Document:

Senior Executive Agreement - McClary

 Exhibit 10.4 
  
 SENIOR EXECUTIVE AGREEMENT 
  
 THIS AGREEMENT is made effective as of May 1, 2004, between GLOBAL IMAGING SYSTEMS, INC., a Delaware corporation (the
“Company”), and CECIL A. MCCLARY (“Executive”). 
  
 Recitals 
  
 A. The
Company and Executive desire to enter into an agreement pursuant to which Executive will be employed as the Vice President of Human Resources of the Company on the terms and conditions set forth in this Agreement. 
  
 B. Certain definitions are set forth in Section 3 of this Agreement.

  
 Agreement 
  
 The parties hereto agree as follows: 
  
 1. Employment. The Company hereby engages Executive to serve
as the Vice President of Human Resources of the Company, and Executive agrees to serve the Company, during the Service Term (as defined in Section 1(d) hereof) in the capacities, and subject to the terms and conditions, set forth in this
Agreement. 
  
 (a) Services. During the Service
Term, Executive, as Vice President of Human Resources of the Company, shall have all the duties and responsibilities customarily rendered by Vice Presidents of Human Resources of companies of similar size and nature and as may be reasonably assigned
from time to time by the Board and the Company’s Chief Executive Officer (the “CEO”). Executive will devote his best efforts and substantially all of his business time and attention (except for vacation periods and periods of
illness or other incapacity) to the business of the Company and its Affiliates. Notwithstanding the foregoing, and provided that such activities do not interfere with the fulfillment of Executive’s obligations hereunder, Executive may (A) serve
as an officer, director or trustee of any charitable or non-profit entity; or (B) own up to 5% of the outstanding voting securities of any company. Unless the Company and Executive agree to the contrary, Executive’s place of employment shall be
at the Company’s principal executive offices in Tampa, Florida; provided, however, that Executive will travel to such other locations of the Company and its Affiliates as may be reasonably necessary and/or as required by the Board in its
sole discretion in order to discharge his duties hereunder. During the Extended Term (as defined below), if any, Executive shall perform such reasonable duties as assigned by the CEO, the Company’s Chairman, the Company’s President or the
Board, but in no event shall Executive be required to travel or to work out of his home for more than one day per week without his consent, which shall not be unreasonably withheld. 

 (b) Salary, Bonus and Benefits. 
  
 (i) Salary and Bonus. During the Service Term,
the Company will pay Executive a base salary (the “Annual Base Salary”) as the Board may designate from time to time, at the rate of not less than $130,000 per annum; provided, however, that the Annual Base Salary shall be
subject to review annually by the Board for upward increases thereon. The Executive will be eligible to receive an annual bonus in an amount of up to 50% of Executive’s Annual Base Salary for such year, as determined by the Board based upon the
Company’s achievement of budgetary and other objectives set by the Board in good faith and consistent with past practice in consultation with the Executive, which objectives shall be reasonable in light of the Company’s past year’s
performance and shall be communicated to Executive by the Board prior to the start of the Company’s fiscal year. The annual bonus, if any, shall be due and payable to Executive prior to June 30 of the following fiscal year. Upon termination of
this Agreement by the Company prior to expiration of the Service Term or by Executive for any reason, Executive shall have the option to elect to remain employed by the Company until Executive’s 65th birthday (the “Extended Term”). During the Extended Term, Executive shall be paid an annual base salary of Twelve Thousand Dollars ($12,000),
payable in accordance with the Company’s normal payroll practices. 
  
 (ii) Benefits. During the Service Term, Executive will be entitled to such other benefits approved by the Board including those made available to the Company’s other senior executives, including
participation in the Company’s healthcare plan. Executive shall be reimbursed for customary travel and other expenses, subject to standard and reasonable documentation requirements. In addition, Executive will receive a stipend of $900 per
month for lease of an automobile and other related expenses during the Service Term. Executive shall also be eligible to receive four weeks paid vacation per annum. Any unused vacation time during each fiscal year shall be “rolled-over” to
the following fiscal year to the extent permitted by the Company’s policies for other senior executives of the Company. 
  
 (iii) Options. During the Service Term, Executive has previously received the following stock options for his service: (A)
options for the purchase of up to 20,000 shares of the Company’s common stock (which options have been previously granted to Executive prior to the date of this Agreement) and (B) options for the purchase of an additional 10,000 shares of the
Company’s common stock because he remained employed by the Company on April 1, 2003. Executive received an additional 7,000 options effective February 25, 2004. These stock options shall be on substantially the same terms (including vesting) as
options granted to other executives of the Company; provided, however, that such stock options then granted shall become fully vested upon the earlier of (i) the occurrence of a Change of Control; (ii) the Executive’s resignation for Good
Reason; (iii) termination of the Executive without Cause (as defined under Florida law “Cause”); or (iv) the Executive’s retirement or commencement of the Extended Term at any time on or after April 1, 2004. 
  

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 (c) Termination. 
  
 (i) Events of Termination. Executive’s employment with the Company shall cease upon:

  
 (A) Executive’s death. 
  
 (B) Executive’s voluntary retirement with 30 days
prior written notice. 
  
 (C) Executive’s
disability, which means his incapacity due to physical or mental illness such that he is unable to perform the essential functions of his previously assigned duties for a period of six months in any twelve month period and such incapacity has been
determined to exist by either (x) the Company’s disability insurance carrier or (y) by the Board in good faith based on competent medical advice in the event that the Company does not maintain disability insurance on the Executive. 

 
 (D) Termination by the Company by the delivery to
Executive during the Service Term of at least 30 days written notice of termination. 
  
 (E) Executive’s voluntary resignation by the delivery to the Board of at least 30 days written notice from Executive that Executive
has resigned. 
  
 (ii) Rights on
Termination. 
  
 (A) If the Company
terminates Executive’s employment without Cause, then the Company will continue to pay to Executive a monthly portion of the Annual Base Salary for a period equal to 12-months commencing on the date of termination on regular salary payment
dates (the “Severance Payments”). In such event, the Company will continue to provide Executive and his current spouse with healthcare coverage until each reaches the age of 65 following the date of termination. 
  
 (B) If the Company terminates Executive’s employment
with Cause, if Executive retires, if the Service Term expires without renewal or if Executive resigns (other than within one year following a Change of Control as described under (D) below) and in any event Executive does not elect to begin the
Extended Term, the Company’s obligations to pay any compensation or benefits under this Agreement will cease effective as of the date of termination. Executive’s right to receive any other health or other 
  

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 benefits will be determined under the provisions of applicable plans, programs or other coverages.
Notwithstanding the foregoing, upon Executive’s retirement, Executive and his current spouse shall be permitted to continue to remain on the Company’s dental and medical healthcare programs until each reaches age 65 provided that Executive
pays the appropriate employee contribution to maintain coverage as provided for in the applicable plans. 
  
 (C) If Executive’s employment terminates because of Executive’s death or disability, the Company will pay Executive or his
estate an amount, if any, equal to his bonus for the current year prorated to reflect the number of days Executive has worked during the year in which he dies or becomes disabled (such amount to be paid after the end of such year when bonuses are
normally paid to other senior executives of the Company). 
  
 (D) In the event that Executive resigns from employment with the Company within one year following the Effective Date of a Change of Control, the Company shall pay to Executive a change of control payment (the
“Change of Control Payment”) consisting of Executive’s Annual Base Salary in effect at the time of such termination for a period of twenty-four (24) months, in accordance with the Company’s normal payroll practices and less all
applicable withholding taxes. In addition, the Company will continue to provide Executive and his current spouse with healthcare coverage until each reaches the age of 65 following the date of the Change of Control (the Company shall continue to pay
the Company’s normal portion of the costs of Executive’s health and dental insurance premiums in an amount consistent with that paid on the date of termination, provided that Executive chooses to participate in COBRA or a similar health
insurance continuation program and provides the Company with proof of such participation). The Change of Control Payment and benefits described in this Section 1(c)(ii)(D) are expressly contingent on Executive’s execution of a standard
severance and release agreement containing a release of any and all claims by him against the Company. Only in the event that Executive signs and executes a severance and release agreement will Executive receive any Change of Control Payment or
benefits described in this Section 1(c)(ii)(D). In addition, the Company retains the right to terminate the initiation or continuation of the Change of Control Payment and other benefits described in this Section 1(c)(ii)(D) (as well
as to pursue any other remedies available at law or in equity) if it discovers that Executive materially breaches his obligations under Section 2. 
  
 Notwithstanding the foregoing, the Company’s obligation to Executive for severance pay or other rights under either subparagraphs (A), (B) or
(D) above shall cease if Executive is in violation of the provisions of Section 2 hereof.. If Executive dies or is permanently disabled, then Executive or his estate shall be entitled to any disability income or life insurance payments
from any insurance policies paid for by the Company or its Affiliates as specified in such policies. 
  

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 (d) Term of Employment. Unless Executive’s employment under this Agreement is sooner
terminated as a result of Executive’s termination in accordance with the provisions of Section 1(c) above, Executive’s employment under this Agreement shall commence on May 1, 2004 and shall terminate on March 31, 2007, except as
extended by the Extended Term (the “Service Term”). 
  
 2. Confidential Information and Goodwill; Inventions. Executive acknowledges and agrees that: 
  
 (a) As a necessary function of Executive’s employment hereunder, Executive will have access to and utilize Confidential Information which
constitutes a valuable and essential asset of the Company’s business. 
  
 (b) The Confidential Information, observations and data obtained by him during the course of his performance under this Agreement concerning the business and affairs of the Company are the property of the
Company, including information concerning the acquisition opportunities in or reasonably related to the Business of which Executive becomes aware during the Service Term. Therefore, Executive agrees that he will not disclose to any unauthorized
person or use for his own account any of the Confidential Information without the Board’s written consent. Executive agrees to deliver to the Company at the termination of his employment, or at any other time the Company may request, all
memoranda, notes, plans, records, reports and other documents (including copies thereof) relating to the Company, the Business or any other Confidential Information. 
  
 (c) The Executive understands and agrees the terms and conditions of Executive’s employment hereunder are in
consideration for Executive’s covenants contained in Section 2 of this Agreement. If, at the time of enforcement of Section 2 of this Agreement, a court holds that the restrictions stated herein are unreasonable under
circumstances then existing the parties hereto agree that the maximum duration, scope or geographical area reasonable under such circumstances shall be substituted for the stated period, scope or area and that the court shall be allowed to revise
the restrictions contained herein to cover the maximum duration, scope and area permitted by law. Because Executive’s services are unique and because Executive has access to confidential information, the parties hereto agree that money damages
would be an inadequate remedy for any breach of this Agreement. Therefore, in the event a breach or threatened breach of this Agreement, the Company or its successors or assigns may, in addition to other rights and remedies existing in their favor,
apply to any court of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce, or prevent any violations of, the provisions hereof (without posting a bond or other security). 
  

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 GENERAL PROVISIONS 
  
 3. Definitions. 
  
 “Affiliate” of any Person means any other Person, which directly or indirectly controls, is controlled by or is under common control
with such Person. 
  
 “Board” means the
Company’s board of directors or the board of directors or similar management body of any successor of the Company. 
  
 “Business” means any business of the Company or its Subsidiaries now or hereafter engaged in, including without limitation the business
of distributing, selling and servicing office equipment in the United States. 
  
 “Change of Control Period” shall mean the period commencing on the Effective Date and ending on the first anniversary of the Effective Date. 
  
 “Confidential Information” means all confidential
information and trade secrets of the Company and its Affiliates including, without limitation, the following: the identity, written lists, or descriptions of any customers, referral sources or Organizations; financial statements, cost reports, or
other financial information; contract proposals or bidding information; business plans; training and operations methods and manuals; personnel records; fee structures; and management systems, policies or procedures, including related forms and
manuals. “Confidential Information” shall not include any information or knowledge which: (a) is in the public domain other than by Executive’s breach of this Agreement; (b) is disclosed to Executive lawfully by a third party who is
not under any obligation of confidentiality; (c) is otherwise generally known by persons engaged in the Business; or (d) was known by Executive prior to his employment with the Company. 
  
 “Effective Date” shall mean the first date on which a Change of Control (as defined in Section 5)
occurs. Anything in this Agreement to the contrary notwithstanding, if a Change of Control occurs and if the Executive’s employment with the Company is terminated within twelve months prior to the date on which the Change of Control occurs, and
if it is reasonably demonstrated by the Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change of Control or (ii) otherwise arose in connection with or
anticipation of a Change of Control, then for all purposes of this Agreement the “Effective Date” shall mean the date immediately prior to the date of such termination of employment. 
  
 “Organization” means any organization that has contracted
with the Company for the performance of sales of products or services in connection with the Business. 
  
 “Person” means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust,
a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 
  

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 “Subsidiary” means any corporation of which the Company owns securities having a
majority of the ordinary voting power in electing the board of directors directly or through one or more subsidiaries. 
  
 4. Notices. Any notice provided for in this Agreement must be in writing and must be either personally delivered, mailed by first class
United States mail (postage prepaid, return receipt requested) or sent by reputable overnight courier service (charges prepaid) or by facsimile to the recipient at the address below indicated: 
  

					
	 If to the Executive:

		
	 	  	 Cecil A. McClary

	 	  	 c/o Global Imaging Systems, Inc.

	 	  	 3820 Northdale Boulevard, Suite 200A

	 	  	 Tampa, Florida 33624

	 	  	 Tel No.:
	 	 (888) 628-7834

	 	  	 Fax No.:
	 	 (813) 264-7877

	
	 If to the Company:

		
	 	  	 3820 Northdale Boulevard, Suite 200A

	 	  	 Tampa, Florida 33624

	 	  	 Attention:
	 	 Thomas S. Johnson

	 	  	 	 	 Lawrence Paine, Esq.

	 	  	 Tel No.:
	 	 (888) 628-7834

	 	  	 Fax No.:
	 	 (813) 264-7877

		
	 	  	 with a copy to:

		
	 	  	 Hogan & Hartson, LLP

	 	  	 555 Thirteenth Street, N.W.

	 	  	 Washington, D.C. 20004

	 	  	 Attention:
	 	 Christopher J. Hagan

	 	  	 Tel No.:
	 	 (202) 637-5771

	 	  	 Fax No.:
	 	 (202) 637-5910

  
 or such other address or to the
attention of such other person as the recipient party shall have specified by prior written notice to the sending party. 
  
 5. Change of Control. For the purpose of this Agreement, a “Change of Control” shall mean: 
  
 (a) The acquisition by any individual, entity or group (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”), other than Golder, Thoma, Cressey, Rauner Fund IV, 
  

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 L.P. and its Affiliates, of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of
50% or more of either (i) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (ii) the combined voting power of the then-outstanding voting securities of the Company entitled to vote
generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change of Control: (i) any acquisition
directly from the Company approved by the Board, (ii) any acquisition by the Company, (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company, or (iv)
any acquisition by any corporation pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subsection (c) of this Section 5(a); or 
  

(b) Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least
a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the
directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual
or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 
  
 (c) Consummation of a reorganization, merger or consolidation or sale
or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), in each case, unless, following such Business Combination, (i) all or substantially all of the individuals and entities who were the
beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then
outstanding shares of common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination
(including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions
as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (ii) no Person (excluding any corporation resulting from such Business
Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 50% or more of, respectively, the then-outstanding shares of common
stock of the corporation resulting from such Business Combination, or the combined voting power of the then-outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and
(iii) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board,
providing for such Business Combination; or 
  

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 (d) Approval by the stockholders of the Company of a complete liquidation or dissolution of the
Company. 
  
 6. General Provisions. 
  
 (a) Expenses. Each party shall bear his or its own expenses
in connection with the negotiation and execution of this Agreement and the consummation of the transactions contemplated by this Agreement. 
  
 (b) Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other
provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 
  
 (c) Complete Agreement. This Agreement, those documents
expressly referred to herein and other documents of even date herewith embody the complete agreement and understanding among the parties and supersede and preempt any prior understandings, agreements or representations by or among the parties,
written or oral, which may have related to the subject matter hereof in any way including, without limitation, that certain Executive Agreement between the Company and Executive dated as of December 1, 2003. 
  
 (d) Counterparts. This Agreement may be executed in separate
counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 
  
 (e) Successors and Assigns. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable
by Executive, the Company and their respective successors and assigns; provided that the rights and obligations of Executive under this Agreement shall not be assignable. 
  
 (f) Choice of Law. This Agreement will be governed by and construed in accordance with the internal laws of
the State of Florida, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Florida or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State
of Florida. 
  
 (g) Remedies and Arbitration. Each
of the parties to this Agreement will be entitled to enforce its rights under this Agreement to recover damages and costs (including reasonable attorney’s fees) caused by any breach of any provision of this Agreement and to exercise all other
rights existing in its favor. Except for the remedies of the Company provided in Section 2(c) hereof, the parties hereto agree to submit any disputes arising out of or relating to this 
  

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 Agreement to binding arbitration in Tampa, Florida administered by the American Arbitration Association under its
Commercial Arbitration Rules, before a panel of one arbitrator, and judgment on the award rendered by the arbitrator may be entered into any court having jurisdiction thereof. The prevailing party in any arbitration shall be entitled to recover its
reasonable attorneys’ fees and costs from the other party or parties. 
  
 (h) Amendment and Waiver. The provisions of this Agreement may be amended and waived only with the prior written consent of the Company and Executive. 
  
 (i) Business Days. If any time period for giving notice or
taking action hereunder expires on a day which is a Saturday, Sunday or holiday in the state in which the Company’s chief executive office is located, the time period shall be automatically extended to the business day immediately following
such Saturday, Sunday or holiday. 
  
 (j) Termination.
This Agreement (except for the provisions of Section 1) shall survive the termination of Executive’s employment with the Company and shall remain in full force and effect after such termination. 
  
 [THIS SPACE INTENTIONALLY LEFT BLANK] 
  

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

  

			
	 GLOBAL IMAGING SYSTEMS, INC.

		
	 By:
	 	 /s/ Thomas S. Johnson

	 	 	 Thomas S. Johnson

	 	 	 President

	
	 /s/ CECIL A. MCCLARY

	 CECIL A. MCCLARY

  

 - 11 -Executive Agreement - Paine

 Exhibit 10.5 
  
 EXECUTIVE AGREEMENT 
  
 THIS EXECUTIVE AGREEMENT (this “Agreement”) is made effective for all purposes and in all respects as of the 17th day of February,
2004, by and between (i) Global Imaging Systems, Inc., a Delaware corporation (“Employer” or “Global”), and (ii) Lawrence Paine (“Executive”). 
  
 WHEREAS, Employer desires to employ Executive as Vice President and
General Counsel of Employer; 
  
 WHEREAS, Executive desires
to be employed by Employer in the aforesaid capacity; and 
  
 WHEREAS, Employer and Executive desire to set forth in writing the terms and conditions of their agreements and understandings. 
  
 NOW, THEREFORE, in consideration of the foregoing and of the mutual promises herein contained, the parties hereto, intending to be legally bound,
hereby agree as follows. 
  
 1. Duties of
Executive. 
  
 a. Description of Duties.
During the term of Executive’s employment hereunder, Executive shall serve as Vice President and General Counsel of Employer with such duties as are customary to a person holding such position in Executive’s industry and shall, among other
things, undertake and assume the responsibility of performing for and on behalf of Employer such duties as shall be assigned to Executive by any of Employer’s Chairman, President, Chief Operating Officer or Employer’s Board of Directors
(the “Board”), at any time and from time to time. It is understood and agreed that Executive’s principal duties on behalf of Employer as of the date hereof are and shall be to further develop the business of Employer. It is
further understood and agreed that any modification in or expansion of Executive’s duties hereunder shall not, unless specifically agreed by Executive and Employer in a duly executed amendment of this Agreement, result in any modification of or
increase or decrease in Executive’s compensation referred to in Section 3 hereof. 
  
 b. Performance of Duties. Executive covenants and agrees, at all times during his employment hereunder, to devote his full-time efforts, energies and skills to his duties as an Executive of
Employer, to serve Employer diligently and to the best of Executive’s ability and at all times to act in compliance with Employer’s rules, regulations, policies and procedures as shall be in effect from time to time. Executive further
covenants and agrees that he will not, directly or indirectly, engage or participate in any activities at any time during such employment which conflict with the business of Employer. 
  
 2. Term of Employment. 
  
 a. Term. The term of Executive’s employment with Employer hereunder shall commence on the date hereof and
expire on April 1, 2007, unless sooner terminated in 

 accordance with the provisions of Sections 2(b) or 2(c) hereof; provided, however, that the term of
Executive’s employment with Employer shall be automatically extended for one (1) year on April 1, 2007 and on each subsequent April 1 unless Executive or Employer shall have given written notice to the other at least thirty (30) days prior
thereto that the term of Executive’s employment shall be not be so extended. If Employer chooses not to extend the term of this Agreement as provided in this Section 2(a), it shall pay to Executive a Severance Payment (as defined below)
in accordance with Section 3(e), provided that such Severance Payment upon non-renewal by Employer shall be paid for a period of six (6) months. 
  
 b. Termination by Employer. Notwithstanding any other provision of this Agreement, Employer may terminate Executive’s employment
under this Agreement (i) without any further obligation or liability at any time for Cause (as defined below) or (ii) at any time without Cause. Such termination shall be evidenced by delivery to Executive of a Notice of Termination (as defined
below). 
  
 c. Termination by Executive.
Notwithstanding any other provision of this Agreement, Executive may terminate his employment under this Agreement: (i) at any time for Good Reason (as defined below), (ii) at any time without Good Reason, or (iii) within one year after the
Effective Date of a Change of Control. Such termination (with or without Good Reason) shall be evidenced by delivery to Employer of a Notice of Termination at least thirty (30) days prior to the effective date of such termination. 
  
 3. Compensation. In consideration of the services to be
rendered by Executive to Employer under this Agreement, Executive shall be compensated as follows: 
  
 a. Base Salary. Executive shall be paid an annual base salary (a “Base Salary”) of One Hundred Seventy Five Thousand
Dollars ($175,000), payable in accordance with Employer’s normal payroll practices and subject to an annual review and possible upward adjustment pursuant to such annual review by the Board based on Executive’s performance hereunder. All
payments hereunder shall be subject to the deduction of payroll taxes and other withholdings and assessments as required by law. 
  
 b. Bonus. Executive shall be eligible for an annual bonus (the “Bonus”) in an amount of up to 50% of
Executive’s Annual Base Salary for such year, as determined by the Board based upon the Employer’s achievement of budgetary and other objectives set by the Board in good faith and consistent with past practice in consultation with the
Executive. The annual bonus, if any, shall be due and payable to Executive prior to June 30 of the following fiscal year. The payment and amount of the Bonus shall be at the sole discretion of the Board (in the same manner as those bonuses for
similar officers and executives of other Subsidiaries of the Employer) commencing with Employer’s fiscal year beginning April 1, 2004. For any fiscal year after the fiscal year ending March 31, 2004 in which Executive is employed for less than
365 days (unless Executive has resigned without Good Reason or has been terminated for Cause), the Bonus, if any, shall be pro rated based on the number of days Executive is in the employ of Employer during such fiscal year. Notwithstanding the
foregoing, so long as Executive remains employed by Employer on April 1, 2005, then Executive shall be guaranteed that Executive’s bonus for the fiscal year ending March 31, 2005 shall not be less than $43,750. 
  

 2 

 c. Benefits and Expenses. Executive shall receive such other benefits as may be granted to
senior management of Employer generally, examples of such benefits that Executive may receive are health, dental, life or disability insurance and vacation benefits. Employer shall reimburse Executive for all reasonable travel, entertainment and
other expenses which Executive may incur in regard to the business of Employer, in accordance with and subject to the limitations of Employer’s standard practices and policies and Executive’s presentation of such documents and records as
Employer shall require to substantiate such expenses. Executive shall also receive up to $900 per month for the lease, maintenance, operation and expense of an automobile to be utilized by the Executive in connection with the Employer’s
business. In addition, Employer will reimburse Executive for all reasonable out-of-pocket moving and travel expenses associated with Executive’s relocation to the Tampa, Florida area (it being understood that all reimbursable expenses in excess
of $1,000 must be pre-approved by Cecil McClary). 
  
 d.
Stock Options. As of the date hereof, Executive shall receive a stock option grant for the purchase of 10,000 shares of the common stock of Employer at an exercise price equal to the closing price of Employer’s common stock (the
“Common Stock”) on the NASDAQ National Market System as of the date hereof. All options shall (i) be exercisable at the fair market value of the Common Stock on the date of grant; (ii) vest annually over a five-year period (subject
to accelerated vesting upon certain events of termination to the extent permitted by Global’s stock option plan); and (iii) expire not later than the tenth anniversary of the date of grant. The terms and conditions of the stock options shall
otherwise be those set forth under Employer’s stock option plan and shall be consistent with the terms contained in stock option agreements provided to other key executives of Employer. 
  
 e. Severance. In the event that Executive is terminated by
Employer without Cause or Executive terminates his employment for Good Reason (other than in connection with a non-renewal of this Agreement by the Employer pursuant to Section 2(a) above or within one year after the Effective Date of a
Change of Control pursuant to Section 3(f) below), Employer shall pay to Executive a severance payment (the “Severance Payment”) consisting of (i) in the event of termination by Executive for Good Reason for a period of
twelve (12) months in accordance with Employer’s normal payroll practices and less all applicable withholding taxes; (ii) in the event of termination by Employer without Cause, Executive’s Base Salary in effect at the time of such
termination for a period of twelve (12) months in accordance with Employer’s normal payroll practices and less all applicable withholding taxes; or (iii) in the event of termination by the Employer within one year after the Effective Date of a
Change of Control pursuant to Section 3(f) below by Executive for any reason or by Employer without Cause, Executive’s Base Salary in effect at the time of such termination for a period of twenty-four (24) months in accordance with
Employer’s normal payroll practices and less all applicable withholding taxes. In addition, during the period in which Executive receives the Severance Payment, Employer shall continue to pay the Employer’s normal portion of the costs of
Executive’s health and dental insurance premiums in an amount consistent with that paid on the date of termination, provided that Executive chooses to participate in COBRA or a similar health insurance continuation program and provides Employer
with proof of such participation. The Severance Payments and benefits described in this Section 3(e) are expressly contingent on Executive’s execution of a standard severance and release agreement containing a release of any and all
claims by him against Employer. Only in the event that Executive signs and executes a 
  

 3 

 severance and release agreement will Executive receive any Severance Payment or benefits described in this Section
3(e). In addition, Employer retains the right to terminate the initiation or continuation of the Severance Payment and other benefits described in this Section 3(e) and to recover from Executive any and all amounts previously paid (as
well as to pursue any other remedies available at law or in equity) if it discovers that Executive engaged in any fraud, theft, embezzlement, serious or substantial misconduct materially injuring Employer’s reputation, or gross negligence while
employed by Employer, if Executive materially breaches this Agreement, or if Executive breaches his obligations under Section 4. If Executive’s employment is terminated by Employer for Cause or by Executive without Good Reason, then
Executive shall not be entitled to, and Employer shall not be obligated to pay, any Severance Payment. 
  
 f. Severance after Change of Control. In the event that Executive resigns from employment with Employer within one year following the
Effective Date of a Change of Control, Employer shall pay to Executive a change of control payment (the “Change of Control Payment”) consisting of Executive’s Base Salary in effect at the time of such termination for a period
of twenty-four (24) months, in accordance with Employer’s normal payroll practices and less all applicable withholding taxes. In addition, during the period in which Executive receives the Change of Control Payment, Employer shall continue to
pay the Employer’s normal portion of the costs of Executive’s health and dental insurance premiums in an amount consistent with that paid on the date of termination, provided that Executive chooses to participate in COBRA or a similar
health insurance continuation program and provides Employer with proof of such participation. The Change of Control Payments and benefits described in this Section 3(f) are expressly contingent on Executive’s execution of a standard
severance and release agreement containing a release of any and all claims by him against Employer. Only in the event that Executive signs and executes a severance and release agreement will Executive receive any Change of Control Payment or
benefits described in this Section 3(f). In addition, Employer retains the right to terminate the initiation or continuation of the Change of Control Payment and other benefits described in this Section 3(f) (as well as to pursue any
other remedies available at law or in equity) if it discovers that Executive materially breaches his obligations under Section 4. 
  
 4. Confidential Information and Post-Employment Obligations. 
  
 a. Confidential Information. Executive acknowledges that during his employment with Employer, he will have
access to trade secrets and other confidential and/or proprietary information (“Confidential Information”). Executive agrees that, both during his employment and after the termination of his employment, he will use his best efforts
and utmost diligence to preserve, protect, and prevent the disclosure of such Confidential Information, and that he will not, either directly or indirectly, use, misappropriate, disclose or aid any other person in disclosing such Confidential
Information. Executive acknowledges that as used herein, Confidential Information includes, but is not limited to, all methods, processes, techniques, practices, product designs, pricing information, billing histories, customer requirements,
customer lists, employee lists, salary information, personnel matters, financial data, operating results, plans, contractual relationships, projections for new business opportunities for new or developing businesses, and technological innovations in
any stage of development. Confidential Information also includes, but is not limited to, all notes, records, software, drawings, handbooks, manuals, policies, contracts, memoranda, sales files, or any other documents 
  

 4 

 generated or compiled by any employee of Employer. Such information is, and shall remain, the exclusive property of
Employer, and Executive hereby covenants and agrees that he shall promptly return all such information to Employer upon termination of his employment. 
  
 b. Post-Employment Obligations. Executive agrees that the following obligations are reasonable and are necessary to protect Employer’s
business. Executive further acknowledges that these obligations do not restrict his ability to be gainfully employed, and he acknowledges that any geographic boundary, scope of prohibited activities, and time duration in these obligations are
reasonable in nature and no broader than are necessary to protect the Employer’s legitimate business interests. In consideration for his employment and for Employer’s promises herein, Executive agrees that, for a period of two (2) years
following his last day of employment, except with the express written consent of the Board, he shall not either directly or indirectly, for himself or on behalf or in conjunction with any other person, partnership, corporation or other entity:

  
 (i) own, maintain, engage in, render any services
for, manage, have any financial interest in, or permit his name to be used in connection with as a shareholder, bondholder, creditor, officer, director, partner, agent, contractor with, employer or representative of, or in any manner associated
with, or give financial, technical or other assistance to, any person, firm or corporation for the purpose of engaging in the copier/office equipment dealer, distribution, sales or service business, or in any other business in which Executive is
actively engaged in on behalf of Employer, within a 100 mile radius of any of Employer’s office facilities in the United States of America that Employer operates an office facility in existing on the date of Executive’s termination of
employment (the “Current Trade Area”); 
  
 (ii) enter into any agreement with, service, assist or solicit the business of any persons or entities who were customers of Employer as of, or within two (2) years of, the date of Executive’s termination of employment, for the
purpose of providing copier/office equipment dealer sales or service to such customers in the Current Trade Area in competition with Employer or any of its affiliates or to cause such customers to reduce or end their business with Employer; or

  
 (iii) enter into any agreement with, or solicit the
employment of any persons who were employees, consultants or representatives of Employer as of, or within two (2) years of, the date of Executive’s termination of employment, for the purpose of causing such persons to leave the employment of
Employer; 
  
 provided, however, that no owner of less
than one percent (1%) of the outstanding stock of any publicly-traded corporation shall be deemed to be in violation of this Section 4(b) solely by reason thereof. 
  
 c. Severability. The parties agree that if a court of competent jurisdiction or other enforcement body
finds that any term of this Section 4 is for any reason excessively broad in scope or duration or for other reasons finds that a term may not be enforced as written, such term shall be construed in a manner to enable it to be enforced to the
maximum extent possible. Executive’s obligations in this Section 4 shall be deemed to be a series of separate covenants and agreements, one for each and every region of each state and political division worldwide. If, in any judicial
action or proceeding, a court of competent jurisdiction shall refuse to enforce any of 
  

 5 

 the separate covenants deemed included herein, then at Employer’s option, wholly unenforceable covenants shall be
deemed eliminated from this Section 4 for the purpose of such action or proceeding to the extent necessary to permit the remaining separate covenants to be enforced in such action or proceeding. 
  
 d. Separate Obligations. The provisions of this
Section 4 are independent of any other similar obligations which Employer and Executive may have agreed to in other agreement(s), and the provisions herein shall be cumulative with any such other obligations set forth in other agreement(s).

  
 e. Employer Definition. For purposes of this
Section 4 all references to “Employer” shall include the Employer and its Subsidiaries. 
  
 5. Definitions. 
  
 a. For purposes of this Agreement, “Affiliate” of any Person means any other Person which directly or indirectly controls, is
controlled by or is under common control with such Person. 
  
 b. For purposes of this Agreement, “Board” means the Employer’s board of directors or the board of directors or similar management body of any successor of the Employer. 
  
 c. For purposes of this Agreement, “Change of Control
Period” shall mean the period commencing on the Effective Date and ending on the first anniversary of the Effective Date. 
  
 d. For purposes of this Agreement, “Cause” shall mean, without limitation: (i) the inability of Executive, through sickness or
other incapacity, to perform the essential functions of his position for a period in excess of ninety (90) substantially consecutive days or upon Executive’s death (but Executive shall remain eligible for any death or disability policies, if
any, which the Employer maintains for Executive); (ii) the commission of a felony or a crime involving moral turpitude or the commission of any other act or omission involving dishonesty or fraud; (iii) substantial and repeated failure to perform
duties of the office held by Executive as reasonably directed by the Board; (iv) gross negligence or willful misconduct with respect to the Employer or any of its Subsidiaries; (v) a material breach of this Agreement (including without limitation
breaches of Sections 1(b) and 4(a) or 4(b)); (vi) the failure of Executive for any reason, within ten (10) days after receipt by Executive of written notice thereof from Employer, to correct, cease or otherwise alter any failure
to comply with instructions or other action or omission which the Board reasonably believes does or may materially or adversely affect its business or operations; (vii) misconduct by Executive which is of such a serious or substantial nature that a
reasonable likelihood exists that such misconduct will materially injure the reputation of Employer if Executive were to remain employed by Employer; (viii) continued substandard performance by Executive as determined in good faith by the Board;
(ix) harassing or discriminating against Employer’s employees, customers or vendors in violation of Employer’s policies; and/or (x) any other act or omission which is grounds for termination with “good cause” under the laws of
the State of Florida. 
  

 6 

 e. For purposes of this Agreement, “Good Reason” shall mean (i) a decrease in the
total amount of Executive’s Base Salary below its level in effect on the date hereof, or (ii) a geographical relocation of Executive more than thirty-five (35) miles from the Employer’s current executive office location without his
consent; provided, however, that Executive will travel to such other locations of Employer as may be reasonably necessary in order to discharge his duties hereunder, or (iii) the Executive’s resignation within one year following
the Effective Date of a Change of Control. 
  
 f. For
purposes of this Agreement, a “Notice of Termination” shall mean a written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated. 
  
 g. For purposes of this Agreement, “Effective Date” shall mean the first date on which a Change of Control occurs. Anything in
this Agreement to the contrary notwithstanding, if a Change of Control occurs and if the Executive’s employment with the Employer is terminated within six (6) months prior to the date on which the Change of Control occurs, and if it is
reasonably demonstrated by the Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change of Control or (ii) otherwise arose in connection with or anticipation
of a Change of Control, then for all purposes of this Agreement the “Effective Date” shall mean the date immediately prior to the date of such termination of employment. 
  
 h. For purposes of this Agreement, “Person” means an individual, a partnership, a limited liability
company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 
  
 i. For purposes of this Agreement, “Subsidiary” means
any corporation of which Employer owns securities having a majority of the ordinary voting power in electing the board of directors directly or through one or more subsidiaries. 
  
 j. For the purposes of this Agreement, a “Change of Control” shall mean: 
  
 (i) The acquisition by any individual, entity or group (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”), other than Golder, Thoma, Cressey, Rauner Fund IV, L.P. and its Affiliates, of beneficial ownership
(within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either (A) the then-outstanding shares of common stock of Global (the “Outstanding Global Common Stock”) or (B) the combined voting power of the
then-outstanding voting securities of Global entitled to vote generally in the election of directors (the “Outstanding Global Voting Securities”); provided, however, that for purposes of this subsection (i), the following
acquisitions shall not constitute a Change of Control: (A) any acquisition directly from Global approved by the Board of Directors of Global (the “Global Board”), (B) any acquisition by Global, (C) any acquisition by any employee
benefit plan (or related trust) sponsored or maintained by Global or any corporation controlled by Global, or (D) any acquisition by any corporation pursuant to a transaction which complies with clauses (A), (B) and (C) of subsection (iii) of this
Section 5(j); or 
  

 7 

 (ii) Individuals who, as of the date hereof, constitute the Global Board (the “Incumbent
Global Board”) cease for any reason to constitute at least a majority of the Global Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by Global’s
stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Global Board shall be considered as though such individual were a member of the Incumbent Global Board, but excluding, for this purpose, any
such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf
of a Person other than the Global Board; or 
  
 (iii)
Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of Global (a “Business Combination”), in each case, unless, following such Business Combination,
(A) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Global Common Stock and Outstanding Global Voting Securities immediately prior to such Business Combination beneficially
own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors, as the case may
be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns Global or all or substantially all of Global’s assets either directly or through one or
more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Global Common Stock and Outstanding Global Voting Securities, as the case may be, (B) no Person (excluding
any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of Global or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 50% or more of, respectively,
the then-outstanding shares of common stock of the corporation resulting from such Business Combination, or the combined voting power of the then-outstanding voting securities of such corporation except to the extent that such ownership existed
prior to the Business Combination or (C) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Global Board at the time of the execution of the initial
agreement, or of the action of the Global Board, providing for such Business Combination; or 
  
 (iv) Approval by the stockholders of Global of a complete liquidation or dissolution of Global. 
  
 6. No Breach of Agreement. Executive represents and warrants that as of the date hereof Executive is not a party to any other agreement of
employment or any other form of engagement including, without limitation, a consulting agreement, whether written or oral, and that none of the terms and provisions set forth herein or Executive’s performance hereunder will cause Executive to
breach any other agreement, understanding, covenant or representation with or made to a third-party, whether oral or in writing. 
  

 8 

 7. Governing Law. The construction and interpretation of this Agreement shall at all times
and in all respects be governed by the laws of the State of Florida without regard to its rules of conflicts of laws. Any claim, complaint, or action brought under this Agreement shall be brought in a court of competent jurisdiction in the State of
Florida, whose courts shall have exclusive jurisdiction over claims, complaints, or actions brought under this Agreement, and Employer and Executive hereby agree and submit to the personal jurisdiction and venue thereof. 
  
 8. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. 
  
 9. Breach or Violation. Executive acknowledges that any breach
of Sections 3(e) and 4 of this Agreement would cause Employer substantial irreparable injury. Executive agrees that in the event of any violation of Sections 3(e) and 4 of this Agreement, in addition to any damages
allowed by law, Employer shall be entitled to injunctive and/or other equitable relief. 
  
 10. Notices. Any notice required to be given hereunder shall be sufficient if in writing, and sent by courier service (with proof of service), facsimile transmission, hand delivery or certified or
registered mail (return receipt requested and first-class postage prepaid), to his residence, in the case of Executive, as shown on the records of Employer, and to its principal office, in the case of Employer. Either party to this Agreement may
change the address to which notices and other communications hereunder are to be delivered by giving the other party written notice of such change in the manner set forth herein. 
  
 11. Counterparts; Facsimile Transmission. This Agreement may be executed on separate counterparts, each of
which is deemed to be an original and all of which taken together constitute one and the same agreement. Signatures transmitted by facsimile shall be binding as evidence of each party’s agreement to be bound by the terms of this Agreement.

  
 12. Burden and Benefit. This Agreement shall be
binding upon, and shall inure to the benefit of, Employer and Executive, and their respective heirs, personal and legal representatives, successors and permitted assigns. This Agreement may not be assigned by either party without the prior written
consent of the other party. 
  
 13. Severability.
The provisions of this Agreement shall be deemed severable, and the invalidity or unenforceability of any one or more of the provisions hereof shall not affect the validity or enforceability of the other provisions of this Agreement. 
  
 14. Employer. As used herein the term
“Employer” shall include any corporation or other entity which is at any time the parent, a subsidiary or affiliate of Employer. 
  
 15. Entire Agreement; Amendment. This Agreement contains the entire agreement and understanding by and between Employer and Executive with
respect to the subject matter hereof, include any employment agreement previously entered into by the Executive and Employer, and no representations, promises, agreements or understandings, written or oral, not contained herein shall be of any force
or effect. No change or modification hereof shall be valid or binding unless the same is in writing and signed by both Employer and Executive. 
  

 9 

 16. Waiver. Failure to insist upon strict compliance with any term, covenant, or condition
of this Agreement shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of any right or power under this Agreement at any time or times be deemed a waiver or relinquishment of such right or power
at any other time or times. 
  
 17. Headings.
Headings of the paragraphs and subparagraphs of this Agreement are for the convenience of the parties only, and shall be given no substantive or interpretative effect whatsoever. 
  
 [THIS SPACE INTENTIONALLY LEFT BLANK] 
  

 10 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement effective for all
purposes and in all respects as of the day and year first above written. 
  

			
	EMPLOYER:
	
	Global Imaging Systems, Inc.
		
	 By:
	 	 /s/Thomas S. Johnson

	 Name:
	 	 Thomas S. Johnson

	 Title:
	 	 Chairman and CEO

	
	EXECUTIVE:
	
	 /s/Lawrence Paine

	 Lawrence Paine

  

 11

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