Document:

Form of Performance-based Restricted Stock Unit Agreement

 Exhibit 10.1 
 TIBCO SOFTWARE INC. 
 NOTICE OF AWARD OF
PERFORMANCE-BASED RESTRICTED STOCK UNITS 
 Unless otherwise defined herein, the terms defined in the 2008 Equity Incentive
Plan (the “Plan”) will have the same defined meanings in this Notice of Award and in the Terms and Conditions of Restricted Stock Units, attached hereto as Appendix A. 
 TIBCO Software Inc. (the “Company”) hereby grants you,
                     (the “Employee”), an award of Restricted Stock Units, under the Plan. The date of this Performance-Based
Restricted Stock Unit Agreement (the “Agreement”) is February 26, 2010 (the “Grant Date”). Subject to the provisions of the Terms and Conditions of Performance-Based Restricted Stock Units (the “Terms and
Conditions”), which constitute part of this Agreement, and of the Plan, the principle features of this grant are as follows: 
  

			
	Award Number:	  	  

		
	Number of Restricted Stock Units:	  	  

		
	Performance Period:	  	Fiscal Years 2010 through 2013
		
	Conditional Grant:	  	This grant of Restricted Stock Units is conditioned on stockholder approval of an amendment to the Plan, at the annual meeting of the Company stockholders to be held on April 22,
2010, to increase the applicable number of Shares which can be issued pursuant to awards under the Plan (the “Plan Amendment”). In no event may Shares ever be issued under this Agreement prior to stockholder approval of the Plan Amendment.
If stockholders do not approve the Plan Amendment, then this grant of Restricted Stock Units shall be immediately cancelled and forfeited at no cost to the Company and the Employee will have no further rights thereunder.
		
	Vesting of Restricted Stock Units:	  	The Restricted Stock Units are eligible to vest only if certain performance-based goals are achieved (as described below) and certain service-based requirements (as described
below) are met.*
		
		  	Performance Based Vesting Component. The actual number of Restricted Stock Units which will be eligible to vest will be determined based on the Company’s non-GAAP EPS
and cumulative non-GAAP EPS.
		
		  	Non-GAAP EPS will be measured in fiscal years 2012 and 2013. The Company’s cumulative non-GAAP EPS will be measured for three (3) and/or four (4) fiscal years, as described
below, commencing with fiscal year 2010.

			
		  	If (i) for fiscal year 2012, the Company achieves non-GAAP EPS equal to $1.00 or greater and (ii) the Company achieves cumulative non-GAAP EPS over the three (3) fiscal years
2010, 2011 and 2012 equal to $2.40 or greater (together, the “2012 Goals”), one hundred percent (100%) of the Restricted Stock Units subject to this Agreement shall become eligible to vest (any Restricted Stock Units that become eligible
to vest after satisfaction of the applicable non-GAAP EPS goals are referred to herein as the “Eligible RSUs”) after satisfying the additional service-based vesting schedule discussed below.
		
		  	If the Company does not achieve the 2012 Goals, the Restricted Stock Units may still become Eligible RSUs if in fiscal year 2013 the following performance goals are achieved. If
(i) for fiscal year 2013, the Company achieves non-GAAP EPS equal to $1.00 or greater and (ii) the Company achieves cumulative non-GAAP EPS over the four (4) fiscal years 2010, 2011, 2012 and 2013 equal to $3.00 or greater (together, the “2013
Goals”), one hundred percent (100%) of the Restricted Stock Units subject to this Agreement shall become Eligible RSUs that are scheduled to vest after satisfying the additional service-based vesting schedule discussed below.
		
		  	For the avoidance of doubt, if the 2012 Goals are achieved, no additional Restricted Stock Units may become Eligible RSUs upon achievement of 2013 Goals. The Company’s
fiscal year 2012 (if the Company achieves the 2012 Goals) or fiscal year 2013 (if the Company does not achieve the 2012 Goals but achieves the 2013 Goals) will be referred to herein as the “Determination Year”.
		
		  	All determinations regarding performance against the non-GAAP EPS and cumulative non-GAAP EPS calculated in accordance with paragraph 14(c) and whether the 2012 Goals and/or 2013
Goals have been met shall be made by the Committee in its sole discretion and all such determinations shall be final and binding on all parties. Restricted Stock Units, if any, will be deemed to have become Eligible RSUs as of the first date after
which the Audit Committee of the Board has completed and delivered its calculations of non-GAAP EPS to the Committee, and the Committee has then certified in writing as to whether the 2012 Goals or 2013 Goals (as applicable) have been achieved. This
determination shall be made no later than January 31, 2013 with respect to the 2012 Goals, and if applicable, no later than January 31, 2014 with respect to the 2013 Goals.

  

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		  	Service Based Vesting Component. Once the number of Eligible RSUs has been determined pursuant to the performance-based vesting component discussed above, such Eligible
RSUs will be scheduled to vest as to one-half (1/2) of the Eligible RSUs on the one-year anniversary of the date the Restricted Stock Units first became Eligible RSUs, and the remaining one-half (1/2) of the Eligible RSUs shall become vested on the
second-year anniversary of the date the Restricted Stock Units first became Eligible RSUs, provided Employee remains a Service Provider through each applicable vesting date. Such first one-half of the Eligible RSUs that will be scheduled to vest is
referred to herein as the “First Tranche RSUs” and such remaining one-half of the Eligible RSUs that will be scheduled to vest is referred to herein as the “Second Tranche RSUs.”
		
		  	Additional Vesting Terms and Deferred Share Settlement. Notwithstanding the foregoing, even if the performance-based and service-based vesting components have been
satisfied, (i) the settlement of the Restricted Stock Units (e.g., when Shares will be issued in settlement of the vested Restricted Stock Units) will not occur, unless otherwise provided in paragraph 7, until the mandatory deferral date specified
in paragraph 8 of the Terms and Conditions; and (ii) Employee may also forfeit vested Restricted Stock Units prior to the date such Shares are settled depending on the Company’s non-GAAP EPS performance in the fiscal year following the
Determination Year, as set forth in paragraph 4 of the Terms and Conditions.

  

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 IMPORTANT: 
 * Except as otherwise provided in the Terms and Conditions of this Agreement, Employee will not vest in the Restricted Stock Units unless he or she remains
a Service Provider through each applicable vesting date. 
 Your written signature below indicates your agreement and
understanding that this grant is subject to all of the terms and conditions contained in the Terms and Conditions to this Agreement and the Plan. For example, important additional information on vesting and forfeiture of this grant is contained in
paragraphs 4, 5, 6 and 7 of the Terms and Conditions. PLEASE BE SURE TO READ ALL OF THE TERMS AND CONDITIONS OF THIS GRANT. 
 YOU ACKNOWLEDGE AND AGREE THAT IF THE COMPANY STOCKHOLDERS DO NOT APPROVE THE PLAN AMENDMENT THAT THIS RESTRICTED STOCK UNIT AWARD SHALL BE IMMEDIATELY CANCELLED AND FORFEITED AND THAT YOU WILL HAVE NO RIGHTS TO ANY BENEFITS, SHARES OR
OTHER CONSIDERATION HEREUNDER AS A RESULT OF SUCH CANCELLATION AND FORFEITURE. 
 YOUR WRITTEN SIGNATURE BELOW ALSO SHALL
BE CONSIDERED YOUR ACKNOWLEDGEMENT AND AGREEMENT THAT THE TERMS AND CONDITIONS OF THIS RESTRICTED STOCK UNIT AGREEMENT SHALL CONTROL AND BE CONSIDERED AN AMENDMENT TO ANY WRITTEN AGREEMENT BETWEEN YOU AND THE COMPANY, INCLUDING SPECIFICALLY ANY
WRITTEN EMPLOYMENT AGREEMENT, OFFER LETTER, SEVERANCE AGREEMENT OR YOUR PARTICIPATION IN THE COMPANY’S CHANGE IN CONTROL AND SEVERANCE PLAN, SOLELY WITH RESPECT TO THE VESTING OF THESE RESTRICTED STOCK UNITS IN THE EVENT OF YOUR TERMINATION OF
EMPLOYMENT OR A CHANGE OF CONTROL. 
  

	
	  

	[Name]

 Date:
                     
 Please be sure to retain a copy of your signed Agreement; you may obtain a paper copy at any time and at the Company’s expense by requesting one from Shareholder Services (see paragraph 17 of the Terms and Conditions). You must accept
this Agreement by signing a paper copy of the Agreement and delivering it to Shareholder Services. 
  

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 APPENDIX A 
 TERMS AND CONDITIONS OF PERFORMANCE-BASED RESTRICTED STOCK UNITS 
 1. Award. The Company hereby grants to the Employee under the Plan an award of Restricted Stock Units, subject to all of the terms and conditions in this Agreement (including Exhibit A
hereto), the attached Notice of Award and the Plan. If and when any Restricted Stock Units are paid to the Employee, par value for the Shares issued will be deemed paid by the Employee by past services rendered by the Employee. 
 2. Company’s Obligation to Pay. Each Restricted Stock Unit represents a right to receive one Share for each vested Restricted
Stock Unit pursuant to the terms and conditions of this Agreement and the attached Notice of Award. Unless and until the Restricted Stock Units will have vested in the manner set forth in paragraphs 3, 5, 6 and/or 7, and subject to paragraph 4, the
Employee will have no right to payment of any such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units pursuant to paragraph 8, such Restricted Stock Unit will represent an unsecured obligation of the Company,
payable (if at all) only from the general assets of the Company. Payment of any vested Restricted Stock Units will be made in whole Shares only. 
 3. Vesting Schedule. Subject to paragraphs 4 through 7, the Restricted Stock Units awarded by this Agreement and the attached Notice of Award will vest in the Employee according to the
performance-based and service-based vesting set forth on the attached Notice of Award. Restricted Stock Units shall not vest in the Employee in accordance with any of the provisions of this Agreement unless the Employee remains a Service Provider
through the applicable vesting dates, except as otherwise provided in paragraphs 5 through 7. Further, the performance-based and service-based vesting schedules set forth on the attached Notice of Award and paragraphs 5 through 7 shall apply to the
Restricted Stock Units awarded by this Agreement and the attached Notice of Award without regard to any of the terms set forth in any written agreement between Employee and the Company, including specifically any written employment agreement,
severance agreement, offer letter or the TIBCO Software Inc. Change in Control and Severance Plan (the “CICS Plan”). Any acceleration of vesting with respect to the Restricted Stock Units awarded by this Agreement and the attached Notice
of Award shall occur solely in accordance with the terms set forth herein and further any term or condition of any written employment agreement, severance agreement, offer letter or the CICS Plan shall not apply to the vesting acceleration of the
Restricted Stock Units awarded by this Agreement and the attached Notice of Award. 
 4. Forfeiture Due to Subsequent
Non-GAAP EPS Performance. Notwithstanding the performance-based and service-based vesting terms set forth on the attached Notice of Award and paragraph 3, if the Committee determines, after the Audit Committee of the Board has completed and
delivered its calculations of non-GAAP EPS to the Committee, that the Company’s non-GAAP EPS with respect to the first fiscal year immediately following the Determination Year has decreased, as compared to the Company’s non-GAAP EPS
achieved with respect to the Determination Year, by more than ten percent (10%), then twenty percent (20%) of the Restricted Stock Units granted hereunder will be forfeited (the “Forfeited RSUs”) immediately at no cost to the Company
and the Employee will have no further rights thereunder (unless sooner forfeited in accordance with paragraph 5). One-half (1/2) of the Forfeited RSUs will be deemed to have been forfeited with respect to the First Tranche RSUs (i.e., twenty
percent (20%) of the First Tranche RSUs will be deemed forfeited upon such occurrence) and the remaining one-half (1/2) of the Forfeited RSUs will be deemed to have been forfeited with respect to the Second Tranche RSUs (i.e., twenty
percent (20%) of the Second Tranche RSUs will be deemed forfeited upon such occurrence). 

 5. Forfeiture upon Termination of Service; Accelerated Vesting Upon Certain Involuntary
Terminations. Notwithstanding any contrary provision of this Agreement or the attached Notice of Award: 
 (a) In the event
Employee ceases to be a Service Provider for any or no reason during the applicable performance-based vesting period and prior to the Restricted Stock Units becoming Eligible RSUs, or if after the Restricted Stock Units have become Eligible RSUs,
but prior to satisfaction of the service-based vesting requirements, Employee ceases to be a Service Provider due to any or no reason, the then-unvested Restricted Stock Units awarded by this Agreement and the attached Notice of Award will thereupon
be forfeited at no cost to the Company and the Employee will have no further rights thereunder. 
 (b) In the event Employee
ceases to be a Service Provider due to a voluntary termination or an involuntary termination of employment without Cause occurring after the Restricted Stock Units have become Eligible RSUs and after the First Tranche RSUs have vested, but prior to
the mandatory deferral date specified in paragraph 8, then subject to the forfeiture provisions of paragraph 4, the portion of the vested Restricted Stock Units as of such termination date (one-half (1/2) of the Restricted Stock Units subject
to this Agreement) shall remain vested and be settled on the applicable mandatory deferral date specified in paragraph 8. The remaining one-half (1/2) of the Restricted Stock Units subject to this Agreement may become vested as of such a
termination date subject to the approval of the Committee, in its sole discretion, pursuant to paragraph 6. Any such Restricted Stock Units that the Committee does not approve to become vested will be forfeited at no cost to the Company and Employee
will have no further rights thereunder. 
 (c) In the event Employee ceases to be a Service Provider due to a voluntary
termination or an involuntary termination of employment without Cause occurring after the Restricted Stock Units have become Eligible RSUs and after the Second Tranche RSUs have vested, but prior to the mandatory deferral date specified in paragraph
8, then subject to the forfeiture provisions of paragraph 4, the portion of the vested Restricted Stock Units as of such termination date (the remaining one-half (1/2) of the Restricted Stock Units subject to this Agreement) shall remain vested
and be settled on the applicable mandatory deferral date specified in paragraph 8. 
 6. Committee Discretion.
Notwithstanding anything to the contrary in this Agreement and the attached Notice of Award, the Committee, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of: (a) the Eligible RSUs; or
(b) the Restricted Stock Units held by any Employee who is not a “covered employee” as that term is defined in Section 162(m) at any time; subject to the terms of the Plan. If so accelerated, such Restricted Stock Units will be
considered as having vested as of the date specified by the Committee. Notwithstanding the foregoing however, the Shares underlying such vested Restricted Stock Units shall not be settled, unless otherwise provided in paragraph 7, until after the
applicable mandatory deferral date specified in paragraph 8. 
 7. Change of Control. Pursuant to Section 10 of the
Plan, in the event of a Change of Control that occurs: 
 (a) On or before December 31, 2010, then as of the date of such
Change of Control, all of the Restricted Stock Units awarded by this Agreement and the attached Notice of Award will be forfeited at no cost to the Company and the Employee will have no further rights thereunder. 
 (b) After December 31, 2010, but before December 31, 2011, if the Company’s non-GAAP EPS determined as of January 31,
2011 was at least $0.64, then twenty-five percent (25%) of the Restricted Stock Units will be deemed to become Eligible RSUs as of the date of the Change of Control. The remaining seventy-five percent (75%) of the Restricted Stock Units
will be forfeited at no cost to the Company and the Employee will have no further rights thereunder. 
  

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 (c) After December 31, 2011, but before December 31, 2012 (assuming the 2012 Goals
were not achieved), if the Company’s cumulative non-GAAP EPS determined as of January 31, 2012 was at least $1.39, then fifty percent (50%) of the Restricted Stock Units will be deemed to become Eligible RSUs as of the date of the
Change of Control. The remaining fifty percent (50%) of the Restricted Stock Units will be forfeited at no cost to the Company and the Employee will have no further rights thereunder. 
 (d) After December 31, 2012, but before December 2013 (assuming the 2012 Goals and/or the 2013 Goals were not achieved), if the
Company’s cumulative non-GAAP EPS determined as of January 31, 2013 was at least $2.25, then one hundred percent (100%) of the Restricted Stock Units will be deemed to become Eligible RSUs as of the date of the Change of Control.

 (e) The Committee may, in its sole and absolute discretion, provide for additional vesting acceleration in the event of a
Change of Control as provided by paragraph 6. The Company and the acquirer in the Change of Control transaction may also agree in the document reflecting the terms and conditions of the Change of Control to terminate the Eligible RSUs and provide
for immediate payment of the applicable consideration being paid in the Change of Control transaction for the vested Shares underlying the Eligible RSUs as provided by Section 1.409A-3(j)(4)(ix) of the Treasury Regulations. 
 (f) Any Restricted Stock Units that become Eligible RSUs pursuant to this paragraph 7 will be scheduled to vest in accordance with the two
(2) year vesting schedule set forth in the Notice of Award and paragraphs 3, 5 and 6, subject to Employee remaining a Service Provider through each relevant vesting date. For the avoidance of doubt and solely with respect to this paragraph 7,
the forfeiture provisions set forth under paragraph 4 will be disregarded. 
 (g) Notwithstanding the foregoing, if Employee is
involuntarily terminated within twelve (12) months after the date of the Change of Control for any reason other than Cause, one hundred percent (100%) of the Eligible RSUs then currently held by Employee will be vested on the date of such
termination and Shares shall be issued in settlement of such Eligible RSUs as soon as practicable after such termination, but in no event later than five (5) business days, unless Employee is considered to be a “specified employee”
within the meaning of Section 409A of the Code and the settlement of the Shares is required to be delayed as provided by paragraph 8 below. 
 8. Payment after Vesting; Mandatory One-Year Deferral. Restricted Stock Units that vest in accordance with paragraphs 3, 5, 6 or 7 will be settled by the Company issuing whole Shares to Employee
(or in the event of Employee’s death, to his or her estate) on the one (1) year anniversary of each applicable vesting date with respect to the date such Eligible RSUs became vested pursuant to the provisions of this Agreement and the
attached Notice of Award, subject to paragraph 10 and the other provisions of this Agreement. Notwithstanding the foregoing, if Employee is terminated involuntarily after a Change of Control as specified in paragraph 7(g), the mandatory deferral
period shall not apply and the Shares underlying the Eligible RSUs will be issued to Employee as soon as practicable following such termination, but in no event later than five (5) business days, unless (i) the Employee is a
“specified employee” within the meaning of Section 409A at the time of such cessation and (ii) the payment of such accelerated Restricted Stock Units will result in the imposition of additional tax under Section 409A if paid
to the Employee on or within the six (6) month period following the date the Employee ceases to be a Service Provider, then the payment of such accelerated Restricted Stock Units will not be made until the date six (6) months and one
(1) day following the date of such cessation, unless the Employee dies during such six (6) month period, in which case, the Restricted Stock Units will be paid to the Employee’s estate as soon as practicable following his or her
death, subject to paragraph 9. It is the intent of this Agreement to comply with the requirements of Section 409A so that none of the Restricted Stock Units provided under this Agreement or Shares issuable thereunder will be subject to the
additional tax imposed under Section 409A, and any ambiguities herein will

  

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be interpreted to so comply. For purposes of this Agreement, “Section 409A” means Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and any
proposed, temporary or final Treasury Regulations and Internal Revenue Service guidance thereunder, as each may be amended from time to time. 
 9. Payments after Death. Any distribution or delivery to be made to the Employee under this Agreement will, if the Employee is then deceased, be made to the administrator or executor of the
Employee’s estate. Any such administrator or executor must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and
compliance with any laws or regulations pertaining to said transfer. 
 10. Withholding of Taxes. The Company or the
Employer will withhold a portion of the Shares that have an aggregate market value sufficient to pay all Tax Obligations required to be withheld by the Company or the Employer with respect to the Shares, unless the Committee, in its sole discretion,
requires or permits the Employee to make alternate arrangements satisfactory to the Company for such withholdings in advance of the arising of any withholding obligations. The Committee, in its sole discretion and pursuant to such procedures as it
may specify from time to time, may permit the Employee to satisfy his or her Tax Obligations, in whole or in part by one or more of the following (without limitation): (a) paying cash, (b) electing to have the Company withhold otherwise
deliverable Shares having a Fair Market Value equal to the minimum statutory amount required to be withheld, or (c) selling a sufficient number of such Shares otherwise deliverable to Employee through such means as the Company may determine in
its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld. Notwithstanding any contrary provision of this Agreement, no Shares will be issued in settlement of the vested Restricted Stock Units unless and
until satisfactory arrangements (as determined by the Company) will have been made by the Employee with respect to the payment of any income and other taxes which the Company determines must be withheld or collected with respect to such Shares. In
addition and to the maximum extent permitted by law, the Company or the Employer has the right to retain without notice from salary or other amounts payable to the Employee, cash having a sufficient value to satisfy any tax withholding obligations
that the Company determines cannot be satisfied through the withholding of otherwise deliverable Shares. All Tax Obligations related to the award of Restricted Stock Units and any Shares delivered in payment thereof are the sole responsibility of
the Employee. By accepting this award, the Employee expressly consents to the withholding of Shares and to any additional cash withholding as provided for in this paragraph 10. Only whole Shares will be withheld or sold to satisfy any tax
withholding obligations pursuant to this paragraph 10. The number of Shares withheld will be rounded up to the nearest whole Share, with a cash refund to the Employee for any value of the Shares withheld in excess of the tax obligation (pursuant to
such procedures as the Company may specify from time to time). To the extent that the cash refund described in the preceding sentence is not administratively feasible, as determined by the Company in its sole discretion, the number of Shares
withheld will be rounded down to the nearest whole Share and, in accordance with this paragraph 10 and to the maximum extent permitted by law, the Company will retain from salary or other amounts payable to the Employee cash having a sufficient
value to satisfy any additional tax withholding. 
 11. Section 280G. In the event that the acceleration benefits
provided for in paragraph 7 (or pursuant to paragraph 6, if applicable) when combined with any other severance and other benefits otherwise payable to Employee (collectively the “Severance Benefits”), if any, (i) constitute
“parachute payments” within the meaning of Section 280G of the Code and (ii) but for this Agreement, Employee would be subject to the excise tax imposed by Section 4999 of the Code, then Employee’s acceleration benefits
under this Agreement will be either: 
 (a) delivered in full, or 
  

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 (b) delivered as to such lesser extent which would result in no portion of such Severance
Benefits being subject to excise tax under Section 4999 of the Code, 
 whichever of the foregoing amounts, taking into account the
applicable federal, state and local income taxes and the excise tax imposed by Section 4999 of the Code, results in the receipt by Employee on an after-tax basis, of the greatest amount of Severance Benefits, notwithstanding that all or some
portion of such Severance Benefits may be taxable under Section 4999 of the Code. Unless the Company and Employee otherwise agree in writing, any determination required under this paragraph 11 will be made in writing by the Company’s
independent public accountants immediately prior to the Change of Control (the “Accountants”), whose determination will be conclusive and binding upon Employee and the Company for all purposes. For purposes of making the calculations
required by this paragraph 11, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code.
The Company and Employee will furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this paragraph. The Company will bear all costs the Accountants may reasonably
incur in connection with any calculations contemplated by this paragraph 11. 
 12. Rights as Stockholder. Subject to
paragraph 10, neither the Employee nor any person claiming under or through the Employee will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates
representing such Shares will have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (including through electronic delivery to a brokerage account). After such issuance,
recordation and delivery, the Employee will have all the rights of a stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares. 
 13. Dividend Equivalents. Employee shall have no right to the payment of any dividends or distributions until such time as the Shares
have been actually issued to the Employee with respect to the vested Restricted Stock Units after the mandatory deferral period specified in paragraph 8. 
 14. Definitions. For purposes of this Agreement and the attached Notice of Award: 
 (a) “Cause” shall have the meaning set forth in Employee’s written employment agreement with the Company, provided that if Employee is not a party to any such written employment agreement with the Company, “Cause”
shall mean (i) an act of fraud or personal dishonesty undertaken by Employee in connection with the Employee’s responsibilities that is intended to result in substantial gain or personal enrichment of the Employee at the expense of the
Company, (ii) Employee’s conviction of, or plea of nolo contendere to, a felony, (iii) Employee’s gross misconduct in connection with the performance or failure of performance of a material component of the Employee’s
responsibilities that is materially injurious to the Company, or (iv) Employee’s continued substantial violations of his or her duties after the Employee has received a written demand for performance from the Company which specifically
sets forth the factual basis for the Company’s belief that the Employee has not substantially performed such duties. 
 (b)
“Change of Control” shall have the same meaning as provided in Section 2.7 of the Plan, provided, however, that Sections 2.7(iv) and 2.7(v) and of the Plan shall not apply as to the determination of whether a Change of Control has
occurred with respect to paragraph 7 and the Restricted Stock Units granted under this Agreement and the attached Notice of Award. 
 (c) “Non-GAAP EPS” shall mean the Company’s consolidated GAAP net income at the point of measurement adjusted for: (i) stock-based compensation expense; (ii) amortization and impairment of acquired intangible
assets; (iii) acquisition related charges incurred after the issuance of a signed or definitive

  

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term sheet that include third party legal, banker, accounting, other advisory fees and severance costs for terminated employees of the acquired company for employees that are terminated within 90
days of the acquisition date for completed, in process or uncompleted transactions; (iv) fair value deferred revenue adjustments in accordance with business combination standards that are at least five (5) million dollars or greater from
acquisitions (per acquisition); (v) non-cash expenses incurred in connection with the impairment or write-off of goodwill, in-process research and development or any other intangible assets; (vi) costs related to approved restructuring
activities that are separately disclosed in the Company’s GAAP financial statements; (vii) litigation settlements and third party legal expenses associated with litigation settlements; (viii) gains and losses on equity investments;
(ix) other non-recurring extraordinary items that are separately disclosed in the Company’s GAAP financial statements; (x) non cash interest income and expense; (xi) adjustments for changes in the valuation allowance recorded
against the Company’s deferred tax assets in accordance with GAAP; and (xii) the income tax effects of the preceding adjustments; divided by diluted GAAP shares. 
 15. No Effect on Employment. The terms of the Employee’s employment with his or her Employer are governed by applicable local
law and any relevant employment agreement. This Agreement and the attached Notice of Award do not constitute an express or implied promise of continued employment for any period of time. The Employee may terminate his or her employment and the
Employer may terminate the Employee’s employment in accordance with applicable local law and any relevant employment agreement. 
 16. Labor Law. By accepting this award of Restricted Stock Units, the Employee acknowledges that: (a) the award of Restricted Stock Units is a one-time benefit which does not create any contractual or other right to receive
future awards of Restricted Stock Units, or benefits in lieu of Restricted Stock Units; (b) all determinations with respect to any future awards, including, but not limited to, the times when the Restricted Stock Units shall be granted, the
number of Shares subject to each award of Restricted Stock Units and the time or times when Restricted Stock Units shall vest, will be at the sole discretion of the Company; (c) the Employee’s participation in the Plan is voluntary;
(d) the value of this Restricted Stock Units is an extraordinary item of compensation which is outside the scope of the Employee’s employment contract, if any; (e) these Restricted Stock Units are not part of the Employee’s
normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; (f) the vesting of this Restricted
Stock Units ceases upon termination of employment for any reason except as may otherwise be explicitly provided in the Plan or this Agreement; (g) the future value of the underlying Shares is unknown and cannot be predicted with certainty;
(h) these Restricted Stock Units have been granted to the Employee in the Employee’s status as an employee of the Company or the Employer; (i) any claims resulting from these Restricted Stock Units shall be enforceable, if at all,
against the Company; and (j) there shall be no additional obligations for any subsidiary or affiliate employing the Employee as a result of these Restricted Stock Units. 
 17. Address for Notices. Any notice to be given to the Company under the terms of this Agreement and the attached Notice of Award
will be addressed to the Company, in care of Shareholder Services, TIBCO Software Inc., 3303 Hillview Avenue, Palo Alto, California, 94304, or at such other address as the Company may hereafter designate in writing. 
 18. Award is Not Transferable. Restricted Stock Units may not be sold, transferred, pledged, assigned, or otherwise alienated or
hypothecated other than by will, by the laws of descent or distribution, or to a Service Provider’s spouse, former spouse or dependent pursuant to a court-approved domestic relations order which relates to the provision of child, support,
alimony payments or marital property rights. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of Restricted Stock Units, or any right or privilege conferred hereby, or upon any attempted sale under any execution,
attachment or similar process, Restricted Stock Units granted herein and the rights and privileges conferred hereby immediately will become null and void. 
  

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 19. Binding Agreement. Subject to the limitation on the transferability of Restricted
Stock Units contained herein, this Agreement and the attached Notice of Award will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 
 20. Additional Conditions to Issuance of Stock. If at any time the Company will determine, in its discretion, that the listing,
registration or qualification of the Shares upon any securities exchange or under any foreign, state or federal law, or the consent or approval of any governmental regulatory authority is necessary or desirable as a condition to the issuance of
Shares to the Employee (or his or her estate), such issuance will not occur unless and until such listing, registration, qualification, consent or approval will have been effected or obtained free of any conditions not acceptable to the Company. The
Company will make all reasonable efforts to meet the requirements of any such state or federal law or securities exchange and to obtain any such consent or approval of any such governmental authority. 
 21. Plan Governs. This Agreement and the attached Notice of Award are subject to all terms and provisions of the Plan. In the event
of a conflict between one or more provisions of this Agreement and one or more provisions of the Plan, the provisions of the Plan will govern. In the event of a conflict between one or more provisions of the attached Notice of Award and one or more
provisions of the Plan, the provisions of the Plan will govern. 
 22. Committee Authority. The Committee will have the
power to interpret the Plan, this Agreement and the attached Notice of Award and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including,
but not limited to, the determination of whether or not any Restricted Stock Units have vested). All actions taken and all interpretations and determinations made by the Committee in good faith will be final and binding upon the Employee, the
Company and all other interested persons. No member of the Committee will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, this Agreement and the attached Notice of Award. 

23. Captions. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction
of this Agreement. 
 24. Agreement Severable. In the event that any provision in this Agreement or the attached Notice
of Award will be held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Agreement or the attached Notice of Award.

 25. Modifications to the Agreement. This Agreement and the attached Notice of Award constitute the entire
understanding of the parties on the subjects covered. The Employee expressly warrants that he or she is not accepting this Agreement or the attached Notice of Award in reliance on any promises, representations, or inducements other than those
contained herein and therein. Modifications to this Agreement, the attached Notice of Award or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in
the Plan, this Agreement or the attached Notice of Award, the Company reserves the right to revise this Agreement or the attached Notice of Award as it deems necessary or advisable, in its sole discretion and without the consent of the Employee, to
comply with Section 409A or to otherwise avoid imposition of any additional tax or income recognition under Section 409A prior to the actual payment of Shares pursuant to this award of Restricted Stock Units. 
  

 -7- 

 26. Amendment, Suspension or Termination of the Plan. By accepting this Restricted
Stock Unit award, the Employee expressly warrants that he or she has received a conditional right to receive Shares issued under the Plan, and has received, read and understood a description of the Plan. The Employee understands that the Plan is
discretionary in nature and may be modified, suspended or terminated by the Company at any time. 
 27. Electronic
Delivery. The Company may, in its sole discretion, decide to deliver any documents related to Restricted Stock Units awarded under the Plan or future Restricted Stock Units that may be awarded under the Plan by electronic means or request the
Employee’s consent to participate in the Plan by electronic means. The Employee hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and
maintained by the Company or another third party designated by the Company. 
 28. Disclosure of Employee Information. By
accepting this Restricted Stock award, the Employee consents to the collection, use and transfer of personal data as described in this paragraph. The Employee understands that the Company and its Subsidiaries hold certain personal information about
him or her, including his or her name, home address and telephone number, date of birth, social security or identity number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all awards of
Restricted Stock or any other entitlement to shares of stock awarded, canceled, exercised, vested, unvested or outstanding in his or her favor, for the purpose of managing and administering the Plan (“Data”). The Employee further
understands that the Company and/or its Subsidiaries will transfer Data among themselves as necessary for the purpose of implementation, administration and management of his or her participation in the Plan, and that the Company and/or any of its
Subsidiaries may each further transfer Data to any third parties assisting the Company in the implementation, administration and management of the Plan. The Employee understands that these recipients may be located in the European Economic Area, or
elsewhere, such as in the U.S. or Asia. The Employee authorizes the Company to receive, possess, use, retain and transfer the Data in electronic or other form, for the purposes of implementing, administering and managing his or her participation in
the Plan, including any requisite transfer to a broker or other third party with whom he or she may elect to deposit any Shares of stock acquired from this award of Restricted Stock of such Data as may be required for the administration of the Plan
and/or the subsequent holding of Shares of stock on his or her behalf. The Employee understands that he or she may, at any time, view the Data, require any necessary amendments to the Data or withdraw the consent herein in writing by contacting the
Human Resources Department for his or her employer. 
 29. Notice of Governing Law. This Agreement and the attached
Notice of Award shall be governed by the laws of the State of Delaware, U.S.A., without regard to its principles of conflict of laws. For purposes of litigating any dispute that arises under this award of Restricted Stock Units, this Agreement or
the attached Notice of Award, the parties hereby submit to and consent to the jurisdiction of the State of California, and agree that such litigation shall be conducted in the courts of Santa Clara County, California, or the federal courts of the
United States for the Northern District of California, and no other courts where this award of Restricted Stock Units is made and/or to be performed. 
  

 -8-Retention Agreement with James M. Griffin

 Exhibit 10.23 

 

 

  

							
		
	

	  	 December 7, 2005
  
 Mr. James M. Griffin
 Vice President Global
Sales/Service
 BTU International, Inc.
 23 Esquire Rd.
 North Billerica, MA 01862
  
 Dear Jim:
  
 BTU International, Inc. (the “Company”) wants to encourage you to continue your valued association with us as an
executive officer. To that end, the Company is offering you the assurance of severance pay, as described below, in the event that your employment is terminated in specific circumstances. Therefore, the purpose of this letter is to confirm the
agreement between you and the Company on the following terms:
  
 1.      Severance Benefits.
  
 a.        In the event that the Company terminates your employment other
than for Cause (as defined below in Section 2(b)): (i) the Company will continue to pay you your base salary, at the rate in effect on the date of termination, until the earlier of (A) the conclusion of a period equal to six months plus one month
for each year of service, up to a maximum of twelve months, or (B) the date you commence employment that provides you with substantially equivalent base salary and bonus opportunity to the last position you held at the Company (the “Severance
Pay Period”), provided, however, that to the extent any payment under this clause (i) shall be required to be delayed until six months following termination of employment from service to comply with the “specified employee” rules of
Section 409A of the Internal Revenue Code, it shall be delayed (but not more than is required) to comply with such rules, and shall promptly after such delay be paid with interest at a reasonable market rate as determined by the Company; (ii) for
the duration of the Severance Pay Period, subject to any employee contribution applicable to active employees, the Company shall continue to contribute to the premium cost of your participation and that of your eligible dependents in the
Company’s group medical and dental plans, provided that you and your dependents

 are entitled to continue such participation under applicable law and plan terms; and
(iii) provided you work through at least April 1 of the year in which termination occurs, at the time bonuses are payable to executives of the Company generally for the year in which termination occurs, the Company will pay you a pro-rata
portion of the bonus to which you would have been entitled had your employment continued through the end of the year, in its discretion (if any), such pro rata portion to be based upon the number of days you worked prior to termination divided by
233 (the “Pro Rata Bonus”); provided, however, that no payments will be made by the Company pursuant to this Section 1(a) until after the effective date of the Release of Claims described below. 
  

	 	b.	In the event that within one year of a Change in Control (as defined below in Section 2(c)) the Company terminates your employment other than for Cause or you
terminate your employment for Good Reason (as defined below in Section 2(d)): within ten (10) days following the effective date of the Release of Claims described below, the Company will provide you with one lump-sum payment in the amount
representing: (i) twelve (12) months of your base salary at the rate in effect on the date of termination; plus (ii) provided you work through at least April 1 in the year in which termination occurs, the Pro Rata Bonus, which
shall be calculated as if you and the Company met but did not exceed the performance targets for the year in which termination occurs, and shall be based upon the number of days you worked prior to termination divided by 233. In addition, for twelve
(12) months following the date of termination, subject to any employee contribution applicable to active employees, the Company shall continue to contribute to the premium cost of your participation and that of your eligible dependents in the
Company’s group medical and dental plans, provided that you and your dependents are entitled to continue such participation under applicable law and plan terms. For the avoidance of doubt, if the Company terminates your employment other than
for Cause within one year of a Change in Control, payments to you pursuant to this Section 2(b) shall be in lieu of, and not in addition to, payments pursuant to Section 2(a) hereof. To the extent any payment under this paragraph
(b) shall be required to be delayed until six months following termination of employment to comply with the “specified employee” rules of Section 409A of the Internal Revenue Code, it shall be delayed (but not more than is
required) to comply with such rules, and shall promptly after such delay be paid with interest at a reasonable market rate as determined by the Company. 	 

  

 BTU International 

	 	c.	In the event that a Change of Control (as defined below in Section 2(c)) occurs, and (i) you remain employed by the Company on the date that is six
(6) months following the consummation of the Change of Control (the “Eligibility Date”), or (ii) the Company terminates your employment other than for Cause following the Change of Control but prior to the Eligibility Date, the
Company will provide you, within ten (10) days following the Eligibility Date or the effective date of the Release of Claims, as applicable, with either (A) a cash payment in the amount equal to the value of 10,000. shares of the
Company’s common stock, such value to be determined as of the date the Change of Control is consummated, or (B) at the Company’s option, if following the Change of Control the Company is the surviving corporation, 10,000. shares of
the Company’s common stock (the “Retention Bonus”). For the avoidance of doubt, if you terminate your employment for any reason prior to the Eligibility Date, or if the Company terminates your employment for Cause prior to the
Eligibility Date, you will not be eligible for the Retention Bonus or any portion thereof. 

  

	 	d.	In the event your employment is terminated in accordance with Section 1(a) or 1(b) above, and during your employment part of your compensation was earned on a
commission basis: (i) the Company will pay you, at the time such commissions otherwise would have been paid to you had you remained an active employee of the Company, all commission payments that had become due and payable to you prior to the
date of termination but that had not yet been paid to you; and (ii) the Company will pay you, in one lump-sum payment within ten (10) days following the effective date of the Release of Claims described below, an amount representing fifty
percent (50%) of the total commissions that were paid to you for the calendar year prior to the year in which termination occurs. 

  

	2.	Definitions. For the purposes of this Agreement, the following definitions shall apply: 

  

	 	a.	“Affiliates” means all persons and entities directly or indirectly controlling, controlled by or under common control with the Company, where control may be
by either management authority or equity interest. 

  

	 	b.	“Cause” means (i) your material failure to perform (other than by reason of disability) or material negligence in the performance of your duties and
responsibilities for the Company or any of its Affiliates; (ii) commission by you of fraud, embezzlement or theft with respect to the Company or its Affiliates; or (iii) commission by you of any felony or any other crime involving
dishonesty or moral turpitude. 

  

 BTU International 

	 	c.	“Change of Control” means (i) any 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”)), other than the Company or any of its Affiliates or any trustee or other fiduciary holding securities under an employee benefit plan of the Company or one of its Affiliates, becomes a beneficial owner
(within the meaning of Rule 13d-3 as promulgated under the Exchange Act), directly or indirectly, in one or a series of transactions, of securities representing more than fifty percent (50%) of the combined voting power of the Company’s
then outstanding securities; (ii) any merger or consolidation involving the Company (other than a merger of a subsidiary with the Company); or (iii) any sale or other disposition by the Company of all or substantially all of the assets of
the Company other than to one or more of the Company’s Affiliates or any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its Affiliates. 

  

	 	d.	“Good Reason” means (i) the material reduction of your base salary by the Company without your consent (other than a reduction that is corrected within
five business days following receipt of notice from you specifying the nature and amount of the reduction, or a reduction applicable to all Company managerial employees); (ii) the material diminution in the scope of your duties,
responsibilities or authority by the Company without your consent; or (iii) the material failure by the Company to comply with any of the material provisions of this Agreement. 

  

	3.	Release of Claims. In order to be eligible to receive any of the severance pay and benefits under Section 1(a), 1(b), 1(c)(ii) and 1(d)(ii) of this Agreement,
you must execute a release of claims in favor of the Company, substantially in the form attached hereto as Exhibit 1, and you must not timely revoke the release of claims (the “Release of Claims”). 

  

	4.	Confidentiality and Restricted Activities. 

  

	 	a.	You acknowledge that the Company and its Affiliates continually develop Confidential Information, that you may develop Confidential Information for the Company or its
Affiliates and that you may learn of Confidential Information during the course of employment. You will comply with the policies and procedures of the Company and its Affiliates for protecting Confidential Information and shall not disclose to any
Person or use, other than as required by applicable law or for the proper performance of your duties and responsibilities to the Company and its Affiliates, 

  

 BTU International 

	 	    	any Confidential Information obtained by you incident to your employment or other association with the Company or any of its Affiliates. You understand that this
restriction shall continue to apply after your employment terminates, regardless of the reason for such termination. 

  

	 	b.	You acknowledge that in your employment with the Company you will have access to confidential information of the Company and its Affiliates which, if disclosed, would
assist in competition against them and that you will also generate goodwill for the Company and its Affiliates in the course of your employment. Therefore, you agree that the following restrictions on your activities during and after your employment
with the Company are necessary to protect the goodwill, confidential information and other legitimate interests of the Company and its Affiliates: 

  

	 	i.	While you are employed by the Company and for the period of twelve (12) months after your employment terminates, you shall not, directly or indirectly, own,
manage, operate, control or participate in any manner in the ownership, management, operation or control of, or be connected as an officer, employee, partner, director, principal, consultant, agent or otherwise with, or have any financial interest
in, or aid or assist anyone else in the conduct of, any business, venture or activity which competes with any Business of the Company or its Affiliates, in the United States or any other geographic area where such Business is being conducted or
actively being planned to be conducted at or prior to the last day of your employment. For the purposes of this Section 4, the Business of the Company and its Affiliates shall include all Products and your undertaking shall encompass all items,
products and services that may be used in substitution for Products. Notwithstanding the foregoing, ownership of not more than five percent of any class of equity security of any publicly held corporation shall not, of itself, constitute a violation
of this Section 4. 

  

	 	ii.	You agree that while you are employed by the Company and during the two years after your employment terminates, you will not hire or attempt to hire any employee of the
Company or any of its Affiliates, assist in such hiring by any Person, encourage any such employee to terminate his or her relationship with the Company or any of its Affiliates, or solicit or encourage any customer or vendor of the Company or any
of its Affiliates to terminate or diminish its relationship with them, or, in the case of a customer, to conduct with any Person any business or activity which such customer conducts or could conduct with the Company or any of its Affiliates.

  

 BTU International 

	 	c.	In signing this Agreement, you give the Company assurance that you have carefully read and considered all the terms and conditions of this Agreement, including the
restraints imposed on you under this Section 4. You agree without reservation that these restraints are necessary for the reasonable and proper protection of the Company and its Affiliates and that each and every one of the restraints is
reasonable in respect to subject matter, length of time and geographic area. You further agree that, were you to breach any of the covenants contained in this Section 4, the damage to the Company and its Affiliates would be irreparable. You
therefore agree that the Company, in addition to any other remedies available to it, shall be entitled to preliminary and permanent injunctive relief against any breach or threatened breach by you of any of those covenants, without having to post
bond. You and the Company further agree that, in the event that any provision of this Section 4 is determined by any court of competent jurisdiction to be unenforceable by reason of its being extended over too great a time, too large a
geographic area or too great a range of activities, that provision shall be deemed to be modified to permit its enforcement to the maximum extent permitted by law. 

  

	5.	Payment Schedule and Withholding. Payments by the Company under this agreement shall be reduced by all taxes and other amounts which the Company is required to
withhold under applicable law and, except as otherwise provided, shall be payable as salary continuation at the Company’s regular payroll periods and in accordance with its regular payroll practices, commencing on the next regular payday
following the date of termination of your employment. 

  

	6.	Not a Contract of Employment. This agreement is not a contract of employment for a definite term and does not otherwise restrict your right, or that of the
Company, to terminate your employment, with or without notice or cause. 

  

	7.	Miscellaneous. 

  

	 	a.	 This is the entire agreement between you and the Company, and replaces all prior communications, agreements and understandings, written or oral, with
respect to termination of your employment and all related matters (provided that all standard form of Company confidentiality, assignment of invention and similar agreements that you have signed shall continue to be in full force and effect). No
modification or amendment of this Agreement

  

 BTU International 

	 	 
shall be valid unless in writing and signed by you and a duly authorized representative of the Company. The headings and captions in this Agreement are for convenience only and in no way define
or describe the scope or content of any provision of this Agreement. This Agreement may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument. This is a
Massachusetts contract and shall be governed and construed in accordance with the laws of the Commonwealth of Massachusetts, without regard to the conflict of laws principles thereof. 

  

	 	b.	Neither you nor the Company may make any assignment of this Agreement or any interest in it, by operation of law or otherwise, without the prior written consent of the
other; provided, however, that in the event that the Company shall hereafter affect a reorganization, consolidate with, or merge into any entity or transfer all or substantially all of its properties or assets to any entity, the Company may (and
will use its reasonable efforts to) assign its rights and obligations under this Agreement to such entity. This Agreement shall inure to the benefit of and be binding upon you and the Company, and each of our representative successors, executors,
administrators, heirs and permitted assigns. 

 If the terms of this Agreement are acceptable to you, please sign, date and return
it to me. At the time you sign and return it, this Agreement will take effect as a legally binding agreement between you and the Company on the basis set forth above. The enclosed copy of this Agreement, which you should also sign and date, is for
your records. 
  

			
	Sincerely,
	
	BTU International, Inc.
		
	By:	 	 /s/ Paul van der Wansem

		 	Paul van der Wansem
		 	Chief Executive Officer

  

	
	 Accepted and agreed:

	
	 /s/ James M. Griffin

	
	 Date: 12/7/05

  

 BTU International 

 Exhibit 1 
 RELEASE OF CLAIMS 
 FOR AND IN CONSIDERATION OF the benefits
to be provided me in connection with the termination of my employment, as set forth in the letter agreement between me and BTU International, Inc. (the “Company”) dated as of
                     (the “Agreement”), which are conditioned on my signing this Release of Claims and to which I am not otherwise
entitled, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, I, on my own behalf and on behalf of my heirs, executors, administrators, beneficiaries, representatives and assigns, and all
others connected with me, hereby release and forever discharge the Company, its subsidiaries and other affiliates and all of their respective past, present and future officers, directors, trustees, shareholders, employees, agents, general and
limited partners, members, managers, joint venturers, representatives, successors and assigns, and all others connected with any of them, both individually and in their official capacities, from any and all causes of action, rights and claims of any
type or description, known or unknown, which I have had in the past, now have, or might now have, through the date of my signing of this Release of Claims, in any way resulting from, arising out of or connected with my employment by the Company or
any of its subsidiaries or other affiliates or the termination of that employment or pursuant to any federal, state or local law, regulation or other requirement (including without limitation Title VII of the Civil Rights Act of 1964, the Age
Discrimination in Employment Act, the Americans with Disabilities Act, and the fair employment practices laws of the state or states in which I have been employed by the Company or any of the subsidiaries or other affiliates, each as amended from
time to time). 
 Excluded from the scope of this Release of Claims is any right of indemnification or contribution that I have pursuant to the
Articles of Incorporation or By-Laws of the Company or any of its subsidiaries or other affiliates. 
 In signing this Release of Claims, I
acknowledge my understanding that I may consider the terms of this Release of Claims for up to twenty-one (21) days the date I receive this Release of Claims. I also acknowledge that I am advised by the Company and its subsidiaries and other
affiliates to seek the advice of an attorney prior to signing this Release of Claims; that I have had sufficient time to consider this Release of Claims and to consult with an attorney, if I wished to do so, or to consult with any other person of my
choosing before signing; and that I am signing this Release of Claims voluntarily and with a full understanding of its terms. 
 I further
acknowledge that, in signing this Release of Claims, I have not relied on any promises or representations, express or implied, that are not set forth expressly in the Agreement. I understand that I may revoke this Release of 
  

 BTU International 

 Claims at any time within seven (7) days of the date of my signing by written notice to the Chief
Executive Officer of the Company and that this Release of Claims will take effect only upon the expiration of such seven-day revocation period and only if I have not timely revoked it. 
 Intending to be legally bound, I have signed this Release of Claims under seal as of the date written below. 
  

			
	 Signature:
                                         
                       

	
	 Name (please print):
                                         
      

	
	 Date Signed:
                                         
                  

  

 BTU International

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