Amendment to Medarex, Inc. 2002 Employee Stock Purchase Plan in Connection with Bristol-Myers Squibb Merger
This amendment to the Medarex, Inc. 2002 Employee Stock Purchase Plan states that, following the date of the merger agreement between Medarex, Bristol-Myers Squibb Company, and its subsidiary, no new employees can join the plan and current participants cannot increase their contributions. The amendment is effective as of the merger agreement date and is intended to limit changes to the plan during the merger process.
Exhibit 10.1
MEDAREX, INC.
2002 EMPLOYEE STOCK PURCHASE PLAN
AMENDMENT
Pursuant to Section 15 of the Medarex, Inc. 2002 Employee Stock Purchase Plan (the “Plan”), the Plan is amended as follows, effective on the date of an Agreement and Plan of Merger among the Company, Bristol-Myers Squibb Company, and a wholly-owned subsidiary of Bristol-Myers Squibb Company:
1. Section 6 of the Plan is amended by adding the following new subsection (f):
(f) Notwithstanding anything to the contrary in the Plan or any Offering, no Eligible Employee shall become a Participant in the Plan or any current or future Offering after the date of the Agreement and Plan of Merger among the Company, Bristol-Myers Squibb Company, and a wholly-owned subsidiary of Bristol-Myers Squibb Company.
2. Section 8(a) of the Plan is amended by adding the following at the end of the last sentence:
provided, however, that notwithstanding anything to the contrary in the Plan or any Offering, no Participant may increase his or her Contributions after the date of the Agreement and Plan of Merger among the Company, Bristol-Myers Squibb Company, and a wholly-owned subsidiary of Bristol-Myers Squibb Company.
