Document:

Exhibit 10.1

     

    EMPLOYMENT
AGREEMENT

    

    EMPLOYMENT AGREEMENT (the
“Agreement”), dated as of May 7, 2010, between Clarus Corporation, a Delaware
corporation (the “Company”), and Peter Metcalf (the “Employee”).

    

    WITNESSETH
:

    

    WHEREAS, the Company desires
to employ the Employee and to be assured of his services on the terms and
conditions hereinafter set forth; and

    

    WHEREAS, the Employee is
willing to accept such employment on such terms and conditions.

    

    NOW THEREFORE, in
consideration of the mutual covenants and agreements set forth in this
Agreement, the Company and the Employee hereby agree as follows:

    

    
      	
            	
              1.

            	
              Term.

            

    

    

    The term of this Agreement shall
commence and be effective only upon the closing (the “Closing”) of the
transactions contemplated by that certain Agreement and Plan of Merger (the
“Merger Agreement”), dated as of May 7, 2010, by and among the Company,
Everest/Sapphire Acquisition, LLC, a Delaware limited liability company and
wholly-owned direct subsidiary of the Company (the “Purchaser”), Sapphire Merger
Corp., a Delaware corporation and wholly-owned direct subsidiary of the
Purchaser, Black Diamond Equipment, Ltd., a Delaware corporation, and Ed McCall, as
stockholders’ representative (the “Commencement Date”) and shall terminate on
the third anniversary of the Commencement Date (the “Term”), subject to earlier
termination as provided herein.  This Agreement shall automatically
terminate, simultaneously with the termination of the Merger Agreement, if the
Closing does not occur.

    

    
      	
            	
              2.

            	
              Duties.

            

    

    

    (a)           During
the Term of this Agreement, the Employee shall serve as the President and Chief
Executive Officer of the Company and shall perform all duties commensurate with
his position and as may be assigned to him by the Executive Chairman of the
Board of Directors of the Company (the “Board”) or the Executive Vice Chairman
of the Board.  The Employee shall devote his full business time and
energies to the business and affairs of the Company and shall use his best
efforts, skills and abilities to promote the interests of the Company, and to
diligently and competently perform the duties of his position.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b)           The
Employee shall report to the Board, and shall communicate regularly with the
Executive Chairman of the Board or the Executive Vice Chairman of the
Board.

    

    
      	
            	
              3.

            	
              Compensation, Bonus,
      Stock Options, Benefits,
etc.

            

    

    

    (a)           Salary.  During
the Term of this Agreement, the Company shall pay to the Employee, and the
Employee shall accept from the Company, as compensation for the performance of
services under this Agreement and the Employee’s observance and performance of
all of the provisions hereof, an annual salary at the rate of $210,000 (the
“Base Compensation”).  The Base Compensation shall be payable in
accordance with the normal payroll practices of the Company.  The
Employee’s performance and the Base Compensation shall be subject to annual
review by the Company.

    

    (b)           Bonus.  In
addition to the Base Compensation described above, the Employee shall, in the
sole and absolute discretion of the Compensation Committee of the Board, be
entitled to performance bonuses which may be based upon a variety of factors,
including the Employee’s performance and the achievement of Company goals, all
as determined in the sole and absolute discretion of the Board or Compensation
Committee of the Board.  In addition, the Employee may be entitled to
participate in such other bonus plans, during the Term of this Agreement, as the
Compensation Committee of the Board may, in its sole and absolute discretion,
determine.

    

    (c)           Stock
Options.  Effective upon
the Commencement Date, the Company shall issue and grant to Employee options
(the “Stock Options”) to purchase 75,000 shares of the Company’s common stock,
par value $0.0001 per share (the “Common Stock”), having an exercise price equal
to $6.00 per share, which shall vest in three installments as follows: 30,000
shares shall vest on December 31, 2012 and 22,500 shares shall vest on each of
December 31, 2013 and December 31, 2014; provided, that, any unvested Stock
Options shall accelerate and vest in the event that this Agreement has not been
renewed upon its scheduled expiration date; and, provided further, that all
Stock Options shall expire on the tenth anniversary of the Commencement
Date.  The terms and provisions of the Stock Options shall be set
forth in a stock option agreement in a form satisfactory to the
Company.  In addition, the Employee may be entitled, during the Term
of this Agreement, to receive such additional options, at such exercise prices
and other terms as the Compensation Committee of the Board may, in its sole and
absolute discretion, determine.

    

    (d)           Benefits.  During
the Term of this Agreement, the Employee shall be entitled to participate in or
benefit from, in accordance with the eligibility and other provisions thereof,
the Company’s medical insurance and other fringe benefit plans or policies as
the Company may make available to, or have in effect for, its senior executive
officers from time to time.  The Company and its affiliates retain the
right to terminate or alter any such plans or policies from time to
time.  The Employee shall also be entitled to four weeks paid vacation
each year, sick leave and other similar benefits in accordance with policies of
the Company from time to time in effect for its senior executive
officers.  Upon the Employee’s retirement from active service with the
Company, except in the case of a termination of this Agreement by the Company
pursuant to Section 7(b) hereof, the Company shall provide the Employee with the
same form of medical and dental insurance as the Company may make available to,
or have in effect for, its senior executive officers from time to time for a
period commencing on such retirement and ending on the Employee’s sixty-fifth
(65th) birthday (the “Benefit Period”) at no cost to the Employee.  In
addition, during the Benefit Period, the Employee shall have the option to
purchase, at the Employee’s expense, medical and dental insurance through the
Company for his wife and children in the same manner as other senior executive
officers of the Company may purchase medical and dental insurance through the
Company.

     

    
      
        
        

      

      
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    (e)           Reimbursement
of Business Expenses.  During the Term
of this Agreement, upon submission of proper invoices, receipts or other
supporting documentation reasonably satisfactory to the Company and in
accordance with and subject to the Company’s expense reimbursement policies, the
Employee shall be reimbursed by the Company for all reasonable business expenses
actually and necessarily incurred by the Employee on behalf of the Company in
connection with the performance of services under this Agreement.

    

    (f)           Taxes.  The Base
Compensation and any other compensation paid to Employee, including, without
limitation, any bonus, shall be subject to withholding for applicable taxes and
other amounts.

    

    
      	
            	
              4.

            	
              Representations
      of Employee.

            

    

    

    The Employee represents and warrants
that he is not party to, or bound by, any agreement or commitment, or subject to
any restriction, including but not limited to agreements related to previous
employment containing confidentiality or noncompetition covenants, which limit
the ability of the Employee to perform his duties under this
Agreement.

    

    
      	
            	
              5.

            	
              Confidentiality,
      Noncompetition, Nonsolicitation and
    Non-Disparagement.

            

    

    

    For purposes of this Section 5, all
references to the Company shall be deemed to include the Company’s affiliates
and subsidiaries and their respective subsidiaries, whether now existing or
hereafter established or acquired. In consideration for the compensation and
benefits provided to the Employee pursuant to this Agreement, the Employee
agrees with the provisions of this Section 5.

     

    
      
        
        

      

      
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    (a)           Confidential
Information.  (i)  The Employee acknowledges that as
a result of his retention by the Company, the Employee has and will continue to
have knowledge of, and access to, proprietary and confidential information of
the Company including, without limitation, research and development plans and
results, software, databases, technology, inventions, trade secrets, technical
information, know-how, plans, specifications, methods of operations, product and
service information, product and service availability, pricing information
(including pricing strategies), financial, business and marketing information
and plans, and the identity of customers, clients and suppliers (collectively,
the “Confidential Information”), and that the Confidential Information, even
though it may be contributed, developed or acquired by the Employee, constitutes
valuable, special and unique assets of the Company developed at great expense
which are the exclusive property of the Company.  Accordingly, the
Employee shall not, at any time, either during or subsequent to the Term of this
Agreement, use, reveal, report, publish, transfer or otherwise disclose to any
person, corporation, or other entity, any of the Confidential Information
without the prior written consent of the Company, except to responsible officers
and employees of the Company and other responsible persons who are in a
contractual or fiduciary relationship with the Company and who have a need for
such Confidential Information for purposes in the best interests of the Company,
and except for such Confidential Information which is or becomes of general
public knowledge from authorized sources other than by or through the
Employee.

     

     (ii)  The Employee
acknowledges that the Company would not enter into this Agreement without the
assurance that all the Confidential Information will be used for the exclusive
benefit of the Company.

    

    (b)           Return of
Confidential Information.  Upon the termination of this
Agreement or upon the request of the Company, the Employee shall promptly return
to the Company all Confidential Information in his possession or control,
including but not limited to all drawings, manuals, computer printouts, computer
databases, disks, data, files, lists, memoranda, letters, notes, notebooks,
reports and other writings and copies thereof and all other materials relating
to the Company’s business, including, without limitation, any materials
incorporating Confidential Information.

    

    (c)           Inventions,
etc.  During the Term and for a period of one year thereafter,
the Employee will promptly disclose to the Company all designs, processes,
inventions, improvements, developments, discoveries, processes, techniques, and
other information related to the business of the Company conceived, developed,
acquired, or reduced to practice by him alone or with others during the Term of
this Agreement, whether or not conceived during regular working hours, through
the use of Company time, material or facilities or otherwise
(“Inventions”).

     

    
      
        
        

      

      
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    The Employee agrees that all copyrights
created in conjunction with his service to the Company and other Inventions, are
“works made for hire” (as that term is defined under the Copyright Act of 1976,
as amended).  All such copyrights, trademarks, and other Inventions
shall be the sole and exclusive property of the Company, and the Company shall
be the sole owner of all patents, copyrights, trademarks, trade secrets, and
other rights and protection in connection therewith.  To the extent
any such copyright and other Inventions may not be works for hire, the Employee
hereby assigns to the Company any and all rights he now has or may hereafter
acquire in such copyrights and any other Inventions. Upon request the Employee
shall deliver to the Company all drawings, models and other data and records
relating to such copyrights, trademarks and Inventions. The Employee further
agrees as to all such Inventions, to assist the Company in every proper way (but
at the Company’s expense) to obtain, register, and from time to time enforce
patents, copyrights, trademarks, trade secrets, and other rights and protection
relating to said Inventions in any and all countries, and to that end the
Employee shall execute all documents for use in applying for and obtaining such
patents, copyrights, trademarks, trade secrets and other rights and protection
on and enforcing such Inventions, as the Company may reasonably request,
together with  any assignments thereof to the Company or persons
designated by it.  Such obligation to assist the Company shall
continue beyond the termination of the Employee’s service to the Company, but
the Company shall compensate the Employee at a reasonable rate after termination
of service for time actually spent by the Employee at the Company’s request for
such assistance. In the event the Company is unable, after reasonable effort, to
secure the Employee’s signature on any document or documents needed to apply for
or prosecute any patent, copyright, trademark, trade secret, or other right or
protection relating to an Invention, whether because of the Employee’s physical
or mental incapacity or for any other reason whatsoever, the Employee hereby
irrevocably designates and appoints the Company and its duly authorized officers
and agents, during the Term of this Agreement and for a period of two years
after termination of this Agreement, as his agent coupled with an interest and
attorney-in-fact, to act for and in his behalf and stead to execute and file any
such application or applications and to do all other lawfully permitted acts to
further the prosecution and issuance of patents, copyrights, trademarks, trade
secrets, or similar rights or protection thereon with the same legal force and
effect as if executed by the Employee.

    

    (d)           Non-Competition.   The
Employee agrees not to utilize his special knowledge of the Business and his
relationships with customers, prospective customers, suppliers and others or
otherwise to compete with the Company in the Business during the Restricted
Period.  During the Restricted Period, the Employee shall not, and
shall not permit any of his respective employees, agents or others under his
control, directly or indirectly, on behalf of the Employee or any other Person,
to engage or have an interest, anywhere in the world in which the Company
conducts business or markets or sells its products, alone or in association with
others, as principal, officer, agent, employee, director, partner or stockholder
(except as an owner of two percent or less of the stock of any company listed on
a national securities exchange or traded in the over-the-counter market),
whether through the investment of capital, lending of money or property,
rendering of services or capital, or otherwise, in any Competitive
Business.  During the Restricted Period, the Employee shall not, and
shall not permit any of his respective employees, agents or others under his
control, directly or indirectly, on behalf of the Employee or any other Person,
to accept Competitive Business from, or solicit the Competitive Business of any
Person who is a customer of the Business conducted by the Company, or, to the
Employee’s knowledge, is a customer of the Business conducted by the Company at
any time during the Restricted Period. 

    

    (e)           Non-Disparagement
and Non-Interference.  The Employee shall not, either directly
or indirectly, (i) during the Restricted Period, make or cause to be made, any
statements that are disparaging or derogatory concerning the Company or its
business, reputation or prospects; (ii) during the Restricted Period, request,
suggest, influence or cause any party, directly or indirectly, to cease doing
business with or to reduce its business with the Company or do or say anything
which could reasonably be expected to damage the business relationships of the
Company; or (iii) at any time during or after the Restricted Period, use or
purport to authorize any Person to use any Intellectual Property owned by the
Company or exclusively licensed to the Company or to otherwise infringe on the
intellectual property rights of the Company.

     

    
      
        
        

      

      
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    (f)           Non-Solicitation. During the Restricted
Period, the Employee shall not recruit or otherwise solicit or induce any Person
who is an employee or consultant of, or otherwise engaged by Company, to
terminate his or her employment or other relationship with the Company, or such
successor, or hire any person who has left the employ of the Company during the
preceding one year.

    .

    (g)           Certain
Definitions. For purposes of this
Agreement: (i) the term “Business” shall mean the business of manufacturing,
assembling, licensing, distributing, marketing and selling mountain climbing,
hiking and skiing equipment, and any other business that the Company or its
subsidiaries may be engaged in during the Term of this Agreement; (ii) the term
“Competitive Business” shall mean any business competitive with the Business and
(iii) the term “Restricted Period” shall mean the Term of this Agreement and a
period of two years after termination of this Agreement; provided, that, if
Employee breaches the covenants set forth in this Section 5, the Restricted
Period shall be extended for a period equal to the period that a court having
jurisdiction has determined that such covenant has been breached.

    

    6.           Remedies.    The
restrictions set forth in Section 5 are considered by the parties to be fair and
reasonable.  The Employee acknowledges that the restrictions contained
in Section 5 will not prevent him from earning a livelihood.  The
Employee further acknowledges that the Company would be irreparably harmed and
that monetary damages would not provide an adequate remedy in the event of a
breach of the provisions of Section 5.  Accordingly, the Employee
agrees that, in addition to any other remedies available to the Company, the
Company shall be entitled to injunctive and other equitable relief to secure the
enforcement of these provisions.  In connection with seeking any such
equitable remedy, including, but not limited to, an injunction or specific
performance, the Company shall not be required to post a bond as a condition to
obtaining such remedy.  In any such litigation, the prevailing party
shall be entitled to receive an award of reasonable attorneys’ fees and
costs.  If any provisions of Sections 5 or 6 relating to the time
period, scope of activities or geographic area of restrictions is declared by a
court of competent jurisdiction to exceed the maximum permissible time period,
scope of activities or geographic area, the maximum time period, scope of
activities or geographic area, as the case may be, shall be reduced to the
maximum which such court deems enforceable. If any provisions of Sections 5 or 6
other than those described in the preceding sentence are adjudicated to be
invalid or unenforceable, the invalid or unenforceable provisions shall be
deemed amended (with respect only to the jurisdiction in which such adjudication
is made) in such manner as to render them enforceable and to effectuate as
nearly as possible the original intentions and agreement of the
parties.  For purposes of this Section 6, all references to the
Company shall be deemed to include the Company's affiliates and subsidiaries,
whether now existing or hereafter established or acquired.

     

    
      
        
        

      

      
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    7.           Termination.   This
Agreement shall terminate at the end of the Term set forth in Section
1.  In addition, this Agreement may be terminated prior to the end of
the Term set forth in Section 1 upon the occurrence of any of the events set
forth in, and subject to the terms of, this Section 7.

    

    (a)           Death or
Permanent Disability.  If the Employee
dies or becomes permanently disabled, this Agreement shall terminate effective
upon the Employee’s death or when his disability is deemed to have become
permanent.  If the Employee is unable to perform his normal duties for
the Company because of illness or incapacity (whether physical or mental) for 45
consecutive days during the Term of this Agreement, or for 60 days (whether or
not consecutive) out of any calendar year during the Term of this Agreement, his
disability shall be deemed to have become permanent.  If this
Agreement is terminated on account of the death or permanent disability of the
Employee, then the Employee or his estate shall be entitled to receive accrued
Base Compensation through the date of such termination, all unvested Stock
Options held by the Employee shall immediately vest and become exercisable and
the Employee or the Employee’s estate, as applicable, shall have no further
entitlement to Base Compensation, bonus, or benefits from the Company following
the effective date of such termination, except as provided in Sections 3(b) and
3(d) of this Agreement; provided, however, that any
bonus pursuant to Section 3(b) of this Agreement shall be paid only for the year
in which such termination occurred pro rated for the portion of such year prior
to such termination and shall be paid at such time as the Board determines the
bonuses for all senior executive officers of the Company for such
year.

    

    (b)           Cause.  This
Agreement may be terminated at the Company’s option, immediately upon notice to
the Employee, upon the occurrence of any of the following (“Cause”): (i) breach
by the Employee of any material provision of this Agreement and the expiration
of a 10-business day cure period for such breach after written notice thereof
has been given to the Employee (which cure period shall not be applicable to
clauses (ii) through (v) of this Section 7(b)); (ii) gross negligence or willful
misconduct of the Employee in connection with the performance of his duties
under this Agreement; (iii) Employee’s failure to perform any reasonable
directive of the Board; (iv) fraud, criminal conduct, dishonesty or embezzlement
by the Employee; or (v) Employee’s misappropriation for personal use of any
assets (having in excess of nominal value) or business opportunities of the
Company.  If this Agreement is terminated by the Company for Cause,
then the Employee shall be entitled to receive accrued Base Compensation through
the date of such termination, all Stock Options, whether vested or unvested,
will be forfeited by the Employee and will terminate and be null and void and
the Employee shall have no further entitlement to Base Compensation, bonus, or
benefits from the Company following the effective date of such
termination.

    

    (c)           Without
Cause.  This Agreement may be terminated, at any time by the
Company without Cause immediately upon giving written notice to the Employee of
such termination.  Upon the termination of this Agreement by the
Company without Cause, the Employee shall be entitled to receive one year of
Base Compensation in one lump sum within five days of the effective date of such
termination, subject to withholding for applicable taxes and other amounts, all
unvested Stock Options held by the Employee shall immediately vest and become
exercisable and the Employee shall have no further entitlement to Base
Compensation, bonus, or benefits from the Company following the effective date
of such termination, except as provided in Section 3(d) of this
Agreement.

     

    
      
        
        

      

      
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    (d)          By
Employee.

    

    (i)           Subject
to the provisions of clause (ii) of this Section 7(d), the Employee may
terminate this Agreement at anytime upon providing the Company with six weeks
prior written notice. If this Agreement is terminated by the Employee pursuant
to this Section 7(d)(i), then the Employee shall be entitled to receive his
accrued Base Compensation and benefits through the effective date of such
termination, any unvested Stock Options will terminate and be null and void and
the Employee shall have no further entitlement to Base Compensation, bonus, or
benefits from the Company following the effective date of such termination,
except as provided in Section 3(d) of this Agreement.

    

    (ii)           The
Employee may terminate this Agreement upon the occurrence of any of the
following: (A) a breach by the Company of any material provision of this
Agreement and the expiration of a 10-business day cure period for such breach
after written notice thereof has been given to the Company by the Employee; (B)
any material diminution in the authority or responsibilities delegated to the
Employee as the chief executive officer of the Company; or (C) any reduction in
the Employee’s Base Compensation.  Upon the termination of this
Agreement by the Employee pursuant to this Section 7(d)(ii), the Employee shall
be entitled to receive one year of Base Compensation in one lump sum within five
days of the effective date of such termination, subject to withholding for
applicable taxes and other amounts, all unvested Stock Options held by the
Employee shall immediately vest and become exercisable and the Employee shall
have no further entitlement to Base Compensation, bonus, or benefits from the
Company following the effective date of such termination, except as provided in
Section 3(d) of this Agreement.

    

    (e)           Change in
Control.  Upon the
occurrence of a Change in Control (as hereinafter defined), the Employee shall
have the right to terminate this Agreement.  Upon the termination of
this Agreement by the Employee due to the occurrence of a Change in Control, the
Employee shall be entitled to receive one year of Base Compensation in one lump
sum within five days of the effective date of such termination, subject to
withholding for applicable taxes and other amounts and all unvested Stock
Options held by the Employee shall immediately vest and become
exercisable.  For purposes of this Agreement, a “Change in Control” of
the Company shall be deemed to have occurred in the event that: (i) individuals
who, as of the date hereof, constitute the Board cease for any reason to
constitute at least a majority of the Board; provided, however, that any
individual becoming a director subsequent to the date hereof whose election, or
nomination for election by the Company’s stockholders, was approved by a vote of
at least a majority of the directors then comprising the Board shall be
considered as though such individual was a member of the Board as of the date
hereof; (ii) the Company shall have been sold by either (A) a sale of all or
substantially all its assets, or (B) a merger or consolidation, other than any
merger or consolidation pursuant to which the Company acquires another entity,
or (C) a tender offer, whether solicited or unsolicited; or (iii) any party,
other than the Company, is or becomes the “beneficial owner” (as defined in Rule
13d-3 under the Securities Exchange Act of 1934, as amended), directly or
indirectly, of voting securities of the Company representing 50% or more of the
total voting power of all the then-outstanding voting securities of the
Company.

     

    
      
        
        

      

      
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    (f)           Return of
Payments and Cancellation of Benefits.  In the event that the
Employee fails to comply with any of his obligations under this Agreement,
including, without limitation, the covenants contained in Section 5 hereof, the
Employee shall repay to the Company the one year Base Compensation lump sum
payment received by the Employee from the Company pursuant to Section 7(c),
7(d)(ii) or Section 7(e) hereof as of the date of such failure to comply, the
Company’s obligation to provide the benefits under Section 3(d) hereof will
terminate and be null and void as of such date, and the Employee will have no
further rights in or to such amounts and benefits.

    

    8.       
     Key Man
Life Insurance.  The Employee
acknowledges that the Company will seek to obtain key man life insurance policy
on his life with the Company as the named beneficiary in an amount to be
determined by the Board up to a maximum amount of Ten Million Dollars
($10,000,000).  The Employee hereby agrees to provide such information
and to submit to such medical examinations and otherwise use his best efforts to
cooperate as may be required to assist the Company in obtaining such
policy.

    

    
      	
            	
              9.

            	
              Miscellaneous.

            

    

    

    (a)  Survival.  The provisions of
Sections 4, 5, 6, 7 and 9 and the last two sentences of Section 3(d) shall
survive the termination of this Agreement.

    

    (b)  Entire
Agreement.  This Agreement
sets forth the entire understanding of the parties and, except as specifically
set forth herein, merges and supersedes any prior or contemporaneous agreements
between the parties pertaining to the subject matter hereof.

    

    (c) Modification.  This Agreement
may not be modified or terminated orally, and no modification, termination or
attempted waiver of any of the provisions hereof shall be binding unless in
writing and signed by the party against whom the same is sought to be
enforced.

    

    (d) Waiver.  Failure of a
party to enforce one or more of the provisions of this Agreement or to require
at any time performance of any of the obligations hereof shall not be construed
to be a waiver of such provisions by such party nor to in any way affect the
validity of this Agreement or such party’s right thereafter to enforce any
provision of this Agreement, nor to preclude such party from taking any other
action at any time which it would legally be entitled to take.

     

    
      
        
        

      

      
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    (e)  Successors
and Assigns.  Neither party
shall have the right to assign this Agreement, or any rights or obligations
hereunder, without the consent of the other party; provided, however, that upon
the sale of all or substantially all of the assets, business and goodwill of the
Company to another company, or upon the merger or consolidation of the Company
with another company, this Agreement shall inure to the benefit of, and be
binding upon, both Employee and the company purchasing such assets, business and
goodwill, or surviving such merger or consolidation, as the case may be, in the
same manner and to the same extent as though such other company were the
Company;  and provided, further, that the
Company shall have the right to assign this Agreement to any affiliate or
subsidiary of the Company.  Subject to the foregoing, this Agreement
shall inure to the benefit of, and be binding upon, the parties hereto and their
legal representatives, heirs, successors and assigns.

    

    (f) Communications.  All notices,
requests, demands and other communications under this Agreement shall be in
writing and shall be deemed to have been given at the time personally delivered
or when mailed in any United States post office enclosed in a registered or
certified postage prepaid envelope and addressed to the addresses set forth
below, or to such other address as any party may specify by notice to the other
party; provided, however, that any notice of change
of address shall be effective only upon receipt.

    

    
      
        	
                If
      to the Company:

              	 
      	
                With
      a copy to:

              
	 
      	 
      	 
      
	
                Clarus
      Corporation

              	 
      	
                Kane
      Kessler, P.C.

              
	
                One
      Landmark Square

              	 
      	
                1350
      Avenue of the Americas

              
	
                Stamford,
      Connecticut 06901

              	 
      	
                New
      York, New York  10019

              
	
                Facsimile:
      (203) 428-2024

              	 
      	
                Facsimile:
      (212) 245-3009

              
	
                Attention:  Warren
      B. Kanders

              	 
      	
                Attention:
      Robert L. Lawrence, Esq.

              
	 
      	 
      	 
      
	
                If
      to the Employee:

              	 
      	
                With
      a copy to:

              
	 
      	 
      	 
      
	
                Peter
      Metcalf

              	 
      	 
      
	
                _____________

              	 
      	
                ______________

              
	
                _____________

              	 
      	
                ______________

              
	
                _____________

              	 
      	
                _____________

              

      

    

    

    (g) Severability.  If any provision
of this Agreement is held to be invalid or unenforceable by a court of competent
jurisdiction, such invalidity or unenforceability shall not affect the validity
and enforceability of the other provisions of this Agreement and the provisions
held to be invalid or unenforceable shall be enforced as nearly as possible
according to its original terms and intent to eliminate such invalidity or
unenforceability.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    (h) Jurisdiction;
Venue.  This Agreement
shall be subject to the non-exclusive jurisdiction of the federal courts or
state courts of the State of Delaware, County of New Castle, for the purpose of
resolving any disputes among them relating to this Agreement or the transactions
contemplated by this Agreement and waive any objections on the grounds of forum
non conveniens or otherwise.  The parties hereto agree to service of
process by certified or registered United States mail, postage prepaid,
addressed to the party in question.  The prevailing party in any
proceeding instituted in connection with this Agreement shall be entitled to an
award of its/his reasonable attorneys’ fees and costs.

    

    (i) Governing
Law.  This Agreement is made and executed and shall be governed
by the laws of the State of Delaware, without regard to the conflicts of law
principles thereof.

    

    (j) Counterparts.  This Agreement
may be executed in any number of counterparts (and by facsimile or other
electronic signature), but all counterparts will together constitute but one
agreement.

    

    (k)  Third
Party Beneficiaries.  This Agreement is
for the sole and exclusive benefit of the parties hereto and, except as provided
herein, shall not be deemed for the benefit of any other person or
entity.

    

    (l)  Headings
and References.  The headings
contained in this Agreement are for reference purposes only and shall not affect
in any way the meaning or interpretation of this
Agreement.  References in this Agreement to any section refer to such
section of this Agreement unless the context otherwise requires.

    

    (m)  IRC
Section 409A.  The parties to
this Agreement intend that the Agreement complies with Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”), where applicable, and
this Agreement shall be interpreted in a manner consistent with that
intention.  Notwithstanding any provision of this Agreement, no
payment or other distribution required to be made to the Employee hereunder
(including any payment of cash, any transfer of property and any provision of
taxable benefits) as a result of his termination with the Company shall be made
prior to the earliest date that Employee may receive such payments without a
penalty, remedial measure or similar effect being imposed against the Company or
the Employee pursuant to Section 409A of the Code.

    

    (n)  Participation
of the Parties.  The parties
hereto acknowledge and agree that (i) this Agreement and all matters
contemplated herein have been negotiated among all parties hereto and their
respective legal counsel, if any, (ii) each party has had, or has been afforded
the opportunity to have, this Agreement and the transactions contemplated hereby
reviewed by independent counsel of its own choosing, (iii) all such parties have
participated in the drafting and preparation of this Agreement from the
commencement of negotiations at all times through the execution hereof, and (iv)
any ambiguities contained in this Agreement shall not be construed against any
party hereto.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    [SIGNATURE
PAGE FOLLOWS]

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    IN WITNESS WHEREOF, each of
the parties hereto has duly executed this Employment Agreement as of the date
set forth above.

    

    
      
        
          	
                  Clarus
      Corporation

                	 
      	
                  Employee

                
	 
      	 
      	 
      	 
      
	
                  By:  

                	
                  /s/ Philip A. Baratelli

                	 
      	
                  /s/ Peter Metcalf

                
	 
      	
                  Name:
      Philip A. Baratelli

                	 
      	
                  Peter
      Metcalf

                
	 
      	
                  Title:
      Chief Financial OfficerExhibit
10.2

     

    Company
Stockholders’ Support Agreement

    (Metcalf,
Duff & Peay)

    

    Agreement,
dated as of May 8, 2010 (this “Agreement”), by and
among each of Peter Metcalf, an individual residing in the State of Utah (“Metcalf”), Philip
Duff, an individual residing in the State of Connecticut (“Duff”) and Robert
Peay, an individual residing in the State of Utah (“Peay”, and
collectively with Metcalf and Duff, the “Designated Officer/Director
Principal Stockholders” and each individually a “Designated Officer/Director
Principal Stockholder”); and Everest/Sapphire
Acquisition, LLC, a Delaware limited liability company (“Purchaser”).

    

    Capitalized
terms not defined herein shall have the meanings ascribed to such terms in that
certain Agreement and Plan of Merger, dated as of May 7, 2010 (the “Merger Agreement”),
by and among Clarus
Corporation, a Delaware corporation (“Purchaser Parent”);
Purchaser; Sapphire
Merger Corp., a Delaware Corporation and wholly owned Subsidiary of
Purchaser (“Merger
Sub”); Black
Diamond Equipment, Ltd.,
a Delaware corporation (“Company”); and Ed
McCall, an individual, in his capacity as Stockholders’ Representative (“Stockholders’
Representative”).

    

    Recitals

    

    Whereas,
Purchaser Parent, Purchaser, Merger Sub, the Company and the Stockholders’
Representative have entered into the Merger Agreement pursuant to which, upon
satisfaction of the conditions specified therein, at the Closing, in exchange
for the payment of the Merger Consideration, Merger Sub will merge with and into
the Company with the effect that the Company will be the Surviving Corporation
and a wholly owned subsidiary of Purchaser; and

    

    Whereas,
the Designated Officer/Director Principal Stockholders are Stockholders of the
Company as well as officers and/or directors of the Company and will benefit
directly and indirectly from the Merger Agreement, the Merger and the
transactions contemplated thereby; and

    

    Whereas,  as
a condition to the Purchaser’s obligations for Closing under the terms of the
Merger Agreement, the Purchaser desires that, among other things, the business
of the Company and the Company Subsidiaries remain intact after the Closing;
and

    

    Whereas,
in order to induce Purchaser to not terminate the Merger Agreement and to effect
the Merger upon the satisfaction of the terms and conditions of the Merger
Agreement (subject to any right to terminate the Merger Agreement as set forth
therein), the Designated Officer/Director Principal Stockholders are entering
into this Agreement.

    

    Now,
Therefore, in consideration of the mutual covenants set forth herein, it
is hereby agreed as follows:

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    1.           Restrictive
Covenants.

    

    (a)  Non-Competition.  Each
Designated Officer/Director Principal Stockholder acknowledges that in order to
help assure Purchaser that the Company will retain the value of the Company as a
“going concern,” each Designated Officer/Director Principal Stockholder agrees
not to utilize his special knowledge of the Business and his relationships with
customers, prospective customers, suppliers and others or otherwise to compete
with the Company in the Business during the Restricted Period.  During
the Restricted Period, each Designated Officer/Director Principal Stockholder
shall not, and shall not permit any of his respective employees, agents or
others under his control, directly or indirectly, on behalf of such Designated
Officer/Director Principal Stockholder or any other Person, to engage or have an
interest, anywhere in the world in which the Company conducts business or
markets or sells its products as of the Closing Date, alone or in association
with others, as principal, officer, agent, employee, director, partner or
stockholder (except (i) solely with respect to Metcalf and Peay, as an owner of
two percent or less of the stock of any company listed on a national securities
exchange or traded in the over-the-counter market and (ii) solely with respect
to Duff, as an owner of equity interests in one or more entities in which he
does not have the power to direct or cause the direction of the management and
policies of any such entity, whether through the ownership of voting securities,
by contract or otherwise), whether through the investment of capital, lending of
money or property, rendering of services or capital, or otherwise, in any
Competitive Business.  During the Restricted Period, each Designated
Officer/Director Principal Stockholder shall not, and shall not permit any of
his respective employees, agents or others under his control, directly or
indirectly, on behalf of such Designated Officer/Director Principal Stockholder
or any other Person, to accept Competitive Business from, or solicit the
Competitive Business of any Person who at Closing is a customer of the Business
conducted by the Company, or, to such Designated Officer/Director Principal
Stockholder’s knowledge, is a customer of the Business conducted by the Company
at any time during the Restricted Period. 

    

    (b)           Non-Disparagement and
Non-Interference.  Each Designated Officer/Director Principal
Stockholder shall not, either directly or indirectly, (i) during the Restricted
Period, make or cause to be made, any statements that are disparaging or
derogatory concerning the Company or its business, reputation or prospects; (ii)
during the Restricted Period, request, suggest, influence or cause any party,
directly or indirectly, to cease doing business with or to reduce its business
with the Company or do or say anything which could reasonably be expected to
damage the business relationships of the Company; or (iii) at any time during or
after the Restricted Period, use or purport to authorize any Person to use any
Intellectual Property owned by the Company or exclusively licensed to the
Company or to otherwise infringe on the intellectual property rights of the
Company.

    

    (c)           Non-Solicitation.  During
the Restricted Period, each Designated Officer/Director Principal Stockholder
shall not recruit or otherwise solicit or induce any Person who is an employee
or consultant of, or otherwise engaged by Company, to terminate his or her
employment or other relationship with the Company, or such successor, or hire
any person who has left the employ of the Company during the preceding one
year.

    

    (d)           Certain
Definitions.  For purposes of this Agreement: (i) the term
“Business”
shall mean the business of manufacturing, assembling, licensing, distributing,
marketing and selling mountain climbing, hiking and skiing equipment; (ii) the
term “Competitive
Business” shall mean any business competitive with the Business and (iii)
the term “Restricted
Period” shall mean (i) for Metcalf and Duff (with respect to Sections
1(b) and 1(c) only in the case of Duff), a consecutive three year
period commencing on the Closing Date (subject to the extension provisions in
Section 7(a) hereof), and (ii) for Peay and Duff (with respect to Section 1(a)
only in the case of Duff), a one year period commencing on the Closing Date
(subject to the extension provisions in Section 7(a) hereof).  For
purposes of Section 1 and Section 2 of this Agreement only, all references to
the Company shall be deemed to include each Company Subsidiary and each of their
respective successors and assigns, including, without limitation, the Surviving
Corporation, and all references to a Designated Officer/Director Principal
Stockholder shall be deemed to include all Affiliates of such Designated
Officer/Director Principal Stockholder.

    
      
         

      

      
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    2.           Confidentiality.  Each
Designated Officer/Director Principal Stockholder acknowledges that the
intangible property and all other confidential or proprietary information with
respect to the Business of the Company are valuable, special and unique assets
of Company.  The Designated Officer/Director Principal Stockholders
shall not, at any time after the Closing Date, disclose, directly or indirectly,
to any Person, or use or purport to authorize any Person to use any confidential
or proprietary information with respect to the Company, whether or not for their
own benefit, without the prior written consent of the Purchaser unless required
by Law, including, without limitation, (a) Trade Secrets, intangible property,
marketing plans, business plans and strategies; (b) confidential or proprietary
information relating to products or services; (c) the names of customers and
contacts, vendors and suppliers, the cost of materials and labor, the prices
obtained for services sold (including the methods used in price determination,
manufacturing and sales costs), compensation paid to employees and consultants
and other terms of employment, production operation techniques or any other
confidential or proprietary information of, about or pertaining to the Business,
and any other confidential or proprietary information and material relating to
any customer, vendor, licensor, licensee, or other party in connection with the
Business; and (d) any other confidential or propriety information which such
Designated Officer/Director Principal Stockholder acquired or developed in
connection with or as a result of his being a shareholder, officer, director,
employee, agent or representative of the Company, excepting in each instance (a)
– (d) only such information as (i) is already known to the public or which may
become known to the public without any fault of such Designated Officer/Director
Principal Stockholder in violation of any confidentiality restrictions, (ii) (A)
was available to such Designated Officer/Director Principal Stockholder (prior
to its delivery to such Designated Officer/Director Principal Stockholder by the
Company) or (B) becomes available to an Designated Officer/Director Principal
Stockholder, in each instance (A) or (B) on a non-confidential basis from a
Person other than the Company who is not otherwise bound by a confidentiality
agreement with respect to such information or is otherwise prohibited from
transmitting the information to such Designated Officer/Director Principal
Stockholder, or (C) can be proven to have been independently developed by such
Designated Officer/Director Principal Stockholder without reference to such
information.

     

    3.           Representations and
Warranties.  In order to induce Purchaser to enter into this
Agreement, not terminate the Merger Agreement and to effect the Merger upon
satisfaction of the terms and conditions of the Merger Agreement (subject to
Purchaser’s right to terminate the Merger Agreement as set forth therein), and
the transactions contemplated by the Merger Agreement, each Designated
Officer/Director Principal Stockholder represents and warrants to Purchaser,
severally and not jointly and as to themselves and not as to any other
Designated Officer/Director Principal Stockholder, that the following
representations and warranties are true as of the date hereof and will be true
as of the Closing:

     

    (a)           Capacity; Authorization;
Enforceability.  Such Designated Officer/Director Principal
Stockholder is of legal age and capacity and has all requisite power and
authority to execute, deliver and perform this Agreement and each of his
obligations under this Agreement.  This Agreement has been duly and
validly executed and delivered by such Designated Officer/Director Principal
Stockholder, and constitutes the legal, valid and binding obligation of such
Designated Officer/Director Principal Stockholder, enforceable against him in
accordance with its respective terms, except as such enforcement may be limited
by bankruptcy, insolvency, reorganization, or other similar Laws affecting or
relating to the rights of creditors generally or by general principles of
equity.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    (b)           Company Common Stock
Ownership.  The shares of Company Common Stock listed on Schedule 3(b)
opposite such Designated Officer/Director Principal Stockholder’s name (i) are
owned beneficially by such Designated Officer/Director Principal Stockholder;
(ii) constitute all of the shares of capital stock of the Company and each
Company Subsidiary that are owned beneficially by such Designated
Officer/Director Principal Stockholder, and (iii) except with respect to shares
of Company Common Stock indicated on Schedule 3(b) as
being held in the Black Diamond Equipment, Ltd. Profit Sharing Plan (the “Company 401(k) Plan”)
for the benefit of such Designated Officer/Director Principal Stockholder (the
“401(k)
Shares”) which are held legally and of record by the custodian thereof,
are owned legally and of record by such Designated Officer/Director Principal
Stockholder.  Such Designated Officer/Director Principal Stockholder
has all right, title and interest in and to such shares of Company Common Stock
free and clear of all Liens and free of any other restriction, except for
restrictions imposed by applicable securities Laws; provided, that with
respect to the 401(k) Shares, the custodian under the Company’s 401(k) Plan has
legal title to the 401(k) Shares for the benefit of such Designated
Officer/Director Principal Stockholder and the title to and transfer of the
401(k) Shares are subject to the terms and conditions of the Company 401(k)
Plan.  Such Designated Officer/Director Principal Stockholder has not
granted or acknowledged to any Person any Rights with respect to any shares of
capital stock of the Company (other than (i) Rights granted to the custodian
prior to the date hereof pursuant to the Company 401(k) Plan with respect to his
401(k) Shares and (ii) to Purchaser pursuant to any Company Stockholders’ Option
Agreement executed and delivered to Purchaser by such Designated
Officer/Director Principal Stockholder) and such Designated Officer/Director
Principal Stockholder has sole voting power and sole power to issue instructions
with respect to the matters set forth herein, sole power of disposition, sole
power of conversion, sole power to demand appraisal rights and sole power to
agree to all of the matters set forth in this Agreement with respect to such
Designated Officer/Director Principal Stockholder’s shares of capital stock of
the Company with no limitations, qualifications or restrictions on such rights
other than, with respect to his 401(k) Shares, any rights granted to the
custodian prior to the date hereof under the Company’s 401(k) Plan.

     

    (c)           No
Conflicts.  Except for the limitation contained in Section 7.4
of the Bylaws of the Company (which the parties hereto anticipate will be
removed prior to Closing by action of the Board of Directors of the Company),
the execution, delivery and performance of this Agreement by such Designated
Officer/Director Principal Stockholder, the delivery of such Designated
Officer/Director Principal Stockholder’s written consent to the Merger Agreement
and the Merger, and the consummation of the transactions contemplated hereby and
thereby do not and will not (i) violate, or be in conflict with, or constitute a
default under, or result in, or provide the basis for, the termination of, any
of its obligations under any material Contract to which such Designated
Officer/Director Principal Stockholder is a party; or (ii) violate any Law or
Order of any Governmental Authority applicable to such Designated
Officer/Director Principal Stockholder, or require the consent, approval or
action of, filing with or notice to any Governmental Authority or other Person
in order for such Designated Officer/Director Principal Stockholder to
consummate the transactions contemplated by this Agreement.

     

     (d)           Disclosure Under the Securities and
Exchange Act.  During the past ten years, such Designated
Officer/Director Principal Stockholder has not been convicted of, involved in,
or the subject of (as the case may be) any of the circumstances or events
described in Regulation S-K, Item 401, paragraphs (f)(1) through (6) promulgated
under the Securities and Exchange Act of 1934.

    

    4.           Indemnification.  Each
Designated Officer/Director Principal Stockholder, severally and not jointly,
hereby agrees to indemnify and hold harmless each Purchaser Indemnified Party
from, against and in respect of the full amount of any and all Losses incurred
or suffered by the Purchaser Indemnified Parties or any of them in respect of,
arising from, in connection with, or incident to (a) any breach of, or
inaccuracy in, any representation or warranty made by such Designated
Officer/Director Principal Stockholder in Section 3 of this Agreement; (b) any
breach, violation, nonperformance or non-fulfillment of any covenants,
agreements or obligations of such Designated Officer/Director Principal
Stockholder in this Agreement; (c) from and after the Closing, any fraud
committed by the Company (whether or not known by such Designated
Officer/Director Principal Stockholder) with respect to the Merger Agreement or
the Merger; and (d) any fraud committed by such Designated Officer/Director
Principal Stockholder with respect to this Agreement, the Merger Agreement or
the Merger; provided, however, that no
indemnification payment to be made by a Designated Officer/Director Principal
Stockholder in respect of indemnification required to be made pursuant to this
Agreement and any Company Stockholders’ Option Agreement to which such
Designated Officer/Director Principal Stockholder is a party, in the aggregate,
shall be required to be made to the Purchaser Indemnification Parties in excess
of the sum of, without duplication (i) the Merger Consideration actually paid to
such Designated Officer/Director Principal Stockholder and (ii) the Merger
Consideration that would have been paid to such Designated Officer/Director
Principal Stockholder in respect of any shares of Company Common Stock that were
donated or transferred by such Designated Officer/Director Principal Stockholder
since April 1, 2010.

    
      
         

      

      
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    5.           Release, Acknowledgement and
Waiver.  Each Designated Officer/Director Principal
Stockholder, for himself and his successors and assigns, releases the Company,
the Surviving Corporation and their respective Affiliates from any claims,
actions, suits and damages in connection with any claims such Designated
Officer/Director Principal Stockholder may have in his capacity as a
Stockholder.  Each Designated Officer/Director Principal Stockholder
acknowledges and agrees that neither the Company nor any Company Subsidiary has
breached any obligation owing to such Designated Officer/Director Principal
Stockholder, and that no facts or circumstances exist which could provide the
basis for such a claim against the Company, any Company Subsidiary, the
Surviving Corporation or their respective Affiliates.

    

    6.           Authorization of
Stockholders’ Representative. Each Designated
Officer/Director Principal Stockholder hereby confirms his approval of the
Stockholders’ Representative’s power and authority, and each of the other
provisions set forth in Article XI of the Merger Agreement is hereby agreed,
confirmed and ratified and shall be deemed incorporated by reference
herein.  In addition to the powers and authority granted thereby, the
Stockholders’ Representative is hereby appointed, authorized and empowered to
act for the benefit of each Designated Officer/Director Principal Stockholder in
connection with and to facilitate the consummation of the transactions
contemplated by this Agreement, the Merger Agreement and the Escrow Agreement,
and the transactions contemplated hereby and thereby, as the exclusive agent and
attorney-in-fact to act on behalf of each Designated Officer/Director Principal
Stockholder, for the following purposes and with the following powers and
authority:

    

    
      
        	 	
                (i)

              	
                in
      the event of an amendment to the Merger Agreement which is approved by the
      Board of Directors of the Company, to confirm to the Purchaser that this
      Agreement, the Option Agreement and, to the extent any Stockholder consent
      is required therefor, that the consents of the Designated Officer/Director
      Principal Stockholders in the Company Stockholders’ Consents remain in
      full force and effect; and

              

      

    

     

    
      
        	 	
                (ii)

              	
                to
      execute and deliver such immaterial modifications or waivers in connection
      with this Agreement or, to the extent any Stockholder consent is required,
      the Merger Agreement or the Escrow
Agreement.

              

      

    

     

    
      	 	
              7.

            	
              Miscellaneous.

            

    

     

    (a)           Continuing Obligations; Equitable
Remedies.  The restrictions set forth in Sections 1 and 2 are
considered by the parties to be reasonable for the purposes of protecting the
value of the business and goodwill of the Surviving Corporation (after giving
effect to the transactions contemplated by the Merger) and each Designated
Officer/Director Principal Stockholder acknowledges that the Purchaser and the
Surviving Corporation would be irreparably harmed and that monetary damages
would not provide an adequate remedy to the Purchaser in the event the covenants
contained in Sections 1 and 2 were not complied with in accordance with their
terms.  The Designated Officer/Director Principal Stockholders agree
that any breach by such Designated Officer/Director Principal Stockholder of any
provision of Sections 1 or 2 shall entitle the Purchaser and, after the Closing,
the Surviving Corporation to an injunction, specific performance and other
equitable relief to secure the enforcement of these provisions, in addition to
any other remedies (including damages) which may be available to the Purchaser
and the Surviving Corporation.  If any of the Designated
Officer/Director Principal Stockholders or any of their respective Affiliates,
heirs and personal and legal representatives breaches the covenants set forth in
Section 1, the Restricted Period described therein shall be extended for a
period equal to the period that a court having jurisdiction has determined that
such covenant has been breached.  It is the desire and intent of the
parties that the provisions of Sections 1 and 2 be enforced to the fullest
extent permissible under the laws and public policies of each jurisdiction in
which enforcement is sought.  If any provisions of Section 1 or 2
relating to the time period, scope of activities or geographic area of
restrictions is declared by a court of competent jurisdiction to exceed the
maximum permissible time period, scope of activities or geographic area, as the
case may be, the time period, scope of activities or geographic area shall be
reduced to the maximum which such court deems enforceable.  If any
provisions of Section 1 or 2 other than those described in the preceding
sentence are adjudicated to be invalid or unenforceable, the invalid or
unenforceable provisions shall be deemed amended (with respect only to the
jurisdiction in which such adjudication is made) in such manner as to render
them enforceable and to effectuate as nearly as possible the original intentions
and agreement of the parties.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    (b)           Public
Announcement.  No public announcement or other publicity
regarding this Agreement, the Merger Agreement or the transactions contemplated
hereby and thereby shall be made prior to or after the date hereof without the
prior written consent of Company and Purchaser as to form, content, timing and
manner of distribution.  Notwithstanding the foregoing, nothing in
this Agreement shall preclude any party or its Affiliates from making any public
announcement or filing required pursuant to any federal or state securities law,
rule or regulation.

    

    (c)           Notices. All
notices and other communications hereunder shall be in writing and shall be
deemed to have been duly given (a) when delivered personally, (b) when
transmitted by facsimile (receipt confirmed), (c) on the fifth (5th)
Business Day following mailing by registered or certified mail (return receipt
requested), or (d) on the next Business Day following deposit with an overnight
delivery service of national reputation, to the parties at the following
addresses and facsimile numbers (or at such other address or facsimile number
for a party as may be specified by like notice):

     

    If to
Purchaser:

    

    c/o
Clarus Corporation

    One
Landmark Square, 22nd Fl

    Stamford,
CT  06901

    Attn:      Executive
Chairman

    Fax:        (203)
552-9607

    

    with a
copy to:

    

    Kane
Kessler, P.C.

    1350
Avenue of the Americas, 26th
Floor

    New York,
New York 10019

    Attn.:      Robert
L. Lawrence, Esq.

    Jeffrey S. Tullman, Esq.

    Fax:        (212)
245-3009

    

    If to a
Designated Officer/Director Principal Stockholder, to the address and/or
facsimile number set forth below such Designated Officer/Director Principal
Stockholder’s name on the signature page hereto.

    

    (d)           Severability. The
invalidity of any term or terms of this Agreement shall not affect any other
term of this Agreement which shall remain in full force and
effect. 

     

    (e)           No
Third Party Beneficiaries. The
Company shall be a third party beneficiary of the provisions of Sections 1, 2
and 7(a).  Except as set forth in the immediate preceding sentence,
there are no third party beneficiaries of this Agreement or of the transactions
contemplated hereby and nothing contained herein shall be deemed to confer upon
any one other than the parties hereto (and their permitted successors and
assigns, and including, with respect to the Company, the Surviving Corporation
and Purchaser Parent) any right to insist upon or to enforce the performance of
any of the obligations contained herein. 

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    (f)           Time of the Essence. Time is of the essence
with respect to the obligations of the parties hereunder.

     

    (g)           Negotiation of Agreement. Each party hereto
acknowledges that it has had the opportunity to consult with independent counsel
of its choice throughout all negotiations that have preceded the execution of
this Agreement.  Each party and its counsel (if any) has cooperated in
the drafting and preparation of this Agreement and the other documents referred
to herein, and any and all drafts relating thereto will be deemed the work
product of the parties hereto and may not be construed against any party by
reason of its preparation.  Accordingly, any rule of law or any legal
decision that would require interpretation of any ambiguities in this Agreement
against the party that drafted it is of no application and is hereby expressly
waived.

     

    (h)           Counterparts.  This
Agreement may be executed in any number of counterparts each of which shall be
deemed an original but all of which together shall constitute one and the same
instrument.  The exchange of copies of this Agreement and of signature
pages by facsimile transmission shall constitute effective execution and
delivery of this Agreement as to the parties and may be used in lieu of the
original Agreement for all purposes. Signatures of the parties transmitted by
facsimile shall be deemed to be their original signatures for all
purposes.

     

    (i)           Successors. This Agreement shall be
binding upon and shall inure to the benefit of the parties hereto and their
respective successors and assigns.

     

    (j)           Entire Agreement; Waiver and
Modification.  This Agreement
and the Merger Agreement (together with the certificates, agreements, exhibits,
schedules, instruments and other documents referred to herein or therein)
constitutes the entire agreement between the parties with respect to the subject
matter hereof and thereof and supersedes all prior agreements, both written and
oral, with respect to such subject matter.  Any provision of this
Agreement may be waived at any time in writing by the party which is entitled to
the benefits thereof.  No change, modification, extension,
termination, notice of termination, discharge, abandonment or waiver of this
Agreement or any of its provisions, nor any representation, promise or condition
relating to this Agreement, will be binding upon any party unless made in
writing and signed by such party.

     

    (k)           Governing
Law.  THIS AGREEMENT HAS BEEN ENTERED INTO AND SHALL BE
CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE
WITHOUT REFERENCE TO THE CHOICE OF LAW PRINCIPLES THEREOF.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    (l)           Consent to Jurisdiction. EACH PARTY TO THIS
AGREEMENT, BY ITS EXECUTION HEREOF, (I) HEREBY IRREVOCABLY SUBMITS, AND AGREES
TO CAUSE EACH OF ITS SUBSIDIARIES TO SUBMIT, TO THE EXCLUSIVE JURISDICTION OF
THE STATE COURTS OF THE STATE OF DELAWARE LOCATED IN NEW CASTLE COUNTY (OR IF
JURISDICTION THERETO IS NOT PERMITTED BY LAW, THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE) FOR THE PURPOSE OF ANY ACTION, CLAIM, CAUSE OF
ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY PROCEEDING OR
INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR RELATING TO THE
SUBJECT MATTER HEREOF, (II) HEREBY WAIVES, AND AGREES TO CAUSE EACH OF ITS
SUBSIDIARIES TO WAIVE, TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW, AND
AGREES NOT TO ASSERT, AND AGREES NOT TO ALLOW ANY OF ITS SUBSIDIARIES TO ASSERT,
BY WAY OF MOTION, AS A DEFENSE OR OTHERWISE, IN ANY SUCH ACTION, ANY CLAIM THAT
IT IS NOT SUBJECT PERSONALLY TO THE JURISDICTION OF THE ABOVE-NAMED COURTS, THAT
ITS PROPERTY IS EXEMPT OR IMMUNE FROM ATTACHMENT OR EXECUTION, THAT ANY SUCH
PROCEEDING BROUGHT IN ONE OF THE ABOVE-NAMED COURTS IS IMPROPER, OR THAT THIS
AGREEMENT OR THE SUBJECT MATTER HEREOF MAY NOT BE ENFORCED IN OR BY SUCH COURT
AND (III) HEREBY AGREES NOT TO COMMENCE OR TO PERMIT ANY OF ITS SUBSIDIARIES TO
COMMENCE ANY ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR
OTHERWISE), INQUIRY PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED UPON
THIS AGREEMENT OR RELATING TO THE SUBJECT MATTER HEREOF OTHER THAN BEFORE ONE OF
THE ABOVE-NAMED COURTS NOR TO MAKE ANY MOTION OR TAKE ANY OTHER ACTION SEEKING
OR INTENDING TO CAUSE THE TRANSFER OR REMOVAL OF ANY SUCH ACTION, CLAIM, CAUSE
OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY, PROCEEDING OR
INVESTIGATION TO ANY COURT OTHER THAN ONE OF THE ABOVE-NAMED COURT WHETHER ON
THE GROUNDS OF INCONVENIENT FORUM OR OTHERWISE.  EACH PARTY HEREBY
CONSENTS TO SERVICE OF PROCESS IN ANY SUCH PROCEEDING IN ANY MANNER PERMITTED BY
DELAWARE LAW, AND AGREES THAT SERVICE OF PROCESS BY REGISTERED OR CERTIFIED
MAIL, RETURN RECEIPT REQUESTED, AT ITS ADDRESS SPECIFIED PURSUANT TO SECTION
7(c) IS REASONABLY CALCULATED TO GIVE ACTUAL NOTICE.  IN ANY
PROCEEDINGS INSTITUTED IN CONNECTION WITH THIS AGREEMENT, THE PREVAILING PARTY
SHALL BE ENTITLED TO AN AWARD OF ITS REASONABLE ATTORNEYS’ FEES AND COSTS UPON
FINAL DETERMINATION THEREOF (INCLUDING ANY APPEALS IN RESPECT THEREOF OR THE
EXPIRATION OF ANY RIGHT TO APPEAL IN CONNECTION THEREWITH).

     

    (m)           Waiver of Jury Trial. EACH OF THE PARTIES
HERETO HEREBY WAIVES AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS
PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN
RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT,
TORT OR OTHERWISE), INQUIRY, PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED
UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE
WHETHER NOW EXISTING OR HEREAFTER ARISING.  EACH OF THE PARTIES AGREES
AND ACKNOWLEDGES THAT IT HAS BEEN INFORMED THAT THIS SECTION 7(m) CONSTITUTES A
MATERIAL INDUCEMENT UPON WHICH THE OTHER PARTIES HERETO ARE RELYING AND WILL
RELY IN ENTERING INTO THIS AGREEMENT AND ANY OTHER AGREEMENTS RELATING HERETO OR
CONTEMPLATED HEREBY.  ANY PARTY HERETO MAY FILE AN ORIGINAL
COUNTERPART OR A COPY OF THIS SECTION 7(m) WITH ANY COURT AS WRITTEN EVIDENCE OF
THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY
JURY. 

    

    [Signature
Page Follows]

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    In
Witness Whereof, the parties have executed this Agreement as of the date
first above written.

    

    
      
        
          
            
              
                
                  
                    	 
      	Purchaser:	 
	 
      	 	 
      	 
	 
      	Everest/Sapphire
      Acquisition, LLC	 
	 
      	 	 
      	 
	 
      	By:	
                             /s/ Philip A.
    Baratelli

                          	 
	 
      	 	
                            Name:
      Philip A. Baratelli

                          	 
	 
      	 	
                            Title:
      Secretary and Treasurer

                          	 

                  

                

              

            

          

        

      

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      	 	
                                                              Designated
      Officer/Director

                                                            	 
	 	
                                                              Principal
      Stockholders:

                                                            	 
	 	 
      	 
	 	
                                                               /s/ Peter Metcalf

                                                            	 
	 	
                                                              Name:

                                                            	
                                                              Peter
      Metcalf

                                                            	 
	 	
                                                              Address:

                                                            	 
      	 
	 	 
      	 
      	 
	 	 
      	
                                                              Fax:

                                                            	 
	 	 
      	 
      	 
	 	
                                                               /s/ Philip Duff

                                                            	 
	 	
                                                              Name:

                                                            	
                                                              Philip
      Duff

                                                            	 
	 	
                                                              Address:

                                                            	 
      	 
	 	 
      	 
      	 
	 	 
      	
                                                              Fax:

                                                            	 
	 	 
      	 
      	 
	 	
                                                               /s/ Robert Peay

                                                            	 
	 	
                                                              Name:

                                                            	
                                                              Robert
      Peay

                                                            	 
	 	
                                                              Address:

                                                            	 
      	 
	 	 
      	 
      	 
	 	 
      	
                                                              Fax:

                                                            	 

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Schedule
3(b)

    

    Company Common Stock
Ownership

    

    
      
        	
                Name of Stockholder

              	 
      	
                No. of Shares of Company

                Common Stock 

                (other than 401(k) Shares

              	 
      	
                No. of 401(k) Shares

              
	
                Philip
      Duff

              	 
      	
                14,200

              	 
      	
                0

              
	
                Peter
      Metcalf

              	 
      	
                6,822

              	 
      	
                5,819

              
	
                Robert
      Peay

              	
                  

              	
                193

              	
                  

              	
                70

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00173-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00173-of-00352.parquet"}]]