Document:

LOCK UP AGREEMENT

EXHIBIT

10.30

 

LOCK UP AGREEMENT

 

This Lock Up

Agreement (this “Agreement’) is

entered into effective as of February 6, 2002 and is between GlobalSCAPE, Inc.

(“GlobalSCAPE”) and certain

officers and directors of GlobalSCAPE, Inc. and ATSI Communications, Inc.

listed on the signature block to this Agreement (the “Shareholders”).

 

RECITALS

 

A.                                   As

of December 31, 2001 GlobalSCAPE has 13,022,190 shares of common  stock issued and outstanding (the “Common Stock”), of which 9,433,905 shares

are held by ATSI Communications, Inc. 

(“ATSI”) and the remaining

shares are held by various others, including numerous members of the public.

 

B.                                     The

Shareholders are officers and directors of GlobalSCAPE and of ATSI and

collectively own or have the vested right to acquire within the next 180

days  2,187,652 shares of the Common

Stock.

 

C.                                     GlobalSCAPE

expects it Common Stock to begin to be quoted on the NASD’s Over-the-Counter

Bulletin Board (the “OTCBB”) on or

around February 15, 2002.

 

D.                                    To

promote an orderly market in the stock once it begins active trading,

GlobalSCAPE and the Shareholders have agreed to the term of this Agreement

stated below.

 

                NOW

THEREFORE, each Shareholder agrees as follows:

 

1.             Lock Up.  Except as permitted in Section 2

below, for a period of 180 days from the first day that shares of GlobalSCAPE,

Inc. common stock are first quoted on the OTCBB the Shareholders shall not

offer, sell, contract to sell, pledge or otherwise dispose of, directly or

indirectly, any shares of Common Stock or securities convertible into or

exchangeable or exercisable for any shares of Common Stock, enter into a

transaction which would have the same effect, or enter into swap, hedge or

other arrangement that transfers, in whole or part, any of the economic

consequences of ownership of the Common Stock, whether any such transaction is

to be settled by delivery of Common Stock or such other securities, in cash or

otherwise, or publicly disclose the intention to make any such offer, sale,

pledge or disposition, or to enter into any such transaction, swap, hedge or

other arrangement.

 

2.             Permitted Transfers.  Section 1 shall not apply to:

 

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a)                the pledge by a Shareholder of shares

of Common Stock to a financial institution in connection with a bona fide

financing transaction, provided that the financial institution is subject to

the terms of this Agreement;

 

b)               transfers of shares of Common Stock to

immediate family members or trusts for the benefit of such family members,

provided such transferee is subject to the terms of this Agreement;

 

c)                sales made as part of a “cashless

exercise” of an option issued pursuant to the GlobalSCAPE, Inc. 1998 Stock

Option Plan or the GlobalSCAPE, Inc. 2000 Stock Option Plan;

 

d)               transfers which would be exempt from the

registration requirements of Section 5 of the Securities Act by virtue of the

exemption provided by Section 4(2) of the Securities Act if the transferor were

the issuer of common stock, provided that the transferee is subject to

the terms of this Agreement; or

 

; provided, however, that no

Shareholder may sell shares in a manner not permitted, or in an amount not

permitted, by law, including the rules applicable to “affiliates” under SEC

Rule 144, despite the availability of a permitted transfer under this Section

2.

 

3.             Stop Transfer Instructions.  Each Shareholder will agree to the entry of

stop transfer instructions with the Company’s transfer agent against the

transfer of the securities held by such Shareholder except in compliance with

the foregoing restrictions.  Promptly

upon execution of this Agreement, each shareholder who holds shares of Common

Stock in the name of a brokerage firm or other representative shall cause the

shares to be transferred into the name of the Shareholder.

 

4.             Headings.  Headings and captions are for convenience

only and are not to be used in the interpretation of this Agreement.

 

5.             Modification.  This Agreement may be modified as to any

Shareholder only by a written document that refers specifically to this

Agreement and is signed by GlobalSCAPE and that Shareholder.

 

6.             Governing

Law, Jurisdiction, Venue.  This Agreement shall be governed by the laws of the State of

Texas.  Sole and exclusive venue for any

dispute or disagreement arising under or relating to this agreement shall be in

a court sitting in Bexar County, San Antonio, Texas.

 

7.             Termination

of Employment.  This

Agreement shall terminate as to any Shareholder who is also an employee if the

Shareholder’s employment is terminated without cause.

 

8.             Severability.  If any provision of this Agreement shall be

adjudged by any court of competent jurisdiction to be unenforceable or invalid,

that provision shall be limited or

 

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eliminated to the minimum extent

necessary so that this Agreement shall otherwise remain in full force and

effect and enforceable.

 

9.             Waiver.  No failure to exercise or delay in

exercising any right under this Agreement will operate as a waiver of that

right, nor will any single or partial exercise of any right or power preclude

further exercise of that right or any other right.

 

10.          Final

Agreement. 

This Agreement, including exhibits, constitutes the final and complete

agreement of the parties with respect to its subject matter, and supercedes any

prior agreements, discussions or understandings, written or oral.

 

11.          Null and Void.  If shares of Common Stock do not begin to be

quoted on the OTCBB by March 15, 2002, this Agreement shall be null and void.

 

12.          Counterparts.  This Agreement may be signed in multiple

counterparts, which together will be deemed an original.  This Agreement shall be binding upon any

signing Shareholder notwithstanding the failure of any other Shareholder to

sign.

 

IN WITNESS

WHEREOF, the parties have executed this Agreement as of the              day of February, 2002

 

	

  GLOBALSCAPE,

  INC.

  	

   

  
	

   

  	

   

  
	

  By:

  	

   

  	

   

  	

   

  
	

  Tim Nicolaou

  	

   

  
	

  Chief Executive Officer

  	

   

  
	

   

  	

   

  
	

  /s/ Tim

  Nicolaou

  	

  /s/ H.

  Doulgas Saathoff

  
	

  Tim Nicolaou

  	

  H. Douglas

  Saathoff

  
	

   

  	

   

  
	

  /s/ Sandra

  Poole-Christal

  	

   

  	

   

  
	

  Sandra Poole-Christal

  	

  Murray Nye

  
	

   

  	

   

  
	

  /s/ Brian

  Christal

  	

   

  	

   

  
	

  Brian

  Christal

  	

  Richard

  Benkendorf

  
	

   

  	

   

  
	

  /s/ Daniel

  P. McRedmond

  	

   

  	

   

  
	

  Daniel P.

  McRedmond

  	

  Carlos

  Kauachi

  
	

   

  	

   

  
	

  /s/ Arthur

  L. Smith

  	

   

  	

   

  
	

  Arthur L.

  Smith

  	

  Tomas Revesz

  
					

 

3Exhibit 10

 

Exhibit 10.8(l)

EMPLOYEE AGREEMENT

 

This Employment Agreement (the “Agreement”)

sets forth the terms of employment by and between TRM Corporation (the

“Company”) and Kenneth L. Tepper (“you”, the “Executive”) in effect as of

December 18, 2001 and as approved by the Compensation Committee and Board of

Directors of the Company;

 

 

1.             Employment

Agreement

 

1.1       Employment

 

(a)          You will hold the position of Chairman of the

Board of the Board of Directors of the Company and perform those duties as are

generally associated with such position. You agree to comply with all

applicable policies and procedures of the Company, and to devote such time,

energy and skill to your assignment as the Board of Directors of the Company

considers reasonably necessary for the performance of your duties.  Your employment hereunder with the Company

shall constitute your exclusive and full time employment.  You and the Company understand and agree

that circumstances may arise in which you and the Company may mutually agree to

change, in whole or in part, the scope of your responsibilities and the title

of your position.

 

(b)         Your employment with the Company will continue

under this Agreement until terminated by you or the Company as provided in

paragraph 2.1, below. Notwithstanding the designation of a term for this

Agreement, your employment with the Company will be on an “at will” basis with

both you and the Company retaining the right to terminate the employment

relationship at any time and for any reason, without liability on the part of

the Company or any affiliated or related corporation for the termination,

except as expressly provided in this Agreement. Your last day of employment

with the Company is referred to herein as your Separation Date.

 

1.2       Salary.  During the first term of this Agreement, you

will be paid the annualized equivalent of $275,000 as base salary, payable in

installments on regular Company paydays. The first term shall end on December

18, 2003.  Thereafter, your base salary

shall be set annually by the Board of Directors of the Company.

 

1.3       Options.  The Company grants you 100,000 options to

purchase the common stock of the Company at a strike price of $1.25 per share,

which options will vest monthly over the term of this Agreement.

 

1.4

    Benefits.  You will be given an opportunity to earn a

bonus in each calendar year during the term of this Agreement upon the

achievement of performance criteria to be established at the discretion of the

Board of Directors of the Company. You will also be eligible to receive incentive

compensation as the Board of Directors of the Company may approve from

time-to-time in its discretion, and fees associated with service on the Board

of Directors and Executive Board of Directors of the Company.  You will also be eligible to participate in

any benefit plans or programs generally available to the Company’s management

as the Board of Directors shall from time-to-time approve, which shall include

at least four weeks of paid time off (PTO) time a year and use of a Company

lease automobile.

 

2.             Termination

of Agreement

 

2.1       Termination.  The term of this Agreement shall continue

until terminated earlier as follows:

 

(a)          This Agreement may be terminated by you for

any reason upon 30 days’ written notice to the Company.

 

S-2

 

(b)         This Agreement may be terminated by the

Company for any reason at any time with 30 days’ written notice to you, subject

only to the obligation of the Company, if you are terminated for reasons other

than those specified in paragraph 2.2, to pay severance pay according to the

following formula:

 

(i)             Twelve months pay

plus an additional one month’s pay for each year of employment of you by the

Company (based on your hire date), up to a maximum of 24 months pay (the “Salary

Continuation Period”), plus (ii) all incentive compensation earned but

unpaid on or prior to the Separation Date, plus (iii) health insurance and

automobile usage for the Salary Continuation Period at the same coverage level

as in effect immediately prior to the Separation Date. Severance pay may be

paid to you at your option in a lump sum or in regular payroll period

installments.

 

(c)          This Agreement shall automatically terminate

in the event of your death or disability. 

For purposes of this Agreement, “disability” shall mean inability to

perform all or substantially all of your responsibilities for a period of more

than three (3) months.

 

(d)         Eligibility for severance pay is conditioned

upon your execution of a Release of Claims in a form provided by the Company at

the time of termination.

 

2.2       Ineligibility

for Severance Pay.  With respect

to subparagraph 2.1(b), you will not be eligible for severance pay under this

Agreement if:

 

(a)          you voluntarily resign or retire from your

employment at any time and for any reason except because of an involuntary

reduction in your base salary;

 

(b)         the Company terminates your employment for

cause (as defined in paragraph 2.3, below) or your employment terminates due to

your death or disability;

 

(c)          you breach the terms of paragraph 3; or

 

(d)         you fail or refuse to sign the Release of

Claims form provided by the Company at the time of termination.

 

2.3       Definition

of Cause.  For purposes of this

Agreement, “cause” for termination shall be defined as (i) any misappropriation

of funds or property of the Company by you; (ii) the conviction of or plea

of guilty or nolo contendere by you of a felony or of any crime involving moral

turpitude; (iii) your engagement in illegal, immoral or similar conduct

tending to place you or the Company, by association with you, in disrepute;

(iv) indulgence in alcohol or drugs to an extent that renders you unable

or unfit to perform his duties hereunder; or (v) your gross dereliction of

duty.

 

3.             Confidentiality

 

3.1       Preservation

and Non-Use of Confidential Information. 

You acknowledge that you have a fiduciary duty as an officer and

employee of the Company not to discuss Confidential Information obtained during

your employment with the Company.  For

purposes of this Agreement, “Confidential Information” means any and all

confidential or proprietary information concerning the Company or its

affiliates, joint venturers or other related entities (“The Company Group”),

the disclosure of which could disadvantage The Company Group.  Confidential Information includes trades

secrets as defined under the Uniform Trades Secrets Act.

 

Except

pursuant to your employment by the Company and as directed by the Board of

Directors of the Company, you agree not to use Confidential Information, during

the term of this Agreement or after its termination for a period of five years,

for any personal or business purpose, either for your own benefit or that of

any other person, corporation, government or other entity.

 

You also agree

that, except pursuant to your employment by the Company as directed by the

Board of Directors of the Company, you will not disclose or disseminate any

Confidential Information, directly 

 

S-3

 

or indirectly,

at any time during the term of this Agreement or after its termination, to any

person, agency, or court unless compelled to do so pursuant to legal process (e.g.,

a summons or subpoena) or otherwise required by law and then only after

providing the Company with prior notice and a copy of the legal process.

 

3.2       Covenant

not to Compete.  You also agree that

while employed by the Company, and for a period of one year after the

termination of employment, you shall not compete with the Company, either

directly or indirectly, in the geographical areas where the Company does

business, and you shall not perform services for or own an interest in any

business that does so.

 

4.             Return

of Property

 

On or before

your Separation Date, except as agreed to by the Company, you will return all

property belonging to The Company, including, but not limited to, all

documents, business machines, computers, computer hardware and software

programs, computer data, telephones (cellular, mobile or otherwise), pagers,

keys, card keys, credit cards and other Company-owned property.

 

5.             Right

To Consult with Attorney

 

You have the

right to consult with an attorney or financial advisor at your own expense

regarding this Agreement.

 

6.             Dispute

Resolution

 

You agree that

any dispute (1) concerning the interpretation or construction of this

Agreement, (2) arising from your employment with or termination of

employment from the Company, (3) relating to any compensation or benefits

you may claim, or (4) relating in any way to any claim by you for

reinstatement or reemployment by the Company after execution of this Agreement

shall be submitted to final and binding confidential arbitration.  Except as specifically provided herein, the

arbitration shall be governed by the rules of the American Arbitration

Association or such other rules as agreed to by the parties.  Each party shall be responsible for its or

his own costs and attorneys’ fees relating to mediation and arbitration.  Both parties agree that the procedures

outlined in this paragraph are the exclusive methods of dispute resolution.

 

7.             Entire

Agreement

 

This Agreement

contains the entire agreement between you and the Company concerning the

subject matters discussed herein and supersedes any other discus­sions,

agreements, representations or warranties of any kind.  Any modification of this Agreement shall be

effective only if in writing and signed by each party or its duly authorized

representative.  This Agreement

supersedes all prior employment agreements between you and the Company or any

corporation affiliated with or related to the Company.  The terms of this Agreement are contractual

and not mere recitals.  If for any

reason any provision of this Agreement shall be held invalid in whole or in

part, such invalidity shall not affect the remainder of this Agreement.

 

This Agreement

shall be construed in accordance with the laws of the state of Oregon (without

regard to the conflicts of laws provisions thereof).

 

S-4

 

In order to reflect your voluntary acceptance

and agreement with these terms, please sign and return the enclosed copy of

this Agreement. The date of this Agreement shall be December 18, 2001.

 

	

   

  	

  By:

  	

  /s/ Edward Cohen

  	

   

  
	

   

  	

   

  	

  Edward Cohen

  
	

   

  	

   

  	

  Chairman, Compensation Committee

  

 

ACKNOWLEDGMENT AND AGREEMENT:

I have read this Agreement and

voluntarily enter into this Agreement after careful consideration and the

opportunity to review it with financial or legal counsel of my choice.

 

	

   

  	

  /s/ Kenneth L. Tepper

  	

   

  
	

  Kenneth L. Tepper

  	

   

  
	

   

  	

  Executive

  

 

S-5

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