Document:

exv10w15

 

EXHIBIT 10.15

EXE Technologies, Inc.

EMPLOYMENT AGREEMENT

          THIS EMPLOYMENT AGREEMENT (“Agreement”) is made as of the 1st day of
November, 2002 by and between Joe Cowan, a resident of Atlanta, Georgia (the
“Employee”), and EXE Technologies, Inc., a corporation organized and existing
under the laws of the State of Delaware (the “Company”), with its headquarters
in Dallas, Texas.

          WHEREAS, the Company desires to employ the Employee and the Employee
desires to be employed by the Company for a period of time in the future upon
the terms and conditions hereinafter set forth.

          NOW, THEREFORE, in consideration of the mutual covenants and obligations
contained herein, and intending to be legally bound, the parties, subject to
the terms and conditions set forth herein, agree as follows:

     1.     Employment and Term. The Company hereby employs the Employee, and the
Employee hereby accepts employment with the Company for the position detailed
in paragraph 2, for a period of five (5) years from November 6, 2002 (the
“Effective Date”) unless sooner terminated as provided herein (the “Initial
Term”). At the end of the Initial Term, this Agreement shall automatically
renew for successive additional periods of one (1) year (the “Renewal Term”),
unless earlier terminated by either party upon no less than ninety (90) days
prior written notice to the other party prior to the expiration of the Initial
Term or any such Renewal Term. The Initial Term of employment and any Renewal
Term hereunder, subject to the provisions of Section 8 hereof, are hereinafter
referred to as the “Term.” Each twelve-month period running for twelve months
from the Effective Date, or each annual anniversary the Effective Date, as
applicable, shall be referred to herein as an “Annual Period.”

     2.     Position and Duties. During the Term, the Employee shall serve as
President and Chief Executive Officer of the Company. In such capacity, the
Employee, subject to the ultimate control and direction of the Board of
Directors of the Company, shall have and exercise direct charge of and general
supervision over the business and affairs of the Company. In addition, the
Employee shall have such other duties, functions, responsibilities, and
authority as are from time to time delegated to the Employee by the Board of
Directors of the Company, provided that such duties, functions,
responsibilities, and authority are reasonable and customary for a person
serving as President and Chief Executive Officer of an enterprise comparable to
the Company. The Employee shall report and be accountable only to the Board of
Directors of the Company.

     3.     Other Business Activities. During the Term, the Employee shall devote
his full time, skill, and attention and his best efforts to the business and
affairs of the Company to the extent necessary to discharge fully, faithfully
and efficiently the duties and responsibilities delegated and assigned to the
Employee herein or pursuant hereto, except for usual, ordinary, and

 

 

 customary periods of vacation and absence due to illness or other
disability. Nothing in this Agreement prohibits the Employee’s (i) serving as
a director of other entities that are not competitive with the Company, (ii)
involvement in community or charitable activities, or (iii) personal or family
investment-related activities, so long as such activities do not materially and
adversely interfere with the Employee’s duties under this Agreement.

     4.     Compensation and Related Matters. The Company shall pay the Employee,
and the Employee hereby agrees to accept, as compensation for all services
rendered hereunder and for the Employee’s confidentiality intellectual
property covenants and assignments and covenant not to compete as provided for
in Sections 5, 6 and 7, the compensation set forth in this Section 4.

          4.1. Salary. The Company shall pay the Employee an initial base salary of
$400,000.00 per annum (the “Base Salary”). The Base Salary shall be inclusive
of all applicable income, social security and other taxes and charges that are
required by law to be withheld by the Company, are requested to be withheld by
the Employee, and shall be withheld and paid in accordance with the Company’s
normal payroll practice for its similarly situated employees in effect on the
Effective Date. The Base Salary may be increased annually, but not decreased,
by the Compensation Committee of the Board of Directors of the Company in its
discretion. At no time shall Employee’s salary be less than the Base Salary.

          4.2. Bonus Program. During each Annual Period, the Company will pay an
annual cash bonus to the Employee based upon the achievement of criteria,
including financial and other Company performance, to be mutually agreed upon
in writing by the Employee and the Board of Directors. The Employee’s bonus
target will be one hundred percent (100%) of the Employee’s Base Salary. The
Employee’s actual bonus payments will vary depending on the achievement of the
mutually agreed criteria. For the purposes of the annual bonus, the Annual
Period shall begin on January 1, 2003. Employee’s bonus for each Annual Period
will be paid in accordance with the Company’s normal payment practice for
similarly situated employees in effect on the Effective Date, subject to the
provisions of section 8 herein. As consideration for Employee’s acceptance of
employment hereunder, Employee shall be paid an initial bonus in an amount no
less than $78,750 to be paid on or before January 15, 2003. This initial bonus
is in addition to any annual bonus. Employee’s bonus for the first Annual
Period shall not be offset or otherwise affected by the initial bonus recited
herein.

          4.3. Apartment and Car. During the Term, the Company shall provide Employee
with an apartment to use as his residence in Dallas, Texas, (with further
details to be mutually reasonably agreed between the Employee and the Board of
Directors of the Company) and with a car allowance of $1,300 per month for a
car and all related gas, insurance and all other related expenses to be used in
Dallas, Texas.

          4.4. Equity Participation.

               (a) The Employee acknowledges that the Company granted the Employee stock
options (the “Option”) to purchase shares of the Common Stock, par value $.01

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per share, of the Company (“Common Stock”) as listed in the chart below. The
exercise price of the Option is also listed in the chart below. Except as may
otherwise be provided herein, the Option shall vest 20% per year on each of the
first five annual anniversaries of the date of grant.

	 	 	 	 	 	 	 	 	 
	Date of Grant	 	Number of Shares Granted	 	Exercise Price Per Share
	
	 	
	 	

	Effective Date
	 	 	1,500,000	 	 	Effective Date

               (b) The Option shall be subject to and in accordance with the provisions
of the 1997 Stock Option Plan of the Company, as amended (the “Plan”),
previously provided to Employee.

                    (c) Restricted Stock Award.

		
	 	     (i) The Employee shall be entitled to receive two awards of stock
(the “Award”) as follows, in accordance with the following vesting
schedules:

		
	 	     (A) 200,000 shares as follows:

	 	 	 	 	 
	 	 	Number of Shares
	Vesting Date	 	Vesting on the Vesting Date
	
	 	

	January 2, 2003
	 	 	200,000	 

		
	 	     (B) 300,000 shares as follows:

	 	 	 	 	 
	 	 	Number of Shares
	Vesting Date	 	Vesting on the Vesting Date
	
	 	

	November 6, 2003
	 	 	60,000	 
	November 6, 2004
	 	 	60,000	 
	November 6, 2005
	 	 	60,000	 
	November 6, 2006
	 	 	60,000	 
	November 6, 2007
	 	 	60,000	 

          (ii) All of the shares shall initially be “Restricted Shares” and shall be
subject to a right (but not an obligation) of repurchase by Company (the “Right
of Repurchase”). During the time the shares are subject to the Right of
Repurchase, the Employee shall not transfer, assign, encumber or otherwise
dispose of any Restricted Shares, except as provided in the following sentence.
The Employee may transfer Restricted Shares (A) by beneficiary designation,
will or intestate succession or (B) to the Employee’s spouse, children or
grandchildren or to a trust or family limited partnership established by the
Employee for the benefit of the Employee or the Employee’s spouse, children or
grandchildren, provided in either case that the Transferee agrees in writing on
a form prescribed by Company to be bound by all provisions of this Agreement.
If the Employee transfers any Restricted Shares, then this Section 4.4 (c)
shall apply to the Transferee to the same extent as to the Employee.

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          (iii) The Right of Repurchase shall be exercisable only during the 90-day
period following the date when the Employee’s employment terminates.

          (iv) The Employee shall acquire a vested interest in and Company’s Right
of Repurchase shall lapse with respect to the Restricted Shares on the Vesting
Dates shown in clause (i) above. The Right of Repurchase shall lapse with
respect to all remaining Restricted Shares under the circumstances specified in
Sections 8.1, 8.2, 8.4 and 23.

          (v) If Company exercises the Right of Repurchase, it shall pay the
Employee an amount in cash or cash equivalents equal to $0.01 per share, as
adjusted for stock splits and other appropriate adjustments descried in clause
(vii) below, for each of the Restricted Shares being repurchased.

          (vi) The Right of Repurchase shall be exercisable only by written notice
delivered to the Employee prior to the expiration of the 90-day period
specified in clause (iii) above. The notice shall set forth the date on which
the repurchase is to be effected. Such date shall not be more than 30 days
after the date of the notice. The certificate(s) representing the Restricted
Shares to be repurchased shall, prior to the close of business on the date
specified for the repurchase, be delivered to Company properly endorsed for
transfer. Company shall, concurrently with the receipt of such certificate(s),
pay to the Employee the purchase price determined according to clause (v)
above. Payment shall be made in cash. The Right of Repurchase shall terminate
with respect to any Restricted Shares for which it has not been timely
exercised pursuant to this clause (vi).

          (vii) In the event of the declaration of a stock dividend, the declaration
of an extraordinary dividend payable in a form other than stock, a spin-off, a
stock split, an adjustment in conversion ratio, a recapitalization or a similar
transaction affecting Company’s outstanding securities without receipt of
consideration, any new, substituted or additional securities or other property
(including money paid other than as an ordinary cash dividend) that by reason
of such transaction are distributed with respect to any Restricted Shares or
into which such Restricted Shares thereby become convertible shall immediately
be subject to the Right of Repurchase. Appropriate adjustments to reflect the
distribution of such securities or property shall be made to the number and/or
class of the Restricted Shares. After each such transaction, appropriate
adjustments shall also be made to the price per share to be paid upon the
exercise of the Right of Repurchase in order to reflect any change in Company’s
outstanding securities effected without receipt of consideration therefor;
provided, however, that the aggregate purchase price payable for the Restricted
Shares shall remain the same.

          (viii) If Company makes available, at the time and place and in the amount
and form provided in this Agreement, the consideration for the Restricted
Shares to be repurchased in accordance with this Section 4.4, then after such
time the person from whom such Restricted Shares are to be repurchased shall no
longer have any rights as a holder of such Restricted Shares (other than the
right to receive payment of such consideration in accordance with this
Agreement). Such Restricted Shares shall be deemed to have been repurchased in
accordance

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with the applicable provisions hereof, whether or not the certificate(s)
therefor have been delivered as required by this Agreement.

          (ix) The certificate(s) for Restricted Shares shall be deposited in escrow
with Company to be held in accordance with the provisions of this Agreement.
Any new, substituted or additional securities or other property described in
clause (vii) above shall immediately be delivered to Company to be held in
escrow, but only to the extent the Shares are at the time Restricted Shares.
All regular cash dividends on Restricted Shares (or other securities at the
time held in escrow) shall be paid directly to the Employee and shall not be
held in escrow. Restricted Shares, together with any other assets or
securities held in escrow hereunder, shall be (i) surrendered to Company for
repurchase and cancellation upon Company’s exercise of its Right of Repurchase
or (ii) released to the Employee upon the Employee’s request to the extent the
Shares are no longer Restricted Shares (but not more frequently than once every
six months). In any event, all Shares that have vested (and any other vested
assets and securities attributable thereto) shall be released within 90 days
after the Employee’s cessation of Service.

          (x) Subjecting the Shares to a Right of Repurchase may result in adverse
tax consequences that may be avoided or mitigated by filing an election under
Code Section 83(b). Such election may be filed only within 30 days after the
date of purchase. The Employee should consult with the Employee’s tax advisor
to determine the tax consequences of subjecting the Shares to a Right of
Repurchase and the advantages and disadvantages of filing the Code Section
83(b) election. The Employee acknowledges that it is the Employee’s sole
responsibility, and not Company’s, to file a timely election under Code Section
83(b), even if the Employee requests Company or its representatives to make
this filing the Employee’s behalf.

          (xi) All certificates evidencing Restricted Shares shall bear the
following legends:

	 	 	“THE SHARES REPRESENTED HEREBY MAY NOT BE SOLD, ASSIGNED,
TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT
IN COMPLIANCE WITH THE TERMS OF A WRITTEN AGREEMENT BETWEEN
COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE
PREDECESSOR IN INTEREST TO THE SHARES). SUCH AGREEMENT
GRANTS TO COMPANY CERTAIN REPURCHASE RIGHTS UPON TERMINATION
OF SERVICE WITH COMPANY. THE SECRETARY OF COMPANY WILL UPON
WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE
HOLDER HEREOF WITHOUT CHARGE.”

          4.5. Fringe Benefits. During the Term, the Employee shall be entitled to
participate in all employee benefit plans, programs and arrangements that are
generally made available by the Company to its senior executives, including,
without limitation, the Company’s life, long-term disability and health/PPO
plans and the Company’s stock option and other equity

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incentive plans. The Employee agrees to cooperate and participate in any
medical or physical examinations as may be required by any insurance company in
connection with the applications for such life and/or disability insurance
policies. The Employee shall also be entitled to an annual physical at the
expense of the Company, as mutually reasonably agreed, and to additional
reasonable life insurance, with premiums to be paid by the Company, as mutually
reasonably agreed by Employee and the Board of Directors of the Company.

          4.6. Reimbursement of Expenses. The Employee shall be promptly reimbursed for
all items of travel and entertainment and miscellaneous expenses reasonably
incurred by him on behalf of the Company, provided that such expenses are
documented and submitted to the Company in accordance with the reimbursement
policies of the Company.

          4.7. Vacations. During the Term, the Employee shall be entitled to four weeks
of paid vacation each year. The Employee shall also be entitled to all paid
holidays given by the Company to its senior executives. The Employee agrees to
utilize his vacation at such time or times as are (i) consistent with the
proper performance of his duties and responsibilities hereunder and (ii)
mutually convenient for the Company and the Employee.

          4.8. Board Seat. The Employee will be appointed to the Company’s Board of
Directors. So long as the Employee remains an employee of the Company, the
Company agrees to use its best efforts to cause the Employee to be nominated
for election to the Company’s Board of Directors at each annual or special
meeting of the stockholders of the Company at which the general election of
directors of the Company, for the Class of Directors in which Employee then
serves, is to take place and to use its best efforts to cause the Employee to
be so elected to such Board of Directors.

          4.9. Indemnification. The Employee, in any capacity on behalf of the Company
or any of its subsidiaries or affiliates, shall be entitled to exculpation,
indemnification, and advancement of expenses (including attorney’s fees) in
accordance with the Company’s bylaws and to the fullest extent not prohibited
by Delaware or other applicable law. The Employee shall also be entitled to
coverage under each directors’ and officers’ liability insurance policy, if
any, maintained by or on behalf of the Company’s directors and officers.

          4.10. Attorneys’ Fees to Negotiate Agreement. The Company shall pay, or
reimburse Employee for, the reasonable attorneys’ fees and expenses incurred in
connection with the Employee’s negotiation of this Agreement, not to exceed
$3,000, within thirty (30) days after presentation of each invoice from the
Employee’s attorneys.

     5.Confidentiality. The Employee recognizes and acknowledges that the
Proprietary Information (as hereinafter defined) is a valuable, special and
unique asset of the Company. As a result both during the Term and for a
period of three (3) years thereafter, the Employee shall not, without the prior
written consent of the Company, for any reason either directly or indirectly
divulge to any third-party or use for his/her own benefit, or for any purpose
other than the exclusive benefit of the Company, any confidential, proprietary,
business and technical information or trade secrets of the Company or of any
subsidiary or affiliate of the Company (the

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 “Proprietary Information”) revealed, obtained or developed in the course
of his/her employment with the Company. Proprietary Information shall include,
but shall not be limited to: the intangible personal property described in
Section 6(b) hereof; any information relating to methods of production,
manufacture and research; hardware and software configurations, computer codes
or instructions (including source and object code listings, program logic,
algorithms, subroutines, modules or other subparts of computer programs and
related documentation, including program notation), computer inputs and outputs
(regardless of the media on which stored or located) and computer processing
systems, techniques, designs, architecture, and interfaces; the identities of,
the Company’s relationship with, the terms of contracts and agreements with,
the needs and requirements of, and the Company’s course of dealing with, the
Company’s actual and prospective customers, contractors and suppliers; and any
other materials prepared by the Employee in the course of his/her employment by
the Company, or prepared by any other employee or contractor of the Company for
the Company or its customers, (including concepts, layouts, flow charts,
specifications, know-how, user or service manuals, plans, sketches, blueprints,
costs, business studies, business procedures, finances, marketing data,
methods, plans, personnel information, customer and vendor credit information
and any other materials that have not been made available to the general
public). Nothing contained herein shall restrict the Employee’s ability to
make such disclosures (i) during the course of his employment as may be
necessary or appropriate to the effective and efficient discharge of his
duties; (ii) as such disclosures may be required by law; (iii) in accordance
with the prior consent of the Company duly authorized by its Board of
Directors, (iv) or in defense of any claim brought against Employee by the
Company pursuant to section 20. Furthermore, nothing contained herein shall
restrict the Employee from divulging or using for his/her own benefit or for
any other purpose any Proprietary Information that is readily available to the
general public so long as such information did not become available to the
general public as a direct or indirect result of the Employee’s breach of this
Section 5. Failure by the Company to mark any of the Proprietary Information
as confidential or proprietary shall not affect its status as Proprietary
Information under the terms of this Agreement.

     The Company acknowledges that the Employee has extensive knowledge of
electrical engineering, marketing, sales and management (specifically
including, but not limited to, the industrial sector and supply chain software
and its relevant markets) gained though his prior experiences before his
employment with the Company. Nothing in Sections 5 or 6 shall be construed to
waive or otherwise limit the Employee’s ability to utilize his personal
knowledge and experience garnered prior to the Effective Date to his own
benefit in any manner he deems necessary.

     6.     Property.

               (a) All right, title and interest in and to Proprietary Information shall
be and remain the sole and exclusive property of the Company. During the Term,
the Employee shall not remove from the Company’s offices or premises any
documents, records, notebooks, drawings, sketches, program listings, files,
correspondence, reports, memoranda or similar materials of or containing
Proprietary Information, or other materials or property of any kind belonging
to the Company unless necessary or appropriate for the performance of his
duties and

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responsibilities and, in the event that such materials or property are removed,
all of the foregoing shall be returned to their proper files or places of
safekeeping as promptly as possible after the removal shall serve its specific
purpose. The Employee shall not make, retain, remove and/or distribute any
copies of any of the foregoing for any reason whatsoever, except as may be
necessary in the discharge of the assigned duties, and shall not divulge to any
third person the nature of and/or contents of any of the foregoing or of any
other oral or written information to which he may have access or with which for
any reason he may become familiar, except as disclosure shall be necessary in
the performance of his duties; and upon the earlier of (i) a request by the
Company or (ii) the termination of his employment with the Company, he shall
return to the Company all originals and copies of the foregoing then in the
possession, whether prepared by the Employee or by others.

               (b) (i) The Employee acknowledges that all right, title and interest in
and to any and all writings, documents, inventions, improvements, discoveries,
methods, developments, works of authorship, computer programs or instructions
(whether in source code, object code, or any other form and whether patentable
or not), algorithms, formulae, plans, memoranda, tests, research, designs,
innovations, systems, analyses, specifications, models, data, diagrams, flow
charts, and/or techniques (whether reduced to written or electronic form or
otherwise) that the Employee creates, makes, conceives, discovers, develops or
reduces to practice, either solely or jointly with any other person, at any
time during the Term, whether during working hours or at the Company’s facility
or at any other time or location, and whether upon the request or suggestion of
the Company or otherwise, and that relate to or are useful in any way in
connection with the business now or hereafter carried on by the Company
(collectively, “Intellectual Work Product”) shall be the sole and exclusive
property of the Company. The Employee shall promptly disclose to the Company
all Intellectual Work Product, and the Employee shall have no claim for
additional compensation for the Intellectual Work Product. In addition, the
Employee hereby waives all claims to moral rights in any Intellectual Work
Product.

                    (ii) The Employee acknowledges that all the Intellectual Work Product
that is copyrightable shall be considered a work made for hire under United
States Copyright Law. To the extent that any copyrightable Intellectual Work
Product may not be considered a work made for hire under the applicable
provisions of the United States Copyright Law, or to the extent that,
notwithstanding the foregoing provisions, the Employee may retain an interest
in any Intellectual Work Product that is not copyrightable, the Employee hereby
irrevocably assigns and transfers to the Company any and all right, title, or
interest that the Employee may have in the Intellectual Work Product under
copyright, patent, trade secret, trademark and other intellectual property
laws, in perpetuity or for the longest period otherwise permitted by law,
without the necessity of further consideration. The Company shall be entitled
to obtain and hold in its own name all copyrights, patents, trade secrets, and
trademarks with respect thereto.

                    (iii) The Employee shall reveal promptly all information relating to the
Intellectual Work Product to an appropriate officer of the Company, cooperate
with the Company and execute such documents as may be necessary or appropriate
(A) in the event that

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the Company desires to seek copyright, patent, trademark or other analogous
protection thereafter relating to the Intellectual Work Product, and when such
protection is obtained, renew and restore the same, or (B) to defend any
opposition proceedings in respect of obtaining and maintaining such copyright,
patent, trademark or other analogous protection.

                    (iv) In the event that the Company is unable after reasonable effort to
secure the Employee’s signature on any of the documents referenced in Section
6(b)(iii) hereof, whether because of the Employee’s physical or mental
incapacity or for any other reason whatsoever, the Employee hereby irrevocably
designates and appoints the Company and its duly authorized officers and agents
as the Employee’s agent and attorney-in-fact, to act for and in his behalf and
stead to execute and file any such documents and to do all other lawfully
permitted acts to further the prosecution and issuance of any such copyright,
patent, trademark or other analogous protection with the same legal force and
effect as if executed by the Employee.

                    (v) The Employee represents that the innovations, designs, systems,
analyses, ideas for marketing programs, and all copyrights patents, trademarks
and trade names, or similar intangible personal property identified below
comprises all of the innovations, designs, systems, analyses, ideas for
marketing programs, and all copyrights, patents, trademarks and trade names, or
similar intangible personal property that the Employee has made or conceived of
prior to the date hereof, and same are excluded from the operation of the other
provisions of this Section 6(b):

None.

     7.     Covenant not to Compete.

          (a) The Employee shall not, anywhere in the world, during the Term and, at
the election of the Company and in consideration of the payments contemplated
in Sections 4 and 8 for a period of one (1) year thereafter (the “Restricted
Period”), do any of the following directly or indirectly without the prior
written consent of the Company in its sole discretion:

               (i) engage or participate, directly or indirectly, in any business
activity, including without limitation those listed in Schedule A, that relates
to providing software for warehouse management, supply chain execution, order
fulfillment, inventory planning or supply chain process management and related
services for warehouse, distribution and related facilities and processes
throughout the supply chain (a “Competitive Business”);

               (ii) become interested (as owner, proprietor, promoter, stockholder,
lender, partner, co-venturer, director, officer, employee, agent, consultant or
otherwise) in any person, firm, corporation, association or other entity (A)
that is listed in Schedule A, or (B) is otherwise engaged in any Competitive
Business, or become interested in (as owner, stockholder, lender, partner,
co-venturer, director, officer, employee, agent, consultant or otherwise) any
portion of the business of any person, firm, corporation, association or other
entity where such portion of such business is considered a Competitive
Business. This limitation

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shall not prevent or preclude Employee from becoming an employee, officer, or
director in a corporation, association, or other entity that has affiliates
engaged in a Competitive Business, so long as Employee is not directly or
indirectly involved in the operation, management, or direction of the
Competitive Business affiliate, including without limitation, by being an
employee, officer or director for any corporation, association or other entity
that has any ownership interest, whether direct or indirect, in a Competitive
Business. The Employee may hold not more than one percent (1%) of the
outstanding securities of any class of any publicly-traded securities of a
company that is engaged in a Competitive Business, excluding those companies
listed in Schedule A. The Employee may also hold securities of any publicly
traded stocks or securities purchased or held directly or indirectly in the
name of the Employee through a group or association of investors in which the
Employee participates but does not control (e.g., mutual funds, blind trusts,
401(k), IRA accounts, independently managed investment accounts, and the
equivalents of the same);

               (iii) solicit or call on for a purpose competitive with the business of
the Company, either directly or indirectly, any (A) customer with whom the
Company shall have dealt at any time during the twelve (12) month period
immediately preceding the termination of the Employee’s employment hereunder,
or (B) supplier or distributor with whom the Company shall have dealt at any
time during the twelve (12) month period immediately preceding the termination
of the Employee’s employment hereunder;

               (iv) influence or attempt to influence any supplier, distributor, customer
or potential customer of the Company to terminate or modify any written or oral
agreement or course of dealing with the Company; or

               (v) influence or attempt to influence any person either (A) to terminate
or modify the employment, consulting, agency, distributorship or other
arrangement with the Company, or (B) to employ or retain, or arrange to have
any other person or entity employ or retain, any person who has been employed
or retained by the Company as an employee, consultant, agent or distributor of
the Company at any time during the twelve month period immediately preceding
the termination of the Employee’s employment hereunder.

          (b) The Employee hereby acknowledges that the limitations as to time,
character or nature and geographic scope placed on his/her subsequent
employment by this Section 7 are reasonable and fair and will not prevent or
materially impair his/her ability to earn a livelihood.

     8.     Early Termination. The Employee’s employment hereunder may be
terminated during the Term upon the occurrence of any one of the events
described in this Section 8. Upon termination, the Employee shall be entitled
only to the compensation and benefits as described in this Section 8.

          8.1. Termination for Disability.

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               (a) In the event of the disability of the Employee such that Employee is
unable to perform the duties and responsibilities hereunder to the full extent
required by this Agreement by reasons of illness, injury or incapacity for a
period that would trigger Employee’s eligibility under the Company’s long-term
disability insurance policy (“Disability”), the Employee’s employment hereunder
may be terminated by the Company upon written notice to the Employee.

               (b) In the event of a termination of the Employee’s employment hereunder
pursuant to Section 8.1(a) and provided that the Employee has complied with all
of his obligations under this Agreement and continues to comply with all of his
surviving obligations hereunder listed in Section 10, the Employee will be
entitled to receive (i) continuation of the Base Salary in effect as of the
termination date for a period of twelve (12) months following the date of
Disability, payable on the Company’s standard payroll cycle; (ii) any earned
but unpaid bonus at the date of termination, payable on the date(s) it
otherwise would have been payable; (iii) full vesting on the date of
termination of all stock options and restricted stock granted under the terms
of the contract, whether or not exercisable or vested on the date of
termination, and the immediate right to exercise all such stock options for a
period of six months after the date of termination; (iv) any amounts payable on
Disability pursuant to any plans or policies of the Company; and (v) any other
amounts due but not yet paid from the Company to Employee.

          8.2. Termination by Death. In the event that the Employee dies during the
Term, the Employee’s employment hereunder shall be terminated thereby and the
Company shall pay to the Employee’s executors, legal representatives or
administrators (i) the Employee’s Base Salary in effect as of the date of death
for a period of twelve (12) months following the date of death, which shall be
payable in a lump-sum thirty (30) days following the date of death; (ii) any
earned but unpaid bonus at the date of termination, payable on the date(s) it
otherwise would have been payable; (iii) full vesting on the date of death of
all stock options and restricted stock granted under the terms of the contract,
whether or not exercisable or vested on the date of death, and the immediate
right to exercise all such stock options for a period of six months after the
date of death; (iv) any amounts payable on death pursuant to any plans or
policies of the Company; and (v) any other amounts due but not yet paid from
the Company to Employee.

          8.3. Termination by the Company for Cause.

               (a) The Company may terminate the Employee’s employment hereunder at any
time for “cause” upon written notice to the Employee. For purposes of this
Agreement, “cause” shall only mean:

                    (i) any material breach by the Employee of any of the Employee’s material
obligations under this Agreement, subject to 30 days’ written notice and a
reasonable opportunity to cure;

                    (ii) willful misconduct or gross negligence by the Employee in connection
with his employment by the Company, subject to 30 days’ written notice and a
reasonable opportunity to cure;

11

 

                     (iii) conviction of, or pleas of guilty or nolo contendere, by the
Employee to any crime constituting a felony, any crime involving moral
turpitude (whether or not a felony), or any other criminal act related to the
Company involving dishonesty or willful misconduct intended to injure the
Company;

                    (iv) habitual alcohol or substance abuse or addiction.

               (b) In the event of a termination of the Employee’s employment hereunder
pursuant to Section 8.3(a), the Employee shall be entitled to receive all
accrued but unpaid (as of the effective date of such termination) Base Salary,
benefits, unreimbursed expenses, and bonuses (if any have been earned). All
Base Salary, benefits and bonuses shall cease at the time of such termination,
subject to the terms of any benefit or compensation plan then in force and
applicable to the Employee. The unvested portion of the Option and of the
restricted stock grant under Section 4.4(c) shall be canceled at the time of
such termination, and the Employee shall be entitled to exercise only such
options which are vested as of the effective date of such termination for three
months after the effective date of termination. Except as specifically set
forth in this Section 8.3, the Company shall have no liability or obligation
hereunder by reason of such termination.

          8.4. Termination by the Company Without Cause.

               (a) The Company may terminate the Employee’s employment hereunder at any
time, for any reason, without cause, effective upon the date designated by the
Company upon thirty (30) days written notice to the Employee.

               (b) In the event of a termination of the Employee’s employment hereunder
pursuant to Section 8.4(a), the Employee shall be entitled to receive (i)
continuation of the Base Salary (in effect as of the date of termination) for
twenty-four months payable on the Company’s standard payroll cycle; (ii) any
earned but unpaid bonus at the date of termination, payable on the date(s) such
payments would have been payable; (iii) full vesting on the date of
termination of all stock options and restricted stock granted under the terms
of the contract, whether or not exercisable or vested on the date of
termination, and the immediate right to exercise all such stock options for six
months after the date of termination; and (iv) any other amounts due but not
yet paid from the Company to Employee.

          8.5 Voluntary Resignation.

          (a) The Employee may voluntarily resign and terminate the Employee’s
employment hereunder at any time, for any reason effective upon the date
designated by the Employee upon one hundred twenty (120) days written notice to
the Company.

          (b) In the event of a resignation or termination of the Employee’s
employment hereunder pursuant to Section 8.5(a), the Employee shall be entitled
to receive all accrued but unpaid (as of the effective date of such
resignation) Base Salary, benefits, unreimbursed

12

 

expenses, and bonuses (if any have been earned). All Base Salary,
benefits and bonuses shall cease at the time of such termination, subject to
the terms of any benefit or compensation plan then in force and applicable to
the Employee. The unvested portion of the Option shall be canceled at the time
of such termination, and the Employee shall be entitled to exercise only such
options which are vested as of the effective date of such termination for three
months after the date of termination. Except as specifically set forth in this
Section 8.5, the Company shall have no liability or obligation hereunder by
reason of such termination.

          8.6 Options; Repurchase of Shares.

          Except as otherwise expressly provided, upon the termination of the
Employee’s employment pursuant to this Section 8 all further vesting on all
stock options and/or restricted stock in the Company held by the Employee shall
immediately cease as of such date and thereafter any vested stock options shall
be exercisable and any restricted stock or other equity securities held by the
Employee shall be subject to repurchase by the Company in accordance with their
respective terms and the terms of any related agreements between the Company
and the Employee.

          8.6. No Mitigation or Offset. The Employee shall not be obligated to seek or
secure new employment or to become self-employed after termination of his
employment with the Company, but shall be obligated to report promptly to the
Company any actual employment obtained during the period for which any benefits
continue. There shall be no offset against any amounts due to Employee under
this Agreement on account of any remuneration or benefits attributable to any
subsequent employment (including, without limitation, any self-employment) that
he may obtain.

     9.     Representations, Warranties and Covenants of the Employee.

               (a) The Employee represents and warrants to the Company that:

                    (i) There are no restrictions, agreements or understandings whatsoever to
which the Employee is a party which would prevent or make unlawful the
Employee’s execution of this Agreement or the Employee’s employment hereunder,
or which is or would be inconsistent or in conflict with this Agreement or the
Employee’s employment hereunder, or would prevent, limit or impair in any way
the performance by the Employee of the obligations hereunder; and

                    (ii) The Employee has disclosed to the Company all restraints,
confidentiality commitments or other employment restrictions that he/she has
with any other employer, person or entity and the Company acknowledges receipt
of a copy of the same.

               (b) Upon and after his termination or cessation of employment with the
Company and until such time as no obligations of the Employee to the Company
hereunder exist, the Employee (i) shall provide a complete copy of this
Agreement to any prospective employer or other person, entity or association in
a Competitive Business, with whom or which

13

 

the Employee proposes to be employed, affiliated, engaged, associated or to
establish any business or remunerative relationship prior to the commencement
thereof and (ii) shall notify the Company of the name and address of any such
person, entity or association prior to the Employee’s employment, affiliation,
engagement, association or the establishment of any business or remunerative
relationship.

     10.     Survival of Provisions. The provisions of this Agreement set forth in
Sections 5 through 22 hereof shall survive the termination of the Employee’s
employment hereunder,

     11.     Successors and Assigns. This Agreement shall inure to the benefit of
and be binding upon the Company and the Employee and their respective
successors, executors, administrators, heirs and/or permitted assigns; provided
that neither the Employee nor the Company may make any assignments of this
Agreement or any interest herein, by operation of law or otherwise, without the
prior written consent of the other parties hereto, except that, without such
consent, the Company may assign this Agreement to any successor to all or
substantially all of its assets and business by means of liquidation,
dissolution, merger, consolidation, transfer of assets, sale of stock, or
otherwise, provided that such successor assumes in writing all of the
obligations of the Company under this Agreement.

     12.     Notice. Any notice hereunder by either party shall be given by
personal delivery or by sending such notice by certified mail, return-receipt
requested, or by overnight delivery with a reputable courier service, or
telecopied, addressed or telecopied, as the case may be, to the other party at
its address set forth below or at such other address designated by notice in
the manner provided in this section. Such notice shall be deemed to have been
received upon the date of actual delivery if personally delivered or, in the
case of mailing, two (2) days after deposit with the U.S. mail, or if by
overnight delivery, the date of delivery or, in the case of facsimile
transmission, when confirmed by the facsimile machine report.

If to the Employee:

	 	 	 
		Mr. Joe Cowan

5212 Legends Drive

Braselton, Georgia 30517	

with a copy to:

	 	 	 
		Mr. Joseph L. Cowan II

London & Yancey, L.L.C.

2001 Park Place North, Ste. 400

Birmingham, Alabama 35203

Facsimile no: (205) 251-8929	

14

 

If to the Company:

	 	 	 
		EXE Technologies, Inc.

8787 Stemmons Freeway

Dallas, TX 75247

Attention: CFO and General Counsel

Fax: 214-775-0912	

     13.     Entire Agreement; Amendments. Except as otherwise provided herein,
this Agreement contains the entire agreement and understanding of the parties
hereto relating to the subject matter hereof, and merges and supersedes all
prior and contemporaneous discussions, agreements and understandings of every
nature between the parties hereto relating to the employment of the Employee
with the Company. This Agreement may not be changed or modified, except by an
agreement in writing signed by each of the parties hereto.

     14.     Waiver. The waiver of the breach of any term or provision of this
Agreement shall not operate as or be construed to be a waiver of any other or
subsequent breach of this Agreement.

     15.     Governing Law. This Agreement shall be construed and enforced in
accordance with the laws of the State of Texas, without regard to the
principles of conflicts of laws of any jurisdiction.

     16.     Invalidity. If any provision of this Agreement shall be determined to
be void, invalid, unenforceable or illegal for any reason, then the validity
and enforceability of all of the remaining provisions hereof shall not be
affected thereby. If any particular provision of this Agreement shall be
adjudicated to be invalid or unenforceable, then such provision shall be deemed
amended to delete therefrom the portion thus adjudicated to be invalid or
unenforceable, such amendment to apply only to the operation of such provision
in the particular jurisdiction in which such adjudication is made; provided
that, if any provision contained in this Agreement shall be adjudicated to be
invalid or unenforceable because such provision is held to be excessively broad
as to duration, geographic scope, activity or subject, then such provision
shall be deemed amended by limiting and reducing it so as to be valid and
enforceable to the maximum extent compatible with the applicable laws of such
jurisdiction, such amendment only to apply with respect to the operation of
such provision in the applicable jurisdiction in which the adjudication is
made.

     17.     Section Headings. The section headings in this Agreement are for
convenience only; they form no part of this Agreement and shall not affect its
interpretation.

     18.     Number of Days. In computing the number of days for purposes of this
Agreement, all days shall be counted, including Saturdays, Sundays and legal
holidays; provided that, if the final day of any time period falls on a
Saturday, Sunday or day which is a legal holiday in Texas, then such final day
shall be deemed to be the next day which is not a Saturday, Sunday or legal
holiday.

15

 

     19.     Arbitration. Except for claims or disputes related to the rights and
obligations of the parties set forth in Sections 5, 6 and 7 hereof, the parties
hereto agree that any controversy or claims arising out of or relating to this
Agreement shall be settled exclusively by arbitration in accordance with the
National Rules for the Resolution of Employment Disputes of the American
Arbitration Association (“AAA”) as then in effect. The parties hereto further
agree that any arbitration proceeding commenced in connection with this
Agreement shall take place in Dallas, Texas under the auspices of the AAA, and
judgment upon the award rendered by the Arbitrator(s) may be entered in any
court having jurisdiction thereof. The prevailing party shall be entitled to
recover, in addition to any other relief, reasonable attorneys’ fees, costs and
disbursements.

     20.     Specific Enforcement. The Employee acknowledges that the restrictions
contained in Sections 5, 6 and 7 hereof are reasonable and necessary to protect
the legitimate interests of the Company and its affiliates and that the Company
would not have entered into this Agreement in the absence of such restrictions.
The Employee also acknowledges that any breach by him of Sections 5, 6 or 7
hereof will cause continuing and irreparable injury to the Company for which
monetary damages would not be an adequate remedy. The Employee shall not, in
any action or proceeding to enforce any of the provisions of this Agreement,
assert the claim or defense that an adequate remedy at law exists. In the
event of breach by the Employee of Sections 5, 6, or 7, the Company shall have
the right to enforce the provisions of Sections 5, 6 and 7 of this Agreement by
seeking injunctive or other relief in any court, and this Agreement shall not
in any way limit remedies of law or in equity otherwise available to the
Company.

     21.     Consent to Suit. Any dispute relating to the rights and obligations
of the parties set forth in Sections 5, 6 and 7 hereof, may only be brought in
the Courts of the State of Texas in and for the County of Dallas or in the
United States District Court for the Northern District of Texas. The Employee
and the Company hereby consent to the jurisdiction and venue of the courts of
the State of Texas in and for the County of Dallas or the United States
District Court for the Northern District of Texas, provided that such Federal
Court has subject matter jurisdiction over such dispute, and the Employee
hereby waives any claim he may have at any time as to forum non conveniens with
respect to such venue. Any judgment entered against either of the parties in
any proceeding hereunder may be entered and enforced by any court of competent
jurisdiction. The prevailing party shall be entitled to recover, in addition to
any other relief, reasonable attorneys’ fees, costs and disbursements.

     22.     Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, and all of which
together shall be deemed to be one and the same instrument.

     23.     Change in Control. In the event of a Change in Control in the
ownership or operation of the Company, the Employee shall be entitled to
payment of an additional sum of two times the Base Salary then in effect, to be
paid only if Employee gives written notice to the Company that he wishes to
trigger this Section on any date beginning with the date that is the first
anniversary of the occurrence of the Change of Control and for thirty (30) days
thereafter.

16

 

The Employee shall be entitled to the payment 30 days after the date of
the notice. This payment shall be in addition to the compensation provided
herein and not utilized to offset in any manner any salary, bonus or other
payment to which Employee is entitled under this Agreement. Further, the
Employee shall be entitled to the acceleration of the vesting of all Options
and restricted stock that have not yet vested as of the date of the Change in
Control, so that on the date of Change in Control all Options and restricted
stock provided herein are fully vested and exercisable. For the purposes of
this section, Change in Control shall mean:

For purposes of this Agreement, the term “Change of Control” shall mean the
occurrence of any event where (a) any person (as such term is used in Sections
13(d) and 14(d) of the Exchange Act), except for the Company’s current
principal stockholders—General Atlantic Partners, Technology Crossover
Ventures or Symphony, or their affiliates, is or becomes the beneficial owner
(as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934,
except that a person shall be deemed to have beneficial ownership of all shares
that any such person has the right to acquire, whether such right is
exercisable immediately or only after the passage of time), directly or
indirectly, of more than 50% of the outstanding shares of common stock of the
Company or securities representing 50% or more of the combined voting power of
the Company’s voting stock, or (b) the Company consolidates with or merges into
another person or any person consolidates with or merges into the Company, in
either event pursuant to a transaction in which the outstanding voting stock of
the Company is changed into or exchanged for cash, securities or other
property, other than any such transaction between the Company and its wholly
owned subsidiaries, with the effect that the Company’s stockholders immediately
before the consummation of such transaction do not continue to be the
beneficial owners, directly or indirectly, more than 50% of the outstanding
shares of common stock of the Company or the surviving entity or securities
representing 50% or more of the combined voting power of the Company’s or the
surviving entity’s voting stock or (c) the Company conveys, transfers, sells or
leases all or substantially all of its assets to any person in a single
transaction or in a series of related transactions.

     IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
on this day and year first written above.

	 	 	 	 	 	 	 
	Approved:	 	EXE TECHNOLOGIES, INC.
	 	 	 	 	 	 	 
	By:	 	 	 	By:	 	 
	 	 	

	 	 	

	 	 	
Steven A. Denning,

	 	Title:	 	 
	 	 	
as the Representative of

the Compensation Committee

of the Board of Directors of

EXE Technologies, Inc.
	 	 	

	 	 	 	 	 	 	 
	 	 	 	 	
JOE COWAN

17

 

Schedule A

High Jump

HK Systems

Manhattan Associates

McHugh Software/Red Prairie

OMI

Optum

Oracle Supply Chain Unit

PeopleSoft Supply Chain Unit

Provia

SAP Supply Chain Unit

TRW/MARC

18exv10w16

 

EXHIBIT 10.16

October 17, 2002

Personal and Confidential

Mr. Ken Powell

4004 Euclid Ave.

Dallas, TX 75205

Dear Ken:

In consideration of the mutual covenants contained in this separation agreement,
you and EXE, including its subsidiaries, agree as follows:

1.     Continuation of Your Employment. Your effective date of termination will be
October 31, 2002. Effective immediately, you will be reasonably available by
telephone as requested by EXE, but you will not report to the office unless
reasonably requested by Ken Vines. Prior to your termination date, you will not
contact any EXE prospects, customers, partners, employees, contractors or
similar persons or incur additional expenses without the prior written approval
of Ken Vines. Subsequent to your termination date, the foregoing activities will
be governed as specified in Section 6 below. In addition, effective October 3,
2002, you no longer have authority to act in any way, including without
limitation by executing documents, on behalf of EXE without the prior written
approval of Ken Vines.

2.     Satisfaction. Other than expenses previously approved in writing by Ken
Vines, you will deliver a final expense report to Ken Vines no later than
October 31, 2002. You acknowledge that, except as expressly set forth in this
separation agreement, you have received in full all amounts owed to you by EXE,
including but not limited to salary, bonus, expense reimbursement or other
payments.

3.     Consideration. EXE will pay you your base salary, in accordance with its
normal payroll practices, through July 31, 2003, less applicable withholding,
and continue your current medical, dental and vision benefits through July 31,
2003, subject to continued deduction by the Company pursuant to normal payroll
practices of your portion of the premiums for such benefits. You will no longer
be eligible for any other benefits other than those specified in the first
sentence of this section after October 31, 2002. The Company will pay you
$3,172.95, less applicable withholding, for your three days of earned but unused
vacation in accordance with normal payroll practices. You are no longer eligible
for bonuses and no further bonuses will be paid to you and you acknowledge that
you will no longer accrue vacation and will not be entitled to payment for any
additional vacation. EXE’s payment of the amounts above is conditioned upon your
execution of this separation agreement and compliance with EXE’s exit
procedures, including completion of EXE’s current employee exit forms.

4.     Mutual Release. You acknowledge that the terms of this separation agreement
are in full satisfaction of all amounts owed to you by EXE. You release and
discharge EXE, together with each and every of its predecessors, successors (by
merger or otherwise), parents, subsidiaries, affiliates, divisions, directors,
officers, employees and agents, whether present or former, from any and all
suits, causes of action, complaints, obligations, demands, or claims of any
kind, which accrued prior to the date hereof

 

 

Ken Powell

October 17, 2002

Page 2

(but not those which may accrue on
or after the date hereof), whether in law or in equity, direct or indirect,
known or unknown, which you ever had or now have against the released parties,
or any one of them, arising out of or relating to any matter, thing or event. By
signing this letter below, EXE hereby releases Ken Powell from any and all
suits, causes of action, complaints, obligations, demands, or claims of any
kind, which accrued prior to the date hereof (but not those which may accrue on
or after the date hereof), whether in law or in equity, direct or indirect,
known or unknown, which it has ever had or now has against Ken Powell, arising
out of or relating to any matter, thing or event.

5.     Acknowledgement. Ken Powell and EXE each understand that the mutual release
provided for in paragraph 4 above extends to all of the aforementioned claims
and potential claims which arose on or before the date of this separation
agreement, whether now known or unknown, suspected or unsuspected, and that this
constitutes an essential term of this separation agreement. Ken Powell and EXE
each further understand and acknowledge the significance and consequence of this
separation agreement and of each specific release and waiver, and each party
expressly consents that this separation agreement will be given full force and
effect according to each and all of its express terms and provisions, including
those relating to unknown and unsuspected claims, demands, obligations, and
causes of action, if any, as well as those relating to any other claims,
demands, obligations or causes of action specified above. Ken Powell waives any
right or claim he may have to employment, re-instatement, or re-employment with
EXE.

6.     Continuing Obligations. You and EXE both specifically acknowledge that you
have ongoing obligations with respect to confidentiality and company property as
set forth in Sections 5 and 6 of your Employment Agreement and with respect to
the Covenant not to Compete set forth in Sections 7a(iii), (a)(iv) and (a)(v)
and Section 7(b) of your Employment Agreement. Both parties agree that the
obligations under Sections 7(a)(iii), a(iv) and a(v) and Section 7(b) of your
Employment Agreement will terminate effective as of October 31, 2003. In
addition, through October 31, 2003, you will not engage or participate, directly
or indirectly, or become interested (as owner, proprietor, promoter,
stockholder, lender, partner, co-venturer, director, officer, employee, agent
consultant or otherwise) in any of the competitors listed in the next sentence
(“Competitors”) or become interested in (as owner, proprietor, promoter,
stockholder, lender, partner, co-venturer, director, officer, employee, agent
consultant or otherwise) any portion of the business of any Competitor
(notwithstanding the foregoing, you may hold not more than one percent (1%) of
the outstanding securities of any class of any public-traded securities of a
Competitor). The following are Competitors for the purposes of the definition in
the preceding sentence: E3, High Jump, HK Systems, i2, McHugh Software/Red
Prairie, Manhattan Associates, Manugistics, OMI, Optim, Provia, TRW/Mare, oracle
supply chain unit, PeopleSoft supply chain unit and SAP supply chain unit and
any new business you may start for the purpose of providing software for
warehouse management, supply chain execution and order fulfillment and related
services for warehouse, distribution and logistics facilities. Your
confidentiality obligations with respect to the Company include your obligation
not to disclose this agreement or your termination of employment (or any facts
relating thereto), other than to your personal advisors and attorneys or unless
the law requires disclosure (and, in such event, you shall give EXE prior
written notice and a reasonable opportunity to contest any such

 

 

Ken Powell

October 17, 2002

Page 3

disclosure being
made), until the earlier of July 31, 2003 or the date that Company or its agents
and representatives publicly announces these items, and then only to the extent
the Company publicly discloses these items. In addition, you will not disparage
the Company, its predecessors, successors (by merger or otherwise), parents,
subsidiaries, affiliates, divisions, directors, officers, employees and agents,
whether present or former. The Company will not disparage you and the Company
agrees that the board of directors and executive officers will provide only
positive references regarding your employment with the Company..

7.     Company Property. By October 31, 2002, you will return all company property and return to EXE
or destroy all copies of EXE’s Proprietary Information in your possession or control.

8.     Stock Options. You will be eligible to exercise your options that have vested
as of October 31, 2002 so long as you exercise on or before January 31, 2003,
and the unvested portion of your options shall automatically expire on October
31, 2002. You must complete the exercise of your vested options on or before the
expiration date or such options will automatically expire. If you wish to
exercise your vested options, please access your account at E*Trade.

9.     Entire Agreement. Except as expressly provided in Section 6 above, this
separation agreement contains the entire agreement between you and EXE and
supersedes all other agreements between you and EXE, including but not limited
to the Employment Agreement, any bonus plan, and any offer letter of employment.

10.     Governing Law. This Agreement shall be construed and enforced in accordance with the laws of the State
of Texas, without regard to the principles of conflicts of laws of any jurisdiction.

11.     Consent to Suit. In the case of any dispute under or in connection with this
Agreement, the parties may only bring suit in the Courts of the State of Texas
in and for the County of Dallas or in the Federal District Court for such
geographic location. The parties hereby consent to the jurisdiction and venue of
the courts of the State of Texas in and for the County of Dallas or the Federal
District Court for such geographic location, provided that such Federal Court
has subject matter jurisdiction over such dispute, and the parties hereby waive
any claim based upon an inconvenient forum with respect to such venue. Any
judgment entered against either of the parties in any proceeding hereunder may
be entered and enforced by any court of competent jurisdiction. If an action at
law or in equity is necessary to enforce or interpret the terms of this
agreement, then the prevailing party shall be entitled to recover, in addition
to any other relief, reasonable attorneys’ fees, costs and disbursements.

 

 

Ken Powell

October 17, 2002

Page 4

Please indicate your acceptance of the terms of this separation agreement by
signing and returning this letter to me via fax on or before Thursday, October
17, 2002, 5PM CST at (214) 775-0913 and one original via mail.

Sincerely,

Ken Vines

Chief Financial Officer

Accepted and agreed:

                                

Ken Powell

Date: October 17, 2002

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