Document:

Form of Restricted Stock Unit Agreement

 Exhibit 10.11.12 

Form of Restricted Stock Unit Agreement 
 Under the Teradata Corporation 2007 Stock Incentive Plan 
 You have been
awarded a number of restricted stock units (the “Stock Units”) under the Teradata Corporation 2007 Stock Incentive Plan (the “Plan”), as described on the restricted stock unit information page on the website of Teradata’s
third party Plan administrator, subject to the terms and conditions of this Restricted Stock Unit Agreement (this “Agreement”) and the Plan. 
 1. The Stock Units will become non-forfeitable (“Vested”) on the third anniversary of the Grant Date (the “Vesting Date”), provided that you are continuously employed by Teradata or
any of its affiliate companies (referred to collectively herein as “Teradata”) until the Vesting Date. 
 2. If your
employment with Teradata terminates prior to your Vesting Date due to (i) your death; or (ii) cessation of active employment by Teradata as a result of a disability for which you qualify for benefits under the Teradata Long-Term Disability
Plan or another long-term disability plan sponsored by Teradata (“Disability”); then, upon such termination of employment, your Stock Units will become fully Vested. If your employment with Teradata terminates prior to your Vesting Date
due to your (a) Retirement (defined as termination by you of your employment with Teradata at or after age 55 with the consent of the Compensation & Human Resource Committee of the Teradata Board of Directors (the
“Committee”) other than, if applicable to you, for Good Reason (as described below) following a Change in Control (as defined in the Plan); or (b) reduction-in-force; then, upon such termination of employment, a pro rata portion of
the Stock Units will become fully Vested. The pro rata portion of the Stock Units that will become fully Vested will be determined by multiplying the total number of the Stock Units awarded pursuant to this Agreement by a fraction, the numerator of
which is the number of full and partial months of employment that you completed after the date of grant of this award (the “Grant Date”), and the denominator of which is the total number of months during the period beginning on the Grant
Date and ending on your Vesting Date. 
 Notwithstanding any provision in this Agreement to the contrary, in the event a Change
in Control occurs and this restricted stock unit award is not assumed, converted or replaced by the continuing entity, the Stock Units shall become fully Vested immediately prior to the Change in Control. In the event of a Change in Control wherein
this restricted stock unit award is assumed, if a Termination of Employment (as defined in the Plan) by the Company other than for Cause or Disability (as such terms are defined in the Plan) occurs during the twenty-four (24) months following
the Change in Control, the Stock Units shall become fully Vested immediately upon your Termination of Employment. If you are a participant in the Teradata Change in Control Severance Plan, a Teradata Severance Policy or a similar arrangement that
defines “Good Reason” in the context of a resignation following a Change in Control and you terminate your employment for Good Reason as so defined within twenty-four (24) months following a Change in Control, the Stock Units shall
become fully Vested immediately upon your Termination of Employment. 
 3. Except as may be otherwise provided in this
Section 3, when Vested, the Stock Units will be paid to you within 30 days after the Vesting Date in shares of Teradata common stock (such that one Stock Unit equals one share of Teradata common stock) or, in Teradata’s sole discretion, in
an amount of cash equal to the Fair Market Value of such number of shares of Teradata common stock as of the Vesting Date (or such earlier date upon which the Stock Units have become Vested pursuant to Section 2 of this Agreement), or a
combination thereof. 

  

					
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 To the extent that the Stock Units become Vested pursuant to Section 2 of this
Agreement and your right to receive payment of Vested Stock Units constitutes a “deferral of compensation” within the meaning of Section 409A of the Code, then payment of such Stock Units shall be subject to the following rules:
(i) the Stock Units will be paid to you within 30 days after the earlier of (a) your “separation from service” within the meaning of Section 409A of the Code, or (b) the Vesting Date; (ii) notwithstanding the
foregoing, if the Stock Units become payable as a result of your “separation from service” within the meaning of Section 409A of the Code (other than as a result of death), and you are a “specified employee” as determined
under Teradata’s policy for determining specified employees on the date of separation from service, the Stock Units shall be paid on the first business day after the date that is six months following your “separation from service”
within the meaning of Section 409A of the Code; and (iii) Teradata may, in its sole discretion and to the extent permitted by Treasury Regulation § 1.409A-3(j)(4)(ix)(B), terminate this Agreement and pay all outstanding Stock Units to
you within 30 days before or 12 months after a “change in the ownership,” a “change in the effective control” or a “change in the ownership of a substantial portion of the assets” of Teradata within the meaning of
Section 409A of the Code. 
 4. By accepting this award, unless disclosure is required by applicable law or regulation, you
agree to keep this Agreement confidential and not to disclose its contents to anyone except your attorney, your immediate family, or your financial consultant, provided such persons agree in advance to keep such information confidential and not
disclose it to others. The Stock Units will be forfeited if you violate the terms and conditions of this Section 4. 
 5.
At all times before your Vesting Date, the Stock Units may not be sold, transferred, pledged, assigned or otherwise alienated, except by beneficiary designation, will or by the laws of descent and distribution upon your death. As soon as practicable
after your Vesting Date, if Stock Units are to be paid in the form of shares of Teradata common stock, Teradata will instruct its Transfer Agent and/or its third party Plan administrator to record on your account the number of shares of Teradata
common stock underlying the number of Stock Units that you opted to be paid to you in shares of Teradata common stock and such shares will be freely transferable. 
 6. Any cash dividends declared before your Vesting Date on the shares underlying the Stock Units shall not be paid currently, but shall be converted into additional Stock Units. Any Stock Units resulting
from such conversion (the “Dividend Units”) will be considered Stock Units for purposes of this Agreement and will be subject to all of the terms, conditions and restrictions set forth herein. As of each date that Teradata would otherwise
pay the declared dividend on the shares underlying the Stock Units (the “Dividend Payment Date”) in the absence of the reinvestment requirements of this Section 6, the number of Dividend Units will be determined by dividing the amount
of dividends otherwise attributable to the Stock Units but not paid on the Dividend Payment Date by the Fair Market Value of Teradata’s common stock on the Dividend Payment Date. 

7. Teradata has the right to deduct or cause to be deducted from, or collect or cause to be collected, with respect to the taxation of
any Stock Units, any federal, state, local, foreign or other taxes required by the laws of the United States or any other country to be withheld or paid with respect to the Stock Units, and you or your legal representative or beneficiary will be
required to pay any such amounts. By accepting this award, you consent and direct that, if you are paid through Teradata’s United States payroll system at the time the Stock Units vest, Teradata’s stock plan administrator may withhold or
sell the number of Stock Units from your award as Teradata, in its sole discretion, deems necessary to satisfy such withholding requirements. If you are paid through a non-United States Teradata payroll system, you agree that Teradata may satisfy
any withholding obligations by withholding cash from your compensation otherwise due to you or by any other action as it may deem necessary to satisfy any withholding obligation. 

  

					
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 8. The Stock Units will be forfeited if the Committee determines that you engaged in
misconduct in connection with your employment with Teradata. 
 9. In exchange for the Stock Units, you agree that during your
employment with Teradata and for a period of twelve (12) months after the termination of employment (or if applicable law mandates a maximum time that is shorter than twelve months, then for a period of time equal to that shorter maximum
period), regardless of the reason for termination, you will not, without the prior written consent of the Chief Executive Officer of Teradata, (1) render services directly or indirectly to, or become employed by, any Competing Organization (as
defined in this Section 9 below) to the extent such services or employment involves the development, manufacture, marketing, sale, advertising or servicing of any product, process, system or service which is the same or similar to, or competes
with, a product, process, system or service manufactured, sold, serviced or otherwise provided by Teradata to its customers and upon which you worked or in which you participated during the last two (2) years of your Teradata employment;
(2) directly or indirectly recruit, hire, solicit or induce, or attempt to induce, any exempt employee of Teradata to terminate his or her employment with or otherwise cease his or her relationship with Teradata; or (3) solicit the
business of any firm or company with which you worked during the preceding two (2) years while employed by Teradata, including customers of Teradata. If you breach the terms of this Section 9, you agree that in addition to any liability
you may have for damages arising from such breach, any unvested Stock Units will be immediately forfeited, and you agree to pay to Teradata the Fair Market Value of any Stock Units that Vested or cash paid to you in lieu of such Stock Units during
the twelve (12) months prior to the date of your termination of employment. Such Fair Market Value shall be determined as of your Vesting Date. 
 As used in this Section 9, “Competing Organization” means an organization identified as a Competing Organization by the Chief Executive Officer of Teradata for the year in which your
employment with Teradata terminates, and any other person or organization which is engaged in or about to become engaged in research on or development, production, marketing, leasing, selling or servicing of a product, process, system or service
which is the same or similar to or competes with a product, process, system or service manufactured, sold, serviced or otherwise provided by Teradata to its customers. The list of Competing Organizations identified by the Chief Executive Officer is
maintained by the Teradata Law Department. 
 10. By accepting this award, you agree that, where permitted by local law, any
controversy or claim arising out of or related to your employment relationship with Teradata shall be resolved by first exhausting any Teradata internal dispute resolution process and policy, and then by arbitration pursuant to such policy. If you
are employed in the United States, the arbitration shall be pursuant to the Teradata dispute resolution policy and the then current rules of the American Arbitration Association and shall be held in the city of the location of the headquarters of
Teradata. If you are employed outside the United States, where permitted by local law, the arbitration shall be conducted in the regional headquarters city of the business unit in which you work. The arbitration shall be held before a single
arbitrator who is an attorney knowledgeable in employment law. The arbitrator’s decision and award shall be final and binding and may be entered in any court having jurisdiction. For arbitrations held in the United States, issues of
arbitrability shall be determined in accordance with the federal substantive and procedural laws relating to arbitration; all other aspects shall be interpreted in accordance with the laws of the state in which the headquarters of Teradata is
located. Each party shall bear its own attorney’s fees associated with the arbitration, and other costs and expenses of the arbitration shall be borne as provided by the rules of the American Arbitration Association for an arbitration held in
the United States, or similar applicable rules for an arbitration held outside the United States. 
 Notwithstanding the
preceding subparagraph, you acknowledge that if you breach Section 9, Teradata will sustain irreparable injury and will not have an adequate remedy at law. As a result, you agree that in the event of your breach of Section 9 Teradata may,
in addition to any other remedies 

  

					
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available to it, bring an action in a court of competent jurisdiction for equitable relief to preserve the status quo pending appointment of an arbitrator and completion of an arbitration. You
stipulate to the exclusive jurisdiction and venue of the state and federal courts located in the location from which Teradata’s Option program is administered, for any such proceedings. 

11. You may designate one or more beneficiaries to receive all or part of any Stock Units to be distributed in case of your death, and
you may change or revoke such designation at any time. In the event of your death, any Stock Units distributable hereunder that are subject to such a designation will be distributed to such beneficiary or beneficiaries in accordance with this
Agreement. Any other Stock Units not designated by you will be distributable to your estate. If there is any question as to the legal right of any beneficiary to receive a distribution hereunder, the Stock Units in question may be transferred to
your estate, in which event Teradata will have no further liability to anyone with respect to such Stock Units. 
 12. The
provisions of this Agreement are severable. If any provision of this Agreement is held to be unenforceable or invalid by a court or other tribunal of competent jurisdiction (including an arbitration tribunal), it shall be severed and shall not
affect any other part of this Agreement, which will be enforced as permitted by law. 
 13. The terms of this award of Stock
Units as evidenced by this Agreement may be amended by the Teradata Board of Directors or the Committee. 
 14. In the event of
a conflict between the terms and conditions of this Agreement and the terms and conditions of the Plan, the terms and conditions of the Plan shall prevail, except that with respect to matters involving choice of law the terms and conditions of
Section 10 of this Agreement shall prevail. 
 15. Teradata may, in its sole discretion, decide to deliver any documents
related to current or future participation in the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic system established and maintained
by Teradata or a third party designated by Teradata. 

  

					
	Teradata Confidential	  	4Separation Agreement, Release and Covenant Not to Sue

 Exhibit 10.1 
 SEPARATION AGREEMENT, RELEASE AND COVENANT NOT TO SUE 
 This is a
SEPARATION AGREEMENT, RELEASE AND COVENANT NOT TO SUE (this “Agreement”) dated as of February 18, 2011, between OWEN FARREN, and his heirs, assigns, and any person claiming any interest in his employment or
employment related compensation or benefits (collectively and individually referred to as “Employee”) and TECHNOLOGY RESEARCH CORPORATION (the “Company”). 

Background 
 Employee was employed by the Company. The Company and the Employee have agreed to end their relationship on terms that are mutually agreeable. Employee is resigning from the Company’s Board of
Directors and his positions as Chairman of the Board, Director, President, and Chief Executive Officer of the Company. Employee and the Company agree that Employee’s separation from the Company is effective as of his last day of work,
February 14, 2011 (the “Separation Date”). The Company will provide Employee with financial benefits and other consideration in return for Employee’s execution of this Agreement and the release Employee is providing
under this Agreement. 
 Operative Terms 
 The Company and the Employee agree as follows: 
 1. Recitals. The
parties agree that the above Recitals are true and correct and are incorporated into this Agreement by reference. 
 2.
Resignation; Severance Compensation. Employee resigns from the Company’s Board of Directors and his positions as Chairman, President, Chief Executive Officer, and Director of the Company, effective February 14, 2011 (the
“Termination Date”). The Company shall pay to Employee nine months (“the Severance Period”) of his current salary in the total gross amount of $202,500 (less ordinary payroll deductions and any
outstanding advances or other amounts owed by Employee to the Company) (“the Severance Compensation”). The Severance Compensation will be paid on a periodic basis in accordance with the Company’s normal payroll
practices. Payment of the Severance Compensation will not commence until the first available payroll date after the Revocation Period referenced in Section 8 of this Agreement has expired, will be distributed by Company check mailed to
Employee’s address, and is contingent upon Employee’s satisfactorily performing his obligations under this Agreement, including but not limited to all obligations concerning the return of property in Section 3 of the Agreement
and the restrictive covenants in Section 4 of this Agreement. Specifically, if Employee has not satisfactorily performed all of his obligations under this Agreement, Employee will not be entitled to any Severance Compensation and the
Company shall not pay the Severance Compensation; or, if such Severance Compensation has already been paid, Employee shall be required to reimburse the Company in the full amounts paid. 

 3. Return of All Company Property. Employee shall immediately return to the
Company all property of the Company in his possession or under his control, including but not limited to all Company records, files, equipment, supplies, keys, confidential or proprietary information, credit card(s), laptop and phone. In addition,
Employee shall return to the Company on a computer disk any electronically stored information that is the property of the Company, including but not limited to any data and files Employee has stored on his home or other computer or on a portable
storage device; Employee shall also permanently and completely delete and remove such electronically stored information from wherever it is stored and provide written verification of doing so. 

4. Restrictive Covenants. Employee covenants and agrees that: 

(a) Non-Competition: Employee shall not compete with the Company at any time during employment with the Company
and for twelve (12) months after Employee’s termination of employment or resignation. To “compete” means (i) to directly or indirectly establish or aid in establishing, or have effective control over any business competitive
with the Company’s business; or (ii) to become associated with or render services as an employee, independent contractor, consultant or otherwise, to any person, firm, corporation or other entity engaged in any business competitive with
the Company’s business. Mere ownership of less than one percent (1%) of the outstanding common stock of a corporation competitive with the Company’s business whose stock is traded on any major United States stock exchange or on the
over-the-counter market shall not be considered as a violation of this Agreement. For purpose of this Section 4(a), “any business competitive with the Company’s business” shall mean a business that provides power distribution or
power management solutions for military or commercial customers. 
 (b) Non-Solicitation: For twenty-four
(24) months after the termination of Employee’s employment or Employee’s resignation, Employee shall not solicit the business of any of the persons, firms, corporations or other entities who are the Company’s customers, for or on
behalf of Employee (if Employee is competing with the Company) or any person, firm, corporation or other entity that is in competition for the Company’s business. For purpose of this Section 4(b), “any business competitive with the
Company’s business” shall mean a business that provides power distribution or power management solutions for military or commercial customers. 
 (c) Non-Inducement: At all times during Employee’s employment and for twenty-four (24) months after the termination of Employee’s employment or Employee’s resignation, the
Employee shall not, directly or indirectly, induce or attempt to induce any present or former employee of the Company to gain or seek employment with any person or business, or hire any such person. 

(d) Non-Disclosure: At all times during Employee’s employment and after the termination of Employee’s
employment or Employee’s resignation, Employee shall protect and guard the Company’s Confidential Information. Employee shall not at any time, directly or indirectly, disclose to any person, firm, corporation or other entity, or use for
Employee’s own purposes any Confidential Information, regardless of how it is acquired, except as Employee’s use of the Confidential Information may be authorized by the Company; provided, however, that if Employee is required to disclose
any Confidential Information by legal process, including a subpoena to testify or produce documents, Employee shall satisfy his obligations under this Section 4(d) by promptly giving notice to the Company of the demand for disclosure and
cooperating with the Company to contest the disclosure (if the Company so elects) and obtain confidential treatment for any Confidential Information which is disclosed. 

 5. Remedy at Law Insufficient. Employee acknowledges that damages at law will
be an insufficient remedy if Employee violates the terms of Section 4, and that the Company would suffer a decrease in value and irreparable damage as a result of such violation. Accordingly, on a violation of any of those covenants, the
Company, without excluding or limiting any other available remedy, shall be entitled to the following remedies: 

5.1. Upon posting a bond of up to $10,000 and filing with a court of competent jurisdiction an appropriate pleading and
affidavit specifying each obligation breached by Employee, automatic entry by a court having jurisdiction of an order granting an injunction or specific performance compelling Employee to comply with that obligation, without proof of monetary damage
or an inadequate remedy at law; and 
 5.2. The recovery from Employee of all profit, remuneration, or other
consideration that Employee gains from breaching the covenant and all damages that the Company suffers as a result of the breach; and 
 The
foregoing remedies are cumulative to all other remedies afforded by law or in equity, and the Company may exercise any such remedy concurrently, independently, or successively. 

6. Miscellaneous. 
 6.1. Effective as of the Separation Date, Employee agrees that he shall have no authority to and shall not enter or attempt to enter into any agreements with third-parties on behalf of or purportedly on
behalf of the Company. Employee shall also not represent himself as being employed by or associated with the Company. 
 6.2. Employee shall refrain from making any disparaging statements, written or oral, in any forum or media, regarding the Company or its executives, managers, employees, policies, products, processes,
operations, or facilities. The Company agrees not to permit any executive officer of the Company to make any disparaging statements about Executive after the termination of Executive’s employment or Executive’s resignation; provided,
however, that it shall not be considered a breach of this section for (i) any executive officer of the Company to make disparaging statements to another executive officer about Executive and/or his performance in their capacity in operating the
business or (ii) the Company to make a factual statement regarding the circumstances of Executive’s departure if required by law or for a business purpose, with such confidentiality protections as are reasonably practicable. 

6.3. Employee acknowledges and agrees that he has completely disclosed to Company management, in writing, any and all
incidents, events, procedures, practices or occurrences, that he is aware of, which have the potential of exposing the Company to any federal, state, or local civil monetary penalty or exclusion claim or any other claim that Employee believes may
have resulted in a violation of any other federal, state, or local statutes, rules, regulations or guidelines. 

 6.4. Employee further acknowledges that he is not aware of any unreported
work related illness or injury that he has suffered that would entitle his to Workers’ Compensation benefits. 
 6.5. In the event Employee’s testimony or court appearance is required concerning any litigation the Company is now or may be involved in, or if in the Company’s opinion, his appearance or
testimony would be beneficial to the Company’s position, Employee agrees to make himself reasonably available to the Company and its counsel. The Company shall reimburse Employee for his expenses and, after the expiration of the Severance
Period, pay Employee a reasonable per diem for his time spent in litigation support activities. 
 6.6. Employee
acknowledges and agrees that he owns the stock and option rights set forth in Schedule A, that he does not own any other equity or option rights with respect to the Company, that his unvested stock options have expired. The Company shall
extend from 90 days to 180 days from the Separation Date the time period within which Employee may exercise vested options Employee acknowledges that any vested options not so exercised will expire 180 days after the Separation Date. As of the date
of this Agreement, Employee will no longer be eligible to participate in any other benefit programs offered to employees by the Company, including but not limited to, vacation, 401(k) plan, and short-term and long-term disability. 

7. Release and Covenant Not to Sue. 

7.1. Employee, for himself and his heirs, successors, and assigns, and anyone claiming by or through them (collectively,
the “Releasing Parties”), irrevocably and unconditionally releases, waives, and forever discharges TECHNOLOGY RESEARCH CORPORATION, its parent, subsidiaries and affiliates, and each of their respective directors, agents,
attorneys, present and former employees, partners, investors, shareholders, insurers, predecessors, successors, assigns, and representatives (the “Released Parties”), from any and all actual or potential claims, complaints,
liabilities, obligations, promises, actions, causes of action, liabilities, agreements, damages, costs, debts, and expenses of any kind, whether known or unknown, that the Releasing Parties have ever had or now have from the beginning of time
through the date Employee executes this agreement (collectively, the “Released Claims”). Without limitation, the Released Claims include all claims arising out of, related to or connected with Employee’s employment, the
termination of his employment, or the payment of wages, salary, or any other benefit Employee received or claims he should have received in connection with his employment; all claims under Title VII of the Civil Rights Act of 1964, as amended; (42
U.S. C. § 2000e, et seq.); the Civil Rights Acts of 1866, 1871 and 1991, all as amended; 42 U.S.C. § 1981; the Family and Medical Leave Act of 1993, as amended (29 U.S.C. § 2601, et seq.); the Americans With Disabilities Act, as
amended (42 U.S.C. § 12101, et seq.); the Rehabilitation Act of 1973, as amended (29 U.S.C. § 793-94); the Fair Labor Standards Act, as amended (29 U.S.C. § 201, et. seq.); the Equal Pay Act of 1963, as amended (29 U.S.C. § 206);
the Employee Retirement Income Security Act, as amended (29 U.S.C. § 1001, et seq.); the Consolidated Omnibus Budget Reconciliation Act of 1985 (29 U.S.C. § 1161, et seq.); the Age Discrimination in Employment Act (29 U.S.C. § 621 et
seq.); the Older Workers Benefit Protection Act of 1990 (29 U.S.C. § 623); the National Labor Relations Act (NLRA); the Occupational Safety and Health Act (OSHA); and any other federal or state whistle-blower statute or regulation; Chapter 760
of the Florida Civil Rights Act of 1992, as amended; any provision of Chapters 250, 440, 443, 447, 448, and 760 of Florida Statutes; the Florida General Labor Regulations, as amended; any other state law, rule or regulation of any other state; any
local ordinance; workers’ compensation statutes; unemployment compensation laws; and any other federal, state or local statute, rule, regulation or ordinance; any obligations under, arising out of, or related to any actual or quasi-contract,
including but not limited to, salary payments, bonus payments, benefits, stock, or stock options (subject to the terms and conditions set forth in Section 6.6 above and Schedule A); common law claims, including but not limited to
claims of intentional or negligent infliction of emotional distress, negligent hiring, retention, training or supervision, defamation, invasion of privacy, breach of a covenant of good faith and fair dealing, breach of fiduciary duty, breach of
express or implied contract, promissory estoppel, negligence or wrongful termination of employment; any claims for or to past or future unpaid salary, commissions, bonuses, incentive payments, expense reimbursements, health care benefits, life
insurance, disability insurance and any other income or benefits the Releasing Parties received or claim they should receive; and all other claims of any kind, including but not limited to any claims for attorneys’ fees. 

 7.2. The Releasing Parties covenant not to sue any Released Party for any
Released Claim. The Releasing Parties warrant that they have not filed any complaint, claim or charge against a Released Party with any local, state or federal agency or court. The Releasing Parties agree that, if any such agency or court assumes
the prosecution or jurisdiction of any complaint or charge against a Released Party, the Releasing Parties will immediately dismiss the complaint or charge and/or will immediately request such agency or court to dismiss and withdraw from the matter,
and the Releasing Parties will not support the effort of anyone else or any entity that might file an action against a Released Party. In the event the Releasing Parties fail or refuse to undertake these obligations, the Releasing Parties agree that
this Agreement shall operate to effectuate his/their dismissal or withdrawal of such complaint, charge or claim and that the Releasing Parties will forward to the Released Party any monies the Releasing Parties receive from such complaint, charge or
claim. 
 7.3. The Releasing Parties have not assigned or otherwise transferred any interest in any Released
Claim. The Releasing Parties shall not commence, join in, or in any manner seek relief through any suit arising out of, based upon, or relating to any Released Claim. 

7.4. If any provision of this release is held invalid, unenforceable or void to any extent by a court of competent
jurisdiction, the provision shall be modified, if possible, by reducing its duration and scope to allow enforcement of the maximum permissible duration and scope. The Company reserves the right to rescind this Agreement and recover all amounts paid
under it if any provision of this release is held invalid, unenforceable or void. 

 8. Review of this Agreement. 

8.1. Employee acknowledges that he has read each section of this Agreement, that the Agreement is written in a manner
calculated to be understood by Employee, and that Employee in fact understands his rights and obligations under it, including the fact that he is waiving and releasing his rights to sue the Company. 

8.2. Employee is advised to consult with legal counsel before executing this Agreement. 

8.3. Employee acknowledges that the money being paid pursuant to this Agreement and any other consideration is in excess
of all monies or anything else of value owed to him/her. 
 8.4. Employee has up to twenty-one (21) calendar
days following the receipt of this Agreement to consider this Agreement before signing it. However, Employee may consider and sign this Agreement in less time if he so chooses. 

8.5. Employee may revoke this Agreement within seven (7) days after his execution of this Agreement (the
“Revocation Period”). To revoke this Agreement, Employee shall deliver notice of such election in writing to Company’s representative, Robert B. Woltil, before 5:00 p.m. on the seventh day after execution.
If the seventh day does not fall on a business day, then the Revocation Period shall be deemed extended to 5:00 p.m. the next business day. 
 8.6. This Agreement is not effective or enforceable until the Revocation Period has expired, and no monies or other consideration will be sent to Employee until after the Revocation Period has expired
(assuming the Employee has not timely exercised his right to revoke the Agreement). 
 9. Governing Law; Venue; Dispute
Resolution. This Agreement has been delivered in the State of Florida and shall be governed by and construed in accordance with the laws of the State of Florida. Any action based upon or arising out of this Agreement shall lie exclusively in
the federal or state courts located in Pinellas County, Florida. This Agreement shall not be construed to waive any right of removal that may apply to any action filed in any court by either Party. 

10. Arbitration. If any dispute arises between Employee and the Company with respect to this Agreement, either party
may elect (but is not obligated) to submit the dispute to arbitration before a panel of arbitrators in accordance with the Florida Arbitration Code by giving the other party a notice of arbitration in accordance with Section 21 of this
Agreement. If a party elects to arbitrate a dispute, arbitration will be the sole and exclusive method of resolving the dispute, the other party must arbitrate the dispute, and each party will be barred from filing a lawsuit concerning the subject
matter of the arbitration, except to obtain an equitable remedy. 

 The arbitration panel will consist of one arbitrator, who will be a neutral arbitrator
selected by the agreement of one arbitrator selected by the Company and a second selected by Employee, and the third neutral arbitrator selected by agreement of the first two arbitrators. Each party shall select an arbitrator and notify the other
party of the selection within 15 days after the effective date of the notice of arbitration and the two arbitrators selected by the parties shall select the third arbitrator within 30 days after the effective date of the notice of arbitration. A
party who fails to select an arbitrator within the prescribed 15-day period waives the right to have the two selected arbitrators select an arbitrator to arbitrate the dispute, and the arbitrator chosen by the other party will constitute the
“arbitration panel” for purposes of this Agreement. 
 Every arbitrator must be independent (not a relative of
Employee or an officer, director, employee, or shareholder of the Company, the Company or any subsidiary) without any economic or financial interest of any kind in the outcome of the arbitration. Each arbitrator’s conduct will be governed by
the Code of Ethics for Arbitrators in Commercial Disputes (1986) that has been approved and recommended by the American Bar Association and the American Arbitration Association. 

Within 120 days after the effective date of the notice of arbitration, the arbitrator who will arbitrate the dispute shall convene a
hearing for the dispute to be held on such date and at such time and place in Tampa, Florida, as the arbitrator designates upon 60 days’ advance notice to Employee and the Company. The arbitrator shall render his or her decision within 30 days
after the conclusion of the hearing. The decision of the arbitrator will be binding and conclusive as to Employee and the Company and, upon the pleading of either party, any court having jurisdiction may enter a judgment of any award rendered in the
arbitration, which may include an award of damages. The arbitrator shall hear and decide the dispute based on the evidence produced, notwithstanding the failure or refusal to appear by a party who has been duly notified of the date, time, and place
of the hearing. 
 11. No Jury Trial. EACH OF THE EMPLOYEE AND THE COMPANY KNOWINGLY, VOLUNTARILY, AND
INTENTIONALLY WAIVES THE RIGHT TO A JURY TRIAL IN ANY LAWSUIT BETWEEN EMPLOYEE AND THE COMPANY WITH RESPECT TO THIS AGREEMENT. 

12. Entire Agreement; Modification. This Agreement represents the entire agreement of the parties with respect to the
subject matters addressed herein and may not be modified or amended except upon a written agreement signed by both parties. 

13. No Fraud. The parties agree that no inducements, statements or representations have been made that are not set forth in
this Agreement and that they did not rely on any inducements, statements or representations not set forth herein. 
 14.
Binding Effect. This Agreement shall be binding upon the parties and their respective heirs, devisees, legal representatives, personal representatives, successors, and assigns. 

 15. Counterparts and Originals. The parties may execute this Agreement in
counterparts. Each executed counterpart shall be deemed an original, and all of them together shall constitute one document. 

16. Successors and Assigns. This Agreement is not assignable by any party without the prior written consent of the other
parties, and any attempted assignment without the prior written consent of the other parties shall be invalid and unenforceable against the other parties. This Agreement is binding upon, and inures to the benefit of, the respective heirs, authorized
assignees, successors and personal representatives of the parties. 
 17. Titles and Headings. The titles and
headings of the various sections of this Agreement are intended solely for convenience of reference and are not intended to explain, modify or place any interpretation upon any of the provisions of this Agreement. 

18. Severability. If any term or provision of this Agreement is determined to be illegal or unenforceable, to the extent
possible, such term or provision shall be severed from this Agreement and all other terms and provisions shall be remain in full force and effect. 
 19. Gender and Number. As used in this Agreement, the masculine, feminine or neuter gender, and the singular or plural number, shall each include the others whenever the context so requires.

 20. Interpretation. The language used in this Agreement shall not be construed in favor of or against any of
the parties, but shall be construed as if all parties participated jointly in the preparation of this Agreement. The language used in this Agreement shall be deemed to be the language chosen by the parties to express their mutual intent, and no rule
of strict construction shall be applied against any party. 
 21. Legal Fees and Costs. In any litigation that
arises from this Agreement, the prevailing party (or parties) may recover its legal fees and costs from the non-prevailing party (or parties). 
 22. Notices. Except as otherwise specified in this Agreement, every demand, notice, consent, or approval required or permitted to be given by a party under this Agreement will be valid only
if it is (a) in writing, (b) delivered personally or by telecopy, commercial courier, or first class, postage prepaid, United States mail (whether or not certified or registered and regardless of whether a return receipt is requested or
received by the sender), and (c) addressed by the sender to the intended recipient as follows: 
  

			
	If to Company, to:	    	Technology Research Corporation
		    	5250 –140th Avenue North
		    	Clearwater, FL 33760
		    	Attention: Robert D. Woltil

 If to Employee, to
Employee’s address as set forth on the signature page. 

 Or such other address as the intended recipient may designate by written notice given to every other party
to this Agreement in the manner provided in this Section. Each party to this Agreement shall promptly notify every other party of any change in its mailing address. 
 23. Section 409A. For purposes of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), (a) Employee’s right to the
series of installment payments of the Severance Compensation shall be treated as a right to a series of separate payments under Treasury Regulations Section 1.409A-2(b)(2)(iii), and (b) Employee’s termination of employment with the
Company is an “involuntary separation from service” within the meaning of Treasury Regulation Section 1.409A-1(n) as of the Separation Date. The Severance Compensation is intended to be exempt from Section 409A as a short-term
deferral under Treasury Regulation Section 1.409A-1(b)(4) and as exempt separation pay under Treasury Regulation Section 1.409A-1(b)(9)(iii) and (v). 
 PLEASE READ CAREFULLY. THIS GENERAL RELEASE INCLUDES 
 A RELEASE OF ALL
KNOWN AND UNKNOWN CLAIMS. 
 IN WITNESS WHEREOF, Company and Employee have executed this Agreement as of the date first
above written. 
 Executed this 18th day of February, 2011. 
  

							
	 /s/ Kathy R. Farren
	 		  	By:	 	 /s/ Owen Farren

	WITNESS	 		  		 	OWEN FARREN (“Employee”)

							
				
		 		  	Address:	 	11 San Marco Street
		 		  		 	#608
		 		  		 	Clearwater, FL 33767

  

							
	Executed this 18th day of February, 2011.	 		  		 	
			
		 		  	TECHNOLOGY RESEARCH CORPORATION
		 		  	(the “Company”)

							
				
	 /s/ Stacie Ferriss
	 		  	 By:	 	 /s/ Robert D. Woltil

							
	WITNESS	 		  	Title:	 	Vice-President-Finance and Chief Financial Officer

 Schedule A 

 

																	
	 Grant Date
	  	 Plan
	  	 Grant Type
	  	Option Price	 	  	Exercisable
(Vested)	 	  	Expired
(Unvested)	 
	1/22/07	  	2000 Long Term Incentive Plan	  	Incentive Stock Option	  	$	4.95	  	  	 	40,000	  	  	 	0	  
	8/13/07	  	2000 Long Term Incentive Plan	  	Incentive Stock Option	  	$	3.43	  	  	 	50,000	  	  	 	0	  
	8/13/07	  	2000 Long Term Incentive Plan	  	Non-Qualified Stock Option	  	$	3.43	  	  	 	5,831	  	  	 	0	  
	3/6/08	  	2000 Long Term Incentive Plan	  	Non-Qualified Stock Option	  	$	2.94	  	  	 	33,333	  	  	 	16,667	  
	12/15/08	  	Amended and Restated 2000 Long Term Incentive Plan	  	Non-Qualified Stock Option	  	$	1.70	  	  	 	13,333	  	  	 	6,667	  
	6/9/10	  	Amended and Restated 2000 Long Term Incentive Plan	  	Non-Qualified Stock Option	  	$	5.10	  	  	 	0	  	  	 	9,800	  

 The foregoing lists all restricted stock
grants held by Employee. Exercise of the foregoing options is subject to the applicable plan and stock option agreement between the Company and Employee. Employee acknowledges that any vested options will not be exercisable after 180 days following
the Separation Date. Employee acknowledges that all unvested options are forfeited. Any stock options not listed above are forfeited. 
  

													
	 Grant Date
	  	 Plan
	  	 Grant Type
	  	Vested Shares	 	  	Expired Unvested
Shares	 
	12/15/08	  	Amended and Restated 2000 Long Term Incentive Plan	  	Restricted Stock	  	 	6,667	  	  	 	3,333	  
	6/9/10	  	Amended and Restated 2000 Long Term Incentive Plan	  	Restricted Stock	  	 	0	  	  	 	5,400	  

 The foregoing lists all restricted stock
grants held by Employee. Each of the foregoing stock grants is subject to the applicable plan and restricted stock agreement between the Company and Employee. Employee acknowledges that all unvested stock is forfeited.

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