Document:

Exhibit 10.1 Q2'13

Exhibit 10.1

April 23, 2013

Keith Sullivan

Re:   Amendment to Offer Letter Dated October 1, 2012

Dear Keith:

This letter serves to document an amendment to your Employee Offer Letter, dated October 1, 2012.  This amendment is effective retroactively to January 1, 2013.

		
	1.
	 Section 1, Compensation, (c) Incentive Equity Grants shall now read as follows:

An annual grant of 40,000 Performance Stock Units (“PSUs”) shall be granted on the first of each year you remain employed with the Company.  Each PSU shall vest upon the achievement of certain performance objectives which shall be defined each year.  For the fiscal year of 2013, you shall be granted 40,000 PSU's and 10,000 shares per quarter shall vest upon the achievement of performance objectives as approved by the Compensation Committee of the Board of Directors on April 23, 2013.  
		
	2.
	Section 1, Compensation, (e), Sales Compensation Plan.  This Section shall be re-titled Section 1, Compensation, (e) Corporate Bonus and shall now read as follows

Your corporate bonus percentage shall be 70% of the base salary and eligibility is pursuant to the Company's 2013 Corporate Bonus Plan.   

All other aspects of your Employee Offer Letter, dated October 1, 2012, remain unchanged.  Thank you for your ongoing contributions to the Company.  Please let me know if you have any questions.

Sincerely,

/s/ Mark J. Foley                         
Mark Foley, President & CEO

The foregoing is agreed and accepted.

/s/ Keith Sullivan                         
Keith Sullivan
Dated:  4/23/2013Exhibit 10.2 Q2'13

Exhibit 10.2

November 26, 2012

Sergio Garcia

Re:  Compensation

Dear Sergio:

Congratulations! The Compensation Committee of the Board of  Directors  has  approved  the  following compensation  adjustment, equity grant, and change in control provision as it relates to your employment with Zeltiq Aesthetics,Inc. (the "Company"). These changes are effective November 15, 2012. This is also considered the grant date for purposes of any equity grants described herein.

Cash Compensation:  Your new per pay period rate will be $12,916.66 ($310,000.00 on an annualized basis). You are an exempt employee, paid this rate, less applicable withholding,on a semi-monthly basis in accordance with our normal payroll procedures. Your target bonus percentage has not changed.

The Company has granted  you an option  to  purchase 60,000 (sixty thousand) shares of Common Stock at an exercise price equal to the fair market value on the date the grant was approved. These will be granted as nonqualified stock options and 25% of the shares shall vest on the first anniversary of the Grant Date, and 1/48 of the total number of shares shall vest monthly  thereafter. The stock option  will  be subject to the terms and conditions applicable  to  options  granted under the Company's 2012 Equity Incentive  Plan, and as described in that plan and the applicable stock option agreement.

		
	Change in Control: 
	If at any time (i) your employment with the Company is terminated by the Company without Cause or by  you for Good Reason, and in either event within one year after the consummation of a Change in Control (and other than a result of your death or disability); and (ii) not later than 60 days following  your termination of employment  you execute a general release of claims (the "Release") in favor of the Company in such form provided by the Company, return such Release to the Company within the applicable time period set forth therein, and permit such Release to become effective in accordance with its terms; then, on the sixtieth (60 1h) day following such termination of employment, you shall receive or commence to receive,as the case may be (i) continuation of your then-current base salary and bonus, less required deductions and withholdings, for a period of Twelve (12) months after your employment  termination date,payable on the Company's regular payroll dates (ii) acceleration of the vesting for the Base Equity Incentive Grant, such that your last date of employment,you will be deemed vested in any such equity which would have vested during the one year period after termination of your employment.

		
	Employment At Will: 
	All Company employees are employed on an "at-will" basis. Your employment with the Company is voluntarily entered into and is for no specified period. As a result, you are free to resign at any time, for any reason or for no reason, as you deem appropriate. The Company will have a similar right and may conclude its employment relationship with you at any time,with or without cause.

Unless specifically listed above, all other aspects of your employment  with the Company shall remain unchanged. Thank you for your ongoing contributions to the Company.

Sincerely,

/s/ Mark J. Foley                         
Mark Foley, President & CEO

The foregoing is agreed and accepted.

/s/ Sergio Garcia                         
Sergio Garcia
Dated:  11/28/2012Exhibit 10.3 Q2'13

Exhibit 10.3

April 29, 2013

Sergio Garcia

Re:   Second Amendment to Offer Letter Dated February 9, 2012

Dear Sergio:

This letter serves to document an amendment to your Employee Offer Letter, dated February 9, 2012.  This amendment is effective immediately.

		
	1.
	 Section 7, Change in Control provision shall be replaced in its entirety with the following:

If at any time during your employment with the Company (i) your employment with the Company is terminated by the Company without Cause or by you for Good Reason , and in either event within one (1) year after the consummation of a Change in Control (and other than a result of your death or disability); and (ii) not later than sixty (60) days following your termination of employment you execute a general release of claims (the “Release”) in favor of the Company in such form provided by the Company, return such Release to the Company within the applicable time period set forth therein, and permit such Release to become effective in accordance with its terms; then, on the sixtieth (60th) day following such termination of employment, you shall receive or commence to receive, as the case may be:
		
	(i)
	Continuation of your then-current base salary and bonus, less required deductions and withholdings, for a period of twelve (12) months after your employment termination date, payable on the Company's regular payroll dates;

		
	(ii)
	Acceleration of the vesting for the initial grant of 100,000 RSUs (“Long Term Incentive”) and the equity option grant of 60,000 shares (“Base Equity Incentive Grant”); and any future equity grants, such that your last date of employment, you will be deemed vested in any such equity which would have vested during the one (1) year period following termination of your employment.

For Clarity definitions of Change in Control; Cause and Good Reason are as follows:
“Change in Control” shall mean: (a) a sale of all or substantially all of ZELTIQ's assets, or (b) any merger, consolidation or other business combination transaction of ZELTIQ with or into another corporation, entity or person, other than a transaction in which the holders of at least a majority of the shares of voting capital stock of ZELTIQ outstanding immediately prior to such transaction continue to hold (either by such shares remaining outstanding or by their being converted into shares of voting capital stock of the surviving entity) a majority of the total voting power represented by the shares of voting capital stock of ZELTIQ (or the surviving entity) outstanding immediately after such transaction other than any transaction involving the issuance of any newly issued equity securities solely for cash.
“Cause” shall mean: (i) a willful failure by the employee to substantially perform his or her duties hereunder, other than a failure resulting from his or her complete or partial incapacity due to physical or mental illness or impairment, (ii) a willful act by he or she which constitutes gross misconduct and which is injurious to ZELTIQ, (iii) a willful breach by you of a material provision of this Agreement, (iv) a material and willful violation by you of a federal or state law or regulation applicable to the business of ZELTIQ, or (v) termination of your employment in connection with the bankruptcy, insolvency, liquidation, or similar winding-up of the business of ZELTIQ.
“Good Reason” shall mean:  (i) any material reduction in the employee's base salary, (ii) a material diminution of the employee's job duties or responsibilities, or (iii) a change in the location of the employee's employment of more than 20 miles (which is material) from its current location unless such relocation is within 50 miles of the employee's principal residence; provided, however, that in order to terminate the employee's employment for Good Reason the employee shall first give ZELTIQ written notice stating with reasonable specificity the basis for the termination with Good Reason within ninety (90) days of the first occurrence of the event giving rise to Good Reason; give ZELTIQ a period of thirty (30) days to cure or remedy the problem, unless such problem cannot be cured or remedied within thirty (30) days, in which case the period for remedy or cure shall be extended for a reasonable time (not to exceed an additional thirty (30) days); and terminate his or her employment within thirty (30) days following the expiration of such cure period.

All other aspects of your Employee Offer Letter, dated February 9, 2012 remain unchanged.  

Sincerely,

/s/ Mark J. Foley                         
Mark Foley, President & CEO

The foregoing is agreed and accepted.

/s/ Sergio Garcia                         
Sergio Garcia
Dated:  4/29/2013Exhibit 10.1

EXHIBIT 10.1

FIRST AMENDMENT TO
BENEFITS AND COMPENSATION MATTERS AGREEMENT

This FIRST AMENDMENT TO THE BENEFITS AND COMPENSATION MATTERS AGREEMENT (“Amendment”) is made and entered as of May 9, 2012, among ITT Corporation, an Indiana corporation (“ITT”), Xylem Inc., an Indiana corporation (“Water”) and Exelis Inc., an Indiana corporation (“Defense”) (ITT, Water and Defense are referred to herein each individually as a “Party”, and collectively as the “Parties”).

WHEREAS, ITT, Water and Defense are parties to that certain Benefits and Compensation Matters Agreement dated as of October 25, 2011 (the “Agreement”);

WHEREAS, the Parties desire to amend the Agreement in accordance with Section 18(j) of the Agreement.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows:

		
	1.
	Defined Terms.  Defined terms used without definition in this Amendment have the meanings ascribed to them in the Agreement.

		
	2.
	Amendment to Section 3(b)(ii).  Section 3(b)(ii) of the Agreement is hereby deleted in its entirety and replaced with the following:

		
	“(ii)
	Adoption of US Qualified DB Plan.  Effective as of January 1, 2012, Water shall adopt Xylem Pension Plan for Bargaining Unit Employees, Auburn, New York, which will have terms similar in all material respects to the ITT Pension Plan for Bargaining Unit Employees, Seneca Falls, New York maintained by ITT and identified as Item 16 on Schedule 3(a)(i).  ITT shall retain accrued benefits associated with Water Employees who participated in the ITT Pension Plan for Bargaining Unit Employees, Seneca Falls, New York maintained by ITT and identified as Item 16 on Schedule 3(a)(i) accrued prior to the Distribution Date.  Water shall assume accrued benefits associated with Water Employees who participated in the ITT Pension Plan for Bargaining Unit Employees, Seneca Falls, New York maintained by ITT identified as Item 16 on Schedule 3(a)(i) accrued on and following the Distribution Date.”

		
	3.
	Amendment to Section 3(d)(iv).  Section 3(d)(iv) of the Agreement is hereby amended by deleting “as Items 8,” and replacing it with “as Items 7,”.

		
	4.
	Amendment to Section 3(d).  Section 3(d) of the Agreement is hereby amended by the addition of new subparagraph (viii) as follows:

		
	“(viii)
	Adoption of Non-US DB Plans.  (A)  Effective on the Distribution Date, ITT shall adopt New ITT Industries Management GmbH (Germany) plan, which will have terms similar in all material respects to the ITT Industries Management GmbH (Germany) plan maintained by ITT Industries Management GmbH and identified as Item 41 on Schedule 3(a)(iii).  As soon as practicable on or after the Distribution Date, Water shall transfer to ITT the assets and liabilities associated with ITT Employees who participated in ITT Industries Management GmbH (Germany) plan identified as Item 41 on Schedule 3(a)(iii).  Such assets will be transferred in kind to the maximum extent practicable.  The plan actuary for such plan will be responsible for determining the appropriate amount of assets and liabilities to be allocated per employee transferred, in each case in accordance with applicable law.

(B)  Effective on the Distribution Date, ITT shall adopt New ITT Industries Management GmbH (Germany) plan, which will have terms similar in all material respects to the ITT Industries Management GmbH (Germany) plan maintained by ITT Industries Management GmbH and identified as Item 43 on Schedule 3(a)(iii).  As soon as practicable on or after the Distribution Date, Water shall transfer to ITT the assets and liabilities associated with ITT Employees who participated in ITT Industries Management GmbH (Germany) plan identified as Item 43 on Schedule 3(a)(iii).  Such assets will be transferred in kind to the maximum extent practicable.  The plan actuary for such plan will be 

responsible for determining the appropriate amount of assets and liabilities to be allocated per employee transferred, in each case in accordance with applicable law.”

		
	5.
	Amendment to Section 7(a).  Section 7(a) of the Agreement is hereby amended by the addition of new subparagraph (vi) as follows:

		
	“(vi)
	ITT hereby agrees that with respect to the ITT Stock Plan identified as Item 7 on Schedule 7(a), it will continue to pay the costs of administering the plan for a period not to exceed the fifth anniversary of the Distribution Date; provided that ITT continues to use Capita Share Plan Services Ltd (or its successor) to administer the ITT Stock Plan identified as Item 6 on Schedule 7(a).  Prior to replacing Capita Share Plan Services Ltd (or its successor) as administrator to the ITT Stock Plan identified as Item 6 on Schedule 7(a), ITT will notify Water of such change and Water will then be responsible for paying the costs of administering the ITT Stock Plan identified as Item 7 on Schedule 7(a).” 

6.Amendments to Schedules.  

		
	a.
	A new Schedule 3(a)(iii) is hereby attached to the Agreement in the form of Schedule 3(a)(iii) attached hereto.

		
	b.
	A new Schedule 4(a)(i) is hereby attached to the Agreement in the form of Schedule 4(a)(i) attached hereto.

		
	7.
	Effect of Amendment.  This Amendment is hereby incorporated into and made a part of the Agreement.  Except as amended by this Amendment, all terms and provisions of the Agreement shall continue and remain in full force and effect and binding upon the parties thereto.

		
	8.
	Binding Effect.  This Amendment shall be binding in all respects and inure to the benefit of the successors and permitted assigns of the Parties.

		
	9.
	Governing Law.  This Amendment shall be governed by and construed in accordance with the Laws, but not the Laws governing conflicts of Laws (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law), of the State of New York.

		
	10.
	Counterparts.  This Amendment may be executed in more than one counterpart, all of which shall be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to the other Parties.

[SIGNATURE PAGES FOLLOW]

IN WITNESS WHEREOF, the Parties have duly executed and entered into this Amendment as of the date first above written.

ITT CORPORATION

By:  ______________________________
        Name:  Aris C. Chicles
        Title: Executive Vice President

EXELIS INC.

By:  ________________________________
        Named:  Ann D. Davidson
        Title:  Senior Vice President, Chief Legal Officer & Corporate Secretary

XYLEM INC.

By:  ________________________________
        Named:  Frank R. Jimenez
        Title:  Senior Vice President, General Counsel & Corporate Secretary

Schedule 3(a)(iii): List of Non-US Defined Benefit Plans
The Non-US DB Plans consist of the Defense Non-US DB Plans, the ITT Non-US DB Plans and the Water Non-US DB Plans.

Defense Non-US DB Plans
		
	1.
	None 

ITT Non-US DB Plans
		
	2.
	325- ITT Belgium - Cannon (Belgium)

		
	3.
	Gratuity Benefit Program (India) [Xylem to replicate]

		
	4.
	128- Cannon GmbH (Germany) [Unfunded]

		
	5.
	378- Cannon GmbH (Germany) [Unfunded]

		
	6.
	340- Cannon Japan (Japan) [Unfunded]

		
	7.
	735- Industries Management GmbH, Bad Camberg and former Fechenheim (Germany) [Unfunded] (liabilities for active employees as of May 20, 2011)

		
	8.
	Salary Sacrifice e.V Plan – ITTG (Germany) 

      8A. 126- DITTHA GmbH. Kempen (Germany) [Unfunded]
8B. 369- Industries Management GmbH, Ebernhahn (Division KONI) (Germany) (liabilities for active employees as of May 20, 2011)
8C. 738- DITTHA GmbH, Kempen (Germany) [Unfunded]

Water Non-US DB Plans
		
	9.
	323- ITT Belgium - ITT Industries (Belgium)

		
	10.
	324- ITT Belgium Pension Plan (Belgium)

		
	11.
	166- Pension Plan for Union Employees of ITT Automotive, a division of ITT Industries of Canada Ltd. [Electrical Systems, North America] (Canada)

		
	12.
	200- Pension Plan for Hourly Employees of ITT Residential & Commercial Water (R&CW), a Division of ITT Industries of Canada L.P  (Canada)

		
	13.
	203- Pension Plan for Hourly Employees of ITT Automotive, a division of ITT Industries of Canada Ltd. [Structural Systems and Components, North America (Toronto Stamping Plant)] (Canada)

		
	14.
	205- ITT Industries Canadian Pension Plan for Salaried Employees (Canada)

		
	15.
	350- ITT Canadian Excess Benefit Plan - Unregistered (Canada)

		
	16.
	209- Pension Plan for Hourly Employees of ITT Fabri-Valve, a Division of ITT Industries of Canada Ltd. (Canada)

		
	17.
	221- Pension Plan for Union Employees of Ontario Malleable Iron Company Limited (Canada)

		
	18.
	223- Pension Plan for Union Employees of ITT Cannon, a Division of ITT Industries of Canada Ltd.(Canada)

		
	19.
	744- Pension Plan of ITT Water & Wastewater, a Division of ITT Industries of Canada L.P.(Canada)

		
	20.
	369- Industries Management GmbH, Ebernhahn (Division KONI) (Germany) (solely for liabilities for inactive employees as of May 20, 2011)

		
	21.
	756- Flygt Ireland (Ireland)

		
	22.
	186- ITT Industries General Pension Plan (UK)

		
	23.
	189- ITT Industries Pension Plan for UK Expatriates (UK)

		
	24.
	190- Godwin Pumps Limited Pension Scheme (UK)

		
	25.
	125- Industriebeteiligungsgesellschaft mbH (Germany) [Unfunded]

		
	26.
	DELETED

		
	27.
	DELETED

		
	28.
	366- Industries Management GmbH, Ebernhahn (Division KONI) (Germany) [Unfunded]

		
	29.
	111- ITT Flygt Pumpen GmbH, Langenhagen, jetzt ITT Water & Wastewater (Germany) [Unfunded]

		
	30.
	DELETED

		
	31.
	116- ITT Industriebeteiligungsgesellschaft mbH (Germany) [Unfunded]

		
	32.
	755- ITT Water & Wastewater, Herford (Germany) [Unfunded]

		
	33.
	760- Jabsco GmbH (Germany) [Unfunded]

		
	34.
	761- ebro Electronic GmbH & Co. KG (Germany) [Unfunded]

		
	35.
	762- SI Analytics GmbH Mainz Deferred Comp (Germany) [Unfunded]

		
	36.
	763- SI-FAS Pension Valuation (Germany) [Unfunded]

		
	37.
	764- WTW FAS Pension Plan (Germany) [Unfunded]

		
	38.
	765- ebro Electronics Instruments GmbH Ingolstadt Pension Plan (Germany) [Unfunded]

		
	39.
	370- Industries Management GmbH, former Regelungstechnik (Germany) [Unfunded]

		
	40.
	720- Industries Management GmbH, former Regelungstechnik (Germany) [Unfunded]

		
	41.
	731- Industries Management GmbH (Germany) [Unfunded] [ITT to replicate]

		
	42.
	732- Industries Management GmbH (Germany) [Unfunded]

		
	43.
	734- Industries Management GmbH (Germany) [Unfunded] [ITT to replicate]

		
	44.
	736- Industries Management GmbH, Bad Camberg and former Fechenheim (Germany) [Unfunded]

		
	45.
	713- Flygt S.p.a. Flygt Italy Plan (Italy) [Unfunded]

		
	46.
	766- ADIN Pension 28229 NOK (Norway) [Unfunded]

		
	47.
	767- ADI Storebrand 27835 NOK (Norway) [Unfunded]

		
	48.
	768- Storebrand 25000 NOK (Norway) [Unfunded]

		
	49.
	118- Grindex AB (Sweden) [Unfunded]

		
	50.
	120- Water & Wastewater AB General Pension Plan (ITP-Plan) (Sweden) [Unfunded]

		
	51.
	121- Water & Wastewater AB Individual Contracts (Not FPG/PRI) (Sweden) [Unfunded]

		
	52.
	754- Industries Holding AB General Pension Plan (ITP-Plan) (Sweden) [Unfunded]

		
	53.
	735- Industries Management GmbH, Bad Camberg and former Fechenheim (Germany) [Unfunded] (solely for liabilities for inactive employees as of May 20, 2011)

Schedule 4(a)(i): List of US Qualified Defined Contribution Plans
The US Qualified DC Plans consist of the Defense US Qualified DC Plans, the ITT US Qualified DC Plans and the Water US Qualified DC Plans.

Defense US Qualified DC Plans
		
	1.
	100- ITT Salaried Investment and Savings Plan     

		
	2.
	178- ITT Avionics Division & ITT Aerospace/Communications Division Bargaining Unit Savings Plan    

		
	3.
	209- ITT Night Vision Savings Plan for Hourly Employees    

		
	4.
	227- ITT Electronic Systems Savings Plan for Hourly Employees

		
	5.
	013- ITT Systems Corporation Retirement/Savings Plan

		
	6.
	235- ITT Systems Corporation Pacific Missile Range Facility Savings Plan for Hourly Employees    

		
	7.
	ITT Research Systems Inc. Employees’ Savings Plan     

		
	8.
	237- ITT Advanced Engineering and Sciences Professional Benefits Employees’ Savings Plan     

		
	9.
	003- EDO Corporation Employee Investment Plan 

		
	10.
	200- ITT Gilfillan Savings Plan for Hourly Employees    

ITT US Qualified DC Plans
		
	11.
	193- ITT Aerospace Controls Savings Plan for Hourly Employees

		
	12.
	196- ITT Cannon Savings Plan for Hourly Employees    

		
	13.
	216- ITT Engineered Valves - Lancaster Savings Plan for Hourly Employees    

		
	14.
	009- Goulds Pumps, Inc. Retirement Savings and Investment Plan [Xylem to replicate]    

		
	15.
	201- ITT Conoflow Savings Plan for Hourly Employees    

		
	16.
	215- ITT Engineered Valves - Fabri Savings Plan for Hourly Emp. At Amory, MS    

		
	17.
	225- ITT Engineered Valves CA Pure Flo Solutions Group Savings Plan for Hourly Employees    

		
	18.
	236- ITT BIW Connector Systems Employees Savings Plan    

		
	19.
	010- Procast And Goulds Pump Service Center Employee Savings Plan

		
	20.
	240- Pure-Flo Precision Savings Plan for Hourly Employees    

		
	21.
	239- ITT Koni Friction Products Savings Plan for Hourly Employees    

		
	22.
	238- ITT Control Technologies Savings Plan for Hourly Employees

		
	23.
	DELETED

		
	24.
	DELETED

Water US Qualified DC Plans
		
	25.
	002- ITT Rule Savings Plan for Hourly Employees

		
	26.
	203- ITT Bell & Gossett Savings Plan for Hourly Employees    

		
	27.
	226- ITT Heat Transfer Savings Plan for Hourly Employees    

		
	28.
	231- ITT Hydro Air Savings Plan for Hourly Employees    

		
	29.
	241- Flojet Corporation 401(k) Plan    

		
	30.
	001- F.B. Leopold Co., Inc. Savings Plan for Hourly Employees    

		
	31.
	001- F.B. Leopold Company, Inc. Retirement Savings Plan

		
	32.
	001- Laing Thermotech, Inc. 401(k) Profit Sharing Plan    

		
	33.
	Godwin Pumps of America, Inc. Profit Sharing Plan and Trust

		
	34.
	Evolutionary Concepts Profit Sharing Plan (YE 6/30/2010)

		
	35.
	ECI/Alcon 401(k) Plan

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