Exhibit 10.1





 


AMENDMENT TO 


EMPLOYMENT AGREEMENT


 


THIS AMENDMENT TO EMPLOYMENT AGREEMENT (“Amendment”)
is made and entered into effective as of the date provided below, by and between Concurrent Computer Corporation (the “Company”)
and Derek Elder (“Executive”).


 


WHEREAS, the Company and Executive (“Executive”)
previously entered into the Employment Agreement dated November 18, 2014 (“Agreement”); and


 


WHEREAS, pursuant to the Agreement, the
Company granted to Executive a total of 120,000 restricted stock awards (“RSAs”), which RSAs are scheduled to vest
in two equal installments on the first and second anniversaries of the effective date of the Agreement, provided that Executive
remains employed by the Company on each such vesting date; and


 


WHEREAS, the Company and Executive desire
to amend the Agreement to rescind all of the RSAs previously granted to Executive, and to reflect the Company’s agreement
to grant the Executive additional RSAs and a cash bonus, each as set forth herein.


 


NOW, THEREFORE, in consideration of Executive’s
continued employment with the Company, and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereby agree as follows:


 


1.Section 4.3 of the Agreement is hereby
deleted in its entirety. Executive agrees, understands and acknowledges that the rescission of the 120,000 RSAs previously granted
under the Agreement, as provided in this Amendment, is retroactive to the date of grant provided in the Agreement and shall have
no force or effect as of such date.


 


2.In connection with the Executive entering
into this Amendment, the Company shall: (i) pay to the Executive a one-time cash bonus in the amount of $332,400, less all applicable
tax withholdings, within thirty (30) days following the effective date of this Amendment, and (ii) award to the Executive 45,000
RSAs, subject to the approval of the Compensation Committee of the Board of Directors (the “Committee”) and subject
to the terms of the Company’s Amended and Restated 2011 Stock Incentive Plan, which shall vest in three (3) equal installments
on the first, second and third anniversaries of the effective date of this Amendment, provided the Employee is employed by the
Company on such vesting date. Notwithstanding the foregoing, the RSAs shall become 100% vested in the event Employee’s employment
is terminated because of death or Disability. For purposes of this Amendment, “Disability” shall mean the inability
to perform the essential functions connected with the Employee's duties hereunder, with or without reasonable accommodation, which
inability shall have existed or shall reasonably be expected to exist for a period of 180 days, even though not consecutive, in
any 24 month period.


 


3.The Company shall also award to the
Executive an aggregate of 55,000 RSAs in January 2016, subject to the approval of the Committee and the Board of Directors and
subject to the terms of the Company’s Amended and Restated 2011 Stock Incentive Plan, with (1) 15,000 RSAs to vest in three
(3) equal installments on the first, second and third anniversaries of the grant date and (2) 40,000 RSAs to vest on the third
anniversary of the grant date, provided in each case that the Executive is employed by the Company on such vesting date. Notwithstanding
the foregoing, the RSAs shall become 100% vested in the event the Executive’s employment is terminated because of death or
Disability.


 


4.Except as amended herein, the Agreement
shall remain in full force and effect.


 




     


     


    

 


IN WITNESS WHEREOF, the Company and Executive
have executed this Amendment this 15th day of October, 2015.


 


 





	 	CONCURRENT COMPUTER CORPORATION
	 	 
	 	By:  /s/ Steve Nussrallah
	 	Name:  Steve Nussrallah
	 	Title:  Chairman
	 	 
	 	 
	 	 
	 	 
	 	EXECUTIVE
	 	 
	 	/s/ Derek Elder
	 	Derek Elder