EX-10.38






EXHIBIT 10.38




AMENDED AND RESTATED

EXECUTIVE EMPLOYMENT AGREEMENT




     This AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is executed on
December 19, 2008, but effective as of December 1, 2008, between Belden Inc., a Delaware
corporation (the “Company”), and Cathy O. Staples (the “Executive”).



W I T N E S S E T H:




     WHEREAS, the Company and Executive entered into an employment agreement dated July 23, 2007
(the “Prior Agreement”);



     WHEREAS, the Company and Executive desire to amend and fully restate the Prior Agreement and
to continue Executive’s employment with the Company as its Vice President, Human Resources, in
accordance with the terms hereof; and



     WHEREAS, the Company and Executive desire to amend the Prior Agreement so as to conform the
existing terms of Executive’s employment with Section 409A (“Section 409A”) of the Internal Revenue
Code of 1986, as amended (the “Code”) and the final Treasury Regulations related thereto, among
other amendments herein.



     NOW THEREFORE, in consideration of the foregoing, of the mutual promises contained herein and
of other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:



     1. POSITION/DUTIES. Executive shall serve as the Vice President, Human Resources of the
Company. Executive shall use Executive’s best efforts to perform faithfully and efficiently the
duties and responsibilities assigned to Executive hereunder and devote substantially all of
Executive’s business time to the performance of Executive’s duties with the Company; provided, the
foregoing shall not prevent Executive from participating in charitable, civic, educational,
professional or community affairs so long as such activities do not materially interfere with the
performance of Executive’s duties hereunder or create a potential business conflict or the
appearance thereof.



     2. TERM OF AGREEMENT. The Prior Agreement was effective on July 16, 2007 (the “Effective
Date”) and this Agreement shall end on the third anniversary of the Effective Date. The term of
this Agreement shall be automatically extended thereafter for successive one (1) year periods
unless, at least ninety (90) days prior to the end of the initial term of this Agreement or the
then current succeeding one-year extended term of this Agreement, the Company or Executive has
notified the other that the term hereunder shall terminate upon its expiration date. The initial
term of this Agreement, as it may be extended from year to year thereafter, is herein referred to
as the “Term.” The foregoing to the contrary notwithstanding, upon the occurrence of a Change in
Control (defined below) at any time after the first anniversary of the Effective Date, the Term of
this Agreement shall be extended to the second anniversary of the date of the occurrence of such
Change in Control and shall be subject to expiration thereafter upon notice by Executive or the
Company to the other party or to automatic



 









 







successive additional one-year periods, as the case may be, in the manner provided above. If
Executive remains employed by the Company beyond the expiration of the Term, he shall be an
employee at-will; except that any provisions identified as surviving shall continue. In all events
hereunder, Executive’s employment is subject to earlier termination pursuant to Section 7 hereof,
and upon such earlier termination the Term shall be deemed to have ended.



     3. BASE SALARY. As of December 1, 2008, the Company shall continue to pay Executive a base
salary (the “Base Salary”) at an annual rate of $270,000, payable in accordance with the regular
payroll practices of the Company. Executive’s Base Salary shall be subject to annual review by the
Company’s Chief Executive Officer (“CEO”) and may be adjusted from time to time by the CEO (as
approved by the Compensation Committee of the Board of Directors of the Company). The base salary
as determined herein from time to time shall constitute “Base Salary” for purposes of this
Agreement.



     4. ANNUAL CASH INCENTIVE COMPENSATION. As of the Effective Date, Executive shall continue to
be eligible to participate in the Company’s annual cash incentive (bonus) plan and any successor
annual cash incentive plans. Executive shall have the opportunity to earn an annual target cash
incentive award, measured against performance criteria to be determined by the Company’s Board (or
a committee thereof).



     5. STOCK OWNERSHIP. Executive shall be subject to, and shall comply with, the stock ownership
guidelines of the Company as may be in effect from time to time.



     6. EMPLOYEE BENEFITS. As of the Effective Date:



          (a) BENEFIT PLANS. Executive shall continue to be entitled to participate in all employee
benefit plans of the Company including, but not limited to, equity, pension, thrift, profit
sharing, medical coverage, education, or other retirement or welfare benefits that the Company has
adopted or may adopt, maintain or contribute to for the benefit of its senior executives in
accordance with the terms of such plans and programs.




          (b) VACATION. Executive shall continue to be entitled to annual paid vacation in accordance
with the Company’s policy applicable to senior executives.




          (c) BUSINESS AND ENTERTAINMENT EXPENSES. Upon presentation of appropriate documentation,
Executive shall be reimbursed in accordance with the Company’s expense reimbursement policy for all
reasonable and necessary business expenses incurred in connection with the performance of
Executive’s duties hereunder.




          (d) CERTAIN AMENDMENTS. Nothing herein shall be construed to prevent the Company from
amending, altering, terminating or reducing any plans, benefits or programs.




     7. TERMINATION. Executive’s employment and the Term shall terminate on the first of the
following to occur:



          (a) DISABILITY. Upon written notice by the Company to Executive of termination due to
Disability, while Executive remains Disabled. For purposes of this


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Agreement, “Disability” shall have the meaning defined under the Company’s then-current
long-term disability insurance plan in which Executive participates.




          (b) DEATH. Automatically on the date of death of Executive.




          (c) CAUSE. Immediately upon written notice by the Company to Executive of a termination of
Executive’s employment for Cause. “Cause” shall mean:





               (i) Executive’s willful and continued failure to perform substantially his duties owed
to the Company or its affiliates after a written demand for substantial performance is
delivered to him specifically identifying the nature of such unacceptable performance, which
is not cured by Executive within a reasonable period, not to exceed thirty (30) days;




               (ii) Executive is convicted of (or pleads guilty or no contest to) a felony or any crime
involving moral turpitude; or




               (iii) Executive has engaged in conduct that constitutes gross misconduct in the
performance of his employment duties.




An act or omission by Executive shall not be “willful” if conducted in good faith and with
Executive’s reasonable belief that such conduct is in the best interests of the Company.



          (d) WITHOUT CAUSE. Upon written notice by the Company to Executive of an involuntary
termination of Executive’s employment other than for Cause (and other than due to his Disability).




          (e) GOOD REASON. Upon written notice by Executive to the Company of a voluntary termination
of Executive’s employment at any time during a Protection Period (defined in Section 10 below), for
Good Reason. “Good Reason” shall mean, without the express written consent of Executive, the
occurrence of any of the following events during a Protection Period:





               (i) Executive’s Base Salary or annual target bonus opportunity is materially reduced;




               (ii) Executive’s duties or responsibilities are negatively and materially changed in a
manner inconsistent with Executive’s position (including status, offices, titles, and
reporting responsibilities) or authority; or




               (iii) The Company requires Executive’s principal office to be relocated more than 50
miles from its location as of the date immediately preceding the Change in Control.



     Prior to any termination by Executive for “Good Reason,” he shall provide the Board not less
than thirty (30) nor more than ninety (90) days’ notice, with specificity, of the grounds
constituting Good Reason and an opportunity within such notice period for the Company to cure



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such grounds. Such notice shall be given within ninety (90) days following the initial
existence of such grounds constituting Good Reason for such notice and subsequent termination, if
not so cured above, to be effective.



          (f) VOLUNTARY TERMINATION FOR ANY REASON (WITHOUT GOOD REASON DURING A PROTECTION PERIOD).
Upon at least thirty (30) days’ prior written notice by Executive to the Company of Executive’s
voluntary termination of employment (i) for any reason prior to or after a Protection Period or
(ii) without Good Reason during a Protection Period, in either case which the Company may, in its
sole discretion, make effective earlier than any termination date set forth in such notice.




     8. CONSEQUENCES OF TERMINATION. Any termination payments made and benefits provided under
this Agreement to Executive shall be in lieu of any termination or severance payments or benefits
for which Executive may be eligible under any of the plans, policies or programs of the Company or
its affiliates, it being understood that stock options and other Long-Term Awards (as defined in
Section 11 hereof) shall be treated as addressed in Section 11 hereof. Upon termination of
Executive’s employment, the following amounts and benefits shall be due to Executive:



          (a) DEATH; DISABILITY. If Executive’s employment terminates due to Executive’s death or
Disability, then the Company shall pay or provide Executive (or the legal representative of his
estate in the case of his death) with:





               (i) (A) any accrued and unpaid Base Salary through the date of termination and any
accrued and unused vacation in accordance with Company policy; and (B) reimbursement for any
unreimbursed expenses, incurred and documented in accordance with applicable Company policy,
through the date of termination (collectively, “Accrued Obligations”);




               (ii) Any unpaid bonus earned with respect to any fiscal year ending on or preceding the
date of termination, payable when bonuses are paid generally to senior executives for such
year;




               (iii) A pro-rated annual bonus for the fiscal year in which such termination occurs, the
amount of which shall be based on actual performance under the applicable bonus plan and a
fraction, the numerator of which is the number of days elapsed during the performance year
through the date of termination and the denominator of which is 365, which pro-rated bonus
shall be paid when bonuses are paid generally to senior executives for such year; and




               (iv) Any disability insurance benefits, or life insurance proceeds, as the case may be,
as may be provided under the Company plans in which Executive participates immediately prior
to such termination.



          (b) VOLUNTARY TERMINATION (INCLUDING VOLUNTARY TERMINATION WITHOUT GOOD REASON DURING A
PROTECTION PERIOD); INVOLUNTARY TERMINATION WITHOUT CAUSE AT OR AFTER AGE 65; INVOLUNTARY
TERMINATION FOR CAUSE.




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               (i) If Executive’s employment should be terminated (i) by Executive for any reason at
any time other than during a Protection Period, or (ii) by Executive without Good Reason
during a Protection Period, then the Company shall pay to Executive any Accrued Obligations
in accordance with Section 8(a)(i).




               (ii) If Executive’s employment is terminated by the Company without Cause and other than
for Disability at or after Executives’ attainment of age 65, the Company shall pay to
Executive any Accrued Obligations.




               (iii) If Executive’s employment is terminated by the Company for Cause, the Company
shall pay to Executive any Accrued Obligations.



          (c) TERMINATION WITHOUT CAUSE. If at any time (A) prior to Executive’s attainment of age 65
and (B) other than during a Protection Period, Executive’s employment by the Company is terminated
by the Company without Cause (and other than a termination for Disability), then the Company shall
pay or provide Executive with:





               (i) Executive’s Accrued Obligations, payable in accordance with Section 8(a)(i);




               (ii) Any unpaid bonus earned with respect to any fiscal year ending on or preceding the
date of termination, payable when bonuses are paid generally to senior executives for such
year;




               (iii) A pro-rated annual bonus for the fiscal year in which such termination occurs, the
amount of which shall be based on actual performance under the applicable bonus plan and a
fraction, the numerator of which is the number of days elapsed during the performance year
through the date of termination and the denominator of which is 365, which pro-rated bonus
shall be paid when bonuses are paid generally to senior executives for such year; and




               (iv) Severance payments in the aggregate amount equal to the sum of (A) Executive’s
then Base Salary plus (B) his annual target bonus, which amount shall be payable to Executive
in equal semi-monthly payroll installments over a period of twelve (12) months.




               For purposes of this subparagraph (iv) each installment severance payment to Executive
under this subparagraph (iv) shall be treated as a separate payment (within the meaning of
Section 409A).




               Provided, anything herein to the contrary notwithstanding, if on the date of
termination Executive is a “specified employee” of the Company (as defined in Treasury
Regulation Section 1.409A-1(i)), to the extent that such severance payments (and any other
payments and benefits provided in Section 8) constitute a “deferral of compensation” under a
“nonqualified deferred compensation plan” under Section 409A and Treasury Regulation Section
1.409A-1, the following provisions shall apply (“Safe Harbor and Postponement”):



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               (1) If such payments and benefits are payable on account of Executive’s
“involuntary separation from service” (as defined in Treasury Regulation Section
1.409A-1(n)), Executive shall receive such amount of his severance payments during
the six (6)-month period immediately following the date of termination as equals the
lesser of: (x) such severance payment amount due Executive under Section 8 during
such six (6)-month period or (y) two (2) multiplied by the compensation limit in
effect under Section 401(a)(17) of the Code, for the calendar year in which the date
of termination occurs and as otherwise provided under Treasury Regulation Section
1.409A-1(b)(9)(iii) and shall be entitled to such of his benefits as satisfy the
exception under Treasury Regulation Section 1.409A-1(b)(9)(v) (“Limitation Amount”).




               (2) To the extent that, upon such “involuntary separation from service,” the
amount of payments and benefits that would have been payable to Executive under
Section 8 during the six (6)-month period following the last day of his employment
exceeds the Limitation Amount, such excess shall be paid on the first regular
semi-monthly payroll date following the expiration of such six (6)-month period.




               (3) If the Company reasonably determines that such employment termination is
not such an “involuntary separation from service,” all such payments and benefits
that would have been payable to the Executive under Section 8 during the six
(6)-month period immediately following the date of termination, but for such
determination, shall be paid on the first regular semi-monthly payroll date
immediately following the expiration of such six (6)-month period following the date
of termination.




               (4) Any payments under this Section 8(c) that are postponed pursuant to the
Safe Harbor and Postponement shall accrue interest at an annual rate (compounded
monthly) equal to the short-term applicable federal rate (as in effect under Section
1274(d) of the Code on the last day of the Executive’s employment) plus 100 basis
points, which interest shall be paid on the first regular semi-monthly payroll date
immediately following the expiration of the six (6)-month period following the date
of termination.



          (v) Subject to Executive’s continued co-payment of premiums, continued participation for
twelve (12) months in the Company’s medical benefits plan which covers Executive and his
eligible dependents upon the same terms and conditions (except for the requirements of
Executive’s continued employment) in effect for active employees of the Company. In the
event Executive obtains other employment that offers substantially similar or more favorable
medical benefits, such continuation of coverage by the Company under this subsection shall
immediately cease. The continuation of health benefits under this subsection shall reduce
the period of coverage and count against Executive’s right to healthcare continuation
benefits under COBRA.




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     9. CONDITIONS. Any payments or benefits made or provided to Executive pursuant to any
subsection of Section 8, other than Accrued Obligations, are subject to Executive’s:



          (a) compliance with the provisions of Section 12 hereof;




          (b) delivery to the Company of an executed Agreement and General Release (the “General
Release”), which shall be substantially in the form attached hereto as Exhibit A within
twenty-one (21) days after presentation thereof by the Company to Executive; and




          (c) delivery to the Company of a resignation from all offices, directorships and fiduciary
positions held by Executive with the Company, its affiliates and employee benefit plans.



Notwithstanding the due date of any post-employment payments, any amounts due following a
termination under this Agreement (other than Accrued Obligations) shall not be payable until after
the expiration of any statutory revocation period applicable to the General Release without
Executive having revoked such General Release, and, subject to the provisions of Section 21 hereof,
any such amounts shall be paid to Executive within thirty (30) days thereafter. Notwithstanding
the foregoing, Executive shall be entitled to any Accrued Obligations, payable without regard for
the conditions of this Section 9.




     10. CHANGE IN CONTROL; EXCISE TAX.



          (a) CHANGE IN CONTROL. A “Change in Control” of the Company shall be deemed to have occurred
if any of the events set forth in any one of the following subparagraphs shall occur:





               (i) The acquisition by any individual, entity or group (within the meaning of Section
13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”))
(a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the
Exchange Act) of more than 50% of either (i) the then-outstanding shares of common stock of
the Company (the “Outstanding Company Common Stock”) or (ii) the combined voting power of the
then-outstanding voting securities of the Company entitled to vote generally in the election
of directors (the “Outstanding Company Voting Securities”); provided, however, that for
purposes of this subsection (a), the following acquisitions shall not constitute a Change of
Control: (1) any acquisition directly from the Company, (2) any acquisition by the Company,
(3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained
by the Company or any corporation controlled by the Company, or (4) any acquisition by any
corporation pursuant to a transaction which complies with clauses (1) and (2) of subsection
(iii) of this definition;




               (ii) individuals who, as of the date hereof, constitute the Board (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board; provided,
however, that any individual becoming a director subsequent to the date hereof whose
election, or nomination for election by the Company’s shareholders, was approved



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by a vote of at least a majority of the directors then comprising the Incumbent Board
shall be considered as though such individual were a member of the Incumbent Board;




               (iii) consummation of a reorganization, merger or consolidation or sale or other
disposition of all or substantially all of the assets of the Company (a “Business
Combination”), in each case, unless, following such Business Combination, (1) all or
substantially all of the individuals and entities who were the beneficial owners,
respectively, of the Outstanding Company Common Stock and Outstanding Company Voting
Securities immediately prior to such Business Combination beneficially own, directly or
indirectly, more than 50% of, respectively, the then-outstanding shares of common stock and
the combined voting power of the then outstanding voting securities entitled to vote
generally in the election of directors, as the case may be, of the corporation resulting from
such Business Combination (including, without limitation, a corporation which as a result of
such transaction owns the Company or all or substantially all of the Company’s assets either
directly or through one or more subsidiaries) and in substantially the same proportions as
their ownership, immediately prior to such Business Combination of the Outstanding Company
Common Stock and Outstanding Company Voting Securities, as the case may be, and (2) at least
a majority of the members of the board of directors of the corporation resulting from such
Business Combination were members of the Incumbent Board at the time of the execution of the
initial agreement, or of the action of the Board, providing for such Business Combination; or




               (iv) approval by the shareholders of the Company of a complete liquidation or
dissolution of the Company.



          (b) QUALIFYING TERMINATION. If, prior to Executive’s attainment of age 65, Executive’s
employment is involuntarily terminated by the Company without Cause (and other than due to his
Disability) or is voluntarily terminated by Executive for Good Reason, in either case only during
the period commencing on the occurrence of a Change in Control of the Company and ending on the
second anniversary of the date of the Change in Control (“Protection Period”), then the Company
shall pay or provide Executive with:





               (i) Executive’s Accrued Obligations, payable in accordance with Section 8(a)(i);




               (ii) Any unpaid bonus earned with respect to any fiscal year ending on or preceding the
date of termination, payable when bonuses are paid generally to senior executives for such
year;




               (iii) A pro-rated annual bonus for the fiscal year in which such termination occurs, the
amount of which shall be based on target performance and a fraction, the numerator of which
is the number of days elapsed during the performance year through the date of termination and
the denominator of which is 365, which pro-rated bonus shall be paid when bonuses are paid
generally to senior executives for such year;




               (iv) A lump sum severance payment in the aggregate amount equal to the product of (A)
the sum of (1) Executive’s highest Base Salary during the Protection



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Period plus (2) his annual target bonus multiplied by (B) two (2); provided, unless the
Change of Control occurring on or preceding such termination also meets the requirements of
Section 409A(a)(2)(A)(v) and Treasury Regulation Section 1.409A-3(i)(5) (or any successor
provision) thereunder (a “409A Change in Control”), the amount payable to Executive under
this subparagraph (iv) shall be paid to Executive in equal semi-monthly payroll installments
over a period of twenty-four (24) months, not in a lump sum, to the extent necessary to avoid
the application of Section 409A(a)(1)(A) and (B);




               (v) Subject to Executive’s continued co-payment of premiums, continued participation for
two (2) years in the Company’s medical benefits plan which covers Executive and his eligible
dependents upon the same terms and conditions (except for the requirements of Executive’s
continued employment) in effect for active employees of the Company. In the event Executive
obtains other employment that offers substantially similar or more favorable medical
benefits, such continuation of coverage by the Company under this subsection shall
immediately cease. The continuation of health benefits under this subsection shall reduce
the period of coverage and count against Executive’s right to healthcare continuation
benefits under COBRA; and




               (vi) Payments falling under Section 10(b)(iv) shall, if to be paid in a lump sum
pursuant to such section, be paid within ten (10) business days after the Executive’s
termination from employment.




               Provided, to the extent applicable under Section 409A as a “deferral of compensation,”
and not as a “short-term deferral” under Treasury Regulation Section 1.409A-1(b)(4), the
payments and benefits payable to Executive under this Section 10(b) shall be subject to the
Safe Harbor and Postponement provided at Section 8(c)(iv).



          (c) EXCISE TAX.





               (i) If it is determined that any amount, right or benefit paid or payable (or otherwise
provided or to be provided) to Executive by the Company or any of its affiliates under this
Agreement or any other plan, program or arrangement under which Executive participates or is
a party, other than amounts payable under this Section 10(d), (collectively, the “Payments”),
would constitute an “excess parachute payment” within the meaning of Section 280G of the
Code, subject to the excise tax imposed by Section 4999 of the Code, as amended from time to
time (the “Excise Tax”), and the present value of such Payments (calculated in a manner
consistent with that set forth in the applicable regulations promulgated under Section 280G
of the Code) is equal to or less than 110% of the threshold at which such amount becomes an
“excess parachute payment,” then the amount of the Payments payable to Executive under this
Agreement shall be reduced (a “Reduction”) to the extent necessary so that no portion of such
Payments payable to Executive is subject to the Excise Tax.




               (ii) In the event it shall be determined that the amount of the Payments payable to
Executive is more than 110% greater than the threshold at which such amount becomes an
“excess parachute payment,” then Executive shall be entitled to receive an additional payment
from the Company (a “Gross-Up Payment”) in an amount such that,



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after payment by Executive of all taxes (including any interest or penalties imposed
with respect to such taxes), including, without limitation, any income and employment taxes
and Excise Tax imposed upon the Gross-Up Payment, Executive retains an amount of the Gross-Up
Payment equal to the Excise Tax imposed upon the Payments.




               (iii) All determinations required to be made under this Section 10(c), including whether
and when a Gross-Up Payment or a Reduction is required, the amount of such Gross-Up Payment
or Reduction and the assumptions to be utilized in arriving at such determination, shall be
made by an independent, nationally recognized accounting firm mutually acceptable to the
Company and Executive (the “Auditor”); provided that in the event a Reduction is determined
to be required, Executive may determine which Payments shall be reduced in order to comply
with the provisions of this Section 10(c). The Auditor shall promptly provide detailed
supporting calculations to both the Company and Executive following any determination that a
Reduction or Gross-Up Payment is necessary. All fees and expenses of the Auditor shall be
paid by the Company. Any Gross-Up Payment, as determined pursuant to this Section 10(c),
shall be paid by the Company to Executive within five (5) days of the receipt of the
Auditor’s determination. All determinations made by the Auditor shall be binding upon the
Company and Executive; provided that if, notwithstanding the Auditor’s initial determination,
the Internal Revenue Service (or other applicable taxing authority) determines that an
additional Excise Tax is due with respect to the Payments, then the Auditor shall recalculate
the amount of the Gross-Up Payment or Reduction Amount, if applicable, based upon the
determinations made by the Internal Revenue Service (or other applicable taxing authority)
after taking into account any additional interest and penalties (the “Recalculated Amount”)
and the Company shall pay to Executive the excess of the Recalculated Amount over the
Gross-Up Payment initially paid to Executive or the amount of the Payments after the
Reduction, as applicable, within five (5) days of the receipt of the Auditor’s recalculation
of the Gross-Up Payment.




               (iv) Without limiting any earlier payment provided under this Section 10(c), the
Gross-Up Payment (or Gross-Up Payments, if applicable) payable to Executive under this
Section 10(c) shall be paid to him not later than the last day of Executive’s taxable year
following the taxable year in which Executive remits the taxes owed by him that result in the
obligation of the Company to pay him such Gross-Up Payment; provided, to the extent
applicable under Section 409A as a “deferral of compensation,” and not as a “short-term
deferral” under Treasury Regulation Section 1.409A-1(b)(4), the payments and benefits payable
to Executive under this Section 10(c) shall be subject to the Safe Harbor and Postponement
provided at Section 8(c)(iv).



     11. LONG-TERM AWARDS. All of Executive’s stock options, stock appreciation rights, restricted
stock units, performance share units and any other long-term incentive awards granted under any
long-term incentive plan of the Company, whether granted before or after the Effective Date
(collectively “Long-Term Awards”), shall remain in effect in accordance with their terms and
conditions, including with respect to the consequences of the termination of Executive’s employment
or a change in control, and shall not be in any way amended, modified or affected by this
Agreement.



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     12. EXECUTIVE COVENANTS.



          (a) CONFIDENTIALITY. Executive agrees that Executive shall not, commencing on the date hereof
and at all times thereafter, directly or indirectly, use, make available, sell, disclose or
otherwise communicate to any person, other than in the course of Executive’s employment and for the
benefit of the Company, any nonpublic, proprietary or confidential information, knowledge or data
relating to the Company, any of its subsidiaries, affiliated companies or businesses, which shall
have been obtained by Executive during Executive’s employment by the Company. The foregoing shall
not apply to information that (i) was known to the public prior to its disclosure to Executive;
(ii) becomes known to the public subsequent to disclosure to Executive through no wrongful act of
Executive or any representative of Executive; or (iii) Executive is required to disclose by
applicable law, regulation or legal process (provided that Executive provides the Company with
prior notice of the contemplated disclosure and reasonably cooperates with the Company at its
expense in seeking a protective order or other appropriate protection of such information).
Notwithstanding clauses (i) and (ii) of the preceding sentence, Executive’s obligation to maintain
such disclosed information in confidence shall not terminate where only portions of the information
are in the public domain.




          (b) NONSOLICITATION. Commencing on the date hereof, and continuing during Executive’s
employment with the Company and for the twelve (12) month period following termination of
Executive’s employment for any reason (a twenty-four (24) month post-employment period in the event
of a termination of Executive’s employment for any reason at any time during a Protection Period)
(“Restricted Period”), Executive agrees that Executive shall not, without the prior written consent
of the Company, directly or indirectly, individually or on behalf of any other person, firm,
corporation or other entity: (i) solicit, recruit or employ (whether as an employee, officer,
director, agent, consultant or independent contractor) any person who was or is at any time during
the six (6) months preceding Executive’s termination of employment an employee, representative,
officer or director of the Company; (ii) take any action to encourage or induce any employee,
representative, officer or director of the Company to cease their relationship with the Company for
any reason; or (iii) knowingly solicit, aid or induce any customer of the Company or any of its
subsidiaries or affiliates to purchase goods or services then sold by the Company or any of its
subsidiaries or affiliates from another person, firm, corporation or other entity or assist or aid
any other persons or entity in identifying or soliciting any such customer.




          (c) NONCOMPETITION. Executive acknowledges that Executive performs services of a unique
nature for the Company that are irreplaceable, and that Executive’s performance of such services to
a competing business will result in irreparable harm to the Company. Accordingly, during the
Restricted Period, Executive agrees that Executive shall not, directly or indirectly, own, manage,
operate, control, be employed by (whether as an employee, consultant, independent contractor or
otherwise, and whether or not for compensation) or render services to any person, firm, corporation
or other entity, in whatever form, engaged in any business of the same type as any business in
which the Company or any of its subsidiaries or affiliates is engaged on the date of termination or
in which they have proposed, on or prior to such date, to be engaged in on or after such date at
any time during the twelve (12)-month period ending with the date of termination for any reason (a
twenty-four month post-employment period in the event of termination of Executive’s employment for
any reason at any time during a


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Protection Period) , in any locale of any country in which the Company conducts business.
This Section 12(c) shall not prevent Executive from owning not more than two percent (2%) of the
total shares of all classes of stock outstanding of any publicly held entity engaged in such
business.




          (d) NONDISPARAGEMENT. Each of Executive and the Company (for purposes hereof, “the Company”
shall mean only (i) the Company by press release or other formally released announcement and (ii)
the executive officers and directors thereof and not any other employees) agrees not to make any
public statements that disparage the other party, or in the case of the Company, its respective
affiliates, employees, officers, directors, products or services. Notwithstanding the foregoing,
statements made in the course of sworn testimony in administrative, judicial or arbitral
proceedings (including, without limitation, depositions in connection with such proceedings) shall
not be subject to this Section 12(d). Executive’s provision shall also not cover normal
competitive statements which do not cite Executive’s employment by the Company.




          (e) RETURN OF COMPANY PROPERTY AND RECORDS. Executive agrees that upon termination of
Executive’s employment, for any cause whatsoever, Executive will surrender to the Company in good
condition (reasonable wear and tear excepted) all property and equipment belonging to the Company
and all records kept by Executive containing the names, addresses or any other information with
regard to customers or customer contacts of the Company, or concerning any proprietary or
confidential information of the Company or any operational, financial or other documents given to
Executive during Executive’s employment with the Company.




          (f) COOPERATION. Executive agrees that, following termination of Executive’s employment for
any reason, Executive shall upon reasonable advance notice, and to the extent it does not interfere
with previously scheduled travel plans and does not unreasonably interfere with other business
activities or employment obligations, assist and cooperate with the Company with regard to any
matter or project in which Executive was involved during Executive’s employment, including any
litigation. The Company shall compensate Executive for reasonable expenses incurred in connection
with such cooperation and assistance.




          (g) ASSIGNMENT OF INVENTIONS. Executive will promptly communicate and disclose in writing to
the Company all inventions and developments including software, whether patentable or not, as well
as patents and patent applications (hereinafter collectively called “Inventions”), made, conceived,
developed, or purchased by Executive, or under which Executive acquires the right to grant licenses
or to become licensed, alone or jointly with others, which have arisen or jointly with others,
which have arisen or may arise out of Executive’s employment, or relate to any matters pertaining
to, or useful in connection therewith, the business or affairs of the Company or any of its
subsidiaries. Included herein as if developed during the employment period is any specialized
equipment and software developed for use in the business of the Company. All of Executive’s right,
title and interest in, to, and under all such Inventions, licenses, and right to grant licenses
shall be the sole property of the Company. Any such Inventions disclosed to anyone by Executive
within one (1) year after the termination of employment for any cause whatsoever shall be deemed to
have been made or conceived by Executive during the Term. As to all such Inventions, Executive
will, upon request of the


12









 







Company execute all documents which the Company deems necessary or proper to enable it to
establish title to such Inventions or other rights, and to enable it to file and prosecute
applications for letters patent of the United States and any foreign country; and do all things
(including the giving of evidence in suits and other proceedings) which the Company deems necessary
or proper to obtain, maintain, or assert patents for any and all such Inventions or to assert its
rights in any Inventions not patented.




          (h) EQUITABLE RELIEF AND OTHER REMEDIES. The parties acknowledge and agree that the other
party’s remedies at law for a breach or threatened breach of any of the provisions of this Section
12 would be inadequate and, in recognition of this fact, the parties agree that, in the event of
such a breach or threatened breach, in addition to any remedies at law, the other party, without
posting any bond, shall be entitled to obtain equitable relief in the form of specific performance,
temporary restraining order, a temporary or permanent injunction or any other equitable remedy
which may then be available.




          (i) REFORMATION. If it is determined by a court of competent jurisdiction in any state that
any restriction in this Section 12 is excessive in duration or scope or is unreasonable or
unenforceable under the laws of that state, it is the intention of the parties that such
restriction may be modified or amended by the court to render it enforceable to the maximum extent
permitted by the law of that state.




          (j) SURVIVAL OF PROVISIONS. The obligations of Executive set forth in this Section 12 shall
survive the termination of Executive’s employment by the Company and the termination or expiration
of this Agreement and shall be fully enforceable thereafter.




     13. NO ASSIGNMENTS.



          (a) This Agreement is personal to each of the parties hereto. Except as provided in Section
13(b) below, no party may assign or delegate any rights or obligations hereunder without first
obtaining the written consent of the other party hereto.




          (b) The Company shall assign this Agreement to any successor to all or substantially all of
the business or assets of the Company provided that the Company shall require such successor to
expressly assume and agree to perform this Agreement in the same manner and to the same extent that
the Company would be required to perform it if no such succession had taken place and shall deliver
a copy of such assignment to Executive.




     14. NOTICE. For the purpose of this Agreement, notices and all other communications provided
for in this Agreement shall be in writing and shall be deemed to have been duly given (a) on the
date of delivery if delivered by hand, (b) on the first business day following the date of deposit
if delivered by guaranteed overnight delivery service, or (d) on the fourth business day following
the date delivered or mailed by United States registered or certified mail, return receipt
requested, postage prepaid, addressed as follows:



	 	 	 
	 

	 	If to Executive:
	 
	 	 
	 

	 	Cathy O. Staples
	 

	 	456 Oakley






13









 






	 	 	 
	 

	 	St. Louis, MO 63105
	 
	 	 
	 

	 	If to the Company:
	 
	 	 
	 

	 	Belden Inc.
	 

	 	7733 Forsyth Boulevard
	 

	 	Suite 800
	 

	 	St. Louis, Missouri 63105
	 

	 	Attn: General Counsel







or to such other address as either party may have furnished to the other in writing
in accordance herewith, except that notices of change of address shall be effective
only upon receipt.



     15. SECTION HEADINGS; INCONSISTENCY. The section headings used in this Agreement are included
solely for convenience and shall not affect, or be used in connection with, the interpretation of
this Agreement. In the event of any inconsistency between this Agreement and any other agreement
(including but not limited to any option, long-term incentive or other equity award agreement),
plan, program, policy or practice of the Company, the terms of this Agreement shall control.



     16. SEVERABILITY. The provisions of this Agreement shall be deemed severable and the
invalidity or unenforceability of any provision shall not affect the validity or enforceability of
the other provisions hereof.



     17. ARBITRATION. Any dispute or controversy arising under or in connection with this
Agreement, other than injunctive relief under Section 12(h) hereof or damages for breach of
Section 12, shall be settled exclusively by arbitration, conducted before a single arbitrator in
St. Louis, Missouri, administered by the American Arbitration Association (“AAA”) in accordance
with its Commercial Arbitration Rules then in effect. The single arbitrator shall be selected by
the mutual agreement of the Company and Executive, unless the parties are unable to agree to an
arbitrator, in which case, the arbitrator will be selected under the procedures of the AAA. The
arbitrator will have the authority to permit discovery and to follow the procedures that Executive
or she determines to be appropriate. The arbitrator will have no power to award consequential
(including lost profits), punitive or exemplary damages. The decision of the arbitrator will be
final and binding upon the parties hereto. Judgment may be entered on the arbitrator’s award in
any court having jurisdiction. Each party shall bear its own legal fees and costs and equally
divide the forum fees and cost of the arbitrator.



     18. INDEMNIFICATION; LIABILITY INSURANCE. The Company and Executive shall enter into the
Company’s standard form of indemnification agreement governing his conduct as an officer and
director of the Company.



     19. AMENDMENTS; WAIVER. No provision of this Agreement may be modified, waived or discharged
unless such waiver, modification or discharge is agreed to in writing and signed by Executive and
such officer or director as may be designated by the Board. No waiver by either party hereto at
any time of any breach by the other party hereto of, or compliance with,



14









 







any condition or provision of this Agreement to be performed by such other party shall be
deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or
subsequent time.



     20. ENTIRE AGREEMENT; MISCELLANEOUS. This Agreement together with the exhibit hereto sets
forth the entire agreement of the parties hereto in respect of the subject matter contained herein.
No agreements or representations, oral or otherwise, express or implied, with respect to the
subject matter hereof have been made by either party which are not expressly set forth in this
Agreement. The validity, interpretation, construction and performance of this Agreement shall be
governed by the laws of the State of Delaware without regard to its conflicts of law principles.
The descriptive headings in this Agreement are inserted for convenience of reference only and are
not intended to be part of or to affect the meaning or interpretation of this Agreement. The use
of the word “including” in this Agreement shall be by way of example rather than by limitation and
of the word “or” shall be inclusive and not exclusive.



     21. CODE SECTION 409A.



          (a) It is intended that any amounts payable under this Agreement and the Company’s and
Executive’s exercise of authority or discretion hereunder shall comply with the provisions of
Section 409A and the Treasury Regulations relating thereto so as not to subject Executive to the
payment of interest and tax penalty which may be imposed under Section 409A. In furtherance of
this interest, anything to the contrary herein notwithstanding, no amounts shall be payable to
Executive before such time as such payment fully complies with the provisions of Section 409A and,
to the extent that any regulations or other guidance issued under Section 409A after the date of
this Agreement would result in Executive being subject to payment of interest and tax penalty under
Section 409A, the parties agree to amend this Agreement in order to bring this Agreement into
compliance with Section 409A.




          (b) With regard to any provision herein that provides for the reimbursement of expenses or the
provision of in-kind benefits, except as permitted by Section 409A, (i) all such reimbursements
shall be made within a commercially reasonable time after presentation of appropriate documentation
but in no event later than the end of the year immediately following the year in which Executive
incurs such reimbursable expenses, (ii) no such reimbursements or in-kind benefits will affect any
other costs or expenses eligible for reimbursement, or any other in-kind benefits to be provided,
in any other year and (iii) no such reimbursements or in-kind benefits are subject to liquidation
or exchange for another payment or benefit.




          (c) Without limiting the discretion of either the Company or the Executive to terminate the
Executive’s employment hereunder for any reason (or no reason), solely for purposes of compliance
with 409A a termination of employment shall not be deemed to have occurred for purposes of any
provision of this Agreement providing for the payment of any amounts or benefits upon or following
a termination of employment unless such termination is also a separation from service (within the
meaning of Treasury Regulation Section 1.409A-1(h) (applying the 20% default post-separation limit
thereunder)) as an employee and, for purposes of any such provision of this Agreement, references
to a “termination” or “termination of employment” shall mean separation from service as an employee
and such payments shall


15









 







thereupon be made at or following such separation from service as an employee as provided
hereunder.




     22. FULL SETTLEMENT. Except as set forth in this Agreement, the Company’s obligation to make
the payments provided for in this Agreement and otherwise to perform its obligations hereunder
shall not be affected by any circumstances, including without limitation, set-off, counterclaim,
recoupment, defense or other claim, right or action which the Company may have against Executive or
others, except to the extent any amounts are due the Company or its subsidiaries or affiliates
pursuant to a judgment against Executive. In no event shall Executive be obliged to seek other
employment or take any other action by way of mitigation of the amounts payable to Executive under
any of the provisions of this Agreement, nor shall the amount of any payment hereunder be reduced
by any compensation earned by Executive as a result of employment by another employer, except as
set forth in this Agreement.



     23. WITHHOLDING. The Company may withhold from any and all amounts payable under this
Agreement such federal, state and local taxes as may be required to be withheld pursuant to any
applicable law or regulation.



     24. AGREEMENT OF THE PARTIES. The language used in this Agreement will be deemed to be the
language chosen by the parties hereto to express their mutual intent, and no rule of strict
construction will be applied against any party hereto. Neither Executive nor the Company shall be
entitled to any presumption in connection with any determination made hereunder in connection with
any arbitration, judicial or administrative proceeding relating to or arising under this Agreement.



     25. COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall
be deemed to be an original but all of which together will constitute one and the same instrument.



16









 





     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year
first written above.



	 	 	 	 	 	 	 
	 	 	BELDEN INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ John Stroup	 	 
	 

	 	 	 	 

	 	 
	 

	 	 	 	John Stroup, President and Chief	 	 
	 

	 	 	 	Executive Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Cathy O. Staples	 	 
	 

	 	 	 	 

Cathy O. Staples
	 	 






17









 






EXHIBIT A




GENERAL RELEASE OF ALL CLAIMS




     1. For and in consideration of the promises made in the Executive Employment Agreement
(defined below), the adequacy of which is hereby acknowledged, the undersigned (“Executive”), for
himself, his heirs, administrators, legal representatives, executors, successors, assigns, and all
other persons claiming through Executive, if any (collectively, “Releasers”), does hereby release,
waive, and forever discharge Belden Inc. (“Company”), the Company’s subsidiaries, parents,
affiliates, related organizations, employees, officers, directors, attorneys, successors, and
assigns (collectively, the “Releasees”) from, and does fully waive any obligations of Releasees to
Releasers for, any and all liability, actions, charges, causes of action, demands, damages, or
claims for relief, remuneration, sums of money, accounts or expenses (including attorneys’ fees and
costs) of any kind whatsoever, whether known or unknown or contingent or absolute, which heretofore
has been or which hereafter may be suffered or sustained, directly or indirectly, by Releasers in
consequence of, arising out of, or in any way relating to Executive’s employment with the Company
or any of its affiliates or the termination of Executive’s employment. The foregoing release and
discharge, waiver and covenant not to sue includes, but is not limited to, all claims and any
obligations or causes of action arising from such claims, under common law including wrongful or
retaliatory discharge, breach of contract (including but not limited to any claims under the
Employment Agreement between the Company and Executive, effective as of July 16, 2007, (the
“Employment Agreement”) and any claims under any stock option and restricted stock units agreements
between Executive and the Company) and any action arising in tort including libel, slander,
defamation or intentional infliction of emotional distress, and claims under any federal, state or
local statute including Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866 and
1871 (42 U.S.C. § 1981), the National Labor Relations Act, the Age Discrimination in Employment Act
(ADEA), the Fair Labor Standards Act, the Americans with Disabilities Act of 1990, the
Rehabilitation Act of 1973, the Missouri Human Rights Act (R.S. MO Section 213.010 et seq.), or the
discrimination or employment laws of any state or municipality, or any claims under any express or
implied contract which Releasers may claim existed with Releasees. This release and waiver does
not apply to any claims or rights that may arise after the date Executive signs this General
Release. The foregoing release does not apply to any claims of indemnification under the
Employment Agreement or a separate indemnification agreement with the Company or rights of coverage
under directors and officers liability insurance.



     2. Excluded from this release and waiver are any claims which cannot be waived by law,
including but not limited to the right to participate in an investigation conducted by certain
government agencies. Executive does, however, waive Executive’s right to any monetary recovery
should any agency (such as the Equal Employment Opportunity Commission) pursue any claims on
Executive’s behalf. Executive represents and warrants that Executive has not filed any complaint,
charge, or lawsuit against the Releasees with any government agency or any court.



     3. Executive agrees never to sue Releasees in any forum for any claim covered by the above
waiver and release language, except that Executive may bring a claim under the ADEA to challenge
this General Release or as otherwise provided in this General Release. If



 









 







Executive violates this General Release by suing Releasees, other than under the ADEA or as
otherwise set forth in Section 1 hereof, Executive shall be liable to the Company for its
reasonable attorneys’ fees and other litigation costs incurred in defending against such a suit.
Nothing in this General Release is intended to reflect any party’s belief that Executive’s waiver
of claims under ADEA is invalid or unenforceable, it being the interest of the parties that such
claims are waived.



     4. Executive acknowledges, agrees and affirms that he is subject to certain post-employment
covenants pursuant to Section 12 of the Employment Agreement, which covenants survive the
termination of his employment and the execution of this General Release.



     5. Executive acknowledges and recites that:



          (a) Executive has executed this General Release knowingly and voluntarily;




          (b) Executive has read and understands this General Release in its entirety;




          (c) Executive has been advised and directed orally and in writing (and this subparagraph (c)
constitutes such written direction) to seek legal counsel and any other advice he wishes with
respect to the terms of this General Release before executing it;




          (d) Executive’s execution of this General Release has not been coerced by any employee or
agent of the Company; and




          (e) Executive has been offered twenty-one (21) calendar days after receipt of this General
Release to consider its terms before executing it.




     6. This General Release shall be governed by the internal laws (and not the choice of laws) of
the State of Delaware, except for the application of pre-emptive Federal law.



     7. Executive shall have seven (7) days from the date hereof to revoke this General Release by
providing written notice of the revocation to the Company, as provided in Section 14 of the
Employment Agreement, upon which revocation this General Release shall be unenforceable and null
and void and in the absence of such revocation this General Release shall be binding and
irrevocable by Executive.



     PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.



	 	 	 	 	 	 	 
	Date:                     , 20__	 	EXECUTIVE:	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

Cathy O. Staples
	 	 







D-2