Document:

Exhibit 10.1

 

RELEASE AGREEMENT

 

This Release Agreement (“Agreement”)
is entered into by and between Sysorex Global Holdings Corp. ("Sysorex") and William Frederick, an individual (“Employee”),
as of January 26, 2015, based upon the following:

 

RECITALS

 

Whereas, Sysorex and Employee wish to
memorialize their agreement regarding the termination of Employee’s employment with Sysorex and the consideration that is
to be transferred or paid to Employee in exchange for this Agreement; and

 

Whereas, Sysorex and Employee wish to
memorialize their agreement regarding Employee’s waiver and release of all rights and claims that he may have against Sysorex,
if any.

 

Now, therefore, in consideration of
the mutual covenants and promises contained herein and for other valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, Sysorex and Employee agree as follows:

 

AGREEMENT

 

1.         Incorporation
of Recitals. The recitals to this Agreement are an integral part of this Agreement and are hereby incorporated as a part
of this Agreement as if set forth in it.

 

2.         Payments
to Employee. In exchange for Employee’s release of Sysorex from any past, present and future obligations (if any),
whether monetary or otherwise, allegedly owed by Sysorex to Employee based upon Employee’s employment and the termination
thereof, Sysorex shall make the following payments (less standard employee withholdings) to Employee, in addition to the amount
referenced in Section 3 hereof and wages earned up to and including January 26, 2015: (a) $20,833.33 on the eighth (8th)
day after the execution of this Agreement; (b) $20,833.33 on the thirty-eighth (38th) day after the execution of this Agreement;
and (c) $20,833,333.33 on the sixty-eighth (68th) day after the execution of this Agreement. If any of the foregoing payments
come due on a weekend day or a company holiday, the payment will be made the following business day.

 

3.         Accrued
Vacation. Sysorex shall pay to Employee $4,687.50, which represents the amount owed to Employee for his unused, accrued
vacation time (less standard employee withholdings).

 

4.         Waiver
of All Claims. Employee agrees that he is not entitled to receive, will not claim and expressly waives any entitlement
to rights, benefits or compensation from Sysorex other than as expressly set forth in this Agreement.

 

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5.         Complete
Release by Employee.

 

(a)         Release.
Employee irrevocably and unconditionally releases all of the claims described in subsection (b) of this Section 5 that he
may now have against the following persons or entities (the “Releasees”): Sysorex, all of its past and present employees,
officers, directors, stockholders, owners, representatives, assigns, attorneys, agents, insurers, employee benefit programs (and
the trustees, administrators, fiduciaries and insurers of such programs) and any other persons acting by, through, under or in
concert with any of the persons or entities listed in this subsection.

 

(b)         Claims
Released. The claims released include all claims, promises, debts, causes of action or similar rights of any type or nature
Employee has or had which in any way relate to (i) Employee’s employment with Sysorex, or the termination of that employment,
such as claims for compensation, bonuses, commissions, lost wages or unused accrued vacation or sick pay, (ii) the design or administration
of any employee benefit program or Employee’s entitlement to benefits under any such program, (iii) any claims to attorneys’
fees and/or other legal costs and (iv) any other claims or demands Employee may, on any basis, have. The claims released include,
but are not limited to, claims arising under any of the following statutes or common law doctrines:

 

(i)         Anti-Discrimination
Statutes, such as the Age Discrimination in Employment Act, which prohibits age discrimination in employment; the Civil Rights
Act of 1991, Title VII of the Civil Rights Act of 1964, and §1981 of the Civil Rights Act of 1866, which prohibit discrimination
based on race, color, national origin, religion or sex; the Equal Pay Act, which prohibits paying men and women unequal pay for
equal work; the Americans With Disabilities Act, which prohibits discrimination against the disabled; the California Fair Employment
and Housing Act, which prohibits discrimination in employment based upon race, color, national origin, ancestry, physical or mental
disability, medical condition, marital status, sex, or age; and any other federal, state or local laws or regulations prohibiting
employment discrimination.

 

(ii)        Federal
Employment Statutes, such as the Employee Retirement Income Security Act of 1974, which, among other things, protects pension
or health plan benefits; and the Fair Labor Standards Act of 1938, which regulates wage and hour matters.

 

(iii)       Other
Laws, such as any federal, state or local laws restricting an employer’s right to terminate employees or otherwise regulating
employment; any federal, state or local law enforcing express or implied employment contracts or requiring an employer to deal
with employees fairly or in good faith; and any other federal, state or local laws providing recourse for alleged wrongful discharge,
physical or personal injury, emotional distress, fraud, negligent misrepresentation, libel, slander, defamation and similar or
related claims. The laws referred to in this paragraph include statutes, regulations, other administrative guidance and common
law doctrines.

 

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(c)         Release
Extends to Both Known and Unknown Claims. This release covers both claims that Employee knows about and those Employee does
not know about. Employee understands the significance of this release of unknown claims and his waiver of any statutory protection
against a release of unknown claims. Employee expressly waives the protection of any such governmental statutes or regulations.

 

More particularly, and without limitation,
Employee acknowledges that Employee has read and is familiar with and understands the provisions of Section 1542 of the California
Civil Code, which provides: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT
TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH, IF KNOWN TO HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT
WITH THE DEBTOR.”

 

EMPLOYEE EXPRESSLY WAIVES ANY RIGHT OR CLAIM
OF RIGHT EMPLOYEE MAY HAVE UNDER SECTION 1542 OF THE CALIFORNIA CIVIL CODE.

 

(d)         Ownership
of Claims. Employee represents that he has not assigned or transferred, or purported to assign or transfer, all or any part
of any claim released by this Agreement.

 

6.         Employee’s
Promises. In addition to the release of claims provided for in section 5, Employee promises never to file or prosecute
a lawsuit, arbitration, administrative complaint or charge, or other complaint or charge asserting any claims that are released
by this Agreement. Employee represents that he has not filed or caused to be filed any lawsuit, arbitration, complaint or charge
with respect to any claim this Agreement releases. Employee further agrees to request any government agency or other body assuming
jurisdiction of any complaint or charge relating to a released claim to withdraw from the matter or dismiss the matter with prejudice.

 

7.         Consequences
of Employee’s Violation of Promises. If Employee breaks any of the promises in this Agreement, such as, by way of
example and not by way of limitation, by filing or prosecuting a lawsuit, arbitration or charge based on claims that Employee
has released, or if any representation made by Employee in this Agreement was false when made, Employee will pay reasonable attorneys’
fees and all other costs incurred as a result of such breach or false representation, such as, by way of example and not by way
of limitation, Sysorex's cost of defending any suit brought with respect to a claim released by him.

 

8.         Consulting
with Attorney. Employee acknowledges that Sysorex has advised him to obtain the services of an attorney to review this
Agreement and to advise him regarding it. Employee acknowledges he has had ample opportunity to consult with an attorney prior
to executing this Agreement.

 

9.         Period
for Consideration of Agreement. Employee acknowledges that Employee was given a period of twenty-one (21) days to review
and consider this Agreement before signing it and has a seven (7) day period following its execution to revoke it. Employee further
acknowledges that: (1) Employee took advantage of this period to consider this Agreement before signing it; (2) Employee carefully
read this Agreement; and (3) Employee fully understands this Agreement and is entering into it voluntarily and without coercion
or duress.

 

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10.       Severability.
The provisions of this Agreement are severable. If any part of it is found to be unenforceable, all other provisions shall
remain fully valid and enforceable.

 

11.       Choice
of Laws. This Agreement shall be governed by the laws of the State of California. 

 

12.       Nature,
Effect and Interpretation of this Agreement.

 

(a)         Entire
Agreement. This is the entire Agreement between Employee and Sysorex; it may not be modified or cancelled in any manner except
by a writing signed by both Sysorex and Employee. Sysorex has made no promises or representations to Employee other than those
in this Agreement and Employee has made no promises or representations to Sysorex other than those in this Agreement. The headings
included in this Agreement are for convenience only and do not limit, alter, or affect the matters contained in this Agreement
or the paragraphs they encaption.

 

(b)         Employment
Agreement. On the eighth day following the execution of this Agreement, the Employment Agreement between Sysorex and Employee,
effective as of October 1, 2014 (the “Employment Agreement”), shall be deemed terminated and be of no further force
and effect, except that Sections 8 and 9 and the first two sentences of Section 12 of the Employment Agreement shall survive and
continue in effect. 

 

(c)         Successors
and Assigns. This Agreement shall bind both Sysorex's and Employee’s heirs, administrators, representatives, executors,
successors and assigns, and shall inure to the benefit of all Releasees and their respective heirs, administrators, representatives,
executors, successors and assigns.

 

(d)         Interpretation.
This Agreement shall be construed as a whole according to its fair meaning, and not strictly for or against any of the parties.
Unless the context indicates otherwise, the term “or” shall be deemed to include the term “and” and the
singular or plural number shall be deemed to include the other. Paragraph headings used in this Agreement are intended solely
for convenience of reference and shall not be used in the interpretation of any of this Agreement. It is acknowledged that neither
party shall be construed to be solely responsible for the drafting hereof, and therefore any ambiguity shall not be construed
against either party as the alleged draftsman of this Agreement.

 

(e)         Counterparts
and Emailed Signatures. For the convenience of the parties to this Agreement, this document may be executed by signatures
sent via email and in counterparts that shall together constitute the agreement of the parties as one and the same instrument.

 

(f)         Implementation.
Sysorex and Employee both agree that, without the receipt of further consideration, they will sign and deliver any documents
and do anything else that is necessary in the future to make the provisions of this Agreement effective.

 

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13.       Notices.
Unless otherwise specifically provided in this Agreement, all notices, demands, requests, consents, approvals or other communications
(collectively and severally called “Notices”) required or permitted to be given hereunder, or which are given with
respect to this Agreement, shall be in writing, and shall be given by: (1) personal delivery (which form of Notice shall be deemed
to have been given upon delivery), (2) by telegraph or by private airborne/overnight delivery service (which forms of Notice shall
be deemed to have been given upon confirmed delivery by the delivery agency), (3) by electronic or facsimile or telephonic transmission,
provided the receiving party has a compatible device or confirms receipt thereof (which forms of Notice shall be deemed delivered
upon confirmed transmission or confirmation of receipt), or (4) by mailing in the United States mail by registered or certified
mail, return receipt requested, postage prepaid (which forms of Notice shall be deemed to have been given upon the fifth (5th)
business day following the date mailed). Notices shall be addressed to the parties as follows:

  

	 	Employee:	
        Mr. William Frederick

        879 Poppy Court

        Sunnyvale, CA 94086

         

	 	Firm:	
        Sysorex Global Holdings Corp.

        2479 E. Bayshore Road, Suite 195

        Palo Alto, CA 94303

        Attn: Chief Executive Officer

 

 

14.         Arbitration.
Any controversies or claims arising out of or relating to this Agreement shall be fully and finally settled by arbitration
held in Palo Alto, California in accordance with the National Rules for the Resolution of Employment Disputes of the American
Arbitration Association then in effect (the "AAA Rules"), conducted by one arbitrator either mutually
agreed upon by Sysorex and Employee or chosen in accordance with the AAA Rules, except that the parties thereto shall have any
right to discovery as would be permitted by the California Rules of Civil Procedure for a period of 90 days following the commencement
of such arbitration and the arbitrator thereof shall resolve any dispute which arises in connection with such discovery. Notwithstanding
anything to the contrary in this Section 14, Sysorex may seek provisional injunctive relief from any court of competent jurisdiction
in aid of the arbitration, to prevent any award from being rendered ineffectual, or to enforce its rights under Section 8 and/or
9 of the Employment Agreement. Seeking such relief shall not result in a waiver of any right to compel arbitration.

 

15.         Representation
of Authority. Each party executing this Agreement on behalf of any party expressly represents and warrants that he or
she has authority to execute and thereby bind the party on behalf of whom he or she executes this Agreement to the terms of this
Agreement and agrees to indemnify and hold harmless each other party from any claim that such authority did not exist.

 

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Executed on January 30, 2015.

 

	 	“EMPLOYEE”
	 	 	 
	 	 	/s/ William Frederick
	 	 	William Frederick
	 	 	 
	 	“SYSOREX”
	 	 	 
	 	Sysorex Global Holdings Corp.
	 	 	 
	 	By:	/s/ Nadir Ali
	 	 	Nadir Ali

 

 

6EX-4.1

 Exhibit 4.1 
  

 
  

Computershare Trust Company, N.A. Voluntary Corporate Actions 250 Royall Street, Suite V 

Canton Massachusetts 02021 Georgeson Inc. Toll Free (866) 300-8594 

MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 

ADD 4 NNNNNN 
 ADD 5 
 NNNNNNNNN ADD 6 C 1234567890 J N T

 NNNNNN 
 Primary Subscription 12345678901234 Rights 

SIGNATURE GROUP HOLDINGS, INC. SUBSCRIPTION RIGHTS OFFERING 

THIS SUBSCRIPTION RIGHTS OFFERING EXPIRES AT 5:00 PM, NEW YORK CITY TIME, ON FEBRUARY 17, 2015 UNLESS THE EXERCISE PERIOD
IS EXTENDED (SUCH DATE AND TIME, AS IT MAY BE EXTENDED, THE “EXPIRATION DATE”). 
 Signature Group
Holdings, Inc. (the “Company”) has distributed to each holder of record of its common stock (each an “Eligible Holder”) at 5:00 p.m., New York City time on January 28, 2015 (the “Effective Date”), at no charge, one
nontransferable subscription right, for each share of common stock held as of the Effective Date, to purchase 0.562 shares of common stock of the Company at $5.64 per full share (the “Subscription Right”) pursuant to a rights offering (the
“Rights Offering”). Set forth above is the number of Subscription Rights evidenced by this Rights Certificate that you are entitled to exercise pursuant to such basic Subscription Rights. There is no minimum number of shares for which a
holder must subscribe. Each Subscription Right also entitles an Eligible Holder who fully exercises its basic Subscription Rights to subscribe, prior to the Expiration Date, for additional shares of common stock of the Company at an exercise price
of $5.64 per full share to the extent that any shares are not purchased by other Eligible Holders in the Rights Offering under their basic Subscription Rights as of the Expiration Date (the “Oversubscription Privilege”). Any fractional
shares of common stock resulting from the exercise of Subscription Rights will be rounded up to the nearest whole share of common stock. 
 The terms and conditions of the Rights Offering are set forth in the Company’s Prospectus Supplement dated January 29, 2015 forming part of the Company’s Registration
Statement on Form S-3 (as it may be amended or supplemented, the “Prospectus”). FOR A MORE COMPLETE DESCRIPTION OF THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING, PLEASE REFER TO THE PROSPECTUS, WHICH IS INCORPORATED HEREIN BY REFERENCE.
COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM THE INFORMATION AGENT, GEORGESON, INC., AT 866-300-8594. 
 THE SUBSCRIPTION RIGHTS ARE NOT SEPARATELY TRANSFERABLE 
 The Subscription Rights attach to the common stock in respect of which they are issued and are not separately transferable. If you transfer your shares of common stock prior to the
Expiration Date without exercising the attached Subscription Rights, the transferee of such common stock will have the ability to exercise the Subscription Rights until the Expiration Date. You are advised that if you transfer the shares of common
stock to which these Subscription Rights attach, the transferee of such shares may not receive a new Rights Certificate in sufficient time to exercise the remaining Subscription Rights evidenced thereby. 

RIGHTS OFFERING CONDITIONS AND LIMITATIONS 
 As more fully described in the Prospectus, issuance of shares in the Rights Offering is subject to the Company’s closing of an acquisition. Shares purchased pursuant to the Rights
Offering will be issued by the subscription agent as soon as practicable following the Expiration Date and closing of such acquisition. The number of shares which you may subscribe for under the Subscription Rights and Oversubscription Privilege may
be limited by certain tax benefit-related percentage ownership limitations of the Company as provided on the reverse side of this Rights Certificate under “Escrow Protection Mechanics” and as set forth in the Prospectus. Your participation
in the Rights Offering is strictly conditioned upon your compliance with these Escrow Protection Mechanics. See the Prospectus for further information regarding Section 382 of the Internal Revenue Code and the Company’s Tax Benefit
Preservation Provision under its Bylaws. 
 METHOD OF EXERCISE OF RIGHTS 

IN ORDER TO EXERCISE YOUR SUBSCRIPTION RIGHTS, YOU MUST PROPERLY COMPLETE AND SIGN THIS RIGHTS CERTIFICATE ON THE BACK AND
RETURN IT IN THE ENVELOPE PROVIDED TO COMPUTERSHARE TRUST COMPANY, N.A., TOGETHER WITH PAYMENT IN FULL FOR AN AMOUNT EQUAL TO THE APPLICABLE EXERCISE 
 PRICE MULTIPLIED BY THE TOTAL NUMBER OF SHARES OF COMMON STOCK THAT YOU ARE REQUESTING TO PURCHASE UNDER THE BASIC SUBSCRIPTION RIGHTS AND OVERSUBSCRIPTION PRIVILEGE TO THE RIGHTS AGENT,
COMPUTERSHARE TRUST COMPANY, N.A., BEFORE 5:00 PM, NEW YORK CITY TIME ON THE EXPIRATION DATE. 
 You must
exercise the basic Subscription Rights in full to be eligible for the Oversubscription Privilege. If the aggregate exercise price for the Subscription Rights you deliver with the exercise of this Rights Certificate exceeds the aggregate subscription
price for all shares for which you would be entitled to subscribe pursuant to your basic Subscription Rights and you provide no direction as to the excess funds, you will be deemed to have subscribed for that number of additional shares equal to the
maximum whole number of shares that could be purchased with such excess subscription price. In all other events, any excess subscription payments received by the rights agent will be returned, without interest or penalty, as soon as practicable
after the Expiration Date. 
 Holder ID COY Class Rights Qty Issued Rights Cert # 

123456789 XXXX Subscription Rights XXX.XXXXXX 12345678 
  
 Signature of Owner and U.S. Person for Tax Certification Signature of Co-Owner (if more than
one registered holder listed) Date (mm/dd/yyyy) 
 12345678 CLS XR T2 COYC 

 

 
  
 ESCROW
PROTECTION MECHANICS 
 In order to avoid an “ownership change’’ for federal income tax purposes,
the Company has implemented certain escrow protection mechanics which operate as follows: (1) by Subscription Rights, each holder will be deemed to have represented to the Company that such holder was not an owner, directly or indirectly, of
record or beneficially, or by application of attributions of Section 382 or the Company’s Tax Benefit Preservation Provision (as described in the Prospectus) of 4.9% or more of the Company’s outstanding common stock as of January 2015
(which is 849,850 or more shares); (2) if such exercise would result in such holder owning, directly or indirectly, more than 849,850 shares of the outstanding common stock, such must notify Georgeson, the Information Agent at
(866) 300-8594; (3) if requested, each holder will be required to provide the Company with additional information regarding the amount of stock that the holder owns; (4) the Company has the right to instruct the Rights Agent to hold
any subscription payments separately pending the Company’s determination of any ownership and (5) the Company has the right to instruct the Rights Agent to refuse to honor such holder’s exercise to the extent such exercise might, in
the Company’s sole and absolute discretion, in such holder owning 4.9% or more of the outstanding shares of common stock. The Company also has the right, in its sole and absolute discretion, to limit the exercise of Subscription including
instructing the Rights Agent to refuse to honor any exercise of Subscription Rights, by holders of 4.9% or more of the common stock or persons who would become a 4.9% holder the exercise of Subscription Rights. 

BY EXERCISING SUBSCRIPTION RIGHTS, YOU AGREE THAT THE ESCROW PROTECTION MECHANICS ARE VALID, BINDING AND ENFORCEABLE
AGAINST YOU. 
 You must pay the full exercise price for all shares of common stock you wish to purchase in U.S.
dollars by (1) certified check drawn upon a U.S. bank payable to the Rights Agent, (2) check drawn upon a U.S. bank or express money order payable to the Rights Agent, or (3) by personal check payable to the Rights Agent, in each case
in accordance with the instructions in the Prospectus (please note that uncertified checks may take as many as five business days to clear). Notwithstanding the foregoing, Eligible Holders who hold shares as a depository nominee must make all
payments by wire transfer of immediately available funds to the account maintained by the Rights Agent. 

Payments of the exercise price for the common stock will be held in an escrow account until the closing of the acquisition
described in the Prospectus, unless the Company withdraws or the Rights Offering. No interest will be paid to you on the funds you deposit with the Rights Agent. You will not receive any interest on the payments held by the Rights Agent before your
have been issued to you or your payment is returned to you, without interest, because your exercise has not been satisfied for any reason. 
 PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY 

SECTION 1: OFFERING INSTRUCTIONS (check the appropriate boxes) 

IF YOU WISH TO SUBSCRIBE FOR YOUR FULL ENTITLEMENT OF SUBSCRIPTION RIGHTS: 

I apply for ALL of my entitlement of new shares x 0.562 = x $5.64 = $
            pursuant to the basic Subscription Rights (no. of new shares) (per share) 
 EXAMPLE: If you own 1,000 shares of common stock, your basic Subscription Rights permit the purchase of 562 shares. [1,000 purchase rights x 0.562 = 562. Fractional shares are rounded up
to the nearest whole number.] 
 In addition, I apply for additional shares pursuant to the x $5.64 = $
            Oversubscription Privilege* (no. of additional shares) (per share) 
 IF YOU DO NOT WISH TO APPLY FOR YOUR FULL ENTITLEMENT OF SUBSCRIPTION RIGHTS: 
 I apply for x 0.562 = x $5.64 = $             (no. of subscription rights) (no. of new shares) (per share) 

Amount of check or money order enclosed $             

 IF YOU DO NOT WISH TO EXERCISE YOUR RIGHT TO SUBSCRIBE: 

Please disregard this mailing. 
 SECTION 2: SUBSCRIPTION AUTHORIZATION: 
 I
acknowledge that I have received the Prospectus for this offering of Subscription Rights and I hereby subscribe for the number of shares indicated above on the terms and conditions specified in the Prospectus relating to the basic Subscription
Rights and the Oversubscription Privilege in the Rights Offering. 
 Signature of Subscriber(s) 

(and address if different than that listed on this Rights Certificate) 

Telephone number (including area code) 
 * You can only participate in the Oversubscription Privilege if you have subscribed for your full entitlement of new shares pursuant to the basic Subscription Rights. 

Please complete all applicable information and return to: COMPUTERSHARE TRUST COMPANY, N.A. 

By First Class Mail: Computershare Trust Company, N.A., Corporate Actions Voluntary Offer, P.O. Box 43011, Providence, RI
02940-3011 
 By Express Mail or Overnight Delivery: Computershare Trust Company, N.A., Corporate Actions
Voluntary Offer, 250 Royall Street, Suite V, Canton, MA 02021 
 DELIVERY OF THIS SUBSCRIPTION CERTIFICATE TO AN
ADDRESS OTHER THAN AS SET FORTH ABOVE DOES NOT CONSTITUTE A VALID DELIVERY. Any questions regarding this Certificate and Rights Offering may be directed to toll free at (866) 300-8594.

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