Document:

Form of Change in Control Agrmt b/w Oceanfirst Financial & Iantosca

 Exhibit 10.19 
  
 OCEANFIRST FINANCIAL CORP. 
 TWO
YEAR CHANGE IN CONTROL AGREEMENT 
  
 This AGREEMENT is
made effective as of February 18, 2004, by and between OceanFirst Financial Corp. (the “Holding Company”), a corporation organized under the laws of the State of Delaware, with its office at 975 Hooper Avenue, Toms River, New Jersey 08753,
and Joseph R. Iantosca (“Executive”). The term “Bank” refers to OceanFirst Bank, the wholly-owned subsidiary of the Holding Company or any successor thereto. 
  
 WHEREAS, the Holding Company wishes to protect his position for the period provided in this Agreement; and 
  
 WHEREAS, Executive has agreed to serve in the employ of the Holding Company
or an affiliate thereof. 
  
 NOW, THEREFORE, in consideration of
the contribution and responsibilities of Executive, and upon the other terms and conditions hereinafter provided, the parties hereto agree as follows: 
  

	1.	TERM OF AGREEMENT. 

  
 The period of this Agreement shall be deemed to have commenced as of the date first above written and shall continue for a period of twenty-four (24) full
calendar months thereafter. Commencing on the date of the execution of this Agreement, the term of this Agreement shall be extended for one day each day until such time as the board of directors of the Holding Company (the “Board”) or
Executive elects not to extend the term of the Agreement by giving written notice to the other party in accordance with Section 8 of this Agreement, in which case the term of this Agreement shall be fixed and shall end on the third anniversary of
the date of such written notice. 
  

	2.	CHANGE IN CONTROL. 

  
 (a) Upon the occurrence of a Change in Control of the Holding Company (as herein defined) followed at any time during the term of this Agreement by the
termination of Executive’s employment, the provisions of Section 3 shall apply. Upon the occurrence of a Change in Control, Executive shall have the right to elect to voluntarily terminate his employment at any time during the term of this
Agreement following any demotion, loss of title, office or significant authority, reduction in annual compensation or material reduction in benefits, or relocation of his principal place of employment by more than 25 miles from its location
immediately prior to the Change in Control, unless such termination is because of death or termination for cause. 
  
 (b) For purposes of this Agreement, a “Change in Control” of the Bank or Holding Company shall mean an event of a nature that: (i) would be
required to be reported in response to Item 1(a) of the Current Report on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”); or (ii) results in a Change
in Control of the Bank or the Holding Company within the meaning of the Home Owners’ Loan Act of 1933, as amended, the Federal Deposit Insurance Act, or the Rules and Regulations promulgated by the Office of Thrift Supervision (“OTS”)
(or its predecessor agency), as in effect on the date hereof (provided, that in applying the definition of change in control as set forth under 

  

 
the rules and regulations of the OTS, the Board shall substitute its judgment for that of the OTS); or (iii) without limitation such a Change in Control
shall be deemed to have occurred at such time as (A) any “person” (as the term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act),
directly or indirectly, of voting securities of the Bank or the Holding Company representing 20% or more of the Bank’s or the Holding Company’s outstanding voting securities except for any voting securities of the Bank purchased by the
Holding Company in connection with the conversion of the Bank to the stock form and any voting securities purchased by any employee benefit plan of the Bank, or (B) individuals who constitute the Board on the date hereof (the “Incumbent
Board”) cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the date hereof whose election was approved by a vote of at least three-quarters of the directors comprising the
Incumbent Board, or whose nomination for election by the Holding Company’s stockholders was approved by the same Nominating Committee serving under an Incumbent Board, shall be, for purposes of this clause (B), considered as though he were a
member of the Incumbent Board, or (C) a plan of reorganization, merger, consolidation, sale of all or substantially all the assets of the Bank or the Holding Company or similar transaction occurs in which the Bank or Holding Company is not the
resulting entity; provided, however, that such an event listed above will be deemed to have occurred or to have been effectuated upon the receipt of all required federal regulatory approvals not including the lapse of any statutory waiting periods,
or (D) a proxy statement is distributed soliciting proxies from stockholders of the Holding Company, by someone other than the current management of the Holding Company, seeking stockholder approval of a plan of reorganization, merger or
consolidation of the Holding Company or Bank with one or more corporations as a result of which the outstanding shares of the class of securities then subject to such plan or transaction are exchanged for or converted into cash or property or
securities not issued by the Bank or the Holding Company shall be distributed, or (E) a tender offer is made for 20% or more of the voting securities of the Bank or Holding Company then outstanding. 
  
 (c) Executive shall not have the right to receive termination benefits
pursuant to Section 3 hereof upon Termination for Cause. The term “Termination for Cause” shall mean termination because of a material loss to the Holding Company or one of its Subsidiaries caused by Executive’s intentional failure to
perform stated duties, personal dishonesty, willful violation of any law, rule, regulation (other than traffic violations or similar offenses), final cease and desist order, or any material breach of this Agreement. Notwithstanding the foregoing,
Executive shall not be deemed to have been Terminated for Cause unless and until there shall have been delivered to him a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a
meeting of the Board called and held for that purpose (after reasonable notice to Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, Executive was guilty
of conduct justifying Termination for Cause and specifying the particulars thereof in detail. Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause. During the period beginning on the
date of the Notice of Termination for Cause pursuant to Section 8 hereof through the Date of Termination, stock options and related limited rights granted to Executive under any stock option plan shall not be exercisable nor shall any unvested
awards granted to Executive under any stock benefit plan of the Bank, the Holding Company or any subsidiary or affiliate thereof, vest. At the Date of Termination, such stock options and related limited rights and any such unvested awards, shall
become null and void and shall not be exercisable by or delivered to Executive at any time subsequent to such Termination For Cause. 
  

	3.	TERMINATION BENEFITS. 

  
 (a) Upon the occurrence of a Change in Control, followed at any time during the term of this Agreement by the voluntary or involuntary termination of
Executive’s employment, other than for Termination for Cause, the Holding Company shall be obligated to pay Executive, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, a sum equal to
two (2) times Executive’s average annual compensation for the five most recent taxable years that Executive has been employed by the Bank or such lesser number of years in the event that Executive shall have been employed by the Bank for less
than five years. Such annual compensation shall include Base Salary, commissions, bonuses, contributions on behalf of Executive to any pension and profit sharing plan, severance payments, director or committee fees and fringe benefits paid or to be
paid to the Executive during such years. At the election of Executive which election is to be made prior to a Change in Control, such payment shall be made in a lump sum. In the event that no election is made, payment to Executive will be made on a
monthly basis in approximately equal installments during the remaining term of this Agreement. Such payments shall not be reduced in the event Executive obtains other employment following termination of employment. 
  
 (b) Upon the occurrence of a Change in Control of the Bank or the Holding
Company followed at any time during the term of this Agreement by Executive’s termination of employment, other than for Termination for Cause, the Holding Company shall cause to be continued life, medical and disability coverage substantially
identical to the coverage maintained by the Bank for Executive prior to his severance, except to the extent such coverage may be changed in its application to all Bank employees. Such coverage and payments shall cease upon expiration of thirty-six
(36 ) full calendar months following the Date of Termination. 
  
 (c) Notwithstanding the preceding paragraphs of this Section 3, in the event that: 
  

	 	(i)	the aggregate payments or benefits to be made or afforded to Executive, which are deemed to be parachute payments as defined in Section 280G of the Internal Revenue Code of 1986, as
amended (the “Code”) or any successor thereof, (the “Termination Benefits”) would be deemed to include an “excess parachute payment” under Section 280G of the Code; and 

  

	 	(ii)	if such Termination Benefits were reduced to an amount (the “Non-Triggering Amount”), the value of which is one dollar ($1.00) less than an amount equal to three (3) times
Executive’s “base amount,” as determined in accordance with said Section 280G and the Non-Triggering Amount less the product of the marginal rate of any applicable state and federal income tax and the Non Triggering Amount would be
greater than the aggregate value of the Termination Benefits (without such reduction) minus (i) the amount of tax required to be paid by the Executive thereon by Section 4999 of the Code and further minus (ii) the product of the Termination Benefits
and the marginal rate of any applicable state and federal income tax, then the Termination Benefits shall be reduced to the Non-Triggering Amount. The allocation of the reduction required hereby among the Termination Benefits shall be determined by
the Executive. 

  

	4.	NOTICE OF TERMINATION. 

  
 (a) Any purported termination by the Holding Company, or by Executive shall be communicated by Notice of Termination to the other party hereto. For
purposes of this Agreement, a “Notice of Termination” shall mean a written notice which shall indicate the specific 

  

 
termination provision in this Agreement relied upon and shall set forth in detail the facts and circumstances claimed to provide a basis for termination of
Executive’s employment under the provision so indicated. 
  
 (b) “Date of Termination” shall mean the date specified in the Notice of Termination (which, in the case of Termination for Cause, shall not be less than thirty (30) days from the date such Notice of Termination is given).

  
 (c) If, within thirty (30) days after any Notice of
Termination is given, the party receiving such Notice of Termination notifies the other party that a dispute exists concerning the termination, the Date of Termination shall be the date on which the dispute is finally determined, either by mutual
written agreement of the parties, by a binding arbitration award, or by a final judgment, order or decree of a court of competent jurisdiction (the time for appeal therefrom having expired and no appeal having been perfected) and provided further
that the Date of Termination shall be extended by a notice of dispute only if such notice is given in good faith and the party giving such notice pursues the resolution of such dispute with reasonable diligence. Notwithstanding the pendency of any
such dispute, the Holding Company will continue to pay Executive his full compensation in effect when the notice giving rise to the dispute was given (including, but not limited to his current annual salary) and continue him as a participant in all
compensation, benefit and insurance plans in which he was participating when the notice of dispute was given, until the dispute is finally resolved in accordance with this Agreement. Amounts paid under this Section 4(c) are in addition to all other
amounts due under this Agreement and shall not be offset against or reduce any other amounts due under this Agreement. 
  

	5.	SOURCE OF PAYMENTS. 

  
 It is intended by the parties hereto that all payments provided in this Agreement shall be paid in cash or check from the general funds of the Holding
Company. Further, the Holding Company guarantees such payment and provision of all amounts and benefits due hereunder to Executive and, if such amount and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and
benefits shall be paid and provided by the Holding Company. 
  

	6.	EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFIT PLANS. 

  
 This Agreement contains the entire understanding between the parties hereto and supersedes any prior agreement between the Holding Company and Executive,
except that this Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind elsewhere provided. No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer
benefits than those available to him without reference to this Agreement. 
  
 Nothing in this Agreement shall confer upon Executive the right to continue in the employ of the Holding Company or shall impose on the Holding Company any obligation to employ or retain Executive in its employ for
any period. 
  

	7.	NO ATTACHMENT. 

  
 (a) Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale,
assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to affect any such action shall be null, void, and of no
effect. 
  

 (b) This Agreement shall be binding upon, and inure to the benefit of, Executive, the Holding Company and
their respective successors and assigns. 
  

	8.	MODIFICATION AND WAIVER. 

  
 (a) This Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto. 
  
 (b) No term or condition of this Agreement shall be deemed to have been
waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless
specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that specifically waived.

  

	9.	REINSTATEMENT OF BENEFITS UNDER BANK AGREEMENT. 

  
 In the event Executive is suspended and/or temporarily prohibited from participating in the conduct of the Bank’s affairs by a notice described in
Section 9(b) of the Change-in-Control Agreement between Executive and the Bank dated February 18, 2004 (the “Bank Agreement”) during the term of this Agreement and a Change in Control, as defined herein, occurs the Holding Company will
assume its obligation to pay and Executive will be entitled to receive all of the termination benefits provided for under Section 3 of the Bank Agreement upon the notification of the Holding Company of the Bank’s receipt of a dismissal of
charges in the Notice. 
  

	10.	EFFECT OF ACTION UNDER BANK AGREEMENT. 

  
 Notwithstanding any provision herein to the contrary, to the extent that payments and benefits are paid to or received by Executive under the Bank
Agreement between Executive and Bank, the amount of such payments and benefits paid by the Bank will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. 
  

	11.	SEVERABILITY. 

  
 If, for any reason, any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision
of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the full extent consistent with law continue in full force and effect. 
  

	12.	HEADINGS FOR REFERENCE ONLY. 

  
 The headings of sections and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any
of the provisions of this Agreement. In addition, references herein to the masculine shall apply to both the masculine and the feminine. 
  

	13.	GOVERNING LAW. 

  
 The validity, interpretation, performance, and enforcement of this Agreement shall be governed by the laws of the State of New Jersey. 
  

	14.	ARBITRATION. 

  
 Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration, conducted before a panel of
three arbitrators sitting in a location selected by Executive within fifty (50) miles from the location of the Holding Company, in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the
arbitrator’s award in any court having jurisdiction; provided, however, that Executive shall be entitled to seek specific performance of his right to be paid until the Date of Termination during the pendency of any dispute or controversy
arising under or in connection with this Agreement. 
  

	15.	PAYMENT OF LEGAL FEES. 

  
 All reasonable legal fees paid or incurred by Executive pursuant to any dispute or question of interpretation relating to this Agreement shall be paid or
reimbursed by the Holding Company if Executive is successful pursuant to a legal judgment, arbitration or settlement. 
  

	16.	INDEMNIFICATION. 

  
 The Holding Company shall provide Executive (including his heirs, executors and administrators) with coverage under a standard directors’ and
officers’ liability insurance policy at its expense, and shall indemnify Executive (and his heirs, executors and administrators) to the fullest extent permitted under Delaware law and as provided in the Holding Company’s certificate of
incorporation against all expenses and liabilities reasonably incurred by him in connection with or arising out of any action, suit or proceeding in which he may be involved by reason of his having been a director or officer of the Holding Company
(whether or not he continues to be a director or officer at the time of incurring such expenses or liabilities), such expenses and liabilities to include, but not be limited to, judgments, court costs and attorneys’ fees and the cost of
reasonable settlements. 
  

	17.	SUCCESSOR TO THE HOLDING COMPANY. 

  
 The Holding Company shall require any successor or assignee, whether direct or indirect, by purchase, merger, consolidation or otherwise, to all or
substantially all the business or assets of the Bank or the Holding Company, expressly and unconditionally to assume and agree to perform the Holding Company’s obligations under this Agreement, in the same manner and to the same extent that the
Holding Company would be required to perform if no such succession or assignment had taken place. 
  

 SIGNATURES 
  
 IN WITNESS WHEREOF, OceanFirst Financial Corp. has caused this Agreement to be executed by its duly authorized officer, and Executive has signed this
Agreement, on the 18th day of February, 2004. 
  

									
	 ATTEST:
	 	 	 	 OCEANFIRST FINANCIAL CORP.

				
	 	 	 	 	By:	 	 
	
	 	 	 	 	 	

	 Secretary
	 	 	 	 	 	 Officer

  

									
	 WITNESS:
	 	 	 	 
				
	 	 	 	 	 	 	 
	
	 	 	 	

	 	 	 	 	 Executive

  
 SealEmployment Agreement between Aelita Software Corporation and Ratmir Timashev

 Exhibit 10.1 
  
 EMPLOYMENT AGREEMENT 
  
 EMPLOYMENT AGREEMENT, dated as of this 4th day of October, 2002, between Aelita Software Corporation, a Delaware corporation with its principle place of
business at 6500 Emerald Parkway, Suite 400, Dublin, Ohio 43016 (the “Company”), and Ratmir Timashev (the “Executive”). 
  
 R E C I T A L S: 
  
 WHEREAS, the Company recognizes that the future growth, profitability and success of the Company’s business will be
substantially and materially enhanced by the employment of the Executive by the Company; 
  
 WHEREAS, the Company desires to employ the Executive and the Executive has indicated his willingness to provide his services, on the terms and conditions set forth herein; 
  
 NOW, THEREFORE, on the basis of the foregoing premises and in consideration
of the mutual covenants and agreements contained herein, the parties hereto agree as follows: 
  
 Section 1.  Employment. The Company hereby agrees to employ the Executive and the Executive hereby accepts employment with the Company, on the terms and subject to the conditions hereinafter set
forth. Subject to the terms and conditions contained herein, the Executive shall serve as President and Chief Executive Officer of the Company and, in such capacity, shall report directly to the Board of Directors and shall have such duties as are
typically performed by a President and Chief Executive Officer of a corporation, together with such additional duties, commensurate with the Executive’s position as President and Chief Executive Officer of the Company, as may be assigned to the
Executive from time to time by the Board of Directors of the Company. The principal location of the Executive’s employment shall be at the Company’s principal executive office located in Dublin, Ohio, although the Executive understands and
agrees that he may be required to travel from time to time for business reasons. 
  
 Section 2.  Term. Unless terminated pursuant to Section 6 hereof, the Executive’s employment hereunder shall be for a two year period and commence on the date hereof and shall continue during the period ending on the
second anniversary of the date hereof (the “Initial Term”). Thereafter, the Employment Term shall renew automatically for consecutive periods of one year unless either party shall provide notice of nonrenewal not less than 
  

 1 

 ninety (90) days prior to an anniversary date of this Agreement. The Initial Term, together with any renewal pursuant to
this Section 2, is referred to herein as the “Employment Term.” The Employment Term shall terminate upon expiration of the Employment Term, or earlier upon any termination of the Executive’s employment pursuant to Section 6.

  
 Section 3.   Compensation. During the Employment Term, the
Executive shall be entitled to the following compensation and benefits: 
  
 (a)  Salary. As compensation for the performance of the Executive’s services hereunder, the Company shall pay to the Executive a salary (the “Salary”) of $180,000 per annum with increases, if any, as may be
approved in writing by the Board of Directors. The Salary shall be payable in accordance with the payroll practices of the Company as the same shall exist from time to time. In no event shall the Salary be decreased more than fifteen percent during
the Employment Term. 
  
 (b)  Bonus Plan. The Executive shall be
eligible to receive an annual cash bonus (“Bonus”) which shall be in an amount and subject to the achievement of certain targets as determined by the Board of Directors. For the calendar year 2002 the Executive will be eligible to receive
a Bonus of $150,000 based upon achievement of the targets set forth in Exhibit A attached hereto. For subsequent years the Board of Directors will establish the Bonus amount and related targets. Any Bonus amounts due the Executive under this Section
3(b) will be paid on or promptly after January 31 of the year subsequent to the year to which the targets relate. 
  
 (c)  Benefits. In addition to the Salary and Bonus the Executive shall be entitled to participate in health, insurance, profit sharing and other benefits
provided to other senior executives of the Company on terms no less favorable than those available to such senior executives of the Company. The Executive shall also be entitled to the same number of vacation days, holidays, sick days and other
benefits as are generally allowed to other senior executives of the Company in accordance with the Company policy in effect from time to time. The Executive shall also be entitled to air travel at the Business Class level for all flights overseas.

  
 Section 4.  Exclusivity. During the Employment Term, the
Executive shall devote his full time to the business of the Company, shall faithfully serve the Company, shall in all respects conform to and comply with the lawful and reasonable directions and instructions given to him by the Board of Directors in
accordance with the terms of this Agreement, shall use his best efforts to promote and serve the interests of the Company and shall not engage in any other business activity, whether or not such activity shall be engaged in for pecuniary profit,
except that the Executive may (i) participate in the activities 
  

 2 

 of professional trade organizations related to the business of the Company, (ii) participate in activities as may be
approved in writing by the Board of Directors, and (iii) engage in personal investing activities, provided that activities set forth in these clauses (i), (ii) and (iii), either singly or in the aggregate, do not interfere in any material respect
with the services to be provided by the Executive hereunder. Other activities require written consent by the Board of Directors of the Company. 
  
 Section 5.  Reimbursement for Expenses. The Executive is authorized to incur reasonable expenses in the discharge of the services to be performed
hereunder, including expenses for travel, entertainment, lodging and similar items in accordance with the Company’s expense reimbursement policy, as the same may be modified by the Board of Directors from time to time. The Company shall
reimburse the Executive for all such proper expenses upon presentation by the Executive of itemized accounts of such expenditures in accordance with the financial policy of the Company, as in effect from time to time. 
  
 Section 6.  Termination and Default. 
  
 (a)  Death. The Executive’s employment shall automatically terminate
upon his death and upon such event, the Executive’s estate shall be entitled to receive the amounts specified in Section 6(f) below. 
  
 (b)  Disability. If the Executive is unable to perform the duties required of him under this Agreement because of illness, incapacity, or physical or
mental disability, the Employment Term shall continue and the Company shall pay all compensation required to be paid to the Executive hereunder, unless the Executive is unable to perform the duties required of him under this Agreement for an
aggregate of 120 days (whether or not consecutive) during any 12-month period during the term of this Agreement, in which event the Executive’s employment shall terminate. 
  
 (c)  Cause. The Company may terminate the Executive’s employment at any time, with or without Cause. In the event of
termination pursuant to this Section 6(c) for Cause, the Company shall deliver to the Executive written notice setting forth the basis for such termination, which notice shall specifically set forth the nature of the Cause which is the reason for
such termination. Termination of the Executive’s employment hereunder shall be effective upon delivery of such notice of termination. For purposes of this Agreement, “Cause” shall mean: (i) the Executive’s failure (except where
due to a disability contemplated by subsection (b) hereof), neglect or refusal to perform his duties hereunder which failure, neglect or refusal shall not have been corrected by the Executive within 30 days of receipt by the Executive of written
notice from the Company of such failure, 
  

 3 

 neglect or refusal, which notice shall specifically set forth the nature of said failure, neglect or refusal, (ii) any
willful or intentional act of the Executive that has the effect of injuring the reputation or business of the Company or its affiliates in any material respect; (iii) any continued or repeated absence from the Company, unless such absence is (A)
approved or excused by the Board of Directors or (B) is the result of the Executive’s illness, disability or incapacity (in which event the provisions of Section 6(b) hereof shall control); (iv) use of illegal drugs by the Executive or repeated
drunkenness; (v) conviction of the Executive for the commission of a felony; or (vi) the commission by the Executive of an act of fraud or embezzlement against the Company. 
  
 (d) Good Reason. The Executive may terminate his employment for “Good Reason” following a Substantial Breach (as
hereinafter defined), but only if such Substantial Breach shall not have been corrected by the Company within thirty (30) days of receipt by the Company of written notice from the Executive of the occurrence of such Substantial Breach, which notice
shall specifically set forth the nature of the Substantial Breach which is the reason for such resignation. The term “Substantial Breach” means (i) the failure by the Company to pay to the Executive the Salary and Bonus, if any, in
accordance with Sections 3(a) and 3(b) hereof; (ii) the failure by the Company to allow the Executive to participate in the Company’s employee benefit plans generally available from time to time to senior executives of the Company; (iii) the
failure of any successor to all or substantially all of the business and/or assets of the Company to assume this Agreement; provided, however, that the term “Substantial Breach” shall not include a termination of the
Executive’s employment hereunder pursuant to Sections 6(b) or (c) hereof; (iv) the substantial and material diminution in the Executive’s duties, responsibilities, reporting relationship or position; (v) a greater than fifteen percent
reduction of the Salary; or (vi) the Company’s requiring the Executive to relocate his principal location of employment to any place outside of a 50 mile driving distance of the Executive’s current work site, without the consent of the
Executive. The date of termination of the Executive’s employment under this Section 6(d) shall be the effective date of any resignation specified in writing by the Executive, which shall not be less than thirty (30) days after receipt by the
Company of written notice of such resignation, provided that such resignation shall not be effective pursuant to this Section 6(d) and the Substantial Breach shall be deemed to have been cured if such Substantial Breach is corrected by the Company
during such 30-day period. 
  
 (e) Resignation. The Executive shall have
the right to terminate his employment at any time by giving notice of his resignation other than for Good Reason upon 30 days’ written notice to the Company. 
  
 (f) Payments. In the event that the Executive’s employment terminates for any reason, including expiration of the Term by reason
of nonrenewal as provided in Section 2 hereof, the Company shall pay to the Executive all amounts accrued but unpaid hereunder through the date of termination in respect of Salary or unreimbursed expenses. In the event the Executive’s
employment is terminated by the Company without Cause (other 
  

 4 

 than an election not to renew the Employment Term pursuant to Section 2 hereof), or by the Executive with Good Reason, in
addition to the amounts specified in the foregoing sentence, (i) the Executive shall continue to receive the Salary (less any applicable withholding or similar taxes) at the rate in effect hereunder on the date of such termination periodically, in
accordance with the Company’s prevailing payroll practices, for a period of twelve months following the date of such termination (the “Severance Term”), (ii) to the extent permissible under the Company’s health plans, the
Executive shall continue to receive any health benefits on the same basis as such health benefits were provided to such Executive as of the date of such termination in accordance with Section 3(c) hereof during the Severance Term; and (iii) any
unexercised options which were fully vested as of the date of the Executive’s termination shall remain exercisable through the expiration of the Severance Term, notwithstanding any contrary provisions of the Aelita Software Corporation Omnibus
Stock Option Plan or any agreement under which options have been granted to the Executive. In the event the Executive accepts other employment, engages in his own business or performs consulting services for 20 or more hours per week prior to the
last date of the Severance Term, the Executive shall forthwith notify the Company and the Company shall be entitled to set off from amounts due the Executive under this Section 6(f) the amounts paid to the Executive in respect of such other
employment, business activity or consulting services. Amounts owed by the Company in respect of the Salary or reimbursement for expenses under the provisions of Section 5 hereof shall, except as otherwise set forth in this Section 6(f), be paid
promptly upon any termination. 
  
 (g) Survival of Operative Sections. Upon
any termination of the Executive’s employment, the provisions of Sections 6(f) and 7 through 18 of this Agreement shall survive to the extent necessary to give effect to the provisions thereof. 
  
 Section 7. Secrecy and Non-Competition. 
  
 (a) No Competing Employment. The Executive acknowledges that the agreements and
covenants contained in this Section 7 are essential to protect the value of the Company’s business and assets and by his current employment with the Company and its subsidiaries, the Executive has obtained and will obtain such knowledge,
contacts, know-how, training and experience and there is a substantial probability that such knowledge, know-how, contacts, training and experience could be used to the substantial advantage of a competitor of the Company and to the Company’s
substantial detriment. Therefore, the Executive agrees that for the period commencing on the date of this Agreement and ending on the first anniversary of the termination of the Executive’s employment hereunder (such period is hereinafter
referred to as the “Restricted Period”) with respect to any State in which the Company is engaged in business during the Employment Term, the Executive shall not participate or engage, directly or indirectly, for himself or on behalf of or
in conjunction with any person, partnership, corporation or other entity, whether as an employee, agent, officer, director, shareholder, partner, joint venturer, investor or otherwise, in any business activities if such activities consist of any
activities undertaken or expressly contemplated to be undertaken by the Company or any of its subsidiaries or by the Executive at any time during the Employment Term. 
  

 5 

 (b) Nondisclosure of Confidential Information. The Executive, except in connection with his employment hereunder,
shall not disclose to any person or entity or use, either during the Employment Term or at any time thereafter, any information not in the public domain or generally known in the industry, in any form, acquired by the Executive while employed by the
Company or any predecessor to the Company’s business or, if acquired following the Employment Term, such information which, to the Executive’s knowledge, has been acquired, directly or indirectly, from any person or entity owing a duty of
confidentiality to the Company or any of its subsidiaries or affiliates, relating to the Company, its subsidiaries or affiliates, including but not limited to information regarding customers, vendors, suppliers, trade secrets, training programs,
manuals or materials, technical information, contracts, systems, procedures, mailing lists, know-how, trade names, improvements, price lists, financial or other data (including the revenues, costs or profits associated with any of the Company’s
products or services), business plans, code books, invoices and other financial statements, computer programs, software systems, databases, discs and printouts, plans (business, technical or otherwise), customer and industry lists, correspondence,
internal reports, personnel files, sales and advertising material, telephone numbers, names, addresses or any other compilation of information, written or unwritten, which is or was used in the business of the Company or any subsidiaries or
affiliates thereof. The Executive agrees and acknowledges that all of such information, in any form, and copies and extracts thereof, are and shall remain the sole and exclusive property of the Company, and upon termination of his employment with
the Company, the Executive shall return to the Company the originals and all copies of any such information provided to or acquired by the Executive in connection with the performance of his duties for the Company, and shall return to the Company
all files, correspondence and/or other communications received, maintained and/or originated by the Executive during the course of his employment. 
  
 (c) No Interference. During the Restricted Period, the Executive shall not, whether for his own account or for the account of any other individual, partnership,
firm, corporation or other business organization (other than the Company), directly or indirectly solicit, endeavor to entice away from the Company or its subsidiaries, or otherwise directly interfere with the relationship of the Company or its
subsidiaries with any person who, to the knowledge of the Executive, is employed by or otherwise engaged to perform services for the Company or its subsidiaries (including, but not limited to, any independent sales representatives or organizations)
or who is, or was within the then most recent twelve-month period, a customer or client, of the Company, its predecessors or any of its subsidiaries. The placement of any general classified or “help wanted” advertisements and/or general
solicitations to the public at large shall not constitute a violation of this Section 7(c) unless the Executive’s name is contained in such advertisements or solicitations. 
  

 6 

 (d) Inventions, etc. The Executive hereby sells, transfers and assigns to the Company or to any person or entity
designated by the Company all of the entire right, title and interest of the Executive in and to all inventions, ideas, disclosures and improvements, whether patented or unpatented, and copyrightable material, made or conceived by the Executive,
solely or jointly, during his employment by the Company which relate to methods, apparatus, designs, products, processes or devices, sold, leased, used or under consideration or development by the Company, or which otherwise relate to or pertain to
the business, functions or operations of the Company or which arise from the efforts of the Executive during the course of his employment for the Company. The Executive shall communicate promptly and disclose to the Company, in such form as the
Company requests, all information, details and data pertaining to the aforementioned inventions, ideas, disclosures and improvements; and the Executive shall execute and deliver to the Company such formal transfers and assignments and such other
papers and documents as may be necessary or required of the Executive to permit the Company or any person or entity designated by the Company to file and prosecute the patent applications and, as to copyrightable material, to obtain copyright
thereof. Any invention relating to the business of the Company and disclosed by the Executive within one year following the termination of his employment with the Company shall be deemed to fall within the provisions of this paragraph unless proved
to have been first conceived and made following such termination. 
  
 Section 8.
Injunctive Relief. Without intending to limit the remedies available to the Company, the Executive acknowledges that a breach of any of the covenants contained in Section 7 hereof may result in material irreparable injury to the Company or
its subsidiaries or affiliates for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of such a breach or threat thereof, the Company shall be entitled to
obtain a temporary restraining order and/or a preliminary or permanent injunction, without the necessity of proving irreparable harm or injury as a result of such breach or threatened breach of Section 7 hereof, restraining the Executive from
engaging in activities prohibited by Section 7 hereof or such other relief as may be required specifically to enforce any of the covenants in Section 7 hereof. 
  

Section 9. Extension of Restricted Period. In addition to the remedies the Company may seek and obtain pursuant to Section 8 of this Agreement, the Restricted
Period shall be extended by any and all periods during which the Executive shall be found by a court to have been in violation of the covenants contained in Section 7 hereof. 
  

 7 

 Section 10. Representations and Warranties of the Executive. The Executive represents and warrants to the Company
as follows: 
  
 (a) This Agreement, upon execution and delivery by the Executive,
will be duly executed and delivered by the Executive and (assuming due execution and delivery hereof by the Company) will be the valid and binding obligation of the Executive enforceable against the Executive in accordance with its terms.

  
 (b) Neither the execution and delivery of this Agreement, the consummation of
the transactions contemplated hereby nor the performance of this Agreement in accordance with its terms and conditions by the Executive (i) requires the approval or consent of any governmental body or of any other person or (ii) conflicts with or
results in any breach or violation of, or constitutes (or with notice or lapse of time or both would constitute) a default under, any agreement, instrument, judgment, decree, order, statute, rule, permit or governmental regulation applicable to the
Executive. Without limiting the generality of the foregoing, the Executive is not a party to any non-competition, non-solicitation, no hire or similar agreement that restricts in any way the Executive’s ability to engage in any business or to
solicit or hire the employees of any person. 
  
 The representations and
warranties of the Executive contained in this Section 10 shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby. 
  
 Section 11. Successors and Assigns; No Third-Party Beneficiaries. 
  
 (a) This Agreement shall inure to the benefit of, and be binding upon, the successors and assigns of each of the parties, including, but not
limited to, the Executive’s heirs and the personal representatives of the Executive’s estate; provided, however, that neither party shall assign or delegate any of the obligations created under this Agreement without the
prior written consent of the other party. Notwithstanding the foregoing, the Company shall have the unrestricted right to assign this Agreement and to delegate all or any part of its obligations hereunder to (i) any of its subsidiaries or
affiliates, or (ii) any purchaser of all or substantially all of the Company’s business or assets or any successor to the Company or any assignee thereof (whether direct or indirect, by purchase, merger, consolidation or otherwise), without
obtaining the written consent of the Executive, but in the event of an assignment as set forth in subsections (i) or (ii) herein, such assignee shall expressly assume all obligations of the Company hereunder and the Company shall remain fully liable
for the performance of all of such obligations in the manner prescribed in this Agreement. The Company shall provide prompt written notice to the Executive upon such assignment. 
  
 (b) Nothing in this Agreement shall confer upon any person or entity not a party to this Agreement, or the legal representatives of such
person or entity, any rights or remedies of any nature or kind whatsoever under or by reason of this Agreement. 
  
 Section 12. Waiver and Amendments. Any waiver, alteration, amendment or 
  

 8 

 modification of any of the terms of this Agreement shall be valid only if made in writing and signed by the parties
hereto; provided, however, that any such waiver, alteration, amendment or modification is consented to on the Company’s behalf by the Board of Directors. No waiver by either of the parties hereto of their rights hereunder shall be
deemed to constitute a waiver with respect to any subsequent occurrences or transactions hereunder unless such waiver specifically states that it is to be construed as a continuing waiver. 
  
 Section 13. Severability and Governing Law. The Executive acknowledges and agrees that
the covenants set forth in Section 7 hereof are reasonable and valid in geographical and temporal scope and in all other respects. If any of such covenants or such other provisions of this Agreement are found to be invalid or unenforceable by a
final determination of a court of competent jurisdiction (a) the remaining terms and provisions hereof shall be unimpaired and (b) the invalid or unenforceable term or provision shall be deemed replaced by a term or provision that is valid and
enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF OHIO APPLICABLE TO CONTRACTS MADE AND TO
BE PERFORMED ENTIRELY WITHIN SUCH STATE. 
  
 Section 14. Notices.

  
 (a) All communications under this Agreement shall be in writing and shall be
delivered by hand or mailed by overnight courier or by registered or certified mail, postage prepaid: 
  
 (1) if to the Executive, at 2482 Stoneleigh Court, Dublin, Ohio 43016 or at such other address as the Executive may have furnished the Company in writing,

  
 (2) if to the Company, at Aelita Software Corporation, 6500
Emerald Parkway, Suite 400, Dublin, Ohio, 43016, marked for the attention of the Board of Directors, or at such other address as it may have furnished in writing to the Executive, or 
  
 (b) Any notice so addressed shall be deemed to be given: if delivered by hand, on the date of such delivery; if mailed by courier, on the
first business day following the date of such mailing; and if mailed by registered or certified mail, on the third business day after the date of such mailing. 
  

Section 15. Section Headings. The headings of the sections and subsections of this Agreement are inserted for convenience only and shall not be deemed to
constitute a part thereof, affect the meaning or interpretation of this 
  

 9 

 Agreement or of any term or provision hereof. 
  
 Section 16. Entire Agreement. This Agreement constitutes the entire understanding and agreement of the parties hereto regarding the
employment of the Executive. This Agreement supersedes all prior negotiations, discussions, correspondence, communications, understandings and agreements between the parties relating to the subject matter of this Agreement. 
  
 Section 17. Severability. In the event that any part or parts of this Agreement shall
be held illegal or unenforceable by any court or administrative body of competent jurisdiction, such determination shall not effect the remaining provisions of this Agreement which shall remain in full force and effect. 
  
 Section 18. Counterparts. This Agreement may be executed in one or more counterparts,
each of which shall be deemed an original and all of which together shall be considered one and the same agreement. 
  

 10 

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

  

			
	 AELITA SOFTWARE CORPORATION

		
	 By:
	 	 /S/ WILLIAM H. LARGENT

	 	 	 Name: William H. Largent

	 	 	 Title: Chief Operating Officer

	
	 Ratmir Timashev

	
	 /S/ RATMIR TIMASHEV

  

 11 

 AGREEMENT AND AMENDMENT TO 

EMPLOYMENT AGREEMENT 
  
 This AGREEMENT AND AMENDMENT TO EMPLOYMENT AGREEMENT
(“Amendment”) is made as of March 17, 2004, by and between QUEST SOFTWARE, INC., a California corporation (“Quest”) and AELITA SOFTWARE
CORPORATION, a Delaware corporation (the “Company”) on one side (together, the “Employer”), and RATMIR TIMASHEV (“Executive”) on the other side.
Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Employment Agreement and the Merger Agreement (each as defined below). 
  
 RECITALS 
  
 WHEREAS, pursuant to an Agreement and Plan of Merger dated January 28, 2004, among Quest, Answer Acquisition Corp., a
Delaware corporation and wholly-owned subsidiary of Quest (“Merger Sub”), certain of the Company’s stockholders and Insight Venture Partners, LLC (as the Stockholders’ Representative) (the “Merger Agreement”), Quest
will acquire the Company by means of a merger of Merger Sub (the “Merger”), with and into the Company, with the Company as the surviving corporation in the Merger (the “Surviving Corporation”); and 
  
 WHEREAS, Quest and the Executive desire to enter into
an employment relationship pursuant to which the Executive will be employed by Quest effective as of the Effective Time (as defined in the Merger Agreement) ; and 
  
 WHEREAS, concurrently with execution and delivery of this Agreement, (a) the Executive and Quest are
entering into a Proprietary Information and Inventions Agreement, and (b) the Executive is entering into (i) a Noncompetition and Nonsolicitation Agreement for the benefit of Quest, the Surviving Corporation and their respective affiliates; and

  
 WHEREAS, the Company and Executive have
entered into that certain Employment Agreement, dated as of October 3, 2002 (the “Employment Agreement”); and 
  
 WHEREAS, the Company and Executive wish to amend the Employment Agreement in the manner provided herein in order to induce Quest and
Merger Sub to consummate the Merger and the Contemplated Transactions. 
  
 AGREEMENT 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, Employer and Executive hereby agree as follows:

  
 1. The introductory paragraph of the Employment Agreement is hereby
amended and restated to read as follows: 
  
 Following “(the “Company”)” insert “a wholly owned subsidiary of Quest Software, Inc., a California corporation (“Quest”)”. 
  
 2. Section 1 of the Employment Agreement is hereby amended and restated to read as follows: 
  
 In the first sentence, substitute “Quest” for
“the Company”. 
  

 12 

 3. Section 2 of the Employment Agreement is hereby amended and restated to read in its entirety as follows:

  
 “Section 2. Term. Unless terminated
pursuant to Section 6 hereof, the Executive’s employment hereunder shall continue until December 31, 2005 (“Employment Term”).” 
  
 4. Sections 3 through 18 of the Employment Agreement are hereby amended and restated to read as follows: 
  
 Substitute “Quest” for “the Company”.

  
 5. Section 4 of the Employment Agreement is hereby amended and restated
to read in its entirety as follows: 
  
 Section 4.
Exclusivity. During the Employment Term, the Executive shall devote his full time to the business of the Company, shall faithfully serve the Company, shall in all respects conform to and comply with the lawful and reasonable directions and
instructions given to him by the Board of Directors in accordance with the terms of this Agreement, shall use his best efforts to promote and serve the interests of the Company and shall not engage in any other business activity, whether or not such
activity shall be engaged in for pecuniary profit, except that the Executive may (i) participate in the activities of professional trade organizations related to the business of the Company, (ii) participate in activities as may be approved in
writing by the Board of Directors, (iii) engage in personal investing activities, provided that Executive shall not become financially interested in any entity known by him to compete with the Company in any line of business engaged in (or
planned to be engaged in) by the Company; and (iv) serve as a member of the board of directors or advisory boards (or their equivalents in the case of a non-corporate entity) of non-competing businesses and charitable organizations, provided that
activities set forth in these clauses (i), (ii), (iii) and (iv), either singly or in the aggregate, do not interfere in any material respect with the services to be provided by the Executive hereunder. 
  
 6. Section 6(f) of the Employment Agreement is hereby amended and restated to read in
its entirety as follows: 
  
 “(f)
Termination Payments and Severance. In the event that the Executive’s employment terminates for any reason, the Company shall promptly pay to the Executive all amounts accrued but unpaid hereunder through the date of termination in
respect of Salary or unreimbursed expenses. In the event the Executive’s employment is terminated by the Company without Cause (other than the expiration of the Employment Term pursuant to Section 2 hereof), or by the Executive with Good
Reason, in addition to the amounts specified in the foregoing sentence, and provided that Executive has executed a binding general release of claims in the form attached hereto as Exhibit A, (i) any options that were not previously vested as
of the date of such termination shall immediately vest in full, and (ii) all unexercised vested options shall remain exercisable, notwithstanding any contrary provisions of the Aelita Software Corporation Omnibus Stock Option Plan or any agreement
under which options have been granted to the Executive, for a period to be determined as follows: (A) if Executive’s employment termination occurs before the fifth anniversary of the Effective Time, then vested options shall remain exercisable
for five (5) years following termination of employment; or (B) if Executive’s employment termination occurs after the fifth anniversary of the Effective Time, then vested options shall remain exercisable for thirty (30) days following
termination of employment.” 
  

 13 

 7. Section 7(a) of the Employment Agreement is hereby amended and restated as follows: 
  
 By deleting the last sentence and replacing it with the
following: 
  
 “Therefore, the Executive
agrees that for the period commencing on the date of this Agreement and ending on the first anniversary of the termination of the Executive’s employment hereunder (such period is hereinafter referred to as the “Restricted Period”)
with respect to any State in which the Company is engaged in business during the Employment Term, the Executive shall not participate or engage, directly or indirectly, for himself or on behalf of or in conjunction with any person, partnership,
corporation or other entity, whether as an employee, agent, officer, director, shareholder, partner, joint venturer, investor or otherwise, in any business activities which involve Microsoft systems management or Oracle database management.

  
 8. Section 7(c) of the Employment Agreement is hereby amended and
restated to read as follows: 
  
 In the first
sentence, insert “hire, engage” between “indirectly” and “solicit”. 
  
 9. Section 16 of the Employment Agreement is hereby amended and restated to read as follows: 
  
 In the first sentence, substitute “, the Proprietary Information and Inventions Agreement, and the Noncompetition and Nonsolicitation
Agreement altogether constitute” for “constitutes”. 
  
 10. The Employment Agreement is hereby amended and restated as follows: 
  
 Insert Exhibit A, as set forth in its entirety in Exhibit A to this Amendment. 
  
 11. All other terms of the Employment Agreement shall remain in full force and
effect. 
  
 12. The parties agree that the adjustments in
Executive’s duties, responsibilities, reporting relationship and position resulting from the Merger and the Company’s becoming a subsidiary corporation of Quest do not constitute a Substantial Breach or otherwise trigger Good Reason for
termination as defined in Section 6(d) of the Employment Agreement, provided, that following any such adjustment, Executive’s duties, responsibilities, reporting relationship and position are consistent with those typically assigned to an
executive officer of a subsidiary corporation.  
  
 13. This
Amendment shall take effect as of the Effective Time, and is conditioned on the successful closing of the Merger. If the Merger does not close, this Amendment shall be null and void, and even if executed by the parties, shall not be binding. 

  
 14. This Amendment shall be governed by and construed under the laws of
the State of Ohio, without regard to conflict of laws principles. 
  
 15. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
  
 [SIGNATURE PAGE FOLLOWS] 
  

 14 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.

  

			
	QUEST SOFTWARE, INC.
		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

	
	EXECUTIVE:
	
	

	Ratmir Timashev
	
	 2482 Stoneleigh Court,

	 Dublin, Ohio 43016

	 Telephone:

	 Facsimile:

	
	AELITA SOFTWARE CORPORATION
		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

  

 15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}]]