EX-10.3
from 8-K
36 pages
Intercreditor and Collateral Agency Agreement Between Verenium Corporation, Wells Fargo Bank, National Association, as Trustee, Wells Fargo Bank, National Association, as Collateral Agent and the Joined Secured Parties From Time to Time Party Hereto September 1, 2009
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EX-10.1
from 8-K
3 pages
Base Salary: $29,167/Month (Less Applicable Deductions and Withholdings). Compensation Will Be Paid Semi-Monthly; Annual Salary Divided by Twenty-Four (24) Pay Periods, Retroactive to October 6, 2005. Compensation Paid to You Between October 6, 2005 and the Date of This Letter Shall Be Credited Against the Retroactive Amount Due. Bonus: A Bonus Payout of $75,000 (Less Applicable Deductions and Withholdings), Payable Immediately. Additional Bonus: An Additional Bonus Up to $210,000 (Less Applicable Deductions and Withholdings), as Determined by the Board of Directors, Based Upon Your Performance as Interim Chief Executive Officer, Payable 60 Days Following Commencement of Employment of a Regular Chief Executive Officer. Equity: Subject to the Terms of a Separate Restricted Stock Grant Notice/Agreement and Diversa’s 1997 Equity Incentive Plan, You Will Be Granted 56,773 Restricted Shares of Diversa Common Stock. Such Shares Will Be Subject to Vesting Over Three (3) Years So Long as You Continue to Be Employed With the Company. One Third of Such Shares Will Vest on the First Anniversary of This Agreement, With the Balance Vesting Quarterly in Equal Installments Over the Remaining Two Years. Other Bonus Plans: You Remain Eligible for Any Additional Bonuses in 2005 and 2006 to Which You Would Otherwise Entitled as an Officer During Periods of Such Years in Which You Are Not Interim Chief Executive Officer. Severance: If Your Employment Is Terminated by the Company for Any Reason, Other Than for Cause (As Defined Herein) You Will Receive Severance Pay Equal to Twelve (12) Months of Your Current Base Salary, Less Standard Deductions and Withholdings. for Purposes of This Letter Agreement “Cause” Shall Mean the Occurrence of Any of the Following Events: (I) Your Repeated Failure to Satisfactorily Perform Your Job Duties as Assigned by Diversa; (II) Your Failure to Comply With All Written
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