Document:

exv10w2

Exhibit 10.2

Form of Replacement Term A Note

REPLACEMENT TERM A NOTE

	 	 	 
	$25,000,000

	 	Dated as of September 30, 2009

     FOR VALUE RECEIVED, WINTRUST FINANCIAL CORPORATION, an Illinois corporation (the “Maker”)
promises to pay to the order of BANK OF AMERICA, N.A., as successor to LaSalle Bank National
Association (the “Bank”) the lesser of the principal sum of TWENTY-FIVE MILLION DOLLARS
($25,000,000), or the aggregate unpaid principal amount outstanding under the Credit Agreement
dated as of November 1, 2005 (as amended from time to time, the “Credit Agreement”) between the
Maker and the Bank, at the maturity or maturities and in the amount or amounts as stated on the
records of the Bank together with interest (computed on actual days elapsed on the basis of a 360
day year) on any and all principal amounts outstanding hereunder from time to time from the date
hereof until maturity. Interest shall be payable at the rates of interest and the times set forth
in the Credit Agreement. All unpaid principal, and accrued interest, if not paid sooner, shall be
due and payable in full on October 30, 2009.

     This Replacement Term A Note (this “Note”) shall be available for direct advances.

     Principal and interest shall be paid to the Bank at its office at 135 South LaSalle Street,
Chicago, Illinois 60603, or at such other place as the holder of this Note may designate in writing
to the Maker. This Note may be prepaid in whole or in part as provided for in the Credit Agreement.

     This Note evidences indebtedness incurred under the Credit Agreement dated as of November 1,
2005, as amended from time to time, between the Maker and the Bank, to which reference is hereby
made for a statement of the tams and conditions under which the clue date of the Note or any
payment thereon may be accelerated. The holder of this Note is entitled to all of the benefits
provided for in the Credit Agreement.

     The Maker agrees that in action or proceeding instituted to collect or enforce collection of
this Note, the amount on the Bank’s records shall be conclusive and binding evidence, absent
demonstrable error, of the unpaid principal balance of this Note.

     This Note is issued in replacement of and substitution for, but not in repayment of, that
certain Term A Note dated as of August 31, 2009, in the principal amount of Twenty Five Million
Dollars ($25,000,000), executed by the Maker and payable to the order of the Bank (the “Prior
Note”). The indebtedness evidenced by the Prior Note is continuing indebtedness evidenced hereby,
and nothing herein shall be deemed to constitute a payment, settlement or novation of the Prior
Note, or to release or otherwise adversely affect any lien, mortgage or security interest securing
such indebtedness.

	 	 	 	 	 
	 	WINTRUST FINANCIAL CORPORATION

 	 
	 	By:  	/s/ David A. Dykstra
 	 
	 	Its: Senior E.V.P.Exhibit 4.1

Exhibit 4.1

	 	 	 
	Amanda Bedborough

	 	 PRIVATE & CONFIDENTIAL
	Dove Lodge
	 	 
	Braywick Road
	 	 
	Bray
	 	 
	Berkshire
	 	 

May 11,
2009

Dear Amanda,

Congratulations Amanda! I am pleased to confirm your promotion to EVP, Global Sales effective 24
March 2009.

Concurrent with this promotion, your total compensation has been reviewed and, effective 24 March
2009, your total compensation will be distributed as follows:

	 	 	 
	Base salary

	 	£200,000 per annum
	 
	 	 
	AIP

	 	£155,000 per annum
	 
	 	 
	Total Target Cash Compensation

	 	£355,000 per annum

You will receive your new salary via May payroll, backdated to 24 March 2009.

FY09 Annual Incentive Plan

AIP shall be governed by a separate written agreement (the Annual Incentive Plan@),
this document will be forwarded to you shortly.

Long Term Incentive

We are currently in the process of reviewing the long-term incentives (i.e., equity interests)
previously granted and to be granted to you and other employees. Details of any future grants will
be provided to you upon Board approval. We will guarantee that, after 24 months from the date of
new grants being made, provided you are still in the position of EVP Global Sales, the total value
of your new equity interests in Corel Corporation will be worth at least £250,000. Further
details regarding this guarantee are set out in attached Schedule A.

Signing bonus

Once you have been in the Global Sales role for 12 months from the 24 March 2009 you will be paid a
signing bonus of £25,000, subject to the normal tax and national insurance deductions. If
you are no longer in the position before 12 months from 24 March 2009, the amount will be pro-rated
for the period that you served as EVP Global Sales.

All terms and conditions remain the same in your employment contract dated 1 January 2003.

 

 

 

Amanda, I am thrilled to have you taking on this new role! I am confident that having you
contribute in this increased capacity will not only re-focus our global sales team but will also
strengthen Corel overall. Thank you for your ongoing commitment to the team and to Corel.

Yours sincerely

	 	 	 
	/s/ KRIS HAGERMAN
 

Kris Hagerman

	 	 
	Interim CEO
	 	 

Please confirm your acceptance of these terms by signing this letter and returning one copy to Anna
Seegers, no later than the 13 May 2009.

	 	 	 
	Agreed
and accepted this 13 day of May 2009, signed:

	 	/s/ AMANDA BEDBOROUGH
	 

	 	Amanda Bedborough

 

 

 

SCHEDULE A

Long-Term Incentive Guarantee

	1.	 	This schedule describes the method of determining and paying the long-term incentive
guarantee (the “Guarantee”) referred to in the accompanying promotion letter and supersedes
the general description contained in that letter.

	2.	 	It is Corel Corporation’s intention that you will be granted new options on or near 1 June
2009 (the actual grant date being referred to as the “New Grant Date”). The Corel options you
are to be granted are referred to as your “Equity Interest”.

	3.	 	Triggering the Guarantee is at your discretion. If you wish to trigger the guarantee, you
must notify HR, in writing, prior to the two year anniversary of the new grant date. If you
trigger the guarantee, you will forfeit the vested portion of the new equity grant in exchange
for the guaranteed amount or the appropriate amount as described in point 6, in the event of
cash dividends, distributions or gains from exercises afforded to you prior to the second
anniversary of the equity grant. The Guarantee is only valid up until the two year
anniversary of the grant. If you choose to not trigger the Guarantee by the two year
anniversary of the new grant date, then the Guarantee is null and void thereafter.

	4.	 	If you trigger the Guarantee two years after the New Grant Date, the “Guaranteed Value” will
be equal to ,250,000. If the Guarantee is triggered earlier than the two year
anniversary, the Guaranteed Value will be prorated based on the number of days after the New
Grant Date.

	5.	 	The Guarantee may only be triggered in conjunction with the exercise or other disposition of
the entire portion of your Equity Interest under paragraph 3 above that has vested as of the
trigger date or in connection with a departure occurring before any of the Equity Interest has
vested.

	6.	 	As of the trigger date, the body administering the long-term incentive plan governing your
Equity Interest will determine the value of your Equity Interest (the “Equity Interest
Value”). For the purposes of this Guarantee, the value will be equal to the fair value of the
Corel shares underlying the options (vested or unvested) forming the Equity Interest less the
exercise price of those options and less the value of any cash dividends, distributions or
gains from exercises and sales associated with the Equity Interest and actually paid to you.
In determining the fair value of the Corel shares, the body will apply a 30-day weighted
average trading price (if the shares are publicly traded) or such other methodology as the
body uses for other determinations of fair value under the plan.

	7.	 	To the extent that the Equity Interest Value as of the trigger date is less than the
Guaranteed Value, then you will be entitled to a Top-Up Payment. The Top-Up Payment will be
equal to the difference between the Guaranteed Value and the Equity Interest Value. Any
payment will be subject to all applicable tax and national insurance deductions.Exhibit 4.2

Exhibit 4.2

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT is made effective as of the 18th day of August, 2009
(the “Effective Date”) between COREL CORPORATION (the “Employer”) and THOMAS PETER BERQUIST
(the “Executive”), an individual residing in the State of California.

WHEREAS, the Employer and the Executive wish to enter into an agreement pursuant to which the
Executive will provide the Executive’s services to the Employer and the Employer will hire and
retain the services of the Executive as an employee of the Employer, on the terms and conditions
set forth in this agreement (the “Agreement”).

NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements contained
in this Agreement, the parties hereby mutually covenant and agree as follows:

1. EMPLOYMENT

(a) The Executive is employed in the position of Chief Financial Officer, reporting to
the Chief Executive Officer or his/her designee, with such duties and responsibilities attendant to
such position as shall be determined from time to time by the Chief Executive Officer or his/her
designee; provided, however, that the Employer has the absolute right, with prior notice to the
Executive, to change the Executive’s assignments, duties and reporting relationships in accordance
with the operational needs of the Employer.

(b) The Executive is employed on a full-time basis for the Employer and it is understood that
the hours of work involved will vary and may be irregular. The Executive acknowledges that this
clause constitutes agreement to work such hours.

(c) The Executive shall be required to work in the Employer’s offices in Mountain View,
California and such other locations as the Employer may specify from time to time. If the
principal office location is moved by a distance greater than 50 miles, then the Executive shall
have the right to be deemed to have been Terminated without Cause. It is fundamental to the term
of Executive’s employment that the Executive be willing and able to travel frequently without
restriction, both domestically and internationally. Accordingly, the Executive must maintain an
up-to-date passport at all times.

(d) The Executive acknowledges and hereby agrees to observe all policies of the Employer as
the Employer may in its absolute discretion create from time to time.

(e) The Executive acknowledges and agrees that during the term of this Agreement, the
Executive shall devote the Executive’s full-time and skill to the duties and responsibilities
contemplated in this Agreement and shall not be engaged in any other employment in any other
capacity or any other activity that interferes with the provision of the services contemplated in
this Agreement or that is for the benefit of any person, corporation or enterprise whose business
interests are either competitive or in conflict with those of the Employer unless specifically
approved in writing by the Chief Executive Officer; provided that the Executive may engage in
charitable, civic or community activities, provided such duties do not materially interfere with
the performance of the duties described herein. The Employer acknowledges that the Executive is
permitted to continue to serve on two Boards as disclosed by the Executive to the Employer prior to
signing this Agreement, and that any further changes in Board membership is subject to review and
approval by the Employer. The Executive further agrees to limit membership to two Boards at any
given time.

Employment Agreement — Tom Berquist

 

 

 

2. EMPLOYMENT TERM

Subject to being terminated pursuant to the provisions of Section 5 of this Agreement, the
term of this Agreement shall be indefinite commencing on September 14, 2009 (the “Hire Date”).

3. SALARY AND BENEFITS

(a) Upon hire, the Executive shall receive a gross annual salary (“Base Pay”) of $300,000
USD. The said Base Pay is to be paid at such times and in such fashion as is in keeping with
the ordinary practices and policies of the Employer, as amended from time to time. The Executive’s
Base Pay shall be subject to review from time to time, and the Employer may but is not required to
adjust the Base Pay as the Employer in its discretion may determine.

(b) The Executive shall be eligible to participate in the Employer’s Annual Incentive Plan
(AIP) and the Executive’s target incentive under this program will be $200,000 USD;
provided that the target incentive for the fiscal year in which the Effective Date falls will be
prorated based on the actual service in that fiscal year. The terms and conditions of the AIP
shall be governed by a separate written document (the “Annual Incentive Plan”), as may be amended
from time to time by the Employer, and the Executive agrees to adhere to such Annual Incentive
Plan.

(c) The Executive shall be eligible to participate in the Employer’s Equity Incentive program
which allows employees to share in the long term value created in the company. At the next
regularly scheduled Compensation Committee meeting and/or Board Meeting following the execution of
this agreement, your recommended stock option grant of 314,618 options will be presented for
approval. Details of this grant will be provided to you upon approval. These options are governed
by the Corel Corporation Equity Incentive Plan (‘the Plan’), as it may be amended from time to
time. If a Significant Event occurs (as defined in the Plan), then the Executive will vest his
options on a pro-rata basis based on his then current vesting schedule without being subject to any
“cliff” period as defined in the Annual Incentive Plan,. Additionally, 50% of the Executive’s
unvested options will also vest on completion of that Significant Event (the “Accelerated
Options”). However, if the Executive voluntarily terminates his employment with the Employer
before 6 months have elapsed from completion of the Significant Event, then the Executive will be
required to deliver for cancellation any common shares issuable on exercise of the Accelerated
Options, or pay to the Employer the net cash proceeds received by the Executive in respect of the
Accelerated Options, or shares issuable upon exercise of those options. Except as set out above,
these options are governed by the Plan. You acknowledge that for the purpose of the Plan the
effective date of any termination of your
employment shall not be affected by the subsequent decision of any court or other body that
the termination was improper, unlawful, unfair, without sufficient notice or otherwise deficient in
any respect.

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(d) The Executive shall be entitled to participate in such additional benefit programs as are
enjoyed from time to time generally by similarly situated employees in accordance with the
established practices and policies of the Employer as the Employer may in its absolute discretion
create or amend from time to time. In this regard, the Executive acknowledges having received a
description of the benefit programs in force as of the effective date of this Agreement. The
Executive acknowledges that except as otherwise set out in this Agreement, there are no further
benefits.

4. VACATION

The Executive shall be entitled to paid vacation in accordance with the Employer’s policies as
the Employer may in its absolute discretion amend from time to time. The Executive’s initial
annual vacation benefit shall be four (4) weeks per 12 month period commencing on the Hire
Date, to accrue in equal installments of 1.67 days per month of employment. The Executive’s
annual entitlement will increase by 1 day per completed year of employment, subject to an
aggregated cap of five (5) weeks per 12 month period. The maximum number of vacation days
Executive may accrue shall be the total number of days he/she can accrue in the 12 month period
plus 5 days. The Executive shall begin to accrue vacation again after his/her vacation balance
falls below that amount.

5. TERMINATION

This Agreement and the employment of the Executive under this Agreement may be terminated in
the manner set out in this Section 5. For all purposes under this Agreement, the “Termination
Date” shall be the date on which the Executive’s employment with the Employer ends, as specified in
the written notice under Sections 5(a), (b), (c) and (e) below, or the date of death under Section
5(d) below.

(a) Termination by the Employer without Cause

The Employer may terminate this Agreement and the employment of the Executive at any time
without Cause by giving the Executive notice in writing of such termination.

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(b) Termination by the Employer for Cause

The Employer may terminate this Agreement and the employment of the Executive for Cause by
giving the Executive notice in writing of such termination. For purposes of this Agreement,
“Cause” shall mean (i) any material act of dishonesty or misconduct in violation of the Employer’s
policy, (ii) any material act significantly and demonstrably detrimental to the financial
condition, reputation or good will of the Employer, which act constitutes gross negligence or
willful misconduct by Executive in the performance of his duties to the Employer, (iii) Executive’s
conviction of any crime deemed by the Employer to be adverse to its best interests or reputation,
(iv) Executive’s willful failure to follow any lawful directive of the
Executive’s superior, (v) a substantial failure by Executive to meet reasonable performance
objectives that have been approved by the Executive’s superior after consultation with Executive
and have been communicated to Executive in advance of the relevant period of time for performance,
(vi) a material breach of this Agreement or any other agreement to which Executive and the Employer
are parties or a material breach of any other obligation or duty owed to the Employer, which breach
remains uncured to the reasonable satisfaction of the Employer for 15 days after Executive receives
notice thereof. If the Employer proposes to terminate Executive’s employment for Cause, the
Employer shall provide written notice to Executive setting forth the reasons for such termination
and giving Executive an opportunity to respond prior to the effective date of termination, which
shall be not less than ten (10) calendar days after Executive’s receipt of such notice. The
Employer may suspend Executive with pay until a final termination decision is made by the Employer.

(c) Termination by the Executive

This Agreement and the employment of the Executive may be terminated at any time by the
Executive giving to the Employer four weeks’ prior written notice. The Employer reserves the right
to require the Executive to work for all or any part of such notice period, and/or to waive in
writing any notice in excess of four weeks, in which case the termination will take effect on the
date designated by the Employer but no sooner than four weeks from the Executive’s notice.

(d) Termination by Death

This Agreement and the employment of the Executive under this Agreement shall be automatically
terminated by the death of the Executive.

(e) Termination due to Disability

This Agreement and the employment of the Executive may be terminated effective immediately in
the event of the Executive’s Disability, by the Employer giving notice in writing of such
termination to the Executive. For these purposes, “Disability” shall be determined in accordance
with the Employer’s long-term disability program in effect from time to time, or, if no such
program is in effect, shall mean that the Executive is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be
expected to result in death or which has lasted, or can be expected to last, for a continuous
period of not less than 12 months.

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(f) Effect of Termination

(A) In the event Executive’s employment with the Employer terminates under Sections
5(b) or (c) the Employer shall pay to the Executive the Accrued Obligations as set forth in
subsections (i)-(iii) below:

(i) the amount of any Base Pay earned by the Executive as of the Date of
Termination to the extent not theretofore paid;

(ii) any vacation pay, expense reimbursements and other cash entitlements
accrued by the Executive as of the Date of Termination to the extent not theretofore
paid; and

(iii) all other benefits which have accrued as of the Termination Date.

(B) In the event Executive’s employment with the Employer terminates under Sections
5(d) or (e), the Employer shall pay to the Executive (or designated beneficiary in case of
his/her death):

(i) all Accrued Obligations; and

(ii) any incentive payment in accordance with the terms of the AIP Plan.

(C) In the event Executive’s employment with the Employer terminates under Section
5(a), the Employer shall pay to the Executive:

(i) all Accrued Obligations;

(ii) any incentive payment in accordance with the terms of the AIP Plan; and

(iii) the Executive’s then-current Base Pay calculated on a pro rata basis for
a period of time equal to one month for each full year of employment subject to a
minimum of six (6) months and a cap of twelve (12) months, payable in accordance
with the Employer’s regular payroll practices.

(iv) family COBRA coverage for medical and dental calculated on a pro rata
basis for a period of time equal to one month for each full year of employment
subject to a minimum of six (6) months and a cap of twelve (12) months. If, prior
to completion of the above period following the termination the Executive commences
a position with another employer, or becomes self-employed, then the COBRA coverage
will end

The payments specified in Section 5(f)(C)(iii) are conditioned upon the
Executive’s compliance with Sections 6 and 7 herein and delivery to the Employer of
an executed unconditional release of claims in a form satisfactory to the Employer.
Any amounts due under Section 5(f)(C)(iii) shall not be due until the expiration of
any revocation period applicable to the unconditional release of claims.

6. CONFIDENTIAL INFORMATION AND PROPRIETARY RIGHTS; OWNERSHIP OF PROPERTY

(a) The Executive shall abide by the Confidential Information and Proprietary Rights Agreement
(“NDA/IP Agreement”) attached as Schedule A to this Agreement, as well as the
Network Use and Security Policy attached as Schedule B of this Agreement, all of which form
part of the terms and conditions of the Executive’s employment.

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7. OWNERSHIP OF PROPERTY

(a) The Executive agrees that during the term of his employment with the Employer and
thereafter any and all equipment, devices or other property provided to the Executive by the
Employer shall remain the property of the Employer. The foregoing shall include all property
(whether in electronic or hard copy form) including without limitation computers, peripherals,
software, cellular phones and any other equipment.

(b) Upon termination of this Agreement, the Executive shall immediately return to the Employer
any and all of the foregoing property and shall return to the Employer any other property which has
been leased or rented by the Employer for use by the Executive.

8. SURVIVAL, SEVERABILITY AND ENFORCEABILITY

(a) The provisions of Sections 6 and 7 of this Agreement, this Section 8 and the NDA/IP
Agreement shall each survive the cessation for any reason whatsoever of the employment relationship
under this Agreement and shall remain enforceable notwithstanding the existence of any claim or
cause of action of the Executive against the Employer, whether predicated upon this Agreement or
otherwise.

(b) If any provision of this Agreement or any part thereof shall be deemed void, invalid,
illegal or unenforceable by a court or other lawful authority of competent jurisdiction, this
Agreement shall continue in force with respect to the enforceable provisions and all rights accrued
under the enforceable provisions shall survive any such declaration, and any non-enforceable
provision or part-thereof shall, to the extent permitted by law, be replaced by a provision which,
being valid, comes closest to the intention underlying the invalid, illegal or unenforceable
provision.

(c) The Executive acknowledges that a breach of any of the provisions in Sections 6 and 7 of
this Agreement or of the NDA/IP Agreement will give rise to irreparable harm and injury
non-compensable in damages. Accordingly, the Employer or such other party may seek and obtain
injunctive relief against the breach or threatened breach of the foregoing provisions, in addition
to any other legal remedies which may be available. The Executive further acknowledges and agrees
that the covenants contained in Sections 6 and 7 of this Agreement and in the NDA/IP Agreement are
necessary for the protection of the Employer’s legitimate business interests. The Executive
further agrees to notify the Employer immediately of any breach of the Executive’s obligations
under this Agreement which comes to the attention of the Executive.

9. DISCLOSURE

(a) The Executive acknowledges that the Executive is not a party to any prior agreements which
have created, or which could create in any third party rights which are or could become
inconsistent with the Executive’s obligations in this Agreement, and the Executive agrees that the
Executive will fully disclose to the Employer at the Executive’s earliest
opportunity any such prior agreements as well as any claims made or notices provided by a
third party which allege any such agreement or interest.

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(b) The Executive undertakes and agrees that after the termination for any reason whatsoever
of the Executive’s employment under this Agreement and prior to entering into any contractual
relationship with any other party to serve as an officer, director, employee, partner, advisor,
joint-venturer or in any other capacity with any other business, undertaking, association,
partnership, firm, enterprise or venture, the Executive shall disclose to such other party the
terms of Sections 6, 7 and 8 of this Agreement and the NDA/IP Agreement. The Executive expressly
authorizes the Employer to make such disclosure to such other party, if the Employer deems it
necessary.

10. CURRENCY AND PAYMENTS

All payments provided under this Agreement are expressed in U.S. dollars and all payments to
the Executive under this Agreement will be made subject to applicable federal and state income tax
withholding and other applicable withholding requirements.

11. APPLICABLE LAW

This Agreement and the rights and obligations of the parties under this Agreement shall be
construed and governed in accordance with the laws of the State of California.

12. ENTIRE AGREEMENT

This Agreement, inclusive of Schedules A and B, contains the entire understanding and
agreement between the parties with respect to the employment of the Executive and the subject
matter of this Agreement and any and all previous agreements and representations, written or oral,
express or implied, between the parties or on their behalf, relating to the employment of the
Executive by the Employer and the subject matter of this Agreement, are hereby terminated and
cancelled and each of the parties hereby releases and forever discharges the other of and from all
manner of actions, causes of action, claims and demands whatsoever under or in respect of any such
prior agreements and representations. Except as provided in this Agreement, no amendment or
variation of any of the provisions of this Agreement shall be valid unless made in writing and
signed by each of the parties.

13. NOTICES

Any consent, approval, notice, request, or demand required or permitted to be given by one
party to the other shall be in writing (including, without limitation, telecopy communications) to
be effective and shall be deemed to have been given on the earlier of receipt or the fifth day
after mailing by registered mail as follows:

	 	(a)	 	If to the Employer, to it at:

Corel Corporation

1600 Carling Avenue

Ottawa ON K1Z 8R7

Facsimile: (613) 761-1146

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	 	(b)	 	If to the Executive, at:

212 Oak Grove Avenue

Atherton, CA 94027

or such other address as may have been designated by written notice.

Any consent, approval, notice, request or demand aforesaid if delivered, faxed or telecopied
shall be deemed to have been given on the date of such delivery, facsimile or telecopy
transmission. Any such delivery shall be sufficient, inter alia, if left with an adult person at
the above address of the Executive in the case of the Executive, and if left with the receptionist
at the above address of the Employer in the case of the Employer. The Employer or the Executive
may change its or the Executive’s address for service, from time to time, by notice given in
accordance with the foregoing.

14. NON WAIVER

The parties acknowledge and agree that a failure by either party to enforce any particular
provision of this Agreement shall not be considered a waiver of any of its rights and will not
release the other party of any responsibility for performance under this Agreement.

15. SUCCESSORS AND ASSIGNS

This Agreement shall inure to the benefit of and shall be binding upon the successors and
assigns of the Employer.

16. COUNTERPARTS

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

17. INDEPENDENT LEGAL ADVICE

The Executive acknowledges that the Executive is aware that the Executive has the right to
obtain independent legal advice before signing this Agreement. The Executive hereby acknowledges
and agrees that either such advice has been obtained or that the Executive does not wish to seek or
obtain such independent legal advice. The Executive further acknowledges and agrees that the
Executive has read this Agreement inclusive of all Schedules, and has read all enclosures, and
fully understands the terms of this Agreement, and further agrees that all such terms are
reasonable and that the Executive signs this Agreement freely, voluntarily and without duress.

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IN WITNESS WHEREOF the parties have duly executed this Agreement as of the dates set forth
below.

	 	 	 	 	 
	 	COREL CORPORATION

 	 
	Dated: August 18, 2009 	By:  	/s/ KRIS HAGERMAN
 	 
	 	 	Title: Chief Executive Officer 	 
	 
	 	EXECUTIVE

 	 
	Dated: August 18, 2009 	/s/ TOM BERQUIST
 	 

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Schedule A

CONFIDENTIAL INFORMATION AND PROPRIETARY RIGHTS AGREEMENT (“NDA/IP AGREEMENT”)

CONFIDENTIAL INFORMATION

	1.	 	You acknowledge that you may, in your capacity as an employee of Corel, from time to time
receive Confidential Information of Corel which Corel wishes and is entitled to protect. You
understand that “Confidential Information” includes, but is not limited to, any part of the
computer systems, software source code, system logic, systems, marketing plans, patents, trade
secrets, know how, technical expertise, financial information, product information, customer
information, and other non-public information relating to the business of Corel and its
affiliates, whether verbal or written, regardless of the form or medium, with respect to the
business of Corel, as well as all proprietary and other information of a confidential nature
which is provided to Corel by third parties.

	2.	 	You agree that both during and after your employment with Corel you will hold the
Confidential Information in trust and confidence for Corel, and that you will not disclose the
Confidential Information to any person or entity without the prior written approval of Corel
or use the Confidential Information for any purpose other than the specific purposes required
by your duties with Corel.

	3.	 	You agree that both during and after your employment with Corel you will not copy the
Confidential Information without Corel’s written permission or as required by your duties with
Corel. You agree that both during and after your employment with Corel you will not remove
any Confidential Information from Corel’s premises without the express permission of Corel.
If Corel requests at any time, you will immediately return all Confidential Information in
your possession or control to Corel.

	4.	 	You agree that you will advise Corel promptly of any information known to you prior to your
employment with Corel which could be included as Confidential Information but which you
consider to be excluded from the provisions of this NDA/IP Agreement.

	5.	 	The obligations of confidentiality under this Agreement shall not apply to any information
that (a) is or becomes information in the public domain without any act or omission by you,
(b) was in your possession free of any obligation of confidentiality before being disclosed to
you by or on behalf of Corel, (c) was disclosed to you by a third party without breach by such
third party of any obligation to keep such information confidential, or (d) is required to be
disclosed by law, whether under an order of a court or government tribunal or other legal
process, provided that you inform Corel of such requirement as soon as you become aware of the
requirement and in sufficient time to allow Corel to take such steps as are lawfully available
to Corel to avoid or limit such disclosure. You agree that you will advise Corel promptly of
any information which you believe is qualified by this paragraph before using or disclosing
such information.

	6.	 	You agree that during your employment with Corel you will not make use of or in any manner
communicate to Corel any confidential information of any third party (including
but not limited to your former employers) that may be in or may come into your possession or
control, other than confidential information disclosed to you in your capacity as a
representative of Corel.

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PROPRIETARY PROPERTY

	7.	 	You acknowledge that all tangible and intangible improvements, inventions, know how and
discoveries, technology, patents, copyrightable materials, computer programs, designs,
documentation, processes, techniques or procedures in any way related to Corel’s business
which are developed, invented, contributed to or written by you, alone or together with
others during the course of your employment with Corel or at any time using Confidential
Information, including all derivative works (all collectively, “Developments”) are the
exclusive property of Corel.

	8.	 	You agree that you will fully disclose all Developments to Corel promptly after they are
created. You hereby irrevocably waive all your moral rights in all Developments as of the
moment they are created and you hereby transfer all your right, title and interest in and to
all Developments, including all derivative works, exclusively to Corel on a world wide,
royalty free basis as of the moment they are created and, as required by Corel, will protect
Corel’s interest in such Developments. Both during and after your employment with Corel, you
agree to execute any documents which Corel feels are necessary, at Corel’s expense, to enable
Corel to apply for or enforce its patent, copyright, industrial design, trademark right, or
any other industrial or intellectual property rights in the Developments.

	9.	 	You acknowledge that you are not a party to any prior agreements which have created, or which
could create in any third party rights which are or could become inconsistent with your
obligations in this Agreement, and you agree that you will fully disclose to Corel at your
earliest opportunity any such prior agreements as well as any claims made or notices provided
by a third party which allege any such agreement or interest.

	10.	 	You acknowledge that, from time to time, Corel uses the image, likeness, voice or other
representation of its employees in connection with the production of corporate reports,
advertising and promotional materials, and training videos. You hereby agree that if, during
the course of your employment, you participate in such productions, Corel may use your image,
likeness, voice or other representation in perpetuity, in all media and in all territories for
the purposes described above, both during and after your employment with Corel, without
further compensation to you.

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GENERAL

	11.	 	You acknowledge that any breach of this NDA/IP Agreement will cause Corel irreparable harm,
for which damages may not be adequate compensation and acknowledge that in addition to any
other rights and remedies that it may have at law or equity, Corel may apply for equitable
relief, including an injunction, in order to stop any breach or threatened breach by you of
this NDA/IP Agreement. You are required to notify Corel
immediately of any breach of your obligations under this NDA/IP Agreement which comes to
your attention.

	12.	 	You understand that a failure by Corel to enforce any particular provision of this NDA/IP
Agreement is not to be considered a waiver of any of its rights and will not release you of
any responsibility for performance under this NDA/IP Agreement.

	13.	 	The various provisions of this NDA/IP Agreement are independent of each other and of any
other agreement, and the invalidity of all or part of any one particular provision will not
affect or impair the enforceability of the remainder of that provision or the other provisions
of this NDA/IP Agreement.

	14.	 	You understand that your employment with Corel is subject to the terms and conditions of this
NDA/IP Agreement, and that regardless of any changes in your role, responsibilities,
compensation or otherwise, you will continue to be subject to the terms and conditions of this
NDA/IP Agreement. You also understand that the ongoing obligations contained in this NDA/IP
Agreement shall continue in full force and effect notwithstanding the termination for any
reason whatsoever of your employment with Corel and that you must continue to observe these
obligations when seeking new employment.

Acceptance and Authorization I have read, I understand, and I hereby agree to comply with the
terms and conditions of this NDA/IP Agreement. I confirm that I had the opportunity to confer with
an independent legal advisor if I so wished, in advance of signing below.

I hereby undertake to notify my actual or future employers (and other third parties as necessary)
of the terms of this NDA/IP Agreement and my responsibilities under this Agreement.

I also hereby authorize Corel to notify my actual or future employers (and other third parties as
necessary) of the terms of this NDA/IP Agreement and my responsibilities under this Agreement.

					
	 	 	 	 	 
	Signed:
	 	/s/ TOM BERQUIST
	 	Date: August 18, 2009
	 
	 	 	 	 
	 
	 	Tom Berquist	 	 

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Schedule B

NETWORK USE & SECURITY

The purpose of this policy is to establish guidelines for the proper use of computer network
resources by employees and to increase the overall security of our computer network, including the
Internet and all software, hardware, related equipment and/or services (the “Network”). Improper
use of the Network by you can expose yourself and Corel to potential civil and criminal penalties,
litigation, embarrassment and adverse publicity. Further, the use of unauthorized software on the
Network can compromise Network performance or unduly complicate the work of Corel’s MIS department.
Accordingly, it is important that all employees be familiar with and abide by the terms of this
policy.

By using the Network, you acknowledge and agree that:

The Network is owned by Corel Inc, its parent, subsidiaries and/or affiliates (“Corel”). It
is to be used:

	 	•	 	only by you; and,

	 
	 	•	 	primarily for authorized business purposes that are directly related to your
work for Corel.

You may make personal use of the Internet, provided that such personal use does not interfere
with your ability to perform your job and does not otherwise offend this policy; however you should
have no expectation as to privacy with respect to any use of the Internet or the Network.

Corel has the right and ability to monitor any and all aspects of your use of the Network,
including, but not limited to, monitoring sites that you visit on the Internet and the material
contained in your files and e mail. Current auditing technology allows Corel to conduct a detailed
Internet audit which includes tracking the Internet sites that you visit and identifying Corel
employees who visit certain sites. Anything you create, store, send, post or otherwise access
and/or transmit via the Network should not be considered private. Your use of passwords, access
codes, account numbers or other Network related authorizations does not necessarily ensure privacy.

You are responsible for using the Network in an ethical and lawful manner, including as
follows:

Your use of the Network must comply with all relevant intellectual property laws, inclusive of
copyright and the terms and conditions of third party software license or Network related
agreements to which you or Corel are a party. Without limiting the foregoing, you are not to
knowingly use the Network (i) to operate software that has been copied illegally; and/or (ii) to
transmit software to third parties without written authorization from your Director. Software that
is licensed to you personally may not be used on the Network without the prior written
authorization of your Director.

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You are not to use the Network to create, store, send, post or otherwise access and/or
transmit inappropriate, offensive and/or illegal material, including but not limited to, harassing,
embarrassing, sexually explicit and pornographic material (collectively referred to “Inappropriate
Material”). Participation in chat groups, discussion groups, newsletters and/or other public
forums that contain or make reference to Inappropriate Material is similarly prohibited. Should
you encounter Inappropriate Material on the Network, you agree to report it to the Human Resources
Department. Should you mistakenly access Inappropriate Material, you agree to advise the Human
Resources Department.

You will not use the Network to knowingly make or disseminate any defamatory, negligent or
other similar statements.

You have an obligation to safeguard the Network’s integrity and security. You are responsible
for all transactions and transmissions made using your password, unless your password was illegally
obtained by a third party. You agree to not disclose confidential passwords, access codes, account
numbers or other Network related authorizations that are assigned to you from time to time. You
are not to destroy, password protect, encrypt or remove software or data without prior written
authorization from your Manager. You may be required to disclose your password or assist with the
decryption of a file to allow access by authorized Corel employees. You agree not to attempt to
access or use the Network through the use of another user’s I.D. or password or to otherwise
misrepresent yourself as another user of the Network.

Remote access privileges are for Corel employees only. Any access by a third party (such as a
friend, spouse or roommate) will result in immediate withdrawal of all remote access privileges and
may result in further disciplinary action.

You acknowledge and agree that, from time to time, Corel may provide you with notice of
changes to this policy’s terms and conditions and that such changes shall be binding upon you.

Violation of this policy may result in disciplinary action, including dismissal for cause,
and/or subject you to penalties or civil, criminal and/or copyright proceedings. Corel will
cooperate fully with local, provincial, state and federal officials in any investigation that is
Network related.

ACKNOWLEDGMENT

I hereby acknowledge receiving and reading a copy of the above Corporate Policy Network Use
and Security on the date indicated below and I agree to abide and be bound by the above terms and
conditions, as amended from time to time.

					
	 	 	 	 	 
	Signed:
	 	/s/ TOM BERQUIST
	 	Date: August 18, 2009
	 
	 	 	 	 
	 
	 	Tom Berquist	 	 

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