Document:

UIL Holdings Exhibit 10.9 dated 07/08/05

                        EXHIBIT
      10.9

    

    FIRST
      AMENDMENT

    TO

    EMPLOYMENT
      AGREEMENT

    THIS
      AMENDMENT ( the “Amendment”) is
      made
      as of the first day of March, 2005, between UIL Holdings Corporation, a
      Connecticut Corporation (the “Company”) and Deborah C. Hoffman (the
“Executive”),

     

    WITNESSETH
      THAT

    

    WHEREAS,
      the Executive previously has been employed by the Company as its Director of
      Audit Services pursuant to an employment agreement between the Company and
      the
      Executive dated as of November 8, 2004 (the “Agreement”); and 

    

    WHEREAS,
      the Company desires to promote the Executive to the position of Vice President
      of Audit Services and Chief Compliance Officer, and the Executive desires to
      be
      so employed by the Company;

    

    WHEREAS,
      in order to reflect such promotion it is desirable to amend the
      Agreement;

    

    NOW
      THEREFORE, the Agreement is amended as follows:

    

    1.
      Section 1 of the Agreement is amended as of March 1, 2005 to read as
      follows:

     

    (1)  EMPLOYMENT;
      TERM 

     

    
    

    (a)  The
      Company hereby agrees to employ the Executive, and the Executive hereby agrees
      to serve the Company, at the pleasure of the Board of Directors of UIL Holdings
      Corporation (the “UIL Board”), all upon the terms and conditions set forth
      herein.

     

    (b)  The
      term
      of this Agreement shall be for a period commencing on March 1, 2005 and ending
      on the second anniversary thereof, unless this Agreement is earlier terminated
      as provided in Section 5 (the “Initial Term”). Unless the Company has provided
      the Executive with at least ninety (90) days prior written notice of its
      decision not to renew this Agreement after the Initial Term or any subsequent
      term, this Agreement shall be automatically renewed for a successive one year
      term (the Initial Term and any renewal term being referred to as the “Term”).
For
      purposes of this Agreement, a non-renewal at the election of the Company at
      the
      end of a Term shall constitute a termination of this Agreement without cause,
      and shall be governed by the provisions of Section 6(c). In no event shall
      the
      Company give notice of a non-renewal from the time that an impending Change
      in
      Control (as hereinafter defined) is announced through the date of the
      consummation of such Change in Control.

     

    
      
         

      

      
        -
          1
          -

        
          

        

      

      
         

      

    

    2.
      Section 2(a) of the Agreement is amended as of March 1, 2005 to read as
      follows:

    

    (2) POSITION
      AND DUTIES

    

    (a)
      Effective as of March 1, 2005. the Executive shall be employed by the Company
      as
      its Vice President of Audit Services and Chief Compliance Officer, or in such
      other equivalent or higher position as the UIL Board may determine. The
      Executive shall:

    

    (i)
      accept such employment and perform and discharge, faithfully, diligently and
      to
      the best of the Executive's abilities, the duties and obligations of the
      Executive's office and such other duties as may from time to time be assigned
      to
      the Executive by, or at the direction of, the Audit Committee of the UIL Board
      or the President and Chief Executive Officer of the Company; and

    

    (ii)
      devote substantially all of the Executive's working time and efforts to the
      business and affairs of the Company.

    

    3.
      Section 4(a) of the Agreement is hereby amended to read as follows:

    

    (4) COMPENSATION

    

    (a)
      Base
      Salary.
      During
      the Initial Term of the Executive's employment hereunder, the Executive shall
      receive a base salary (“Base Salary”) at an annual rate of One Hundred Twenty
      Six Thousand Seven Hundred Dollars ($126,700.00) increasing to One Hundred
      Forty
      One Thousand Dollars ($141,000.00) as of April 1, 2005, payable in accordance
      with the then customary payroll practices of the Company. The Executive's
      performance and Base Salary shall be reviewed by the UIL Board at least
      annually, and may be revised upward as a result of any such review. The
      Executive’s Base Salary may be revised downward by the UIL Board
      contemporaneously with any general reduction of the salary rates of the
      Company’s other executives.

    

    

    
      	
              Date:
                

            	
              July
                8, 2005

            

    

    

    UIL
      HOLDINGS CORPORATION

    Attest: 

    

    
      	
              /s/
                Susan E. Allen

            	 	
              By:

            	
              /s/
                Nathaniel D. Woodson

            
	
              Susan
                E. Allen

            	 	 	
              Nathaniel
                D. Woodson

            
	
              Vice
                President Investor Relations, Corporate Secretary &
                Treasurer

            	 	 	
              Its
                Chairman, President and Chief Executive
                Officer

            

    

    

    

    
      	
              Date:
                

            	
              July
                8, 2005

            	 	
              /s/
                Deborah C. Hoffman

            
	 	 	 	
              Deborah
                C. Hoffman

            

    

    

    
      
         

      

      
        -
          2
          -Exhibit 10.1

 

MSC.SOFTWARE CORPORATION

SEVERANCE COMPENSATION
AGREEMENT

 

THIS AGREEMENT, effective July 6, 2005, is between
MSC.Software Corporation, a Delaware corporation (the “Company”) and John J.
Laskey (the “Executive”) and replaces and supersedes, in its entirety, that
Severance Compensation Agreement between the Company and Executive dated October 26,
2004, and such previous agreement shall be null and void in all respects.

 

The Company’s Compensation Committee and Board of Directors has
determined that it is appropriate to reinforce and encourage the continued
attention and dedication of members of the Company’s management to their
assigned duties without distraction in potentially disturbing circumstances
arising from the possibility of a change in control of the Company.

 

This Agreement sets forth the severance compensation which the Company
agrees it will pay to the Executive if the Executive’s employment with the
Company terminates under one of the circumstances described herein following a
Change in Control of the Company (as defined herein).

 

1.                                       Term.  This Agreement shall terminate, except to the
extent that any obligation of the Company hereunder remains unpaid as of such
time, upon the earliest of (i) December 31st of any year
after 2006, provided that either party has given at least 60 days prior written
notice to the other party of its or his intention to terminate this Agreement
under this paragraph 1(i); (ii) the termination of the Executive’s
employment with the Company based on death, Disability (as defined in Section 3(b)),
Retirement (as defined in Section 3(c)) or Cause (as defined in Section 3(d))
or by the Executive other than for Good Reason (as defined in Section 3(e));
and (iii) two years from the date of a Change in Control of the Company if
the Executive has not terminated his employment for Good Reason as of such
time.

 

2.                                       Change
in Control.  No compensation shall be
payable under this Agreement unless and until (a) there shall have been a
Change in Control of the Company, while the Executive is still an employee of
the Company and (b) the Executive’s employment by the Company thereafter
shall have been terminated in accordance with Section 3. For purposes of
this Agreement, a Change in Control of the Company shall be deemed to have
occurred if:

 

(i)                                     there
shall be consummated any consolidation or merger of the Company and, as a
result of such consolidation or merger (x) less than 50% of the outstanding
common shares and 50% of the voting shares of the surviving or resulting corporation
are owned, immediately after such consolidation or merger, by the owners of the
Company’s common shares immediately prior to such consolidation or merger, or
(y) any person (as such term is used in Section 13(d) and 14(d)(2) of
the Securities Exchange Act of 

 

1

 

1934, as amended (the “Exchange Act”) shall
become the beneficial owner (within the meaning of Rule 13d-3 under the
Exchange Act) of 20% or more of the surviving or resulting corporation’s outstanding
common shares; or

 

(ii)           any
sale, lease, exchange or other transfer (in one transaction or a series of
related transactions) of all, or substantially all, of the assets of the
Company shall be consummated; or

 

(iii)          the
shareholders of the Company shall approve any plan or proposal for the
liquidation or dissolution of the Company; or

 

(iv)                              any
person (as such term is used in Section 13(d) and 14(d)(2) of
the Exchange Act) shall become the beneficial owner (within the meaning of Rule 13d-3
under the Exchange Act) of 20% or more of the Company’s outstanding common
shares; or

 

(v)                                 during
any period of two consecutive years, individuals who at the beginning of such
period constitute the entire Board of Directors shall cease for any reason to
constitute a majority thereof unless the election or the nomination for
election by the Company’s shareholders of each new director was approved by a
vote of at least two-thirds of the directors then still in office who were
directors at the beginning of the period.

 

3.                                       Termination
Following Change in Control

 

(a)                                  If
a Change in Control of the Company shall have occurred while the Executive is
still an employee of the Company, the Executive shall be entitled to the
compensation provided in Section 4 upon the subsequent termination of the
Executive’s employment with the Company by the Executive or by the Company
unless such termination is as a result of (i) the Executive’s death; (ii) the
Executive’s Disability (as defined in Section 3(b) below); (iii) the
Executive’s Retirement (as defined in Section 3(c) below); (iv) the
Executive’s termination by the Company for Cause (as defined in Section 3(d) below);
or (v) the Executive’s decision to terminate employment other than for
Good Reason (as defined in Section 3(e) below).

 

(b)                                 Disability.
If, as a result of the Executive’s incapacity due to physical or mental
illness, the Executive shall have been absent from his duties with the Company
on a full-time basis for twelve months and within 30 days after written notice
of termination is thereafter given by the Company the Executive shall not have
returned to the

full-time performance of the Executive’s duties, the Company may terminate this
Agreement for “Disability.”

 

2

 

(c)                                  Retirement.  The term “Retirement” as used in this
Agreement shall mean termination by the Company or the Executive of the
Executive’s employment based on the Executive having reached age 65 or such
other age as shall have been fixed in any written arrangement regarding the
Executive’s retirement established with the Executive’s consent with respect to
the Executive.

 

(d)                                 Cause.
The Company may terminate the Executive’s employment for Cause. For purposes of
this Agreement only, the Company shall have “Cause” to terminate the Executive’s
employment hereunder only on the basis of fraud, misappropriation or
embezzlement on the part of the Executive. Notwithstanding the foregoing, the
Executive shall not be deemed to have been terminated for Cause unless and
until there shall have been delivered to the Executive a copy of a resolution
duly adopted by the affirmative vote of not less than three-quarters of the
entire membership of the Company’s Board of Directors at a meeting of the Board
called and held for the purpose (after reasonable notice to the Executive and
an opportunity for the Executive, together with the Executive’s counsel, to be
heard before the Board), finding that in the good faith opinion of the Board
the Executive was guilty of conduct set forth in the second sentence of this Section 3(d) and
specifying the particulars thereof in detail.

 

(e)                                  Good
Reason.  The Executive may terminate
the Executive’s employment for Good Reason at any time during the term of this
Agreement. For purposes of this Agreement “Good Reason” shall mean any of the
following without the Executive’s express written consent:

 

(i)                                     the
assignment to the Executive by the Company of duties inconsistent with the
Executive’s position, duties, responsibilities and status with the Company immediately
prior to a Change in Control of the Company, or a change in the Executive’s
titles or offices as in effect immediately prior to a Change in Control of the
Company, or any removal of the Executive from or any failure to reelect the
Executive to any of such positions, except in connection with the termination
of his employment for Disability, Retirement or Cause or as a result of the
Executive’s death or by the Executive other than for Good Reason;

 

(ii)           a
reduction by the Company in the Executive’s base salary as in effect on the
Date of Termination;

 

(iii)          any
failure by the Company to continue in effect any benefit plan or arrangement
(including, without limitation, the Company’s retirement plan, group life
insurance plan, and medical, dental, accident and disability plans) in which
the Executive is 

 

3

 

participating at the time of a Change in
Control of the Company (or any other plans providing the Executive with
substantially similar benefits) (hereinafter referred to as “Benefit Plans”),
or the taking of any action by the Company which would adversely affect the
Executive’s participation in or materially reduce the Executive’s benefits
under any such Benefit Plan or deprive the Executive of any material fringe
benefit enjoyed by the Executive at the time of a Change in Control of the
Company;

 

(iv)                              any
failure by the Company to continue the Executive’s eligibility to participate
in annual executive bonus arrangements in which the Executive is participating
at the time of a Change in Control of the Company (or any plans or arrangements
providing him with substantially similar benefits) (hereinafter referred to as “Incentive
Plans”) or the taking of any action by the Company which would significantly
reduce the Executive’s opportunity to earn incentive compensation which is
related to performance results as compared to performance expectations
periodically determined by the Company;

 

(v)                                 a
relocation of the Company’s principal executive offices, or the Executive’s
relocation to any place other than the location at which the Executive
performed the Executive’s duties prior to a Change in Control of the Company,
except for required travel by the Executive on the Company’s business to an
extent substantially consistent with the Executive’s business travel
obligations at the time of a Change in Control of the Company;

 

(vi)          any
failure by the Company to provide the Executive with the number of paid
vacation days to which the Executive is entitled at the time of a Change in
Control of the Company;

 

(vii)         any
material breach by the Company of any provision of this Agreement;

 

(viii)        any
failure by the Company to obtain the assumption in writing of this Agreement by
any successor or assign of the Company, unless consent given by Executive;

 

(ix)           any
purported termination of the Executive’s employment, which is not effected
pursuant to a Notice of Termination satisfying the requirements of Section 3(f),
and for purposes of this Agreement, no such purported termination shall be
effective; or

 

4

 

(x)            the
failure of the Company to maintain Directors’ and Officers’ Liability Insurance
on terms not materially less favorable to the Executive than the terms of the
policy presently in effect.

 

(f)                                    Notice
of Termination.  Any termination by
the Company pursuant to Section 3(b), 3(c) or 3(d) shall be
communicated by a Notice of Termination. For purposes of this Agreement, a “Notice
of Termination” shall mean a written notice which shall indicate those specific
termination provisions in this Agreement relied upon and which sets forth in
reasonable detail the facts and circumstances claimed to provide a basis for
termination of the Executive’s employment under the provision so indicated. For
purposes of this Agreement, such purported termination by the Company shall not
be effective without such Notice of Termination.

 

(g)                                 Date
of Termination.  “Date of Termination”
shall mean (a) if this Agreement is terminated by the Company for Disability,
30 days Notice of Termination is given to the Executive (provided that the
Executive shall not have returned to the performance of the Executive’s duties
on a full-time basis during such 30-day period) or (b) if the Executive’s
employment is terminated by the Company for any other reason, the date on which
a Notice of Termination is given; provided that if within 30 days after any
Notice of Termination is given to the Executive by the Company the Executive
notifies the Company that a dispute exists concerning the termination, the Date
of Termination shall be the date the dispute is finally determined, whether by
mutual agreement by the parties or upon final judgment, order or decree of a
court of competent jurisdiction (the time for appeal therefrom having expired
and no appeal having been perfected.)

 

4.                                       Compensation
Under this Agreement

 

(a)                                  If
within two years after a Change in Control of the Company, a Notice of
Termination is given either by the Company to the Executive or by the Executive
to the Company, and if such termination is not by reason of the Executive’s
death, Disability or Retirement, or by the Company for Cause, or by the
Executive other than for Good Reason, the Company shall make the following
payments to the Executive:

 

(i)                                     the
full base salary to which the Executive is entitled through the Date of
Termination;

 

(ii)                                  credit
for unused vacation calculated at Executive’s then current base salary rate;

 

(iii)          An
amount equal to the Executive’s current Annual Bonus Award under any Company
annual incentive plan for the fiscal year in which the Notice of Termination is
given, multiplied by the 

 

5

 

percentage determined by dividing the number
of days in the Company’s fiscal year that have elapsed prior to the date on
which the Notice of Termination is given by the total number of days in such
fiscal year. As used in this clause (iii) the Executive’s Annual Bonus
Award means the dollar amount which would have been paid to Executive for the fiscal
year in which the Notice of Termination is given under the then current Company
executive incentive compensation plan, based on the assumption that the Target
Level of performance would be reached by the Company and the Executive.

 

(iv)                              an
amount equal to two and one-half (2.5) times the sum of the Executive’s
annualized base salary and Annual Bonus Award (as defined in clause (iii) above)
for the year in which the Notice of Termination is given, provided, however,
that the amounts to be paid to the Executive under this clause (iv) shall
be reduced by the amount payable to the Executive under clause (iii) of
this Section 4(a).

 

(b)                                 Upon
a Change in Control, all stock options granted to Executive will be immediately
vested and exerciseable.

 

(c)                                  (i)                                     If
any payment or distribution by the Company to or for the benefit of the
Executive, whether pursuant to the terms of this Agreement or otherwise (a “Payment”),
is subject to the excise tax imposed by Section 4999 of the Internal
Revenue Code or any interest or penalties are incurred by the Executive with
respect to such excise tax (such excise tax, together with any such interest
and penalties, are hereinafter collectively referred to as the “Excise Tax”),
the Company shall make an additional payment (a “Gross-Up Payment”) to the
Executive in an amount such that, after payment by the Executive of all taxes
(including any interest or penalties imposed with respect to such taxes)
including, without limitation, any federal, state, or local income and
employment taxes and Excise Tax imposed upon the Gross-Up Payment, the
Executive retains an amount of the Gross-Up Payment equal to the Excise Tax
imposed on the Payment.

 

(ii)           Subject
to the provisions of paragraph 4c(iii) hereof, all determinations under
this paragraph 4(c), including whether a Gross-Up Payment is required and the
amount of the Gross-Up Payment, shall be made by a certified public accounting
firm immediately before the Change in Control occurs (the “Accounting Firm”),
which shall provide detailed supporting calculations to both the Company and
the Executive within 15 business days after the Change in Control (or any other
change in ownership or 

 

6

 

effective control that triggers application
of the Excise Tax) and, if a termination for Good Reason occurs, within 15 days
after the termination for Good Reason. All fees and expenses of the Accounting
Firm shall be borne solely by the Company. The initial Gross-Up Payment
determined pursuant to this paragraph

4(c)(ii) shall be paid by the Company to the Executive, or tax authority,
whichever is required, within five days after it receives the Accounting Firm’s
determination. If the Accounting Firm determines that no Excise Tax is payable
by the Executive, it shall furnish the Executive with a written opinion that
failure to report the Excise Tax on the Executive’s applicable federal tax
return will not result in the imposition of a negligence or similar penalty.
Any determination by the Accounting Firm shall be binding on the Company and
the Executive. Notwithstanding the foregoing, as a result of uncertainty in
applying Section 4999 of the Internal Revenue Code, it is possible that
the Company will not have made Gross-Up Payments that it should have made hereunder
(an “Underpayment”). If the Company exhausts its remedies pursuant to paragraph
4(c)(iii) hereof and the Executive thereafter is required to pay any
Excise Tax, the Accounting Firm shall determine the amount of the Underpayment,
inform the Company and the Executive of the Underpayment in writing, and,
within five days of receiving such written report, the Company shall pay the
amount of such Underpayment to or for the benefit of the Executive.

 

(iii)                               The
Executive shall notify the Company in writing of any claim by the Internal
Revenue Service that, if successful, would require the payment by the Company
of the Gross-Up Payment. Such notification shall be given as soon as
practicable but not later than ten business days after the Executive is informed
in writing of such claim and shall apprise the Company of the nature of such
claim and the date on which such claim is required to be paid. The Executive
shall not pay such claim before the expiration of 30 days following the date on
which he gives such notice to the Company (or such shorter period ending on the
date that any payment of taxes with respect to such is due). If the Company
notifies the Executive in writing before the expiration of such 30-day period
that it desires to contest such claim, the Executive shall (1) give the
Company any information reasonably requested by the Company relating to such
claim, and (2) take such action in connection with contesting such claim
as the Company shall reasonably request in writing from time to time, including,
without limitation, accepting legal representation with respect to such claim
by an attorney selected by the Company, provided that the Company shall pay
directly all costs and expenses (including additional interest and 

 

7

 

penalties) incurred in connection with such
contest and shall indemnify and hold the Executive harmless, on an after-tax
basis, for any tax, including interest and penalties, imposed as a result of
such representation and payment of costs and expenses. The Company shall
control all proceedings in connection with such contest and may, at its sole
option, either direct the Executive to pay the tax claimed and sue for a refund
or to contest the claim in any permissible manner, and the Executive agrees to
prosecute such contest to a determination before any appropriate administrative
tribunal or court, as the Company shall determine; provided, that if the
Company directs the Executive to pay such claim and sue for a refund, the
Company shall advance the amount of such payment to the Executive, on an
interest-free basis, and shall indemnify and hold the Executive harmless, on an
after-tax basis, from any tax, including interest or penalties, imposed with
respect to such advance. The Company’s control of the contest shall be limited
to issues with respect to which a Gross-Up Payment would be payable hereunder,
and the Executive shall be entitled to settle or contest any other issue.

 

(iv)                              If,
after the Executive receives an advance by the Company pursuant to paragraph
4(c)(iii) hereof, the Executive becomes entitled to receive a refund
claimed pursuant to such paragraph 4(c)(iii), the Executive shall (subject to
the Company’s complying with the requirements of such paragraph 4(c)(iii) promptly
pay to the Company the amount of such refund (together with any interest
thereon, after taxes applicable thereto). If, after the Executive receives an
amount advanced by the Company pursuant to paragraph

4(c)(iii) hereof, a determination is made that the Executive shall not be
entitled to any refund claimed pursuant to such paragraph 4(c)(iii), and the
Company does not notify the Executive in writing of its intent to contest such
denial of refund before the expiration of 30 days after such determination, the
Executive shall not be required to repay such advance, and the amount of such
advance shall offset, to the extent thereof, the amount of the required
Gross-Up Payment.

 

(v)                                 Any
payments otherwise required by this paragraph 4(C) shall be made
regardless of whether a termination for Good Reason occurs.

 

(d)                                 The
amounts required to be paid under Section 4(a) shall be paid by the
Company to the Executive in cash in a lump sum on the 10th day after
the Date of Termination. All payments made to the Executive pursuant to this
Agreement or any other agreement or plan of or with the Company shall be made
within the time periods described herein, however, if it is determined by the
parties or in the opinion of counsel reasonably 

 

8

 

acceptable to the Executive and the Company,
such determination to be made or opinion provided to the Company no later than
thirty (30) days after the Date of Termination, that payment (or payments) is
or reasonably may be treated as deferred compensation within the meaning of Section 409A
of the Internal Revenue Code of 1986, as amended (the “Code”), except in the
case of the Executive’s death, the payment (or payments) shall be delayed
(without interest) to a date no earlier than, and shall be paid as soon as
administratively practicable after, six (6) months after the Executive’s “separation
from service,” as that term is defined in Section 409A of the Code.

 

(e)                                  Any
payments required under this Section 4 shall be paid net of applicable federal,
state and local tax withholding.

 

(f)                                    If
the Company is required to make payments to the Executive under Section 4(a),
the Company, until the earlier of (i) two and one-half (2.5) years after
the Date of Termination or (ii) commencement of full-time employment by
the Executive with a new employer, shall maintain in full force and effect, for
the continued benefit of the Executive, medical and dental programs or
arrangements in which the Executive was entitled to participate immediately
prior to the Date of Termination, provided that continued participation by the
Executive is possible under the general terms and provisions of such plans and
programs.

 

(g)                                 Except
for the payment referred to in clause (i) of Section 4(a) none
of the payments to the Executive under this Section 4 shall be counted for
the purpose of computing the Executive’s benefits under any pension, profit
sharing, deferred compensation or other employee benefit plan maintained by the
Company.

 

5.                                       No
Obligation to Mitigate Damages; No Effect on Other Contractual Rights.

 

The provisions of this Agreement, and any
payment provided for hereunder, shall not reduce any amounts otherwise payable,
or in any way diminish the Executive’s existing rights, or rights which would
accrue solely as a result of the passage of time, under any Benefit Plan,
Incentive Plan or Securities Plan, employment agreement or other contract, plan
or arrangement.

 

6.                                       Successor
to the Company.

 

(a)                                  The
Company will require any successor or assign (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or assets of the Company, by agreement in form and substance
satisfactory to the Executive, expressly, absolutely and unconditionally to
assume and agree to perform this Agreement in the same manner and to the same
extent that the Company 

 

9

 

would be required to perform it if such
succession or assignment had not taken place. Any failure of the Company to obtain
such agreement prior to the effectiveness of any such succession or assignment
shall be a material breach of this Agreement and shall entitle the Executive to
terminate the Executive’s employment for Good Reason. As used in this
Agreement, “Company” shall mean the Company as herein before defined and any
successor or assign to its business and/or assets as aforesaid which executes
and delivers the agreement provided for in this Section 6 or which
otherwise becomes bound by all the terms and provisions of this Agreement by
operation of law. If at any time during the term of this Agreement the
Executive is employed by any corporation, a majority of the voting securities
of which is then owned by the Company, “Company” as used in Section 3, 4,
12 and 13 hereof shall in addition include such employer. In such event, the
Company agrees that it shall pay or shall cause such employer to pay any
amounts owed to the Executive pursuant to Section 4 of this Agreement.

 

(b)                                 This
Agreement shall inure to the benefit of and be enforceable by the Executive’s
personal and legal representatives, executors, administrators, successors,
heirs, distributees, devisees and legatees. If the Executive should die while
any amounts are still payable to him hereunder, all such amounts, unless
otherwise provided herein, shall be paid in accordance with the terms of this
Agreement to the Executive’s devisee, legatee, or other designee or, if there
be no such designee, to the Executive’s estate.

 

7.                                       Non-compete.  Without the consent in writing of the Board,
Executive will not, at any time during employment with the Company and for a
period of two and one-half (2.5) years following termination of Executive’s
employment for any reason (except as stated below), engage in the management or
control of, or serve as an employee, consultant, agent, proprietor, principal,
partner, major shareholder, corporate officer or director of, any person, firm,
corporation or business (collectively, as “Competing Entity”) that directly and
substantially competes with the products and services of the Company. For
purposes of this Agreement, a Competing Entity is limited to an entity that
derives a significant amount or percentage of its total annual revenue from the
sale of virtual product development software and related services and competes
in one or more of the same geographic markets as the Company. It is agreed that
the ownership of not more than two percent (2%) of the equity securities of any
company having securities listed on an exchange or regularly traded in the
over-the-counter market shall not, of itself, be deemed inconsistent with this Section 7.

 

8.                                       Notice.  For purposes of this Agreement, notices and
all other communications provided for in the Agreement shall be in writing and
shall be deemed to have been duly given when delivered or mailed by United
States certified or registered mail, return receipt requested, postage prepaid,
as follows:

 

10

 

	
  If to the Company:

  	
  MSC.Software Corporation

  
	
   

  	
  SVP Business Administration, General
  Counsel and Secretary

  
	
   

  	
  2 MacArthur Place

  
	
   

  	
  Santa Ana, CA 92707

  
	
   

  	
   

  
	
  If to the Executive:

  	
  John J. Laskey

  
	
   

  	
  11 Vista Lesina

  
	
   

  	
  Newport Coast, CA 92757

  

 

or 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.

 

9.                                       Miscellaneous.  No provisions of this Agreement may be
modified, waived or discharged unless such waiver, modification or discharge is
agreed to in writing signed by the Executive and Company. No waiver by either
party hereto at any time of any breach by the other party hereto of, or
compliance with, 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. 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 set forth expressly in this Agreement. This Agreement shall be governed by
and construed in accordance with the laws of the State of California.

 

10.                                 Validity.  The invalidity or unenforceability of any
provisions of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, which shall remain in full force and
effect.

 

11.                                 Counterparts.  This agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instrument.

 

12.                                 Legal
Fees and Expenses.  The Company shall
pay all legal fees and expenses, which the Executive may incur as a result of
the Company’s contesting the validity, enforceability or the Executive’s
interpretation of, or determinations under, this Agreement.

 

13.                                 Confidentiality.  The Executive shall retain in confidence any
and all confidential information known to the Executive concerning the Company
and its business so long as such information is not otherwise publicly
disclosed.

 

11

 

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

 

	
  ATTEST:

  	
   

  
	
   

  	
   

  
	
  /s/ MARGARET WILLIAMS

  	
   

  	
  By:

  	
  /s/ JOHN LASKEY

  	
   

  
	
   

  	
   

  	
  (Signature of Executive)

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ WILLIAM WEYAND

  	
   

  
	
   

  	
   

  	
  Chairman of the Board and

  	
   

  
	
   

  	
   

  	
  Chief Executive Officer

  	
   

  
					

 

12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]