Document:

Form of Executive Officer employment contract

 Exhibit 4.8 
  

«CreationDate» 
  
 «EmpName» 
 «Company» 
  
 Senior Agreement Core
Terms and Conditions 
  
 We hope that this will be the beginning of an
enjoyable and mutually beneficial association between us. These Core Terms and Conditions are all about what you can expect from us and what we expect from you. 
  

Attached to this document are the following: 
  

	•	Individual Terms 

  

	•	Remuneration and Rewards Statement 

  

	•	Appropriate Short Term Incentive Scheme Rules 

  

	•	Position Description (including Delegated Authority information) 

  

	•	The Telecom Group’s Values and Code of Ethics 

  
 Definitions 
  
 Where terms like “we”, “our” and “the Telecom Group” are used, they refer to Telecom Corporation of New Zealand Limited and its subsidiaries and related companies. 
  
 About Us 
  
 The Telecom Group is an exciting, busy and fast-moving place to be working. Every day brings new challenges and opportunities for us to
deliver outstanding service and value to our customers and to make a difference to the future success of the Telecom Group. To do this we need to be flexible. When you are promoted or change roles within the Telecom Group, these core terms and
conditions will not change. However the attached information about your individual terms, including your role, position description, your employer and your remuneration may be updated as appropriate. 
  
 As our business requirements change we may second, redeploy or transfer you at any time to
other roles within the wider Telecom Group (whether in New Zealand or Australia) that suit your skills and experience, or change who you report to. We won’t second, redeploy or transfer you outside of the greater metropolitan area where your
current role is based without your agreement. 
  
 We expect to: 
  

	•	Be a good employer 

  

	•	Treat you with respect 

  

	•	Provide you with feedback on your performance 

  

	•	Appoint and promote on merit 

  

	•	Provide a supportive and rewarding work environment 

  

	•	Act fairly and within the law in exercising our rights and obligations towards you. 

 About You 
  
 As an employee of the Telecom Group, you are expected to: 
  

	•	Display a high degree of personal and professional integrity 

  

	•	Demonstrate the Telecom Group’s Values 

  

	•	Perform to the standards required in your role 

  

	•	Develop and grow your capabilities 

  

	•	Comply with all reasonable directions given to you 

  

	•	Work in the best interests of the Telecom Group at all times 

  

	•	Avoid acting in a manner that brings or could bring the Telecom Group into disrepute. 

  
 Your performance will be reviewed regularly by your manager. You will be held accountable for your personal performance. 
  
 Remuneration and Rewards 
  
 The Telecom Group sets remuneration levels for senior employees based on market
competitiveness, company performance and individual contribution. Details of your remuneration package are in your attached remuneration statement. 
  
 Annual remuneration reviews, rewards, and when payments are made are subject to our policies and rules in place at the time. By electing to take up any of the optional
benefits offered by the Telecom Group, you acknowledge that the cost of these will be deducted from your Total Base Remuneration. The remaining amount will be your base salary and will be paid by direct credit into your nominated bank account.

  
 We will advise you as soon as possible of any changes to the cost of benefits.
Where the cost of the benefits provided changes, you authorise us to change your base salary accordingly from the date the change takes effect. 
  
 Incentive Schemes 
  
 Short-Term Incentive (STI) 
  
 The Telecom Group has a short-term incentive scheme which forms part of your overall remuneration package. The Telecom Group regularly reviews the structure of the
short-term incentive to ensure it is aligned with business strategy and objectives. We reserve the right to implement, apply, amend, remove or revoke the STI programme, specific STI schemes or scheme rules at our sole discretion. 
  
 Long-Term Incentives (LTI) 
  
 The long-term incentive is also subject to review to ensure that it both meets the purpose
of aligning senior executives to our goals and ensuring that the rights of shareholders are protected. All offers and grants are subject to Board approval. Please note that an offer of long-term incentives in any one year does not necessarily mean
that offers and grants will be made in subsequent years. We again reserve the right to implement, apply, amend, remove or revoke the LTI programme, specific LTI schemes or scheme rules at our sole discretion. 

 Policies and Guidelines 
  

The Telecom Group has a range of policies, practices and guidelines that may apply to you and your role, and they may be updated from time to time. These cover such
diverse topics as: 
  

	•	Incentive Scheme rules 

  

	•	Internet and E-mail use 

  

	•	Health and Safety 

  

	•	Harassment and Discrimination 

  
 You are expected to know and comply with these policies and guidelines at all times. Breaching these codes and/or policies could result in disciplinary action, including
a warning or dismissal. The full policies and guidelines are available for all employees to view on the relevant Telecom Group intranet site. 
  
 Changes 
  
 You agree that we may, as business needs dictate, be required to change: 
  

	•	Your position title, reporting line, position description and/or your duties to meet business requirements. However, any such changes will not adversely impact on your remuneration
or core terms and conditions under this employment agreement; 

  

	•	Your employer within the Telecom Group; 

  

	•	Performance targets including, for example, your individual targets, targets for your Business Unit and targets for the Telecom Group, or any part of it; 

 

	•	The Telecom Group’s policies, practices, rules and guidelines. 

  
 Changes to terms and conditions of your employment will be made in writing. Verbal or other agreements have no effect. 
  
 In the event that the identity of your employer within the Telecom Group changes, but the
other terms and conditions of your employment are substantially the same, you agree that you will not be entitled to any termination or redundancy payments. 
  
 Confidentiality 
  
 During your employment with the Telecom Group you will obtain or have access to confidential information about our business, customers, suppliers and others. This information is not to be disclosed or used by you in
any circumstances other than in the proper performance of your work with the Telecom Group or as required by law. This obligation continues even after your employment with us has ended. 
  
 Confidential information includes confidential information of any kind (whether written, oral or electronic), including any trade secret or
commercially sensitive or valuable information concerning the business, affairs, customers or suppliers of the Telecom Group which may come into your knowledge and which is not in the public domain. 
  
 We take this obligation very seriously and will enforce it if we discover that you have
provided any confidential or commercially sensitive information to the media, a competitor, supplier or any member of the public, or if you use any such information for your personal gain. 

 Intellectual Property 
  
 All intellectual property, inventions, copyright and other rights conceived or developed wholly or partly by you in the course of your employment with us will belong
solely to the Telecom Group. 
  
 You agree to waive any and all authorship rights
in relation to material produced by you in the course of your employment with us. 
  
 Conflict of Interest 
  
 Conflicts 
  
 You are expected to devote your full time and
energy to your role. For this reason you are not permitted to engage in any other business activities (other than incidental investments which do not present any actual or potential conflict) without the prior written consent of the Telecom Group.
If you do have other business interests, you must disclose these to your manager at the commencement of your employment and gain our permission in writing to continue them. In the event that we believe that there is a conflict of interest or that
your secondary business interests are impacting adversely on the performance of your role, we will give you an opportunity to rectify the situation. If the issue is not resolved to our satisfaction, we may terminate your employment by giving you
notice in writing in accordance with the notice period specified in your attached individual terms, or we may decide to pay you out in lieu of this notice period or any portion remaining. 
  
 Non-competition 
  
 Given the seniority of your role with us, you undertake to the Telecom Group that you will not work in any capacity in any business or
activity within Australia and New Zealand which is competitive with any business carried on by the Telecom Group, for a period of three months from the last day of your employment with us. 
  
 Non-solicitation 
  
 For a period of three months from your last day of employment with us you will not either on
your own account or for any person, firm, company, organisation or entity, solicit or endeavour to solicit or entice away from the Telecom Group any director, consultant, employee or any customer or supplier of the Telecom Group. 
  
 Acknowledgements 
  
 You acknowledge that the above undertakings regarding non-competition and non-solicitation
are reasonable and necessary for the protection of the goodwill and legitimate business interests of the Telecom Group. You further acknowledge that your remuneration package is valid consideration for these covenants. 
  
 You also acknowledge that the remedy of damages for breach of the undertakings regarding
non-competition and non-solicitation would be inadequate and that an injunction may be granted in any proceedings which the Telecom Group may bring to enforce either of these clauses, without the necessity of proof of actual damage by the Telecom
Group. 
  
 If any part of these non-competition/non-solicitation covenants is held
or found to be void, invalid, or otherwise unenforceable, it will be deemed to be severed to the extent that it is void or unenforceable, but the remainder of the clause will remain in full force and effect. 

 Health and Safety 
  
 You are required to comply with our Health and Safety policies, guidelines and processes, and in particular to take all practicable steps to ensure your own fitness for
work and the safety of yourself and others in the workplace. You are required to ensure you maintain your ability to perform your duties safely and effectively. You must advise us of any medical condition (including any stress-related symptoms)
which may impact on your ability to perform your duties safely and/or effectively. 
  
 Termination 
  
 Resignation

  
 You can resign at any time by giving us notice in writing in accordance
with the notice period specified in your attached individual terms. We reserve the right to pay you any remuneration owing in lieu of notice or any portion remaining, to require you to undertake reduced or alternative duties, or to not attend the
workplace during this period. 
  
 Summary
Termination 
  
 You may be dismissed without notice or any payment in lieu of
notice where you: 
  

	•	Commit a serious or persistent breach of this agreement, including (but not limited to) refusal to obey a lawful and reasonable request, dishonesty, the serious or persistent
neglect of your responsibilities etc; 

  

	•	Seriously breach of any of the Telecom Group’s policies, codes, rules or practices; 

  

	•	Breach the Telecom Group’s Delegated Authority Framework; 

  

	•	Breach the Code of Ethics; 

  

	•	Engage in conduct that may bring the Telecom Group into disrepute or detrimentally affect its interests; 

  

	•	Are absent from work for more than three months at one time or at least three months over a twelve month period as a result of mental or physical illness, injury or incapacity that
renders you incapable or performing your duties under this agreement; or 

  

	•	Commit any other act or omission that constitutes serious misconduct. 

  
 Discretionary Termination 
  
 We may terminate your employment where we consider that your continued employment will not be in the best interests of the Telecom Group. You accept that this may include
circumstances where your manager forms the view that a substantial incompatibility and/or irreconcilable differences have developed. In the event that this occurs, both parties agree in advance that we are entitled to terminate your employment
immediately and you will be paid an amount equivalent to your redundancy compensation, as per the attached schedule. You will not be entitled to any additional payment in lieu of notice. Both parties agree in advance that this total sum represents a
fair and reasonable payment to compensate you for loss of employment and that you will have no further claim against the company arising from the termination of your employment. 
  
 Termination for Other Reasons 
  
 Where we believe there is a good reason to end your employment for reasons including (but not limited to) poor performance or misconduct not
warranting summary termination then, having followed a lawful process, we may terminate your employment by giving you notice in writing in accordance with the notice period specified in your attached individual terms, or we may decide to pay you out
in lieu of this notice period or any portion remaining. 

 Suspension 
  
 In the event that we are investigating a serious issue that has the potential to result in your dismissal, you may be suspended on pay
pending the outcome. 
  
 Garden Leave

  
 Where your employment terminates for any reason other than summary
termination, we reserve the right to pay you in lieu of notice or to place you on garden leave. If you are placed on garden leave we may require that you do not perform your duties (or that you perform different duties) or do not attend the work
place during the notice period. While on garden leave, you will continue to receive your Total Base Remuneration (other than incentive payments) for the balance of the notice period, and you will remain an employee of the Telecom Group, and will
continue to be bound by your duties under this agreement. 
  
 Redundancy 
  
 Your employment may be
terminated when the position you hold is no longer required. Should your employment be terminated in these circumstances you will receive notice in writing of your last day of employment in accordance with the notice period specified in your
attached individual terms, or we may decide to pay you out in lieu of this notice period or any portion remaining. Information about your eligibility for redundancy payments is specified in your attached individual terms. 
  
 There may be situations where the whole or part of the Telecom Group’s business is sold,
leased transferred, contracted out or outsourced to another person or organisation, and as a result your position is no longer required by the Telecom Group. If this occurs and you are offered a role by that person or organisation, or in the wider
Telecom Group, you won’t be entitled to receive any redundancy compensation: 
  

	•	If, in our opinion, the role which you have been offered is suited to your skills and experience; and 

  

	•	You’re offered substantially the same terms and conditions or terms and conditions that are overall no less favourable; and 

  

	•	Your service with the Telecom Group is recognised. 

  
 Post Termination 
  
 After your employment with us ends, you agree that you will not represent yourself as being in any way connected with or involved in the business of the Telecom Group.

  
 Return of Property 
  
 When your employment with the Telecom Group ends you are required to return all of our
property in your possession or control as soon as possible, including Telecom Group information stored on property that doesn’t belong to the Telecom Group. Unless your employment is terminated without notice, you must return all such property
before your last day of paid employment. 
  
 Employment Problems

  
 If you have a problem in your relationship with the Telecom Group, then
you should raise this with your manager (or another appropriate manager). If the problem is a personal grievance you must let us know within 90 days of the action which caused the grievance coming to your notice. 

 If we cannot resolve the matter, you can contact the Department of Labour for info or either of us may ask their
Mediation Service for assistance. If this is not successful either of us may refer the issue to the Employment Relations Authority. We have 28 days to appeal the Employment Relations Authority’s decision to the Employment Court. You can contact
the Department of Labour on 0800 800 863 or www.dol.govt.nz. 
  
 Recovery of Money 
  
 Where you have received an overpayment or
where you owe the Telecom Group money as a result of your employment relationship, you acknowledge that we may recover this by deducting it from your pay, in accordance with our policy. 
  
 Completeness 
  
 These terms and conditions of employment, including the remuneration and rewards statement, replace all previous agreements and arrangements between you and the Telecom
Group, and are a complete record of your employment terms and conditions with the Telecom Group. 
  
 This offer of employment is valid until close of business «ExpDate». If it is not agreed to by this time this offer will lapse and won’t be able to be accepted. 
  
 I, «EmpName», confirm that: 
  

	•	The information I have provided when applying for this role is true and correct, and that I have not knowingly failed to disclose information that may have influenced the Telecom
Group’s decision to employ me. I acknowledge that if it is subsequently found that I have provided false or misleading information to the Telecom Group, or have knowingly failed to disclose relevant information, that this constitutes serious
misconduct under this agreement; 

  

	•	I have been given a reasonable opportunity to seek independent advice about this employment agreement; and 

  

	•	I have read and understood the above terms and conditions of employment and confirm that I agree to them. 

  

			
	Signed:	    	Signed:
		
	  

	    	  

	«MgrName»	    	«EmpName»
	«MgrTitle»	    	 
		
	 	    	  

	 	    	Date

 Individual Terms 
  

			
	Employee’s Name:	  	«EmpName»
		
	Employer:	  	«Company»
		
	Position title:	  	«PosTitle»
		
	Governing law:	  	Your employment in this role is governed by the laws of New Zealand.
		
	Effective Date:	  	Your appointment to this role is effective from «Effective_Date».
		
	Hours of Work:	  	Your hours of work will generally be normal business hours. At times you may be required to work outside these hours and/or on public holidays to satisfy the requirements of your role, and
your remuneration package is deemed to constitute full consideration for all hours and days worked.
		
	Leave Entitlements:	  	 You are entitled to:
  
 •      4 weeks’ annual leave after the completion of each 12 months’
service;
  
 •      10 days’ paid sick leave per annum (which can accrue up to a maximum of 50 days); and
  
 •      Bereavement leave to be approved at manager’s discretion.
  
 Taking leave is subject to the Telecom Group’s policies and
guidelines.

		
	Redundancy Entitlements:	  	 If your employment with the Telecom Group ends because of redundancy, you will receive notice in writing according to the clause below, or payment
in lieu of such notice, and a redundancy compensation payment equivalent to nine months of your Total Base Remuneration.
  
 Any payments that may be due to you under an incentive scheme will be paid according to the rules of the scheme.

		
	Notice Period:	  	If your employment with the Telecom Group ends on notice because of resignation, redundancy or performance issues / misconduct etc, your notice period is three months.
		
	Motor Vehicle:	  	Subject to our policies operating at the time, we may offer you a motor vehicle as an optional benefit. Where a vehicle is provided, we will meet normal operating costs and expenses incurred
in running it, and you will have reasonable private use of the vehicle. Any vehicle provided to you will be in accordance with the price range, model, and rules as set out in the Telecom Group’s policies. The offer and replacement of a vehicle
provided by the Telecom Group will be in accordance with our policies operating at the time.

 Remuneration Statement 
  

							
	Name:	  	«EmpName»	  	Employee Number:	  	«EmpNo»
				
	Effective Date:	  	«Effective_Date»	  	 	  	 

  
 Fixed Remuneration

  

			
	 Total Base Remuneration
	  	«TBROTE»

  

				
	 Less Salary Sacrifice
	  	 	 
	 Motor Vehicle
	  	 	 
	 Carpark
	  	 	 
		
	 Annual Base Salary
	  	$	                        

  
 Variable Remuneration
 
  

					
	 Telecom Senior Short-Term Incentive Scheme
	  	Annual Target Value	  	«EVASTI»

  
 The Telecom Senior Short-Term
Incentive Scheme is paid annually at the completion of the financial year based on the achievement against a combination of business and individual performance objectives. Your Business performance components, specifically based on your position and
role within Telecom, are as follows:  
  

				
	 Business Performance

	  	Weighting

	 
		
	 Telecom Component
	  	50	%
	 NZ BU Component
	  	25	%
	 TOTAL
	  	25	%

  

					
	Telecom Long Term Incentive Scheme	  	Annual Target Value	  	«LTI1»

  
 Effective from 1 September 2005
subject to performance  
  

			
	LTI Scheme	 	 Annual
 Target Value

  

			
	 Restricted Share Scheme
	  	«Shares»
		
	 Share Option Scheme
	  	«Opts»DDi Corp. Severance Plan for Key Employees effective December 19, 2004

 Exhibit 10.1 
  
 DDi CORP. AMENDED AND RESTATED SEVERANCE PLAN FOR KEY EMPLOYEES 
 EFFECTIVE DECEMBER 19, 2004 
 AND
SUMMARY PLAN DESCRIPTION 
  
 1. Introduction. DDi Corp.
(“DDI”) has established the DDi Corp. Severance Plan For Key Employees (hereafter the “Plan”) effective as of December 19, 2004. The purpose of the Plan is to establish a uniform basis for providing Severance Payments to Key
Employees who are selected for participation and whose employment is terminated as set forth herein. To that end, this Plan terminates and supersedes both (i) all prior plans, policies and practices of the Company with respect to severance pay or
separation pay for Key Employees, and (ii) all employment agreements, offer letters, written terms of employment or agreements of similar application (“Employment-related Agreements”) between the Company (or its affiliates) and any Key
Employee, to the extent any such agreement relates to severance pay or separation pay for any such Key Employee. This document constitutes both the written instrument under which the Plan is maintained and the summary plan description for the Plan.

  
 2. Definitions. 
  
 2.1 “Cause” with respect to any Participant shall mean:

  

	 	a.	willful refusal to perform, in any material respect, his or her duties or responsibilities for DDI; 

  

	 	b.	material breach of his or her duties or responsibilities to DDI; 

  

	 	c.	gross negligence or willful disregard in the performance of his or her duties or responsibilities; 

  

	 	d.	willful disregard, in any material respect, of any financial or other budgetary limitations established in good faith by the Board of Directors of DDI if continuing after written
notice; 

  

	 	e.	engaging in conduct that causes material and demonstrable injury, monetarily or otherwise, to DDI, including, but not limited to, misappropriation or conversion of DDI’s
assets; or 

  

	 	f.	conviction of or entry of a plea of nolo contendere to a felony. 

  
 2.2 “Change of Control” means (A) the acquisition of 50 percent or more of each class of the outstanding shares of the Company by a third
party which is not a member of a Controlled Group (within the meaning of the Internal Revenue Code) including the Company, 
  

 1 

 (B) a merger, consolidation or other reorganization of the Company (other than reincorporation), if after giving effect
to such merger, consolidation, or other reorganization, the shareholders of the Company immediately prior to such merger, consolidation, or other reorganization do not represent a majority in interest of the holders of voting securities (on a fully
diluted basis) with the ordinary power to elect directors of the surviving entity after such merger, consolidation or other reorganization, or (C) the sale of all or substantially all of the assets of the Company to a third party who is not a member
of a Controlled Group (within the meaning of the Internal Revenue Code) including the Company. 
  
 2.3 “Company” means DDI, a Successor Employer or an employer following a Change of Control. 
  
 2.4 “Disability” means a physical or mental condition that renders the Participant unable to perform the essential functions of his or
her job with or without a reasonable accommodation for a period of 180 consecutive days or more. 
  
 2.5 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 
  
 2.6 “Good Reason” shall mean the occurrence of one or more
of the following with respect to such employee: (i) a material reduction in compensation or benefits (provided, however, that a reduction in salary that is both (x) made part of a company-wide salary reduction and (y) no greater than the percentage
reduction made for the applicable salary level in the Company salary reduction of July 2001, shall be deemed to be immaterial); (ii) involuntary relocation of primary work location more than 50 miles from the current location; (iii) any other event
so defined in any applicable Employment-related Agreement and/or (iv) in the event of a Change of Control, the Successor Employer fails to offer the employee a position having responsibilities, compensation and benefits substantially similar to
those enjoyed by the employee immediately preceding the Change of Control. 
  
 2.7 “Key Employee” are employees designated as such by the Company’s Board of Directors, which has determined that Key Employees are divided into four (4) tiers, based on their positions within
the DDI organization, as follows: 
  
 Tier I:
President & Chief Executive Officer (1 person) 
 Tier II: Vice Presidents and other Key Officers (10 persons) 

Tier III: Key Managers and Professionals (8 persons) 
 Tier IV: Key Managers and Professionals (2 persons) 
  
 2.8 “Participant” means a Key Employee who is selected for participation by the Board of Directors within
the exercise of its sole discretion, who is notified of such participation and who satisfies all of the other conditions of eligibility set forth herein. Those Key Employees selected for participation and notified of their participation as of the
Effective Date are identified in Schedule 1 hereto as the same may be modified from time to time in accordance with the provisions hereof. 
  

 2 

 2.9 “Plan” means the DDi Corp. Amended and Restated Severance Plan For Key Employees
Effective December 19, 2004, as set forth in this instrument and as hereafter amended. 
  
 2.10 “Plan Administrator” means the Company, a Successor Employer or an employer following a Change of Control. 
  

2.11 “Plan Year” means the calendar year. 
  
 2.12 “Severance Payment” means the compensation paid to a Participant pursuant to Section 3 following termination of his or her
employment with the Company. 
  
 2.13 “Successor
Employer” means any employer that acquires, through a stock purchase or merger, or through an asset purchase, or otherwise, part or all of the Company or an employer following a Change of Control. 
  
 3. General Eligibility. 
  
 3.1 Eligibility To Participate. A Key Employee becomes a Participant under the Plan only if
all of the following conditions are met: (1) he or she is a Key Employee; (2) he or she is selected for participation by the Company’s Board of Directors; (3) his or her employment with the Company or a Successor Employer is
involuntarily terminated by action of the Company or a Successor Employer, as the case may be, for reasons other than Cause or voluntarily terminates for Good Reason; (4) such termination described in the immediately preceding clause occurs during
the Severance Term; (5) he or she signs a release as provided in section 4.2; and (6) Severance Payments to him or her are not excluded under Section 4.4. 
  
 3.2 Exclusions. A Participant is not entitled to a Severance Payment in the event of: 
  

	 	a.	termination of employment for Cause; 

  

	 	b.	death; 

  

	 	c.	Disability; or 

  

	 	d.	voluntary termination of employment by the Participant for any reason other than for “Good Reason.” 

  
 4. Amount and Form of Benefits. 
  
 4.1 Severance Payment Amount. Any Key Employee who is selected for
participation, otherwise meets all of the terms and conditions of this Plan and is involuntarily terminated without Cause or who voluntarily terminates employment with the Company or a Successor Company for Good Reason during the time period
commencing on the Effective Date and ending on the second anniversary thereof (the “Severance Term”) shall be eligible to receive a severance benefit under this Severance Pay Plan in accordance with the tiered structure depicted below. The
aggregate amount of the severance benefit shall be calculated by taking the product of the Key Employee’s annual “Base Salary” (which, for purposes of this plan shall mean the then current annual base salary in effect as of the date
of termination multiplied by a fraction, the numerator of which shall be the applicable Severance Term set forth below, and the denominator of which shall be 12.1 
  

			
	 Tier

	  	Severance Term

	 I
	  	24 months
	 II
	  	12 months
	 III
	  	9 months
	 IV
	  	6 months

	1	By virtue of Compensation Committee resolution dated November 15, 2004, the calculation of Severance Payment for Tier II Participant, Mikel Williams, shall be sum of
the amount calculated pursuant to this section 4.1 plus $225,000.00. 

  

 3 

 4.2 Release. No Severance Payment or other benefit shall be made or provided to a Participant
unless he or she provides a signed release of employment-related and other claims in such form as DDI may require. 
  
 4.3 Form and Time of Severance Payment. Severance payments shall be subject to payroll taxes and other withholdings under DDI’s or a Successor
Employer’s standard payroll practices, as applicable, and shall be paid, in the Company’s discretion, either (a) as salary continuation on regularly scheduled payroll dates for the duration of the applicable Severance Term, or (b) as a
lump sum, in either case of (a) or (b) commencing within 30 days after the effective date of a release executed by the Participant in accordance with Section 4.2. 
  
 4.4 Limitation. In no event will a Severance Payment be made to a Participant (i) contingent (directly or indirectly)
upon his or her retiring, (ii) in an amount that is more than twice his or her annual Compensation during the year before his or her termination of employment, or (iii) over a period longer than 24 months after his or her termination of employment.

  
 4.5 Health Insurance Benefits. For those Participants
who timely elect to receive COBRA coverage for health insurance under DDI’s group health insurance plan, DDI agrees to reimburse COBRA premiums made by such Participant for the period of time commencing with the Key Employee’s termination
date and ending with the earlier of (i) the last day of the applicable severance term set forth in section 4.1 above, and (ii) the date upon which the Key Employee becomes eligible to participate in the health insurance plan of a subsequent employer
without limitation for pre-existing conditions. 
  
 4.6 Plant
Shut-Down or Mass Layoff. If a Participant is laid off or discharged because of a plant shut-down or mass layoff to which the Worker Adjustment and Retraining Notice Act of 1988 (“WARN”) applies, Severance Payments shall not be
available except as provided in this subsection. In accordance with WARN, an employee shall be given either 60 days’ notice of termination of employment, 60 days’ pay in lieu of notice, or a combination of notice and pay in lieu of notice
the total of which equals not less than 60 days. The amount of 
  

 4 

 Severance Payments to which the Key Employee is entitled under the Plan shall be determined by subtracting the number of
days’ pay in lieu of notice he or she receives pursuant to WARN from the amount of Severance Payments to which he or she would be otherwise entitled under this Section 4. If the pay in lieu of notice under WARN exceeds that Severance Payment
amount the then employee will be entitled to no Severance Payments under this Plan. 
  
 4.7 Corporate Transactions and Change of Control. The obligations of the Plan shall be binding on a Successor Employer. 
  

5. Administration. The Plan is administered by the Plan Administrator, which is the “named fiduciary” of the Plan for purposes of ERISA. The Plan
Administrator has the discretion to interpret the terms of the Plan and to make all determinations about eligibility and payment of benefits. All decisions of the Plan Administrator, any action taken by the Plan Administrator with respect to the
Plan and within the powers granted to the Plan Administrator under the Plan, and any interpretation by the Plan Administrator of any term or condition of the Plan, are conclusive and binding on all persons, and will be given the maximum possible
deference allowed by law. The Plan Administrator may delegate and reallocate any authority and responsibility with respect to the Plan. 
  
 6. Amendment or Termination. The Company reserves the right, in its sole and unlimited discretion, to amend or terminate the Plan at any time by resolution of the
Compensation Committee of the DDi Corp. Board of Directors, without notice to or consent of Participants in the Plan. 
  
 7. Claim and Appeal Procedure 
  
 Your benefit under the Severance Plan will be paid to you as a matter of course; accordingly, there is no need to file a claim for your benefit with the
Plan Administrator other than completing any administrative forms which may be required by the Plan Administrator, as well as the Release required by Section 4.2. The amount of your benefit under the Severance Plan is reflected in the Release
provided to you. If you dispute the amount of your benefit, you may file a claim with the Plan Administrator. If your claim for a benefit is denied in whole or in part, you will be given written notice of the decision within ninety (90) days after
the receipt of the claim. The Plan Administrator may take up to one hundred eighty (180) days after receipt of the claim to respond when special circumstances exist, in which case it will notify you within the ninety (90) day period of the special
circumstances and the date by which the Administrator expects the claim to be determined on review. The notice of denial will include the specific reasons for the denial, the specific Severance Plan provisions upon which the denial is based, a
description of any additional material or information necessary for you to prove the claim, an explanation of why such material or information is necessary and an explanation of the Severance Plan’s claim review procedure. 
  
 If you feel that you have been improperly denied a benefit under the
Severance Plan after reviewing the explanation, you should request, in writing, within sixty (60) days after receipt of the denial notice, a second review of your claim. You will then be given the opportunity to review pertinent documents and submit
questions and comments in writing. The request for review should be directed to the Plan Administrator and must explain the reasons for the request. 
  

 5 

 A written decision on the request for review will be made within sixty (60) days of the receipt of the
request, or within one hundred twenty (120) days under special circumstances that require an extension of time for processing. If special circumstances prevent a decision from being made within sixty (60) days, you will be notified in writing of the
extension and the date by which the Plan Administrator expects the claim to be determined on review prior to the commencement of the extension. The decision on the review will be sent to you in writing and will include the specific reasons for the
decision and the Severance Plan provisions upon which the decision is based. It will also inform you of your right to reasonable access to any information relevant to your claim for benefits and of your right to bring an action under section 502(a)
of ERISA. This is the final decision under the Severance Plan’s administrative procedures. 
  
 8. Source of Payments. All Severance Payments will be paid in cash from the general funds of the Company; no separate fund will be established under the Plan; and the Plan will have no assets. 
  
 9. Inalienability. In no event may any Participant sell, transfer, anticipate, assign
or otherwise dispose of any right or interest under the Plan. At no time will any such right or interest be subject to the claims of creditors, nor liable to attachment, execution or other legal process. 
  
 10. Applicable Law. The provisions of the Plan will be construed, administered and
enforced in accordance with ERISA and, to the extent applicable, the laws of the State of California. 
  
 11. Severability. If any provision of the Plan is held invalid or unenforceable, its invalidity or unenforceability will not affect any other provision of the Plan, and the Plan will be construed and enforced
as if such provision had not been included. 
  
 12. Agreements. The Plan
Administrator may, in its discretion, enter into written agreements with Key Employees in which the Plan Administrator may vary the terms of the Plan. The severance provisions of any such agreement are incorporated by reference herein with respect
to the Key Employee to which it relates. 
  
 13. No Employment Rights.
Neither the establishment nor the terms of the KERP shall be held or construed to confer upon any employee the right to a continuation of employment by DDI, nor constitute a contract of employment, express or implied. Subject to any applicable
Employment-related Agreement, DDI reserves the right to dismiss or otherwise deal with any employee, including the Participants, to the same extent as though the KERP had not been adopted. Nothing in the KERP is intended to alter the
“AT-WILL” status of Participants, it being understood that, except to the extent otherwise expressly set forth to the contrary in an Employment-related Agreement, the employment of any Participant can be terminated at any time by either
DDI or the employee with or without notice, with or without cause. 
  

 6 

 14. Additional Information. 
  
 Plan Sponsor: DDi Corp. 
  
 Employer Identification Number: 06-1576013 
  
 Plan Number: 555 
  
 Plan Year: Calendar year 
  
 Plan Administrator: Plan Sponsor 
  
 Agent for Service of Legal Process: Director of Human Resources 
  

15. Execution. 
  
 IN WITNESS WHEREOF, the Chief Executive Officer of DDi Corp., has executed the Plan on the date indicated below. 
  

			
	            DDi Corp.
		
	            By:	 	 /s/    BRUCE D. MCMASTER

	            Printed:	 	 Bruce D. McMaster

	            Title:	 	 President and Chief Executive Officer

	            Dated:	 	 December 17, 2004

  

 7 

 Your Rights Under ERISA 
  
 As a Participant in an employee welfare plan, you are entitled to certain rights and protections under ERISA. Specifically,
ERISA provides that all Severance Plan Participants are entitled to: 
  
 Receive Information About Your Plan and Benefits 
  

	 	•	Examine all Severance Plan documents at the Plan Administrator’s office without charge. 

  

	 	•	Obtain copies of all Severance Plan documents and other Severance Plan information upon written request to the Plan Administrator. The Plan Administrator may make a reasonable
charge for the copies. 

  
 Prudent Actions by Plan Fiduciaries

  
 In addition to creating rights for plan participants,
ERISA also imposes duties upon the people who are responsible for the operation of the employee benefit plan. The people who operate your plan, called “fiduciaries” of the plan, have a duty to do so prudently and in the interest of you and
other plan participants and beneficiaries. No one, including your employer or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a benefit or exercising your rights under ERISA. 

 
 Enforce Your Rights 
  
 If your claim for a benefit is denied or ignored, in whole or in part, you have a right to know why this was done, to obtain
copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules. Under ERISA, there are steps you can take to enforce the above rights. For instance: 
  

	 	•	If you request a copy of plan documents or the latest annual report from the Plan and do not receive them within 30 days, you may file suit in a federal court. In such a case, the
court may require the Plan Administrator to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Plan Administrator.

  

	 	•	If your claim for benefits is denied or ignored, in whole or in part, you may file suit in a federal or state court. 

  

	 	•	If you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court.

  

 8 

 If you file suit, the court will decide who should pay court costs and legal fees. If you are successful,
the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay the costs and fees (for example, if it finds your claim was frivolous). 
  
 Assistance with Your Questions 
  
 If you have any questions about the Severance Plan, you should contact the
Plan Administrator. If you have any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Plan Administrator, you should contact the nearest office of the Pension and Welfare
Benefits Administration, U.S. Department of Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Pension and Welfare Benefits Administration, U.S. Department of Labor, 200 Constitution Avenue N.W.,
Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Pension and Welfare Benefits Administration. 
  

 9 

 Schedule 1 
  

DDI Key Employee Severance Plan Participants 
  

			
	Bruce McMaster, Chief Executive Officer	  	Tier I
		
	Michael Moisan, Chief Operating Officer	  	Tier II
	Mikel Williams, Chief Financial Officer	  	Tier II
	Timothy Donnelly, VP & General Counsel	  	Tier II
	Bradley Tesch, VP Operations – Value Add	  	Tier II
	Terry Wright, VP & CTO	  	Tier II
	Thomas Ingham, VP Sales – East	  	Tier II
	Jay Latin, VP Sales – West	  	Tier II
	John Stumpf, VP Finance & Treasurer	  	Tier II
	Becky Yang, Corporate Controller	  	Tier II
		
	John Chelberg, GM – Virginia	  	Tier III
	Steve Eldefonso GM – Anaheim	  	Tier III
	Robert Hembree, CTO	  	Tier III
	Victor Hemingway, GM – Milpitas	  	Tier III
	Robert Miller, VP Support Operations	  	Tier III
	Jon Pereira, GM – Toronto	  	Tier III
	Ruben Zepeda, GM – Arizona	  	Tier III
		
	Pat Griset, Director of Corporate HR	  	Tier IV
	Rhonda Lavoie, Executive Administrator	  	Tier IV

  

 10

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