Document:

Exhibit 10.5

 

AMENDMENT TO THE

ARRAY BIOPHARMA INC.

 

EMPLOYEE STOCK PURCHASE PLAN

(as amended and
restated September 12, 2002,

and as amended on April 29, 2004)

 

Pursuant to
the authority of the Board of Directors of Array BioPharma Inc (the “Company”)
and Section 24 of the Array BioPharma Inc. Employee Stock Purchase Plan (as
amended and restated September 12, 2002, and as amended on April 29, 2004) (the
“Plan”), the Plan is hereby amended as set forth below:

 

1.                                       The
first sentence of Section 1, “Shares Subject to the Plan”, is hereby amended
and restated as follows:

 

“Subject to
adjustment as provided in Section 26 below, the aggregate number of shares of
Common Stock that may be made available for purchase by participating employees
under the Plan is 1,650,000.”

 

2.                                       Section
4, “Eligible Employees”, is hereby amended to delete subparagraph (a) thereof.

 

3.                                       Section
14(a), “Changes in Election to Participate”, is hereby
amended and restated as follows:

 

“(a)                        A
participating employee may, at any time prior to the last trading day of the
Offering Period, by written notice to the Company, direct the Company to cease
payroll deductions (or, if the payment for shares is being made through
periodic cash payments, notify the Company that such payments will be terminated),
and the amount in the employee’s account will be distributed and the employee’s
option to purchase will terminate, unless the employee elects, by written
notice to the Company, not to have such amount distributed, in which event such
amount shall remain in the employee’s account and available to exercise his or
her option to purchase shares under the Plan during such Offering Period.”

 

4.                                       This
Amendment to the Array BioPharma Inc. Employee Stock Purchase Plan (the “Amendment”)
was approved by the Board of Directors of the Company on December 9, 2005 and
shall be effective thereon; provided, however, that the amendments set forth in
Sections 1 and 2 of this Amendment are contingent upon the approval of such
amendments by a majority vote by the stockholders of the Company on or prior to
December 9, 2006 (“Stockholder Approval”). 
If Stockholder Approval is not attained, then the provisions of Sections
1 and 4 of the Plan as in effect immediately prior to the time the Board of
Directors approved this Amendment shall remain in effect.

 

 

5.                                       This
Amendment shall affect only those provisions of the Plan set forth herein, and
all of the remaining terms and provisions of the Plan shall not be modified or
amended hereby and shall continue in full force and effect.

 

*                                         *                                         *                                         *                                         *

 

 

This Amendment
to the Plan was duly adopted and approved by the Board of Directors of the
Corporation by unanimous written consent on December 9, 2005.

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  R. Michael
  Carruthers

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Chief
  Financial OfficerExhibit 10.6

 

First
Amendment to the

Amended
and Restated

Deferred Compensation Plan of Array BioPharma Inc.

 

WHEREAS,
Array BioPharma Inc. (the “Company”) adopted the Amended and Restated Deferred
Compensation Plan of Array BioPharma Inc. (the “Plan”) on August 1, 2004,

 

WHEREAS,
Section 8.2 of the Plan provides for the amendment of the Plan, and

 

WHEREAS,
pursuant to the guidance provided by the Proposed Treasury Regulations
promulgated under Internal Revenue Code Section 409A and IRS Notice 2005-1,
the Company desires to amend the Plan to provide that distributions may
commence three (3) years from the year of deferral.

 

NOW,
THEREFORE, BE IT RESOLVED, that, effective as of the
date hereof, Section 4.1(b) is deleted in its entirety and restated
to read as follows:

 

“(b)                           Either
on January 1 of the third year following the calendar year in which
contributions and deferrals were made or any January 1 thereafter.”

 

FURTHER
RESOLVED, that, effective as of the date hereof, a new
Section 4.5(g) is added to the end of Section 4.5 of the Plan to
read as follows:

 

“(g)                           Notwithstanding
any other provisions of the Plan, the Plan Administrator may permit a
Participant to change the form or timing of his or her distribution elections
as set forth on an Elective Deferral Form if (1) the change is
consistent with Sections 4.1 and 4.2 and (2) the change is made prior to December 31,
2005; provided, however, that the distribution must be made following the first
to occur of either separation from Service or a specified month and year in the
future and that the form and timing of a distribution with respect to a
Participant whose Service has terminated will be determined in a manner
consistent with Sections 4.1, 4.2 , 4.3 and 4.4.”

 

FURTHER
RESOLVED, that, in all other respects not amended, the
Plan is ratified.

 

 

IN WITNESS
WHEREOF, the Company has caused this First Amendment
to the Amended and Restated Deferred Compensation Plan of Array BioPharma Inc.
to be executed this 15th day of November 2005, by its duly
authorized officer.

 

 

	
   

  	
  ARRAY BIOPHARMA INC.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: R. Michael Carruthers

  
	
   

  	
  Title: Chief Financial Officer

  

 

 

FIRST
AMENDMENT TO THE

AMENDED
AND RESTATED DEFERRED COMPENSATION PLAN

OF ARRAY BIOPHARMA INC.

 

WHEREAS,
Array BioPharma Inc. (the “Corporation”)
has adopted the Amended and Restated Deferred Compensation Plan of Array
BioPharma Inc. (the “Plan”), which has been
amended from time to time and which was most recently restated by the adoption
of The CORPORATEplan for  RetirementSM EXECUTIVE Plan, Fidelity Basic Plan
Document (the “Basic Plan Document”), by executing an Adoption Agreement on January 30,
2006 (the “Adoption Agreement”);

 

WHEREAS, Section 9.01
of the Basic Plan Document, provides for the amendment of the Plan by the
Corporation, and

 

WHEREAS, the
Corporation desires to amend the Plan to provide (1) for the participation
by members of the Corporation’s Board of Directors, (2) provide discretion
of employer and matching contributions, (3) to alter the timing of certain
distributions, and (4) to provide for the assumption of the Plan upon a
Change of Control.

 

NOW,
THEREFORE,  BE IT RESOLVED, that,
effective as of the date hereof, Section 2.01(a)(8) of
the Basic Plan Document is hereby amended to add a new sentence at the end of
such section to read as follows:

 

“Notwithstanding
the preceding, for purposes of an Employee who is a Self-Employed Individual,
Compensation means Earned Income.”

 

FURTHER
RESOLVED, that, effective as of the date hereof, Section 1.05(b)(4)(E) of the Adoption Agreement is hereby deleted in
its entirety and restated to read as follows:

 

“(E)                           No
requirements; provided, however, that the Administrator may determine that
certain Participants are not entitled to Matching Contributions.”

 

 

FURTHER
RESOLVED, that, effective as of the date hereof, Section 1.05(c)(3)(E) of the Adoption Agreement is hereby deleted in
its entirety and restated to read as follows:

 

“(E)                           No
requirements; provided, however, that the Administrator may determine that
certain Participants are not entitled to Employer Contributions.”

 

FURTHER
RESOLVED, that, effective as of the date hereof, Section 1.06(b)(1)(B) of the Adoption Agreement is hereby deleted in
its entirety and restated to read as follows:

 

“(B)                          The date
elected by the Participant, pursuant to Plan Section 8.02, and subject to
the restrictions imposed in Plan Section 8.02 with respect to future
Deferral Contributions, in which event such date of distribution must be at
least three years after the date such Deferral Contribution would have been
paid to the Participant in cash in the absence of the election to make the
Deferral Contributions.  Distributions
shall commence on the first of the month following the date of the
distributable event.”

 

FURTHER RESOLVED, that, effective as of the
date hereof, Section 1.06(c) of the Adoption Agreement is hereby
deleted in its entirety and restated to read as follows:

 

“(c)                            Upon a
Change of Control in accordance with Plan Section 7.08; provided, however,
that a distribution shall not begin upon a Change of Control if a provision for
the assumption or continuation of the Plan is made in writing in connection
with such Change of Control.”

 

FURTHER
RESOLVED, that, effective as of the date hereof, Section 1.06(b)(1) of the Adoption Agreement is hereby deleted in its
entirety and restated to read as follows:

 

“(1) Upon the earliest to occur of:”

 

FURTHER
RESOLVED, that, effective as of the date hereof, a new
Section 1.13 is added to the Adoption Agreement to read as follows:

 

“1.13                     Administrator
may permit Participants to change their elections in a manner consistent with
Internal Revenue Code Section 409A and the guidance promulgated
thereunder.”

 

 

IN WITNESS
WHEREOF, the Corporation has caused this First
Amendment to the Amended and Restated Deferred Compensation Plan of Array
BioPharma Inc. to be executed this 30th day of January 2006, by
its duly authorized officer.

 

 

	
  ARRAY
  BIOPHARMA INC.

  	
   

  
	
   

  	
   

  
	
   

  	
  By: R. Michael Carruthers

  
	
   

  	
   

  
	
   

  	
  Title: Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Attest:

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