Document:

Exhibit

  Exhibit 10.1
AMENDMENT NO. 1 TO AMKOR TECHNOLOGY, INC. 
AMENDED AND RESTATED 2007 EQUITY INCENTIVE PLAN

THIS AMENDMENT NO. 1 to the Amkor Technology, Inc. Amended and Restated 2007 Equity Incentive Plan (the “Plan”) is made by AMKOR TECHNOLOGY, INC., a Delaware corporation (the “Company”).
WHEREAS, pursuant to Section 21 of the Plan, the Board of Directors of the Company has the authority to amend the Plan.
NOW THEREFORE, effective March 4, 2015, the Plan is hereby amended as follows: 
1.  Section 12 of the Plan is hereby amended and restated in its entirety as follows:
“12. Formula Option and Restricted Stock Grants to Outside Directors. 
(a) General. All grants of Options and Restricted Stock to Outside Directors pursuant to this Section 12 will be automatic and nondiscretionary, except as otherwise provided herein, and will be made in accordance with the following provisions: 
(b) Type of Awards. All Options granted pursuant to this Section will be Nonstatutory Stock Options and, except as otherwise provided herein, will be subject to the other applicable terms and conditions of the Plan (including, without limitation, Section 6(d)(ii)-(vi)). Except as otherwise provided herein, all Restricted Stock granted pursuant to this Section will be subject to the other applicable terms and conditions of the Plan.   
(c) No Discretion. No person will have any discretion to select which Outside Directors will be granted awards of Options and Restricted Stock under this Section or to determine the number of Shares to be covered by such Awards (except as provided in Sections 12(i) and 16). 
(d) Initial Award. Each person who first becomes an Outside Director will be automatically granted: (i) an Option to purchase a number of Shares equal to the product of (I) 20,000 multiplied by (II) a fraction, the numerator of which is the number of days in the period beginning on the date such person first becomes an Outside Director and ending on the date of the first annual meeting of the stockholders of the Company thereafter, and the denominator of which is 365 (the “Fraction”) rounded down to the nearest whole number (the “Initial Option”) and (ii) and Award of Restricted Stock equal to the product of (I) $40,000 divided by the Fair Market Value of a Share on the date such person first becomes an Outside Director multiplied by (II) the Fraction rounded down to the nearest whole number (the “Initial Restricted Stock Award”).  The Initial Option and the Initial Restricted Stock Award shall be granted on or about the date on which such person first becomes an Outside Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy; provided, however, that an Inside Director who 

ceases to be an Inside Director, but who remains a Director, will not receive an Initial Option or an Initial Restricted Stock Award. 
(e) Annual Option. Each Outside Director will be automatically granted an Option to purchase twenty thousand (20,000) Shares (an “Annual Option”) on each date of the annual meeting of the stockholders of the Company. 
(f) Option Terms. The terms of each Option granted pursuant to this Section 12 will be as follows: 
(i) The term of the Option will be ten (10) years, subject to earlier termination as set forth in the Award Agreement. 
(ii) The exercise price per Share will be one hundred percent (100%) of the Fair Market Value per Share on the date of grant of the Option. 
(iii) Subject to Section 16, the Option will vest and become exercisable as to one hundred percent (100%) of the Shares subject to the Option on the earlier of the first anniversary of the date of grant or the date of the first annual meeting of the stockholders of the Company immediately following the date of grant, in either case, provided that the Participant continues to serve as a Director through such date.
(g)  Annual Restricted Stock Award. Each Outside Director will be automatically granted Restricted Stock having a Fair Market Value of forty thousand dollars ($40,000) (an “Annual Restricted Stock Award”) on each date of the annual meeting of the stockholders of the Company.  
(h)  Restricted Stock Terms.  Notwithstanding anything to the contrary in Section 7(b), the Period of Restriction applicable to each Initial Restricted Stock Award and each Annual Restricted Stock Award shall lapse on the earlier of the first anniversary of the date of grant or the date of the first annual meeting of the stockholders of the Company immediately following the date of grant, in either case, provided that the Participant continues to serve as a Director through such date.
(i) Adjustments. The Administrator in its discretion may change and otherwise revise the terms of Options and Restricted Stock to be granted under this Section 12, including, without limitation, the number of Shares and exercise prices thereof, for Options and Restricted Stock granted on or after the date the Administrator determines to make any such change or revision. 
(j) Other Awards. Nothing in this Section 12 will limit the ability of the Administrator to grant any other Award under the Plan to Outside Directors in addition to the Options and Restricted Stock that are granted to them under this Section 12.”
2.  Except as expressly amended hereby, the Plan shall remain unmodified and in full force and effect.tmoq315ex10_1.htm

 

 

Exhibit 10.1

 

 

NONCOMPETITION AGREEMENT

 

THIS AGREEMENT, dated as of September 10, 2015, is made by and between Mark P. Stevenson, an individual residing at (ADDRESS) (the "Employee"), and Thermo Fisher Scientific Inc., a Delaware corporation whose principal offices are located at 81 Wyman Street, Waltham, Massachusetts 02451 ("Employer").

 

WHEREAS, Employer, including its subsidiaries and affiliates, is the world leader in serving science, offering analytical and diagnostic instruments, systems, laboratory equipment, software, services, consumables and reagents to help its customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics and increase laboratory productivity.

              

        WHEREAS, Employer has developed and continues to develop and use certain trade secrets, customer lists and other proprietary and confidential information and data, which Employer has spent a substantial amount of time, effort and money, and will continue to do so in the future, to develop or acquire such proprietary and confidential information and to promote and increase its good will.

NOW, THEREFORE, in consideration of Employee’s new employment or continued employment by Employer or a subsidiary or affiliate thereof, and Employee’s compensation, in particular additional valuable consideration including, but not limited to Employee’s participation in Employer’s Executive severance plans and the granting of certain restricted stock units and stock options, which is conditioned, at least in part, upon Employee’s execution and delivery of this Agreement, Employee’s access to and provision with Confidential Information and Trade Secrets belonging to Employer (as defined in the Company Information and Invention Agreement, the Information and Technology Agreement, or any predecessor agreement you have signed, collectively referred to hereinafter as “Company Information and Invention Agreement”), and for other good and sufficient consideration, Employee understands and agrees to the following:

Section 1.    Employee recognizes and acknowledges that it is essential for the proper protection of Employer’s legitimate business interests that Employee be restrained for a reasonable period following the termination of Employee’s employment with Employer, either voluntarily or involuntarily, from competing with Employer as set forth below.

 

Employee acknowledges and agrees that during the term of Employee’s employment with Employer, and for a period of twelve (12) months thereafter, Employee will not, directly or indirectly, engage, participate or invest in or be employed by any Competitive Business within the Restricted Area.   The foregoing restrictions shall apply regardless of whether Employee engages, participates or invests in or is employed by a given business, as owner, partner, shareholder, consultant, agent, employee, co-venturer or otherwise.

        For purposes of this Section 1:

 

	 	●	“Competitive Business” shall mean any entity that (i) develops or manufactures products which are competitive with or similar to products developed or manufactured by Employer’s Business; (ii) distributes, markets or otherwise sells, either through a direct sales force or through the use of the Internet, products manufactured by others which are competitive with or similar to products distributed, marketed or sold by Employer’s Business; or (iii) provides services, including the use of the Internet to sell, market or distribute products, which are competitive with or similar to services provided by Employer’s Business, including, in each case, any products or services Employer has under development or which are the subject of active planning at any time during the term of Employee’s employment.
	 	 	 
	 	●	“Employer’s Business” shall mean only the particular Business Group(s) of Employer in which Employee was employed at any time within the last twenty-four (24) months prior to employment termination.  If Employee was employed in Employer’s Corporate function within the 24 months prior to termination of employment, then “Employer’s Business” for purposes of this Agreement shall be interpreted as any and all business conducted by Thermo Fisher Scientific, Inc. and its subsidiaries and affiliates.
	 	 	 
	 	●	“Restricted Area” shall mean each state and territory of the United States of America and each country of the world outside of the United States of America in which Employer’s Business had developed, marketed, sold and/or distributed its products and/or services within the last two (2) years of Employee’s employment.

 

        Section 2.            During the term of Employee’s employment with Employer and for a period of twelve (12) months after employment ends, whether voluntarily or involuntarily, Employee will not, directly or indirectly without the prior consent of Employer, service or solicit customers or prospective customers of Employer for competitive business purposes.  This restriction shall apply only to those customers or prospective customers of Employer with whom Employee had contact or about whom Employee had access to Confidential Information or Trade Secrets during the two (2) years prior to the termination of Employee’s employment with Employer. For the purposes of this Section, the term “contact” means interaction with the customer which takes place to further the business relationship, or making sales to or performing services for the customer or prospective customer on behalf of Employer.  For purposes of this Section, the term “contact” with respect to a “prospective” customer means interaction with a potential customer of Employer which takes place to obtain the business of the potential customer on behalf of Employer.

        Section 3.            During the term of Employee’s employment with Employer and for a period of twelve (12) months after employment ends, whether voluntarily or involuntarily, Employee will not solicit, induce or identify for employment, or attempt to solicit, induce or identify for employment, directly or indirectly, any employee(s) of Employer to leave his or her employment and become an employee, consultant or representative of any other entity including, but not limited to, Employee’s new employer, if any.

 

Section 4.            Sections 1 and 2 regarding noncompetition and nonsolicitation of customers shall not apply to California employees so long as they live and work in California, but otherwise remain fully applicable.

Section 5.            For the period of twelve (12) months immediately following the end of Employee’s employment by Employer, Employee will inform each new employer, prior to accepting employment, of the existence of this Agreement and provide that employer with a copy of this Agreement.

Section 6.            Employer understands and agrees that the provisions of this Agreement shall not prevent Employee from acquiring or holding publicly traded stock or other publicly traded securities of a business, so long as Employee’s ownership does not exceed 1% percent of the outstanding securities of such company of the same class as those held by Employee.

 

Section 7.            Employee acknowledges that the time, geographic area and scope of activity limitations set forth herein are reasonable and necessary to protect Employer’s legitimate business interests. However, if in any judicial proceeding a court refuses to enforce this Agreement, whether because the time limitation is too long or because the restrictions contained herein are more extensive (whether as to geographic area, scope of activity or otherwise) than is necessary to protect the legitimate business interests of Employer, it is expressly understood and agreed between the parties hereto that this Agreement is deemed modified to the extent necessary to permit this Agreement to be enforced in any such proceedings.

 

Section 8.            Employee further acknowledges and agrees that it would be difficult to measure any damages caused to Employer which might result from any breach by Employee of any of the promises set forth in this Agreement, and that, in any event, money damages would be an inadequate remedy for any such breach. Accordingly, Employee acknowledges and agrees that if he or she breaches or threatens to breach, any portion of this Agreement, Employer shall be entitled, in addition to all other remedies that it may have, to an injunction or other appropriate equitable relief to restrain any such breach without showing or proving any actual damage to Employer.

Section 9.            Employee acknowledges and agrees that should it become necessary for Employer to file suit to enforce the covenants contained herein, and any court of competent jurisdiction awards Employer any damages and/or an injunction due to the acts of Employee, then Employer shall be entitled to recover its reasonable costs incurred in conducting the suit including, but not limited, reasonable attorneys’ fees and expenses.

Section 10.          Employee acknowledges and agrees that this Agreement does not constitute a contract of employment and does not imply that Employer or any of its subsidiaries will continue Employee's employment for any period of time.

Section 11.          This Agreement represents the entire understanding of the parties with respect to the subject matter hereof and any previous agreements or understandings between the parties regarding the subject matter hereof are merged into and superseded by this Agreement.

Section 12.          This Agreement cannot be modified, amended or changed, nor may compliance with any provision hereof be waived, except by an instrument in writing executed by the party against whom enforcement of such modification, amendment, change or waiver is sought. Any waiver by a party of the breach of any provision of this Agreement shall not operate or be construed as a waiver of any other breach of such provision or of any breach of any other provision of this Agreement. The failure of a party to insist upon strict compliance with any provision of this Agreement at any time shall not deprive such party of the right to insist upon strict compliance with such provision at any other time or of the right to insist upon strict compliance with any other provision hereof at any time.

Section 13.          All notices, requests, demands, consents and other communications which are required or permitted hereunder shall be in writing, and shall be deemed given when actually received or if earlier, two days after deposit with the U.S. postal authorities, certified or registered mail, return receipt requested, postage prepaid or two days after deposit with an internationally recognized air courier or express mail, charges prepaid, addressed as follows:

If to Employer:

Thermo Fisher Scientific Inc.

81 Wyman Street

Waltham, Massachusetts 02451

Attention: General Counsel

If to Employee, at the address set forth above, or to such other address as any party hereto may designate in writing to the other party, specifying a change of address for the purpose of this Agreement.

Section 14.          This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

Section 15.          This Agreement shall be construed and interpreted in accordance with, and shall be governed exclusively by, the laws of the Commonwealth of Massachusetts and the federal laws of the United States of America. In the event litigation is maintained by a party to this Agreement against any other party to enforce this Agreement or to seek any remedy for breach, then each party hereto shall be responsible for such party's own attorneys' fees and costs of suit, except as provided in Section 9.

Section 16.          EMPLOYEE ACKNOWLEDGES THAT EMPLOYEE HAS CAREFULLY READ THIS AGREEMENT AND HAS HAD ADEQUATE TIME AND OPPORTUNITY TO CONSULT WITH AN ATTORNEY OF EMPLOYEE'S OWN CHOOSING REGARDING THE MEANING OF THE TERMS AND CONDITIONS CONTAINED HEREIN, AND EMPLOYEE FURTHER ACKNOWLEDGES THAT EMPLOYEE FULLY UNDERSTANDS THE CONTENT AND EFFECT OF THIS AGREEMENT AND AGREES TO ALL OF THE PROVISIONS CONTAINED HEREIN.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

 

	MARK P. STEVENSON	 	THERMO FISHER SCIENTIFIC INC.
	 	 	 
	 	 	 
	/s/ Mark P. Stevenson                           	 	 By: /s/ Sue Rice              
	 	 	        Sue Rice
	 	 	        Senior Vice President, Human Resources

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