Document:

exv10w26

 

Exhibit 10.26

Vesting Acceleration and Severance Agreement

In consideration for the continued employment of David Shaw (the “Employee”) at the executive level
within Hansen Medical (the “Company”):

	1.	 	In the event of an Acquisition of the Company (as defined below) and either a) the
termination his employment for other than Cause (as defined below) or b) the material
change of his employment by substantial diminution in compensation or duties, or c)
substantial relocation of his place of work or d) employee voluntarily resigns, Employee
shall be entitled to the following:

	 	(i)	 	One-hundred percent (100%) of any then-unvested shares subject to stock
options issued to Employee shall become immediately vested and exercisable;
	 
	 	(ii)	 	One-hundred percent (100%) of any then-unvested restricted stock units issued
to Employee shall become immediately vested and issued;
	 
	 	(iii)	 	Severance equal to the total of (a) the number of months of Employee’s
employment with Company at the time of Acquisition, rounded up to the nearest whole
month, but capped at twelve (12) months, (b) divided by twelve (12) months, (c)
multiplied by Employee’s then current annual salary compensation; and
	 
	 	(iv)	 	Continuation of Employee’s then-current health, dental, vision, and
life/disability insurance benefits for a period equal to the number of months of
Employee’s employment with Company at the time of Acquisition, rounded up to the
nearest whole month, but capped at twelve (12) months.

	2.	 	In the event that (i) Employee, at any time during his employment with Company, is
unable, through order or determination of a Court or other body of competent jurisdiction
or through agreement or determination of the Company, to represent or provide counsel to
Company in whole or in part against or about any third party in connection with any
matter, AND (ii) such order or determination or agreement is consistent with the subject
matter of parties’ discussions prior to signing this agreement, AND (iii) as a result of
such order or determination or agreement, Company terminates Employee’s employment with
Company, then Employee shall be entitled to the actions, compensation
and benefits enumerated in sections 1(i) through (iv) above.

3. The following terms shall have the following definitions:

(i) An “Acquisition” shall mean a) any consolidation or merger of the Company with or into any
other corporation or entity or person in which the stockholders of the

—Confidential—

 

 

Company prior to such consolidation, merger or reorganization shall own less than fifty percent
(50%) of the voting stock of the continuing or surviving entity of such consolidation, merger or
reorganization, b) any other corporate reorganization in which in excess of fifty percent (50%) of
the Company’s voting power is transferred, or c) any transaction in which any person, together with
its affiliates, accumulates fifty percent (50%) or more of the Company’s voting power;

(ii) “Cause” shall mean (a) an intentional unauthorized use or disclosure of the Company’s
confidential information or trade secrets, which use or disclosure causes material harm to the
Company, (b) a material breach of any agreement between Employee and the Company, (c) a material
failure to comply with the Company’s written policies or rules, (d) conviction of, or plea of
“guilty” or “no contest” to, a felony under the laws of the United States or any state thereof, (e)
gross negligence or willful misconduct or (f) a continued failure to perform assigned duties after
receiving written notification of such failure from the Company’s Board of Directors.

	 	 	 	 	 	 	 	 	 
	Understood and Agreed:	 	 	 	 	 	 
	 
	/s/
David Shaw
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	David Shaw

	 	 	 	 	 	Date	 	 
	 
	/s/
Fred Moll
	 	 	 	 	 	2/21/08	 	 
	 	 	 	 	 	 	 
	Fred Moll, CEO

	 	 	 	 	 	Date	 	 

—Confidential—exv10w27

 

Exhibit 10.27

Hansen Medical, Inc.

2006 Equity Incentive Plan:

Notice of Restricted Stock Unit Award

You have been granted units representing shares of Common Stock of Hansen Medical, Inc. (the
“Company”) on the following terms:

	 	 	 
	Name of Recipient:

	 	David Shaw
	 
	 	 
	Total Number of Units Granted:

	 	10,000 
	 
	 	 
	Date of Grant:

	 	December 3, 2007
	 
	 	 
	Vesting Commencement Date:

	 	December 3, 2007
	 
	 	 
	Vesting Schedule:

	 	25% of the units subject to this award will vest when you complete
each 12-month period of “Continuous Service” (as defined in the Plan) after the
Vesting Commencement Date.

You and the Company agree that these units are granted under and governed by the terms and
conditions of the Hansen Medical, Inc. 2006 Equity Incentive Plan (the “Plan”) and the Restricted
Stock Unit Award Agreement, both of which are attached to and made a part of this document.

You further agree that the Company may deliver by email all documents relating to the Plan or this
award (including, without limitation, prospectuses required by the Securities and Exchange
Commission) and all other documents that the Company is required to deliver to its security holders
(including, without limitation, annual reports and proxy statements). You also agree that the
Company may deliver these documents by posting them on a website maintained by the Company or by a
third party under contract with the Company. If the Company posts these documents on a website, it
will notify you by email.

	 	 	 	 	 	 	 	 	 
	Recipient:	 	 	 	Hansen Medical, Inc.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/
David Shaw      2/21/08

	 	 	 	By:	 	/s/ Steven Van Dick	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	CFO	 	 
	 

	 	 	 	 	 	 	 	 

 

 

Hansen Medical, Inc.

2006 Equity Incentive Plan:

Restricted Stock Unit Award Agreement

	 	 	 
	Payment for Units

	 	No payment is required for the
units that you are receiving.
	 
	 	 
	Vesting

	 	The units vest in installments, as
shown in the Notice of Stock Unit
Award. No additional units vest
after your Continuous Service has
terminated for any reason.
	 
	 	 
	Forfeiture

	 	If your Continuous Service
terminates for any reason, then
your units will be forfeited to
the extent that they have not
vested before the termination
date. This means that any units
that have not vested under this
Agreement will be cancelled
immediately. You receive no
payment for units that are
forfeited.
	 
	 	 
	 

	 	The Company determines when your
Continuous Service terminates for
this purpose.
	 
	 	 
	Settlement of Units

	 	Each unit will be settled on the
first Permissible Trading Day that
occurs on or after the day when
the unit vests. However, each
unit must be settled not later
than the March 15 of the calendar
year after the calendar year in
which the unit vests.
	 
	 	 
	 

	 	At the time of settlement, you
will receive one share of the
Company’s Common Stock for each
vested unit. But the Company, at
its sole discretion, may
substitute an equivalent amount of
cash if the distribution of stock
is not reasonably practicable due
to the requirements of applicable
law. The amount of cash will be
determined on the basis of the
market value of the Company’s
Common Stock at the time of
settlement.
	 
	 	 
	“Permissible Trading Day”

	 	“Permissible Trading Day” means a
day that satisfies each of the
following requirements:
	 
	 	 
	 

	 	•     The Nasdaq Global Market
is open for trading on that day,

 

 

	 	 	 
	 

	 	•     You are permitted to sell
shares of the Company’s Common
Stock on that day without
incurring liability under Section
16(b) of the Securities Exchange
Act of 1934, as amended,

	 
	 	 
	 

	 	•     Either (a) you are not in
possession of material non-public
information that would make it
illegal for you to sell shares of
the Company’s Common Stock on that
day under Rule 10b-5 of the
Securities and Exchange Commission
or (b) Rule 10b5-1 of the
Securities and Exchange Commission
is applicable,

	 
	 	 
	 

	 	•     Under the Company’s
written Insider Trading Policy,
you are permitted to sell shares
of the Company’s Common Stock on
that day, and

	 
	 	 
	 

	 	•     You are not prohibited
from selling shares of the
Company’s Common Stock on that day
by a written agreement between you
and the Company or a third party.

	 
	 	 
	Nature of Units

	 	Your units are mere bookkeeping
entries. They represent only the
Company’s unfunded and unsecured
promise to issue shares of Common
Stock (or distribute cash) on a
future date. As a holder of
units, you have no rights other
than the rights of a general
creditor of the Company.
	 
	 	 
	No Voting Rights or Dividends

	 	Your units carry neither voting
rights nor rights to cash
dividends. You have no rights as
a stockholder of the Company
unless and until your units are
settled by issuing shares of the
Company’s Common Stock.
	 
	 	 
	Units Nontransferable

	 	You may not sell, transfer,
assign, pledge or otherwise
dispose of any units. For
instance, you may not use your
units as security for a loan.
	 
	 	 
	Withholding Taxes

	 	No stock certificates or cash will
be distributed to you unless you
have made arrangements
satisfactory to the Company for
the payment of any withholding
taxes that are due as a result of
the settlement of this award. You
may elect to make payment of
withholding taxes in cash, or you
may cause the Company to withhold
shares of its Common Stock that
otherwise would be issued to you
when the units are settled. With
the Company’s consent, these
arrangements may also include (a)
payment from the proceeds of the
sale of shares through a
Company-approved broker or (b)
surrendering shares that you
previously acquired. The fair

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	 	market value of these shares,
determined as of the date when
taxes otherwise would have been
withheld in cash, will be applied
to the withholding taxes.
	 
	 	 
	Restrictions on Resale

	 	You agree not to sell any shares
at a time when applicable laws,
Company policies or an agreement
between the Company and its
underwriters prohibit a sale.
This restriction will apply as
long as your Continuous Service
continues and for such period of
time after the termination of your
Continuous Service as the Company
may specify.
	 
	 	 
	Employment at Will

	 	Your award or this Agreement does
not give you the right to be
retained by the Company or a
subsidiary of the Company in any
capacity. The Company and its
subsidiaries reserve the right to
terminate your Continuous Service
at any time, with or without
cause.
	 
	 	 
	Adjustments

	 	In the event of a stock split, a
stock dividend or a similar change
in Company stock, the number of
your units will be adjusted
accordingly, as the Company may
determine pursuant to the Plan.
	 
	 	 
	Beneficiary Designation

	 	You may dispose of your units in a
written beneficiary designation.
A beneficiary designation must be
filed with the Company on the
proper form. It will be
recognized only if it has been
received at the Company’s
headquarters before your death.
If you file no beneficiary
designation or if none of your
designated beneficiaries survives
you, then your estate will receive
any vested units that you hold at
the time of your death.
	 
	 	 
	Applicable Law

	 	This Agreement will be interpreted
and enforced under the laws of the
State of Delaware (without regard
to their choice-of-law
provisions).
	 
	 	 
	The Plan and Other Agreements

	 	The text of the Plan is
incorporated in this Agreement by
reference.

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	 	The Plan, this Agreement and the
Notice of Restricted Stock Unit
Award constitute the entire
understanding between you and the
Company regarding this award. Any
prior agreements, commitments or
negotiations concerning this award
are superseded. This Agreement
may be amended only by another
written agreement between the
parties.

By signing the cover sheet of this Agreement, you agree to all of the terms and conditions described above and in the Plan.

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