Document:

Exhibit 10.30

 Exhibit 10.30 
  

 
 Fairchild Semiconductor 2007 Stock Plan 

Total Stockholder Return (TSR) Performance Unit Award Agreement 

 

			
	PARTICIPANT:		PARTICIPANT ID:
		
	GRANT DATE:		
		
	TARGET NUMBER OF UNITS:		
		
	PERFORMANCE PERIOD:		

 THIS AGREEMENT, effective as of the Grant Date set forth above, is between Fairchild Semiconductor International, Inc., a
Delaware corporation (the “Company”, “we”, “our” or “us”) and the Participant named above (“you” or “yours”), pursuant to the provisions of the Fairchild Semiconductor 2007 Stock Plan (the
“Plan”) with respect to the award of performance units described below. Capitalized terms used and not defined in this Agreement shall have the meanings given to them in the Plan. 

By accepting this Grant, you irrevocably agree, on your own behalf and on behalf of your heirs and any other person claiming rights under this Agreement, to
all of the terms and conditions of the Performance Unit Award as set forth in or pursuant to this Agreement and the Plan (as such may be amended from time to time). You and the Company agree as follows: 

 

									
	1.		Application of Plan; Administration:		This Agreement and your rights under this Agreement are subject to all the terms and conditions of the Plan, as it may be amended from time to time, as well as to such rules and regulations as the Administrator may
adopt. It is expressly understood that the Administrator that administers the Plan is authorized to administer, construe and make all determinations necessary or appropriate to the administration of the Plan and this Agreement, all of which shall be
binding upon you to the extent permitted by the Plan. Any inconsistency between this Agreement and the Plan shall be resolved in favor of the Plan.
			
	2.		Grant:		 The Company hereby awards to the Participant the Target Number of Units set forth above and in Section 3 below (the
“Target Units”), which, depending on the extent to which a performance award (as described by Plan) is attained during the Performance Period, may result in the Participant earning as little as zero Earned Units or as many as the Maximum
Number of Earned Units. Subject to the terms of this Award Agreement and the Plan, each Target Unit, to the extent it becomes an Earned Unit, represents a right to receive one share of Common Stock (a “Share”) on the
Settlement Date. Unless and until a Target Unit has been determined to be an Earned Unit, the Participant will have no right to receive any Shares in settlement of such Target Units. Prior to settlement (if any), such Target Units will
represent an unfunded and unsecured obligation of the Company.
  
 Subject to the
foregoing paragraph and provided that you have remained in the full time employment or service of the Company or an Affiliate from the Grant Date set forth above, the number of units earned under this Agreement (the “Earned Units”) shall
be determined in accordance with the schedule set forth below.

			
	3.		Target Number of Units:		[            ]
			
	4.		Maximum Number of Earned Units:		[                ], which is 150% of the Target Number of Units provided that, in the event the fair market value of the
Target Units on the Vesting Date exceeds three times the fair market value of the Target Units on the Grant Date (the “Maximum Dollar Amount”), the Maximum Number of Units shall be capped at an amount of shares with a fair market value on
the Vesting Date equal to the Maximum Dollar Amount. In the event the Company Total Stockholder Return for the Performance Period is negative, the Maximum Number of Units shall be capped at the Target Number of Units, notwithstanding the extent to
which the Company’s Total Stockholder Return exceeds the Benchmark Index Total Return.
			
	5.		Performance Period:		The three consecutive fiscal years beginning                      and ending
                    , subject to Section 17 of this Award Agreement.
			
	6.		Performance Criteria:		The difference over the Performance Period, measured in percentage points, between the Company’s Total Stockholder Return and the Benchmark Index Total Return, both determined in accordance with this Award
Agreement.
			
	7.		Benchmark Index:		The Philadelphia Semiconductor Sector Total Return Index (NASDAQ OMX: XSOX).
			
	8.		Earned Units:		The number of Earned Units, if any (not to exceed the Maximum Number of Earned Units), shall equal the product of (i) the Target Number of Units and (ii) the Relative Return Factor, as illustrated by
Appendix A.
			
	9.		Relative Return Factor:		 A percentage (rounded to the nearest 1/10th of 1% and not greater than 150% or less than 0%) equal to the sum of (a) 100%
and (b) two times the difference (whether positive or negative) equal to (i) the Company Total Stockholder Return minus (ii) the Benchmark Index Total Return, which can also be expressed as follows:

 
 Relative Return Factor or RRF = 100% + (2 x (CTSR – BITR)), rounded to the nearest
1/10th of 1%, and provided that RRF cannot be greater than 150% or less than 0%. See Appendix A.

									
			
	10.		Measurement of Performance Criteria:		 “Company Total Stockholder Return” or “CTSR” means the
percentage point increase or decrease in (a) the Average Per Share Closing Price for the 60-calendar-day period ending on the last day of the Performance Period over (b) the Average Per Share Closing Price for the 60-calendar-day period
ending on [                    ].

“Average Per Share Closing Price” means the average of the daily closing price per Share as reported on the NASDAQ Stock Market for all
trading days falling within an applicable 60-calendar-day period. The Average Per Share Closing Price shall be adjusted in each case to reflect an assumed reinvestment, as of the of applicable dividend payment date, of all cash dividends (if
any) and other cash distributions (excluding cash distributions resulting from share repurchases or redemptions by the Company) paid to stockholders, as applicable, during the 60-calendar-day period ending on the first day of the Performance Period
and during the Performance Period.
  
 “Benchmark Index Total
Return” or “BITR” means the percentage point increase or decrease in (a) the Average Index Value for the 60-calendar-day period ending on the last day of the Performance Period over (b) the Average
Index Value for the 60-calendar-day period ending on [                    ].

 
 “Average Index Value” means the average of the daily closing
values of the Benchmark Index as reported by the NASDAQ Stock Market for all trading days falling within the applicable 60-calendar-day period.

			
	11.		Level of Performance Criteria Attained:		Following the end of the Performance Period and the collection of relevant data necessary to determine the extent to which the performance goal set forth in this Paragraph 11 has been satisfied, the Administrator will
determine: (a) the extent to which the performance goal was achieved by the Company for the Performance Period; and (b) the number of Earned Units under this agreement. The Administrator shall make these determinations in its sole discretion.
The number and kind of shares subject to or issued under the Performance Unit Award shall be subject to adjustment as provided for in Section 12(d) of the Plan. For the avoidance of doubt, the right to receive up to 1.50 times the Target Number of
Performance Units shall expire without consideration to the extent that such units do not become Earned Units. On or before the Vesting Date following completion of the Performance Period, the Committee shall certify in writing the level of
attainment of the Performance Criteria during the Performance Period, the resulting Relative Return Factor and the number of Target Units which have become Earned Units.
			
	12.		Vesting:		Earned Units (if any) will vest in full, becoming rights to receive Shares in settlement thereof on the third anniversary of the Grant Date provided that in no case shall the units vest before the date of the
Administrator’s written certification of the performance goal achievement specified in Section 11 above (the “Vesting Date”).
			
	13.		Termination of Employment:		The vesting period set forth above may be adjusted by the Administrator to reflect the decreased level of employment or service during any period in which you are on an approved leave of absence or are employed on a
less than full time basis. Except as otherwise provided in Paragraph 17 of this Agreement, rights, including but not limited to rights to receive Shares, under any Target Units that have not become Earned Units at the time your employment or service
with the Company terminates for any reason will be forfeited without consideration as of the date of termination.
			
	14.		Settlement of Earned Units and Issuance of Shares:		Each Earned Unit will be settled by the delivery of one Share to you or, in the event of your death, to your designated beneficiary, promptly following the Vesting Date with respect to such Shares, subject to your
satisfaction of any tax withholding obligations as described in Paragraph 18 of this Agreement. You hereby authorize any brokerage service provider determined acceptable to the Company, to open a securities account for you to be used for the
settlement of Earned Units. The date on which Shares are issued may include a delay in order to provide the Company such time as it determines appropriate to address tax withholding and other administrative matters.
			
	15.		Rights as Stockholder:		Except as otherwise provided in this Agreement, you will not be entitled to any privileges of ownership of the shares of Common Stock underlying your Target Units or Earned Units unless and until Shares are actually
delivered to you under this Agreement.
			
	16.		Dividends:		From and after the date a number of Target Units are issued to you under Paragraph 2, you will be credited with additional Target Units, or, if the number of Earned Units has by then been determined, with additional
Earned Units, having a value equal to declared dividends, if any, with record dates that occur prior to the settlement of any Earned Units as if such Target Units or Earned Units, as the case may be, had been actual shares of Common Stock, based on
the Fair Market Value of a share of Common Stock on the applicable dividend payment date. Any such additional Target Units or Earned Units shall be considered Target Units or Earned Units, as the case may be, under this Agreement and shall also be
credited with additional Target Units or Earned Units as dividends, if any, are declared, and shall be subject to the same restrictions and conditions (including the risk of forfeiture) as the Target Units or Earned Units with respect to which they
were credited. Notwithstanding the foregoing, no such additional Target Units or Earned Units will be credited with respect to any dividend in connection with any adjustment pursuant to Section 12(d) of the Plan. Any such reinvestment of dividends
shall be subject to the Plan.
			
	17.		Change in Control:		Notwithstanding anything to the contrary in this Agreement, the Target Units shall be subject to acceleration of vesting upon a Change in Control as provided with respect to Deferred Stock Units under Section 12(a)(3)
of the Plan, and shall be settled as if pursuant to Paragraph 14 of this Agreement. Without limiting the generality of the foregoing, if a Change in Control occurs during the Performance Period, the number of Earned Units under this Agreement
will be deemed equal to 100% of the Target Number of Units immediately prior to the Change in Control.

  
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 18.
		  
 Taxes:
		  
 (a)
		  
 General. You are ultimately liable and responsible
for all taxes owed by you in connection with your award under this agreement, regardless of any action the Company takes or any transaction pursuant to this Paragraph 18 with respect to any tax withholding obligations that arise in connection
with such award. The Company makes no representation or undertaking regarding the treatment of any tax withholding in connection with the grant, issuance, vesting or settlement of Target Units or Earned Units or the subsequent issuance or sale of
any Shares underlying this award. The Company does not commit and is under no obligation to structure this Agreement to reduce or eliminate your tax liability.

				
					(b)		Taxes. You will be subject to federal and state income and other tax withholding requirements on a date determined by applicable law (any such date, the “Taxable Date”). You will be solely
responsible for the payment of all U.S. federal income and other taxes, including any state, local or non-U.S. income or employment tax obligation that may be related to the Shares, including any such taxes that are required to be withheld and paid
over to the applicable tax authorities (the “Tax Withholding Obligation”). You will be responsible for the satisfaction of such Tax Withholding Obligation in a manner acceptable to the Company in its sole discretion, including through
payroll withholding.
				
					(c)		(i) By Sale of Shares. Your acceptance of this Agreement constitutes your instruction and authorization to the Company and any brokerage firm determined acceptable to the Company for such purpose to sell on
your behalf a whole number of shares from those Shares issuable to you as the Company determines to be appropriate to generate cash proceeds sufficient to satisfy the applicable Tax Withholding Obligation, and to transfer the proceeds from the sale
of such Shares from your securities account established with the brokerage service provider for the settlement of your Earned Units to any account held in the name of the Company. Such Shares will be sold on the Taxable Date or as soon thereafter as
practicable. You will be responsible for all brokers’ fees and other costs of sale, which fees and costs may be deducted from the proceeds of the foregoing sale of Shares, and you agree to indemnify and hold the Company and any brokerage firm
selling such Shares harmless from any losses, costs, damages, or expenses relating to any such sale. To the extent the proceeds of such sale exceed your Tax Withholding Obligation, such excess cash will be deposited into the securities account
established with the brokerage service provider for the settlement of your Earned Units. Such Shares will be sold through the broker at market prices; however the price you receive will reflect a weighted average sales price based on the sales price
of Shares on behalf of you and others for whom the designated broker may be selling shares on the relevant day(s), and you acknowledge that the Company or its designee is under no obligation to arrange for such sale at any particular price, and that
the proceeds of any such sale may not be sufficient to satisfy your Tax Withholding.
				
							(ii) Obligation. Accordingly, you agree to pay to the Company as soon as practicable, including through additional payroll withholding, any amount of the Tax Withholding Obligation that is not satisfied
by the sale of shares described above. Unless otherwise authorized by the Administrator in its sole discretion, the sale of Shares may be one method used by the Company to satisfy the applicable Tax Withholding Obligation, and accordingly you
represent and warrant to the Company as follows:
					
							A.		You are accepting this Agreement during a permitted trading period, and at the time of accepting this Agreement you are not aware of any Material Nonpublic Information (as defined in the Company’s Corporate Legal Insider
Trading and Tipping Policy) concerning the Company.
					
							B.		You will not exercise any subsequent influence over the amount of Shares to be sold hereunder to generate funds for the Tax Withholding Obligation or the price, date or time of such sale.
					
							C.		You are entering into this Agreement in good faith and have a bona fide intention to carry out the terms of this Agreement, and you will not enter into or alter a corresponding or hedging transaction or position with respect to
the Shares.
				
							(iii) By Share Withholding. If so elected in the sole discretion of the Administrator, then in lieu of a market sale pursuant to Paragraph 18(c)(i) you authorize the Company to withhold from the Shares
issuable to you the whole number of shares with a value equal to the Fair Market Value of the Shares on the Taxable Date or the first trading day before the Taxable Date, sufficient to satisfy the applicable Tax Withholding Obligation. You
acknowledge that the withheld shares may not be sufficient to satisfy your Tax Withholding Obligation. Accordingly, you agree to pay to the Company as soon as practicable, including through additional payroll withholding, any amount of the Tax
Withholding Obligation that is not satisfied by the withholding of Shares described above.
				
	19.		Electronic Delivery:				The Company may, in its sole discretion, decide to deliver any documents related to any awards granted under the Plan by electronic means or to request your consent to participate in the Plan by electronic means. You
hereby consent to receive such documents by electronic delivery and, if requested, to agree 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, and such consent shall remain in effect throughout your term of employment or service with the Company and thereafter until withdrawn in writing by you.

  
 3 

									
				
	20.		Miscellaneous:		(a)		This Agreement shall not confer upon you any right to continue as an employee, or otherwise in the service of, the Company or any Affiliate, nor shall this Agreement interfere in any way with the Company’s or
such Affiliate’s right to terminate your employment or service at any time.
				
					(b)		Without limiting the generality of Paragraph 20(a) above, this Agreement and the Plan may be amended without your consent to the extent provided in Section 19 of the Plan.
				
					(c)		This Agreement will be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or stock exchanges as may be required. The Company may impose such restrictions,
conditions or limitations as it determines appropriate as to the timing and manner of any resales by you or other subsequent transfers by you of any shares of Common Stock issued as a result of or under this Agreement, including without limitation
(i) restrictions under an insider trading policy, (ii) restrictions that may be necessary in the absence of an effective registration statement under the Securities Act of 1933, as amended, covering the Target Units and (iii) restrictions
as to the use of a specified brokerage firm or other agent for such resales or other transfers. Any sale of shares of Common Stock issued pursuant to this Agreement must also comply with other applicable laws and regulations governing the sale of
such shares.
				
					(d)		To the extent not preempted by U.S. federal law, this Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware.
				
					(e)		Any question concerning the interpretation of this Agreement or the Plan, any adjustments required to be made under the Plan, and any controversy that may arise under the Plan or this Agreement shall be determined by
the Administrator (including any person(s) to whom the Administrator has delegated its authority) in its sole and absolute discretion. Such decision by the Administrator shall be final and binding.
			
	21.		Language:		This Agreement and the related documents are drawn up in English at the express wish of the parties.
			
	22.		Signatures:		 By the signatures below, you and the authorized representative of the Company acknowledge agreement to this Performance Unit
Award Agreement as of the Grant Date specified above.
  
 FAIRCHILD SEMICONDUCTOR
INTERNATIONAL, INC.

			
					  
 

  
 Mark S. Thompson

President and CEO

  
 4 

 APPENDIX A 

ILLUSTRATION OF RELATIVE RETURN FACTOR AND RESULTING NUMBER OF EARNED UNITS 
  

															
	Percentage Point Difference of
Company TSR Over/Under
Benchmark Index Total Return	 	 	Relative Return
Factor	 	 	Earned Units
(Per 1,000 Target Units)	 	 	 	 
				
	 	25	% 	 	 	150	% 	 	 	1,500	  	 			
	 	24	% 	 	 	148	% 	 	 	1,480	  	 			
	 	23	% 	 	 	146	% 	 	 	1,460	  	 			
	 	22	% 	 	 	144	% 	 	 	1,440	  	 			
	 	21	% 	 	 	142	% 	 	 	1,420	  	 			
	 	20	% 	 	 	140	% 	 	 	1,400	  	 			
	 	19	% 	 	 	138	% 	 	 	1,380	  	 			
	 	18	% 	 	 	136	% 	 	 	1,360	  	 			
	 	17	% 	 	 	134	% 	 	 	1,340	  	 			
	 	16	% 	 	 	132	% 	 	 	1,320	  	 			
	 	15	% 	 	 	130	% 	 	 	1,300	  	 			
	 	14	% 	 	 	128	% 	 	 	1,280	  	 			
	 	13	% 	 	 	126	% 	 	 	1,260	  	 			
	 	12	% 	 	 	124	% 	 	 	1,240	  	 			
	 	11	% 	 	 	122	% 	 	 	1,220	  	 			
	 	10	% 	 	 	120	% 	 	 	1,200	  	 			
	 	9	% 	 	 	118	% 	 	 	1,180	  	 			
	 	8	% 	 	 	116	% 	 	 	1,160	  	 			
	 	7	% 	 	 	114	% 	 	 	1,140	  	 			
	 	6	% 	 	 	112	% 	 	 	1,120	  	 			
	 	5	% 	 	 	110	% 	 	 	1,100	  	 			
	 	4	% 	 	 	108	% 	 	 	1,080	  	 			
	 	3	% 	 	 	106	% 	 	 	1,060	  	 			
	 	2	% 	 	 	104	% 	 	 	1,040	  	 			
	 	1	% 	 	 	102	% 	 	 	1,020	  	 			
	 	0	% 	 	 	100	% 	 	 	1,000	  	 			
	 	-1	% 	 	 	98	% 	 	 	980	  	 			
	 	-2	% 	 	 	96	% 	 	 	960	  	 			
	 	-3	% 	 	 	94	% 	 	 	940	  	 			
	 	-4	% 	 	 	92	% 	 	 	920	  	 			
	 	-5	% 	 	 	90	% 	 	 	900	  	 			
	 	-6	% 	 	 	88	% 	 	 	880	  	 			
	 	-7	% 	 	 	86	% 	 	 	860	  	 			
	 	-8	% 	 	 	84	% 	 	 	840	  	 			
	 	-9	% 	 	 	82	% 	 	 	820	  	 			
	 	-10	% 	 	 	80	% 	 	 	800	  	 			
	 	-11	% 	 	 	78	% 	 	 	780	  	 			
	 	-12	% 	 	 	76	% 	 	 	760	  	 			
	 	-13	% 	 	 	74	% 	 	 	740	  	 			
	 	-14	% 	 	 	72	% 	 	 	720	  	 			
	 	-15	% 	 	 	70	% 	 	 	700	  	 			
	 	-16	% 	 	 	68	% 	 	 	680	  	 			
	 	-17	% 	 	 	66	% 	 	 	660	  	 			
	 	-18	% 	 	 	64	% 	 	 	640	  	 			
	 	-19	% 	 	 	62	% 	 	 	620	  	 			
	 	-20	% 	 	 	60	% 	 	 	600	  	 			
	 	-21	% 	 	 	58	% 	 	 	580	  	 			
	 	-22	% 	 	 	56	% 	 	 	560	  	 			
	 	-23	% 	 	 	54	% 	 	 	540	  	 			
	 	-24	% 	 	 	52	% 	 	 	520	  	 			
	 	-25	% 	 	 	50	% 	 	 	500	  	 			
	 	-26	% 	 	 	0	% 	 	 	0	  	 	 	=	  

  
 5Exhibit 10.3

 

SEPARATION
AGREEMENT AND RELEASE

 

This
Separation Agreement and Release (“Agreement”) is made by and between Paul Price (“Executive”) and Creative
Realities, Inc. (the “Company”), both of whom hereby enter into this Agreement intending to be legally bound and agree
as follows.

 

1. Background.
The facts set forth in this Section 1 are part of this Agreement.

 

(a)
The Company ended Executive’s employment as Chief Executive Officer, and terminated the Executive Employment Agreement,
as defined below, effective April 13, 2015 (the “Termination Date”), but agreed to allow Executive’s employment
with the Company to continue until the close of business on Friday, April 17, 2015. Termination was without “Cause”
as defined in the “Executive Employment Agreement” dated effective August 20, 2014, between Executive and the Company.
A termination of the Executive Employment Agreement without Cause entitles Executive to receive certain post-employment pay and
benefits if Executive enters into this Separation Agreement and Release.

 

(b)
Executive and the Company now desire to fully and finally reach agreement on an amicable separation and resolve any and all disputes
between them on the terms and conditions of this Agreement.

 

(c)
In accordance with the Executive Employment Agreement, the Company paid or will pay Executive his final annualized “Base
Salary,” as defined in the Executive Employment Agreement, through the Termination Date and through the close of business
on Friday, April 17, 2015. The Company has also reimbursed, or will reimburse, Executive for reasonable business expenses that
he incurred prior to the Termination Date, subject to and in the manner provided by current Company expense-reimbursement policy.

 

2.
The Company’s Obligations. In return for “Executive’s Obligations,” described in Section 3 below,
the Company hereby extends to Executive the following consideration, each and all of which are referred to herein as the “Company’s
Obligations,” as long as Executive signs and dates this Agreement, does not exercise his right to revoke this Agreement
as described in Section 5(c) below, and returns it to the Company on or prior to June 12, 2015.

 

(a)
Severance Pay. The Company will pay Executive “Severance Pay” in the amount of twelve (12) months of his final
annualized Base Salary (i.e., $400,000). Payments will be gross, less applicable income tax and other legally required withholding
and any deductions that Executive voluntarily authorizes in writing. The Company will pay the Severance Pay as follows: (i) on
June 12, 2015, the Company will make a lump-sum payment for 60 days of the Severance Pay (i.e., one-sixth of the total Severance
Pay payable hereunder); (ii) subject to the proviso at the end of this paragraph (a), for the next four months thereafter, the
Company will pay one-third of the total Severance Pay payable hereunder in equal installments on successive regular Company paydays,
beginning on the first such payday after June 12, 2015, and (iii) thereafter, the Company will pay the remaining one-half of Severance
Pay payable hereunder in equal installments over the course of the next successive ten (10) months on successive regular Company
paydays, with such payments ceasing once the full Severance Pay has been paid; provided, however, that if Executive obtains employment
during or prior to the payment of all Severance Pay under clause (ii) above, then all then-remaining payments contemplated under
such clause (ii) will be delayed by (1) adding such remaining payments to the amounts payable under clause (iii) above and (2)
extending the total number of months during which payments are to be made under clause (iii) above by the number of payments under
clause (ii) that are so delayed. So for example, if Executive obtains employment after having received two months of regular payments
under clause (ii) (aggregating to approximately $66,667), then the remaining approximately $66,666 of payments to be made under
clause (ii) would instead be delayed and added to the payments made under clause (iii) such that there would be a total of 12
payments made under clause (iii) (in equal installments over the course of 12 months) aggregating to approximately $266,666.

 

    	1

    	 

    

 

All
payments of Severance Pay will be made via direct deposit to the same account to which the Company has most recently made Base
Salary payments to Executive prior to the Termination Date or in accordance with such other written instructions as Executive
may provide.

 

(b)
COBRA. If Executive elects to continue to participate in the Company’s group medical insurance program for himself
and his eligible dependents, and Executive continues to pay his current share of the cost of that coverage, the Company will continue
to pay its share of the cost of that coverage through May 31, 2016 or until Executive obtains comparable replacement coverage,
whichever occurs first. Executive understands that he must complete and return to the Company or its insurance administrator the
required paperwork to receive this benefit and that this requirement is his obligation and not an obligation of the Company.

 

(c)
Release of Claims. The Company hereby fully and finally releases and waives to the maximum extent permitted by applicable
law the following legal and equitable claims against Executive up to the moment that he signs and delivers this Agreement to the
Company (except as described in the proviso at the end of this sentence): (i) all claims the Company has now, whether or not the
Company now knows about or suspects the claims; (ii) all claims for attorney’s fees, costs and disbursements; (iii) all
claims arising from Executive’s employment and the termination of his employment; and (iv) any other claims of any nature
or description that the Company may have against Executive; provided, however, that the Company is not hereby releasing Executive
from any claims, or any rights to sue Executive, relating to (A) the enforcement of this Agreement, or (B) the enforcement of
any other written agreement that Executive and the Company may enter into after the Termination Date, or (C) any claims for fraud
or embezzlement.

 

(d)
The Company will provide Executive with a written draft of the public disclosure the Company intends to release through the SEC’s
EDGAR system (whether on Form 8-K or otherwise) for the purpose of obtaining his comments and suggestions for such disclosure.

 

(e)
The Company will cause the first one year’s worth of options scheduled for vesting in October 2015 to vest, effective as
of the Termination Date (with all other options thereunder, being unvested as of the Termination Date, terminating as of the Termination
Date), and Executive shall be permitted to exercise such options until the expiration date for exercise provided in the option
award provided to Executive, subject, however, to (i) the condition subsequent that Executive execute and deliver this Agreement
to the Company and fully perform the Executive’s Obligations, as described in Section 3 immediately below, hereunder, and
(ii) the other terms and conditions of the option award, including the relevant terms and conditions of the Company’s 2015
Stock Incentive Plan pursuant to which such option award was issued.

 

    	2

    	 

    

 

(f)
The Company will ensure that Executive shall continue to be indemnified against all claims or causes of action that may have
arisen while he was employed by the Company, in accordance with, and subject to, current Company policies and applicable law,
and shall continue to maintain director’s and officer’s liability insurance coverage for Executive with respect
to his employment with the Company.

 

3. Executive’s
Obligations. In return for the Company’s Obligations described in Section 2 above, Executive hereby extends to the
Company the following consideration, each and all of which are referred to herein as the
“Executive’s Obligations.”

 

(a)
Release of Claims. Executive hereby fully and finally releases and waives to the maximum extent permitted by applicable
law the following legal and equitable claims against the Company up to the moment that he signs and delivers this Agreement to
the Company:

 

(i)
all claims that Executive has now, whether or not he now knows about or suspects the claims, including securities or common law
claims relating to purchases of securities of the Company, and claims relating to Executive’s share ownership in the Company;

 

(ii)
all claims for attorney’s fees, costs and disbursements;

 

(iii)
all rights and claims for discrimination, harassment and retaliation under any applicable federal, state or local statute, law,
regulation, or ordinance, including, for example, rights and claims of age discrimination, harassment, and retaliation under the
federal Age Discrimination in Employment Act (“ADEA”), Older Workers Benefit Protection Act (“OWBPA”),
and New York Human Rights Law (“NYHRL”); and discrimination, harassment, and retaliation claims under the Americans
with Disabilities Act, Title VII of the Civil Rights Act of 1964, and the NYHRL;

 

(iv)
all claims arising from Executive’s employment and the termination of his employment, including but not limited to breach
of contract, breach of implied contract, breach of the implied covenant of good faith and fair dealing, illegal termination, termination
in violation of public policy, promissory estoppel, wrongful termination, negligence, defamation, retaliation, invasion of privacy,
fraud, and infliction of emotional distress;

 

(v)
all claims for any other unlawful employment practices arising out of or relating to Executive’s employment or separation
from employment;

 

(vi)
all claims for any other form of pay or compensation that is not provided in this Agreement including, for example, bonus pay
and commission pay; and

 

(vii)
all claims under the Employee Retirement Income Security Act of 1974, as amended.

 

    	3

    	 

    

 

The
money and benefits that Executive is receiving in this Agreement as the Company’s Obligations are full and fair payment
for the release and waiver of the above legal and equitable claims, and they have a value that is greater than anything else to
which he was already entitled if he did not enter into this Agreement.

 

The
Company hereby advises Executive that the above release and waiver does not apply to any claim that may arise under the ADEA after
the date on which he signs and delivers this Agreement to the Company.

 

(b)
Covenant Not to Sue. Except as provided in the next two paragraphs, Executive will not sue the Company in court as to any
matter known, unknown, suspected, or unsuspected up to the moment that he signed this Agreement.

 

(i)
Limitations on Covenant Not to Sue. The Company hereby advises Executive that this promise not to sue does not apply in
the following circumstances: (i) If Executive chooses to exercise his legal right to challenge the validity of this Agreement,
he will not be penalized or have an obligation to notify the Company; (ii) if it is necessary for Executive to sue to enforce
the provisions of this Agreement; and/or (iii) if Executive’s agreement not to sue the Company is invalid under applicable
law. Nevertheless, Executive understands and agrees that he will not be entitled to receive or retain the payments and other benefits
that comprise the Company’s Obligations if this Agreement is deemed to be invalid.

 

(ii)
Additional Legal Rights. Executive also understands that, without being penalized or having an obligation to the Company,
this Agreement does not prohibit him from filing an administrative charge of discrimination with, or cooperating or participating
in an investigation or legal proceeding conducted or initiated by, the Equal Employment Opportunity Commission or other federal,
state, or local regulatory or law enforcement agency. If he has filed or files a charge or complaint, he agrees that the money
and benefits that he received in this Agreement as the Company’s Obligations completely satisfy any and all claims in connection
with such charge or complaint, and he is not entitled to any other monetary relief of any kind with respect to the claims that
he has released in this Agreement unless his waiver and release of claims were deemed unlawful or otherwise invalid.

 

For
purposes of the above Release of Claims and Covenant Not to Sue, the “Company” means Creative Realities, Inc., and
all and each of its past and present parents, subsidiaries, and affiliates; and all and each of the respective past and present
representatives, managers, members, governors, agents, officers, directors, employees, committees, insurers, attorneys, indemnitors,
successors and assigns of any and all of the foregoing entities. Also for purposes of this Section 3, “Executive”
means Paul Price, and any person who has or obtains legal rights or claims against the Company through Paul Price.

 

    	4

    	 

    

 

(c)
Executive will make himself reasonably available for consultation and assistance to the Company until October 13, 2015 within
the meaning and spirit of Article 6.09 of the Executive Employment Agreement and, to the extent necessary, Executive shall be
reimbursed for any reasonable out-of-pocket expenses incurred in providing such consultation or assistance.

 

(d)
Executive will communicate with Company customers, employees, vendors or contractors (including but not limited to by email) (each
a “Contact”) regarding his separation from the Company, or in connection with his efforts to transition business or
close sales opportunities, only in collaboration with the Company’s interim Chief Executive Officer, Controller, and senior
salespersons (Ms. Warren and Mr. Hasenzhal); provided, however, that, the foregoing shall not apply with respect to any Contact
engaged in by Executive after he has obtained a new position and such Contact is for the purpose of advising such individuals
of his new position and providing them with his contact information, so long as Executive observes the requirements of Sections
4(a) and 4(h) below.

 

4. Additional
Agreements and Understandings.

 

(a)
Non-Disparagement. Article 6.04 of the Executive Employment Agreement is no longer in effect. Executive now agrees that
he will not disparage or make any negative comments about the Company’s technologies, hardware, software, services, or solutions
for a period of 12 months after the Termination Date; provided, however, that this obligation does not restrict or prohibit Executive
from making statements to, expressing opinions to, or in any other manner communicating with the Equal Employment Opportunity
Commission, the National Labor Relations Board, or any other federal, state, or local law enforcement or regulatory agency. In
return, the Company’s directors and officers will not disparage Executive or Executive’s skills, ability, experience,
or performance of Executive’s job duties and responsibilities at the Company for a period of 12 months after the Termination
Date; provided, however, that information which a Company director or officer is required to make or disclose regarding Executive
to comply with laws or regulations, or makes in a pleading on the advice of litigation counsel, and information which a Company
director or officer needs to disclose for legitimate business reasons (for example disclosure to the Company’s insurers
or business associates) shall not constitute a disparaging statement.

 

(b)
Resignation from Positions. Executive confirms that, as of the Termination Date and by virtue of the controlling language
in the Executive Employment Agreement, Executive has resigned from all other positions Executive held as an officer, director
or independent contractor of the Company or any of its subsidiaries or affiliates, unless otherwise agreed by the Company and
Executive in writing, and Executive will execute all documents reasonably requested of him to confirm such resignations.

 

(c)
No Fault and Non-Admission. The Company does not admit that it is responsible or legally obligated to Executive, and in
fact the Company denies that it is responsible or legally obligated to Executive even though he will receive money and benefits
under this Agreement as the Company’s Obligations for the release and waiver of the above claims.

 

(d)
Surviving Benefits. Nothing in this Agreement affects Executive’s rights in any benefit plan or program in which
he was a participant while employed by the Company. The terms and conditions of the plans and programs control his and the Company’s
rights and obligations.

 

    	5

    	 

    

 

(e)
Unemployment Compensation. If asked to do so, the Company will report to the State the severance payments that it paid
in this Agreement for purposes of calculating Executive’s unemployment compensation benefits, and the Company will respond
to any statement with which it disagrees that Executive makes in support of his claim.

 

(f)
Return of Property. Executive has returned to the Company all of the property and documents of the Company in any form
or media that were in Executive’s possession or under Executive’s control, including without limitation the following:
all property and documents containing any Confidential Information, computers and computer accessories, iPads, iPhones, BlackBerry
devices, credit cards, security cards and keys, badges, strategic plans, marketing plans, business development plans, operational
plans, financial information, customer lists and information, pricing information, and any and all like-kind information or information
directly or indirectly related to the foregoing, software in any and all formats, designs, drawings, specifications, any and all
other know-how, techniques, documentation, diagrams, flow charts or similar information pertaining to its technologies, hardware,
software, services, or solutions, and any and all copies, descriptions and summaries of the foregoing, whether created by Executive
or the Company. Executive hereby represents that he has not retained any copies or duplicates of the foregoing, nor has Executive
downloaded any of the Company’s documents, files or other information from the hard-drive of any computer pertaining to
the foregoing, except to the extent necessary in the performance of his duties. Notwithstanding the foregoing, once Executive
shall have returned his Company issued iPad and laptop and the Company shall have ensured that all Company software, documentation,
and Confidential Information has been removed therefrom, the Company will return such iPad and laptop to Executive for him to
keep.

 

(g)
Confidentiality. Executive will keep the financial terms of this Agreement confidential and make no disclosures to any
other parties except as follows: (1) he may disclose the financial terms to his spouse, attorney, tax accountant, and financial
planner; and (2) he may disclose the financial terms if required by law to do so. This provision does not prohibit Executive from
filing an administrative charge of discrimination with, or cooperating or participating in an investigation or legal proceeding
conducted or initiated by, the Equal Employment Opportunity Commission or other federal, state, or local regulatory or law enforcement
agency.

 

(h)
Affirmation of Post-Employment Obligations in the Executive Employment Agreement. Executive hereby affirms that his post-employment
obligations in the Executive Employment Agreement, including but not limited to those in Article 8 (nondisclosure and inventions)
and Article 9 (non-competition, non-interference and non-solicitation), survive the termination of Executive’s employment
and remain in full force and effect, and Executive further affirms that he will comply with these and all related post-employment
obligations. Any other provisions of the Executive Employment Agreement that by their terms contemplate or require performance
or compliance after the Termination Date also remain in full force and effect.

 

    	6

    	 

    

 

5. Legal
Rights.

 

(a)
Right to Counsel. This is a legal document. The Company hereby advises Executive to consult with an attorney prior to signing
this Agreement.

 

(b)
Right to Consider Agreement. Executive understands that he has 21 days to consider this Agreement, including his waiver
of rights and claims of age discrimination, harassment, and retaliation under the ADEA and OWBPA, beginning on the date Executive
receives this Agreement.

 

(c)
Right to Revoke. If Executive signs this Agreement, then for a period of seven days following the day on which he signed
it, he understands that he will then be entitled to revoke this Agreement, and this Agreement will not become effective or enforceable
until the seven-day period has expired.

 

Executive
understands that if he exercises his right to revoke as provided above, this Agreement will be cancelled. Executive’s employment
will still end on the Termination Date, and he will not receive any the Company’s Obligations or, or, to the extent that
he may have earlier received, he will not be entitled to retain them.

 

6.
Representations of the Company. The Company hereby represents and warrants to Executive that, by virtue of applicable state
law, he will remain entitled to corporate indemnity after the Termination Date for acts and omissions during his service as a
director and the Company’s Chief Executive Officer, subject, however, to the state law limitations on such indemnity (e.g.,
acts undertaken in bad faith, etc.). The Company further represents and warrants that his acts and omissions during his service
as a director and the Company’s Chief Executive Officer will remain covered under the Company’s current director and
officer liability insurance policy.

 

7.
Governing Law and Venue. The parties agree that this Agreement shall be interpreted, construed, governed and enforced under
and pursuant to the laws of the State of New York without regarding to such state’s conflicts-of-law principles. Executive
irrevocably consents to the exclusive jurisdiction of courts in New York for the purposes of any action arising out of or related
to his employment, or any actions for temporary, preliminary, and permanent equitable relief.

 

8.
Binding Effect. This Agreement will bind and benefit Executive and anyone who has or claims any legal rights through him.

 

9. Assigns.
Executive may not assign his rights in this Agreement.

 

10.
Entire Agreement. No modification or amendment of this Agreement will be binding unless executed in writing by both parties.
This Agreement, and the surviving provisions of the Executive Employment Agreement as described in Section 4(h) above, constitute
the entire understanding between Executive and the Company, and supersede all prior discussions, representations, agreements,
guidelines and/or negotiations between them with respect to the matters herein.

 

    	7

    	 

    

 

11. Knowing, Voluntary
Agreement. Executive read this Agreement carefully and understands all of its terms. He has had the opportunity to discuss
this Agreement with his own attorney prior to signing it, and enters into this Agreement voluntarily without any pressure or coercion
from the Company. Nobody coerced Executive to agree to sign this Agreement. In signing this Agreement, Executive has not relied
on any statements by the Company, its employees, or attorneys, other than the Company’s Obligations in this Agreement.

 

	Date	5/5/2015	 	/s/
    Paul Price
	 	 	 	Paul
    Price
	 	 	 	 
	Date	 	 	Creative
    Realities, Inc.
	 	 	 	 	 
	 	 	 	By	 
	 	 	 	 	 
	 	 	 	Its	 

 

 

8

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