Document:

EX-4.4

		
		 	Exhibit 4.4	 

	

AMERICAN
INTERNATIONAL PETROLEUM CORPORATION

2000 Stock
Award Plan

     1.  
Purpose of the Plan. The AMERICAN INTERNATIONAL PETROLEUM CORPORATION
2000 Stock Award Plan (the “Plan”) is intended to attract, retain,
motivate and reward employees and officers of, and consultants to, AMERICAN
INTERNATIONAL PETROLEUM CORPORATION (the “Company”) and its Affiliates
who are and will be contributing to the success of the business; to provide
competitive incentive compensation opportunities; and to further opportunities
for stock ownership by such employees, officers, and consultants in order to
increase their proprietary interest in the Company. Affiliates shall mean any
corporation or other business organization in which the Company owns, directly
or indirectly, 50% or more of the voting stock or capital at the time of the
granting of such award. Accordingly, the Company may from time to time, grant to
selected employees, officers and consultants (“participants”) awards
(“awards”) of shares of Common Stock of the Company $.08 par value
(“Stock”), together with, to the extent determined by the Company in
its sole discretion at the time of the grant of the award, reimbursement by the
Company of amounts payable by the recipient of the award as a consequence of any
such award (“Cash Amount”), subject to the terms and conditions
hereinafter provided. 

     2.  
Administration of the Plan. The Plan shall be administered by the Board
of Directors of the Company as such Board of Directors may be composed from time
to time and/or by a Stock Grant Committee or Compensation Committee (the
“Committee”) which shall be comprised of solely of at least two
Outside Directors (as such term is defined in regulations promulgated from time
to time with respect to Section 162(m)(4)(C)(i) of the Code) appointed by such
Board of Directors of the Company. As and to the extent authorized by the Board
of Directors of the Company, the Committee may exercise the power and authority
vested in the Board of Directors under the Plan. The Board of Directors or the
Committee to the extent authorized by the Board of directors, is authorized to
interpret the Plan and may from time to time adopt such rules and regulations
for carrying out the Plan as it deems appropriate, including rules and
regulations to comply with the requirements of Rule 16b-3 under the Securities
Exchange Act of 1934 and Section 162(m) of the Code. Decisions of the Board of
directors and/or the Committee in connection with the administration of the Plan
shall be final, conclusive, and binding upon all parties including the Company,
stockholders, employees and consultants. 

     In
addition to such other rights of indemnification as they have as directors or as
members of the Committee, the members of the Board of Directors and the
Committee shall be indemnified by the Company against reasonable expenses
(including, without limitation, attorneys’ fees) actually and necessary
incurred in connection with the defense of any action, suit or proceeding, or in
connection with any appeal, to which they or any of them may be a party by
reason of any action taken or failure to act under or in connection with the
Plan or any awards granted hereunder, and against all amounts paid by them in
settlement thereof (provided such settlement is approved to the extent required
by and in the manner provided by the Certificate of Incorporation and Bylaws of
the Company relating to indemnification of directors) or paid by them in
satisfaction of a judgment in any such action, suit or proceeding, except in
relation to matters as to which it shall be adjudged in such action, suit or
proceeding that such Director or Committee member or members did not act in good
faith and in a manner he, she or they reasonably believed to be in or not
opposed to the best interest of the Company. 

	

     Subject
to the terms, provisions, and conditions of the Plan as set forth herein, the
Board of Directors and the Committee, to the extent authorized by the Board of
directors, shall have sole discretion and authority: 

		(a) 		to
select the employees, officers, and consultants to be awarded Stock (it being understood
that more than one award may be granted to the same person);

		(b) 		to
determine the number of shares to be awarded to each recipient and whether or not to
grant any Cash Amount which may be granted in tandem therewith;

		(c) 		to
determine the time or times when the awards may be granted; and

		(d) 		to
prescribe the form of stock legend for the certificates of shares of Stock or other
instruments, if any, evidencing any awards granted under this Plan.

	

     3.  
Stock Subject to the Plan. The aggregate number of shares of Stock which
may be awarded under the Plan shall not exceed 500,000 shares of Stock of the
Company. In the event that the outstanding shares of Common Stock are hereafter
changed by reason of recapitalization, reclassification, stock split-up,
combination or exchange of shares of Common Stock or the like, or by the
issuance of dividends payable in shares of Common Stock, an appropriate
adjustment shall be made by the Board of Directors, as determined by the Board
of Directors and/or the Committee, in the aggregate number of shares of Common
Stock available under the Plan. Shares to be awarded under the Plan shall be
made available, at the discretion of the Committee, either from the authorized
but unissued shares of Stock of the Company or from shares of Stock reacquired
by the Company, including shares purchased in the open market. 

     4.  
Eligibility. Stock shall be awarded only to employees of and consultants to the Company
(the term “employees” shall include officers as well as other key employees of the
Company, and shall include directors who are also key employees of the Company). 

     5.  
Awards and Certificates. (a) Each recipient shall be issued a certificate
in respect of shares of Stock awarded under the Plan. Each certificate shall be
registered in the name of the participant, and shall bear an appropriate
restrictive legend on its face, which legend shall be subject to removal
pursuant to an effective registration statement or an opinion of counsel
satisfactory to the Company that such registration is not required. The Company
may register, on behalf of the recipients, shares issued pursuant to the Plan.
Notwithstanding anything contained herein to the contrary, no recipient shall be
entitled to more than 20% of the aggregate number of shares of Common stock
issuable pursuant to awards under the Plan. 

     (b)
The Board of Directors or Committee may, in its sole discretion, grant to a
recipient of an award, a Cash Amount not to exceed the federal, state and local
taxes the recipient must pay as a result of the fair market value of the award
being included in income for federal, state and local; income tax purposes. The
grant of a Cash Amount to one recipient shall in no way require the Board of
Directors or the Committee to grant a Cash Amount to any other recipient of an
award. 

	

     6.  
Termination and Amendment. The Committee may amend, suspend, or terminate the Plan at any
time provided that no such modification without the approval of stockholders shall: 

	 	
(a)
increase the maximum number of shares of Stock which are available for awards under the
Plan;

	 	
(b)
extend the period during which awards may be granted under the Plan beyond July 1,2010; or

	 	
(c)
impair the rights of any recipient under any award.

	

     7.  
Miscellaneous. 

		(a) 		Nothing
in the Plan shall require the Company to issue or transfer any shares pursuant to an
award if such issuance or transfer would, in the opinion of the Committee, constitute or
result in a violation of any applicable statute or regulation of any jurisdiction
relating to the disposition of securities.

		(b) 		Notwithstanding
any other provision of the Plan, the Committee may at any time make or provide for such
adjustment to the Plan, to the number of shares available thereunder, or to any awards of
Stock as it shall deem appropriate, to prevent dilution or enlargement of rights,
including adjustments in the event of changes in the number or outstanding shares of
Stock by reason of stock dividends or distributions, stock splits or other combinations
or subdivisions of stock, recapitalization, issuances by reclassification, mergers,
consolidations, combinations or exchanges of shares, separations, reorganizations,
liquidations, or other similar corporate changes. Any such determination by the Committee
shall be conclusive.

		(c) 		No
employee, consultant or other person shall have any claim or right to be granted shares
of Stock under the Plan, and neither the Plan nor any action taken thereunder shall be
construed as giving any participant, recipient, employee, consultant or other person any
right to be retained in the employ of or by the Company and/or an Affiliate.

		(d) 		A
recipient who receives an award shall have rights as a share owner with respect to the
Stock covered by such award to receive dividends in cash or other property or other
distributions or rights in respect of such stock and to vote the Stock as the record
owner thereof.

		(e) 		Income
realized as a result of an award of stock shall not be included in the recipient’s
earnings for the purpose of any benefit plan in which the recipient may be enrolled or
for which the recipient may become eligible unless otherwise specifically provided for in
such plan.

		(f) 		If
and when a recipient is required to pay the Company an amount required to be withheld
under any federal, state or local income tax laws in connection with an award of stock
under the Plan, the Committee may, in its sole discretion and subject to such rules as it
may adopt, permit the participant to satisfy the obligation, in whole or in part, by
electing to have the Company withhold shares of Common Stock having a fair market value
equal to the amount required to be withheld. The election to have shares withheld must be
made on or before the date the amount of tax to be withheld is determined.

		(g) 		The
Plan and all determinations made and actions taken pursuant thereto shall be governed by
the laws of the State of Nevada and construed in accordance therewith.

	

     8.  
Effective Date and Term of the Plan. The effective date of the Plan shall be July 11,
2000, subject to approval by the stockholders of the Company at the 2000 Annual Meeting
of Stockholders. Notwithstanding the foregoing, awards of Stock may be made by the
Committee as provided herein, subject to such subsequent stockholder approval. No awards
of Stock may be made under the Plan after July 11, 2010. 

AMERICAN INTERNATIONAL
PETROLEUM CORPORATIONCredit Management Solutions, Inc.

	

EMPLOYMENT AGREEMENT

     This
Employment Agreement (the “Agreement”), is made and entered into this 27th day of June,
2000, by and between Credit Management Solutions, Inc., a Delaware corporation with
principal offices located at 135 National Business Parkway, Annapolis Junction, Maryland
20701 (the “Company”), and Miles Grody (the “Executive”). 

WITNESSETH 

     WHEREAS,
the Company has a need for the Executive’s personal services in an executive capacity; and 

     WHEREAS,
the Executive possesses the necessary strategic, financial, planning, operational and
managerial skills necessary to fulfill those needs; and 

     WHEREAS,
the Executive and the Company desire to enter into a formal Employment Agreement to fully
recognize the contributions of the Executive to the Company and to assure continuous
harmonious performance of the affairs of the Company. 

     NOW,
THEREFORE, in consideration of the mutual promises, terms, provisions, and conditions
contained herein, the receipt and sufficiency of which is hereby acknowledged, the
parties agree as follows: 

1. Definitions. For purposes of this
Agreement, the following capitalized terms shall have the following meanings: 

     a.
“Affiliate” means any person or entity (i) that directly or indirectly owns more than
fifty percent (50%) of the Voting Stock (as defined below) of the Company, or (ii) more
than fifty percent (50%) of the Voting Stock of which is directly or indirectly owned by
the Company, or (iii) more than fifty percent (50%) of the Voting Stock of which is
directly or indirectly owned by another person or entity that directly or indirectly owns
more than fifty percent (50%) of the Voting Stock of the Company. 

     b.
“Change of Control” of a company means the occurrence of any of the following: 

	 	
     (i)
any “person,” as such term is currently used in Section 13(d) of the Securities Exchange
Act of 1934, becomes a “beneficial owner,” as such term is currently used in Rule 13d-3
promulgated under that Act of fifty percent (50%) or more of the Voting Stock of the
company;

	 	
     (ii)
a majority of the Board of Directors of the company consists of individuals other than
Incumbent Directors, which term means the members of the Board on the date hereof;
provided that any individual becoming a director subsequent to such date whose election
or nomination for election was supported by two-thirds of the directors who then
comprised the Incumbent Directors shall be considered to be an Incumbent Director;

	 	
     (iii)
the Board of Directors of the company adopts any plan of liquidation providing for the
distribution of all or substantially all of the company’s assets;

	 	
     (iv)
all or substantially all of the assets or business of the company are disposed of in any
one or more transactions pursuant to a merger, consolidation or other transaction (unless
the shareholders of the company immediately prior to such merger, consolidation or other
transaction beneficially own, directly or indirectly, in substantially the same
proportion as they owned the Voting Stock of the company, all of the Voting Stock or
other ownership interests of the entity or entities, if any, that succeed to the business
of the company); provided, however, that this subsection (iv) shall not apply in the
event of a merger or consolidation of the Company with an Affiliate; or

	 	
     (v)
the company combines with another company and is the surviving corporation but,
immediately after the combination, the shareholders of the company immediately prior to
the combination hold, directly or indirectly, fifty percent (50%) or less of the Voting
Stock of the combined company, (there being excluded from the number of shares held by
such shareholders, but not from the Voting Stock of the combined company, any shares
received by affiliates of such other company in exchange for securities of such other
company); provided, however, that this subsection (v) shall not apply in the event of a
combination of the Company with an Affiliate.

	

     c.
“Good Reason” means any of the following events: 

	 	
     (i)
a reduction in annual Salary (as defined below);

	 	
     (ii)
a failure by the Company, or Affiliate by which the Executive is employed, to provide
fringe benefits comparable to those offered to the Executive’s peer executives;

	 	
     (iii)
the failure of the Company, or Affiliate by which the Executive is employed, to obtain by
operation of law or otherwise the assumption of its obligations to perform this Agreement
from any successor to all or substantially all of the assets of the Company or such
Affiliate; or

	 	
     (iv)
a relocation of the Executive’s worksite to a location which increases the distance from
the Executive’s home to his worksite by more than fifty (50) miles.

	

     
“Good Reason Upon Change In Control” means any of the following events provided the event
occurs either (i) less than eighteen (18) months after a Change in Control of the
Company, or an Affiliate if the Executive is employed at that time by such Affiliate or
the Company, or (ii) during the one-hundred and eighty (180) day or shorter time period
between (x) the execution by Company (or such Affiliate) and a third party of a letter of
intent or term sheet reflecting the terms of such Change in Control, or receipt by the
Company (or such Affiliate) of a written offer from a third party reflecting such Change
in Control, and (y) the effective date of such Change in Control: 

	 	(A)
any of the events which constitute Good Reason under Section 1(c) above;

	 	(B)
a material diminution in the Executive’s duties or responsibilities; provided that a
diminution shall not be deemed to have occurred solely because that Executive no longer
has duties and responsibilities for a particular Affiliate as long as the Executive
continues to have the same level, type and scope of duties and responsibilities as he had
prior to the Change in Control; or

	 	(C)
the assignment to the Executive of duties that materially impair his ability to perform
the duties normally assigned to a person of his title and position at a corporation of
the size and nature of the Company or Affiliate by which the Executive is employed (as
applicable).

	

     e.
“Voting Stock” means the issued and outstanding capital stock or other securities of any
class or classes having general voting power under ordinary circumstances, in the absence
of contingencies, to elect the directors of a corporation. 

     f.
“Termination Without Cause Upon Change in Control” means termination of the Executive’s
employment without “Cause” (as defined in Section 5(a) below) either (i) less than
eighteen (18) months after a Change in Control of the Company , or an Affiliate if the
Executive is employed at that time by such Affiliate or the Company, or (ii) during the
one-hundred and eighty (180) day or shorter time period between (x) the execution by
Company (or such Affiliate) and a third party of a letter of intent or term sheet
reflecting the terms of such Change in Control, or receipt by the Company (or such
Affiliate) of a written offer from a third party reflecting such Change in Control, and
(y) the effective date of such Change in Control. 

2. Position. 

     The
Company hereby agrees to continue to employ the Executive to serve in the role of
President and Chief Executive Officer of CMSI Systems, Inc. The Company reserves the
right to change the Executive’s title, duties and/or responsibilities, and to reassign
the Executive to or from any Affiliate. The Executive accepts such employment upon the
terms and conditions set forth herein, and further agrees to perform to the best of his
abilities the duties generally associated with his position, as well as such other duties
as may be reasonably assigned by the Board of Directors of the Company (the “Board”), the
Chief Executive Officer or President of the Company, and, if the Executive is employed by
an Affiliate, the Chief Executive Officer, President or Board of Directors of such
Affiliate. The Executive shall perform his duties diligently and faithfully and shall
devote his full business time and attention to such duties. Each party’s rights and
obligations under this Section 2 are subject to Section 5 below. 

3. Term of Employment and Renewal. 

     The
term of the Executive’s employment under this Agreement (the “Term”) will commence on the
date of this Agreement (the “Effective Date”) and continue until terminated in accordance
with Section 5 below. 

	

4. Compensation and Benefits. 

     (a)
Salary. Commencing on the Effective Date, the Company agrees to pay the Executive a base
salary at an annual rate of one hundred and seventy-five thousand Dollars ($175,000),
payable in such installments as is the policy of the Company (the “Salary”), but no less
frequently than monthly. Thereafter, the Company shall evaluate the Executive’s Salary
from time to time and make adjustments, in its discretion, subject to the rights and
obligations set forth in Section 5 below. 

     (b)
Bonus. In its sole discretion, the Company may make the Executive eligible to receive
bonuses based on criteria to be determined by the Company and issued to the Executive in
writing, in which event the Executive shall be entitled to receive such bonuses in
accordance with such criteria. 

     (c)
Benefits. The Executive shall be entitled to participate in all employee benefit plans
which the Company provides or may establish from time to time for the benefit of its
employees, including, without limitation, group life, medical, surgical, dental and other
health insurance, short and long-term disability, deferred compensation, profit-sharing
and similar plans. The Executive shall also be entitled to one hundred eighty four (184)
hours of paid leave per year of employment, plus sick leave in accordance with standard
Company policy. Two-thirds of any unused portion of such paid leave shall be considered
to be vacation and, therefore, shall be paid to the Executive upon his cessation of
employment with the Company. The Company will provide term life insurance for the
Executive with benefits equal to his annual Salary, up to a maximum of four hundred
thousand dollars ($400,000). The Company may also purchase one or more “key man”
insurance policies on the Executive’s life, each of which will be payable to and owned by
the Company. The Company, in its sole discretion, may select the amount and type of key
man life insurance purchased, and the Executive will have no interest in any such policy.
The Executive will cooperate with the Company in securing this key man insurance, by
submitting to all required medical examinations, supplying all information and executing
all documents required in order for the Company to secure the insurance. 

     (d)
Stock Options. In the sole discretion of the Board, the Company may from time to time
issue the Executive stock option grants under the Company’s stock option plan and a stock
option agreement, in which event the Executive shall be entitled to such options in
accordance with such plan and agreement(s), subject however to the provisions of this
Agreement regarding stock options. 

     (e)
Expenses. The Company shall pay or reimburse the Executive for all reasonable
out-of-pocket expenses actually incurred by the Executive during the Term in performing
services hereunder, provided that the Executive properly accounts for such expenses in
accordance with the Company’s policies. The Company shall pay the Executive an automobile
allowance of no less than five hundred dollars ($500) per month through normal payroll
procedures, and such allowance shall be reported as income on the Executive’s year-end
W-2 form. The Executive shall be responsible for submitting automobile expense
reimbursement requests to the extent he wishes to convert any portion of the allowance to
an expense reimbursement. The Company shall reimburse the Executive for cellular
telephone expenses associated with business use. 

	

5. Termination and Severance;
Certain Events. 

     (a)
Termination by the Company for Cause. Notwithstanding anything to the contrary in this
Agreement, the Company may terminate the Executive’s employment for Cause at any time,
upon written notice to the Executive setting forth in reasonable detail the nature of
such Cause. For purposes of this Agreement, “Cause” is defined as (i) the Executive’s
continued failure to perform his duties (other than due to physical incapacity or
illness) after thirty (30) days’ written notice and opportunity to cure; (ii) the
Executive’s conviction of any felony; (iii) the Executive’s material misrepresentation of
his professional qualifications; (iv) willful or reckless conduct by the Executive
injurious to the Company or any Affiliate; or (v) the Executive’s commission of fraud or
malfeasance. Upon the termination for Cause of the Executive’s employment, the Company
and its Affiliates shall have no further obligation or liability to the Executive other
than for Salary earned prior to the date of termination and any accrued but unused
vacation. 

     (b)
Termination by the Company Without Cause. Notwithstanding anything to the contrary in
this Agreement, the Executive’s employment hereunder may be terminated at any time
without Cause by the Company upon fourteen (14) days’ written notice to the Executive,
provided, however, that if the Company terminates the Executive’s employment without
Cause the Company shall (i) pay the Executive on the effective date of termination all
earned and unpaid Salary, earned and unpaid bonuses, and accrued and unused vacation;
(ii) continue to pay the Executive the Salary and shall provide medical, life and
disability coverage, under the same conditions as exist at the time of termination, for a
six (6) month period beginning on the effective date of the termination; and (iii)
notwithstanding anything to the contrary in any stock option agreement, any unvested
stock options granted to the Executive shall accelerate and vest in full on the effective
date of termination, and the Executive may exercise such options at any time up to
two-hundred and seventy (270) days after the effective date of termination of his
employment. As a condition of receiving such benefits pursuant to this Agreement, the
Executive shall execute and deliver to the Company prior to his receipt of such benefits
a general release substantially in the form attached hereto as Exhibit A, provided the
Company executes such release and delivers an executed counterpart to the Executive.
Notwithstanding anything to the contrary in this Section 5(b), if the termination
constitutes a Termination Without Cause Upon Change in Control, then the Executive shall
receive the benefits set forth in Section 5(d) below rather than as set forth in this
Section 5(b). 

     (c)
Termination by the Executive. Notwithstanding anything to the contrary in this Agreement,
the Executive may terminate his employment hereunder upon thirty (30) days written notice
to the Company provided that the Company may pay the Executive his Salary in lieu of any
portion of such notice period. The Executive may also terminate his employment hereunder
after giving the Company written notice no more than thirty (30) days after the
occurrence of an event which constitutes Good Reason, in which event the Company shall
(i) pay the Executive on the effective date of termination all earned and unpaid Salary,
earned and unpaid bonuses, and accrued and unused vacation; (ii) continue to pay the
Executive the Salary and shall provide medical, life and disability coverage, under the
same conditions as exist at the time of termination, for a six (6) month period beginning
on the effective date of the termination, provided the Company executes such release and
delivers an executed counterpart to the Executive; and (iii) notwithstanding anything to
the contrary in any stock option agreement, any unvested stock options granted to the
Executive shall accelerate and vest in full on the effective date of termination, and the
Executive may exercise such options at any time up to two-hundred and seventy (270) days
after the effective date of termination of his employment. As a condition of receiving
such benefits pursuant to this Agreement, the Executive shall execute and deliver to the
Company prior to his receipt of such benefits a general release substantially in the form
attached hereto as Exhibit A, provided the Company shall execute such release and deliver
an executed counterpart to the Executive. Notwithstanding anything to the contrary in
this Section 5(c), if the Executive terminates his employment for Good Reason Upon Change
in Control, then the Executive shall receive the benefits set forth in Section 5(d) below
rather than as set forth in this Section 5(c). 

	

     (d)
Termination By Company or Executive After Change in Control. Notwithstanding anything to
the contrary in this Agreement, in the event of a Termination Without Cause Upon Change
in Control, or termination by the Executive for Good Reason Upon Change in Control, the
Company shall provide the Executive the following benefits: (i) all earned and unpaid
Salary and bonuses; (ii) all accrued and unused vacation; (iii) a lump sum payment equal
to 2.99 times the Executive’s average annual cash compensation during the previous five
(5) years (or, if the Executive has been employed by the Company for a shorter period,
then the average during such shorter period); (iv) notwithstanding anything to the
contrary in any stock option agreement, upon the Executive acknowledging in a signed
writing the surrender of all his rights to vested and unvested stock options granted to
him by the Company, a lump sum equal to the difference between the exercise price of such
stock options and the higher of (x) the fair market value of the option shares on the
effective date of the termination, or (y) the highest effective price paid for the
Company’s common stock by any acquirer in connection with the Change in Control; (v)
medical, life and disability coverage for a period of twelve (12) months after the
effective date of the termination, or until the Executive receives comparable coverage
from another employer, whichever occurs first; and (vi) all accrued retirement and
deferred compensation plans vest in full. Items (i) through (iv) shall be paid to the
Executive within twenty (20) days after the effective date of the termination. As a
condition of receiving such benefits pursuant to this Agreement, the Executive shall
execute and deliver to the Company prior to his receipt of such benefits a general
release substantially in the form attached hereto as Exhibit A, provided the Company
shall execute such release and deliver an executed counterpart to the Executive. 

     (e)
Death. In the event of the Executive’s death during the Term of this Agreement, the
Executive’s employment hereunder shall immediately and automatically terminate, and the
Company shall (i) pay the Executive’s estate or beneficiaries within a reasonable period
after the effective date of termination all earned, unpaid Salary, all earned, unpaid
bonuses and all accrued unused vacation; and (ii) notwithstanding anything to the
contrary in any stock option agreement, any unvested stock options granted to the
Executive shall accelerate and vest in full on the effective date of termination. As a
condition of receiving such benefits pursuant to this Agreement, the recipient(s) of
benefits under this subsection shall execute and deliver to the Company prior to receipt
of such benefits a general release substantially in the form attached hereto as Exhibit
A, provided the Company shall execute such release and deliver an executed counterpart to
such recipient(s). 

	

     
Disability. Notwithstanding anything to the contrary in the Agreement, the Company may
terminate the Executive’s employment hereunder, upon written notice to the Executive, in
the event that the Executive becomes disabled during the Term through any condition of
either a physical or psychological nature and, as a result, is, with or without
reasonable accommodation, unable to perform the essential functions of the services
contemplated hereunder for (a) a period of ninety (90) consecutive days, or (b) for
shorter periods aggregating one hundred twenty (120) days during any twelve (12) month
period during the Term. Any such termination shall become effective upon mailing or hand
delivery of notice that the Company has elected its right to terminate under this
subsection 5(f), and the Company shall (i) pay the Executive on the effective date of
termination all earned, unpaid Salary; (ii) pay the Executive on the effective date of
termination all earned, unpaid bonuses; (iii) pay the Executive on the effective date of
termination all accrued unused vacation; (iv) continue to pay the Executive the Salary
and shall provide medical, life and disability coverage, under the same conditions as
exist at the time of termination, for a six (6) month period beginning on the effective
date of the termination, and (v) notwithstanding anything to the contrary in any stock
option agreement, any unvested stock options granted to the Executive shall accelerate
and vest in full on the effective date of termination. As a condition of receiving such
benefits pursuant to this Agreement, the Executive shall execute and deliver to the
Company prior to his receipt of such benefits a general release substantially in the form
attached hereto as Exhibit A, provided the Company shall execute such release and deliver
an executed counterpart to the Executive. 

     (f)
Certain Events. Notwithstanding anything to the contrary in any stock option plan or
agreement, in the event of a Change in Control of the Company, or Affiliate by which the
Executive is employed, all unvested stock options in the Company granted to the Executive
shall accelerate and vest in full upon the Change in Control. As a condition of the
foregoing benefit, the Executive agrees that, if so requested by the Company, or such
Affiliate, prior to the Change in Control, he shall continue to be employed by the
Company or such Affiliate for a period of one (1) year, subject to all of the other terms
and conditions of this Agreement, and if he fails to satisfy such obligation he shall pay
to the Company as liquidated damages a sum equal to the difference between the exercise
price of such stock options and the higher of (x) the fair market value of the option
shares on the effective date of the Change in Control, or (y) the highest effective price
paid for the Company’s common stock by any acquirer in connection with the Change in
Control. As a further condition of the foregoing benefit, the Executive shall execute and
deliver to the Company prior to his receipt of such benefit a general release of claims
up to the date of the Change in Control, substantially in the form attached hereto as
Exhibit A, provided the Company shall execute such release and deliver an executed
counterpart to the Executive. 

     (g)
Tax Deductability. If it is determined by the Company or the Internal Revenue Service
that any payment or benefit received or deemed received by the Executive from the Company
(pursuant to this Agreement or otherwise) is or will become subject to any excise tax
under Section 4999 of the Internal Revenue Code, and, therefore, that the Company will
not be entitled to a federal tax deduction in connection with such payments and benefits
or any portion thereof, then such payments and/or benefits shall be reduced, in a form
and amount agreed to by the parties in good faith, in the amount necessary to allow the
Company a federal tax deduction in connection with all payments and benefits provided to
the Executive. 

	

6. Choice of Law. 

     The
validity, interpretation and performance of this Agreement shall be governed by, and
construed in accordance with, the internal law of Maryland, without giving effect to
conflict of law principles. 

7. Miscellaneous. 

     (a)
Assignment; Delegation. The Executive acknowledges and agrees that the rights and
obligations of the Company under this Agreement may be assigned by the Company to any
successors in interest. The Executive further acknowledges and agrees that the Company
may delegate performance of its obligations to any Affiliate provided that the Company
shall retain liability for any breach of its obligations under this Agreement. The
Executive further acknowledges and agrees that this Agreement is personal to the
Executive and that the Executive may not assign or delegate any rights or obligations
hereunder. 

     (b)
Withholding. All payments required to be made by the Company to the Executive under this
Agreement shall be subject to withholding taxes, social security and other payroll
deductions in accordance with the Company’s policies applicable to employees of the
Company at the Executive’s level. 

     (c)
Entire Agreement. This Agreement, the Executive’s employee nondisclosure/noncompetition
agreement with the Company, and any stock option agreement(s) between the parties, set
forth the entire agreement between the parties on the subject matter contained herein and
supersede any prior communications, agreements and understandings, written or oral, with
respect to the terms and conditions of the Executive’s employment. 

     (d)
Amendments. Any attempted modification of this Agreement will not be effective unless
signed by an officer of the Company and the Executive. 

     (e)
Waiver of Breach. The Executive understands that a breach of any provision of this
Agreement may only be waived by an officer of the Company. The waiver by the Company of a
breach of any provision of this Agreement shall not operate or be construed as a waiver
of any subsequent breach. 

     (f)
Severability. If any provision of this Agreement should, for any reason, be held invalid
or unenforceable in any respect by a court of competent jurisdiction, then the remainder
of this Agreement, and the application of such provision in circumstances other than
those as to which it is so declared invalid or unenforceable, shall not be affected
thereby, and each such provision of this Agreement shall be valid and enforceable to the
fullest extent permitted by law. 

	

     (g)
Notices. Any notices, requests, demands and other communications provided for by this
Agreement shall be in writing and shall be effective when delivered (i) in hand by
private messenger, or (ii) by a nationally known and reputable overnight mail service, as
follows (or to such other address as either party shall designate by notice in writing to
the other in accordance herewith): 

	 	If
to the Company:

	 	135
National Business Parkway
Annapolis Junction, MD 20701
Attn: CEO
With a copy to General
Counsel

	 	If
to Executive:

	 	__________________________

	 	__________________________

	 	__________________________

	 	__________________________

	

     (h)
Survival. The Executive and the Company agree that certain provisions of this Agreement
shall survive the expiration or termination of this Agreement and the termination of the
Executive’s employment with the Company. Such provisions shall be limited to those within
this Agreement which, by their express and implied terms, obligate either party to
perform beyond the termination of the Executive’s employment or termination of this
Agreement. 

     (i)
Arbitration of Disputes. Any controversy or claim arising out of this Agreement or any
aspect of the Executive’s relationship with the Company including the cessation thereof
shall be resolved by arbitration in accordance with the then existing Employment Dispute
Resolution Rules of the American Arbitration Association, in Washington, D.C., and
judgment upon the award rendered may be entered in any court having jurisdiction thereof.
The parties shall split equally the costs of arbitration, except that each party shall
pay its own attorneys’ fees. The parties agree that the award of the arbitrator shall be
final and binding. 

     (j)
Rights of Other Individuals. This Agreement confers rights solely on the Executive and
the Company. This Agreement is not a benefit plan and confers no rights on any individual
or entity other than the undersigned. 

     (k)
Headings. The parties acknowledge that the headings in this Agreement are for convenience
of reference only and shall not control or affect the meaning or construction of this
Agreement. 

	

     (l)
Advice of Counsel. The Executive and the Company hereby acknowledge that each party has
had adequate opportunity to review this Agreement, to obtain the advice of counsel with
respect to this Agreement, and to reflect upon and consider the terms and conditions of
this Agreement. The parties further acknowledge that each party fully understands the
terms of this Agreement and has voluntarily executed this Agreement. The Company shall
pay the legal fees and costs incurred by the Executive in connection with the negotiation
and preparation of this Agreement, upon the presentation of invoices in appropriate form. 

     IN
WITNESS WHEREOF, the undersigned have duly executed this Agreement as of the day and year
set forth below. 

	          EXECUTIVE  	CREDIT
MANAGEMENT SOLUTIONS, INC. 

	__________________________________  	By: ______________________________ 

	  	Title:_____________________________ 

	Dated:________________________,  2000	Dated:________________________, 2000  

	

EXHIBIT A

SEPARATION AGREEMENT

AND GENERAL RELEASE

     This
Separation Agreement and General Release (“Agreement”) is made and entered into this ____
day of _____, _____, by and between Credit Management Solutions, Inc. (hereinafter the
“Company” or “Employer”) and [EMPLOYEE NAME] (“Employee”) (hereinafter collectively
referred to as the “Parties”), and is made and entered into with reference to the
following facts. 

RECITALS

     WHEREAS,
Employee was hired by the Company on or about ________, as a ____________; and 

     WHEREAS,
the Company and Employee have agreed to terminate their employment relationship effective
______, ____; and 

     WHEREAS,
the Parties have entered into a written employment agreement, dated _________ (the
“Employment Agreement”), under which Employee is entitled to certain severance benefits
conditioned upon his/her execution of this Agreement; and 

     WHEREAS,
the Parties each desire to resolve any potential disputes which exist or may exist
arising out of Employee’s employment with the Company and/or the termination thereof. 

     NOW
THEREFORE, in consideration of the covenants and promises contained herein, the Parties
hereto agree as follows: 

AGREEMENT

     1.
Agreement By the Employee. In exchange for the payments described in paragraph 2 below,
Employee agrees to the following:  

		(a) 		that
his/her employment with the Company is terminated effective _________, ____ (hereinafter
the “Termination Date”); and

		(b) 		to
be bound by the terms of this entire Agreement.

	

     2.
Agreement By the Company. In exchange for Employee’s agreement to be bound by the terms
of this entire Agreement, including but not limited to the Release of Claims in paragraph
3, the Company agrees to provide Employee with a severance benefits as provided for in
the Employment Agreement. 

     Employee
acknowledges that, absent this Agreement, s/he has no legal, contractual or other
entitlement to the consideration set forth in this paragraph and that the amount set
forth in this paragraph constitute valid and sufficient consideration for Employee’s
release of claims and other obligations set forth herein. 

	

     3.
The Company and its divisions, subsidiaries, affiliates, parents, related entities,
hereby expressly waive, release, acquit and forever discharge Employee and his agents,
attorneys, representatives, successors, heirs and assigns (hereinafter collectively
referred to as “Employee Releasees”), from any and all claims, demands, and causes of
action which Employee has or claims to have, whether known or unknown, of whatever
nature, which exist or may exist on Employee’s behalf from the beginning of time up to
and including the date of this Agreement. As used in this paragraph 3, “claims,”
“demands,” and “causes of action” include, but are not limited to, claims based on
contract, whether express or implied, fraud, stock fraud, defamation, wrongful
termination, estoppel, equity, tort, retaliation, intellectual property, personal injury,
spoliation of evidence, emotional distress, public policy, wage and hour law, statute or
common law, claims for severance pay, claims related to stock options and/or fringe
benefits, claims for attorneys’ fees, vacation pay, debts, accounts, compensatory
damages, punitive or exemplary damages, liquidated damages, and any and all claims
arising under any federal, state, or local statute, law, or ordinance prohibiting
discrimination on account of race, color, sex, age, religion, sexual orientation,
disability or national origin, including but not limited to, the Age Discrimination in
Employment Act, Title VII of the Civil Rights Act of 1964 as amended, the Americans with
Disabilities Act, the Family and Medical Leave Act or the Employee Retirement Income
Security Act; provided, however, that, this release does not include any claim, demand or
cause of action arising out of Executive’s malfeasance, fraud, embezzlement, intentional
torts, breach of his duties under his employee nondisclosure/noncompetition agreement
with the Company, violation of any other duties with respect to confidential or
proprietary information or intellectual property (including without limitation patents,
copyrights, trade secrets and trademarks), noncompetition, nonsolicitation or loyalty, or
violation of the Company’s employee policies, including without limitation its Human
Resources and securities trading policies. 

     4.
Last Date of Employment. It is understood and agreed that Employee’s last date of
employment with Employer is _________, ____. 

	

     5.
Receipt of Wages and Other Compensation. Employee acknowledges and agrees that, prior to
his/her execution of this Agreement, s/he has received payment for all wages, salary,
bonuses, accrued vacation, and all other compensation owed to Employee by the Company. 

     6.
Company Property/Proprietary Information. Employee agrees to continue to abide by the
terms of his employee nondisclosure/noncompetition agreement with the Company, the terms
of which are incorporated herein by reference. 

     7.
Acceptance of Agreement/[Revocation]. This Agreement was received by Employee on ______,
____. Employee may accept this Agreement by returning a signed original to the Company.
This Agreement shall be withdrawn if not accepted in the above manner on or before _____. 

     8.
Non-Admission of Liability. The Company denies any wrongdoing whatsoever in connection
with its dealings with Employee, including but not limited to Employee’s employment and
termination. It is expressly understood and agreed that nothing contained in this
Agreement shall constitute or be treated as an admission of any wrongdoing or liability
on the part of the Company or the Employee. 

     9. No
Filing of Claims. Employee represents and warrants that s/he does not presently have on
file, and further represents and warrants that s/he will not hereafter file, any claims,
charges, grievances or complaints against any of the Releasees (defined above) in or with
any administrative, state, federal or governmental entity, agency, board or court, or
before any other tribunal or panel or arbitrators, public or private, based upon any
actions or omissions by the Releasees occurring prior to the date of this Agreement. 

     10.
Ownership of Claims. Employee represents and warrants that s/he is the sole and lawful
owner of all rights, title and interest in and to all released matters, claims and
demands referred to herein. Employee further represents and warrants that there has been
no assignment or other transfer of any interest in any such matters, claims or demands
which she may have against the Releasees. 

     11.
Confidentiality. Employee understands and agrees that this Agreement, and the matters
discussed in negotiating its terms, are entirely confidential. It is therefore expressly
understood and agreed that Employee will not reveal, discuss, publish or in any way
communicate any of the terms, amount or fact of this Agreement to any person,
organization or other entity, with the exception of his/her immediate family members and
professional representatives, unless required by subpoena or court order. Employee
further agrees that s/he will not, at any time in the future, make any statements to any
third parties that disparage any of the Releasees personally or professionally. 

     12.
Tax Indemnification. It is understood and agreed that Employee is liable for all tax
obligations, if any, with respect to the settlement payments provided for herein.
Employee agrees to indemnify, defend and hold harmless Employer from any and all taxes,
assessments, penalties, loss, costs, attorneys’ fees, expenses or interest
payments that Employer may at any time incur by reason of any demand, proceeding, action
or suit brought against Employer arising out of or in any manner related to any local,
state or federal taxes allegedly due from Employee in connection with this Agreement. 

     13.
Maryland Law Applies. This Agreement, in all respects, shall be interpreted, enforced and
governed by and under the laws of the State of Maryland. Any and all actions relating to
this Agreement shall be filed and maintained in the federal and/or state courts located
in the State of Maryland, and the parties consent to the jurisdiction of such courts. In
any action arising out of this Agreement, or involving claims barred by this Agreement,
the prevailing party shall be entitled to recover all costs of suit, including reasonable
attorneys’ fees. 

	

     14.
Successors and Assigns. The Parties expressly understand and agree that this Agreement,
and all of its terms, shall be binding upon their representatives, heirs, executors,
administrators, successors and assigns. 

     15.
Consultation with Counsel. Employee acknowledges that s/he has been advised to consult
with legal counsel of her choice prior to execution and delivery of this Agreement. 

     16.
Integration. Except as otherwise specifically provided for, this Agreement constitutes an
integrated, written contract, expressing the entire agreement between the Parties with
respect to the subject matter hereof. In this regard, Employee represents and warrants
that s/he is not relying on any promises or representations which do not appear written
herein. Employee further understands and agrees that this Agreement can be amended or
modified only by a written agreement, signed by all of the Parties hereto. 

     17.
Counterparts. This Agreement may be executed in separate counterparts and by facsimile,
and each such counterpart shall be deemed an original with the same effect as if all
Parties had signed the same document. 

     18.
Headings. The headings in each paragraph herein are for convenience of reference only and
shall be of no legal effect in the interpretation of the terms hereof. 

     19.
Severability. If any provision in this Agreement is held to be invalid, the remainder of
this Agreement shall not be affected by such a determination. 

     20.
Voluntary Agreement. EMPLOYEE UNDERSTANDS AND AGREES THAT S/HE MAY BE WAIVING SIGNIFICANT
LEGAL RIGHTS BY SIGNING THIS AGREEMENT, AND REPRESENTS THAT S/HE HAS ENTERED INTO THIS
AGREEMENT KNOWINGLY AND VOLUNTARILY, WITH A FULL UNDERSTANDING OF AND IN AGREEMENT WITH
ALL OF ITS TERMS. 

     IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement on the dates provided
below. 

	 	 

	DATED:  _____________________,____ 	CREDIT MANAGEMENT SOLUTIONS, INC. 

	 	By: __________________________ 

	  	Its: __________________________ 

	DATED: _____________________, ____  	[EMPLOYEE NAME] 

	  	__________________________

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