Document:

EX-10.115

	 	 	 	 	 

Exhibit 10.115

COMPUWARE CORPORATION

AMENDED AND RESTATED 2005 NON-EMPLOYEE DIRECTORS’

DEFERRED COMPENSATION PLAN

1. PURPOSES OF THE PLAN:

The purposes of the Compuware Corporation Non-Employee Directors’ Deferred Compensation Plan
(the “Plan”) are (a) to provide Directors of the Company with an increased incentive to make
significant and extraordinary contributions to the long-term performance and growth of the
Company, (b) to join the interests of directors with the interests of the shareholders of the
Company, and (c) to facilitate attracting and retaining directors of exceptional ability.

2. DEFINITIONS:

The following terms shall have the meaning set forth in this Section 2 unless a different
meaning is plainly required by the context.

	 	2.1	 	“Beneficiary” means the person that the Participant designates in
writing, on a form prescribed by the Company, to receive payments under the Plan after
the Participant’s death. If there is no such designation or if the designated
Beneficiary predeceases the Participant, the Beneficiary shall be his spouse, if any,
and if none, his estate.
	 
	 	2.2	 	“Code” means the Internal Revenue Code of 1986, as amended.
	 
	 	2.3	 	“Committee” means the Compensation Committee of the Board of Directors
or any other committee meeting the standards of Rule 16b-3 under the Exchange Act, or
any similar successor rule, appointed or designated by the Board of Directors to
perform any of the functions and duties of the Committee under this Plan, or, if so
designated by the Board of Directors, the Board of Directors as a whole.
	 
	 	2.4	 	“Company” means Compuware Corporation, a Michigan corporation, or any
successor of Compuware Corporation.
	 
	 	2.5	 	“Compensation” means a Participant’s fees, payable in cash, for
services rendered by a Participant as a Director of the Company during a calendar year.
Compensation shall not include any amounts paid by the Company to a Participant that
are not strictly in consideration for personal services, such as expense
reimbursements.
	 
	 	2.6	 	“Deferred Compensation Agreement” means a written agreement between a
Participant and the Company in substantially the form set forth in Appendix A, whereby
a Participant agrees to defer all or a portion of his or her Compensation in the form
of Restricted Stock Units and the Company agrees to grant Restricted Stock Units under
the LTIP with the terms set forth in the Restricted Stock Unit Award Agreement.
	 
	 	2.7	 	“Director” means an individual who is not an employee of Compuware
Corporation and who is a member of the Board of Directors of Compuware Corporation.

 

 

	 	2.8	 	“LTIP” means the Company’s 2007 Long Term Incentive Plan, as amended
from time to time.
	 
	 	2.9	 	“Participant” means any Director who has entered into a written
Deferred Compensation Agreement with the Company in accordance with the provisions of
the Plan.
	 
	 	2.10	 	“Restricted Stock Unit” shall have the same meaning as defined in the
LTIP.
	 
	 	2.11	 	“Restricted Stock Unit Award Agreement” means the form of Restricted
Stock Unit Award Agreement (CPWR Director Deferred Plan Automatic Grant Version)
attached hereto as Appendix B.

3. PARTICIPANT DEFERRAL AND DISTRIBUTION ELECTIONS:

	 	3.1	 	Execution of Agreement: A Director who wishes
to participate in the Plan must execute a Deferred Compensation Agreement
either (a) for newly eligible Participants, within 30 days after first
becoming eligible to participate in the Plan (to defer Compensation for the
remainder of that calendar year and subsequent years), or (b) prior to
January 1 of the first calendar year for which the Deferred Compensation
Agreement is to be effective.
	 
	 	3.2	 	Deferral Election: Any Director may elect to
have some or all of his or her Compensation deferred. All deferred
Compensation shall be payable in the form of Restricted Stock Units. The
number of Restricted Stock Units will be specified in the Restricted Stock
Unit Award Agreement and shall be determined by dividing the amount of
deferred Compensation that would otherwise have been payable on such date
(but for such deferral election) by the closing price on the Nasdaq of the
Common Stock on the day prior to the date such cash compensation becomes
due from the Company but for such deferral election (or if the Common Stock
was not traded on the Nasdaq on such day, then the closing price on the
next preceding date on which the Common Stock was so traded).
	 
	 	3.3	 	Change of Deferral Election: An election to
defer Compensation shall remain in effect for future calendar years unless
changed in accordance with this Section. A Participant who wishes to
change an election to defer Compensation may do so at any time by notifying
the Committee in writing prior to January 1 of the year for which the
change in election is to be effective and, if Compensation will continue to
be deferred, executing a new Deferred Compensation Agreement containing the
revised election.
	 
	 	3.4	 	Distributions Form and Timing: The timing and
form of settlement of the Restricted Stock Units shall be governed by the
associated Restricted Stock Unit Award Agreement.

4. ADMINISTRATION:

The Committee shall administer this Plan. Subject to the provisions of this Plan, the Committee
is authorized to interpret this Plan, to promulgate, amend and rescind rules and regulations
relating to this Plan and to make all other determinations necessary or advisable for its
administration.
Interpretation and construction of any provision of this Plan by the Committee shall, unless
otherwise

 

 

determined by the Board of Directors, be final and conclusive. A majority of the
Committee shall constitute a quorum, and the acts of a majority of the members present at any
meeting at which a quorum is present, or acts approved in writing by a majority of the
Committee, shall be the acts of the Committee.

5. INDEMNIFICATION OF COMMITTEE MEMBERS:

In addition to such other rights of indemnification as they may have, the members of the
Committee shall be indemnified by the Company in connection with any claim, action, suit or
proceeding relating to any action taken or failure to act under or in connection with this Plan
to the full extent provided for under the Company’s articles of incorporation or bylaws with
respect to indemnification of directors of the Company; provided, however, that within 60 days
after receipt of notice of institution of any such claim, action, suit or proceeding the
Committee member shall offer the Company in writing the opportunity, at its own cost, to handle
and defend such claim, action, suit or proceeding.

6. MISCELLANEOUS:

	 	6.1	 	Assignability: A Participant’s rights and interests under the Plan may
not be assigned or transferred except in the event of the Participant’s death.
	 
	 	6.2	 	Effective Date of Plan: This Plan shall be effective on the date the
Board of Directors adopts this Plan.
	 
	 	6.3	 	Taxes: The Company shall deduct from all payments made under this Plan
all applicable taxes required by law to be withheld.
	 
	 	6.4	 	Construction: The Plan shall be construed according to the laws of the
State of Michigan notwithstanding conflict of law provisions.
	 
	 	6.5	 	Termination, Duration and Amendments to this Plan: This Plan shall
continue in effect until abandoned or terminated by the Board of Directors by
resolution approved in accordance with the bylaws of the Company. The termination of
this Plan shall not affect the validity of any Restricted Stock Units that are
outstanding on the date of termination. For the purpose of conforming to any changes
in applicable law or governmental regulations, or for any other lawful purpose, the
Board of Directors shall have the right, without approval of the shareholders of the
Company or any Participant, to amend or revise the terms of this Plan or any agreement
under this Plan at any time; provided, however, that any such amendment shall be in
writing.
	 
	 	6.6	 	Unsecured General Creditor: Participants and their beneficiaries,
heirs, successors, and assigns shall have no legal or equitable rights, interest, or
claims in any property or assets of the Company. The assets of the Company shall not be
held under any trust for the benefit of Participants, their beneficiaries, heirs,
successors, or assigns, or held in any way as collateral security for the fulfilling of
the obligations of the Company under this Plan. Any and all Company assets shall be,
and remain, the general, unpledged, unrestricted assets of the Company. The Company’s
obligation under the Plan shall be an unfunded and unsecured promise of the Company to
pay money in the future.
	 
	 	6.7	 	Lawsuits, Jurisdiction, and Venue: Any lawsuit claiming entitlement
to benefits under this Plan must be initiated no later than one year after the event(s)
giving rise to the
claim occurred. Any legal action involving benefits claimed or legal obligations
relating to or arising under this Plan may be filed only in Wayne County, Michigan.

 

 

	 	6.8	 	No Further Right to Continue as a Director: Nothing contained in this
Plan, nor any action taken by the Committee under this Plan, shall confer upon any
Participant any right to continue in office as a director of the Company.
	 
	 	6.9	 	Nature of Interest and Source of Payment: The Plan and the Deferred
Compensation Agreement shall not constitute a trust or a funded arrangement of any sort
and shall be merely for the purpose of recording an unsecured contractual obligation of
the Company with respect to the Participant and/or any person claiming by or through
him.
	 
	 	6.10	 	Headings: The headings of the Plan are inserted for convenience of
reference only and shall have no effect upon the meaning of the provisions hereof.
	 
	 	6.11	 	Severability: The provisions of the Plan are severable. If any
provision of the Plan is deemed legally or factually invalid or unenforceable to any
extent or in any application, the remainder of the provisions of the Plan, except to
such extent or in such application, shall not be affected, and every provision of the
Plan shall be valid and enforceable to the fullest extent and in the broadest
application permitted by law.
	 
	 	6.12	 	Entire Agreement/Amendment: This document, the Restricted Stock Unit
Award Agreement, the Deferred Compensation Agreement and the related election forms
shall constitute the entire agreement between the parties, and no oral modifications or
modifications not made in accordance without the written consent of the parties shall
be effective.

     Adopted by the Board of Directors on November 6, 2008.

 

 

APPENDIX A

Compuware Corporation

Form of Director Deferred Compensation Agreement

     THIS AGREEMENT dated                     , is between
COMPUWARE CORPORATION (the “Company”) and
                    
(the “Director”). The Company designates the Director as a Participant in
the Company’s Amended and Restated 2005 Non-Employee Directors Deferred Compensation Plan (the
“Plan”), which is incorporated into this Agreement.

The Company and the Director agree as follows:

     The
Director irrevocably elects to defer receipt of $                     or
                    % per year
of his or her Compensation from the Company to be earned commencing January 1, 2009. A grant of
Restricted Stock Units shall be made under the LTIP to the Director on the date such Compensation
becomes due from the Company (but for this deferral election) in an amount determined in accordance
with Section 3.2 of the Plan. The Restricted Stock Units shall be settled as provided in the
related Restricted Stock Unit Award Agreement. Note: This election will apply to your Compensation
earned during 2009 and in successive years unless you elect to change the deferral election as
provided in the Plan.

     The Company believes, but does not guarantee, that a deferral election made in accordance with
the terms of the Plan is effective to defer the receipt of taxable income. The Director has been
advised to consult with his or her attorney or accountant familiar with the federal and state tax
laws regarding the tax implications of this Deferred Compensation Agreement and the Plan.

     IN WITNESS WHEREOF, the parties have entered into this Agreement on the day first written
above.

	 	 	 
	COMPUWARE CORPORATION

	 	DIRECTOR
	 
	 	 
	By                                    
                        

	 	ByEX-10.116

Exhibit 10.116

COMPUWARE CORPORATION

2002 DIRECTORS PHANTOM STOCK PLAN

FORFEITURE AND REPLACEMENT AGREEMENT

     THIS FORFEITURE AND REPLACEMENT AGREEMENT (“Agreement”) dated
                    , is between COMPUWARE
CORPORATION (the “Company”) and «director» (the “Director”).

     WHEREAS, the Director is currently a participant in the 2002 Directors Phantom Stock Plan (the
“Plan”);

     WHEREAS, the Director currently has the right to receive a payment of cash due to prior awards
of Phantom Shares made to the Director under the Plan;

     WHEREAS, the Director desires to forfeit all rights to payment of cash pursuant to these
Phantom Shares and the Company desires to replace these forfeited Phantom Shares with an equivalent
value of Restricted Stock Units pursuant to the attached Restricted Stock Unit Award Agreement and
the Compuware Corporation 2007 Long Term Incentive Plan (the “LTIP”);

     THEREFORE, the Director and the Company agree to the following:

     1. The Director shall forfeit all rights to the payment of Phantom Shares under the Plan and
the Director’s Phantom Share Award Agreements.

     2. As of January 1, 2009, the Company shall grant the Director a number of Restricted Stock
Units under the LTIP determined by dividing the cumulative Value (as defined in the Plan) as of
January 1, 2009 of Phantom Shares under the Plan held by the Director on such date by the average
of the high and low sale prices per share of the Company’s common stock on Nasdaq on December 31,
2008 (or if the Common Stock is not traded on the Nasdaq on such date, then on the next preceding
date on which the Common Stock was so traded) and such Restricted Stock Units shall have such other
terms as set forth in the Restricted Stock Unit Award Agreement attached hereto as Exhibit A.

     3. The Director has had an opportunity to review this Agreement with Director’s independent
tax advisor.

     IN WITNESS WHEREOF, the undersigned agreed to the terms of this Agreement and executed as of
the date set forth above.

	 	 	 	 	 
	 	COMPUWARE CORPORATION

 	 
	 	By:  	 	 
	 	 	Daniel S. Follis, Jr. 	 
	 	 	General Counsel & Secretary 	 
	 
	 	DIRECTOR

 	 
	 	 	By:

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