Document:

Separation Letter Agreement

 Exhibit 10.1 
 September 9, 2011 
 Mr. Kenneth Denman 

 

	Re:	Separation Agreement 

 Dear Ken: 

This letter sets forth the substance of the separation agreement (the “Agreement”) that Openwave Systems, Inc. (the “Company”) is
offering to you to aid in your employment transition. 
 1. Separation Date; Resignation from Board of Directors. Your
last day of work with the Company and your employment termination date will be September 9, 2011 (the “Separation Date”). As a condition of this Agreement, you hereby resign from any and all positions which you hold on the
Company’s Board of Directors effective as of the Separation Date. 
 2. Accrued Salary and Vacation. On the
Separation Date, the Company will pay you all accrued salary, and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You are entitled to these payments regardless of whether
or not you sign this Agreement. 
 3. Severance Benefits. If you sign this Agreement and allow the releases contained
herein to become effective, then the Company will provide you with the following severance benefits: 
 (a) Severance
Payment. The Company will pay you, as severance, the amount of $450,000.00, subject to standard payroll deductions and withholdings (the “Severance Payment”). The Severance Payment is the equivalent of six (6) months of your base
salary in effect as of the Separation Date plus fifty (50) percent of your Corporate Incentive Plan annual target bonus in effect as of the Separation Date, less standard payroll deductions and withholdings. The Severance Payment will be paid
in one lump sum within thirty (30) days of the Separation Date, provided that you first sign this Agreement and allow the releases contained herein to become effective. 

 (b) Health Care Continuation Coverage. 

(i) COBRA. To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s
current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individual policy through the provider of the Company’s health
insurance, if you wish. 
 (ii) COBRA Premiums. If you timely elect continued coverage under COBRA, the Company will pay
your COBRA premiums necessary to continue your coverage (including coverage for eligible dependents, if applicable) (“COBRA Premiums”) through the period (the “COBRA Premium Period”) starting on the Separation Date and ending on
the earliest to occur of: (i) March 31, 2012; (ii) the date you and your eligible dependents, if applicable, become eligible for group health insurance coverage through a new employer; or (iii) the date you cease to be eligible
for COBRA continuation coverage for any reason, including plan termination. In the event you become covered under another employer’s group health plan or otherwise cease to be eligible for COBRA during the COBRA Premium Period, you must
immediately notify the Company of such event. 
 (iii) Special Cash Payments in Lieu of COBRA
Premiums. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without a substantial risk of violating applicable law (including, without limitation, Section 2716 of the
Public Health Service Act), the Company instead shall pay to you, on the first day of each calendar month, a fully taxable cash payment equal to the applicable COBRA premiums for that month (including premiums for you and your eligible dependents
who have elected and remain enrolled in such COBRA coverage), subject to applicable tax withholdings (such amount, the “Special Cash Payment”), for the remainder of the COBRA Premium Period. You may, but are not obligated to, use such
Special Cash Payments toward the cost of COBRA premiums. On the thirtieth (30th) day following the Separation Date, the Company will make the first payment to you under this paragraph, in a lump sum, equal to the aggregate Special Cash Payments that the Company would have paid
to you through such date had the Special Cash Payments commenced on the first day of the first month following the Separation Date through such thirtieth (30th) day, with the balance of the Special Cash Payments paid thereafter on the schedule described above. 

(iv) Effective Time. The Company’s obligation to pay COBRA Premiums/Special Cash Payments shall commence when you execute
this Agreement. 
 (c) Outplacement Services. You will be eligible to receive up to six (6) months of outplacement
assistance in the form determined by the Company offered through a third-party vendor selected by the Company (the “Outplacement Services”). The Company will pay the third-party vendor directly and you will not receive the cash equivalent
cost of the Outplacement Services should you choose not to use them. 
 4. Unemployment Benefits. As part of this
Agreement, the Company agrees not to oppose your claim for unemployment compensation benefits, which will be determined by the State of California. 

 5. Stock Options. You were granted certain options to purchase shares of the
Company’s common stock. Under the terms of the Plan governing these stock options, and your stock option grant documents, vesting of all such options will cease as of the Separation Date. However, in further consideration of this Agreement, and
notwithstanding any terms to the contrary in the governing stock option plan and grant documents, you will be entitled to exercise any options vested as of the Separation Date for a period of one (1) year following the Separation Date. You
acknowledge that the extension of the exercise period for such options may change the tax treatment associated with them and the Company makes no representations or warranties as to the applicable tax treatment. 

6. Other Compensation or Benefits. You acknowledge that, except as expressly provided in this Agreement, you are not entitled to
receive, and will not receive, any additional compensation, severance or benefits after the Separation Date, including without limitation any severance benefits specified in your November 12, 2008 Change of Control Severance Agreement. You
acknowledge and agree that the severance benefits set forth herein are in full satisfaction of any benefits that may be owed to you pursuant to your November 4, 2008 offer letter agreement with the Company and the Company’s Executive
Severance Benefit Policy. 
 7. Expense Reimbursements. You agree that, within ten (10) days of the Separation Date,
you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for which you seek reimbursement. The Company will reimburse you for these expenses pursuant to
its regular business practice. 
 8. Return of Company Property. Within ten (10) days after the Separation Date, you
agree to return to the Company all Company documents (and all copies thereof) and other Company property that you have had in your possession at any time, including, but not limited to, Company files, notes, drawings, records, business plans and
forecasts, financial information, specifications, computer-recorded information, tangible property (including, but not limited to, computers), credit cards, entry cards, identification badges and keys; and, any materials of any kind that contain or
embody any proprietary or confidential information of the Company (and all reproductions thereof). 
 9. Confidential
Information Obligations. Both during and after your employment you acknowledge your continuing obligations under your Confidential Information and Inventions Assignment Agreement, including your obligations not to use or disclose any
confidential or proprietary information of the Company. You also agree that within ten (10) days after the Separation Date, you will sign and deliver to the Company the “Termination Certification” attached as Exhibit B to your
Confidential Information and Inventions Assignment Agreement. 
 10. Nondisparagement. You agree not to disparage the
Company or the Company’s officers, directors, employees, shareholders, parents, subsidiaries, affiliates, and agents, in any manner likely to be harmful to them or their business, business reputation or personal reputation; provided that
you may respond accurately and fully to any question, inquiry or request for information when required by legal process. 

 11. Release of Claims. In exchange for the Severance Payment, COBRA Premiums/Special
Cash Payments, Outplacement Services, extension of your option exercise period, and other consideration provided to you by this Agreement, you hereby generally and completely release Openwave Systems, Inc. and its current and former directors,
officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns from any and all claims, liabilities and obligations, both known and unknown, that arise out
of or are in any way related to events, acts, conduct, or omissions occurring prior to your signing this Agreement. This general release includes, but is not limited to: (1) all claims arising out of or in any way related to your employment
with the Company, or the termination of that employment; (2) all claims related to your compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits,
stock, stock options, or any other ownership interests in the Company; (3) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including claims
for fraud, defamation, emotional distress, and discharge in violation of public policy; and (5) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims
arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), and the California Fair Employment and
Housing Act (as amended). 
 12. ADEA Waiver. You acknowledge that you are knowingly and voluntarily waiving and
releasing any rights you may have under the ADEA (“ADEA Waiver”). You also acknowledge that the consideration given for the ADEA Waiver is in addition to anything of value to which you were already entitled. You further acknowledge that
you have been advised by this writing, as required by the ADEA, that: (a) your ADEA Waiver does not apply to any rights or claims that arise after the date you sign this Agreement; (b) you should consult with an attorney prior to signing
this Agreement; (c) you have twenty-one (21) days to consider this Agreement (although you may choose to voluntarily sign it sooner); (d) you have seven (7) days following the date you sign this Agreement to revoke the ADEA
Waiver, with such revocation to be effective only if you deliver written notice of revocation to the Company within the seven (7)-day period; and (e) the ADEA Waiver will not be effective until the date upon which the revocation period has
expired unexercised, which will be the eighth day after you sign this Agreement. Nevertheless, your general release of claims, except for the ADEA Waiver, is effective immediately, and not revocable. 

13. Section 1542 Waiver. YOU UNDERSTAND THAT THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. In giving the
release herein, which includes claims which may be unknown to you at present, you acknowledge that you have read and understand Section 1542 of the California Civil Code, which reads as follows: 

“A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time
of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” 

 You hereby expressly waive and relinquish all rights and benefits under that section and any law of any
other jurisdiction of similar effect with respect to your release of any unknown or unsuspected claims herein. 
 14.
Exceptions. Notwithstanding the foregoing, you are not releasing any claim that cannot be waived under applicable state or federal law. You are not releasing any rights that you have to be indemnified (including any right to reimbursement of
expenses) arising under applicable law, the certificate of incorporation or by-laws (or similar constituent documents of the Company), any indemnification agreement between you and the Company, or any directors’ and officers’ liability
insurance policy of the Company. Nothing in this Agreement shall prevent you from filing, cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or the California Department
of Fair Employment and Housing, except that you acknowledge and agree that you shall not recover any monetary benefits in connection with any such claim, charge or proceeding with regard to any claim released herein. Nothing in this Agreement shall
prevent you from challenging the validity of the release in a legal or administrative proceeding. 
 15. Representations.
You hereby represent that you have been paid all compensation owed and for all hours worked, have received all the leave and leave benefits and protections for which you are eligible, pursuant to the Family and Medical Leave Act or otherwise, and
have not suffered any on-the-job injury for which you have not already filed a claim. 
 16. General. This Agreement
including Exhibit A, constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to this subject matter. It is entered into without reliance on any promise or representation, written or
oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations. This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the
Company. This Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns. If any provision of this Agreement
is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and the provision in question will be modified by the court so as to be rendered enforceable to the fullest
extent permitted by law, consistent with the intent of the parties. This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of the State of California as applied to contracts made and to
be performed entirely within California. 
 If this Agreement is acceptable to you, please sign below and return the original to me. 

I wish you good luck in your future endeavors. 

Sincerely, 
 Openwave Systems, Inc. 

By: 
 Charles Levine 

Chairman of the Board 

 Exhibit A - Confidential Information and Inventions Assignment Agreement 

Agreed: 
 Kenneth Denman /s/ 

Kenneth Denman 
 September 9, 2011 
 DateEmployment Offer letter

 Exhibit 10.2 
 

 
  

					
		  		  	 2100 Seaport Boulevard
 Redwood City, California
 94063 USA

 
 Tel: 1 650 480 8000
 Fax: 1 650 480 8100

 October 3, 2011 
 Mr. Michael Mulica 
 Re: Offer of Employment 

Dear Mike: 
 We are extremely pleased to offer
you this opportunity to join Openwave Systems Inc. (“Openwave” or “the Company”) in the position of President and Chief Executive Officer. You will report to the Openwave Board of Directors (the “Board”) and you will be
based in Openwave’s Redwood City location. The following terms and conditions of this agreement (the “Agreement”) shall apply to your anticipated employment with Openwave. This offer is contingent upon the positive confirmation of the
information you have provided in your resume, and a successful background check. 
 Commencement of Employment with Company 

Your employment will commence on or before October 10, 2011. You shall devote your full working time and efforts to the business and affairs of the
Company. Notwithstanding the foregoing, you may serve on other boards of directors with the prior approval of the Board, or engage in religious, charitable trade association or other community activities as long as such activities are disclosed to
and approved by the Board and do not materially interfere with the performance of your duties to the Company as provided in the Agreement. You will be based at our Redwood City headquarters from where you will be expected to work. Subject to the
commencement of your employment as President and Chief Executive Officer of the Company, you will be offered a seat on the Board of Directors of the Company. You agree that, by acceptance of this offer, on the date of termination of your position as
Chief Executive Officer, you will resign your position as a member of the Board effective on such date. 
  

	1.	Base Compensation. 

 Your annual base
salary will be $400,000. You will be paid semi-monthly on the 15th and the last working day of each month. 
 Incentive Compensation

 You will be eligible for a bi-annual incentive cash award from the Company under the Company’s Corporate Incentive Plan
(“CIP”), based upon a target for each six month period which shall be 100% of your base salary actually earned for the six month performance period; provided, however, that you shall receive a one time guaranteed, pro-rated bonus of
$100,000, with no opportunity for overachievement per the plan terms, for the remainder of this calendar year, in lieu of any bonus under the CIP. 

 

 
  

					
		 		  	 2100 Seaport Boulevard

Redwood City, California
 94063
USA
  
 Tel: 1 650 480 8000

Fax: 1 650 480 8100

  

 
Under the term of the CIP, your actual annual incentive cash award may be below, at, or above target (up to a maximum of 150% of your target, as pro-rated if applicable) and shall be determined
based upon the Company’s achievement level against Company financial and performance objectives. The terms of the CIP, including the financial and performance objectives for the Company, shall be established for each performance period by the
Compensation Committee in consultation with the Board of Directors of the Company. 
 Equity Awards. 

Subject to the approval of the Compensation Committee of the Board of Directors of Openwave at its first meeting (the 15th of the month following the month of your employment commencement
date), you will be granted an option to purchase Openwave Common Stock. 
 You may advise the Compensation Committee of your preference to
receive either of the following option grants, which grant shall be subject to the approval of the Compensation Committee of the Board of Directors of Openwave at its first meeting: 
 1,500,000 shares of Common Stock with an exercise price equal to the fair market value of the Company common stock on the date of grant (which shall be determined in accordance with the terms of
Openwave’s 2006 Stock Incentive Plan), The vesting commencement date will be your employment commencement date. The options will vest with a one year cliff and monthly thereafter over a period of four years contingent upon continued employment
on the applicable vesting date, subject to the terms of the Company’s policies and standard form of agreements. 
 Insurance Plans.

 You are also eligible to participate in our comprehensive employee benefit programs. You understand and agree that, subject to applicable law,
the Company reserves the right to unilaterally revise the terms of the employee benefit programs. 
 At Will Employment. 

You should be aware that your employment with Company is for no specified period and constitutes “at will” employment. As a result, you, and/or
the Company, each have the right to terminate the employment relationship at any time for any reason, with or without cause. This is the full and complete agreement between you and the Company regarding this term. Although the Company’s
personnel policies and procedures may change from time to time, the “at will” nature of your employment may only be changed in a written amendment to this Agreement signed by you and an authorized officer of the Company and authorized
member of the Board. 

 

 
  

					
		 		  	 2100 Seaport Boulevard

Redwood City, California
 94063
USA
  
 Tel: 1 650 480 8000

Fax: 1 650 480 8100

  

 US Work Authorization. 
 Your employment will commence on or before October 10, 2011 or on the first available date following your providing to Company proof of your eligibility to work in the United States. 

Severance. 
 If your employment is
terminated by the Company other than for Cause as defined in Addendum E, you shall be eligible to receive the severance and benefits described in the Company’s Executive Severance Benefit Policy pursuant to the terms of that policy and as
consistent with applicable law, provided that you are in compliance with your obligations under this Agreement and the other agreements you may have with the Company. The severance amount for you shall be twelve (12) months of base salary. This
paragraph and your participation in the Company’s Executive Severance Benefit Policy do not change or alter the “at will” nature of your employment relationship with the Company. Additionally, if your employment is terminated without
Cause, your unvested new hire options will be accelerated as follows: if the stock price on your termination date is at least a 25% increase above your grant price, 50% of your unvested new hire grant options will accelerate. If the Company stock
price on your termination date is at least a 50% increase above your grant price, 100% of your unvested new hire grant options will be accelerated. Additionally, you will have 12 months post termination date to exercise your options. 

 

	11.	Components of Agreement. 

 Incorporated
into this Agreement by reference are the following addendums (“Addendums”) and their attachments, each of which is a component of the Agreement. 
 Addendum A- Employment Requirements 
 Addendum B- Confidential Information and
Inventions Assignment Agreement 
 Addendum C- Insider Trading Policy 

Addendum D- Code of Conduct and Ethics 
 Addendum E- Definitions of Involuntary Termination and Cause 
 Addendum F- Change
of Control Severance Agreement 
 Section 409A. 
 You and the Company intend that income provided to you pursuant to this Agreement will not be subject to taxation under Section 409A of the Internal Revenue Code (“Section 409A”), and the
provisions of this Agreement shall be interpreted and construed in favor of satisfying any applicable requirements of Section 409A. The Company does not, however, guarantee any particular tax effect for income provided to you pursuant to this
Agreement, and except for its obligation to withhold applicable income and employment taxes from compensation paid or provided to you, the Company shall not be responsible for the payment of any applicable taxes incurred by you on compensation paid
or provided to you pursuant to this Agreement. In the event that any compensation to be paid or provided to you pursuant to 

 

 
  

					
		 		  	 2100 Seaport Boulevard

Redwood City, California
 94063
USA
  
 Tel: 1 650 480 8000

Fax: 1 650 480 8100

  

 this Agreement may be subject to the excise tax described in Section 409A, the Company may delay
such payment for the minimum period required in order to avoid the imposition of such excise tax. 
 Entire Agreement/Modification.

 This Agreement, the Addendums, and any stock option agreements between you and the Company, constitute the entire agreement between you and
the Company concerning our employment relationship, and they supersede all prior negotiations, representations, and agreements regarding that subject. This Agreement cannot be modified or amended except by a subsequent written amendment signed by
you and an authorized officer of the Company. 
 Please review these terms to make sure they are consistent with your understanding. Please sign
one copy and return, no later than September 30, 2011. Your acceptance of this Agreement represents a unique opportunity for both you and Company to grow and to succeed. We thank you for the commitment you have made to our common vision and
look forward to working with you. 
  

	
	 Sincerely,

	
	 /s/ Robin Abrams

	 Robin Abrams

Chair, Nominating and Corporate Governance Committee

 I accept the offer of employment and terms stated in this Offer Letter and accompanying Addendums and attachments.

  

									
	 Accepted:
	 	 /s/ Michael Mulica
	 	Date:	 	10/6/11	 	
		 	Michael Mulica

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