Document:

ENTRUST, INC. STOCK APPRECIATION RIGHT AGREEMENT

 Exhibit 10.4 
  
 ENTRUST, INC. 
  
 Stock Appreciation Right Agreement 
  
 Granted Under the 1999 Non-Officer Employee Stock Incentive Plan 
  
 1) Grant of Stock Appreciation Right. This agreement evidences the grant by Entrust, Inc., a Maryland corporation
(the “Company”), on                          (“Grant Date”) to
                    , (the “Participant”), of a stock appreciation right (“Stock Appreciation Right”), on the terms
provided herein and in the Company’s 1999 Non-Officer Employee Stock Incentive Plan (the “Plan”), for a total of
                     shares of common stock, $0.01 par value, of the Company (“Common Stock”) (the “Shares”) at
                 per Share (“Exercise Price”). Unless earlier terminated, this Stock Appreciation Right shall expire on the seventh anniversary of the
Grant Date (the “Expiration Date”). In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Award Agreement, the terms and conditions of the Plan shall prevail. Unless otherwise defined
herein, the terms defined in the Plan shall have the same defined meanings in this Award Agreement. 
  
 2) Vesting Schedule. This Stock Appreciation Right shall vest, in whole or in part, as to 25% of the Shares subject to the agreement shall vest on
each of the first, second, third and fourth anniversaries of the Grant Date, subject to the Participant continuing to be a Service Provider through each such dates. 
  
 3) Exercise of Stock Appreciation Right. Each election to exercise this Stock Appreciation Right shall be in writing,
signed by the Participant and received by the Company at its principal office, accompanied by this agreement and shall state the election to exercise the Stock Appreciation Right and the number of Shares in respect of which the Stock Appreciation
Right is being exercised (the “Exercised Shares”). This Stock Appreciation Right shall be deemed to be exercised upon receipt by the Company of such fully executed notice. Notwithstanding the foregoing, the Company may in its sole
discretion establish alternative means for Participant to exercise Stock Appreciation Rights, including electronic forms using electronic signatures and interactive voice response systems using PIN numbers, in a manner directed by the Company, and
this Stock Appreciation Right shall be deemed to be exercised upon fulfillment of such alternative means. 
  
 This Stock Appreciation Right shall be exercisable for ninety (90) days after Participant ceases to be a Service Provider, unless such termination is due
to Participant’s death, Disability or Retirement. If Participant ceases to be a Service Provider due to Participant’s death, Disability, this Stock Appreciation Right shall be exercisable for one (1) year after Participant ceases to be
Service Provider. If Participant ceases to be a Service Provider due to Participant’s Retirement, this Stock Appreciation Right shall be exercisable until the Expiration Date . Notwithstanding the foregoing, in no event may this Stock
Appreciation Right be exercised after the Expiration. 

 Upon exercising the Stock Appreciation Right, the Participant shall receive from the Company, for each
Share exercised, an amount equal to the lesser of: 
  

	 	(i)	the Fair Market Value of the Common Stock as of the date of such exercise, minus the Exercise Price; and 

  

	 	(ii)	Four times the Exercise Price. 

  
 Until Shares are issued in respect of the exercise of this Stock Appreciation Right in accordance with Plan Section 7, the Participant shall not have any of the rights or
privileges of a stockholder of the Company in respect of any of the Shares covered by this Stock Appreciation Right. 
  
 The Company’s obligation arising upon the exercise of this Stock Appreciation Right shall be paid 100% in Shares. Shares withheld to satisfy
withholding obligations shall also be valued at its Fair Market Value on the date of exercise. Any fractional Share due to a Participant upon exercise shall be rounded down to the nearest whole Share. 
  
 4) Non-Transferability of Stock Appreciation Right. Except to the
limited extent provided in paragraph 5, this Stock Appreciation Right may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Participant only by Participant.
Notwithstanding the foregoing sentence, Participant may, in a manner and in accordance with terms specified by the Board, transfer this Stock Appreciation Right to Participant’s spouse, former spouse or dependent pursuant to a court-approved
domestic relations order which relates to the provision of child support, alimony payments or marital property rights. Subject to the limitation on the transferability of this grant contained herein, this Agreement will be binding upon and inure to
the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 
  
 5) Withholding Taxes. Notwithstanding any contrary provision of this Award Agreement, no certificate representing the Shares will be issued to the
Participant, unless and until satisfactory arrangements (as determined by the Board) will have been made by the Participant with respect to the payment of income, employment and other taxes which the Company determines must be withheld with respect
to such shares so issuable. The Board, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit the Participant to satisfy such tax withholding obligation, in whole or in part (without limitation) by one
or more of the following: (a) paying cash, (b) electing to have the Company withhold otherwise deliverable shares of Common Stock having a Fair Market Value equal to the minimum amount required to be withheld, (c) delivering to the Company already
vested and owned shares of Common Stock having a Fair Market Value equal to the amount required to be withheld, or (d) selling a sufficient number of such shares of Common Stock otherwise deliverable to Participant through such means as the Company
may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld. Participant acknowledges and agrees that the Company may refuse to honor the exercise and refuse to deliver Shares if such
withholding amounts are not delivered at the time of exercise. 
  

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 6) Rights as Stockholder. Neither the Participant nor any person claiming under or through the
Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares will have been issued, recorded on the records of the Company
or its transfer agents or registrars, and delivered to the Participant. 
  
 7) No Effect on Continued Service. Participant acknowledges and agrees that the vesting of shares pursuant to the vesting schedule hereof is earned only by continuing as an employee, consultant or non-employee
director at the will of the company (and not through the act of being hired, being granted an option or purchasing shares hereunder). Participant further acknowledges and agrees that this agreement, the transactions contemplated hereunder and the
vesting schedule set forth herein do not constitute an express or implied promise of continued engagement as an employee, consultant or non-employee director for the vesting period, for any period, or at all, and will not interfere with
Participant’s right or the company’s right to terminate Participant’s relationship as an employee, consultant or non-employee director at any time, with or without cause. 
  
 8) Tax Consultation. Participant understands that Participant may suffer adverse tax consequences as a result of
Participant’s exercise hereunder. Participant represents that Participant has consulted with any tax consultants Participant deems advisable in connection with the purchase or disposition of the Shares and that Participant is not relying on the
Company for any tax advice. 
  
 9) Address for Notices. Any
notice to be given to the Company under the terms of this Agreement will be addressed to the Company at Entrust, Inc., One Hanover Park, Suite 800, 16633 Dallas Parkway, Addison, Texas 75001 or at such other address as the Company may hereafter
designate in writing. 
  
 10) Board Authority. The Board
will have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited
to, the determination of whether or not any Restricted Stock Units have vested). All actions taken and all interpretations and determinations made by the Board in good faith will be final and binding upon Participant, the Company and all other
interested persons. No member of the Board or its Committee administering the Plan will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Award Agreement. 
  
 11) Agreement Severable. In the event that any provision in this Award
Agreement will be held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Award Agreement. 
  
 12) Entire Agreement; Governing Law. The Plan is incorporated herein
by reference. The Plan and this Award Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the 

  

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Company and Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant’s interest except by means of a
writing signed by the Company and Participant. This Award Agreement is governed by Maryland law except for that body of law pertaining to conflict of laws. 
  
 By Participant’s signature and the signature of the Company’s representative below, Participant and the Company agree that this Stock
Appreciation Right is granted under and governed by the terms and conditions of the Plan and this Award Agreement. Participant has reviewed the Plan and this Award Agreement in their entirety, has had an opportunity to obtain the advice of counsel
prior to executing this Award Agreement and fully understands all provisions of the Plan and Award Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions o r interpretations of the Board upon any questions
relating to the Plan and Award Agreement. Participant further agrees to notify the Company upon any change in the residence address indicated below. 
  

					
	 PARTICIPANT
	 	 ENTRUST, INC.

		
	  

	 	  

	 Signature
	 	 By

	  
  

	 	  
  

	 Print Name
	 	 Title

			
	 DATED:
	 	  

	 	 
	  
  

	 	 
	  

	 	 
	 Residence Address
	 	 

  
 [Signature page to
Restricted Stock Unit Agreement] 
  

 -4-Form of Hudson Highland Group Executive Employment Agreement

 EXHIBIT 10.2 
  
 FORM OF HUDSON HIGHLAND GROUP 
 EXECUTIVE EMPLOYMENT AGREEMENT 
  
 The following are the executive officers of Hudson Highland Group, Inc. who have executed the attached Executive Employment Agreement and their respective titles and annual salaries under such Executive Employment Agreement: 
  

						
	 Executive Officer

	  	 Title

	  	Base Salary

	 Richard W. Pehlke
	  	Executive Vice President and Chief Financial Officer	  	$	350,000
	 Margaretta Noonan
	  	Executive Vice President and Chief Administrative Officer	  	$	275,000
	 Richard S. Gray
	  	Senior Vice President, Marketing and Communications	  	$	225,000
	 Richard A. Harris
	  	Senior Vice President and Chief Information Officer	  	$	250,000
	 Neil J. Funk
	  	Vice President, Internal Audit	  	$	175,000
	 Ralph L. O’Hara
	  	Vice President and Global Controller	  	$	225,000
	 Latham Williams
	  	Vice President, Legal Affairs and Administration, Corporate Secretary	  	$	265,000

 HUDSON HIGHLAND GROUP EXECUTIVE EMPLOYMENT AGREEMENT 
  
 This employment agreement (the “Agreement”) is made effective as of
May 6, 2005 by and between Hudson Highland Group, Inc. (the “Company”) and
                             (the “Executive”). 
  
 WHEREAS, the Company wishes to continue to employ the Executive and the
Executive wishes to continue to be employed in accordance with the terms and conditions set forth below. 
  
 NOW, THEREFORE, in consideration of the conditions and mutual covenants contained in this Agreement, the parties agree as follows: 
  
 1. Employment. The Company will employ the Executive and the
Executive accepts employment as
                                        .
The Executive will perform duties normally associated with such position and/or other duties as may be assigned from time to time during the Term as defined in Section 2 below. The Executive shall perform such duties in a manner consistent with
applicable laws and regulations and any code of ethics, compliance manual, employee handbook or other policies and procedures adopted by the Company from time to time and subject to any written directives issued by the Company from time to time. The
Executive must acknowledge receipt of the Company’s Ethics Policy and confirm that the Executive will comply with the Policy. Failure to confirm compliance annually with the Company’s Ethics Policy will justify termination for cause
unless, at the sole discretion of the Board, non-compliance is deemed non-material. 
  
 2. Term of Employment. The Executive’s employment under this Agreement will commence on January 1, 2005 (the “Commencement Date”) and will continue for a period of one (1) year thereafter,
subject to earlier termination as provided in Section 7 (the “Term”). This Agreement and the Term will be automatically renewed and extended for periods of one (1) year unless the Company or the Executive provides written notice no less
than thirty (30) days prior to the expiration of the then-current Term of its or the Executive’s desire not to renew this Agreement. 
  
 3. Scope of Responsibilities and Duties. The Executive agrees to devote the Executive’s full business time, attention, efforts and energies in
performance of the Executive’s duties and responsibilities hereunder. While employed by the Company, the Executive may not engage in any employment other than for the Company, in any conflicting business activities, or have any financial
interest, directly or indirectly, in any business competing with the Company or otherwise engaged in the business of the Company or its affiliates. The foregoing does not prevent the Executive from passively investing in publicly traded securities;
provided such investments do not require services on the part of the Executive which would in any way impair the performance of the Executive’s duties pursuant to this Agreement. 
  
 4. Compensation and Benefits. The Company will provide the Executive with the following compensation and benefits
during the Term: 
  
 (a) The Company will pay the
Executive a salary of [$                    ] on an annualized basis, payable in accordance with the payroll practices of the Company in
effect from time to time, and less such taxes and other deductions required by applicable law or authorized by the Executive (the “Base Salary”). 
  
 (b) The Executive will be entitled to accrue paid vacation at the rate of the greater of (i) four (4) weeks per year, or (ii) the vacation
allowance as provided under the 

 Company’s vacation plan that applies to similarly situated employees working at the office location
at which the Executive is based. In addition, the Company will provide the Executive with other benefits of employment offered, from time to time to similarly situated employees at the office location at which the Executive is based. 
  
 (c) The Executive will receive an annual bonus as provided
under the Company’s Senior Management Bonus Plan as is in effect from time to time. 
  
 5. Additional Agreements. This Agreement and the Executive’s employment hereunder is contingent upon the Executive’s execution of the General Release and Waiver, which is attached as Attachment A and
forms a part of this Agreement. The Executive’s employment hereunder is further contingent upon the Executive’s simultaneous execution of the Confidentiality, Non-Solicitation and Work Product Assignment Agreement and Mutual Agreement to
Arbitrate Claims, which is attached as Attachment B and forms a part of this Agreement. 
  
 6. Representations and Warranties. The Executive represents and warrants as follows: 
  
 (a) All information, oral and written (including, but not limited to information contained on the Executive’s resume), provided by
the Executive during the recruiting and employment process is accurate and true to the best of the Executive’s knowledge, and such information does not include any misleading or untrue statement or omit to state any fact necessary to make the
information provided not misleading. 
  
 (b) The
Executive has never been the subject of any investigation or subject to any disciplinary action by any governmental agency, industry self-regulatory body or other employer. 
  
 (c) The execution, delivery and performance of this Agreement by the Executive and the Executive’s
employment hereunder are not in violation of: 
  
 (i) the terms, including any non-competition, non-disclosure, non-solicitation or confidentiality provisions, of any written or oral agreement, arrangement or understanding to which the Executive is a party or by which the Executive is
bound; or 
  
 (ii) any United States federal or
state statute, rule, regulation, or other law, or any judgment, decree or order applicable or binding upon the Executive. 
  
 7. Termination. This Agreement and the Executive’s employment may be terminated prior to the expiration of the Term as follows: 
  
 (a) Death. If the Executive dies during the Term,
this Agreement shall automatically terminate and the Company shall have no further obligation to the Executive or the Executive’s estate, except to pay the Executive’s estate that portion of the Base Salary earned through the date on which
the Executive’s death occurs. 
  

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 (b) Disability. If the Executive is unable to perform the Executive’s
essential job duties and responsibilities due to mental or physical disability for a total of twelve (12) weeks, whether consecutive or not, during any rolling twelve (12) month period, the Company may terminate the Executive’s employment and
this Agreement upon five (5) days’ written notice to the Executive. For purposes of this Agreement, the Executive will be considered disabled when the Company, with the advice of a qualified physician, determines that the Executive is
physically or mentally incapable (excluding infrequent and temporary absences due to ordinary illness) of performing the Executive’s essential job duties. The Executive shall cooperate with the Company in obtaining the advice of a qualified
physician regarding the Executive’s condition. In the event of termination pursuant to this Section 7(b), the Company will be relieved of all obligations under this Agreement, provided that the Company will pay to the Executive that portion of
the Base Salary under Section 4(a) which has been earned through the date on which such termination occurs. 
  
 (c) Discharge without Cause. The Company may terminate the Executive and this Agreement at any time during the Term for any reason,
without Cause (as defined in Section 7(e) below) upon thirty (30) days’ written notice to the Executive. Upon such termination, the Company will have no further liability to the Executive other than to provide the Executive with (i) that
portion of the Base Salary under Section 4(a) earned through the date of the termination, (ii) severance pay in an amount equal to the Executive’s then-current Base Salary, less applicable deductions, for a period of twelve (12) months
following such termination (the “Severance Period”), and (iii) the Company’s portion of the premium for continued coverage under the Company’s group health and dental insurance plan during the Severance Period, provided the
Executive applies and remains eligible for such continuation coverage under applicable law, and provided further that the Executive authorizes the Company to deduct the Executive’s portion of such premiums from the severance payments. It is
understood that the period the Company makes such payments will run concurrently with the period of continuation coverage for which the Executive may be eligible under applicable law. The Executive’s receipt of the severance payments and
premium payments by the Company set forth in this paragraph (7) are conditioned upon the Executive executing a comprehensive release and waiver agreement and covenant not to sue as provided by the Company at the time of termination. Severance
payments will be made in equal installments on dates corresponding with the Company’s regular pay dates during the Severance Period. 
  
 (d) Termination for Cause. The Company may terminate the Executive’s employment and this Agreement at any time during the Term
for Cause as defined below. In such case, this Agreement and the Executive’s employment shall terminate immediately and the Company shall have no further obligation to the Executive, except that the Company shall pay to the Executive that
portion of the Base Salary under Section 4(a) earned through the date on which such termination occurs. 
  

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 (e) Definition of Cause. For purposes of this Agreement, Cause shall be defined
as: 
  
 (i) the willful or negligent failure of
the Executive to perform the Executive’s duties and obligations in any material respect (other than any failure resulting from Executive’s disability), which failure is not cured within fifteen (15) days after receipt of written notice
thereof, provided that there shall be no obligation to provide any additional written notice if the Executive’s failure to perform is repeated and the Executive has previously received one (1) or more written notices; 
  
 (ii) acts of dishonesty or willful misconduct by the
Executive with respect to the Company; 
  
 (iii)
conviction of a felony or violation of any law involving moral turpitude, dishonesty, disloyalty or fraud, or a pleading of guilty or nolo contendere to such charge; 
  

	 	(iv)	repeated refusal to perform the reasonable and legal instructions of the Executive’s supervisors; or 

  

	 	(v)	any material breach of this Agreement or Attachment A; or 

  

	 	(vi)	failure to confirm compliance with the Company’s Ethics Policy after 10 day’s written notice requesting confirmation. 

  
 (f) Resignation. The Executive may voluntarily resign
from employment at any time during the Term upon 3 months’ written notice and in compliance with the provisions of Attachment B. In such event, the Company shall be relieved of all its obligations under this Agreement, except that the Company
shall pay to the Executive that portion of the Base Salary under Section 4(a) earned through the date on which such resignation is effective. 
  
 (g) The Executive remains obligated to comply with the Executive’s obligations and duties pursuant to Attachment B despite the
termination of this Agreement and the Executive’s employment for any reason. 
  
 (h) During employment and after the termination of this Agreement and the Executive’s employment for any reason, the Executive agrees
to cooperate fully with and at the request of the Company in the defense or prosecution of any legal matter or claim in which the Company, any of its affiliates, or any of their past or present employees, agents, officers, directors, attorneys,
successors or assigns, may be or become involved and which arises or arose during the Executive’s employment. The Executive will be reimbursed for any reasonable out-of-pocket expenses incurred thereby. 
  
 (i) During and after the termination of this Agreement and
the Executive’s employment for any reason, the Executive agrees that, except as may be required by the lawful order of a court or agency of competent jurisdiction, he will not take any action or make any statement or disclosure, written or
oral, that is intended or reasonably likely to disparage the Company or any of its affiliates, or any of their past or present employees, officers or directors. 
  

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 8. Change in Control. Notwithstanding any other provisions of this Agreement to the contrary:

  
 (a) Employment Period. If a Change in
Control (as defined below) occurs when the Executive is employed by the Company, the Company will continue thereafter to employ the Executive during the period commencing on the date of a Change in Control and ending on the first anniversary of such
date (the “Employment Period”) and thereafter in accordance with Section 2 of this Agreement, and the Executive will remain in the employ of the Company in accordance with and subject to the terms and provisions of this Agreement.

  
 (b) Covered Termination. If there is
any termination of the Executive’s employment during the Employment Period (subject to Section 8(e)) by the Executive for Good Reason (as defined below), or by the Company other than by reason of (i) death pursuant to Section 7(a), (ii)
disability pursuant to Section 7(b), or (iii) Cause (a “Covered Termination”), then the Executive shall be entitled to receive, and the Company shall promptly pay, that portion of the base salary under Section 4(a) earned through the date
of the termination and, in lieu of further base salary for periods following such termination, as liquidated damages and additional severance pay, the Termination Payment pursuant to Section 8(c). 
  
 (c) Termination Payment. 
  
 (i) The “Termination Payment” shall be an amount
equal to (A) the Executive’s annual base salary immediately prior to the termination of the Executive’s employment plus (B) the Executive’s target annual bonus under the Company’s Senior Management Bonus Plan for the year in
which the termination of the Executive’s employment occurs. The Termination Payment shall be paid to the Executive in cash equivalent ten (10) business days after the date of the executive’s termination of employment with the Company. Such
lump sum payment shall not be reduced by any present value or similar factor, and the Executive shall not be required to mitigate the amount of the Termination Payment by securing other employment or otherwise, nor will such Termination Payment be
reduced by reason of the Executive securing other employment or for any other reason. The Termination Payment shall be in lieu of, and acceptance by the Executive of the Termination Payment shall constitute the Executive’s release of any rights
of the Executive to, any other cash severance payments under any Company severance policy, practice or agreement. 
  
 (ii) Notwithstanding any other provision of this Agreement, if any portion of the Termination Payment or any other payment under this
Agreement, or under any other agreement with or plan of the Company (in the aggregate, “Total Payments”), would constitute an “excess parachute payment” as defined in Section 280G (or any successor provision) of the Internal
Revenue Code of 1986, including any amendments thereto or any successor tax codes thereof (the “Code”), then the Company shall pay the Executive an additional amount (the “Gross-Up Payment”) such that the net amount retained by
the Executive after deduction of any excise tax imposed under Section 4999 (or any successor provision) of the Code and any interest charges or penalties in respect of the imposition of such excise tax (collectively, the “Excise Tax”) (but
not any 
  

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 federal, state or local income tax, or employment tax) on the Total Payments, and any federal, state and
local income tax, employment tax, and excise tax upon the payment provided for by this Section 9(c)(ii), shall be equal to the Total Payments. For purposes of determining the amount of the Gross-Up Payment, the Executive shall be deemed to pay
federal income tax and employment taxes at the highest marginal rate of federal income and employment taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rate of taxation
in the state and locality of the Executive’s domicile for income tax purposes on the date the Gross-Up Payment is made, net of the maximum reduction in federal income taxes that may be obtained from the deduction of such state and local taxes.
Notwithstanding the foregoing, if it shall be determined that the Executive is entitled to a Gross-Up Payment, but that the Total Payments would not be subject to the Excise Tax if the Total Payments were reduced by an amount that is less than 10%
of the Total Payments that would be treated as “parachute payments” under Section 280G (or any successor provision) of the Code, then the amounts payable to the Executive under this Agreement shall be reduced (but not below zero) to the
maximum amount that could be paid to the Executive without giving rise to the Excise Tax (the “Safe Harbor Cap”), and no Gross-Up Payment shall be made to the Executive. For purposes of reducing the Total Payments to the Safe Harbor Cap,
only amounts payable under this Agreement (and no other Total Payments) shall be reduced. If the reduction of the amounts payable hereunder would not result in a reduction of the Total Payments to the Safe Harbor Cap, no amounts payable under this
Agreement shall be reduced pursuant to this provision. 
  
 (iii) For purposes of this Agreement, the terms “excess parachute payment” and “parachute payments” shall have the meanings assigned to them in Section 280G (or any successor provision) of the Code and such
“parachute payments” shall be valued as provided therein. Present value for purposes of this Agreement shall be calculated in accordance with Section 1274(b)(2) (or any successor provision) of the Code. Promptly following a Covered
Termination or notice by the Company to the Executive of its belief that there is a payment or benefit due the Executive which will result in an “excess parachute payment” as defined in Section 280G of the Code (or any successor
provision), the Executive and the Company, at the Company’s expense, shall obtain the opinion (which need not be unqualified) of nationally recognized tax counsel (“National Tax Counsel”) selected by the Company’s independent
auditors and reasonably acceptable to the Executive (which may be regular outside counsel to the Company), which opinion sets forth (A) the amount of the Base Period Income, (B) the amount and present value of Total Payments, (C) the amount and
present value of any excess parachute payments, and (D) the amount of any Gross-Up Payment or the reduction of any Total Payments to the Safe Harbor Cap, as the case may be. As used in this Agreement, the term “Base Period Income” means an
amount equal to the Executive’s “annualized includable compensation for the base period” as defined in Section 280G(d)(1) (or any successor provision) of the Code. For purposes of such opinion, the value of any noncash benefits or any
deferred payment or benefit shall be determined by the 
  

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 Company’s independent auditors in accordance with the principles of Section 280G(d)(3) and (4) (or
any successor provisions) of the Code, which determination shall be evidenced in a certificate of such auditors addressed to the Company and the Executive. The opinion of National Tax Counsel shall be addressed to the Company and the Executive and
shall be binding upon the Company and the Executive. If such National Tax Counsel so requests in connection with the opinion required by this Section 8(c)(iii), the Executive and the Company shall obtain, at the Company’s expense, and the
National Tax Counsel may rely on, the advice of a firm of recognized executive compensation consultants as to the reasonableness of any item of compensation to be received by the Executive solely with respect to its status under Section 280G of the
Code and the regulations thereunder. Within five (5) days after the National Tax Counsel’s opinion is received by the Company and the Executive, the Company shall pay (or cause to be paid) or distribute (or cause to be distributed) to or for
the benefit of the Executive such amounts as are then due to the Executive under this Agreement. 
  
 (iv) In the event that upon any audit by the Internal Revenue Service, or by a state or local taxing authority, of the Total Payments or
Gross-Up Payment, a change is finally determined to be required in the amount of taxes paid by the Executive, appropriate adjustments shall be made under this Agreement such that the net amount which is payable to the Executive after taking into
account the provisions of Section 4999 (or any successor provision) of the Code shall reflect the intent of the parties as expressed in this Section 8(c), in the manner determined by the National Tax Counsel. 
  
 (v) The Company agrees to bear all costs associated with,
and to indemnify and hold harmless, the National Tax Counsel of and from any and all claims, damages, and expenses resulting from or relating to its determinations pursuant to this Section 8(c), except for claims, damages or expenses resulting from
the gross negligence or willful misconduct of such firm. 
  
 (d) Additional Benefits. If there is a Covered Termination and the Executive is entitled to the Termination Payment, then (i) until the earlier of the end of the Employment Period or such time as the Executive
has obtained new employment and is covered by benefits which in the aggregate are at least equal in value to the following benefits, the Executive shall continue to be covered, at the expense of the Company, by the same or equivalent health and
dental coverage as the Executive was covered by immediately prior to the termination of the Executive’s employment and (ii) the Company shall bear up to $15,000 in the aggregate of fees and expenses of consultants and/or legal or accounting
advisors engaged by the Executive to advise the Executive as to matters relating to the computation of benefits due and payable under Section 8(c). 
  
 (e) Anticipatory Termination. Anything in this Agreement to the contrary notwithstanding, if a Change in Control occurs and if the
Executive’s employment with the Company is terminated (other than a termination due to the Executive’s death or as a result of the Executive’s disability) during the period of 180 days prior to the date on 
  

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 which the Change in Control occurs, and if it is reasonably demonstrated by the Executive that such
termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change in Control or (ii) otherwise arose in connection with or in anticipation of a Change in Control, then for all purposes of
this Section 8 such termination of employment shall be deemed a “Covered Termination” and the “Employment Period” shall be deemed to have begun on the date of such termination. 
  
 (f) Expenses and Interest. If, after a Change in
Control of the Company, (i) a dispute arises with respect to the enforcement of the Executive’s rights under this Agreement or (ii) any legal or arbitration proceeding shall be brought to enforce or interpret any provision contained herein or
to recover damages for breach hereof, in either case so long as the Executive is not acting in bad faith, then the Company shall reimburse the Executive for any reasonable attorneys’ fees and necessary costs and disbursements incurred as a
result of the dispute, legal or arbitration proceeding (“Expenses”), and prejudgment interest on any money judgment or arbitration award obtained by the Executive calculated at the rate of interest announced by The Bank of New York, from
time to time at its prime or base lending rate from the date that payments to him or her should have been made under this Agreement. Within ten days after the Executive’s written request therefor, the Company shall pay to the Executive, or such
other person or entity as the Executive may designate in writing to the Company, the Executive’s reasonable Expenses in advance of the final disposition or conclusion of any such dispute, legal or arbitration proceeding. 
  
 (g) Definition of Change in Control. For purposes
hereof, a “Change in Control” shall be deemed to occur on the first to occur of any one of the following events: (a) the consummation of a consolidation, merger, share exchange or reorganization involving the Company, unless such
consolidation, merger, share exchange or reorganization is a “Non-Control Transaction” (as defined below); (b) the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or an agreement for the
sale or disposition by the Company of all, or substantially all, of the assets of the Company (in one transaction or a series of related transactions within any period of 24 consecutive months), other than a sale or disposition by the Company of
all, or substantially all, of the Company’s assets to an entity at least 75% of the combined voting power of the voting securities of which are owned by stockholders of the Company in substantially the same proportions as their ownership of the
Company immediately prior to such sale; (c) any person (as such term is used in Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (other than (1) the Company, (2) any subsidiary of the
Company, (3) a trustee or other fiduciary holding securities under any employee benefit plan (or any trust forming a part thereof) maintained by the Company or any subsidiary or (4) a corporation owned, directly or indirectly, by the stockholders of
the Company in substantially the same proportions as their ownership of stock in the Company) is or becomes the beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company (not
including in the securities beneficially owned by such person any securities acquired directly from the Company after the date hereof pursuant to express authorization by the Board that refers to this exception) representing more than 20% of the
then outstanding shares of Common Stock or the 
  

 9 

 combined voting power of the Company’s then outstanding voting securities; or (d) the following
individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, as of the date hereof, constitute the entire Board of Directors of the Company (the “Board”) and any new director (other
than a director whose initial assumption of office is in connection with an actual or threatened election contest) whose appointment or election by the Board or nomination for election by the Company’s stockholders was approved or recommended
by a vote of at least two-thirds of the directors then still in office who either were directors on the date hereof or whose appointment, election or nomination for election was previously so approved or recommended. Notwithstanding the foregoing,
no “Change in Control” shall be deemed to have occurred if there is consummated any transaction or series of integrated transactions immediately following which the record holders of the Common Stock immediately prior to such transaction
or series of transactions continue to have substantially the same proportionate ownership in an entity that owns all or substantially all of the assets or voting securities of the Company immediately following such transaction or series of
transactions. A “Non-Control Transaction” shall mean a consolidation, merger, share exchange or reorganization of the Company where (a) the stockholders of the Company immediately before such consolidation, merger, share exchange or
reorganization beneficially own, directly or indirectly, more than 50% of the then outstanding shares of common stock and the combined voting power of the outstanding voting securities of the corporation resulting from such consolidation, merger,
share exchange or reorganization (the “Surviving Corporation”); (b) the individuals who were members of the Board immediately prior to the execution of the agreement providing for such consolidation, merger, share exchange or
reorganization constitute at least 50% of the members of the board of directors of the Surviving Corporation; and (c) no person (other than (1) the Company, (2) any subsidiary of the Company or (3) any employee benefit plan (or any trust forming a
part thereof) maintained by the Company, the Surviving Corporation or any subsidiary) is or becomes the beneficial owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such person any
securities acquired directly from the Company after the date hereof pursuant to express authorization by the Board that refers to this exception) representing more than 20% of the then outstanding shares of the common stock of the Surviving
Corporation or the combined voting power of the Surviving Corporation’s then outstanding voting securities. 
  
 (h) Good Reason. The Executive shall have “Good Reason” for termination of employment in connection with a Change in
Control of the Company in the event of: 
  
 (i)
any breach of this Agreement by the Company, other than an isolated, insubstantial and inadvertent failure not occurring in bad faith that the Company remedies promptly after receipt of notice thereof given by the Executive; 
  
 (ii) any reduction in the Executive’s base salary,
percentage of base salary available as incentive compensation or bonus opportunity or benefits, in each case relative to those most favorable to the Executive in effect at any time during the 180-day period prior to the Change in Control;

  

 10 

 (iii) the removal of the Executive from, or any failure to reelect or reappoint the
Executive to, any of the positions held with the Company on the date of the Change in Control or any other positions with the Company to which the Executive shall thereafter be elected, appointed or assigned, except in the event that such removal or
failure to reelect or reappoint relates to the termination by the Company of the Executive’s employment for Cause or by reason of disability pursuant to Section 7(b); 
  
 (iv) a good faith determination by the Executive that there has been a material adverse change, without the
Executive’s written consent, in the Executive’s working conditions or status with the Company relative to the most favorable working conditions or status in effect during the 180-day period prior to the Change in Control, including but not
limited to (A) a significant change in the nature or scope of the Executive’s authority, powers, functions, duties or responsibilities, or (B) a significant reduction in the level of support services, staff, secretarial and other assistance,
office space and accoutrements, but in each case excluding for this purpose an isolated, insubstantial and inadvertent event not occurring in bad faith that the Company remedies within ten (10) days after receipt of notice thereof given by the
Executive; 
  
 (v) the relocation of the
Executive’s principal place of employment to a location more than 50 miles from the Executive’s principal place of employment on the date 180 days prior to the Change in Control; or 
  
 (vi) the Company requires the Executive to travel on Company
business 20% in excess of the average number of days per month the Executive was required to travel during the 180-day period prior to the Change in Control. 
  
 9. Severability. Whenever possible, each portion, provision or section of this Agreement will be interpreted in such a way as to be effective and
valid under applicable law, but if any portion, provision or section of this Agreement is held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect any other portions, provisions or
sections. Rather, this Agreement will be reformed, construed and enforced as if such invalid, illegal or unenforceable portion, provision or section had never been contained herein. 
  
 10. Complete Agreement. This Agreement, including Attachments A and B, contains the complete agreement and
understanding between the parties and supersedes and preempts any prior understanding, agreement or representation by or between the parties, written or oral. 
  

11. Additional Rights and Causes of Action. This Agreement, including Attachments A and B, is in addition to and does not in any way waive or
detract from any rights or causes of action the Company may have relating to Confidential Information or other protectable information or interests under statutory or common law or under any other agreement. 
  
 12. Governing Law. Notwithstanding principles of conflicts of law of
any jurisdiction to the contrary, all terms and provisions to this Agreement are to be construed and 
  

 11 

 governed by the laws of the State of New York without regard to the laws of any other jurisdiction in which the Executive
resides or performs any duties hereunder or where any violation of this Agreement occurs. 
  
 13. Successors and Assigns. This Agreement will inure to the benefit of and be enforceable by the Company and its successors and assigns. The Executive may not assign the Executive’s rights or delegate the
Executive’s obligations hereunder. 
  
 14. Waivers.
The waiver by either the Executive or the Company of a breach by the other party of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach by the breaching party. 
  
 THE COMPANY AND THE EXECUTIVE ACKNOWLEDGE THAT (A) EACH HAS CAREFULLY READ
THIS AGREEMENT, (B) EACH UNDERSTANDS ITS TERMS, (C) ALL UNDERSTANDINGS AND AGREEMENTS BETWEEN THE COMPANY AND THE EXECUTIVE RELATING TO THE SUBJECTS COVERED IN THE AGREEMENT ARE CONTAINED IN IT, AND (D) EACH HAS ENTERED INTO THIS AGREEMENT
VOLUNTARILY AND NOT IN RELIANCE ON ANY PROMISES OR REPRESENTATIONS BY THE OTHER, OTHER THAN THOSE CONTAINED IN THIS AGREEMENT ITSELF. 
  

 12 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement. 
  

					
	 	 	Hudson Highland Group, Inc.
			
	  

	 	By:	 	  

	Signature of Executive	 	 	 	Signature of Authorized Representative
			
	  

	 	Its:	 	  

	Print Name	 	 	 	Title of Representative
		
	  

	 	  

	Date	 	Date

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