Document:

EX-10.2

 Exhibit 10.2 
  

 
 Driven by science. Focused on life. 

Via Email Delivery 
 May 13, 2015 

Mr. Andrew Powell 
 <REDACTED> 

Dear Andrew 
 It is my great pleasure to offer you the position
of General Counsel, Corporate Secretary reporting to me. We are very excited about the possibility of you joining our team, and we look forward to the prospect of working with you in our innovative company! 

The following outlines the terms of our offer: 
 Your annualized
base salary will be $450,000 payable on the 15th and last day of each month. 
 Employees who join the
Company between January 1 and September 30th will be eligible for a prorated bonus for their first year of employment. Bonuses are generally paid in the first quarter, following year
that the bonus was earned. As such, you will be eligible for the 2015 corporate bonus paid out in the first quarter of 2016. The target bonus opportunity for your position is 60% of your base salary. The actual payout can range from 0% to 250% of
this target, based on individual and company performance. The Board of Directors makes an assessment of company achievement against goals for purposes of annual bonus payouts annually, generally in the first quarter of the following year. You will
be a participant in the Medivation 162M Bonus Program for Section 16 Officers as adopted by the Board of Directors. 
 We will recommend to
Medivation’s Board of Directors that you be granted an option to purchase 20,430 shares of Medivation common stock and 10,215 restricted stock units (RSUs). Upon vesting, each RSU will entitle you to receive one share of Medivation common
stock. 
 Your options will have an exercise price equal to the fair market value of the shares, on the date the option is granted (as determined in
accordance with Medivation’s Stock Option Grant Date Policy). The terms of your options will be governed in all respects by the terms of our 2004 Equity Incentive Award Plan and the stock option agreements. Your options will vest over a
four-year period – 25% at the end of the first year, then 1/48th monthly thereafter over the ensuing three years. Your RSUs will vest over a three year period – one third on each of
approximately the first, second and third anniversaries of the grant date. In the event there is a change of control of Medivation, your options would fully vest and become exercisable, and your RSUs would fully vest, automatically upon the
occurrence of that event. 
 525 Market Street, 36th Floor  San Francisco, CA 94105 (415) 543-3470  Fax
(415) 543-3411 www.medivation.com 

 Your options and RSUs will be submitted for approval following your start date of employment. A stock option
agreement will be provided to you, after the Board of Directors has approved your grant. In addition, you may be eligible for future annual equity grants under the Plan based on the level of your position and your performance. Annual grants are
typically made in the first quarter, of the year following a performance evaluation. Employees must be on board by September 30th, in order to be eligible for an annual grant. 

As an employee of Medivation, Inc., (the Company) you will be eligible to participate in our benefits programs. These include health, dental, vision, basic
life and basic personal accident insurance. Details of these and other benefits will be provided during the new hire orientation. All Medivation Inc., benefits are re-evaluated on an annual basis and are subject to change. 

Subject to timely completion of your job responsibilities, paid time off (PTO) may be utilized at your discretion. 

The Company offers a 401(k) plan with an employer match that provides you with the opportunity for pre- or post-tax, long-term savings. You may contribute up
to the federal maximum, which is currently $18,000. 
 In addition, the Company offers an Employee Stock Purchase Plan (ESPP) - ESPP is a voluntary benefit
that allows eligible employees to purchase shares of Medivation common stock at a discount through after tax payroll deductions. Eligible employees must enroll during the designated enrollment period. Additional information including a Prospectus
and online enrollment instructions will be provided after your date of employment. 
 As a result of the 1986 Immigration Reform and Control Act, we are
required to verify the identity and work authorization of all new employees. You will therefore be required to sign the Employment Eligibility Verification (Form I-9). We will need to examine original documents that satisfy these verification
requirements, within 24 hours of your employment start date. This offer of employment is contingent upon your providing the necessary documentation within that period. 

You will abide by the Company’s strict policy that prohibits any new employee from using or bringing with him/her all prior employers’ proprietary
information, trade secrets, proprietary materials, and/or processes. Upon starting employment with Medivation Inc., you will be required to sign an Employee Confidentiality and Invention Assignment Agreement indicating, among other things, your
agreement with this policy. 
 By signing below you are indicating your understanding that should you accept a position at Medivation Inc., the employment
relationship is based on the mutual consent of the employee and the Company. Accordingly, either you or the Company can terminate the employment relationship at will, at any time, with or without cause or advance notice. 

This offer of employment is effective for three (3) business days from the date of this letter and is contingent upon satisfactory completion of
background and reference checks. If all of 

 
the foregoing is satisfactory, please sign, date, and return this letter, within three (3) business days. Please label the envelope attention Sandy Cooper, Human Resources and mail it to
Medivation, 525 Market Street 36th Floor, San Francisco, CA 94105. If you prefer, you may scan and email your signed offer letter to sandy.cooper@medivation.com 

Andrew, we are enthusiastic about welcoming you to the Company and look forward to you joining our team. 

 

	
	Sincerely,
	
	/s/ David Hung
	David Hung, MD
	President and Chief Executive Officer

 I accept employment with the Company on the foregoing terms. 

 

			
	 /s/ Andrew Powell

	Andrew Powell
		
	 5/26/15
	  	 5/27/15

	Date Signed	  	Anticipated Start DateFRM - EX10.2 - 2015.06.30 - Q2

EXHIBIT 10.2
	
													
	
	 
	 
	GRANTED
	 

	 
	 

	 
	IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	NORFOLK COUNTY RETIREMENT
	 
	 
	 
	 

	 
	SYSTEM, on behalf of itself and all
	 
	 
	 
	 

	 
	other similarly situated stockholders of
	 
	 
	 
	 

	 
	FURMANITE CORPORATION,
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	Plaintiff,
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	C.A. No. 10727-VCG
	 

	 
	 
	 
	 
	v.
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	SANGWOO AHN, KATHLEEN
	 
	 
	 
	 

	 
	COCHRAN, KEVIN R. JOST, JOE
	 
	 
	 
	 

	 
	MILLIRON AND RALPH PATITUCCI,
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	Defendants,
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	and
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	FURMANITE CORPORATION,
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	Nominal Defendant.
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

STIPULATION AND [PROPOSED] ORDER REGARDING NOTICE OF 
PAYMENT OF ATTORNEYS’ FEES AND EXPENSES AND DISMISSAL
OF THE ABOVE-CAPTIONED ACTION
WHEREAS, on February 7, 2015, plaintiff Norfolk County Retirement System (“Plaintiff”) filed the above-captioned action (the “Action”) seeking, inter alia, a Court order requiring the board of directors (the “Board”) of Furmanite Corporation (“Furmanite” or the “Company”) to amend, repeal, or redeem the “dead hand” provision in the Company’s stockholder rights plan (the “Rights 

Plan”) before the Company’s 2015 annual meeting (the “2015 Annual Meeting”) (TRANSACTION ID 56837834);
WHEREAS, on March 9, 2015, Furmanite filed a Form 8-K with the U.S. Securities and Exchange Commission (“SEC”) disclosing that on March 4, 2015, the Board amended the Rights Plan such that it expired on March 6, 2015 (the “Amendment”), i.e., prior to the Annual Meeting, thereby mooting the Action; 
WHEREAS, on March 19, 2015, the Court dismissed the Action but retained jurisdiction solely for the purpose of determining Plaintiff’s counsel’s application for an award of attorneys’ fees and reimbursement of expenses (the “Dismissal”) (Transaction ID 56943325); 
WHEREAS, at the time the Court ordered the Dismissal, no attorneys’ fees were promised to Plaintiff’s counsel, and there was no promise that any attorneys’ fees at all would be agreed to by defendants; 
WHEREAS, subsequent to the Dismissal, the parties engaged in negotiations regarding the payment of attorneys’ fees to Plaintiff’s counsel; 
WHEREAS, Furmanite has agreed to pay Plaintiff’s counsel a fee of $300,000; 
WHEREAS, the Court has not passed on the amount of the fee; 
WHEREAS, the parties now seek an order from the Court closing the Action;

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IT IS HEREBY STIPULATED AND AGREED, subject to the approval of the Court, that: 
1.    Furmanite shall, upon entry of this Stipulation and Order (the “Order”), file the Order as an attachment to the Company’s Form 10-Q for the quarter ended June 30, 2015, which Furmanite anticipates filing with the SEC on or before August 10, 2015. The filing of this Order constitutes adequate notice for purposes of Rule 23(e) (the “Notice”); 
2.    The Company shall file with the Court an affidavit that the Notice has been made (the “Affidavit”) in accordance with paragraph 1 above no later than three calendar days after the Notice is publicly filed; 
3.    Upon the filing of the Affidavit, 
		
	a.
	The Court will no longer retain jurisdiction over the Action;

		
	b.
	Under Court of Chancery Rule 54, the Dismissal will be final; and

		
	c.
	The Action will be closed for all purposes. 

4.    Furmanite shall pay Plaintiff’s counsel fees in the amount of $300,000 within seven business days of the date of the entry of the Order to an account designated by Plaintiff’s counsel. 

3

	
										
	Dated: June 5, 2015
	 
	LABATON SUCHAROW LLP
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	By
	/s/ Ned Weinberger
	 

	 
	 
	 
	 
	 
	 
	Christine S. Azar (#4170)
	 

	Of Counsel:
	 
	 
	Ned Weinberger (#5256)
	 

	 
	 
	 
	 
	 
	 
	300 Delaware Ave., Suite 1340
	 

	Jeremy Friedman
	 
	 
	Wilmington, DE  19801
	 

	Spencer Oster
	 
	 
	(302) 573-2540
	 

	FRIEDMAN OSTER PLLC
	 
	 
	 
	 
	 
	 

	240 East 79th Street, Suite A
	 
	Counsel for Plaintiff Norfolk County
	 

	New York, NY  10075
	 
	Retirement System
	 

	(888) 529-1108
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	ROSS ARONSTAM & MORITZ LLP
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	By
	/s/ Garrett B. Moritz
	 

	 
	 
	 
	 
	 
	 
	Garrett B. Moritz (#5646)
	 

	Of Counsel:
	 
	 
	100 S. West Street, Suite 400
	 

	 
	 
	 
	 
	 
	 
	Wilmington, Delaware 19801
	 

	William Savitt
	 
	 
	(302) 576-1600
	 

	WACHTELL, LIPTON,
	 
	 
	 
	 
	 
	 

	ROSEN & KATZ
	 
	Counsel for Defendants Furmanite
	 

	51 West 52nd Street
	 
	Corporation, Sangwoo Ahn, Kathleen
	 

	New York, NY 10019
	 
	Cochran, Kevin R. Jost, Joe Milliron,
	 

	(212) 403-1000
	 
	and Ralph Patitucci
	 

	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	SO ORDERED this ______ day of _____, 2015.
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	Vice Chancellor
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

4

	
							
	 	This document constitutes a ruling of the court and should be treated as such.

	 	 
	 
	 
	 
	 
	 

	 	Court:
	 
	DE Court of Chancery Civil Action

	 	 
	 
	 
	 
	 
	 

	 	Judge:
	 
	Sam Glasscock

	 	 
	 
	 
	 
	 
	 

	 	File & Serve Transaction ID:
	 
	57342154

	 	 
	 
	 
	 
	 
	 

	 	Current Date:
	 
	Jul 06, 2015

	 	 
	 
	 
	 
	 
	 

	 	Case Number:
	 
	10727-VCG

	 	 
	 
	 
	 
	 
	 

	 	Case Name:
	 
	Norfolk County Retirement System vs Sangwoo Ahn & Furmanite Corp et al

	 	 
	 
	 
	 
	 
	 

	 	Court Authorizer:
	 
	Glasscock, Sam

	 	 
	 
	 
	 
	 
	 

	 	 
	 
	 
	 
	 
	 

	 	/s/ Judge Glasscock, Sam

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