Document:

EX-10.1

Exhibit 10.1

Attachment B

Page 1 of 4

MARATHON OIL COMPANY

EXCESS BENEFIT PLAN

(Amended and Restated as of January 1, 2006)

First Amendment

Effective June 1, 2006

WHEREAS, effective January 1, 2006, Marathon Oil Company (the “Company”) adopted an
amended and restated version of the Marathon Oil Corporation Excess Benefit Plan (the “Plan”); and

WHEREAS, pursuant to Article VII of the Plan, the Vice President of Human Resources of the
Company has authority to approve certain amendments to the Plan; and

WHEREAS, Ms. Eileen M. Campbell currently serves as the Vice President of Human Resources for
the Company.

NOW, THEREFORE, Marathon Oil Company, having established the Plan and having reserved the
right to amend the Plan in Article V thereof, does hereby amend the Plan, effective as of June 1,
2006, as follows:

1. Section C of Article II of the Plan is hereby replaced in its entirety with the following:

	 	 	 	“C. Marathon Oil Corporation (MRO) and Marathon Oil Company (MOC) employees
in compensation Grade 19 and above who are limited to contributing an amount to
their MSP Account which is less than the maximum potential amount of
contributions that could be matched by Company Contributions under the Thrift
Plan (i) because of the results of the Actual Deferral Percentage test, or (ii)
because of the attainment of the annual dollar limitation on MSP Contributions,
and who:	 

1. continue to contribute their maximum permissible amount to the MSP Account
as determined under the Thrift Plan; and

2. are not suspended from making After-Tax Contributions under the terms of
the Thrift Plan.

Effective January 1, 2006, any Excess Thrift accruals for employees eligible
for the Marathon Oil Company Deferred Compensation Plan shall accrue under
the Deferred Compensation Plan rather than the MOC Excess Benefit Plan,
regardless of whether the eligible employee elects to participate in the
Deferred Compensation Plan.”

2. Section A of Article III of the Plan is hereby replaced in its entirety with the following:

	 	 	 	“A. Amount of Excess Retirement Benefit	 

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Page 2 of 4

The amount of Excess Retirement Benefit which a Participant or Beneficiary is
entitled to receive shall be equal to the excess of (1) over (2) below:

(1) The amount of benefit which such Participant or Beneficiary would be entitled to
receive under the Retirement Plan if such benefit were computed without giving
effect to the limitations referenced under Article II, Section A of this Plan and
including elected deferred compensation contributions as permitted under the
Marathon Oil Company Deferred Compensation Plan; less

(2) The amount of benefit which such Participant or Beneficiary is entitled to
receive under the Retirement Plan.

Marathon Oil Corporation (MRO) and Marathon Oil Company employees (MOC) who are MRO
Officers in compensation Grade 19 and above, or Eligible Grandfather Employees,
shall be entitled to an additional Excess Retirement Benefit equal to the difference
between (3) and (4) below (“Special Excess Bonus Recognition”):

(3) An amount calculated under the Retirement Plan benefit formula, without regard
to any IRC-mandated limitations and including elected deferred compensation
contributions as permitted under the Marathon Oil Company Deferred Compensation
Plan, and substituting the following Final Average Pay (FAP) definition for the
definition of “Final Average Pay” contained in the Retirement Plan:

Final Average Pay shall be the highest pay, excluding bonuses, of a member
for any consecutive 36-month period during the last ten years of employment
plus the highest three bonuses paid out of the last 10 years (not necessarily
consecutive), divided by 36.

(4) An amount as normally determined under the Retirement Plan, plus any retirement
benefit otherwise payable under the Excess Benefit Plan (i.e., exclusive of any
benefits attributable to the calculation in (3) above).

For purposes of the calculations in (3) and (4) of this section (Article III,
Section A) “Eligible Grandfather Employee” means any current MRO and MOC employee
eligible for Special Excess Bonus Recognition under Article III, Section A of this
Plan prior to August 27, 2003. However, an individual’s Eligible Grandfather
Employee status shall permanently cease upon termination, retirement, or death as an
active employee.”

2

Attachment B

Page 3 of 4

MARATHON OIL COMPANY

DEFERRED COMPENSATION PLAN

(Amended and Restated as of January 1, 2006)

First Amendment

Effective June 1, 2006

WHEREAS, effective January 1, 2006, Marathon Oil Company (the “Company”) adopted an
amended and restated version of the Marathon Oil Corporation Deferred Compensation Plan (the
“Plan”); and

WHEREAS, pursuant to Article X of the Plan, the Vice President of Human Resources of the
Company has authority to approve certain amendments to the Plan; and

WHEREAS, Ms. Eileen M. Campbell currently serves as the Vice President of Human Resources for
the Company.

NOW, THEREFORE, Marathon Oil Company, having established the Plan and having reserved the
right to amend the Plan in Article X thereof, does hereby amend the Plan, effective as of June 1,
2006, as follows:

1. Section 1.8 of the Plan is hereby replaced with the following:

	 	 	 	“1.8 “Eligible Employee” means a Marathon Oil Corporation Officer in Grade
19 and above whose Compensation is equal to or greater than the amount that is
provided in Code section 414(q)(1)(B), as adjusted annually pursuant to the
last paragraph of Code section 414(q)(1).”	 

2. Article I of the Plan is hereby amended by inserting the following new Section 1.9 therein
and renumbering the subsequent sections accordingly:

	 	 	 	“1.9 “Eligible Grandfather Employee” means a Marathon Oil Corporation
employee or a Marathon Oil Company employee who, prior to August 27, 2003, was
in compensation Grade 19 and above or a Vice President and above and whose
Compensation is equal to or greater than the amount that is provided in Code
section 414(q)(1)(B), as adjusted annually pursuant to the last paragraph of
Code section 414(q)(1); provided, however, that an individual’s Eligible
Grandfather Employee status shall permanently cease upon termination,
retirement, or death as an active employee.”	 

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Page 4 of 4

	 	3.	 	New Section 1.14 of the Plan is hereby replaced with the following:	 

	 	 	 	“1.14 “Participant” means an Eligible Employee or Eligible Grandfathered
Employee who elects to participate in and/or receives contributions under the
MOC-DCP pursuant to Article III or Article IV of this MOC-DCP.”	 

4. Article II of the Plan is hereby replaced with the following:

“Any Eligible Employee or Eligible Grandfathered Employee shall be
eligible to participate in this Marathon Oil Company Deferred Compensation
Plan (MOC-DCP).”

4

	 	 	 
	Reviewed:

	 	

	 /s/ Thomas Standley

	 	05/12/06
	 

	 	 
	Law

/s/ Michol Ecklund

	 	Date

05/12/06
	 

	 	 
	Tax

Approved:

	 	Date

	/s/ Eileen M. Campbell

	 	05/15/06
	 

	 	 
	Eileen M. Campbell

	 	Date

Vice President, Human Resources

MOC

Note: The above approval signatures also constitute the execution of the amended Articles of the
respective Plan texts attached in Attachment B for Marathon Oil Company.

5EX-10.75

Exhibit 10.75

EXECUTIVE SEVERANCE AGREEMENT

This Executive Severance Agreement (the “Agreement”), effective as of May 8, 2006, is made and
entered into by and between Steven G. Murdock (“Executive”) and Meade Instruments Corp., a Delaware
corporation (the “Company”).

RECITALS

	 	A.	 	Executive served as the Chief Executive Officer, President and Secretary of the Company
and as a member of the Company’s Board of Directors.

	 	B.	 	On January 20, 2006, Executive announced he would be resigning as the Chief Executive
Officer, President and Secretary of the Company (the “Announcement Date”).

	 	C.	 	The terms and conditions of Executive’s employment with the Company were governed by an
Employment Agreement, dated as of March 1, 2005 (the “Employment Agreement”), by and
between the Company and Executive which formalizes the severance commitments owed to
Executive as of the Announcement Date.

	 	D.	 	Executive’s resignation from his positions as Chief Executive Officer, President and
Secretary will be completed as of the execution of this Agreement (the “Separation Date”).
Accordingly, Executive and the Company desire to enter into this Agreement to set forth in
detail, among other things, the payments and benefits Executive is entitled to receive in
connection with his resignation and separation from the Company.

NOW, THEREFORE, in consideration of the covenants undertaken in the Agreement, the Company and
Executive agree as follows:

AGREEMENT

1. Resignation. Executive hereby resigns as an officer of the Company and any of its
affiliated entities effective May 8, 2006, and as an employee, and in any other capacity with the
Company and any of its affiliated entities (other than as a director of the Company as Executive
will not be resigning his position as a director of the Company) as of the Separation Date.

2. Termination of Employment Agreement. The Employment Agreement shall terminate effective
as of the Separation Date, provided, however, that notwithstanding anything to the contrary in this
Agreement, Sections 8 (Confidential Information), 9 (Inventions and Patents), 10 (Non-Competition),
11 (Non-Solicitation of Customers), 12 (Non-Interference with Employees), 13 (Assistance in Patent
Applications) and 14 (Indemnity) of the Employment Agreement, which are incorporated herein by
reference, shall continue to apply in accordance with their terms. In connection therewith,
Executive will continue to sign all necessary and appropriate documents on behalf of the Company,
including, but not limited to, board resolutions, financial reports and/or Securities and Exchange
Commission filings by the Company consistent with the exercise of reasonable judgment and past
practices, as appropriate. Executive and the Company also agree to execute the Registration Rights
Agreement in the form attached hereto as Exhibit A.

3. Severance Payments and Benefits. In consideration for Executive’s agreement to resign
on the Announcement Date and for his obligations to the Company under this Agreement, Executive
shall receive the following severance payments and benefits from the Company in connection with
such agreement to resign on the Announcement Date:

	 	3.1	 	Severance Payment. Cash payments (the “Severance Payment”) in an
aggregate amount equal to Four Hundred and Fifty Thousand Dollars ($450,000).

	 	a.	 	The Severance Payment shall be paid by the Company to the Executive in
equal monthly payments over a period of one (1) year commencing as of the Separation
Date (each a “Scheduled Payment”).

	 	b.	 	The Severance Payments shall be paid by Company check to an address
designated by Executive. In the event the Company fails for any reason to make a
Scheduled Payment in a timely basis, and the failure to make such payment is not
cured by the Company within 30 days after written notice sent to the Company at its
corporate offices, attention: General Counsel, the aggregate amount of all
outstanding remaining Severance Payments shall become immediately due and payable
within 10 days by the Company to Executive in a single lump-sum payment.

	 	3.2	 	Continuation of Company sponsored Benefits. Executive’s rights, if any,
regarding continuation of group insurance coverage will be governed by the Consolidated
Omnibus Budget Reconciliation Act of 1984, as amended (“COBRA”), effective May 1, 2006.
The Company will provide Executive with a COBRA notice, which will include the insurance
premium rate for coverage for Executive under COBRA. Additionally, as long as Executive
timely applies for, elects and is eligible for COBRA benefits, the Company will pay the
applicable COBRA premium for Executive’s coverage for a period of thirty six (36)
months. Other than COBRA benefits under such plans paid for as set forth above,
participation by the Executive in all other Company sponsored benefits and plans shall
terminate on the Separation Date. In the event that neither COBRA nor Cal-COBRA is
available to Executive, the Company shall nevertheless provide insurance to Executive
commensurate with the coverage provided to Executive as of the Separation Date.

	 	3.3	 	Restricted Stock Vesting. Executive owns 60,000 restricted shares of the
Company’s common stock, granted under the Company’s 1997 Stock Incentive Plan (the “1997
Plan”), which would have become vested as to 1/3 on May 24, 2006, 1/3 on May 24, 2007,
and 1/3 on May 24, 2008. The 20,000 restricted shares that would have become vested as
of May 24, 2006 will vest on the Separation Date and will become unrestricted as of such
date. All other restricted stock (40,000 shares) shall immediately cease to vest and
will revert to the Company in accordance with the terms and conditions of the 1997 Plan.

	 	3.4	 	Stock Option Vesting. Executive owns options to purchase 745,000 shares
of the Company’s common stock, the terms and conditions of which are subject to the 1997
Plan and certain Stock Option Agreements, executed in connection with each applicable
stock option grant by the Company and Executive (collectively “Executive’s Options”).
As of the Separation Date, Executive and the Company agree to terminate all of
Executive’s Options and Executive agrees to forfeit all such options. In connection
therewith, all of Executive’s Options shall revert back to the Company in accordance
with the terms and conditions of the 1997 Plan.

	 	3.5	 	Life Insurance Documentation and Payments. The Company shall continue to
provide Executive for a period of one (1) year with life insurance equal to that
provided to Executive immediately prior to the Separation Date.

	 	3.6	 	Board of Directors. The Board of Directors of the Company agrees to
nominate Executive for re-election to the Board of Directors at the Company’s 2006
Annual Meeting of Stockholders and to include such nomination in the Company’s proxy
materials prepared in connection with such 2006 Annual Meeting.

4. Consulting Services. From and after the Separation Date through May 7, 2008 (the
“Consulting Period”), Executive agrees to make himself reasonably available to the Company’s Board
of Directors and its Chief Executive Officer to consult on business and operational matters as
reasonably requested by such persons, subject to Executive’s prior commitments or obligations. The
Company and Executive agree that the nature of such Consulting Services shall be related primarily
to product development. Executive shall, if requested, provide such services to the Company at the
Company’s headquarters, and in such event, the Company shall make reasonable space available to
Executive at such location. In no event shall Executive be required to provide more than eight (8)
hours per month of consulting services to the Company. In consideration for such Consulting
Services, the Company shall pay Executive One Hundred and Forty Thousand Dollars ($140,000) for the
first twelve (12) months following the Separation Date, and Twenty Thousand Dollars ($20,000) for
the second twelve (12) months following the Separation Date (collectively, “Consulting Payments”).
The Consulting Payments shall be paid by Company check to an address designated by Executive.

5. Independent Contractor Status. Executive acknowledges that Executive is being engaged
by the Company on an independent contractor basis during the Consulting Period. Under no
circumstances shall Executive look to the Company as Executive’s employer, or as a partner, agent
or principal during such period. Except as expressly provided in this Agreement, Executive shall
not be entitled to any benefits accorded to the Company’s employees, including, without limitation,
worker’s compensation, disability insurance, vacation, sick pay, or participation in any of the
Company’s benefit plans such as its Employee Stock Ownership Plan or 401k Plan. No compensation to
be paid to Executive for performing the services contemplated in this Agreement shall be subject to
any withholding or deductions provided by local, state or federal law, which shall be the sole
responsibility of Executive.

6. Company Property. The parties agree that the Company’s cell phone issued to Executive
shall remain with Executive under a plan equal to what was in place as of the Separation Date for a
period of twelve (12) months following such Date. After such twelve (12) month period, the
Company’s cell phone shall be transferred, together with all billing and other documentation, to
Executive and Executive shall, following the Separation Date, be responsible for all expenses and
liabilities related thereto.

7. Executive Release. In consideration of the terms of this Agreement as provided herein,
except as to any obligations provided for or assumed in this Agreement, Executive agrees to waive
and release the Company, and each of its affiliated or related entities, partnerships, parent or
subsidiary corporations, members, partners, stockholders, directors, officers, employees,
attorneys, agents, predecessors, successors and assigns, and each and all of them (collectively
referred to as the “Company Releasees”), from all claims, damages, agreements, charges of
discrimination or complaints of any nature whatsoever, whether or not now known, suspected or
claimed, matured or unmatured, fixed or contingent, which Executive or his successors-in-interest
ever had, now has, or may claim to have against the Company Releasees, or any of them, whether
directly or indirectly, by reason of any act, event or omission concerning any matter, cause or
thing arising prior to the date of execution of this Agreement, including, without limiting the
generality of the foregoing, any claims relating to or arising out of (i) Executive’s employment or
the cessation of that employment; (ii) any agreement between Executive and any of the Company
Releasees, including, without limitation, the Employment Agreement; (iii) any tort or tort-type
claims; (iv) any federal, state or governmental constitution, statute, regulation or ordinance,
including, but not limited to, Title VII of the Civil Rights of 1964, the Employee Retirement
Income Security Act, the Age Discrimination in Employment Act, as amended by the Older Workers
Benefit Protection Act, the Americans With Disabilities Act, and the California Fair Employment and
Housing Act; (v) any claim for wages, salary, bonuses, partnership interests, profit sharing,
and/or any other compensation or benefit; (vi) any impairment of Executive’s ability to obtain
subsequent employment; or (vii) any permanent or temporary disability or loss of future earnings as
a result of injury or disability arising from or associated with employment or the termination of
the employment relationship with any of the Company Releasees. This release does not waive or
release any claim Executive may have to unemployment or workers’ compensation benefits. This
release includes a waiver of any rights Executive may have under Section 1542 of the California
Civil Code, or any similar statute or law of any other state, regarding the waiver of unknown
claims. Section 1542 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 BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE
DEBTOR.”

Notwithstanding the provisions of Section 1542, and for the purpose of implementing a full and
complete release and discharge of all claims, Executive understands and agrees that this Agreement
is intended to include in its effect, without limitation, all claims, if any, which Executive may
have and which Executive does not now know or suspect to exist in his favor against the Company
Releasees, and this Agreement extinguishes any and all of those claims.

8. Company Release. As additional consideration to Executive, and except as to any
obligations provided for or assumed in this Agreement, the Company agrees to waive and release
Executive, and each of his attorney’s, agents, predecessors, successors and assigns, and each and
all of them (collectively referred to as the “Executive Releasees”), from all claims, damages,
agreements, or complaints of any nature whatsoever, whether or not known, suspected or claimed,
matured or unmatured, fixed or contingent, which the Company or its successors-in-interest ever
had, now has, or may claim to have against the Executive Releasees, or any of them, whether
directly or indirectly, by reason of any act, event or omission concerning any matter, cause or
thing arising prior to the date of execution of this Agreement, including, without limiting the
generality of the foregoing, any claims relating to or arising out of (i) Executive’s employment or
the cessation of that employment; (ii) any agreement between Executive and any of the Company
Releasees, including, without limitation, the Employment Agreement; (iii) any tort or tort-type
claims; and (iv) any federal, state or governmental constitution, statute, regulation or
ordinance. This release includes a waiver of any rights the Company may have under Section 1542 of
the California Civil Code (the language of which is set forth above in paragraph 6), or any similar
statute or law of any other State, regarding the waiver of unknown claims. Notwithstanding the
provisions of Section 1542, and for the purpose of implementing a full and complete release and
discharge of all claims, the Company understands and agrees that this Agreement is intended to
include in its effect, without limitation, all claims, if any, which the Company may have and which
the Company does not now know or suspect to exist in its favor against Executive Releasees, and
this Agreement extinguishes any and all of those claims.

9. Registration of Executive’s Common Stock. Executive hereby agrees to provide the
Company all documentation related to such shares that is necessary for the Company to fulfill its
obligations hereunder no later than two (2) weeks after the Effective Date. The Company agrees to
register Executive’s Common Stock in accordance with the terms and conditions of that certain
Registration Rights Agreement, attached hereto as Exhibit A.

10. Acknowledgement. Executive represents that he has had an opportunity to discuss all
aspects of this Agreement with his legal counsel, and understands all provisions of this Agreement
and is voluntarily entering into its terms. Executive acknowledges the following: (i) he has been
given at least twenty-one (21) days within which to consider this Agreement; (ii) he has been
advised in writing that he has the right to and may consult with an attorney before executing this
Agreement, and acknowledges that he has had the opportunity to consult an attorney; and (iii) he
has seven (7) days following the execution of this Agreement to revoke the Agreement. To revoke
the Agreement, Executive must advise the Company in writing of his election to revoke it within the
seven (7) day period. Executive recognizes that he is specifically releasing, among other claims,
any claims he may have arising under the Age Discrimination in Employment Act of 1967 (“ADEA”) and
all amendments thereto. Executive acknowledges that this Agreement is intended by the parties to
comply with the terms and provisions of the Older Workers Benefit Protection Act of 1990 and all
amendments thereto.

11. Public Statements. Executive agrees that he shall not directly or indirectly, make or
ratify any statement, public or private, oral or written, to any person that disparages, either
professionally or personally, the Company or its subsidiaries and affiliates, past and present, and
each of them, as well as its and their directors, officers and employees, and each of them and the
Company agrees that it shall not directly or indirectly, make or ratify any statement, public or
private, oral or written, to any person that disparages Executive, either professionally or
personally.

12. Indemnity. The Company and Executive expressly acknowledge that the provisions of
their Indemnity Agreement, and the provisions of the Employment Agreement set forth above, continue
to apply to Executive. Accordingly, the Company covenants and agrees that as long as Executive
shall continue to serve as a director of the Company and thereafter so long as Executive shall be
subject to any possible Proceeding, the Company, subject to the terms hereof, shall promptly obtain
and maintain in full force and effect directors’ and officers’ liability insurance (“D&O
Insurance”) in reasonable amounts from established and reputable insurers. In all D&O Insurance
policies, Executive shall be provided the same rights and benefits as are accorded to the most
favorably insured of the Company’s directors and officers. Notwithstanding anything in this
Section, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company
determines in good faith that insurance is not reasonably available, the premium costs for
insurance are disproportionate to the amount of coverage provided or the coverage provided by
insurance is so limited by exclusions that it provides an insufficient benefit. For purposes of
this Section, the term “Proceeding” shall include any threatened, pending or completed action, suit
or proceeding, whether brought by or in the name of the Company or otherwise and whether of a
civil, criminal or administrative or investigative nature, by reason of the fact that Executive is
or was a director and/or officer of the Company, or is or was serving at the request of the Company
as a director, officer, employee or agent of another enterprise, whether or not he is serving in
such capacity at the time any liability or expense is incurred for which indemnification or
reimbursement is to be provided under the Indemnity Agreement.

13. Miscellaneous Provisions.

	 	A.	 	Modification. This Agreement is personal to Executive and shall not,
without the prior written consent of the Company, be assignable by Executive.

	 	B.	 	Successors. This Agreement shall inure to the benefit of and be
binding upon the Company and its successors and assigns and any such successor or
assignee shall be deemed substituted for the Company under the terms of this Agreement
for all purposes. As used herein, “successor” and “assignee” shall include any person,
firm, corporation or other business entity which at any time, whether by purchase,
merger or otherwise, directly or indirectly acquires the stock of the Company or to
which the Company assigns this Agreement by operation of law or otherwise.

	 	C.	 	Modification. This Agreement may not be amended or modified other than
by a written agreement executed by an Executive Officer of the Company.

	 	D.	 	Complete Agreement. This Agreement (and the exhibit hereto)
constitutes and contains the entire agreement and final understanding concerning
Executive’s employment relationship with the Company and the other subject matters
addressed herein between the parties, and supersedes and replaces all prior
negotiations and all agreements proposed or otherwise, whether written or oral,
concerning the subject matters hereof, provided, however, that notwithstanding anything
to the contrary in this Agreement, Sections 8 (Confidential Information), 9 (Inventions
and Patents), 10 (Non-Competition), 11 (Non-Solicitation of Customers), 12
(Non-Interference with Employees), 13 (Assistance in Patent Applications) and 14
(Indemnity) of the Employment Agreement, which are incorporated herein by reference,
shall continue to apply in accordance with their terms and nothing herein shall limit
or otherwise modify the indemnification obligations of the Company in favor of
Executive under the Company’s Certificate of Incorporation, Bylaws or the Indemnity
Agreement. Except as contained in the foregoing proviso, any representation, promise
or agreement not specifically included in this Agreement shall not be binding upon or
enforceable against either party. This is an integrated agreement.

	 	E.	 	Litigation and Investigation Assistance. Executive agrees to cooperate
to the extent reasonably requested in the Company’s defense against any threatened or
pending litigation or in any investigation or proceeding by any governmental agency or
body that relates to any events or actions which occurred during the term of
Executive’s employment. To the extent the Company requests Executive’s assistance in
such matters at any time after the Consulting Period, Executive shall be compensated by
the Company at a mutually agreed upon hourly rate. The Company shall reimburse
Executive for all reasonable, out of pocket expenses incurred by Executive in
fulfilling his obligations under this Section.

	 	F.	 	Severability. If any provision of this Agreement or the application
thereof is held invalid, the invalidity shall not affect other provisions or
applications of the Agreement which can be given effect without the invalid provisions
or applications and to this end the provisions of this Agreement are declared to be
severable.

	 	G.	 	Specific Performance. It might be impossible to measure in money the
damage to a party if another party breaches this Agreement. If any such failure
occurs, the party damaged might not have an adequate remedy at law or in damages.
Therefore, each party consents to the issuance of an injunction or other appropriate
relief, and the enforcement of other equitable remedies, against it to compel
performance of this Agreement.

	 	H.	 	Choice of Law. This Agreement shall be deemed to have been executed
and delivered within the State of California, and the rights and obligations of the
parties hereunder shall be construed and enforced in accordance with, and governed by,
the laws of the State of California without regard to principles of conflict of laws.

	 	I.	 	Cooperation in Drafting. Each party has cooperated in the drafting and
preparation of this Agreement. Hence, in any construction to be made of this
Agreement, the same shall not be construed against any party on the basis that the
party was the drafter.

	 	J.	 	Counterparts. This Agreement may be executed in counterparts, and each
counterpart, when executed, shall have the efficacy of a signed original. Photographic
copies of such signed counterparts may be used in lieu of the originals for any
purpose.

	 	K.	 	Arbitration. As a material inducement to enter into this Agreement, to
the fullest extent allowed by law, any controversy, claim or dispute between Executive
and the Company will be submitted to final and binding arbitration before a single
neutral arbitrator in Orange County, California for determination in accordance with
the American Arbitration Association’s (“AAA”) National Rules for the Resolution of
Employment Disputes, as the exclusive remedy for such controversy, claim or dispute.
In any such arbitration, the parties may conduct discovery to the same extent as would
be permitted in a court of law. The arbitrator shall issue a written decision, and
shall have full authority to award all remedies which would be available in court. The
Company shall pay the arbitrator’s fees and any AAA administrative expenses. Any
judgment upon the award rendered by the arbitrator may be entered in any court having
jurisdiction thereof. BY AGREEING TO THIS BINDING ARBITRATION PROVISION, BOTH
EXECUTIVE AND THE COMPANY GIVE UP ALL RIGHTS TO TRIAL BY JURY. This bilateral
arbitration agreement is to be construed as broadly as is permissible under relevant
law. In connection with any arbitration proceeding commenced hereby, the prevailing
party shall be entitled to reimbursement of its reasonable attorney’s fees and costs,
including arbitrator fees.

	 	L.	 	Headings. The section headings contained in this Agreement are
inserted for convenience only and shall not affect in any way the meaning or
interpretation of this Agreement.

	 	M.	 	Waiver. No provision of this Agreement shall be modified, waived or
discharged unless the modification, waiver or discharge is agreed to in writing and
signed by the Executive and by an Executive Officer of the Company. No waiver by
either party of any breach of, or of compliance with, any condition or provision of
this Agreement by the other party shall be considered a waiver of any other condition
or provision or of the same condition or provision at another time.

	 	N.	 	Expenses. Each party shall bear their own legal expenses and costs in
connection with the negotiation, preparation and execution of this Agreement. In the
event that any action or proceeding is brought in connection with this Agreement the
prevailing party therein shall be entitled to recover its costs and reasonable
attorney’s fees

	 	O.	 	Executive’s Death. In the event of Executive’s death during the time
in which Scheduled Payments are to be made and/or the other benefits are to be provided
to Executive, the Company shall pay such Scheduled Payments or provide such benefits
(but only to the extent that the underlying benefit plans permit such contribution of
benefits) to such person or persons as Executive shall have directed in writing or, in
absence of a designation, the estate of Executive. In the event of Executive’s death,
reference in this Agreement to Executive shall be deemed, where appropriate, to refer
to his beneficiary, estate or other legal representative.

1

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the
Company by its duly authorized officer, as of the day and year set forth above.

MEADE INSTRUMENTS CORP.

By:/s/ Mark D. Peterson

Name: Mark D. Peterson

Title: SVP, General Counsel and Secretary

By:/s/ Brent W. Christensen

Name: Brent W. Christensen

Title: SVP and Chief Financial Officer

EXECUTIVE:

By: /s/ Steven G. Murdock

Steven G. Murdock

2

EXHIBIT A

Registration Rights Agreement

[Exhibit Excluded]

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00104-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00104-of-00352.parquet"}]]