Document:

EX-10.20(a)

AMENDMENT NO. 2

TO AMENDED AND RESTATED

CREDIT AND SECURITY AGREEMENT

This AMENDMENT NO. 2 TO AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT (this
“Amendment”) is entered into as of February 10, 2006, by and among MARINEMAX, INC., a
Delaware corporation and each of the other Borrowers set forth on Schedule I attached
hereto and by the reference incorporated herein (collectively, “Borrowers”), and KEYBANK
NATIONAL ASSOCIATION, a national banking association, both individually (in such capacity,
“KeyBank”) and as administrative agent (in such capacity, the “Administrative
Agent”) for the Lenders (as hereinafter defined), BANK OF AMERICA, N.A., a national banking
association, individually (in such capacity, “BOA”), as collateral agent (in such capacity,
the “Collateral Agent”) and as documentation agent (in such capacity, the
“Documentation Agent”) and the various other financial institutions as are or may become
parties hereto, including, as of the date hereof, GE COMMERCIAL DISTRIBUTION FINANCE CORPORATION, a
Delaware corporation (“GE Commercial”) and NATIONAL CITY BANK, a national banking
association (“National City”) (KeyBank, BOA, GE Commercial, National City, and such other
financial institutions, collectively, the “Lenders”), amending that Amended and Restated
Credit and Security Agreement dated as of February 3, 2005, by and among Borrowers and Lenders as
previously amended by Amendment No. 1 to Amended and Restated Credit and Security Agreement dated
April 8, 2005 (collectively, the “Agreement”). Unless otherwise defined in this Amendment,
all defined terms used in this Amendment shall have the meaning ascribed to such terms in the
Agreement. This Amendment is entered into in consideration of, and upon, the terms, conditions and
agreements set forth herein.

1. Background. Borrowers and Lenders desire to amend certain provisions of the
Agreement effective as of the date of this Amendment.

2. Amendments to the Agreement. The Agreement is hereby amended as follows:

(a) Changes to Definitions. The definitions of “Commitment Amount,” “Pro Rata
Percentage,” and “Termination Date” as defined in Section 1.01 of the Agreement shall be amended to
read as follows:

“Commitment Amount” shall mean three hundred eighty-five million dollars
($385,000,000), the maximum aggregate amount of the Commitment; provided,
however, that if the Borrowers exercise their right to reduce the Commitment in
part pursuant to Section 2.04 of this Agreement, then after the effective date of such
partial reduction the Commitment Amount shall be the original Commitment Amount less
all portions of the Commitment theretofore cancelled by the Borrowers.

“Pro Rata Percentage” shall mean, with respect to any Lender, a fraction
(expressed as a percentage), the numerator of which is the amount of such Lender’s
Commitment and the denominator of which is the Commitments of all of the Lenders.
Without limiting the generality of the foregoing and subject to the rights of the
Lenders as set forth in Section 9.04 of this Agreement, the Pro Rata Percentages of
the Lenders are as set forth in Section 2.01 of this Agreement.

“Termination Date” shall mean March 1, 2009; provided, however,
that upon the Company’s request such date may be extended for two successive periods
of one year each with the prior written consent of all of the Lenders for each such
annual extension.

(b) Change to Section 2.01(b) Regarding Lenders and Pro Rata Percentages. Section
2.01(b) of the Agreement is hereby amended to read in its entirety as follows:

(b) Lenders and Pro Rata Percentages. Until such time as additional or
replacement Lenders are added in the manner contemplated by Section 9.05 or Section
9.06 of this Agreement, the respective initial Pro Rata Percentages of the initial
Lenders in the Commitment shall be as follows:

	 	 	 	 	 
	Lender	 	Pro Rata Percentage
	KeyBank
	 	 	25.974	%
	BOA
	 	 	35.065	%
	GE Commercial
	 	 	23.377	%
	National City
	 	 	15.584	%
	 
	 	 	 	 
	TOTAL
	 	 	100.000	%
	 
	 	 	 	 

Each Lender shall have the right to participate a portion of its Pro Rata Percentage
of the Advances and the Commitment and to assign their Pro Rata Percentage in the
Advances and the Commitment in the manner permitted by Section 9.04 of this Agreement.

(c) Change to Section 6.02 Regarding Operating Leases. The last sentence of Section
6.02 is hereby amended to read in its entirety as follows:

The Borrowers shall not enter into or be parties to Operating Leases (including,
without limitation, leases for boat show space and equipment rental) requiring total
rental payments during any fiscal year during the term of this Agreement in excess of
fifteen million dollars ($15,000,000) in the aggregate.

(d) Change to Section 6.14 Regarding Capital Expenditures. Section 6.14 is hereby
amended to read in its entirety as follows:

6.14. Limitations on Capital Expenditures. The Borrowers shall not
without the prior written consent of the Required Lenders, which consent shall not be
unreasonably withheld, make:

(a) capital expenditures for leasehold improvements of more than three million
dollars ($3,000,000) in any year;

(b) other capital expenditures exceeding forty-five million dollars ($45,000,000)
per year for the 2006 fiscal year or twenty-seven million five hundred thousand
dollars ($27,500,000) per year for any subsequent fiscal year.

(e) Change to Section 8.07(d) Regarding Compensation of Collateral Agent and Documentation
Agent. Section 8.07(d) is hereby amended to read in its entirety as follows:

(d) The Borrowers will pay the Collateral Agent and the Documentation Agent
annually in advance a single fee of seven thousand five hundred dollars ($7,500), with
the first such annual payment to be paid at the time of execution and delivery of
Amendment No. 2 to the Amended and Restated Credit and Security Agreement. The
Documentation Agent shall have no further duties and shall perform no other services
after execution and delivery of Amendment No. 2 to the Amended and Restated Credit and
Security Agreement, so all payments subsequent to such payment made at the time of
execution and delivery of Amendment No. 2 to the Amended and Restated Credit and
Security Agreement shall be solely in respect of service as the Collateral Agent.

3. Effect on Agreement. Except as specifically amended and modified by this
Amendment, all terms, conditions, covenants and agreements set forth in the Agreement shall remain
in full force and effect.

4. Counterparts. This Amendment may be executed in two or more counterparts, each of
which shall constitute an original but all of which when taken together shall constitute one
agreement.

[The remainder of this page intentionally left blank]

1

IN WITNESS WHEREOF, this Amendment No. 2 to the Amended and Restated Credit and Security
Agreement has been executed and delivered by the parties as of the day and year first above
written.

“BORROWERS”

MARINEMAX, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Executive Vice President and Chief Financial Officer

MARINEMAX OF SOUTHEAST FLORIDA, LLC, a Delaware limited liability company

By: /s/ Michael H. McLamb      

Michael H. McLamb

Manager

MARINEMAX OF MINNESOTA, INC., a Minnesota corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

President

MARINEMAX OF SOUTHWEST FLORIDA, LLC, a Delaware limited liability company

By: /s/ Michael H. McLamb      

Michael H. McLamb

Manager

MARINEMAX OF CENTRAL FLORIDA, LLC, a Delaware limited liability company

By: /s/ Michael H. McLamb      

Michael H. McLamb

Manager

MARINEMAX OF SARASOTA, LLC, a Delaware limited liability company

By: /s/ Michael H. McLamb      

Michael H. McLamb

Manager

MARINEMAX OF CALIFORNIA, INC., a California corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Assistant Vice President

MARINEMAX OF ARIZONA, INC., an Arizona corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX MIDATLANTIC, LP, a Delaware limited partnership

By: MarineMax New Jersey GP, Inc., its general partner

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX MOTOR YACHTS, LLC, a Delaware limited liability company

By: /s/ Michael H. McLamb      

Michael H. McLamb

Manager

MARINEMAX OF LAS VEGAS, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX OF NORTH CAROLINA, INC., a North Carolina corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX OF OHIO, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX OF UTAH, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX TX, L.P., a Texas limited partnership

By: Dumas GP, L.L.C., its general partner

By: 11502 Dumas, Inc., its sole member

By: /s/ Kurt M. Frahn      

Kurt M. Frahn

Secretary

MARINEMAX OF GEORGIA, INC., a Georgia corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

BASSETT BOAT COMPANY, a Florida corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

BASSETT REALTY, L.L.C., a Delaware limited liability company

By: MarineMax, Inc., its sole member

By: /s/ Michael H. McLamb      

Michael H. McLamb

Executive Vice President and Chief Financial Officer

C & N MARINE REALTY, L.L.C., a Delaware limited liability company

By: MarineMax, Inc., its sole member

By: /s/ Michael H. McLamb      

Michael H. McLamb

Executive Vice President and Chief Financial Officer

GULFWIND SOUTH REALTY, L.L.C., a Delaware limited liability company

By: MarineMax, Inc., its sole member

By: /s/ Michael H. McLamb      

Michael H. McLamb

Executive Vice President and Chief

Financial Officer

HARRISON’S REALTY, L.L.C., a Delaware limited liability company

By: MarineMax, Inc., its sole member

By: /s/ Michael H. McLamb      

Michael H. McLamb

Executive Vice President and Chief Financial Officer

HARRISON’S REALTY CALIFORNIA, L.L.C., a Delaware limited liability company

By: MarineMax, Inc., its sole member

By: /s/ Michael H. McLamb      

Michael H. McLamb

Executive Vice President and Chief Financial Officer

MARINA DRIVE REALTY I, L.L.C., a Delaware limited liability company

By: MarineMax, Inc., its sole member

By: /s/ Michael H. McLamb      

Michael H. McLamb

Executive Vice President and Chief Financial Officer

MARINA DRIVE REALTY II, L.L.C., a Delaware limited liability company

By: MarineMax, Inc., its sole member

By: /s/ Michael H. McLamb      

Michael H. McLamb

Executive Vice President and Chief Financial Officer

WALKER MARINA REALTY, L.L.C., a Delaware limited liability company

By: MarineMax, Inc., its sole member

By: /s/ Michael H. McLamb      

Michael H. McLamb

Executive Vice President and Chief Financial Officer

DUMAS GP, L.L.C., a Delaware limited liability company

By: 11502 Dumas, Inc., its sole member

By: /s/ Kurt M. Frahn      

Kurt M. Frahn

Secretary

MARINEMAX NEW JERSEY GP, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX NJ PARTNERS, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX OF NEW JERSEY HOLDINGS, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MMX GP, LLC, a Delaware limited liability company

By:_/s/ Kurt M. Frahn      

Kurt M. Frahn

Authorized Representative

MMX HOLDINGS, LLC, a Delaware limited liability company

By: /s/ Kurt M. Frahn      

Kurt M. Frahn

Authorized Representative

MMX INTERESTS, LLC, a Delaware limited liability company

By: /s/ Kurt M. Frahn      

Kurt M. Frahn

Authorized Representative

MMX MEMBER, INC., a Delaware corporation

By: /s/ Kurt M. Frahn      

Kurt M. Frahn

Authorized Representative

MMX PARTNERS, INC., a Delaware corporation

By: /s/ Kurt M. Frahn      

Kurt M. Frahn

Authorized Representative

MMX VENTURES, LP, a Delaware limited partnership

By: MMX GP, LLC, its general partner

By: /s/ Kurt M. Frahn      

Kurt M. Frahn

Authorized Representative

11502 DUMAS, INC., a Nevada corporation

By: /s/ Kurt M. Frahn      

Kurt M. Frahn

Secretary

DUMAS GP, INC., a Nevada corporation

By: /s/ Kurt M. Frahn      

Kurt M. Frahn

Secretary

NEWCOAST FINANCIAL SERVICES, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX SERVICES, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX U.S.A., INC., a Nevada corporation

By: /s/ Kurt M. Frahn      

Kurt M. Frahn

Secretary

DELAWARE AVLEASE, LLC, a Delaware limited liability company

By: /s/ Kurt M. Frahn      

Kurt M. Frahn

Authorized Representative

MARINEMAX OF COLORADO, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX INTERNATIONAL, LLC, a Delaware limited liability company

By: /s/ Michael H. McLamb      

Michael H. McLamb

Manager

BOATING GEAR CENTER, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX OF MISSOURI, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

MARINEMAX OF NEW YORK, INC., a Delaware corporation

By: /s/ Michael H. McLamb      

Michael H. McLamb

Vice President

2

“LENDERS”

KEYBANK NATIONAL ASSOCIATION

By: /s/ Scott Saber

Name: Scott Saber

Title: Vice President

BANK OF AMERICA, N.A.

By: /s/ John R. Burns

Name: John R. Burns

Title: Vice President

GE COMMERCIAL DISTRIBUTION FINANCE CORPORATION, a Delaware corporation

By: /s/ Christopher C. Meals

Name: Christopher C. Meals

Title: Executive Vice President

NATIONAL CITY BANK, a national banking association

By: /s/ Peter G. Shaw

Name: Peter G. Shaw

Title: Vice President

“ADMINISTRATIVE AGENT”

KEYBANK NATIONAL ASSOCIATION

By: /s/ Scott Saber

Name: Scott Saber

Title: Vice President

“COLLATERAL AGENT” and “DOCUMENTATION AGENT”

BANK OF AMERICA, N.A.

By: /s/ John R. Burns

Name: John R. Burns

Title: Vice President

3

Schedule I

	 	1.	 	MARINEMAX OF SOUTHEAST FLORIDA, LLC, a Delaware limited liability company,

	 	2.	 	MARINEMAX OF MINNESOTA, INC., a Minnesota corporation,

	 	3.	 	MARINEMAX OF SOUTHWEST FLORIDA, LLC, a Delaware limited liability company,

	 	4.	 	MARINEMAX OF CENTRAL FLORIDA, LLC, a Delaware limited liability company,

	 	5.	 	MARINEMAX OF SARASOTA, LLC, a Delaware limited liability company,

	 	6.	 	MARINEMAX OF CALIFORNIA, INC., a California corporation,

	 	7.	 	MARINEMAX OF ARIZONA, INC., an Arizona corporation,

	 	8.	 	MARINEMAX MIDATLANTIC, LP, a Delaware limited partnership,

	 	9.	 	MARINEMAX MOTOR YACHTS, LLC, a Delaware limited liability company,

	 	10.	 	MARINEMAX OF LAS VEGAS, INC., a Delaware corporation,

	 	11.	 	MARINEMAX OF NORTH CAROLINA, INC., a North Carolina corporation,

	 	12.	 	MARINEMAX OF OHIO, INC., a Delaware corporation,

	 	13.	 	MARINEMAX OF UTAH, INC., a Delaware corporation,

	 	14.	 	MARINEMAX TX, L.P., a Texas limited partnership,

	 	15.	 	MARINEMAX OF GEORGIA, INC., a Georgia corporation,

	 	16.	 	BASSETT BOAT COMPANY, a Florida corporation,

	 	17.	 	BASSETT REALTY, L.L.C., a Delaware limited liability company,

	 	18.	 	C & N MARINE REALTY, L.L.C., a Delaware limited liability company,

	 	19.	 	GULFWIND SOUTH REALTY, L.L.C., a Delaware limited liability company,

	 	20.	 	HARRISON’S REALTY, L.L.C., a Delaware limited liability company,

	 	21.	 	HARRISON’S REALTY CALIFORNIA, L.L.C., a Delaware limited liability company,

	 	22.	 	MARINA DRIVE REALTY I, L.L.C., a Delaware limited liability company,

	 	23.	 	MARINA DRIVE REALTY II, L.L.C., a Delaware limited liability company,

	 	24.	 	WALKER MARINA REALTY, L.L.C., a Delaware limited liability company,

	 	25.	 	DUMAS GP, L.L.C., a Delaware limited liability company,

	 	26.	 	MARINEMAX NEW JERSEY GP, INC., a Delaware corporation,

	 	27.	 	MARINEMAX NJ PARTNERS, INC., a Delaware corporation,

	 	28.	 	MARINEMAX OF NEW JERSEY HOLDINGS, INC., a Delaware corporation,

	 	29.	 	MMX GP, LLC, a Delaware limited liability company,

	 	30.	 	MMX HOLDINGS, LLC, a Delaware limited liability company,

	 	31.	 	MMX INTERESTS, LLC, a Delaware limited liability company,

	 	32.	 	MMX MEMBER, INC., a Delaware corporation,

	 	33.	 	MMX PARTNERS, INC., a Delaware corporation,

	 	34.	 	MMX VENTURES, LP, a Delaware limited partnership,

	 	35.	 	11502 DUMAS, INC., a Nevada corporation,

	 	36.	 	DUMAS GP, INC., a Nevada corporation,

	 	37.	 	NEWCOAST FINANCIAL SERVICES, INC., a Delaware corporation,

	 	38.	 	MARINEMAX SERVICES, INC., a Delaware corporation,

	 	39.	 	MARINEMAX U.S.A., INC., a Nevada corporation,

	 	40.	 	DELAWARE AVLEASE, LLC, a Delaware limited liability company,

	 	41.	 	MARINEMAX OF COLORADO, INC., a Delaware corporation,

	 	42.	 	MARINEMAX INTERNATIONAL, LLC, a Delaware limited liability company, and

	 	43.	 	BOATING GEAR CENTER, INC., a Delaware corporation

	 	44.	 	MARINEMAX OF MISSOURI, INC., a Delaware corporation

	 	45.	 	MARINEMAX OF NEW YORK, INC., a Delaware corporation

4EX-10.1

EXHIBIT 10.1

EMPLOYMENT AGREEMENT

AGREEMENT, dated as of February 16, 2006, by and between Exide Technologies (the “Company”)
and Francis M. Corby, Jr. (“Executive”).

IN CONSIDERATION of the premises and the mutual covenants set forth below, the parties hereby
agree as follows:

1. Employment. The Company hereby agrees to employ Executive as the Chief Financial
Officer (the “CFO”) and Executive Vice President of the Company, and Executive hereby accepts such
employment, on the terms and conditions hereinafter set forth.

2. Term. The period of employment of Executive by the Company under this Agreement
(the “Employment Period”) shall commence on March 1, 2006 (the “Commencement Date”) and shall
continue through March 31, 2008.

3. Position and Duties. During the Employment Period, Executive shall serve as CFO and
Executive Vice President and shall report directly to the Chief Executive Officer of the Company
(the “CEO”). Executive shall have those powers and duties normally associated with the position of
CFO and Executive Vice President of entities comparable to the Company and such other powers and
duties as may be prescribed by the CEO; provided that, such other powers and duties
are consistent with Executive’s position as CFO and Executive Vice President and do not violate any
applicable laws or regulations. Executive shall devote all of his working time, attention and
energies to the performance of his duties for the Company; provided, however, that Executive may
continue, if he so desires, to serve as a non-executive Chairman, and Director of Magnasphere
Corporation (and may serve as a director of such other entities as the Company’s Board may
approve), but only to the extent that such service does not materially interfere with his duties
hereunder. The Company recognizes that Executive made commitments to be present in Naples, Florida
and Milwaukee, WI, at certain times in March and April 2006, and that Executive’s fulfillment of
those commitments will not constitute a violation of this Agreement.

4. Place of Performance and Relocation Expenses. The place of employment of Executive
shall be at the Company’s principal executive offices in Atlanta, Georgia, although Executive
acknowledges that he shall be required to travel on Company business regularly during the
Employment Period. The Company shall, in accordance with its relocation policy, reimburse Executive
for all reasonable expenses incurred in relocating himself (1) to Atlanta from Detroit and (2) upon
a termination Without Cause, resignation with Good Reason, or termination at the end of the
Employment Period, from Atlanta to any U.S. location (both (1) and (2) excluding commissions,
taxes, and other costs associated with the sale of real estate, but including any reasonable lease
termination costs). The Company shall reimburse Executive for reasonable airfare and related costs
associated with Executive’s relocation and prior travel commitments referenced in Section 3 above.

5. Compensation and Related Matters.

(a) Base Salary. During the Employment Period, the Company shall pay Executive a base
salary at the rate of not less than $400,000 per year in the first year of the Employment Period,
and $450,000 in the second year of the Employment Period (together “Base Salary”). Executive’s Base
Salary shall be paid in accordance with the Company’s customary payroll practices. The CEO shall
periodically review Executive’s Base Salary for increase (but not decrease), consistent with the
compensation practices and guidelines of the Company.

(b) Bonuses. The Company shall pay Executive a bonus within 10 days of the
Commencement Date (the “Signing Bonus”) of $150,000, provided that Executive shall repay to the
Company the full amount of such Signing Bonus if he terminates his employment without Good Reason
within 6 months of the Commencement Date.

During each fiscal year of the Company which occurs during the Employment Period, Executive
shall be eligible for an annual performance bonus (the “Bonus”), dependent upon the achievement of
pre-established performance goals established by the Compensation Committee of the Board (the
“Compensation Committee”). The performance goals established by the Compensation Committee shall
be reasonable and shall be consistent with the goals established by the Board for incentive
purposes for the Chief Executive Officer. Executive’s target Bonus (“Target Bonus”) shall be 50%
of Base Salary in the 2007 fiscal year (April 1, 2006 through March 31, 2007) of the Employment
Period and 100% of Base Salary in the 2008 fiscal year (April 1, 2007 through March 31, 2008) of
the Employment Period, and may be greater if justified by performance in excess of the
pre-established performance goals. Executive shall receive at least $75,000 of the Bonus he is
eligible for in the 2007 fiscal year of the Employment Period, paid at such time as the Company
customarily pays annual bonuses subject to compliance with Paragraph 25 of this Agreement. For the
2006 fiscal year (April 1, 2005 through March 31, 2006), Executive shall be paid a performance
bonus in the amount of $16,666.67.

Executive shall be eligible for such additional discretionary bonuses as may be determined by
the CEO and the Board.

Any Bonus earned with respect to a fiscal year shall be paid at such time as the Company
customarily pays annual bonuses subject to compliance with Paragraph 25 of this Agreement.

(c) Expenses. The Company shall promptly reimburse Executive for all reasonable
business expenses upon the presentation of reasonably itemized statements of such expenses in
accordance with the Company’s policies and procedures now in force or as such policies and
procedures may be modified with respect to all senior executive officers of the Company.

(d) Vacation. During the Employment Period, Executive shall be entitled to at least
four (4) weeks of paid vacation per year to be used and accrued in accordance with the Company’s
policy as it may be established from time to time. In addition to vacation, Executive shall be
entitled to the number of sick days, personal days and national holidays per year to which other
senior executive officers of the Company with similar tenure are entitled under the Company’s
policies.

(e) Welfare, Pension and Incentive Benefit Plans and Perquisites. During the
Employment Period, Executive shall be entitled to participate in such employee benefit plans
offered by the Company, or which it may adopt from time to time, for its senior executives, in
accordance with the eligibility requirements for participation therein, including, without
limitation, the Company’s automobile policy and relocation allowance policy. Executive is
currently entitled to a $950 per month allowance under the Company’s automobile policy.

During any waiting period during which Executive is not eligible or able to participate in the
Company’s health benefit plan, the Company shall reimburse Executive for any COBRA premiums paid by
Executive for purposes of continuing his and/or his family’s participation in a former employer’s
plan.

(f) Equity/Long Term Awards.

(i) Upon the Commencement Date or as soon as administratively possible thereafter,
Executive shall be granted a non-qualified stock option to acquire shares of the
Company’s common stock (“Option”) worth $200,000 at a per share exercise price equal
to the fair market value of one share of the Company’s common stock on the date of
grant. Executive’s Options shall vest at the rate of 100% of the shares subject to
the grant on the second anniversary of the date of grant or the end of the
Employment Period, whichever is earlier; provided, that, if
Executive is terminated Without Cause, or resigns with Good Reason, all such Options
will immediately vest and shall remain outstanding for 90 days; and provided, that,
if Executive is terminated for Cause or terminates his employment for any reason,
other than Good Reason, all such Options shall be forfeited.

(ii) Upon the Commencement Date or as soon as administratively possible thereafter,
Executive shall be granted $150,000 worth of shares of the Company’s common stock
subject to certain restrictions (the “Restricted Stock”). The restrictions shall be
that the Restricted Stock may not be transferred, disposed of or sold during the
restricted period and shall be forfeited to the Company upon Executive’s termination
of employment prior to the restrictions lapsing. The Restricted Stock shall vest
100% of the shares subject to the award on the second anniversary of the date of
grant or the end of the Employment Period, whichever is earlier; provided,
that, if Executive is terminated Without Cause, or resigns with Good Reason,
all restrictions will immediately lapse; and provided, that, if Executive is
terminated for Cause or terminates his employment for any reason, other than Good
Reason, all shares of Restricted Stock will be forfeited.

(iii) The terms and conditions of the equity awards contemplated under this Section
5(f) of this Agreement shall be made consistent with Company policy and this
Agreement.

(iv) During the Employment Period, Executive shall be eligible to receive other
equity-based awards as may be determined by the Board in its sole discretion.

(v) At the end of the Employment Period Executive will be paid a bonus equal to
$150,000 so long as Executive has not been terminated with Cause or terminated his
employment for any reason, other than Good Reason prior to the end of the Employment
Period.

6. Termination. Executive’s employment hereunder may be terminated during the
Employment Period under the following circumstances:

(a) Death. Executive’s employment hereunder shall terminate upon his death.

(b) Disability. If, as a result of Executive’s incapacity due to physical or mental
illness, Executive shall have been substantially unable to perform his duties, with or without
reasonable accommodation, hereunder for an entire period of three (3) consecutive months, and
within thirty (30) days after written Notice of Termination is given after such three (3) month
period, Executive shall not have returned to the substantial performance of his duties on a
full-time basis, the Company shall have the right to terminate Executive’s employment hereunder for
“Disability”, and such termination in and of itself shall not be, nor shall it be deemed to be, a
breach of this Agreement.

(c) Cause. The Company shall have the right to terminate Executive’s employment for
Cause, and such termination in and of itself shall not be, nor shall it be deemed to be, a breach
of this Agreement. For purposes of this Agreement, the Company shall have “Cause” to terminate
Executive’s employment upon Executive’s (i) willful and continued failure to substantially perform
his duties with the Company (other than any such failure resulting from his incapacity due to
physical or mental illness) or to comply with the reasonable policies of the Company as written or
at the direction of the Board, together with Executive’s failure to take reasonable steps to cure
such condition within thirty (30) days after written notice thereof, (ii) an act or omission that
constitutes willful misconduct, gross negligence or fraud, (iii) non de minimus misappropriation,
embezzlement, or dishonesty with respect to his duties with the Company or (iv) conviction or
entering a plea of “guilty” or “no contest” to a felony.

(d) Good Reason. Executive may terminate his employment for Good Reason within thirty
(30) days following his knowledge of any of the following events which is not cured by the Company,
if curable, within fifteen (15) days following Executive’s written notice to the Board. For
purposes of this Agreement, “Good Reason” shall mean: (i) a material adverse change in Executive’s
title, role, or responsibilities, (ii) a reduction in the then applicable Base Salary or other
fixed compensation or failure to pay or provide compensation, bonus or benefits provided in this
Agreement within thirty (30) days when due, (iii) a requirement that Executive report to anyone
other than the CEO, or (iv) a material adverse change in any pension, medical, health, savings,
life insurance, or accident or disability plan, except for changes affecting all senior executives.

(e) Without Cause. The Company shall have the right to terminate Executive’s
employment hereunder without Cause at any time, upon thirty (30) days’ advance notice, by providing
Executive with a Notice of Termination and such termination shall not in and of itself be, nor
shall it be deemed to be, a breach of this Agreement.

(f) Without Good Reason. Executive shall have the right to terminate his employment
hereunder without Good Reason by providing the Company with a Notice of Termination at least thirty
(30) days prior to such termination, and such termination shall not in and of itself be, nor shall
it be deemed to be, a breach of this Agreement.

(g) Expiration of the Employment Period. Executive’s employment shall terminate upon
expiration of the Employment Period, unless the Company notifies Executive at least sixty (60) days
before the end of the Employment Period that it intends to renew or extend this Agreement, and such
termination shall not be a breach of this Agreement.

7. Termination Procedure.

(a) Notice of Termination. Any termination of Executive’s employment by the Company or
by Executive during the Employment Period (other than termination pursuant to Section 6(a)) shall
be communicated by written Notice of Termination to the other party hereto in accordance with
Section 12. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which
shall indicate the specific termination provision in this Agreement relied upon and shall set forth
in reasonable detail the facts and circumstances claimed to provide a basis for termination of
Executive’s employment under the provision so indicated.

(b) Date of Termination. “Date of Termination” shall mean (i) if Executive’s
employment is terminated by his death, the date of his death, (ii) if Executive’s employment is
terminated pursuant to Section 6(b), thirty (30) days after Notice of Termination (provided that
Executive shall not have returned to the substantial performance of his duties on a full-time basis
during such thirty (30) day period), and (iii) if Executive’s employment is terminated for any
other reason, the date on which a Notice of Termination is given or any later date (within ninety
(90) days after the giving of such notice which date shall be at least thirty days after the date
of notice if the termination is made pursuant to Section 6(e) or Section 6(f)) set forth in such
Notice of Termination; provided, that, if applicable, the Notice of Termination
shall not be effective until the cure period has expired and such event or events leading to such
termination have not yet been cured.

8. Compensation Upon Termination or During Disability. In the event Executive is
disabled or his employment terminates during the Employment Period, the Company shall provide
Executive with the payments set forth below, and Executive shall not be entitled to any additional
severance payments or benefits from the Company. As a condition of receiving any payments under
Subsections 8(a)(ii), (iii) and (v) and the bonus (but not the Accrued Obligations) in Subsection
8(c)(i), Executive may be required to execute a general release of claims (but not any
indemnification rights then held by Executive) in favor of the Company and any entity in control
of, controlled by or under common control with the Company and their respective employees,
directors, and officers in such form as the Board deems reasonably appropriate. Provided that the
general release is promptly presented to Executive, the payments due to Executive under Sections
8(a) and (c) of this Agreement may be held by the Company and not delivered to the Executive until
the eighth (8th) day following the date Executive executes and delivers to the Company such general
release of claims; and provided, that, such release is not revoked by
Executive after he delivers it to the Company.

Upon Executive’s termination of employment for any reason, upon the request of the Board, he
shall resign as an officer and director of the Company or any of its Affiliates.

(a) Termination By Company without Cause or By Executive for Good Reason. If
Executive’s employment is terminated by the Company without Cause or by Executive for Good Reason:

(i) The Company shall pay to Executive his earned, but yet unpaid Base Salary
through the Date of Termination, any earned, but unpaid Bonus for the year prior to
the year in which the Date of Termination occurs and any earned, but unpaid vacation
pay within five (5) business days following the Date of Termination (the “Accrued
Obligations”); and

(ii) The Company shall pay to Executive the Bonus(es) that would have been paid to
Executive had he remained employed through the end of the Employment Period and had
earned 100% of the target amount of such Bonus(es) at the time such Bonus(es) are
customarily paid; and

(iii) The Company shall pay to Executive a lump sum payment equal to the Salary that
would have been paid to Executive had he remained employed through the end of the
Employment Period; and

(iv) the Company shall reimburse Executive pursuant to Section 5 for reasonable
expenses incurred, but not paid prior to such termination of employment; and

(v) the Company shall pay Executive’s COBRA premiums (less amounts Executive paid
for group coverage prior to termination) until the end of the Employment Period; and

(vi) Executive shall be entitled to any other rights, compensation and/or benefits
as may be due to Executive in accordance with the terms and provisions of any
agreements, plans or programs of the Company; and

(vii) Executive shall receive no further benefits or compensation, except as
required by this Agreement or by law.

(viii) For purposes of determining the amounts to be paid to Executive pursuant to
this Section 8(a), no reduction of or change to Base Salary, Bonus or benefits which
would constitute Good Reason under Section 7(d) shall be taken into account,
regardless of the reason for the termination giving rise to Executive’s right to be
paid, and the Company’s obligation to pay, the amounts required under Section 8(a).

(b) Termination By Company for Cause, By Executive Without Good Reason or Expiration of
Employment Period. If Executive’s employment is terminated by the Company for Cause or by
Executive (other than for Good Reason) or upon expiration of the Employment Period:

(i) the Company shall pay Executive the Accrued Obligations; and

(ii) the Company shall reimburse Executive pursuant to Section 5 for reasonable
expenses incurred, but not paid prior to such termination of employment; and

(iii) Executive shall be entitled to any other rights, compensation and/or benefits
as may be due to Executive in accordance with the terms and provisions of any
agreements, plans or programs of the Company; and

(iv) Executive shall receive no further benefits or compensation, except as required
by this Agreement or by law.

(c) Disability. During any period that Executive fails to perform his duties hereunder
as a result of incapacity due to physical or mental illness (“Disability Period”), Executive shall
be paid his Base Salary through the Date of Termination, off-set by any disability insurance. Upon
the Date of Termination under this clause (c), the Company shall:

(i) pay Executive the Accrued Obligations and any Bonus earned pro rata through the
Date of Termination; and

(ii) reimburse Executive pursuant to Section 5 for reasonable expenses incurred, but
not paid prior to such termination of employment; and

(iii) Executive shall be entitled to any other rights, compensation and/or benefits
as may be due to Executive in accordance with the terms and provisions of any
agreements, plans or programs of the Company; and

(iv) Executive shall receive no further benefits or compensation, except as required
by this Agreement or by law.

(d) Death. If Executive’s employment is terminated by his death:

(i) the Company shall pay Executive’s beneficiary, legal representatives or estate,
as the case may be, Executive’s Accrued Obligations and any Bonus earned pro-rata
through the date of his death; and

(ii) the Company shall reimburse Executive’s beneficiary, legal representatives, or
estate, as the case may be, pursuant to Section 5 for reasonable expenses incurred,
but not paid prior to such termination of employment; and

(iii) Executive’s beneficiary, legal representatives or estate, as the case may be,
shall be entitled to any other rights, compensation and benefits as may be due to
any such persons or estate in accordance with the terms and provisions of any
agreements, plans or programs of the Company; and

(iv) Executive shall receive no further benefits or compensation, except as required
by this Agreement or by law.

9. Restrictive Covenants.

(a) Acknowledgments. Executive acknowledges that: (i) as a result of Executive’s
employment by the Company, Executive has obtained and will obtain Confidential Information (as
defined below); (ii) the Confidential Information has been developed and created by the Company and
its Affiliates at substantial expense, and the Confidential Information constitutes valuable
proprietary assets; (iii) the Company and its Affiliates will suffer substantial damage and
irreparable harm which will be difficult to compute if, during the Employment Period and
thereafter, Executive should enter a Competitive Business (as defined herein) in violation of the
provisions of this Agreement; (iv) the nature of the Company’s and its Affiliate’s business is such
that it could be conducted anywhere in the world and that it is not limited to a geographic scope
or region; (v) the Company and its Affiliates will suffer substantial damage which will be
difficult to compute if, during the term of employment or thereafter, Executive should solicit or
interfere with the Company’s and its Affiliate’s employees, clients or customers or should divulge
Confidential Information relating to the business of the Company and its Affiliates; (vi) the
provisions of this Agreement are reasonable and necessary for the protection of the business of the
Company and its Affiliates; (vi) the Company would not have hired or continued to employ Executive
or grant the Options and other benefits contemplated under Agreement unless he agreed to be bound
by the terms hereof; and (vii) the provisions of this Agreement will not preclude Executive from
other gainful employment. “Competitive Business” as used in this Agreement shall mean any business
which competes, directly or indirectly, with any aspect of the Company’s business. “Confidential
Information” as used in this Agreement shall mean any and all confidential and/or proprietary
knowledge, data, or information of the Company or any Affiliate, including, without limitation,
any: (A) trade secrets, drawings, inventions, methodologies, mask works, ideas, processes,
formulas, source and object codes, data, programs, software source documents, works of authorship,
know-how, improvements, discoveries, developments, designs and techniques, and all other work
product of the Company or any Affiliate, whether or not patentable or registrable under trademark,
copyright, patent or similar laws; (B) information regarding plans for research, development, new
service offerings and/or products, marketing, advertising and selling, distribution, business
plans, business forecasts, budgets and unpublished financial statements, licenses, prices and
costs, suppliers, customers or distribution arrangements; (C) any information regarding the skills
and compensation of employees, suppliers, agents, and/or independent contractors of the Company or
any Affiliate; (D) concepts and ideas relating to the development and distribution of content in
any medium or to the current, future and proposed products or services of the Company or any
Affiliate; or (E) any other information, data or the like that is labeled confidential or orally
disclosed to Executive as confidential.

(b) Confidentiality. In consideration of the benefits provided for in this Agreement,
Executive agrees not to, at any time, either during the Employment Period or thereafter, divulge,
use, publish or in any other manner disclose, directly or indirectly, to any person, firm,
corporation or any other form of business organization or arrangement and keep in the strictest
confidence any Confidential Information, except (i) as may be necessary to the performance of
Executive’s duties hereunder, (ii) with the Company’s express written consent, (iii) to the extent
that any such information is in or becomes in the public domain other than as a result of
Executive’s breach of any of obligations hereunder, or (iv) where required to be disclosed by court
order, subpoena or other government process and in such event, Executive shall cooperate with the
Company in attempting to keep such information confidential. Upon termination, Executive agrees to
promptly deliver to the Company the originals and all copies, in whatever medium, of all such
Confidential Information.

(c) Non-Compete. In consideration of the benefits provided for in this Agreement,
Executive covenants and agrees that during his employment and for a period of one year following
the termination of his employment for whatever reason (the “Restricted Period”), he will not, for
himself, or in conjunction with any other person, firm, partnership, corporation or other form of
business organization or arrangement (whether as a shareholder, partner, member, principal, agent,
lender, director, officer, manager, trustee, representative, employee or consultant), directly or
indirectly, be employed by, provide services to, in any way be connected, associated or have any
interest in, or give advice or consultation to any Competitive Business with the Company or any of
its Affiliates, in a capacity which is materially in competition with the Company, without the
Company’s prior written consent. Should Executive be found, by a court of competent jurisdiction,
to have breached his non-compete obligation, the Restricted Period shall be extended for the term
of the breach as found by the Court.

(d) Non-Solicitation of Employees. In consideration of the benefits provided for in
this Agreement, Executive covenants and agrees that during the Restricted Period, Executive shall
not directly or indirectly attempt to solicit, employ or retain, or have or cause any other person
or entity to solicit, employ or retain, any person who is employed or is providing services to the
Company and its Affiliates at the time of his termination of employment or was or is providing such
services within the two year period before or after his termination of employment. Should
Executive be found, by a court of competent jurisdiction, to have breached his non-solicitation
obligation, the Restricted Period shall be extended for the term of the breach as found by the
Court.

(e) Non-Solicitation of Clients and Customers. In consideration of the benefits
provided for in this Agreement, Executive covenants and agrees that during the Restricted Period,
he will not, for himself, or in conjunction with any other person, firm, partnership, corporation
or other form of business organization or arrangement (whether as a shareholder, partner, member,
lender, principal, agent, director, officer, manager, trustee, representative, employee or
consultant), directly or indirectly: (i) solicit or accept any business that is directly related to
the business of the Company or its Affiliates, from any person or entity who, at the time of, or at
the time during the twelve months preceding such termination, was an existing or prospective
customer or client of the Company or its Affiliates; (ii) request or cause any of the Company’s or
its Affiliates’ clients or customers to cancel or terminate any business relationship with the
Company or its Affiliates involving services or activities which were directly or indirectly the
responsibility of Executive during his employment; or (iii) request or cause any employee of the
Company or its Affiliates to breach or threaten to breach any terms of said employee’s agreements
with the Company or its Affiliates or to terminate his or her employment with the Company or its
Affiliates.

(f) Post-Employment Property. The parties agree that any work of authorship,
invention, design, discovery, development, technique, improvement, source code, hardware, device,
data, apparatus, practice, process, method or other work product whatever (whether patentable or
subject to copyright, or not, and hereinafter collectively called “discovery”) related to training
or marketing methods and techniques that Executive, either solely or in collaboration with others,
has made or may make, discover, invent, develop, perfect, or reduce to practice during the term of
his employment, whether or not during regular business hours and created, conceived or prepared on
the Company’s or any Affiliates’ premises or otherwise shall be the sole and complete property of
the Company and/or its Affiliates and may not be used by Executive outside of the Company. More
particularly, and without limiting the foregoing, Executive agrees that all of the foregoing and
any (i) inventions (whether patentable or not, and without regard to whether any patent therefor is
ever sought), (ii) marks, names, or logos (whether or not registrable as trade or service marks,
and without regard to whether registration therefor is ever sought), (iii) works of authorship
(without regard to whether any claim of copyright therein is ever registered), and (iv) trade
secrets, ideas, and concepts ((i) — (iv) collectively, “Intellectual Property Products”) created,
conceived, or prepared on the Company’s or its Affiliates’ premises or otherwise, whether or not
during normal business hours, shall perpetually and throughout the world be the exclusive property
of the Company and/or its Affiliates, as the case may be, as shall all tangible media (including,
but not limited to, papers, computer media of all types, and models) in which such Intellectual
Property Products shall be recorded or otherwise fixed. Executive further agrees promptly to
disclose in writing and deliver to the Company all Intellectual Property Products created during
his engagement by the Company, whether or not during normal business hours. Executive agrees that
all works of authorship created by Executive during his engagement by the Company shall be works
made for hire of which the Company or its Affiliates is the author and owner of copyright. To the
extent that any competent decision-making authority should ever determine that any work of
authorship created by Executive during his engagement by the Company is not a work made for hire,
Executive hereby assigns all right, title and interest in the copyright therein, in perpetuity and
throughout the world, to the Company. To the extent that this Agreement does not otherwise serve to
grant or otherwise vest in the Company or its Affiliates all rights in any Intellectual Property
Product created by Executive during his engagement by the Company, Executive hereby assigns all
right, title and interest therein, in perpetuity and throughout the world, to the Company.
Executive agrees to execute, immediately upon the Company’s reasonable request and without charge,
any further assignments, applications, conveyances or other instruments, at any time after
execution of this Agreement, whether or not Executive is engaged by the Company at the time such
request is made, in order to permit the Company, its Affiliates and/or their respective assigns to
protect, perfect, register, record, maintain, or enhance their rights in any Intellectual Property
Product; provided, that, the Company shall bear the cost of any such assignments,
applications or consequences. Upon termination of Executive’s employment by the Company for any
reason whatsoever, and at any earlier time the Company so requests, Executive will immediately
deliver to the custody of the person designated by the Company all originals and copies of any
documents and other property of the Company in Executive’s possession, under Executive’s control or
to which he may have access.

(g) Enforcement. If Executive commits a breach, or threatens to commit a breach, of
any of the provisions of this Section 9, the Company shall have the right and remedy to have the
provisions specifically enforced by any court having jurisdiction, it being acknowledged and agreed
by Executive that the services being rendered hereunder to the Company are of a special, unique and
extraordinary character and that any such breach or threatened breach will cause irreparable injury
to the Company and that money damages will not provide an adequate remedy to the Company. Such
right and remedy shall be in addition to, and not in lieu of, any other rights and remedies
available to the Company at law or in equity. Should Executive breach his non-compete obligation,
the Company may cease payment of any COBRA premiums that it is paying on Executive’s behalf.

(h) Blue Pencil. If, at any time, the provisions of this Section 9 shall be determined
to be invalid or unenforceable under any applicable law, by reason of being vague or unreasonable
as to area, duration or scope of activity, this Agreement shall be considered divisible and shall
become and be immediately amended to only such area, duration and scope of activity as shall be
determined to be reasonable and enforceable by the court or other body having jurisdiction over the
matter, and Executive and the Company agree that this Agreement as so amended shall be valid and
binding as though any invalid or unenforceable provision had not been included herein.

(i) EXECUTIVE ACKNOWLEDGES THAT HE HAS CAREFULLY READ THIS SECTION 9 AND HAS HAD THE
OPPORTUNITY TO REVIEW ITS PROVISIONS WITH ANY ADVISORS AS HE CONSIDERED NECESSARY AND THAT
EXECUTIVE UNDERSTANDS THIS AGREEMENT’S CONTENTS AND SIGNIFIES SUCH UNDERSTANDING AND AGREEMENT BY
SIGNING BELOW.

10. Resolution of Differences Over Breaches of Agreement. The parties shall use good
faith efforts to resolve any controversy or claim arising out of, or relating to this Agreement or
the breach thereof, first in accordance with the Company’s internal review procedures, except that
this requirement shall not apply to any claim or dispute under or relating to Section 9 of this
Agreement. If despite their good faith efforts, the parties are unable to resolve such controversy
or claim through the Company’s internal review procedures, then such controversy or claim shall be
resolved by binding arbitration for resolution in Atlanta, Georgia in accordance with the rules and
procedures of the Employment Dispute Resolution Rules of the American Arbitration Association then
in effect. The decision of the arbitrator shall be final and binding on both parties, and any court
of competent jurisdiction may enter judgment upon the award. Each party shall pay its own expenses,
including legal fees, in such dispute. Each party shall share equally in the cost of the
arbitrator and the arbitration proceedings to the extent that such proceedings result from a
dispute regarding any contractual matter covered in this agreement or result from a dispute
concerning Executive’s performance or compliance (or noncompliance) with Company policy. To the
extent that any such proceedings arise from a dispute regarding an alleged violation of a statute,
the Company shall bear such costs, subject to the discretion of the arbitrator to equitably
allocate costs.

11. Successors; Binding Agreement. The rights and benefits of Executive hereunder
shall not be assignable, whether by voluntary or involuntary assignment or transfer by Executive.
This Agreement shall be binding upon, and inure to the benefit of, the successors and assigns of
the Company, and the heirs, executors and administrators of the Executive, and shall be assignable
by the Company to any entity acquiring substantially all of the assets of the Company, whether by
merger, consolidation, sale of assets or similar transactions.

12. Notice. For the purposes of this Agreement, notices, demands and all other
communications provided for in this Agreement shall be in writing and shall be deemed to have been
duly given when delivered either personally or by United States certified or registered mail,
return receipt requested, postage prepaid, addressed, in case of Executive, to the last address on
file with the Company and if to the Company, to its executive offices or to such other address as
any party may have furnished to the others in writing in accordance herewith, except that notices
of change of address shall be effective only upon receipt.

13. Governing Law. This Agreement is governed by, and is to be construed and enforced
in accordance with, the laws of Delaware without regard to principles of conflicts of laws. If,
under such law, any portion of this Agreement is at any time deemed to be in conflict with any
applicable statute, rule, regulation or ordinance, such portion shall be deemed to be modified or
altered to conform thereto or, if that is not possible, to be omitted from this Agreement, and the
invalidity of any such portion shall not affect the force, effect and validity of the remaining
portion hereof.

14. Amendment. No provisions of this Agreement may be amended, modified, or waived
unless such amendment or modification is agreed to in writing signed by Executive and by a duly
authorized officer of the Company, and such waiver is set forth in writing and signed by the party
to be charged. No waiver by either party hereto at any time of any breach by the other party hereto
of any condition or provision of this Agreement to be performed by such other party shall be deemed
a waiver of similar or dissimilar provisions or conditions at the same or at any prior or
subsequent time.

15. Survival. The respective obligations of, and benefits afforded to, Executive and
Company as provided in Sections 9 of this Agreement shall survive the termination of this
Agreement.

16. No Conflict of Interest. During the Employment Period, Executive shall not
directly, or indirectly render service, or undertake any employment or consulting agreement with
another entity without the express written consent of the Company, except as set forth in Section 3
hereof.

17. Counterparts. This Agreement may be executed in two or more-counterparts, each of
which shall be deemed to be an original but all of which together will constitute one and the same
instrument.

18. Entire Agreement. This Agreement sets forth the entire agreement of the parties
hereto in respect of the subject matter contained herein and supersedes all prior agreements,
promises, covenants, arrangements, communications, representations or warranties, whether oral or
written, by any officer, employee or representative of any party hereto in respect of such subject
matter. Any prior agreement of the parties hereto in respect of the subject matter contained herein
is hereby terminated and canceled as of the date hereof.

19. Section Headings. The section headings in this Agreement are for convenience of
reference only, and they form no part of this Agreement and shall not affect its interpretation.

20. Withholding. All payments hereunder shall be subject to any required withholding
of Federal, state and local taxes pursuant to any applicable law or regulation.

21. Representation. Executive represents and warrants to the Company, and Executive
acknowledges that the Company has relied on such representations and warranties in employing
Executive, that neither Executive’s duties as an employee of the Company nor his performance of
this Agreement will breach any other agreement to which Executive is a party, including without
limitation, any agreement limiting the use or disclosure of any information acquired by Executive
prior to his employment by the Company. In addition, Executive represents and warrants and
acknowledges that the Company has relied on such representations and warranties in employing
Executive, that he has not entered into, and will not enter into, any agreement, either oral or
written, in conflict herewith. If it is determined that Executive is in breach or has breached any
of the representations set forth herein, the Company shall have the right to terminate the
Executive’s employment for Cause.

22. Mitigation. Executive shall not be required to mitigate amounts payable under this
Agreement by seeking other employment or otherwise, and there shall be no offset against amounts
due Executive under this Agreement on account of subsequent employment except as specifically
provided herein.

23. Indemnification. The Company agrees that if Executive is made a party or
threatened to be made a party to any action, suit or proceeding, whether civil, criminal,
administrative or investigative (a “Proceeding”), by reason of the fact that Executive is or was a
director or officer of the Company or any subsidiary of the Company or is or was serving at the
request of the Company or any subsidiary as a director, officer, member, employee or agent of
another corporation or partnership, joint venture, trust or other enterprise, including, without
limitation, service with respect to employee benefit plans, whether or not the basis of such
Proceeding is alleged action in an official capacity as trustee, director, officer, member,
employee or agent while serving as a trustee, director, officer, member, employee or agent,
Executive shall be indemnified and held harmless by the Company to the fullest extent authorized by
the Company’s bylaws.

24. Negotiation Fees. The Company shall reimburse Executive for his reasonable legal
fees and expenses relating to the preparation and negotiation of this Agreement, but not to exceed
$25,000.

25. Section 409A. To the extent Executive would be subject to the additional 20% tax
imposed on certain deferred compensation arrangements pursuant to Section 409A of the Code, as a
result of any provision of this Agreement, such provision shall be deemed revised to the minimum
extent necessary to avoid application of such tax and the parties shall promptly execute any
amendment reasonably necessary to implement this Section 25 (provided that such revision and
amendment shall not provide for any reduction in the amount due or paid to Executive under said
provision). In the event that no such deemed revision is possible, the Company agrees to make
Executive “whole” on an after-tax basis so that Executive shall net the amount that he would have
netted had the tax under Section 409A not applied.

* * *

[Signature Page Next]

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above written.

EXIDE TECHNOLOGIES

/s/ Gordon A. Ulsh

	 	 	By:

Name: Gordon A. Ulsh

Title: President & Chief Executive Officer

Francis M. Corby, Jr.

/s/ Francis M. Corby, Jr.

Executive

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