Exhibit 10.11
RETENTION AGREEMENT
This Agreement is entered into effective July 6, 1999, by and between JDS Uniphase Inc. (the "Company") and Jozef Strauss ("Employee").
I. For the purposes of this Agreement, the following definitions apply:
(a) "Cause" means:
(b) "Change of Control" means the occurrence of one or more of the following with respect to the Company or with respect to JDS Uniphase Corporation:
but any such event in respect of the Company that does not result in any change in the beneficial ownership of the Company by JDS Uniphase Corporation is deemed not to be a Change of Control.
(c) "Common Stock" means the aggregate of:
(d) "Good Reason" means:
(e) "Disabled" means a mental or physical disability, illness or injury, evidenced by medical reports from a duly qualified medical practitioner, which renders the Employee unable to perform the essential duties of his or her position, and "Disability" has a corresponding meaning.
(f) "Effective Date" means:
2. This Agreement expires five years from the date hereof (the "Expiry Date").
3. If at any time up to and including the Expiry Date:
| JDS Uniphase Inc. |
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By: |
/s/ Michael C. Phillips |
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Name: |
Michael C. Phillips | |
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Title: |
Vice President |
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/s/ Konstantin Kotzeff Witness |
/s/ Jozef Straus Jozef Straus |
AGREEMENT REGARDING CHANGE OF CONTROL
This Agreement is entered into effective July 6, 1999 by and between JDS Uniphase Inc., (the "Company"), and Jozef Strauss ("Executive").
RECITALS
Executive is employed by the Company and is a valued officer of the Company. As an inducement to Executive to remain in the employ of the Company, the Company wishes to provide for certain rights in favour of Executive to exercise options to purchase shares of Common Stock (as defined below) held by Executive upon a Change of Control (as defined below) of the Company upon the terms herein provided.
NOW THEREFORE, in consideration of the foregoing and the mutual promises
herein contained, the parties agree as follows:
AGREEMENT
Section
1. Definitions
For purposes of this Agreement, the following definitions shall apply:
"Change of Control" means the occurrence of one or more of the following with respect to the Company or with respect to JDS Uniphase Corporation:
but any such event in respect of the Company that does not result in any change in the beneficial ownership of the Company by JDS Uniphase Corporation is deemed not to be a Change of Control.
"Closing Date" means the date of the first closing of the transaction constituting a Change of Control.
"Common Stock" means the aggregate of:
(a) the issued and outstanding $.001 par value, common stock of JDS Uniphase Corporation; and,
(b) the issued and outstanding exchangeable shares in the capital of 3506967 Canada Inc. (the name of which has been or will be changed to JDS Uniphase Canada Ltd.), an indirect subsidiary of JDS Uniphase Corporation;
"Executive's Stock Options" shall mean any options to purchase Common Stock held by Executive that have been issued to Executive by the Company or by JDS Uniphase Corporation prior to a Closing Date.
Section 2. Acceleration of Options on a Change in Control
The Company agrees that the right of Executive to exercise the Executive's Stock Options shall be accelerated as of the Closing Date of a Change of Control so that Executive's Stock Options shall become fully exercisable as of the Closing Date as to all shares of the Common Stock subject thereto and, subject to the terms of this Section 2, remain exercisable thereafter in accordance with their terms. The foregoing acceleration of the right of Executive to exercise Executive's Stock Options shall apply notwithstanding any contrary terms in any stock option plan pursuant to which such Options are granted or any stock option agreement executed by the Company or by JDS Uniphase Corporation with respect to Executive's Stock Options, including, without limitation, any stock option plan terms that are adopted or any stock option agreement executed after the date hereof. Such acceleration of the exercisability of the Executive's Stock Options shall apply and occur without further action on the part of the Company, its Board of Directors, stockholders. Executive or any other party. As a condition to an acceleration of the Executive's Stock Options as provided in this Section 2, Executive agrees that Executive's Stock Options shall terminate as of the Closing Date to the extent unexercised as of such Closing Date if the terms and conditions of such Change of Control require that all employee stock options terminate as of such Closing Date. In no event shall this Section 2 be interpreted to cause the Executive's Stock Options to be exercisable for a greater number of shares of Common Stock than were subject to the Executive's Stock Options immediately prior to the Closing Date.
Section 3. No Employment Agreement
Except as previously herein provided. Executive and the Company each acknowledge and agree that this Agreement does not provide for the terms and conditions of Executive's employment with the Company and does not require or obligate Executive to provide services to the Company or the Company to continue to employ Executive.
Section 4. Notices
All notices or other communications required or permitted hereunder shall be made in writing and shall be deemed to have been duly given if delivered by hand or mailed, postage prepaid, by certified or registered mail, return receipt requested, and addressed to the Company at:
JDS Uniphase Inc.
570 West Hunt Club Road
Nepean Ontario K2G 5W8
Or to the Executive at:
691 Hillcrest Avenue
Ottawa, ON
K2A 2N2
Notice of change of address shall be effective only when done in accordance with this Section.
Section 5. Successors
This Agreement shall be binding upon and shall inure to the benefit of the parties >hereto and their respective heirs, executors, administrators, successors and assigns.
Section 6. Ontario Law
The laws of the Province of Ontario shall govern the interpretation, performance and enforcement of this Agreement.
IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date first above written.
| JDS Uniphase Inc. |
|
By: |
/s/ Michael C. Phillips |
|
| ||
|
Name: |
Michael C. Phillips | |
|
Title: |
Vice President |
|
/s/ Konstantin Kotzeff Witness |
/s/ Jozef Strauss Jozef Strauss |