Document:

exv10w2

 

Exhibit 10.2

Amendment to F5 Networks, Inc. 2005 Equity Incentive Plan Award Agreement

This Agreement, dated as of March 8, 2006, amends the specific F5 Networks, Inc. 2005 Equity
Incentive Plan Award Agreements (“Award Agreement”) described below between Andy Reinland and F5
Networks, Inc. as follows:

The Award Agreements associated with the Notices of Grant of Stock Units dated July 1, 2005 for
15,000 RSUs and September 30, 2005 for 5,000 RSUs are amended to add the following as Section 2.3:

     Accelerated Vesting. Notwithstanding the vesting provisions set forth in the Grant
Notice and Section 11 of the Plan, in the event of a change in control transaction as described in
Section 11 of the Plan, the vesting of 100% of the shares of Common Stock subject to the Award (and
if applicable, the time during which the Award may be exercised or settled) shall be accelerated in
full, and the Award shall terminate if not exercised or settled at or prior to the closing of the
change in control transaction.

All capitalized terms used in this Agreement have the same meaning as those used in the Award
Agreement.

In all other respects the Notice of Grant of Stock Units and the Award Agreements will remain
unchanged, and in full force and effect.

Agreed:

F5 Networks, Inc.

	 	 	 	 	 
	 	 	 
	/s/  JOANN REITER
 	 	 
	Joann Reiter 	 	 
	Senior Vice President and General Counsel 	 	 
	 

	 	 	 	 	 
	 	 	 
	/s/  ANDY REINLAND
 	 	 
	Andy Reinland<PAGE>
                                                                  EXHIBIT 10(DD)

                              AGREEMENT AND RELEASE

This Agreement is made and entered into this 27th day of December 2005 between
VF Corporation (the "Company") and John P. Schamberger ("Employee");

WHEREAS, Employee is currently employed by the Company in the position of Vice
President-Cross Coalition in an at-will employment relationship; and

WHEREAS, the Parties agree that Employee will separate from his employment with
the Company on March 31, 2006.

NOW, THEREFORE, in consideration of the mutual agreements and promises set forth
within this Agreement, the Company and Employee voluntarily agree to the
following terms, each of which is material.

     1.   CASH CONSIDERATION. As valuable and sufficient consideration for each
          and all of the Employee's obligations and promises set forth below,
          the Company will provide the following:

          1.1  The Company shall pay Employee $340,350.00 on September 31, 2006
               and $56,725.00 (salary/car allowance) per month for the period
               beginning October 1, 2006 and running through the Final Payment
               Date (hereinafter defined), subject to applicable federal, state
               and local taxes. In the event of the death of Employee before the
               Final Payment Date, the balance of such payments shall be paid to
               Employee's estate. Except as otherwise provided in Section 3.1 of
               this Agreement, if Employee remains in compliance with his
               obligations pursuant to this Agreement, payments made pursuant to
               this section will not be rescinded, regardless of future
               earnings. "Final Payment Date" means March 31, 2008, or, if
               earlier, the date payments cease pursuant to Section 3 hereof.

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Agreement and Release for John P. Schamberger

          1.2  Employee shall be eligible to receive a 2005 bonus under the
               Company's Executive Incentive Compensation Plan at the time 2005
               bonuses are awarded to other executives of the Company in 2006.
               Employee will not be eligible to receive a 2006 bonus. Employee
               will not receive any equity awards in 2006 or thereafter.

In accordance with and subject to the provisions of the Company's 1996 Stock
Compensation Plan (the "Stock Compensation Plan"), Employee will be eligible to
exercise outstanding stock options, which are otherwise exercisable in
accordance with the Stock Compensation Plan, up to and including the Final
Payment Date. If employee elects to retire under the VF Pension Plan prior to
the Final Payment Date, stock options may be exercised through March 31, 2009.

          1.3  In accordance with and subject to the terms of the Mid-Term Plan
               established under the Company's 1996 Stock Compensation Plan,
               Employee is eligible to receive payout with respect to the
               2003-2005 cycle under the Mid-Term Plan at the time the payout is
               made to other eligible executives.

          1.4  In accordance with and subject to the terms of the 2004 Mid-Term
               Plan established under the Company's 1996 Stock Compensation
               Plan, Employee is eligible to receive a pro rata payout for the
               2004-2006 cycle and a pro rata payout for the 2005-2007 cycle,
               payable at the time the payout is delivered to other eligible
               executives. Such pro rata payout shall be determined from the
               beginning of the cycle to the earlier of the end of the cycle or
               the Final Payment Date.

          1.5  The Parties agree that the Company has no prior legal obligation
               to make the payments or provide the benefits agreed to in Section
               1.1 through 1.5

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     2.   OTHER EMPLOYEE BENEFITS. As valuable and sufficient consideration for
          each and all of the Employee's obligations and promises set forth
          below, the Company will also provide the following:

          2.1  Employee shall be eligible for continued coverage under the
               Company's medical insurance plan at active employee rates from
               April 1, 2006 through the Final Payment Date.

          2.2  Employee shall be eligible for Company sponsored financial
               counseling through the Final Payment Date.

          2.3  Employee will not be eligible to make contributions to the VF
               Executive Deferred Savings Plan II after March 31, 2006.

          2.4  The Parties agree that the Company has no prior legal obligation
               to make the payments or provide the benefits agreed to in Section
               2.1 through 2.3.

     3.   EMPLOYEE'S REPRESENTATIONS. Employee hereby represents and warrants to
          and agrees with the Company as follows, with full knowledge that the
          Company intends to rely thereon:

          3.1  Covenant not to Compete.

               a)   From the date of this Agreement through March 31, 2008,
                    Employee agrees not to serve as an employee, director,
                    consultant or advisor to any of the following companies or
                    their subsidiaries or affiliates: Sara Lee Corporation, Levi
                    Strauss & Co., NIKE Inc, Columbia Sportswear Company, The
                    Timberland Company, Wal*Mart, Target, Kohls, J.C. Penney.
                    Employee acknowledges and agrees that this covenant serves

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                    the legitimate business interests of the Company to protect
                    its confidential information, trade secrets, good will and
                    customer contacts. Employee further acknowledges and agrees
                    that in the event that he breaches this covenant not to
                    compete the damage to the Company would be irreparable and
                    that money damages will not adequately compensate the
                    Company for its injuries. Accordingly, Employee agrees that
                    in the event he breaches this covenant not to compete the
                    Company will be entitled to an immediate order from a court
                    of competent jurisdiction commanding Employee to cease his
                    violation and enjoining Employee from further violation of
                    the covenant not to compete. Employee further agrees that
                    the Company would be entitled to recovery of its cost and
                    attorney fees incurred as a result of the violation.

                    In the event of a breach of this Section 3.1 (a), the
                    Company shall have no further obligation under Sections 1
                    and 2 above. In the event that injunctive relief is
                    requested by and granted the Company, the Company shall be
                    obligated under Sections 1 and 2 for the period of time
                    during which the injunction is in effect up to and including
                    March 31, 2008.

               b)   Employee agrees to advise the Chief Executive Officer of the
                    Company in writing if he seeks to be hired prior to March
                    31, 2008 as an employee, director, consultant or advisor of
                    any company significantly engaged in the apparel business
                    not listed in Section 3.1. In the event of such hire without
                    the prior written consent of the Company, the Final Payment
                    Date shall be the date of such hiring.

          3.2  Confidential Information. Employee acknowledges that as an
               employee of the Company he has had access to and may be in
               possession of non-public information about the Company and its
               business plans and

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               strategies. Therefore, Employee and each other person
               controlling, controlled by or under common control with Employee,
               shall not disclose directly or indirectly to any person or entity
               outside the employ of the Company, without the express written
               authorization of the Company, unless required by subpoena of a
               court of law, any business plans, customer list, pricing
               strategies, customer files and records, any proprietary data or
               trade secrets, or any other confidential information of the
               Company, or any financial information about the Company or its
               business not in the public domain. For purposes of this Section,
               the term "Company" shall include the Company and its
               subsidiaries, related corporations and affiliates.

          3.3  Non-disparagement. Employee agrees never to disparage or make
               false statements about the Company, its predecessors, successors,
               or affiliates, or any employees or agents of the Company.

          3.4  No Contact. From April 1, 2006 through March 31, 2008, the
               Employee agrees not to initiate or maintain contact with any
               officer, director, or employee of the Company or its affiliates
               regarding the Company's or any affiliate's business, prospects,
               operations, or finances, except with the express written
               permission of the Company, other than as initiated by the
               Company.

          3.5  No Solicitation. From April 1, 2006 through March 31, 2008,
               Employee will not, directly or indirectly, for himself or on
               behalf of any third party solicit for employment or otherwise
               cause any employee or officer of the Company or any of its
               subsidiaries to terminate his or her employment relationship with
               the Company or any of its subsidiaries.

          3.6  Return of Company Property. Employee shall promptly return any
               and all items in his possession which are owned by or otherwise
               the

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               property of the Company or its affiliates, including the Company
               credit card, cell phone, laptop computer, and Blackberry.

          3.7  Board Resignation. Employee hereby resigns, effective April 1,
               2006, from all positions as an officer or director of the
               Company, its subsidiaries and affiliates, to which he has been
               elected or appointed.

          3.8  Confidentiality. Employee will not reveal the terms and
               understandings contained in this Agreement other than to his
               legal and financial advisors, unless he becomes legally compelled
               to do so, provided, however, that, prior to any such disclosure,
               Employee shall give prompt written notice to the Company so that
               the Company may take any action that it deems necessary or
               appropriate to seek a protective order or other appropriate
               remedy. These restrictions do not apply to Sections 3.1 through
               3.6.

          3.9  Remedies for Breach by Employee. Employee understands and agrees
               that the Company's obligation to perform under this Agreement is
               conditioned upon Employee's covenants and promises to the Company
               as set forth herein. In the event Employee breaches any such
               covenants and promises, or causes any such covenants or promises
               to be breached, Employee acknowledges and agrees that the
               Company's obligations to perform under this Agreement shall
               automatically terminate and the Company shall have no further
               liability or obligation to Employee, or alternatively, that the
               Company may seek injunctive relief to enforce the provisions of
               this Agreement. Employee acknowledges and agrees that in the
               event that he materially breaches any provision of this
               Agreement, the damage to the Company would be irreparable and
               that money damages will not adequately compensate the Company for
               its injuries.

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               Accordingly, Employee agrees that in the event of a material
               breach, the Company will be entitled to an immediate order from a
               court of competent jurisdiction commanding Employee to cease his
               violation and enjoining Employee from further violation. Employee
               further agrees that the Company would be entitled to recovery of
               its cost and attorney fees incurred as a result of the violation.

               The remedies available to the Company as set out is this section
               are not intended to be exclusive of any other remedies to which
               the Company may be entitled at law or equity, (including but not
               limited to monetary damages, specific performance, and other
               injunctive relief), due to breach or threatened breach of any
               provision of this Agreement.

     4.   RELEASE.

          4.1  IN PARTIAL CONSIDERATION OF THE PERFORMANCE BY THE COMPANY OF ITS
               OBLIGATIONS UNDER THIS AGREEMENT AND OTHER GOOD AND VALUABLE
               CONSIDERATION, EMPLOYEE DOES HEREBY FOR HIMSELF, HIS HEIRS,
               EXECUTORS, ADMINISTRATORS AND ASSIGNS, FOREVER RELEASE, REMISE
               AND DISCHARGE THE COMPANY, ITS OFFICERS, DIRECTORS, PARENTS,
               SUBSIDIARIES, AFFILIATES AND THEIR OFFICERS AND DIRECTORS AND
               THEIR SUCCESSORS AND ASSIGNS, FROM AND AGAINST ANY CLAIMS AND
               CAUSES OF ACTION WHICH HE HAS, HAD OR MAY HAVE EVER HAD,
               INCLUDING, BUT NOT LIMITED TO, ANY CLAIMS WHICH EMPLOYEE HAS,
               HAD, OR MAY HAVE HAD ARISING OUT OF HIS EMPLOYMENT WITH THE
               COMPANY OR OTHERWISE RELATING TO OR ARISING OUT OF ANY
               RELATIONSHIP OR STATUS HE MAY HAVE HAD IN THE PAST WITH THE
               COMPANY, OR ANY OF ITS AFFILIATES OR SUBSIDIARIES. THE PARTIES
               SPECIFICALLY CONTEMPLATE THAT THIS RELEASE COVERS ANY POTENTIAL
               CLAIM BY EMPLOYEE OF AGE DISCRIMINATION OR EMPLOYMENT
               DISCRIMINATION AGAINST THE COMPANY UNDER THE AGE DISCRIMINATION
               IN EMPLOYMENT ACT, THE CIVIL RIGHTS ACT OF 1964, AND ANY OTHER
               FEDERAL, STATE OR

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               LOCAL LAWS OR ORDINANCES, AND ANY COMMON LAW CLAIMS UNDER TORT,
               CONTRACT OR ANY OTHER THEORIES NOW OR HEREAFTER RECOGNIZED.

          4.2  Employee agrees that no other person (including but not limited
               to attorneys, heirs, executors, administrators, successors, and
               assigns) may assert any claim that he has or might have against
               the Company and further agrees that he will fully cooperate with
               the Company in seeking dismissal of any such claim that might be
               raised on his behalf.

          4.3  The Parties agree that this Agreement may be treated as a
               complete defense to any legal, equitable, or administrative
               action that may be brought, instituted, or taken by Employee, or
               on his behalf, against the Company and shall forever be a
               complete bar to the commencement or prosecution of any claim,
               demand, lawsuit, charge, or other legal proceeding of any kind
               against the Company, any related companies and subsidiaries, and
               the directors, officers, employees, and agents of them, including
               any successors and assigns, relating to employment with the
               Company and/or the termination of employment with the Company.

          4.4  The release contained in Section 4.1 hereof is not intended to
               relieve the Company of its obligations under this Agreement to
               make the payments and provide the benefits under Sections 1 and 2
               hereof, but is otherwise fully effective in accordance with its
               terms as to all other rights, claims or causes of action which
               Employee has, had or may have had as set forth in Section 4.1
               hereof.

          4.5  Employee received this Agreement on December 9, 2005 and had at
               least forty-five (45) days to consider its terms and conditions,
               including without limitation, the release provisions of Section
               4.1. By receipt of this proposed Agreement and Release, Employee
               was advised by the

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               Company to consult with an attorney of Employee's choice before
               signing this Agreement.

          4.6  Employee's execution of this Agreement is knowing and voluntary,
               without duress and after an opportunity to consult with his
               attorney.

     5.   WAIVER, DISCHARGE, ETC. This Agreement may not be released,
          discharged, abandoned, changed or modified in any manner, except by an
          instrument in writing signed on behalf of each of the parties hereto.
          The failure of any party hereto to enforce at any time any of the
          provisions of this Agreement shall in no way be construed as a waiver
          of any such provision, nor in any way to affect the validity of this
          Agreement or any part thereof or the right of any party thereafter to
          enforce each and every such provision. No waiver of any breach of this
          Agreement shall be held to be a waiver of any other or subsequent
          breach.

     6.   RIGHTS OF PERSONS NOT PARTIES. Nothing contained in this Agreement
          shall be deemed to create rights in persons not parties hereto, other
          than the personal representatives or successors of the parties hereto.

     7.   ENTIRE AGREEMENT. This Agreement constitutes the entire understanding
          between the parties, and no other statements, representations or
          understandings form a basis for the mutual promises contained herein,
          and this Agreement supersedes any other agreements between the parties
          with respect to the subject matter hereof.

     8.   GOVERNING LAW. This Agreement shall be governed by and construed in
          accordance with the laws of North Carolina without regard to its
          conflict of laws principles.

     9.   VENUE. The Company and Employee agree that any dispute arising out of
          this Agreement shall be subject to the exclusive jurisdiction of both
          the state and federal courts in North Carolina. For that purpose,
          Employee irrevocably submits to the jurisdiction of the state and
          federal courts of Guilford County, North Carolina.

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     10.  SUCCESSORS, ASSIGNS, AND REPRESENTATIVES. This Agreement shall inure
          to and be binding upon the parties hereto, their respective heirs,
          legal representatives, successors, and assigns.

     11.  PARTIAL INVALIDITY. The Parties agree that the provisions of this
          Agreement shall be deemed severable and that the invalidity or
          unenforceability of any portion or any provision shall not affect the
          validity or enforceability of the other portions or provisions. Such
          provisions shall be appropriately limited and given effect to the
          extent that they may be enforceable. The Parties further agree that in
          the event any provision of this Agreement shall be declared invalid
          and unenforceable by a court of competent jurisdiction that the entire
          Agreement may be declared voided, ab initio, at the election of the
          Company.

     12.  REVOCATION. Employee understands that this Agreement may be revoked by
          Employee within seven (7) days after the signing of the Agreement. To
          revoke the Agreement, Employee understands that he must notify in
          writing that he no longer wishes to be bound by this Agreement and
          desires to revoke the Agreement immediately. Any revocation should be
          sent in writing to Susan L. Williams, Vice President, Human Resources,
          VF Corporation, 105 Corporate Center Blvd., Greensboro, NC 27408. This
          Agreement shall not become effective and enforceable until seven (7)
          days after it has been signed by Employee.

     13.  EMPLOYEE'S ACKNOWLEDGEMENTS.

          13.1 EMPLOYEE AFFIRMS THAT HE HAS CAREFULLY READ THIS ENTIRE
               AGREEMENT. HE ATTESTS THAT HE POSSESSES SUFFICIENT EDUCATION
               AND/OR EXPERIENCE TO FULLY UNDERSTAND THE EXTENT AND IMPACT OF
               ITS PROVISIONS.

          13.2 EMPLOYEE ATTESTS THAT HE HAS BEEN AFFORDED THE OPPORTUNITY TO
               CONSIDER THIS AGREEMENT FOR A PERIOD OF FORTY-FIVE (45) DAYS.

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               EMPLOYEE FURTHER ATTESTS THAT HE HAS BEEN ADVISED BY THE COMPANY
               TO DISCUSS THIS AGREEMENT WITH AN ATTORNEY OF CHOICE.

          13.3 EMPLOYEE AFFIRMS THAT HE IS FULLY COMPETENT TO EXECUTE THIS
               AGREEMENT AND THAT HE DOES SO VOLUNTARILY AND WITHOUT ANY
               COERCION, UNDUE INFLUENCE, THREAT, OR INTIMIDATION OF ANY KIND OR
               TYPE.

          13.4 EMPLOYEE ACKNOWLEDGES THAT HE HAS RECEIVED A DOCUMENT IDENTIFYING
               THE JOB TITLES AND AGES OF EACH EMPLOYEE IN THE DECISIONAL UNIT,
               WHETHER OR NOT EACH EMPLOYEE WAS SELECTED FOR TERMINATION. EACH
               EMPLOYEE TERMINATED IN THIS REORGANIZATION IS ELIGIBLE FOR
               SEVERANCE AND RELATED BENEFITS.

     14.  COMPLIANCE WITH SECTION 409A OF THE INTERNAL REVENUE CODE. The Parties
          agree that any payments to be made to Employee hereunder or to be made
          pursuant to any other plans maintained by the Company in which
          Employee is a participant, such as the VF Supplemental Executive
          Retirement Plan, and the VF Executive Deferred Savings Plans that are
          subject to the requirements of Section 409A of the Internal Revenue
          Code, will be made in a manner intended to comply with the provisions
          of Section 409A to avoid, to the extent possible, the imposition of
          any excise or other penalty tax on the Employee or the Company and
          that the provisions of this Agreement and such plans will be
          interpreted accordingly. .

THE UNDERSIGNED HEREBY STATE THAT THEY HAVE CAREFULLY READ THE FOREGOING
AGREEMENT AND RELEASE AND KNOW THE CONTENTS THEREOF AND SIGN THE SAME OF THEIR
OWN FREE ACT.

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IN WITNESS WHEREOF, each of the parties hereto has executed this Agreement as of
the dates set forth below.

VF Corporation                          EMPLOYEE:

By: /s/ Susan L. Williams               /s/ John P. Schamberger
    ---------------------------------   ----------------------------------------
    Susan L. Williams                   John P. Schamberger
    Vice President, Human Resources

Date: January 11, 2006                  Date: January 11, 2006
      ----------------                        ----------------

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