Document:

Amended Non-Employee Director Compensation Plan

 EXHIBIT 10.3 
 NON-EMPLOYEE DIRECTOR COMPENSATION PLAN 
  

	1)	All director annual retainer and applicable fees will be paid in the form of a grant of Restricted Stock Units (“RSUs”) pursuant to the Company’s 2004 Performance
Incentive Plan (the “Plan”). 

  

	2)	RSUs will vest in three equal annual installments beginning on the first anniversary of the grant date but will vest in full on the earlier of (i) the date the applicable Director
ceases to be a Director of the Company or (ii) a Change in Control (as defined in the Plan). 

  

	3)	Dividend equivalents on the awards are deferred (credited with interest quarterly at the same rate as five-year U.S. government bonds) and paid out at the same time the
corresponding portion of the award vests. 

  

	4)	The Company may elect to make payment upon vesting of the RSUs in the form of Company common stock or cash. 

  

	5)	The schedule of fees is as follows: 

  

					
	 Base Fee:
	  			
	 Director annual retainer
	  	$	220,000	 
		
	 Additional Fees:
	  			
	 Chairman of the Board
	  	$	200,000	*
	 Chairman of Audit Committee
	  	$	35,000	 
	 Chairs of other Committees
	  	$	20,000	 
	 Audit Committee member other than Chairman
	  	$	20,000	 

	*	To be reduced to $150,000 for grants made at or after the date of the 2008 Annual Meeting of Shareholders. 

  
 Approved by the Board of Directors on July 25, 2007Amendment No. 1 To Amended and Restated Receivables Financing Agreement

 Exhibit 10.01 
 AMENDMENT NO. 1 TO 
 AMENDED AND RESTATED RECEIVABLES FINANCING AGREEMENT 
 This Amendment No. 1 to the Amended and Restated Receivables Financing Agreement (the “Amendment”) is made and entered into as of
July 30, 2007 among (i) BROOKE ACCEPTANCE COMPANY 2007-1, LLC, a Delaware limited liability company (together with it successors and permitted assigns, the “Borrower”), (ii) BROOKE WAREHOUSE FUNDING, LLC, a Delaware
limited liability company (together with its successors and permitted assigns, “BWF”), (iii) BROOKE CREDIT CORPORATION, a Kansas corporation (“BCC”), as seller (together with its successors and permitted
assigns, the “Seller”), and as subservicer (in such capacity, the “Subservicer”), and (iv) FIFTH THIRD BANK, an Ohio banking corporation (together with its successors and permitted assigns, “Fifth
Third”) (in such capacity, whether on its own behalf or for the benefit of Fountain Square Commercial Funding Corp., a Delaware corporation (“Fountain Square”), together with its successors and permitted assigns, the
“Lender”). 
 WHEREAS, the Borrower, the Seller, and the Lender entered into the Amended and Restated Receivables Financing
Agreement dated as of March 30, 2007, (the “Receivables Financing Agreement”) and desire to amend the Receivables Financing Agreement as hereinafter set forth. All terms used but not otherwise defined herein have the meanings
given to them in the Receivables Financing Agreement. 
 NOW, THEREFORE, for good and valuable consideration, the adequacy, receipt, and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 Section 1. Amendment to Section
8.1(t) 
 Section 8.1(t) is hereby amended and restated in its entirety to read as follows: 
 “Replacement Facility. The facility provided by the Lender pursuant to this Agreement shall not have been replaced by a new master trust
facility with the Lender on or before September 30, 2007.” 
 Section 2. Condition to Effectiveness. This Amendment
shall become effective on such date (the “Effective Date”) when each of the parties hereto shall have received counterparts of this Amendment executed by the other party (including facsimile signature pages). 
 Section 3. Effect of Amendment; Ratification. Except as specifically amended hereby, the Receivables Financing Agreement shall remain in full
force and effect and is hereby ratified and confirmed in all respects. 
 Section 4. Counterparts. This Amendment may be executed
in any number of counterparts and by different parties on separate counterparts, and each counterpart shall be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

 Section 5. Entire Agreement. This Amendment contains the final and complete integration of
all prior expressions by the parties hereto with respect to the subject matter hereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter hereof superseding all prior oral or written understandings.

 Section 6. Governing Law. This Amendment shall be governed by, and construed in accordance with, the internal laws of the
State of New York without regard to any otherwise applicable conflict of laws principles. 
 Section 7. Section Headings. The
various headings of the Amendment are inserted for convenience only and shall not affect the meaning or interpretation of this Amendment or the Receivables Financing Agreement or any provision hereof or thereof. 
 [Signatures Begin on Next Page] 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective
duly authorized officers, as of the date and year first above written. 
  

			
	 BROOKE ACCEPTANCE COMPANY 2007-1
 LLC, as
Borrower

		
	By	 	 Michael Lowry

	Name:	 	Michael Lowry
	Title:	 	President
	  
 BROOKE WAREHOUSE FUNDING, LLC, as Original Borrower, Purchaser and
Transferor
  

	By	 	 Michael Lowry

	Name:	 	Michael Lowry
	Title:	 	President
	  
 BROOKE CREDIT CORPORATION, as Seller and
Subservicer

		
	By	 	 Michael Lowry

	Name:	 	Michael Lowry
	Title:	 	Chief Executive Officer
	
	FIFTH THIRD BANK, as Lender
		
	By	 	 Andrew D. Jones

	Name:	 	Andrew D. Jones
	Title:	 	Assistant Vice President

 Signature Page to Amendment No. 1 to the Amended and Restated Receivables Financing AgreementEX-10.1

Transition Agreement

This Transition Agreement made as of this 1st day of August 2007 by and between Lionbridge
Technologies, Inc. (the “Company”) and Stephen J. Lifshatz (“Mr. Lifshatz”).

WHEREAS Mr. Lifshatz has served as the Company’s Chief Financial Officer since January 1997;

WHEREAS, Mr. Lifshatz has indicated to the Company his desire to explore another professional
opportunity which has been or may be presented to him; and

WHEREAS the Company desires to secure his continued service for a designated period of time to
allow for the timely completion of his current assignments and to allow for an appropriate
transition of duties to a new Chief Financial Officer, and to provide strategic advice to the
Company for a period of time following selection of a successor Chief Financial Officer.

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained herein, the
parties agree as follows.

1. (a) Contractual Status. Mr. Lifshatz agrees to remain employed as the Company’s Chief
Financial Officer from the date of this Transition Agreement until the earlier of the date a new
Chief Financial Officer commences employment with the Company, a date mutually agreed between Mr.
Lifshatz and the Company, or August 24, 2007 (“Transition Period”) and shall immediately resign
from the position of Chief Financial Officer on such date. During this Transition Period, Mr.
Lifshatz will continue to perform those duties and responsibilities customary and consistent with
his position as Chief Financial Officer, including those activities set forth on Attachment
A (the “Transition Activities”). The Company agrees that it shall make reasonable
accommodations to Mr. Lifshatz in order to facilitate his efforts to explore other professional
opportunities, provided that such efforts do not interfere with or impede Ms. Lifshatz’s
performance of his duties as described above and in Attachment A. During this Transition Period,
Mr. Lifshatz will continue to receive the same salary, fringe benefits, and restricted stock and
stock option vesting to which he was entitled immediately prior to the execution date of this
Transition Agreement. In addition, Mr. Lifshatz shall remain entitled to receive a pro-rata share
of his incentive compensation due under the Company’s Management Incentive Plan for the portion of
2007 during which he served as CFO (i.e., determined based on the period from January 1, 2007
through the Transition Date (defined below), and determined based on achievement of the metrics set
forth in the MIP, as determined by the Company and its Nominating and Compensation Committee in its
sole discretion and with respect to the revenue and profit metrics of the MIP, utilizing a
consistent manner of determination of achievement of such metrics as is utilized for other MIP
participants), payable following the end of 2007 and after public announcement of the Company’s
financial results for fiscal year 2007. The date of Mr. Lifshatz’s resignation as Chief
Financial Officer is referred to herein as the “Transition Date”. Effective as of the date Mr.
Lifshatz resigns as Chief Financial Officer, he shall also automatically resign as an officer or
director of any subsidiary of the Company, and as Assistant Secretary and Assistant Treasurer of
the Company and will execute any documentation requested by the Company to effect such
resignations.

(b) Strategic Advisor.

(i) Duties. Effective on the Transition Date, Mr. Lifshatz shall serve as an
employee of the Company in the capacity of strategic advisor to the Company, reporting to the Chief
Executive Officer, for the period commencing on the Transition Date and ending on the 10 month
anniversary of the Transition Date (such period to be referred to as the “Post-Transition Period”,
and its end date as the “Termination Date”). During the Post-Transition Period, Mr. Lifshatz
shall continue to exercise such powers and comply with and perform, faithfully and to the best of
his ability, such directions and duties in relation to the business and affairs of the Company as
may from time to time reasonably be vested in or requested of him, which shall include, but not be
limited to, transition activities and other special strategic projects as reasonably requested by
the Chief Executive Officer. Mr. Lifshatz may be employed by another entity during the
Post-Transition Period provided such employment is not in violation of the non-competition
obligations described in Section 3 and provided further that such activities do not diminish his
ability to carry out his duties to the Company.

(ii) Salary and Benefits. During the Post-Transition Period, Mr. Lifshatz shall be
paid the same base salary level as he previously received, and receive the same fringe benefits,
including health and welfare benefits as received by other U.S. employees of the company, but shall
no longer be eligible for participation in the Management Incentive Plan for the remaining portion
of 2007 or any subsequent year. Any and all fringe benefits that are referenced in this
subparagraph shall be terminated sooner as of any date that Mr. Lifshatz commences receiving
substantially similar or better benefits through another employer.

(iii) Equity. At the end of the Post-Transition Period and upon a determination by
the Board of Directors reasonably and in good faith that Mr. Lifshatz has discharged his duties in
accordance with this Agreement, vesting with respect to 50% of any options and restricted stock
which are unvested or not exercisable as of the last day of the Post-Transition Period shall be
accelerated.

(iv) Right of Company to Terminate for Cause. At any time during this Post-Transition
Period, the Company may terminate Mr. Lifshatz’ employment with or without notice for Cause. For
purposes of this agreement, the following events or conditions shall constitute “Cause” for
termination: (a) fraud, embezzlement, or other act of dishonesty by Mr. Lifshatz that causes
material injury to the Company or any of its affiliates; (b) conviction of, or plea of nolo
contendere to, any felony involving dishonesty or moral turpitude associated with the Company; or
(c) a failure by Mr. Lifshatz to take or refrain from taking any corporate action consistent with
his duties as an employee of the Company as specified in written directions of the Board or the
President and Chief Executive Officer following receipt by the Executive of such written
directions, which failure is not cured within 30 days after written notice that failure to take or
refrain from taking such action shall constitute “Cause” for purposes hereof. In addition, a
breach of Section 3 of this Agreement, or the underlying agreements referenced in Section 3, is
“Cause”. The date upon which the Post-Transition Period, and Mr. Lifshatz’s employment, terminates
shall be referred to herein as the “Termination Date” and Mr. Lifshatz’s employment with the
Company shall terminate without any further action on either party, on the Termination Date.

(v) Indemnification and Insurance. The Company agrees that during Mr. Lifshatz’s service
as Chief Financial Officer during the Transition Period, and as a Strategic Advisor during the
Post-Transition Period, he shall be treated as an “officer” for purposes of determining
availability of the indemnification provisions applicable to the Company under the Delaware
Corporation Law, its Second Amended and Restated Certificate of Incorporate and its Restated
By-Laws and with respect to the Company’s Director and Officers liability insurance, in each case
in relation to acts undertaken at the request of the Company on or before the end of the
Post-Transition Period.

2. Other Agreements. Mr. Lifshatz’s Employment Agreement dated as of February 11, 1997
is expressly terminated and superseded by this Agreement. Mr. Lifshatz’s Change of Control
Agreement dated as of November 2, 2006 is expressly terminated and superseded by this Agreement
effective as of the Transition Date.

3. Non-Disclosure, Non-Competition and Non-Solicitation Obligations.

	 	(a)	 	Mr. Lifshatz acknowledges and reaffirms his obligation, consistent with applicable
law, to keep confidential and not to disclose any and all non-public information
concerning the Company that he acquired during the course of his employment with the
Company, including, but not limited to, any non-public information concerning the
Company’s business affairs, business prospects and financial condition, as is stated more
fully in the Employee Non-Disclosure and Developments Agreement dated as of February 11,
1997 which he executed, which remains in full force and effect.

	 	(b)	 	Mr. Lifshatz further acknowledges and reaffirms his obligations under the
Non-Competition Agreement dated as of February 11, 1997 which he previously executed for
the benefit of the Company, which also remains in full force and effect, subject to the
following:

(i) The parties agree that the reference to restriction of “any business activity which
is directly or indirectly in competition ... with any of the products or services being
developed, marketed, distributed, planned, sold or otherwise provided by the Company at
such time” as set forth in the first sentence of Section 2 of the Non-Competition
Agreement apply solely to those entities or businesses listed in Attachment C hereto,
or their successors. This restriction on business activity may be waived by written
consent of the Company, which consent shall not be unreasonably withheld.

(ii) The parties agree that the reference to “the date of termination of your
employment by the Company” as set forth in Section 1 of the Non-Competition Agreement
shall mean the “Termination Date” as defined above.

(iii) A copy of the Non-Competition Agreement and a copy of the Employee Non-Disclosure
and Developments Agreement are attached hereto.

For the avoidance of doubt, Mr. Lifshatz confirms his understanding and agreement that the
obligations set forth in such agreements restrict him from participating, directly or indirectly,
alone or with others, in any activity (i) designed or intended to acquire more than a 3% interest
in the Company in a transaction that may result in a Change of Control in the Company, as such term
is defined in the Company’s Change of Control Plan or (ii) not known by the Board of Directors of
the Company that may result in a Change of Control in the Company, as such term is defined in the
Company’s Change of Control Plan.

4. Return of Company Property. Mr. Lifshatz confirms that, as of the Termination Date, he
will return to the Company all keys, files, records (and copies thereof), equipment other than
those items specified on Attachment B (including, but not limited to, computer hardware,
software and printers, wireless handheld devices, cellular phones, pagers, etc.), Company
identification, and any other Company-owned property in his possession or control, and that he will
leave intact all electronic Company documents, including, but not limited to, those which he
developed or helped develop during his employment. Mr. Lifshatz further confirms that he will have
cancelled, or ceased using, all accounts for his benefit, if any, in the Company’s name, including,
but not limited to, credit cards, telephone charge cards, cellular phone and computer accounts. On
or prior to the Termination Date, Mr. Lifshatz shall have submitted all outstanding expense reports
so that a final resolution of these expenses can be made within 30 days following the Termination
Date.

5. (a) Release of Claims. In consideration of the benefits provided for in this
Transition Agreement, which Mr. Lifshatz acknowledges he would not otherwise be entitled to
receive, Mr. Lifshatz hereby fully, forever, irrevocably and unconditionally releases, remises and
discharges the Company, its officers, directors, stockholders, corporate affiliates, subsidiaries,
parent companies, agents and employees (each in their individual and corporate capacities)
(hereinafter, the “Released Parties”) from any and all claims, charges, complaints, demands,
actions, causes of action, suits, rights, debts, sums of money, costs, accounts, reckonings,
covenants, contracts, agreements, promises, doings, omissions, damages, executions, obligations,
liabilities, and expenses (including attorneys’ fees and costs), of every kind and nature which he
ever had or now has against the Released Parties, including, but not limited to, any claims arising
out of his employment with and/or separation from the Company, including, but not limited to, all
employment discrimination claims under Title VII of the Civil Rights Act of 1964, 42 U.S.C. Sec.
2000e et seq., the Age Discrimination in Employment Act, 29 U.S.C. Sec. 621 et
seq., the Americans With Disabilities Act of 1990, 42 U.S.C. Sec. 12101 et
seq., the Family and Medical Leave Act, 29 U.S.C. Sec. 2601 et seq., the
Worker Adjustment and Retraining Notification Act (“WARN”), 29 U.S.C. Sec. 2101 et
seq., and the Rehabilitation Act of 1973, 29 U.S.C. Sec. 701 et seq., all
as amended; all claims arising out of the Fair Credit Reporting Act, 15 U.S.C. Sec. 1681 et
seq., the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. Sec. 1001
et seq., the Massachusetts Fair Employment Practices Act., M.G.L. c. 151B, Sec. 1
et seq., the Massachusetts Civil Rights Act, M.G.L. c. 12, Secs. 11H and 11I, the
Massachusetts Equal Rights Act, M.G.L. c. 93, Sec. 102 and M.G.L. c. 214, Sec. 1C, the
Massachusetts Labor and Industries Act, M.G.L. c. 149, Sec. 1 et seq., the
Massachusetts Privacy Act, M.G.L. c. 214, Sec. 1B, and the Massachusetts Maternity Leave Act ,
M.G.L. c. 149, Sec. 105(d), all as amended; all common law claims including, but not limited to,
actions in tort, defamation and breach of contract; all claims to any non-vested ownership interest
in the Company, contractual or otherwise, including, but not limited to, claims to stock or stock
options (except for those share/stock option rights and interests set forth in this Transition
Agreement); and any claim or damage arising out of his employment with or separation from the
Company (including a claim for retaliation) under any common law theory or any federal, state or
local statute or ordinance not expressly referenced above; provided, however, that nothing in this
Agreement prevents him from filing, cooperating with, or participating in any proceeding before the
EEOC or a state Fair Employment Practices Agency (except that Mr. Lifshatz acknowledges that he may
not be able to recover any monetary benefits in connection with any such claim, charge or
proceeding). Nothing herein shall bar actions or claims to enforce the terms of this Agreement.
Moreover, nothing herein shall be construed so as to limit or restrict any right of indemnification
or insurance available to Mr. Lifshatz in his officer and employee position.

(b) Acknowledgment. Mr. Lifshatz acknowledges that he has been given at least
twenty-one (21) days to consider this Transition Agreement, and that the Company advised him to
consult with an attorney of his own choosing prior to signing this Transition Agreement and
Attachment A. Mr. Lifshatz understands that he may revoke this Agreement for a period of seven (7)
days after he signs it, and that each agreement shall not be effective or enforceable until the
expiration of the applicable seven (7) day revocation period. Mr. Lifshatz understands and agrees
that by entering into this Agreement, he is waiving any and all rights or claims he might have
under The Age Discrimination in Employment Act, as amended by The Older Workers Benefit Protection
Act, and that he has received consideration beyond that to which he was previously entitled.

6. Non-Disparagement; Cooperation. Mr. Lifshatz understands and agrees that as a
condition for payment to him of the consideration herein described, he shall not make any false,
disparaging or derogatory statements to any person or entity, including any media outlet, industry
group, financial institution or current or former employee, consultant, client or customer of the
Company regarding the Company or any of its directors, officers, employees, agents or
representatives or about the Company’s business affairs and financial condition, except if
testifying truthfully under oath pursuant to a lawful court order or subpoena. The Company agrees
that it shall instruct in writing each director and officer of the Company who is privy to the
terms of this Agreement to not make any false, disparaging or derogatory statements in public or
private to any person inside or outside of the Company regarding Mr. Lifshatz or his employment
with the Company, except if testifying truthfully under oath pursuant to a lawful court order or
subpoena. The Company further agrees that it shall respond to any requests for reference from
prospective employers consistent with Company practice, providing only confirmation of employment,
dates of employment and positions held.

Mr. Lifshatz agrees to reasonably cooperate with the Company in the investigation, defense or
prosecution of any claims or actions now in existence or which may be brought in the future against
or on behalf of the Company. Mr. Lifshatz’s cooperation in connection with such claims or actions
shall include, but not be limited to, being reasonably available to meet with the Company’s counsel
to prepare for discovery or any mediation, arbitration, trial, administrative hearing or other
proceeding or to act as a witness when reasonably requested by the Company at mutually agreeable
times and at locations mutually convenient to him and the Company. Mr. Lifshatz also agrees to
cooperate with the Company in the transitioning of his work, and will be reasonably available to
the Company for this purpose or any other purpose reasonably requested by the Company. To the
extent such activities require more than 5 hours of Mr. Lifshatz’s time in a month, the Company
shall compensate him at the hourly consulting rate of $200.

7. Amendment. This Transition Agreement shall be binding upon the parties and may not be
modified in any manner, except by an instrument in writing of concurrent or subsequent date signed
by duly authorized representatives of the parties hereto. This Transition Agreement is binding upon
and shall inure to the benefit of the parties and their respective agents, assigns, heirs,
executors, successors and administrators.

8. No Waiver. No delay or omission by either party in exercising any right under this
Transition Agreement shall operate as a waiver of that or any other right. A waiver or consent
given by a party on any one occasion shall be effective only in that instance and shall not be
construed as a bar or waiver of any right on any other occasion.

9. Validity. Should any provision of this Transition Agreement be declared or be
determined by any court of competent jurisdiction to be illegal or invalid, the validity of the
remaining parts, terms or provisions shall not be affected thereby and said illegal and/or invalid
part, term or provision shall be deemed not to be a part of this Transition Agreement.

10. Voluntary Assent; Negotiation;. Mr. Lifshatz affirms that no other promises or
agreements of any kind have been made to or with him by any person or entity whatsoever to cause
him to sign this Transition Agreement, and that he fully understands the meaning and intent of this
agreement. Mr. Lifshatz states and represents that he has had an opportunity to fully discuss and
review the terms of this Transition Agreement with an attorney. Mr. Lifshatz further states and
represents that he has carefully read this Transition Agreement, including Attachments A, B and
C,hereto, understands the contents therein, freely and voluntarily assents to all of the terms and
conditions hereof, and signs his name of his own free act. Mr. Lifshatz further agrees that he and
his counsel have had input in the drafting of this Agreement and that the doctrine of contra
preferentum shall not apply.

11. Section 409A. No payments that may be made pursuant to this Agreement that constitute
“nonqualified deferred compensation” within the meaning of Section 409A of the Internal Revenue
Code and the guidance issued thereunder (“Section 409A”) may be accelerated or deferred by the
Company or Mr. Lifshatz. Notwithstanding anything else to the contrary in this Agreement, to the
extent that any of the payments to be made hereunder constitute “nonqualified deferred
compensation” within the meaning of Section 409A and Mr. Lifshatz is a “specified employee,” then
upon his termination (as defined under Section 409A), any such payment shall be delayed until the
date that is six months and one day following Mr. Lifshatz’s termination date if, absent such
delay, such payment would otherwise be subject to penalty under Section 409A. In any event, the
Company makes no representation or warranty and shall have no liability to Mr. Lifshatz or any
other person if any provisions of this Agreement are determined to constitute deferred compensation
subject to Section 409A but do not satisfy the conditions of such section.

12. Applicable Law. This Transition Agreement shall be interpreted and construed by the
laws of the Commonwealth of Massachusetts, without regard to conflict of laws provisions. The
parties hereby irrevocably submit to and acknowledge and recognize the jurisdiction of the courts
of the Commonwealth of Massachusetts, or if appropriate, a federal court located in Massachusetts
(which courts, for purposes of this Transition Agreement, are the only courts of competent
jurisdiction), over any suit, action or other proceeding arising out of, under or in
connection with this Transition Agreement or the subject matter hereof.

13. Entire Agreement. This Transition Agreement, together with Attachments A, B andC
contains and constitutes the entire understanding and agreement between the parties hereto and
cancels all previous oral and written negotiations, agreements, commitments and writings in
connection therewith. Nothing in this paragraph, however, shall modify, cancel or supersede Mr.
Lifshatz’s obligations set forth in paragraph 3 herein.

[Remainder of this page intentionally left blank.]

1

 
 

LIONBRIDGE TECHNOLOGIES, INC.                  Stephen J. Lifshatz

By: /s/Rory J. Cowan                                       /s/ Stephen J. Lifshatz

Name: Rory J. Cowan, CEO

 
 

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