Document:

Exhibit
10.19

 

STOCK
OPTION AGREEMENT

 

LAWSON
SOFTWARE, INC.

2001 STOCK
INCENTIVE PLAN

(Includes
Change of Control Trigger)

 

1.             Option Grant and
Option Exercise Price.  Pursuant to
the Lawson Software, Inc. 2001 Stock Incentive Plan (the “Plan”), Lawson Software,
Inc., a Delaware corporation (the “Company”) grants to the participant (“Participant”)
whose name is specified on the Certificate of Stock Option Grant on the Salomon
Smith Barney website at www.benefitaccess.com (the “Certificate”), an option to
purchase shares of common stock (“Common Stock”) of the Company as follows:

 

The Company grants to Participant an option
(the “Option” or “Stock Option”) to purchase the number of full shares of
Common Stock shown on the Certificate (the “Shares”) at an exercise and
purchase price in United States dollars (the “Grant Price”) per Option Share
equal to the Grant Price listed on the Certificate (which is the closing price
for the Common Stock on Nasdaq (symbol: 
LWSN) on the Grant Date), subject to the terms and conditions set forth
in the Plan, this Stock Option Agreement (“Agreement”) and the
Certificate.  The Grant Date of this
Stock Option is stated on the Certificate. 
The Option will be in effect commencing on the Grant Date and
terminating on the Grant Expiration Date listed on the Certificate or such
earlier date and time described in this Agreement (the “Option Period”).  This Option is an “Incentive Stock Option
(ISO)” or a “Nonqualified Stock Option (NQ),” as identified on the Certificate
under “Type of Stock Option.”

 

2.             Option Subject to
Plan; Definitions.  This Stock Option
and its exercise are subject to the terms and conditions of the Plan, and the
terms of the Plan shall control to the extent not otherwise inconsistent with
the provisions of this Agreement.  This
Stock Option is subject to any rules promulgated pursuant to the Plan by the
Board of Directors of the Company or the Committee.  The capitalized terms not otherwise defined
in this Agreement have the same meanings assigned to them in the Plan.

 

2.1                                 The term “Cause”
means Termination of Participant’s Service initiated by the Company or its
Subsidiaries because of:  (1) if
Participant has entered into any written and executed contract(s) with the
Company or its Subsidiaries, any breach by 
Participant of such contract that has a material adverse effect on the
Company or any Subsidiary (as reasonably determined by the Company) and which
is not or cannot reasonably be cured within 10 days after written notice from
the Company to Participant; (2) any violation by Participant of the Company’s
or a Subsidiary’s policies, rules or regulations that has a material adverse
effect on the Company or any Subsidiary (as reasonably determined by the
Company) and which is not or cannot be cured within 10 days after written
notice from the Company to Participant; (3) commission of any act of fraud,
embezzlement or dishonesty by Participant that is materially injurious to the
Company or any Subsidiary (as reasonably determined by the Company); or (4) any
other intentional misconduct by Participant adversely affecting the business or
affairs of the Company or any Subsidiary in any material manner (as reasonably
determined by the Company).

 

1

 

2.2                                 The term “Change of
Control Transaction” means (1) the closing of a tender offer or exchange offer
for the ownership of 50% or more of the outstanding voting securities of the
Company, (2) the Company shall have entered into a definitive agreement with
respect to a tender offer, exchange offer or 
merger,  consolidation or other
business combination with another corporation and as a result of such tender
offer, exchange offer, merger, consolidation or combination less than 50% of
the outstanding voting securities of the surviving or resulting corporation are
owned in the aggregate by the former stockholders of the Company, other than
affiliates (within the meaning of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”)) of any party to such merger or consolidation, as
the same shall have existed immediately prior to such merger or consolidation,
(3) the Company shall have entered into a definitive agreement to sell
substantially all of its assets to another corporation which is not a direct or
indirect wholly owned Subsidiary of the Company, (4) a person, within the
meaning of Section 3(a)(9) or of Section 13(d)(3) (as in effect on
the date of this Agreement) of the Exchange Act, shall acquire 50% or more of
the outstanding voting securities of the Company (whether directly, indirectly,
beneficially or of record) (for purposes hereof, ownership of voting securities
shall take into account and shall include ownership as determined by applying
the provisions of Rule 13d-3(d)(1)(i) as in effect on the date of this Agreement)
pursuant to the Exchange Act, (5) individuals who constitute the Company’s
Board of Directors on the date of this Agreement (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 of this Agreement whose
election, or nomination for election by the Company’s stockholders, was
approved by a vote of at least 50% of the directors comprising the Incumbent
Board shall be, for purposes of this clause (5), considered as though such
person were a member of the Incumbent Board, or (6) approval by the
stockholders of the Company of a complete liquidation or dissolution of the
Company.

 

2.3                                 The term “Disability”
means Termination of Participant’s Service because of a permanent disability as
defined under any retirement plan of the Company or its Subsidiaries.

 

2.4                                 The term “Fair Market
Value” has the meaning described in Section 6 of the Plan.

 

2.5                                 The term “Good Reason”
means:  (1) the assignment to the
Participant of any duties inconsistent in any respect with the Participant’s
position (including status, offices, titles and reporting requirements),
authority, duties or responsibilities in effect as of the date of this
Agreement, or any diminution in such position, authority, duties or
responsibilities (whether or not occurring solely as a result of the Company
ceasing to be a publicly traded entity or becoming a subsidiary), excluding for
this purpose an isolated, insubstantial and inadvertent action not taken in bad
faith and that is remedied by the Company promptly after receipt of notice
thereof given by the Participant; (2) any reduction in Participant’s annual
base salary or annual target incentive compensation compared with the annual
base salary and annual target incentive compensation in effect for Participant
for the Company’s most recent fiscal year ended before the date of termination,
other than an isolated, insubstantial and inadvertent failure not occurring in
bad faith and that is remedied by the Company promptly after receipt of notice
thereof given by the Participant; (3) the Company’s requiring the Participant
to be based at any

 

2

 

office or location other than in the
Minneapolis-St. Paul Metropolitan Area in Minnesota or the Company’s requiring
the Participant to travel on Company business to a substantially greater extent
than required immediately prior to the date of this Agreement; or (4) any
material reduction in Participant’s executive benefits compared with the
Participant’s benefits provided by the Company to Executive during the Company’s
most recent fiscal year ended before the date of termination.  The Participant’s mental or physical
incapacity following the occurrence of an event described above in clauses (1)
through (4) above shall not affect the Participant’s ability to terminate
employment for Good Reason.  Any
determination of “Good Reason” made by the Participant under this Agreement
shall be in good faith.

 

2.6                                 The term “Retirement” means
Termination of Participant’s Service (1) at or after age 55 provided
Participant has been employed by the Company or its Subsidiaries for at least
ten years or (2) at or after age 62.

 

2.7                                 The term “Subsidiary”
or “Subsidiaries” means a subsidiary corporation of the Company as defined in
the Plan.

 

2.8                                 The term “Termination
of Participant’s Service” means the last day of Participant’s regular full time
or part time employment with the Company and its Subsidiaries.

 

3.                                       Vesting
and Acceleration of Vesting.  Except as
specifically provided in this Agreement and the Plan, this Stock Option will
vest and first become exercisable on the respective vesting dates specified in
the Certificate, but only if Participant has at all times been a regular full
time or part time employee of the Company or any Subsidiary from the Grant Date
to the applicable vesting date.  Vested
Option Shares may be exercised and purchased during the Option Period, until
termination under Section 4 below. 
No vesting of the Option shall occur after Termination of Participant’s
Service, except only to the extent described in Sections 3.1, 3.2 or 3.3 below.

 

3.1                                 Automatic 100%
Acceleration of Vesting Upon Death, Disability or Retirement.  If there is a Termination of Participant’s
Service because of Participant’s death, Disability or Retirement, all
conditions of vesting will be assumed to have been met immediately before such
death, Disability or Retirement, and Participant or Participant’s estate will
have the right to exercise one hundred percent (100%) of the number of Shares
remaining under the Option, whether or not vested, during the applicable time
period in Section 4 below.  If
Termination of Participant’s Service is due to death, Disability or Retirement,
the acceleration of vesting under this Section 3.1 will be deemed to have
occurred prior to such Termination of Participant’s Service.

 

3.2                                 Automatic 50%
Acceleration of Vesting Upon Completion of a Change of Control Transaction.  Automatically and immediately upon completion
of a Change of Control Transaction:  (i)
all conditions of vesting will be assumed to have been met for the last fifty
percent (50%) of the then current total unvested Option Shares that were
otherwise scheduled to vest last under the vesting schedule dates specified
in the Certificate, (ii) Participant will have the right to exercise all vested
Option Shares during the applicable time period in Section 4 below and
(iii) so long as the Stock Option has not terminated, the remaining unvested
Option Shares will continue to vest pursuant to this Agreement.

 

3

 

For example, if immediately before the
completion of a Change of Control Transaction the Stock Option is 12/48ths
vested, then automatically upon completion of the Change of Control
Transaction, an additional 18/48ths (50% of 36/48ths) of
the Option Shares that were scheduled to vest in months 31 to 48 shall be
immediately vested, and the balance of the unvested Option Shares (18/48ths)
shall continue to vest monthly during months 13 through 30, unless such vesting
is accelerated or terminated as described in this Agreement.  If Termination of Participant’s Service
occurs upon or after completion of a Change of Control Transaction, the
acceleration of vesting under this Section 3.2 will be deemed to have
occurred prior to such Termination of Participant’s Service.

 

3.3                                 Automatic
Acceleration of Vesting of All Remaining Unvested Option Shares.  If within one year after the completion of a
Change of Control Transaction, there is a Termination of Participant’s Service
initiated by the Company or any Subsidiary (or successor) other than for Cause
or by the Participant for Good Reason, then (i) all conditions of vesting will
be assumed to have been met for one hundred (100%) of the then current total
unvested Option Shares and (ii) Participant will have the right to exercise all
vested Option Shares during the applicable time period in Section 4
below.  The acceleration of vesting under
this Section 3.3 will be deemed to have occurred immediately before
Termination of Participant’s Service. 
For purposes of this Section 3.3, any good faith determination of “Good
Reason” made by the Participant shall be conclusive.

 

3.4                                 Leave of Absence.  The Company’s leave of absence procedure
concerning stock options, that is in effect as of the date of this Agreement,
will also govern the vesting of the Option during a Company approved leave of
absence.

 

4.             Termination and
Forfeiture.  The Stock Option,
whether or not vested, automatically expires at 5:00 p.m. United States Central
Time on the Grant Expiration Date, unless terminated on an earlier date as
described in this Agreement or the Plan. 
No vesting of the Stock Option shall occur after the date of Termination
of Participant’s Service and all such unvested Option Shares will be forfeited
as of 5:01 p.m. United States Central on the date of Termination of Participant’s
Service.  The unexercised portion of the
Stock Option that is vested will automatically terminate and be forfeited at
the first of the following to occur:

 

(1)                                  5:00
p.m. United States Central Time on the date of Termination of Participant’s
Service initiated by the Company or any Subsidiary for Cause;

(2)                                  5:00
p.m. United States Central Time on the date that is 90 days after Termination
of Participant’s Service for any reason or no reason, other than for (a) Cause,
(b) death, (c) Disability or (d) Retirement;

(3)                                  5:00
p.m. United States Central Time on the date that is one year after the date of
Termination of Participant’s Service due to death, Disability or Retirement; or

(4)                                  5:00
p.m. United States Central Time on the Grant Expiration Date.

 

4

 

5.             No Fractional
Shares.  This Stock Option may be
exercised only in whole Shares and not fractional Shares.  Any fraction of a Share that would otherwise
vest on any vesting date will be rounded down to the nearest whole Share.

 

6.             Manner of Exercise.  Before the end of the Option Period, this
Stock Option may be exercised only by Participant (or by Participant’s guardian
or legal representative, or by Participant’s estate (if Participant is
deceased)) up to the extent then vested and exercisable by delivering to the
Company’s stock option administrator an irrevocable notice of exercise in the
form required by the Company.  The notice
of exercise shall state the number of Shares for which the Option is being
exercised and shall be accompanied by payment in full of the Grant  Price for those Shares (under Section 7
below) and applicable tax withholdings (under Section 10 below).

 

7.             Payment of Grant
Price.  Participant may pay the Grant
Price by wire transfer or check (bank check, certified check or personal check)
or by delivering to the Company for cancellation, in accordance with the rules
of the Committee, shares of Common Stock which have a Fair Market Value in
United States dollars equal to the Grant Price and which either (i) were
purchased on a national stock exchange or on the NASDAQ NMS system or (ii) have
been issued and outstanding more than six months.  The Grant Price is payable in United States
dollars.

 

8.             Delivery of Shares.  The Company will deliver to Participant the
Shares (either in certificate or electronic form as requested by Participant)
promptly after proper exercise of the Option and receipt of the Grant Price and
applicable tax withholdings. 
Notwithstanding any provision in this Agreement to the contrary, the
obligation of the Company to deliver Shares is subject to the condition that if
at any time the Committee shall determine in its discretion that the listing,
registration, or qualification of the Stock Option or the Shares upon any
securities exchange or under any state or federal law, or the consent or
approval of any governmental regulatory body, is necessary as a condition of,
or in connection with, the Stock Option or the issuance or purchase of Shares
thereunder, then the Stock Option may not be exercised in whole or in part
unless such listing, registration, qualification, consent or approval shall have
been effected or obtained free of any conditions not reasonably acceptable to
the Committee.

 

9.             Tax Requirements
for Incentive Stock Options; Disqualifying Disposition.  This Section 9 will apply only if this
Stock Option is identified as an Incentive Stock Option or ISO on the
Certificate.  If this Section 9
applies, then subject to the provisions of the Plan, this Stock Option is an
Incentive Stock Option.  To the extent
the number of Shares exceeds the limit set forth in Section 4 of the Plan,
such Shares shall be deemed granted pursuant to a Nonqualified Stock
Option.  In such event, then unless
otherwise indicated by Participant in the notice of exercise pursuant to Section 6
above, upon any exercise of this Stock Option, the number of exercised Shares
that shall be deemed to be exercised pursuant to an Incentive Stock Option
shall equal the total number of Shares so exercised multiplied by a fraction,
(a) the numerator of which is the number of unexercised Option Shares that
could then be exercised pursuant to an Incentive Stock Option and (b) the
denominator of which is the then total number of unexercised Option Shares that
could then be exercised.  If Common Stock
acquired upon exercise of this Stock Option is disposed of by Participant in a “Disqualifying
Disposition,” such Participant shall notify the Company in writing within 30
days after such disposition of the date and terms of such disposition.  For purposes hereof, “Disqualifying
Disposition” means a disposition of Common Stock that is acquired upon the
exercise of an Incentive Stock Option prior to the expiration of

 

5

 

either two years from the Grant Date of such Incentive Stock Option or
one year from the transfer of Shares to Participant pursuant to the exercise of
such Incentive Stock Option.  If a
Disqualifying Disposition occurs, the tax requirements described in Section 10
will apply.

 

10.           Tax Requirements and
Withholdings for Nonqualified Stock Options.  This Section 10 will apply only if this
Stock Option is identified as a Nonqualified Stock Option or NQ on the
Certificate or is considered a Nonqualified Stock Option under Section 9
above.  In order to provide the Company
and its Subsidiaries with the opportunity to claim the benefit of any income
tax deduction in any jurisdiction which may be available to it upon the
exercise of the Nonqualified Stock Option, and in order to comply with all
applicable income tax laws or regulations of any applicable country, state or
other jurisdiction, the Company and its Subsidiaries may take such action as it
deems appropriate to ensure that, if necessary, all applicable payroll,
withholding, income, NIC or other taxes (of any applicable country, state or
other jurisdiction) are withheld or collected from Participant.  Participant may elect to satisfy Participant’s
minimum income tax withholding obligations under such laws or regulations upon
exercise of the Option by (i) paying that amount by wire transfer or check
(bank check, certified check or personal check), (ii) having the Company or its
Subsidiaries withhold a portion of the shares of Shares otherwise to be
delivered upon exercise of such Option having a Fair Market Value in United
States dollars (on the date of exercise of Option) equal to the minimum amount
of such taxes required to be withheld on such exercise, in accordance with the
rules of the Committee, or (iii) delivering to the Company for cancellation, in
accordance with the rules of the Committee, shares of Common Stock which have a
Fair Market Value equal to such tax withholdings and which either (a) were
purchased on a national stock exchange or on the NASDAQ NMS system or (b) have
been issued and outstanding more than six months.  The Company may, at its discretion, require
Participant to pay the withholding taxes under clause (i) above in lieu of the
alternatives in clauses (ii) or (iii) above.

 

11.           Investment
Representation.  Unless the Common
Stock is issued to Participant in a transaction registered under applicable
federal and state securities laws, Participant represents and warrants to the
Company that all Common Stock which may be purchased hereunder will be acquired
by Participant for investment purposes for Participant’s own account and not
with any intent for resale or distribution in violation of federal or state
securities laws.  Unless the Common Stock
is issued to Participant in a transaction registered under the applicable
federal and state securities laws, all certificates issued with respect to the
Common Stock shall bear an appropriate restrictive investment legend.

 

12.           Impact on Employment
Status.  This Agreement, the Certificate and the Plan
are not an employment contract.  Nothing
contained in this Agreement, the Certificate or the Plan shall confer on
Participant any right to continue in the employ of the Company or any
Subsidiary or other affiliate of the Company or affect in any way the right of
the Company or any Subsidiary or other affiliate to terminate the employment of
Participant at any time.

 

13.           Adjustments.  In the event of any stock split, stock
dividend, recapitalization or combination of shares by the Company after the
Grant Date, the number of Shares subject to the Option and the Grant Price per
Share shall be equitably adjusted in the same manner as the outstanding shares
of Common Stock, in accordance with the rules of the Committee.  The number of Option Shares designated in the
Certificate has been adjusted for all stock splits that were effective before
the Grant Date.

 

6

 

14.           Non-Transferability
of Option.  This Stock Option is not
assignable or transferable by Participant except by will or by the laws of
descent and distribution.

 

15.           Consent to Internal
Use of Personal Data.  Participant
consents to the Company’s and its Subsidiaries’ (and the Company’s stock option
administrator) receiving and using personal data related to Participant for
employment-related purposes only and for gathering and making required reports
to government authorities.

 

15.           No Right of Future
Stock Option Grants.  Nothing
contained in this Agreement, the Certificate or the Plan shall confer on
Participant any right to receive any additional stock options in the future
from the Company, Subsidiary or any other affiliate of the Company or affect in
any way the right of the Company, Subsidiary or any other affiliate to
terminate the granting of stock options at any time.

 

16.           Interpretation of Terms;
General.  The Committee shall interpret the terms of
the Option and this Agreement, the Certificate and Plan and all determinations
shall be final and binding.  The Option
and this Agreement, the Certificate and Plan (1) are governed by the laws of
the State of Minnesota, (2) may be amended only in writing, signed by an
executive officer of the Company, and (3) supersede any other verbal or written
agreements or representations concerning the Option.

 

17.           Official Language.  The official language of the Option and this
Agreement, the Certificate and Plan is English. 
Documents or notices not originally written in English shall have no
effect until they have been translated into English, and the English
translation shall then be the prevailing form of such documents or
notices.  Any notices or other documents
required to be delivered to the Company (or stock option administrator) under
this Notice, shall be translated into English, at Participant’s expense, and
provided promptly to the Company in English (to the attention of the Company’s
Corporate Secretary).  The Company may
also request an untranslated copy of such documents.

 

18.           Signature and
Validity.  An executive officer of
the Company has signed this Agreement electronically on behalf of the
Company.   The Participant is deemed to
have signed this Agreement and agreed to all of its terms by having
electronically indicated Participant’s acceptance and agreement on the
Certificate on the Salomon Smith Barney website at www.benefitaccess.com.  If there is any discrepancy between the
number of Option Shares shown in the Certificate and the number shown in the
records of the Company’s Corporate Secretary, the records of the Company’s
Corporate Secretary shall prevail.

 

	
  Lawson Software, Inc.

  
	
   

  
	
   

  
	
  By

  	
  /s/ Jay Coughlan

  	
   

  
	
   

  	
   

  
	
   

  	
  Jay Coughlan,

  
	
   

  	
  President and Chief Executive Officer

  

 

7Prepared and filed by St Ives Burrups

SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT

This Second Amended and Restated Employment Agreement (this “Agreement”) is made as of the 31st day of December 2004 between Glowpoint, Inc., a Delaware corporation having its principal office at 225 Long Avenue, Hillside, New Jersey 07205 (hereinafter “Glowpoint”), and Richard Reiss, 10 Timber Acres Road, Springfield, New Jersey 07081 (hereinafter “Employee”). 

WHEREAS, Employee and Glowpoint entered into an Amended and Restated Employment Agreement on October 14, 2003 (the “Employment Agreement”); and 

WHEREAS, Employee possesses certain executive-level knowledge of Glowpoint, the videoconferencing industry and competitors of Glowpoint; and 

WHEREAS, this Agreement amends and restates the Employment Agreement in its entirety effective as of the Effective Date; and

WHEREAS, Glowpoint wishes to retain Employee to assist Glowpoint’s management and Board of Directors by providing general executive-level advice regarding Glowpoint, the videoconferencing industry and competitors of Glowpoint.

NOW, THEREFORE, in consideration of their mutual promises made herein, and for other good and valuable consideration, the parties hereby agree as follows:

		
1.	
Employee Duties.  Employee shall provide general executive-level advice regarding Glowpoint, the videoconferencing industry, and competitors of Glowpoint.  Employee shall devote such portion of his business time as is reasonably required to fully perform his services under this Agreement.

		 	 
		
2.	
Term of Agreement.  The term of Employee’s services under this Agreement (the “Employment Term”) shall commence as of the date hereof and shall terminate on December 31, 2005.

		 	 
		
3.	
Compensation.  As compensation for Employee’s services under this Agreement, beginning January 1, 2005, Glowpoint shall pay Employee a salary of $150,000 (the “Salary”) for the remainder of the Employment Term, in the amount of $12,500 per month, payable on the fifteenth day of each month.  Employee’s rights as an optionee under Glowpoint’s 2000 Stock Incentive Plan (the “Plan”) shall continue to be governed by the terms of the Plan and the associated stock option agreements currently in effect (the “Award Agreements”). Glowpoint shall, in addition to Employee’s compensation, reimburse Employee for any reasonable expenses incurred by Employee in the performance of his duties under this
Agreement, upon submission of evidence thereof reasonably satisfactory to Glowpoint, including but not limited to:  

 

 

		 	 	 
		
 	
(a)	
Employee’s BMW car lease through its expiration onDecember 31, 2005, as well as related service and insurance costs; 

		 	 	 
		
 	
(b)	
Employee’s cell phone monthly charges through December 31, 2005, including the cost of all calls made by Employee in the performance of his duties under this Agreement; 

		 	 	 
		
 	
(c)	
the cost to maintain a Glowpoint line and a business telephone line at Employee’s home through December 31, 2005, as well as the cost of all video and telephone calls made by Employee in the performance of his duties under this Agreement; 

		 	 	 
		
 	
(d)	
Employee’s business travel expenses related to performance of his duties under this Agreement through December 31, 2005, which expenses have been pre-approved by Glowpoint; and 

		 	 	 
		
 	
(e)	
the premiums on a life insurance policy in the principal amount of $1,000,000 for a term through December 31, 2005, containing substantially the same terms and conditions as the life insurance policy currently maintained by Glowpoint on Employee’s life, payable to Employee’s designated beneficiary or Employee’s estate.

		 	 
		
4.	
Benefits. In addition to the above-listed compensation and expense reimbursements, Employee shall be entitled to:  

		 	 	 
		
 	
(a)	
retain the laptop computer, cell phone and Polycom ViewStation and associated monitor currently in Employee’s possession which were purchased by Glowpoint for Employee’s use.

		 	 	 
		
 	
(b)	
extension of the post-termination exercise period under the Plan and each Award Agreement to twenty-four (24) months after the expiration of the Employment Term; provided, however, that to the extent not exercised within the time permitted by law for the exercise of incentive stock options following the termination of Employee’s employment, such options shall convert automatically to non-qualifying stock options.

		 	 	 
		
 	
(c)	
In the event that Employee elects COBRA coverage following the termination of the Employment Term, Glowpoint will, for the eighteen (18) month period provided pursuant to COBRA following such termination,  pay the applicable COBRA premiums on Employee’s behalf to maintain Employee’s individual and family Glowpoint health insurance coverage (including without limitation hospital and dental care).  As of the termination of that 18-month period, Employee will be solely responsible for all applicable insurance premiums.

 

- 2 -

		 	 
		
5.	
Confidential Information; Non-Solicitation.  Except as required in connection with the performance of services to Glowpoint, Employee shall not, during or after the termination of the Employment Term, use or disclose to any person, partnership or corporation any confidential business information or trade secrets of Glowpoint obtained or learned by Employee during the Employment Term.  Employee also agrees that he shall not, for a period of one (1) year following the termination of the Employment Term, induce any employee of Glowpoint to terminate his or her employment with Glowpoint.  Solely with respect to this Paragraph 5 and Paragraph 6 herein, the term “Employment Term” shall include all periods of Employee’s employment with
Glowpoint, including those which precede the date hereof.

		 	 
		
6.	
Work Product.  Employee hereby agrees that all ideas, creations, improvements and other works of authorship created, developed, written or conceived by Employee within the scope of his employment under this agreement at any time during the Employment Term are works for hire and shall be the property of Glowpoint free of any claim whatever by Employee or any person claiming any rights or interests through Employee.

		 	 
		
7.	
Employee’s Other Endeavors.  Glowpoint acknowledges that Employee plans to pursue employment or consultancy engagements by parties
other than Glowpoint (“Other Endeavors”) and that Employee shall (subject to the final sentence of Paragraph 1 above) have the unrestricted right to pursue Other Endeavors, whether or not any such Other Endeavor results in a conflict of interest with the interests of Glowpoint (a “Conflict”). If Employee secures any Other Endeavor (of which Employee shall promptly notify Glowpoint, for purposes of this Paragraph 7), (a) Employee shall have the right to terminate the Employment Term effective upon no less than least ten days’ prior written notice to Glowpoint and (b) if Glowpoint reasonably
determines that such Other Endeavor results in a Conflict, Glowpoint shall have the right to terminate the Employment Term effective upon no less than ten days’ prior written notice to Employee (provided that, in the event of such a termination under this Paragraph 7, Employee shall nevertheless continue to be entitled to receive any then-outstanding installments of the Salary when otherwise payable hereunder through the end of the Employment Term).

		 	 
		
8.	
Miscellaneous.  This Agreement is made in the State of New Jersey and shall be governed by the laws of the State of New Jersey.  The parties in any action arising from this Agreement shall be subject to the jurisdiction and venue of the federal and state courts, as applicable, situated within the State of New Jersey.  This Agreement constitutes the entire agreement, and shall supersede any prior or contemporaneous agreement oral or written, between the parties hereto regarding Employee’s services to Glowpoint as an employee as and from the Effective Date forward and may not be modified or amended except by a written document signed by the party against whom enforcement is sought.  This Agreement may be signed in more than one counterpart, in which
case each counterpart shall constitute an original of this Agreement.

 

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

	 	GLOWPOINT, INC.
	 	 	 
	 	 	 
	 	By:	

	 	 	Name:
	 	 	Title:
	 	 
	 	 
	 	

	 	Richard Reiss

 

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