Document:

ex10_9.htm

EXHIBIT 10.9

 

		
 

 

EMPLOYEE STOCK PURCHASE PLAN

(Amended and Current as of

March 28, 2012)

 

 

ARTICLE I - General

	
1.1

	
The purpose of Photronics, Inc. Employee Stock Purchase Plan is to provide eligible employees of the Company and its designated subsidiaries (if any) with an opportunity to acquire a proprietary interest in the Company by the purchase of shares of the Common Stock of the Company directly from the Company through payroll deductions.  It is felt that employee participation in the ownership of the Company will be to the mutual benefit of both the employees and the Company.

	
1.2

	
The Plan is intended to qualify as an "employee stock purchase plan" within the meaning of Section 423 of the Internal Revenue Code of 1986, as amended (the "Code").  The provisions of the Plan shall, accordingly, be construed so as to extend and/or limit eligibility and participation in a manner consistent, and so as to otherwise comply, with the requirements of the Code.

	
1.3

	
Eligibility and participation in the Plan shall give any Employee only such rights as are set forth in the Plan and any amendments hereto and shall in no way affect or in any manner limit the Company's right to discharge the Employee, which right is expressly reserved by the Company, or impair the authority of the Plan Committee to limit the Employee's rights, claims or causes, as provided in the Plan.

ARTICLE II - Definitions

	
2.1

	
The following words and phrases, when used in the Plan, shall have the following respective meanings, unless the context clearly indicates otherwise:

"Authorized Leave of Absence"

	
  

	
Any leave of absence authorized under the Company's standard personnel practices, provided that all persons under similar circumstances must be treated equally in the granting of such Authorized Leave of Absence and provided further that the person returns to the employ of the Company upon the expiration of an Authorized Leave of Absence.

"Board of Directors"

The Board of Directors of Photronics, Inc.

"Code"

	
  

	
The Internal Revenue Code of 1986, as amended from time to time, and applicable Treasury Department regulations issued thereunder.

  

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"Common Stock"

	
  

	
The Common Stock, par value $0.01 per share, of the Company, or the securities adjusted or substituted therefor pursuant to Article XIV.

"Company"

	
  

	
Photronics, Inc., a Connecticut corporation, or its successor or successors or any present or future subsidiary of Photronics, Inc., which may be designated to participate in the Plan by the Board of Directors.

"Compensation"

	
  

	
The Compensation of an Eligible Employee shall be determined in accordance with procedures approved by the Plan Committee or the Board of Directors.  In the absence of the adoption of specific procedures, Compensation of an Eligible Employee shall be the annualized salary or wages of such Employee based on such Employee's current rate of pay and work schedule, but excluding any discretionary overtime, sick pay, vacation pay or other benefits.

"Disability"

	
  

	
Disability shall have the same meaning set forth in Section 22(e)(3) of the Code or any successor provision thereto.  At present, a disability is defined as a physical or mental impairment or incapacity which, in the opinion of a physician selected by the Plan Committee, can be expected to result in death or has lasted or can be expected to last for a continuous period of at least twelve (12) months and renders the Participant unable to engage in any substantial, gainful activity.

"Effective Date of the Plan"

	
  

	
The date on which the Plan shall have become effective pursuant to Article XVII, provided, however, that if the Plan shall not be approved by the stockholders of the Company as provided in Article XVII, the Plan and all rights granted hereunder shall be, and be deemed to have been, null and void.

"Eligible Employee"

	
  

	
An Employee who is eligible to participate in the Plan in accordance with provisions of Articles IV and V.

"Employee"

	
  

	
Any person who, on an Offering Date, is a common law employee of the Company and whose customary employment is for more than twenty (20) hours per week and for more than five (5) months per calendar year, other than any highly compensated employees (within the meaning of Section 414[q] of the Code or any successor provision thereto) of the Company who are excluded from participation hereunder by action of the Board of Directors.  A person who is or has been on an Authorized Leave of Absence, and who in the absence of such Authorized Leave of Absence would have been classified as an Employee, shall in the discretion of the Plan Committee be considered to be an Employee, except to the extent that such determination is inconsistent with Section 423 of the Code.  Such determination by the Plan Committee shall be final and conclusive.

  

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"Offering"

An Offering in accordance with the provisions of Article V.

"Offering Date"

	
  

	
The date of an Offering as established by the Plan Committee pursuant to Section 5.1 hereof.

"Participant"

	
  

	
An Eligible Employee who subscribes for Shares pursuant to Article VI.

"Plan"

	
  

	
The Photronics, Inc. Employee Stock Purchase Plan set forth herein, as amended from time to time in accordance with the provisions of Article XV.

"Plan Committee"

	
  

	
The committee provided for in Article XII to administer the Plan.

"Purchase Date"

	
  

	
A Purchase Date as provided in Sections 8.1 or 10.3, as appropriate.

"Shares"

Shares of Common Stock offered under the Plan.

The masculine gender, whenever used in the Plan, shall be deemed to include the feminine gender, and whenever the plural is used it shall include the singular, if the context so requires.

ARTICLE III - Shares Subject to the Plan

	
3.1

	
Subject to the provisions of Article XIV hereof, the aggregate number of shares of Common Stock which may be issued under the Plan shall not exceed 1,500,000.  The aggregate number of such shares which may be issued with respect to any Offering shall be determined by the Plan Committee with respect to such Offering.  Such shares may be authorized but unissued shares of Common Stock or issued shares of Common Stock which are held by the Company.  Any shares subscribed for under the Plan and not purchased as a result of the cancellation in whole or in part of such subscription shall (unless the Plan shall have terminated) be again available for issuance under the Plan.

ARTICLE IV - Eligibility

	
4.1

	
Each Employee who has been continuously employed by the Company for the one complete calendar month (or such longer period as may be determined by the Plan Committee) ending immediately prior to an Offering Date shall be eligible to participate in the Offering under the Plan made on such Offering Date.

  

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4.2

	
Notwithstanding the provisions of Section 4.1, no Employee shall be offered Shares if, immediately after he would subscribe for such Shares, such Employee would own capital stock (including shares of Common Stock which may be purchased under such subscription and under any other outstanding subscriptions under the Plan or options to purchase shares of Common Stock of the Company held by such Employee, as computed in accordance with Section 423[b][3] of the Code or any successor provision thereto) possessing 5% or more of the total combined voting power or value of all classes of stock of the Company.  For purposes of determining the stock ownership of any Employee, the provisions of Section 424[d] of the Code shall apply.

ARTICLE V - Offering Under the Plan

	
5.1

	
Offerings under the Plan shall be made on such Offering Dates as shall be determined by the Plan Committee.  Notwithstanding anything to the contrary, no Offering shall be made on any date prior to the date that a required registration statement with respect to such Offering filed under the Securities Act of 1933, as amended, has become effective.  Nothing contained herein shall be deemed to require that an Offering be made in any year.

	
5.2

	[a]	
Subject to the limitations set forth in Sections 5.2[b] and 6.3, and to the other terms and conditions of the Plan, in each offering under the Plan, each Eligible Employee on an Offering Date shall be offered the right during the Subscription Period as provided in Section 6.2, to subscribe to purchase such number of Shares as the percentage designated by the Plan Committee for such offering (not to exceed 5%) of his Compensation would buy, at a price equal to the product of (i) the fair market value of a Share on the Offering Date, multiplied by (ii) the Purchase Price percentage utilized under Section 5.3 hereof.

	 	
[b]

	
Notwithstanding anything to the contrary contained in Sub-Section [a] of this Section 5.2, no Eligible Employee shall be eligible to subscribe for Shares in an Offering if, immediately after he would subscribe for such Shares, such subscription would permit his rights to purchase shares of Common Stock under all employee stock purchase plans of the Company to accrue at a rate which exceeds $25,000 (or such other maximum amounts as may be prescribed from time to time under the Code) of the fair market value of such shares (determined as of the Offering Date for such Offering) for each calendar year in which such subscription would be outstanding at any time.  For purposes of this limitation the provisions of Section 423[b][8] of the Code shall be applicable.

	
5.3

	
The Purchase Price per share subscribed for all Shares in a particular Offering shall be an amount equal to such percentages, not greater than 100% nor less than 85%, as shall be determined by the Plan Committee on or prior to the Offering Date, of the fair market value of a share of Common Stock (determined in accordance with the provisions of Article XIII) on one of the following dates with respect to such Offering, with such date to be determined by the Plan Committee on or prior to the Offering Date: (i) the Offering Date, (ii) the Purchase Date, or (iii) the Offering Date or the Purchase Date (whichever would result in a lower Purchase Price for the Common Stock).

  

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5.4

	
In order to participate in any Offering, an Eligible Employee entitled to subscribe for Shares in such Offering shall comply with the subscription procedures set forth in Article VI.

ARTICLE VI - Subscriptions for Shares

	
6.1

	
As soon as practicable after an Offering Date, the Company shall furnish to each Eligible Employee a Subscription Agreement setting forth the maximum number of Shares to which such Eligible Employee may subscribe in such Offering, the fair market value per share of Common Stock on the Offering Date, the Purchase Price for Shares in such Offering and such other terms and conditions consistent with the Plan as shall be determined by the Plan Committee.

	
6.2

	
Within fifteen (15) days after receipt of such Subscription Agreement, an Eligible Employee desiring to participate in the Offering shall notify the Plan Committee of the number of Shares for which he desires to subscribe.  Such notification shall be effected by the Eligible Employee's completing, executing and returning to the Secretary of the Company the Subscription Agreement.  All such subscriptions shall be deemed to have been made as of the Offering Date.  No subscription shall be accepted from any person who is not an Eligible Employee on the date his subscription is received by the Company.

	
6.3

	
The minimum number of Shares for which an Eligible Employee will be permitted to subscribe in any Offering is ten (10) (or the number of Shares offered to him if fewer than ten).  If at any time the Shares available for an Offering are oversubscribed, the Number of Shares for which each Eligible Employee is entitled to subscribe pursuant to Section 5.2 shall be reduced, pro rata, to such lower number as may be necessary to eliminate such over-subscription.

	
6.4

	
If an Eligible Employee fails to subscribe to the Shares within the period and in the manner prescribed in Section 6.2, he shall waive all rights to purchase Shares in that Offering.

 

ARTICLE VII - Payment for Shares

	
7.1

	
The aggregate Purchase Price for the Shares for which a Participant subscribes in any Offering in accordance with the provisions of Article VI of the Plan shall be paid by means of payroll deductions.

	

7.2

	
[a]

	
The aggregate Purchase Price for Shares shall be paid by payroll deductions in equal amounts over a period of 24 months (or such shorter period as shall be determined by the Plan Committee in accordance with the Plan) from the Offering Date.  The period over which such payroll deductions are to be made in hereinafter referred to as the "Payment Period".

 

  

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[b]

	
Such payroll deductions with respect to an Offering shall commence as soon as practicable after the receipt of the Company of the executed Subscription Agreement authorizing such payroll deductions, and shall cease upon the earlier of the termination of the Payment Period or payment in full of the Purchase Price for such Shares.  A Participant may cancel his subscription to the extent provided for in Article X, but no other change in terms of his Subscription Agreement may be made during the Payment Period and, in particular, in no event may a Participant change the amount of his payroll deductions under such Subscription Agreement.  All payroll deductions withheld from a Participant under a Subscription Agreement shall be credited to his account under the Plan.  In the event that payroll deductions are simultaneously being made with respect to more than one Subscription Agreement, the aggregate amount of such payroll deductions at any payday shall be credited first toward the payment for Shares subscribed for in the earliest Offering.  A Participant may not make any separate cash payment into his account, provided, however, that a Participant who has been deemed to be in the employ of the Company while on an Authorized Leave of Absence without pay during the Payment Period, may upon his return to the actual employ of the Company, make a cash payment into his account in an amount not exceeding the aggregate of the payroll deductions which would have been made during such Authorized Leave of Absence.

	 	
[c]

	
All funds representing payroll deductions for the accounts of Participants will, except as provided in Section 7.3, be paid into the general funds of the Company.  No interest will be paid or accrued under any circumstances on any funds withheld by the Company as payroll deductions pursuant to this Section 7.2 or on any other funds paid to the Company for purchases of Shares under the Plan.

	
7.3

	
Notwithstanding anything in this Article VII to the contrary, with respect to any Offering which is made prior to the approval of the Plan by the stockholders of the Company, all payroll deductions withheld for the accounts of Participants shall, until the Plan is approved by the stockholders, be held by the Company in a special escrow account for the benefit of such Participants.  No interest will be paid or accrued under any circumstances on such funds.  No Shares will be issued to such Participants until after approval of the Plan by the stockholders.  In the event that the Plan is not approved by the stockholders within the period specified in Article XVII, all such funds will thereupon be promptly refunded to the respective Participants.

	
7.4

	
Failure to pay for subscribed Shares as provided in this Article VII shall constitute the cancellation of such subscription to the extent that any such Shares shall not have been so paid for.

ARTICLE VIII - Issuance of Shares

	
8.1

	
At the end of the Payment Period for an Offering, (each of which dates is referred to as a "Purchase Date"), the balance of all amounts then held in the account of a Participant representing payroll deductions pursuant to a Subscription Agreement shall be applied to the purchase by the Participant from the Company of the number of Shares equal to the amount of such balance divided by the Purchase Price per share for such Shares applicable on such Purchase Date up to the number of Shares provided for in the respective Subscription Agreement.  Any amount remaining in the Participant's account in excess of the sum required to purchase whole Shares on a Purchase Date shall be promptly refunded to the Participant.  As soon as practicable after a Purchase Date, the Company will issue and deliver to the Participant a certificate representing the Shares purchased by him from the Company on such Purchase Date.  No fractional shares will be issued at any time.

 

  

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8.2

	
A Participant who disposes (whether by sale, exchange, gift or otherwise) of any of the Shares acquired by him pursuant to the Plan within two (2) years after the Offering Date for such Shares or within one (1) year after the issuance of Shares to him shall notify the Company in writing of such disposition within thirty (30) days after such disposition.

ARTICLE IX - Rights of Stockholders

	
9.1

	
A Participant shall not have any rights to dividends or any other rights as a stockholder of the Company with respect to any Shares until such Shares shall have been issued to him as reflected by the books and records maintained by the Company's transfer agent relating to stockholders of the Company.

 

ARTICLE X - Voluntary Withdrawal/Termination of Employment

	
10.1

	
A Participant may discontinue his payroll deductions under a Subscription Agreement at any time by giving written notice thereof to the Plan Committee, effective for all payroll periods commencing five (5) days after receipt of such notice by the Plan Committee.  The balance in the account of such Participant following such discontinuance shall be promptly refunded to the Participant.  Withdrawal from an Offering pursuant to this Section 10.1 shall not affect an Eligible Employee's eligibility to participate in any other Offering under the Plan.

	
10.2

	
If the Participant's employment with the Company is terminated for any reason other than death while still an Employee, such Participant's rights to purchase Shares under any Subscription Agreement shall immediately terminate.  Any balance remaining in his account as of the date of such termination of employment shall be promptly refunded to the Participant.

	
10.3

	
In the event of the death of an Employee who was a Participant prior to the purchase of the Shares for which he subscribed pursuant to Article VI hereof, the person or persons who acquired by laws of descent and distribution (his "Estate") his rights to purchase Shares under his Subscription Agreement(s), shall have the right within ninety (90) days after the death of the Participant (but in no event later than the termination of the Payment Period) to purchase from the Company that number of Shares subscribed for and not issued to the Participant prior to his death which the balance in the Participant's payroll deduction account is sufficient to purchase.  The failure of the person or persons so acquiring his rights to so give notice of intention to purchase shall constitute a forfeiture of all further rights of the Participant or other persons to purchase such Shares and in such event, the balance in the Participant's payroll deduction account will be refunded, without interest.  If the Participant dies more than fifty (50) days prior to the termination of the Payment Period and his Estate elects to purchase the Shares subscribed for, the Purchase Price for his Shares shall be the percentage, designated pursuant to Section 5.3, of the fair market value on the Offering Date, irrespective of the Purchase Price for other Participants.

  

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ARTICLE XI - Non-Transferability of Subscription Rights

	
11.1

	
During the lifetime of a Participant, the Shares for which he subscribes may be purchased only by him.  No Subscription Agreement of a Participant and no right under or interest in the Plan or any such Subscription Agreement (hereinafter collectively referred to as "Subscription Rights") may be assigned, transferred, pledged, hypothecated or disposed of in any way (whether by operation of law or otherwise), except by the Participant's will or by the applicable laws of descent and distribution, or may be subject to execution, attachment or similar process.  Any assignment, transfer, pledge, hypothecation or other disposition of Subscription Rights, or any levy of execution, attachment or other process attempted upon Subscription Rights, shall be null and void and without effect, and in any such event all Subscription Rights shall, in the sole discretion of the Plan Committee (exercised by written notice to the Participant or to the person then entitled to purchase the Shares under the provisions of Sections 10.3 hereof), terminate as of the occurrence of any such event.

ARTICLE XII - Administration of the Plan

	
12.1

	
The Plan shall be administered by a Plan Committee which shall consist of two (2) or more members of the Board of Directors, none of whom shall be eligible to participate in the Plan.  The members of the Plan Committee shall be appointed, and may be removed, by the Board of Directors.  The Board of Directors shall have the power to remove and substitute for members of the Plan Committee and to fill any vacancy which may occur in the Plan Committee.

	
12.2

	
Unless otherwise determined by the Board of Directors, the members of the Plan Committee shall serve without additional compensation for their services.  All expenses in connection with the administration of the Plan, including, but not limited to, clerical, legal and accounting fees, and other costs of administration, shall be paid by the Company.

	
12.3

	
The Chairman of the Plan Committee shall be designated by the Board of Directors.  The Plan Committee shall select a Secretary who need not be a member of the Plan Committee.  The Secretary, or in his absence, any member of the Plan Committee designated by the Chairman, shall keep the minutes of the proceedings of the Plan Committee and all data, records and documents relating to the administration of the Plan by the Plan Committee.

  

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12.4

	
A quorum of the Plan Committee shall be such number as the Committee shall from time to time determine, but shall not be less than a majority of the entire Plan Committee.  The acts of a majority of the members of the Plan Committee present at any meeting at which a quorum is present shall be the act of the Plan Committee.  Members of the Plan Committee may participate in a meeting by means of telephone conference or similar communications procedure pursuant to which all persons participating in the meeting can hear each other.  The Plan Committee may take action without a meeting if such action is evidenced by a writing signed by at least a majority of the entire Plan Committee.

	
12.5

	
The Plan Committee may, by an instrument in writing, delegate to one or more of its members or to an officer or officers of the Company any of its powers and its authority under the Plan, including the execution and delivery on its behalf of instruments, instructions and other documents.

 

	
12.6

	
It shall be the sole and exclusive duty and authority of the Plan Committee to interpret and construe the provisions of the Plan, to decide any disputes which may arise with regard to the status, eligibility and rights of Employees under the terms of the Plan, and any other persons claiming an interest under the terms of the Plan, and, in general, to direct the administration of the Plan.

	
12.7

	
The Plan Committee may adopt, and from time to time amend, such rules and regulations consistent with the purposes and provisions of the Plan, as it deems necessary or advisable to administer and effectuate the Plan.

	
12.8

	
The Plan Committee may shorten, lengthen (but not beyond thirty (30) days) or waive the time required by the Plan for the filing of any notice or other form under the Plan.

	
12.9

	
The discretionary powers granted hereunder to the Plan Committee shall in no event be exercised in any manner that will discriminate against individual employees or a class of employees or discriminate in favor of employees who are shareholders, officers, supervisors or highly compensated employees of the Company.

ARTICLE XIII - Valuation of Shares of Common Stock

	
13.1

	
For purposes of the Plan, the "fair market value" of a share of Common Stock as of any date shall be determined as follows:

	
  

	
[a]

	
If the Common Stock is then listed on a national securities exchange, the "fair market value" shall be the closing price of a share of Common Stock on such exchange on such date, or, if there has been no sale of shares of Common Stock on that date, the closing price of a share of Common Stock on such exchange on the last preceding business day on which shares of Common Stock were traded.

	
  

	
[b]

	
If the Common Stock is then listed on the National Association of Securities Dealers Automatic Quotation System National Market System, the "fair market value" shall be the average of the high and low sales prices of a share of Common Stock on that date, or if there has been no sale of shares of Common Stock on that date, the average of the high and low sales prices of Common Stock on the last preceding business day on which shares of Common Stock were traded.

 

  

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ARTICLE XIV - Adjustments in Certain Events

	
14.1

	
If (i) the Company shall at any time be involved in a transaction to which sub-section [a] of Section 424 of the Code is applicable, (ii) the Company shall declare a dividend payable in, or shall sub-divide or combine, its Common Stock, or (iii) any other event shall occur which in the judgment of the Board of Directors necessitates action by way of adjusting the terms of the outstanding Subscription Agreements, the Board of Directors shall take any such action as in its judgment shall be appropriate to preserve Participant rights substantially proportionate to the rights existing prior to such event.  To the extent that such action shall include an increase or decrease in the number of shares of Common Stock subject to outstanding Subscription Agreements, the aggregate number of shares available under Article III hereof for issuance under the Plan pursuant to outstanding Subscription Agreements and Subscription Agreements which may be entered into, and the aggregate number of shares available for issuance in any Offering and the number which may be subscribed for, shall be proportionately increased or decreased, as the case may be.  No action shall be taken by the Board of Directors under the provisions of this Article XIV which, in its judgment, would constitute a modification, extension or renewal of the Subscription Agreement (within the meaning of Section 424[h] of the Code), or would prevent the Plan from qualifying as an "employee stock purchase plan" (within the meaning of Section 423 of the Code).  The determination of the Board of Directors with respect to any matter referred to in this Article XIV shall be conclusive and binding upon each Participant.

ARTICLE XV - Termination and Amendment of the Plan

	
15.1

	
The Board of Directors may, without further approval by the stockholders of the Company, at any time terminate or amend the Plan without notice, or make such modifications of the Plan as it shall deem advisable; provided that the Board of Directors may not, without prior approval by the holders of a majority of the outstanding shares of Common Stock of the Company, amend or modify the Plan so as to (i) increase the maximum number of shares of Common Stock which may be issued under the Plan (except as contemplated in Article XIV hereof), (ii) extend the term during which Offerings may be made under the Plan or (iii) increase the maximum number of Shares which an Eligible Employee is entitled to purchase (except as contemplated in Article XIV hereof); and provided further that the Board of Directors may not amend or modify the Plan in any manner which would prevent the Plan from qualifying as an "employee stock purchase plan" (within the meaning of Section 423 of the Code).  No termination, amendment or modification of the Plan may, without the consent of a Participant, adversely affect the rights of such Participant under an outstanding Subscription Agreement.

  

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ARTICLE XVI - Miscellaneous

	
16.1

	
Unless otherwise expressly provided in the Plan, all notices or other communications by a Participant to the Company under or in connection with the Plan shall be deemed to have been duly given when received by the Secretary of the Company or when received in the form specified by the Company at the location and by the persons, designated by the Company for the receipt thereof.

	
16.2

	
Notwithstanding anything hereunder to the contrary, the offer, sale and delivery by the Company of Shares under the Plan to any Eligible Employee is subject to compliance with all applicable securities regulation and other federal and state laws.  The terms of this Plan shall be construed under the laws of the State of Connecticut.

ARTICLE XVII - Effective Date

	
17.1

	
The Plan shall become effective at such time as the Plan has been adopted by the Board of Directors or such later date as shall be designated by the Board of Directors upon its adoption of the Plan; provided, however, that the Plan and all Subscription Agreements entered into thereunder shall be, and be deemed to have been, null and void if the Plan is not approved by the holders of a majority of the outstanding shares of Common Stock of the Company within twelve (12) months after the date on which the Plan is adopted by the Board of Directors.

 

11INTRALINKS HOLDINGS, INC.

SEPARATION AND INDEPENDENT CONTRACTOR
SERVICES AGREEMENT

This Separation
and Independent Contractor Services Agreement (the “Agreement”) is made and entered into this 30th
day of August, 2012 by and between IntraLinks Holdings, Inc. and/or one or more of its subsidiaries (the “Company”),
and Anthony Plesner, residing at XXXXXXXXXXXXXXXXXXXX (“Contractor”).
Upon termination of Contractor’s employment with the Company, the Company desires to retain Contractor as an independent
contractor to perform consulting services for the Company and Contractor is willing to perform such services, on terms set forth
more fully below. In consideration of the mutual promises contained herein, the parties agree as follows:

1.EMPLOYMENT STATUS

(a)Effective
as of September 1, 2012 (the “Separation Date”), Contractor hereby resigns from his position of Chief Financial
Officer and Chief Administrative Officer of the Company, and as a Section 16 Officer of the Company, as well as any other officer
titles or senior executive roles he currently holds with the Company or any of its subsidiaries. In addition, Contractor hereby
irrevocably resigns as an employee of the Company effective as of the Separation Date. The Company hereby acknowledges and accepts
the foregoing resignations of Contractor. Prior to the Separation Date, Contractor will sign all reports required to be filed
by Section 13 or 15(d) of the Securities Exchange Act of 1934 and related documents.

(b)On the first
regular payroll date following the Separation Date, the Company will pay Contractor a lump sum (less applicable taxes and withholding)
equal to all accrued but unpaid salary, and accrued but unused vacation or PTO time as of the Separation Date. The Company will
also reimburse Contractor for all business-related expenses that he incurred prior to the Separation Date so long as such expenses
are accompanied by supporting receipts and are submitted and approved in accordance with the Company’s regular practices.
The Separation Date shall be the date of the “qualifying event” under the Consolidated Omnibus Budget Reconciliation
Act of 1985 (“COBRA”).

(c)Other than
as specified herein and as otherwise required by law, Contractor affirms that any entitlement Contractor has or has had as an employee
of the Company under any Company benefit plan, program contract or policy, including the employment Agreement, dated as of March
18, 2005, by and between Intralinks, Inc. and the Contractor (the “Employment Agreement”), terminates as of
the Separation Date.

(d)Contractor
represents and warrants that he is not aware of any violation of law or Company policy by the Company or anyone acting on its behalf
or of any matter required to be disclosed by or on behalf of the Company to any local, state or federal governmental agency or
entity or self-regulatory agency that has not been so disclosed as required.

2.SERVICES AND COMPENSATION

(a)Contractor
agrees to perform the services (the “Services”) described in Exhibit A, attached hereto, for the
Company. Contractor shall provide the Services during the period beginning on the Separation Date and ending on June 30, 2013 (the
“Work Period”) unless sooner terminated in accordance with Section 10.

(b)During the
Work Period, the Company agrees to pay Contractor the compensation set forth in Exhibit A for the Services. Except
as noted on Exhibit A, all payments set forth in this Section 2 and on Exhibit A shall be subject to all applicable federal,
state and/or local taxes, and the Company may withhold from any amounts payable to Contractor (including any amounts payable pursuant
to this Agreement) in order to comply with such withholding obligations.

    	 

    	 	

    
(c)On the Separation
Date, Contractor agrees to sign the Release set forth in Exhibit B.

3.CONFIDENTIALITY

(a)“Confidential
Information” means any Company proprietary information, technical data, trade secrets or know-how, including, but not
limited to, all Work Product as defined in Section 3(a) below, research, product plans, products, services, customers, customer
lists, markets, source code, algorithms, software, developments, techniques, improvements, invention (whether patentable or not),
works of authorship, processes, formulas, technology, designs, drawings, engineering, hardware configuration information, marketing,
finances or other business information disclosed by the Company either directly or indirectly in writing, orally or by drawings
or inspection of parts or equipment. Without limiting the generality of the foregoing, Confidential Information shall include the
terms of this Agreement and any information relating to any Company employee, customer or supplier obtained in connection with
Contractor's relationship with the Company.

(b)Contractor
will not, during or subsequent to the term of this Agreement, use the Company's Confidential Information for any purpose whatsoever
other than the performance of the Services on behalf of the Company or disclose the Company's Confidential Information to any third
party except to the extent disclosure is required by law or legal process, or to enforce Contractor’s rights under this Agreement.
It is understood that said Confidential Information shall remain the sole property of the Company. Contractor further agrees to
take all reasonable precautions to prevent any unauthorized disclosure of such Confidential Information. Confidential Information
does not include information which: (i) is known to Contractor at the time of disclosure to Contractor by the Company as evidenced
by written records of Contractor, other than as a result of any prior services rendered by Contractor to the Company; (ii) has
become publicly known and made generally available through no wrongful act of Contractor; or (iii) has been rightfully received
by Contractor from a third party who, to Contractor’s knowledge, is authorized to make such disclosure. Contractor agrees
that Contractor will not, during the term of this Agreement, use for or disclose to the Company any proprietary information (including
but not limited to any trade secret) of any former or current employer of Contractor or other person or entity to the extent such
use or disclosure would violate any agreement, duty, law or regulation to which Contractor, or, to Contractor's knowledge, the
Company, is subject, unless consented to in writing by such employer, person or entity. Contractor will indemnify the Company and
hold it harmless from and against all claims, liabilities, damages and expenses, including reasonable attorney’s fees and
costs of suit, arising out of or in connection with any violation or claimed violation of any law, regulation or third party's
rights resulting in whole or in part from the Company's use of information or Work Product furnished by Contractor under this Agreement.

(c)Contractor
recognizes that the Company has received and in the future will receive from third parties their confidential or proprietary information
subject to a duty on the Company's part to maintain the confidentiality of such information and to use it only for certain limited
purposes. Contractor agrees that Contractor owes the Company and such third parties, during the term of this Agreement, a duty
to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person, firm
or corporation or to use it except as necessary in carrying out the Services for the Company consistent with the Company's agreement
with such third party or as required by law or legal process.

(d)Upon the termination
of this Agreement, or upon the Company's earlier request, Contractor will deliver to the Company all of the Company's property
or tangible Confidential Information that Contractor may have in Contractor's possession or control.

4.OWNERSHIP

(a)Contractor
agrees that all works of authorship, notes, records, drawings, designs, inventions, improvements, developments, discoveries, ideas,
techniques, know-how and trade secrets, whether or not patentable, conceived, made or discovered by Contractor, solely or in collaboration
with others, during the period of this Agreement which relate in any manner to the business of the Company that Contractor may
be directed to undertake, investigate or experiment with, or which Contractor may become associated with in work, investigation
or experimentation in the line of business of the Company in performing the Services hereunder (collectively, “Work Product”),
are the sole property of the Company. In addition, any Work Product that constitute works of authorship shall be considered "works
made for hire" as that term is defined in the United States Copyright Act. Contractor further agrees to assign (or cause to
be assigned) and does hereby assign fully to the Company all Work Product and any copyrights, patents, mask work rights or other
intellectual property rights relating thereto.

    	2

    	 

    
(b)Contractor
agrees to assist the Company, or its designee, at the Company's expense, in every proper and reasonable way to secure the Company's
rights in the Work Product and any copyrights, patents, mask work rights or other intellectual property rights relating thereto
in any and all countries, including the disclosure to the Company of all pertinent information and data with respect thereto, the
execution of all applications, specifications, oaths, assignments and all other instruments which the Company shall deem necessary
in order to apply for and obtain such rights and in order to assign and convey to the Company, its successors, assigns and nominees
the sole and exclusive right, title and interest in and to such Work Product, and any copyrights, patents, mask work rights or
other intellectual property rights relating thereto. Contractor further agrees that Contractor's obligation to execute or cause
to be executed, when it is in Contractor's power to do so, any such instrument or papers shall continue after the termination of
this Agreement.

(c)Contractor
agrees that if in the course of performing the Services, Contractor incorporates into any Work Product developed hereunder any
invention, improvement, development, concept, discovery, work or other proprietary information owned by Contractor or in which
Contractor has an interest, the Company is hereby granted and shall have a nonexclusive, royalty-free, perpetual, irrevocable,
worldwide license to make, have made, modify, use and sell such item as part of or in connection with such Work Product.

(d)Contractor
agrees that if the Company is unable because of Contractor's unavailability, dissolution, mental or physical incapacity, or for
any other reason, to secure Contractor's signature to apply for or to pursue any application for any United States or foreign patents
or mask work or copyright registrations covering the Work Product assigned to the Company above, then Contractor hereby irrevocably
designates and appoints the Company and its duly authorized officers and agents as Contractor's agent and attorney in fact, to
act for and in Contractor's behalf and stead to execute and file any such applications and to do all other lawfully permitted acts
to further the prosecution and issuance of patents, copyright and mask work registrations thereon with the same legal force and
effect as if executed by Contractor.

5.DISCLOSURE AND REPORTS

Contractor agrees
that Contractor will (i) promptly disclose in writing to the Company all Work Product, (ii) from time to time during the term of
this Agreement or any extension thereof keep the Company advised as to Contractor's progress in performing the Services hereunder,
and (iii) as requested by the Company, prepare written reports with respect thereto. It is understood that the time required in
the preparation of such written reports shall be considered time devoted to the performance of Contractor's Services.

6.NON-DISPARAGEMENT

(a)Contractor
agrees not to make disparaging, critical or otherwise detrimental comments to any person or entity concerning (i) the Company,
its officers, directors and employees; (ii) the products, services or programs provided or to be provided by the Company; (iii)
the business affairs or the financial condition of the Company; or (iv) the circumstances surrounding Contractor’s employment
or consulting relationship with the Company. Notwithstanding the foregoing, nothing in this Agreement shall prevent Contractor
from providing truthful testimony in the context of legal, investigative or related proceedings.

(b)The Company
agrees to instruct its officers, directors and senior managers not to make disparaging, critical or otherwise detrimental comments
to any person or entity concerning Contractor. Subject to compliance by Contractor with his obligations under this Agreement, the
Company agrees to provide Contractor with a favorable oral reference to a prospective employer or other third party. The Company
will direct all employer and other third party inquiries regarding Contractor’s relationship with the Company, including
his prior employment relationship, to the Company’s Chief Executive Officer or General Counsel. 

    	3

    	 

    

7. FUTURE
COOPERATION

			Contractor agrees to cooperate reasonably with the Company and all of its affiliates (including
its and their outside counsel) in connection with the contemplation, prosecution and defense of all phases of existing, past and
future litigation or regulatory investigation about which the Company believes Contractor may have knowledge or information. Contractor
further agrees to make himself available at mutually convenient times during and outside of regular business hours as reasonably
deemed necessary by the Company’s counsel in connection with such litigation or regulatory investigation. Contractor agrees
to appear without the necessity of a subpoena to testify truthfully in any legal or regulatory proceedings in which the Company
calls Contractor as a witness or where the Company believes that his testimony is necessary to the Company’s defense in such
proceedings. The Company will endeavor to provide Contractor reasonable notice when requesting Contractor’s services under
this Section 7.

8. Sections
of the Employment Agreement, Stock and Option Agreements and Insider Trading Policy Still in Effect.

Contractor is a
party to the Employment Agreement, certain restricted stock and stock option agreements under the TA Indigo Holding Corporation
2007 Stock Option and Grant Plan, the IntraLinks Holdings, Inc. 2007 Stock Option and Grant Plan and the IntraLinks Holdings, Inc.
2010 Equity Incentive Plan (collectively, as modified herein, the “Stock and Option Agreements”) and is subject
to the IntraLinks Holdings, Inc. Statement of Company Policy on Insider Trading and Disclosure (the “Insider Trading Policy”).
Contractor acknowledges that certain of Contractor’s obligations under the Employment Agreement, the Stock and Option Agreements
and the Insider Trading Policy were intended to, and do in fact, survive the termination of Contractor’s employment with
the Company. Contractor hereby reaffirms Contractor’s obligations existing under the Employment Agreement, including with
respect to noncompetition, non-solicitation and nondisclosure as set forth in Section 6 thereof, the Stock and Option Agreements
and the Insider Trading Policy all of which are incorporated by reference into this Section 8 and shall remain in full force and
effect. Contractor further agrees and acknowledges that nothing contained in this General Release shall be construed to relieve
Contractor of such ongoing obligations including, without limitation, those set forth in Section 6 of the Employment Agreement.
Contractor further acknowledges that the payments and benefits provided under this Agreement are contingent upon Contractor’s
continued compliance with any ongoing obligations under the Employment Agreement, the Stock and Option Agreements and the Insider
Trading Policy and that such payments and benefits shall cease in the event Contractor breaches any of Contractor’s contractual
obligations set forth in the Employment Agreement, the Stock and Option Agreements or the Insider Trading Policy.

9.STANDARD OF PERFORMANCE

Contractor’s
performance under this Agreement shall be conducted with due diligence and in full compliance with the highest professional standards
of practice in the industry and all results will be Contractor’s independent work. Contractor shall comply with all applicable
laws and Company safety rules in the course of performing the Services. If Contractor’s work requires a license or permit,
Contractor has obtained that license or permit and it is in full force and effect.

10.CONFLICTING OBLIGATIONS

Contractor certifies that Contractor
has no outstanding agreement or obligation that is in conflict with any of the provisions of this Agreement, or that would preclude
Contractor from complying with the provisions hereof, and further certifies that Contractor will not enter into any such conflicting
Agreement during the term of this Agreement.

11.TERM AND TERMINATION

(a)This Agreement will commence on
the date first written above and will continue until the end of the Work Period, or until sooner terminated as provided below.

    	4

    	 

    
(b)Notwithstanding
anything herein to the contrary, the Company may terminate this Agreement upon 30 days’ prior written notice if Contractor
refuses to or is unable to perform the Services (other than as a result of a medical disability) or is in breach of any material
provision of this Agreement, and Contractor fails to cure such failure of performance or breach within such notice period. The
parties agree to discuss any dispute giving rise to a notice of breach.

(c)Upon such termination
all rights and duties of the parties toward each other shall cease except:

(i)that the
Company shall be obliged to pay, within thirty (30) days of the effective date of termination, all amounts owing to Contractor
for Services completed and accepted by the Company prior to the termination date and related expenses, if any, in accordance with
the provisions of Section 1 (Services and Compensation) hereof; and

(ii)Sections 3,
4, 6, 7, 8, 11(c), 12, 13, 14, 15 and 16 shall survive termination of this Agreement. Both Contractor and the Company agree that
either of them is entitled to communicate Contractor’s obligations under this Agreement to any future or potential client
or employer of Contractor, and that Contractor is entitled to communicate with his advisors and family about the terms of this
Agreement.

12.SUBCONTRACTING; ASSIGNMENT

Contractor shall not
subcontract or assign any obligations hereunder to any third party without the express prior written consent of the Company. Neither
this Agreement nor any right hereunder or interest herein may be assigned or transferred by Contractor without the express written
consent of the Company.

13.INDEPENDENT
CONTRACTOR

Nothing in this Agreement
shall be construed in any way to constitute Contractor as an agent, employee or representative of the Company, but Contractor shall
perform the Services hereunder as an independent contractor. Contractor agrees to furnish (or reimburse the Company for) all tools
and materials necessary to accomplish this contract, and shall incur all expenses associated with performance, except as expressly
provided on Exhibit A of this Agreement. Contractor acknowledges and agrees that Contractor is obligated to report as income
all compensation received by Contractor pursuant to this Agreement, and Contractor agrees to and acknowledges the obligation to
pay all self-employment and other taxes that may be due thereon.

14.EQUITABLE
RELIEF

Contractor agrees
that it would be impossible or inadequate to measure and calculate the Company's damages from any breach of the covenants set forth
in Sections 3, 4, 6, 7 or 8 herein. Accordingly, Contractor agrees that if Contractor breaches Sections 3, 4, 6, 7 or 8, the Company
will have available, in addition to any other right or remedy available, the right to obtain from any court of competent jurisdiction
an injunction restraining such breach or threatened breach and specific performance of any such provision. Contractor further agrees
that no bond or other security shall be required in obtaining such equitable relief and Contractor hereby consents to the issuances
of such injunction and to the ordering of such specific performance.

15.GOVERNING
LAW AND LEGAL ACTIONS

This Agreement shall
be governed by the laws of the State of New York, without regard to its conflicts of laws principles. The parties hereby consent
to the jurisdiction of the state and federal courts located in New York, New York for the adjudication of any case or controversy
arising under or relating to this Agreement, and each party hereby irrevocably waives any right to a jury trial in any such action
or proceeding.

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16.NOTICES;
ENTIRE AGREEMENT

All notices under
this Agreement shall be addressed to the other party at the address shown below or such other address as either party may notify
the other of and shall be deemed given (i) upon delivery to the party to be notified if delivered by hand or professional courier
service or confirmed fax, or (ii) three days after deposited in the United States mail, postage prepaid, registered or certified
mail, return receipt requested. This Agreement is the entire agreement of the parties and supersedes any prior agreements between
them with respect to the subject matter hereof, except that the parties agree that the terms of that certain Indemnification Agreement
between Contractor and the Company dated November 29th, 2011 (the “Indemnification Agreement”) shall
remain in full force and effect pursuant to the terms thereof as shall the benefits of the Company’s Officers and Director’s
Insurance policies and except as provided in Section 8 of this Agreement.

17.COUNTERPARTS

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

 

    	6

    	 

    

IN WITNESS WHEREOF, the
parties hereto have executed this Agreement as of the day and year first above written.

 

	 	

COMPANY

INTRALINKS HOLDINGS, INC.

	 	 
	 	By: 	/s/ RONALD
W. HOVSEPIAN
	 	Name: Ronald W. Hovsepian
	 	Title: President and Chief Executive Officer

Address: 150 E. 42nd Street, 8th
Floor

New York, NY 10017

 

	 	CONTRACTOR
	 	 
	 	By: 	/s/ ANTHONY
PLESNER
	 	Name: Anthony Plesner

Address: XXXXXXXXXXXXXXXX

XXXXXXXXXX

 

 

    	7

    	 

    

EXHIBIT A TO SEPARATION AND INDEPENDENT
CONTRACTOR SERVICES AGREEMENT DATED AUGUST 30, 2012

SERVICES AND COMPENSATION

		1.	Contact.Contractor's principal Company
contacts shall be the Chief Financial Officer and General Counsel.

		2.	Services.

(a)The
services to be provided by Contractor during the Work Period shall include assisting the Company from time to time, at the request
of Chief Financial Officer or the General Counsel, in any matter reasonably related to the duties previously performed by Contractor
as an employee of the Company and such other transition duties or cooperation as may be reasonably requested from time to time,
including cooperating with the Company and all of its affiliates (including its and their outside counsel) in connection with the
contemplation, prosecution and defense of all phases of existing, past and future litigation (collectively, the “Services”).
Contractor shall control the means by which he provides Services, but acknowledges and agrees that the Company is retaining him
to provide the Services because his skills and knowledge are exceptional and unique and, therefore, that he will provide the Services
personally. The Company will provide Contractor with reasonable notice prior to requiring him to provide Services to the Company
during the Work Period that involve more than an immaterial time commitment by Contractor.

(b)It
is understood Services are provided on a non-exclusive basis and Contractor may accept employment with or become engaged to provide
services to other entities (subject to Section 6 of the Employment Agreement). The parties will cooperate to enable Contractor
to meet such other commitments in conjunction with performance of the Services. Acceptance or performance of such other commitments
(provided Contractor complies with Section 6 of the Employment Agreement) shall not constitute a breach of this Agreement by Contractor,
nor be a basis or justification for suspension or termination of this Agreement by the Company.

		3.	Compensation.

(a)The Company shall pay Contractor
a total of $ 100,000 during the term of this Agreement, at a monthly rate of $10,000 per month for each month during the Work Period,
pro-rated for any partial month of the Work Period.

(b)If, and only if, bonuses are
paid under the Company’s 2012 Executive Incentive Bonus Plan (the “Incentive Plan”), Contractor will receive
75% of any bonus amount he would have otherwise earned under the Incentive Plan had he remained an employee of the Company.

(c)The Company shall reimburse
Contractor for reasonable travel and business expenses incurred by Contractor in performing Services pursuant to this Agreement
and authorized in advance in writing.

(d)Contractor shall provide the
Company with monthly invoices detailing the fees and expense reimbursements that Contractor believes are due under this Agreement
by the 15th of each month during the Work Period, and shall itemize and provide receipts for expenses upon request.
The Company agrees to pay Contractor his monthly fee and any expenses due under an invoice by no later than the 30th
day of each month..

    	 

    	 

    
(e)In accordance with the terms
of the IntraLinks Holdings, Inc. 2007 Stock Option and Grant Plan (the “Plan”) and stock option award agreement
relating to the award of an option to purchase 100,000 shares of the Company’s common stock (the “Option Shares”)
granted by the Company to Contractor on February 26, 2010, the Company confirms and agrees that, subject to compliance by Contractor
of the terms and conditions contained in this Agreement (including the Release attached as Exhibit B hereto), the Option
Shares will continue to vest during the Work Period according to the vesting terms of the stock option award agreement relating
to the Option Shares and, on June 30, 2013, all of the Option Shares shall vest and become fully exercisable and non-forfeitable
if Contractor remains in continuous service until the last day of the Work Period. Contractor agrees to execute, acknowledge, and
deliver to the Company all such documents and agreements reasonably necessary, in the Company’s discretion, to enable the
Company to accomplish the objectives described in this Section 3(e). Contractor acknowledges and agrees that all of his other equity
awards issued under the Plan and the Intralinks Holdings, Inc. 2010 Equity Incentive Plan other than the Option Shares shall lapse
as of the Separation Date and will not be exercisable. Subject to the terms of the Plan, all of the Option Shares that have vested
will be exercisable for 90 days after the end of the Work Period. Any portion of the Option Shares that are not exercised during
such 90-day period will be immediately forfeited and become null and void. The exercise of any Option Shares shall be subject to
the terms of the Plan.

 

    	-2-

    	 

    

 

EXHIBIT B TO SEPARATION AND INDEPENDENT
CONTRACTOR SERVICES AGREEMENT DATED AUGUST 30, 2012

Release

WHEREAS, Contractor was an employee-at-will
of the Company;

WHEREAS, the Company and Contractor
have agreed to amicably resolve all issues arising out of their employment relationship, including agreeing to payment of additional
consideration, as set forth below; and

WHEREAS, Contractor, in consideration
of the Separation and Independent Contractor Services Agreement between the Company and the Contractor dated August 30, 2012 (the
“Agreement”) and the payments made and to be made thereunder, has agreed to release and forever discharge the
Company from any and all liabilities, claims or obligations arising from the employment relationship.

NOW, THEREFORE, in consideration
of the covenants contained herein, and the promises set forth above, and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties agree as follows:

		1.	Contractor acknowledges that Contractor’s employment terminated effective September 1, 2012.

		2.	Nothing in this Release shall be construed to prevent Contractor from filing a charge with, or participating in an investigation
conducted by any governmental agency, including, without limitation, the United States Equal Employment Opportunity Commission
(the “EEOC”), or applicable state/city fair employment practices agency, to the extent required or permitted
by law. Nevertheless, Contractor gives up the right to receive any relief whatsoever, including but not limited to financial benefit
or monetary recovery from any lawsuit filed or settlement reached by the EEOC or anyone else with respect to any claims released
and waived in this Agreement.

		3.	Notwithstanding paragraph 5, Contractor understands and agrees that by signing this Release, Contractor is not releasing claims
that relate to: (i) any claims arising after the date Contractor signs this Agreement; (ii) any claims for enforcement of the Agreement,
the Indemnification Agreement (as defined in Section 14 of the Agreement) or this Release; (iii) any rights or claims to workers’
compensation or unemployment benefits; (iv) claims for accrued, vested benefits under any employee benefit plan of the Company
in accordance with the terms of such plans and applicable law; (v) any claims or rights which cannot be waived by law and/or (vi)
any continuing rights for indemnification under the Company’s charter or bylaws in effect as of the date hereof or under
the Indemnification Agreement.

		4.	For good and valuable consideration including but not limited to the opportunity to enter into the Agreement and this Release,
Contractor, on behalf of himself, his heirs, executors, administrators, successors and assigns, hereby voluntarily and unconditionally
releases and waives his rights to pursue any and all legal claims, rights, debts, liabilities, demands, causes of action, obligations,
complaints, grievances, losses, covenants, contracts, agreements, promises, damages, lawsuits or administrative proceedings in
United States federal or state courts or administrative agencies, known or unknown, suspected or unsuspected, arising from the
beginning of the world through the date of this Release agreement, against the Company, its employee benefits plans, parent, subsidiary
or affiliated companies, and/or their respective present or former directors, officers, employees, agents and fiduciaries, including,
without limitation, any claims, lawsuits or administrative proceedings arising out of or in any way relating to the Contractor's
employment with the Company, termination or resignation from such employment. This Release and waiver shall include, but is not
limited to, any and all claims of unlawful employment discrimination in regard to citizenship, immigration status, national origin,
gender, sexual orientation, religion, race, physical or mental disability, marital status or age, whether such claims may be brought
pursuant to state or local law or the federal equal employment, fair employment, civil or human rights laws, codes, ordinances,
or the laws of the United States, including, but not limited to, the Americans With Disabilities Act, the Worker Adjustment and
Restraining Notification Act, the Age Discrimination in Employment Act (the “ADEA”), the Older Workers' Benefit
Protection Act, Title VII of the Civil Rights Act, as amended, the Family and Medical Leave Act, the Employee Retirement Income
Security Act of 1974, as amended, the Fair Labor Standards Act, as amended, New York's Executive Laws, New York’s Labor Laws,
New York City Human Rights Laws, the California Fair Employment and Housing Act, any provisions of the California Labor Code pertaining
to hours of work or the payment of wages, including (but not limited to) California Labor Code sections 200-272, 500-558, 1171-1205,
any Wage Orders promulgated by the California Industrial Welfare Commission, and any and all claims arising out of his employment
or lack of employment with the Company. This Release and waiver shall further include, but not be limited to, all claims under
local, state and federal law, including, but not limited to, wrongful employment termination, breach of express or implied contract
of employment, defamation, intentional infliction of emotional distress, negligent infliction of emotional distress, express or
implied tort, invasion of privacy, retaliation, breach of the covenant of good faith and fair dealing, or any other tort or contract
claim, or other claims for punitive or compensatory damages relating in any manner whatsoever to Contractor’s employment
or lack of employment with the Company.

 

    	-3-

    	 

    
 

		5.	With respect to any claim of age discrimination brought pursuant to the ADEA, it is expressly understood that Contractor is
hereby waiving rights or claims under the ADEA in a “knowing and voluntary” manner, in accordance with the meaning
of those terms as set forth in 29 U.S.C. §626(f)(1). In connection therewith, Contractor, by signing this Release, hereby
acknowledges and represents that:

		a.	She/he has been advised that she/he has the opportunity to consult with an attorney in connection with the execution of this
Agreement, and that she/he has a period of up to twenty one (21) days in which to consider this Agreement, including his waiver
of statutory rights for age discrimination under this Agreement; and

		b.	in accordance with the provisions of 29 U.S.C. §626(f)(1), she/he shall have a period of seven (7) days following the
execution of this Agreement (the “Revocation Period”) in which to revoke this Agreement by providing written
notice of such revocation by hand or overnight courier service (e.g. FedEx, UPS) delivery to:

IntraLinks Holdings, Inc.

150 East 42nd St.,
8th Floor

New York, NY 10017

Attention: Human Resources

		6.	In further consideration of the Company’s willingness to pay amounts provided for in the Agreement and this Release to
which Contractor is not otherwise entitled, Contractor hereby agrees:

		a.	Not to allege that the ending of Contractor’s employment relationship with the Company suggests any violation of law
or Company policy;

		b.	Not to engage in actions contrary to the interests of the Company except: (i) to enforce the terms of the Agreement, the Indemnification
Agreement or this Release; (ii) pursue any rights to indemnification under the Company’s charter or bylaws in effect as of
the date hereof or the Indemnification Agreement; or (iii) to the extent required by law; provided, however, that if Contractor
receives a subpoena or similar demand relating in any way to the Company, Contractor shall promptly notify the Company so that
the Company shall have the ability to seek an appropriate protective order prior to Contractor making any disclosure in response
to such subpoena or demand;

		c.	Except as necessary or appropriate in connection with performing Services under the Agreement, not to remove from the custody
of the Company, any documents, facsimiles, computer tapes, disks or printouts, or other written or electronically-produced information
of a confidential nature;

 

    	-4-

    	 

    

		d.	To return to the Company any Company property in the Contractor’s possession or otherwise given to Contractor for his
use, including but not limited to, credit cards, keys, identification badges, Company property, assets, manuals, notes, reports,
agreements of any kind or nature belonging to or pertaining to the Company, except that Contractor may retain his Company laptop
and iPhone provided all Confidential Information (as defined in the Agreement) has been removed from such devices, following expiration
of the Agreement;

		e.	To pay in full any outstanding balance on any corporate credit card issued to Contractor; and

		f.	To give to the Company all passwords/encryption keys for Company-related files which are password protected/encrypted.

		7.	Contractor represents and warrants that he : (i) is not aware of any violation of law or Company policy by the Company or anyone
acting on its behalf; (ii) is not aware of any matter required to be disclosed by or on behalf of the Company to any local, state
or federal governmental agency or entity or self-regulatory agency (each, a “Regulatory Entity”), including
but not limited to the U.S. Department of Labor, New York Department of Labor and/or the California Division of Labor Standards
Enforcement, California Department of Fair Employment and Housing, the U.S. Securities and Exchange Commission, the New York Stock
Exchange or the Equal Employment Opportunity Commission, that has not been so disclosed as required; or (iii) has not made or filed
any complaint, charge, or grievance against the Company with any Regulatory Entity.

		8.	This Release covers and includes all claims that Contractor has against the Company, whether actually known or not, despite
the fact that California Civil Code Section 1542 may provide otherwise. Each party expressly waives all rights and benefits available
to him / it in any capacity under the provisions of Section 1542, which provides as follows:

A general release does not extend
to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which
if known must materially affect the settlement with the debtor.

		9.	Contractor affirms that, in making this Release, he is not relying on, and has not relied on, any representation or statement
by the Company or its attorneys with respect to any facts surrounding the termination of his employment or rights he may have or
assert in connection therewith. Contractor fully understands and warrants that, if any fact on which he relied in executing this
Release be found thereafter to be other than, or different from, the facts now believed by him to be true, Contractor expressly
accepts and assumes the risk of such possible difference in fact and acknowledges that this Release shall be and remains effective
notwithstanding any such difference in fact.

		10.	In the event Contractor so notifies the Company in writing of his decision to revoke this Release within the Revocation Period,
he will waive and forfeit any entitlement to the amounts identified in the Agreement, and the Company shall have no further obligation
to make said payments to Contractor. Both parties understand that Contractor’s decision to terminate this Release operates
to terminate Contractor’s employment effective as of September 1, 2012.

		11.	This Release shall be binding upon and shall inure to the benefit of the parties hereto and their heirs, administrators, executors,
representatives, successors, and assigns. Contractor represents and warrants that no person other than Contractor has any interest
or right in the matters referred to herein, that Contractor has the sole right and exclusive authority to execute this Release,
and that Contractor has not sold, assigned, transferred, conveyed, or otherwise disposed of any claim or demand relating to any
matter covered by this Release .

		12.	Should any of the provisions set forth herein be determined to be invalid by any court, agency or any other tribunal of competent
jurisdiction, such determination shall not affect the enforceability of the other provisions herein and, to this end, the provisions
of this Release are declared to be severable.

 

    	-5-

    	 

    

		13.	No other consideration has or will be furnished or paid other than the consideration herein recited. Contractor acknowledges
and agrees that the payments set forth in the Agreement: (i) are in lieu of any termination benefits that Contractor may have been
entitled to under the IntraLinks, Inc. Senior Executive Severance Plan or other agreement, policy or plan of the Company in connection
with the termination of his employment with the Company; (ii) represent payments to which Contractor would not otherwise be entitled
to but for his agreement to and execution of the Agreement and this Release; and (iii) exceed any payment, benefit, or other thing
of value to which Contractor might otherwise be entitled under any policy, procedure or plan of the Company and/or any other agreement
between Contractor and the Company in connection with the termination of his employment with the Company.

		14.	Contractor and the Company agree that this Release may be executed in multiple counterparts, including a facsimile copy, and
that it is the intent of Contractor and the Company that a copy of this Release signed by either Contractor or the Company shall
be deemed to constitute an original, and shall be fully enforceable against such party.

		15.	The Agreement and Release embody the entire understanding and agreement of the parties hereto in relation to the subject matter
hereof and, with exception to the promises, agreements, and covenants referenced in paragraph 16, no promise, condition, representation
or warranty, express or implied, not set forth herein shall bind any party hereto. No provision of this Release may be modified,
waived or discharged, unless such modification or discharge is agreed to in a written document signed by both parties to this Release.
No waiver by either party hereto of any breach by the other party of any provision of this Release shall be deemed a waiver of
similar or dissimilar provisions at the same or at any prior or subsequent time. No such waiver by the Company shall be effective
unless it shall be set forth in writing and signed by the Chief Executive Officer of the Company.

		16.	Notwithstanding any provision hereof to the contrary, nothing in this Release shall supersede, cancel, or otherwise affect
any provisions of any confidentiality, non-competition and/or non-solicitation agreement and restrictive covenants in effect between
Contractor and the Company which survive the termination of Contractor’s employment with the Company. Contractor further
acknowledges the Company is and shall remain the sole owner of all rights, title, and ownership, intellectual property, and other
interests in and to any and all inventions, original works of authorship, developments, discoveries, improvements, derivative works,
algorithms, file layouts, formulas, computer programs, source or object code, compositions, trade secrets, designs, processes,
techniques, know-how and data, innovations and ideas, whether or not patentable, including, but not limited to, information regarding
products, procedures, methods, equipment, compositions, technology, formulas, research and development programs, sales methods,
cost of production and overhead, customer lists, customer usages and requirements, and other confidential technical or business
information, which Contractor has solely or jointly conceived or developed or reduced to practice within the scope of his employment
with the Company. Contractor acknowledges that all original works of authorship which have been made by him (solely or jointly
with others) within the scope of employment and which are protectable by copyright are "works made for hire," as that
term is defined in the United States Copyright Act of 1976, as amended.

		17.	The interpretation, construction and performance of this Release shall be governed by the laws of the State of New York, without
giving effect to the choice of law provisions of such jurisdiction. New York courts shall be the forum for resolving any dispute
relating to or arising under this Agreement. Contractor irrevocably submits to the exclusive jurisdiction of the federal and state
courts for the State of New York for purposes of any action, suit, or other proceeding arising out of or relating to this Release.

    	-6-

    	 

    
 

EMPLOYEE:

 

	/s/ Anthony Plesner	 	Date:	August 30, 2012
	Anthony Plesner	 	 	 

 

IntraLinks Holdings,
Inc.

 

	By:	/s/ RONALD W. HOVSEPIAN	 	Date:	August 30, 2012
	 	Ronald W. Hovsepian	 	 	 
	 	President and Chief Executive Officer	 	 	 

 

    	-7-

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