Document:

Brainstorm Cell Therapeutics Inc.

 

Second Amended and Restated Director
Compensation Plan

 

(adopted July 9, 2014)

 

 

1.Purpose. In order to attract and retain highly
qualified individuals to serve as members of the Board of Directors of Brainstorm Cell Therapeutics Inc. (the “Corporation”),
the Corporation has adopted this Brainstorm Cell Therapeutics Inc. Second Amended and Restated Director Compensation Plan (the
“Plan”), effective on the day that it is adopted by the Board of Directors of the Corporation. This Plan amends and
restates in its entirety the Amended and Restated Director Compensation Plan dated December 31, 2013, with effect from the date
hereof.

 

2.Eligible Participants. Any director of the Corporation
who is not an employee of the Corporation or any of its subsidiaries or affiliates (an “Independent Director”) is an
eligible participant. However, Chen Schor shall not be an eligible participant.

 

3.Annual Award.

 

(a)U.S. Directors. Each Independent
Director who is U.S.-based (a “U.S. Director”) who is serving as a director of the Corporation immediately following
each annual meeting of stockholders beginning with the 2014 annual meeting, shall automatically be granted on the first business
day (as recognized in New York) after each such annual meeting of stockholders, either (i) a nonqualified stock option to purchase
100,000 shares of Common Stock (subject to appropriate adjustment in the case of stock splits, reverse stock splits and the like)
(the “Annual Option Award”) or (ii) 100,000 shares of Common Stock (subject to appropriate adjustment in the
case of stock splits, reverse stock splits and the like) (the “Annual Stock Award”).

 

(b) Israeli Directors. Each Independent
Director who is not a U.S. Director who is serving as a director of the Corporation on the date of each annual meeting of stockholders
(or special meeting in lieu thereof) beginning with the 2014 annual meeting, shall automatically be granted on the first business
day after each such annual meeting of stockholders, a nonqualified stock option to purchase 200,000 shares of Common Stock (subject
to appropriate adjustment in the case of stock splits, reverse stock splits and the like) (the “Israeli Annual Option Award”).

 

4.Committee Awards. 

 

(a)U.S. Directors. Each U.S.
Director who is serving as a member of the Governance, Nominating and Compensation Committee of the Board of Directors (the “GNC
Committee”) or the Audit Committee of the Board of Directors immediately following each annual meeting of stockholders beginning
with the 2014 annual meeting, shall automatically be granted on the first business day (as recognized in New York) after each such
annual meeting of stockholders, either (i) a nonqualified stock option to purchase 30,000 shares of Common Stock (subject to appropriate
adjustment in the case of stock splits, reverse stock splits and the like) (the “Committee Option Award”) or
(ii) 30,000 shares of Common Stock (subject to appropriate adjustment in the case of stock splits, reverse stock splits and the
like) (the “Committee Stock Award”).

 

    	 

    	 

    

  

(b) Israeli Directors. Each Independent
Director who is not a U.S. Director who is serving as a member of the GNC Committee or the Audit Committee of the Board of Directors
immediately following each annual meeting of stockholders beginning with the 2014 annual meeting, shall automatically be granted
on the first business day (as recognized in New York) after each such annual meeting of stockholders, a nonqualified stock option
to purchase 30,000 shares of Common Stock (subject to appropriate adjustment in the case of stock splits, reverse stock splits
and the like) (the “Israeli Committee Option Award”).

 

(c)For the avoidance of doubt, any director
who serves on both the GNC Committee and the Audit Committee shall receive an award for service on each committee. Further, any
director who serves as a chairperson of either the GNC Committee or Audit Committee shall receive a committee chairperson award
as described in Section 5 below instead of a committee award as described in this Section.

 

5.Committee Chairperson Awards. 

 

(a)U.S. Directors. Each U.S.
Director who is serving as a chairperson of the GNC Committee or the Audit Committee of the Board of Directors immediately following
each annual meeting of stockholders beginning with the 2014 annual meeting, shall automatically be granted on the first business
day (as recognized in New York) after each such annual meeting of stockholders, either (i) a nonqualified stock option to purchase
50,000 shares of Common Stock (subject to appropriate adjustment in the case of stock splits, reverse stock splits and the like)
(the “Committee Chair Option Award”) or (ii) 50,000 shares of Common Stock (subject to appropriate adjustment
in the case of stock splits, reverse stock splits and the like) (the “Committee Chair Stock Award”).

 

(b) Israeli Directors. Each Independent
Director who is not a U.S. Director who is serving as a chairperson of the GNC Committee or the Audit Committee of the Board of
Directors immediately following each annual meeting of stockholders beginning with the 2014 annual meeting, shall automatically
be granted on the first business day (as recognized in New York) after each such annual meeting of stockholders, a nonqualified
stock option to purchase 50,000 shares of Common Stock (subject to appropriate adjustment in the case of stock splits, reverse
stock splits and the like) (the “Israeli Committee Chair Option Award”).

 

(c)For the avoidance of doubt, any director
who serves as a chairperson of either the GNC Committee or the Audit Committee shall receive a committee chairperson award for
service on such committee instead of a committee award as described in Section 4.

 

    	 

    	 

    

  

6.Chairperson Award. Any eligible participant
who is serving as chairperson of the Board of Directors of the Corporation immediately following each annual meeting of stockholders
beginning with the 2014 annual meeting, shall automatically be granted on the first business day (as recognized in New York) after
each such annual meeting of stockholders, either a nonqualified stock option to purchase 100,000 shares of Common Stock (subject
to appropriate adjustment in the case of stock splits, reverse stock splits and the like) of the Corporation (the “Chair
Option Award”), provided, however, if the chairperson is a U.S. Director, he or she shall have the right to instead elect
to receive 100,000 shares of Common Stock (the “Chair Stock Award”). For the avoidance of doubt, the chairperson of
the Board of Directors will only have the choice of receiving the Chair Stock Award if s/he is a U.S. Director. The Chairperson
Award shall be in addition to any Annual Award, Committee Award or Committee Chairperson Award (under Sections 3, 4 or 5, respectively)
to which a chairperson may be entitled.

 

7. Pro Rata Grants. In the event that an Independent
Director begins serving as a director of the Corporation on a day subsequent to the date of the annual meeting of stockholders,
each such director shall automatically be granted an initial grant, which shall be the Annual Option Award, Annual Stock Award
or Israeli Annual Option Awards, as applicable, plus any applicable Committee Awards, Committee Chairperson Awards or Chairperson
Awards to acquire a pro rata portion of the number of shares of Common Stock referred to in Sections 3, 4, 5 and 6 hereof, as applicable,
upon the fifth business day after such appointment to the Board of Directors, based on the following calculation: 365 minus the
number of days since the last annual meeting of stockholders, divided by 365 and then multiplied by the applicable awards (subject
to appropriate adjustment in the case of stock splits, reverse stock splits and the like).

 

8.Choice of Awards. Each U.S. Director must choose
on an annual basis whether to receive the Annual Option Award or Annual Stock Award plus any applicable Committee Awards, Committee
Chairperson Awards or Chairperson Awards. Each U.S. Director must provide written notice to the Chief Financial Officer of the
Corporation of his or her election to receive an Annual Option Award or Annual Stock Award no later than the date of grant. In
the event the U.S. Director does not make a timely written election, then s/he shall receive the Annual Stock Award.

 

9.Terms of Annual Option Awards.

 

(a) Stock Option Agreement. Each
Annual Option Award (and Committee Option Award, Committee Chair Option Award and Chair Option Award to a U.S. Director) shall
be governed by the terms and conditions of a stock option agreement, substantially in the form set forth as Exhibit A attached
hereto, and shall be subject to all the terms and conditions of the Plan and the 2005 U.S. Stock Option and Incentive Plan (or
successor plan thereto).

 

(b) Exercise Price. The exercise
price per share of the Common Stock subject to an Annual Option Award (and Committee Option Award, Committee Chair Option Award
and Chair Option Award to a U.S. Director) granted under this Plan shall be equal to the closing price per share of the Common
Stock on the grant date as reported on The Over-the-Counter Bulletin Board or the national securities exchange on which the Common
Stock is then traded (and if the Common Stock is not then traded on The Over-the-Counter Bulletin Board or a national securities
exchange, the fair market value of the Common Stock on such date as determined by the Board of Directors). The exercise price for
the shares of Common Stock subject to such awards may be paid by any method or combination of methods approved by the Board of
Directors and in accordance with the Plan.

 

    	 

    	 

    

 

(c) Vesting. Each Annual Option
Award (and Committee Option Award, Committee Chair Option Award and Chair Option Award to a U.S. Director) will vest and become
exercisable (“vest”) monthly as to 1/12th the number of shares subject to the option over a period of twelve
months from the date of grant such that each such award will be fully vested and exercisable on the first anniversary of the date
of grant, provided that the recipient remains a director of the Corporation on each such vesting date, or, in the case of a Committee
Award, remains a member of the committee on each such vesting date.

 

10.Terms of Israeli Annual Option Awards.

 

(a) Stock Option Agreement. Each
Israeli Annual Option Award (and Israeli Committee Option Award, Israeli Committee Chair Option Award and Chair Option Award to
a non-U.S. Director) shall be governed by the terms and conditions of a stock option agreement, substantially in the form set forth
as Exhibit B attached hereto, and shall be subject to all the terms and conditions of the Plan and the 2004 Global Share
Option Plan (or successor plan thereto).

 

(b) Exercise Price. The exercise
price per share of the Common Stock subject to an Israeli Annual Option Award (and Israeli Committee Option Award, Israeli Committee
Chair Option Award and Chair Option Award to a non-U.S. Director) granted under this Plan shall be equal to $0.05 (subject to appropriate
adjustment in the case of stock splits, reverse stock splits and the like). The exercise price for the shares of Common Stock subject
to such awards may be paid by any method or combination of methods approved by the Board of Directors and in accordance with the
Plan.

 

(c) Vesting. Each Israeli Annual
Option Award (and Israeli Committee Option Award, Israeli Committee Chair Option Award and Chair Option Award to a non-U.S. Director)
will vest and become exercisable (“vest”) monthly as to 1/12th the number of shares subject to the option
over a period of twelve months from the date of grant such that each such award will be fully vested and exercisable on the first
anniversary of the date of grant, provided that the recipient remains a director of the Corporation on each such vesting date,
or, in the case of a Committee Award, remains a member of the committee on each such vesting date.

 

11.Terms of Restricted Stock.

 

(a) Restricted Stock Agreement. Each
Annual Stock Award (and Committee Stock Award, Committee Chair Stock Award and Chair Stock Award) shall be governed by the terms
and conditions of a restricted stock agreement, substantially in the form set forth as Exhibit C attached hereto, and shall
be subject to all the terms and conditions of the Plan and the 2005 U.S. Stock Option and Incentive Plan (or successor plan thereto).

 

    	 

    	 

    

 

(b) Vesting. Each Annual Stock Award
(and Committee Stock Award, Committee Chair Stock Award and Chair Stock Award) will vest (“vest”) monthly as to 1/12th
the number of shares subject to the award over a period of twelve months from the date of grant, provided that the recipient remains
a director of the Corporation on each such vesting date, or, in the case of a Committee Award, remains a member of the committee
on each such vesting date.

 

12.No Right to Continue as a Director. Neither this
Plan, nor the payment of any amounts hereunder, shall constitute or be evidence of any agreement or understanding, express or implied,
that the Corporation will retain any participant as a director for any period of time.

 

13.No Right to Any Other Compensation. Other than
with respect to Chen Schor, this Plan constitutes the full and complete compensation to an Independent Director for all services
as a director of the Corporation, whether as a member of the Board of Directors, a member of a committee of the Board of Directors,
or as Chairman of the Board of Directors.

 

14.Administration. This Plan shall be administered
by the Board of Directors of the Corporation, whose construction and determinations shall be final.

 

15.Amendment and Termination. This Plan may be amended,
modified or terminated by the Board of Directors at any time.STZ EX 4.9_5.31.2014 10Q

Exhibit 4.9
SUPPLEMENTAL INDENTURE NO. 8 (this “Supplement”), dated as of May 28, 2014, is entered into by and among CONSTELLATION BRANDS, INC., a Delaware corporation (the “Company”), CONSTELLATION MARKETING SERVICES, INC. a Delaware corporation (the “New Guarantor”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION (successor trustee to BNY Midwest Trust Company), as trustee (the “Trustee”).
RECITALS OF THE COMPANY AND THE NEW GUARANTOR
WHEREAS, the Company, the Guarantors and the Trustee have executed and delivered an Indenture, dated as of August 15, 2006 (the “August 2006 Indenture”), as supplemented by a Supplemental Indenture No. 1, dated as of August 15, 2006, with respect to the issuance by the Company of 7.25% Senior Notes due 2016 (the “First Supplemental Indenture”), a Supplemental Indenture No. 4, dated as of December 5, 2007, with respect to the issuance by the Company of 8 3/8% Senior Notes due 2014 (the “Fourth Supplemental Indenture”), and any other supplements and amendments thereto made prior to the date hereof and in effect on the date hereof (the August 2006 Indenture, the First Supplemental Indenture, the Fourth Supplemental Indenture and together with such other supplements and amendments are collectively herein referred to as the “Indenture”);
WHEREAS, the Guarantors guarantee, jointly and severally, the full and punctual payment and performance when due of all Indenture Obligations;
WHEREAS, pursuant to Section 3.4 of each of the First Supplemental Indenture and the Fourth Supplemental Indenture, the New Guarantor is obligated to enter into this Supplement thereby guaranteeing the punctual payment and performance when due of all Indenture Obligations;
WHEREAS, pursuant to Section 8.1 of each of the First Supplemental Indenture and the Fourth Supplemental Indenture, the Company, the New Guarantor and the Trustee may enter into this Supplement without the consent of any Holder;
WHEREAS, the execution and delivery of this Supplement have been duly authorized by resolutions of the respective Boards of Directors of the Company and the New Guarantor; and
WHEREAS, all conditions and requirements necessary to make this Supplement valid and binding upon the Company and the New Guarantor, and enforceable against the Company and the New Guarantor in accordance with its terms, have been performed and fulfilled.
NOW, THEREFORE, in consideration of the above premises, each of the parties hereto agrees, for the benefit of the others and for the equal and proportionate benefit of the Holders of the Notes, as follows:
ARTICLE ONE
THE NEW GUARANTEE
Section 1.01.  For value received, the New Guarantor hereby absolutely, unconditionally and irrevocably guarantees (the “New Guarantee”), jointly and severally among itself and the 

- 2 -
Guarantors, to the Trustee and the Holders, as if the New Guarantor was the principal debtor, the punctual payment and performance when due of all Indenture Obligations (which for purposes of the New Guarantee shall also be deemed to include all commissions, fees, charges, costs and other expenses (including reasonable legal fees and disbursements of one counsel) arising out of or incurred by the Trustee or the Holders in connection with the enforcement of this New Guarantee).  The agreements made and obligations assumed hereunder by the New Guarantor shall constitute and shall be deemed to constitute a Guarantee under the Indenture and for all purposes of the Indenture, and the New Guarantor shall be considered a Guarantor for all purposes of the Indenture as if the New Guarantor was originally named therein as a Guarantor.
Section 1.02.  The New Guarantor shall be released upon the occurrence of the events as provided in the Indenture.
Section 1.03.  In accordance with the terms of the Indenture, the New Guarantor hereby waives all rights of subrogation or contribution arising by reason of any payment by it pursuant to its Guarantee under the Indenture.
ARTICLE TWO
MISCELLANEOUS
Section 2.01.  Except as otherwise expressly provided or unless the context otherwise requires, all terms used herein which are defined in the Indenture shall have the meanings assigned to them in the Indenture.  Except as supplemented hereby, the Indenture (including the Guarantees incorporated therein) and the Notes issued pursuant thereto are in all respects ratified and confirmed and all the terms and provisions thereof shall remain in full force and effect.
Section 2.02.    This Supplement shall be effective as of the close of business on May 28, 2014.
Section 2.03.    The recitals contained herein shall be taken as the statements of the Company and the New Guarantor, and the Trustee assumes no responsibility for their correctness.  The Trustee makes no representations as to the validity or sufficiency of this Supplement.
Section 2.04.    This Supplement shall be governed by and construed in accordance with the laws of the jurisdiction which govern the Indenture and its construction.
Section 2.05.  This Supplement may be executed in any number of counterparts each of which shall be an original, but such counterparts shall together constitute but one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have caused this Supplement to be duly executed and, in the case of the Company and the New Guarantor, attested by an Assistant Secretary, all as of the day and year first above written.
CONSTELLATION BRANDS, INC.
By:  /s/ David E. Klein    
Name:    David E. Klein
Title:    Senior Vice President and Treasurer
Attest:
/s/ Barbara J. LaVerdi    
Name:    Barbara J. LaVerdi
Title:    Assistant Secretary

[Signature Page to Supplemental Indenture No. 8]

CONSTELLATION MARKETING 
SERVICES, INC.
By:  /s/ David E. Klein    
Name:    David E. Klein
Title:    Vice President and Assistant Treasurer
Attest:
  /s/ Barbara J. LaVerdi    
Name:    Barbara J. LaVerdi
Title:    Assistant Secretary

[Signature Page to Supplemental Indenture No. 8]

THE BANK OF NEW YORK MELLON
TRUST COMPANY, NATIONAL
ASSOCIATION
By:  /s/ Michael Countryman    
Name:    Michael Countryman
Title:    Vice President

[Signature Page to Supplemental Indenture No. 8]

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