Document:

Exhibit

Exhibit 10.3

ENTEGRIS, INC.
2018 Stock Option Award Agreement 

In consideration of services rendered to Entegris, Inc. (the “Company”), the Company periodically makes equity incentive awards consisting of stock options with respect to the Company’s Common Stock $0.01 par value (“Stock”) to certain key employees, non-employee directors, consultants or advisors of the Company under the Company’s 2010 Stock Plan (as amended from time to time, the “Plan”).  Any key employee, non-employee director, consultant or advisor (a “Participant”) who receives a stock option award (the “Award”) is notified in writing or via email and the Award is credited to the Participant’s account as reflected on the Overview tab under the Stock Options Plan section on the Morgan Stanley Stock Plan Connect web page found at https://www.stockplanconnect.com.  By clicking on the “Accept” button for the Award in the Stock Options Plan section on the Overview tab or by otherwise receiving the benefits of the Award, Participant:  (i) acknowledges that Participant has received a copy of the Plan, of the related prospectus providing information concerning awards under the Plan and of the Company’s most recent Annual Report on Form 10-K; and (ii) accepts the Award and agrees with the Company that the Award is subject to the terms of the Plan and to the following terms and conditions: 
ARTICLE I –STOCK OPTION GRANT 
		
	1.1.
	Option Grant.  Effective as of the date specified in the Stock Options Plan section provided to you online (the “Grant Date”), the Company hereby grants Participant a non-qualified option to purchase that number of shares of Stock that has been approved for the Award to the Participant by the Plan Administrator (“Option”).  The shares of Stock awarded are specified in the Stock Options Plan section in the Granted column online at www.stockplanconnect.com.  The Option is not intended to be an incentive stock option under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”) and will be interpreted accordingly.  

		
	1.2.
	Option Exercise Price.  The exercise (grant) price of the Option shall be 100% of the closing price of the Stock on the NASDAQ stock market on the Grant Date.  The exercise price is provided to Participant online at www.stockplanconnect.com.   

		
	1.3.
	Option Vesting Schedule.  This Option shall vest and become exercisable, except as hereinafter provided, in whole or in part, at any time and from time to time as follows:

		
	Ø
	1/4 on and after February 19, 2019;

		
	Ø
	an additional 1/4 on and after February 19, 2020; 

		
	Ø
	an additional 1/4 on and after February 19, 2021; 

		
	Ø
	the final 1/4 on and after February 19, 2022.

In the event that any of the above vesting dates falls on a day that the Company is not open for business, then vesting of the applicable portion shall occur on the next succeeding day that the Company is open for business.  

		
	1.4.
	Expiration of Option.  To the extent that the Option shall not have been exercised, this Option shall expire at 5:00 p.m. local time at the Company’s headquarters on February 19, 2025 and no part of the Option may be exercised thereafter.  If an expiration, termination or forfeiture date described herein falls on a weekday, Participant must exercise the Option before 5:00 p.m. local time at the Company’s headquarters on that date.  If an expiration, termination or forfeiture date described herein 

2018 Stock Option Award Agreement

falls on a weekend or any other day on which the NASDAQ stock market is not open, Participant must exercise the Options before 5:00 p.m. local time at the Company’s headquarters on the last NASDAQ business day prior to the expiration, termination or forfeiture date.

		
	1.5.
	Exercise of Option.  When and as vested, this Option may be exercised up to the number of shares of Stock specified in Section 1.1 above only by serving written notice on the designated stock plan administrator.  Until the Administrator determines otherwise, payment of the Option exercise price specified in Section 1.2 above shall be made through net share settlement procedures whereby that number of the Option shares being exercised that are needed to cover the payment of the Option exercise price (calculated using the Fair Market Value of the Company’s stock on the date of exercise) shall be cancelled to fund the payment of the Option Exercise price and the net shares remaining after such cancellation shall be credited to Participant’s account. No fractional Shares shall be issued pursuant to this Agreement. Participant will have the rights of a stockholder only after the shares of Stock have been issued to the Participant in accordance with this Agreement.  

		
	1.6.
	No Assignment of Option.  This Option may not be assigned or transferred except as may otherwise be provided by the terms of this Agreement.

		
	1.7.
	Basic Adjustments for Changes in Capital Structure.  The Administrator shall make adjustments from time to time in the number of shares of Stock covered by the Option in such reasonable manner as the Administrator may determine to reflect any increase or decrease in the number of issued shares of Stock of the Company resulting from a subdivision or consolidation of shares or any other capital adjustment, the payment of stock dividends or other increases or decreases in such Stock effected without receipt of consideration by the Company.

		
	1.8.
	Termination of Employment or Service with the Company.  All exercisable Options granted herein must be exercised within ninety (90) days following the date on which the employment or services of Participant with the Company or one of its subsidiaries terminates (i.e., last day worked, excluding any severance period) (“Termination Date”), or be forfeited, except as provided in Section 2.3 below and as follows:

		
	(a)
	In the event of Participant’s death during employment/services, each Option granted hereunder will be exercisable, whether or not vested on the date of Participant’s death, until the earlier of:  (1) the first anniversary of Participant’s date of death; or (2) the original expiration date of the option.  In the event of Participant’s death during a Special Exercise Period as specified in Section 2.3 below, each Option will continue to be exercisable in accordance with the provisions of that Section.

		
	(b)
	In the event of the termination of employment/services of Participant due to Disablement, Participant may exercise the Option, to the extent not previously exercised and whether or not the option had vested on or prior to the date of employment or service termination, at any time prior to 365 days following the later of the date of Participant’s separation from service due to Participant’s Disablement or the date of determination of Participant’s Disablement, provided, however, that while the claim of Disablement is pending, Options that were unvested at termination of services may not be exercised and Options that were vested at termination of services may be exercised only during the period set forth in the introductory clause to this Section 1.8.  The Option shall terminate on the 365th day from the date of determination of Disablement, to the extent that it is unexercised.  For these purposes “Disablement” shall be determined in accordance with the standards and procedures of the then-current Long Term Disability policies maintained by the Company, which is generally a physical condition arising 

2018 Stock Option Award Agreement    -2-

from an illness or injury, which renders an individual incapable of performing work in any occupation, as determined by the Company.
		
	(c)
	If Participant’s employment/services is terminated for “Cause”, all granted but unexercised stock Options shall be forfeited on Participant’s Termination Date.

		
	1.9.
	Suspension of Option Exercises. For administrative or other reasons, the Company may, from time to time, suspend the ability of Participants to exercise options for limited periods of time.  Notwithstanding the above, the Company shall not be obligated to deliver any shares of Stock during any period when the Company determines that the exercisability of the Option or the delivery of shares hereunder would violate any federal, state or other applicable laws.

		
	1.10.
	Withholding of Income Taxes.  Nonqualified stock options are subject to withholding tax upon exercise.  Until the Administrator determines otherwise, such payment of Participant’s withholding tax obligations shall be made through net share settlement procedures whereby that number of the Option shares being exercised needed to cover the withholding tax obligation (calculated using the Fair Market Value of the Company’s stock on the date of exercise) shall be cancelled to fund the Company’s payment of the withholding tax obligation and the net shares remaining after such cancellation shall be credited to Participant’s account.

ARTICLE II – GENERAL PROVISIONS 
		
	2.1.
	Definitions. Except as otherwise expressly provided, all terms used herein shall have the same meaning as in the Plan.  The term “Administrator” means the Management Development & Compensation Committee of the Company’s Board of Directors.

		
	2.2.
	Mergers, etc.  To the extent that the Participant is not covered by a separate Executive Change In Control Termination Agreement with the Company which contains provisions specifying the treatment of the Award in the event of a change in control as defined therein or in any of the events listed in clauses (i) through (iii) below, in the event of any of (i) a consolidation or merger in which the Company is not the surviving corporation or which results in the acquisition of all or substantially all of the Company's then outstanding common stock by a single person or entity or by a group of persons and/or entities acting in concert, (ii) a sale or transfer of all or substantially all the Company's assets, or (iii) a dissolution or liquidation of the Company (a “Covered Transaction”), the vesting of all Options under each outstanding Award pursuant to Article I above will be accelerated and such shares will become fully exercisable prior to the Covered Transaction on a basis that gives the Participant a reasonable opportunity, as determined by the Administrator, following delivery of the shares, to participate as a stockholder in the Covered Transaction.  In connection with any Covered Transaction in which there is an acquiring or surviving entity, the Administrator may provide for substitute or replacement Awards from, or the assumption of Awards by, the acquiring or surviving entity or its affiliates, any such substitution, replacement or assumption to be on such terms as the Administrator determines, provided that no such replacement or substitution shall diminish in any way the acceleration of Options provided for in this section.

		
	2.3.
	Retirement, etc.  If Participant is an employee of the Company and ceases to be an employee due to retirement with the consent of the Administrator, Participant will be entitled to a special exercise period with respect to the Option (the “Special Exercise Period”) which will begin on Participant’s Retirement Date and will end on the earlier of the 4th anniversary of Participant’s Retirement Date or the expiration date specified in Section 1.4 above.  During the Special Exercise Period, the Option will continue to vest in accordance with the schedule specified in Section 1.3 above and will be exercisable to the same extent that it would have been exercisable had Participant remained in service 

2018 Stock Option Award Agreement    -3-

with the Company or one of its subsidiaries.  As used herein the term “retirement with the consent of the Administrator” means that Participant’s retirement must be with the consent of the Administrator, which consent may be granted or withheld in the discretion of the Administrator.  In the event that Participant ceases to be an employee under circumstances that would otherwise qualify for retirement but the consent of the Administrator has not been granted, then Participant shall not be entitled to the benefits of this Section 2.3.
		
	2.4.
	No Understandings as to Employment, etc. The Participant further expressly acknowledges that nothing in the Plan or any modification thereto, in the Award or in this Agreement shall constitute or be evidence of any understanding, express or implied, on the part of the Company to continue the employment or services of  the Participant for any period or to give rise to any right to remain in the service of the Company or of any subsidiary or affiliate of the Company, and the Participant shall remain subject to discharge to the same extent as if the Plan had never been adopted or the Award had never been made.

		
	2.5.
	Acts of Misconduct.  If Participant has allegedly committed an act of serious misconduct, including, but not limited to, embezzlement, fraud, dishonesty, unauthorized disclosure of trade secrets or confidential information, breach of fiduciary duty or nonpayment of an obligation owed to the Company, an Executive Officer of the Company may suspend Participant’s rights under the Award, including the vesting of Options and the exercise of vested Options, pending a decision by the Administrator or an Executive Officer of the Company to terminate the Award.  No rights under the Award may be exercised during such suspension or after such termination.

		
	2.6.
	Data Protection Waiver.  Participant understands and agrees that in order to process and administer the Award and the Plan, the Company and the Administrator may process personal data and/or sensitive personal information concerning the Participant.  Such data and information includes, but is not limited to, the information provided in the Award grant package and any changes thereto, other appropriate personal and financial data about Participant, and information about Participant’s participation in the Plan and transactions under the Plan from time to time.  Participant hereby gives his or her explicit consent to the Company and the Administrator to process any such personal data and/or sensitive personal information.  Participant also hereby gives his or her explicit consent to the Company and the Administrator to transfer any such personal data and/or sensitive personal data outside the country, in which Participant works, is employed, or provides services, and to the United States.  The legal persons granted access to such Participant personal data are intended to include the Company, the Administrator, the outside plan administrator as selected by the Company from time to time, and any other compensation consultant or person that the Company or the Administrator may deem appropriate for the administration of the Plan or the Award.  Participant has been informed of his or her right of access and correction to Participant’s personal data by contacting the Company.  Participant also understands that the transfer of the information outlined herein is important to the administration of the Award and the Plan and failure to consent to the transmission of such information may limit or prohibit Participant’s participation under the Plan and/or void the Award.

		
	2.7.
	Disputes.  The Administrator designated in the Plan or its delegate shall finally and conclusively determine any disagreement concerning the Award.

		
	2.8.
	Savings Clause.  In the event that Participant is employed or provides services, in a jurisdiction where the performance of any term or provision of this Agreement by the Company:  (i) will result in a breach or violation of any statute, law, ordinance, regulation, rule, judgment, decree, order or statement of public policy of any court or governmental agency, board, bureau, body, department or authority, or (ii) will result in the creation or imposition of any penalty, charge, restriction, or material adverse effect upon the Company, then any such term or provision shall be null, void and of no effect.

2018 Stock Option Award Agreement    -4-

		
	2.9.
	Amendment.  The Company may amend the provisions of this Agreement at any time; provided that an amendment that would materially adversely affect the Participant’s rights under this Agreement shall be subject to the written consent of the Participant. No course of conduct or failure or delay in enforcing the provisions of this Agreement shall affect the validity, binding effect or enforceability of this Agreement. 

		
	2.10. 
	Plan.  The terms and provisions of the Plan are incorporated herein by reference, a copy of which has been provided or made available to the Participant.  In the event of a conflict or inconsistency between the terms and provisions of the Plan and the provisions of this Agreement, the Plan shall govern and control.

		
	2.11.
	Successors.  The terms of this Agreement shall be binding upon and inure to the benefit of the Company, its successors and assigns, and the Participant and the beneficiaries, executors, administrators, heirs and successors of the Participant. 

		
	2.12.
	Entire Agreement.  This Agreement and the Plan contain the entire agreement and understanding of the parties hereto with respect to the subject matter contained herein and supersede all prior communications, representations and negotiations in respect thereof. 

2018 Stock Option Award Agreement    -5-Exhibit 10.1

 

AMENDMENT TO JUDGMENT SETTLEMENT AGREEMENT

 

This
Amendment to Judgment Settlement Agreement (this “Amendment”) is entered into as of February 5, 2019
(the “Effective Date”), by and between John M. Fife, an individual (“Lender”), and MPhase
Technologies, Inc., a New Jersey corporation (“Borrower”). Capitalized terms used in this Amendment without
definition shall have the meanings given to them in the Settlement Agreement (as defined below).

 

A.               
Borrower previously sold and issued to St. George Investments LLC, a Utah limited liability company (formerly known as St
George Investments LLC, an Illinois limited liability company) (“SGI”), that certain Convertible Note dated
September 13, 2011 in the original principal amount of $357,500.00 (subject to an increase to up to $557,500 upon the occurrence
of certain events) (the “Note”) pursuant to that certain Securities Purchase Agreement dated September 13, 2011
by and between SGI and Borrower (the “Purchase Agreement,” and together with the Note and all other documents
entered into in conjunction therewith, the “Transaction Documents”).

B.                
Effective as of October 17, 2011, SGI assigned the Note and its rights under all other Transaction Documents to Lender pursuant
to a certain Assignment of Convertible Note (the “Assignment”).

C.                
Following the Assignment, Lender and Borrower entered into a certain Standstill and Restructuring Agreement (the “Standstill
Agreement”) pursuant to which Lender agreed to not convert a certain portion of the outstanding balance of the Note into
shares of Borrower’s Common Stock in exchange for certain payments from Borrower.

D.               
Borrower did not make such payments and Lender ultimately filed a lawsuit against Borrower in the Eastern Division of the
Northern District of Illinois in the United States District Court, Case No. 12-cv-9647 (the “Lawsuit”).

E.                
 On December 15, 2014, Lender was granted summary judgment in the Lawsuit and on January 28, 2015 a judgment was entered
against Borrower (the “Judgment”).

F.                 
 Lender agreed to refrain and temporarily forbear from exercising and enforcing certain remedies against Borrower with respect
to the Judgment and to settle the Judgment pursuant to the terms and conditions of a certain Judgment Settlement Agreement dated
December 10, 2018 entered into between Lender and Borrower (as amended, the “Settlement Agreement”).

G.               
Borrower has requested that Lender alter the terms of the payment schedule set forth in the Settlement Agreement (the “Revised
Payment Schedule”).

H.               
Lender has agreed, subject to the terms, amendments, conditions and understandings expressed in this Amendment, to amend
the Settlement Agreement to reflect the Revised Payment Schedule.

NOW, THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

1.       Recitals.
Each of the parties hereto acknowledges and agrees that the recitals set forth above in this Amendment are true and accurate and
are hereby incorporated into and made a part of this Amendment.

 

    

     

    

 

2.       Revised
Payment Schedule. Section 3 of the Settlement Agreement is deleted in its entirety and replaced with the following:

 

“Settlement Payments.
Borrower and Lender agree that Borrower may satisfy the Judgment in full by making cash payments (the aggregate of the cash payments
payable to Lender under this Section 3 that are necessary to satisfy the Judgment, the “Settlement Amount”)
to Lender in an amount equal to either (a) $270,000.00, provided such amount is received by Lender on or before February 15, 2019,
or (b) (i) $375,000.00, which amount, if Borrower elects this option, shall be payable as follows: (1) Borrower shall make a payment
to Lender in the amount of $15,000.00 on or before February 15, 2019, and (2) Borrower shall continue making payments of $15,000.00
each month (each, an “Installment Payment”), with the first such Installment Payment being due and payable on
March 15, 2019 and with each additional Installment Payment being due and payable to Lender on or before the same day of each month
thereafter until February 15, 2020, when Borrower shall pay to Lender the entire unpaid portion of the Settlement Amount (which
would be equal to $195,000.00 if Borrower elects this option and pays each required Installment Payment prior to such date). Each
payment made pursuant to this Section 3 shall be made by Borrower to Lender via wire transfer of immediately available funds.”

 

3.       Representations
and Warranties. In order to induce Lender to enter into this Amendment, Borrower, for itself, and for its affiliates, successors
and assigns, hereby acknowledges, represents, warrants and agrees as follows:

 

(a)Borrower has
full power and authority to enter into this Amendment and to incur and perform all obligations and covenants contained herein,
all of which have been duly authorized by all proper and necessary action. No consent, approval, filing or registration with or
notice to any governmental authority is required as a condition to the validity of this Amendment or the performance of any of
the obligations of Borrower hereunder.

 

(b)There is no
fact known to Borrower or which should be known to Borrower which Borrower has not disclosed to Lender on or prior to the Effective
Date which would or could materially and adversely affect the understanding of Lender expressed in this Amendment or any representation,
warranty, or recital contained in this Amendment.

 

(c)Except as expressly
set forth in this Amendment, Borrower acknowledges and agrees that neither the execution and delivery of this Amendment nor any
of the terms, provisions, covenants, or agreements contained in this Amendment shall in any manner release, impair, lessen, modify,
waive, or otherwise affect the liability and obligations of Borrower under the terms of the Settlement Agreement.

 

(d)Borrower has
no defenses, affirmative or otherwise, rights of setoff, rights of recoupment, claims, counterclaims, actions or causes of action
of any kind or nature whatsoever against Lender, directly or indirectly, arising out of, based upon, or in any manner connected
with, the transactions contemplated hereby, whether known or unknown, which occurred, existed, was taken, permitted, or begun prior
to the execution of this Amendment and occurred, existed, was taken, permitted or begun in accordance with, pursuant to, or by
virtue of any of the terms or conditions of the Settlement Agreement. To the extent any such defenses, affirmative or otherwise,
rights of setoff, rights of recoupment, claims, counterclaims, actions or causes of action exist or existed, such defenses, rights,
claims, counterclaims, actions and causes of action are hereby waived, discharged and released. Borrower hereby acknowledges and
agrees that the execution of this Amendment by Lender shall not constitute an acknowledgment of or admission by Lender of the existence
of any claims or of liability for any matter or precedent upon which any claim or liability may be asserted.

    2 

     

    

 

(e)Borrower represents
and warrants that as of the Effective Date, no breaches exist under the Settlement Agreement or have occurred prior to the Effective
Date.

 

4.       Certain
Acknowledgments. Each of the parties acknowledges and agrees that no property or cash consideration of any kind whatsoever
has been or shall be given by Lender to Borrower in connection with any amendment to the Settlement Agreement granted herein.

 

5.       Other
Terms Unchanged. The Settlement Agreement, as amended by this Amendment, remains and continues in full force and effect, constitutes
legal, valid, and binding obligations of each of the parties thereto, and is in all respects agreed to, ratified, and confirmed.
Any reference to the Settlement Agreement after the Effective Date is deemed to be a reference to the Settlement Agreement as amended
by this Amendment. If there is a conflict between the terms of this Amendment and the Settlement Agreement, the terms of this Amendment
shall control. No forbearance or waiver may be implied by this Amendment. Except as expressly set forth herein, the execution,
delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment to, any right, power, or remedy
of Lender under the Settlement Agreement, as in effect prior to the Effective Date. To avoid all doubt, this Amendment shall be
governed by the miscellaneous provisions set forth in Sections 8 through 18 of the Settlement Agreement.

 

6.       No
Reliance. Borrower acknowledges and agrees that neither Lender nor any of its officers, directors, members, managers, equity
holders, representatives or agents has made any representations or warranties to Borrower or any of its agents, representatives,
officers, directors, or employees except as expressly set forth in this Amendment, the Settlement Agreement and the Transaction
Documents and, in making its decision to enter into the transactions contemplated by this Amendment and the Settlement Agreement,
Borrower is not relying on any representation, warranty, covenant or promise of Lender or its officers, directors, members, managers,
equity holders, agents or representatives other than as set forth in this Amendment and in the Settlement Agreement.

 

7.       Counterparts.
This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together
shall constitute one instrument. The parties hereto confirm that any electronic copy of another party’s executed counterpart
of this Amendment (or such party’s signature page thereof) will be deemed to be an executed original thereof.

 

8.       Further
Assurances. Each party shall do and perform or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Amendment and the consummation of the transactions contemplated
hereby.

 

[Remainder of page intentionally left blank]

    3 

     

    

 

IN WITNESS WHEREOF, the undersigned have executed
this Amendment as of the Effective Date.

 

	 	BORROWER:
	 	 
	 	MPHASE TECHNOLOGIES, INC.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	LENDER:
	 	 
	 	 
	 	 John M. Fife, an individual

 

 

 

 

    4 

 

[Signature page to Amendment to Judgment
Settlement Agreement]

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