Document:

Redback Networks Inc. 1999 Employee Stock Purchase Plan, as amended and restated

 Exhibit 10.2 
  
  
 REDBACK
NETWORKS INC. 
  
 1999
EMPLOYEE STOCK PURCHASE PLAN 
  
 (AS AMENDED AND RESTATED AS OF MAY 1, 2005) 

 TABLE OF CONTENTS 
  

			
	 	  	Page

	 
SECTION 1. PURPOSE OF THE PLAN
	  	1
		
	 
SECTION 2. ADMINISTRATION OF THE PLAN
	  	1
	 
(a) Committee Composition
	  	1
	 
(b) Committee Responsibilities
	  	1
		
	 
SECTION 3. ENROLLMENT AND PARTICIPATION
	  	1
	 
(a) Offering Periods
	  	1
	 
(b) Accumulation Periods
	  	1
	 
(c) Enrollment
	  	1
	 
(d) Duration of Participation
	  	1
	 
(e) Applicable Offering Period
	  	1
		
	 
SECTION 4. EMPLOYEE CONTRIBUTIONS
	  	2
	 
(a) Frequency of Payroll Deductions
	  	2
	 
(b) Amount of Payroll Deductions
	  	2
	 
(c) Changing Withholding Rate
	  	2
		
	 
SECTION 5. WITHDRAWAL FROM THE PLAN
	  	2
	 
(a) Withdrawal
	  	2
	 
(b) Re-Enrollment After Withdrawal
	  	2
		
	 
SECTION 6. CHANGE IN EMPLOYMENT STATUS
	  	2
	 
(a) Termination of Employment
	  	2
	 
(b) Leave of Absence
	  	3
	 
(c) Death
	  	3
		
	 
SECTION 7. PLAN ACCOUNTS AND PURCHASE OF SHARES
	  	3
	 
(a) Plan Accounts
	  	3
	 
(b) Purchase Price
	  	3
	 
(c) Number of Shares Purchased
	  	3
	 
(d) Available Shares Insufficient
	  	3
	 
(e) Issuance of Stock
	  	3
	 
(f) Unused Cash Balances
	  	4
	 
(g) Withholding Taxes
	  	4
	 
(h) Stockholder Approval
	  	4
		
	 
SECTION 8. LIMITATIONS ON STOCK OWNERSHIP
	  	4
	 
(a) Five Percent Limit
	  	4
	 
(b) Dollar Limit
	  	4
		
	 
SECTION 9. RIGHTS NOT TRANSFERABLE
	  	5
		
	 
SECTION 10. NO RIGHTS AS AN EMPLOYEE
	  	5
		
	 
SECTION 11. NO RIGHTS AS A STOCKHOLDER
	  	5
		
	 
SECTION 12. SECURITIES LAW REQUIREMENTS.
	  	5
		
	 
SECTION 13. STOCK OFFERED UNDER THE PLAN
	  	5
	 
(a) Authorized Shares
	  	5
	 
(b) Anti-Dilution Adjustments
	  	5
	 
(c) Reorganizations
	  	5

  

 i 

			
	 	  	Page

		
	 
SECTION 14. AMENDMENT OR DISCONTINUANCE
	  	6
		
	 
SECTION 15. DEFINITIONS
	  	6
	 
(a) Accumulation Period
	  	6
	 
(b) Board
	  	6
	 
(c) Code
	  	6
	 
(d) Committee
	  	6
	 
(e) Company
	  	6
	 
(f) Compensation
	  	6
	 
(g) Corporate Reorganization
	  	6
	 
(h) Eligible Employee
	  	6
	 
(i) Exchange Act
	  	6
	 
(j) Fair Market Value
	  	7
	 
(k) IPO
	  	7
	 
(l) Offering Period
	  	7
	 
(m) Participant
	  	7
	 
(n) Participating Company
	  	7
	 
(o) Plan
	  	7
	 
(p) Plan Account
	  	7
	 
(q) Purchase Price
	  	7
	 
(r) Stock
	  	7
	 
(s) Subsidiary
	  	7
		
	 
SECTION 16. EXECUTION
	  	7

  

 ii 

 REDBACK NETWORKS INC. 
 1999 EMPLOYEE STOCK PURCHASE PLAN 
  
 
SECTION 1. PURPOSE OF THE PLAN. 
  
 The Plan was adopted by the Board effective as of the date of the IPO. The purpose of the Plan is to provide Eligible Employees with an opportunity to increase their proprietary interest in the success of the Company by purchasing Stock
from the Company on favorable terms and to pay for such purchases through payroll deductions. The Plan is intended to qualify under section 423 of the Code. 
  
 
SECTION 2. ADMINISTRATION OF THE PLAN. 
  
 
(a) Committee Composition.    The Plan shall be administered by the Committee. The Committee shall consist exclusively of one or more directors of the Company, who shall be appointed by the
Board. 
  
 
(b) Committee Responsibilities.    The Committee shall interpret the Plan and make all other policy decisions relating to the operation of the Plan. The Committee may adopt such rules,
guidelines and forms as it deems appropriate to implement the Plan. The Committee’s determinations under the Plan shall be final and binding on all persons. 
  
 
SECTION 3. ENROLLMENT AND PARTICIPATION. 
  
 
(a) Offering Periods.    Unless otherwise terminated hereunder, Offering Periods in effect prior to May 1, 2005 consisting of 24-month periods shall continue until October 31, 2005. On October
31, 2005, all such 24-month Offering Periods shall terminate. For Offering Periods commencing on and after May 1, 2005, the Plan shall be implemented by consecutive six-month Offering Periods commencing on each May 1st and November 1st. 
  
 
(b) Accumulation Periods.    For Offering Periods in effect prior to May 1, 2005, two Accumulation Periods shall commence in each calendar year. The Accumulation Periods shall consist of the
six-month periods commencing on each May 1 and November 1, except that the first Accumulation Period shall commence on the date of the IPO and end on October 31, 1999. For Offering Periods commencing on and after May 1, 2005, the term
“Accumulation Period” shall have the same meaning as “Offering Period.” 
  
 
(c) Enrollment.    Any individual who, on the day preceding the first day of an Offering Period, qualifies as an Eligible Employee may elect to become a Participant in the Plan for such Offering
Period by executing the enrollment form prescribed for this purpose by the Committee. The enrollment form shall be filed with the Company at the prescribed location not later than five business days prior to the commencement of such Offering Period.

  
 
(d) Duration of Participation.    Once enrolled in the Plan, a Participant shall continue to participate in the Plan until he or she ceases to be an Eligible Employee, withdraws from the Plan
under Section 5(a) or reaches the end of the Accumulation Period in which his or her employee contributions were discontinued under Section 8(b). A Participant who withdrew from the Plan under Section 5(a) may again become a Participant, if he
or she then is an Eligible Employee, by following the procedure described in Subsection (c) above. A Participant whose employee contributions were discontinued automatically under Section 8(b) shall automatically resume participation at the
beginning of the earliest Accumulation Period ending in the next calendar year, if he or she then is an Eligible Employee. 
  
 
(e) Applicable Offering Period.    For purposes of calculating the Purchase Price under Section 7(b), the applicable Offering Period shall be determined as follows: 
  
 (i) Once a Participant is enrolled in the Plan for an
Offering Period, such Offering Period shall continue to apply to him or her until the earliest of (A) the end of such Offering Period, (B) the end of his or her 

  

 1 

 
participation under Subsection (d) above or (C) re-enrollment for a subsequent Offering Period under Paragraph (ii) or (iii) below. 
  
 (ii) In the event that the Fair Market Value of Stock on the
last trading day before the commencement of the Offering Period for which the Participant is enrolled is higher than on the last trading day before the commencement of any subsequent Offering Period, the Participant shall automatically be
re-enrolled for such subsequent Offering Period. 
  
 (iii) Any other provision of the Plan notwithstanding, the Company (at its sole discretion) may determine prior to the commencement of any new Offering Period that all Participants shall be re-enrolled for such new Offering Period.

  
 (iv) When a Participant reaches the end of an
Offering Period but his or her participation is to continue, then such Participant shall automatically be re-enrolled for the Offering Period that commences immediately after the end of the prior Offering Period. 
  
 
SECTION 4. EMPLOYEE CONTRIBUTIONS. 
  
 
(a) Frequency of Payroll Deductions.    A Participant may purchase shares of Stock under the Plan solely by means of payroll deductions. Payroll deductions, as designated by the Participant
pursuant to Subsection (b) below, shall occur on each payday during participation in the Plan. 
  
 
(b) Amount of Payroll Deductions.    An Eligible Employee shall designate on the enrollment form the portion of his or her Compensation that he or she elects to have withheld for the purchase
of Stock. Such portion shall be a whole percentage of the Eligible Employee’s Compensation, but not less than 1% nor more than 15%. 
  
 
(c) Changing Withholding Rate.    A Participant may not change the rate of payroll withholding set forth on the enrollment form during the term of an Offering Period. A Participant may modify
such withholding rate to become effective upon the commencement of a subsequent Offering Period. 
  
 
SECTION 5. WITHDRAWAL FROM THE PLAN. 
  
 
(a) Withdrawal.    A Participant may elect to withdraw from the Plan by filing the prescribed form with the Company at the prescribed location at any time before the last day of an Accumulation
Period. As soon as reasonably practicable thereafter, payroll deductions shall cease and the entire amount credited to the Participant’s Plan Account shall be refunded to him or her in cash, without interest. No partial withdrawals shall be
permitted. 
  
 
(b) Re-Enrollment After Withdrawal.    A former Participant who has withdrawn from the Plan shall not be a Participant until he or she re-enrolls in the Plan under Section 3(c). Re-enrollment
may be effective only at the commencement of an Offering Period. 
  
 
SECTION 6. CHANGE IN EMPLOYMENT STATUS. 
  
 
(a) Termination of Employment.    Termination of employment as an Eligible Employee for any reason, including death, shall be treated as an automatic withdrawal from the Plan under Section
5(a). (A transfer from one Participating Company to another shall not be treated as a termination of employment.) 
  

 2 

 
(b) Leave of Absence.    For purposes of the Plan, employment shall not be deemed to terminate when the Participant goes on a military leave, a sick leave or another bona fide leave of
absence, if the leave was approved by the Company in writing. Employment, however, shall be deemed to terminate 90 days after the Participant goes on a leave, unless a contract or statute guarantees his or her right to return to work. Employment
shall be deemed to terminate in any event when the approved leave ends, unless the Participant immediately returns to work. 
  
 
(c) Death.    In the event of the Participant’s death, the election of the beneficiary designated by him or her for this purpose on the prescribed form may elect to have the amount
credited to the Participant’s Plan Account used to purchase shares at the end of the Accumulation Period based on the amount credited to the employee’s Plan Account prior to the employee’s death or to withdraw from the Plan, in which
case the amount credited to his or her Plan Account shall be paid to the beneficiary. If no beneficiary is designated by him or her the amount will be paid to the Participant’s estate. Such form shall be valid only if it was filed with the
Company at the prescribed location before the Participant’s death. 
  
 
SECTION 7. PLAN ACCOUNTS AND PURCHASE OF SHARES. 
  
 
(a) Plan Accounts.    The Company shall maintain a Plan Account on its books in the name of each Participant. Whenever an amount is deducted from the Participant’s Compensation under the
Plan, such amount shall be credited to the Participant’s Plan Account. Amounts credited to Plan Accounts shall not be trust funds and may be commingled with the Company’s general assets and applied to general corporate purposes. No
interest shall be credited to Plan Accounts. 
  
 
(b) Purchase Price.    The Purchase Price for each share of Stock purchased at the close of an Accumulation Period shall be the lower of: 
  
 (i) 85% of the Fair Market Value of such share on the last
trading day in such Accumulation Period; or 
  
 (ii) 85% of the Fair Market Value of such share on the last trading day before the commencement of the applicable Offering Period (as determined under Section 3(e)) or, in the case of the first Offering Period under the Plan, 85% of the
price at which one share of Stock is offered to the public in the IPO. 
  
 
(c) Number of Shares Purchased.    As of the last day of each Accumulation Period, each Participant shall be deemed to have elected to purchase the number of shares of Stock calculated in
accordance with this Subsection (c), unless the Participant has previously elected to withdraw from the Plan in accordance with Section 5(a). The amount then in the Participant’s Plan Account shall be divided by the Purchase Price, and the
number of shares that results shall be purchased from the Company with the funds in the Participant’s Plan Account. The foregoing notwithstanding, no Participant shall purchase more than 4,0001 shares of Stock with respect to any Accumulation Period nor more than the amounts of Stock set forth in Sections 8(b) and 13(a). The Committee may determine
with respect to all Participants that any fractional share, as calculated under this Subsection (c), shall be (i) rounded down to the next lower whole share or (ii) credited as a fractional share. 
  
 
(d) Available Shares Insufficient.    In the event that the aggregate number of shares that all Participants elect to purchase during an Accumulation Period exceeds the maximum number of shares
remaining available for issuance under Section 13(a), then the number of shares to which each Participant is entitled shall be determined by multiplying the number of shares available for issuance by a fraction, the numerator of which is the number
of shares that such Participant has elected to purchase and the denominator of which is the number of shares that all Participants have elected to purchase. 
  
 
(e) Issuance of Stock.    Certificates representing the shares of Stock purchased by a Participant under the Plan shall be issued to him or her as soon as reasonably practicable after the close
of the applicable 

	1	Reflects two-for-one stock split applicable to stockholders of record on August 5, 1999 and the two-for-one stock split applicable to stockholders of record on March
20, 2000. 

  

 3 

 
Accumulation Period, except that the Committee may determine that such shares shall be held for each Participant’s benefit by a broker designated by the
Committee (unless the Participant has elected that certificates be issued to him or her). Shares may be registered in the name of the Participant or jointly in the name of the Participant and his or her spouse as joint tenants with right of
survivorship or as community property. 
  
 
(f) Unused Cash Balances.    An amount remaining in the Participant’s Plan Account that represents the Purchase Price for any fractional share shall be carried over in the
Participant’s Plan Account to the next Accumulation Period. Any amount remaining in the Participant’s Plan Account that represents the Purchase Price for whole shares that could not be purchased by reason of Subsection (c) above, Section
8(b) or Section 13(a) shall be refunded to the Participant in cash, without interest. 
  
 
(g) Withholding Taxes.    As a condition to the purchase of Shares, the Participant shall make such arrangements as the Board of Directors may require for the satisfaction of any federal,
state, local or foreign withholding tax obligations that may arise in connection with such purchase. 
  
 
(h) Stockholder Approval.    Any other provision of the Plan notwithstanding, no shares of Stock shall be purchased under the Plan unless and until the Company’s stockholders have approved
the adoption of the Plan. 
  
 
SECTION 8. LIMITATIONS ON STOCK OWNERSHIP. 
  
 
(a) Five Percent Limit.    Any other provision of the Plan notwithstanding, no Participant shall be granted a right to purchase Stock under the Plan if such Participant, immediately after his
or her election to purchase such Stock, would own stock possessing more than 5% of the total combined voting power or value of all classes of stock of the Company or any parent or Subsidiary of the Company. For purposes of this Subsection (a), the
following rules shall apply: 
  
 (i) Ownership of
stock shall be determined after applying the attribution rules of section 424(d) of the Code; 
  
 (ii) Each Participant shall be deemed to own any stock that he or she has a right or option to purchase under this or any other plan; and

  
 (iii) Each Participant shall be deemed to
have the right to purchase not more than 4,000 shares of Stock under this Plan with respect to each Accumulation Period. 
  
 
(b) Dollar Limit.    Any other provision of the Plan notwithstanding, no Participant shall purchase Stock 
 with a Fair Market Value in excess of the following limit: 
  
 (i) In the case of Stock purchased during an Offering Period that commenced in the current calendar year, the limit shall be equal to (A)
$25,000 minus (B) the Fair Market Value of the Stock that the Participant previously purchased in the current calendar year (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company).

  
 (ii) In the case of Stock purchased during an
Offering Period that commenced in the immediately preceding calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Stock that the Participant previously purchased (under this Plan and all other employee stock
purchase plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the immediately preceding calendar year. 
  
 (iii) In the case of Stock purchased during an Offering Period that commenced in the second preceding calendar year, the limit shall be
equal to (A) $75,000 minus (B) the Fair Market Value of the Stock that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) in the current
calendar year and in the two preceding calendar years. 
  
 For purposes of this
Subsection (b), the Fair Market Value of Stock shall be determined in each case as of the beginning of the Offering Period in which such Stock is purchased. Employee stock purchase plans not described 

  

 4 

 
in section 423 of the Code shall be disregarded. If a Participant is precluded by this Subsection (b) from purchasing additional Stock under the Plan,
then his or her employee contributions shall automatically be discontinued and shall resume at the beginning of the earliest Accumulation Period ending in the next calendar year (if he or she then is an Eligible Employee). 
  
 
SECTION 9. RIGHTS NOT TRANSFERABLE. 
  
 The rights of any Participant under the Plan, or any Participant’s interest in any Stock or moneys to which he or she may be entitled under the Plan, shall not be transferable by voluntary or involuntary assignment or by operation of
law, or in any other manner other than by beneficiary designation or the laws of descent and distribution. If a Participant in any manner attempts to transfer, assign or otherwise encumber his or her rights or interest under the Plan, other than by
beneficiary designation or the laws of descent and distribution, then such act shall be treated as an election by the Participant to withdraw from the Plan under Section 5(a). 
  
 
SECTION 10. NO RIGHTS AS AN EMPLOYEE. 
  
 Nothing in the Plan or in any right granted under the Plan shall confer upon the Participant any right to continue in the employ of a Participating Company for any period of specific duration or interfere with or otherwise restrict in any
way the rights of the Participating Companies or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her employment at any time and for any reason, with or without cause. 
  
 
SECTION 11. NO RIGHTS AS A STOCKHOLDER. 
  
 A Participant shall have no rights as a stockholder with respect to any shares of Stock that he or she may have a right to purchase under the Plan until such shares have been purchased on the last day of the
applicable Accumulation Period. 
  
 
SECTION 12. SECURITIES LAW REQUIREMENTS. 
  
 Shares of Stock shall not be issued under the Plan unless the issuance and delivery of such shares comply with (or are exempt from) all applicable requirements of law, including (without limitation) the Securities Act
of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock exchange or other securities market on which the Company’s securities may then be traded. 

 
 
SECTION 13. STOCK OFFERED UNDER THE PLAN. 
  
 
(a) Authorized Shares.    Subject to shareholder approval, as of May 6, 2005 the cumulative number of shares of Stock reserved for issuance under the Plan shall be 3,000,000 (subject to
adjustment pursuant to this Section 13). 
  
 
(b) Anti-Dilution Adjustments.    The aggregate number of shares of Stock offered under the Plan and the price of shares that any Participant has elected to purchase shall be adjusted
proportionately by the Committee for any increase or decrease in the number of outstanding shares of Stock resulting from a subdivision or consolidation of shares or the payment of a stock dividend, any other increase or decrease in such shares
effected without receipt or payment of consideration by the Company, the distribution of the shares of a Subsidiary to the Company’s stockholders or a similar event. 
  
 
(c) Reorganizations.    Any other provision of the Plan notwithstanding, immediately prior to the effective time of a Corporate Reorganization, the Offering Period and Accumulation Period then
in progress shall 

  

 5 

 
terminate and shares shall be purchased pursuant to Section 7, unless the Plan is continued or assumed by the surviving corporation or its parent
corporation. The Plan shall in no event be construed to restrict in any way the Company’s right to undertake a dissolution, liquidation, merger, consolidation or other reorganization. 
  
 
SECTION 14. AMENDMENT OR DISCONTINUANCE. 
  
 The Board shall have the right to amend, suspend or terminate the Plan at any time and without notice. Except as provided in Section 13, any increase in the aggregate number of shares of Stock to be issued under the
Plan shall be subject to approval by a vote of the stockholders of the Company. In addition, any other amendment of the Plan shall be subject to approval by a vote of the stockholders of the Company to the extent required by an applicable law or
regulation. The Plan shall terminate automatically 20 years after its adoption by the Board, unless (a) the Plan is extended by the Board and (b) the extension is approved within 12 months by a vote of the stockholders of the Company. 
  
 
SECTION 15. DEFINITIONS. 
  
 
(a) “Accumulation Period” means, for Offering Periods in effect prior to May 1, 2005, a six-month period during which contributions may be made toward the purchase of Stock under the Plan, as determined
pursuant to Section 3(b), and for Offering Periods commencing on and after November 1, 2005, “Accumulation Period” shall have the same meaning as “Offering Period.” 
  
 
(b) “Board” means the Board of Directors of the Company, as constituted from time to time. 
  
 
(c) “Code” means the Internal Revenue Code of 1986, as amended. 
  
 
(d) “Committee” means a committee of the Board, as described in Section 2. 
  
 
(e) “Company” means Redback Networks Inc., a Delaware corporation. 
  
 
(f) “Compensation” means (i) the total compensation paid in cash to a Participant by a Participating Company, including salaries, wages, bonuses, incentive compensation, commissions, overtime pay and
shift premiums, plus (ii) any pre-tax contributions made by the Participant under section 401(k) or 125 of the Code. “Compensation” shall exclude all non-cash items, moving or relocation allowances, cost-of-living equalization payments,
car allowances, tuition reimbursements, imputed income attributable to cars or life insurance, severance pay, fringe benefits, contributions or benefits received under employee benefit plans, income attributable to the exercise of stock options, and
similar items. The Committee shall determine whether a particular item is included in Compensation. 
  
 
(g) “Corporate Reorganization” means: 
  
 (i) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization; or

  
 (ii) The sale, transfer or other disposition
of all or substantially all of the Company’s assets or the complete liquidation or dissolution of the Company. 
  
 
(h) “Eligible Employee” means any employee of a Participating Company whose customary employment is for more than five months per calendar year and for more than 20 hours per week. The foregoing
notwithstanding, an individual shall not be considered an Eligible Employee if his or her participation in the Plan is prohibited by the law of any country which has jurisdiction over him or her or if he or she is subject to a collective bargaining
agreement that does not provide for participation in the Plan. 
  
 
(i) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  

 6 

 
(j) “Fair Market Value” means the market price of Stock, determined by the Committee as follows: 
  
 (i) If the Stock was traded on The Nasdaq National Market on the date in question, then the Fair Market Value shall be equal to the
last-transaction price quoted for such date by The Nasdaq National Market; 
  
 (ii) If the Stock was traded on a stock exchange on the date in question, then the Fair Market Value shall be equal to the closing price reported by the applicable composite transactions report for such date; or

  
 (iii) If none of the foregoing provisions is
applicable, then the Fair Market Value shall be determined by the Committee in good faith on such basis as it deems appropriate. 
  
 Whenever possible, the determination of Fair Market Value by the Committee shall be based on the prices reported in The Wall Street Journal or as reported directly
to the Company by Nasdaq or a stock exchange. Such determination shall be conclusive and binding on all persons. 
  
 
(k) “IPO” means the initial offering of Stock to the public pursuant to a registration statement filed by the Company with the Securities and Exchange Commission. 
  
 
(l) “Offering Period” means for Offering Periods in effect prior to May 1, 2005, a 24-month period with respect to which the right to purchase Stock may be granted under the Plan, as determined pursuant
to Section 3(a); and for Offering Periods commencing on and after May 1, 2005, a 6-month period with respect to which the right to purchase Stock may be granted under the Plan, as determined pursuant to Section 3(a). 
  
 
(m) “Participant” means an Eligible Employee who elects to participate in the Plan, as provided in Section 3(c). 
  

(n) “Participating Company” means (i) the Company and (ii) each present or future Subsidiary designated by the Committee as a Participating Company. 
  
 
(o) “Plan” means this Redback Networks Inc. 1999 Employee Stock Purchase Plan, as it may be amended from time to time. 
  
 
(p) “Plan Account” means the account established for each Participant pursuant to Section 7(a). 
  
 
(q) “Purchase Price” means the price at which Participants may purchase Stock under the Plan, as determined pursuant to Section 7(b). 
  
 
(r) “Stock” means the Common Stock of the Company. 
  
 
(s) “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the
unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
  
 
SECTION 16. EXECUTION. 
  
 To
record the amendment and restatement of the Plan by the Board on March 30, 2005 the Company has caused its duly authorized officer to execute this document in the name of the Company. 
  

 7List of omitted schedules to the Stock Purchase Agreement

 EXHIBIT 10.14.1 
  
 EXHIBITS 
  

			
	EXHIBIT A	 	Shareholders
	EXHIBIT B	 	[Intentionally Left Blank]
	EXHIBIT C	 	[Intentionally Left Blank]
	EXHIBIT D	 	[Intentionally Left Blank]
	EXHIBIT E	 	Shareholders’ Agent Agreement
	EXHIBIT F-1	 	Navios Confidentiality Agreement, dated February 9, 2005
	EXHIBIT F-2	 	ISE Confidentiality Agreement, dated December 15, 2004
	EXHIBIT G	 	Deposit Escrow Agreement, dated February 28, 2005
	EXHIBIT H	 	EBITDA Adjustment Escrow Agreement, dated February 28, 2005
	
	SCHEDULES  

	Schedule 2.2	 	EBITDA Adjustment
	Schedule 2.3(a)	 	Payoff Indebtedness
	Schedule 2.3(b)	 	Released Liens
	Schedule 3.1(c)	 	Ownership
	Schedule 3.2(e)	 	Subsidiaries
	Schedule 3.2(g)	 	Subsidiaries: Equity Interests; Restrictions
	Schedule 3.3	 	Capital Stock
	Schedule 3.4	 	Non-Contravention
	Schedule 3.5(a)	 	Financial Statements
	Schedule 3.5(c)	 	Liabilities
	Schedule 3.6	 	Absence of Material Differences
	Schedule 3.7	 	Employees
	Schedule 3.8(a)	 	Employee Benefit Plans
	Schedule 3.8(e)	 	ERISA Non-Contravention
	Schedule 3.8(f)	 	Unfunded Liabilities
	Schedule 3.8(h)	 	COBRA Payments
	Schedule 3.9	 	Maritime Matters
	Schedule 3.10(a)	 	Assets: Owned
	Schedule 3.10(b)	 	Assets: Leased; Charter Parties
	Schedule 3.10(c)	 	Assets: Operating Condition
	Schedule 3.11	 	Permits; Compliance
	Schedule 3.12	 	Litigation
	Schedule 3.13	 	Environmental
	Schedule 3.14	 	Intellectual Property
	Schedule 3.15(a)	 	Owned Real Property
	Schedule 3.15(b)	 	Leased Real Property
	Schedule 3.16	 	Material Contracts
	Schedule 3.17	 	Insurance

			
	Schedule 3.18(b)	 	Tax Returns
	Schedule 3.18(c)	 	Tax Issues
	Schedule 3.18(d)	 	Tax Statute of Limitations
	Schedule 3.18(e)	 	Tax — Payments to a Person
	Schedule 3.19	 	Affiliate Transactions
	Schedule 3.20	 	Bank Accounts
	Schedule 3.21	 	Brokerage
	Schedule 4.4	 	Compliance
	Schedule 5.3(d)	 	Permitted Capital Expenditures
	Schedule 5.3(k)	 	Distribution Transactions
	Schedule 6.11	 	Terms of Non-Competition and Non-Solicitation Agreements
	Schedule 6.12	 	Terms of Employment Agreements

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