Document:

EXHIBIT 10.1

 

RESOLUTIONS
OF THE BOARD OF DIRECTORS

OF

MICROCHIP
TECHNOLOGY INCORPORATED 

NOVEMBER 1, 1996

 

ADOPTION OF
THE

MICROCHIP
TECHNOLOGY INCORPORATED 

SUPPLEMENTAL RETIREMENT PLAN

in the form
of the

FIDELITY
CORPORATEplan FOR RETIREMENT 

SELECT PLAN AND TRUST

 

WHEREAS, the Company wishes to adopt the Microchip
Technology, Incorporated Supplemental Retirement Plan, effective as of January 1,
1997; and

 

WHEREAS, the Company reserves the authority to amend
the Plan and Trust by filing with Fidelity Management Trust Company any
amendments adopted by the Board of Directors;

 

NOW
THEREFORE BE
IT RESOLVED that the Company adopts the Plan
and Trust in accordance with the terms set forth in the Fidelity CORPORATEplan
for Retirement Select Plan and Trust documents attached hereto, including the
Adoption Agreement as attached hereto (hereinafter “Plan” and/or “Trust”), all
of which are made a part of the minutes of this meeting; and

 

FURTHER
RESOLVED that the
Company amends the Plan as follows:

 

I.  Article 7 is amended by adding at the
end thereof the following new section:

 

7.08.  Unscheduled Withdrawal Right.  A Participant may request an unscheduled
withdrawal of all or any portion of the Account (to the extent vested) before
or after his termination of employment by written notice to the Employer;
provided that, the amount distributable from such Participant’s Account will be
reduced by ten percent (10%). This reduction will be forfeited and used to pay
expenses of the Plan and Trust.  If a
Participant elects an unscheduled withdrawal under this Section prior to
termination of employment, the Participant shall not be permitted to elect
Deferral Contributions, pursuant to Section 4.01, for a period of
twenty-four (24) months following the date of such withdrawal.

 

 

II.  Section 9.04
of the Plan is amended as follows:

 

1.              add
after the words “by the terms of the Plan” in the second to the last line of
that section the following: “or Section 10 of the Trust, if directed
by the Employer”; and

 

2.              add
after the words “with the terms of the Plan” in the second and last lines of
that section the following: “or Section 10 of the Trust, if directed
by the Employer.”

 

III. Section 11.02 of the Plan is amended by
adding at the end thereof the following language:

 

“The interpretation and construction of any
provision of the Plan and the exercise of any discretion granted hereunder to
the Administrator shall be final and binding on the Participants, their
dependents and all other interested persons.”

 

FURTHER RESOLVED that the Company amends the Trust as
follows:

 

I.  Section 7(b) of the Trust is
amended by adding at the end thereof the following language:

 

“...; provided, however, nothing in this Agreement or in the Plan shall
relieve the Trustee from responsibility or liability if the Trustee follows
direction which it knows are contrary to the terms of the Agreement or the Plan
or any applicable law.”

 

II.  Section 7(d) of the Trust is
amended by adding at the end thereof the following language:

 

“..., or
failure to perform its obligations under this Agreement, in which case the
Trustee shall indemnify the Sponsor.  The
provision of this Section shall survive the termination of this
Agreement.  This indemnification is
conditioned on the indemnifying party receiving prompt written notice of any
claims requiring indemnification and being given full and complete information,
authority and assistance for the defense of the same.  The indemnifying party shall not be
responsible for any claim entered into by the indemnified party without its
prior consent.”

 

2

 

III. The second sentence of Section 10 of the Trust
is amended and a new sentence is added after such amended second sentence, so that
these sentences read as follows:

 

“On the date of the termination of this Agreement,
the Trustee shall forthwith transfer and deliver to the Plan participants or
beneficiaries, if directed by the Sponsor, or if not so directed, to such
individual or entity as the Sponsor shall designate, all cash and assets then
constituting the Trust. The amount and manner of distribution to the Plan
participants or beneficiaries shall be specified by the Sponsor.”

 

FURTHER RESOLVED that the appropriate officers of the Company
be, and they hereby are, authorized and directed to take such actions as may be
necessary or desirable to effectuate the foregoing resolutions.

 

3

 

AMENDMENT
TO THE

MICROCHIP
TECHNOLOGY INCORPORATED 

SUPPLEMENTAL RETIREMENT PLAN

 

WHEREAS, Microchip Technology INC. (the “Employer”)
adopted the Microchip Technology INC. Supplemental Retirement Plan (the “Plan”)
through adoption of the Fidelity Investments CORPORATEplan for Retirement Select Plan Basic Plan
Document and Amendments (“the Basic Plan Document”), effective as of January 1,
1997, for which Fidelity Management Trust Company (the “Trustee”) serves as
trustee of the trust established to hold Plan assets (the “Trust”); and

 

WHEREAS, the Employer desires to amend the Plan as
follows effective March 31, 2003. Add the following:

 

1.              To Article 4.01 of the Basic Plan
Document: “Each Participant may elect to execute a separate bonus deferral
agreement with the Employer to reduce his Bonus by a specified percentage not
exceeding the percentage set forth in Section 1.05(a) and equal to a
whole number multiple of one (1) percent.”

 

2.              To Section 1.05(a) of the Adoption
Agreement: “The Employer shall allow a Bonus Deferral Contribution in
accordance with Section 4.01 on behalf of each Participant who has an
executed bonus deferral agreement in effect with the Employer for the Plan Year
(or portion of the Plan Year) in question, not to exceed 50% of Bonus for that
Plan Year.”

 

In witness whereof, the Employer has signed this instrument this 21st  day of March, 2003. 

 

	
  Microchip Technology INC.

  
	
   

  
	
  By:
  

  	
  /s/
  Linda Croft

  	
   

  
	
   

  
	
  Title:
  Manager, Employee benefits

  

 

 

4/11/94

 

subsequently again becomes an eligible
Employee, the individual shall resume full participation in accordance with Section 3.01.

 

Article 4.  Contributions.

 

4.01.        Deferral Contributions.  Each Participant may elect to execute a salary
reduction agreement with the Employer to reduce his Compensation by a specified
percentage not exceeding the percentage set forth in Section 1.05(a) and
equal to a whole number multiple of one (1) percent.  Such agreement shall become effective on the
first day of the period as set forth in the. Participant’s election.  The election will be effective to defer
Compensation relating to all services performed in a Plan Year subsequent to
the filing of such an election. An election once made will remain in effect
until a new election is made.  A new
election will be effective as of the first day of the following Plan Year and
will apply only to Compensation payable with respect to services rendered after
such date.  Amounts credited to a
Participant’s account prior to the effective date of any new election will not
be affected and will be paid in accordance with that prior election.  The Employer shall credit an amount to the
account maintained on behalf of the Participant corresponding to the amount of
said reduction.  Under no circumstances may
a salary reduction agreement be adopted retroactively.  A Participant may not revoke a salary
reduction agreement for a Plan year during that year.

 

4.02.        Matching Contributions.  If so provided by the Employer in Section 1.05(b),
the Employer shall make a Matching Contribution to be credited to the account
maintained on behalf of each Participant who had Deferral Contributions made on
his behalf during the year and who meets the requirement, if any, of Section 1.05(b)(3).  The amount of the Matching Contribution shall
be determined in accordance with Section 1.05(b).

 

4.03.        Time of Making Employer Contributions.  The Employer will from time to time make a
transfer of assets to the Trustee for each Plan Year.  The Employer shall provide the Trustee with
information on the amount to be credited to the separate account of each
Participant maintained under the Trust.

 

Article 5.  Participants’
Accounts.

 

5.01.  Individual Accounts.  The Administrator will establish and maintain
an Account for each Participant which will reflect Matching and Deferral
Contributions credited to the Account on behalf of the Participant and
earnings, expenses, gains and losses credited thereto, and deemed investments
made with amounts in the Participant’s Account.  The Administrator will establish and maintain
such other accounts and records as it decides in its discretion to be
reasonably required or appropriate in order to discharge its duties under the
Plan.  Participants will be furnished
statements of their Account values at least once each Plan Year.

 

6

 

EXHIBT “A” TO UNANIMOUS WRITTEN CONSENT OF ADMINISTRATIVE
COMMITTEE

 

DATED DECEMBER 9, 1999

 

1.03        COVERAGE

 

(a)           Only those Employees listed in Attachment A will be eligible
to participate in the Plan.   :

 

(b)           The Entry Date(s) shall be (check one):

 

(1)            o the first day of each Plan Year.

 

(2)            o the first day of each Plan Year and the date
six months later.

 

(3)            o the first day of each Plan Year and the
first day of the fourth, seventh, and tenth months.

 

(4)           ý the first day of each month.

 

1.04    COMPENSATION

 

For purposes of determining
Contributions under the Plan, Compensation shall be as defined in Section 2.01(a)(6),
but excluding (check
the appropriate box(es)):

 

	
  (a)

  	
   

  	
  ý

  	
   

  	
  Overtime Pay.

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (b)

  	
   

  	
  o

  	
   

  	
  Bonuses.

  	
   

  	
  Effective date:

  	
   

  	
  4/1/03

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Authorized signer:

  	
   

  	
   /s/ Linda Croft

  	
   

  
	
  (c)

  	
   

  	
  ý

  	
   

  	
  Commissions.

  	
   

  	
  Date:

  	
  1/30/03

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (d)

  	
   

  	
  ý

  	
   

  	
  The value of a qualified or a non-qualified stock option granted to
  an

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Employee by the Employer to the extent such value is includable in
  the

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Employee’s taxable income.

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (e)

  	
   

  	
  o

  	
   

  	
  No exclusions.

  	
   

  	
   

  	
   

  	
   

  
													

 

1.05   CONTRIBUTIONS

 

(a)                               Deferral Contributions The
Employer shall make a Deferral Contribution in accordance with Section 4.01
on behalf of each Participant who has an executed salary reduction agreement in
effect with the Employer for the Plan Year (or portion of the Plan Year) in
question, not to exceed 15 25%
of 50% Compensation
for that Plan Year.

 

	
   

  	
  Effective
  Date:

  	
  4/1/03

  
	
   

  	
  Authorized
  Signer:

  	
  /s/
  Linda Croft

  	
   

  
	
  Effective:
  January 1, 2000

  	
  Date:

  	
  1/30/03

  
	
  Authorized
  Signer:

  	
  /s/
  Sue Flores

  	
   

  	
   

  
	
  Date:
  12/9/99

  	
   

  
									

 

4/11/94

3

 

AMENDMENT
TO THE

MICROCHIP TECHNOLOGY INCORPORATED 

SUPPLEMENTAL RETIREMENT PLAN

 

WHEREAS, Microchip Technology INC. (the “Employer”)
adopted the Microchip Technology INC. Supplemental Retirement Plan (the “Plan”)
through adoption of the Fidelity Investments CORPORATEplan for Retirement Select Plan Basic Plan
Document and Amendments (“the Basic Plan Document”), effective as of January 1,
1997, for which Fidelity Management Trust Company (the “Trustee”) serves as
trustee of the trust established to hold Plan assets (the “Trust”); and

 

WHEREAS, the Employer desires to amend the Plan as
follows effective January 1, 2004.

 

1. Article 7 is amended by deleting Section 7.08
- Unscheduled Withdrawal Right.

 

In witness whereof, the
Employer has signed this instrument this  
13th   day of November, 2003.

 

Microchip Technology INC.

 

 

	
  By:

  	
  /s/
  Linda Croft

  	
   

  
	
   

  
	
  Title:
  Manager, Employee BenefitsExhibit 10.15

 

December
12, 2005 (revised)

 

Daniel Sutherby

 

Dear
Dan:

 

We at ABIOMED are pleased to offer you the position of Chief Financial
Officer reporting to Michael Minogue, Chairman, CEO & President with a
starting salary paid at the semi-monthly rate of $9,375.00 (equivalent to
$225,000 per year). You will be eligible to participate in ABIOMED’s benefit
plans, which include medical, dental, life, long and short-term disability
insurance commencing on your first day of employment.  You will also be eligible to participate in
our 401(k) plan, which includes a matching contribution.  All benefits are subject to the provisions of
the plan. Also, your vacation will accrue at a monthly rate of 13.33 hours,
which is equivalent to four (4) weeks per year.

 

In addition, you will be paid a sign-on bonus in the
amount of $50,000, payable in two $25,000 payments at the end of January and at
the end of February 2006, provided that you begin your employment on or before
January 3, 2006. Also, you will be eligible for a bonus with an annual target
pay-out of $100,000 for outstanding performance.  During your first year, your bonus will be
pro-rated based on achievement of personal and Company objectives, which will
be established by you and Mike Minogue.

 

Subject to the approval
by the Compensation Committee of the Board of Directors, you will also be
granted a sign-on option to purchase 80,000 (eighty thousand) shares of Common
Stock of ABIOMED, INC. pursuant to the Company’s Incentive Stock Option
Plan.  Under the plan, this option will
be granted at the closing market price on the date when you begin employment
with ABIOMED.  The option will vest over
four years according to the following schedule: 25% on your one-year anniversary
of the option issuance date, and 25% on your second, third, and fourth
anniversary date of the issuance.  In the
event of a change of control, merger, or acquisition, the unvested portion of
this option will become fully vested, as provided in the ABIOMED, Inc. 2000
Stock Incentive Plan.

 

In the event of a change of control, merger, or acquisition (as those
terms are currently defined in the ABIOMED, Inc. 2000 Stock Incentive Plan) and
your position is eliminated as a result thereof, or your responsibilities are
substantially diminished, or you are required to relocate, ABIOMED or its
successor: (1) will continue to pay your salary semi-monthly for a period of
one year, and; (2) will continue your health benefits for a period up to one
year or until you are employed by another firm, whichever occurs first.

 

 

Your employment is subject to a background check as
well as the successful comple¬tion of a Company-paid initial-employment
physical and drug screen.   In addition,
all employees are required to sign our standard em¬ploy¬ment, nondisclosure/non-compete
agree¬ment and complete all statuto¬ry em¬ployment forms.  Instruc¬tions and docu¬men¬ta¬tion necessary
to complete the forms are enclosed.

 

Once you have had an opportunity to review the above
information, please con­firm your ac­cep­tance of this of­fer, by signing the
original of this letter and returning one copy of this letter to me.  This
offer will expire three business days from today.

 

We look forward to you
joining the ABIOMED executive management team and to your many contributions
toward our continued growth and success. 
Should you have any questions or
require more specific informa­tion, please call me at (978) 646-1718.

 

Sincerely,

 

	
  /s/ Gary Stickel

  	
   

  
	
   

  
	
  Gary Stickel

  
	
  Vice President, Human
  Resources

  

 

AGREED TO
AND ACCEPTED

 

I accept the above
described position and terms of employ­ment. 
My start date will be January 3, 2006.

 

 

	
  /s/ Daniel J. Sutherby

  	
   

  	
  December 13, 2005

  	
   

  
	
  Name

  	
  Date

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