Document:

Exhibit 10.3

 

CRA
INTERNATIONAL, INC. RESTRICTED STOCK AGREEMENT

 

Notification
and Acceptance of Restricted Stock Award

Employee or Independent Contractor Award

 

Pursuant to the CRA International, Inc.
2006 Equity Incentive Plan (the “Plan”), the Employee or Independent Contractor
named below (hereinafter the “Holder”) has been granted           
shares (the “Restricted Shares “) of the Company’s Common Stock, without par
value (“Common Stock”), subject to the restrictions stated below and in the
Plan, on the condition that the Holder execute and deliver this Agreement.

 

In accordance with the Plan, the Company is
therefore pleased to offer you the following Restricted Stock Award:

 

	
  Grant Date:

  	
   

  	
  [                                                ]

  
	
   

  	
   

  	
   

  
	
  Holder Name, Residential Address and Social
  Security Number:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Number of shares of Common Stock granted in
  this Restricted Stock Award:

  	
   

  	
               
  shares of the Company’s Common Stock

  
	
   

  	
   

  	
   

  
	
  Vesting Period:

  	
   

  	
  Four years, with Twenty-five Percent (25%)
  of the Restricted Stock Award vesting on each anniversary of the Grant Date.

  
	
   

  	
   

  	
   

  
	
  Vesting Schedule

  	
   

  	
   

  
	
   

  	
   

  	
  Date

  	
   

  	
  % Vested

  
	
   

  	
   

  	
  [                              ]

  	
   

  	
  25%

  
	
   

  	
   

  	
  [                              ]

  	
   

  	
  50%

  
	
   

  	
   

  	
  [                              ]

  	
   

  	
  75%

  
	
   

  	
   

  	
  [                              ]

  	
   

  	
  100%

  

 

This Restricted Stock Award is subject to the terms and conditions of
the Restricted Stock Agreement set forth below (the “Agreement”). By
signing below you both accept this Restricted Stock Award and acknowledge that
you have read, understand, agree to and accept the terms and conditions of the Agreement
set forth below. As a condition to receiving this Restricted Stock Award, the
Holder shall execute a Non-Solicit / Non-Hire Agreement with the Company, dated
as of the Grant Date.

 

Signed as a Massachusetts agreement under
seal as of the Grant Date:

 

	
  CRA INTERNATIONAL, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  James C. Burrows

  	
  {Insert Holder name}

  
	
  President and CEO

  	
   

  
				

 

 

Restricted Stock Agreement

 

The terms of
this Agreement shall govern the attached Notification and Acceptance of
Restricted Stock Award (the “Award”). Capitalized terms used, but not defined, herein
shall have the meanings ascribed to them in the Award. The Company agrees to
issue to the Holder in consideration of the premises and for valuable
consideration, the receipt whereof is hereby acknowledged, subject to the terms
and conditions of the Plan and this Agreement as follows:

 

1.                                       Vesting Schedule. The interest of the Holder in the Restricted Shares shall vest as to
one-fourth of the Restricted Shares on the first anniversary of the Grant Date,
and as to an additional one-fourth on each succeeding anniversary, so as to be
100% vested on the fourth anniversary thereof, conditioned upon the Holder’s
continued employment with or performance of services for the Company as of each
vesting date. Notwithstanding the foregoing, the interest of the Holder in the Restricted
Shares shall vest as to 100% of the then unvested Restricted Shares upon the
Holder’s termination of service to the Company due to death or Disability. As
used herein, the term “Disability” shall mean any condition, arising by reason
of ill health or otherwise, on account of which the Holder shall become unable
to perform services as an employee or independent contractor of the Company
for a period of six (6) consecutive months; provided, however, that the
Holder is not competing directly or indirectly with the Company, as determined
by the Company in its discretion.

 

2.                                       Forfeiture of Restricted Shares.

 

(a)                                  The
Restricted Shares may not be sold, pledged or otherwise transferred until
the Restricted Shares become vested in accordance with Section 1. The
period of time between the Grant Date and the date Restricted Shares become
vested is referred to herein as the “Restriction Period” for each of such
shares.

 

(b)                                 If
service for the Company as an employee or independent contractor is terminated
by the Company for any reason (other than death or Disability), the balance of
the Restricted Shares which has not vested at the time of the Holder’s
termination of service shall be forfeited by the Holder and shall automatically
be returned to the Company.

 

3.                                       Escrow of Certificates.

 

(a)                                  Simultaneously
with the execution of this Agreement, the Holder shall deposit with the Company
the certificate or certificates representing all of the Restricted Shares and
shall promptly upon acquisition of any additional shares of stock, property or
securities described in Paragraphs 5 and 6 hereof, deposit with the Company the
certificate or certificates for such additional shares. Any such additional
shares shall for all purposes be deemed Restricted Shares under this Agreement.
To all certificates deposited by the Holder with the Company, there shall be
attached a stock power or stock powers, duly executed by the Holder in blank,
constituting and appointing the Company his attorney to transfer such stock on
the books of the Company. The Company shall hold such certificates and stock
powers for the purposes of this Agreement. Notwithstanding anything to the contrary
herein, the Company may elect to have the Restricted Shares, including,
without limitation, any additional shares of stock, property or securities
described in Paragraphs 5 and 6 hereof, issued in book-entry in the Company’s
stock record books, and shall not be required to issue a physical certificate
to the Holder until such Restricted Shares are no longer subject to forfeiture.
The Holder shall continue to be the

 

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owner of the Restricted Shares,
despite such deposit and stock powers or book-entry issuance, and shall be
entitled to exercise all rights of ownership in such Restricted Shares,
subject, however, to the provisions of this Agreement.

 

(b)                                 In
performing its duties under this Agreement, the Company shall be entitled to
rely upon any statement, notice, or other writing which it shall in good faith
believe to be genuine and to be signed or presented by a proper party or
parties or on other evidence or information deemed by him to be reliable. In no
event shall the Company be liable for any action taken or omitted in good faith.
The Company may consult with its counsel or counsel of any of the other
parties hereto and, without limiting the generality of the preceding sentence,
shall not be held liable for any action taken or omitted in good faith on
advice of such counsel.

 

It is further agreed that if any controversy
arises, between the parties hereto or with any third person, with respect to
the Restricted Shares or any part of the subject matter of this Agreement,
its terms or conditions, the Company shall not be required to take any actions
in the premises, but may await the settlement of any such controversy by
final appropriate legal proceedings or otherwise as it may require,
notwithstanding anything in this Agreement to the contrary, and in such event
the Company shall not be liable for interest or damages.

 

In the event
that a dispute should arise with respect to the delivery, right to possession,
and/or ownership of the certificates held by the Company representing the Restricted
Shares, the Company is authorized to retain such certificates and evidences in
its possession, or any portion thereof, without liability to anyone, until such
dispute shall have been settled either by mutual written agreement of the
parties concerned or by final order, decree or judgment of a court of competent
jurisdiction after the time for appeal has expired and no appeal has been
perfected, but the Company shall be under no duty whatsoever hereunder to institute
or defend any such proceedings.

 

The provisions
of this Section 3(b) shall survive the expiration or earlier
termination of this Agreement.

 

4.                                       Restriction on Transfer. Other than as set forth in the preceding
Paragraphs of this Agreement with respect to transfers to the Company, the
Holder shall not sell, assign, transfer, pledge, hypothecate, mortgage,
encumber or otherwise dispose of, voluntarily or involuntarily, by operation of
law or otherwise (collectively, “transfer”), any of the Restricted Shares
or any interest therein, unless and until such Restricted Shares are no longer
subject to forfeiture under Paragraph 2 and, accordingly, the Restriction
Period with respect to such shares has terminated.

 

5.                                       Stock Dividends and Certain Other Issuances and
Payments. If the Company shall
pay a stock dividend on, or have a merger, consolidation, capital
reorganization or recapitalization in which while existing Common Stock remains
outstanding, new stock is issued with respect to any of the Common Stock, the
shares of stock of the Company issued in payment of such dividend on, or issued
in connection with such merger, consolidation, capital reorganization or
recapitalization shall be added to, and deemed part of, the Restricted
Shares for all purposes of this Agreement. If the Company shall make a
distribution of property other than cash on any of the Common Stock, or shall
distribute to its stockholders shares of stock of another corporation, the
property or shares of stock of such other corporation distributed with respect
to the Restricted Shares shall be added to and deemed part of the Restricted
Shares for all

 

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purposes
of this Agreement. References in Paragraph 3 to additional shares of stock and
certificates for such shares as described in Paragraphs 5 and 6 and stock
powers therefor shall be deemed to include, without limitation, reference to
such property and instruments evidencing substituted securities described in
Paragraph 6 and to appropriate instruments of transfer therefor, respectively. In
the event of any such dividend, merger, consolidation, capital reorganization
or recapitalization in which while existing Common Stock remains outstanding,
new stock is issued, or in the event of any such distribution of property or
shares of another corporation, unvested Restricted Shares shall remain subject
to forfeiture as set forth above, but the provisions hereof shall be
appropriately adjusted by the Company so that they will continue to apply with
similar effect to such new Restricted Shares.

 

6.                                       Stock Splits, Recapitalizations and Other Events. If the outstanding shares of the Common Stock
shall be subdivided into a greater number of shares or combined into a smaller
number of shares, or in the event of a reclassification of the outstanding
shares of Common Stock, or if the Company shall be a party to any merger,
consolidation, recapitalization or capital reorganization in which securities
are issued in exchange for the Restricted Shares, there shall be substituted
for the Restricted Shares hereunder such amount and kind of securities as are
issued in such subdivision, combination, reclassification, merger,
consolidation, recapitalization or capital reorganization with respect to the Restricted
Shares outstanding immediately prior thereto, and thereafter such securities
shall for all purposes be deemed the Restricted Shares hereunder. In any such
event, the unvested Restricted Shares shall remain subject to forfeiture as set
forth above, but the provisions hereof shall be appropriately adjusted by the
Company so that they will continue to apply with similar effect to such new Restricted
Shares.

 

7.                                       No Transfer in Violation of Agreement. The Company shall not be required to transfer
any of the Restricted Shares on its books which shall purportedly have been
sold, assigned or otherwise transferred in violation of this Agreement, or to
treat as owner of such shares, or to accord the right to vote as such owner or
to pay dividends to, any person or entity to which any such shares shall
purportedly have been sold, assigned or otherwise transferred in violation of
this Agreement. It is expressly understood and agreed that the restrictions on
transfer imposed by this Agreement shall apply not only to voluntary transfers
but also to involuntary transfers, by operation of law or otherwise. The Holder
shall pay all legal fees and expenses of the Company arising out of or relating
to any purported sale, assignment or transfer of any Restricted Shares in
violation of this Agreement.

 

8.                                       Legend. The certificates representing any shares of the Restricted Shares to be
issued to the Holder that are subject to forfeiture shall have endorsed
thereon, in addition to any other legends thereon, legends substantially in the
following form:

 

The securities represented by this
certificate are subject to restrictions on transfer and forfeiture to the
Corporation, as set forth in a restricted stock agreement between the
Corporation and the registered holder hereof, a copy of which will be provided
to the holder hereof by the Corporation upon written request and without
charge.

 

9.                                       Severability. If any provision of this Agreement shall be determined to be invalid,
illegal or otherwise unenforceable by any court of competent jurisdiction, the
validity, legality and enforceability of the other provisions of this Agreement
shall not be affected thereby. Any

 

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invalid,
illegal or unenforceable provision of this Agreement shall be severable, and after
any such severance, all other provisions hereof shall remain in full force and
effect.

 

10.                                 Equitable Relief. The Holder acknowledges that money damages alone will not adequately
compensate the Company for breach of any of the Holder’s covenants and agreements
herein and, therefore, agrees that in the event of the breach or threatened
breach of any such covenant or agreement, in addition to all other remedies
available to the Company, at law, in equity or otherwise, the Company shall be
entitled to injunctive relief compelling specific performance of, or other
compliance with, the terms hereof.

 

11.                                 Tax Matters. The Holder will be liable for any and all taxes, including, without
limitation, withholding taxes, arising out of the grant or the vesting of the Restricted
Shares hereunder, and shall be solely responsible for obtaining such tax
treatment of the Restricted Shares and of Holder’s receipt thereof as the Holder
may desire, including, without limitation, any timely filing of an
election under Section 83(b) of the Internal Revenue Code of 1986, as
amended.

 

(a)                                  The
Holder will provide the Company with all information that the Company shall
request in connection with the Holder’s receipt of the Restricted Shares, and
any subsequent sale(s) or other disposition(s) thereof in order for the Company
to satisfy tax, accounting and securities laws reporting and other regulatory
requirements. Information with respect to sale(s) or disposition(s) of Restricted
Shares by the Holder should be delivered to the Company before the end of the
month within which they occurred. Information should be provided to the
attention of the Company’s General Counsel or, in his absence, to its Chief
Financial Officer.

 

(b)                                 Any
other provision of this Agreement to the contrary notwithstanding, the Holder
shall defend, indemnify and hold the Company harmless from and against any and
all damages, costs, expenses, fines, penalties, reasonable attorney’s fees and
claims of every kind or nature arising from the Holder’s failure to provide any
information required hereunder or to pay any tax amounts promptly and when due.

 

(c)                                  Section 83(b) Tax Election. Holder
acknowledges that the Company has advised the Holder of the possibility of
making an election under Section 83(b) of the Code with respect to
the Restricted Shares. The Holder should consult with his or her tax advisor to
determine the tax consequences of acquiring the Restricted Shares and the
potential advantages and potential disadvantages of filing the Section 83(b) election
in light of the Holder’s individual circumstances. The Holder acknowledges that
it is his or her sole responsibility, and not that of the Company or any of its
subsidiaries, to file a timely election under Section 83(b) and that
the right to make such an election will be lost if notice of such election is
not timely filed.

 

(d)                                 Holder
shall, no later than the date as of which the value of any Restricted Shares
first becomes includable in the gross income of the Holder for Federal income
tax purposes, pay to the Company, or make arrangements satisfactory to the Company
regarding payment of any Federal, state, local and/or payroll taxes of any kind
required by law to be withheld as a result thereof. The Company and its affiliates
shall, to the extent permitted by law, have the right to deduct any such taxes
from any payment of any kind otherwise due to the Holder.

 

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12.                                 Notices. Any notice required or permitted under this Agreement shall be given in
writing and shall be deemed effectively given (a) upon personal delivery, (b) on
the first business day after being sent by express mail or a nationally
recognized overnight courier service, (c) upon transmission by facsimile
with receipt confirmed, or (d) on the third business day after being sent
by registered or certified mail, return receipt requested, postage prepaid. To
be effective, any such notice shall be addressed, if to the Company, at its
principal office, and if to the Holder at the last address of record on the
books of the Company or at such other address as such party may designate
by ten (10) days prior written notice to the other party hereto.

 

13.                                 Benefit of the Agreement. The rights and obligations of the Holder
hereunder are personal to the Holder, and except as otherwise expressly
provided herein, such rights and obligations may not be assigned or
delegated by the Holder without the prior written consent of the Company. Any
assignment or delegation of such rights and obligations of the Holder absent such
consent shall be void and of no force or effect. This Agreement shall inure to
the benefit of, and be binding upon, the legal representatives, successors and
assigns of the Company and the heirs, legal representatives, successors and
permitted assigns of the Holder. The rights and remedies of the Company
hereunder shall be cumulative and in addition to all other rights and remedies
the Company may have, at law, in equity, by contract or otherwise. No
modification, renewal, extension, waiver or termination of this Agreement or
any of the provisions herein contained shall be binding upon the Company unless
made in writing and signed by a duly authorized officer of the Company.

 

14.                                 Choice of Law and Forum. This Agreement shall be governed by, and
construed and enforced in accordance with, the substantive laws of The
Commonwealth of Massachusetts without regard to its principles of conflicts of
laws. All litigation arising from or relating to this Agreement shall be filed
and prosecuted before any court of competent subject matter jurisdiction
located in Boston, Massachusetts. The Holder consents to the jurisdiction of
such courts over him, stipulates to the convenience, efficiency and fairness of
proceeding in such courts, and covenants not to allege or assert the
inconvenience, inefficiency or unfairness of proceeding in such courts.

 

15.                                 Construction. The genders and numbers used in this Agreement are used as reference
terms only and shall apply with the same effect whether the parties are of the
masculine, neuter or feminine gender, corporate or other form, and the singular
shall likewise include the plural.

 

*                                         *                                         *

 

6Exhibit 10.1

 

 

CONFIDENTIAL

 

April 22,
2006

 

Thomas G. C.
Lim

34397 Torrey
Pine Lane

Union City, CA
94587

 

Dear Thomas:

 

It has been a
real pleasure discussing the opportunities ahead for Raining Data Corporation.
We believe that you have the background and experience that we need to help us
grow in our new directions, and we are pleased to offer you a position with Raining
Data Corporation (the “Company”) as its Chief Financial Officer and Vice President
of Finance. In that regard, the following are the details of this offer of employment:

 

Title

 

Your title
will be Chief Financial Officer and Vice President of Finance. In this
position, you will report directly to me.

 

Base
Compensation

 

Your initial
annual base salary will be $175,000, paid in accordance with the Company’s normal
payroll procedures. Your base salary shall be subject to review at the end of
each year of your employment, and any adjustment will be a function of
performance, which I will evaluate and may be subject to approval of the
Compensation of the Board of Directors.

 

Incentive
Bonus

 

Additionally,
you will receive a signing bonus of $20,000 and be entitled to an annual incentive
bonus of up to thirty five percent (35%) of your base salary based on your meeting
certain Management Business Objectives (MBOs) as are mutually agreed upon.

 

 

Stock
Options

 

At a
Compensation Committee Meeting (or sub-committee meeting) that will be held on your
actual start date, you will be granted a stock option, which shall be, to the
extent possible under the rule of Section 422(d) of the Internal
Revenue Code of 1986, as amended (the “Code”), an “incentive stock option” (as
defined in Section 422 of the Code) to purchase 150,000 shares of the
Company’s Common Stock, at an exercise price equal to the then NASDAQ market
price as of the close of the markets on the day of that meeting.

 

Twenty-five
percent (25%) of the shares subject to the above option shall vest one year after
your start date and 1/36th of the remaining shares subject to the
option shall vest monthly thereafter, so that the option shall be fully vested
and exercisable four years from your start date, subject to your continued
service to the Company on the relevant vesting dates. In all other respects the
option shall be subject to the terms, definitions and provisions of the Company’s
Stock Plan and the stock option agreement by and between you and the Company,
both of which documents are incorporated herein by reference.

 

Change
of Control, Additional Accelerated Vesting and Related Items

 

In addition to
the vesting schedule as set forth above, in the event you are terminated
as a result of an Involuntary Termination other than for Cause or Disability
within 12 months after a Change of Control, one hundred percent (100%) of the
Shares subject to the above option shall be vested upon the date of such
termination, provided that you sign a general release in a commercially
customary form prescribed by the Company, which releases and discharges
all known and unknown claims that you may have against the Company or
persons and entities affiliated with the Company, and a covenant not to sue or prosecute
any legal action or proceeding based upon such claims. For the purposes of this
paragraph, the following terms shall have the following meanings:

 

A)          “Cause”
shall mean

 

(i)                                     Gross and willful
failure to perform services:

 

(ii)                                  Conviction of, or a
plea of “guilty” or “no contest” to, a felony under the laws of the United
States or any state thereof, if such felony either is work-related or
materially impairs your ability to perform services for the Company:

 

(iii)          A
material breach of fiduciary duty, including fraud, embezzlement, dishonesty or
any intentional action that materially injures the Company as determined in
good faith by the Company’s Board of Directors;

 

(iv)          Death;

 

(v)           A
material breach of the Confidential Information Agreement.

 

2

 

In all of the foregoing cases, the Company shall provide written notice
to you indicating in reasonable detail the event or circumstances that
constitute Cause under this Agreement and the Company will provide you with
forty-five days to cure such breach or failure prior to termination for Cause.
During such 45-day cure period, the Company may place you on unpaid leave.

 

B)            “Change in Control” shall mean (i) any
“person” (as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”) who becomes
the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act),
directly or indirectly, of securities of the Company representing fifty percent
(50%) or more of the total voting power represented by the Company’s then
outstanding voting securities, provided, however, that Change in Control shall
not include any change resulting from any capital financings of the Company; or
(ii) the consummation of the sale or disposition by the Company of all or
substantially all of the Company’s assets; or (iii) the consummation of a
merger or consolidation of the Company with any other corporation, other than a
merger or consolidation which would result in the voting securities of the
company outstanding immediately prior thereto continuing to represent (either
by remaining outstanding or by being converted into voting securities of the
surviving entity or its parent) at least fifty percent (50%) of the total
voting power represented by the voting securities of the Company or such surviving
entity or its parent outstanding immediately after such merger or consolidation.

 

C)            “Disability” shall mean that you physically
or mentally are unable regularly to perform your duties hereunder for a
period in excess of sixty (60) consecutive days or more than ninety (90) days
in any consecutive twelve (12) month period. The Company shall make a good
faith determination of whether you are physically or mentally unable to
regularly perform your duties subject to its review and consideration of
any physical and/or mental health information provided to it by you.

 

D)           “Involuntary Termination” shall mean (i) without
your express written consent, the substantial reduction your duties or
responsibilities relative to your duties or responsibilities in effect
immediately prior to such reduction; provided, however, that a reduction in
duties or responsibilities solely by virtue of the Company being acquired and
made part of a larger entity (as, for example, when the Vice President of
Company remains as such following a Change of Control and is not made the Vice
President of the acquiring corporation) shall not constitute an “Involuntary
Termination”; (iii) without your express written consent, a material reduction
by the Company in your base compensation as in effect immediately prior to such
reduction; (iv) a material reduction by the Company in the kind or level
of employee benefits package is significantly reduced; (v) your relocation
to a facility or a location more than 50 miles from your then present location,

 

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without your express written consent; (vi) any purported
termination of you by the Company which is not effected for death or Disability
or for Cause; or (vii) the failure of the Company to obtain the assumption
of this agreement by any successors.

 

Severance

 

If your
employment is terminated for any reason other than for Cause prior to the first
six months from your start date, you shall continue to receive your then basic
salary for three months following the date of your termination (the “Severance
Period”). If you obtain other employment during the Severance Period, the total
amount of your earnings from other sources will be deducted from your severance
payments. You agree to notify the Company of other employment during the
Severance Period, and provide the Company with complete information regarding
your earnings. Except for Change of Control as set forth above, the vesting of
your stock options shall be accelerated such that you shall be entitled to
purchase a number of shares of the Company’s Common Stock pursuant to the Stock
Option Agreement as if the Company had employed you for one year.

 

If your
employment is terminated for any reason other than Cause after your first six months
of service, you shall continue to receive your then basic salary for six months
following the date of your termination subject to the credit for other earnings
described above. Except for Change of Control as set forth above, your stock
options shall continue to vest during the six month severance period such that
you shall be entitled to purchase a number of shares of the Company’s Common
Stock pursuant to the Stock Option Agreement as if the Company had employed you
through the end of that six month severance period.

 

Your receipt
of the severance benefits described above will be contingent upon your signing
a general release in a commercially customary form prescribed by the
Company, which releases and discharges all known and unknown claims that you may have
against the Company or persons and entities affiliated with the Company, and a
covenant not to sue or prosecute any legal action or proceeding based upon such
claims. Additionally, your receipt of the severance benefits described above
also will be contingent upon your compliance with the noncompetition and
nonsolicitation obligations set forth below, and your obligations under the
Company’s Employment Confidential Information, Invention Assignment, and
Arbitration Agreement.

 

Noncompetition
and Nonsolicitation

 

During the
severance periods described above, you agree that you will not, directly or indirectly,
engage in (whether as an employee, consultant, proprietor, partner, director or
otherwise) or have any ownership interest in, or participate in the financing
operation, management, control of, any person, firm, corporation or business
that engages in any business activity that is competitive with the Company (or
of any Affiliated Company), provided, however, that nothing contained in this
paragraph shall be construed to prohibit

 

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you from
purchasing and owning (directly or indirectly) up to one percent (1%) of the capital
stock or other securities of any corporation or other entity whose stock or securities
are traded on any national or regional securities exchange or the national over-the-
counter market and such ownership shall not constitute a violation of this
paragraph.

 

Additionally,
for a period of one (1) year following the termination of your employment for
any reason, you agree that you will not, directly or indirectly, (A) divert
or attempt to divert from the Company (or any Affiliated Company) any business
of any kind in which it is engaged, including, without limitation, the
solicitation of or interference with any of its suppliers or customers; or (B) solicit,
hire, recruit, or employ any person or entity who is employed by or has a
contractual relationship with the Company, or encourage any person or entity
who is employed by or has a contractual relationship with the Company to
terminate their employment or contractual relationship with the Company.

 

Benefit
Plans

 

You shall be
entitled to participate, to the extent permitted by law, in the medical insurance
plans and other benefits offered by the Company. You should note that the Company
reserves the right to cancel or change the benefit plans and programs it offers
to its employees at any time.

 

Vacation

 

You shall also
be eligible to receive three weeks of paid time-off per year, which, if unused,
shall accrue in accordance with the Company’s standard benefit policies.

 

Start
Date

 

We hope that
you will be able to start with the Company as soon as possible. However, in any
case your start date will be on or prior to May 29, 2006.

 

The Company is
excited about your joining and looks forward to a beneficial and fruitful relationship.
Nevertheless, you should be aware that your employment with the Company is for
no specific period and constitutes at-will employment. As a result, you are
free to resign at any time, for any reason or for no reason. Similarly, the
Company is free to conclude its employment relationship with you at any time,
with or without cause and with at least one-month notice. We request that, in
the event of resignation, you give the Company at least one month’s notice. You
understand and agree that neither your job performance nor promotions,
commendations, bonuses or the like from the Company give rise to or in any way
serve as the basis for modification, amendment, or extension, by implication or
otherwise, of your employment with the Company.

 

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Miscellaneous

 

For purpose of
federal immigration law, you will be required to provide to the Company documentary
evidence of your identity and eligibility for employment in the United States.
Such documentation must be provided to the Company within three (3) business
days of your date of hire, or our employment relationship with you may be
terminated.

 

This Agreement
and all benefits due you hereunder shall inure to the benefit of, and be enforceable
by, your personal or legal representatives, executors, administrators, successors,
heirs, distributees, devisees and legatees.

 

We also ask
that, if you have not already done so, you disclose to the Company any and all
agreements relating to your prior employment that may affect your eligibility
to be employed by the Company or limit the manner in which you may be
employed. It is the Company’s understanding that any such agreements will not
prevent you from performing the duties of your position and you represent that
such is the case.

 

You agree that
you will not enter into any agreements with another entity that requires you to
be an employee or consultant, in name or duties, during your employment with
the Company. Moreover, you agree that, during the term of your employment with
the Company, you will not engage in any other employment, occupation,
consulting or other business activity directly related to the business in which
the Company is now involved or become involved during the term of your
employment, nor will you engage in any other activities that conflict with your
obligations to the Company. Similarly, you agree not to bring any third party
confidential information to the Company, including that of your former
employer, and that in performing your duties for the Company you will not in
any way utilize any such information.

 

As a Company
employee, you will be expected to abide by Company rules and standards. You
will be specifically required to sign an acknowledgment that you have read and
that you understand the Company’s rules of conduct with are included in
the Company Handbook. As a condition of your employment, you are also required
to sign and comply with an Employment, Confidential Information, Invention
Assignment and Arbitration Agreement which requires, among other provisions,
the assignment of patent rights to any invention made during your employment at
the Company, and non-disclosure of Company proprietary information. In the
event of any dispute or claim relating to or arising out of your employment
relationship, you and the Company agree that (i) any and all disputes
between you and the Company shall be fully and finally resolved by binding arbitration,
(ii) you are waiving any and all rights to a jury trial but all court
remedies will be available in arbitration, (iii) all disputes shall be
resolved by a neutral arbitrator who shall issue a written opinion, (iv) the
arbitration shall provide for adequate discovery, and (v) the Company
shall pay all arbitration fees, excluding attorneys fees and legal costs. Please
note that we must receive your signed Agreement before your first day of employment.

 

This letter
shall be governed by the internal substantive laws, but not the choice of law rules,
of the State of California.

 

6

 

In the event
that any provision hereof becomes or is declared by a court of competent jurisdiction
to be illegal, unenforceable, or void, this letter shall continue in full force
and effect without such provision. In the event that there is any conflict between
this offer letter and your Stock Option Plan or Stock Option Agreement, this
offer letter will govern.

 

To indicate
your acceptance of the Company’s offer, please sign and date this letter in the
space provided below. A duplicate original is enclosed for your records. This
letter, along with any agreements relating to proprietary rights between you
and the Company, sets forth the terms of your employment with the Company and
supersedes any prior representations or agreements including, but not limited
to, any representation made during your recruitment, interviews or pre
employment negotiations, whether written or oral. This letter, including, but
not limited to, its at-will employment provision, may not be modified or
amended except by a written agreement signed by the Company’s Chief Executive
Officer and you. This offer of employment will terminate if it is not accepted,
signed and returned by April 23, 2006, or unless otherwise withdrawn by
the Company prior to your acceptance.

 

Thomas, we all
look forward to working with you at Raining Data, and believe that your contributions
will be significant in moving the Company into its new market opportunities.

 

Best regards,

 

 

Carlton H.
Baab

President &
CEO

Raining Data
Corporation

 

 

	
  AGREED AND ACCEPTED:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Thomas G. C.
  Lim

  	
  Date

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Start Date

  	
   

  
					

 

7

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