Document:

Unassociated Document

    EMPLOYMENT
AGREEMENT

     

    EMPLOYMENT
AGREEMENT dated as of March 18, 2005 by and between IntraLinks, Inc., a Delaware
corporation with its principal place of business at 1372 Broadway, New York, NY
10018 (hereinafter referred to as “IntraLinks”), and Anthony Plesner, residing
at 400 East 59th Street, #3F, New York, NY 10022 (hereinafter referred to as
“Executive”).

     

    WHEREAS,
IntraLinks desires to employ Executive as Chief Financial and Administrative
Officer (the “CFO”), subject to the terms and conditions of this agreement (the
“Agreement”).

     

    NOW,
THEREFORE, in consideration of the promises and covenants herein, the parties
agree as follows:

     

    1.           Employment

     

    Executive’s
employment by IntraLinks shall commence on April 1, 2005. Executive will be an
employee at will, which means that either the Executive or IntraLinks may
terminate the employment relationship at any time, with or without “Cause”, as
defined below, or notice, subject to the provisions of Sections 4 and 5 of this
Agreement.

     

    2.           Duties

     

    2.1           Executive
shall, during the term of his employment with IntraLinks, perform the duties of
CFO and shall perform such other duties as shall be specified and designated
from time to time by the Chief Executive Officer (the “CEO”) or his successor or
designee. Executive shall devote his full business time and effort to the
performance of his duties hereunder. Such duties shall include, without
limitation, those listed on Attachment A hereto. Executive shall report to the
CEO or such other senior officer of IntraLinks (without resulting in substantial
diminution of Executive’s duties) as the CEO or the Board of Directors shall
designate from time to time.

     

    2.2           Executive’s
employment hereunder shall be subject to the rules and regulations of IntraLinks
involving the general conduct of business of IntraLinks in force from time to
time and applicable to senior executives of IntraLinks.

     

    3.           Compensation

     

    3.1           Salary. IntraLinks
shall pay Executive an annualized salary of $240,000.00 (the “Annual Salary”),
in accordance with the customary payroll practices of IntraLinks applicable to
senior executives. Executive’s Annual Salary shall be reviewed annually in
accordance with IntraLinks’ policy and may be adjusted in the sole discretion of
IntraLinks.

     

    3.2           Bonus.  Executive
shall be eligible to receive an annual bonus pursuant to the terms and
conditions of any bonus plan in effect from time to time for executive
management (excluding the CEO); provided, however, that, unless such bonus plan
provides otherwise, Executive shall be eligible to receive an “At Plan Bonus” of
up to 30% of the amount of Annual Salary actually paid or accrued during each
calendar year (the “Target Bonus Amount”), the exact amount of which bonus each
year will be determined based on the following factors: IntraLinks financial
goals (50%), personal “Critical Success Factors” established not more often than
quarterly (30%), and leadership/management effectiveness (20%), each as
determined by IntraLinks in consultation with Executive; such factors with
respect to fiscal year 2005 will be defined with reasonable specificity within
60 days after commencement of Executive’s employment. Except as expressly set
forth in Sections 5.3 and 5.4 hereof, Executive shall be eligible to receive any
such bonus only if Executive is actively employed by IntraLinks on the date such
bonuses, if any, are paid and Executive has not given notice of resignation or
been given notice of termination by IntraLinks for “Cause”, as defined in this
Agreement, on or prior to that date.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3.3           Stock Options.
Executive shall be granted 1,400,000 Incentive Stock Options (the “Options”) at
a strike price of $0.12 per share pursuant to the terms and conditions of the
IntraLinks, Inc. 2004 Stock Option Plan and a Stock Option Agreement being
executed contemporaneously herewith.

     

    3.4           Benefits. Executive
shall be eligible to participate in IntraLinks’ employee benefits plans, subject
to the terms and conditions of the applicable plan documents, and subject to
IntraLinks’ right to amend, terminate, increase costs and/or take other similar
action with respect to any or all of its benefit plans, as with all other plans
and programs of IntraLinks.

     

    3.5           Expenses. IntraLinks
shall pay or reimburse Executive for all reasonable out-of-pocket expenses
actually incurred by Executive in the performance of Executive’s services under
this Agreement, in accordance with IntraLinks’ expense reimbursement policies in
effect from time to time (including timely submission of proof of such expenses
(including, in the case of reimbursements, proof of payment) in such form as
IntraLinks may require).

     

    3.6           Vacation. IntraLinks
shall provide Executive, while employed by IntraLinks, vacation of four (4)
weeks per year, subject to IntraLinks’ standard policy regarding accrual of
vacation time. Executive shall be entitled to sick and personal days in
accordance with IntraLinks policy.

     

    3.7           Delivery of
Compensation. In the event of Executive’s death, any accrued but unpaid
payments by IntraLinks hereunder shall be made to the executors or
administrators of Executive’s estate against the delivery of such tax waivers,
proper letters testamentary and other documents as IntraLinks may reasonably
request.

     

    4.           Termination upon Death or
Disability

     

    This
Agreement shall terminate upon Executive’s death. If Executive becomes disabled,
IntraLinks may terminate Executive’s employment by written notice to Executive.
For purposes hereof, “disability” shall be
defined to mean Executive’s inability, due to physical or mental incapacity, to
substantially perform his duties and responsibilities under this Agreement for a
period of forty-five (45) days from the date of such disability as determined by
an approved medical doctor selected by the mutual agreement of the parties
hereto. In the event that the parties hereto cannot agree on an approved medical
doctor, each party shall select a medical doctor and the two doctors shall
select a third medical doctor who shall serve as the approved medical doctor
hereunder. Upon death or termination of employment by virtue of disability,
Executive (or Executive’s estate or beneficiaries in the case of the death of
Executive) shall have no right to receive any compensation or benefit hereunder
on and after the effective date of the termination of employment other than (i)
Annual Salary earned and accrued under this Agreement prior to the effective
date of termination; (ii) earned, accrued and vested benefits and vacation,
subject to the terms of the plans applicable thereto; and (iii) reimbursement
under this Agreement for expenses incurred prior to the effective date of
termination. This Agreement shall otherwise terminate upon the effective date of
the termination of employment and Executive shall have no further rights
hereunder.

     

    
      
        
        

      

      
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    5.           Other Terminations of
Employment

     

    5.1           Termination for
Cause. If Executive (i) is convicted of or enters a plea of guilty or
nolo contendere to a felony, a crime of moral turpitude, dishonesty, breach of
trust or unethical business conduct, or any crime involving the business of
IntraLinks; (ii) in the performance of his duties hereunder or otherwise to the
detriment of IntraLinks, engages in (A) misconduct, (B) willful or gross
neglect, (C) fraud, (D) misappropriation, (E) embezzlement or (F) theft; (iii)
disobeys the lawful directions of the CEO or Board of Directors; (iv) fails to
comply with the reasonable policies and practices of IntraLinks; (v) fails to
devote substantially all of his business time and effort to IntraLinks; or (vi)
is adjudicated in any civil suit, or acknowledges in writing in any agreement or
stipulation, to the commission of any theft, embezzlement, fraud, or other
intentional act of dishonesty involving any other person, IntraLinks may
terminate Executive’s employment hereunder. Notwithstanding any other provision
of this Agreement, if IntraLinks terminates Executive’s employment in accordance
with the terms of this Section 5.1 for Cause, Executive shall have no right to
receive any compensation or benefit hereunder on and after the effective date of
the termination of employment other than (x) Annual Salary earned and accrued
under this Agreement prior to the effective date of termination; (y) earned,
accrued and vested benefits and vacation under this Agreement prior to the
effective date of termination, subject to the terms of the plans applicable
thereto; and (z) reimbursement under this Agreement for expenses incurred prior
to the effective date of termination. This Agreement shall otherwise terminate
upon the effective date of the termination of employment and Executive shall
have no further rights hereunder.

     

    5.2           Termination by
Executive. Except as set forth in Section 5.4, notwithstanding any other
provision of this Agreement, if Executive terminates his employment under this
Section 5.2, Executive shall have no right to receive any compensation or
benefit hereunder on and after the effective date of the termination of
employment other than (i) Annual Salary earned and accrued under this Agreement
prior to the effective date of termination; (ii) earned, accrued and vested
benefits and vacation under this Agreement prior to the effective date of
termination, subject to the terms of the plans applicable thereto; and (iii)
reimbursement under this Agreement for expenses incurred prior to the effective
date of termination. This Agreement shall otherwise terminate upon the effective
date of the termination of employment and Executive shall have no further rights
hereunder. Executive shall endeavor to provide 60 days’ prior written notice to
IntraLinks if he terminates his employment under this Section 5.2.

     

    
      
        
        

      

      
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    5.3           Termination Without
Cause. IntraLinks may terminate Executive’s employment at any time for
any reason. If Executive’s employment with IntraLinks is terminated pursuant to
this Section 5.3, Executive shall have no right to receive any compensation or
benefit hereunder on and after the effective date of the termination of
employment other than:

     

    (a)           Annual
Salary earned and accrued under this Agreement prior to the effective date of
termination;

     

    (b)           (i)
if Executive has been actively employed by IntraLinks for at least six (6)
months, but less than twelve (12) months, prior to the date of
termination—

     

    (A)           an
additional three (3) months of Annual Salary at the rate in effect at
termination payable on or about the fifteenth business day following Executive’s
execution of the release agreement; and

     

    (B)           payment
of the premiums for Executive’s group health insurance coverage pursuant to
COBRA, if eligible and elected, for a period of three (3) months, or until such
sooner date that Executive accepts employment with another employer;
or

     

    (ii)           if
Executive has been actively employed by IntraLinks for at least twelve (12)
months prior to the date of termination—

     

    (A)           an
additional six (6) months of Annual Salary at the rate in effect at termination
payable on our about the fifteenth business day following Executive’s execution
of the release agreement; and

     

    (B)           payment
of the premiums for Executive’s group health insurance coverage pursuant to
COBRA, if eligible and elected, for a period of six (6) months, or until such
sooner date that Executive accepts employment with another
employer;

     

    provided
that after expiration of the relevant COBRA payment period above, IntraLinks
will allow Executive to continue such coverage at his own expense for the
remainder of any COBRA continuation period pursuant to applicable law and
Executive shall notify IntraLinks immediately upon acceptance of employment with
another employer;

     

    (c)           a
pro rata portion of the Target Bonus Amount calculated according to the
following table:

     

    
      	
              Period
      in which date of termination occurs

            	
              Percentage
      of Target Bonus Amount payable

               

            
	
              January
      1 – March 31

               

            	
              None

            
	
              April
      1 – June 30

               

            	
              25%

            
	
              July
      1 – September 30

               

            	
              50%

            
	
              October
      1 – December 31

               

            	
              75%

            

    

    

    
      
        
        

      

      
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    For
purposes of this subsection 5.3(c) only, the amount of Annual Salary used to
calculate the Target Bonus Amount shall equal the actual amount of Annual Salary
paid or accrued during the calendar year in which termination occurs, plus the
total amount of Annual Salary that would have been paid during any portion of
such calendar year remaining after the date of Employee’s termination, based on
the amount of Executive’s Annual Salary at the time of his
termination;

     

    (d)           an
additional three (3) months of Options vesting beyond that which would have
vested at the time of termination of employment;

     

    (e)           earned,
accrued and vested benefits and vacation under this Agreement prior to the
effective date of termination, subject to the terms of the plans applicable
thereto; and

     

    (f)           reimbursement
under this Agreement for expenses incurred prior to the effective date of
termination.

     

    No
payment or other consideration under this Section 5.3 shall be paid or given
unless Executive executes and does not revoke a release agreement required by
IntraLinks at the time of Executive’s termination.

     

    This
Agreement shall otherwise terminate upon the effective date of the termination
of employment and Executive shall have no further rights hereunder.

     

    5.4           Termination Due to a
Change-of-Control. If Executive’s employment with IntraLinks is
terminated due to a “Change-of-Control,” as defined below, and without Cause,
Executive shall have no right to receive any compensation or benefit hereunder
on and after the effective date of the termination of employment other than: (i)
Annual Salary earned and accrued under this Agreement prior to the effective
date of termination; (ii) provided that Executive executes and does not revoke a
release agreement required by IntraLinks at that time, nine (9) months of Annual
Salary at the rate in effect at termination payable on or about the fifteenth
business day following Executive’s execution of the release agreement; (iii)
payment of the premiums for Executive’s group health insurance coverage pursuant
to COBRA, if eligible and elected, for a period ending upon the earlier of (A)
the end of the period in which Executive is receiving the periodic installments
pursuant to subsection (ii) above or (B) the date upon which Executive accepts
employment with another employer, provided that Executive executes and does not
revoke a release agreement required by IntraLinks at such time. After that date,
IntraLinks will allow Executive to continue such coverage at his own expense for
the remainder of any COBRA continuation period pursuant to applicable law.
Executive agrees to notify IntraLinks immediately upon acceptance of employment
with another employer; (iv) a pro rata portion of the Target Bonus Amount with
respect to the calendar year in which termination occurs, based on the actual
number of days of such year elapsed through the date of termination, and where,
for purposes of this clause (iv) only, the amount of Annual Salary used to
calculate the Target Bonus Amount equals the actual amount of Annual Salary paid
or accrued during the calendar year in which termination occurs, plus the total
amount of Annual Salary that would have been paid during any portion of such
calendar year remaining after the date of Employee’s termination, based on the
amount of Executive’s Annual Salary at the time of his termination; (v) earned,
accrued and vested benefits and vacation under this Agreement prior to the
effective date of termination, subject to the terms of the plans applicable
thereto; and (vi) reimbursement under this Agreement for expenses incurred prior
to the effective date of termination. This Agreement shall otherwise terminate
upon the effective date of the termination of employment and Executive shall
have no further rights hereunder. For purposes of this Section 5.4, Change
of-Control means: (A) a sale of all or substantially all of IntraLinks’ assets;
or (B) any merger, consolidation or other business combination transaction of
IntraLinks with or into another corporation, entity or person, other than a
transaction in which the holders of at least a majority of the shares of voting
capital stock of IntraLinks outstanding immediately prior to such transaction
continue to hold (either by such shares remaining outstanding or by their being
converted into shares of voting capital stock of the surviving entity) a
majority of the total voting power represented by the shares of voting capital
stock of IntraLinks (or the surviving entity) outstanding immediately after such
transaction; or (C) the direct or indirect acquisition (including by way of a
tender or exchange offer) by any person, or persons acting as a group, of
beneficial ownership or a right to acquire beneficial ownership of shares
representing a majority of the voting power of the then outstanding shares of
capital stock of IntraLinks. For purposes of this Section 5.4, termination “due
to a Change-of-Control” shall include a termination resulting from the
resignation of Executive by reason of a material diminution of duties following
a Change-of-Control that materially impairs Executive’s ability to perform the
duties normally assigned to a person of his title and position at a corporation
of the size and nature of the Company.

     

    
      
        
        

      

      
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    6.           Covenants of
Executive.

     

    6.1           Non-Competition;
Non-Solicitation. As a material inducement to IntraLinks to grant the
Options pursuant to Section 3.3 hereof and to enter into this Agreement,
Executive hereby expressly agrees to be bound by the following covenants, terms
and conditions. Executive hereby agrees that he has had and/or will have access
to trade secrets, proprietary and confidential information relating to
IntraLinks and its affiliates and their respective clients, including but not
limited to, marketing data, financial information, client and prospect lists
(including without limitation, Rolodex type or computer- and Web-based
compilations (including but not limited to salesforce.com or other CRM system
data) maintained by IntraLinks or its affiliates or Executive), and details of
programs and methods, potential and actual acquisitions, divestitures and joint
ventures, pricing policies, strategies, terms of service, business and product
plans, cost information and software, in each case of IntraLinks, its affiliates
and/or their respective clients. Accordingly, as a condition of and in
consideration of Executive’s employment with IntraLinks and IntraLinks’
agreement to provide Executive with the Options set forth in this Agreement,
Executive voluntarily enters into the following covenants to provide IntraLinks
with reasonable protection of those interests:

     

    (a)           Executive
agrees that during the term of his employment with IntraLinks and for a period
of one (1) year thereafter, Executive shall not, alone or as an employee,
officer, director, agent, shareholder (other than an owner of 1% or less of the
outstanding shares of any publicly-traded company), consultant, partner, member,
owner or in any other capacity, directly or indirectly:

     

    
      
        
        

      

      
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    (i)           engage
in any Competitive Activity, as defined below, within or with respect to any
location in the United States or abroad in which Executive performed or directed
his services (including but not limited to sales and customer support calls,
whether conducted in person, by telephone or online) at any time during the
twelve month period immediately preceding the termination of Executive’s
employment for any reason (the “Territories”), or assist any other person or
organization in engaging in, or preparing to engage in, any Competitive Activity
in such Territories;

     

    (ii)           solicit
or provide services to any Clients, as defined below, of IntraLinks and/or any
of its affiliates, on his own behalf or on behalf of any third party, in
furtherance of any Competitive Activity. For purposes of this Section 6,
“Client” shall mean any current or former customer of IntraLinks or user of
IntraLinks’ services or software with respect to whom, for any reason, at any
time during the term of Executive’s employment with IntraLinks: (A) Executive
performed services (including but not limited to sales and customer support
calls, whether conducted in person, by telephone or online) on behalf of
IntraLinks and/or any affiliate; (B) Executive had substantial contact; or (C)
Executive acquired or had access to trade secrets or other confidential or
proprietary information relating to such customer as a result of Executive’s
employment with IntraLinks;

     

    (iii)           encourage,
participate in or solicit any employee or consultant of IntraLinks and/or any
affiliate to engage in Competitive Activity or to accept employment with any
third party engaged in Competitive Activity. This subsection 6 (iii) shall be
limited to employees and consultants who: (A) are current employees or
consultants; or (B) left the employment of IntraLinks or whose provision of
services to IntraLinks terminated within the twelve (12) month period prior to
Executive’s termination of employment with IntraLinks for any reason;
and

     

    (iv)           for
purposes of this Agreement, “Competitive Activity” shall mean:

     

    (A)           any
business in competition with IntraLinks organized or operating under any of the
following names: Merrill Corporation; Customized Database Systems (CDS)/Fidelity
Information Services, Inc.; Dealogic Holdings plc; DealBench/Bankruptcy
Management Corporation/Bowne & Co., Inc.; RR Donnelley; IndigoPool.com;
Imprima de Bussy; and/or

     

    (B)           any
offering, sale, licensing or provision by any entity of any software,
application service or system, in direct competition with IntraLinks’ offerings
and including electronic or digital document repositories for facilitating
transactional due diligence, mergers, acquisitions, divestitures, financings,
investments, investor relations, research and development, clinical trials or
other business processes for which IntraLinks’ products or services are or have
been used during the twelve (12) month period preceding termination of
Executive’s employment for any reason.

     

    (b)           Executive
agrees that the foregoing restrictions are reasonable and justified in light of:
(i) the nature of IntraLinks’ business and customers; (ii) the confidential and
proprietary information to which Executive has had and will have exposure and
access during the course of his employment with IntraLinks; and (iii) the need
for the adequate protection of the business and the goodwill of IntraLinks. In
the event any restriction in this Section 6 is deemed to be invalid or
unenforceable by any court of competent jurisdiction, Executive agrees to the
reduction of said restriction to such period or scope that such court deems
reasonable and enforceable.

     

    
      
        
        

      

      
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    (c)           Executive
acknowledges and agrees that any breach of this Section 6 shall cause IntraLinks
immediate, substantial and irreparable harm and therefore, in the event of any
such breach, Executive agrees that he or she shall immediately forfeit all
Options granted hereunder, vested and unvested, that have not previously been
exercised, and in addition to any other remedies which may be available,
IntraLinks shall have the right to seek specific performance and injunctive
relief, without the need to post a bond or other security.

     

    (d)           Executive
acknowledges and agrees that the provisions of this Section 6 are in addition
to, and not in lieu of, any non-solicitation, non-competition, confidentiality,
nonraid and/or similar obligations which Executive may have with respect to
IntraLinks and/or its affiliates, whether by agreement, fiduciary obligation or
otherwise, and that the grant and exercisability of the Option contemplated by
this Agreement are expressly made contingent on Executive’s compliance with the
provisions of this Section 6. Without in any way limiting the provisions of this
Section 6, Executive further acknowledges and agrees that the provisions of this
Section 6 shall remain applicable in accordance with their terms after the date
of termination of Executive’s employment, regardless of whether: (i) Executive’s
termination or cessation of employment is voluntary or involuntary; (ii)
Executive has exercised any Options in whole or in part; or (iii) any Options
have not or will not vest.

     

    6.2           Confidential and Proprietary
Information. During and after the term of Executive’s employment with
IntraLinks, Executive covenants and agrees that he will not disclose to anyone
without IntraLinks’ prior written consent, any confidential materials,
documents, records or other non-public information of any type whatsoever
concerning or relating to the business and affairs of IntraLinks which Executive
may have acquired in the course of his employment hereunder, including but not
limited to: (i) trade secrets of IntraLinks; (ii) lists of and/or information
concerning current, former, and/or prospective customers or clients of
IntraLinks; (iii) information relating to methods of doing business (including
information concerning operations, technology and systems) in use or
contemplated use by IntraLinks and not generally known among IntraLinks’
competitors, except to the extent such disclosure is required by law, regulation
or legal process.

     

    6.3           Rights and Remedies upon
Breach. Executive acknowledges and agrees that his breach of any
provision of this Section 6 (the “Restrictive Covenants”) would result in
irreparable injury and damage for which money damages do not provide an adequate
remedy. Therefore, if Executive breaches or threatens to commit a breach of any
Restrictive Covenant, IntraLinks shall have the following rights and remedies
(in accordance with applicable law and upon compliance with any necessary
prerequisites imposed by law upon the availability of such remedies), each of
which rights an remedies shall be independent of the other and severally
enforceable, and all of which right and remedies shall be in addition to, and
not in lieu of, any other rights and remedies available to IntraLinks under law
or in equity (including, without limitation, the recovery of
damages):

     

    
      
        
        

      

      
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    (a)           To
have the Restrictive Covenants specifically enforced (without posting bond and
without the need to prove damages) by any court having jurisdiction, including,
without limitation, the right to seek an entry against Executive of restraining
orders and injunctions (preliminary, mandatory, temporary and permanent) against
violations, threatened or actual, and whether or not then continuing, of such
covenants;

     

    (b)           To
require Executive to forfeit his right to receive the balance of any
compensation due him which is not yet earned and accrued or vested under this
Agreement (whether it be in the form of Annual Salary, expenses or vacation);
and

     

    (c)           To
require Executive to account for and pay over to IntraLinks all compensation,
profits, monies, accruals, increments or other benefits (collectively,
“Profits”) derived or received by him as the result of any transactions
constituting a breach of the Restrictive Covenants, and Executive shall account
for and pay over the Profits to IntraLinks.

     

    6.4           Definition of
IntraLinks. For this Section 6, “IntraLinks” shall include all of
IntraLinks’ parents, subsidiaries, and affiliates and their respective
successors and assigns, and “affiliate” shall mean any entity that, directly of
indirectly, through one or more intermediaries, controls or is controlled by or
is under common control with IntraLinks. As used in this Section 6.3, “control”
shall mean the possession, directly or indirectly, of the powers to direct or
cause the direction of the management and policies of such entity, whether
though the ownership of voting securities, by contract or
otherwise.

     

    7.           Other
Provisions

     

    7.1           Severability.
Executive acknowledges and agrees that (i) she has had an opportunity to seek
advice of counsel in connection with this Agreement; and (ii) the Restrictive
Covenants are reasonable in geographical and temporal scope and in all other
respects. If it is determined by a court of competent jurisdiction that any
provision of this Agreement, including, without limitation, any Restrictive
Covenant, or any part thereof, is invalid or unenforceable, the remainder of the
Agreement shall not thereby be affected and shall be given full effect, without
regard to the invalid provisions. The parties hereto will substitute for the
invalid or unenforceable provision a new, mutually acceptable, valid and
enforceable provision of like economic effect.

     

    7.2           Blue Penciling. If
any court determines that any covenant in this Agreement, including, without
limitation, any Restrictive Covenant or any part thereof, is unenforceable
because of the duration or geographical scope of such provision, the duration or
scope of such provision, as the case may be, shall be reduced so that such
provision becomes enforceable and, in its reduced form, such provision shall
then be enforceable and shall be enforced.

     

    7.3           Executive
shall be entitled to indemnification in accordance with IntraLinks policy and
applicable state law.

     

    
      
        
        

      

      
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    7.4           Notices. Any notice
or other communication required or permitted hereunder shall be in writing and
shall be delivered in person, by facsimile or by certified or registered mail,
postage prepaid. Any such notice given by certified or registered mail shall be
deemed given five days after the date of deposit in the United States mails as
follows:

     

    
      	
               
      

            	
              (i)

            	
              If
      to IntraLinks or any of its

            

    

    
      	
               
      

            	
              parents or affiliates,
      to:

            

    

     

    IntraLinks,
Inc.

    1372
Broadway

    New York,
NY 10018

    Attention:
General Counsel

     

    
      	
               
      

            	
              (ii)

            	
              If to Executive,
      to:

            

    

     

    Anthony
Plesner

    400 East
59th Street, #3F

    New York,
NY 10022

     

    Any such
person may by notice given in accordance with this Section to the other party
designate another address or person for receipt by such person of notices
hereunder.

     

    7.5           Entire Agreement.
This Agreement contains the entire agreement between the parties and supersedes
and cancels all prior and contemporaneous agreements, written and oral, if
any.

     

    7.6           Waivers and
Amendments. This Agreement may be amended, superseded or canceled, and
the terms hereof may be waived, only by a written instrument singed by the
parties or, in the case of a waiver, by the party waiving compliance. No delay
by any party in exercising any right, power or privilege hereunder shall operate
as a waiver thereof, nor shall any waiver on the part of any party of any such
right, power or privilege nor any single or partial exercise as any such right,
power or privilege, preclude any other or further exercise thereof or the
exercise of any other such right, power or privilege.

     

    7.7           GOVERNING LAW. THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW.

     

    7.8           Assignment. This
Agreement, and Executive’s rights and obligations hereunder, may not be assigned
by Executive without the prior written consent of IntraLinks; any purported
assignment by Executive in violation hereof shall be null and void. In the event
of any sale, transfer or other disposition of all or substantially all of
IntraLinks’ assets or business, whether by merger, consolidation or otherwise,
IntraLinks may assign this Agreement and its rights hereunder.

     

    7.9           Withholding.
IntraLinks shall be entitled to withhold from any payments or deemed payments
any amount of withholding required by applicable law.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    7.10           Binding Effect. This
Agreement shall be binding upon and inure to the benefit of the parties and
their respective successors, permitted assigns, heirs, executors and legal
representatives.

     

    7.11           Survival. Anything in
this Agreement to the contrary notwithstanding, to the extent applicable,
Section 4, Section 5, Section 6, and Section 7 shall survive the termination of
this Agreement for any reason.

     

    7.12           Headings. The
headings in this Agreement are for reference only and shall not affect the
interpretation of this Agreement.

     

    7.13           Counterparts. This
Agreement may be executed by the parties hereto in separate counterparts, each
of which when so executed and delivered shall be an original but all such
counterparts together shall constitute one and the same instrument. Each
counterpart may consist of two copies hereof each signed by one of the parties
hereto.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    IN
WITNESS WHEREOF, the parties hereto have signed their names as of the day and
year first above written.

     

    
      
        
          	EXECUTIVE:	 	INTRALINKS
      INC.	 
	 	 	 	 	 
	
                  /s/
      Anthony Plesner

                	 	
                  BY:
      

                	/s/
      Patrick Wack	 
	Anthony
      Plesner	 	Name	Patrick
      Wack	 
	Date:	 	Title 	CEO	 
	 	 	Date	3/24/05	 

        

      

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

    

    Attachment
A

    

    Employee
shall:

    

    
      	
               
      

            	
              •

            	
              Oversee
      and manage all finance, accounting and related
  functions

            

    

     

    
      	
               
      

            	
              •

            	
              Assist
      the Chief Executive Officer in connection with acquisition and financing
      strategy and execution

            

    

     

    
      	
               
      

            	
              •

            	
              Assist
      the Chief Executive Officer in connection with business, strategic and
      financial planning

            

    

     

    
      	
               
      

            	
              •

            	
              Oversee
      legal, human resources and/or other functions as the Chief Executive
      Officer may determine from time to
time

            

    

     

    
      	
               
      

            	
              •

            	
              Manage
      assessment and establishment of financial and other internal controls and
      processes for potential public registration and
  listing

            

    

     

     

    
      
        
        

      

      
        13Unassociated Document

     

    EXHIBIT 10.13

    
INTRALINKS,
INC.

    SENIOR EXECUTIVE SEVERANCE
PLAN

     

    1.           Purpose.  IntraLinks,
Inc. (the “Company”) considers it essential to the best interests of its
stockholders to promote and preserve the continuous employment of key management
personnel.  The Board of Directors of the Company (the “Board”)
recognizes, however, that the possibility of a Sale Event (as defined in
Section 2 hereof) exists and that such possibility, and the uncertainty and
questions that it may raise among management, may result in the departure or
distraction of key management personnel to the detriment of the Company and its
stockholders.  Therefore, the Board has determined that this
IntraLinks, Inc. Senior Executive Severance Plan (the “Plan”) should be adopted
to reinforce and encourage the continued attention and dedication of certain key
members of management who are selected from time to time by the Board, in its
sole discretion, to participate in the Plan (each, a “Covered Executive,” and
collectively, the “Covered Executives”), to their assigned duties without
distraction in the face of potentially disturbing circumstances arising from the
possibility of a Sale Event.  Nothing in this Plan shall be construed
as creating an express or implied contract of employment and, except as
otherwise agreed in writing between the Covered Executive and the Company or any
of its subsidiaries (“Subsidiaries”), the Covered Executive shall not have any
right to be retained in the employ of the Company or any of its
Subsidiaries.

     

    2.           Sale
Event.  For purposes of this Plan, a “Sale Event” shall mean
and include any of the following events: (a) consummation of a merger or
consolidation of the Company with or into any other corporation or other entity
in which holders of the Company’s voting securities immediately prior to such
merger or consolidation will not, directly or indirectly, continue to hold at
least a majority of the outstanding voting securities of the Company; (b) a
sale, lease, exchange or other transfer (in one transaction or a related series
of transactions) of all or substantially all of the Company’s and its
Subsidiaries’ assets on a consolidated basis to an unrelated person or entity;
or (c) the sale, exchange or transfer by the Company’s stockholders of voting
control, in a single transaction or series of related transactions, other than
as a result of (i) an acquisition of securities directly from the Company or
(ii) an acquisition of securities by the Company which by reducing the voting
securities outstanding increases the proportionate voting power represented by
the voting securities owned by any such person or group of persons to 50 percent
or more of the combined voting power of such voting securities.

     

    3.           Terminating
Event.  A “Terminating Event” shall mean the termination of
employment of a Covered Executive in connection with any of the events provided
in this Section 3 (a) or (b) below, occurring, in each case, within 12
months following a Sale Event:

     

    (a)           Termination by the
Company.  Termination by the Company of a Covered Executive’s
employment for any reason other than for (i) Cause (as defined below) or (ii)
the death or disability (as determined under the Company’s or any applicable
Subsidiary’s then existing long-term disability coverage) of such Covered
Executive.

     

    “Cause”
means, in the absence of any employment or similar agreement between a Covered
Executive and the Company or any Subsidiary otherwise defining Cause, dismissal
by the Company of the Covered Executive as a result of (i) the commission of any
act by the Covered Executive constituting financial dishonesty against the
Company or any Subsidiary (which act would be chargeable as a crime under
applicable law); (ii) the Covered Executive’s engaging in any other act of
fraud, intentional misrepresentation, moral turpitude, illegality or harassment;
(iii) unauthorized use or disclosure by a Covered Executive of any proprietary
information or trade secrets of the Company or any other party to whom the
Covered Executive owes an obligation of nondisclosure as a result of his or her
relationship with the Company; (iv) the repeated failure by the Covered
Executive to follow the directives of the chief executive officer or president
of the Company or any Subsidiary, the Board, or the board of directors or
managers of any Subsidiary; or (v) any material misconduct, violation of the
Company’s or any Subsidiary’s policies, or willful and deliberate
non-performance of duty by the Covered Executive in connection with the business
affairs of the Company or any Subsidiary.  In the event there is an
employment or similar agreement between an Covered Executive and the Company or
any Subsidiary (each such agreement, an “Employment Agreement”) otherwise
defining Cause, “Cause” shall have the meaning provided in such Employment
Agreement.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    A
Terminating Event shall not be deemed to have occurred pursuant to this
Section 3(a) solely as a result of the Covered Executive being an employee
of any direct or indirect successor to the business or assets of the Company and
its Subsidiaries, rather than continuing as an employee of the Company or its
Subsidiary following a Sale Event.

     

    (b)           Termination by the Covered
Executive for Good Reason.  Termination by a Covered Executive
of his or her employment with the Company and its Subsidiaries for Good
Reason.

     

    “Good
Reason” shall mean that the Covered Executive has complied with the “Good Reason
Process” (as defined below) following occurrence of any of the following events:
(i) a material diminution in the Covered Executive’s responsibilities, authority
or duties; (ii) a material diminution in the Covered Executive’s base salary
except for across-the-board salary reductions based on the Company’s financial
performance similarly affecting all or substantially all senior management
employees of the Company; (iii) a relocation of more than 75 miles of the office
at which the Covered Executive provides services to the Company or its
Subsidiaries; or (iv) the material breach of this Plan or a Covered Executive’s
Employment Agreement by the Company or any applicable Subsidiary.

     

    “Good
Reason Process” shall mean that (i) the Covered Executive reasonably determines
in good faith that a “Good Reason” condition has occurred; (ii) the Covered
Executive notifies the Company in writing of the first occurrence of the Good
Reason condition within 30 days of the first occurrence of such condition; (iii)
the Covered Executive cooperates in good faith with the Company’s efforts, for a
period not less than 30 days following such notice (the “Cure Period”), to
remedy the condition; (iv) notwithstanding such efforts, the Good Reason
condition continues to exist; and (v) the Covered Executive terminates his or
her employment within 30 days after the end of the Cure Period.  If
the Company cures the Good Reason condition during the Cure Period, Good Reason
shall be deemed not to have occurred.

     

    4.           Special Termination
Benefits.

     

    (a)           Except
as provided in Section 4(b), below, in the event that a Terminating Event occurs
within 12 months after a Sale Event with respect to such Covered
Executive:

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    (i)           the
Company shall pay to the Covered Executive an amount equal to the sum of (i) the
Covered Executive’s annual base salary in effect immediately prior to the
Terminating Event (or the Covered Executive’s annual base salary in effect
immediately prior to the Sale Event, if higher) and (ii) the Covered Executive’s
target bonus for the fiscal year in which the Sale Event occurred, payable in
cash, in one lump-sum payment on the Date of Termination (as defined in Section
8(b), below); and

     

    (ii)           in
the event that the Covered Executive elects, after a the Date of Termination, to
continue health, vision and/or dental coverage pursuant to the Consolidated
Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company will pay, on a
monthly basis, the Company’s portion of the Covered Executive’s monthly premium
payments for each such coverage elected by the Covered Executive for the Covered
Executive and his or her eligible dependents, if applicable, until the earliest
of the following dates to occur with respect to each such elected coverage: (i)
the twelve month anniversary of the Date of Termination; (ii) the date upon
which the Covered Executive becomes covered under a comparable group plan for
such applicable coverage; or (iii) the date upon which the Covered Executive
ceases to be eligible for COBRA continuation for such applicable
coverage.

     

    (b)           Notwithstanding
the foregoing, in the event that any Covered Executive is a party to any
Employment Agreement that would also provide for severance payments or benefits
upon a Terminating Event, then the Covered Executive shall be entitled to
receive either (x) the payments and benefits described in 4(a), above, or (y)
such severance payments and benefits described in the Covered Executive’s
Employment Agreement, which ever amount is greater in the aggregate, as
determined by the Company.  In consideration of the opportunity to
receive any payment or benefit under this Plan and as a condition of a Covered
Executive’s participation hereunder, any such Employment Agreement shall be
deemed amended (and any payments or benefits shall be deemed to be waived by the
Covered Executive) to the extent necessary to effect the provisions of this
Section 4(b).

     

    5.           Additional
Limitations.

     

    (a)           Unless
otherwise provided in an Employment Agreement, anything in this Plan to the
contrary notwithstanding, in the event that the amount of any compensation,
payment or distribution by the Company or any Subsidiary to or for the benefit
of the Covered Executive, whether paid or payable or distributed or
distributable pursuant to the terms of this Plan or otherwise, calculated in a
manner consistent with Section 280G of the Internal Revenue Code of 1986, as
amended (the “Code”) and the applicable regulations thereunder (the “Severance
Payments”), would be subject to the excise tax imposed by Section 4999 of the
Code, the following provisions shall apply:

     

    (i)           If
the Severance Payments, reduced by the sum of (A) the Excise Tax and (B) the
total of the federal, state, and local income and employment taxes payable by
the Covered Executive on the amount of the Severance Payments which are in
excess of the Threshold Amount, are greater than or equal to the Threshold
Amount, the Covered Executive shall be entitled to the full amount of Severance
Payments.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    (ii)           If
the Threshold Amount is less than (x) the Severance Payments, but greater than
(y) the Severance Payments reduced by the sum of (A) the Excise Tax and (B) the
total of the federal, state, and local income and employment taxes on the amount
of the Severance Payments which are in excess of the Threshold Amount, then the
Severance Payments shall be reduced (but not below zero) to the extent necessary
so that the sum of all Severance Payments shall not exceed the Threshold
Amount.  In such event, the Severance Payments shall be reduced in the
following order:  (1) cash payments not subject to Section 409A of the
Code; (2) cash payments subject to Section 409A of the Code; (3) equity-based
payments and acceleration; and (4) non-cash forms of benefits.  To the
extent any payment is to be made over time (e.g., in installments, etc.), then
the payments shall be reduced in reverse chronological order.

     

    (b)           For
the purposes of this Section 5, “Threshold Amount” shall mean three times the
Covered Executive’s “base amount” within the meaning of Section 280G(b)(3) of
the Code and the regulations promulgated thereunder, less one dollar; and
“Excise Tax” shall mean the excise tax imposed by Section 4999 of the Code, and
any interest or penalties incurred by the Covered Executive with respect to such
excise tax.

     

    (c)           The
determination as to which of the alternative provisions of Section 5(a) above
shall apply to the Covered Executive shall be made by a nationally recognized
accounting firm selected by the Company (the “Accounting Firm”), which shall
provide detailed supporting calculations both to the Company and the Covered
Executive within 15 business days of the Date of Termination, if applicable, or
at such earlier time as is reasonably requested by the Company or the Covered
Executive.  For purposes of determining which of the alternative
provisions of Section 5(a) above shall apply, the Covered Executive shall be
deemed to pay federal income taxes at the highest marginal rate of federal
income taxation applicable to individuals for the calendar year in which the
determination is to be made, and state and local income taxes at the highest
marginal rates of individual taxation in the state and locality of the Covered
Executive’s residence on the Date of Termination, net of the maximum reduction
in federal income taxes which could be obtained from deduction of such state and
local taxes.  Any determination by the Accounting Firm shall be
binding upon the Company and the Covered Executive.

     

    6.           Section
409A.

     

    (a)           Anything
in this Plan or in any Employment Agreement to the contrary notwithstanding, if
at the time of a Covered Executive’s “separation from service” within the
meaning of Section 409A of the Code, the Company determines that such Covered
Executive is a “specified employee” within the meaning of Section
409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that
such Covered Executive becomes entitled to under this Plan on account of the
Covered Executive’s separation from service would be considered deferred
compensation subject to the 20 percent additional tax imposed pursuant to
Section 409A(a) of the Code as a result of the application of Section
409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit
shall not be provided until the date that is the earlier of (A) six months and
one day after the Covered Executive’s separation from service, or (B) the
Covered Executive’s death.  Any such delayed cash payment shall earn
interest at an annual rate equal to the applicable federal short-term rate
published by the Internal Revenue Service for the month in which the date of
separation from service occurs, from such date of separation from service until
the payment.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    (b)           This
Plan in intended to be administered in accordance with Section 409A of the
Code.  To the extent that any provision of this Plan is ambiguous as
to its compliance with Section 409A of the Code, the provision shall be read in
such a manner so that all payments hereunder comply with Section 409A of the
Code.  This Plan may be amended, in the discretion of the Board, as
may be necessary to fully comply with Section 409A of the Code and all related
rules and regulations in order to preserve the payments and benefits provided
hereunder without additional cost to the Company or the Covered
Executives.

     

    (c)           All
in-kind benefits provided and expenses eligible for reimbursement under this
Plan shall be provided by the Company or incurred by Covered Executives during
the time periods set forth in this Plan.  All reimbursements shall be
paid as soon as administratively practicable, but in no event shall any
reimbursement be paid after the last day of the taxable year following the
taxable year in which the expense was incurred.  The amount of in-kind
benefits provided or reimbursable expenses incurred in one taxable year shall
not affect the in-kind benefits to be provided or the expenses eligible for
reimbursement in any other taxable year.  Such right to reimbursement
or in-kind benefits is not subject to liquidation or exchange for another
benefit.

     

    (d)           To
the extent that any payment or benefit described in this Plan constitutes
“non-qualified deferred compensation” under Section 409A of the Code, and to the
extent that such payment or benefit is payable upon a Covered Executive’s
termination of employment, then such payments or benefits shall be payable only
upon such Covered Executive’s “separation from service.”  The
determination of whether and when a separation from service has occurred shall
be made in accordance with the presumptions set forth in Treasury Regulation
Section 1.409A-1(h).

     

    (e)           The
Company makes no representation or warranty and shall have no liability to any
Covered Executive or to any other person if any provisions of this Plan are
determined to constitute deferred compensation subject to Section 409A of the
Code but do not satisfy an exemption from, or the conditions of, such
Section.

     

    7.           Withholding.  All
payments made by the Company under this Plan shall be net of any tax or other
amounts required to be withheld by the Company or its Subsidiaries under
applicable law.

     

    8.           Notice and Date of
Termination; Dispute Resolution; Etc.

     

    (a)           Notice of
Termination.  Within 12 months after a Sale Event, any
purported termination of a Covered Executive’s employment (other than by reason
of death) shall be communicated by written Notice of Termination from the
Company to a Covered Executive or vice versa in accordance with this
Section 8.  For purposes of this Plan, a “Notice of Termination”
shall mean a notice which shall indicate the specific termination provision in
this Plan relied upon and the Date of Termination.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    (b)           Date of
Termination.  “Date of Termination,” shall mean:  (i)
if a Covered Executive’s employment is terminated due to his or her death, the
date of his or her death; (ii) if a Covered Executive’s employment is terminated
on account of the Covered Executive’s disability or by the Company for Cause,
the date on which Notice of Termination is given; (iii) if a Covered Executive’s
employment is terminated by the Company without Cause, 30 days after the date on
which a Notice of Termination is given, provided that, if the Company specifies
another date on which the Covered Executive’s employment with the Company shall
terminate, whether in the Notice of Termination or otherwise, then the Date of
Termination shall be such other specified date; (iv) if a Covered Executive’s
employment is terminated by such Covered Executive without Good Reason, 30 days
after the date on which a Notice of Termination is given, and (v) if a Covered
Executive’s employment is terminated by such Covered Executive with Good Reason,
the date on which a Notice of Termination is given after the end of the Cure
Period.  Notwithstanding the foregoing, in the event that a Covered
Executive gives a Notice of Termination to the Company, the Company may
unilaterally accelerate the Date of Termination and such acceleration shall not
result in a termination by the Company for purposes of this Plan.

     

    (c)           No
Mitigation.  The Covered Executives are not required to seek
other employment or to attempt in any way to reduce any amounts payable to the
Covered Executive by the Company under this Plan.  Further, the amount
of any payment provided for in this Plan shall not be reduced by any
compensation earned by a Covered Executive as the result of employment by
another employer, by retirement benefits, by offset against any amount claimed
to be owed by a Covered Executive to the Company or its Subsidiaries, or
otherwise.

     

    (d)           Arbitration of
Disputes.  Any controversy or claim arising out of or relating
to this Plan or the breach thereof or otherwise arising out of a Covered
Executive’s employment or the termination of that employment (including, without
limitation, any claims of unlawful employment discrimination whether based on
age or otherwise) shall, to the fullest extent permitted by law, be settled by
arbitration before a single arbitrator in any forum and form agreed upon by the
parties or, in the absence of such an agreement, under the auspices of the
American Arbitration Association (“AAA”) in New York, New York in accordance
with the Employment Dispute Resolution Rules of the AAA, including, but not
limited to, the rules and procedures applicable to the selection of
arbitrators.  In the event that any person or entity other than a
Covered Executive, the Company or its Subsidiaries may be a party with regard to
any such controversy or claim, such controversy or claim shall be submitted to
arbitration subject to such other person or entity’s
agreement.  Judgment upon the award rendered by the arbitrator may be
entered in any court having jurisdiction thereof.  This Section 8(d)
shall be specifically enforceable. Notwithstanding the foregoing, this Section
8(d) shall not preclude the Company or its subsidiaries or a Covered Executive
from pursuing a court action for the sole purpose of obtaining a temporary
restraining order or a preliminary injunction in circumstances in which such
relief is appropriate; provided that any other relief shall be pursued through
an arbitration proceeding pursuant to this Section 8(d).

     

    9.           Term.  This
Plan shall take effect on the date it is adopted by the Board set forth below,
and shall terminate upon the later of (a) the date which is 12 months after a
Sale Event and (b) the payment in full of all payments and benefits due
hereunder to any Covered Executive.

     

    
       

      
        6

        
          

        

      

      
         

      

    

    10.           Benefits and
Burdens.  This Plan shall inure to the benefit of and be
binding upon the Company and the Covered Executives, their respective
successors, executors, administrators, heirs and permitted
assigns.  In the event of a Covered Executive’s death after a
Terminating Event but prior to the completion by the Company of all payments and
benefits due such Covered Executive under this Plan, the Company shall continue
such payments and/or benefits to the Covered Executive’s beneficiary designated
in writing to the Company prior to his or her death (or to his estate, if the
Covered Executive fails to make such designation).

     

    11.           Successor to the
Company.  The Company shall require any successor (whether
direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business or assets of the Company expressly to assume
and agree to perform this Plan to the same extent that the Company would be
required to perform it if no succession had taken place.  Failure of
the Company to obtain an assumption of this Plan at or prior to the
effectiveness of any succession shall be a material breach of this
Plan.

     

    12.           Enforceability.  If
any portion or provision of this Plan shall to any extent be declared illegal or
unenforceable by a court of competent jurisdiction, then the remainder of this
Plan, or the application of such portion or provision in circumstances other
than those as to which it is so declared illegal or unenforceable, shall not be
affected thereby, and each portion and provision of this Plan shall be valid and
enforceable to the fullest extent permitted by law.

     

    13.           Waiver.  No
waiver of any provision hereof shall be effective unless made in writing and
signed by the waiving party.  The failure by any person to require the
performance of any term or obligation of this Plan, or the waiver by any person
of any breach of this Plan, shall not prevent any subsequent enforcement of such
term or obligation or be deemed a waiver of any subsequent breach.

     

    14.           Notices.  Any
notices, requests, demands, and other communications provided for by this Plan
shall be sufficient if in writing and delivered in person or sent by registered
or certified mail, postage prepaid, to a Covered Executive at the last address
the Covered Executive has filed in writing with the Company, or to the Company
at its main office, directed to the attention of the Board of
Directors.

     

    15.           Effect on Other
Plans.  Nothing in this Plan shall be construed to limit the
rights of the Covered Executives under the Company or any Subsidiary’s benefit
plans, programs or policies.

     

    16.           Amendment or Termination of
Plan.  Except as provided in Section 6(b), the Company may
amend or terminate this Plan at any time or from time to time; provided,
however, that no such amendment shall, without the consent of the Covered
Executives, in any material adverse way affect the rights of the Covered
Executives, and no termination shall be made without the written consent of the
Covered Executives.

     

    17.           Governing
Law.  This Plan shall be construed under and be governed in all
respects by the laws of the State of New York.

     

    Effective
Date: December 2, 2009

     

    
      
         

      

      
        7

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