Document:

Exhibit 10

Exhibit 10.1  

MICROS SYSTEMS, INC.

EXECUTIVE RETIREMENT PLAN  

ARTICLE 1 
PURPOSE  

MICROS Systems, Inc. (hereafter
called “the Corporation”) recognizes the contributions to its growth and success
made by certain key employees and desires to retain the services of such individuals and
to assure the Corporation of the continued benefit of their services. Accordingly, the
Corporation hereby establishes the MICROS Systems, Inc. Executive Retirement Plan (the
“Plan”) to provide retirement benefits to these employees as described herein in
order to reward and retain such individuals. 

ARTICLE 2 

DEFINITIONS AND CERTAIN PROVISIONS  

        Administrator.
“Administrator” shall mean the Board of Directors or, to the extent designated
by the Board, the Committee.  

        Annual
Benefit. “Annual Benefit” means ten equal annual payments, each
of which shall be equal to the product of the Participant’s (i) Final Base
Compensation multiplied by (ii) the applicable Benefit Percentage. The first payment
of the Annual Benefit shall be made on the date specified in Section 5.1 or 5.2, as
applicable, and the last payment will be made on the ninth anniversary of such date.  

        Beneficiary.
“Beneficiary” means the person or persons designated as such in accordance with
Article 6.  

        Benefit
Percentage. “Benefit Percentage” means (i) 18% if the Participant’s
employment with the Corporation terminates prior to the date the Participant attains age
63; (ii) 21% if the Participant’s employment with the Corporation terminates on
or after the date the Participant attains age 63 but prior to the date the Participant
attains age 64; (iii) 24% if the Participant’s employment with the Corporation
terminates on or after the date the Participant attains age 64 but prior to the date the
Participant attains age 65; or (iv) 30% if the Participant’s employment with
the Corporation terminates on or after the date the Participant attains age 65.  

        Board
of Directors or Board. “Board of Directors” or “Board” means
the Board of Directors of the Corporation.  

        Change
in Control. “Change in Control” means: (i) the acquisition
(other than from the Corporation) by any Person, as defined herein, of the beneficial
ownership (within the meaning of Rule 13d-3 promulgated under the Securities Exchange Act
of 1934, as amended) of 50% or more of (A) the then-outstanding shares of capital stock
of the Corporation (the “Common Stock”), or (B) the combined voting power of
the then-outstanding securities of the Corporation entitled to vote generally in the
election of directors (the “Corporation Voting Stock”); or (ii) the effective
time of any merger, share exchange, consolidation, or other business combination
involving the Corporation if immediately after such transaction persons who hold 50% of
the outstanding voting securities entitled to vote generally in the election of directors
of the surviving entity (or the entity owning 100% of such surviving entity) are not
persons who, immediately prior to such transaction, held Common Stock. For purposes of
this definition, a “Person” means any individual, entity or group within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as
amended, other than any employee benefit plan sponsored or maintained by the Corporation
and by entities controlled by the Corporation or an underwriter of the Common Stock in a
registered public offering.  

        Code.
          “Code” shall mean the Internal Revenue Code of 1986, as amended.  

        Committee.
          “Committee” means the CompensationCommittee of the Boardof
Directors.  

        Corporation.
          “Corporation” means MICROS Systems, Inc., and any successor
          corporation.  

        Date
of Employment. “Date of Employment” means, for purposes of determining
Years of Service, the date upon which the Participant commenced employment with the
Corporation.  

        Effective
Date. “Effective Date” means August 25, 2004.  

        Final
Base Compensation. “Final Base Compensation” means the annual base
salary, not including annual bonuses, stock option income or other remuneration, the
Participant earned over the twelve-month period during which the Participant worked
full-time and excluding any periods of leave or other absences, immediately preceding the
Participant’s termination of employment with the Corporation. Final Base
Compensation shall be determined without regard to any elective reduction thereof
resulting from the Participant’s participation in any of the Corporation’s
employee benefit plans.  

        Participant.              “Participant” means
an employee of the Corporation designated on Schedule A hereto.  

        
Plan. “Plan” means
this MICROS Systems, Inc. Executive Retirement Plan, as           set forth herein.  

        Vested
Benefit. “Vested Benefit” means the nonforfeitable Annual
Benefit provided under the Plan to a Participant who has satisfied the requirements in
Section 4.2 of the Plan.  

	 	
	 

        Years
of Service. “Years of Service” means the total number of
completed twelve-month periods duringwhich the Participant was in the continuous
employ of the Corporation beginning from the Participant’sDate of Employment.  

ARTICLE 3 

ADMINISTRATION OF THE PLAN  

	3.1  	Duties
and Powers of the Administrator. The Administrator shall be responsible for the control,
management, operation and administration of the Plan and the proper execution of its
provisions. It shall also be responsible for the construction of the Plan and the
determination of all questions arising hereunder. In furtherance of the foregoing, the
Administrator shall have the sole power, responsibility and discretion (i) to
establish, interpret, enforce, amend, and revoke from time to time such rules and
regulations for the administration of the Plan and the conduct of its business as it
deems appropriate, (ii) to determine the entitlement of Participants and their
Beneficiaries to benefits under the Plan, and (iii) to decide any disputes that may arise
relative to the rights of the Participants and their Beneficiaries with respect to such
benefits. Any action which the Administrator is required or authorized to take shall be
final and binding upon each and every person who is or may become interested in the Plan.
Notwithstanding anything in the Plan to the contrary, on and after the occurrence of a
Change in Control, the Administrator shall not have any discretion in the administration
of the Plan, and notwithstanding anything in the Plan to the contrary, any court or
tribunal that adjudicates any dispute, controversy or claim in connection with benefits
under the Plan will apply a denovo standard of review to any determinations made by the
Administrator in the administration of the Plan.  

	3.2  	Expenses.
The expenses of administering the Plan shall be paid by the Corporation.  

	3.3  	Claims
Administration. In the event that benefits under the Plan are not paid to the
Participant, or to his Beneficiary, and such individual feels he is entitled to receive
such benefits, then such individual shall make a written claim to the Administrator. The
Administrator shall review the written claim within a reasonable time after it is
submitted, and if the claim is denied, in whole or in part, the Administrator shall
provide written notice of such denial within 90 days of receipt of such claim. Such
written notice of denial shall be written in a manner calculated to be understood by the
claimant and shall include the following:  

	   	
(i)  	the
specific reason or reasons for the denial;  

	   	
(ii)  	specific
reference to pertinent Plan provisions on which the denial is based;  

	   	
(iii)  	a
description of any additional material or information necessary for the
          claimant to perfect the claim and an explanation of why such material or
          information is necessary; and  

	   	
(iv)  	a
description of the Plan’s claim review procedures and the time limits
          applicable to such procedures, including a statement of the claimant’s
          right to bring a civil action following an adverse determination on review.  

	  	
Within
60 days after receipt by the claimant of written notice of the denial, the claimant may
appeal such denial by filing a written application for review with the Administrator.
Such written application shall state the grounds upon which the claimant seeks to have
the claim reviewed, and may include written comments, documents, records and other
information relating to the claim for benefits. The claimant shall be provided, upon
request and free of charge, reasonable access to, and copies of, all documents, records,
and other information relevant to the claimant’s claim for benefits. The
Administrator shall then review the decision, taking into account all comments,
documents, records and other information submitted by the claimant relating to the claim,
without regard to whether such information was submitted or considered in the initial
benefit determination, and shall notify the claimant in writing of the results of the
redetermination within 60 days of receipt of the application for review. Such written
notification shall be written in a manner calculated to be understood by the claimant,
and shall include the following:  

	   	
(i)  	the
specific reason or reasons for the adverse determination;  

	   	
(ii)  	specific
reference to pertinent Plan provisions on which the adverse           determination is
based;  

	   	
(iii)  	a
statement that the claimant is entitle to receive, upon request and free of
          charge, reasonable access to, and copies of, all documents, records, and other
          information relevant to the claimant’s claim for benefits; and  

	   	
(iv)  	a
statement of the claimant’s right to bring a civil action regarding the
          adverse benefit determination.  

	3.4  	Legal
Fees. In the event any Participant or Beneficiary in good faith initiates any dispute,
controversy or claim for benefits under the Plan after the occurrence of a Change in
Control or after the Participant becomes age 62, provided he or she has no fewer than
eight Years of Service, the Corporation shall pay to the Participant or Beneficiary all
reasonable legal fees and expenses incurred by the Participant or  

	 	
	 

	  	
Beneficiary
in connection with such good faith dispute, controversy or claim. Such payments shall be
made within five business days after delivery of the Participant’s or Beneficiary’s
written requests for payment accompanied with such evidence of the reasonable fees and
expenses incurred as the Corporation may reasonably require.  

ARTICLE 4 

PARTICIPATION AND VESTING  

	4.1  	Participation.
Participation in the Plan shall be limited to those employees of the Corporation
specified on Schedule A attached hereto.  

	4.2  	Vesting.
A Participant shall not be eligible to receive any benefit under the Plan unless and
until the Participant has no fewer than eight Years of Service and either (i) the
Participant has attained age 62, or (ii) there is a Change in Control. If a
Participant terminates employment with the Corporation prior to satisfaction of the
conditions specified in this Section 4.2, such Participant shall not be entitled to
receive any benefits under this Plan.  

ARTICLE 5 
BENEFITS  

	5.1  	Payments
of Vested Benefit. The Corporation shall pay to a Participant his Vested Benefit (if any)
commencing upon the later of (i) the first business day of the month next following
the month in which the Participant’s employment with the Corporation terminates, (ii) the
first business day of the month next following the month in which the Participant attains
age 62, or (iii) with respect to any Participant who is a “key employee” (as
defined in section 416(i) of the Code without regard to paragraph (5) thereof), to the
extent required by Code section 409A, the first business day which is six months after
such Participant’s separation from service with the Corporation (as determined in
accordance with Code section 409A).  

	5.2  	Survivor
Benefits. If a Participant dies prior to commencement of the payment of his Vested
Benefit (if any) under the Plan, the Corporation will pay to the Participant’s
Beneficiary the Participant’s Vested Benefit (if any) beginning on the first
business day of the month next following the month in which the Participant dies. If a
Participant dies after the commencement of the Participant’s Vested Benefit under
the Plan, then any remaining annual payments of the Participant’s Vested Benefit
that, but for such death, would have been paid to the Participant shall be paid to the
Participant’s Beneficiary.  

	5.3  	Withholding:
Unemployment Taxes. To the extent required by the law in effect at the time payments are
made, the Corporation shall withhold from payments made hereunder any taxes
required to be withheld by the federal or any state or local government.  

ARTICLE 6 

 BENEFICIARY DESIGNATION  

	6.1  	Designation
of Beneficiary. Each Participant shall have the right, at any time, to designate any person
or persons as Beneficiary or Beneficiaries to whom payment under the Plan shall be made in
the event of Participant’s death prior to complete distribution to Participant of
the benefits due under the Plan. Each Beneficiary designation shall become effective
only when filed in writing with the Corporation during the Participant’s lifetime on a
form prescribed by the Corporation.  

	6.2  	Amendment
of Beneficiary Designation. The filing of a new Beneficiary designation form will cancel
all Beneficiary designations previously filed. Any finalized divorce or marriage (other
than a common law marriage) of Participant subsequent to the date of filing of a
Beneficiary designation form shall revoke such designation, unless in the case of
divorce, the previous spouse was not designated as Beneficiary, and, unless in the case
of marriage, the Participant’s new spouse had previously been designated as
Beneficiary. The spouse of a married Participant domiciled in a community property
jurisdiction shall join in any designation of Beneficiary or Beneficiaries other than the
spouse.  

	6.3  	Failure
to Designate a Beneficiary. If a deceased Participant failed to designate a Beneficiary as
provided herein, or if his Beneficiary designation is revoked by marriage, divorce, or
otherwise without execution of a new designation, or if all designated Beneficiaries
predecease the Participant or die prior to complete distribution of the Participant’s
Vested Benefit, then the remaining amounts (if any) of the Participant’s Vested
Benefit shall be paid to the Participant’s estate.  

	 	
	 

ARTICLE 7  
AMENDMENT
AND TERMINATION OF PLAN  

	  	
The
Board of Directors, in its sole discretion, may at any time amend the Plan in whole or in
part or in any respect, or may at any time terminate the Plan, provided, however that no
amendment or termination shall eliminate or decrease any Vested Benefit theretofore
accrued and vested by any Participant prior to such amendment or termination.  

ARTICLE 8 

 MISCELLANEOUS  

	8.1  	Unsecured
General Creditor. Participants and their Beneficiaries, heirs, successors, and assigns
shall have no legal or equitable rights, interest, or claims in any specific property or
assets of the Corporation, nor shall they be beneficiaries of, or have any rights,
claims, or interests in any insurance policies, annuity contracts, or the proceeds
therefrom owned or which may be acquired by the Corporation. Such insurance policies or
other assets of the Corporation shall not be held under any trust for the exclusive
benefit of Participants, their Beneficiaries, heirs, successors, or assigns, or held in
any way as collateral security solely for the fulfilling of the obligations of the
Corporation under the Plan. Any and all of the Corporation’s assets and insurance
policies shall be, and remain, subject to the general unsecured creditors of the
Corporation. The Corporation’s obligation under the Plan shall be merely that of an
unfunded and unsecured promise of the Corporation to pay money in the future.  

	8.2  	Nonassiqnability.
Neither a Participant nor any other person shall have any right to commute, sell, assign,
transfer, pledge, anticipate, mortgage or otherwise encumber, hypothecate or convey in
advance of actual receipt the amounts, if any, payable hereunder, or any part thereof, or
interest therein which are, and all rights to which are, expressly declared to be
unassignable and non-transferable. No part of the amount payable shall, prior to actual
payment, be subject to seizure or sequestration for the payment of any debts, judgments,
alimony, or separate maintenance owed by a Participant or any other person, nor be
transferable by operation of law in the event of a Participant’s or any other person’s
bankruptcy or insolvency.  

	8.3  	Employment
Not Guaranteed. Nothing contained in the Plan nor any action taken hereunder shall be
construed as a contract for services with any Participant or a legal right to continued
employment of any Participant as an employee of the Corporation, nor shall the adoption
and continuation of the Plan or designation of any employee of the Corporation as a
Participant interfere with the rights of the Corporation to discharge any Participant and
to otherwise treat him without regard to the effect which such discharge might have upon
him as a Participant.  

	8.4  	Gender
Singular and Plural. All pronouns and any variations thereof shall be deemed to refer to
the masculine, feminine, or neuter as the identity of the person or persons may
require. As the context may require, the singular may be read as the plural and
the plural as the singular.  

	8.5  	Captions.
The captions of the Articles and Sections of the Plan are for convenience only and shall
not control or affect the meaning or construction of any of its provisions.  

	8.6  	Validity.
In the event any provision of the Plan is held invalid or void or unenforceable, the same
shall not affect, in any respect whatsoever, the validity of any other provision of the
Plan.  

	8.7  	Notice.
Any notice or filing required or permitted to be given to the Corporation or the
Administrator under the Plan shall be sufficient if in writing and hand delivered, or
sent by registered or certified mail to the principal office of the Corporation, directed
to the attention of the Secretary of the Corporation. Such notice shall be deemed given
as of the date of delivery or, if delivery is made by mail as of the date shown on the
postmark on the receipt for registration or certification.  

	8.8  	Applicable
Law. To the extent not preempted by Federal law, this Plan shall be governed and construed
in accordance with the laws of the State of Maryland other than the conflicts provisions
thereof.  

	8.9  	Compliance
with Code Section 409A. Notwithstanding anything in this Plan to the contrary, the Plan
is intended to meet requirements of Code section 409A, and any provision of the Plan
which is inconsistent with Code section 409A shall be disregarded and shall not create
any right in any Participant or Beneficiary.  

        IN
WITNESS WHEREOF, this Plan has been executed this 19th day of November, 2004,
to be effective as of the Effective Date.  

	   	 	/s/ John G.
      Puente 
      
Chairman, Compensation Committeeexv10w1

 

EXHIBIT 10.1

     SUNOCO LOGISTICS PARTNERS L.P. ANNOUNCES NEW REVOLVING CREDIT AGREEMENT

     PHILADELPHIA, November 22, 2004 – Sunoco Logistics Partners L.P. (NYSE:
SXL) announced today that it has entered into a new five-year, $250 million
Revolving Credit Agreement. It replaces a $250 million Revolving Credit
Agreement which was to mature January 31, 2005.

     “We appreciate the strong support from our relationship banks in
recognizing Sunoco Logistics’ financial strength and capacity to execute our
strategic plans,” said Colin A. Oerton, Vice President and Chief Financial
Officer.

     Citigroup Global Markets Inc. and Barclays Capital served as Joint Lead
Arrangers and Bookrunners. Citibank, N.A is the Administrative Agent and
Barclays Bank PLC is the Syndication Agent. The Co-Documentation Agents are
Keybank N.A., Sun Trust Bank and Wachovia Bank, N.A.

     Sunoco Logistics Partners L.P. (NYSE: SXL), headquartered in Philadelphia,
was formed to acquire, own and operate substantially all of Sunoco, Inc.’s
refined product and crude oil pipelines and terminal facilities. The Eastern
Pipeline System consists of approximately 1,900 miles of primarily refined
product pipelines and interests in four refined products pipelines, consisting
of a 9.4 percent interest in Explorer Pipeline Company, a 31.5 percent interest
in Wolverine Pipe Line Company, a 12.3 percent interest in West Shore Pipe Line
Company and a 14.0 percent interest in the Yellowstone Pipe Line Company. The
Terminal Facilities consist of 8.8 million barrels of refined product terminal
capacity and 16.0 million barrels of crude oil terminal capacity (including
12.5 million barrels of capacity at the Texas Gulf Coast Nederland Terminal).
The Western Pipeline System consists of approximately 2,700 miles of crude oil
pipelines, located principally in Oklahoma and Texas and a 43.8 percent
interest in the West Texas Gulf Pipe Line Company. For additional information
visit Sunoco Logistics’ web site at www.sunocologistics.com.

     NOTE: Those statements made in this release that are not historical facts
are forward-looking statements. Although Sunoco Logistics Partners L.P. (the
“Partnership”) believes that the assumptions underlying these statements are
reasonable, investors are cautioned that such forward-looking statements are
inherently uncertain and necessarily involve risks that may affect the
Partnership’s business prospects and performance causing actual results to
differ from those discussed in the foregoing release. Such risks and
uncertainties include, by way of example and not of limitation: whether or not
the transaction described in the foregoing news release will be consummated;
whether or not such transaction will be cash flow accretive; increased
competition; changes in demand for crude oil and refined products that we store
and distribute; changes in operating conditions and costs; changes in the level
of environmental remediation spending; potential equipment malfunction;
potential labor relations problems; the legislative or regulatory
environmental; plant construction/repair delays; nonperformance by major
customers or suppliers; and political and economic conditions,

 

 

including the impact of potential terrorist acts and international hostilities.
These and other applicable risks and uncertainties have been described more
fully in the Partnership’s September 30, 2004 Form 10-Q filed with the
Securities and Exchange Commission on November 5, 2004. The Partnership
undertakes no obligation to update any forward-looking statements in this
release, whether as a result of new information or future events.

- END -

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