Document:

EXHIBIT 10.2

June 9,
2005

BETWEEN:

BIOJECT
MEDICAL TECHNOLOGIES INC.

AND:

DIRECTOR

A
BIOJECT DIRECTOR

RESTRICTED
STOCK UNIT AGREEMENT

AND NOTICE OF GRANT

 

BIOJECT RESTRICTED STOCK UNIT GRANT AGREEMENT

AND NOTICE OF GRANT

This
BIOJECT RESTRICTED STOCK UNIT GRANT AGREEMENT AND NOTICE OF GRANT (this “Agreement”)
is made as of the 9th  day of June, 2005 (the “Effective
Date”). Capitalized Terms used in this
Agreement, if not otherwise defined, have the meanings given them in the
Restated 1992 Stock Incentive Plan, as amended September 13, 2001, March 13,
2003, April 11 and April 26, 2005 (the “Plan”).

BETWEEN:

BIOJECT MEDICAL TECHNOLOGIES INC.

20245
SW 95th Avenue

Tualatin,
Oregon  97062                                                                                                                              (“Company”)

AND:

DIRECTOR                                                                                                                                          (“Participant”)

WHEREAS, pursuant to Section 10 of the Plan, the
Participant, as a non-employee director of the Company, is entitled to receive
a Restricted Stock Unit Award; and

WHEREAS, the
Restricted Stock Unit Award provided in this Agreement is offered in
consideration for the Participant’s service with the Company, and the
Participant is willing to abide by the obligations imposed under this
Agreement;

NOW, THEREFORE, in
consideration of the mutual benefits hereinafter provided, and each intending
to be legally bound, the Company and the Participant hereby agree as follows:

1.                                       Grant Of Restricted Stock Units; Acceptance.

(a)           Subject
to the restrictions, terms and conditions of the Plan and this Agreement, the
Company hereby awards to the Participant three thousand (3,000) Restricted Stock
Units (the “Award”) with each unit representing the unsecured right to receive
one share of the Company’s Common Stock.

(b)           The
grant of Restricted Stock Units shall be null and void unless the Participant
shall accept this Agreement by executing it in the space provided below and
returning it to the Company.

2.                                       Delivery of Certificates.

(a)           Subject to Section 6, the Company shall issue
to the Participant a stock certificate representing a number of shares of
Common Stock equal to the number of vested Restricted Stock Units credited to
Participant under this Agreement on the date such Restricted Stock Units vest
pursuant to Section 3 (the “Issuance Date”). The Company shall not be
required to issue fractional shares of Common Stock upon settlement of the Award.

(b)           The
Participant shall have no direct or secured claim in any specific assets of the
Company or the shares of Common Stock to be issued on the Issuance Date and
will have the status of a general unsecured creditor of the Company.

3.             Vesting and Forfeiture.

(a)           Vesting Schedule-Award.
 Subject to the limitations contained
herein, the Restricted Stock Units shall vest as follows:

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The restricted stock units will vest with respect to
half of the subject shares six months after the grant date, with the remaining
shares to vest on the anniversary of the grant date.

Any Restricted Stock Units that do not vest for any
reason, for example, a service date is not reached, will be forfeited to the
Company and will again be available for issuance under the Plan.

(b)           Vesting Schedule-Change
in Control Units.

In the event there is a Change in Control Event as
defined in IRS Notice 2005-1 or any successor regulation, the Award
shall be deemed earned and 100% vested on the effective date of the Change in
Control Event.

(c)           Forfeiture.
As of the Effective Date, all of the Restricted Stock Units are subject to
forfeiture to the Company, without compensation, upon termination of the
Participant’s service to the Company for any reason. Restricted Stock Units
that have not yet vested and are subject to forfeiture without compensation are
referred to in this Agreement as “Unvested Units.”  Restricted Stock Units that have vested and
are no longer subject to forfeiture without compensation (but remain subject to
the other terms of this Agreement) are referred to in this Agreement as “Vested
Units.”  Notwithstanding anything in this
Agreement to the contrary, no Restricted Stock Units will become Vested Units
after the effective date of termination of the Participant’s service to the
Company (the “Termination Date”). There shall be no proportionate or partial
vesting in the periods prior to the applicable vesting dates and all vesting
shall occur only on the appropriate vesting date.

(d)           Termination and
Termination Date. In
case of any dispute as to whether the Participant’s service to the Company is
terminated, the Committee shall have sole discretion to determine whether the
Participant’s service to the Company has been terminated and the Termination
Date.

(e)           Adjustments.
If there is any change made in the Common Stock, without the receipt of
consideration by the Company (through merger, consolidation, reorganization,
recapitalization, reincorporation, stock dividend, dividend in property other
than cash, stock split, liquidating dividend, combination of shares, exchange
of shares, change in corporate structure or other transaction not involving the
receipt of consideration by the Company) occurring after the Effective Date, as
described in the Plan, then an adjustment shall be made to this Award so that
on the Issuance Date, the Participant shall receive such securities, cash
and/or other property as would have been received had the Participant held a
number of shares of Common Stock equal to the number of Restricted Stock Units
held by the Participant pursuant to this Award immediately prior to such change
or distribution, and such an adjustment shall be made successively each time
any such change shall occur.

4.             Restrictions on Transfers.

(a)           Restriction on Transfer. Participant shall not sell, assign,
transfer, pledge, hypothecate, or otherwise encumber or dispose of the
Restricted Stock Units that are subject to forfeiture pursuant to Section 3
until the restrictions on such Restricted Stock Units have lapsed or been
removed. Notwithstanding the foregoing, the Participant may transfer Restricted
Stock Units (i) by will or the laws or descent and distribution or (ii) pursuant
to beneficiary designation procedures approved by the Company.

(b)           Transferee Obligations. Each person (other than the Company)
to whom the Restricted Stock Units are transferred, as a condition precedent to
the validity of such transfer, shall acknowledge in writing to the Company that
such person is bound by the provisions of this Agreement to the same extent
such Restricted Stock Units would be so subject if retained by the Participant.

5.                                       Rights as Shareholder. This grant of Restricted Stock Units
does not confer upon the Participant any rights as a shareholder of the Company
(including, without limitation, voting and dividend rights) unless and only to
the extent shares of Common Stock are issued on the Issuance Date. The Company shall
credit 

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the
Participant with a number of Restricted Stock Units whose underlying shares of
Common Stock have a fair market value (as determined by the Committee or the
Board of Directors) equal to the dividend paid on each share of Common Stock,
multiplied by the total number of Restricted Stock Units subject to the Award
described in this Agreement. Restricted Stock Units issued in respect of
dividend equivalents shall be subject to the same rules and restrictions
as Restricted Stock Units originally subject to the Award.

6.                                       Withholding Taxes.

(a)           Withholding Tax Payment
Obligations. As a condition precedent to the delivery to the
Participant of any shares of Common Stock subject to the Award, the Participant
shall, upon request by the Company, pay to the Company such amount of cash as
the Company may be required, under all applicable federal, state, local or
other laws or regulations, to withhold and pay over as income or other
withholding taxes (the “Required Tax Payments”) with respect to the Award. If
the Participant shall fail to advance the Required Tax Payments after request
by the Company, the Company may, in its discretion, deduct any Required Tax
Payments from any amount then or thereafter payable by the Company to the
Participant.

(b)           Method of Payment. The Participant may elect to satisfy the
obligation to advance the Required Tax Payments by any of the following means: (1) a
cash payment to the Company pursuant to Section 6(a), (2) delivery
(either actual delivery or by attestation procedures established by the
Company) to the Company of previously owned whole shares of Common Stock (which
the Participant has good title, free and clear of all liens and encumbrances)
having a fair market value, determined as of the date the obligation to
withhold or pay taxes first arises in connection with the Award (the “Tax Date”),
equal to the Required Tax Payments, (3) authorizing the Company to
withhold from the shares of Common Stock otherwise to be delivered to the
Participant pursuant to the Award, a number of whole shares of Common Stock
having a fair market value, determined as of the Tax Date, equal to the
Required Tax Payments, (4) a cash payment by a broker-dealer acceptable to
the Company through whom the Participant has sold the shares with respect to
which the Required Tax Payments have arisen, except as prohibited by Section 402
of the Sarbanes-Oxley Act of 2002 or (5) any combination of (1), (2) and
(3). The Committee shall have sole discretion to disapprove of an election
pursuant to any of clauses (2)-(5). Shares of Common Stock to be delivered or
withheld may not have a fair market value in excess of the minimum amount of
the Required Tax Payments. Any fraction of a share of Common Stock that would
be required to satisfy such an obligation shall be disregarded and the
remaining amount due shall be paid in cash by the Participant. No certificate
representing a share of Common Stock shall be delivered until the Required Tax
Payments have been satisfied in full.

7.                                       Compliance with Laws and Regulations. The issuance and transfer of the
Shares will be subject to and conditioned upon compliance by the Company and
Participant with all applicable state and federal laws and regulations and with
all applicable requirements of any stock exchange or securities market on which
the Company’s Common Stock may be listed at the time of such issuance or
transfer.

8.                                       Successors and Assigns. The Company may assign any of its
rights under this Agreement. This Agreement shall be binding upon and inure to
the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this
Agreement will be binding upon Participant and Participant’s heirs, executors,
administrators, successors and assigns.

9.                                       No Right to Employment. Nothing
contained in this Agreement shall confer upon the Participant any right with
respect to the continuation of the Participant’s office or employment nor shall
anything contained in this Agreement interfere in any way with the right of the
Company to adjust Participant’s compensation from the level in existence at the
time of the grant hereof. Nothing contained in this Agreement shall interfere
in any way with the right of the Company or the Participant to terminate
Participant’s employment with the Company.

10.                                 Laws Applicable to Construction. The interpretation, performance and
enforcement of this Agreement shall be governed by the laws of the State of
Oregon. The parties agree that the forum for resolution of any dispute arising
out of, or relating to, the Agreement shall be by arbitration in Multnomah
County, Oregon 

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in accordance with the
provisions of the Arbitration Services of Portland, Inc. The prevailing
party will be entitled to recover from the other party an amount determined
reasonable as attorney fees.

11.                                 Notices. Any notice to be given under the terms of this Agreement shall
be addressed to the Company in care of its President or Secretary at its office
in Portland, Oregon, and any notice to be given to the Participant shall be
addressed to the Participant at the address given on the first page of
this Agreement, or at such other address as either party may hereafter
designate in writing to the other. Any such notice shall have been duly given
when enclosed in a properly sealed envelope addressed as aforesaid, registered
or certified, and deposited (postage and registry or certification fee prepaid)
in a post office branch regularly maintained by the Government of the
jurisdiction in which the notice is mailed.

12.                                 Further Instruments. The parties agree to execute such
further instruments and to take such further action as may be reasonably
necessary to carry out the purposes and intent of this Agreement.

13.                                 Headings. The captions and headings of this Agreement are included for
ease of reference only and will be disregarded in interpreting or construing
this Agreement. All references
herein to Sections will refer to Sections of this Agreement.

14.                                 Agreement Subject to Plan. The Award and this Agreement are subject to all the provisions of the Plan, the
provisions of which are hereby made a part of this Agreement, and are further
subject to all interpretations, amendments, rules and regulations which
may from time to time be promulgated and adopted pursuant to the Plan. In the
event of any conflict between the provisions of this Agreement and those of the
Plan, the provisions of the Plan shall control. Participant, by
execution hereof, acknowledges receipt of the Plan and any interpretations, amendments, rules and
regulations adopted pursuant to the Plan as they currently exist and
acceptance of the terms and conditions of the Plan, such interpretations, amendments, rules and
regulations and of this Agreement.

15.                                 Section 409A Compliance. The Award
is intended to comply with the provisions of Section 409A of the Internal
Revenue Code (the “Code”) and will be administered in a manner consistent with
this intent, and, subject to any restrictions imposed by applicable law and any
rules of any stock exchange or market on which the Company’s securities
are listed, the Committee and the Board of Directors of the Company will have
the right to amend this Agreement and the Award to comply with Section 409A
of the Code (which amendment may be retroactive to the extent permitted by Section 409A
of the Code and may be made by the Committee and the Board of Directors of the
Company without the consent of the Participant).

IN WITNESS WHEREOF, the Company has caused this
Agreement to be executed in duplicate by its duly authorized representative and
Participant has executed this Agreement in duplicate, as of the Execution Date.

	
  BIOJECT MEDICAL TECHNOLOGIES INC.

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
  Christine M.
  Farrell

  	
   

  	
   

  
	
  VP
  Administration and Corp. Controller

  	
   

  	
   

  
	
  PARTICIPANT

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  DIRECTOR

  	
   

  	
   

  
	
  SS#

  	
   

  	
   

  
					

 

 5Exhibit 10.1

June 23, 2006

Mr. Chris Beecroft

8400 Sentinae Chase Drive

Roswell, GA  30076

Dear Chris: 

Optio
Software, Inc. (the “Company”) considers the establishment and maintenance
of a sound and vital management to be essential to protecting and enhancing the
best interests of the Company and its shareholders. In this regard, the Company
recognizes that, as is the case with many publicly held corporations, the
possibility of a change in control may exist and that such possibility, and the
uncertainty and questions which it may raise among management, may result in
the departure or distraction of management personnel to the detriment of the
Company and its shareholders. Accordingly, the Company’s Board of Directors has
determined that appropriate steps should be taken to reinforce and encourage
the continued attention and dedication of members of the Company’s management,
including yourself, to their assigned duties without distraction in the face of
the potentially disturbing circumstances arising from the possibility of a
change in control of the Company. 

In
order to induce you to remain in the employ of the Company, this letter
agreement sets forth the severance benefits which the Company agrees will be
provided to you in the event your employment with the Company is terminated in
connection with a “Change of Control” (as defined in paragraph 2 hereof) under
the circumstances described below. 

1. TERM . This Agreement shall commence on
the date hereof and shall continue for so long as you remain as an employee/officer
of the Company. In the event of a Change of Control your rights thereafter
under this Agreement shall become permanent, are not terminable, and cannot be
affected by any corporate action without your consent, except as is provided
for in paragraph 3 of this Agreement with respect to death or normal
retirement, termination by the Company for cause, or your disability. 

2. CHANGE IN CONTROL . No benefits shall
be payable hereunder unless there shall have been a Change of Control and your
employment by the Company shall have been terminated in accordance with
paragraph 3 below. For purposes of this Agreement, a “Change of Control” shall
be deemed to have occurred upon the occurrence of one of the following events: 

(i) the
acquisition, directly or indirectly after the date of this Agreement, in one
series of related transactions, of 45% or more of the Company’s common stock by
any “person” as that term is defined in Section 13(d)(3) of the
Securities Exchange Act of 1934, as amended excluding any acquisitions in
capital raising transactions; 

(ii) the
consummation of a merger, consolidation, share exchange or similar transaction
of the Company with any other corporation, entity or group, as a result of
which the holders of the voting capital stock of the Company as a group would
receive less than 45% of the voting capital stock of the surviving or resulting
corporation, or 

(iii) the
consummation of an agreement providing for the sale or transfer (other than as
security for obligations of the Company) of substantially all the assets of the
Company; provided that none of the transactions described in subsections (i), (ii) or
(iii) shall include a transaction or series of transactions with an entity
which is controlled, directly or indirectly, after the transaction, by the
Company or another entity in which the shareholders of the Company immediately
prior to such transaction control, directly or indirectly, at least 45% of the
outstanding voting securities (including any entity which as a result of such
transaction owns the Company or all or substantially all of the Company’s
assets either directly or through one or more subsidiaries). 

 

3. TERMINATION FOLLOWING CHANGE IN CONTROL .
If any of the events described in paragraph 2 hereof constituting a Change of
Control shall occur, you shall be entitled to the benefits provided in
paragraph 4 hereof upon the termination of your employment, immediately before
or within twelve (12) months following the Change of Control. Notwithstanding
the foregoing to the contrary, immediately upon a Change of Control, the
Company and your individual performance targets for the Annual Bonus Incentive
Plan shall be deemed to be met in full for the remainder plan year in which the
Change of Control occurs. Payment of such bonus shall be made to you on the
earlier of (i) your termination pursuant to this paragraph 3, or (ii) in
accordance with the payment schedule set forth in the bonus plan. In the
event your employment with the Company is terminated for any reason and subsequently
a Change of Control shall have occurred, you shall not be entitled to any
benefits nor have any rights hereunder . 

(i) Disability; Retirement. 

(A) If,
as a result of your incapacity due to physical or mental illness, you have been
absent from your duties with the Company on a full-time basis for 180
consecutive days and such period of absence commenced prior to a Change in
Control of the Company, the Company may give you at least thirty (30) days
prior written notice of termination of this Agreement and if you shall not have
returned to the full-time performance of your duties by the date of termination
specified in such notice, the Company may terminate this Agreement for “Disability.”

(B) Termination
by the Company or by you of your employment based on “Retirement” shall mean
termination in accordance with the Company’s retirement policy, including early
retirement, generally applicable to its salaried employees or in accordance
with any retirement arrangement established with your consent with respect to
you. 

(ii) Cause . The Company may terminate your
employment for cause. For the purposes of this Agreement, the Company shall
have “Cause” to terminate your employment hereunder upon (A) your material
breach of this agreement, provided that, if such breach is curable, you shall
be entitled to written notice and a thirty (30) day opportunity to cure such
breach; (B) any act or omission by you which is, or is likely to be,
materially injurious to the Company or the business reputation of the Company; (C) your
dishonesty, fraud, malfeasance, gross negligence or misconduct in the
performance of your duties or otherwise having an adverse affect on the
Company; (D) your continued failure to satisfactorily perform your duties,
to follow the direction (consistent with your duties) of the individual to whom
you report, or to follow the policies, procedures, and rules of the
Company, after notice and a thirty (30) day opportunity to cure; (E) your
arrest, indictment for, or conviction of, or your entry of a plea of guilty or
no contest to, a felony or crime involving moral turpitude; or (F) your
resignation for other than Good Reason. 

(iii) Good Reason . You may terminate your
employment for Good Reason. For purposes of this Agreement “Good Reason” shall
mean the occurrence after a Change of Control, without your written consent,
(except as provided in paragraph 3 with respect to certain events occurring
prior to a Change of Control) of any of the following circumstances: 

(A) the
Company takes any action which is inconsistent with, or results in the
reduction of, your then current title, duties or responsibilities immediately
prior to a Change of Control; 

(B) the
Company reduces your then current base salary; 

(C) the
Company’s requiring you to relocate more than seventy-five (75) miles from the
location of the offices at which you are principally employed immediately prior
to the date of a Change of Control; 

(D) the
Company reduces the benefits to which you are entitled at the time of a Change
of Control, unless a similar reduction is made for other executive employees;
or 

(E) the
failure of the Company to obtain the assumption of the agreement to perform
this Agreement by any successor as contemplated in paragraph 5 hereof. 

 

Good
Reason shall not include any isolated, insubstantial or inadvertent action that
(i) is not taken in bad faith, and (ii) is remedied by the Company
within thirty (30) days of receiving notice by you of such action. 

4. COMPENSATION UPON TERMINATION OR DURING DISABILITY
FOLLOWING A CHANGE OF CONTROL; OPTIONS 

(a) If
your employment is terminated in connection with a Change of Control, then the
following provisions shall apply: 

(i) During
any period that you fail to perform your duties hereunder as a result of
Disability, you shall continue to receive your full base salary at the rate
then in effect and any other compensation then payable to you until this
Agreement is terminated pursuant to paragraph 3(i) hereof. Thereafter, you
benefits shall be determined in accordance with the Company’s disability plan
then in effect. 

(ii) If
your employment shall be terminated for Cause, the Company shall pay you your
full base salary through the date of your termination at the rate in effect at
such time, plus all other amounts to which you are entitled under any
compensation or benefit plan of the Company at the time such payments are due,
and the Company shall have no further obligation to you under this Agreement. 

(iii) If
the Company shall terminate your employment other than pursuant to paragraph 3(i) or
3(ii) hereof or if you shall terminate your employment for Good Reason
pursuant to paragraph 3(iii) hereof, then the Company shall: 

(A) pay
to you a separation payment equal to six (6) months of your base salary in
effect as of the date of your termination, payable in accordance with the
Company’s normal payroll practices (or at the election of the Company, payable
as a lump sum payment); 

(B) pay
to you any earned but unpaid cash bonus amount as described in paragraph 3
above; and 

(C) maintain
in full force and effect for the continued benefit of you and your dependants
until the earlier of six (6) months following the date of your
termination, the equivalent of all life, disability, accident, health insurance
and other employee benefit plans, programs, benefits or arrangements in which
you were entitled to participate immediately prior to the date of termination
provided that your continued participation is possible under the general terms
and provisions of such plans and programs. In the event that your participation
in any such plan or program is barred, the Company shall arrange to provide you
with benefits substantially similar to those which you were entitled to receive
under such plans and programs immediately prior to your termination, provided
that any reduction of benefits which constituted a basis for your termination
of employment for Good Reason pursuant to subparagraph 3(ii) shall not be
taken into account for purposes of determining your continued benefits under
this subparagraph 4(iii). Notwithstanding the foregoing, the Company shall not
provide a benefit otherwise receivable by you pursuant to this paragraph (iii) during
any period in which an equivalent benefit is actually provided to you following
your termination, and you must report to the Company any such benefit actually
received by you. 

(iv) Except
as provided in subparagraph 4(iii)(C), you shall not be required to mitigate
the amount of any payment provided for in this paragraph 4 by seeking other
employment or otherwise, nor shall the amount of any payment provided for in
this paragraph 4 be reduced by any compensation earned by you as the result of
employment by another employer after the date of your termination, or
otherwise. 

(b) Upon
a Change in Control, all unvested options held by you shall vest in full
immediately upon and in conjunction with the consummation of the transaction
involving the Change in Control. 

5 . RESTRICTIVE COVENANTS . You acknowledge that the restrictions contained in this Section 5
are reasonable and necessary to protect the legitimate business interests of
the Company, and will not impair or infringe upon your right to work or earn a
living after your employment with the Company ends. 

 

A.
Trade Secrets and Confidential Information. You represent and warrant that: (i) you
are not subject to any agreement that would prevent you from performing your
duties for the Company or otherwise complying with this Agreement, and (ii) you
are not subject to or in breach of any non-disclosure agreement, including any
agreement concerning trade secrets or confidential information owned by any
other party. 

You
agree that you will not: (i) use, disclose, or reverse engineer the Trade
Secrets or the Confidential Information, except as authorized by the Company; (ii) during
your employment with the Company, use, disclose, or reverse engineer (a) any
confidential information or trade secrets of any former employer or third
party, or (b) any works of authorship developed in whole or in part by you
during any former employment or for any other party, unless authorized in
writing by the former employer or third party; or (iii) upon your
resignation or termination (a) retain Trade Secrets or Confidential
Information, including any copies existing in any form (including electronic
form), which are in your possession or control, or (b) destroy, delete, or
alter the Trade Secrets or Confidential Information without the Company’s
consent. 

The
obligations under this Section 5A shall: (i) with regard to the Trade
Secrets, remain in effect as long as the information constitutes a trade secret
under applicable law, and (ii) with regard to the Confidential
Information, remain in effect during the Restricted Period. 

B.
Non-Solicitation of Customers. During the Restricted Period, you will not
solicit any Customer of the Company for the purpose of providing any goods or
services competitive with the Business. The restrictions set forth in this Section 5B
apply only to the Customers with whom you had Contact. 

C.
Non-Recruit of Employees. During the Restricted Period, you will not, directly
or indirectly, solicit, recruit or induce any Employee to (a) terminate
his or her employment relationship with the Company or (b) work for any
other person or entity engaged in the Business. 

D. Work
Product. Your employment duties may include inventing in areas directly or
indirectly related to the business of the Company or to a line of business that
the Company may reasonably be interested in pursuing. All Work Product shall
constitute work made for hire. If (i) any of the Work Product may not be
considered work made for hire, or (ii) ownership of all right, title, and
interest to the legal rights in and to the Work Product will not vest
exclusively in the Company, then, without further consideration, you assign all
presently-existing Work Product to the Company, and agree to assign, and
automatically assign, all future Work Product to the Company. 

The
Company will have the right to obtain and hold in its own name copyrights,
patents, design registrations, proprietary database rights, trademarks, rights
of publicity, and any other protection available in the Work Product. At the
Company’s request, you agree to perform, during or after your employment with
the Company, any acts to transfer, perfect and defend the Company’s ownership
of the Work Product, including, but not limited to: (i) executing all
documents (including a formal assignment to the Company) necessary for filing
an application or registration for protection of the Work Product (an “Application”),
(ii) explaining the nature of the Work Product to persons designated by
the Company, (iii) reviewing Applications and other related papers, or (iv) providing
any other assistance reasonably required for the orderly prosecution of
Applications. 

You
agree to provide the Company with a written description of any Work Product in
which you are involved (solely or jointly with others) and the circumstances
surrounding the creation of such Work Product. 

E.
License. You grant to the Company an irrevocable, nonexclusive, worldwide,
royalty-free license to: (i) make, use, sell, copy, perform, display,
distribute, or otherwise utilize copies of the Licensed Materials, (ii) prepare,
use and distribute derivative works based upon the Licensed Materials, and (ii) authorize
others to do the same. You shall notify the Company in writing of any Licensed
Materials you deliver to the Company. 

F.
Release. You consent to the Company’s use of your image, likeness, voice, or
other characteristics in the Company’s products or services. You release the
Company from any claims which you have or may have for 

 

right
of publicity, copyright infringement, or any other causes of action arising out
of the use, distribution, adaptation, reproduction, broadcast, or exhibition of
such characteristics. 

G.
Post-Employment Disclosure. During the Restricted Period, you will disclose
that you have covenants (and the nature of those covenants) to persons and/or
entities to whom you provide goods and services. If, during the Restricted
Period, you provide services to another person or entity which provides goods
or services competitive with the goods or services provided by the Company you
shall provide the Company with such person or entity’s name, your job title,
and a description of the services you will provide. 

H.
Injunctive Relief. You agree that if you breach paragraph 5 of this Agreement: (i) the
Company would suffer irreparable harm; (ii) it would be difficult to
determine damages, and money damages alone would be an inadequate remedy for
the injuries suffered by the Company, and (iii) if the Company seeks
injunctive relief to enforce this Agreement, you will waive and will not (a) assert
any defense that the Company has an adequate remedy at law with respect to the
breach, or (b) require that the Company submit proof of the economic value
of any Trade Secret or Confidential Information. Nothing contained in this
Agreement shall limit the Company’s right to any other remedies at law or in
equity. 

6. SEVERABILITY .
The provisions of this Agreement are severable. If any provision is determined
to be invalid, illegal, or unenforceable, in whole or in part, the remaining
provisions and any partially enforceable provisions shall remain in full force
and effect. 

7. ATTORNEYS’ FEES . In the event of
litigation relating to this Agreement, the prevailing party shall be entitled
to recover attorneys’ fees and costs of litigation in addition to all other
remedies available at law or in equity. 

8. SURVIVAL; SUCCESSORS AND ASSIGNS . This Agreement shall be assignable to, and shall inure to
the benefit of, the Company’s successors and assigns, including, without
limitation, successors through merger, name change, consolidation, or sale of a
majority of the Company’s stock or assets, and shall be binding upon you. A
Change of Control shall not affect the terms of this Agreement. As used in this
Agreement, “Company” shall mean the Company as hereinbefore defined and any
successor to its business and/or assets as aforesaid or otherwise. You shall
not have the right to assign your rights or obligations under this Agreement.
The covenants contained in paragraph 5 of this Agreement shall survive
cessation of your employment with the Company, regardless of the reason for
cessation of your employment and regardless of who causes the cessation. 

9 . NOTICE . For the purposes of this
Agreement, notices and all other communications provided for in the Agreement
shall be in writing and shall be deemed to have been duly given when delivered
or mailed by United States registered mail, return receipt requested, postage
prepaid, addressed to the respective addresses set forth on the first page of
this Agreement, provided that all notices to the Company shall be directed to
the attention of the Chief Executive Officer of the Company with a copy to the
Secretary of the Company, or to such other address as either party may have
furnished to the other in writing in accordance herewith, except that notices
of change of address shall be effective only upon receipt. 

10 . MISCELLANEOUS . No provisions of this
Agreement may be modified, waived or discharged unless such waiver,
modification or discharge is agreed to in writing signed by you and such
officer as may be specifically designated by the Board of Directors of the
Company. No waiver by either party hereto at any time of any breach by the
other party hereto of, or compliance with, any condition or provision of this
Agreement to be performed by such other party shall be deemed a waiver of
similar or dissimilar provisions or conditions at the same or at any time prior
to subsequent time. No agreements or representations, oral or otherwise,
express or implied, with respect to the subject matter hereof have been made by
either party which are not set forth expressly in this Agreement. The validity,
interpretation, construction and performance of this Agreement shall be
governed by the laws of the State of Georgia. Any payments provided for
hereunder shall be paid net of any applicable withholding required under
foreign, federal, state or local law. The obligations of the Company under
paragraphs 4 and 5 shall survive the expiration of the term of this Agreement,
with respect to paragraph 4, to the extent benefits become due and owing under
such provisions and, with respect to paragraph 5, to the extent the Company
continues to have obligations under this Agreement. 

 

11 . ENTIRE AGREEMENT . This Agreement sets
forth the entire agreement of the parties hereto with respect to severance
benefits payable to you after a Change of Control, and during the terms of the
Agreement supersedes the provisions of all prior agreements, promises,
covenants, arrangements, communications, representations or warranties, whether
oral or written, by any officer, employee or representative of any party hereto
with respect to such subject matter. 

12. EMPLOYMENT .
This Agreement shall not be deemed to be an employment agreement for a specific
term and nothing herein shall change your status as an “employee at will”;
except in connection with a “Change in Control” and then only as set forth
herein. 

13. DEFINITIONS . 

A. “Business”
shall mean the business of (i) developing and providing software that
enables a business to integrate and present information to its customers,
suppliers, partners, and employees through various types of media (including,
but not limited to, print, Internet, e-mail and fax) by customizing, delivering
and exchanging information over a computer network (the “Software”), and (ii) providing
the implementation, training, and consulting services that support the
Software. 

B. “Confidential
Information” means information of the Company, to the extent not considered a
Trade Secret under applicable law, that (i) relates to the business of the
Company, (ii) possesses an element of value to the Company, (iii) is
not generally known to the Company’s competitors, and (iv) would damage
the Company if disclosed. Confidential Information includes, but is not limited
to, (i) future business plans, (ii) the composition, description,
schematic or design of products, future products or equipment of the Company, (iii) communication
systems, audio systems, system designs and related documentation, (iv) advertising
or marketing plans, (v) information regarding independent contractors,
employees, clients and customers of the Company, and (vi) information
concerning the Company’s financial structure and methods and procedures of
operation. Confidential Information shall not include any information that (i) is
or becomes generally available to the public other than as a result of an
unauthorized disclosure, (ii) has been independently developed and
disclosed by others without violating this Agreement or the legal rights of any
party, or (iii) otherwise enters the public domain through lawful means. 

C. “Contact”
means any interaction between you and a Customer which (i) takes place in
an effort to establish, maintain, and/or further a business relationship on
behalf of the Company and (ii) occurs during the last year of your
employment with the Company (or during your employment if employed less than a
year). 

D. “Customer”
means any person or entity to whom the Company has sold its products or
services, or solicited to sell its products or services. 

E. “Employee”
means any person who (i) is employed by the Company at the time your
employment with the Company ends, (ii) was employed by the Company during
the last year of your employment with the Company (or during your employment if
employed less than a year), or (iii) is employed by the Company during the
Restricted Period. 

F. “Licensed
Materials” means any materials that you utilize for the benefit of the Company,
or deliver to the Company or the Company’s customers, which (i) do not
constitute Work Product, (ii) are created by you or of which you are otherwise
in lawful possession, and (iii) you may lawfully utilize for the benefit
of, or distribute to, the Company or the Company’s customers. 

G. “Restricted
Period” means the time period during your employment with the Company, and for
one year after your employment with the Company ends. 

H. “Trade
Secrets” means information of the Company, and its licensors, suppliers,
clients and customers, without regard to form, including, but not limited to,
technical or nontechnical data, a formula, a pattern, a compilation, a program,
a device, a method, a technique, a drawing, a process, financial data,
financial plans, product plans, or a list 

 

of
actual or potential customers or suppliers which is not commonly known by or
available to the public and which information (i) derives economic value,
actual or potential, from not being generally known to, and not being readily
ascertainable by proper means by, other persons who can obtain economic value
from its disclosure or use, and (ii) is the subject of efforts that are
reasonable under the circumstances to maintain its secrecy. 

I. “Work
Product” means (a) any data, databases, materials, documentation, computer
programs, inventions (whether or not patentable), designs, and/or works of
authorship, including but not limited to, discoveries, ideas, concepts,
properties, formulas, compositions, methods, programs, procedures, systems,
techniques, products, improvements, innovations, writings, pictures, audio,
video, images of you, and artistic works, and (b) any subject matter
protected under patent, copyright, proprietary database, trademark, trade
secret, rights of publicity, confidential information, or other property
rights, including all worldwide rights therein, that is or was conceived,
created or developed in whole or in part by you while employed by the Company
and that either (i) is created within the scope of your employment, (ii) is
based on, results from, or is suggested by any work performed within the scope
of your employment and is directly or indirectly related to the business of the
Company or a line of business that the Company may reasonably be interested in
pursuing, (iii) has been or will be paid for by the Company, or (iv) was
created or improved in whole or in part by using the Company’s time, resources,
data, facilities, or equipment. 

  

[signature
confirmed on next page] 

 

 

If this
letter correctly sets forth our agreement on the subject matter hereof, kindly
sign and return to the Company the enclosed copy of this letter which will then
constitute our agreement on this matter. 

 

	
  

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  OPTIO SOFTWARE, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. Wayne Cape

  
	
   

  	
   

  	
  C. Wayne Cape

  
	
   

  	
   

  	
  President and Chief Executive Officer

  

 

 

	
  Agreed to this
  23rd day of June, 2006.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Chris Beecroft

  	
   

  
	
  Employee

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