Document:

Description of the Executive Management Bonus Plan

 Exhibit 10.2 

Description of the Management Bonus Plan 

Annual incentive pay in the form of a cash bonus is paid to executive officers (other than the Chief Executive Officer) of Cullen/Frost
Bankers, Inc. (“Cullen/Frost”) to recognize achievement of financial targets on the overall corporate level and other qualitative factors of the Executive Management Bonus Plan. 

Annually, a bonus pool is generated based on the financial performance of Cullen/Frost versus the budgeted expectations for the year. The
bonus pool is funded at target if Cullen/Frost’s financial performance meets budget. The bonus pool is funded at a level below target if Cullen/Frost’s financial performance falls below budget. A minimum percentage of budget must be
achieved before the bonus pool is funded, and no bonus payments are made unless Cullen/Frost attains this minimum threshold. Additional bonus dollars may be generated if Cullen/Frost achieves financial performance above budget. 

The Compensation and Benefits Committee (the “Committee”) of the Board of Directors approves the corporate and individual
objectives as well as individual payment targets, which are expressed as a percentage of a participant’s base salary earnings for the year. There is not a stated cap on this plan. No specific weighting is targeted for annual incentive pay as a
percentage of a participant’s total compensation. 
 The individual targets are not formula driven. For executive officers
participating in the Executive Management Bonus Plan, the targets are set at the discretion of the Chief Executive Officer and must be approved by the Committee. The bonus targets are based on external market data provided by Cullen/Frost’s
compensation consultant, internal equity considerations, and strategic objectives for corporate performance. The targets are reviewed annually at the fall meeting of the Committee and altered as deemed appropriate. 

The primary criteria for bonus payments for executive officers typically include: 

 

	 	•	 	 Performance versus budget for the Cullen/Frost; 

  

	 	•	 	 Contribution to the teamwork, leadership and other qualitative factors contributing to the success of the company; and 

 

	 	•	 	 Other factors, which may include consideration of any extenuating circumstances that contribute to individual performance.

 Payment amounts for the participants are made based on recommendations of the Chief Executive Officer and
approval of the Committee. Bonus amounts in excess of, or below target may be paid at the discretion of the Chief Executive Officer with the approval of the Committee. Before the Chief Executive Officer makes recommendations to the Committee
regarding annual bonus payments for participants, the Chief Executive Officer discusses these issues with Cullen/Frost’s compensation consultant. The Committee has the discretion to approve, disapprove or alter the Chief Executive
Officer’s recommendations.Fourth Amendment to the Amended and Restated Security Agreement

 Exhibit 10.2 

FOURTH AMENDMENT TO 

AMENDED AND RESTATED SECURITY AGREEMENT 

THIS FOURTH AMENDMENT (the “Amendment”) is made as of June 15, 2010 by and between GTC Biotherapeutics, Inc., a
Massachusetts corporation (the “Debtor”), and LFB Biotechnologies, S.A.S., a société par actions simplifiée established under the laws of France (the “Secured Party”). 

RECITALS 

A. The Debtor and the Secured Party are parties to an Amended and Restated Security Agreement dated as of June 18, 2009, as amended
by that certain Omnibus Amendment Regarding Loan Agreement and that certain Omnibus Amendment Regarding Note and Warrant Purchase Agreement, each dated December 21, 2009 and that certain Third Amendment to Amended and Restated Security
Agreement dated February 24, 2010 (as so amended and as the same may hereafter be amended, the “Security Agreement”). Capitalized terms used herein without definition shall have the meanings assigned to them in the Security
Agreement. 
 B. The Debtor requested that the Security Agreement be amended as set forth herein. 

C. Subject to certain terms and conditions contained herein, the Secured Party is willing to agree to the same as hereinafter set forth.

 NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows: 
 1. Amendments to Security Agreement. 

(a) The fifth and sixth WHEREAS clauses contained in the Security Agreement are hereby amended and restated in their entireties as
follows: 
 WHEREAS, pursuant to (i) that certain Note Purchase Agreement dated as of
February 22, 2010 by and between the Debtor and the Secured Party (the “2010 Purchase Agreement”), the Secured Party has made a term loan to the Debtor in the aggregate principal amount of $7,000,000 and in connection therewith
the Debtor issued to the Secured Party a secured promissory note dated as of February 24, 2010 in the original principal amount of $7,000,000 (the “2010 Note”), and (ii) that certain Note Purchase Agreement, dated as of
June 15, 2010 by and between the Debtor and the Secured Party, and subject to the satisfaction of the conditions contained therein, the Secured Party has committed to make a term loan to the Debtor in the aggregate principal amount of
$7,000,000 and in connection therewith the Debtor is issuing to the Secured Party a secured convertible promissory note dated as of June 15, 2010 in the original principal amount of $7,000,000 (the “Second 2010 Convertible Note, and
together with the 2006 Convertible Note, the 2008 Convertible Note, the 2010 Note, the Second 2010 Convertible Note and the Secured Note, collectively, the “Notes”). 

 WHEREAS, in connection with the issuance of the Secured Note and that
certain secured convertible note dated as of June 18, 2009 in the original principal amount of $4,512,268 (which the parties hereto acknowledge has been indefeasibly paid in full, is no longer outstanding, and has been converted in its entirety
to shares of the Debtor’s Series E-1 10% convertible preferred stock in accordance with the terms thereof), the Debtor has amended and restated the Original Security Agreement in its entirety and delivered this Agreement in favor of Secured
Party, pursuant to which all debts, obligations and liabilities of the Debtor to the Secured Party are secured, including without limitation, the obligations under the 2008 Purchase Agreement, the Loan Agreement, the 2006 Convertible Note, the 2008
Convertible Note, the 2010 Note, the Second 2010 Convertible Note and the Secured Note.” 
 (b) Section 1 of the
Security Agreement is hereby amended and restated in its entirety as follows: 
 “1. CREATION OF SECURITY INTEREST.

 Debtor grants to Secured Party, its successors and assigns, a continuing security interest in, to and against
all property listed on any collateral schedule now or in the future annexed to or made a part of this Agreement (“Collateral Schedule”), including without limitation the property listed on Collateral Schedule No. 1, whether now
owned or existing or hereafter acquired or arising and wheresoever located, and in and against all additions, attachments, accessories and accessions to such property, all substitutions, replacements or exchanges therefor, and all proceeds or
products thereof, in whatever form, including without limitation cash, deposit accounts (whether or not comprised solely of proceeds), certificates of deposit, insurance proceeds (including hazard, flood and credit insurance), negotiable instruments
for the payment of money, chattel paper, security agreements, documents, eminent domain proceeds, condemnation proceeds and/or tort claim proceeds (all such property is individually and collectively called the “Collateral”). This
security interest is given to secure the payment and performance of all debts, obligations and liabilities of any kind whatsoever (including all interest (whether or not allowed or disallowed), charges, expenses, fees and other sums accruing after
commencement of any case, proceeding or other action relating to the bankruptcy, insolvency or reorganization of Debtor) of Debtor to Secured Party, now existing or arising in the future, including without limitation, the debts, obligations and
liabilities of Debtor to Secured Party in connection with the payment and performance of the 2006 Convertible Note, the 2008 Convertible Note, the 2010 Note, the Second 2010 Convertible Note, the Secured Note, the 2008 Purchase Agreement (excluding
the Warrant), the Loan Agreement, that certain Trademark 
  

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and License Security Agreement by and between the Debtor and the Secured Party dated as of December 22, 2008 (as amended, the “Trademark Security Agreement”), that certain
Patent and License Security Agreement by and between the Debtor and the Secured Party dated as of December 22, 2008 (as amended, the “Patent Security Agreement”), and that certain Second Mortgage, Security Agreement and Fixture
Filing dated December 22, 2008 granted by Debtor to Secured Party, as amended by that certain Amendment to Mortgage, Security Agreement and Fixture Filing dated June 18, 2009, by that certain Second Amendment to Mortgage, Security
Agreement and Fixture Filing dated as of December 21, 2009, by that certain Third Amendment to Mortgage, Security Agreement and Fixture Filing dated as of February 24, 2010 and that certain Fourth Amendment to Mortgage and Security
Agreement and Fixture Filing dated as of June 15, 2010 (as so amended, the “Mortgage”), together with all Schedules and attachments thereto and any renewals, extensions, modifications, amendments and/or restatements of any such
debts, obligations and liabilities (such Notes, the 2008 Purchase Agreement, the Loan Agreement, Trademark Security Agreement, Patent Security Agreement, Mortgage, Schedules, debts, obligations and liabilities are called the
“Indebtedness”).” 
 (c) Section 7(d) of the Security Agreement is hereby amended and restated in its
entirety as follows: 
 “(d) Proceeds from any sale or lease or other disposition shall be applied: first,
to all costs of repossession, storage, and disposition including without limitation attorneys’, appraisers’, and auctioneers’ fees; second, to discharge the obligations then in default; third, to discharge any Indebtedness of Debtor
to Secured Party in connection with the Secured Note; fourth, to discharge any Indebtedness of Debtor to Secured Party in connection with the 2008 Convertible Note; fifth, to discharge any Indebtedness of Debtor to Secured Party in connection with
the 2010 Note; sixth, to discharge any Indebtedness of Debtor to Secured Party in connection with the Second 2010 Convertible Note, seventh; to discharge any Indebtedness of Debtor to Secured Party in connection with the 2006 Convertible Note;
eighth, to discharge any other Indebtedness of Debtor to Secured Party, whether as obligor, endorser, guarantor, surety or indemnitor; ninth, to reasonable, out-of-pocket expenses incurred in paying or settling liens and claims against the
Collateral; and lastly, to Debtor, if there exists any surplus. Debtor shall remain fully liable for any deficiency.” 

2. Ratification; No Further Amendments. Except as specifically amended hereby, the Security Agreement shall remain
unmodified and in full force and effect. All of the terms and conditions of the Security Agreement, including without limitation the grant of the security interest contained therein, are hereby ratified and affirmed in all respects. On and after the
date hereof, each reference in the Security Agreement to “this Security Agreement”, “hereunder”, “hereof”, or words of like import referring to the Security Agreement, shall mean and be a reference to the Security
Agreement as amended by this Amendment, and each reference in any 
  

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other documents to the Security Agreement, “thereunder”, “thereof”, or words of like import referring to the Security Agreement shall mean a reference to the Security
Agreement as amended by this Amendment. 
 3. Miscellaneous. 

(a) This Amendment shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts without reference
to its conflicts of laws. 
 (b) This Amendment may be executed by the parties hereto in several counterparts hereof and by the
different parties hereto on separate counterparts hereof, all of which counterparts shall together constitute one and the same agreement. Delivery of an executed signature page of this Amendment by facsimile transmission shall be effective as
delivery of a manually executed counterpart hereof. 
 [Signatures follow on next page] 

 

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 IN WITNESS WHEREOF, the Secured Party and the Debtor have caused this Amendment to be duly
executed as a sealed instrument by their duly authorized representatives, all as of the day and year first above written. 
  

			
	DEBTOR:
	
	GTC BIOTHERAPEUTICS, INC.
		
	By:	 	 /s/ William K. Heiden

		 	 Name: William K. Heiden

		 	Title: President and Chief Executive Officer

  

			
	SECURED PARTY:
	
	LFB BIOTECHNOLOGIES S.A.S.
		
	By:	 	     /s/ Christian Béchon

		 	Name: Christian Béchon
		 	Title: President

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