Document:

Exhibit
10.2

MACK-CALI
REALTY CORPORATION

TAX
GROSS-UP AGREEMENT

AGREEMENT
(“Agreement”) effective as of                         
by and between Mack-Cali Realty Corporation (the “Company”) and                          
(“Employee”).

WHEREAS,
pursuant to the 2000 Employee Stock Option Plan of Mack-Cali Realty Corporation
(the “Plan”), the Company, on                            ,
awarded                                
shares (“Restricted Shares”) of the Company’s common stock, par value $.01 per
share (“Company’s Common Stock”) to the Employee subject to the terms,
conditions, and restrictions set forth in the Plan and the Restricted Share
Award Agreement between the Employee and the Company dated                      
(hereinafter, “Restricted Share Award Agreement”); and

WHEREAS,
the Company wishes to provide the Employee with a tax gross-up payment upon the
date of grant applicable to such Restricted Shares;

NOW
THEREFORE, the parties hereto agree as follows:

1.            
Employee shall be entitled to receive a tax gross-up payment (the “Tax Gross-Up
Payment”) from the Company with respect to each tax year in which the
Restricted Shares granted pursuant to the Restricted Share Award Agreement vest
and are distributed to him.  Each Tax Gross-Up Payment shall be a dollar
amount equal to forty-three percent (43%) of the fair market value of the
Restricted Shares at the time of vesting, exclusive of dividends.

2.            
The Tax Gross-Up Payment shall be made as soon as practicable following the
date of vesting.

3.            
The Company shall have the right to deduct and withhold from the Tax Gross-Up
Payment all social security and other federal, state and local taxes and
charges which currently are or which hereafter may be required by law to be so
deducted and withheld.

4.            
Nothing in this Agreement shall confer on the Employee any right to continue as
an employee of the Company or in any way affect the Company’s or any subsidiary’s
right to terminate the Employee’s employment at any time subject to the terms
of the Employee’s employment agreement.

5.            
This Agreement contains the entire understanding of the parties with respect to
the payment of the Tax Gross-Up Payment and this Agreement shall not be
modified or amended except in writing and duly signed by each of the parties.

6.            
This Agreement is not intended to provide for an elective deferral of
compensation that would be subject to Section 409A of the Internal Revenue Code
of 1986, as amended.

7.            
This Agreement shall be governed by the laws of the State of New Jersey
applicable to contracts made, and to be enforced, within the State of New
Jersey.

8.            
This Agreement shall be binding upon and inure to the benefit of the
successors, assigns and heirs of the respective parties.

IN
WITNESS WHEREOF, the parties hereto have executed this
Agreement to be effective on the date first above written.

	
  

  	
  MACK-CALI
  REALTY CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EMPLOYEEExhibit 10.1

EMPLOYMENT AND EXECUTIVE SEVERANCE AGREEMENT

This EMPLOYMENT
AND EXECUTIVE SEVERANCE AGREEMENT (this “Agreement”), effective as of September
14, 2007, is entered into by and between, THOMAS W. STEIPP (“Executive”) and
SYMMETRICOM, INC. (the “Company”).

RECITALS

WHEREAS, Executive
is currently employed by the Company as President and Chief Executive Officer;

WHEREAS, the
parties now desire to supersede and replace the Employment Agreement dated July
1, 2001, and the Change of Control Retention Agreement dated July 1, 2001, and
any other agreement relating to Executive’s employment with the Company or
Executive’s severance benefits in the event of his severance from employment
with the terms and provisions set forth herein;

WHEREAS, it is
expected that the Company from time to time will consider the possibility of an
acquisition by another company or other change of control, and the Board of
Directors of the Company (the “Board”) recognizes that such consideration can
be a distraction to the Executive and can cause the Executive to consider
alternative employment opportunities;

WHEREAS, the Board
has determined that it is in the best interests of the Company and its
stockholders to assure that the Company will have the continued dedication and
objectivity of the Executive, notwithstanding the possibility, threat or
occurrence of a Change of Control (as defined below) of the Company;

WHEREAS, the Board
believes that it is in the best interests of the Company and its stockholders
to provide the Executive with an incentive to continue his employment and to
motivate the Executive to maximize the value of the Company upon a Change of
Control for the benefit of its stockholders; and

WHEREAS, the Board
believes that it is imperative to provide the Executive with
retention/severance benefits following a Change of Control which provides the
Executive with enhanced financial security and provides incentive and
encouragement to the Executive to remain with the Company notwithstanding the
possibility of a Change of Control.

AGREEMENT

The parties, intending to be legally bound, agree as
follows:

1.                                      EMPLOYMENT PERIOD.

1.1          Basic Term.   The Company
shall employ Executive from the date of this Agreement through December 31,
2007 (the “Term Date”), or such later date through which this Agreement may be
extended under Section 1.2, unless Executive is terminated sooner in accordance
with Section 4.

1.2          Renewal.  Unless terminated sooner in accordance with
Section 4, this Agreement shall be renewed for an additional one (1) year
period on the Term Date and on each anniversary thereof, unless one party gives
to the other advance written notice of nonrenewal at least 60 days prior to
such date.  The Company may elect not to
renew this Agreement only for Cause, within the meaning of Section 12.1.

2.                                      POSITION AND RESPONSIBILITIES.

2.1          Position.  Executive accepts employment with the Company
as Chief Executive Officer and shall perform all services appropriate to that
position.

2.2          Outside Activity.  Except upon the prior written consent of the Company,
Executive, during his employment with the Company, shall not engage, directly
or indirectly, in any other business, commercial, or professional activity
(whether or not pursued for pecuniary advantage) that is or may be competitive
with the Company, create a conflict of interest with the Company, or otherwise
interfere with the business of the Company or any of its affiliates.

3.                                      COMPENSATION AND BENEFITS.

3.1          Base Salary.  Executive’s base salary shall be at the
annual rate of $475,000 for fiscal 2007 (the year ending June 30, 2007). At or
near each fiscal year thereafter, Executive’s annual base salary shall be
increased by an amount mutually determined by Executive and the Board of
Directors or its Compensation Committee.

3.2          Incentive Compensation.  Executive shall participate in the Company’s
Management Incentive Plan, the terms of which shall be determined each fiscal
year by the Board of Directors or the Compensation Committee. For fiscal year
2007 Executive shall be eligible to earn up to 75% of Executive’s Base Salary
as Incentive Compensation (“Target Bonus”).  The maximum Target Bonus may be adjusted from
time to time by the Compensation Committee in their sole discretion.  The exact amount of the Target Bonus awarded
the Executive in any given year shall be determined by the Compensation
Committee in their sole discretion.

3.3          Equity Compensation.  The parties acknowledge that Executive has
the same right to participate in the Company’s current Stock Option Plan and in
future Stock Option Plans as other Company executives.

3.4          Relocation Assistance.  The parties acknowledge
that the Company provided Executive certain assistance in relocating to the San
Francisco Bay Area from Atlanta, Georgia, including the extension of two loans,
the principal terms and conditions of which are as follows:

(a)           Interest-Bearing Loan.
In March 1998, the Company loaned Executive the principal amount of $400,000,
with an interest rate of 6.0% (the “Interest-Bearing Loan”), and agreed to
forgive such principal and interest in four equal installments. The four forgiveness
installments were made on June 30, 1998, 1999, 2000 and 2001.

(b)           Interest-Free Loan.
 In March 1998, the Company loaned
Executive the principal amount of $500,000, free of interest (the “Interest-Free
Loan”). This loan is intended to

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qualify as a relocation loan under Section 7872 of the
Internal Revenue Code. Except as provided in Section 4 of this Agreement, the
Interest-Free Loan shall become: (y) due and payable in a single installment on
the tenth anniversary of its making (March 25, 2008); and (z) interest-bearing
in the event Executive ceases to be an employee of  the Company.

3.5          Benefits.  Executive shall receive the following
benefits.

(a)           eligibility to
participate in the SymmetriCom Executive Medical Plan;

(b)           long-term
disability insurance coverage;

(c)           life insurance
coverage;

(d)           eligibility to
participate in the Company’s retirement and deferred compensation plans; and

(e)           four weeks’ annual
paid vacation.

3.6          Business Equipment.  The Company shall furnish Executive with such
computers, software, peripheral equipment and Internet access as Executive
shall reasonably require for his business and home offices, and shall pay the
associated monthly maintenance and access costs therefor.  The Company also shall furnish Executive with
a cellular telephone, and shall pay the monthly telephone bill therefor.

4.                                      TERMINATION OF EMPLOYMENT.

4.1          By Death.  Executive’s employment shall terminate upon
his death. In the event of such termination, the Company shall:  (a) pay to Executive’s estate each month
through the end of the second month following the month in which Executive’s
death occurred an amount equal to the monthly salary to which Executive was
entitled under Section 3.1 at the time of his death; (b) promptly transfer to
Executive’s estate any accrued but unpaid incentive compensation to which
Executive may have been entitled under Section 3.2; and (c) promptly reimburse
Executive’s estate for any outstanding reasonable business expenses incurred by
Executive prior to his death.   Thereafter, the Company’s
obligations hereunder shall terminate. This Section shall not affect
entitlement of Executive’s estate or beneficiaries to death benefits under any
benefit provided to Executive by the Company.

4.2          By Disability.  This Agreement shall terminate as of the end
of the calendar month in which Executive: (a) is and has been during each of
the immediately preceding five (5) or more consecutive whole calendar months
unable to perform his duties under this Agreement because of mental or physical
illness or injury; and (b) has been determined by the insurer that issued the
Company’s long-term disability policy in effect pursuant to Section 3.5 to be
eligible to commence receiving long-term disability benefits. In the event of
such termination, the Company shall: (i) pay Executive the salary to which he
is entitled pursuant to Section 3.1 through the date of termination; (ii) promptly
transfer to Executive’s estate any accrued but unpaid incentive compensation to
which Executive may have been entitled under Section 3.2; and (iii) promptly
reimburse Executive for any outstanding reasonable business expenses incurred
by Executive prior to his termination.  Thereafter,
the obligations of the Company shall

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terminate. This Section shall not in any way diminish
Executive’s right to receive disability insurance proceeds.

4.3          By the Company for Cause.  The  Company
may terminate Executive’s employment for Cause (as defined in Section 12)
without notice at any time after the written warning and minimum cure period
have been provided in accordance with Section 12. In the event of such
termination, the Company shall: (a) pay Executive the salary to which he is
entitled pursuant to Section 3.1 through the date of termination; (b) promptly
transfer to Executive any accrued but unpaid incentive compensation to which he
is entitled pursuant to Section 3.2; and (c) promptly pay any outstanding
reasonable business expenses incurred by Executive prior to such termination.  Thereafter, the
obligations of the Company shall terminate.

4.4          By the Company Other Than for Cause (Including
Non-Renewal) or By Executive for Good Reason.  Except as expressly provided in Section 4.2
or 4.5, if Executive is terminated from the Company other than for Cause, or if
the Company fails to renew this Agreement other than for Cause, or if Executive
resigns from the Company for Good Reason within 90 days following the event
constituting Good Reason, then the Company shall:

(a)           within 30 days of
such termination, pay Executive a lump sum equal to the sum of (i) Executive’s
annual base salary as in effect as of the date of such termination, and (ii) 100%
of Executive’s Target Bonus for the year prior to the year in which the
termination occurs;

(b)           provide to
Executive 100% Company-paid health, dental, vision and life insurance coverage
at the same level of coverage as was provided to Executive immediately prior to
the date of termination (the “Company-Paid Coverage”). If such coverage
included the Executive’s dependents immediately prior to the date of
termination, such dependents shall also be covered at the Company’s expense.
Company-Paid Coverage shall continue until the earlier of: (i) the end of the 18th
month following the month in which the date of termination occurred, or (ii) the
date that the Executive and his dependents become covered under another
employer’s group health, dental, vision and life insurance plans that provide
Executive and his dependents with comparable benefits and levels of coverage.  For purposes of Title X of the Consolidated
Budget Reconciliation Act of 1985 (“COBRA”), the date of the “qualifying event”
for Executive and his dependents shall be the date upon which the Company-Paid
Coverage terminates;

(c)           forgive any
remaining amounts due on the loans described in Section 3.4, and within 30 days
of such forgiveness of indebtedness shall pay Executive in a single lump sum an
amount (“Gross-Up Payment”) estimated by the Company in good faith to be 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 income taxes and excise tax imposed upon the Gross-Up Payment,
the Executive retains an amount of the Gross-Up Payment equal to the total
federal and state taxes imposed upon the forgiveness of indebtedness.

4.5          By Executive Other Than For Good
Reason. At any time after the Term Date, Executive may
terminate his employment, other than for Good Reason, by providing the Company
at least sixty (60) days’ advance written notice.  The Company shall have the option, in its
complete discretion, to make Executive’s termination effective at any time
prior to the end of such notice period. Should Executive terminate his
employment under this provision, the

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Company shall pay Executive all salary and incentive
compensation earned through the last day actually worked, plus an amount equal
to the base salary Executive would have earned through the balance of the above
notice period, not to exceed 60 days. Thereafter, except as set forth herein,
all of the Company’s obligations under this Agreement shall cease.

4.6          By Change of Control.  Notwithstanding Sections
4.1 – 4.5, if there is a Change of Control, payments to Executive upon
termination of employment shall be determined in accordance with this Section
4.6.

(a)           Involuntary Termination other than
for Cause, Death or Disability or Voluntary Termination for Good Reason Within 12
Months Following A Change of Control.  If Executive’s employment with the
Company terminates within 12 months following a Change of Control by virtue of
(x) an involuntary termination by the Company other than for Cause, (y)
Executive’s death or Disability, or (z) a voluntary termination for Good
Reason, then the Company shall provide Executive with the following benefits:

(i)            Base Salary and Target Bonus Payment.
Within 30 days of the triggering event, pay Executive a lump sum equal to three
times the sum of (x) Executive’s annual base salary as in effect as of the date
of such termination, and (y) 100% of Executive’s Target Bonus for the year
prior to the year in which the payment occurs;

(ii)           Equity Compensation Vesting.
Immediately and fully vest Executive’s outstanding stock options and shares of
stock, if any, subject to restricted stock purchase agreements;

(iii)         COBRA and Life Insurance.
Provide to Executive, upon his termination of employment with the Company, 100%
Company-paid health, dental, vision and life insurance coverage at the same
level of coverage as was provided to Executive immediately prior to the date of
termination (the “Company-Paid Coverage”). If such coverage included the
Executive’s dependents immediately prior to the date of termination, such
dependents shall also be covered at the Company’s expense. Company-Paid
Coverage shall continue until the earlier of (x) the end of the 18th month
following the month in which the date of termination occurred, or (y) the date
that the Executive and his dependents become covered under another employer’s
group health, dental, vision and life insurance plans that provide Executive
and his dependents with comparable benefits and levels of coverage. For
purposes of Title X of the Consolidated Budget Reconciliation Act of 1985 (“COBRA”),
the date of the “qualifying event” for Executive and his dependents shall be
the date upon which the Company-Paid Coverage terminates.

(b)           Voluntary Resignation; Termination
for Cause. If the Executive’s employment terminates by reason
of the Executive’s voluntary resignation (and is not a voluntary termination
for Good Reason), or if the Executive is terminated for Cause, then the
Executive shall not be entitled to receive severance or other benefits except
for those (if any) as may then be established under the Company’s then existing
severance and benefits plans or pursuant to other written agreements with the
Company, except that Executive shall receive the Company-Paid Coverage if he
remains employed with the Company for 12 months following a Change of Control.

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(c)           Termination After the 12 Month Period
Following a Change of Control. In the event the Executive’s
employment is terminated for any reason after the 12 month period following a
Change of Control, then the Executive shall be entitled to receive severance
and any other benefits only as may then be established under the Company’s
existing severance and benefits plans or pursuant to other written agreements
with the Company.

5.             TAXATION
OF SEVERANCE BENEFITS.

In the event that the benefits provided for in Section
4.6 of this Agreement or otherwise payable to the Executive constitute “parachute
payments” within the meaning of Section 280G of the Internal Revenue Code of
1986, as amended (the “Code”), and will be subject to the excise tax imposed by
Section 4999 of the Code, then the Company shall pay Executive an amount (“Gross-Up
Payment”) 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 income 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 upon the Payments. Such Gross-Up Payment shall be paid to the Executive
by the end of the calendar year next following the calendar year in which the
Executive or the Company remits the excise tax imposed by Section 4999 of the
Code.  Unless the Company and Executive
otherwise agree in writing, any determination required under this Section 5
shall be made in writing by independent public accountants agreed to by the
Company and Executive(the “Accountants”), whose determination shall be
conclusive and binding upon Executive and the Company for all purposes. For
purposes of making the calculations required by this Section 5, the Accountants
may make reasonable assumptions and approximations concerning applicable taxes
and may rely on reasonable, good faith interpretations concerning the
application of Sections 280G and 4999 of the Code. The Company and Executive
shall furnish to the Accountants such information and documents as the
Accountants may reasonably request in order to make a determination under this
Section 5. The Company shall bear all costs the Accountants may reasonable
incur in connection with any calculations contemplated by this Section 5.

6.                                      NO
SOLICITATION/RAIDING OF EMPLOYEES.

Executive acknowledges and agrees that the Company has
invested substantial time and effort in assembling its staff.  Accordingly, Executive agrees and covenants
that, for a period of 18 months following the termination of his employment
with Company pursuant to Section 4.4, above, Executive will not, directly or
indirectly, attempt to recruit, induce or solicit any employee to leave his/her
employment with the Company.

7.                                      NON-DISCLOSURE.

Executive agrees to maintain in strict confidence any
confidential and proprietary information pertaining to the business of the Company,
its agents, representatives, officers, staff and all related entities.

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8.                                      CONSIDERATION
FOR NO SOLICITATION/RAIDING OF EMPLOYEES AND NON-DISCLOSURE.

In consideration of Executive’s covenants and promises
herein contained in Sections 6 and 7, and notwithstanding any provision in any
Stock Option Plan or Stock Agreement, 1/3 of the shares subject to unvested
stock options held by Executive, and 1/3 of any unvested restricted stock held
by Executive, shall be vested immediately upon the termination of his
employment with the Company pursuant to Section 4.4 above.  Executive shall have until the first anniversary
of the date of termination to exercise any such options as to which the vesting
shall have been accelerated in accordance with this Section 8.

9.                                      SUCCESSORS.

9.1          Company’s Successors.
Any successor to the Company (whether direct or indirect and whether by
purchase, merger, consolidation, liquidation or otherwise) to all or
substantially all of the Company’s business and/or assets shall assume the
obligations under this Agreement and agree expressly to perform the obligations
under this Agreement in the same manner and to the same extent as the Company
would be required to perform such obligations in the absence of a succession.
For all purposes under this Agreement, the term “Company” shall include any
successor to the Company’s business and/or assets which executes and delivers
the assumption agreement described in this Section 9.1 or which becomes bound
by the terms of this Agreement by operation of law.

9.2          Executive’s Successors.
The terms of this Agreement and all rights of the Executive hereunder shall
inure to the benefit of, and be enforceable by, the Executive’s personal or
legal representatives, executors, administrators, successors, heirs,
distributees, devisees and legatees.

10.                               NOTICES.

10.1        General. Notices and
all other communications contemplated by Agreement shall be in writing and
shall be deemed to have been duly given when personally delivered, one day
following mailing via Federal Express or similar overnight courier service,
upon facsimile transmission, after confirmation of receipt of such
transmission, or as of five business days after deposit in the United States
mail in a sealed envelope, registered or certified, with postage prepaid. In
the case of the Executive, mailed notices shall be addressed to him at the home
address that he most recently communicated to the Company in writing. In the
case of the Company, mailed notices shall be addressed to its corporate
headquarters, and all notices shall be directed to the attention of its
Secretary.

10.2        Notice of Termination.
Any termination by the Company for Cause or by Executive pursuant to a
Voluntary Termination for Good Reason shall be communicated by a notice of
termination to the other party hereto given in accordance with Section 10.1,
above, and after the period for cure, as required by Section 12, has been
provided. Such notice shall indicate the specific termination provision in this
Agreement relied upon, set forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination under the provision so
indicated and specify the termination date, which shall be not more than 30
days after the giving of such notice. The failure by Executive to include in
the notice any fact or circumstance which contributes to a showing of a
voluntary termination for Good Reason shall not waive any right of

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Executive hereunder or preclude Executive from
asserting such fact or circumstance in enforcing his rights hereunder.

11.                               MISCELLANEOUS
PROVISIONS.

11.1        No Duty to Mitigate.
Executive shall not be required to mitigate the value of any benefits
contemplated by the Agreement, nor shall any such benefits be reduced by any
earnings or benefits that Executive may receive from any other source.

11.2        Waiver. No provision
of this Agreement shall be modified, waived or discharged unless the
modification, waiver or discharge is agreed to in writing and signed by the
Executive and an authorized officer of the Company (other than Executive). No
waiver by either party of any breach of, or of compliance with, any condition
or provision of this Agreement by the other party shall be considered a waiver
of any other condition or provision or of the same condition or provision at
another time.

11.3        Entire Agreement. No
agreements, representations or understandings whether oral or written, express
or implied) which are not expressly set forth or referenced in this Agreement
(including without limitation the the Interest Free Loan) have been made or
entered into by either party with respect to the subject matter hereof. This
Agreement represents the entire understanding of the parties hereto with
respect to the subject matter hereof.  To
the extent the terms of this Agreement conflict in any way with the terms of
any other agreement between the Company and the Executive, the terms of this Agreement
shall control.  Effective upon the
effective date hereof  the Employment
Agreement dated July 1, 2001, and the Change of Control Retention Agreement
dated July 1, 2001 shall be terminated and of no further force or effect.

11.4        Choice of Law. The validity,
interpretation, construction and performance of this Agreement shall be
governed by the laws of the State of California, with the exception of its
conflict of laws provisions.

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

11.6        Counterparts. This
Agreement may be executed in counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same document.

11.7        Attorneys’ Fees. The Company
hereby agrees to pay the cost of Executive’s attorney’s fees reasonably
incurred in negotiating and documenting the terms of this Agreement. In the
event of a controversy arising in connection with the interpretation or
enforcement of this Agreement, the prevailing party shall be entitled to
receive the cost of his or its reasonable attorney’s fees from the
non-prevailing party.

12.                               DEFINITIONS.

The following terms referred to in this Agreement
shall have the following meanings:

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12.1        Cause. Termination
shall be for “Cause” if:

(a)           Executive grossly
neglects significant duties he is required to perform or egregiously violates a
material written policy of the Company, other than as a result of incapacity
due to physical or mental illness, and, after (i) being warned in writing, and
(ii) having had a reasonable opportunity to cure (the length of such cure
period to be determined by taking into account the nature of the conduct
resulting in the warning, but in no event to be less than 30 days), continues
to grossly neglect such duties or egregiously violate the specified Company
policy;

(b)           Executive commits a
material act of dishonesty or fraud; or

(c)           Executive is
convicted of any serious felony.

12.2        Good Reason. “Good
Reason” means any one or more of the following events which the Company fails
to cure by the Company within the 30-day period immediately following written
notice from Executive to the Company of the occurrence of such event:

(a)           a significant
reduction in Executive’s title, authority, duties or reporting relationships;
provided, however, that “Good Reason” shall not exist merely by reason of a
Change of Control to the extent that after such Change of Control, Executive is
the Chief Executive Officer of the Company;

(b)           without Executive’s
express written consent, the relocation of Executive’s principal place of
employment to a location more than 30 miles from Executive’s current residence;

(c)           any failure by the Company
or its affiliates to pay, or any reduction by the Company or its affiliates of,
Executive’s base salary, incentive compensation, equity compensation or benefits
received by Executive (prior to any Change of Control if Section 4.6 is
applicable.

12.3        Other than for Cause.
Involuntary termination shall be “other than for Cause” unless Executive is
terminated for engaging in conduct described in Section 12.1.

12.4        Change in Control. “Change
in Control” means:

(a)           the sale, lease,
conveyance or other disposition of all or substantially all of the Company’s
assets as an entirety or substantially as an entirety to any person, entity or
group of persons acting in concert;

(b)           any transaction or
series of related transactions that results in any Person (as defined in
Section 13(h)(8)(E) under the Securities Exchange Act of 1934) becoming the
beneficial owner (as defined in Rule 13d-3 under the Securities Exchange Act of
1934), directly or indirectly, of more than 45% of the aggregate voting power
of all classes of common equity of the Company, except if such Person is (i) a
subsidiary of the Company, (ii) an employee stock ownership plan for employees
of the Company or (iii) a company formed to hold the Company’s

 9
 

common equity securities and whose shareholders
constituted, at the time such company became such holding company,
substantially all the shareholders of the Company;

(c)           a change in the
composition of the Company’s Board of Directors occurring within a two-year
period, as a result of which fewer than a majority of the directors are
Incumbent Directors. “Incumbent Directors” shall mean directors who either (i)
are directors of the Company as of the date hereof, or (ii) are elected, or
nominated for election, to the Board with the affirmative votes of at least a
majority of the Incumbent Directors at the time of such election or nomination
(but shall not include an individual whose election or nomination is in
connection with an actual or threatened proxy contest relating to the election
of directors to the Company;

(d)           the consummation of
a merger or consolidation of the Company with any other corporation other than
a merger or consolidation which would result in the voting securities of the
Company outstanding immediately prior thereto continuing to represent (either
by remaining outstanding or by being converted into voting securities of the
surviving entity) at least 55% of the total voting power represented by the
voting securities of the Company or such surviving entity outstanding
immediately after such merger or consolidation.

13.          SECTION 409A.

Notwithstanding any provision to the contrary in the
Agreement, if the Executive is deemed at the time of his separation from
service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i)
of the Code, to the extent delayed commencement of any portion of the benefits
to which Executive is entitled under this Agreement is required in order to
avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such
portion of Executive’s benefits shall not be provided to Executive prior to the
earlier of (a) the expiration of the six-month period measured from the date of
the Executive’s “separation from service” with the Company (as such term is
defined in the Treasury Regulations issued under Section 409A of the Code) or
(b) the date of Executive’s death.  Upon
the expiration of the applicable Code Section 409A(a)(2)(B)(i) period, all
payments deferred pursuant to this Section 13 shall be paid in a lump sum to the
Executive, and any remaining payments due under the Agreement shall be paid as
otherwise provided herein.

[signature page follows]

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IN WITNESS
WHEREOF, each of the parties has executed this Agreement, in the case of the
Company by its duly authorized officer, as of the day and year set forth below.

	
  

  	
  THOMAS W. STEIPP

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Thomas W.
  Steipp

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Date:

  	
  September 14,
  2007

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SYMMETRICOM, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William Slater

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  William Slater

  
	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
  Executive Vice President Finance and

  Administration and Chief Financial

  Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
  September 14, 2007

  
						

 

 11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]