Document:

exv10w2

 

Exhibit 10.2

TECHNOLOGY SOLUTIONS COMPANY

1996 STOCK INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

          Technology Solutions Company (the “Company”) hereby grants to                                          (the
“Holder”) as of                                         , 2006 (the “Grant Date”), pursuant to the provisions of the
Company’s 1996 Stock Incentive Plan, as amended (the “Plan”), a restricted stock unit award (the
“Award”) with respect to                      shares of the Company’s Common Stock, $0.01 par value (“Stock”),
upon and subject to the restrictions, terms and conditions set forth below. Capitalized terms not
defined herein shall have the meanings specified in the Plan.

          1. Award Subject to Acceptance of Agreement. The Award shall be null and void unless
the Holder shall accept this Agreement by executing it in the space provided below and returning it
to the Company.

          2. Rights as a Stockholder. The Holder shall not be entitled to any privileges of
ownership with respect to the shares of Stock subject to the Award unless and until, and only to
the extent, such shares become vested pursuant to Section 3 hereof and the Holder becomes a
stockholder of record with respect to such shares.

          3. Vesting of Shares Subject to Award.

          3.1. Vesting of Award. Except for the vesting of the Award upon a Change in Control
as provided in Section 3.2 of this Agreement and Section 6.8 of the Plan, the Award shall vest as
follows:

          (a) The Award shall vest on the first anniversary of the Grant Date with respect to one-third
of the number of shares of Stock subject to the Award on the Grant Date, rounded up to the nearest
whole share, provided the Holder remains in continuous employment with the Company through such
anniversary date.

          (b) The Award shall vest on the second anniversary of the Grant Date with respect to one-third
of the number of shares of Stock subject to the Award on the Grant Date, rounded down to the
nearest whole share, provided that (i) the Holder remains in continuous employment with the Company
through such anniversary date and (ii) the Company reports positive net income, within the meaning
of U.S. Generally Accepted Accounting Principles, in its audited financial statements for the
calendar year ending prior to such anniversary date.

          (c) The Award shall vest on the third anniversary of the Grant Date with respect to the
remaining shares of Stock subject to the Award on the Grant Date, provided that (i) the Holder
remains in continuous employment with the Company through such anniversary date and (ii) the
Company reports positive net income, within the meaning of U.S. Generally Accepted Accounting
Principles, in its audited financial statements for the calendar year ending prior to such
anniversary date.

 

 

If the Holder’s employment by the Company terminates for any reason, the Holder shall forfeit all
rights with respect to the shares of Stock which are not vested as of the effective date of the
Holder’s termination of employment and such unvested portion of the Award shall be cancelled by the
Company. If the Company fails to meet the performance objective set forth in Section 3.1(b) or
3.1(c), the shares of Stock that otherwise would have vested pursuant to such Section shall be
forfeited and such portion of the Award shall be cancelled by the Company.

          3.2. Change in Control. Notwithstanding anything herein to the contrary, to the
extent the Award remains outstanding upon a Change in Control, all conditions and restrictions
relating to the continued performance of services and the attainment of performance goals set forth
in Section 3.1 of this Agreement shall immediately lapse upon a Change in Control, and the Award
shall thereupon become fully vested.

          4. Termination of Award. In the event that the Holder shall forfeit all or a portion
of the shares of Stock subject to the Award, the Holder shall, upon the Company’s request, promptly
return this Agreement to the Company for cancellation. Such cancellation shall be effective
regardless of whether the Holder returns this Agreement.

          5. Additional Terms and Conditions of Award.

          5.1. Nontransferability of Award. The Award is not transferable by the Holder except
by will or the laws of descent and distribution (or to a designated beneficiary in the event of the
Holder’s death). The Award may not be pledged, mortgaged, hypothecated or otherwise encumbered and
shall not be subject to the claims of creditors.

          5.2. Investment Representation. The Holder hereby represents and covenants that (a)
any share of Stock acquired upon the vesting of the Award will be acquired for investment and not
with a view to the distribution thereof within the meaning of the Securities Act of 1933, as
amended (the “Securities Act”), unless such acquisition has been registered under the Securities
Act and any applicable state securities law; (b) any subsequent sale of any such shares shall be
made either pursuant to an effective registration statement under the Securities Act and any
applicable state securities laws, or pursuant to an exemption from registration under the
Securities Act and such state securities laws; and (c) if requested by the Company, the Holder
shall submit a written statement, in form satisfactory to the Company, to the effect that such
representation (x) is true and correct as of the date of acquisition of any shares hereunder or (y)
is true and correct as of the date of any sale of any such shares, as applicable. As a further
condition precedent to the delivery to the Holder of any shares subject to the Award, the Holder
shall comply with all regulations and requirements of any regulatory authority having control of or
supervision over the issuance of the shares and, in connection therewith, shall execute any
documents which the Board or any committee authorized by the Board shall in its sole discretion
deem necessary or advisable.

          5.3. Withholding Taxes. As a condition precedent to the delivery to the Holder of any
shares of Stock subject to the Award, the Holder shall, upon request by the Company, pay to the
Company such amount of cash as the Company may be required, under all applicable federal, state,
local or other laws or regulations, to withhold and pay over as income or other withholding taxes
(the “Required Tax Payments”) with respect to the Award. If the Holder shall

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fail to advance the Required Tax Payments after request by the Company, the Company may, in
its discretion, deduct any Required Tax Payments from any amount then or thereafter payable by the
Company to the Holder, including the shares issuable pursuant to this Award.

          5.4. Adjustment. In the event of any stock split, stock dividend, recapitalization,
reorganization, merger, consolidation, combination, exchange of shares, liquidation, spin-off or
other similar change in capitalization or event, or any distribution to holders of Common Stock
other than a regular cash dividend, the number and class of securities subject to the Award shall
be appropriately adjusted by the Committee. The decision of the Committee regarding any such
adjustment shall be final, binding and conclusive. If any such adjustment would result in a
fractional security being subject to the Award, the Company shall pay the Holder, in connection
with the first settlement of the Award in whole or in part occurring after such adjustment, an
amount in cash determined by multiplying (i) the fraction of such security (rounded to the nearest
hundredth) by (ii) the Fair Market Value of a share of Common Stock on the settlement date.

          5.5. Compliance with Applicable Law. The Award is subject to the condition that if
the listing, registration or qualification of the shares subject to the Award upon any securities
exchange or under any law, or the consent or approval of any governmental body, or the taking of
any other action is necessary or desirable as a condition of, or in connection with, the vesting or
delivery of shares hereunder, the shares of Stock subject to the Award shall not vest or be
delivered, in whole or in part, unless such listing, registration, qualification, consent or
approval shall have been effected or obtained, free of any conditions not acceptable to the
Company. The Company agrees to use reasonable efforts to effect or obtain any such listing,
registration, qualification, consent or approval.

          5.6. Delivery of Certificates. Subject to Section 5.3, as soon as practicable after
the vesting of the Award, in whole or in part, the Company shall deliver or cause to be delivered
one or more certificates issued in the Holder’s name (or such other name as is acceptable to the
Company and designated in writing by the Holder) representing the number of vested shares. The
Company shall pay all original issue or transfer taxes and all fees and expenses incident to such
delivery, except as otherwise provided in Section 5.3.

          5.7. Award Confers No Rights to Continued Employment. In no event shall the granting
of the Award or its acceptance by the Holder give or be deemed to give the Holder any right to
continued employment by the Company or any affiliate of the Company.

          5.8. Decisions of Board or Committee. The Board or the Committee shall have the right
to resolve all questions which may arise in connection with the Award. Any interpretation,
determination or other action made or taken by the Board or the Committee regarding the Plan or
this Agreement shall be final, binding and conclusive.

          5.9. Company to Reserve Shares. The Company shall at all times prior to the
cancellation of the Award reserve and keep available, either in its treasury or out of it
authorized but unissued shares of Stock, the full number of unvested shares subject to the Award
from time to time.

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          5.10. Agreement Subject to the Plan. This Agreement is subject to the provisions of
the Plan and shall be interpreted in accordance therewith. The Holder hereby acknowledges receipt
of a copy of the Plan.

          6. Miscellaneous Provisions.

          6.1. Meaning of Certain Terms. As used herein, the term “vest” shall mean no longer
subject to forfeiture. As used herein, employment by the Company shall include employment by an
affiliate of the Company.

          6.2. Successors. This Agreement shall be binding upon and inure to the benefit of any
successor or successors of the Company and any person or persons who shall, upon the death of the
Holder, acquire any rights hereunder in accordance with this Agreement or the Plan.

          6.3. Notices. All notices, requests or other communications provided for in this
Agreement shall be made in writing either (i) by actual delivery to the party entitled thereto, or
(ii) by mailing in the U.S. mails to the last known address of the party entitled thereto, via
certified or registered mail, return receipt requested. The notice shall be deemed to be received
in case (i) on the date of its actual receipt by the party entitled thereto, and in case (ii) on
the date of its mailing.

          6.4. Governing Law. This Agreement, the Award and all determinations made and actions
taken pursuant hereto and thereto, to the extent not otherwise governed by the laws of the United
States, shall be governed by the laws of the State of Delaware and construed in accordance
therewith without giving effect to conflicts of laws principles.

          6.5. Counterparts. This Agreement may be executed in two counterparts each of which
shall be deemed an original and both of which together shall constitute one and the same
instrument.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	TECHNOLOGY SOLUTIONS COMPANY
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By: 	 	 	 	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: 	 	 
	 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 	 
	Accepted this            day of                     , 2006.
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

Holder

	 	 	 	 	 	 	 	 

4exv10w3

 

Exhibit 10.3

Technology Solutions Company

Non-Statutory

Inducement Stock Option Agreement

          Technology Solutions Company, a Delaware corporation (the “Company”), hereby grants to the
employee whose name appears below (the “Employee”), an option to purchase from the Company (the
“Option”) such number of shares of its Common Stock, $0.01 par value (“Stock”), as set forth below,
at the price per share set forth below, and subject to the other terms and conditions set forth
herein and in Annex I hereto (“Annex I”). The Option is not granted pursuant to the Technology
Solutions Company 1996 Stock Incentive Plan (as amended, the “Plan”) however, except to the extent
otherwise set forth herein or in Annex I, the terms and conditions of the Plan applicable to stock
options are incorporated herein by reference and shall apply as though the Option was granted
pursuant to the Plan. All capitalized terms used in this Agreement and not otherwise defined
herein shall have the respective meanings assigned to them in Annex I or the Plan. The Option
shall become null and void unless the Employee shall accept this Agreement by executing it in the
space provided and returning it to the Company.

	 	 	 	 	 	 	 
	 

	 	Employee Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Number of Shares Subject to Option:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Exercise Price Per Share:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Exercise Provisions:	 	 	 	 

          (a) The Option shall become exercisable (i) on the first anniversary of the Option Date with
respect to one-third of the number of shares subject to the Option on the Option Date, (ii) on the
last day of each calendar month for 24 months thereafter, beginning the month following the first
anniversary of the Option Date, with respect to an additional 1/36 of the number of shares subject
to the Option on the Option Date, and (iii) as otherwise provided pursuant to paragraphs (b)
through (g) of this Agreement or Section 6.8 of the Plan.

          (b) If, prior to the first anniversary of the Option Date, the Employee’s employment by the
Company terminates for any reason whatsoever (including, without limitation, involuntary
termination by the Company) other than death or Disability, the Option shall terminate in its
entirety upon the effective date of Employee’s termination of employment.

          (c) If, on or after the first anniversary of the Option Date, the Employee’s employment by
the Company terminates for any reason whatsoever (including, without limitation, involuntary
termination by the Company) other than death, Disability, or Retirement,

 

 

the Option shall remain exercisable with respect to the number of shares subject to the Option that are
exercisable upon the effective date of the Employee’s termination of employment and may thereafter
be exercised for a period of 90 days from the effective date of the Employee’s termination of
employment or until the Expiration Date, whichever period is shorter, after which the Option shall
terminate in its entirety.

          (d) If the Employee’s employment by the Company terminates by reason of the Employee’s death,
the Option shall become exercisable as of the date of death with respect to any or all of the
shares subject to the Option on the Option Date and may thereafter be exercised for a period of one
year from the date of death or until the Expiration Date, whichever period is shorter, after which
the Option shall terminate in its entirety.

          (e) If the Employee’s employment by the Company terminates by reason of the Employee’s
Disability, the Option shall become exercisable with respect to any or all of the shares subject to
the Option on the Option Date and may thereafter be exercised for a period of 90 days from the
effective date of the Employee’s termination of employment or until the Expiration Date, whichever
period is shorter, after which the Option shall terminate in its entirety. For purposes of this
Agreement, “Disability” shall mean the inability of an individual to fully perform the duties
pertaining to his or her employment for a continuous period in excess of 360 days, as determined by
the Board in its sole discretion.

          (f) If the Employee’s employment by the Company terminates by reason of the Employee’s
retirement after the Employee has completed five years of service as an Employee of the Company and
is at least 55 years of age (“Retirement”), the Option shall remain exercisable with respect to the
number of shares subject to the Option that are exercisable upon the effective date of Employee’s
Retirement, and may thereafter be exercised for a period of two years from the effective date of
the Employee’s Retirement or until the Expiration Date, whichever period is shorter, after which
the Option shall terminate in its entirety.

          (g) If the Employee dies following the termination of the Employee’s employment by the
Company, the Option shall be exercisable only to the extent that it is exercisable on the date of
the Employee’s death and may thereafter be exercised only for that period of time for which the
Option is exercisable immediately prior to the Employee’s death.

          General:

          Notwithstanding the fact that the Option is not granted pursuant to the Plan, the terms and
conditions of the Plan applicable to stock options are incorporated herein by reference and shall
apply as though the Option was granted pursuant to the Plan. A copy of the Plan is available upon
request by contacting the Company’s Legal Department in the Chicago office. Employee acknowledges
that the grant of the Option is an inducement material to the Employee’s entering into employment
with the Company. This Agreement may be executed in two counterparts each of which shall
constitute one and the same instrument.

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          IN WITNESS WHEREOF, this Agreement has been executed this                      day of                     , 200___(the
“Option Date”).

Accepted and agreed this

                     day of                     , 200_

	 	 	 	 	 	 	 
	EMPLOYEE	 	 	 	TECHNOLOGY SOLUTIONS COMPANY
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 
	Name:	 	 	 	Name:
	 	 	 	 	Title:

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Annex I

to

Inducement Stock Option Agreement

          1. Meaning of Certain Terms. As used herein, the following terms shall have the
meanings set forth below. “Board” shall mean the Board of Directors of the Company. “Code” shall
mean the Internal Revenue Code of 1986, as amended, together with the rules and regulations
thereunder. “Committee” shall mean the Committee designated by the Board, consisting of two or
more members of the Board, each of whom shall be a “Non-Employee Director” within the meaning of
Rule 16b-3 under the Exchange Act and an “outside director” within the meaning of section 162(m) of
the Code. “Securities Act” shall mean the Securities Act of 1933, as amended, together with the
rules and regulations thereunder. References to this “Agreement,” the “Option” and “herein” shall
be deemed to include the Inducement Stock Option Agreement and this Annex I to Inducement Stock
Option Agreement taken as a whole. This Annex I and the Inducement Stock Option Agreement shall be
deemed to be one and the same instrument. References herein to sections of the Code shall be
deemed to refer to any successor section of the Code or any successor internal revenue law.

          2. Time and Manner of Exercise of Option.

          2.1. Term and Termination of Option. The maximum term of the Option shall be the date
which is 10 years after the Option Date (the “Expiration Date”). The Option shall terminate, to
the extent not exercised or earlier terminated pursuant to the terms of this Agreement, on its
Expiration Date. In no event may the Option be exercised, in whole or in part, after it
terminates.

          2.2. Exercisability of Option. The Option shall become exercisable on the date or
dates as set forth in this Agreement.

          2.3. Procedure for Exercise; Payment of Purchase Price. Subject to the limitations
set forth in this Agreement, the Option may be exercised by delivery of written notice to the
Company specifying the number of shares to be purchased, accompanied by payment in full of the
purchase price for such number of shares. The purchase price shall be payable either (A) in cash,
(B) by delivery of Mature Shares having an aggregate Fair Market Value, determined as of the date
of exercise, equal to the aggregate purchase price payable by reason of such exercise, (C) in cash
by a broker-dealer acceptable to the Company to whom the Employee has submitted an irrevocable
notice of exercise or (D) a combination of (A) and (B). The Company shall have sole discretion to
disapprove of an election pursuant to any of clauses (B)-(D) and if the Employee is subject to
Section 16 of the Exchange Act, the Company may require that the method of making such payment be
in compliance with Section 16 and the rules and regulations thereunder. Any fraction of a share of
Stock which would be required to pay such purchase price shall be disregarded and the remaining
amount due shall be paid in cash by the Employee. No certificate representing Stock shall be
delivered until the full purchase price therefor has been paid (or arrangement made for such
payment to the Company’s satisfaction).

 

 

          3. Additional Terms and Conditions of Option.

          3.1. Nontransferability of Option. Neither the Option nor any right under this
Agreement may be transferred by the Employee other than (i) by will or the laws of descent and
distribution or (ii) to a Permitted Transferee, as hereinafter defined. During the Employee’s
lifetime the Option is exercisable only by the Employee or a Permitted Transferee. Upon the
Employee’s death, the Option may be exercised by the Employee’s successor in interest in accordance
with the terms and conditions of this Agreement. Any other transfer or any attempted assignment,
pledge or hypothecation, whether or not by operation of law, shall be void. The Option shall not
be subject to execution, attachment or other process, and no person shall be entitled to exercise
any rights of the Employee hereunder or possess any rights hereunder by virtue of any attempted
execution, attachment or other process. For purposes of this Agreement, a “Permitted Transferee”
shall mean (i) the Employee’s spouse, (ii) any of the Employee’s lineal descendants, (iii) a trust
or similar arrangement of which such spouse, a lineal descendant of the Employee, or one or more of
such persons are the only current beneficiaries, or (iv) a charitable organization described in
Section 170(c) of the Code, provided that such transferee has entered into a written agreement with
the Company authorizing the Company to withhold shares of Stock which would otherwise be delivered
to such person upon an exercise of the Option to pay any federal, state, local or other taxes which
may be required to be withheld or paid in connection with such exercise in the event that the
Employee does not provide for an arrangement satisfactory to the Company to assure that such taxes
will be paid.

          3.2. Investment Representation. The Employee hereby represents and covenants that (a)
any share of Stock purchased upon exercise of the Option will be purchased for investment and not
with a view to the distribution thereof within the meaning of the Securities Act unless such
purchase has been registered under the Securities Act or applicable state securities law; (b) any
subsequent resale of any such shares shall be made either pursuant to an effective registration
statement under the Securities Act and any applicable state securities laws, or pursuant to an
exemption from registration under the Securities Act and such state securities laws; and (c) if
requested by the Company, the Employee shall submit a written statement, in form satisfactory to
counsel for the Company, to the effect that either representation (a) above is true and correct as
of the date of purchase of any shares hereunder, or representation (b) above is true and correct as
of the date of any resale of any such shares, as applicable. As a further condition precedent to
any exercise of the Option, the Employee shall comply with all regulations and requirements of
regulatory authority having control of or supervision over the issuance of the shares and, in
connection therewith, shall execute any documents which the Company shall in its sole discretion
deem necessary or advisable. Unless covered by an effective registration statement filed with the
U.S. Securities and Exchange Commission, all certificates representing shares of Stock acquired
pursuant to the exercise of the Option shall bear the following legend:

The shares represented by this certificate have been acquired for
investment and have not been registered under the Securities Act of
1933, as amended. The shares may not be sold or transferred in the

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absence of such registration or exemption therefrom under said Act.

          3.3. Withholding Taxes. As a condition precedent to any exercise of the Option, the
Employee shall, upon request by the Company, pay to the Company in addition to the purchase price
of the Stock, such amount of cash as the Company may be required, under all applicable federal,
state or local laws or regulations, to withhold and pay over as income or other withholding taxes
(the “Required Tax Payments”) with respect to such exercise of the Option. If the Employee shall
fail to advance such Required Tax Payments after request by the Company, the Company may, in its
discretion, deduct any such Required Tax Payments from the amount to be paid hereunder, whether in
Stock or in cash, or from any other amount then or thereafter payable by the Company to the
Employee.

          3.4. Adjustments in the Event of Capitalization Changes. In the event of any stock
split, stock dividend, recapitalization, reorganization, merger, consolidation, combination,
exchange of shares, liquidation, spin-off or other similar change in capitalization or event, or
any distribution to holders of Stock other than a regular cash dividend, the number and class of
securities subject to the Option and the purchase price per security, shall be appropriately
adjusted by the Committee. The Committee may adjust the Option using any method which it deems
appropriate, which may be the same as or different than the method used to adjust other options
granted by the Company, including options granted under the Plan, with respect to such change in
capitalization or event. The decision of the Committee regarding any such adjustment shall be
final, binding and conclusive. If any such adjustment would result in a fractional security being
subject to the Option, the Company shall pay the Employee, in connection with the first exercise of
the Option in whole or in part occurring after such adjustment, an amount in cash determined by
multiplying (i) the fraction of such security (rounded to the nearest hundredth) by (ii) the
excess, if any, of (A) the Fair Market Value on the exercise date over (B) the exercise price of
the Option.

          3.5. Compliance with Applicable Law. The Option is subject to the requirement that
if at any time the Company determines that the listing, registration or qualification of the shares
of Stock subject to the Option upon any securities exchange or under any law, or the consent or
approval of any governmental body, or the taking of any other action is necessary or desirable as a
condition of, or in connection with, the delivery of shares hereunder, such shares shall not be
delivered unless such listing, registration, qualification, consent, approval or other action shall
have been effected or obtained, free of any conditions not acceptable to the Company. The Company
may require that certificates evidencing shares of Stock delivered pursuant to the Option bear a
legend indicating that the sale, transfer or other disposition thereof by the holder is prohibited
except in compliance with the Securities Act.

          3.6. Indemnification. The Employee hereby covenants and agrees to indemnify and hold
harmless the Company, its officers, directors, employees and agents from and against any loss,
claim, damage and expense (including, without limitation, reasonable attorneys’ fees) arising out
of or based upon any breach or failure by the Employee to comply with any

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representation, warranty,
covenant or agreement made by the Employee herein or in any other document furnished by the
Employee in connection with this transaction.

          3.7. Delivery of Certificates. Upon the exercise of the Option in whole or in part,
the Company shall deliver one or more certificates representing the number of shares purchased
against full payment therefor. The Company shall pay all original issue or transfer taxes and all
fees and expenses incident to such delivery, except as otherwise provided in paragraph 3.3.

          3.8. Option Confers No Rights as Stockholder. The Employee shall have no rights as a
stockholder of the Company with respect to any shares of Stock or other equity security of the
Company which is subject to the Option hereunder unless and until the Employee becomes a
stockholder of record with respect to such shares of Stock or equity security.

          3.9. Option Confers No Rights to Continued Employment. In no event shall the
granting of the Option or its acceptance by the Employee confer upon the Employee any right to
continued employment by the Company or any of its subsidiaries or affiliates or affect in any
manner the right of the Company or any of its subsidiaries or affiliates to terminate the
employment of the Employee at any time without liability hereunder.

          3.10. Decisions of Committee. The Committee shall have the right to resolve all
questions which may arise in connection with the Option or its exercise. Any interpretation,
determination or other action made or taken by the Committee regarding this Agreement including any
of the terms or conditions of the Plan that are incorporated herein by reference, shall be final,
binding and conclusive.

          3.11. Company to Reserve Shares. The Company shall at all times prior to the
expiration or termination of the Option reserve and keep available, either in its treasury or out
of its authorized but unissued shares of Stock, the full number of shares subject to the Option
from time to time.

          4. Miscellaneous Provisions.

          4.1. Designation as Nonqualified Stock Option. The Option is hereby designated as
not constituting an “incentive stock option” within the meaning of section 422A of the Code; this
Agreement shall be interpreted and treated consistently with such designation.

          4.2. Successors. This Agreement shall be binding upon and inure to the benefit of
any successor or successors of the Company and any person or persons who shall acquire any rights
under paragraph 3.1.

          4.3. Notices. All notices, requests or other communications provided for in this
Agreement shall be made in writing either (1) by actual delivery to the party entitled thereto, or
(2) by mailing in the U.S. mails to the last known address of the party entitled thereto, via
certified or registered mail, return receipt requested. The notice shall be deemed to be received

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in case (1) on the date of its actual receipt by the party entitled thereto, and in case (2) on the
date of its mailing.

          4.4. Governing Law. This Agreement, and all determinations made and actions taken
pursuant thereto, to the extent not otherwise governed by the Code or the laws of the United
States, shall be governed by the laws of the State of Delaware and construed in accordance
therewith without giving effect to the principles of conflicts of laws.

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