Document:

Exhibit 10.1

 

 

AMENDMENT TO LOAN AGREEMENT AND NOTE

 

This
amendment (the “Amendment”), dated as of the date
specified below, is by and between the borrower (the “Borrower”)
and the bank (the “Bank”)
identified below.

 

RECITALS

 

A.  The Borrower and the Bank have executed a Loan
Agreement (the “Agreement”) dated SEPTEMBER 30,
2004 and the Borrower has executed a Note (the “Note”),
dated  SEPTEMBER 30, 2004, either or both which may have been amended
and replaced from time to time, and the Borrower (and if applicable, certain third parties) have executed the
collateral documents which may or may not be identified in the Agreement and
certain other related documents (collectively the “Loan
Documents”), setting forth the terms and conditions upon which the
Borrower may obtain loans from the Bank from time to time in the original
amount of $  5,000,000.00, as may be amended from time to
time.

 

B.  The Borrower has requested that the Bank
permit certain modifications to the Agreement and Note as described below.

 

C.  The
Bank has agreed to such modifications, but only upon the terms and conditions
outlined in this Amendment.

 

TERMS OF AGREEMENT

 

In
consideration of the mutual covenants contained herein, and for other good and
valuable consideration, the Borrower and the Bank agree as follows:

 

o Change in Maturity Date.
If checked here, any references in the Agreement or Note to the maturity date
or date of final payment are hereby deleted and replaced with “                                 ”.

 

o Change in Maximum Loan
Amount. If checked here, all references in the Agreement and in the
Note (whether or not numerically) to the maximum loan amount are hereby deleted and replaced with “$                              ”, which evidences an additional $                                 
available to be advanced subject to the terms and conditions of the Agreement
and Note.

 

o Temporary Increase in
Maximum Loan Amount. If checked here, notwithstanding the maximum
principal amount that may be borrowed from time to time under the Agreement and
Note, the maximum principal amount that may be borrowed thereunder shall
increase from $                                 
to $                                 
effective                                 
through
                             
annually. On                  through
                                 annually,
the maximum principal amount that may be borrowed thereunder shall revert to
$                       
and any loans outstanding in excess of that amount will be immediately due and
payable without further demand by
the Bank.

 

o Change in Multiple Advance
Termination Date. If checked here, all references in the Agreement
and in the Note to the termination date for multiple advances are hereby
deleted and replaced with “                                 ”.

 

o Change in Payment
Schedule. If checked here, effective upon the date of this
Amendment, any payment terms are amended as follows:

 

 

o Change in Late
Payment Fee. If checked here, subject to applicable law, if any
payment is not made on or before its due date, the Bank may collect a delinquency charge of                                 % of the unpaid amount. Collection of the late
payment fee shall not be deemed to be a waiver of the Bank’s right to declare a default hereunder.

 

o Change in Closing Fee.
If checked here and subject to applicable law, the Borrower will pay the Bank a
closing fee of $                                 (apart from any prior closing fee)
contemporaneously with the execution of this Amendment. This fee is in addition
to all other fees, expenses and other amounts due hereunder.

 

o Change in Paid-in-Full
Period. If checked here, all revolving loans under the Agreement and
the Note must be paid in full for a period of at least                                   consecutive days during each fiscal year. Any
previous Paid-in-Full provision is hereby replaced with this provision.

 

Default Interest Rate. Notwithstanding any provision of this Note to the contrary, upon any
default or at any time during the continuation thereof (including failure to
pay upon maturity), the Bank may, at its option and subject to applicable law,
increase the interest rate on this Note to a rate of 5% per annum plus the interest
rate otherwise payable hereunder. Notwithstanding the
foregoing and subject to applicable law, upon the occurrence of a default by
the Borrower or any guarantor involving bankruptcy, insolvency, receivership
proceedings or an assignment for the benefit of creditors, the interest rate on
this Note shall automatically increase to a rate of 5% per annum plus the rate
otherwise payable hereunder.

 

Effectiveness of Prior Documents. Except as specifically amended hereby, the
Agreement, the Note and the other Loan Documents shall remain in full force and
effect in accordance with their respective terms. All warranties and
representations contained in the Agreement and the other Loan Documents are
hereby reconfirmed as of the date hereof. All collateral previously provided to
secure the Agreement and/or Note continues as security, and all guaranties
guaranteeing obligations under the Loan Documents remain in full force and effect.
This is an amendment, not a novation.

 

Preconditions to Effectiveness. This Amendment shall only become effective upon
execution by the Borrower and the Bank, and approval by any other third party
required by the Bank.

 

No Waiver of Defaults; Warranties. This Amendment shall not be construed as or
be deemed to be a waiver by the Bank
of existing defaults by the Borrower, whether known or undiscovered. All
agreements, representations and warranties made herein shall survive the
execution of this Amendment.

 

Counterparts.
This Amendment may be signed in any number of counterparts, each of which shall
be considered an original, but when taken together shall constitute one
document.

 

Authorization.
The Borrower represents and warrants that the execution, delivery and
performance of this Amendment and the documents referenced herein are within
the authority of the Borrower and have been duly authorized by all necessary
action.

 

Transferable Record. The agreement and note, as amended, is a “transferable record” as
defined in applicable law relating to electronic transactions. Therefore, the
holder of the agreement and note, as amended, may, on behalf of Borrower,
create a microfilm or optical disk or other electronic image of the agreement
and note, as amended, that is an authoritative copy as defined in such law. The
holder of the agreement and note, as amended, may store the authoritative copy
of such agreement and note, as amended, in its electronic form and then destroy
the paper original as part of the holder’s normal business practices. The
holder, on its own behalf, may control and transfer such authoritative copy as
permitted by such law.

 

Attachments. All documents attached hereto, including any appendices,
schedules, riders, and exhibits to this Amendment, are hereby expressly incorporated
herein by reference.

 

[SIGNATURE(S)
ON NEXT PAGE]

 

2

 

	
  Dated
  as of:

  	
  MAY 15, 2006

  	
  .

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (Individual Borrower)

  	
   

  	
  Outdoor Channel Holdings, Inc.

  
	
   

  	
   

  	
   

  	
  Borrower Name (Organization)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  a

  	
  Delaware Corporation

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Borrower Name

  	
  N/A

  	
   

  	
  By:

  	
  /s/ William A. Owen

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  William A. Owen

  
	
   

  	
   

  	
   

  	
  Name and Title:

  	
  Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Borrower Name

  	
  N/A

  	
   

  	
  Name and Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Agreed to:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  U.S. BANK N.A.

  	
   

  	
   

  	
   

  
	
  (Bank)

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Maureen K. Sullivan

  	
   

  	
   

  	
   

  
	
   

  	
  Maureen K. Sullivan

  	
   

  	
   

  	
   

  
	
  Name and Title:

  	
  Vice President

  	
   

  	
   

  	
   

  
												

 

3

 

ADDENDUM TO REVOLVING CREDIT AGREEMENT AND NOTE

 

This Addendum is made part
of the Revolving Credit Agreement and Note (the “Agreement”) made and entered
into by and between the undersigned borrower (the “Borrower”) and the
undersigned bank (the “Bank”) as of the date identified below. The warranties,
covenants and other terms described below are hereby added to the Agreement.

 

Amendments
to Financial Information and Reporting Requirements. Financial information and reporting
requirements set forth in the Agreement are modified, added, deleted or
restated as more specifically set forth below. Financial information and
reporting requirements which are not modified, restated or deleted below shall
remain in full force and effect. Financial terms used in the Amendment which
are not specifically defined in the Amendment shall have the meanings ascribed
to them under generally accepted accounting principles. For any Borrower or
Guarantor who does not have a separate fiscal year end for tax reporting
purposes, the fiscal year will be deemed to be the calendar year.

 

Modification
of Borrower Financial Information and Reporting. All Borrower financial information and
reporting requirements, whether set forth below or in the Agreement, will be
provided by Borrower, in form and content acceptable to Bank, pertaining to
Borrower. The following financial information and reporting requirements
are hereby added or restated:

 

Annual
Financial Statements:
Not later than 90 days after the end of each fiscal year, annual financial
statements, audited by a certified public accounting firm acceptable to Bank.

 

Interim
Financial Statements:
Not later than 60 days after the end of each fiscal quarter, interim financial
statements, prepared by Borrower.

 

Certificate
of Compliance (this
requirement pertains to Borrower only, regardless of whether financial reports
are otherwise required for Borrower together with others hereunder): Not later
than 60 days after the end of
each fiscal quarter, a certificate, executed by Borrower (or, if Borrower is an
entity, by Borrower’s chief financial officer or other officer or person
acceptable to Bank) certifying that the representations and warranties set
forth in the Agreement are true and correct as of the date of the certificate
and further certifying that, as of the date of the certificate, no default
exists under the Agreement.

 

Deletion
of Financial Information and Reporting Requirements. The following financial information and
reporting requirements are hereby deleted from the Agreement, as previously
amended:

Agings
of Accounts Receivable and Agings of Accounts Payable

 

Amendments
to Financial Covenants.
Financial covenants set forth in the Agreement are modified, added, deleted or
restated as more specifically set forth below, Financial covenants which are
not modified, restated or deleted below shall remain in full force and effect.
Financial terms used in the Amendment which are not specifically defined in the
Amendment shall have the meanings ascribed to them under generally accepted
accounting principles. For any Borrower or Guarantor who does not have a
separate fiscal year end for tax reporting purposes, the fiscal year will be
deemed to be the calendar year.

 

Modification
of Borrower Financial Covenants. All Borrower financial covenants, whether set forth below or in the
Agreement, will be maintained by Borrower (for purposes of all existing, new
and amended financial covenants, the “Subject Party”).

 

Senior
Funded Debt to EBITDA Ratio as of the end of each fiscal quarter for the fiscal quarter then ended
of not more than 1.50 to 1.

 

“Senior
Funded Debt to EBITDA Ratio” shall mean the ratio of Senior Funded
Debt to EBITDA.

 

“Senior
Funded Debt” shall mean indebtedness for borrowed money, for the
deferred purchase price of property not purchased on ordinary trade terms, for
capitalized leases and for other liabilities evidenced by promissory notes or
other instruments, but not including any indebtedness that has been
subordinated to the indebtedness evidenced by the Note pursuant to a writing
that has been accepted by Bank.

 

“EBITDA”
shall mean net income, plus interest expense, plus income tax expense, plus
depreciation expense plus amortization expense.

 

 

Deletion
of Financial Covenants.
The following financial covenants are hereby deleted from the Agreement, as
previously amended: Fixed Charge Coverage

 

	
  Dated as of

  	
  May 15, 2006

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Individual)

  	
   

  	
  (Non-Individual)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Outdoor Channel Holdings,
  Inc.

  
	
  Borrower Name

  	
   

  	
  a/an Delaware
  Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ William A. Owen

  	
   

  
	
  Borrower Name

  	
   

  	
  Name and Title William A.
  Owen, Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name and Title

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Agreed to:

  
	
   

  	
   

  	
  U.S. BANK N.A.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Maureen K. Sullivan

  	
   

  
	
   

  	
   

  	
  Name and Title Maureen K.
  Sullivan, Vice President

  
								

 

 

SECOND
ADDENDUM TO AMENDMENT

TO LOAN AGREEMENT AND NOTE

 

by and between

 

U.S. Bank N.A. and
Outdoor Channel Holdings, Inc. 

 

May 15, 2006

 

This Second Addendum to
Amendment to Loan Agreement and Note (this “Addendum”)
is made part of the Amendment to Loan Agreement and Note of even date herewith
(the “Amendment”) made and entered into by
and between the undersigned borrower (the “Borrower”) and
U.S. Bank N.A. (the “Bank”). The
warranties, covenants and other terms of this Addendum and the Addendum to Revolving
Credit Agreement and Note of even date herewith (the “First
Addendum”) by and between Borrower and Bank (i) supplement, amend or
modify the Agreement (as defined in the Amendment), the Amendment and to the
extent inconsistent herewith, all Loan Documents (as defined in the Agreement)
and any and all other documents by and between Bank and Borrower that have not
expired or terminated, including, without limitation, that certain Term Loan
Agreement dated October 18, 2005 by and between Bank and Borrower, as such
agreement may have been amended, modified, supplemented, extended, replaced or
restated (collectively, the “Term Loan Agreement”),
and (ii) constitute warranties, covenants and terms of all the extensions of
credit made by Bank to Borrower, including, without limitation, the extensions
of credit made pursuant to Term Loan Agreement. The First Addendum and this
Addendum are (notwithstanding the name of the First Addendum and the
introductory paragraph in the First Addendum) addendums to the Amendment.
Capitalized terms and financial terms not defined herein shall have the
meanings ascribed to them in the Agreement (as amended) or, if not defined in
the Agreement, the meanings ascribed to them by generally accepted accounting
principles. In the event of any conflict between the provisions of the
Agreement, the Amendment, the First Addendum, any Loan Document, the Term Loan
Agreement or any other document by and between Bank and Borrower, on the one
hand, and the provisions of this Addendum on the other, the provisions of this
Addendum shall prevail and control.

 

1.             Fixed
Charge Coverage Ratio. The provision of the Addendum to Term Loan Agreement
and Note dated October 18, 2005 (the “October 18, 2005 First
Addendum”) by and between Borrower and Bank entitled ““Fixed Charge Coverage Ratio”” (containing the definition
thereof) is hereby amended, restated and replaced in its entirety by the
following:

 

“Fixed Charge
Coverage Ratio” shall mean (a) net income, plus interest expense,
plus rent expense, plus income tax expense, plus depreciation, plus
amortization, plus charges related to non-cash stock-based compensation per the
SFAS 123R requirement, minus cash taxes, cash dividends and Maintenance Capital
Expenditures divided by (b) the sum of all required principal payments
(on short and long term debt and capital leases), interest expense and rental
or lease expense.

 

2.             Profitability.
The provision of the Second Addendum to Amendment to Loan Agreement and Note
dated October 18, 2005 (the “October 18, 2005 Second
Addendum”) by and between Borrower and Bank entitled “Quarterly Profits” is hereby amended, restated and replaced
in its entirety by the following:

 

Quarterly
Profits. The Borrower shall have and shall report Net Profit
After Taxes of an amount greater than $250,000.00 excluding any charges related
to non-cash stock based compensation per the SFAS 123R requirement for each of
its fiscal quarters.

 

3.             Continuing
Validity. Except as expressly modified above or in other agreements between
Borrower and Bank, the terms of the Agreement, the Amendment, the First
Addendum, the Term Loan Agreement, the October 18, 2005 First Addendum, the
October 18, 2005 Second Addendum and the other Loan Documents (as defined in
the Agreement), and the other documents by and between Bank and Borrower in
connection with extensions of credit by Bank to Borrower, shall remain
unchanged and in full force and effect.

 

 

	
  Dated as of May 15, 2006

  
	
   

  
	
  Borrower:

  
	
   

  
	
  Outdoor Channel Holdings,
  Inc.,

  
	
  a Delaware corporation

  
	
   

  
	
   

  
	
  By:

  	
  /s/ William A. Owen

  	
   

  
	
   

  	
  William A. Owen,

  	
   

  
	
   

  	
  Chief Financial Officer

  	
   

  
	
   

  
	
  Bank:

  
	
   

  
	
  U.S. Bank N.A.

  
	
   

  
	
   

  
	
  By:

  	
  /s/ Maureen Sullivan

  	
   

  
	
   

  	
  Maureen Sullivan,

  	
   

  
	
   

  	
  Vice PresidentExhibit
10.1

NMS COMMUNICATIONS
CORPORATION

NON-QUALIFIED
STOCK OPTION AGREEMENT

 

NON-QUALIFIED
STOCK OPTION AGREEMENT (this “Agreement”) by and between NMS COMMUNICATIONS
CORPORATION, a Delaware corporation (the “Company”), and the employee of the
Company or an Affiliate of the Company (the “Optionee”) specified in
Schedule A appended to this Agreement (“Schedule A”).

WHEREAS,
the Company assumed the Openera Technologies, Inc. 2005 Equity Incentive Plan
and India Supplement thereto (collectively the “Plan”) from Openera
Technologies, Inc. (“Openera Corp.”) pursuant to the Agreement and Plan of
Merger, dated as of February 13, 2006, by and among the Company, Openera, Orca
Acquisition Corporation, the Company’s wholly-owned subsidiary, certain
stockholders of Openera and Joel A. Hughes as Stockholder Representative
(the ”Merger Agreement”) pursuant to which the Company acquired Openera
Corp. and Openera’s wholly-owned subsidiary Openera Technologies Pvt. Ltd. (“NMS
India”);

WHEREAS,
each of Openera Corp. and NMS India is an Affiliate of the Company;

WHEREAS,
a copy of the Plan has been made available to Optionee electronically or
delivered in paper form;

WHEREAS,
the Optionee renders important Services to the Company or an Affiliate of the
Company, and the Company desires to grant a stock option to the Optionee; and

WHEREAS,
the Board of Directors of the Company (the “Board”) or the Compensation
Committee of the Board (the “Committee”), acting pursuant to the Plan, has
authorized the grant of this Nonqualified Stock Option to the Optionee subject
to the terms and conditions of the Plan and the additional terms and conditions
of this Agreement;

NOW,
THEREFORE, in consideration of the premises and the mutual covenants herein
contained, the Company and the Optionee hereby agree as follows:

1.             Grant of Option.   The
Company hereby grants to the Optionee, and the Optionee hereby accepts, a
Nonqualified Stock Option (the “Option”) to purchase from the Company that
number of shares of the Company’s Common Stock, $0.01 par value per share (the “Shares”),
specified in Schedule A.  This Agreement
and the Option hereby 

 

granted to the
Optionee are subject to all of the terms and conditions of the Plan which are
incorporated herein by this reference. 
Any capitalized term used herein shall have the meaning assigned thereto
in the Plan, unless such term is otherwise specifically defined herein.

This
Option is intended to constitute a Nonqualified Stock Option and is not
intended to constitute an “incentive stock option” within the meaning of
Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), nor
to qualify for any other special tax treatment under the Code.

2.             Option Price; Date of Grant.   This
Option may be exercised at the option price per Share specified in Schedule A,
which the Board or Committee has determined, in accordance with Section 6.2 of
the Plan, is 100% of the Fair Market Value of a Share on the Grant Date of this
Option.  The Grant Date of this Option is
specified in Schedule A.

3.             Term of Option; Vesting and
Employment Requirements.   This Option shall expire on the date
specified in Schedule A (the “Expiration Date”). This Option shall be
exercisable, in whole or in part, to the extent of the number of Shares then
vested, in accordance with the vesting schedule provided in Schedule A.
The vesting installments provided in Schedule A are cumulative, and this
Option will remain exercisable with respect to all vested but unexercised
installments until the Option expires on the Expiration Date, unless the Option
is sooner terminated as provided in Section 8 or Section 9 of this Agreement.

4.             Other Conditions and Limitations.   The
Option shall not be assignable or transferable by the Optionee otherwise than
by will or by the laws of descent and distribution, and the Option shall be
exercisable during the lifetime of the Optionee by the Optionee only.

5.             Exercise of Option.   Written
notice of the exercise of the Option or any portion thereof shall be given to
the Plan Administrator of the Company accompanied by the option price (i) in
cash or by check, (ii) if permitted by the Board or Committee, by delivery and
assignment to the Company of Shares having a value equal to the option price,
(iii) if permitted by the Board or Committee, in accordance with a
deferred payment or other arrangement, (iv) if permitted by the Board or
Committee, by any other form of legal consideration, including by delivery of
the Optionee’s personal recourse note, or (v) if permitted by the Board or
Committee, a combination of (i), (ii), (iii) and (iv).

6.             Stock Dividends; Stock Splits;
Stock Combinations; Recapitalizations.   Appropriate adjustment shall
be made in the maximum number of Shares subject to this Option and in the
number, kind and option price of Shares covered by this Option to the extent it
remains outstanding, to give effect to any stock dividends, stock splits, stock
combinations, recapitalizations and other similar changes in the capital
structure of the 

 

Company after the
Grant Date of this Option, as determined by the Board or Committee in
accordance with Section 9.13 of the Plan.

7.             Merger, Reorganization or Sale
of Asset.   In the event of a change of the Common Stock of the Company
resulting from a merger or similar reorganization as to which the Company is
the surviving corporation, the number and kind of Shares then subject to this
Option and the price per share thereof shall be appropriately adjusted in such
manner as the Board or Committee may deem equitable to prevent substantial
dilution or enlargement of the rights available or granted hereunder. In the
event of a merger or a similar reorganization which the Company does not
survive, or a sale of all or substantially all of the assets of the Company,
the rights of the Optionee shall be as determined by the Board or Committee in
accordance with Sections 9.4 and 9.5 of the Plan.

8.             Change of Control.   Notwithstanding
the foregoing, effective immediately prior to (but subject to the completion
of) a Change in Control, the Option shall be vested and exercisable as to all
Shares that have become vested as of the Change in Control in accordance with
the vesting schedule set forth on Schedule A plus such additional options that,
in accordance with the vesting schedule, would have become vested over the next
succeeding twelve (12) months from the date of the Change in Control.  The remainder of the Shares shall continue to
vest subject to Schedule A as if accelerated by twelve (12) months.  The Optionee must otherwise be eligible to
exercise the Option as of the date of the Change in Control pursuant to the
other terms of this Agreement.  The
foregoing rights are cumulative and (subject to Section 9.6 of the Plan upon
the termination of the Optionee’s Service to the Company or an Affiliate) may
be exercised only before the expiration date set forth on Schedule A.

9.             Termination of Option.   In
the event that the Optionee ceases for any reason to be an employee of the
Company, or an Affiliate of the Company, at a time prior to the exercise of
this Option in full, this Option shall terminate in accordance with the
provisions in Section 9.6 of the Plan.

10.           Taxation; Tax Withholding
Requirements.   The Optionee understands and acknowledges that upon his
exercise of the Option hereunder he will recognize for income tax purposes an
amount of ordinary income equal to the excess, if any, of the fair market value
of the Shares over the option price.  Any
amounts required by any then applicable tax law to be withheld by the Company
from the compensation the Optionee is deemed to have received upon any exercise
of this Option or portion thereof shall, to the extent possible, be withheld
from the cash compensation paid by the Company to the Optionee; to the extent
such withholding amounts cannot be so withheld, the Company shall, within seven
(7) days after it receives notice of such exercise, notify the Optionee of such
withholding amounts not so withheld and the Optionee shall pay to the Company
the stated withholding amounts within ten (10) days of such notification and
prior to delivery of any certificate(s) for Shares purchased by the Optionee.

11.           Compliance With Securities Laws.   The
Company shall not be obligated to sell or issue any Shares pursuant to this
Option unless the Shares with respect to which 

 

this Option is
being exercised are at that time effectively registered or exempt from
registration under the 1933 Act, and any applicable state securities or “blue
sky” law (“Blue Sky Law”).  In the event
Shares or other securities shall be issued which shall not be so registered,
the Optionee hereby represents, warrants and agrees that he will receive such
Shares or other securities for investment and not with a view to the resale or
distribution thereof, and will not transfer such Shares or other securities unless
they are effectively registered for such transfer under the Act and any
applicable Blue Sky Law or unless an opinion of counsel satisfactory to the
Company has been received by the Company to the effect that such registration
is not required.  The Optionee further
agrees that the stock certificate or certificates evidencing such Shares may
bear a legend setting forth such restrictions on their transferability.  The exercisability and vesting of this Option
shall be subject to the provisions of the Plan.

12.           Rights as a Stockholder; No
Obligation to Continue Employment.   The Optionee shall have no rights
as a stockholder with respect to the Shares subject to the Option until the
exercise of the Option and the issuance of a stock certificate for the Shares
with respect to which the Option shall have been exercised.  Nothing herein contained shall impose any
obligation on the Company or any of its Affiliates or the Optionee with respect
to the Optionee’s continued employment by the Company or any of its
Affiliates.  Nothing herein contained
shall impose any obligation upon the Optionee to exercise the Option.

13.           Relationship to Plan.   The
Option contained in this Agreement has been granted pursuant to the Plan, and
is in all respects subject to the terms, conditions and definitions of the
Plan, as amended from time to time.  If
there is any inconsistency between the provisions of this Agreement and the
provisions of the Plan, the latter shall control.  The Optionee hereby accepts this Option
subject to all the terms and provisions of the Plan and agrees that all
decisions under and interpretations of the Plan by the Board or Committee shall
be final, binding and conclusive upon the Optionee and his permitted heirs,
executors, administrators, successors and assigns.

14.           Miscellaneous.   In case
any one or more of the provisions or part of any provision contained in this
Agreement shall, for any reason, be held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provision or part of this Agreement, but this
Agreement shall be construed as if such invalid, illegal or unenforceable
provision or part of a provision had never been contained herein.  This Agreement shall be binding upon and
inure to the benefit of the parties hereto, and to their respective heirs,
executors, administrators, successors and assigns.  This Agreement shall be governed by and
construed and administered in accordance with the internal laws of the State of
Delaware.

IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed as of the
Grant Date specified in Schedule A.

 

 

	
  

  	
  NMS COMMUNICATIONS CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Robert P. Schechter

  
	
   

  	
   

  	
  Chairman of the Board, President and

  
	
   

  	
   

  	
  Chief Executive Officer

  

 

 

 

A C C E P T A N C
E

I
hereby accept the within Option in accordance with the terms and conditions
thereof, and subject to the terms and conditions of the Openera Technologies,
Inc.  2005 Equity Incentive Plan, as
assumed by NMS Communications Corporation and as amended from time to time.

	
  

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (Signature of
  Optionee)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}]]