Document:

Exhibit
10.1

EMPLOYMENT
AGREEMENT

This EMPLOYMENT
AGREEMENT dated as of April 5, 2007, is made by and between Merisant Company, a
Delaware corporation (the “Company”), and Diana S. Ferguson (the “Executive”).

WHEREAS, the
Company desires to employ the Executive as Chief Financial Officer, Executive
Vice President, Finance, of the Company, upon and subject to the terms and
conditions set forth herein, and the Executive wishes to accept such employment
upon and subject to such terms and conditions; and

WHEREAS, it is
contemplated that the Executive will commence her employment with the Company
on April 16, 2007, or such other date as the parties may mutually agree (the “Effective
Date”).

NOW, THEREFORE, in
consideration of the promises and mutual agreements contained herein, and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged by both parties, the parties hereby agree as follows:

1.                                       Employment.

(a)                                  The
Company hereby employs the Executive and the Executive hereby accepts such
employment upon and subject to the terms and conditions of this Agreement from
the Effective Date until the third annual anniversary of the Effective Date,
unless the Executive’s employment is earlier terminated pursuant to Section 4
(such period referred to as the “Initial Term”).  As of the conclusion of the Initial Term, the
period of employment shall automatically be extended on the same terms and
conditions as set forth in this Agreement for successive one-year periods
unless and until either: (i) a party gives the other party no less than sixty
(60) calendar days’ advance written notice prior to the end of the Initial Term
or any such one-year extension period that the party will not further extend
the Initial Term or such one-year extension period (as applicable), or (ii)
either party terminates the Executive’s employment in accordance with Section
4.  The Initial Term and any and all
extensions thereof (or partial extension in the event of an earlier termination
pursuant to Section 4), if any, shall be collectively referred to as the “Employment
Period.”

(b)                                 The
Executive covenants, represents and warrants that: (i) the execution, delivery
and complete performance of this Agreement by her does not and will not breach,
violate or cause a default under any contract, agreement, instrument, order,
judgment or decree to which the Executive is a party or by which she is bound;
and (ii) she is not a party to or bound by any employment or services
agreement, confidentiality agreement, non-competition agreement, other
restrictive covenant, or other obligation or agreement that would or could
prohibit or restrict her from being employed by the Company or from performing
any of her duties under this Agreement.

2.                                       Position,
Duties and Responsibilities.  The
Company shall employ the Executive during the Employment Period as its Chief
Financial Officer, Executive Vice President, Finance, reporting to the Chief
Executive Officer, and the Executive shall serve in the same capacity for
Merisant Worldwide, Inc., Merisant US, Inc., Whole Earth Sweetener Company LLC
and Merisant Foreign Holdings I, Inc. for no additional compensation. During
the Employment Period, the Executive shall perform the duties assigned to her
hereunder faithfully, with the utmost loyalty, to the best of her abilities and
in the best interests of the Company; shall devote her full business time,
attention and effort to the affairs of the Company; and shall not engage in any
other business activities (whether or not for gain, profit, or other pecuniary
advantage) or any other actions which she knows or reasonably should know could
harm the business or reputation of the Company or any of its affiliates or
other related entities. Subject to the powers, authority and responsibilities vested
in the Company’s Board of Directors (the “Board”) and in duly constituted
committees of the Board, the Executive shall have the authority and
responsibility to direct the management and operation of the Company and shall
also perform such other duties on behalf of the Company and its affiliates and
other related entities, consistent with her title and duties above, as the
Board or Chief Executive Officer may from time to time authorize or direct;
provided, the Executive may engage in activities involving professional,
charitable, educational, religious and similar types of organizations, speaking
engagements, and management of personal investments, to the extent that such
other activities do not interfere with the performance of Executive’s duties
under this Agreement, or conflict with the Code of Business Conduct and Ethics
of the Company or violate the terms of any of the covenants provided in Section
5 hereof.   Notwithstanding the forgoing,
the Company agrees that the Executive shall be permitted to continue to serve
as a director on the boards of directors of Franklin Electric and Integrys
Energy Group to the extent that such directorships do not interfere with the
performance of Executive’s duties under this Agreement, or conflict with the
Code of Business Conduct and Ethics of the Company or violate the terms of any
of the covenants provided in Section 5 hereof.

3.                                       Compensation
and Benefits.

(a)                                  Base
Salary.  During the Employment
Period, the Company shall pay to the Executive a base salary at the gross rate
of $300,000 per annum, less required and authorized withholding and deductions
(the “Base Salary”), payable in installments in accordance with the Company’s
executive payroll policy.  The Base
Salary shall be reviewed annually, at the same time as for other senior
officers of the Company, and increased, as determined by the Board in its discretion,
but not decreased except as part of an across-the-board reduction in senior
officer base salaries consistent with (on a percentage basis) reductions applicable
to other senior officers of the Company, and any such increased (or decreased)
amount shall be the Executive’s “Base Salary” for all purposes hereunder
thereafter.

(b)                                 Signing
Bonus.  The Company shall pay to the
Executive a bonus of $150,000, less required and authorized withholding and
deductions, payable to the Executive with the first installment of the
Executive’s Base Salary immediately following the Effective Date.

(c)                                  Incentive
Bonuses.  Subject to Section 4,
commencing with calendar year 2007 and during each calendar year of the
Employment Period thereafter, the Executive also will be 

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eligible to receive an
annual cash incentive bonus in accordance with the Company’s Annual Incentive
Plan or other annual bonus plan, as applicable, as determined by the
Compensation Committee of the Board, in its sole discretion, with a target
bonus opportunity as a percentage of Base Salary not less than 100% (the “Annual
Incentive Bonus”).  Notwithstanding, the
Executive’s Annual Incentive Bonus attributable to calendar year 2007 shall be
equal to not less than the gross amount of $150,000 (“Guaranteed Bonus”), to be
paid at such time as the date on which the cash incentive bonus is paid to
other executives of the Company but no later than April 1, 2008 (less required
and authorized withholding and deductions). 
The Executive also will be eligible to receive cash incentive bonuses in
accordance with the Company’s 2007 Supplemental Incentive Plan with target
bonus opportunities of $150,000 in the aggregate (the “Supplemental Incentive
Bonus”), and shall be eligible to participate in similar supplemental incentive
bonuses in subsequent years, as determined by the Compensation Committee of the
Board, in its sole discretion.   The
Annual Incentive Bonus in respect of any fiscal year shall be paid in
accordance with the procedures specified by the Compensation Committee, but in
no event later than ninety (90) days after the end of each fiscal year.

(d)                                 Share
Appreciation Rights Plan.  The
Executive shall be deemed an eligible participant in the Merisant Worldwide,
Inc. 2005 Share Appreciation Rights Plan (the “2005 SAR Plan”), and the
Executive will be granted 108,687.38 First Level Share Units, 111,102.60 Second
Level Share Units and 165,043.75 Third Level Share Units under the 2005 SAR
Plan.  If the 2005 SAR Plan is terminated
and Merisant Worldwide or its successor adopts a restricted stock, stock option
or other equity-based incentive plan, the Executive will receive an equivalent
interest under any such successor plan.

(e)                                  Employee
Benefits.  During the Employment
Period, the Executive shall be eligible to participate in such executive
compensation and deferred compensation plans, such employee benefit plans
(including group health, retirement and non-qualified retirement programs), and
to receive such other fringe benefits and perquisites, as the Company may make
available to senior executives generally, subject to all present and future
terms and conditions of such executive compensation and deferred compensation
plans, benefit plans and other fringe benefits and perquisites.   The Company reserves the right in its sole
discretion to alter, suspend, amend, or discontinue any and all of its employee
and fringe benefits, benefit plans, policies and procedures, in whole or in
part, at any time with or without notice, provided that the Company will not
make any change to the Executive’s employee or fringe benefits that it does not
also make on a consistent basis for other senior executives of the Company.

(f)                                    Vacation.  The Executive shall receive four weeks of
paid vacation per calendar year (prorated as appropriate for any partial
calendar year).  Up to two (2) weeks per
calendar year of earned but unused vacation time may be carried over from year
to year.

(g)                                 Business
Expenses.  The Company shall
reimburse the Executive for all expenses and disbursements reasonably incurred
by the Executive in the performance of the Executive’s duties in accordance
herewith during the Employment Period, and provide such other facilities or
services as the Company and the Executive may, from time to time, agree are
appropriate, in each case in accordance with the Company’s policies established
from time to time for senior 

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officers of the Company
and conditioned upon receipt of appropriate documentation for such business
expenses.

4.                                       Termination.

(a)                                  Notwithstanding
anything to the contrary in this Agreement, the Executive’s employment shall
automatically terminate upon the Executive’s death, the Company may immediately
terminate the Executive’s employment for Cause or Incapacity (as defined below)
effective upon written notice to the Executive, and the Executive may
voluntarily terminate her employment at any time for any reason effective upon
sixty (60) days’ prior written notice to the Company.  In the event of any such termination, the
Executive shall receive her Accrued Benefits and shall not be entitled to any
other amounts from the Company. 
Executive’s “Accrued Benefits” are (i) any earned but unpaid base salary
through the last day of the Period of Employment, (ii) any earned but unpaid
annual cash bonus or other incentive award for the fiscal year prior to the
fiscal year during which the Period of Employment ends, (iii) any accrued but
unpaid vacation pay, (iv) any reimbursable business expenses or unpaid
perquisites through the last day of the Employment Period, (v) any vested
benefits, including performance awards under Company incentive plans, through
the last day of the Employment Period in accordance with the Company’s employee
benefit plans or programs and executive compensation and deferred compensation
plans, and (vi) any benefit continuation or conversion rights in accordance
with the Company’s employee benefit plans or programs.  The Executive shall also be paid her Guaranteed
Bonus if unpaid at the time and the effective termination date is a date after
December 31, 2007.  Executive’s Accrued
Benefits shall be paid in a lump sum within thirty days after the date of
termination, except that Accrued Benefits payable pursuant to clause (ii), and
any Guaranteed Bonus shall be paid when bonuses are paid to other senior
executives, and amounts payable pursuant to clause (v) and (vi) shall be paid
in accordance with the applicable plan.

(i)                                     “Incapacity”
means such physical or mental condition of the Executive which renders and is
expected to render the Executive incapable of performing the essential
functions of her position hereunder with or without reasonable accommodation
for 180 calendar days (whether consecutive or not) within any 360-calendar-day
period, as determined in good faith by the Board upon consultation with
Executive’s chosen physician, and, in its discretion, a physician selected by
the Board.  The Executive hereby agrees
to submit to any reasonable medical examination(s) as may be recommended by the
Company’s selected physician for the purpose of determining the existence or
absence of Incapacity.  Executive also
authorizes any physician, surgeon, or other person attending or caring for
Executive to discuss Executive’s case fully and frankly with one or more
members of the Board and to disclose to such member or members of the Board any
and all information the Board considers reasonable, necessary, or desirable to
evaluate Executive’s condition.  If
Executive’s physician, surgeon, or other person attending or caring for
Executive disagrees with a conclusion reached by the Board that Executive’s
physical or mental condition renders the Executive incapable of performing the
essential functions of her position hereunder with or without reasonable
accommodation, Executive’s physician and Board’s physician shall jointly agree
on the selection of an independent third physician to administer all reasonable
medical examinations as such third-party physician deems required for the
purpose of determining the existence or absence of 

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Incapacity.  Executive hereby agrees to submit to all
reasonable medical examination(s) recommended by such third-party
physician.  If such third-party physician
and Company’s physician both render their professional opinion that Executive
suffers from Incapacity as defined in this paragraph, the Board shall be
justified in concluding that Executive is so incapacitated and shall terminate
Executive’s employment under the provisions of this paragraph.

(ii)                                  “Cause”
means any of the following conduct by the Executive, as determined in good
faith by the Board: (I) embezzlement, misappropriation of corporate funds,
fraud, or other material acts of dishonesty; (II) conviction of any felony, or
of any misdemeanor involving moral turpitude, or entry of a plea of guilty or nolo contendere to any such felony or misdemeanor; (III)
engaging in illegal conduct or gross misconduct which causes financial or
reputational harm to the Company or any of its affiliates or other related
entities; (IV) refusal to perform or continued willful disregard of her duties
and responsibilities (other than due to any failure resulting from incapacity
due to physical or mental illness or injury), (V) material breach of any written
policy of the Company or a subsidiary, including the Company’s Code of Business
Conduct and Ethics, as in effect or amended from time to time; (VI) breach or
threatened breach of Section 5 of this Agreement (including without limitation
any provision of Exhibit A hereto); (VII) material breach of any other
provision of this Agreement; or (VIII) violation of any statutory or common law
duty of loyalty to the Company or any of its affiliates or other related
entities.  Notwithstanding the foregoing,
the Company shall not terminate the Executive’s employment pursuant to subparts
(III), (IV), or (VII) of this Section 4(a)(ii) unless the Company first gives
the Executive notice in reasonable detail describing the basis for such “Cause”
and a reasonable period of time, which shall in no event be less than thirty
(30) days, to cure any such grounds for termination (provided that no such
notice and cure shall be required as to any such grounds that are not
reasonably susceptible to a cure under the circumstances).  For purposes of this Section 4(a)(ii), acts
or omissions of the Executive shall not be considered “willful” if done or
omitted by the Executive in good faith and with a reasonable belief that such
conduct is in the best interests of the Company.

(b)                                 Notwithstanding
anything to the contrary in this Agreement, the Company may terminate the
Executive’s employment for any reason other than Incapacity or Cause or for no
reason at any time by written notice to the Executive, at which time the
Executive shall be entitled to receive an amount (“Severance”) equal to
eighteen (18) months’ Base Salary either through salary continuation or a lump
sum payment, or combination thereof, at the Company’s discretion.  If at the time of termination the Executive
has health coverage, then the Executive shall be entitled to continuation of
her health coverage for eighteen (18) months following the date of termination
with premiums charged to her at active employee rates, which coverage shall be
concurrent with any COBRA benefits subject to all terms and conditions of the
COBRA Act.  The Executive shall receive a
pro rata (based on the portion of the year employed) target bonus under the
then current annual incentive plan for the year of termination, payable when
bonuses are paid to other senior executives. 
The Executive shall be entitled to her Accrued Benefits.  Executive shall receive senior executive
level outplacement services for a period of twelve (12) months provided by an
outplacement firm selected by the Executive and approved by the Company (such
approval not to be unreasonably withheld) and paid for by the Company.  The

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receipt of separation
payments by the Executive pursuant to this Section 4(b) shall be subject to
Section 4(e) herein.

(c)                                  Executive
may terminate her employment for Good Reason. 
If the Executive should terminate the Executive’s employment for Good
Reason, the Executive will be entitled to the separation payments set forth in
Section 4(b) above. The receipt of separation payments by the Executive
pursuant to this Section 4(c) shall be subject to Section 4(e) herein.

(i)                                     “Good
Reason” means the occurrence of any of the following without the Executive’s
express written consent:  (i) a reduction
by the Company in Executive’s base salary or target bonus opportunity as in
effect on the date of this Agreement or, in the event of a Change in Control,
as in effect immediately prior to the Change in Control, it being understood
that a change in the performance criteria applicable under any bonus plan
(provided that such change, to the extent applicable, affects executives of the
Company generally), shall not be Good Reason hereunder; (ii) the Company’s
failure to keep in effect retirement, health and welfare benefits plans, and
executive compensation plans under which Executive is eligible to receive
benefits substantially similar in value in the aggregate to the benefits
Executive is eligible to receive under such plans as of the date of this
Agreement or, in the event of a Change in Control, the day prior to the effective
date of the Change in Control, it being understood that a change in the
performance criteria (provided such change is not applicable solely to the
Executive) applicable for awards under any incentive or bonus plan, shall not
be Good Reason hereunder, (iii) the Company’s requiring Executive to be based
anywhere more than fifty (50) miles from where Executive’s principal place of
employment is located on the date of this Agreement; (iv) any change in the
reimbursement policy set forth in Section 3(g) as in effect on the date hereof;
(v) a change in the duties or reporting responsibilities of Executive that is
inconsistent in any substantial adverse respect with Executive’s positions,
duties or responsibilities as in effect on the effective date of this Agreement
or, in the event of a Change in Control, immediately prior to the Change in
Control (including any material adverse diminution of such duties or
responsibilities); provided, however, that Good Reason shall not be deemed to
occur upon a change in duties or responsibilities that is solely and directly a
result of the Company no longer having publicly traded securities and does not
involve any other event set forth in this paragraph; and (vi) failure by
Company to obtain a satisfactory agreement from any Successor (as defined in
Section 8) to assume and agree to perform this Agreement as provided in Section
8.  Notwithstanding the foregoing, the
Executive shall not be deemed to have terminated the Period of Employment for
Good Reason unless the Executive gives written notice to the Company stating in
reasonable detail the events which constitute Good Reason, such notice to be
given within the later of (i) thirty (30) days of the occurrence of such event
or (ii) the date the Executive knows of the event constituting Good Reason and,
if such failure or breach is reasonably susceptible to cure, the Company does
not effect a cure within such thirty (30) day period.

(ii)                                  “Change
in Control” means either:

(1)                                  acquisition
by any individual, entity or group (a “Person”), including any “person” within
the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”), of beneficial ownership, within the
meaning of Rule 

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13d-3 promulgated under
the Exchange Act, of more than fifty percent (50%) of either (x) the then
outstanding shares of common stock of Merisant Worldwide, Inc. (the “Outstanding
Common Stock”) or (y) the combined voting power of the then outstanding
securities of Merisant Worldwide, Inc., entitled to vote generally in the
election of directors (the “Outstanding Voting Securities”); excluding,
however, the following: (A) any acquisition directly from Merisant Worldwide,
Inc., if a majority of the Incumbent Board (as such term is defined below)
approves a resolution expressly providing that such acquisition does not
constitute a Change in Control under this clause (A) (excluding any acquisition
resulting from the exercise of an exercise, conversion or exchange privilege
unless the security being so exercised, converted or exchanged was acquired
directly from Merisant Worldwide, Inc.); (B) any acquisition by Merisant
Worldwide, Inc., or a corporation controlled by Merisant Worldwide, Inc.; (C)
any acquisition by an employee benefit plan (or related trust) sponsored or
maintained by the Company or any corporation controlled by Merisant Worldwide,
Inc.; (D) any acquisition by an underwriter temporarily holding securities
pursuant to an offering of such securities; or (E) any acquisition by any
corporation pursuant to a transaction that complies with clauses (x), (y) and
(z) of subsection (3) of this definition; provided further, that for purposes
of clause (B), if any Person other than Merisant Worldwide, Inc., or any
employee benefit plan (or related trust) sponsored or maintained by Merisant
Worldwide, Inc., or any corporation controlled by Merisant Worldwide, Inc.,
shall become the beneficial owner within the meaning of Rule 13d-3 promulgated
under the Exchange Act (the “Beneficial Owner”) of more than fifty percent
(50%) of the Outstanding Common Stock or of the Outstanding Voting Securities
by reason of an acquisition by Merisant Worldwide, Inc., and such Person shall,
after such acquisition by the Company, become the Beneficial Owner of any
additional shares of the Outstanding Common Stock or any additional Outstanding
Voting Securities and such Beneficial Ownership is publicly announced, such
additional Beneficial Ownership shall constitute a Change in Control;  or

(2)                                  individuals
who, as of the date of this Agreement, constitute the Board of Directors of
Merisant Worldwide, Inc. (the “Incumbent Board”) cease for any reason to
constitute at least a majority of such Board; provided that any individual who
becomes a director of Merisant Worldwide, Inc., subsequent to the date of this
Agreement, whose election, or nomination for election by the Merisant
Worldwide, Inc.’s stockholders, was approved by the vote of at least a majority
of the directors then comprising the Incumbent Board shall be deemed a member of
the Incumbent Board; and provided further, that any individual who was
initially elected as a director of the Company as a result of an actual or
threatened election contest, as such terms are used in Rule 14a-11 of
Regulation 14A promulgated under the Exchange Act, or any other actual or
threatened solicitation of proxies or consents by or on behalf of any Person
other than the Board shall not be deemed a member of the Incumbent Board; or

(3)                                  consummation
of a reorganization, merger or consolidation or sale or other disposition of
all or substantially all of the assets of Merisant Worldwide, Inc. (a “Corporate
Transaction”); excluding, however, a Corporate Transaction pursuant to which
(x) all or substantially all of the individuals or entities who are the
Beneficial Owners, respectively, of the Outstanding Common Stock and the
Outstanding Voting Securities immediately prior to such Corporate Transaction
will beneficially own within the meaning of Rule 13d-3 promulgated under the
Exchange Act (“Beneficially Own”) directly or indirectly, more than fifty
percent (50%) of, respectively, the outstanding shares of common stock, and the
combined voting power 

 7
 

of the outstanding
securities entitled to vote generally in the election of directors, as the case
may be, of the corporation resulting from such Corporate Transaction
(including, without limitation, a corporation that as a result of such
transaction owns all or substantially all of the outstanding stock of  the Company or all or substantially all of
the Company’s assets either directly or indirectly) in substantially the same
proportions relative to each other as their ownership, immediately prior to
such Corporate Transaction, of the Outstanding Common Stock and the Outstanding
Voting Securities, as the case may be, (y) (1) no Person (other than the
Company or a corporation controlled by the Company, any employee benefit plan
(or related trust) sponsored or maintained by the Company or any corporation
controlled by the Company, the corporation resulting from such Corporate
Transaction, or any Person that Beneficially Owned, immediately prior to such
Corporation Transaction, directly or indirectly, more than fifty percent (50%)
of the Outstanding Common Stock or the Outstanding Voting Securities, as the
case may be) will Beneficially Own, directly or indirectly, more than fifty
percent (50%) of, respectively, the outstanding shares of common stock of the
corporation resulting from such Corporate Transaction or the combined voting
power of the outstanding securities of such corporation entitled to vote
generally in the election of directors and (2) individuals who were members of
the Incumbent Board at the time of the Board’s approval of the execution of the
initial agreement providing for such Corporate Transaction will constitute at
least a majority of the members of the board of directors of the corporation
resulting from such Corporate Transaction; or (z) consummation of a plan of
complete liquidation or dissolution of the Company.

(d)                                 The
Executive understands and agrees that the termination of her employment due to
the expiration of the Employment Period following a notice by the Company
pursuant to Section 1(a) that the Company will not extend (or further extend)
the Employment Period (a “Non-Renewal”) shall not constitute or be considered a
termination pursuant to Section 4(a) or 4(b), and shall entitle the Executive
to her Accrued Benefits and no other amounts; provided, if the Company gives
Executive notice of Non-Renewal and Executive’s employment is terminated by the
Company on or after the resulting expiration of the Employment Period, then
Executive shall receive a pro rata (based on the portion of the year employed)
target bonus for the year of such termination, payable when bonuses are paid to
other senior executives.

(e)                                  Notwithstanding
any of the foregoing to the contrary, if during the period that commences upon
a Change in Control and ends eighteen (18) months after a Change in Control,
the Company should terminate the Employment Period without Cause or the
Executive should terminate the Period of Employment for Good Reason, the
Executive shall be entitled to the same separation payments and benefits as
provided under paragraphs (b) and (c) of this Section 4, subject to the
following modifications: (i)  the
Severance shall be paid in a lump sum within thirty (30) days following the
Executive’s termination of employment; and (ii) the pro rata bonus referred to
in paragraph (b) shall (x) be paid within thirty (30) days following the
Executive’s termination of employment and (y) be based on the Executive’s
target bonus under the Company’s Annual Incentive Plan or other annual bonus
plan for the fiscal year in which the Executive’s termination of employment
occurs.  Notwithstanding anything in the
above to the contrary, amounts shall also be payable under this paragraph (e)
if such termination occurs prior to a Change in Control and it is reasonably
demonstrated by the Executive that such termination of employment (x) was at
the request of a third party who has taken steps reasonably calculated 

 8
 

to effect a Change in
Control or (y) otherwise arose in connection with or in anticipation of a
Change in Control.

(f)                                    As
a condition of the receipt of the separation payments and benefits under
paragraphs (b),  (c), (d) and (e) of this
Section, the Executive must execute a separation agreement, in form and
substance reasonably satisfactory to the Company and the Executive, containing
provisions under which the parties (i) release each other, including the Company,
its subsidiaries and the officers, employees and agents of Company and its
subsidiaries, from all liability arising out of, or in connection with
Executive’s employment and termination of employment with the Company and (ii)
agree not at any time to publicly denigrate, ridicule or intentionally
criticize each other including, without limitation, by way of news interviews
or the expression of personal views, opinions or judgments to the news media;
provided, however, that nothing herein shall prohibit the Company or Executive
from making disclosure to tax or legal counsel or disclosure reasonably
required under the federal securities laws and the rules of the Securities and
Exchange Commission promulgated thereunder and the rules of any stock exchange
or national securities market on which the Company’s securities are
traded.  If an arbitrator determines that
the Executive has materially breached the terms of such separation agreement,
the Company may immediately cease all payments to the Executive under this
Agreement, may seek recovery of payments received by the Executive under this
Agreement and shall be entitled to monetary damages and an injunction,
restraining order or other equitable relief restraining any such material
breach.  If an arbitrator determines that
the Company, its subsidiaries or the officers, employees and agents of the
Company have materially breached the terms of such separation agreement, the
Executive shall be entitled to monetary damages and an injunction, restraining
order or other equitable relief restraining any such material breach.

(g)                                 Any
termination of the Executive’s employment shall automatically effectuate the
Executive’s removal from any and all officer positions that the Executive then
holds with the Company as of the effective termination date.  Any and all payments to the Executive under
this Agreement shall be reduced by required or authorized withholding and
deductions.

(h)                                 The
Executive shall be entitled to all benefits (including incentive awards and
severance) provided to senior executives of the Company (excepting the Chief
Executive Officer) in the event of a Change of Control.

(i)                                     Upon
termination of the Period of Employment, the Executive shall be under no
obligation to seek other employment or otherwise mitigate the obligations of
the Company under this Agreement. 
Amounts due to the Executive under this Agreement shall not be subject
to offset by the Company for any claims the Company may have against the
Executive, unless otherwise specifically agreed to in writing by the Executive.

(j)                                     If
the Executive incurs an excise tax imposed on “excess parachutes payments”
under Internal Revenue Code Section 4999, as defined in Section 280G of the
Code or any additional tax under Section 409A of the Code, in each case on account
of any amount paid or payable to, or for the benefit of, the Executive by the
Company or its stockholders or affiliates in respect of obligations of the
Company, in each case, in respect of this

 9
 

Agreement or any of the
Company’s incentive and benefit plans, then the Company shall pay the
Executive, within ten days prior to the date payable by Executive, an amount
equal to the sum of (x) the excise taxes (penalties and interest, other than if
caused solely by Executive’s inaction in filing or untimely payment) payable on
such excess parachutes payments, plus (y) an additional amount such that after
payment of all taxes (penalties and interest, other than if caused solely by
Executive’s inaction in filing or untimely payment) on such additional amount there
remains a balance sufficient to pay taxes actually due and payable on the tax
referred to in clause (x). References to “excise tax” and “taxes” in this
Section 4(j) shall also mean all penalties and interest thereon, other than
such penalties and interest incurred by Executive solely by her inaction in
filing or untimely payment.

5.                                       Confidentiality.  By her execution of this Agreement, the
Executive hereby agrees to abide by the Confidentiality Agreement attached as Exhibit
A hereto and hereby made a part of this Agreement.  In the event of any conflict between the main
body of this Agreement and Exhibit A, the provisions of the main body of
this Agreement shall control (including, without limitation, (i) that the
duration of the post-employment covenants under Section 6(a) and 6(b) shall
control over the two-year duration of such similar covenants in Exhibit A
and (ii) the limitation of the covenant under Section 6(a) to the Competitive
Enterprises in Exhibit B (as in effect from time to time) shall control
over the definition of “Competitive Work” in Exhibit A). The Executive
acknowledges and agrees that a breach of any provision of this section
(including without limitation any provision of Exhibit A) will result in
immediate and irreparable harm to the Company and its affiliates and other
related entities for which full damages cannot readily be calculated and for
which damages are an inadequate remedy. 
Accordingly, the Executive agrees that the Company and its affiliates
and other related entities shall be entitled to injunctive relief to prevent
any such actual or threatened breach or any continuing breach by the Executive
(without posting a bond or other security), without limiting any other remedies
that may be available to them.

6.                                       Non-Competition
And Non-Solicitation Agreement

(a)                                  Non-Compete.

Without the
consent in writing of the Board, during the Period of Employment and for the
period of eighteen (18) months following termination of employment, the
Executive will not permit the Executive’s name to be used by, or engage in, or
carry on, directly or indirectly, either for the Executive or as a member of a
partnership or as a stockholder, member, manager, investor, officer or director
of a corporation, limited liability company or similar entity or as an
employee, agent, associate or consultant of any person, partnership,
corporation, limited liability company or similar entity, any business in
competition with the business carried on by the Company or any of its
subsidiaries within the geographical areas in which the Company or its subsidiaries
are conducting their business operations or providing services as of the date
of the Executive’s termination of employment (a “Competitive Enterprise”). The
names of the Competitive Enterprises as of the date of this Agreement are set
forth on Exhibit B. The Company shall furnish the Executive with an
updated Exhibit B at least annually, provided, however, that in no event
shall the number of Competitive Enterprises exceed ten (10) such 

 10
 

Competitive Enterprises.  Notwithstanding the preceding sentence, the
Executive shall not be prohibited from owning less than five percent (5%) of
the equity of any publicly traded entity.

(b)                                 Non-Solicitation.

Without the
consent in writing of the Board (which consent shall be in the sole discretion
of the Board), during the Period of Employment, and for the period of eighteen
(18) months following termination of employment by the Company without Cause or
by the Executive for any reason, or for the period of eighteen (18) months
following termination of employment for any other reason, the Executive shall
not, in any manner, directly or indirectly (without the prior written consent
of the Company): (i) Solicit any Customer to transact business with a  Competitive Enterprise or to reduce or
refrain from doing any business with the Company, (ii) transact business with
any Customer that would cause the Executive to be a Competitive Enterprise,
(iii) interfere with or damage any relationship between the Company and a
customer or (iv) Solicit anyone who is then an executive of the Company (or who
was an executive of the Company on the date of the Executive’s termination of
employment or within the prior eighteen (18) months) to resign from the Company
or to apply for or accept employment with any other business or enterprise.

For purposes of
this Agreement, (i) a “Customer” means any customer or prospective customer of
the Company or its subsidiaries to whom the Executive provided services, or for
whom the Executive transacted business, or whose identity became known to the
Executive in connection with the Executive’s relationship or continued
employment with the Company or its subsidiaries, and (ii) “Solicit” means any
direct or indirect communication of any kind, regardless of who initiates it,
that in any way invites, advises, encourages or requests any person to take or
refrain from taking any action.

(c)                                  Effect
Of Material Breach.  In the event the
Executive materially breaches the provisions of paragraphs (a) or (b) of this
Section 6, the Company may immediately cease all payments to the Executive
under this Agreement, may seek recovery of payments received by the Executive
under this Agreement and shall be entitled to seek an injunction, restraining
order or other equitable relief restraining any such material breach, and
monetary damages for such material breach; provided, however, that nothing in
the preceding shall prohibit or otherwise impact the Executive’s right or
ability to dispute that a material breach has occurred.

7.                                       Notices.  Any notice, request, or other communication
required or permitted to be given hereunder shall be made to the following
addresses or to any other address designated by either of the parties hereto by
notice similarly given: (a) if to the Company, to the attention of General
Counsel, Merisant Company, 10 S. Riverside Plaza, Suite 850, Chicago, IL 60606;
and (b) if to the Executive, to Diana S. Ferguson, 270 East Pearson Street,
#803, Chicago, Illinois 60611, or at her last residence address identified on
the payroll records of the Company.  All
such notices, requests, or other communications shall be sufficient if made in
writing either (i) by personal delivery to the party entitled thereto, (ii) by
facsimile with confirmation of receipt, (iii) by certified mail, return receipt
requested, or (iv) by express courier service, and shall be effective upon
personal delivery, upon confirmation of receipt of facsimile transmission, upon

 11
 

the fourth day after
mailing by certified mail, or upon the second day after sending by express
courier service from within the United States.

8.                                       Assignment.  This Agreement is enforceable by the Company
and its affiliates and other related entities and may be assigned or
transferred by the Company to, and shall be binding upon and inure to the
benefit of, any parent, affiliate or other related entity of the Company or any
entity which at any time, whether by merger, purchase, or otherwise, acquires
all or substantially all of the assets, stock or business of the Company.  The Executive may not assign any of her
rights or obligations under this Agreement. 
The Company shall cause any successor to expressly assume and agree, in
writing delivered to Executive, to perform this Agreement in the same manner
and to the same extent that the Company would be required to perform if no such
succession had taken place, and failure to do so shall be grounds for Executive
to voluntarily terminate her employment at any time within thirty days
thereafter which termination shall be treated for all purposes as termination
for Good Reason (and other than due to Incapacity).

9.                                       Mediation
and Arbitration.

(a)                                  Except
for claims or disputes under Section 5 or Exhibit A, the Executive and
the Company agree that, to the extent permitted by law, all claims or disputes
arising out of or relating to this Agreement, the parties’ employment
relationship, or the termination of such relationship that may exist or arise
between the Executive and the Company, or any subsidiary, parent, affiliate,
other related entity, benefit plan, successor or permitted assign of the
Company, or any owner, director, officer, member, employee, owner, shareholder,
agent, or representative of any of them (in their respective capacities as
such) shall in the first instance be submitted for non-binding mediation in
Chicago, Illinois, in accordance with the Employment Mediation procedures of
the American Arbitration Association (“AAA”) (as in effect or amended from time
to time) not later than thirty (30) days after any such dispute arises.  Company and Executive agree that all
applicable statutes of limitation shall be tolled during the mediation
process.  In no event, however, shall
either party be required to refrain from initiating arbitration as detailed in
paragraph 9(b) below if the parties have been unable to arrive at settlement
within thirty (30) days following the initial meeting of the parties with the
mediator.

(b)                                 Except
for claims or disputes under Section 5 or Exhibit A, the Executive and
the Company agree that, to the extent permitted by law, all claims or disputes
arising out of or relating to this Agreement, the parties’ employment
relationship, or the termination of such relationship that may exist or arise
between the Executive and the Company, or any subsidiary, parent, affiliate,
other related entity, benefit plan, successor or permitted assign of the
Company, or any owner, director, officer, member, employee, owner, shareholder,
agent, or representative of any of them (in their respective capacities as
such) shall be submitted for binding arbitration in Chicago, Illinois and
resolved by a member of a Chicago, Illinois arbitration panel (or by such other
arbitrator or in such other place to which the parties agree) in accordance
with the National Rules for the Resolution of Employment Disputes of the AAA
(as in effect or amended from time to time), except as set forth below.  Claims subject to arbitration hereunder
include without limitation claims by the Executive for employment discrimination,
harassment, retaliation, wrongful termination or defamation under any federal,
state, or local law, regulation, ordinance, 

 12
 

or executive order or
under common law, and further include without limitation claims under any of
the following statutes (as in effect or amended from time to time): the
Illinois Human Rights Act, the Chicago and Cook County Human Rights Ordinances,
Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment
Act, the Americans With Disabilities Act, the Family and Medical Leave Act and
the Employee Retirement Income Security Act.

(c)                                  Notwithstanding
the fact that the Company and the Executive have entered into this individually
negotiated Employment Agreement, the cost of arbitration shall be allocated
according to the AAA’s rules for allocating the cost of arbitration pursuant to
an employer-promulgated plan. If the Executive prevails in an arbitration
proceeding against the Company instituted pursuant to Section 9(b), then the
Company shall reimburse the Executive for all reasonable legal fees and
disbursements incurred by the Executive in connection with such arbitration
proceeding promptly after receipt of reasonably detailed invoices relating
thereto.

(d)                                 The
arbitrator shall have no power to modify the provisions of this Agreement (except
pursuant to Section 14 herein or Exhibit A), or to make an award or
impose a remedy that is not available to a court of general jurisdiction
sitting in Chicago, Illinois or that was not requested by a party to the claim
or dispute, and the jurisdiction of the arbitrator is limited accordingly.  The arbitrator shall apply the substantive
internal law of the state of Illinois, except as otherwise required by
law.  The arbitrator’s decision or award
shall be final and binding, and judgment thereupon may be entered in any
Illinois or other court having jurisdiction thereof.

(e)                                  Notwithstanding
the foregoing, the Company may in its discretion immediately pursue any and all
available legal and equitable remedies for the Executive’s violation of any
provision of Section 5 or Exhibit A in any court of competent
jurisdiction.

10.                                 Amendment
And Waiver.  This Agreement may not
be amended orally and may only be amended by written instrument signed by both
parties (subject to Section 14 herein and Exhibit A).  A waiver by either party hereto of any of its
rights or remedies under this Agreement on any occasion shall not be a bar to
the exercise of the same right or remedy on any subsequent occasion or of any
other right or remedy at any time.

11.                                 Governing
Law. This Agreement shall be governed by the internal laws of the state of
Illinois, without regard to its conflict of laws rules.

12.                                 Headings;
Construction.  The Section headings
used herein are for convenience of reference only and are not to be considered
in construction of the provisions of this Agreement.  The use of the word “including” in this
Agreement shall be by way of example rather than by limitation.

13.                               Entire
Agreement and Survival. This Agreement (including Exhibit A and Exhibit
B hereto) contains the entire agreement between the parties with respect to
the subject matter contained herein and supersedes all prior or contemporaneous
negotiations, understandings or agreements between the parties, whether written
or oral, with respect to such subject matter. 
Sections 4 through 17 herein and Exhibit A and Exhibit B
to this Agreement shall survive and 

 13
 

continue in full force
and effect in accordance with their respective terms, notwithstanding any
termination of the Employment Period or the Executive’s employment.

14.                                 Severability.  Whenever possible, each provision of this
Agreement will be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement is held to be prohibited
by or invalid under applicable law, such provision will be ineffective only to
the extent of such prohibition or invalidity, without invalidating the
remainder of such provision or the remaining provisions of this Agreement.

15.                                 Condition
Precedent.  This Agreement and the
Executive’s employment hereunder will not be effective unless and until the
Board duly approves this Agreement and each of the Boards of Directors of the
Company, Merisant Worldwide Inc., and Merisant Company appoints Executive to
the position of Chief Financial Officer, Executive Vice President, Finance of
each of the corporations.  This Agreement
shall be null and void and shall be of no force and effect in the event that
the Board does not so approve this Agreement for any or no reason.

16.                                 Fees.  The Company shall pay the legal fees and
disbursements incurred by the Executive’s legal counsel in connection with the
preparation and negotiation of this Agreement up to a maximum of $10,000
promptly after receipt of reasonably detailed invoices relating thereto.

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

18.                                 Inconsistency.
In the event of any inconsistency between this Agreement and any other
agreement, plan, award or program, this Agreement shall control.

19.                                 Compliance
with Section 409A.  Notwithstanding
any of the foregoing to the contrary, if any payments of money, delivery of
shares of Company stock or other benefits due to the Executive hereunder could
cause the application of an accelerated or additional tax under Section 409A of
the Internal Revenue Code, such payments, delivery of shares or other benefits
(x) shall, if compliance with Section 409A of the Code can be effected by
delaying such payments, delivery of shares or other benefits, be delayed until
the earliest date on which such payments, delivery of shares or other benefits
may be made without causing the application of an accelerated or additional tax
under Section 409A of the Code, and (y) if compliance with Section 409A of the
Code cannot be effected by delaying such payments, delivery of shares or other
benefits, may be restructured, to the extent possible, in a manner, determined
by the Company and reasonably acceptable to the Executive, that does not cause
such accelerated or additional tax.

20.                                 Indemnification.  The Company shall indemnify and hold
Executive harmless to the maximum extent provided under the Company’s charter,
by-laws and applicable law and shall enter into an indemnification agreement
applicable to its senior officers.  The
Company shall insure Executive under a policy of directors and officers
liability insurance, during and 

 14
 

following termination of
employment, to the same extent as it insures the chief executive officer and
members of the Board.

The Executive
hereby acknowledges that the terms of this Agreement are subject to review from
time to time by the Company in order to comply with federal, state and tax laws
and regulations.  If it is reasonably
necessary, appropriate or convenient to amend the terms of this Agreement in
order to comply with such laws and regulations or to otherwise avoid or
mitigate a material adverse effect to the Company or the Executive under
applicable tax laws and regulations, the Company and Executive will negotiate
in good faith to amend this Agreement so long as the economic benefit or
obligations under the Agreement will be substantially similar.

 15
 

THE PARTIES ACKNOWLEDGE
BY SIGNING BELOW THAT THEY HAVE READ AND UNDERSTAND THE ABOVE AND INTEND TO BE
BOUND THEREBY AS OF THE DATE FIRST WRITTEN ABOVE:

MERISANT COMPANY

	
  By: 

  	
  /s/ Diana S. Ferguson

  	
   

  	
  By: 

  	
  /s/ Jonathan W. Cole

  	
   

  
	
   

  	
  Diana S. Ferguson

  	
  Name:  Jonathan
  W. Cole

  	
   

  
	
   

  	
  Title:  VP and
  General Counsel

  
							

 

 16Exhibit
10.1

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

This
AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”), dated as of
August 9, 2007, between TRC Companies, Inc., a Delaware Corporation (the “Company”)
and Christopher P. Vincze (the “Executive”).

WHEREAS, the Company and Executive entered into that certain Employment Agreement dated March 18, 2005 which was amended and restated as of January 25, 2006 (the “Original Employment Agreement”);
WHEREAS, the Company and Executive desire to amend and restate the Original Employment Agreement, all as hereinafter provided;
WHEREAS, the Executive, in his capacity of Chairman of the Board and Chief Executive Officer of the Company, the stock of which is publicly traded, shall be deemed a “specified employee” as defined under Section 409A(a)(2)(B) of the Internal Revenue Code of 1986, as amended (“Code”); and
WHEREAS, this Agreement is intended to comply with Code Section 409A and the guidance thereunder, and shall be interpreted as operating in accordance therewith.
NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained, the Parties agree as follows:

1.             Effective Date and Employment
Term.

(a)           Effective
Date.  This Agreement shall be
effective on July 1, 2007 (the “Effective Date”).

(b)           Employment Term.  The term of the Executive’s employment under
this Agreement shall commence on the Effective Date, and continue for a period
of three (3) years from the Effective Date (the “Initial Term”), unless sooner
terminated pursuant to Section 4.  Upon
the expiration of such Initial Term, it is anticipated that Executive will
continue as an employee-at-will upon terms and conditions generally available
to individuals at his level in the Executive Management Group of the Company,
subject, however, to the provisions of Subsections 4(d) and 4(e) hereof.  The Initial Term and any successive term
shall hereinafter be referred to as the “Employment Term.”

2.             Position,
Reporting, and Other Activities.

(a)           Position.  The Company shall employ the Executive as its
Chairman of the Board and Chief Executive Officer in accordance with the terms
and conditions herein.  The Executive
shall devote his full professional time and attention (except for vacation,
sick leave, and other excused leaves of absence) to the performance of the
services customarily incident to such office, and of such other duties as may
be reasonably assigned to the Executive from time to

 1
 

time by the Company’s Board of Directors (the “Board”).  The Company will provide office facilities,
secretarial, and clerical support consistent with customary practices of the
Company.

(b)           Reporting.  During the Employment Term, the Executive
shall be required to report to the Board.

(c)           Other Activities.  Except upon the prior written consent of the
Board of Directors of the Company (the “Board”), during the Employment Term,
the Executive will not: (i) accept any other employment; or (ii) engage,
directly or indirectly, in any other business activity (whether or not pursued
for pecuniary advantage) that is competitive with, or that places him in a
competing position to, the Company. 
Personal passive investments and personal business affairs not
inconsistent with this Agreement, or teaching, writing or publicly speaking are
permitted, so long as these activities do not interfere or conflict with the
Executive’s duties hereunder.

3.             Compensation
and Other Benefits.

(a)           Base Salary.  In consideration of the services to be
rendered hereunder, the Executive shall be paid a base salary of $465,000.00
per year, payable in accordance with the Company’s payroll practices in effect
during the course of this Agreement (the “Annual Base Salary”).  The Annual Base Salary shall be reviewed
annually by the Compensation Committee or the Board.

(b)           Annual Bonuses.  As further compensation for the services of
the Executive, the Executive shall be eligible, during the Employment Term, for
an annual bonus from the Company pursuant to the Executive Management Bonus
Plan.

(c)           Annual Long Term Incentive Grants.  The Executive will receive annual grants of
Awards, as such term is defined in the Company’s 2007 Equity Incentive Plan
(the “Plan”), for the Employment Term.

(d)           Benefits. Executive shall have
the right to participate in and to receive benefits from all present and future
life, vacation, accident, disability, medical, pension, and savings plans and
all similar benefits made available generally to executives of the
Company.  The amount and extent of
benefits to which the Executive is entitled shall be governed by any applicable
benefit plan, as it may be amended from time to time.  Executive shall receive no less than four (4)
weeks paid vacation each year which shall accrue if not used in any year and be
paid to Executive or carried forward to subsequent years consistent with
Company policy.  The Company shall also
carry D&O Liability Insurance coverage for the benefit of its officers and
directors including Executive.

(e)           Automobile Allowance.  During the Employment Term, the Company shall
provide the Executive with an automobile allowance of $700 per month to be
increased consistent with policies applicable to other executives of the
Company.

(f)            Expenses.  The Company shall reimburse the Executive for
reasonable travel and other business expenses incurred by the Executive in the
performance of his duties 

 2
 

hereunder in accordance with the Company’s general
policies, as they may be amended from time to time during the course of this
Agreement.  Any such reimbursement for
expenses shall occur no later than two and a half (2-1/2) months after the end
of the fiscal year in which Executive incurs such expense.

(g)           Restricted Stock.  The Company shall grant to the Executive
20,000 restricted shares the Company’s common stock, par value $0.01 per share
(the “Stock”), pursuant to the Plan.  The
Stock will vest in equal one-third increments upon the date of grant and on the
next two anniversaries of such grant, and to the extent unvested, shall vest in
its entirety upon a Change of Control, as defined herein, or upon termination
of employment pursuant to Subsections 4(a), 4(b), 4(d) or 4(e) hereof.

4.             Termination
of Employment.

(a)           By Death.  If the Executive dies prior to the expiration
of the Employment Term, his bonus pursuant to Section 3(b) hereof, and accrued
but unused vacation will be prorated through the day of his death and shall be
paid to his beneficiaries or estate six (6) months after the Executive’s death;
provided that the manner and timeframe in which the bonus will be paid shall be
pursuant to Section 4(f).  In addition,
Executive agrees to enroll in the Company’s life insurance plan, and Company
will provide a benefit to Executive’s estate equal to the amount, if any, such
life insurance benefit is less than Executive’s Annual Base Salary hereunder.  Thereafter, the Company’s obligations
hereunder shall terminate.

(b)           By Disability.  If the Executive becomes “Permanently
Disabled” (as defined below) prior to the expiration of the Employment Term,
then the Company shall be entitled to terminate his employment, subject to the
requirements of applicable law, and the Executive shall be entitled to receive
disability benefits in accordance with any applicable disability policy
maintained by the Company as of the date of such disability, in which policy
Executive shall enroll.  Six (6) months
after any such termination, the Executive will be paid the difference, if any,
by which amounts paid under such disability policy are less than the greater of
(i) the Annual Base Salary remaining for the Initial Term hereunder or (ii) two
times Executive’s Annual Base Salary hereunder, and his bonus pursuant to
Section 3(b) hereof will be prorated through the date of termination and paid
to him six (6) months after his date of termination.  Additionally the Executive shall receive a
cash lump sum payment on the date of termination for accrued but unused
vacation for the year of termination, and thereafter the Company shall have no
further obligations to the Executive hereunder other than to provide the
Executive with the disability benefits as set forth in this subparagraph.  For the purposes of this subparagraph, the
Executive shall be deemed “Permanently Disabled” when, and only when, the
Company determines, after consultation with the Executive’s physician or a physician
whom the Company shall select, that the Executive suffers a physical or mental
disability that prevents the Executive from performing the essential duties of
his position with reasonable accommodations as may be required by law: (i) for
a period of one hundred twenty (120) consecutive days; or (ii) for an aggregate
of one hundred fifty (150) business days in any twelve (12) month period.

(c)           By the Company For Cause.  If the Company terminates the Executive for “Cause”
(as defined below), then the Company shall pay a lump sum to the Executive six
(6) 

 3
 

months after such termination in an amount equal to
his accrued Annual Base Salary and accrued but unused vacation plus all
business expenses and the car allowance through the date of such termination,
and thereafter the Company shall have no obligations to the Executive
hereunder.  For purposes of this
Agreement, “Cause” shall mean: (i) any act or omission that constitutes a
material breach by the Executive of any of his obligations under this Agreement,
or under any other material agreement with, or material written policy of the
Company, which act or omission is not cured within thirty (30) days of the
Company providing the Executive with notice of the act, omission, or failure
deemed to constitute Cause; (ii) the failure or refusal by the Executive to
follow any lawful reasonable written direction of the Board, which failure or
refusal is not cured within thirty (30) days of the Company providing the
Executive with reasonably detailed written notice of the failure or refusal
deemed to constitute Cause; (iii) the conviction of the Executive of a felony
or a crime involving moral turpitude, or the perpetration by the Executive of a
fraud; or (iv) any other willful act or omission by the Executive, which is or
will be materially injurious to the financial condition or business reputation
of, or is otherwise materially injurious to, the Company, which act or omission
is not cured within thirty (30) days of the Company providing the Executive
with reasonably detailed written notice of the act or omission deemed to
constitute Cause.

(d)           By the Executive For Good Reason.  The Executive may terminate, without
liability, the Employment Term for “Good Reason” (as defined below) upon
advance written notice of thirty (30) business days to the Company if such
circumstance claimed to constitute Good Reason is not cured within such 30-day
period.  Six (6) months after such
termination, the Company shall pay to the Executive a lump sum in an amount
equal to the greater of (i) the Annual Base Salary due Executive for the
remainder of the Initial Term hereunder or (ii) two times the Annual Base
Salary.  In addition, the Company shall
pay to the Executive six (6) months after such termination his accrued Base
Salary, accrued but unused vacation, outstanding business expenses, and
pro-rated bonus pursuant to Section 3(b) hereof through the date of such
termination. To the extent permitted by applicable law, the Company will also
provide the Executive with continued coverage under the Company’s benefit plans
and the benefits described in Sections 3(d), 3(e) and 3(f) herein for a period
equal to the greater of (i) the remainder of the Initial Term hereunder or (ii)
two (2) years or at Executive’s option solely with respect to automobile and
related expenses a lump sum payment in such amount equal to the greater of (i)
said benefits for the remainder of the Initial Term hereunder or (ii) for a
twenty-four (24) month period to be paid six (6) months after the date of such
termination.  Notwithstanding anything
herein to the contrary, if such coverage cannot be continued to the Executive
after such termination of employment, the Company shall, six (6) months after
such termination, pay the Executive in a lump sum an amount equivalent to the
cost of such coverage.  Thereafter, the
Company’s obligations hereunder shall terminate.  For purposes of this Agreement, Good Reason
shall exist if: (i) there is a permanent assignment to the Executive of a role
materially inconsistent with, or which constitutes a material adverse
diminution in, the Executive’s position, duties, responsibilities, or status
with the Company, or a material adverse diminution in the Executive’s reporting
responsibilities, title, or offices; or (ii) there is a material breach by the
Company of this Agreement or any other material agreement between the Company
and the Executive or (iii) Executive is required to relocate his principal
place of employment to a location outside a radius of 50 miles from Company’s
offices, in Lowell, Massachusetts.

 4
 

 

(e)           By the Company other than by
Reason of Death, Disability, or Cause. 
If the Company terminates the Executive’s employment for any reason
other than death, disability, or Cause, the Company shall pay to the Executive
six (6) months after the date of termination a lump sum payment equal to the
greater of (i) the Annual Base Salary due Executive under this Agreement for
the remainder of the Initial Term; or (ii) two (2) years of Annual Base Salary.  In addition, six (6) months after such
termination, the Company shall pay to the Executive his accrued Base Salary,
accrued but unused vacation, and pro-rated bonus pursuant to Section 3(b)
hereof through the date of such termination plus reimbursement for all business
expenses.  Further, to the extent
permitted by law, the Company shall pay all of the benefits described in
Sections 3(d), 3(e) and 3(f) herein for the period described in the first
sentence of this Subsection 4(e) following such termination or at Executive’s
option solely with respect to automobile and related expenses in a lump sum
payment equal to such amount to be paid six (6) months after the date of such
termination.  Notwithstanding anything
herein to the contrary, if such coverage cannot be continued to the Executive
after such termination of employment, the Company shall, within six (6) months
after such termination, pay the Executive in a lump sum an amount equivalent to
the cost of such coverage.  Thereafter,
the Company’s obligations hereunder shall terminate.

(f)            Bonus Calculation.  The Board shall determine the amount of
pro-rated bonus due to the Executive under Section 3(b) hereof for the fiscal
year in which any termination of employment occurs pursuant to Section 4(a)
(b), (d) or (e) by calculating the bonus that would have been paid to the
Executive as if he had remained employed through the end of the fiscal year and
multiplying that amount by the number of days of such fiscal year during which
the Executive was employed by the Company divided by 365 days.

5.             Proprietary
Information.

(a)           Defined.  “Proprietary Information” is all proprietary,
secret, or confidential information pertaining to the business of the Company.

(b)           General Restrictions on Use.  The Executive agrees to hold all Proprietary
Information in strict confidence and trust for the sole benefit of the Company,
and not, directly or indirectly, to disclose, use, copy, publish, summarize, or
remove from the Company’s premises any Propriety Information except: (i) during
the Employment Term to the extent necessary to carry out the Executive’s
responsibilities under this Agreement; (ii) to the extent that such Proprietary
Information is generally available to the public other than as a result of
disclosure by the Executive; and (iii) after termination of the Employment Term
as specifically authorized in writing by the Board.

6.             No
Assignment.

(a)           Neither this Agreement nor any right
or interest hereunder shall be assignable by the Executive, his beneficiaries,
or legal representatives without the Company’s prior written consent; provided
that nothing in this subsection 6(a) shall preclude the Executive from
designating a beneficiary to receive, upon his death, any benefit payable
hereunder, or the 

 5
 

executors, administrators, or other legal representatives
of the Executive’s estate from assigning any rights hereunder to the person or
persons entitled thereto.

(b)           Except as otherwise required by law,
without the Company’s prior written consent, no right to receive payments under
this Agreement shall be subject to anticipation, commutation, alienation, sale,
assignment, encumbrance, charge, pledge, or hypothecation, or to exclusion,
attachment, levy, or similar process or assignment by operation of law, and any
attempt, voluntary or involuntary, to effect any such action shall be null,
void, and of no effect.

(c)           The Company agrees that in any Change
of Control the terms of this Agreement will survive and will be assumed by any
successor to Company in such Change of Control.

7.             Change
of Control.  For purposes of this
Agreement, Change of Control shall mean (i) the merger or consolidation of
Company with another entity, as a result of which Company will not be the
surviving entity; (ii) the sale of all or substantially all of Company’s assets
or all or substantially all of the assets of Company’s wholly-owned
subsidiaries; (iii) the acquisition, by an entity, person or group of
beneficial ownership (as defined in Rule 13d-3 under the Securities and
Exchange Act of 1934) of the capital stock of Company if, immediately after
such acquisition, such entity, person or group is entitled to exercise more
than 33.33% of the outstanding voting power of all capital stock of the Company
entitled to vote at elections of directors.

8.             Non-Competition.

(a)           By and in consideration of the
Company’s entering into this Second Amended and Restated Employment Agreement
and the Salary and other compensation and benefits, and the other covenants and
agreements of the Company hereunder, the Executive agrees that the Executive
will not, directly or indirectly, during the period beginning on the date of
this Agreement and ending one (1) year following any termination hereunder,
engage in the business of consulting or engineering of the type offered by the
Company (including acting as a director, officer, employee, partner or
stockholder, member, owner or proprietor of, consultant, advisor or agent to,
any entity engaged in such business) within any state in which the Company or
any of its subsidiaries or affiliates is carrying on such business.

(b)           Executive agrees that for a period of
one year following any termination hereunder, Executive will not, without the
prior written consent of the Company, directly or indirectly, solicit, induce
or attempt to solicit or induce any employee, agent or other representative or
associate of the Company, to terminate its relationship with the Company or in
any way interfere with such a relationship.

9.             Notices.  All notices, requests, claims, demands, and
other communications under this Agreement shall be in writing and shall be
deemed given if delivered personally or sent by overnight courier (providing
proof of delivery) to the parties at the following addresses (or at such
address for a party as shall be specified by like notice):

 6
 

 

	
  

  	
  If to the Company

  
	
   

  	
   

  
	
   

  	
  TRC Companies,
  Inc.

  
	
   

  	
  5 Waterside
  Crossing

  
	
   

  	
  Windsor,
  Connecticut 06095

  
	
   

  	
  Attn: General
  Counsel

  
	
   

  	
   

  
	
   

  	
  If to
  the Executive:

  
	
   

  	
   

  
	
   

  	
  Christopher P.
  Vincze

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  With a
  copy to:

  
	
   

  	
   

  
	
   

  	
  Frank A. Segall

  
	
   

  	
  Burns &
  Levinson, LLP

  
	
   

  	
  125 Summer
  Street

  
	
   

  	
  Boston,
  Massachusetts 02110

  

 

10.           Entire Agreement.  The terms of this Agreement are intended by
the parties to be the final expression of their agreement with respect to the
employment of the Executive by the Company and may not be contradicted by
evidence of any prior or contemporaneous agreement.  The parties further intend that this
Agreement shall constitute the complete and exclusive statement of its terms
and that no extrinsic evidence whatsoever may be introduced in any judicial,
administrative, or other legal proceeding involving this Agreement.

11.           Amendments; Waivers.  This Agreement may not be modified, amended,
or terminated except by an instrument in writing, signed by the Executive and
by a duly authorized representative of the Company other than the
Executive.  By an instrument in writing
similarly executed, either party may waive compliance by the other party with
any provision of this Agreement that such other party was or is obligated to
comply with or perform; provided that such waiver shall not operate as a waiver
of, or estoppel with respect to, any other or subsequent failure.  No failure to exercise and no delay in
exercising any right, remedy, or power hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of any right, remedy, or
power hereunder preclude any other or further exercise thereof, or the exercise
of any other right, remedy, or power provided herein, or by law or in equity.

12.           Confidentiality.  The Executive agrees that the terms and
conditions of this Agreement are confidential and shall not be disclosed by the
Executive to any third parties, other than the Executive’s lawyers and other
professional advisors, unless such disclosure is required by law.

 7
 

 

13.           Governing Law.  The validity, interpretation, enforceability,
and performance of this Agreement shall, to the extent not otherwise preempted
by federal law, be governed by and construed in accordance with the law of the
Commonwealth of Massachusetts without giving effect to its conflict of law
principles.

14.           Executive Acknowledgment.  The Executive acknowledges: (i) that he
has consulted with or has had the opportunity to consult with independent
counsel of his own choice concerning this Agreement and has been advised to do
so by the Company; and (ii) that he has read and understands the
Agreement, is fully aware of its legal effect, and has entered into it freely
based on his own judgment.

15.           Binding Effect.  This Agreement shall be binding upon and shall
inure to the benefit of the Company and its respective successors and assigns,
but the rights and obligations of the Executive are personal and may not be
assigned or delegated without the Company’s prior written consent.

16.           Arbitration.  Any dispute or controversy between the
parties arising out of or under this Agreement, the Executive’s employment with
the Company, or the termination thereof, including without limitation, claims
under any federal, state, or local statute preventing discrimination, shall not
be decided in court, but instead shall be submitted to final, binding
arbitration before the American Arbitration Association (the “AAA”) in Boston,
Massachusetts.  The National Rules for
Resolution of Employment Disputes shall be used by the AAA to resolve any
disputes between the parties.  Each party
shall bear its own expenses arising under this arbitration provision.

17.           Legal Fees.  The Company shall pay all legal fees plus and
disbursements incurred by the Executive in connection with the negotiation and
preparation of this Agreement.

18.           Taxes.  All payments hereunder shall be subject to
applicable withholdings and reported as wages to the applicable state and
federal authorities.  Notwithstanding
anything herein to the contrary, no particular tax result for the Executive
with respect to any income recognized by the Executive in connection with this
Agreement is guaranteed, and the Executive shall be responsible for any taxes,
penalties and interest imposed on him including, but not limited to, under
Section 409A of the Code in connection with the Agreement.

19.           Severability.  Each provision of this Agreement shall be
treated as a separate and independent clause, and the invalidity or
unenforceability of any one clause shall in no way impair the enforceability of
any other clause herein.

 8
 

 

The
parties have duly executed this Agreement as of the date first written above.

	
  

  	
  TRC COMPANIES, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Edward W. Large

  
	
   

  	
  Name:

  	
  Edward W. Large

  
	
   

  	
  Title:

  	
  Chairman, Compensation Committee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Christopher P. Vincze

  
	
   

  	
  Name:

  	
  Christopher P. Vincze

  
	
   

  	
  Title:

  	
  Chief Executive Officer and 

  
	
   

  	
   

  	
  Chairman of the Board of Directors

  

 

 9

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