Document:

<PAGE>

                                                                   Exhibit 10.14

August 30, 2001

Chris Simpson
11635 Log Jump Trail
Ellicott City, MD 21042-1536

Dear Chris:

It is a distinct pleasure to offer you the position of Sr. Vice President,
Sales, Marketing and Service with Avici Systems Inc. (the "Company" or "Avici").
In this capacity you will report to Steve Kaufman, President and CEO. Your
starting bi-weekly base salary will be $8,656.00, which annualized is
$225,056.00.

You will also be eligible for a sales incentive of $250,000 annually, at target,
payable in quarterly installments. Twenty-five percent (25%) of this target
amount will be tied to specific corporate objectives and the remaining
seventy-five percent (75%) will be based on sales quota. There will be no cap on
the sales incentive plan. For the first quarter, you will receive a
non-recoverable draw against quota equal to 100% of target or $62,500.00 per
quarter (prorated based on your date of hire for partial months). For any
quarters beyond, incentives paid will be based on attaining sales quota, equal
to $62,500/quarter at one-hundred (100%) of quota.

Therefore, your total targeted compensation will be $475,056.00 during your
first year of employment comprised of $225,056.00 in base salary, and
$250,000.00 in the targeted sales incentive.

In addition, you will be granted an option in the amount of 275,000 shares of
the Company's common stock. The option to purchase this stock is subject to the
terms and conditions of the Company's 2000 Stock Option and Incentive Plan and
will be approved at the next Board of Directors meeting. The price per share
will be based on the option price as of your first day of employment. The stock
will vest over four years on a per month basis of 2.0833%.

In the event of a change of control of the Company, you will receive accelerated
vesting of 50% of all remaining unvested options. Further, if due to a change of
control, you are terminated without cause or have a significant reduction in
responsibility, position, or compensation, (i) all remaining unvested options
would become fully vested and (ii) your option would terminate one year
following such termination and/or significant reduction in responsibility,
position, or compensation.

If in the event of a change of control of Avici you are terminated without
cause, or have a reduction in responsibility, position, or compensation in
connection with a change in control of Avici, you will receive twelve-months
continuation of salary and benefits to be paid out in accordance with Avici's
payroll cycle.

Avici also agrees to pay actual and reasonable temporary living expenses, up to
$3,500 per month, for your stay in the Massachusetts area during your first
twelve months of employment. This expense will be direct billed to the Company.
If you decide to relocate to the Massachusetts area, Avici will reimburse you
for your relocation for actual and reasonable expenses and tax liabilities up to
an agreed upon amount to be decided at that time. If after one year, you decide
not to relocate to MA we will discuss continuing reasonable temporary living for
an additional year.

<PAGE>

The Company strives to offer a competitive employee benefit program. Your
participation in this program will be subject to the standard eligibility
requirements for all Avici employees. Avici's benefits are described in a
document called "Avici's 2000 Benefits Summary for Full-Time Employees," a copy
of which is enclosed. Avici's current program includes vacation (accrued 15
days) and holidays (10 days). Avici will offer a medical insurance plan of Blue
Cross, Blue Shield PPO for remote employees. Avici also offers a Delta Dental
plan, a Fidelity 401(k) program, a pre-tax medical and dependent care program,
life insurance, supplemental life insurance, short and long-term disability
benefits. Please note that Avici reserves the right to change, modify or
discontinue any of its current benefits plans, providers and policies in the
future.

Please plan on arriving at Avici's front lobby at 8:30 a.m. on your first day of
employment. Your manager will be available at this time to assist you with your
initial introduction and assimilation to Avici. Benefits orientation will begin
promptly at 9:00 a.m.

In accordance with federal law, you will be asked to provide documentation
proving your eligibility to work in the United States. Please bring proper
documentation on your first day of work. This can be a U.S. Passport or a
driver's license and birth certificate/social security card.

Please confirm your acceptance of this employment offer by signing one copy of
this letter, which will indicate your acceptance of our offer as well as your
anticipated start date and return it to me.

Please understand that this offer does not constitute a contract of employment
for any particular period or a guarantee of continued employment. Our
relationship is one of voluntary employment, "at will". While we hope our
relationship will be mutually beneficial, it should be recognized that you will
retain your right to terminate your employment at any time for any reason and
that Avici will retain the same right. In accepting this offer, you represent
that you have not relied upon any agreements or representations, written or
oral, express or implied, with respect to your employment that are not expressly
set forth in this letter.

Employment with Avici is subject to your signing the Invention, Non-disclosure
and Non-Compete Agreement. Note that this Agreement is enclosed for your review
prior to accepting this offer.

This offer expires as of the close of business on August 31, 2001. This offer
supercedes all prior offers, both verbal and written.

Chris, we are very pleased by the prospect of your addition to the Avici team
and we are sure that you will play an important role in the future success of
the Company.

Sincerely,

/s/ Diane Brown

Diane Brown
Director, Human Resources
Avici Systems Inc.

I have carefully reviewed this offer of employment and agree that it sets forth
the entire understanding between the Company and me. I also understand that my
employment at the Company is "at-will" which means that either the Company or I
can terminate the employment relationship at any time.

Accepted by:       /s/ Chris Simpson           Date:          9/5/01
                   -------------------------         ---------------------------

Start Date:        October 1, 2001
                   -------------------------

<PAGE>

Enclosures:                2001 Benefits Summary
                           Invention, Non-disclosure and Non-Compete Agreement
                           I-9 Form
                           Avici Medical Plan Comparison
                           Dental Plan
                           ESPP Stock Plan
                           Stock Options and Incentive PlanRPFINANCIAL, LC.

Financial Services Industry Consultants

January 10, 2002

Board of Directors

Branch County Federal Savings and Loan Association

375 N. Willowbrook Road

Coldwater, Michigan  49036

Dear Members of the Board:

              This letter sets forth the agreement between Branch County Federal Savings and Loan
Association, Coldwater, Michigan ("Branch County Federal" or the "Association"), and RP
Financial, LC. ("RP Financial") for the independent appraisal services pertaining to the mutual-to-stock conversion transaction, whereby the Association will become a wholly-owned subsidiary
of a stock holding company.  The specific appraisal services to be rendered by RP Financial are
described below.  These appraisal services will be managed by one of RP Financial's Managing
Directors and one or two Senior Vice Presidents.  

Description of Conversion Appraisal Services

              Prior to preparing the valuation report, RP Financial will conduct a financial due
diligence, including on-site interviews of senior management and reviews of financial and other
documents and records, to gain insight into the Association's operations, financial condition,
profitability, market area, risks and various internal and external factors which impact the pro
forma market value of the Association.  RP Financial will prepare a written detailed valuation
report of the Association which will be fully consistent with applicable regulatory guidelines and
standard pro forma valuation practices.  The appraisal report will include an in-depth analysis of
the Association's financial condition and operating results, as well as an assessment of the
Association's interest rate risk, credit risk and liquidity risk.  The appraisal report will describe
the Association's business strategies, market area, prospects for the future and the intended use
of proceeds both in the short term and over the longer term.  A peer group analysis relative to
publicly-traded savings institutions will be conducted for the purpose of determining appropriate
valuation adjustments relative to the group.  We will review pertinent sections of the applications
and conversion documents to obtain necessary data and information for the appraisal, including
the impact of key deal elements on the appraised value, such as dividend policy, use of proceeds
and reinvestment rate, tax rate, conversion expenses and characteristics of stock plans.  The
appraisal report will conclude with a midpoint pro forma value which will establish the range of
value.  The appraisal report may be periodically updated throughout the conversion process if
appropriate, and there will be at least one updated valuation prepared at the time of the closing of
the conversion.

	Washington Headquarters	
	Rosslyn Center	Telephone: (703) 528-1700
	1700 North Moore Street, Suite 2210	Fax No.: (703) 528-1788
	Arlington, VA 22209	Toll-Free No.: (866) 723-0594
	www.rpfinancial.com	E-Mail: mail@rpfinancial.com

Next Page

Board of Directors

January 10, 2002

Page 2

RP Financial agrees to deliver the valuation appraisal and subsequent updates, in writing, to the
Association at the above address in conjunction with the filing of the regulatory application.
Subsequent updates will be filed promptly as certain events occur which would warrant the
preparation and filing of such valuation updates.  Further, RP Financial agrees to perform such
other services as are necessary or required in connection with the regulatory review of the
appraisal and respond to the regulatory comments, if any, regarding the valuation appraisal and
subsequent updates.

Fee Structure and Payment Schedule

              Branch County Federal agrees to pay RP Financial a fixed fee of $20,000 for these
appraisal services, plus reimbursable expenses.  Payment of these fees shall be made according to
the following schedule:
	$3,500 upon execution of the letter of agreement engaging RP Financial's
appraisal services;
 
	$14,000 upon delivery of the completed original appraisal report; and
 
	$2,500 upon completion of the conversion to cover all subsequent
valuation updates that may be required, provided that the transaction is not
delayed for reasons described below.

              The Association will reimburse RP Financial for out-of-pocket expenses incurred in
preparation of the valuation.  Such out-of-pocket expenses will likely include travel, printing,
telephone, facsimile, shipping, computer and data services.  RP Financial will agree to limit
reimbursable expenses in connection with this engagement and in connection with the
preparation of a regulatory business plan as described in the accompanying letter, subject to
written authorization from the Association to exceed such level.

              In the event Branch County Federal shall, for any reason, discontinue the proposed
conversion prior to delivery of the completed documents set forth above and payment of the
respective progress payment fees, Branch County Federal agrees to compensate RP Financial
according to RP Financial's standard billing rates for consulting services based on accumulated
and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full
credit to the initial retainer fee.  RP Financial's standard billing rates range from $75 per hour for
research associates to $250 per hour for managing directors.  

              If during the course of the proposed transaction, unforeseen events occur so as to
materially change the nature or the work content of the services described in this contract, the
terms of said contract shall be subject to renegotiation by Branch County Federal and RP
Financial.  Such unforeseen events shall include, but not be limited to, major changes in the
conversion regulations, appraisal guidelines or processing procedures as they relate to appraisals,

Next Page

Board of Directors

January 10, 2002

Page 3

major changes in management or procedures, operating policies or philosophies, and excessive
delays or suspension of processing of conversion applications by the regulators such that
completion of the transaction requires the preparation by RP Financial of a new appraisal or
financial projections.

Representations and Warranties

              Branch County Federal and RP Financial agree to the following:

              1.       The Association agrees to make available or to supply to RP Financial such
information with respect to its business and financial condition as RP Financial may reasonably
request in order to provide the aforesaid valuation.  Such information heretofore or hereafter
supplied or made available to RP Financial shall include:  annual financial statements, periodic
regulatory filings and material agreements, debt instruments, off balance sheet assets or
liabilities, commitments and contingencies, unrealized gains or losses and corporate books and
records.  All information provided by the Association to RP Financial shall remain strictly
confidential (unless such information is otherwise made available to the public), and if the
conversion are not consummated or the services of RP Financial are terminated hereunder, RP
Financial shall upon request promptly return to the Association the original and any copies of
such information.

              2.       The Association hereby represents and warrants to RP Financial that any
information provided to RP Financial does not and will not, to the best of the Association's
knowledge, at the times it is provided to RP Financial, contain any untrue statement of a material
fact or fail to state a material fact necessary to make the statements therein not false or
misleading in light of the circumstances under which they were made.

              3.       (a)       The Association agrees that it will indemnify and hold harmless RP
Financial, any affiliates of RP Financial, the respective directors, officers, agents and employees
of RP Financial or their successors and assigns who act for or on behalf of RP Financial in
connection with the services called for under this agreement (hereinafter referred to as "RP
Financial"), from and against any and all losses, claims, damages and liabilities (including, but
not limited to, all losses and expenses in connection with claims under the federal securities
laws) attributable to (i) any untrue statement or alleged untrue statement of a material fact
contained in the financial statements or other information furnished or otherwise provided by the
Association to RP Financial, either orally or in writing; (ii) the omission or alleged omission of a
material fact from the financial statements or other information furnished or otherwise made
available by the Association to RP Financial; or (iii) any action or omission to act by the
Association, or the Association's respective officers, Directors, employees or agents which action
or omission is willful or negligent.  The Association will be under no obligation to indemnify RP
Financial hereunder if a court determines that RP Financial was negligent or acted in bad faith
with respect to any actions or omissions of RP Financial related to a matter for which
indemnification is sought hereunder.  Any time devoted by employees of RP Financial to
situations for which indemnification is provided hereunder, shall be an indemnifiable cost
payable by the Association at the normal hourly professional rate chargeable by such employee.  

Next Page

Board of Directors

January 10, 2002

Page 4

                 (b)       RP Financial shall give written notice to the Association of such claim or
facts within thirty days of the assertion of any claim or discovery of material facts upon which
RP Financial intends to base a claim for indemnification hereunder.  In the event the Association
elects, within ten business days of the receipt of the original notice thereof, to contest such claim
by written notice to RP Financial, RP Financial will be entitled to be paid any amounts payable
by the Association hereunder within five days after the final determination of such contest either
by written acknowledgement of the Association or a final judgment (including all appeals
therefrom) of a court of competent jurisdiction.  If the Association does not so elect, RP
Financial shall be paid promptly and in any event within thirty days after receipt by the
Association of the notice of the claim.  

                 (c)       The Association shall pay for or reimburse the reasonable expenses,
including attorneys' fees, incurred by RP Financial in advance of the final disposition of any
proceeding within thirty days of the receipt of such request if RP Financial furnishes the
Association:  (1) a written statement of RP Financial's good faith belief that it is entitled to
indemnification hereunder; and (2) a written undertaking to repay the advance if it ultimately is
determined in a final adjudication of such proceeding that it or he is not entitled to such
indemnification.  The Association may assume the defense of any claim (as to which notice is
given in accordance with 3(b)) with counsel reasonably satisfactory to RP Financial, and after
notice from the Association to RP Financial of its election to assume the defense thereof, the
Association will not be liable to RP Financial for any legal or other expenses subsequently
incurred by RP Financial (other than reasonable costs of investigation and assistance in discovery
and document production matters).  Notwithstanding the foregoing, RP Financial shall have the
right to employ their own counsel in any action or proceeding if RP Financial shall have
concluded that a conflict of interest exists between the Association and RP Financial which
would materially impact the effective representation of RP Financial.  In the event that RP
Financial concludes that a conflict of interest exists, RP Financial shall have the right to select
counsel reasonably satisfactory to the Association which will represent RP Financial in any such
action or proceeding and the Association shall reimburse RP Financial for the reasonable legal
fees and expenses of such counsel and other expenses reasonably incurred by RP Financial.  In
no event shall the Association be liable for the fees and expenses of more than one counsel,
separate from its own counsel, for all indemnified parties in connection with any one action or
separate but similar or related actions in the same jurisdiction arising out of the same allegations
or circumstances.  The Association will not be liable under the foregoing indemnification
provision in respect of any compromise or settlement of any action or proceeding made without
its consent, which consent shall not be unreasonably withheld.  

                 (d)       In the event the Association does not pay any indemnified loss or make
advance reimbursements of expenses in accordance with the terms of this agreement, RP
Financial shall have all remedies available at law or in equity to enforce such obligation.  

              It is understood that, in connection with RP Financial's above-mentioned engagement,
RP Financial may also be engaged to act for the Association in one or more additional capacities,
and that the terms of the original engagement may be incorporated by reference in one or more
separate agreements.  The provisions of Paragraph 3 herein shall apply to the original

Next Page

Board ofDirectors

January 10, 2002

Page 5

engagement, any such additional engagement, any modification of the original engagement or
such additional engagement and shall remain in full force and effect following the completion or
termination of RP Financial's engagement(s).  This agreement constitutes the entire
understanding of the Association and RP Financial concerning the subject matter addressed
herein, and such contract shall be governed and construed in accordance with the laws of the
State of Michigan.  This agreement may not be modified, supplemented or amended except by
written agreement executed by both parties.  

              Branch County Federal and RP Financial are not affiliated, and neither Branch County Federal
nor RP Financial has an economic interest in, or is held in common with, the other and has not
derived a significant portion of its gross revenues, receipts or net income for any period from
transactions with the other.

*  *  *  *  *  *  *  *  *  *  *

              Please acknowledge your agreement to the foregoing by signing as indicated below and returning
to RP Financial a signed copy of this letter, together with the initial retainer fee of $3,500.

			Sincerely,

 

 
	  		
	  		
	  		
			/s/ William E. Pommerening
William E. Pommerening

CEO and Managing Director

 

 
	  		
	Agreed To 
and Accepted By:	John R. Schroll

President and Chief Executive Officer	
 /s/ John R. Schroll

	 	
	Upon Authorization by the Board of Directors For:

Branch County Federal Savings and Loan Association, Coldwater, Michigan
	 	
	 	
	Date Executed:   January 31, 2002

End.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00035-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00035-of-00352.parquet"}]]