Document:

Exhibit
10.1

    

    PEERLESS
SYSTEMS CORPORATION

    2005 INCENTIVE AWARD PLAN RESTRICTED STOCK AWARD
AGREEMENT

    

              THIS
RESTRICTED STOCK AWARD AGREEMENT, (the “Agreement”), dated as of
____________  (the “Date of Grant”), is made by and between Peerless
Systems Corporation, a Delaware corporation (the “Company”), and _____________
(the “Grantee”).

    

              WHEREAS,
pursuant to the 2005 Incentive Award Plan, as amended (the
“Plan”),  the Company may grant Restricted Stock;

    

    WHEREAS,
the Company’s director compensation policy provides that, on the date of the
Company’s annual meeting of stockholders, each director who is re-elected to the
Board of Directors (the “Board”) shall receive __________ shares of Restricted
Stock;

    

    WHEREAS, pursuant
to such policy, on _______________, the Board approved the grant of _______
shares of Restricted Stock to the Grantee, comprised of _______ shares of
Restricted Stock issuable in connection with Grantee’s re-election to
the Board on _______________, inadvertently  not previously
issued,  and _______ shares of Restricted Stock issuable in
connection with Grantee’s re-election to the Board
on  _______________;

    

              WHEREAS,
the Company desires to grant to the Grantee the number of shares of Restricted
Stock provided for herein;

    

              NOW,
THEREFORE, in consideration of the recitals and the mutual agreements herein
contained, the parties hereto agree as follows:

    

    Section 1.
Grant of Restricted Stock
Award

    

    
      	
               
      

            	
              (a)

            	
              Grant of Restricted
      Stock. The Company hereby grants to the Grantee _______ shares
      of Restricted Stock (the “Award”) upon the terms and conditions set forth
      in this Agreement and as otherwise provided in the
  Plan.

            

    

    

    
      	
               
      

            	
              (b)

            	
              Incorporation of Plan;
      Capitalized Terms. The provisions of the Plan are hereby
      incorporated herein by reference. Except as otherwise expressly set forth
      herein, this Agreement shall be construed in accordance with the
      provisions of the Plan and any capitalized terms not otherwise defined in
      this Agreement shall have the definitions set forth in the Plan. The
      Administrator shall have final authority to interpret and construe the
      Plan and this Agreement and to make any and all determinations thereunder,
      and its decision shall be binding and conclusive upon the Grantee and
      his/her legal representative in respect of any questions arising under the
      Plan or this Agreement.

            

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    Section 2.
Terms and Conditions of
Award

    

    
      	
            	
              (a)

            	
              The
      grant of Restricted Stock provided in Section 1(a) shall be subject to the
      following terms, conditions and restrictions: Ownership of Shares.
      Subject to the restrictions set forth in the Plan and this Agreement, the
      Grantee shall possess all incidents of ownership of the Restricted Stock
      granted hereunder, including the right to receive or reinvest dividends
      with respect to such Restricted Stock and the right to vote such
      Restricted Stock.

            

    

    

    
      	
            	
              (b)

            	
              Restrictions.
      Restricted Stock and any interest therein, may not be sold, assigned,
      transferred, pledged, hypothecated or otherwise disposed of, except by
      will or the laws of descent and distribution, during the Restricted
      Period. Any attempt to dispose of any Restricted Stock in contravention of
      the above restriction shall be null and void and without
      effect.

            

    

    

    
      	
            	
              (c)

            	
              Certificate; Book Entry Form;
      Legends. The Company shall issue the shares of Restricted Stock
      either (i) in certificate form or (ii) in book entry form,
      registered in the name of the Grantee, with legends, or notations, as
      applicable, referring to the terms, conditions and restrictions applicable
      to the Award. Grantee agrees that any certificate issued for Restricted
      Stock prior to the lapse of any outstanding restrictions relating thereto
      shall be inscribed with the following
legends:

            

    

    

    “THIS
CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE TERMS
AND CONDITIONS, INCLUDING FORFEITURE PROVISIONS AND RESTRICTIONS AGAINST
TRANSFER (THE “RESTRICTIONS”), CONTAINED IN THE 2005 INCENTIVE AWARD PLAN OF
PEERLESS SYSTEMS CORPORATION, AS AMENDED, AND AN AGREEMENT ENTERED INTO BETWEEN
THE REGISTERED OWNER AND THE COMPANY. ANY ATTEMPT TO DISPOSE OF THESE SHARES IN
CONTRAVENTION OF THE RESTRICTIONS, INCLUDING BY WAY OF SALE, ASSIGNMENT,
TRANSFER, PLEDGE, HYPOTHECATION OR OTHERWISE, SHALL BE NULL AND VOID AND WITHOUT
EFFECT. “

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    
      
        	
              	
                (d)

              	
                Lapse of
      Restrictions. All
      restrictions with respect to _______ shares of Restricted Stock granted
      hereunder shall lapse on the earlier of (i) _______________ and (ii) the
      date of the Company’s _____ annual meeting of stockholders.   All
      restrictions with respect to the remaining _______ shares of
      Restricted Stock granted hereunder shall lapse on the earlier of (i)
      _______________ and (ii) the date of the Company’s _____ annual meeting of
      stockholders. Upon the lapse of restrictions relating to any shares of
      Restricted Stock, the Company shall, as applicable, either remove the
      notations on any such shares of Restricted Stock issued in book-entry form
      or deliver to the Grantee or the Grantee’s personal representative a stock
      certificate representing a number of shares of Common Stock, free of the
      restrictive legend described in Section 2(c), equal to the number of
      shares of Restricted Stock with respect to which such restrictions have
      lapsed. If certificates representing such Restricted Stock shall have
      theretofore been delivered to the Grantee, such certificates shall be
      returned to the Company, complete with any necessary signatures or
      instruments of transfer prior to the issuance by the Company of such
      unlegended shares of Common Stock.   Upon lapse of such
      restrictions, the Common Stock may not be sold, offered for sale, pledged,
      hypothecated or otherwise transferred in the absence of a registration
      statement in effect with respect thereto under the Securities Act of
      1933, as amended (the "Act"), unless sold pursuant to Rule 144 of the
      Act or unless such sale, pledge hypothecation or transfer is
      otherwise exempt from registration under the Act and applicable state
      securities laws.

              

      

    

    

    
      	
            	
              (e)

            	
              Termination of Directorship. If prior to the
      lapse of restrictions in accordance with Section 2(d) with respect to any
      portion of the Restricted Stock granted hereunder (i) Grantee’s
      directorship is terminated with cause;  (ii) Grantee voluntarily
      resigns as a director of the Company; or (iii) Grantee determines not to
      stand for re-election as a director for the Company, such portion of the
      Restricted Stock held by the Grantee shall be automatically forfeited by
      the Grantee as of the date of termination. Shares of Restricted Stock
      forfeited pursuant to this Section 2(e) shall be transferred to, and
      reacquired by, the Company without payment of any consideration by the
      Company, and neither the Grantee nor any of the Grantee’s successors,
      heirs, assigns or personal representatives shall thereafter have any
      further rights or interests in such shares. If certificates for any such
      shares containing restrictive legends shall have theretofore been
      delivered to the Grantee (or his/her legatees or personal representative),
      such certificates shall be returned to the Company, complete with any
      necessary signatures or instruments of
transfer.

            

    

    

    
      	
            	
              (f)

            	
              In
      the event of termination of Grantee’s directorship without cause prior to
      the lapsing of restrictions in accordance with Section 2(d) with respect
      to any portion of the Restricted Stock granted hereunder, all restrictions
      with respect to such portion of the Restricted stock shall be deemed to
      lapse immediately pursuant to the terms set forth in Section
      3(d).

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    
      	
            	
              (g)

            	
              Income Taxes. The
      Grantee shall pay to the Company promptly upon request, and in any event
      at the time the Grantee recognizes taxable income in respect of the
      Restricted Stock (whether in connection with the grant or vesting of the
      Restricted Stock, the making of an election under Section 83(b) of the
      Code in connection with the grant of the Restricted Stock as described in
      Section 2(h) below, or otherwise), an amount equal to the taxes the
      Company determines it is required to withhold under applicable tax laws
      with respect to the Restricted Stock. Such payment may be made by any of,
      or a combination of, the following methods: (i) cash or check;
      (ii) out of the Grantee’s current compensation; (iii) if
      permitted by the Administrator in its discretion, surrender of other
      shares of Common Stock of the Company which (a) in the case of shares
      initially acquired from the Company (upon exercise of a stock option or
      otherwise), have been owned by the Grantee for such period (if any) as may
      be required to avoid a charge to the Company’s earnings, and (b) have
      a Fair Market Value on the date of surrender equal to the amount
      required to be withheld; or (iv) if permitted by the
      Administrator in its discretion, by electing to have the Company withhold
      or otherwise reacquire from the Grantee Shares of Restricted Stock that
      vest pursuant to the terms hereof having a Fair Market Value equal to the
      minimum statutory amount required to be withheld in connection with the
      vesting of such Shares. For these purposes, the Fair Market Value of the
      Shares to be withheld or repurchased, as applicable, shall be determined
      on the date that the amount of tax to be withheld is to be determined (the
      “Tax Date”).  All elections by the Grantee to have Shares withheld or
      repurchased to satisfy tax withholding obligations shall be made in
      writing in a form acceptable to the Administrator and shall be subject to
      the following restrictions:

            

    

    

    
      	
               
      

            	
              (i)

            	
              the
      election must be made on or prior to the applicable Tax
    Date;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              once
      made, the election shall be irrevocable as to the particular Shares as to
      which the election is made;

            

    

    

    
      	
               
      

            	
              (iii)

            	
              all
      elections shall be subject to the consent or disapproval of the
      Administrator; and

            

    

    

    
      	
               
      

            	
              (iv)

            	
               if
      the Grantee is subject to Section 16 of the Exchange Act, the
      election must comply with the applicable provisions of Rule 16b-3
      promulgated under the Exchange Act and shall be subject to such additional
      conditions or restrictions as may be required thereunder to qualify for
      the maximum exemption from Section 16 of the Exchange Act with
      respect to Plan transactions.

            

    

    

    
      	
            	
              (h)

            	
              Section 83(b) Election. The Grantee
      hereby acknowledges that he or she may file an election pursuant to
      Section 83(b) of the Code to be taxed currently on the fair market value
      of the shares of Restricted Stock (less any purchase price paid for the
      shares), provided that such election must be filed with the Internal
      Revenue Service no later than thirty
      (30) days after the grant of such Restricted Stock. The
      Grantee will seek the advice of his or her own tax advisors as to the
      advisability of making such a Section 83(b) election, the potential
      consequences of making such an election, the requirements for making such
      an election, and the other tax consequences of the Restricted Stock award
      under federal, state, and any other laws that may be applicable. The
      Company and its affiliates and agents have not and are not providing any
      tax advice to the Grantee.

            

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    Section 3.
 Miscellaneous

    

    
      	
            	
              (a)

            	
              Notices. Any and all
      notices, designations, consents, offers, acceptances and any other
      communications provided for herein shall be given in writing and shall be
      delivered either personally or by registered or certified mail, postage
      prepaid, which shall be addressed, in the case of the Company to both the
      Chief Financial Officer and the General Counsel of the Company at the
      principal office of the Company and, in the case of the Grantee, to the
      Grantee’s address appearing on the books of the Company or to the
      Grantee’s residence or to such other address as may be designated in
      writing by the Grantee.

            

    

    

    
      	
            	
              (b)

            	
              No Right to Continued
      Directorship. Nothing in the Plan
      or in this Agreement shall confer upon the Grantee any right to continue
      as a director of the Company.

            

    

    

    
      	
            	
              (c)

            	
              Bound by Plan. By
      signing this Agreement, the Grantee acknowledges that he/she has received
      a copy of the Plan and has had an opportunity to review the Plan and
      agrees to be bound by all the terms and provisions of the
      Plan.

            

    

    

    
      	
            	
              (d)

            	
              Successors. The terms
      of this Agreement shall be binding upon and inure to the benefit of the
      Company, its successors and assigns, and of the Grantee and the
      beneficiaries, executors, administrators, heirs and successors of the
      Grantee.

            

    

    

    
      	
            	
              (e)

            	
              Invalid Provision. The
      invalidity or unenforceability of any particular provision thereof shall
      not affect the other provisions hereof, and this Agreement shall be
      construed in all respects as if such invalid or unenforceable provision
      had been omitted.

            

    

    

    
      	
            	
              (f)

            	
              Modifications. No
      change, modification or waiver of any provision of this Agreement shall be
      valid unless the same is in writing and signed by the parties
      hereto.

            

    

    

    
      	
            	
              (g)

            	
              Entire Agreement. This
      Agreement and the Plan contain the entire agreement and understanding of
      the parties hereto with respect to the subject matter contained herein and
      therein and supersede all prior communications, representations and
      negotiations in respect thereto.

            

    

    

    
      	
            	
              (h)

            	
              Governing Law. This
      Agreement and the rights of the Grantee hereunder shall be construed and
      determined in accordance with the laws of the State of
      Delaware.

            

    

    

    
      	
            	
              (i)

            	
              Headings. The headings
      of the Sections hereof are provided for convenience only and are not to
      serve as a basis for interpretation or construction, and shall not
      constitute a part, of this
Agreement.

            

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    
      	
            	
              (j)

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

            

    

     
   

         IN
WITNESS WHEREOF, this Agreement has been executed and delivered by the parties
hereto as of the ___day of _____________.

    

    
      
        
          
            	 
      	
                    PEERLESS
      SYSTEMS CORPORATION

                  
	 
      	 
      
	 
      	
                    By:

                  
	 
      	 
      
	 
      	
                    Its:

                  
	 
      	 
      
	 
      	 
      
	 	 
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  
	 
      	 
      
	 
      	
                    Address:

                  

          

        

      

    

    
      
         

      

      
        6Exhibit
10.2

    

    CONSULTING
AGREEMENT

    

    This
Consulting Agreement (this "Agreement") is made and entered into as of August 6,
2009, by and between Peerless Systems Corporation, a Delaware corporation (the
"Company"), and _______________ ("Consultant"), with reference to the following
facts:

    

    WHEREAS, the parties hereto
desire to enter into an agreement under which Consultant will
provide

    services
to the Company as an independent contractor.

    

    NOW, THEREFORE, in
consideration of the mutual agreements and covenants contained herein,
the

    parties
hereto hereby agree as follows:

    

    1.           Engagement and Term. The Company
hereby engages the services of Consultant and Consultant hereby accepts
such engagement upon the terms and conditions set forth herein for a term
commencing on the date hereof and terminating on August 5,
2010.

    

    2.           Duties; Nature of Services. Consultant
shall perform such duties pertaining to the Company's

    business
as the Company's Chief Executive Officer or Board of Directors may request from
time to time, which duties shall include providing advice and guidance to
the Company in connection with its business, strategy, operations
and financings; provided, however, Consultant's duties shall not exceed
twenty (20) hours in the aggregate during any thirty (30) calendar day
period. Consultant may render his services by telephone, videoconference and/or
any other remote methods as Consultant may reasonably
determine.

    

    3.           Compensation. In
consideration of the performance by Consultant of his obligations under
this

    Agreement,
as soon as practicable after the execution and delivery of this Agreement by
both parties: (a) the Company shall pay to Consultant a consulting fee
in the amount of Twenty-Five Thousand Dollars ($25,000), (b) the Company
shall issue to Consultant Ten Thousand (10,000) shares of the
Company's common stock in accordance with the Peerless Systems Corporation 2005
Incentive Award Plan, which shares shall be fully vested upon
issuance.  As of the date hereof,  all of Consultant's unvested
stock options in Company shall immediately vest and be exercisable by
Consultant.   Such options shall expire if not exercised on
or before August 5, 2010.

    

    4.           Reimbursement of
Expenses. Consultant shall be responsible for his own expenses unless
the

    Board of
Directors of the Company requires in writing that Consultant incur out of pocket
expenses, in which event such expenses shall be reimbursed by the
Company.

    

    5
..          Confidential
Information; Company Property; Insider
Trading. During the term of this Agreement and at all times thereafter, Consultant shall keep all Company confidential information in confidence and shall not disclose any of the same to any other person or entity, except Consultant's attorneys and other persons and/or entities designated in writing and in advance by the Company.  Consultant shall not cause, suffer or permit such confidential information to be used for the gain or benefit of any party outside of the Company or for Consultant's personal gain or benefit outside the scope of Consultant's engagement by the Company.  Upon the expiration or termination of his engagement, Consultant shall immediately surrender to the Company all property belonging to the Company.  During the term of this
Agreement, Consultant shall be subject to, and shall
comply with, the Company’s Insider Trading Program, as may be amended from time
to time.

    

    6.     
     Relationship and Authority. The
relationship between the Company and Consultant created by this Agreement
is that of client and independent contractor, and nothing contained herein shall
be construed as creating a relationship of employer and employee or
principal and agent between them. Consultant shall neither act nor make any
representation that he is authorized to act as an employee, agent or officer of
the Company.

    

    7.           Entire Agreement:
Severability. This Agreement is
intended to embody the final, complete and exclusive agreement among the
parties with respect to the subject matter hereof and is intended to supersede
all prior agreements, understandings and representations written or oral,
with respect thereto. The provisions of this Agreement are
severable, and in the event that any provision is declared invalid, this
Agreement shall be interpreted as if such invalid provision were not
contained herein.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    8.           Waiver: Modification
Assignment. This Agreement may be amended or modified only in
a writing signed by the parties. Consultant may not assign any right or
obligation under this Agreement without the prior written consent of
the Company, which may be granted or withheld in the Company's sole and
absolute discretion. Neither party may assign any right or obligation under
the Agreement without the prior written consent of the other
party.

    

    9.           Applicable Law and Venue- This Agreement
shall constitute a contract under the laws of the State of
Delaware and shall be governed and construed in accordance with
the laws of said state and without regard to the conflicts of
laws principles thereof. Any action or proceeding brought hereunder shall
be brought in the United States District Court for Delaware. The
parties hereto hereby waiving any claim or defense
that such forum is not convenient or proper;
provided, however, if such court shall deny jurisdiction for any
reason, any such action or proceeding shall be brought in the State court
sitting in Wilmington, Delaware, and the parties hereto shall waive
any claim or defense that such forum is not convenient or proper. In the
event of any proceeding to enforce any provision of this Agreement,
the prevailing party shall recover its reasonable
attorneys’ fees, expenses and costs.

    

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

    This
Agreement may be executed and delivered by facsimile and/or PDF
signature.

    

    IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first set forth above.

    

    
      
        
          
            
              
                
                  
                    
                      
                        	 
      	
                                CONSULTANT

                              
	 
      	 
      	 
      
	 
      	
                                Signature:

                              	 
      
	 
      	 
      	 
      
	 
      	
                                Print
      Name:

                              	 
      
	 
      	 
      	 
      
	 
      	
                                Address:

                              	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      

                      

                    

                  

                

              

            

          

        

      

    

    

    
      
        
          
            
              
                	 
      	
                        PEERLESS
      SYSTEMS CORPORATION

                      
	 
      	 
      	 
      
	 
      	
                        By:

                      	 
      
	 
      	 
      	
                        Name:
      William Neil

                      
	 
      	 
      	
                        Title:
      Chief Financial Officer and Acting Chief Executive
  Officer

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