Document:

Exhibit
10.2.2

 

RETIREMENT
AND GENERAL RELEASE AGREEMENT

 

This Retirement and
General Release Agreement (the “Agreement”) is entered into this 23rd day of
January, 2008, by and among Avocent Huntsville Corp. (“Employer”), Avocent
Corporation, and John R. Cooper (“Mr. Cooper”) to set forth the
terms and conditions of the termination of Mr. Cooper’s employment with
Avocent Huntsville Corp. and its affiliates, including without limitation
Avocent Corporation.  Avocent Huntsville
Corp. and Avocent Corporation are collectively referred to as “Employer” in this Agreement.

 

1.                                      Termination of Employment; Resignation as Chairman.  Employer and Mr. Cooper hereby agree that,
effective at the close of business on March 31, 2008 (the “Effective
Date”), Mr. Cooper will resign as a Director and as the Chief Executive
Officer and employee of Avocent Corporation and of each of its affiliates,
which resignations are hereby accepted by Avocent Corporation on behalf of
itself and each affiliate.  Mr. Cooper
and Employer agree that Mr. Cooper’s termination of employment shall be
deemed a “Termination Other Than For Cause” as defined in Sections 2.4 and 4.2
of that certain Amended and Restated Employment and Noncompetition Agreement
among Mr. Cooper, Avocent Huntsville Corp., and Avocent Corporation dated December 13, 2006
(the “Employment Agreement”) and that the benefits described in this Agreement
are pursuant to the terms of that Employment Agreement.  Effective immediately, Mr. Cooper hereby
resigns as the Chairman of the Board of Directors of Avocent Corporation.

 

2.                                      Benefits.  Mr. Cooper
shall be entitled to receive his current pay ($523,000 per annum) and benefits
through March 31, 2008.  Thereafter,
in consideration for
the release from Mr. Cooper described in Section 8 of this Agreement
and in lieu of any other benefits otherwise due to Mr. Cooper under law or
by agreement, Employer and Mr. Cooper agree that, subject to compliance by
Mr. Cooper with the terms and conditions of the Employment Agreement and
this Agreement (including the noncompetition and confidentiality provisions
described in Section 11) and in exchange for Mr. Cooper’s signature
on this Agreement and on Attachments  A and B, Mr. Cooper
will:

 

(a)           On October 2, 2008, receive a lump sum payment of One
Million Three Hundred Eighty One Thousand One Hundred Fifty-Three Dollars and
Seventy Cents ($1,381,153.70), less required withholding and deductions
(including without limitation amounts determined by Employer as the
employee-paid premium for the health plan coverage described in Section 2(d) below).

 

(b)           Be able to exercise the following vested options to
purchase Avocent Corporation shares on or before the following specified
exercise dates under the terms and conditions of the various stock option plans
of Avocent Corporation and its affiliates under which Mr. Cooper has
previously been granted options:

 

1

 

	
  Grant Date

  	
   

  	
  Exercise Date

  	
   

  	
  Shares

  	
   

  	
  Exercise Price

  	
   

  
	
  9/18/00

  	
   

  	
  9/17/2010

  	
   

  	
  40,000

  	
   

  	
  $

  	
  52.4375

  	
   

  
	
  2/22/02

  	
   

  	
  9/30/2010

  	
   

  	
  130,000

  	
   

  	
  $

  	
  21.5600

  	
   

  
	
  3/7/03

  	
   

  	
  9/30/2010

  	
   

  	
  112,500

  	
   

  	
  $

  	
  27.2500

  	
   

  
	
  2/5/04

  	
   

  	
  9/30/2010

  	
   

  	
  75,000

  	
   

  	
  $

  	
  40.9800

  	
   

  
	
  6/30/05

  	
   

  	
  9/30/2010

  	
   

  	
  28,000

  	
   

  	
  $

  	
  26.1400

  	
   

  

 

Mr. Cooper
acknowledges that he must exercise all vested options by the Exercise Dates set
forth above under the terms and conditions specified in the stock option plans
of Avocent Corporation and its affiliates or these options will terminate and
expire.

 

(c)           On the Effective Date, vest in the following unvested
restricted stock units and earned performance shares, and on such date and on
the subsequent delivery date, the minimum statutorily required federal, state,
and local withholding taxes with respect to such restricted stock units and
earned performance shares will be paid by reducing the number of vested
restricted stock units (which are payable in Avocent shares) and earned
performance shares actually delivered to Mr. Cooper, which such shares
shall be delivered to Mr. Cooper with any restrictive legends required by
the applicable securities laws and regulations on October 2, 2008:

 

	
   

  	
   

  	
  Unvested

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  2006
  Awards

  	
   

  	
   

  	
   

  
	
  2 year RSUs

  	
   

  	
  0

  	
   

  
	
  3 year RSUs

  	
   

  	
  8,602

  	
   

  
	
  Earned
  Performance Shares

  	
   

  	
  6,366

  	
   

  
	
  2006 Total

  	
   

  	
  14,968

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  2007
  Awards

  	
   

  	
   

  	
   

  
	
  3 year RSUs

  	
   

  	
  17,205

  	
   

  
	
  Earned
  Performance Shares

  	
   

  	
  0

  	
   

  
	
  2007 Total

  	
   

  	
  17,205

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  TOTAL

  	
   

  	
  32,173

  	
   

  

 

(d)           Through March 31, 2010, be
eligible for employee and dependent coverage under Employer’s medical
(including annual visits to the Cooper Clinic), dental, Section 125
medical reimbursement, and supplemental long-term disability plans in which Mr. Cooper
is a participant to the same extent as available to him prior to the Effective
Date.

 

2

 

Mr. Cooper further acknowledges and agrees that the benefits in
this Section 2 include payment for all his wages and accrued but unused
vacation, personal, sick leave, and other paid-time off through March 31, 2008,
and Mr. Cooper also acknowledges that he will not accrue any additional
vacation or be eligible for any other incentive, bonus, or commission payments
from Employer for 2007 or 2008 (except amounts previously paid to him and any
matching 401(k) contribution that Employer makes on behalf of all eligible
employees for compensation in 2008).

 

3.             Duties.  Mr. Cooper agrees that, from the date of
this Agreement through the Effective Date he will actively assist the Board of
Directors of Avocent Corporation in assuring an orderly transition of his
executive and management responsibilities, and thereafter, he will be
reasonably available upon advance notice to confer and consult with Employer on
matters with which he is familiar.

 

4.             Performance
of Duties, Pay.  Mr. Cooper
acknowledges that he will be entitled to receive the consideration specified in
Section 2 of this Agreement only if (i) at the time any such
consideration is payable, he is not in material breach of this Agreement
(including the obligation to provide the services described in Section 3
of this Agreement and the confidentiality and noncompetition obligations described
in his Employment Agreement and in Section 11 this Agreement), and (ii) he
signs and returns Attachment A confirming that he does not revoke the
Agreement, and provided that Attachment A is signed not fewer than eight
(8) calendar days after Mr. Cooper signs this Agreement.  Mr. Cooper also understands and agrees
that, as an additional condition to receiving or retaining the consideration
(including any Avocent shares received on the acceleration of the vesting of
restricted stock units or performance shares) provided for in Section 2 of
this Agreement, Mr. Cooper must execute and return to Employer the
Confirmation of Retirement and General Release Agreement attached as Attachment
B, which may not be signed any earlier than April 1, 2008.

 

5.             Medical Insurance.  Pursuant to his rights under the federal
COBRA statute and regulations and subject to the conditions of COBRA, Mr. Cooper
and his eligible dependents will have the opportunity to continue group medical
insurance through Employer after March 31, 2010, for a period of
eighteen (18) months at his expense.

 

6.             Return of Property.  Mr. Cooper will not have an office at
Employer after the Effective Date.  On
the Effective Date, he agrees to return all other Employer property in his
possession or under his control, including, but not limited to, files,
documents of any kind, notebooks, lab books, laptop computer, cell phone,
credit cards, keys and access cards to Employer, including all copies of
Employer information in any form or media, and not to delete any Employer
information which may be contained on any Employer computers or on electronic
media prior to returning such items to the Employer.

 

7.             Covenant Not to Sue.  Mr. Cooper represents that he has not
filed any complaints, charges, or lawsuits against Employer, or any of their
affiliates, and Mr. Cooper agrees that he will not do so at any time
hereafter other than to enforce the terms of this Agreement.  Employer represents that it has not filed any
complaints, charges, or lawsuits against 

 

3

 

Mr. Cooper and that, on the date of this Agreement,
the members of Avocent Corporation’s Board of Directors have no actual
knowledge of any basis for doing so.

 

8.             Complete Release.  In consideration for the continuation of
employment through the Effective Date, the payment of benefits to Mr. Cooper,
and other benefits set forth in this Agreement, John R. Cooper, on behalf of
himself, his marital community, and his and their heirs, successors, and
assigns, releases and discharges Avocent Corporation, Avocent Huntsville Corp,
and their affiliated and predecessor corporations, their employee benefit
plans, their current and former directors, officers, agents, employees, and
attorneys, and each of their respective successors and assigns (the “Released
Parties”), from any and all claims, charges, causes of action, and damages
(including attorneys’ fees and costs actually incurred), known and unknown (“Claims”),
including those Claims related in any way to Mr. Cooper’s employment with
Employer and their affiliates or the termination of his employment relationship
with Employer and their affiliates arising prior to the date of this Agreement.

 

For
the purposes of implementing a full and complete release and discharge of
Avocent Huntsville Corp., Avocent Corporation, their affiliates, and the other
Released Parties, and each of them, Mr. Cooper expressly acknowledges that
this Retirement and General Release Agreement is intended to include in its
effect, without limitation, all Claims which he does not know or suspect to
exist in his favor at the time he signs this Agreement, and that this Agreement
is intended to fully and finally resolve any such Claim or Claims.

 

This
Release specifically includes but is not limited to rights and claims under the
local, state or federal laws prohibiting discrimination in employment,
including the Civil Rights Acts, The Americans with Disabilities Act, any state
(including Alabama) antidiscrimination
act or laws, The Age Discrimination in Employment Act, the Family and
Medical Leave Act, the Employee Retirement Income Security Act, as well as any
other state or federal laws or common law theories relating to discrimination
in employment, the termination of employment, or personal injury, including
without limitation all claims for breach of contract, fraud, defamation, loss
of consortium, infliction of emotional distress, additional compensation, back
pay or benefits (other than as provided for in this Agreement).

 

9.             Voluntary Agreement; Full
Understanding; Revocation Right; Advice of Counsel.  Mr. Cooper  specifically agrees and acknowledges:  (A) that his waiver of rights under this
Agreement is knowing and voluntary as required under the Older Workers Benefit
Protection Act; (B) that he understands the terms of this Agreement; (C) that
he has been advised in writing by the Employer to consult with an attorney
prior to executing this Agreement; (D) that the Employer has given him a
period of up to twenty-one (21) days within which to consider this Agreement; (E) that,
following execution of this Agreement he has seven (7) days in which to
revoke his signature on this Agreement by providing the General Counsel of the
Employer written notice of such revocation within such 7-day time period; and (F) nothing
in this Agreement shall be construed to prohibit Mr. Cooper from filing a
charge or complaint, including a challenge to the validity of the waiver
provision of this Agreement, with the Equal Employment Opportunity Commission
or participating in any investigation conducted by the 

 

4

 

Equal Employment Opportunity Commission.  Employee further specifically agrees that
modifications to this Agreement, whether material or immaterial, do not restart
the running of the twenty-one (21) day consideration period. Mr. Cooper
also acknowledges that he has been given full opportunity to review and
negotiate this Agreement, and that he executes this Agreement only after full
reflection and analysis.

 

10.          Nonadmission.  This Retirement and General Release Agreement
shall not be construed as an admission of wrongdoing by Employer (or any of
their affiliates) or by Mr. Cooper.

 

11.          Confidentiality and Noncompetition Obligations.

 

(a)           Mr. Cooper
acknowledges that current proprietary information and confidentiality
agreements between him and Avocent Huntsville Corp. (formerly known as Cybex
Computer Products Corporations) and between him and Avocent Corporation (the “Confidentiality
Agreements”) and Section 5 of his Employment Agreement remain in full
force and effect.  Mr.  Cooper
further acknowledges that under Section 5 of his Employment Agreement, Mr. Cooper
has agreed that for a period of thirty-six (36) months thereafter, the Employee
will not, without Avocent Corporation’s prior written consent, directly or
indirectly:

 

“(a)         either alone or as a partner, joint venturer, officer,
director, employee, consultant, agent, independent contractor or stockholder of
any company or business, engage in any business activity world wide which is
substantially similar to or in direct competition with any of the business
activities of or services provided by Employer or Avocent at such time.  Notwithstanding the foregoing, the ownership by
the Employee of not more than five percent (5%) of the shares of stock of any
corporation having a class of equity securities actively traded on a national
securities exchange or on The Nasdaq Stock Market shall not be deemed, in and
of itself, to violate the prohibitions of this Section 5; or

 

(b)           solicit, in any way encourage, take away, or engage in
business with customers of Employer or Avocent (or any current or future
parent, affiliate, or subsidiary of any of them) for his own benefit in a
manner competitive with the business of Employer or Avocent or for the benefit
of any person competing with the business of Employer or Avocent worldwide; or

 

(c)           solicit, in any way encourage, take away, or employ
present or future employees or present or future consultants of Employer or Avocent
(or employees or consultants of any current or future parent, affiliate or
subsidiary of any of them) for his own benefit or for the benefit of any other
person.”

 

Mr. Cooper hereby reaffirm his confidentiality and noncompetition
obligations under the terms and conditions specified in his Confidentiality
Agreements and Employment Agreement.

 

5

 

(b)           The parties agree to
keep the terms of this Agreement confidential, and not to disclose them to
anyone other than their respective accountants, attorneys, tax authorities and
other agents with a need to know and, in the case of Mr. Cooper, his
immediate family.  Notwithstanding the
foregoing, Avocent may disclose the terms of this Agreement and file it with
the Securities and Exchange Commission (“SEC”) to the extent necessary to
comply with applicable laws, rules, and regulations, in particular those of the
SEC.  After any such filing with the SEC,
the terms so disclosed shall no longer be subject to the confidentiality obligations
of this Section 11.  Mr. Cooper
also agrees to keep confidential any proprietary or confidential information he
has regarding Avocent and its affiliates which he has obtained during his
employment with Employer, and not to disclose any such information without the
prior written approval of Employer. 
Notwithstanding the foregoing, Mr. Cooper and Employer agree and
acknowledge that Employer will issue a press release (the “Press Release”), and
may engage in communications with shareholders and analysts, relating to Mr. Cooper’s
resignation.  Mr. Cooper and
Employer agree to cooperate in the preparation of the Press Release and in
communications with shareholders and analysts. 
Mr. Cooper and Employer agree that any conversations with
shareholders and analysts will not be inconsistent with the Press Release.  Mr. Cooper agrees that he will not
convey to shareholders or analysts any proprietary or confidential information
of Avocent or its affiliates

 

12.          Applicable
Law.  This Agreement shall be interpreted
in accordance with the laws of the State of Alabama.  Language in this Agreement shall in all cases
be construed as a whole, according to its fair meaning, and not strictly for or
against either party.

 

13.          Notices.  All notices and
other communications required or permitted hereunder shall be in writing, shall
be effective when given, and shall in any event be deemed to be given upon
receipt or, if earlier, (a) one business day after the business day of
deposit with Federal Express, UPS, DHL, or similar overnight courier, freight
prepaid or (b) one business day after the business day of facsimile or
electronic transmission (including by email), if delivered by facsimile or
electronic transmission with copy by first class mail, postage prepaid, and shall
be addressed (i) if to Mr. Cooper, at his address as set forth
beneath his signature to this Agreement, and (ii) if to Avocent
(attention:  Mr. Edwin L. Harper,
Chairman), 4991 Corporate Drive, Huntsville, Alabama 35805 with a copy to
Avocent (attention: 
Samuel F. Saracino, General Counsel), 9911 Willows Road N.E.,
Redmond, Washington 98052, or at such other address as a party may designate by
three days’ advance written notice to the other party pursuant to the
provisions above.

 

14.          Arbitration.  Any and all disputes arising out of or
relating to the interpretation or application of this Agreement or the breach
thereof shall be resolved by arbitration in Huntsville, Alabama, using a single
arbitrator, administered by the American Arbitration Association under its
National Rules for the Resolution of Employment Disputes.  The award shall be in writing.  Judgment on the award rendered by the
arbitrator may be entered in any court having jurisdiction thereof.  In the event it is necessary for either party
to commence arbitration in connection with this Agreement or its breach, the
prevailing party in such arbitration shall be entitled to reimbursement for its
reasonable costs and attorneys’ fees incurred.

 

6

 

15.          Severability.  If any portion of this Agreement is held to
be invalid or unenforceable for any reason, the remaining covenants shall
remain in full force and effect to the maximum extent permitted by law.

 

16.          Entire Agreement. This
Agreement, along with the
Employment Agreement, the Confidentiality Agreements and the Employer’s various
benefit plan documents, constitutes the entire agreement of
the parties with respect to the matters covered in this Agreement and
supersedes any previous agreements, whether written or oral. Mr. Cooper
warrants that no promise or inducement has been offered for this Agreement
other than as set forth herein and that this Agreement is executed without
reliance upon any other promises or representations, oral or written.  Any modification of this Agreement must be
made in writing and be signed by Mr. Cooper and the Employer.

 

PLEASE READ CAREFULLY. 
THIS AGREEMENT INCLUDES

A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

 

	
   

  	
  AVOCENT HUNTSVILLE CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Doyle C. Weeks

  
	
   

  	
  Its:

  	
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  AVOCENT CORPORATION:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Doyle C. Weeks

  
	
   

  	
  Its:

  	
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  EMPLOYEE:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ John R. Cooper

  
	
   

  	
  John R. Cooper

  	
   

  
				

 

7

 

ATTACHMENT A

 

STATEMENT OF NON-REVOCATION

AS OF THE DATE SHOWN ON THIS FORM

 

By
signing below, I hereby verify that I have chosen not to revoke my agreement to
and execution of the Retirement and General Release Agreement.  My signature confirms my renewed agreement to
the terms of that Agreement, including the release, waiver, and discharge of
Avocent Corporation, Avocent Huntsville Corp., and their affiliated and
predecessor corporations, their employee benefit plans, their current and
former directors, officers, agents, employees, and attorneys, and each of their
respective successors and assigns from any and all claims relating to my
employment with Avocent Corporation, Avocent Huntsville Corp., and their
affiliates and/or the termination of that employment.

 

 

	
   

  	
   

  	
   

  
	
  John
  R. Cooper

  	
   

  	
  Date

  

 

*DO NOT SIGN, DATE OR RETURN THIS DOCUMENT UNTIL EIGHT (8) DAYS
AFTER YOU SIGN THE RETIREMENT AND GENERAL RELEASE AGREEMENT.

 

8

 

ATTACHMENT B

 

CONFIRMATION OF RETIREMENT AND GENERAL RELEASE

 

By
signing below, I hereby acknowledge and confirm my agreement to all the terms
of the Resignation and General Release Agreement (“Agreement”).  I also agree that, as of the date I sign this
document, I release and waive any and all additional employment claims (e.g.,
statutory employment claims, wrongful discharge types of claims or related
claims, breach of employment contract types of claims, but not claims for
breach of the Agreement itself) I may have against Avocent Huntsville Corp.,
Avocent Corporation, their affiliated and predecessor corporations, their
employee benefit plans, their current and former directors, officers, agents,
employees, and attorneys, and each of their respective successors and assigns
relating to my employment with Avocent Corporation, Avocent Huntsville Corp.,
and their affiliates and/or the termination of that employment which I would
not have but for my being an employee of Avocent Corporation, Avocent
Huntsville Corp., and their affiliates since the time I signed the Agreement,
as well as releasing and waiving any and all other claims referenced in Section 8
of the Agreement to the extent permitted by law.

 

	
   

  	
   

  	
   

  
	
  John
  R. Cooper

  	
   

  	
  Date*

  

 

*DO NOT SIGN, DATE OR RETURN THIS DOCUMENT

BEFORE APRIL 1, 2008

 

9Exhibit
10.4

 

EMPLOYMENT AND
NONCOMPETITION AGREEMENT

 

THIS
EMPLOYMENT AND NONCOMPETITION AGREEMENT (the “Agreement”) is made and entered
into as of January 2, 2008, by and among Avocent Huntsville Corp., an
Alabama corporation (“Employer”), Avocent Corporation, a Delaware corporation,
and Kay E. Kienast (the “Employee”).

 

RECITALS

 

WHEREAS,
Avocent Corporation and its affiliates (collectively referred to in this
Agreement as “Avocent”) are engaged in the business of designing, manufacturing, and selling connectivity and
centralized management of information technology infrastructure solutions for
enterprise data centers, branch offices, and
small to medium size businesses worldwide;

 

WHEREAS, Employee, Employer, and Avocent Corporation now wish to enter
into this Employment and Noncompetition Agreement, and Employee is willing to
accept employment as Avocent’s Executive Vice President – Chief Marketing
Officer on the terms and subject to the conditions set forth in this Agreement.

 

AGREEMENT

 

THE
PARTIES HERETO AGREE AS FOLLOWS:

 

1.             DUTIES. During the term of this Agreement,
the Employee agrees to be employed by Employer and to serve Avocent as its
Executive Vice President – Chief Marketing Officer. The Employee shall devote
such of her business time, energy, and skill to the affairs of Avocent and
Employer as shall be necessary to perform the duties of Chief Marketing
Officer. The Employee shall report to the Chief Executive Officer of Avocent
Corporation and to the Board of Directors of Avocent Corporation, and at all
times during the term of this Agreement, the Employee shall have powers and
duties at least commensurate with her position as Chief Marketing Officer of
Avocent Corporation.

 

2.             TERM OF EMPLOYMENT.

 

2.1           DEFINITIONS. For purposes of this Agreement
the following terms shall have the following meanings:

 

(a)           “TERMINATION FOR CAUSE” shall mean
termination by the Employer or Avocent Corporation of the Employee’s employment
with the Employer or Avocent by reason of the Employee’s willful dishonesty towards,
fraud upon, or deliberate injury or attempted injury to, the Employer or
Avocent or by reason of the Employee’s willful material breach of this
Agreement which has resulted in material injury to the Employer or Avocent.

 

(b)   “TERMINATIONS OTHER THAN FOR CAUSE” shall
mean termination by the Employer or Avocent Corporation of the Employee’s
employment with the Employer or Avocent (other than in a Termination for Cause)
and shall include any constructive termination of the Employee’s employment by
reason of material breach of this Agreement by the Employer or Avocent, such
constructive termination to be effective upon thirty (30) days written 

 

1

 

notice
from the Employee to the Employer of such constructive termination; provided,
however, that the term “Termination Other Than for Cause” shall not
include Employer’s termination of Employee if Employee has not commenced living
(in temporary accommodations) in the Huntsville, Alabama area by January 14,
2008, and competed her physical relocation to the Huntsville, Alabama area by May 31, 2008,
and any such termination of Employee by Employer shall be treated as a “Voluntary
Termination” by Employee under this Agreement.

 

(c)           “VOLUNTARY TERMINATION” shall mean termination
by the Employee of the Employee’s employment with the Employer or Avocent other
than (i) constructive termination as described in subsection 2.1(b), (ii) “Termination
Upon a Change in Control” as described in Section 2.1(e), and (iii) termination
by reason of the Employee’s disability or death as described in
Sections 2.5 and 2.6. “Voluntary Termination” shall also include Employer’s
termination of Employee if Employee has not commenced living (in temporary
accommodations) in the Huntsville, Alabama area by January 14, 2008, and
competed her physical relocation to the Huntsville, Alabama area by May 31, 2008.

 

(d)           “TERMINATION UPON A CHANGE IN CONTROL” shall
mean (i) a termination by the Employee of the Employee’s employment with
the Employer or Avocent within six (6) months following any “Change in
Control” or (ii) any termination by the Employer or Avocent Corporation of
the Employee’s employment with the Employer or Avocent (other than a
Termination for Cause) within eighteen (18) months following any “Change in
Control.”

 

(e)           “CHANGE IN CONTROL” shall mean, after the
date of this Agreement, any one of the following events:

 

(i)            Any person (other than Avocent Corporation)
acquires beneficial ownership of Employer’s or Avocent Corporation’s securities
and is or thereby becomes a beneficial owner of securities entitling such
person to exercise twenty-five percent (25%) or more of the combined voting
power of Employer’s or Avocent Corporation’s then outstanding stock. For
purposes of this Agreement, “beneficial ownership” shall be determined in
accordance with Regulation 13D under the Securities Exchange Act of 1934,
or any similar successor regulation or rule; and the term “person” shall
include any natural person, corporation, partnership, trust or association, or
any group or combination thereof, whose ownership of Employer’s or Avocent
Corporation’s securities would be required to be reported under such
Regulation 13D, or any similar successor regulation or rule.

 

(ii)           Within any twenty-four (24) month period, the
individuals who were Directors of Avocent Corporation at the beginning of any
such period, together with any other Directors first elected as directors of
Avocent Corporation pursuant to nominations approved or ratified by at least
two-thirds (2/3) of the Directors in office immediately prior to any such
election, cease to constitute a majority of the Board of Directors of Avocent
Corporation.

 

(iii)          Avocent Corporation’s stockholders approve:

 

(1)           any consolidation or merger of Avocent Corporation
in which Avocent Corporation is not the continuing or surviving corporation or
pursuant to which shares of Avocent Corporation common stock would be converted
into cash, securities or other property, other than a merger or consolidation
of Avocent Corporation in which the holders of 

 

2

 

Avocent
Corporation’s common stock immediately prior to the merger or consolidation
have substantially the same proportionate ownership and voting control of the
surviving corporation immediately after the merger or consolidation; or

 

(2)           any sale, lease, exchange, liquidation or
other transfer (in one transaction or a series of transactions) of all or
substantially all of the assets of Avocent Corporation.

 

Notwithstanding subparagraphs (e)(iii)(1) and (e)(iii)(2) above,
the term “Change in Control” shall not include a consolidation, merger, or
other reorganization if upon consummation of such transaction all of the
outstanding voting stock of Avocent Corporation is owned, directly or
indirectly, by a holding company, and the holders of Avocent Corporation’s
common stock immediately prior to the transaction have substantially the same
proportionate ownership and voting control of such holding company after such
transaction.

 

2.2           TERM. The term of employment of the Employee
by the Employer under this Agreement shall begin on the date of this Agreement,
and end when such employment is terminated under any of the provisions of this
Agreement.

 

2.3           TERMINATION FOR CAUSE. Termination For Cause
may be effected by the Employer at any time during the term of this Agreement
and shall be effected by thirty (30) days written notification to the Employee
from the Boards of Directors of Employer and Avocent Corporation stating the reason
for termination. Upon Termination For Cause, the Employee immediately shall be
paid all accrued salary, bonus compensation to the extent earned, vested
deferred compensation, if any (other than pension plan or profit sharing plan
benefits which will be paid in accordance with the applicable plan), any
benefits under any plans of Employer or Avocent in which the Employee is a
participant to the full extent of the Employee’s rights under such plans,
accrued vacation pay and any appropriate business expenses incurred by the
Employee in connection with her duties hereunder, all to the date of
termination, but the Employee shall not be paid any other compensation or
reimbursement of any kind, including without limitation, severance
compensation.

 

2.4           TERMINATION OTHER THAN FOR CAUSE. Notwithstanding
anything else in this Agreement, the Employer may effect a Termination Other
Than For Cause at any time upon giving thirty (30) days written notice to the
Employee of such termination. Upon any Termination Other Than For Cause, the
Employee shall immediately be paid all accrued salary, bonus compensation to
the extent earned, vested deferred compensation, if any (other than pension
plan or profit sharing plan benefits which will be paid in accordance with the
applicable plan), any benefits under any plans of Employer or Avocent in which
the Employee is a participant to the full extent of the Employee’s rights under
such plans, accrued vacation pay and any appropriate business expenses incurred
by the Employee in connection with her duties hereunder, all to the date of
termination, and all severance compensation provided in Section 4.2, but
no other compensation or reimbursement of any kind.

 

2.5           TERMINATION BY REASON OF DISABILITY. If,
during the term of this Agreement, the Employee, in the reasonable judgment of
the Board of Directors of Avocent Corporation, has failed to perform her duties
under this Agreement on account of illness or physical or mental incapacity,
and such illness or incapacity continues for a period of more than six (6) 

 

3

 

consecutive
months, the Employer shall have the right to terminate the Employee’s
employment hereunder by delivery of written notice to the Employee at any time
after such six month period and payment to the Employee of all accrued salary,
bonus compensation to the extent earned, additional bonus compensation in an
amount equal to the average annual bonus earned by the Employee as an employee
of Avocent Corporation and its affiliates and predecessors in the two (2) years
immediately preceding the date of termination, vested deferred compensation, if
any (other than pension plan or profit sharing plan benefits which will be paid
in accordance with the applicable plan), any benefits under any plans of
Employer or Avocent in which the Employee is a participant to the full extent
of the Employee’s rights under such plans (including having the vesting of any
awards granted to the Employee under any Avocent stock option, restricted
stock, performance share, or other equity plans deemed and treated as fully
earned and accelerated), accrued vacation pay and any appropriate business
expenses incurred by the Employee in connection with her duties hereunder, all
to the date of termination, with the exception of medical and dental benefits
which shall continue for a period of twelve (12) months from the date of such
notice of termination, but the Employee shall not be paid any other
compensation or reimbursement of any kind, including without limitation,
severance compensation.

 

2.6           TERMINATION BY REASON OF DEATH. In the event
of the Employee’s death during the term of this Agreement, the Employee’s
employment shall be deemed to have terminated as of the last day of the month
during which her death occurs and the Employer shall pay to her estate or such
beneficiaries as the Employee may from time to time designate all accrued
salary, bonus compensation to the extent earned, vested deferred compensation,
if any (other than pension plan or profit sharing plan benefits which will be
paid in accordance with the applicable plan), any benefits under any plans of
Employer or Avocent in which the Employee is a participant to the full extent
of the Employee’s rights under such plans (including having the vesting of any
awards granted to the Employee under any Avocent stock option, restricted
stock, performance share, or other equity plans deemed and treated as fully
earned and accelerated), accrued vacation pay and any appropriate business
expenses incurred by the Employee in connection with her duties hereunder, all
to the date of termination, but the Employee’s estate shall not be paid any
other compensation or reimbursement of any kind, including without limitation,
severance compensation.

 

2.7           VOLUNTARY TERMINATION. Notwithstanding
anything else in this Agreement, the Employee may effect a Voluntary
Termination at any time upon giving thirty (30) days written notice to the
Employer of such termination. In the event of a Voluntary Termination, the
Employer shall immediately pay all accrued salary, bonus compensation to the
extent earned, vested deferred compensation, if any (other than pension plan or
profit sharing plan benefits which will be paid in accordance with the
applicable plan), any benefits under any plans of Employer or Avocent in which
the Employee is a participant to the full extent of the Employee’s rights under
such plans, accrued vacation pay and any appropriate business expenses incurred
by the Employee in connection with her duties hereunder, all to the date of
termination, but no other compensation or reimbursement of any kind, including
without limitation, severance compensation.

 

2.8           TERMINATION UPON A CHANGE IN CONTROL. In the
event of a Termination Upon a Change in Control, the Employee shall immediately
be paid all accrued salary, bonus compensation to the extent earned, vested
deferred compensation, if any (other than pension plan or profit sharing plan
benefits which will be paid in accordance with the applicable plan), any
benefits under any plans of Employer or Avocent in which the Employee is a
participant to the full extent of the Employee’s rights under such plans
(including having the vesting of any awards 

 

4

 

granted
to the Employee under any Avocent stock option, restricted stock, performance
share, or other equity plans deemed and treated as fully earned and
accelerated), accrued vacation pay and any appropriate business expenses
incurred by the Employee in connection with her duties hereunder, all to the
date of termination, and all severance compensation provided in Section 4.1,
but no other compensation or reimbursement of any kind.

 

3.     SALARY, BENEFITS AND BONUS COMPENSATION.

 

3.1           BASE SALARY. Effective January 7, 2008, as payment for the
services to be rendered by the Employee as provided in Section 1 and
subject to the terms and conditions of Section 2, the Employer agrees to
pay to the Employee a “Base Salary” at the rate of $275,000.00 per annum,
payable in equal bi-weekly installments. The Base Salary for each calendar year
(or proration thereof) beginning January 1, 2009  shall
be determined by the Board of Directors of Avocent Corporation upon a
recommendation of the Compensation
Committee of Avocent Corporation (the “Compensation Committee”), which
shall authorize an increase in the Employee’s Base Salary in an amount which,
at a minimum, shall be equal to the cumulative cost-of-living increment on the
Base Salary as reported in the “Consumer
Price Index for All Urban Consumers(CPI-U), All Items Index” for South Urban
Size A, published by the U.S. Department of Labor (using January 1, 2008,
as the base date for computation prorated for any partial year).  The Employee’s Base Salary shall be reviewed annually by
the Board of Directors and the Compensation Committee of Avocent Corporation.

 

3.2           BONUSES. The Employee shall be eligible to
receive a bonus for each calendar year (or portion thereof) during the term of
this Agreement and any extensions thereof, with the actual amount of any such
bonus to be determined in the sole discretion of the Compensation Committee of
the Board of Directors of Avocent Corporation based upon its evaluation of the
Employee’s performance during such year. All such bonuses shall be payable
during the last month of the fiscal year or within forty-five (45) days after
the end of the fiscal year to which such bonus relates. All such bonuses shall
be reviewed annually by the Compensation
Committee of Avocent Corporation.

 

3.3           ADDITIONAL BENEFITS. During the term of this
Agreement, the Employee shall be entitled to the following fringe benefits:

 

(a)           THE EMPLOYEE BENEFITS. The Employee shall be
eligible to participate in such of Avocent’s benefits and deferred compensation
plans as are now generally available or later made generally available to
executive officers or Avocent, including, without limitation, stock option,
restricted stock, performance share, and other equity plans, Section 401(k) plan,
profit sharing plans, deferred compensation plan, annual physical examinations,
dental and medical plans, personal catastrophe and disability insurance,
retirement plans and supplementary executive retirement plans, if any. For
purposes of establishing the length of service under any benefit plans or
programs of Avocent, the Employee’s employment with the Employer (or any
successor) will be deemed to have commenced on the date that Employee first
commenced employment, which was January 7, 2008.

 

(b)           VACATION. The Employee shall be entitled to
vacation in accordance with the Avocent Corporation’s vacation policy but in no
event less than three (3) weeks during each year of this Agreement.

 

5

 

(c)           LIFE INSURANCE. For the term of this
Agreement and any extensions thereof, the Employer shall at its expense procure
and keep in effect term life insurance on the life of the Employee, payable to
such beneficiaries as the Employee may from time to time designate, in an
aggregate amount equal to three times the Employee’s Base Salary. Such policy
shall be owned by the Employee or by any person or entity with an insurable
interest in the life of the Employee.

 

(d)           REIMBURSEMENT FOR EXPENSES. During the term
of this Agreement, the Employer or Avocent Corporation shall reimburse the Employee
for reasonable and properly documented out-of-pocket business and/or
entertainment expenses incurred by the Employee in connection with her duties
under this Agreement in accordance with Avocent’s standard reimbursement
policies.

 

4.             SEVERANCE COMPENSATION.

 

4.1           SEVERANCE COMPENSATION IN THE EVENT OF A
TERMINATION UPON A CHANGE IN CONTROL. In the event of a Termination Upon a
Change in Control, the Employee shall be paid as severance compensation her
Base Salary (at the rate payable at the time of such termination) for a period
of twelve (12) months from the date of such Termination Upon a Change in
Control, on the dates specified in Section 3.1, and the Employee shall
also be paid an amount equal to the average annual bonus earned by the Employee
as an employee of Avocent Corporation and its affiliates and predecessors in
the two (2) years immediately preceding the date of termination. Notwithstanding
anything in this Section 4.1 to the contrary, the Employee may in the
Employee’s sole discretion, by delivery of a notice to the Employer within
thirty (30) days following a Termination Upon a Change in Control, elect to
receive from the Employer a lump sum severance payment by bank cashier’s check
equal to the present value of the flow of cash payments that would otherwise be
paid to the Employee pursuant to this Section 4.1. Such present value
shall be determined as of the date of delivery of the notice of election by the
Employee and shall be based on a discount rate equal to the interest rate of 90-day
U.S. Treasury bills, as reported in The Wall Street Journal
(or similar publication), on the date of delivery of the election notice. If
the Employee elects to receive a lump sum severance payment, Avocent
Corporation shall cause the Employer to make such payment to the Employee
within ten (10) days following the date on which the Employee notifies the
Employer of the Employee’s election. The Employee shall also be entitled to
have the vesting of any awards granted to the Employee under any Avocent stock
option, restricted stock, performance share, or other equity plans deemed and
treated as fully earned and accelerated. The Employee shall be provided with
medical plan benefits under any health plans of Avocent or Employer in which
the Employee is a participant to the full extent of the Employee’s rights under
such plans for a period of twelve (12) months from the date of such Termination
Upon a Change in Control (even if Employee elects to receive a lump sum
severance payment).

 

4.2           SEVERANCE COMPENSATION IN THE EVENT OF A
TERMINATION OTHER THAN FOR CAUSE. In the event of a Termination Other Than for
Cause, the Employee shall be paid as severance compensation her Base Salary (at
the rate payable at the time of such termination) for a period of twelve (12)
months from the date of such termination, on the dates specified in Section 3.1,
and Employee shall also be paid an amount equal to the average annual bonus
earned by the Employee as an employee of Avocent Corporation and its affiliates
and predecessors in the two (2) years immediately preceding the date of
termination. Notwithstanding anything in this Section 4.2 to the contrary,
the Employee may in the Employee’s sole discretion, by 

 

6

 

delivery
of a notice to the Employer within thirty (30) days following a Termination
Other Than for Cause, elect to receive from the Employer a lump sum severance
payment by bank cashier’s check equal to the present value of the flow of cash
payments that would otherwise be paid to the Employee pursuant to this Section 4.2.
Such present value shall be determined as of the date of delivery of the notice
of election by the Employee and shall be based on a discount rate equal to the
interest rate on 90-day U.S. Treasury bills, as reported in The Wall Street Journal (or similar publication), on the
date of delivery of the election notice. If the Employee elects to receive a
lump sum severance payment, Avocent Corporation shall cause the Employer to
make such payment to the Employee within ten (10) days following the date
on which the Employee notifies the Employer of the Employee’s election. The
Employee shall also be entitled to have the vesting of any awards granted to
the Employee under any Avocent stock option, restricted stock, performance
share, or other equity plans deemed and treated as fully earned and
accelerated. The Employee shall be provided with medical plan benefits under
any health plans of Avocent or Employer in which the Employee is a participant
to the full extent of the Employee’s rights under such plans for a period of
twelve (12) months from the date of such Termination Other Than for Cause (even
if Employee elects to receive a lump sum severance payment).

 

4.3           NO SEVERANCE COMPENSATION UNDER OTHER
TERMINATION. In the event of a Voluntary Termination, Termination For Cause,
termination by reason of the Employee’s disability pursuant to Section 2.5,
termination by reason of the Employee’s death pursuant to Section 2.6, the
Employee or her estate shall not be paid any severance compensation.

 

4.4           SECTION 409A COMPLIANCE. Notwithstanding anything to the contrary
in this Agreement, any cash severance payments otherwise due to Employee
pursuant to Section 4 or otherwise on or within the six-month period
following Employee’s termination will accrue during such six-month period and
will become payable in a lump sum payment on the date six (6) months and
one (1) day following the date of Employee’s termination, provided, that
such cash severance payments will be paid earlier, at the times and on the
terms set forth in the applicable provisions of Section 4, if Employer
reasonably determines that the imposition of additional tax under Section 409A
of the Internal Revenue Code of 1986, as amended, will not apply to an earlier
payment of such cash severance payments. In addition, this Agreement will be
deemed amended in Employer’s reasonable discretion to the extent necessary to
avoid imposition of any additional tax or income recognition prior to actual
payment to Employee under Code Section 409A and any temporary, proposed or
final Treasury Regulations and guidance promulgated thereunder and the parties
agree to cooperate with each other and to take reasonably necessary steps in
this regard so as not to reduce the benefits provided to Employee under this
Agreement. Employer agrees to notify Employee of any such proposed amendments
prior to implementing any such amendment.

 

5.             NON-COMPETITION OBLIGATIONS. Unless waived or
reduced by the Employer or Avocent, during the term of this Agreement and for a
period of twelve (12) months thereafter, the Employee will not, without the
Employer’s and Avocent Corporation’s prior written consent, directly or
indirectly:

 

(a)   either alone or as a partner,
joint venturer, officer, director, employee, consultant, agent, independent
contractor or stockholder of any company or business, engage in any business
activity world wide which is substantially similar to or in direct competition
with any of the business activities of or services provided by Employer or
Avocent at such time. Notwithstanding the foregoing, the ownership by the
Employee of not more than five percent (5%) 

 

7

 

of the shares of stock of
any corporation having a class of equity securities actively traded on a
national securities exchange or on The Nasdaq Stock Market shall not be deemed,
in and of itself, to violate the prohibitions of this Section 5; or

 

(b)   solicit, in any way encourage, take away, or
engage in business with customers of Employer or Avocent (or any current or
future parent, affiliate, or subsidiary of any of them) for her own benefit in
a manner competitive with the business of Employer or Avocent or for the
benefit of any person competing with the business of Employer or Avocent
worldwide; or

 

(c)   solicit, in any way encourage, take away, or employ present or future
employees or present or future consultants of
Employer or Avocent (or employees or consultants of any
current or future parent, affiliate or subsidiary of any of them) for her own
benefit or for the benefit of any other person.

 

6.             MISCELLANEOUS.

 

6.1           PAYMENT OBLIGATIONS. If litigation after a
Change in Control shall be brought to enforce or interpret any provision
contained herein, the Employer and Avocent Corporation, to the extent permitted
by applicable law and the Employer’s and Avocent Corporation’s Articles of
Incorporation and Bylaws, each hereby indemnifies the Employee for the Employee’s
reasonable attorneys’ fees and disbursements incurred in such litigation.

 

6.2           GUARANTEE. Avocent Corporation hereby
unconditional and irrevocable guarantees all payment obligations of the
Employer under this Agreement, including, without limitation, the Employer’s
obligations under Sections 2, 3, 4, and 6 hereof.

 

6.3           WITHHOLDINGS. All compensation and benefits
to the Employee hereunder shall be reduced by all federal, state, local, and
other withholdings and similar taxes and payments required by applicable law.

 

6.4           WAIVER. The waiver of the breach of any
provision of this Agreement shall not operate or be construed as a waiver of
any subsequent breach of the same or other provision hereof.

 

6.5           ENTIRE AGREEMENT; MODIFICATIONS. Except as
otherwise provided herein, this Agreement represents the entire understanding
among the parties with respect to the subject matter hereof, and this Agreement
supersedes any and all prior understandings, agreements, plans and
negotiations, whether written or oral with respect to the subject matter
hereof,  and any understandings,
agreements, or obligations respecting any past or future compensation, bonuses,
reimbursements or other payments to the Employee from the Employer or Avocent
Corporation. All modifications to the Agreement must be in writing and signed
by the party against whom enforcement of such modification is sought.

 

6.6           NOTICES. All notices and other communications
under this Agreement shall be in writing and shall be given by hand delivery or
first class mail, certified or registered with return receipt requested, and
shall be deemed to have been duly given upon hand delivery to an officer of the
Employer or the Employee, as the case may be, or upon three (3) days after
mailing to the respective persons named below:

 

8

 

	
  If to the Employer/Avocent:

  	
   

  	
  Avocent Corporation

  
	
   

  	
   

  	
  4991 Corporate Drive

  
	
   

  	
   

  	
  Huntsville, AL 35805

  
	
   

  	
   

  	
  Attn: President

  
	
   

  	
   

  	
  Copy to: General Counsel

  
	
   

  	
   

  	
   

  
	
  If to the Employee:

  	
   

  	
  Kay E. Kienast

  

 

Any party may change such party’s address for notices by notice duly
given pursuant to this Section 6.6.

 

6.7           HEADINGS. The Section headings herein
are intended for reference and shall not by themselves determine the
construction or interpretation of this Agreement.

 

6.8           GOVERNING LAW; VENUE. This Agreement shall be
governed by and construed in accordance with the laws of the State of Alabama. The
Employee, the Employer, and Avocent Corporation each hereby expressly consents
to the exclusive venue of the state and federal courts located in Huntsville,
Alabama, for any lawsuit arising from or relating to this Agreement.

 

6.9           ARBITRATION. Any controversy or claim arising
out of or relating to this Agreement, or breach thereof, shall be settled by
arbitration in Huntsville, Alabama, in accordance with the Rules of the
American Arbitration Association, and judgment upon any proper award rendered
by the arbitrators may be entered in any court having jurisdiction thereof. There
shall be three (3) arbitrators, one (1) to be chosen directly by each
party at will, and the third arbitrator to be selected by the two (2) arbitrators
so chosen. To the extent permitted by the Rules of the American
Arbitration Association, the selected arbitrators may grant equitable relief. Each
party shall pay the fees of the arbitrator selected by him and of her own
attorneys, and the expenses of her witnesses and all other expenses connected
with the presentation of her case. The cost of the arbitration including the
cost of the record or transcripts thereof, if any, administrative fees, and all
other fees and costs shall be borne equally by the parties.

 

6.10         SEVERABILITY. If a court or other body of
competent jurisdiction determines that any provision of this Agreement is
excessive in scope or otherwise invalid or unenforceable, such provision shall
be adjusted rather than voided, if possible, and all other provisions of this
Agreement shall be deemed valid and enforceable to the extent possible.

 

6.11         SURVIVAL OF EMPLOYER’S OBLIGATIONS. The
Employer’s and Avocent Corporation’s obligations hereunder shall not be
terminated by reason of any liquidation, dissolution, bankruptcy, cessation of
business, or similar event relating to the Employer or Avocent Corporation. This
Agreement shall not be terminated by any merger or consolidation or other
reorganization of the Employer or Avocent Corporation. In the event any such
merger, consolidation or reorganization shall be accomplished by transfer of
stock or by transfer of assets or otherwise, the provisions of this Agreement
shall be binding upon and inure to the benefit of the surviving or resulting
corporation or person. This Agreement shall be binding upon and inure to the
benefit of the executors, administrators, heirs, successors and assigns of the
parties; provided, however, that except as herein expressly provided, this
Agreement shall not be assignable either by 

 

9

 

the
Employer (except to an affiliate of the Employer (including Avocent
Corporation) in which event the Employer shall remain liable if the affiliate
fails to meet any obligations to make payments or provide benefits or
otherwise) or by the Employee.

 

6.12         COUNTERPARTS. This Agreement may be executed
in one or more counterparts, all of which taken together shall constitute one
and the same Agreement.

 

6.13         INDEMNIFICATION. In addition to any rights to
indemnification to which the Employee is entitled to under the Employer’s or
Avocent Corporation’s Articles of Incorporation and Bylaws, the Employer and
Avocent Corporation shall indemnify the Employee at all times during and after
the term of this Agreement to the maximum extent permitted under the
corporation laws of the State of Delaware and any other applicable state law,
and shall pay the Employee’s expenses in defending any civil or criminal
action, suit, or proceeding in advance of the final disposition of such action,
suit, or proceeding, to the maximum extent permitted under such applicable
state laws.

 

6.14         INDEMNIFICATION FOR SECTION 4999 EXCISE
TAXES. In the event that it shall be determined that any payment or other
benefit paid by the Employer or Avocent Corporation to or for the benefit of
the Employee under this Agreement or otherwise, but determined without regard
to any additional payments required under this Agreement (the “Payments”) would
be subject to the excise tax imposed by Section 4999 of the Internal
Revenue Code (the “Excise Tax”), then the Employer and Avocent Corporation
shall indemnify the Employee for such Excise Tax in accordance with the
following:

 

(a)   The Employee shall be entitled to receive an
additional payment from the Employer and/or Avocent Corporation equal to (i) one
hundred percent (100%) of any Excise Tax actually paid or payable by the
Employee in connection with the Payments, plus (ii) an additional payment
in such amount that after all taxes, interest and penalties incurred in
connection with all payments under this Section 2(a), the Employee retains
an amount equal to one hundred percent (100%) of the Excise Tax.

 

(b)   All determinations required to be made under
this Section shall be made by the Avocent Corporation’s primary
independent public accounting firm, or any other nationally recognized
accounting firm reasonably acceptable to Avocent Corporation and the Employee
(the “Accounting Firm”). Avocent Corporation shall cause the Accounting Firm to
provide detailed supporting calculations of its determinations to the Employer
and the Employee. All fees and expenses of the Accounting Firm shall be borne
solely by the Employer. For purposes of making the calculations required by
this Section, the Accounting Firm may make reasonable assumptions and
approximations concerning applicable taxes and may rely on reasonable, good
faith interpretations concerning the application of Sections 280G and 4999 of
the Internal Revenue Code, provided the Accounting Firm’s determinations must
be made with substantial authority (within the meaning of Section 6662 of
the Internal Revenue Code). The payments to which the Employee is entitled
pursuant to this Section shall be paid by the Employer and/or Avocent
Corporation to the Employee in cash and in full not later than thirty (30)
calendar days following the date the Employee becomes subject to the Excise
Tax.

 

Signature Page Follows

 

10

 

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

 

 

	
   

  	
  AVOCENT
  HUNTSVILLE CORP.:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Doyle C. Weeks

  
	
   

  	
  Its:

  	
  President & Chief Operating Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  AVOCENT CORPORATION:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Doyle C. Weeks

  
	
   

  	
  Its:

  	
  President & Chief Operating Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EMPLOYEE:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Kay E. Kienast

  
	
   

  	
  Kay E. Kienast

  
				

 

11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]