Document:

Exhibit

2011 EQUITY INCENTIVE PLAN 
OF SYNIVERSE CORPORATION 
RESTRICTED STOCK UNIT AWARD AGREEMENT
THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (the “Agreement”) is entered into as of this ___ day of _____, 2016 (the “Grant Date”) by and between Syniverse Corporation (the “Company”) and [recipient name] (the “Recipient”).  
AGREEMENT
In consideration of the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereby agree as follows:
ARTICLE 1
DEFINITIONS

1.1Definitions.  As used in this Agreement, and unless the context requires a different meaning, the following terms have the meanings specified below.  All capitalized terms used in this Agreement without definition shall have the meanings ascribed in the Plan.

(a)“Change in Control” means any transaction or series of transactions pursuant to which any Person or group of related Persons other than the Carlyle Entities and their respective Affiliates in the aggregate acquire(s) (i) beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of equity securities of the Company possessing the voting power (other than voting rights accruing only in the event of a default, breach or event of noncompliance that has not yet occurred) to elect a majority of the Board (whether by merger, consolidation, reorganization, combination, sale or transfer of the Company’s equity, securityholder or voting agreement, proxy, power of attorney or otherwise) or (ii) all or substantially all of the Company’s assets determined on a consolidated basis; provided that a Public Offering shall not constitute a Change in Control; provided, further, that any transaction or series of transactions shall only constitute a Change in Control if such transaction or series of transactions constitutes a “change in control event” within the meaning of Section 409A of the Code.

(b)“Contractual Obligation” means as to any Person, any provision of any security issued by such Person or any provision of any agreement, lease of real or personal property, undertaking, contract, indenture, mortgage, deed of trust or other instrument to which such Person is a party or by which it or any of its property is bound.

(c)“Governmental Authority” means the government of any nation, state, city, locality or other political subdivision of any thereof, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, and any corporation or other entity exercising public functions owned or controlled, through stock or capital ownership or otherwise, by any of the foregoing.

(d)“Plan” means the 2011 Equity Incentive Plan of Syniverse Corporation, as may be amended from time to time.

(e)“Public Offering” shall mean the sale in an underwritten public offering registered under the Securities Act of equity securities of the Company or a corporate successor to the Company.

(f)“Requirements of Law” means, as to any Person, the provisions of the Certificate of Incorporation and By-laws or other organizational or governing documents of such Person, and any law, treaty, rule, regulation, right, privilege, qualification, license or franchise, order, judgment, or determination, 

in each case, of an arbitrator or a court or other Governmental Authority, in each case, applicable to or binding upon such Person or any of its property (or to which such Person or any of its property is subject) or applicable to any or all of the transactions contemplated by, or referred to in, this Agreement.

ARTICLE 2
GRANT OF RESTRICTED STOCK UNITS

2.1Award of RSUs.  Effective as of the Grant Date, the Company hereby grants to the Recipient an award of [number granted] restricted stock units (“RSUs”), upon the terms and conditions set forth in the Plan and this Agreement.  Each RSU represents the right to receive one Share as set forth in Section 4.1, at the times and subject to the conditions set forth herein.  However, unless and until the RSUs become vested, the Recipient will have no right to the payment of any Shares subject thereto.  Prior to the actual delivery of any Shares, the RSUs will represent an unsecured obligation of the Company, payable only from the general assets of the Company. 

ARTICLE 3
VESTING

3.1Vesting.  Subject to Sections 3.2, 3.3 and 3.4, the RSUs shall become vested and non-forfeitable in two installments as follows:

(a)The first installment shall consist of 50% of the RSUs and shall become vested on the 18 month anniversary of the Grant Date; and

(b)The second installment shall consist of 50% of the RSUs and shall become vested on the 36 month anniversary of the Grant Date. 

3.2Termination of Employment.  In the event of the termination of employment as an Employee with the Company and its Subsidiaries, the unvested RSUs shall be automatically forfeited by the Recipient as of the date of such termination of employment and shall not thereafter become vested.

3.3Change in Control Vesting.  Subject to Section 3.2 and 3.4, the RSUs shall become vested and non-forfeitable in the event of termination of service without Cause within the twelve (12)-month period immediately following a Change in Control.

3.4Discretionary Vesting.  The Administrator may, in its sole discretion, accelerate the vesting of any portion of the RSUs that has not been forfeited pursuant to Section 3.2 and has not otherwise become vested pursuant to Section 3.1, Section 3.3 or otherwise.  

ARTICLE 4
ISSUANCE OF COMMON STOCK

4.1Issuance of Shares.  As soon as administratively practicable following the vesting of any RSUs pursuant to Section 3 or otherwise, and, in any event, within sixty (60) days following such vesting (for the avoidance of doubt, this deadline is intended to comply with the “short-term deferral” exemption from Section 409A of the Code), the Company shall deliver to the Recipient a number of Shares equal to the number of RSUs that vest on the applicable vesting date, unless such RSUs terminate prior to the given vesting date pursuant to Section 3.2.  The Recipient hereby agrees that except as required by law, he will not disclose to any Person other than the Recipient’s spouse and/or tax or financial advisor (if any) the grant of the RSUs 

or any of the terms or provisions hereof without the prior approval of the Administrator, and the Recipient agrees that, in the discretion of the Administrator, the RSUs shall be forfeited if the Recipient violates the non-disclosure provisions of this Section 4.1.  In connection with the grant of the RSUs, the Recipient shall cause his spouse, if any, to execute the consent attached hereto as Exhibit A as soon as practicable following the Grant Date.  

4.2Conditions to Issuance of Stock Certificates.  

(a)The Administrator may, in good faith in the reasonable exercise of its discretion, take whatever additional actions it deems appropriate to effect compliance by the Company and the Recipient of the Securities Act, the Exchange Act and any other federal or state securities laws or regulations, including, without limitation, placing legends on share certificates pursuant to Section 4.2(b) or otherwise.  A certificate of shares will be delivered to the Recipient at the Company’s principal place of business following the issuance of Shares under Section 4.1 or the Company may, in the Administrator’s discretion, retain physical possession of the certificate until such time as the Administrator deems appropriate.  In lieu of the delivery of certificates, evidence of ownership in the Shares may be evidenced by the book-entry method.  The Company shall not have any liability to the Recipient for any delay in the delivery of certificates issued in respect of the Shares.  Notwithstanding the above, the Company shall not be required to issue or deliver any certificate or certificates for Shares issued or otherwise evidence ownership in another form (e.g., book entry) prior to fulfillment of all of the following conditions:

(i)The admission of such Shares to listing on any and all stock exchanges on which such class of stock is then listed;

(ii)The completion of any registration or other qualification of such Shares, or the determination of exemption from registration or qualification, under any state or federal law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, which the Administrator shall, in good faith, in the reasonable exercise of discretion, deem necessary or advisable; and 

(iii)The obtaining of any approval or other clearance from any state or federal governmental agency which the Administrator shall, in good faith, in the reasonable exercise of its discretion, determine to be necessary or advisable.

(b)To the extent the Company delivers a certificate of shares pursuant to Section 4.2(a), such certificate will bear the following legend (or one to substantially similar effect):

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR STATE SECURITIES LAWS AND CANNOT BE OFFERED, SOLD, OR TRANSFERRED IN THE ABSENCE OF REGISTRATION OR EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS AND REGULATIONS PROMULGATED THEREUNDER.  THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED BY THE REGISTERED OWNER HEREOF FOR INVESTMENT AND NOT WITH A VIEW TO OR FOR SALE IN CONNECTION WITH ANY DISTRIBUTION THEREOF IN VIOLATION OF THE SECURITIES ACT.  THE SHARES MAY NOT BE SOLD, 

PLEDGED, TRANSFERRED OR ASSIGNED EXCEPT IN A TRANSACTION WHICH IS EXEMPT FROM REGISTRATION UNDER THE PROVISIONS OF THE SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS, OR PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR IN A TRANSACTION OTHERWISE IN COMPLIANCE WITH APPLICABLE FEDERAL AND STATE SECURITIES LAWS.”
“ANY SALE OR OTHER TRANSFER, PLEDGE OR HYPOTHECATION (“TRANSFER”) OF THIS SECURITY IS RESTRICTED BY THE TERMS OF THE MANAGEMENT STOCKHOLDERS AGREEMENT DATED APRIL 6, 2011, AS AMENDED OR AMENDED AND RESTATED AND IN EFFECT, BY AND AMONG THE COMPANY AND THE OTHER PARTIES THERETO AND MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE THEREWITH.”
ARTICLE 5
REPRESENTATIONS AND WARRANTIES OF THE RECIPIENT

The Recipient hereby represents and warrants with respect to the RSUs granted pursuant to this Agreement, as of the date hereof, as follows:
5.1Authorization.  The Recipient has the necessary authority and capacity to enter into and perform his obligations under this Agreement.

5.2Noncontravention.  The execution, delivery and performance of this Agreement by the Recipient and the consummation of the transactions contemplated hereby, do not and will not (a) violate any Requirements of Law applicable to the Recipient, or (b) result in a material breach or default under any of the Contractual Obligations of the Recipient, or under any order, writ, judgment, injunction, decree, determination or award of any Governmental Authority, in each case applicable to the Recipient or the Recipient’s properties.

5.3Binding Effect.  This Agreement has been duly executed and delivered by the Recipient, and this Agreement constitutes the legal, valid and binding obligations of the Recipient, enforceable against the Recipient in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

5.4Governmental Authorization; Third Party Consent.  No approval, consent, compliance, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person in respect of any Requirements of Law, and no lapse of a waiting period under any Requirements of Law, is necessary or required in connection with the execution, delivery or performance by the Recipient (including, without limitation, the acquisition of the RSUs (or the Shares issuable thereunder) or enforcement against the Recipient of this Agreement or the transactions contemplated hereby.

5.5Broker’s, Finder’s or Similar Fees.  There are no brokerage commissions, finder’s fees or similar fees or commissions payable in connection with the transactions contemplated hereby based on any agreement, arrangement or understanding with the Recipient or any action taken by the Recipient.  The Company shall not be liable for any costs or expenses incurred by or on behalf of the Recipient in connection with this Agreement or the transactions contemplated hereby. 

5.6Securities Law Representations.

(a)The Recipient is receiving the RSUs (and will receive the Shares) for investment for his own account and not with a view to, or for resale in connection with, the distribution or other disposition thereof, other than as contemplated hereby.

(b)The Recipient has been given the opportunity to obtain any information or documents which he deems necessary to evaluate the merits and risks related to his investment in the RSUs (and the Shares issuable thereunder) and to verify the information received, and the Recipient’s knowledge and experience in financial and business matters are such that he is capable of evaluating the merits and risks of his receipt of the RSUs (and the Shares issuable thereunder).

(c)The Recipient’s financial condition is such that he can afford to bear the economic risk of holding the RSUs (and the Shares issuable thereunder) for an indefinite period of time and has adequate means for providing for the Recipient’s current needs and contingencies and to suffer a complete loss of his investment in the RSUs (and the Shares issuable thereunder).

(d)The Recipient hereby consents to the placement of a restrictive legend as contemplated herein and by the Stockholders Agreement.

(e)The Recipient is an “accredited investor,” as that term is defined in Regulation D under the Securities Act.

ARTICLE 6
REPRESENTATIONS AND WARRANTIES OF THE COMPANY

The Company hereby represents and warrants to the Recipient, as of the date hereof, as follows:
6.1Organization, Good Standing, Corporate Power and Qualification.  The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted.  The Company is qualified to transact business and is in good standing in each jurisdiction where it is required to be so qualified, except where the failure to be so qualified would not have a material adverse effect.

6.2Authority; Binding Effect.  The Company has the requisite corporate power and authority to enter into and deliver this Agreement, perform its obligations herein, and consummate the transactions contemplated hereby.  This Agreement is a valid, legal and binding obligation of the Company enforceable against it in accordance with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity.  

6.3No Conflicts.  Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will result in any material violation of (a) the charter and by-laws of the Company, and (b) any applicable law, ordinance, rule or regulation or any applicable order of any court or Governmental Authority, which violation, conflict or default would have a material adverse effect on the business, assets, properties, financial condition or results of operations of the Company or on the ability of the Company to perform its obligations hereunder.

6.4The Shares.  The Shares, when issued and delivered in accordance with the terms and for the consideration set forth in this Agreement, will be validly issued, fully paid and nonassessable and free of restrictions on transfer other than (a) restrictions on transfer under applicable state and federal securities laws, (b) the terms and conditions of the Plan and the Stockholders Agreement and (c) liens or encumbrances created by or imposed by the Recipient.

6.5No Broker Fees.  The Company has not employed any investment banker, broker or finder or incurred any actual or potential liability or obligation, whether direct or indirect, for any brokers’ fees or finders’ fees in connection with the transactions contemplated by this Agreement, for which the Recipient will be liable.

ARTICLE 7
TAXATION

7.1Withholdings.  Whenever the RSUs become vested pursuant to Section 3 or are settled in Shares pursuant to Section 4, the Company shall notify the Recipient of the amount of tax, if any, which must be withheld by the Company under all applicable federal, state and local tax laws.  The Recipient agrees to make arrangements with the Company to (a) remit a cash payment of the required amount to the Company or (b) authorize the deduction of such amount from the Recipient’s compensation.  Notwithstanding the prior sentence, with the consent of the Administrator and subject to any applicable legal conditions or restrictions, the Company shall, upon the Recipient’s request, accept surrender of a whole number of Shares issued hereunder (or other Shares held by the Recipient) having a Fair Market Value, determined as of the date the amount of tax to be withheld is to be determined pursuant to the Code or other applicable law (the “Tax Date”), not in excess of the minimum of tax required to be withheld by law (or such other amount as may be necessary to avoid variable award accounting) to cover all or a portion of the applicable withholding taxes (with the remainder paid pursuant to the preceding sentence).  Request for such surrender shall be made in writing in a form acceptable to the Administrator and shall be subject to the following restrictions: (i) the election must be made on or prior to the applicable Tax Date and (ii) once made, the election shall be irrevocable as to the particular Shares for which the election is made.  Any adverse consequences to the Recipient arising in connection with the share withholding procedure set forth in this Section 7.1 shall be the sole responsibility of the Recipient.

ARTICLE 8
RESTRICTIVE COVENANTS

8.1Obligation to Maintain Confidentiality.  The Recipient acknowledges that the confidential or proprietary information and data (including trade secrets) of the Company or any of its Subsidiaries or Affiliates obtained by the Recipient while employed by or in the service of the Company or any of its Subsidiaries or Affiliates (including, without limitation, prior to the Grant Date) (“Confidential Information”) are the property of the Company or such Subsidiaries or Affiliates, including information concerning acquisition opportunities in or reasonably related to the Company’s, or such Subsidiaries’ or Affiliates’ business or industry of which the Recipient becomes aware during the period of the Recipient’s employment or service.  Therefore, the Recipient agrees that he or she will not disclose to any unauthorized person, group or entity or use for the Recipient’s own account any Confidential Information without 

the Company’s written consent, unless and to the extent that the Confidential Information, (a) becomes generally known to and available for use by the public other than as a result of the Recipient’s acts or omissions to act, (b) was known to the Recipient prior to the Recipient’s employment or service with the Company or any of its Subsidiaries and Affiliates, or (c) is required to be disclosed pursuant to any applicable law or court order.  The Recipient shall use reasonable best efforts to deliver to the Company on the date of his or her termination of service, or at any other time the Company may request, all memoranda, notes, plans, records, reports, computer tapes, printouts and software and other documents and data (and copies thereof) relating to the Confidential Information, Work Product (as defined below) or the business of the Company and its Subsidiaries and Affiliates (including, without limitation, all acquisition prospects, lists and contact information) which the Recipient may then possess or have under his or her control, but excluding financial information of the Company relating to the Recipient’s ownership of Shares, which information will nonetheless continue to constitute Confidential Information.

8.2Ownership of Property.  The Recipient acknowledges that all discoveries, concepts, ideas, inventions, innovations, improvements, developments, methods, processes, programs, designs, analyses, drawings, reports, patent applications, copyrightable work and mask work (whether or not including any Confidential Information) and all registrations or applications related thereto, all other proprietary information and all similar or related information (whether or not patentable) that relate to the Company’s or any of its Subsidiaries’ or Affiliates’ actual or anticipated business, research and development, or existing or future products or services and that were or are conceived, developed, contributed to, made, or reduced to practice by the Recipient (either solely or jointly with others) while employed by or in the service of the Company or any of its Subsidiaries or Affiliates (including, without limitation, prior to the date of this Agreement) (including any of the foregoing that constitutes any proprietary information or records) (“Work Product”) belong to the Company or such Subsidiary or Affiliate and the Recipient hereby assigns, and agrees to assign, all of the above Work Product to the Company or to such Subsidiary or Affiliate.  Any copyrightable work prepared in whole or in part by the Recipient in the course of the Recipient’s work for any of the foregoing entities shall be deemed a “work made for hire” under the copyright laws, and the Company or such Subsidiary or Affiliate shall own all rights therein.  To the extent that any such copyrightable work is not a “work made for hire,” the Recipient hereby assigns and agrees to assign to the Company or such Subsidiary or Affiliate all right, title, and interest, including without limitation, copyright in and to such copyrightable work.  The Recipient shall as promptly as practicable under the circumstances disclose such Work Product and copyrightable work to the Company and perform all actions reasonably requested by the Company (whether during or after the Recipient’s employment with or service to the Company and its Subsidiaries and Affiliates) to establish and confirm the Company’s or such Subsidiary’s or Affiliate’s ownership (including, without limitation, assignments, consents, powers of attorney, and other instruments).  Notwithstanding the foregoing, to the extent the Recipient’s principal place of business is California or Illinois, the Recipient understands that this Agreement does not require assignment of any Work Product to the extent such Work Product qualifies for protection under Section 2870 of the California Labor Code or 765 Illinois Compiled Statutes 1060, as applicable, the current text of each which is attached hereto as Exhibit B.

8.3Third Party Information.  The Recipient understands that the Company and its Subsidiaries and Affiliates will receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on the Company’s and its Subsidiaries and Affiliates’ part to maintain the confidentiality of such information and to use it only for certain limited purposes.  During the period of the Recipient’s employment with or service to the Company or its Subsidiaries or Affiliates and thereafter, and without in any way limiting the provisions of Section 8.1 above, the Recipient will hold Third Party Information in the strictest confidence and will not disclose to anyone (other than personnel and consultants of the Company or its Subsidiaries and Affiliates who need to know such information in connection with their work for the Company or its Subsidiaries and Affiliates) or use, except in connection with the Recipient’s work for the Company or its Subsidiaries and Affiliates, Third Party Information unless expressly authorized by the Company in writing or unless and to the extent that the Third Party Information, (a) becomes generally known to and available for use by the public other than as a result of the Recipient’s acts or omissions to act, (b) was known to the Recipient prior to the Recipient’s employment with or service to the Company or any of its Subsidiaries and Affiliates, or (c) is required to be disclosed pursuant to any applicable law or court order.

8.4Use of Information of Prior Employers.  During the Recipient’s employment or service, the Recipient will not improperly use or disclose any confidential information or trade secrets, if any, of any former employers or 

any other person to whom the Recipient has an obligation of confidentiality, and will not bring onto the premises of the Company, its Subsidiaries or Affiliates any unpublished documents or any property belonging to any former employer or any other person to whom the Recipient has an obligation of confidentiality unless consented to in writing by the former employer or person.  The Recipient will use in the performance of the Recipient’s duties only information which is (a) (i) common knowledge in the industry or (ii) is otherwise legally in the public domain, (b) is otherwise provided or developed by the Company, its Subsidiaries or Affiliates or (c) in the case of materials, property or information belonging to any former employer or other person to whom the Recipient has an obligation of confidentiality, approved for such use in writing by such former employer or person.

8.5Noncompetition and Nonsolicitation.  The Recipient acknowledges that, in the course of the Recipient’s employment, the Recipient will become familiar with the Company’s and its Subsidiaries’ and Affiliates’ trade secrets and with other confidential information concerning the Company and its Subsidiaries and Affiliates and that the Recipient’s services will be of special, unique and extraordinary value to the Company and its Subsidiaries and Affiliates.  Therefore, the Recipient agrees that: 

(a)Noncompetition.  While employed by the Company or any of its Subsidiaries or Affiliates, and for a period beginning on the date of termination of the Recipient’s employment for any reason and ending on the first anniversary of such date of termination (the “Noncompete Period”), the Recipient shall not, anywhere in the world where the Company or its Subsidiaries or Affiliates conduct or actively propose to conduct business during the Recipient’s employment, directly or indirectly own, manage, control, participate in, consult with, be employed by or in any manner engage in any business competing with the businesses of the Company or its Subsidiaries or Affiliates prior to the Recipient’s termination of service with the Company and its Subsidiaries and Affiliates; provided, however, that the Recipient may own up to 2% of any class of an issuer’s publicly traded securities. Nothing in this Section 8.5(a) confers upon the Recipient any right to receive severance or obligates the Company to pay any severance to the Recipient in connection with his or her termination of service for any reason.

(b)Nonsolicitation.  During the Noncompete Period, the Recipient shall not directly or indirectly through another entity (i) induce or attempt to induce any employee of the Company or its Subsidiaries or Affiliates to leave the employ of the Company or any of its Subsidiaries or Affiliates, or in any way interfere with the relationship between the Company or its Subsidiaries or Affiliates and any employee thereof, and (ii) hire any person who was an employee of the Company or any of its Subsidiaries or Affiliates within 180 days prior to the time such employee was hired by the Recipient, (iii) induce or attempt to induce any customer, supplier, licensee or other business relation of the Company or its Subsidiaries or Affiliates to cease doing business with the Company or its Subsidiaries or Affiliates or in any way interfere with the relationship between any such customer, supplier, licensee or business relation and the Company or its Subsidiaries or Affiliates or (iv) directly or indirectly acquire or attempt to acquire an interest in any business relating to the business of the Company or its Subsidiaries or Affiliates and with which the Company, its Subsidiaries or Affiliates has entered into substantive negotiations or has requested and received confidential information relating to the acquisition of such business by the Company, its Subsidiaries or Affiliates in the two-year period immediately preceding the Recipient’s termination of service with the Company or any of its Subsidiaries or Affiliates.

Notwithstanding anything to the contrary herein, in the event the Recipient’s principal place of business as of the date of his or her termination of service is California, the covenants set forth in Sections 8.5(a) and 8.5(b)(ii) through 8.5(b)(iv) shall not apply.
(c)Enforcement.  If, at the time of enforcement of Section 8.5(a) or (b), a court holds that the restrictions stated herein are unreasonable under circumstances then existing, the parties hereto agree that the maximum duration, scope or geographical area reasonable under such circumstances shall be substituted for the stated period, scope or area and that the court shall be allowed to revise the restrictions contained herein to cover the maximum duration, scope and area permitted by law.  The Recipient agrees that because his or her services are unique and the Recipient has access to confidential information, money damages would be an inadequate remedy for any breach of Article VIII.  The Recipient agrees that the Company, its Subsidiaries and Affiliates, in the event of a breach or threatened breach of this Article VIII, may seek injunctive or other equitable relief in addition to any other remedy available to 

them in a court of competent jurisdiction without posting bond or other security.

(d)Non-disparagement.  The Recipient agrees that at no time during his employment by the Company or any of its Subsidiaries or Affiliates or thereafter, shall he make, or cause or assist any other person to make, any statement or other communication to any third party which impugns or attacks, or is otherwise critical of, in any material respect, the reputation, business or character of the Company or any of its Subsidiaries or Affiliates or any of their respective directors, officers or employees; provided that the Recipient shall not be required to make any untruthful statement or to violate any law; and provided, further, that the Recipient may make any truthful statement or communication to any third party which clarifies or corrects any statement or other communication by or on behalf of the Company or any of its Subsidiaries or Affiliates or any of their respective directors, officers or employees which impugns or attacks, or is otherwise critical of, in any material respect, the reputation, business or character of the Recipient.

(e)Acknowledgments.  The Recipient acknowledges that the provisions of this Article VIII are (i) in addition to, and not in limitation of, any obligation of the Recipient’s under the terms of any employment agreement with the Company or any of its Subsidiaries or Affiliates, (ii) in consideration of (A) employment with the Company or any of its Subsidiaries or Affiliates, (B) the issuance of the RSUs by the Company and (C) additional good and valuable consideration as set forth in this Agreement.  In addition, the Recipient agrees and acknowledges that the restrictions contained in Article VIII do not preclude the Recipient from earning a livelihood, nor do they unreasonably impose limitations on the Recipient’s ability to earn a living.  In addition, the Recipient acknowledges that (x) the business of the Company and its Subsidiaries and Affiliates will be international in scope and without geographical limitation, (y) notwithstanding the state of incorporation or principal office of the Company or its Subsidiaries or Affiliates, or any of their respective executives or employees (including the Recipient), it is expected that the Company and its Subsidiaries and Affiliates will have business activities and have valuable business relationships within its industry throughout the world, and (z) as part of the Recipient’s responsibilities, the Recipient will be traveling and conducting business throughout the world in furtherance of the Company’s and/or its Subsidiaries’ and Affiliates’ business and their respective relationships.  The Recipient agrees and acknowledges that the potential harm to the Company or its Subsidiaries or Affiliates of the non-enforcement of this Article VIII outweighs any potential harm to the Recipient of its enforcement by injunction or otherwise.  The Recipient acknowledges that he or she has carefully read this Agreement and has given careful consideration to the restraints imposed upon the Recipient by this Agreement, and is in full accord as to their necessity for the reasonable and proper protection of confidential and proprietary information of the Company, and its Subsidiaries and Affiliates now existing or to be developed in the future.  The Recipient expressly acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable with respect to subject matter, time period and geographical area.

ARTICLE 9
MISCELLANEOUS

9.1The Plan and Stockholders Agreement.  The RSUs issued pursuant to this Agreement shall also be subject to the terms and conditions of the Plan.  Any Shares issued pursuant to this Agreement shall also be subject to the terms and conditions of the Plan and the Stockholders Agreement.  Prior to the issuance of any Shares hereunder, the Recipient shall execute a joinder or other appropriate document (as determined by the Company) to become a party to the Stockholders Agreement. In the event of a conflict between the terms of this Agreement and the Plan or the Stockholders Agreement, the terms of the Plan or the Stockholders Agreement shall control.

9.2Rights as Stockholder.  Neither the Recipient nor any person claiming under or through the Recipient will have any of the rights or privileges of a stockholder of the Company in respect of any Shares that may become deliverable hereunder unless and until such Shares have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered in certificate or book entry form to the Recipient.  

9.3Amendment and Waiver.  This Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Administrator or the Board; provided that, except as provided by Section 9.1 of the Plan, neither the amendment, modification, suspension nor termination of this Agreement shall, without the consent of the Recipient, materially impair any rights or obligations under the RSUs.

9.4Counterparts.  This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

9.5Headings.  The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

9.6Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the principles of conflicts of law principles of any jurisdiction.

9.7Severability.  If any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions hereof shall not be in any way impaired.

9.8Entire Agreement.  This Agreement, together with the Stockholders Agreement and the Plan, is intended by the parties hereto as a final expression of their agreement and is intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein.  There are no restrictions, promises, warranties or undertakings, other than those set forth herein or therein.  This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter.

9.9Further Assurances.  Each of the parties shall execute such documents and perform such further acts (including, without limitation, obtaining any consents, exemptions, authorizations, or other actions by, or giving any notices to, or making any filings with, any Governmental Authority or any other Person) as may be reasonably required or desirable to carry out or to perform the provisions of this Agreement.

9.10Recipient Representation; Not a Contract of Service.  The Recipient hereby represents that the Recipient’s execution of this Agreement and participation in the Plan is voluntary and that the Recipient has in no way been induced to enter into this Agreement in exchange for or as a requirement of the expectation of service with the Company or any of its Subsidiaries.  Nothing in this Agreement or in the Plan shall confer upon the Recipient any right to continue as a Service Provider or shall interfere with or restrict in any way the rights of the Company or its Subsidiaries, which are hereby expressly reserved, to discharge the Recipient at any time for any reason whatsoever, with or without cause except pursuant to an employment or consulting agreement executed by and between the Company and the Recipient and approved by the Board.    

9.11Conformity to Securities Laws.  The Recipient acknowledges that the Plan and this Agreement is intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated thereunder by the Securities and Exchange Commission, including without limitation Rule 16b-3.  Notwithstanding anything herein to the contrary, the Plan, the Stockholders Agreement and this Agreement shall be administered, and the RSUs are granted, only in such a manner as to conform to such laws, rules and regulations.  To the extent permitted by applicable law, the 

Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

9.12Data Privacy Consent.  As a condition of the RSU grant, the Recipient explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this paragraph by and among, as applicable, the Company and its Subsidiaries and Affiliates for the exclusive purpose of implementing, administering and managing the Recipient’s participation in the Plan.  The Recipient understands that the Company and its Subsidiaries and Affiliates hold certain personal information about the Recipient, including the Recipient’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all restricted stock units or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in the Recipient’s favor, for the purpose of implementing, managing and administering the Plan (the “Data”).  The Recipient further understands that the Company and its Subsidiaries and Affiliates may transfer the Data amongst themselves as necessary for the purpose of implementation, administration and management of the Recipient’s participation in the Plan, and that the Company and its Subsidiaries and Affiliates may each further transfer the Data to any third parties assisting the Company in the implementation, administration and management of the Plan.  The Recipient understands that these recipients may be located in the Recipient’s country, or elsewhere, and that the recipient’s country may have different data privacy laws and protections than the Recipient’s country.  The Recipient understands that he may request a list with the names and addresses of any potential recipients of the Data by contacting his local human resources representative.  The Recipient authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Recipient’s participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom the Recipient may elect to deposit any Shares.  The Recipient understands that the Data will be held only as long as is necessary or appropriate to implement, administer, and manage the Recipient’s participation in the Plan.  The Recipient understands that he may, at any time, view the Data, request additional information about the storage and processing of the Data, require any necessary amendments to the Data, or refuse or withdraw the consents herein in writing, in any case without cost, by contacting his local human resources representative.  The Recipient understands that refusal or withdrawal of consent may affect the Recipient’s ability to participate in the Plan.  For more information on the consequences of refusal to consent or withdrawal of consent, the Recipient understands that he may contact his local human resources representative.

9.13Section 409A.  It is the intention of the parties that the provisions of this Agreement comply with the requirements of the short-term deferral exception of Section 409A of the Code and Treasury Regulations Section 1.409A-1(b)(4).  Accordingly, to the extent there is any ambiguity as to whether one or more provisions of this Agreement would otherwise contravene the requirements or limitations of Section 409A of the Code applicable to such short-term deferral exception, then those provisions shall be interpreted and applied in a manner that does not result in a violation of the requirements or limitations of Section 409A of the Code and the Treasury Regulations thereunder that apply to such exception. Notwithstanding anything to the contrary in the Plan or this Agreement, in no event shall any liability for failure to comply with the requirements of Section 409A of the Code be transferred from the Recipient or any other individual to the Company or any of its Affiliates or any of their respective employees or agents pursuant to the Plan, this Agreement or otherwise. 

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement or caused this Agreement to be executed and delivered by their authorized representatives as of the date first above written.

SYNIVERSE CORPORATION

By:                        
      Name:  James A. Attwood, Jr. 
      Title:    Chairman 

RECIPIENT

By:                        
Name:  

 
 

EXHIBIT A

CONSENT
As the undersigned spouse of the Recipient, I hereby acknowledges that I have read that certain Restricted Stock Unit Award Agreement by and between my spouse and the Company and dated as of ________, 2016 (the “Restricted Stock Unit Agreement”), the Plan and the Stockholders Agreement (collectively, the “Agreements”), and that I understand their contents.  I am aware that the Agreements provide for the repurchase of the Shares issuable thereunder under certain circumstances and impose other restrictions on the transfer of such Shares.  I agree that my spouse's interest in such Shares are subject to the Agreements and any interest I may have in such Shares shall be irrevocably bound by the Agreements and further that my community property interest, if any, shall be similarly bound by the Agreements.
I am aware that the legal, financial and other matters contained in the Agreements are complex and I am free to seek advice with respect thereto from independent counsel.  I have either sought such advice or determined after carefully reviewing the Agreements that I will waive such right.
Capitalized terms used in this consent and not defined herein shall have the meanings given to such terms in the Restricted Stock Unit Agreement.  

                            
Spouse
    
                            
Witness

EXHIBIT B

Section 2870 of the California Labor Code
As of the Grant Date, Section 2870 of the California Labor Code is as follows:  
(a)    Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facili-ties, or trade secret information except for those inventions that either:
(1)    Relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or
(2)    Result from any work performed by the employee for the employer.
(b)    To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable.

765 Illinois Compiled Statutes 1060
As of the date of this Agreement, 765 Illinois Compiled Statutes 1060 is as follows:  
(1)     A provision in an employment agreement which provides that an employee shall assign or offer to assign any of the employee's rights in an invention to the employer does not apply to an invention for which no equipment, supplies, facilities, or trade secret information of the employer was used and which was developed entirely on the employee's own time, unless (a) the invention relates (i) to the business of the employer, or (ii) to the employer's actual or demonstrably anticipated research or development, or (b) the invention results from any work performed by the employee for the employer. Any provision which purports to apply to such an invention is to that extent against the public policy of this State and is to that extent void and unenforceable. The employee shall bear the burden of proof in establishing that his invention qualifies under this subsection. 
(2)     An employer shall not require a provision made void and unenforceable by subsection (1) of this Section as a condition of employment or continuing employment. This Act shall not preempt existing common law applicable to any shop rights of employers with respect to employees who have not signed an employment agreement. 
(3)     If an employment agreement entered into after January 1, 1984, contains a provision requiring the employee to assign any of the employee's rights in any invention to the employer, the employer must also, at the time the agreement is made, provide a written notification to the employee that the agreement does not apply to an invention for which no equipment, supplies, facility, or trade secret information of the employer was used and which was developed entirely on the employee's own time, unless (a) the invention relates (i) to the business of the employer, or (ii) to the employer's actual or demonstrably anticipated research or development, or (b) the invention results from any work performed by the employee for the employer.Exhibit

Exhibit 10.1
UNITED INSURANCE HOLDINGS CORP.
A Delaware Corporation

Employment Agreement

THIS EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of the 10th day of August, 2016 (“Effective Date”) by and between UNITED INSURANCE HOLDINGS CORP., a Delaware Corporation, and any of its parent or subsidiary companies (collectively, the “Company”), and Scott St. John, (the “Executive”).

Recitals

		
	1.
	The Executive will be the Chief Claims Officer (“CCO”) of the Company and has the requisite experience to serve as such.

		
	2.
	The Executive, in his duties, will come to possess intimate knowledge of the business and affairs of the Company and its Subsidiaries, their policies, methods and personnel.

		
	3.
	The Board of Directors (the “Board”) of the Company recognizes that the Executive’s contribution, as CCO of the Company, to the growth and success of the Company and its Subsidiaries will be substantial and desires to assure the Company of the Executive’s employment in an executive capacity and to compensate him therefor.

		
	4.
	The Board has determined that this Agreement will reinforce and encourage the Executive’s continued attention and dedication to the Company and its Subsidiaries.

		
	5.
	The Executive is willing to make his services available to the Company and its Subsidiaries on the terms and conditions hereinafter set forth.

Agreement

NOW, THEREFORE, in consideration of the premises and mutual covenants set forth herein, the parties hereby agree as follows:

		
	1.
	Term and Duties

1.Term.  The Company shall employ the Executive and the Executive shall continue to serve the Company and its Subsidiaries on conditions set forth herein for a term that begins on the Effective Date and continues through the first anniversary of the Effective Date (“Initial Term”).  This Agreement shall automatically renew for additional (1) one year terms (“Renewal Term”) at the expiration of the Initial Term or any subsequent Renewal Term unless either of the parties provide at least thirty (30) days’ written notice of their intent  to non-renew the Agreement, or unless this Agreement is otherwise terminated in accordance with Section 4.1, 4.2, or 4.3 hereof.  

2.Duties of Executive.    During Executive’s employment, the Executive shall serve as CCO and shall perform the duties of an executive commensurate with such position, shall diligently perform all services as may be reasonably designated by the CEO and the Board; and shall exercise such power and authority as is necessary and customary to the performance of such duties and services.  The Executive shall devote his/her services on a fulltime basis to the business and affairs of the Company and the Subsidiaries.  However, to the extent it does not interfere or conflict with the proper performance of the Executive’s duties hereunder, the Executive may be involved with non-profit organizations or other outside business endeavors, with prior written permission from the CEO.

		
	2.
	Compensation.

1.Base Salary.  The Executive shall receive a Base Salary at the annual rate of $250,000.00.  The Base Salary shall be payable in substantially equal installments consistent with the Company’s normal payroll schedule, subject to applicable withholding and other taxes.  Base Salary may be increased during the Employment Term but may not be decreased, and the Company shall consider, on an annual basis, the nature, extent and advisability, if any, of an increase in the Executive’s Base Salary.

2.Additional Cash Compensation.  During Executive’s employment, Executive shall be eligible to receive annual bonuses which, in the discretion of the Board, are payable to executive management.  Annual bonuses will be based on the Board’s evaluation of achievement against goals established for the senior executive officer group including Executive. 
3.Restricted Stock Agreement. After ninety days (90) from the Effective Date of this Agreement, the Company and Employee shall enter into a Restricted Stock Agreement ("RSA") to issues 1500 shares of restricted common stock to Employee.  The restricted common stock shall vest at the conclusion of the one year anniversary of the RSA effective date.

4.Equity Incentive Compensation.  In addition to any compensation payable under Section 2.1, 2.2 and 2.3, the Executive shall also be eligible to participate in any future equity incentive compensation plans or directed share programs designed for members of the Company’s senior management team approved by the CEO and Board of Directors so long as this agreement remains in effect.

		
	3.
	Other Benefits.

1.Expense Reimbursement.  During Executive’s employment, the Company, upon the submission of supporting documentation by the Executive, and in accordance with Company policies for its executives, shall reimburse the Executive for all expenses actually paid or incurred by the Executive in the course of and pursuant to the business of the Company and the Subsidiaries, including expenses for travel and entertainment, for which the Executive shall follow expense guidelines as set by the CEO or Board from time to time.  Expenses incurred by the Executive in connection with maintaining professional licenses and relevant technical job knowledge including, but not limited to, continuing education, professional fees, dues and subscriptions, shall be fully reimbursed without limitation.

2.Other Benefits.  During Executive’s employment, Executive will be eligible to participate, on terms which are generally available to the other senior executives of the Company and subject to the eligibility requirements of the applicable Company plans as in effect from time to time, in the Company’s deferred compensation, medical, dental, vacation, life insurance and disability programs, and other benefits generally available to the Company’s senior executives from time to time. 

3.Working Facilities.  During Executive’s employment, the Company shall furnish the Executive with an office, and such other facilities and services suitable to his position and adequate for the performance of his duties hereunder.

4.Vacation.  During Executive’s employment, Executive shall be entitled to reasonable vacations during each year of the Term, the time and duration thereof to be determined by mutual agreement between Executive and the Company.  Reasonable vacations shall be no less than four (4) weeks or twenty (20) business days, excluding holidays, each calendar year. 

		
	4.
	Termination.

1.Termination for Cause.  Notwithstanding anything contained in this Agreement to the contrary, this Agreement may be terminated at any time by the Company for Cause.  As used in this Agreement “Cause” shall only mean (i) any action or omission of the Executive which constitutes a material breach of this Agreement, (ii) willful failure to perform the duties assigned to the Executive by the CEO or the Board, from time to time; (iii) fraud, breach of fiduciary duty, embezzlement or misappropriation as against the Company, or (iv) the conviction (from which no appeal can be taken) of Executive for any criminal act which is a felony.  For purposes of this Paragraph 4.1, an act or failure to act shall be considered “willful” only if done or omitted to be done without a good faith reasonable belief that such act or failure to act was in the best interests of the Company.  Any termination for Cause pursuant to this Paragraph 4.1 shall be made in writing to Executive, which notice shall set forth in detail all acts or omissions upon which the Company is relying for such termination. Upon any termination pursuant to this Paragraph 4.1, the Company shall pay to the Executive any unpaid Base Salary accrued through the Effective Date of termination specified in such notice. In addition, the Company shall pay any benefits, if any, owed to Executive under any plan provided for Executive under Paragraph 3 hereof in accordance with the terms of such plan as in effect on the date of termination of employment under this Paragraph 4.1.  Except as provided above, the Company shall have no further liability hereunder (other than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however to the provisions of Paragraph 3.1 hereof).

2.Termination Due to Death or Disability.  In the event of the Executive’s death, Executive’s employment shall automatically cease and terminate as of the date of death. If Executive becomes Disabled, the Company may terminate Executive’s employment upon thirty (30) days’ written notice to Executive. For purposes of this Agreement, the terms 

“Disabled” or “Disability” means Executive’s inability, because of physical or mental illness or injury, substantially to perform his duties hereunder as a result of physical or mental incapacity for a continuous period of at least six (6) months, to be determined no earlier than at the end of the six (6) month period. In the event of any dispute as to the Executive’s incapacitation, the Board shall select a physician and Executive shall select a physician.  If the two physicians are unable to agree on whether Executive is Disabled for purposes of this Agreement, those two physicians shall select a third physician, whose determination shall be final and binding upon both the Executive and the Company. In the event of the termination of employment due to Executive’s death or Disability, Executive or his estate or legal representatives shall be entitled to receive:
i.payment for all accrued but unpaid Base Salary as of the date of  termination of employment;

ii.reimbursement for expenses incurred by the Executive pursuant to. Paragraph 3.1 hereof up to and including the date of termination of employment;

iii.any earned benefits to which the Executive may be entitled as of the date of termination of employment pursuant to the terms of any compensation or benefit plans to the extent permitted by such plans (with the payments described in subsections (i) through (iii) above collectively called the “Accrued Payments”);

iv.any annual incentive bonuses earned but not yet paid for any completed full fiscal year immediately preceding the employment termination date;

v.if employment termination occurs prior to the end of any fiscal year, a pro rata annual incentive bonus for such fiscal year in which employment termination occurs (based on actual business days in such fiscal year prior to such employment termination, divided by the total annual business days) determined and paid based on actual performance achieved for that fiscal year against the performance goals for that fiscal year;

vi.in the case of death of Executive, the Company shall continue in force all medical and dental benefits applicable to Executive’s family for six (6) months.

vii.Any payments under this paragraph shall be made on or before March 15th of the year following Executive’s death or Disability (with the exception of Base Salary and reimbursement of expenses, which shall be paid no later than the pay period immediately following termination of employment).

3.Termination Without Cause.  Either party may terminate Executive’s employment hereunder without Cause at any time.  

		
	(i.)
	In the event of the termination of Executive’s employment under this Paragraph 4.3 without Cause by the Company, then Executive shall be entitled to:

a. payment of Accrued Payments in full within the next normal payroll period following termination; 
b. payment of severance in the amount of Base Salary beginning the day after termination through the later of either: (i) the last day of the Initial Term or the last day of the Renewal Term (if applicable); OR (ii) 180 days after termination(the “Severance Period”).    Severance is payable in normal payroll periods through the term of the Severance Period.
c.  any annual incentive bonuses earned but not yet paid for any completed full fiscal year immediately preceding the employment termination date, to be paid in full within the next normal payroll period following termination;
d.  if employment termination occurs prior to the end of any fiscal year, the pro rata annual incentive bonus for such fiscal year in which employment termination occurs for which Executive would have been entitled if employed at the conclusion of the fiscal year determined and paid based on actual performance achieved for the portion of such fiscal year when Executive was employed by the Company. Any such bonus under this section is to be paid in full within ninety days following completion of the fiscal year;  
e.  the Company shall arrange for the Executive to continue to participate (through COBRA or otherwise), on substantially the same terms and conditions as in effect for the Executive (including any required contribution) immediately prior to such termination, in the medical, dental, disability and life insurance programs provided to the Executive hereof until the earlier of (a) a one-hundred twenty  (120) day period 

from the termination date; or (b) such time as the Executive is eligible to be covered by comparable benefit(s) of a subsequent employer (determined on a benefit-by-benefit and coverage-by-coverage basis).  The foregoing is referred to as “Benefits Continuation”. The Executive agrees to notify the Company promptly if and when he begins employment with another employer and if and when he becomes eligible to participate in any benefit or other welfare plans, programs or arrangements of another employer.
		
	(ii.)
	In the event of the termination of Executive’s employment under this Paragraph 4.3 without Cause by the Executive, then Executive shall be entitled to  only (a) and (b) above.  The Company shall have no further liability hereunder (other than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however to the provisions of Paragraph 3.1 hereof).

4.Specified Employee.  Notwithstanding anything to the contrary in this Agreement, if at the time of Executive’s termination of employment Executive is a “specified employee,” as defined below, any and all amounts payable to Executive on account of such separation from service that would be nonqualified deferred compensation and would (but for this provision) be payable within six (6) months following the date of termination, shall instead be paid in a single sum on the next regular payday following the expiration of such six (6) month period or, if earlier, the date of Executive’s death; except (A) to the extent of amounts that do not constitute a deferral of compensation within the meaning of Treasury regulation Section 1.409A-1(b), as determined by the Company in its discretion; (B) benefits which qualify as excepted welfare benefits pursuant to Treasury regulation Section 1.409A-1(a)(5); or (C) other amounts or benefits that are not subject to the requirements of Section 409A, shall not be subject to any such acceleration.  

5.Separation from Service.  For purposes of this Agreement, all references to “Termination Date,” “termination of employment” and correlative phrases shall be construed to require a “separation from service” (as defined in Section 1.409A-1 (h) of the Treasury regulations after giving effect to the presumptions contained therein), and the term “specified employee” means an individual determined by the Company to be a specified employee under Treasury regulation Section 1.409A-1(i).  

6.409A Compliance.  Payments under this Agreement are intended either to be exempt from the rules of Section 409A or to satisfy those rules, and the Agreement shall be construed accordingly.

7.Release of Claims as Condition.  The Company’s obligation to pay to the Executive the benefits described in paragraphs  4.2(v), 4.3(i)b, 4.3(i)c, 4.3(i)d, 4.3(i)e and 4.3(ii) of this Agreement shall be conditioned upon the Executive, or his legal representative as appropriate, having delivered to the Company an executed full and unconditional release (that is not subject to revocation) of claims against the Company, its parent entities, affiliates, employee benefit plans and fiduciaries, officers, employees, directors, agents and representatives satisfactory in form and content to the Company’s counsel.

8.No Mitigation.  In no event shall Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Executive under any of the provisions of this Agreement, nor shall the amount of any payment hereunder be reduced by any compensation earned by Executive as a result of subsequent employment unless otherwise provided herein.

   5.    Restrictive Covenants.

1.    Confidentiality/Non-Disclosure.  “Confidential Information” shall mean any intellectual property, information, or trade secrets (whether or not specifically labeled or identified as “confidential” or “private”), in any form or medium, that is disclosed to, or developed or learned by, the Executive, and that relates to the business plan, underwriting, products, services, research, or development of or by the Company or its Subsidiaries, suppliers, distributors, customers, investors, partners, and/or other business associates, and that has not become publicly known.  Confidential Information includes, but is not limited to, the following:
		
	i.
	Internal business information (including but not limited to information relating to strategy, staffing, financial data, training, marketing, promotional and sales plans and practices, costs, bidding activities and strategies, rate and pricing structures, and accounting and business methods);

		
	ii.
	Identities of, negotiations with, individual requirements of, specific contractual arrangements with, and information about, the Company’s or its Subsidiaries’ suppliers, distributors, customers, investors, partners and/or other business associates, their contact information, and their confidential information;

		
	iii.
	Compilations of data and analyses, underwriting process and parameters, material processes, technical data, specific program information, trade or industrial practices, computer programs, formulae, systems, research, records, reports, manuals, documentation, customer and supplier lists, data and databases relating thereto, and technology and methodology regarding specific projects; and

		
	iv.
	Intellectual Property not generally available to the public, or published by the Company or its Subsidiaries.

Confidential Information shall not include information that:  (i) is or becomes public information without breach of this Agreement by Executive; (ii) was in Executive’s possession (in writing or other recorded form) prior to his employment by the Company with no obligation to maintain confidentiality, as evidenced by written or electronic records; (iii) was received from a third party not under any obligation of confidentiality to the Company; or (iv) is required to be disclosed by Executive by law or a final order of a court or other governmental agency or authority of competent jurisdiction (collectively, “Order”); provided, however, reasonable notice prior to any such disclosure shall be given to the Company to allow sufficient time for the Company to obtain injunctive relief, a protective order or similar remedy.

“Intellectual Property," or “IP,” shall mean (1) inventions or devices, whether patentable or not; (2) original works of authorship produced by or on behalf of the Company or its Subsidiaries; (3) trade secrets; (4) know-how; and (5) any other intangible property protectable under federal, state or foreign law.  Other examples of Intellectual Property include, but are not limited to, patent applications, patents, copyrighted works, technical data, computer software, knowledge of suppliers or business partnerships, documentation, processes, and methods and results of research.  
The Executive acknowledges and agrees with the representations of the Company that Confidential Information and IP is proprietary and valuable to the Company, and that any disclosure or unauthorized use thereof may cause irreparable harm and loss to the Company.  
The Executive acknowledges and agrees that (1) the nature and periods of restrictions imposed by the covenants contained in this Agreement are fair, reasonable and necessary to protect and preserve for the Company and its Subsidiaries their viability and future revenues; (b) the Company or its Subsidiaries would sustain great and irreparable loss and damage if the Executive were to breach any of such covenants set forth herein; (c) the Company and its Subsidiaries intend to conduct business actively in the entire territory that is the subject of this Agreement (as defined below) and beyond; and (d) the covenants herein set forth are made as an inducement to and have been relied upon by the Company in entering into this Agreement.
The Executive acknowledges and agrees this Agreement is binding on the Executive’s heirs, executors, successors, administrators, representatives and agents.
The Executive agrees to receive and to treat Confidential Information and the knowledge of IP on a confidential and restricted basis and to undertake the following additional obligation with respect thereto:

1.  To use the Confidential Information for the singular purpose of benefiting the Company and its Subsidiaries, and specifically not use the Company’s and its Subsidiaries’ customer or prospective customer data to conduct marketing, or otherwise undertake personal contacts, to solicit, divert or appropriate customers or prospective customers of the Company or its Subsidiaries, whether for the benefit of the Executive or any Person; 

2.  Not to disclose Confidential Information, except to the extent the Executive is required to disclose or use such Confidential Information in the performance of the Executive’s assigned duties for the Company or its Subsidiaries, to any Person without the prior express written consent of the Board of the Company, or their successors as an action permitted under the operating agreement of the Company; 

3.  To tender all Confidential Information to the Company, and destroy any of the Executive’s additional notes or records made from such Confidential Information, immediately upon request by the Company or upon termination of this Agreement; 

4.  To promptly disclose and assign any right, title and interest to the Company all IP authored, made, conceived or actually reduced to practice, alone or jointly with others, (a) while performing duties for the Company or its Subsidiaries, or (b) during Executive’s employment under this Agreement (if such IP is related to the Company’s area of business), or (c) which results or is suggested by any work done for or at the request of the Company or 

its Subsidiaries, or (d) which was aided by the use of trade secret information, whether or not during working hours and regardless of location;

5.  To use best efforts to safeguard the Confidential Information and protect it against disclosure, misuse, espionage, loss, misappropriation and theft;

6.  Immediately notify the Board of any breach of this Agreement; and

7. Assist the Company or its Subsidiaries, both during and after the termination of this Agreement, in obtaining and enforcing any legal rights in IP of the Company or its Subsidiaries, or assigned or to be assigned by the Executive to the Company or its Subsidiaries.
		
	8.
	To refrain from purchasing or selling securities in reliance upon such Confidential Information or any non-public information or from communicating such information to any other person or entity under circumstances in which it is reasonably foreseeable that such person or entity is likely to purchase or sell such securities in reliance upon such information. The Executive agrees that it shall comply with all such applicable securities laws. Without limitation, the Executive agrees that it shall not, either directly or indirectly: (a) conduct any transactions involving securities of the Company in reliance upon any of the Confidential Information, or (b) communicate any of the Confidential Information to any other person or entity under circumstances in which it is reasonably foreseeable that such person or entity is likely to purchase or sell such securities in reliance upon any of the Confidential or non-public Information.

5.2    Non-Compete. The Company and the Executive acknowledge that (i) the Company has a special interest in and derives significant benefit from the unique skills and experience of the Executive; (ii) the Executive will use and have access to proprietary and valuable Confidential Information (as defined in Section 5.1 hereof) during the course of the Executive’s employment; and (iii) the agreements and covenants contained herein are essential to protect the business and goodwill of the Company or any of its subsidiaries, affiliates or licensees. Accordingly, and in further consideration of the Executive’s employment with the Company and the compensation paid to the Executive and the benefits provided in connection with such employment, the Executive covenants and agrees that throughout the term of his/her employment, and for a period of six (6) months after termination or cessation of employment for any reason, the Executive shall not, directly or indirectly, either as an employee, employer, consultant, agent, principal, partner, stockholder, corporate officer, director, or in any other individual or representative capacity, engage or participate in any business that is in competition in any manner whatsoever with the business of the Company, whether for renumeration or otherwise, in any State where the Company is doing business.
5.3    Non-Solicitation.  The Executive covenants and agrees with the Company that the Executive will not, directly or indirectly, for any Person, through the period ending on the second (2nd) annual anniversary of the last day of the Executive’s employment with the Company attempt to employ, divert away an employee, or enter into any contractual or employment arrangement with any employee or former employee, of the Company or its Subsidiaries, unless such employee or former employee has not been employed by the Company or its Subsidiaries for a period in excess of one (1) year.  This Section shall not apply to former employees that were terminated by the Company.
5.4    Consent to Injunction.  The Executive acknowledges that any breach of a covenant contained in Section 5 of this Agreement will result in irreparable injury to the Company or its Subsidiaries and that the Company’s or its Subsidiaries’ remedy at law for such a breach may be inadequate and will be extremely difficult to calculate or determine. Accordingly, the Executive agrees and consents that upon any such breach, the Company or its Subsidiaries shall, in addition to all other remedies available at law and in equity, be entitled to (A) both preliminary and permanent injunctions to prevent or halt any such breach or threatened breach, and (B) recover the cost of such attorney’s fees as the Company or its Subsidiaries may incur to enforce it rights hereunder if the Company is a prevailing party in such litigation.  Further, the Executive agrees that in the event of any breach hereunder, the Company or its Subsidiaries shall have the right to seek restraining orders and/or injunctions
5.5    Severability.  In the event the provisions of this Agreement should ever be deemed to exceed the time or geographic limitations permitted by applicable law, then the provisions will be reformed to the maximum time or geographic limitations permitted by applicable law.  Every provision of this Agreement is intended to be severable, and, if any term or provision is determined to be illegal, invalid or unenforceable for any reason whatsoever, and cannot be reformed, such illegal, invalid or unenforceable provision shall be deemed severed herefrom and shall not affect the validity, legality or enforceability of the remainder of this Agreement.  

		
	6.
	Books and Records. All books, records, accounts and similar repositories of Confidential Information of the Company and its Subsidiaries, whether prepared by the Executive or otherwise coming into the Executive's possession, shall be the exclusive property of the Company and shall be returned immediately to the Company and its Subsidiaries on termination of this Agreement or on the Board's request at any time.

		
	7.
	Consolidation, Merger or Sale of Assets.  Nothing in this Agreement shall preclude the Company from consolidating or merging into or with, or transferring all or substantially all of its assets to, another corporation which assumes this Agreement, and all obligations of the Company hereunder, in writing. Upon such consolidation, merger, or transfer of assets and assumption, the term "the Company" as used herein, shall mean such other corporation and this Agreement shall continue in full force and effect. 

		
	8.
	Indemnification.  The Company agrees that the Executive shall be covered and insured up to the full limits provided by all directors’ and officers’ insurance which the Company then maintains to indemnify its directors and officers (and to indemnify the Company for any obligations which it incurs as a result of its undertaking to indemnify its officers and directors), subject to applicable deductibles and to the terms and conditions of such policies as well as provided under any policy of indemnification then in effect for the Company.

		
	9.
	Assignment.  This Agreement is personal in nature to the Company and the rights and obligations of the Executive under this Agreement shall not be assigned or transferred by the Executive. This Agreement and all of the provisions hereof shall be binding upon, and inure to the benefit of, the parties hereto and their successors (including successors by merger, consolidation, sale or similar transaction, permitted assigns, executors, administrators, personal representatives, heirs and distributees).

		
	10.
	Amendment.  This Agreement may not be amended, supplemented or modified in whole or in part except by an instrument in writing signed by the party or parties against whom enforcement of any such amendment, supplement or modification is sought.

		
	11.
	Survival.  Anything hereof to the contrary notwithstanding, the provisions of Paragraphs 2 through 18 shall survive the expiration or termination of this Agreement, regardless of the reasons therefor.

		
	12.
	Choice of Law. This Agreement will be interpreted, construed and enforced in accordance with the laws of the State of Florida, without giving effect to the application of the principles pertaining to conflicts of laws.

		
	13.
	Effect of Waiver. The failure of any party at any time or times to require performance of any provision of this Agreement will in no manner affect the right to enforce the same. The waiver by any party of any breach of any provision of this Agreement will not be construed to be a waiver by any such party of any succeeding breach of that provision or a waiver by such party of any breach of any other provision, unless specifically stated herein.

		
	14.
	Construction. The parties hereto and their respective legal counsel participated in the preparation of this Agreement; therefore, this Agreement shall be construed neither against nor in favor of any of the parties hereto, but rather in accordance with the fair meaning thereof.

		
	15.
	Enforcement.  Should it become necessary for any party to institute legal action to enforce the terms and conditions of this Agreement, the prevailing party will be awarded reasonable attorneys' fees at all trial and appellate levels, expenses and costs. Any suit, action or proceeding with respect to this Agreement shall be brought in the courts of the State of Florida within the County which the Company maintains its primary offices or in the U.S. District Court of Florida for the district in which the Company maintains its primary offices, whichever is applicable. The parties hereto hereby accept the exclusive jurisdiction of those courts for the purpose of any such suit, action or proceeding.

Notwithstanding the foregoing provisions of this Paragraph, each of the parties agrees that, prior to commencing litigation under this Agreement, the parties agree to submit, for a period of sixty (60) days, to voluntary mediation before a jointly selected neutral third party mediator under the auspices of JAMS, Atlanta, GA Resolutions Center (or any successor location) or a mutually agreed upon certified mediator in Tampa, FL, pursuant to the procedures of JAMS International Mediation rules or the Florida Rules for Certified and Court-Appointed Mediators, to be conducted in the State of Florida, Hillsborough County (however, such mediation or obligation to mediate shall not suspend or otherwise delay any termination or other action of the parties or affect the parties’ other rights).
The parties hereto acknowledge and agree that any party's remedy at law for a breach or threatened breach of any of the provisions of this Agreement would be inadequate and such breach or threatened breach shall be per se deemed as causing 

irreparable harm to such party. Therefore, in the event of such breach or threatened breach, the parties hereto agree that, in addition to any available remedy at law, including but not limited to monetary damages, an aggrieved party, shall be entitled to obtain, and the offending party agrees not to oppose the aggrieved party's request for, equitable relief in the form of specific enforcement, temporary restraining order, temporary or permanent injunction, or any other equitable remedy that may then be available to the aggrieved party.
		
	16.
	Counterparts.  This Agreement may be executed in one or more counterparts, each of which will be deemed an original.

		
	17.
	Notice.  Any notice required or permitted to be delivered hereunder shall be deemed to be delivered when sent by signed, hand-delivery, facsimile with receipt confirmed or when deposited in the United States mail, postage prepaid, registered or certified mail, return receipt requested, or by overnight courier, addressed to the parties at the address first stated herein, or to such other address as either party hereto shall from time to time designate to the other party by notice in writing as provided herein.

		
	18.
	Entire Agreement.  This Agreement contains the entire agreement and understanding between the parties with respect to the subject matter hereof and supersedes any prior or contemporaneous understandings and agreements, written or oral, between and among them respecting such subject matter, including, without limitation, the Term Sheet. 

		
	19.
	Expenses. Reasonable legal fees and expenses up to a maximum total of $1500 incurred by the Executive in reviewing this Agreement will be paid by the Company. All such fees and expenses will be paid by the Company within 30 days after the Company's receipt of the invoices therefor.

IN WITNESS WHEREOF, this Agreement has been duly signed by the parties hereto on the day and year first above written.
UNITED INSURANCE HOLDINGS CORP.
By:    /s/ John L. Forney
Name:    John L. Forney
Title:    President & CEO

EXECUTIVE
By:    /s/ Scott St. John
Name:    Scott St. John 
Title:    Chief Claims Officer

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