Document:

Exhibit 10.1

 

	
  No. of shares
  subject to option:
  «Shares»

  	
   

  	
  Option No: «GrantNo»

  

 

CELLDEX
THERAPEUTICS, INC.

 

INCENTIVE
STOCK OPTION AGREEMENT

 

THIS AGREEMENT dated as
of the «OptDate» (the “Effective
Date”), between CELLDEX THERAPEUTICS, INC., a Delaware corporation (the “Company”),
and «FirstName» «LastName» (the “Optionee”).

 

W I T N E
S S E T H:

 

1.             Grant of Option.  Pursuant to
the provisions of the Celldex Therapeutics, Inc. 2008 Stock Option and
Incentive Plan (the “Plan”), the Company hereby grants to Optionee, subject to
the terms and conditions herein set forth, the right and option (the “Option”)
to purchase from the Company all or any part of an aggregate of «Shares» shares of Common Stock, $.001 par
value (“Common Stock”), of the Company at the purchase price of «OptPrice» per share.

 

2.             Terms and Conditions.  It is
understood and agreed that the Option is subject to the following terms and
conditions:

 

(a)           Option Expiration Date. 
The Option shall expire ten years after the Effective Date (such date
being herein referred to as the “Expiration Date”) except as otherwise provided
in paragraph (d) of this Section 2.

 

(b)           Vesting of Option.  Except as
otherwise provided in this Agreement, Optionee may purchase from the Company
pursuant to the Option, as follows:

 

25%
of the shares subject to the Option at any time after the first anniversary of
the Effective Date;

 

An additional
6.25% of the shares subject to the Option will vest each subsequent quarter
following the first anniversary of the Effective Date;

 

Vesting of the
Option granted under this Agreement shall terminate as of the date on which the
Optionee’s employment with the Company terminates, which for purposes of this
Agreement includes employment by a designated affiliate of the Company.

 

(c)           Exercise of Option; Payment of Purchase
Price; Tax Withholding.

 

(i)            The Option shall be exercised by Optionee by notice to
the Company stating the number of shares with respect to which the Option is
being exercised.

 

(ii)           At the time of any exercise, the purchase price of the
shares as to which the Option shall be exercised shall be paid to the Company
in U.S. Dollars in cash or 

 

 

by check; by
delivery of whole shares of common stock of the Company (“Optionee Stock”)
which have been owned by the Optionee free of any substantial restriction for
at least six (6) months, valued at their fair market value, as determined
under Section 5(d)(ii) of the Plan, as of the first business day
preceding the notice of election equal to the purchase price; by delivering a
properly executed exercise notice in a form approved by the Administrator
together with irrevocable instructions to a broker to promptly deliver to the
Corporation the amount of applicable sale or loan proceeds to pay such purchase
price; or by a combination of the foregoing. 
Any shares of Optionee Stock being delivered must be accompanied by a
duly executed assignment to the Company in blank or with stock power attached,
together with a written representation that such shares of Optionee Stock are
owned by the Optionee free and clear of all liens, claims and encumbrances and
such other representations as the Company shall determine.

 

(iii)          Upon any exercise of the Option, the Optionee shall
make appropriate arrangements to meet any withholding requirements of Federal,
state, local or foreign tax laws.

 

(d)           Exercise Upon Death, Disability or
Termination of Employment.

 

(i)            In the event of the death of Optionee while an
employee of the Company, the Option may be exercised, to the extent that
Optionee was entitled to do so at the date of his termination of employment, by
the person or persons to whom Optionee’s rights under the Option pass by will
or applicable law, or if no such person has such right, by his executors or
administrators, at any time, or from time to time, within one (1) year
after the date of Optionee’s death, but in no event later than the Expiration
Date.

 

(ii)           If Optionee’s employment with the Company shall
terminate because of permanent disability, Optionee may exercise the Option to
the extent that Optionee was entitled to do so at the date of termination of
employment, at any time, or from time to time, within one (1) year of the
date of termination of employment, but in no event later than the Expiration
Date.

 

(iii)          If Optionee’s employment with the Company is
terminated for “cause,” as determined by the Administrator, Optionee’s ability
to exercise the Option shall terminate on the date of termination of
employment.

 

(iv)          If Optionee’s employment with the Company shall
terminate for any reason other than death, permanent disability or “cause,” as
provided for above, Optionee may exercise the Option, to the extent that
Optionee could have done so at the date of termination of employment, at any
time, or from time to time, within three (3) months of the date of
termination of employment, but in no event later than the Expiration Date.

 

(e)           Nontransferability. 
The Option shall not be transferable other than by will or by the law of
descent and distribution.  During the
lifetime of Optionee, the Option shall be exercisable only by the Optionee.

 

(f)            Change of Control. 
In the event of a Change of Control, as defined in the Plan, the portion
of this 

 

5

 

Option which the
Optionee is not entitled to exercise shall be accelerated with the occurrence
of the Change of Control and the Optionee shall have the right to exercise such
portion of this Option, subject to the exceptions and terms provided in the
Plan.

 

(g)           No Rights as Stockholder. 
Optionee shall have no rights as a stockholder with respect to any
shares of Common Stock subject to the Option prior to the date of issuance of a
certificate or certificates for such shares.

 

(h)           No Right to Continued Employment. 
Neither the Option nor this Agreement shall confer upon Optionee any
right with respect to continuance of employment by the Company, nor shall it
interfere in any way with the right of the Company to terminate Optionee’s
employment at any time.

 

(i)            Compliance with Law and Regulations. 
The Option and the obligation of the Company to sell and deliver shares
hereunder shall be subject to all applicable federal and state laws, rules and
regulations and to such approvals by any government or regulatory agency as may
be required.  If at any time the
Administrator shall determine in its discretion that the listing, registration
or qualification of the shares covered by the Option upon any national
securities exchange or under any federal or state law, or the consent or
approval of any governmental regulatory body, is necessary or desirable as a
condition of, or in connection with, the sale or purchase of shares, no shares
will be delivered to Optionee unless and until such listing, registration,
qualification, consent or approval shall have been effected or obtained, or
otherwise provided for, free of any conditions not acceptable to the
Administrator.  If shares are not
required to be registered, but are exempt from registration, upon exercising
all or any portion of the Option, Optionee shall represent that the shares
being acquired are being acquired for investment only and not with a view to
their sale or distribution thereof, and shall make such other representations
as deemed appropriate by counsel to the Company.  Stock certificates evidencing unregistered
shares acquired upon exercise of the option shall be subject to stop transfer
instructions by the Company to the transfer agent for the shares and shall bear
any legend required by applicable state securities laws.

 

(j)            Definition. 
As used in this Agreement, “cause” means (i) dishonest statements
or acts of the Optionee with respect to the Company or any affiliate of the
Company; (ii) the commission by or indictment of the Optionee for (A) a
felony or (B) any misdemeanor involving moral turpitude, deceit,
dishonesty or fraud (indictment, for these purposes, meaning an indictment,
probable cause hearing or any other procedure pursuant to which an initial
determination of probable or reasonable cause with respect to such offense is
made); or (iii) gross negligence, willful misconduct or insubordination of
the Optionee with respect to the Company or any affiliate of the Company.

 

3.             Optionee Bound by Plan.  Optionee
hereby acknowledges that this Option is subject to all the terms and provisions
of the Plan.  Capitalized terms used in
this Agreement but not defined have the meanings set forth in the Plan.

 

4.             Status of Option.  The Option is
intended to qualify as an incentive stock option within the meaning of Section 422
of the Internal Revenue Code of 1986, as amended, but the Company does not
represent or warrant that the Option qualifies or will be treated as such.  Optionee acknowledges that stock options
granted to Optionee by the Company (including the Option) may not be treated as
incentive stock options to the extent that the aggregate fair market value of
stock with respect to which such options are first exercisable during any
calendar year exceeds 

 

6

 

$100,000
(determined as of the date or dates such options were granted).  Optionee should consult with his own tax
advisors regarding the tax effects of the Option and the requirements necessary
to obtain favorable income tax treatment under Section 422 of the Internal
Revenue Code, including, but not limited to, holding period requirements.

 

5.             Notices.  Any notice
hereunder to the Company shall be addressed to it at its office, 119 Fourth
Avenue, Needham, Massachusetts, 02494-2725; Attention: Controller, and any
notice hereunder to Optionee shall be addressed to Optionee at the address
below, subject to the right of either party to designate at any time hereafter
in writing some other address.

 

6.             Counterparts.  This Agreement
may be executed in two counterparts each of which shall constitute one and the
same instrument.

 

7

 

IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be executed as of the day set forth above.

 

 

	
   

  	
   

  	
  CELLDEX
  THERAPEUTICS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
  «FirstName» «LastName»

  	
   

  	
   

  
	
  Address:

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
					

 

8Exhibit 10.3

 

AMENDMENT NO. 2

TO

LIMITED LIABILITY COMPANY AGREEMENT OF

EUREKA MOLY, LLC

 

This Amendment No. 2 (this “Amendment”),
dated as of January 20, 2010, to the Amended and Restated Limited
Liability Company Agreement of Eureka Moly, LLC, dated as of February 26,
2008 (as amended by Amendment No. 1 to Limited Liability Company Agreement
of Eureka Moly, LLC, dated as of October 28, 2008, the “LLC Agreement”),
is between Nevada Moly, LLC, a Delaware
limited liability company (“Nevada Moly”), and POS-Minerals
Corporation, a Delaware corporation (“POS-Minerals”).  Capitalized terms used herein and not
otherwise defined herein have the respective meanings set forth in the LLC
Agreement.

 

Agreement

 

In consideration of the covenants and
agreements contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Nevada Moly and
POS-Minerals agree as follows:

 

1.             Amendment to Section 4.1(c).  Section 4.1(c) of the LLC Agreement
hereby is amended by replacing “January 31, 2010” with “May 1, 2010”
in the second sentence of such section.

 

2.             Continuing Effect.  Except as amended hereby, the LLC Agreement
shall remain in full force and effect.

 

3.             Incorporation By Reference.  Section 1.2 and Article XVI of the
LLC Agreement hereby are incorporated, mutatis mutandis,
by reference into this Amendment.

 

[Signatures on Next Page]

 

 

The
parties hereto have executed this Amendment to be effective as of the date
first set forth above.

 

	
   

  	
  MEMBERS:

  
	
   

  	
   

  
	
   

  	
  NEVADA
  MOLY, LLC,

  
	
   

  	
  a
  Delaware limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Bruce D. Hansen

  
	
   

  	
   

  	
  Bruce D. Hansen,

  
	
   

  	
   

  	
  Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  POS-MINERALS
  CORPORATION,

  
	
   

  	
  a
  Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ YK Kim

  
	
   

  	
   

  	
  YK Kim, President

  

 

SIGNATURE
PAGE TO AMENDMENT NO. 2 TO LLC AGREEMENT OF EUREKA MOLY,  LLC

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