set forth below is a summary of the compensation paid by MEMC Electronic Materials, Inc. (the
“Company”) to the four executive officers to be named in the Company’s 2005 annual proxy statement who are not covered by current employment agreements, as of the date of filing of the Company’s Annual Report on Form 10-K for the
year ended December 31, 2004 (the “Form 10-K”). Each of these executive officers is an employee at will whose compensation and employment status may be changed at any time in the discretion of the Company’s Board of Directors.

  
 Base Salaries. Effective January 31, 2005, these executive officers
will receive base salaries in the amounts indicated below: 
  

				
	 Name and Position

	  	2005 Base Salary Amount

	 Thomas E. Linnen, Senior Vice President and Chief Financial Officer
	  	$	325,000
		
	 John A. Kauffmann, Senior Vice President, Sales and Marketing
	  	$	300,000
		
	 Shaker Sadasivam, Senior Vice President, Research and Development
	  	$	300,000
		
	 David L. Fleisher, Vice President, General Counsel and Corporate Secretary
	  	$	242,000

  
 The Compensation Committee will adjust
these base salaries from time to time as the Committee deems appropriate, generally annually. 
  
 Incentive Awards. These executive officers are also eligible to participate in the Company’s incentive compensation plans as provided in the terms of such plans. Such plans, and any forms of awards
thereunder providing for material terms, are included as exhibits to the Form 10-K. 
  
 Pension Plan. These executive officers are also eligible to participate in the MEMC Pension Plan on the same terms as the Company’s other covered employees. Because he commenced employment after December 31, 2001, Mr. Linnen is
not covered by the Pension Plan. 
  
 Relocation Payments. From time to time
the Company makes payments to executive officers to cover relocation expenses.Summary of Director Compensation

 Exhibit 10-ll 
  
 Summary of 
 Director Compensation 
  
 Set forth below is a summary of the
compensation paid by MEMC Electronic Materials, Inc. (the “Company”) to its directors. 
  
 Fees. Outside directors receive the following fees for their services on the Board of Directors and its Committees: 
  
 $12,000 annual Board retainer 
  
 $10,000 additional retainer for Chairman of the Board 
  
 $10,000 additional retainer for Chairman of the Audit Committee and $5,000 additional retainer for each member of the Audit Committee 
  
 $5,000 additional retainer for Chairman of the Compensation Committee and
for Chairman of the Nominating and Corporate Governance Committee 
  
 $1,000 for each Board meeting and each Committee meeting attended 
  
 Equity Compensation. Annual equity compensation is granted as follows: 
  
 Upon initial election to the Board, outside directors who are not affiliated with Texas Pacific Group, Leonard Green & Partners and TCW/Crescent Mezzanine Management III LLC receive a grant of non-qualified stock
options to purchase 30,000 shares of MEMC common stock at an exercise price per share equal to the fair market value per share on the date of grant. These options vest ratably over three years. The grant of these stock options in the initial year of
service on the Board is in lieu of the award of restricted stock units (RSUs) described below. 
  
 Each year outside directors are awarded RSUs for shares of our common stock. The RSUs vest ratably over two years. Each year, RSUs are awarded in an
amount such that the number of underlying shares of MEMC common stock has a total value of between $55,000 and $60,000 on the date the award is granted. Notwithstanding the foregoing, in 2003 we did not have a plan from which the RSUs could be
issued. As a result, at the 2004 annual stockholders’ meeting, we sought and obtained stockholder approval to amend our equity incentive plans to provide for grants of RSUs. On April 27, 2004, following stockholder approval of these amendments,
we awarded our outside directors who were serving on the Board in July 2003 RSUs to purchase 5,000 shares of common stock as compensation for service during 2003. Fifty percent (50%) of these RSUs vested in July 2004 and the remaining fifty percent
(50%) will vest in July 2005. In addition, on July 26, 2004, we awarded our outside directors RSUs to purchase 6,800 shares of common stock. Fifty percent (50%) of these RSUs will vest in July 2005 and the remaining fifty percent (50%) will vest in
July 2006. Mr. Chapus declined all RSUs awarded to him in 2004.Extension of Forbearance Agreement

 Exhibit 10.1 
  
 [LETTERHEAD OF MERRILL LYNCH] 
  
 March 11, 2005 
  
 Dreams Products, Inc. 
 2 South University Drive 
 Suite 325 
  
 Re: Amendment to Loan Documents 
  
 Ladies & Gentlemen: 
  
 This Letter Agreement will serve to confirm certain agreements of Merrill Lynch Business Financial Services Inc. (“MLBFS”), Dreams Products, Inc. (“Customer”), Dreams, Inc. (“Dreams”),
and Dreams Franchise Corporation (“Franchise”) with respect to: (I) that certain FORBEARANCE AGREEMENT dated as of December 30, 2004 between MLBFS on the one hand, and Customer, Dreams and Franchise (collectively, Customer, Dreams
and Franchise, the “Obligors” or the “Parties”) on the other hand (including any previous amendments and extensions thereof), and (ii) all other agreements between MLBFS and Obligors including without limitation the Loan
Documents. Capitalized terms used herein and not defined herein shall have the meaning set forth in the Forbearance Agreement, or if not defined in the Forbearance Agreement, the Loan Documents. 
  
 Subject to the last sentence of this Letter Agreement, effective as of today, the Loan
Documents are hereby amended as follows: 
  
 (a) Section 4(e)(i) of the
Forbearance Agreement is hereby amended and restated in its entirety as follows: The term “Maximum WCMA Line of Credit” shall mean, (i) as of the Effective Date (as hereinafter defined) through and including the calendar day immediately
preceding the “Change Date” (as hereinafter defined), $4,500,000.00 and (iii) effective the Change Date through April 29, 2005, $3,500,000.00. For purposes hereof, the term “Change Date” shall mean the earlier to occur of (a) the
date of the closing of any transaction involving the sale of $2,200,000.00, or any other sum, in equity by the Customer or any Obligor through a “rights offering” or any other equity offering consummated by Customer or any Obligor (the
“Rights Offering”), or (b) April 15, 2005. CUSTOMER AGREES THAT IT WILL, WITHOUT DEMAND, INVOICING OR THE REQUEST OF MLBFS, FROM TIME TO TIME MAKE SUFFICIENT PAYMENTS ON ACCOUNT OF THE WCMA LOAN BALANCE TO ASSURE THAT THE WCMA LOAN
BALANCE WILL NOT AT ANY TIME EXCEED THE MAXIMUM WCMA LINE OF CREDIT, AS REDUCED EACH MONTH PURSUANT TO THIS SECTION IN THE AMOUNTS SPECIFIED IN THIS SECTION. 
  
 (b) Obligors hereby agree to pay to MLBFS, the sum of $50,000.00 (“Exit Fee”) if the Obligations under the Forbearance Agreement
and Loan Documents are not fully repaid by April 29, 2005. The Exit Fee shall be in addition to all other charges under the Forbearance Agreement and Loan Documents, and shall become a WCMA Loan, due immediately and added to the WCMA Loan Balance in
the same manner as provided for accrued interest with respect to the WCMA Line of Credit. 
  
 By their execution of this Letter Agreement, the Obligors hereby consent to the foregoing modifications to the Forbearance Agreement, and hereby agree that except as expressly amended hereby, the Forbearance Agreement
and Loan Documents shall continue in full force and effect upon all of their terms and conditions. 
  
 Obligors acknowledge, warrant and agree, as a primary inducement to MLBFS to enter into this Agreement, that: (a) no Default or Event of Default has occurred and is continuing under the Forbearance Agreement or Loan
Documents, other than the Defaults or Events of Defaults referenced in the Forbearance Agreement; (b) each of the warranties of Obligors in the Forbearance Agreement and Loan Documents are true and correct as of the date hereof and shall be deemed
remade as of the date hereof; (c) no Obligor has any claim against MLBFS or any of its affiliates arising out of or in connection with the Forbearance Agreement or Loan Documents or any other matter whatsoever; and (d) no Obligor has any defense to
payment of any amounts owing, or any right of counterclaim for any reason under, the Forbearance Agreement or Loan Documents. 

 Notwithstanding the foregoing, if each Obligor does not execute and return the duplicate copy of this Letter Agreement to
MLBFS by 5PM CST March 11, 2005, then all of said amendments and agreements will, at the sole option of MLBFS, be void. 
  
 Very truly yours, 
  

			
	Merrill Lynch Business Financial Services Inc.
	
	 By:     /s/ Bill Kocolowski

	           Bill Kocolowski

	           Vice President

	
	 Agreed and Accepted:

	
	 Dreams, Inc.

	
	 By:     /s/ Ross Tannenbau

	 Printed Name:
	 	 Ross Tannenbaum

	 Title: President/CEO

	
	 Dreams Products, Inc.

	
	 By:     /s/ Ross Tannenbau

	 Printed Name:
	 	 Ross Tannenbaum

	 Title: President/CEO

	
	 Dreams Franchise Corporation

	
	 By:     /s/ Ross Tannenbaum

	 Printed Name:
	 	 Ross Tannenbaum

	 Title: President/CEOForm of Nonstatutory Stock Option Agreement

 Exhibit 10.1 
  
 ICAGEN, INC. 
  
 Nonstatutory Stock Option Agreement 
 Granted
Under 2004 Stock Incentive Plan 
  
 [FOR DIRECTOR OPTIONS]

 [NOTE: Such director options may only be granted to the individual who is director] 
  

	1.	Grant of Option. 

  
 This agreement evidences the grant by Icagen, Inc., a Delaware corporation (the “Company”), on
            , 200   (the “Grant Date”) to
                     , a director of the Company (the “Participant”), of an option to purchase, in whole or in part, on
the terms provided herein and in the Company’s 2004 Stock Incentive Plan (the “Plan”), a total of                     
shares (the “Shares”) of common stock, $0.001 par value per share, of the Company (“Common Stock”) at $             per Share. Unless earlier terminated,
this option shall expire at 5:00 p.m., Eastern time, on                      (the “Final Exercise Date”). 
  
 It is intended that the option evidenced by this agreement shall not be an
incentive stock option as defined in Section 422 of the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the “Code”). Except as otherwise indicated by the context, the term “Participant”, as
used in this option, shall be deemed to include any person who acquires the right to exercise this option validly under its terms. 
  

	2.	Vesting Schedule. 

  
 [This option will become exercisable (“vest”) as to     % of the original number of Shares at the end of each
successive one-month period following the Grant Date until the third anniversary of the Grant Date, subject to continued service as a director of the Company.] 
  

The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum extent permissible it shall
continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination of this option under Section 3 hereof or the Plan. 
  

	3.	Exercise of Option. 

  
 (a) Form of Exercise. Each election to exercise this option shall be in writing, signed by the Participant, and received by the Company at its
principal office, accompanied by this agreement, and payment in full as follows: 
  
 (1) in cash or by check, payable to the order of the Company; 
  
 (2) by (i) delivery of an irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the
Company sufficient funds to pay the exercise 

 
price and any required tax withholding or (ii) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a
creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding; 
  
 (3) with the approval of the Board, when the Common Stock is registered under the Exchange Act, by delivery of shares of Common Stock owned by the
Participant valued at their fair market value as determined by (or in a manner approved by) the Board in good faith (“Fair Market Value”), provided (i) such method of payment is then permitted under applicable law and (ii) such Common
Stock, if acquired directly from the Company, was owned by the Participant at least six months prior to such delivery; 
  
 (4) to the extent permitted by applicable law and by the Board, in its sole discretion by (i) delivery of a promissory note of the Participant to the
Company on terms determined by the Board, or (ii) payment of such other lawful consideration as the Board may determine; or 
  
 (5) by any combination of the above permitted forms of payment. 
  

The Participant may purchase less than the number of shares covered hereby, provided that no partial exercise of this option may be for any fractional share.

  
 (b) Continuous Relationship with the Company Required.
Except as otherwise provided in this Section 3, this option may not be exercised unless the Participant, at the time he or she exercises this option, is, and has been at all times since the Grant Date, a director of the Company or any other entity
the employees, officers, directors, consultants, or advisors of which are eligible to receive option grants under the Plan (an “Eligible Participant”). 
  
 (c) Termination of Relationship with the Company. If the Participant ceases to be an Eligible Participant for any
reason, then, except as provided in paragraph (d) below, the right to exercise this option shall terminate three months after such cessation (but in no event after the Final Exercise Date), provided that this option shall be
exercisable only to the extent that the Participant was entitled to exercise this option on the date of such cessation. Notwithstanding the foregoing, if the Participant, prior to the Final Exercise Date, violates the non-competition or
confidentiality provisions of any employment contract, confidentiality and nondisclosure agreement or other agreement between the Participant and the Company, the right to exercise this option shall terminate immediately upon such violation.

  
 (d) Exercise Period Upon Death or Disability. If the
Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant, this option shall be exercisable, within the period of one year following the date
of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this option shall be exercisable only to the extent that this option was exercisable by the Participant
on the date of his or her death or disability, and further provided that this option shall not be exercisable after the Final Exercise Date. 
  

 -2- 

	4.	Agreement in Connection with Public Offering. 

  
 The Participant agrees, in connection with an underwritten public offering of the Company’s securities pursuant to a registration statement under the
Securities Act, (i) not to sell, make short sale of, loan, grant any options for the purchase of, or otherwise dispose of any shares of Common Stock held by the Participant (other than those shares included in the offering) without the prior written
consent of the Company or the underwriters managing such initial underwritten public offering of the Company’s securities for such number of days (not to exceed 180 days) from the effective date of such registration statement as the Company or
the managing underwriters may require, and (ii) to execute any agreement reflecting clause (i) above as may be requested by the Company or the managing underwriters at the time of such offering. 
  

	5.	Withholding. 

  
 No Shares will be issued pursuant to the exercise of this option unless and until the Participant pays to the Company, or makes provision satisfactory to
the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option. When the Common Stock is registered under the Exchange Act, Participant may satisfy such tax obligations in whole or
in part by delivery of shares of Common Stock owned by Participant valued at their Fair Market Value; provided, however, that the total tax withholding where stock is being used to satisfy such tax obligations cannot exceed the Company’s
minimum statutory withholding obligations (based on minimum statutory withholding rates for federal and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable income). The Company may, to the extent permitted
by law, deduct any such tax obligations from any payment of any kind otherwise due to Participant. 
  

	6.	Nontransferability of Option. 

  
 This option may not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except
by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the Participant. 
  

	7.	Provisions of the Plan. 

  
 This option is subject to the provisions of the Plan, a copy of which is furnished to the Participant with this option. 
  
 IN WITNESS WHEREOF, the Company has caused this option to be executed under
its corporate seal by its duly authorized officer. This option shall take effect as a sealed instrument. 
  

 -3- 

					
	 	 	Icagen, Inc.
			
	 Dated:                     
  
	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

  

 -4- 

 PARTICIPANT’S ACCEPTANCE 
  
 The undersigned hereby accepts the foregoing option and agrees to the terms and conditions thereof. The undersigned hereby
acknowledges receipt of a copy of the Company’s 2004 Stock Incentive Plan. 
  

			
	PARTICIPANT:
	
	  

	Address:	 	  

	 	 	  

  

 -5-

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