Document:

EX-10.3

 Exhibit 10.3 

RETENTION BONUS AGREEMENT 
 WHEREAS,
David Guerrera, (the “Employee”) is currently an employee of Sycamore Networks, Inc. (the Company”); and 
 WHEREAS, the Company and
Employee have determined that it is in the best interests of both parties to encourage Employee to remain employed by the Company during the period specified below. 

NOW, THEREFORE, in consideration of the promises and mutual agreements made herein, the parties agree as follows: 

 

	 	1.	Retention Bonus. The Company will pay a retention bonus to Employee following the occurrence of the following: 

  

	 	a.	If Employee continues to perform in a satisfactory manner his duties and responsibilities and remains employed with the Company through the dates set forth below (the “Qualifying Dates”), the Company will pay
retention bonuses to Employee of thirty-thousand ($30,000) (the “Retention Bonuses”) in the first regular payroll following each of the Qualifying Dates set forth below: 

 

	 	i.	March 7, 2014 

  

	 	ii.	March 7, 2015 

  

	 	iii.	March 7, 2016 

  

	 	b.	If the Employee’s employment with the Company is terminated by the Company for any reason other than Cause (as defined below) between the date hereof and any Qualifying Date shown above, and Employee will no
longer provide services to the Company on a consulting or independent contractor basis, Employee will receive a Retention Bonus as if the Qualifying Date for that particular year of service had occurred, but will not receive Retention Bonuses for
any future years. 

  

	 	c.	If the Employee’s employment with the Company is terminated by the Company for any reason other than Cause (as defined below) between the date hereof and any Qualifying Date shown above, but Employee will continue
to provide services to the Company on a consulting or independent contractor basis following termination, Employee will continue to receive Retention Bonuses in accordance with the schedule set forth in 1(a) above. 

 

	 	d.	 For purposes of 1(b) and 1(c) above, “Cause” shall mean (a) an intentional act of fraud, embezzlement or theft in connection with the
Employee’s duties to the Company or in the course of Employee’s employment with 

	 	
the Company; (b) Employee’s willful engagement in gross misconduct that is demonstrably and materially injurious to the Company; or (c) Employee’s willful and continued
failure to perform his duties with the Company (other than any such failure resulting due to physical or mental illness). For purposes of this definition, no act or failure to act on Employee’s part shall be deemed “willful” unless
done or omitted to be done by employee not in good faith and without reasonable belief that Employee’s action or omission was in the best interests of the Company. 

 

	 	2.	Withholding. It is understood and agreed upon that the Company shall deduct from the Retention Bonuses all applicable statutory and discretionary withholding amounts to the extent Employee remains an employee of
the Company. If Employee’s employment with the Company is terminated but Employee will continue to provide services to the Company on a consulting or independent contractor basis following termination, the Company will not withhold taxes with
respect to the Retention Bonuses. 

  

	 	3.	Separate Payment. The Retention Bonuses are separate and distinct from any payments for which Employee may be entitled to under any severance or other employment agreement with the Company. 

 

	 	4.	No Right of Employment. The receipt and execution of this Agreement does not change the Company’s relationship with Employee. This Agreement does not give Employee the right to be retained in the employment
of the Company, nor does it imply or confer any other employment rights. Nothing contained in this Agreement shall be construed to create a contract of employment with Employee, and the Company’s relationship with Employee shall remain
terminable at will. 

  

	 	5.	Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the matters referred to herein and no other agreement, oral or otherwise, shall be binding upon the parties
unless it is in writing and signed by the party against whom enforcement is sought. There are no promises, representations, inducements or statements between the parties with respect to this matter other than those that are expressly contained in
this Agreement. 

  

	 	6.	Amendments. This Agreement may not be altered, modified or amended except by written instrument signed by an authorized representative of each of the parties. 

 

	 	7.	Governing Law. This Agreement shall be governed by the laws of the Commonwealth of Massachusetts, without regard to the conflict of laws principles thereof. 

 IN WITNESS WHEREOF, the parties have executed this Agreement. 

 

			
	        By:	 	 /s/ David Guerrera

		
	        Date:	 	 April 15, 2013

  

			
	SYCAMORE NETWORKS, INC.
		
	        By:	 	 /s/ Alan R. Cormier

		
	        Date:	 	 April 15, 2013EX-10.4

 Exhibit 10.4 

SEVERANCE PAY AGREEMENT 

This Severance Pay Agreement (the “Agreement”) is made and entered into by and between David Guerrera
(“Employee”) and Sycamore Networks, Inc. (the “Company”), effective as of April 15, 2013 (the “Effective Date”). 

RECITALS 
 1. WHEREAS, David Guerrera
is currently an employee of Sycamore Networks, Inc. (the Company”); and 
 2. WHEREAS, the Company believes that it is imperative to provide Employee
with certain separation benefits upon Employee’s termination of employment under certain circumstances. These benefits will provide Employee with enhanced financial security and incentive and encouragement to remain with the Company. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto agree as follows: 
 1. Term of
Agreement. This Agreement will terminate upon the date that all of the obligations of the parties hereto with respect to this Agreement have been satisfied. 

2. At-Will Employment. The Company and Employee acknowledge that Employee’s employment is and will continue to be at-will, as
defined under applicable law. If Employee’s employment terminates for any reason, Employee will not be entitled to any payments, benefits, damages, awards or compensation other than as provided by this Agreement, the payment of accrued but
unpaid wages or other compensation, as required by law, as may otherwise be available in accordance with the Company’s established employee plans, and any unreimbursed reimbursable expenses, and this Agreement supersedes all prior agreements or
arrangements relating to the same. 
 3. Separation Pay Benefits. 

(a) Termination without Cause or Resignation for Good Reason. If the Company terminates Employee’s employment with the Company
without Cause or if Employee resigns from such employment for Good Reason, then subject to Section 4, Employee will receive the following: 

(i) Accrued Compensation. The Company will pay Employee all accrued but unused Paid Time Off (“PTO”), expense
reimbursements, wages, and other benefits due to Employee under any Company-provided plans, policies, and arrangements. 

(ii) Separation Payment and Benefits. Employee will be paid a separation payment equal to Employee’s annual base salary, as
then in effect, in a lump sum. Separation payments will be made within fifteen (15) days following the date on which the employee’s Separation Agreement and Release becomes effective and irrevocable. 

(iii) COBRA Premiums. If the Company continues to have at least one active employee as a participant under its group health, dental,
and/or vision plans, and Employee 

 
elects to extend Employee’s group health, dental, and/or vision insurance coverage under COBRA, for the first twelve (12) months following termination of employment the Company will pay
the same percentage of Employee’s monthly premiums that it pays for active employees. After the expiration of such period, Employee, if eligible, may continue such coverage for the remainder of the COBRA coverage period at Employee’s own
expense. In the event that Company no longer has any active employees and as a result is unable to provide COBRA continuation coverage to Employee, the Company will not otherwise be obligated to provide any payment or reimbursement to Employee in
connection with Employee obtaining Employee’s own health insurance coverage. 
 (iv) Outplacement. Employee will be eligible to
participate in, for up to twenty-six (26) weeks from execution of the applicable Separation Agreement and Release (and expiration of any applicable revocation period) and any other separation documents required for participation in the Plan,
outplacement services from a service provider selected by the Company. A detailed description of the services will be provided in employee’s separation package. Payment in lieu of outplacement services will not be provided. Engagement in the
services must begin within sixty (60) days of Employee’s separation date. 
 (b) Voluntary Resignation; Termination for
Cause. If Employee’s employment with the Company terminates voluntarily by Employee (other than for Good Reason), then Employee will not be entitled to receive separation pay or other benefits. If Employee’s employment with the Company
is terminated for Cause by the Company, then Employee will not be entitled to receive separation pay or other benefits. 

(c) Disability; Death. If the Company terminates Employee’s employment as a result of Employee’s Disability, or
Employee’s employment terminates due to his or her death, then Employee will not be entitled to receive any other separation pay or other benefits, except for those (if any) as may then be established under the Company’s then existing
written benefits plans. 
 (d) Exclusive Remedy. In the event of a termination of Employee’s employment as set forth in
Section 3(a) of this Agreement, the provisions of Section 3(a) are intended to be and are exclusive and in lieu of any other rights or remedies to which Employee or the Company otherwise may be entitled, whether at law, tort or contract,
in equity, or under this Agreement (other than the payment of accrued but unpaid wages, as required by law, and any unreimbursed reimbursable expenses). 

4. Conditions to Receipt of Severance 

(a) Release of Claims Agreement. The receipt of any severance payments or benefits (other than the accrued benefits set forth in
either Sections 3(a)(i)) pursuant to this Agreement is subject to Employee signing (and not revoking) within the twenty-one-day period following Employee’s termination of employment a separation agreement and release of claims in a form
acceptable to the Company (the “Separation Agreement and Release”), which must become effective and irrevocable no later than the twenty-eighth day following Employee’s termination of employment (the
“Release Deadline”). If the Separation Agreement and Release does not become effective and irrevocable by the Release Deadline, Employee will forfeit any right to severance payments or benefits under this Agreement. In no
event will separation payments or benefits be paid or provided until the Separation Agreement and Release actually becomes effective and irrevocable. 

 (b) Section 409A. 

(i) It is intended that none of the severance payments and other benefits under this Agreement will constitute nonqualified deferred
compensation subject to the provisions of Section 409A of the Internal Revenue Code of 1986 (“Section 409A”), but rather will be exempt from Section 409A including, without limitation, as a result of the satisfaction of the
“short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the regulations promulgated under Section 409A. 

(ii) The foregoing provisions are intended to comply with or be exempt from the requirements of Section 409A so that none of the
severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply. The Company and Employee agree to work together in good
faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition before actual payment to Employee under
Section 409A. 
 5. Definition of Terms. The following terms referred to in this Agreement will have the following
meanings: 
 (a) Cause. “Cause” will mean: 

(i) an intentional act of fraud, embezzlement or theft in connection with the Employee’s duties to the Company or in the course of
Employee’s employment with the Company; 
 (ii) Employee’s willful engagement in gross misconduct that is demonstrably and
materially injurious to the Company; or
 (iii) Employee’s willful and continued failure to perform his duties with the Company
(other than any such failure resulting due to physical or mental illness).
 For purposes of this definition, no act or failure to act on
Employee’s part shall be deemed “willful” unless done or omitted to be done by Employee not in good faith and without reasonable belief that Employee’s action or omission was in the best interests of the Company. 

(b) Disability. “Disability” means that Employee has been unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months. Alternatively, Employee will be
deemed disabled if determined to be totally disabled by the Social Security Administration. Termination resulting from Disability may only be effected after at least thirty (30) days’ written notice by the Company of its intention to
terminate Employee’s employment. In the event that Employee resumes the performance of substantially all of Employee’s duties hereunder before the termination of Employee’s employment becomes effective, the notice of intent to
terminate based on Disability will automatically be deemed to have been revoked. 

 (c) Good Reason. “Good Reason” shall mean Employee’s
voluntary termination, within thirty (30) days following the expiration of any Company cure period (discussed below) following, without Employee’s consent: 

(i) any material diminution in Employee’s position, title or responsibilities;

(ii) any material diminution in Employee’s then-current annual base salary or bonus potential; or 

(iii) any required relocation of Employee’s primary work location by more than 35 miles. 

Employee may not resign for Good Reason without first providing the Company with written notice within ninety (90) days of the initial existence of the
condition that Employee believes constitutes “Good Reason” specifically identifying the acts or omissions constituting the grounds for Good Reason and a reasonable cure period of not less than thirty (30) days following the date of
such notice. 
 6. Successors. 

(a) The Company’s Successors. Any successor to the Company (whether direct or indirect and whether by purchase, merger,
consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets will assume the obligations under this Agreement and agree expressly to perform the obligations under this Agreement in the same manner
and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company” will include any successor to the Company’s business and/or
assets which executes and delivers the assumption agreement described in this Section 7(a) or which becomes bound by the terms of this Agreement by operation of law. 

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

7. Notice of Termination. Any termination by the Company for Cause or by Employee for Good Reason will be communicated by a notice
of termination to the other party hereto. Such notice will indicate the specific termination provision in this Agreement relied upon, will set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under
the provision so indicated, and will specify the termination date (which will be not more than ninety (90) days after the giving of such notice). 

 8. Miscellaneous Provisions. 

(a) No Duty to Mitigate. Employee will not be required to mitigate the amount of any payment contemplated by this Agreement, nor
will any such payment be reduced by any earnings that Employee may receive from any other source. 
 (b) Waiver. No provision of
this Agreement will be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by Employee and by an authorized officer of the Company (other than Employee). No waiver by either party of any
breach of, or of compliance with, any condition or provision of this Agreement by the other party will be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

(c) Headings. All captions and section headings used in this Agreement are for convenient reference only and do not form a part of
this Agreement. 
 (d) Entire Agreement. This Agreement constitutes the entire agreement of the parties hereto and supersedes in
their entirety all prior representations, understandings, undertakings or agreements (whether oral or written and whether expressed or implied) of the parties with respect to the subject matter hereof, including all prior agreements providing for
severance or other compensation to Employee upon termination or resignation of his employment with the Company. No waiver, alteration, or modification of any of the provisions of this Agreement will be binding unless in writing and signed by duly
authorized representatives of the parties hereto and which specifically mention this Agreement. 
 (e) Choice of Law. The
validity, interpretation, construction and performance of this Agreement will be governed by the laws of the Commonwealth of Massachusetts. 

(f) Severability. The invalidity or unenforceability of any provision or provisions of this Agreement will not affect the validity
or enforceability of any other provision hereof, which will remain in full force and effect. 
 (g) Withholding. All payments
made pursuant to this Agreement will be subject to withholding of applicable income, employment and other taxes. 

(i) Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which
together will constitute one and the same instrument. 
 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of
the Company by its duly authorized officer, as of the day and year set forth below. 

							
	EMPLOYEE	 		 	By:	 	 /s/ David Guerrera

				
		 		 	Date:	 	 April 15, 2013

  

					
	COMPANY	 		 	                    SYCAMORE NETWORKS, INC.
			
		 	By:	 	 /s/ Alan R. Cormier

			
		 	Title:	 	 President and Chief Executive Officer

			
		 	Date:	 	 April 15, 2013

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