Document:

exv10w25

Exhibit 10.25

AMERESCO, INC.

SUPPLEMENTAL NON-SOLICITATION AND NON-COMPETITION AGREEMENT

     In consideration of the opportunity granted to me to sell shares of common stock of Ameresco,
Inc. (the “Company”), in its initial underwritten public offering of common stock pursuant to a
registration statement under the Securities Act of 1933 (the “IPO”), and for other good and
valuable consideration, receipt of which is hereby acknowledged, I agree to the following:

     1. At-Will Employment. Except as otherwise set forth in any separate written
Employment Agreement between me and any Company entity, I understand and acknowledge that my
employment with the Company is on an “at-will” basis and may be terminated at any time, for any
reason, with or without cause, at the option of either the Company or myself. I acknowledge that
this Supplemental Non-Solicitation and Non-Competition Agreement (the “Agreement”) does not
constitute a contract of employment and does not imply that the Company will continue my employment
for any period of time.

     2. Non-Competition and Non-Solicitation.

	 	(a)	 	Subject to Section 2(c) below, I agree that I shall not during my employment with the
Company and shall not during the Non-Compete Period (as defined) after the termination or
cessation of such employment, either directly or indirectly on my own behalf or in
association with or on behalf of others:

	 	i.	 	engage in any business or enterprise (whether as owner, partner, officer,
director, employee, consultant, investor, lender or otherwise, except as the holder
of not more than 1% of the outstanding stock of a publicly-held company) that is
competitive with the Company’s business, including but not limited to any business
or enterprise that develops, manufactures, markets, or sells any product or renders
any service that competes with any product or service developed, manufactured,
marketed, sold or rendered, or planned to be developed, manufactured, marketed,
sold or rendered by the Company or any of its subsidiaries while I was employed by
the Company; or
	 
	 	ii.	 	directly or indirectly, solicit, entice or induce any employee of the Company
to leave the employ of the Company or solicit, entice or induce for employment
(whether as an advisor, consultant, independent contractor or otherwise) any person
who was an employee of the Company at the time of the termination or cessation of
my employment with the Company.

	 	(b)	 	“Non-Compete Period” means the period commencing upon the termination or cessation of
my employment with the Company and ending on the later of (i) six months after such
termination or cessation of employment and (ii) three (3) years after the closing of the
IPO.

 

 

	 	(c)	 	Notwithstanding anything to the contrary herein, I shall be bound by the provisions of
Section 2(a) following the termination or cessation of employment only if my termination or
cessation of employment is voluntary without Good Reason (as defined below) or involuntary for
Cause (as defined below).
	 
	 	(d)	 	The geographic scope of this Section 2 shall extend worldwide to anywhere the Company or any of
its subsidiaries: (i) is doing business at the time of termination or cessation of employment; (ii)
has done business during the six (6) months prior to the time of termination or cessation of
employment; or (iii) has plans to do business as published in any Company business plan at the time
of termination or cessation of employment.
	 
	 	(e)	 	For purposes of this Agreement, “Good Reason” shall mean that, without my written consent, the
occurrence after an Acquisition Event (as defined below) of any of the following circumstances
unless, in the case of paragraphs (ii) or (iii), such circumstances are fully corrected prior to
the date of termination specified in any notification of termination given in respect thereof:

	 	i.	 	any reduction in my annual base salary as in effect on the date of my employment by the
Company, or as the same may be increased from time to time;
	 
	 	ii.	 	the failure of the Company to continue in effect any material compensation or benefit
plan in which I participate immediately prior to the Acquisition Event, unless an
equitable arrangement (embodied in an ongoing substitute or alternative plan) has been
made with respect to such plan, or the failure by the Company to continue my participation
therein (or in such substitute or alternative plan) on a basis not materially less
favorable, both in terms of the amount of benefits provided and the level of my
participation relative to other participants, as existed at the time of the Acquisition
Event;
	 
	 	iii.	 	the failure by the Company to continue to provide me with benefits substantially
similar to those enjoyed by my under any of the Company’s life insurance, medical, health
and accident, or disability plans in which I was participating at the time of the
Acquisition Event, the taking of any action by the Company which would directly or
indirectly substantially reduce such benefits; and
	 
	 	iv.	 	any requirement by the Company or of any person in control of the
Company that the location at which I perform my principal duties for the Company be
changed to a new location outside a radius of 40 miles from the location at which I
perform my principal duties for the Company at the time of the Acquisition Event.

	 	(f)	 	For purposes of this Agreement, “Cause” shall mean (i) the willful and continued failure by me
to substantially perform my duties with the Company (other than

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	 	 	 	any such failure resulting from my incapacity due to physical or mental illness),
provided that a written demand for substantial performance has been delivered to me
by the Company specifically identifying the manner in which the Company believes
that I have not substantially performed my duties and I have not cured such failure
within 30 days after such demand, or (ii) I have willfully engaged in conduct which
is demonstrably and materially injurious to the Company, or (iii) I have materially
violated any provision of this Agreement or the express significant policies of the
Company, or (iv) I have at any time been convicted of a felony, a crime of moral
turpitude, or fraud. For purposes of this definition, no act or failure to act on
my part shall be deemed “willful” unless done or omitted to be done by me not in
good faith and without reasonable belief that such action or omission was in the
best interest of the Company.
	 
	 	(g)	 	For purposes of this Agreement, “Acquisition Event” shall mean (i) any merger or
consolidation of the Company which results in the voting securities of the Company
outstanding immediately prior thereto representing prior thereto representing immediately
thereafter (either by remaining outstanding or by being converted into voting securities of
the surviving or acquiring entity (the “Acquiror”)) less than a majority of the combined
voting power of the voting securities of the Company or the Acquiror outstanding
immediately after such merger or consolidation, (ii) the sale of all or substantially all
of the assets of the Company or (iii) the sale of shares of capital stock of the Company,
in a single transaction or series of related transactions, representing at least 80% of the
voting power of the outstanding securities of the Company.

     3. Equitable Remedies. I agree that the restrictions in this Agreement are necessary for the
protection of the business and goodwill of the Company. I further agree that it would be impossible
or inadequate to measure and calculate the Company’s damages from any breach of the covenants set
forth in Section 2 of this Agreement. Accordingly, I agree that if I breach any of such covenants,
the Company will have available, in addition to any other right or remedy available, the right to
obtain an injunction from a court of competent jurisdiction restraining such breach or threatened
breach and to specific performance of any such provision of this Agreement. I further agree that no
bond or other security shall be required in obtaining such equitable relief and I consent to the
issuance of such injunction and to the ordering of specific performance.

     4. Effective Date. This Agreement shall become effective only upon the closing of an IPO in
which I shall sell shares of common stock of the Company and shall not be of any force or effect
prior to any such closing.

     5. General Provisions.

	 	(a)	 	Limit on Obligations of Company. I understand that this Agreement does not create an
obligation on the Company or any other person or entity to continue my employment.

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	 	(b)	 	Waiver. The Company reserves the right, in its sole discretion, to waive any term or provision
of this agreement in such circumstances as the Company deems appropriate. Any waiver by the
Company of any provision or a breach of any provision of this Agreement shall not operate or be
construed as a waiver of any subsequent breach of such provision or any other provision.
	 
	 	(c)	 	Severability. I acknowledge that each provision herein shall be treated as a separate and
independent clause, and the unenforceability or invalidity of any one clause shall in no way
impair the enforceability of any of the other clauses in this Agreement.
	 
	 	(d)	 	Interpretation. I acknowledge that the type and periods of restriction imposed in the
provisions of this Agreement are fair and reasonable and are reasonably required for the
protection of the Company and the goodwill associated with the business of the Company. If one or
more of the provisions contained in this
Agreement shall for any reason be held to be excessively broad as to scope, time, activity
or subject so as to be unenforceable at law, I agree that such provision or provisions
should be interpreted by the appropriate judicial body by limiting and reducing it or
them, for such provision or provisions to be enforceable to the maximum extent allowed
under applicable law.
	 
	 	(e)	 	Survival. My obligations under this Agreement shall survive the termination of my employment
regardless of the manner of such termination and shall be binding upon my heirs, executors,
administrators and legal representatives.
	 
	 	(f)	 	Definition of the Company. The term “Company” in this Agreement shall include Ameresco, Inc.
and any of its parents, subsidiaries, divisions, subdivisions or affiliates.
	 
	 	(g)	 	Governing Law and Jurisdiction. This Agreement shall be governed by and interpreted in
accordance with laws of the Commonwealth of Massachusetts, without giving effect to any conflict of
laws provisions. Any action, suit or other legal proceeding which is commenced to resolve any
matter arising under or relating to any provision of this Agreement shall be commenced only in a
court of the Commonwealth of Massachusetts (or, if appropriate, a federal court located within
Massachusetts). The parties hereby consent to personal jurisdiction over them of any court sitting
in the Commonwealth of Massachusetts having jurisdiction over the subject matter of any lawsuit
arising out of, or pertaining to this Agreement. Accordingly, the parties agree that either of them
may commence and have resolved any legal action brought to enforce this Agreement, seek redress of
any alleged breach of this Agreement, and/or seek a declaration of rights and/or obligations under
this Agreement in the federal and state courts within the Commonwealth of Massachusetts.
	 
	 	(h)	 	Entire Agreement. This Agreement sets forth the entire agreement and understanding between the
Company and me relating to the subject matter herein; provided, however, that any Confidential
Information, Invention, Non-Solicitation

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	 	 	 	and Non-Competition Agreement, or similar agreement between me and the Company
shall remain in full force and effect and shall not be superceded in any respect by
this Agreement. No modification of or amendment to this Agreement, nor any waiver
of any rights under this Agreement, will be effective unless in writing signed by
the party to be charged. Any subsequent change or changes in my duties, salary or
compensation will not affect the validity or scope of this Agreement.
	 
	 	(i)	 	Successors and Assigns. This Agreement will be binding upon my heirs, executors,
administrators and other legal representatives, and will be for the benefit of the Company,
its successors, and its assigns. The Company shall have the right to assign this Agreement
to its successors and assigns, and all covenants and agreements hereunder shall inure to
the benefit of and be enforceable by said successors and assigns.
	 
	 	(j)	 	Headings. The headings of the sections of this Agreement are for convenience of
reference only and in no way define, limit or affect the scope of substance of any section
of this Agreement.

     I ACKNOWLEDGE THAT I HAVE CAREFULLY READ THIS AGREEMENT AND UNDERSTAND AND AGREE TO
ALL ITS PROVISIONS.

	 	 	 	 	 	 	 

	 

	 	Employee Signature:	 	 	 	 
	 

	 	Print Name:
	 	 

	 	 
	 

	 	Date:
	 	 

	 	 
	 

	 	 	 	 

	 	 

5exv10w26

Exhibit 10.26

AMERESCO, INC.

NON-SOLICITATION AND NON-COMPETITION AGREEMENT

This Non-Solicitation and Non-Competition Agreement is made the                      day of                     , 2010 by
and between Ameresco, Inc. (“Ameresco”) and                                          (“shareholder” or “I”).

     WHEREAS, in my capacity as a person holding shares of the common stock, or options to purchase
common stock, of Ameresco, I have been given an opportunity (to which I acknowledge I am not
otherwise entitled) to sell shares of common stock of Ameresco in its initial underwritten public
offering of common stock pursuant to a registration statement under the Securities Act of 1933 (the
“IPO”);

     WHEREAS, I am not required to sell shares of common stock I own or have the option to
purchase, and if I choose not to, I will not be required to enter into this Agreement;

     WHEREAS, I acknowledge that I will receive good and valuable consideration upon the sale in
the IPO of shares of common stock of Ameresco that I own or purchase pursuant to an option and I
understand that the execution and delivery of this Agreement is a condition precedent to my being
able to sell in the IPO shares of common stock of Ameresco I own or purchase pursuant to an option
as described herein;

     NOW, THEREFORE, in consideration of the foregoing, the parties intending to be legally bound,
hereby agree as follows:

	1.	 	Definition of the Company. The term “Company” in this Agreement shall include
Ameresco Canada, Inc. and any of its parents, subsidiaries, divisions, subdivisions or
affiliates, including Ameresco.
	 
	2.	 	Non-Solicitation.

	 	(a)	 	I agree that I shall not during the period commencing on the date of the closing of the IPO
(the “IPO Date”) and for a period ending on the third anniversary of the IPO Date, either
directly or indirectly on my own behalf or in association with or on behalf of others solicit,
entice or induce any employee of the Company to leave the employ of the Company or solicit,
entice or induce for employment (whether as an advisor, consultant, independent contractor or
otherwise) any person who was an employee of the Company on the IPO Date.
	 
	 	(b)	 	I agree that I shall not during the period commencing on the IPO Date and for a period
ending on the third anniversary of the IPO Date, either

 

 

	 	 	 	directly or indirectly on my own behalf or in association with or on behalf of others
solicit for a purpose which is competitive with the business carried on by Ameresco as at
the IPO Date, any Customer or Prospective Customer. For such purposes, (i) a Customer means
any person who, with my knowledge, has retained the Company’s services or purchased any
product from the Company at any time prior to the IPO Date, and (ii) a Prospective Customer
means any person who is not a Customer, but who I canvassed or solicited on behalf of the
Company for the purpose of providing services or selling products to such person and for
which a written proposal (including a proposal by email) in respect of such services or
products related to the business of Ameresco has been provided as at the IPO Date.
	 
	 	(c)	 	The geographic scope of this Section 5 shall extend worldwide to anywhere the Company or any
of its subsidiaries as at the IPO Date: is doing business, has done business or has plans to do
business.

	3.	 	Non-Competition.

	 	(a)	 	I agree that I shall not during the period commencing on the IPO Date and for a period
ending on the earlier of (i) the third anniversary of the IPO Date and (ii) the termination of
any employment of me by the Company if (A) involuntary other than for “Cause” as defined in
Section 3(d) or (B) voluntary for “Good Reason”, as defined in Section 3(c) hereafter), either
directly or indirectly on my own behalf or in association with or on behalf of others:

	 	(i)	 	engage in any business or enterprise (whether as owner, partner, officer, director,
employee, consultant, investor, lender or otherwise, except as the holder of not more than
1% of the outstanding stock of a publicly-held company) that is competitive with the
Company’s business as at the IPO Date, including but not limited to any business or
enterprise that develops, manufactures, markets, or sells any product or renders any service
that competes with any product or service developed, manufactured, marketed, sold or
rendered, or planned (as published in any Company business plan) to be developed,
manufactured, marketed, sold or rendered by the Company or any of its subsidiaries as at the
IPO Date;

	 	(b)	 	The geographic scope of this Section 3 shall extend worldwide to anywhere the Company: (i)
is doing business at the IPO Date; (ii) has done business during the six (6) months prior to the
IPO Date; or (iii) has plans to do business as published in any Company business plan at the IPO
Date.

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	 	(c)	 	“Good Reason” shall mean that, without an employee’s written consent, the occurrence after
an Acquisition Event (as such is defined below) of any of the following circumstances unless, in
the case of paragraphs (ii) or (iii), such circumstances are fully corrected prior to the date of
termination specified in any notification of termination given in respect thereof:

	 	i.	 	any reduction in the employee’s annual base salary as in effect on the date of his or her
employment by the Company, or as the same may be increased from time to time;
	 
	 	ii.	 	the failure of the Company to continue in effect any material compensation or benefit
plan in which such employee participates immediately prior to the Acquisition Event, unless
an equitable arrangement (embodied in an ongoing substitute or alternative plan) has been
made with respect to such plan, or the failure by the Company to continue such employee’s
participation therein (or in such substitute or alternative plan) on a basis not materially
less favorable, both in terms of the amount of benefits provided and the level of such
employee’s participation relative to other participants, as existed at the time of the
Acquisition Event;
	 
	 	iii.	 	the failure by the Company to continue to provide the employee with benefits
substantially similar to those enjoyed by such employee under any of the Company’s life
insurance, medical, health and accident, or disability plans in which such employee was
participating at the time of the Acquisition Event, the taking of any action by the Company
which would directly or indirectly substantially reduce such benefits; and
	 
	 	iv.	 	any requirement by the Company or of any person in control of the Company that the
location at which such employee perform his or her principal duties for the Company be changed
to a new location outside a radius of 40 miles from the location at which such employee
performs his or her principal duties for the Company at the time of the Acquisition Event.

	 	(d)	 	“Cause” shall mean (i) the willful and continued failure by me to substantially perform my
duties with the Company (other than any such failure resulting from an my incapacity due to
physical or mental illness), provided that a written demand for substantial performance has been
delivered to me by the Company specifically identifying the manner in which the Company believes
that I have not substantially performed my duties and I have not cured such failure within 30 days
after such demand, or (ii) I have willfully engaged in conduct which is demonstrably and

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	 	 	 	materially injurious to the Company, or (iii) I have materially violated any provision
of this Agreement or the express significant policies of the Company, (iv) I have at any
time been convicted of a crime which carries with it a penalty of incarceration, a crime of
moral turpitude, or fraud; or (v) any other reason which permits the Company to terminate my
employment without notice or pay in lieu thereof. For purposes of this definition, no act or
failure to act on my part shall be deemed “willful” unless done or omitted to be done by me
not in good faith and without reasonable belief that such action or omission was in the best
interest of the Company.
	 
	 	(e)	 	For purposes of this Agreement, “Acquisition Event” shall mean (i) any merger or
consolidation of Ameresco which results in the voting securities of Ameresco outstanding
immediately prior thereto representing prior thereto representing immediately thereafter (either
by remaining outstanding or by being converted into voting securities of the surviving or
acquiring entity (the “Acquiror”)) less than a majority of the combined voting power of the
voting securities of Ameresco or the Acquiror outstanding immediately after such merger or
consolidation, (ii) the sale of all or substantially all of the assets of Ameresco or (iii) the
sale of shares of capital stock of Ameresco, in a single transaction or series of related
transactions, representing at least 80% of the voting power of the outstanding securities of
Ameresco.

	4.	 	Equitable Remedies. I agree that the restrictions in this Agreement are necessary
for the protection of the business and goodwill of the Company. I further agree that it would
be impossible or inadequate to measure and calculate the Company’s damages from any breach of
the covenants set forth in Sections 2 or 3 of this Agreement. Accordingly, I agree that if I
breach any of such covenants, the Company will have available, in addition to any other right
or remedy available, the right to obtain an injunction from a court of competent jurisdiction
restraining such breach or threatened breach and to specific performance of any such provision
of this Agreement. I further agree that no bond or other security shall be required in
obtaining such equitable relief and I consent to the issuance of such injunction and to the
ordering of specific performance.

	5.	 	Effective Date. This Agreement shall become effective only upon the closing of an IPO
in which I shall sell shares of common stock of Ameresco and shall not be of any force or
effect prior to any such closing.

	6.	 	General Provisions.

	 	(a)	 	Limit on Obligations of Company. I understand that this Agreement does not create an
obligation on the Company or any other person or entity to continue my employment, if any.

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	 	(b)	 	Waiver. The Company reserves the right, in its sole discretion, to waive any term
or provision of this agreement in such circumstances as Ameresco deems appropriate. Any waiver by
Ameresco of any provision or a breach of any provision of this Agreement shall not operate or be
construed as a waiver of any subsequent breach of such provision or any other provision.
	 
	 	(c)	 	Severability. I acknowledge that each provision herein shall be treated as a separate
and independent clause, and the unenforceability or invalidity of any one clause shall in no way
impair the enforceability of any of the other clauses in this Agreement.
	 
	 	(d)	 	Interpretation. I acknowledge that the type and periods of restriction imposed in the
provisions of this Agreement are fair and reasonable and are reasonably required for the protection
of Ameresco and the Company and the goodwill associated with the business of Ameresco and the
Company. If one or more of the provisions contained in this Agreement shall for any reason be held
to be excessively broad as to scope, time, activity or subject so as to be unenforceable at law, I
agree that such provision or provisions should be interpreted by the appropriate judicial body by
limiting and reducing it or them, for such provision or provisions to be enforceable to the maximum
extent allowed under applicable law.
	 
	 	(e)	 	Survival. My obligations under this Agreement shall survive the termination of any
employment regardless of the manner of such termination and shall be binding upon my heirs,
executors, administrators and legal representatives.
	 
	 	(f)	 	Governing Law and Jurisdiction. This Agreement shall be governed by and interpreted in
accordance with laws of the Province of Ontario, without giving effect to any conflict of laws
provisions. Any action, suit or other legal proceeding which is commenced to resolve any matter
arising under or relating to any provision of this Agreement shall be commenced only in a court of
the Province of Ontario (or, if appropriate, the Federal Court).
	 
	 	(g)	 	Entire Agreement. This Agreement sets forth the entire agreement and understanding
between Ameresco and me relating to the subject matter herein; provided, however,
that any Confidential Information, Invention, Non-Solicitation and Non-Competition Agreement, or
similar agreement between me and the Company shall remain in full force and effect and shall not be
superseded in any respect by this Agreement. No modification of or amendment to this Agreement,
nor any waiver of any rights under this Agreement, will be effective unless in writing signed by
the party to be charged. Any subsequent change or changes in my duties,

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	 	 	 	salary or compensation will not affect the validity or scope of this Agreement.
	 
	 	(h)	 	Successors and Assigns. This Agreement will be binding upon my heirs, executors,
administrators and other legal representatives, and will be for the benefit of Ameresco and the
Company, and their respective successors and assigns. Ameresco shall have the right to assign this
Agreement to its successors and assigns, and all covenants and agreements hereunder shall inure to
the benefit of and be enforceable by said successors and assigns.
	 
	 	(i)	 	Headings. The headings of the sections of this Agreement are for convenience of
reference only and in no way define, limit or affect the scope of substance of any section of this
Agreement.

I ACKNOWLEDGE having been given an opportunity to obtain independent legal advice regarding the
terms and conditions of this Agreement.

I ACKNOWLEDGE that I have carefully read this Agreement and understand and agree to all its
provisions.

	 	 	 	 	 

	 

	 	 

Date
	 	 
	 
	 	 	 	 
	 

	 	 

Name
	 	 

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