Document:

exv10w1

 

Exhibit 10.1

FAMOUS DAVE’S OF AMERICA, INC.

PERFORMANCE SHARE AGREEMENT

(2008-2010 Awards)

PERFORMANCE SHARE AGREEMENT (the “Agreement”) made effective as of December 31, 2007 by and between
Famous Dave’s of America, Inc., a Minnesota corporation, having a place of business at 12701
Whitewater Drive, Suite 200, Minnetonka, MN 55343 (the “Company”), and                      (“Employee”).

WITNESSETH:

WHEREAS, the Company has adopted the Famous Dave’s of America, Inc. 2005 Stock Incentive Plan
(the “Plan”) to increase shareholder value and to advance the interests of the Company by
furnishing a variety of economic incentives designed to attract, retain and motivate employees; and

WHEREAS, the Compensation Committee of the Board of Directors of the Company (the “Committee”)
believes that entering into this Agreement with Employee is consistent with the stated purposes for
which the Plan was adopted.

NOW, THEREFORE, it is agreed as follows:

1. Grant of Stock. 

     Subject to the terms and provisions of this Agreement and the Plan, the Company hereby
grants to Employee an award to be paid in shares of the Company’s common stock, $.01 par value
per share (the “Performance Shares”), on the Vesting Date identified in Exhibit A attached
hereto. The number of Performance Shares granted pursuant to this award is set forth in Exhibit
A and issuance by the Company of such Performance Shares (i) is contingent upon the Company
achieving the performance objectives set forth in Exhibit A; and (ii) is subject to the other
terms and conditions and contingencies set forth in such Exhibit and in the Plan.

2. Rights of Employee.

Employee shall not have any of the rights of a shareholder with respect to the Performance
Shares except to the extent that such Performance Shares are issued to Employee in accordance
with the terms and conditions of this Agreement and the Plan.

3. The Plan.

The Performance Share award is granted pursuant to the Plan (including without limitation
Section 6 — for 2005 Plan thereof) and is governed by the terms thereof, which are incorporated
herein by reference. In the event of any conflict or inconsistency between the provisions of
this Agreement and those of the Plan, the provisions of the Plan shall govern and control.

4. Administration.

This Agreement shall at all times be subject to the terms and conditions of the Plan. The
Committee shall have the sole and complete discretion with respect to all matters reserved to it
by the Plan and decisions of the Committee with respect thereto and to this Agreement shall be
final and binding upon Employee. In the event of any conflict between the terms and conditions
of this Agreement and the Plan, the provisions of the Plan shall govern and control.

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5. Continuation of Employment or Right to Corporate Assets.

Nothing contained in this Agreement shall be deemed to grant Employee any right to continue in
the employ of the Company for any period of time or to any right to continue his or her present
or any other rate of compensation, nor shall this Agreement be construed as giving Employee,
Employee’s beneficiaries or any other person any equity or interests of any kind in the assets
of the Company or creating a trust of any kind or a fiduciary relationship of any kind between
the Company and any such person.

6. Further Assurances.

     Each party hereto agrees to execute such further papers, agreements, assignments or
documents of title as may be necessary or desirable to affect the purposes of this Agreement and
carry out its provisions.

7. Governing Law.

This Agreement, in its interpretation and effect, shall be governed by the laws of the State of
Minnesota applicable to contracts executed and to be performed therein.

8. Entire Agreement; Amendments.

This Agreement and the Plan embody the entire agreement made between the parties hereto with
respect to the matters covered herein and shall not be modified except by a writing signed by
the party to be charged.

9. Counterparts.

This Agreement may be executed in any number of counterparts, each of which shall be deemed an
original, but all of which shall constitute but one and the same agreement.

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed as of the date first
written above.

	 	 	 	 	 
	 	 	FAMOUS DAVE’S OF AMERICA, INC.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 

	 	 	 
	 
	 	 
	 

	 	 
	                    , Employee
	 	 

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Exhibit A

to

Performance Share Agreement

(2008-2010 Awards)

Additional Terms and Conditions of Performance Shares

	 	 	 	 	 
	 	 	 	 	Total No. of Shares
	 	 	Target Shares*	 	Underlying Grant**
	Number of Performance
Shares subject to the
Agreement:
	 	 	 	 

 

			
	*	 	Assumes the Company achieves 100% of the Cumulative EPS Goal (as defined below).

	 
	**	 	Assumes the Company achieves 150% of the Cumulative EPS Goal (as defined below).

	•	 	Grants of Performance Shares are contingent upon:

	 	(i)	 	Employee remaining an employee of the Company during all periods prior to the
“Vesting Date” (as defined below); and

	 
	 	(ii)	 	the Company achieving at least the applicable percentage of the cumulative
total of the earnings per share goals (as discussed below) for each of fiscal 2008,
fiscal 2009 and fiscal 2010 (the “Cumulative EPS Goal”).

	 
	 	 	 	Employee shall be entitled to receive the percentage of the “Target Shares” amount
set forth above based on the percentage of the Cumulative EPS Goal achieved by the
Company, as set forth on the following schedule:

	 	 	 
	Percentage of	 	Percent of Performance Shares
	Cumulative EPS Goal	 	to which Participant is Entitled
	 
	If the Company fails to
achieve at least 80% of the
Cumulative EPS Goal, then:

	 	Employee shall not be entitled to receive
Performance Shares pursuant to this
Agreement.
	 
	 	 
	If the Company achieves
80-100% of the Cumulative EPS
Goal, then:

	 	Employee shall be entitled to receive a
percentage of the “Target Shares” amount
equal to the percentage of the Cumulative
EPS Goal achieved (e.g., if the Company
achieves 90% of the Cumulative EPS Goal,
then Employee is entitled to receive 90%
of his or her “Target Shares” amount).
	 
	 	 
	If the Company achieves
100-150% of the Cumulative EPS
Goal, then:

	 	Employee shall be entitled to receive 100%
of his or her “Target Shares” amount, plus
an additional percentage of such “Target
Shares” amount equal to twice the
incremental percentage increase in the
Cumulative EPS Goal achieved over 100%
(e.g., if the Company achieves 120% of the
Cumulative EPS Goal, then Employee is
entitled to receive 140% of his or her
“Target Share” amount).

A - 1

 

	 	 	 
	 	 	LTI
	EPS Performance	 	Payout
	 
	80.0%
	 	80.0%
	 
	85.0%
	 	85.0%
	90.0%
	 	90.0%
	95.0%
	 	95.0%
	 
	100.0%
	 	100.0%
	 
	102.5%
	 	105.0%
	105.0%
	 	110.0%
	107.5%
	 	115.0%
	110.0%
	 	120.0%
	112.5%
	 	125.0%
	115.0%
	 	130.0%
	117.5%
	 	135.0%
	120.0%
	 	140.0%
	122.5%
	 	145.0%
	 
	125.0%
	 	150.0%
	 
	127.5%
	 	155.0%
	130.0%
	 	160.0%
	132.5%
	 	165.0%
	135.0%
	 	170.0%
	137.5%
	 	175.0%
	140.0%
	 	180.0%
	142.5%
	 	185.0%
	145.0%
	 	190.0%
	147.5%
	 	195.0%
	 
	150.0%
	 	200.0%
	 

If these conditions are satisfied, the Company shall issue the Performance Shares to Employee as
soon as reasonably practicable following the Vesting Date (as defined below).

• The earnings per share goal for each fiscal year will be determined by the Committee
during the 1st fiscal quarter of the applicable fiscal year, or earlier, as
determined by the Committee. Following the Committee’s determination of the earnings per share
goal for each fiscal year subject to the Agreement, the Company shall deliver written notice of
such earnings per share goal to Employee (unless Employee is no longer of an employee of the
Company).

• The actual earnings per share for each fiscal year shall be based on the fully diluted
earnings per share amount for such fiscal year that is set forth in the audited financial
statements filed with the Company’s corresponding Annual Report on Form 10-K. The determination
regarding whether the Company has achieved the cumulative total of the earnings per share goals
for fiscal 2008, fiscal 2009 and fiscal 2010 will be made upon filing of the Annual Report on
Form 10-K for fiscal 2010 (the “Vesting Date”). Performance Shares will be issued, as provided
above, if at least 80% of the Cumulative EPS Goal is achieved. No partial issuance of
Performance Shares shall be made if an earnings per share goal is achieved in any one or more
fiscal years but at least 80% of the Cumulative EPS Goal is not achieved.

	 	 	 	 	 
	 	 	FAMOUS DAVE’S OF AMERICA, INC.
	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 

	 	 	 
	 
	 	 
	 

	 	 
	                    , Employeeexv10w2

 

Exhibit 10.2

Schedule of Grants Made Under Form of 2008-2010 Performance Share Agreement

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Total No. of Shares
	Name	 	Title	 	Target Shares*	 	Underlying Grant**
	Diana Purcel
	 	Chief Financial Officer and Secretary	 	 	8,700	 	 	 	17,400	 
	 
	 	 	 	 	 	 	 	 	 	 
	Christopher O’Donnell
	 	Chief Operating Officer	 	 	7,300	 	 	 	14,600	 
	 
	 	 	 	 	 	 	 	 	 	 
	Additional Employees
	 	 	 	 	43,900	 	 	 	87,800	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Total
	 	 	 	 	59,900	 	 	 	119,800exv10w1

 

Exhibit 10.1

SEPARATION AGREEMENT

     THIS SEPARATION AGREEMENT (this “Agreement”) is made and entered into by and between Thomas
Schlick (“Employee”) and XATA Corporation (the “Company”).

BACKGROUND

     A. Employee has been employed by the Company since March 23, 2006, and is currently employed
by the Company as its Executive Vice President of Services.

     B. The Company and Employee entered into a Confidentiality, Invention and Non-Compete
Agreement, dated March 23, 2006 (the “Confidentiality Agreement”).

     C. The Company and Employee entered into a Restricted Stock Award Agreement dated April 10,
2006 (the “2002 Restricted Stock Agreement”), pursuant to which the Company granted Employee an
award under the Company’s 2002 Long-Term Incentive and Stock Option Plan (the “2002 Plan”) in the
form of shares of restricted stock (the “2002 Restricted Shares”).

     D. The Company and Employee entered into a Restricted Stock Award Agreement dated January 5,
2007 (the “2007 Restricted Stock Agreement”), pursuant to which the Company granted Employee an
award under the 2002 Plan in the form of shares of restricted stock (the “2007 Restricted Shares”).

     E. The Company has decided to terminate Employee’s employment without cause effective January
31, 2008.

     F. The Company and Employee are concluding their employment relationship amicably, but
mutually recognize that such a relationship may give rise to potential claims or liabilities.

     G. The parties desire to resolve all issues now in dispute between them and have agreed to a
full settlement of such issues.

 

 

     NOW THEREFORE, in consideration of the mutual promises and provisions contained in this
Agreement and the Release referred to below, the parties, intending to be legally bound, agree as
follows:

AGREEMENT

     1. Termination of Employment. Employee’s employment with the Company will terminate
effective January 31, 2008 (the “Termination Date”).

     2. Employee Release. At the same time that Employee executes this Agreement, he shall
execute a Release in the form attached to this Agreement as Exhibit A (the “Release”), in favor of
the Company and its affiliates, divisions, committees, directors, officers, employees, agents,
predecessors, successors and assigns. This Agreement will not be interpreted or construed to
limit the Release in any manner. The existence of any dispute respecting the interpretation of
this Agreement or the alleged breach of this Agreement will not nullify or otherwise affect the
validity or enforceability of the Release.

     3. Severance Benefits. Provided Employee signs this Agreement and the Release, does
not rescind this Agreement or the Release within the rescission period set forth in paragraph 11
below (the “Rescission Period”), and does not breach his obligations pursuant to this Agreement,
the Release, or the Confidentiality Agreement, Employee shall receive the following benefits
(collectively, the “Severance Benefits”):

	 	(a)	 	Severance Pay. The Company will pay Employee total
severance pay in the amount of $200,000.00, which is equivalent to one year of
Employee’s base salary, less applicable deductions and withholdings, to be paid
to Employee biweekly in twenty-six (26) substantially equal payments, beginning
on or about the first regularly scheduled payday after the

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	 	 	 	expiration of the Rescission Period and in no event later than March 15, 2009.
	 
	 	(b)	 	Continued Benefits. If Employee is eligible for and
properly elects to continue Employee’s health benefits, as in place immediately
prior to the Termination Date, the Company shall continue to pay the Company’s
portion of any such premiums or costs of coverage as if Employee were still
employed by the Company (on a benefit by benefit basis) for twelve (12) months
after the Termination Date, or until Employee is eligible for such coverage
through another employer, whichever is earlier. All such Company-provided
health benefits premiums shall be paid directly to the insurance carrier(s) by
the Company and Employee shall make arrangements with the Company to pay the
Employee’s portion of such coverage.
	 
	 	(c)	 	Outplacement Services. Outplacement services up to
$10,000.00 in value will be made available to Employee through a provider of
the Company’s choice. These outplacement services must be used by Employee
within the first six (6) months following the Termination Date. The Company
shall pay the outplacement services provider directly for any services utilized
by Employee pursuant to this paragraph 3(c).
	 
	 	(d)	 	Computer. Executive shall be allowed to keep his
Company-issued personal computer provided the Company first inspects the
computer and determines that all confidential and proprietary Company
information has

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	 	 	 	been deleted and Employee has not otherwise retained such information after
the Termination Date.

The Company shall deduct from any payments made to Employee hereunder any withholding or other
taxes which the Company is required or authorized to deduct, if any, under applicable law.

     4. Restricted Shares. All vesting or exercise rights, limitations, restrictions or
other terms or conditions related to Employee’s 2002 Restricted Shares or 2007 Restricted Shares
shall remain subject to and governed by the 2002 Restricted Share Agreement, the 2007 Restricted
Share Agreement and the 2002 Plan, as applicable.

     5. Other Benefits. Whether or not Employee signs this Agreement and the Release, he
will be paid all accrued paid time off that he has not used as of the Termination Date. Such
payment will be included in Employee’s final paycheck. Employee will retain any and all rights
that he may have to his retirement benefits from the Company’s retirement benefits plans according
to the terms and conditions of said retirement benefit plans.

     6. Mutual Non-disparagement. Employee will not disparage the reputation, character,
image, products, or services of the Company, or the reputation or character of the Company’s
employees, directors or officers. The Company will not authorize or encourage any employee of the
Company to disparage Employee’s reputation or character. Nothing in this paragraph 6 shall be
construed to limit or restrict either party from taking any action that either party in good faith
reasonably believes is necessary to fulfill his or its fiduciary obligations to the Company, or
from providing truthful information in connection with any legal proceeding, investigation or other
legal matter.

     7. Future References. It is Employee’s responsibility to direct or cause to be
directed all future official requests for references concerning him to Diane Hendricks, who will

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respond to such requests by confirming the dates of Employee’s employment with the Company,
identifying the positions he held, and at his request, confirming Employee’s base salary as of the
Termination Date.

     8. Records, Documents, and Property. Employee acknowledges and represents that he has
delivered or will deliver to the Company on or before the Termination Date any and all Company
records and any and all Company property in his possession or under his control, including without
limitation, manuals, books, blank forms, documents, letters, memoranda, notes, notebooks, reports,
printouts, computer disks, computer tapes, data, tables, or calculations and all copies thereof,
documents that in whole or in part contain any trade secrets or confidential, proprietary, or other
secret information of the Company and all copies thereof, and keys, access cards, access codes,
source codes, passwords, credit cards, personal computers, telephones, and other electronic
equipment belonging to the Company.

     9. No Other Remuneration. Employee agrees that he is not entitled to any remuneration
from the Company except as provided in this Agreement. This includes back pay, sick pay, vacation
pay, bonuses, separation pay or any other compensation.

     10. Time to Consider Agreement. Employee understands that he may take twenty-one (21)
calendar days to decide whether to sign this Agreement and the Release, which 21-day period will
start on the day after the date on which Employee first received copies of this Agreement and the
Release for review. Employee represents that if he signs this Agreement and the Release before the
expiration of the 21-day period, it is because he has decided that he does not need any additional
time to decide whether to sign this Agreement and the Release. Employee also acknowledges that any
changes made to this Agreement or the Release before he

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executes either of them, whether such changes are material or immaterial, will not cause the
21-day period to commence again.

     11. Rescission Notice. Within fifteen (15) calendar days after signing this Agreement
and the Release, Employee has the right to rescind this Agreement and the Release. To be
effective, the rescission must be in writing and delivered to the Company at the following address:

XATA Corporation

151 East Cliff Road, Suite 10

Burnsville, MN 55337

Attention: Diane Hendricks

     If delivered by mail, the rescission must be:

	 	(a)	 	Postmarked within the 15-day period;
	 
	 	(b)	 	Properly addressed to the Company at the address stated above; and
	 
	 	(c)	 	Sent by certified mail, return receipt requested.

Employee understands that this Agreement will not become effective or enforceable unless and until
he has signed and not rescinded this Agreement or the Release and the rescission period has
expired.

     12. No Admission of Liability by The Company. Employee acknowledges that the
Company’s payment of consideration for this Agreement is not to be construed as an admission of any
liability on the part of the Company or any officer, director, shareholder or employee of the
Company. Such liability is expressly denied by the Company, on behalf of itself and its officers,
directors, shareholders and employees.

     13. Confidentiality. The terms of this Agreement and the Release will be treated as
forever confidential by Employee and will not be disclosed by him to anyone except his spouse,

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attorney, accountant, or tax advisor, or except as may be required by law or to enforce this
Agreement or Release or as agreed to in writing by the Company.

     14. Voluntary Agreement. Employee is entering into this Agreement and Release
voluntarily. Employee acknowledges that he has been advised by the Company to consult with his own
attorney before executing this Agreement and the Release, that he has had a full opportunity to
consider this Agreement and the Release, that he has had a full opportunity to ask any questions
that he may have concerning this Agreement, the Release, or the settlement of his potential claims
against the Company, and that he has not relied upon any statements or representations made by the
Company or its attorneys, written or oral, other than the statements and representations that are
explicitly set forth in this Agreement, the Release, the Confidentiality Agreement, the 2002
Restricted Stock Agreement, the 2007 Restricted Stock Agreement and any qualified employee benefit
plans sponsored by the Company in which Employee is a participant.

     15. Other Agreements. Employee acknowledges and agrees that nothing in this Agreement
affects his obligations or rights under the Confidentiality Agreement, the 2002 Restricted Stock
Agreement or the 2007 Restricted Stock Agreement. Employee acknowledges and affirms his continuing
obligation to comply with the terms and conditions of the Confidentiality Agreement. The
Confidentiality Agreement, the 2002 Restricted Stock Agreement, the 2007 Restricted Stock Agreement
and this Agreement make up all of the agreements between Employee and the Company. There are no
oral agreements between them, and Employee has not relied upon anything other than those written
agreements in deciding to sign this Agreement.

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     16. Assignment. This Agreement is binding on Employee and on the Company and its
successors and assigns. The rights and obligations of the Company under this Agreement may be
assigned to a successor, including, but not limited to a purchaser of substantially all the
business or assets of the Company. No rights or obligations of Employee hereunder may be assigned
by Employee to any other person on entity.

     17. Invalidity. In the event that any provision of this Agreement is determined by a
court of competent jurisdiction to be invalid, illegal, or unenforceable in any respect, such a
determination will not affect the validity, legality, or enforceability of the remaining provisions
of this Agreement and the remaining provisions of this Agreement will continue to be valid and
enforceable, and any court of competent jurisdiction may modify the objectionable provision so as
to make it valid and enforceable.

     18. Headings. The descriptive headings of the paragraphs and subparagraphs of this
Agreement are inserted for convenience only and do not constitute a part of this Agreement.

     19. Counterparts. This Agreement may be executed simultaneously in two or more
counterparts, each of which will be deemed an original, but all of which together will constitute
one and the same instrument.

     20. Governing Law; Jurisdiction and Venue. This Agreement shall be construed and
enforced in accordance with the laws of the State of Minnesota. Employee and the Company consent
to jurisdiction of the courts of the State of Minnesota and/or the federal district courts in
Minnesota, for the purpose of resolving all issues of law, equity, or fact, arising out of or in
connection with this Agreement. Any action involving claims of a breach of this Agreement shall be
brought in such courts. Each party consents to personal jurisdiction over

8

 

such party in the state and/or federal courts of
Minnesota and hereby waives any defense of lack of personal jurisdiction.

     21. Interpretation. This Agreement is intended to provide for Severance Benefits that
are not deferred compensation subject to the requirements of Section 409A(a)(2), (3), or (4) of the
Code. To the extent any Severance Benefits under this Agreement are made in accordance with this
Agreement and are subject to the requirements of Section 409A(a)(2), (3), or (4) of the Code, this
Agreement is intended to satisfy such requirements, including current and future guidance and
regulations interpreting such provisions, and should be interpreted accordingly.

     22. Authority. The parties to this Agreement, by their signature below, warrant that
they have signed this agreement of their own free will, and that the person executing the Agreement
has been expressly authorized to enter into this Agreement.

	 	 	 	 	 	 	 
	Dated: January 16, 2008	 	/s/ Thomas Schlick	 	 
	 	 	 	 	 
	 	 	Thomas Schlick	 	 
	 
	 	 	 	 	 	 
	Dated: January 16, 2008	 	/s/ Jay Coughlan	 	 
	 	 	 	 	 
	 	 	XATA Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Jay Coughlan
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Its:
	 	CEO	 	 

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EXHIBIT A

EMPLOYEE RELEASE

Definitions. I intend all words used in this Release to have their plain meanings in
ordinary English. Specific terms that I use in this Release have the following meanings:

	 	A.	 	I, me, and my include both me and anyone who has or
obtains any legal rights or claims through me.
	 
	 	B.	 	XATA means XATA Corporation, any company related to XATA Corporation in
the present or past (including without limitation, its predecessors, parents,
subsidiaries, affiliates, joint venture partners, and divisions), and any successors of
XATA Corporation.
	 
	 	C.	 	Company means XATA; the present and past officers, directors,
committees, shareholders, and employees of XATA; any company providing insurance to
XATA in the present or past; the present and past fiduciaries of any employee benefit
plan sponsored or maintained by XATA (other than multiemployer plans); the attorneys
for XATA; and anyone who acted on behalf of XATA or on instructions from XATA.
	 
	 	D.	 	Agreement means the Separation Agreement between XATA and me that I am
executing on the same date on which I execute this Release, including all of the
documents attached to the Agreement.
	 
	 	E.	 	My Claims mean all of my rights that I now have to any relief of any
kind from the Company, including without limitation:

	 	1.	 	all claims arising out of or relating to my employment with
XATA or the termination of that employment;
	 
	 	2.	 	all claims arising out of or relating to the statements,
actions, or omissions of the Company;
	 
	 	3.	 	all claims for any alleged unlawful discrimination, harassment,
retaliation or reprisal, or other alleged unlawful practices arising under any
federal, state, or local statute, ordinance, or regulation, including without
limitation, claims under Title VII of the Civil Rights Act of 1964, the Age
Discrimination in Employment Act, the Americans with Disabilities Act, 42
U.S.C. § 1981, the Employee Retirement Income Security Act, the Equal Pay Act,
the Minnesota Human Rights Act, the Fair Credit Reporting Act, and workers’
compensation non-interference or non-retaliation statutes (such as Minn. Stat.
§ 176.82);
	 
	 	4.	 	all claims for alleged wrongful discharge; breach of contract;
breach of implied contract; failure to keep any promise; breach of a covenant
of

 

 

	 	 	 	good faith and fair dealing; breach of fiduciary duty; estoppel; my
activities, if any, as a “whistleblower”; defamation; infliction of
emotional distress; fraud; misrepresentation; negligence; harassment;
retaliation or reprisal; constructive discharge; assault; battery; false
imprisonment; invasion of privacy; interference with contractual or business
relationships; any other wrongful employment practices; and violation of any
other principle of common law;
	 
	 	5.	 	all claims for compensation of any kind, including without
limitation, bonuses, commissions, stock-based compensation or stock options,
vacation pay, perquisites, and expense reimbursements;
	 
	 	6.	 	all claims for back pay, front pay, reinstatement, other
equitable relief, compensatory damages, damages for alleged personal injury,
liquidated damages, and punitive damages; and
	 
	 	7.	 	all claims for attorneys’ fees, costs, and interest.

However, My Claims do not include any claims that the law does not allow to be
waived; any claims that may arise after the date on which I sign this Release; or any claims
for breach of the Agreement.

Agreement to Release My Claims. I will receive consideration from XATA as set forth in the
Agreement if I sign and do not rescind this Release as provided below. I understand and
acknowledge that that consideration is in addition to anything of value that I would be entitled to
receive from XATA if I did not sign this Release or if I rescinded this Release. In exchange for
that consideration I give up and release all of My Claims. I will not make any demands or claims
against the Company for compensation or damages relating to My Claims. The consideration that I am
receiving is a fair compromise for the release of My Claims.

Additional Agreements and Understandings. Even though XATA will provide consideration for
me to settle and release My Claims, the Company does not admit that it is responsible or legally
obligated to me. In fact, the Company denies that it is responsible or legally obligated to me for
My Claims, denies that it engaged in any unlawful or improper conduct toward me, and denies that it
treated me unfairly.

Confidentiality. I understand that the terms of this Release are confidential and that I
may not disclose those terms to any person except under the circumstances described in the
Agreement.

Advice to Consult with an Attorney. I understand and acknowledge that I am hereby being
advised by the Company to consult with an attorney prior to signing this Release. My decision
whether to sign this Release is my own voluntary decision made with full knowledge that the Company
has advised me to consult with an attorney.

Period to Consider the Release. I understand that I have 21 days from the day that I
receive this Release, not counting the day upon which I receive it, to consider whether I wish to
sign this Release. If I sign this Release before the end of the 21-day period, it will be my
voluntary

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decision to do so because I have decided that I do not need any additional time to decide whether
to sign this Release. I also agree that any changes made to this Release or to the Agreement
before I sign it, whether material or immaterial, will not restart the 21-day period.

My Right to Rescind this Release. I understand that I may rescind this Release at any time
within 15 days after I sign it, not counting the day upon which I sign it. This Release will not
become effective or enforceable unless and until the 15-day rescission period has expired without
my rescinding it.

Procedure for Accepting or Rescinding the Release. To accept the terms of this Release, I
must deliver the Release, after I have signed and dated it, to XATA by hand or by mail within the
21-day period that I have to consider this Release. To rescind my acceptance, I must deliver a
written, signed statement that I rescind my acceptance to XATA by hand or by mail within the 15-day
rescission period. All deliveries must be made to XATA at the following address:

XATA Corporation

151 East Cliff Road, Suite 10

Burnsville, MN 55337

Attention: Diane Hendricks

If I choose to deliver my acceptance or the rescission by mail, it must be:

(a) Postmarked within the 15-day period;

(b) Properly addressed to XATA at the address stated above; and

(c) Sent by certified mail, return receipt requested.

Interpretation of the Release. This Release should be interpreted as broadly as possible
to achieve my intention to resolve all of My Claims against the Company. If this Release is held
by a court to be inadequate to release a particular claim encompassed within My Claims, this
Release will remain in full force and effect with respect to all the rest of My Claims.

My Representations. I am legally able and entitled to receive the consideration being
provided to me in settlement of My Claims. I have not been involved in any personal bankruptcy or
other insolvency proceedings at any time since I began my employment with XATA. No child support
orders, garnishment orders, or other orders requiring that money owed to me by XATA be paid to any
other person are now in effect.

I have read this Release carefully. I understand all of its terms. In signing this Release, I
have not relied on any statements or explanations made by the Company except as specifically set
forth in the Agreement. I am voluntarily releasing My Claims against the Company. I intend this
Release and the Agreement to be legally binding.

	 	 	 	 	 
	Dated: 1/16/08	 	/s/ Thomas Schlick 

Thomas Schlick
	 	 

3

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