Document:

Exhibit 10.4

 

FIRST AMENDMENT

TO SHAREHOLDER IRREVOCABLE UNDERTAKING

 

This FIRST AMENDMENT
TO SHAREHOLDER IRREVOCABLE UNDERTAKING (this “Amendment”) is effective as of December 14,
2005, by and between Lawson Software, Inc.,
a Delaware corporation (“Lawson”) and
the undersigned Shareholder (“Shareholder”)
of Intentia International AB (publ),
a company organized under the laws of Sweden, (“Intentia”).  All capitalized terms used but not defined in
the Amendment have the meaning assigned to them in the Shareholder Irrevocable
Undertaking (the “Shareholder Irrevocable
Undertaking”), dated June 2, 2005, by and among Lawson and
Shareholder.

 

RECITALS

 

WHEREAS, Lawson and
Shareholder have previously entered into the Shareholder Irrevocable
Undertaking which sets forth, among other matters, the terms and conditions
under which Shareholder will vote in favor of the proposed business combination
Intentia with Lawson;

 

WHEREAS, Intentia,
Lawson, Lawson Holdings, Inc., a Delaware corporation and Lawson
Acquisition, Inc., a Delaware corporation, have entered into a Transaction
Agreement, dated June 2, 2005 (the “Transaction
Agreement”) and a first amendment to the Transaction Agreement,
effective as of December 14, 2005 (the “Transaction Agreement Amendment”); and

 

WHEREAS, each of
Lawson and Shareholder desires that certain terms of the Shareholder
Irrevocable Undertaking be amended, as set forth herein.

 

NOW, THEREFORE, in
consideration of the premises and of the mutual covenants and agreements set
forth herein and in the Shareholder Irrevocable Undertaking, the parties hereto
agree as follows:

 

1.             All
references in the Shareholder Irrevocable Undertaking and in this Amendment
shall be understood to refer to the Transaction Agreement as amended by the
Transaction Agreement Amendment or by any subsequent amendment to the
Transaction Agreement.

 

2.             Section 2
of the Shareholder Irrevocable Undertaking is amended and restated in its
entirety as follows:

 

“2.  Restriction
on Transfer, Proxies and Non-Interference.       Except as expressly contemplated by this Agreement, at all
times during the period commencing with the execution and delivery of this
Agreement and continuing until the Expiration Date, Shareholder shall not,
directly or indirectly, (i) cause or permit the Transfer of any of the
Shares to be effected, or discuss, negotiate or make any offer regarding any
Transfer of any of the Shares, (ii) grant any proxies or powers of
attorney with respect to any of the Shares, deposit any of the Shares into a
voting trust or enter into a voting agreement or other similar commitment or
arrangement with respect to any of the Shares in contravention of the
obligations of Shareholder under this Agreement, (iii) request that
Intentia register the Transfer of any certificate or uncertificated interest
representing any

 

 

of the Shares, or (iv) take any action that would make any
representation or warranty of Shareholder contained herein untrue or incorrect,
or have the effect of preventing or disabling Shareholder from performing any
of Shareholder’s obligations under this Agreement.  Notwithstanding the foregoing or anything to
the contrary set forth in this Agreement, (A) Shareholder may sell Shares
for cash to the extent necessary to pay taxes incurred as a direct result of
the exercise of Intentia options or warrants, provided that such exercise
occurs after the termination of the restrictions described in Section 3(iii) below
and (B) in the event of the termination of the Transaction Agreement,
Shareholder may sell Shares at any time during the period commencing on the
date of such termination and ending on the Expiration Date in an aggregate
amount (including for these purposes any amounts sold pursuant to the
immediately preceding clause (A)) of up to 25% of the Shares.”

 

3.             Section 3
of the Shareholder Irrevocable Undertaking is amended and restated in its
entirety as follows:

 

“3.  Undertaking.  Shareholder hereby undertakes to (i) accept
the Offer in respect of the Shares, including all Warrants, and tender such
Shares, including all Warrants, within 15 business days from the date on which
the acceptance period under the Offer commences and not withdraw such
acceptance once tendered; (ii) vote against any proposal made in
opposition to, or in competition with, consummation of the Offer, including any
Acquisition Proposal, at any meetings of the shareholders of Intentia at which
any such proposal is considered; and (iii) not exercise any option,
warrant or other right to acquire Shares held by it, including, without
limitation, the Warrants until the earlier to occur of (A) the termination
of the Offer by Lawson in accordance with the terms and conditions set forth in
the Press Announcement, or (B) termination of the Transaction Agreement.”

 

4.             Shareholder
hereby represents and warrants to Lawson that, since June 2, 2005, it has
not exercised any option, warrant or other right to acquire Shares, including,
without limitation, the Warrants.

 

5.             This
Amendment shall be governed by and construed in accordance with the laws of the
State of New York, USA, without regard to its principles of conflicts of laws
(except to the extent that applicable laws governing the corporate organization
of Intentia mandate the application of the laws of the jurisdiction of
organization of such party).  Each party
irrevocably and unconditionally consents and submits to the jurisdiction of the
state and federal courts located in the State of Delaware for purposes of any
action, suit or proceeding arising out of or relating to this Amendment.

 

6.             Except
as expressly amended hereby, the parties to this Amendment intend for the
Shareholder Irrevocable Undertaking to remain in full force and effect and to
be legally bound by the Shareholder Irrevocable Undertaking as amended by this
Amendment.

 

2

 

IN WITNESS WHEREOF,
the undersigned have executed, or caused this First Amendment to Shareholder
Irrevocable Undertaking to be executed by a duly authorized officer, as of the
date first written above.

 

 

	
   

  	
   

  	
  LAWSON
  SOFTWARE, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: Bruce B.
  McPheeters

  
	
   

  	
   

  	
  Title: Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SHAREHOLDER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Address:

  	
   

  
	
   

  	
   

  	
  Facsimile No.:

  	
   

  
								

 

3Exhibit 10.33

  
	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  

 

Cascade Natural Gas
Corporation

Cascade Incentive Plan

2006

 

Cascade Natural Gas has
an incentive plan designed to reward salaried employees for outstanding,
company performance. The objectives of this plan are to:

 

•                  Reward for company performance

 

•                  Emphasize performance in critical
areas such as safety and customer satisfaction

 

•                  Shift to a performance-based,
financially-driven organization

 

•                  Emphasize the importance of cash flow
to company financial success

 

•                  Establish a link between pay and
company performance

 

•                  Establish a profitable customer focus

 

•                  Encourage team building

 

•                  Link to Company’s objectives

 

•                  Attract, retain and motivate teams
and employees

 

•                  Motivate higher levels of performance

 

•                  Focus employees on company direction
(in their actions)

 

CASCADE
INCENTIVE PLAN

 

The purpose of the plan
is to provide a financial incentive for salaried employees to perform at high
levels, both with regard to non-financial and financial measures.  All salaried employees in the company are
eligible to participate in this plan.

 

Plan Funding

 

The threshold for
establishing funding for the plan is based on two factors:  1) Earnings per Share (EPS)  greater than dividends paid ($.96 per share);
and 2) the company is “cash flow neutral”. 
Cash flow neutral is defined later in the plan.  After both of these factors are achieved,
pre-tax earnings will be shared with 50% going to the incentive plan and 50%
going to shareholders (retained earnings). 
Funding for incentive plans shall go to both this incentive plan and the
401(k) Profit Sharing Plan once the threshold is met.

 

Funding
for Non-financial measures – Funding for non-financial
measures at mid-point award levels will be 30% of the total potential mid-point
payout.  All funding for the incentive
plan up to 30% of the total potential mid-point payout will be used for payouts
for achievement of non-financial measures.

 

1

 

Funding
for Financial measures – Funding for performance for financial
measures begins after the payout for non-financial measures is funded.  (Above 30% of total potential mid-point
payout.)

 

Cash Flow Neutral - Definition

 

Having a neutral or
positive cash flow is essential for the financial success of the company, just
like it is essential for the financial success of your household.  Having a positive cash flow demonstrates
control of operating and capital expenses and reduces the need to borrow money.

 

Cash flow is defined as:

 

	
   

  	
   

  	
  Net Income

  
	
   

  	
   

  	
   

  
	
  +

  	
   

  	
  depreciation

  
	
   

  	
   

  	
   

  
	
  +

  	
   

  	
  common stock
  issued through existing plans

  
	
   

  	
   

  	
   

  
	
  –

  	
   

  	
  capital
  expenditures

  
	
   

  	
   

  	
   

  
	
  –

  	
   

  	
  dividends

  
	
   

  	
   

  	
   

  
	
  =

  	
   

  	
  cash flow

  

 

Non-Financial Performance Measures

 

Payouts
for performance in non-financial measures shall be based on the following
measures:

 

1.               Safety  The
safety measure is based on a company-wide pipeline safety score.  This score is composed of maintenance schedule rating,
missed locates and ratings on other issues including maintaining appropriate
records, appropriate emergency response and maintaining operator qualifications
as required.

 

2.               Customer Satisfaction  Customer
satisfaction is determined by customer’s responses to the annual customer
satisfaction survey.

 

Other non-financial
measures may be tracked, and may be critical to overall company performance,
but will not be factored into any payouts achieved under the plan.

 

Communication of Measures

 

Specific Measures will be
communicated by the beginning of December.

 

2

 

Award Potentials

 

Employees participating
in the plan are eligible for an incentive payout. The payout is calculated as a
percentage of the employee’s base pay and is dependent upon the achievement of
the incentive plan goals and company performance. The details of this target
payout are described below:

 

•                  The incentive payout at midpoint
performance varies depending on level in the company.

•                  The plan outlines three levels of
performance:

•                  Threshold: represents the minimum
acceptable level of performance for the measure; funding for the plan begins at
the threshold level.

•                  Plan Mid Point: represents the level
of performance that generates an incentive payout of 100% of plan mid point.

•                  Outstanding: represents the maximum
level of performance for the measure; this level of performance generates an
incentive payout of 200% of target.

•                  The level of achievement in the
earnings per share measure will determine the funding level of the plan.  Payouts cannot exceed the funding pool.

 

Timing of Payout

 

Awards will be paid out annually. Payments will be made to employees by
December 1st, 2006

 

Eligibility

 

Employee’s
performance must meet expectations for their job and they must be an “employee
in good standing.” An employee in good standing is defined as not have received
any discipline at the written warning level or above.

 

All
awards will be pro-rated based on the length of service in that plan year.  Employees must have a minimum of three months
of service with Cascade in order to be eligible to participate in the plan.

 

Base Pay Definition

 

For the purposes of calculating incentive awards, earned base pay and
actual overtime earnings will be used for non-exempt employees and earned
annual base pay will be used for exempt employees. Base pay calculations do not
included bonuses, merit awards, incentive earnings or other pay that would be
reflected in W-2 earnings.

 

3

 

Benefits

 

Incentive pay is included in the definition of pay for the purpose of
matching and employer contributions in the 401(k).

 

Terminations

 

Individuals must be employed at the end of the fiscal year in order to
be eligible to receive a payout. Pro-rated awards will be paid to those who
terminate due to retirement, disability or death.

 

The company reserves the right to alter, amend or cancel this program
at any time.

 

4

 

Cascade Natural Gas
Corporation

401(k) Profit Sharing Plan

2006

 

Cascade Natural Gas has a
401(k) profit sharing plan designed to reward employees for outstanding company
performance and help fund their retirement. 
All salaried employees in the company are eligible to participate in
this plan.  Plan funding is described
below.  Payouts at midpoint are 4% for
all salaried employees.

 

Plan Funding

 

The 401(k) Profit Sharing
Plan is funded consistent with the Cascade Incentive Plan for 2006.  The threshold for establishing funding for the
Cascade Incentive Plan is based on two factors: 
1) Earnings per Share (EPS) are greater than dividends paid ($.96 per
share); and 2) the company is “cash flow neutral”.  (See the Cascade Incentive Plan for the
definition of Cash flow neutral.)  After
both of these factors are achieved, pre-tax earnings will be shared with 50%
going to the incentive plan and 50% going to shareholders (retained
earnings).  Funding for incentive plans
shall go to both the Cascade Incentive Plan and the 401(k) Profit Sharing Plan
once the threshold is met.  The threshold
for the 401(k) Profit Sharing Plan shall be the level where midpoint incentive
plan funding for the Cascade Incentive Plan is met.

 

	
  401(k) Profit Sharing

  	
   

  	
   

  
	
  Threshold

  	
   

  	
  Midpoint of the Cascade Incentive Plan

  
	
  Mid-point

  	
   

  	
  Level where midpoint payouts are funded

  
	
  Maximum

  	
   

  	
  Level where 2X midpoint payouts are funded

  

 

Base Pay Definition

 

For the purposes of calculating incentive awards, earned base pay and
actual overtime earnings will be used for non-exempt employees and earned
annual base pay will be used for exempt

 

5

 

employees. Base pay calculations do not included bonuses, merit awards,
incentive earnings or other pay that would be reflected in

W-2 earnings.

 

Terminations

 

Individuals must be employed at the end of the fiscal year in order to
be eligible to receive a payout. Pro-rated awards will be paid to those who
terminate due to retirement, disability or death.

 

The company reserves the right to alter, amend or cancel this program
at any time.

 

6

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