Document:

Retention Agreement, dated September 25, 2008

 Exhibit 10.1 
 

 
 *****Confidential***** 
  

	TO:	Suzanne Colvin 

  

	DATE:	September 25, 2008 

  

	SUBJECT:	Retention Bonus Program 

 Because your unique talent and skills are
highly valued during this critical time period, you have been selected to receive a retention bonus opportunity, subject to the terms and conditions outlined in this letter. We recognize your value to this business transition and would like to
demonstrate our commitment to you at this transitional time. 
 Please review the eligibility
requirements of your retention bonus opportunity below. To confirm your understanding of this opportunity, please sign this letter and return your signed copy to Sherry Meidinger by hand or via fax at 310 281 5125 by Monday, September 22nd. As this opportunity has not been extended to all employees, please do not discuss it with other employees.

 Bonus Amount 
 Subject to your satisfaction of
the eligibility requirements described below, your retention bonus opportunity is $80,000 payable to you in two equal 50% installments on June 1, 2009 ($40,000) and June 1, 2010 ($40,000) (each, a “vesting date”). Each payment will be made
on or not later than ten (10) days after reaching the corresponding vesting date and will be subject to applicable federal, state, and local tax withholding requirements. 
 Eligibility 
 You will be eligible to receive the portion of your retention bonus opportunity corresponding to a
vesting date only if you satisfy all of the following conditions: 
  

	 	•	 	 From now through that vesting date you must maintain an overall performance rating of Meets Expectations. During this period, you agree to provide full support to
all transition activities as defined by management. Those activities may include but are not limited to support of existing operations, participating in planning and implementation of transition strategies, supporting Napster’s key initiatives
and other activities as defined by management. 

	 	•	 	 You do not communicate this opportunity to any Napster employees or to any other person (other than your spouse and/or tax advisor, who also agree to hold this
information in confidence, and other than executive officers of Best Buy or Napster). 

	 	•	 	 Except as expressly provided below, you must be employed by Napster, Best Buy, or any Best Buy affiliate on that vesting date. A transfer of employment from Napster
to Best Buy or a Best Buy affiliate will not impact your eligibility for this retention bonus. 

 You will also be entitled to receive any
portion of your retention bonus that has not otherwise been earned if, before the applicable vesting date, your position is eliminated by Napster, Best Buy or any Best Buy affiliate, you are disabled and unable to perform work with or without a
reasonable accommodation, or you die. In such circumstances, any unpaid portion of your 
  
 The signed document should be placed in the employer’s personnel file. 

 retention bonus will be paid in full on or within ten (10) days after your employment terminates. If your employment
terminates for any other reason before a vesting date, any remaining amount of the bonus will not be paid. 
 You are not obligated to remain employed with
Napster nor is Napster obligated to retain you as an employee for any particular period of time. This letter does not affect your status as an employee at will. You and Napster may terminate the employment relationship at any time with or without a
reason, unless prohibited by law. 
 Thank you for your hard work and contributions to the success of Napster. We look forward to your continued
contributions. 
 /s/  CHRIS
GOROG                                       
  
 Chris Gorog 
 Chief Executive Officer 
 I ACKNOWLEDGE
THAT I HAVE RECEIVED AND UNDERSTAND THE ABOVE 
 INFORMATION: 
  

			
	Suzanne Colvin	    	 9-16-08

	 Employee Name (Please Print)
	    	Date Signed
		
	Interim CFO	    	 
	 Employee Title
	    	 
		
	/s/ Suzanne Colvin	    	 
	 Employee SignatureForm of pSivida Corp. Nonstatutory Stock Options

 Exhibit 10.36 
 Nonstatutory Stock Option 
 Granted Under pSivida Corp. 2008 Incentive Plan 
  

	1.	Grant of Option. 

 This certificate evidences a
nonstatutory stock option (this “Stock Option”) granted by pSivida Corp., a Delaware corporation (the “Company”), on
                     (the “Date of Grant”)
to                      (the “Participant”) pursuant to the Company’s 2008 Incentive Plan (as from time to time in effect, the
“Plan”). Under this Stock Option, the Participant may purchase, in whole or in part, on the terms herein provided, a total of              shares of common stock of the Company
(the “Shares”) at              per Share, which is not less than the fair market value of a Share on the Date of Grant. The latest date on which this Stock Option, or any part
thereof, may be exercised is 5:00 P.M. Eastern Time on                      (the “Final Exercise Date”). The Stock Option evidenced by this
certificate is intended to be, and is hereby designated, a nonstatutory option, meaning an option that does not qualify as an incentive stock option as defined in section 422 of the Internal Revenue Code of 1986, as amended from time to time
(the “Code”). 
  

	2.	Vesting. 

 (a) During Employment. This Stock
Option will vest and become exercisable with respect to 25% of the Shares on each of the first, second, third and fourth anniversaries of the Grant Date; provided that, and subject to Section 2(c) below, upon a cessation of the
Participant’s Employment by reason of an involuntary termination without Cause (as defined in the Employment Agreement between the Company and the Participant dated
                     (“Employment Agreement”) (“Cause”)) or a voluntary termination for Good Cause (as defined in the Employment
Agreement (“Good Cause”)) any unvested portion of this Stock Option that would have vested as of the first anniversary of the cessation of the Participant’s Employment had the Participant continued in Employment through such first
anniversary will vest immediately prior to such cessation of Employment. 
 (b) Termination of Employment. Notwithstanding the
foregoing, and subject to Section 2(c) below, the following rules will apply if a Participant’s Employment ceases regardless of the circumstances: automatically and immediately upon the cessation of Employment, this Stock Option will cease
to be exercisable and will terminate, except that: 
 (I) such portion, if any, of this Stock Option as is held by the Participant immediately
prior to the cessation of the Participant’s Employment for any reason other than for Cause or as a result of Participant’s death and as is then exercisable (after giving effect to any accelerated vesting owing to a cessation of Employment
by reason of an involuntary termination without Cause or a voluntary termination for Good Cause pursuant to Section 2(a) above), will remain exercisable until (i) 5:00 P.M. Eastern Time on the last day of the three-month period commencing
on the date of such cessation of Employment or (ii) the Final Exercise Date, if earlier, and will thereupon terminate; 
 (II) such
portion, if any, of this Stock Option as is held by the Participant immediately prior to the Participant’s death and as is then exercisable, will remain exercisable until (i) 5:00 P.M. Eastern Time on the first anniversary of the
Participant’s death or (ii) the Final Exercise Date, if earlier, and will thereupon terminate; and 
 (III) such portion, if any, of
this Stock Option as is held by the Participant immediately prior to the cessation of the Participant’s Employment for Cause will immediately terminate. 
 (c) Change of Control. Notwithstanding any other provision of this Section 2 to the contrary, if a Change of Control occurs, whether or not the Change of Control also constitutes a Covered Transaction, and
within the 24 months thereafter there is a cessation of the Participant’s Employment by reason of an involuntary termination without Cause or a voluntary termination for Good Cause, the provisions of this Section 2(c) shall apply:

 (I) This Stock Option, if it survives the Change of Control, including any stock option granted in substitution for this Stock Option in
connection with the Change of Control, shall automatically vest and become 

  

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exercisable immediately prior to such cessation of Employment and will remain exercisable until (i) 5:00 P.M. Eastern Time on the first anniversary of
the date of such cessation of Employment or (ii) the Final Exercise Date, if earlier, and will thereupon terminate; provided that, in the event of the Participant’s death during such extended exercise period following a Change of
Control, any portion of this Stock Option as is held by the Participant immediately prior to the Participant’s death will remain exercisable until (i) 5:00 P.M. Eastern Time on the first anniversary of the Participant’s death or
(ii) the Final Exercise Date, if earlier, and will thereupon terminate. 
 (II) Any and all performance or other vesting conditions
imposed pursuant to Section 7(a)(5) of the Plan with respect to any stock, cash or other property delivered in exchange for this Stock Option in connection with the Change of Control shall automatically be deemed to have been satisfied
immediately prior to such cessation of Employment. 
 (III) For purposes of this Section 2(c), “Employment” shall be deemed to
include employment with any successor to the Company’s business or assets in connection with a Change of Control. 
 (IV) For purposes of
this Stock Option, “Change of Control” shall mean: 
 (A) the acquisition by any Person (defined as any individual, entity or group
(within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act of 1934, as amended (“Exchange Act”))) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of
35% or more of the common stock of the Company; provided, however, that for purposes of this subsection (a), an acquisition shall not constitute a Change of Control if it is: (i) either by or directly from the Company, or by an entity
controlled by the Company, (ii) by any employee benefit plan, including any related trust, sponsored or maintained by the Company or an entity controlled by the Company (“Benefit Plan”), or (iii) by an entity pursuant to a
transaction that complies with the clauses (i), (ii) and (iii) of subsection (C) below; or 
 (B) individuals who, as of the Date of Grant, constitute the Board (together with the individuals identified in the proviso to this Section 2(c)(IV)(B), the “Incumbent Board”) cease for any reason to
constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the Date of Grant whose election, or nomination for election by the Company’s stockholders, was approved by at least a
majority of the directors then comprising the Incumbent Board shall be treated as a member of the Incumbent Board unless he or she assumed office as a result of an actual or threatened election contest with respect to the election or removal of
directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 
 (C)
consummation of a reorganization, merger or consolidation involving the Company, or a sale or other disposition of all or substantially all of the assets of the Company, (a “transaction”) in each case unless, following such transaction,
(i) all or substantially all of the Persons who were the beneficial owners of the common stock of the Company outstanding immediately prior to such transaction beneficially own, directly or indirectly, more than 50% of the combined voting power
of the then outstanding voting securities of the entity resulting from such transaction (including, without limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either
directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such transaction, of the outstanding common stock of the Company, (ii) no Person (excluding any entity or wholly owned
subsidiary of any entity resulting from such transaction or any Benefit Plan of the Company or such entity or wholly owned subsidiary of such entity resulting from such transaction) beneficially owns, directly or indirectly, 35% or more of the
combined voting power of the then outstanding voting securities of such entity except to the extent that such ownership existed prior to the transaction and (iii) at least a majority of the members of the board of directors or similar board of
the entity resulting from such transaction were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such transaction; or 
 (D) approval by the stockholders of the Company of a liquidation or dissolution of the Company. 
 (d) Notwithstanding the foregoing provisions of this Section 2, this Stock Option shall not vest or become eligible to vest on any date specified
above unless the Participant has continuously been, since the Grant Date 

  

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until the date immediately prior to such termination of Employment, Employed by the Company, its Affiliates, its subsidiaries, or, following a Change of
Control, any successor to the Company’s business or assets in connection with the Change of Control. 
  

	3.	Exercise of Stock Option. 

 Each election to
exercise this Stock Option shall be in writing, signed by the Participant or the Participant’s executor, administrator, or legally appointed representative (in the event of the Participant’s incapacity) or the person or persons to whom
this Stock Option is transferred by will or the applicable laws of descent and distribution (collectively, the “Option Holder”), and received by the Company at its principal office, accompanied by this certificate and payment in full as
provided in the Plan. Subject to the further terms and conditions provided in the Plan, the purchase price may be paid as follows: (i) by delivery of cash or check acceptable to the Administrator; or (ii) through a broker-assisted exercise
program acceptable to the Administrator; or (iii) by any other means acceptable to the Administrator, or (iv) by any combination of the foregoing means of exercise. In the event that this Stock Option is exercised by an Option Holder other
than the Participant, the Company will be under no obligation to deliver Shares hereunder unless and until it is satisfied as to the authority of the Option Holder to exercise this Stock Option. 
  

	4.	Withholding. 

 Except as otherwise determined by the
Administrator, this Stock Option may not be exercised unless the person exercising this Stock Option timely remits to the Company, in cash, all amounts required to be withheld upon exercise (all as determined by the Administrator) or makes other
arrangements satisfactory to the Administrator for the payment of such taxes. 
  

	5.	Nontransferability of Stock Option. 

 This Stock
Option is not transferable by the Participant otherwise than by will or the laws of descent and distribution, and is exercisable during the Participant’s lifetime only by the Participant (or in the event of the Participant’s incapacity,
the person or persons legally appointed to act on the Participant’s behalf). 
  

	6.	Provisions of the Plan. 

 This Stock Option is
subject to the provisions of the Plan, which are incorporated herein by reference. A copy of the Plan as in effect on the date of the grant of this Stock Option has been furnished to the Participant. By accepting this Stock Option, the Participant
agrees to be bound by the terms of the Plan and this certificate. All initially capitalized terms used herein will have the meaning specified in the Plan, unless another meaning is specified herein. 
  

	7.	Other Agreements. 

 The Company and Participant
agree, in consideration of the grant of this Stock Option, and other good and valuable consideration, the receipt of which is mutually acknowledged, that the provisions of Section 2 shall supersede section      of the
Employment Agreement or the provisions of any other agreement between the Company and Participant regarding the vesting and exercise of this Stock Option following a cessation of the Participant’s Employment by reason of an involuntary
termination without Cause or a voluntary termination for Good Cause. 
  

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 IN WITNESS WHEREOF, the Company has caused this instrument to be executed by its duly authorized officer.

  

			
	 pSivida Corp.

		
	 By
	 	  

 Dated:
                    
  

			
	 Acknowledged and agreed:

		
		 	  

 Dated:
                     
  

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