Document:

Agreement Relating to Employment Thomas Vozzo

  
 Exhibit 10.4

  
 ARAMARK CORPORATION 
 AGREEMENT RELATING TO EMPLOYMENT AND 
 POST EMPLOYMENT COMPETITION 
  
 This Agreement is between the
undersigned individual (“Employee”) and ARAMARK CORPORATION (“ARAMARK”). 
  
 RECITALS 
  
 WHEREAS, ARAMARK is a leading provider of managed services to business and
industry, private and public institutions, and the general public, in the following business groups: food and support services; and uniform and career apparel; 
  

WHEREAS, ARAMARK has a proprietary interest in its business and financial plans and systems, methods of operation and other secret and confidential
information, knowledge and data (“Proprietary Information”) which includes, but is not limited to, all
confidential, proprietary or non-public information, ideas and concepts; annual and strategic business plans; financial plans, reports and systems including, profit and loss statements, sales, accounting forms and procedures and other information
regarding costs, pricing and the financial condition of ARAMARK and its business segments and groups; management development reviews, including information regarding the capabilities and experience of ARAMARK employees; intellectual property,
including patents, inventions, discoveries, research and development, compounds, recipes, formulae, reports, protocols, computer software and databases; information regarding ARAMARK’s relationships with its clients, customers, and suppliers
and prospective clients, partners, customers and suppliers, policy and procedure manuals, information regarding materials and documents in any form or medium (including oral, written, tangible, intangible, or electronic) concerning any of the above,
or any past, current or future business activities of ARAMARK that is not publicly available; compensation, recruiting 

  

 
and training, and human resource policies and procedures; and data compilations, research, reports, structures, compounds, techniques, methods, processes,
know-how; 
  
 WHEREAS, all such Proprietary Information is
developed at great expense to ARAMARK and is considered by ARAMARK to be confidential trade secrets; 
  
 WHEREAS, ARAMARK will provide access to Employee, as a senior manager, to ARAMARK’s Proprietary Information, directly in the course of
Employee’s employment, and indirectly through interaction with and presentations by other ARAMARK senior managers at the Executive Leadership Institute, Executive Leadership Council meetings, Presidents’ Council meetings and the like;

  
 WHEREAS, ARAMARK will introduce Employee to ARAMARK clients,
customers, suppliers and others, and will encourage, and provide resources for, Employee to develop personal relationships with ARAMARK’s clients, customers, suppliers and others; 
  
 WHEREAS, ARAMARK will provide specialized training and skills to Employee in connection with the performance of
Employee’s duties at ARAMARK which training involves the disclosure by ARAMARK to Employee of Proprietary Information; 
  
 WHEREAS, ARAMARK will be vulnerable to unfair post-employment competition by Employee because Employee will have access to and knowledge of ARAMARK’s
Proprietary Information, will have a personal relationship with ARAMARK’s clients, customers, suppliers and others, and will generate good will which Employee acknowledges belongs to ARAMARK; 
  
 NOW, THEREFORE, in consideration of Employee’s employment with ARAMARK,
the award of non-qualified stock options and restricted stock units under the 

  

 2 

 
ARAMARK 2001 Equity Incentive Plan, the severance and other post-employment benefits provided for herein (including pursuant to Exhibit A hereto), and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Employee agrees to enter into this Agreement with ARAMARK as a condition of employment pursuant to which ARAMARK will limit Employee’s right to
compete against ARAMARK during and following termination of employment on the terms set forth in this Agreement. Intending to be legally bound, the parties agree as follows: 
  
 ARTICLE 1. NON-DISCLOSURE AND NON-DISPARAGEMENT: Employee shall not, during or after termination of employment, directly or
indirectly, in any manner utilize or disclose to any person, firm, corporation, association or other entity, except where required by law, any Proprietary Information which is not generally known to the public, or has not otherwise been disclosed or
recognized as standard practice in the industries in which ARAMARK is engaged. Employee shall, during and after termination of employment, refrain from making any statements or comments of a defamatory or disparaging nature to any third party
regarding ARAMARK, or any of ARAMARK’s officers, directors, personnel, policies or products, other than to comply with law. 
  
 ARTICLE 2. NON-COMPETITION: 
  

	A.	 Subject to Article 2. B. below, Employee, during Employee’s period of employment with ARAMARK, and for a period of two years following the voluntary or
involuntary termination of employment, shall not, without ARAMARK’s written permission, which shall be granted or denied in ARAMARK’s sole discretion, directly or indirectly, associate with (including, but not limited to, association as a
sole proprietor, owner, employer, partner, principal, investor, joint venturer, shareholder, associate, employee, 

  

 3 

	 	 
member, consultant, contractor or otherwise), or acquire or maintain ownership interest in, any Business which is competitive with that conducted by or
developed for later implementation by ARAMARK at any time during the term of Employee’s employment, provided, however, if Employee’s employment is (i) involuntarily terminated by ARAMARK for any reason other than Cause (as defined herein),
or (ii) terminated by Employee for Good Reason (as defined in Exhibit A) at any time following a Change of Control (as defined in Exhibit A), then the term of the non-competition provision set forth herein will be modified to be one year following
such termination of employment. For purposes of this Agreement, “Business” shall be defined as a person, corporation, firm, LLC, partnership, joint venture or other entity. Nothing in the foregoing shall prevent Employee from investing in
a Business that is or becomes publicly traded, if Employee’s ownership is as a passive investor of less than 1% of the outstanding publicly traded stock of the Business. 

  

	B.	The provision set forth in Article 2.A above, shall apply to (i) all fifty states, and (ii) each foreign country, possession or territory in which ARAMARK may be engaged in, or have
plans to engage in, business (x) during Employee’s period of employment, or (y) in the case of a termination of employment, as of the effective date of such termination or at any time during the twenty-four month period prior thereto.

  

	C.	 Employee acknowledges that these restrictions are reasonable and necessary to protect the business interests of ARAMARK, and that enforcement of the provisions set
forth in this Article 2 will not unnecessarily or unreasonably impair Employee’s ability to obtain other employment following the termination (voluntary or involuntary) of Employee’s employment with ARAMARK. Further, Employee acknowledges
that the provisions set 

  

 4 

	 	 
forth in this Article 2 shall apply if Employee’s employment is involuntarily terminated by ARAMARK for Cause; as a result of the elimination of
employee’s position; for performance-related issues; or for any other reason or no reason at all. 

  
 ARTICLE 3. NON-SOLICITATION: During the period of Employee’s employment with ARAMARK and for a period of two years following the termination of
Employee’s employment, regardless of the reason for termination, Employee shall not, directly or indirectly:
(i) induce or encourage any employee of ARAMARK to leave the employ of ARAMARK, (ii) hire any individual who was an employee of ARAMARK as of the date of Employee’s termination of employment or within a six month period prior to such date, or
(iii) induce or encourage any customer, client, supplier or other business relation of ARAMARK to cease or reduce doing business with ARAMARK or in any way interfere with the relationship between any such customer, client, supplier or other business
relation and ARAMARK. 
  
 ARTICLE 4. DISCOVERIES AND WORKS:
Employee hereby irrevocably assigns, transfers, and conveys to ARAMARK to the maximum extent permitted by applicable law Employee’s right, title and interest now or hereinafter acquired, in and to all Discoveries and Works (as defined below)
created, invented, designed, developed, improved or contributed to by Employee, either alone or jointly with others, while employed by ARAMARK and within the scope of Employee’s employment and/or with the use of ARAMARK’s resources. The
terms “Discoveries and Works” include all works of authorship, inventions, intellectual property, materials, documents, or other work product (including, without limitation, Proprietary Information, patents and patent applications,
patentable inventions, research, reports, software, code, databases, systems, applications, presentations, textual works, graphics and audiovisual materials). Employee shall have the burden of proving that any materials or works created, 

  

 5 

 
invented, designed, developed, contributed to or improved by Employee that are implicated by or relevant to employment by ARAMARK are not implicated by this
provision. Employee agrees to (i) keep accurate records and promptly notify, make full disclosure to, and execute and deliver any documents and to take any further actions requested by ARAMARK to assist it in validating, effectuating, maintaining,
protecting, enforcing, perfecting, recording, patenting or registering any of its rights hereunder, and (ii) renounce any and all claims, including, without limitation, claims of ownership and royalty, with respect to all Discoveries and Works and
all other property owned or licensed by ARAMARK. Any Discoveries and Works that, within six months after the termination of Employee’s employment with ARAMARK, are made, disclosed, reduced to a tangible or written form or description, or are
reduced to practice by Employee and which pertain to the business carried on or products or services being sold or developed by ARAMARK at the time of such termination shall, as between Employee and ARAMARK, be presumed to have been made during such
employment with ARAMARK. Employee acknowledges that, to the fullest extent permitted by law, all Discoveries and Works shall be deemed “works made for hire” under the Copyright Act of 1976, as amended, 17 U.S.C. Section 101. Employee
hereby grants ARAMARK a perpetual, nonexclusive, royalty-free, worldwide, assignable, sublicensable license under all rights and intellectual property rights (including patent, industrial property, copyright, trademark, trade secret, unfair
competition and related laws) in any Works and Discoveries, for all purposes in connection with ARAMARK’s current and future business, that Employee has created, invented, designed, developed, improved or contributed to prior to Employee’s
employment with ARAMARK that are relevant to or implicated by such employment (“Prior Works”). Any Prior Works are disclosed by Employee in Schedule 1. 
  

 6 

 ARTICLE 5. REMEDIES: Employee acknowledges that in the event of any violation by Employee of the provisions
set forth in Articles 1, 2, 3 or 4 above, ARAMARK will sustain serious, irreparable and substantial harm to its business, the extent of which will be difficult to determine and impossible to fully remedy by an action at law for money damages.
Accordingly, Employee agrees that, in the event of such violation or threatened violation by Employee, ARAMARK shall be entitled to an injunction before trial before any court of competent jurisdiction as a matter of course upon the posting of not
more than a nominal bond, in addition to all such other legal and equitable remedies as may be available to ARAMARK. If ARAMARK, is required to enforce the provisions set forth in Articles 2 and 3 above by seeking an injunction. Employee agrees that
the relevant time periods set forth in Articles 2 and 3 shall commence with the entry of the injunction. Employee further agrees that, in the event any of the provisions of this Agreement are determined by a court of competent jurisdiction to be
invalid, illegal, or for any reason unenforceable as written, such court shall substitute a valid provision which most closely approximates the intent and purpose of the invalid provision and which would be enforceable to the maximum extent
permitted by law.  
  

 7 

 ARTICLE 6. POST-EMPLOYMENT BENEFITS: 
  

	A.	If Employee’s employment is terminated by ARAMARK for any reason other than Cause, and Employee executes and does not revoke a Release and Waiver of Claims in a form acceptable
to ARAMARK, Employee shall be entitled to the following post-employment benefits: 

  

	 	1.	Severance Pay: Employee shall receive severance payments equivalent to Employee’s monthly base salary as of the effective date of termination for the number of months
set forth on the following schedule: 

  

			
	 Years of ARAMARK Continuous
 Service
Completed from Last Hire
 Date

	  	 Months of Severance Pay

	 Less than 2
	  	6
	 2
	  	9
	 3
	  	12
	 4
	  	15
	 5 or More
	  	I8

  
 Severance payments
shall commence with the Employee’s effective date of termination and shall be made in accordance with ARAMARK’s normal payroll cycle. The period during which Employee receives severance payments shall be referred to as the “Severance
Pay Period.” 
  

	 	2.	Other Post-Employment Benefits 

  

	 	(a)	 Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee
becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee’s share of the premiums will be deducted from Employee’s severance
payments. Basic Group medical coverage provided during such period shall be applied 

  

 8 

	 	 
against ARAMARK’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).
Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. 

  

	 	(b)	If, at the time of termination, ARAMARK is providing Employee with a leased vehicle, then ARAMARK will continue to provide the leased vehicle through the Severance Pay Period under
the same terms and conditions as in effect at the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee must return the leased vehicle to ARAMARK unless the Employee elects to purchase the vehicle in
accordance with the Executive Leadership Council policy then in effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to be paid through the Severance Pay Period. At the
expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. 

  

	 	(c)	 Employee’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term
Disability, Stock Unit Retirement, Deferred Compensation, 2001 Equity Incentive Plan, and any other stock option or ownership plans, shall terminate as of the effective date of Employee’s termination unless provided otherwise under the terms of
a particular plan, provided, however, that participation in plans and programs made available solely to 

  

 9 

	 	 
Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of
termination or the date Employee’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

  

	B.	Termination for “Cause” shall be defined as termination of employment due to: (i) conviction of or entry of a plea of guilty or nolo contenders to a felony (or any similar
crime for purposes of laws outside the United States), (ii) fraud or dishonesty, (iii) willful failure to perform assigned duties, (iv) willful violation of ARAMARK’s Business Conduct Policy, or (v) intentionally working against the best
interests of ARAMARK. 

  

	C.	If Employee is terminated by ARAMARK for reasons other than Cause, Employee will receive the severance payments and other post-employment benefits during the Severance Pay Period
even if Employee commences other employment during such period provided such employment docs not violate the terms of Article 2. 

  

	D.	In addition to the remedies set forth in Article 5, ARAMARK reserves the right to terminate all severance payments and other post-employment benefits if Employee violates the
covenants set forth in Articles 1, 2, 3 or 4 above. 

  

	E.	 Employee’s receipt of severance and other post-employment benefits under this Agreement is contingent on (i) Employee’s execution of a Release and Waiver
of Claims in a form reasonably acceptable to ARAMARK, except that such release and waiver shall not include any claims by Employee to enforce Employee’s rights under, or with respect to, this Agreement (including the attached Exhibit A) or any
ARAMARK benefit plan 

  

 10 

	 	 
pursuant to its terms, and (ii) the non-revocation of the release and waiver by Employee; provided, however, that this Article 6.E no longer shall apply
following a Change of Control (as defined in the attached Exhibit A). 

  
 ARTICLE 7. TERM OF EMPLOYMENT: Employee acknowledges that ARAMARK has the right to terminate Employee’s employment at any time for any reason whatsoever, provided, however, that any termination by ARAMARK for reasons
other than Cause shall result in the severance and the post-employment benefits described in Article 6 above, to become due in accordance with the terms of this Agreement subject to the conditions set forth in this Agreement. Employee further
acknowledges that the severance payments made and other benefits provided by ARAMARK are in full satisfaction of any obligations ARAMARK may have resulting from ARAMARK’s exercise of its right to terminate Employee’s employment, including
any obligation under general severance plans or policies, and except for those obligations which arc intended to survive termination such as the payments to be made pursuant to retirement plans, deferred compensation plans and conversion of
insurance.  
  
 ARTICLE 8. MISCELLANEOUS: 
  

	A.	As used throughout this Agreement, ARAMARK includes ARAMARK Corporation and its subsidiaries and affiliates or any corporation, joint venture, or other entity in which ARAMARK
Corporation or its subsidiaries or affiliates has an equity interest in excess of ten percent (10%). 

  

	B.	This Agreement shall supersede and substitute for any previous post-employment or severance agreement between Employee and ARAMARK. 

  

	C.	In the event of a Change of Control as defined in the attached Exhibit A, the provisions of Exhibit A shall apply to Employee. 

  

 11 

	D.	If Employee’s employment with ARAMARK terminates solely by reason of a transfer of stock or assets of, or a merger or other disposition of, a subsidiary of ARAMARK (whether
direct or indirect), such termination shall not be deemed a termination of employment by ARAMARK for purposes of this Agreement, provided that ARAMARK requires the subsequent employer, by agreement, to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that ARAMARK would be required to perform it if no such transaction had taken place. 

  

	E.	Employee shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise. 

 

	F.	In the event any one or more of the provisions of this Agreement shall be or become invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of
the remaining provisions of this Agreement shall not be affected thereby. 

  

	G.	The terms of this Agreement shall be governed by the laws of the Commonwealth of Pennsylvania, without regard to conflicts of laws principles thereof. For purposes of any action or
proceeding, Employee irrevocably submits to the non-exclusive jurisdiction of the courts of Pennsylvania and the courts of the United States of America located in Pennsylvania for the purpose of any judicial proceeding arising out of or relating to
this Agreement, and acknowledges that the designated fora have a reasonable relation to the Agreement and to the parties’ relationship with one another. Notwithstanding the provisions of this Article 8.G. ARAMARK may, in its discretion,
bring an action or special proceeding in any court of competent jurisdiction for the purpose of seeking temporary or preliminary relief pending resolution of a dispute. 

  

 12 

	H.	Employee expressly consents to the application of Article 8.G to any judicial action or proceeding arising out of or relating to this Agreement. ARAMARK shall have the right to
serve legal process upon Employee in any manner permitted by law. In addition, Employee irrevocably appoints the General Counsel of ARAMARK Corporation (or any successor) as Employee’s agent for service of legal process in connection with any
such action or proceeding and Employee agrees that service of legal process upon such agent, who shall promptly advise Employee of any such service of legal process at the address of Employee then in the records of ARAMARK, shall be deemed in every
respect effective service of legal process upon Employee in any such action or proceeding. 

  

	I.	Employee hereby waives, to the fullest extent permitted by applicable law, any objection that Employee now or hereafter may have to personal jurisdiction or to the laying of venue
of any action or proceeding brought in any court referenced in Article 8.G and hereby agrees not to plead or claim the same. 

  

	J.	Notwithstanding any other provision of this Agreement, ARAMARK may, to the extent required by law, withhold applicable federal, state and local income and other taxes from any
payments due to Employee hereunder. 

  

	K.	Employee and ARAMARK acknowledge that for purposes of Article 6, Employee’s last hire date with ARAMARK is June 10, 1985. 

  

	L.	This Agreement shall be binding upon, inure to the benefit of and be enforceable by the Company and Employee, and their respective heirs, legal representatives, successors and
assigns. Employee acknowledges and agrees that this Agreement, including its provisions on post-employment restrictions, is specifically assignable by ARAMARK. 

  

 13 

	 	 
Employee hereby consents to such future assignment and agrees not to challenge the validity of such future assignment. 

  
 IN WITNESS WHEREOF, and intending to be legally bound, the parties hereto have caused this
Agreement to be signed. 
  

									
	 Date:
	 	 November 10, 2004
	 	 	 	ARAMARK CORPORATION
					
	 	 	 	 	 	 	By:	 	/s/    LYNN B.
MCKEE        
	 	 	 	 	 	 	 	 	Lynn B. McKee
					
	 	 	 	 	 	 	By:	 	/s/    THOMAS J. VOZZO        
	 	 	 	 	 	 	 	 	Thomas J. Vozzo

  

 14 

 Schedule 1 
  
 Prior Works* 

	*	If no Prior Works are listed, Employee certifies that there are none. 

  

 15 

  
 EXHIBIT A 

 
 TERMINATION PROTECTION PROVISIONS 
  
 THIS is an Exhibit A to, and forms a part of, the ARAMARK Corporation
Agreement Relating to Employment and Post-Employment Competition between Thomas J. Vozzo (the “Executive”) and ARAMARK Corporation. 
  

	 	1.	Defined Terms. 

  
 Unless otherwise indicated, capitalized terms used in this Exhibit which are defined in Schedule A shall have the meanings set forth in Schedule A.

  

	 	2.	Effective Date; Term. 

  
 This Exhibit shall be effective as of 11/10, 2004 (the “Effective Date”) and shall remain in effect until 11/10, 2007 (the “Term”); provided, however, that commencing with 11/10, 2005 and on each anniversary thereof (each an “Extension Date”), the Term shall be automatically extended for an additional one-year
period, unless the Company or Executive provides the other party hereto written notice before the applicable Extension Date that the Term shall not be so extended. Notwithstanding the foregoing, this Exhibit shall, if in effect on the date of a
Change of Control, remain in effect until the later of three years following the Change of Control and the date that all of the Company’s obligations under this Exhibit have been satisfied in full. 
  

	 	3.	Change of Control Benefits. 

  
 If Executive’s employment with the Company is terminated at any time within the three years following a Change of Control by the Company without
Cause, or by Executive for Good Reason (the effective date of either such termination hereafter referred to as the “Termination Date”). Executive shall be entitled to the payments and benefits provided hereafter in this Section 3 and as
set forth in this Exhibit. If Executive’s employment by the Company is terminated prior to a Change of Control by the Company (i) at the request of a party (other than the Company) involved in the Change of Control or (ii) otherwise in
connection with or in anticipation of a Change of Control that subsequently occurs, Executive shall be entitled to the benefits provided hereafter in this Section 3 and as set forth in this Exhibit, and Executive’s Termination Date shall be
deemed to have occurred immediately following the Change of Control. Payment of benefits under this Exhibit shall be in addition to, and not in lieu of, any benefits payable under the ARAMARK Corporation Agreement Relating to Employment and
Post-Employment Competition of which this Exhibit is a part, except as provided in Section 3(b) hereof. Notice of termination without Cause or for Good Reason shall be given in accordance with Section 13, and shall indicate the specific termination
provision hereunder relied upon, the relevant facts and circumstances and the Termination Date. 
  

	 	a.	Severance Payments. The Company shall pay Executive cash benefits equal to: 

  

	 	(1)	two times Executive’s Base Salary in effect on the date of the Change of Control or the Termination Date, whichever is higher; provided that if any reduction of the Base Salary
has occurred, then the Base Salary on either date shall be as in effect immediately prior to such reduction, payable in regular installments at such times as would otherwise be the Company’s usual payroll practice over a period of two years;
and 

  

	 	(2)	the higher of: (A) two times Executive’s Target Bonus in effect on the date of the Change of Control or the Termination Date, whichever is greater; or (B) two times
Executive’s most recent actual annual bonus, payable in either case ratably in regular installments at the same time as payments are made to Executive under Section 3(a)(1) above; provided that if any reduction of the Target Bonus has occurred,
then the Target Bonus on either date shall be as in effect immediately prior to such reduction; and 

  

	 	(3)	Executive’s Target Bonus (as determined in (2), above) multiplied by a fraction, the numerator of which shall equal the number of days Executive was employed by the Company in
the Company fiscal year in which the Termination Date occurs and the denominator of which shall equal 365, payable as a cash lump sum within forty days after the Termination Date; and 

  

	 	(4)	in the case of a termination of employment by Executive for Good Reason, an amount equal to the severance pay specified in Article 6.A.I. of the attached Presidents’ Council
Agreement (as defined in Section 8 hereof), payable according to the schedule set forth therein, determined as if Executive’s employment had been termination by ARAMARK without Cause on the Termination Date. 

  

	 	b.	Continuation of Benefits. Until the second anniversary of the Termination Date, the Company shall, at its expense, provide Executive and Executive’s spouse and dependents with
medical, life insurance and disability coverages at the level provided to Executive immediately prior to the Change of Control; provided, however, that if Executive becomes employed by a new employer, continuing coverage from the Company will become
secondary to any coverage afforded by the new employer. In the event benefits are continued under this Section 3(b), such continued benefits shall be in lieu of those specified in Article 6.A.2.a of the attached Presidents’ Council Agreement
(as defined in Section 8 hereof). 

  

	 	c.	 Payment of Earned But Unpaid Amounts. Within forty days after the Termination Date, the Company shall pay Executive the Base Salary through the Termination Date,
any Bonus earned but unpaid as of the Termination Date for any previously completed fiscal year of the 

  

 A-2 

	 	 
Company, all compensation previously deferred by Executive but not yet paid and reimbursement for any reimbursement expenses properly incurred by Executive
in accordance with Company policies prior to the Termination Date. Executive shall also receive such employee benefits, if any, to which Executive may be entitled from time to time under the employee benefit or fringe benefit plans, policies or
programs of the Company, other than any Company severance policy (payments and benefits in this subsection (c), the “Accrued Benefits”). 

  

	 	d.	Outplacement Counseling. For the two-year period following the Termination Date (or, if earlier, the date Executive first obtains full-time employment after the Termination Date),
the Company shall reimburse all reasonable expenses incurred by Executive for professional outplacement services by qualified consultants selected by Executive, in an amount not to exceed 20% of the Executive’s Base Salary in effect on the date
of the Change of Control or the Termination Date, whichever is higher. 

  

	 	e.	Vesting of Other Benefits. Executive shall be entitled to such accelerated vesting of outstanding equity-based awards or retirement plan benefits as is specified under the terms of
the applicable plans, agreements and arrangements. 

  

	 	4.	Mitigation. 

  
 Executive shall not be required to mitigate damages or the amount of any payment provided for under this Exhibit by seeking other employment or otherwise, and, subject to Section 3(b), compensation earned from such
employment or otherwise shall not reduce the amounts otherwise payable under this Exhibit. No amounts payable under this Exhibit shall be subject to reduction or offset in respect of any claims which the Company (or any other person or entity) may
have against Executive. 
  

	 	5.	Gross-Up. 

  

	 	a.	 In the event it shall be determined that any payment, benefit or distribution (or combination thereof) by the Company, any of its affiliates, or one or more trusts
established by the Company for the benefit of its employees, to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Exhibit, or otherwise) (a “Payment”) is subject to the
excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, hereinafter collectively referred to as the
“Excise Tax”), Executive shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by Executive of all taxes (including any interest or penalties imposed with respect to such
taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and the Excise Tax imposed upon 

  

 A-3 

	 	 
the Gross-Up Payment, Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. 

  

	 	b.	All determinations required to be made under this Section 5, including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to
be utilized in arriving at such determination, shall he made by such nationally recognized certified public accounting firm as may be designated by the Company (the “Accounting Firm”) which shall provide detailed supporting calculations
both to the Company and Executive within ten business days of the receipt of notice from Executive that there has been a Payment, or such earlier time as is requested by the Company; provided that for purposes of determining the amount of any
Gross-Up Payment, Executive shall be deemed to pay federal income tax at the highest marginal rates applicable to individuals in the calendar year in which any such Gross-Up Payment is to be made and deemed to pay state and local income taxes at the
highest effective rates applicable to individuals in the state or locality of Executive’s residence or place of employment in the calendar year in which any such Gross-Up Payment is to be made, net of the maximum reduction in federal income
taxes that can be obtained from deduction of such state and local taxes, taking into account limitations applicable to individuals subject to federal income tax at the highest marginal rates. All fees and expenses of the Accounting Firm shall be
borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Section 5, shall be paid by the Company to Executive (or to the appropriate taxing authority on Executive’s behalf) when due. If the Accounting Firm determines
that no Excise Tax is payable by Executive, it shall so indicate to Executive in writing. Any determination by the Accounting Firm shall be binding upon the Company and Executive. As a result of the uncertainty in the application of Section 4999 of
the Code, it is possible that the amount of the Gross-Up Payment determined by the Accounting Firm to be due to (or on behalf of) Executive was lower than the amount actually due (“Underpayment”). In the event that the Company exhausts its
remedies pursuant to Section 5(c) and Executive thereafter is required to make a payment of any Excise Tax, the Accounting firm shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the
Company to or for the benefit of Executive. 

  

	 	c.	 Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require the payment by the Company of any
Gross-Up Payment. Such notification shall be given as soon as practicable but no later than ten business days after Executive is informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which such
claim is requested to be paid. Executive shall not pay such claim prior to the expiration of the thirty day period following the date on which it gives such notice to the 

  

 A-4 

	 	 
Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies Executive in writing
prior to the expiration of such period that it desires to contest such claim, Executive shall (i) give the Company any information reasonably requested by the Company relating to such claim, (ii) take such action in connection with contesting such
claim as the Company shall reasonably request in writing from time to time, including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company, (iii) cooperate with the Company
in good faith in order to effectively contest such claim and (iv) permit the Company to participate in any proceedings relating to such claim; provided, however, that the Company shall bear and pay directly all costs and expenses (including
additional interest and penalties) incurred in connection with such contest and shall indemnify and hold Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties with respect thereto) imposed as a
result of such representation and payment of costs and expenses. Without limitation on the foregoing provisions of this Section 5(c), the Company shall control all proceedings taken in connection with such contest and, at its sole option, may pursue
or forego any and all administrative appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct Executive to pay the tax claimed and sue for a refund or contest the
claim in any permissible manner, and Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided,
further, that if the Company directs Executive to pay such claim and sue for a refund, the Company shall advance the amount of such payment to Executive, on an interest-free basis, and shall indemnify and hold Executive harmless, on an after-tax
basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with respect to such advance; provided, further, that if Executive is required
to extend the statute of limitations to enable the Company to contest such claim, Executive may limit this extension solely to such contested amount. The Company’s control of the contest shall be limited to issues with respect to which a
Gross-Up Payment would be payable hereunder and Executive shall be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing authority. 

  

	 	d.	 If, after the receipt by Executive of an amount paid or advanced by the Company pursuant to this Section 5, Executive becomes entitled to receive any refund with
respect to a Gross-Up Payment, Executive shall (subject to the Company’s complying with the requirements of Section 5(c)) promptly pay to the Company the amount of such refund received (together with any interest paid or credited thereon after
taxes applicable 

  

 A-5 

	 	 
thereto). If, after the receipt by Executive of an amount advanced by the Company pursuant to Section 5(c), a determination is made that Executive shall not
be entitled to any refund with respect to such claim and the Company does not notify Executive in writing of its intent to contest such denial of refund prior to the expiration of thirty days after such determination, then such advance shall be
forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of the Gross-Up Payment required lo be paid. 

  

	 	6.	Termination for Cause. 

  
 Nothing in this Exhibit shall be construed to prevent the Company from terminating Executives employment for Cause. If Executive is terminated for Cause,
the Company shall have no obligation to make any payments under this Exhibit, except for the Accrued Benefits. 
  

	 	7.	Indemnification; Director’s and Officer’s Liability Insurance. 

  
 Executive shall, after the Termination Date, retain all rights to indemnification under applicable law or under the Company’s Certificate of
Incorporation or By-Laws, as they may be amended or restated from time to time. In addition, the Company shall maintain Director’s and Officer’s liability insurance on behalf of Executive, at the level in effect immediately prior to the
Termination Date, for the three year period following the Termination Date, and throughout the period of any applicable statute of limitations. 
  

	 	8.	Executive Covenants. 

  
 This is an Exhibit A to, and forms a part of, an agreement with the Company relating to employment and post-employment competition (the
“Presidents’ Council Agreement”). This Exhibit shall not diminish in any way Executive’s rights under the terms of such Presidents’ Council Agreement, except that Executive’s receipt of benefits under this Exhibit is
contingent upon Executive’s compliance in all material respects with all of the terms and conditions of the Presidents’ Council Agreement. 
  

	 	9.	Costs of Proceedings. 

  
 Each party shall pay its own costs and expenses in connection with any legal proceeding (including arbitration), relating to the interpretation or
enforcement of any provision of this Exhibit, except that the Company shall pay such costs and expenses, including attorneys’ fees and disbursements, of Executive if Executive prevails in such proceeding. 
  

	 	10.	Assignment. 

  
 Except as otherwise provided herein, this Exhibit shall be binding upon, inure to the benefit of and be enforceable by the Company and Executive and their respective heirs, legal representatives, successors and
assigns. If the Company shall be merged into or consolidated with another entity, the provisions of this Exhibit shall be binding upon and inure to the benefit of the entity surviving such merger or resulting from such consolidation. The Company
shall 

  

 A-6 

 
require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of
the Company, by agreement, expressly to assume and agree to perform this Exhibit in the same manner and to the same extent that the Company would he required to perform it if no such succession had taken place. The provisions of this Section 10
shall continue to apply to each subsequent employer of Executive hereunder in the event of any subsequent merger consolidation or transfer of assets of such subsequent employer. 
  

	 	11.	Withholding. 

  
 Notwithstanding any other provision of this Exhibit, the Company may, to the extent required by law, withhold applicable federal, state and local income
and other taxes from any payments due to Executive hereunder. 
  

	 	12.	Applicable Law. 

  
 This Exhibit shall be governed by and construed in accordance with the laws of the State of Pennsylvania, without regard to conflicts of laws principles
thereof. 
  

	 	13.	Notice. 

  
 For the purpose of this Exhibit, any notice and all other communication provided for in this Exhibit shall be in writing and shall be deemed to have been duly given when delivered by hand or overnight courier or throe
days after it has been mailed by United States registered mail, return receipt requested, postage prepaid, addressed to the respective addresses set forth below, or to such other address as either party may have furnished to the other in writing in
accordance herewith, except that notice of change of address shall be effective only upon receipt. 
  
 If to the Company: 
  
 ARAMARK Corporation 
 ARAMARK Tower

 1101 Market Street 
 Philadelphia, Pennsylvania 19107 
 Attention: General Counsel 
  
 If to Executive: 
  
 To the most recent address of Executive set forth in the personnel records of the Company. 
  

	 	14.	Entire Agreement; Modification. 

  
 This Exhibit constitutes the entire agreement between the parties and, except as expressly provided herein, supersedes all other prior agreements
expressly concerning the effect of a Change of Control on the relationship between the Company and Executive. This Exhibit is not, and nothing herein shall be deemed to create, a contract of employment between the 

  

 A-7 

 
Company and Executive. This Exhibit may be changed only by a written agreement executed by the Company and Executive. 
  

	 	15.	Severability. 

  
 In the event any one or more of the provisions of this Exhibit shall be or become invalid, illegal or unenforceable in any respect, the validity, legality
and enforceability of the remaining provisions shall not be affected thereby. 
  

 A-8 

 Schedule A 
  

CERTAIN DEFINITIONS 
  
 As used in this Exhibit, and unless the context requires a different meaning, the following terms, when capitalized, have the meaning indicated:

  

	 	1.	“Act” means the Securities Exchange Act of 1934, as amended. 

  

	 	2.	“Base Salary” means Executive’s annual rate of base salary in effect on the date in question. 

  

	 	3.	“Bonus” means the amount payable to Executive under the Company’s applicable annual bonus plan with respect to a fiscal year of the Company. 

 

	 	4.	“Cause” means “cause” as defined in the Presidents’ Council Agreement of which this Schedule A forms a part. 

  

	 	5.	“Change of Control” means the first to occur of any of the following: 

  
 (a) any “person” or “group” (as described in the Act) (other than
(i) a person holding securities representing 10% or more of the combined voting power of the Company’s outstanding securities as of the date that the Company completes an initial public offering of its class B common stock (a “Pre-Existing
Shareholder”), (ii) the Company, any trustee or other fiduciary holding securities under an employee benefit plan of the Company, or (iii) any company owned, directly or indirectly, by the shareholders of the Company in substantially the same
proportions as their ownership of shares of the Company), becomes the beneficial owner (as defined in Rule 13d-3 of the Act), directly or indirectly, of securities of the Company, representing (1) 20% or more of the combined voting power of the
Company’s then-outstanding securities and (II) more of the combined voting power of the Company’s then-outstanding securities than the Pre-Existing Shareholders in the aggregate; 
  
 (b) during any period of twenty-four consecutive months (not including any
period prior to the date that the Company completes an initial public offering of its class B common stock), individuals who at the beginning of such period constitute the Company’s Board of Directors, and any new director (other than a
director nominated by any person (other than the Company) who publicly announces an intention to take or to consider taking actions (including, but not limited to, an actual or threatened proxy contest) which if consummated would constitute a Change
in Control under (a), (c) or (d) of this Section 5) whose election by the Company’s Board of Directors or nomination for election by the Company’s shareholders was approved by a vote of at least two-thirds of the directors then still in
office who either were directors at the beginning of the 

  

 A-9 

 
period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority thereof; 

 
 (c) the consummation of any transaction or series of transactions
resulting in a merger or consolidation in which the Company is involved, other than a merger or consolidation which would result in the shareholders of the Company immediately prior thereto continuing to own (either by remaining outstanding or by
being converted into voting securities of the surviving entity), in the same proportion as immediately prior to the transaction(s), more than 50% of the combined voting power of the voting securities of the Company or such surviving entity
outstanding immediately after such merger or consolidation; 
  
 (d) the complete liquidation of the Company or the sale or disposition by the Company of all or substantially all of the Company’s assets; or 
  
 (e) any other transaction so denominated by the Company’s Board of Directors. 
  

	 	6.	“Code” means the Internal Revenue Code of 1986, as amended. 

  

	 	7.	“Company” means ARAMARK Corporation and any successor or successors thereto. 

  

	 	8.	“Good Reason” means any of the following actions on or after a Change of Control, without Executive’s express prior written approval, other than due to
Executive’s Permanent Disability or death: 

  

	 	(a)	any decrease in Base Salary or Target Bonus; 

  

	 	(b)	any decrease in Executive’s pension benefit opportunities or any material diminution in the aggregate employee benefits, in each case, afforded to the Executive immediately
prior to the Change of Control, but not including any such decrease or diminution that is inadvertent and that is cured within 30 days following written notice of such decrease or diminution by Executive to the Company; 

  

	 	(c)	any diminution in Executive’s title or reporting relationship, or substantial diminution in duties or responsibilities (other than solely as a result of a Change of Control in
which the Company immediately thereafter is no longer publicly held); 

  

	 	(d)	any relocation of Executive’s principal place of business of 35 miles or more, other than normal travel consistent with past practice; or 

  

	 	(e)	Executive’s notice of termination of employment within the thirty-day period following the first day of the 13th month following the Change of Control. 

  

 A-10 

 Except with respect to Section 8(e) above, Executive shall have twelve months from the
time Executive first becomes aware of the existence of Good Reason to resign for Good Reason. 
  

	 	9.	“Permanent Disability” means “permanent disability” as defined in the Company’s long-term disability plan as in effect from time to time, or if there shall
be no plan, the inability of Executive to perform in all material respects Executive’s duties and responsibilities to the Company or any affiliate for a period of six (6) consecutive months or for an aggregate of nine (9) months in any
twenty-four (24) consecutive month period by reason of a physical or mental incapacity. 

  

	 	10.	“Target Bonus” means the target Bonus established for Executive, whether expressed as a percentage of Base Salary or a dollar amount. 

  

 A-11Amended and Restated Employment Agreement, dated as of May 18, 2004

 Exhibit 10.3 
  
 AMENDED AND RESTATED 
 EMPLOYMENT AGREEMENT 
  
 This Amended and Restated Employment Agreement, dated as of the 18th day of May, 2004, between Dean Tulumaris (the “Executive”) and Memry Corporation, a Delaware corporation (the “Company”). 
  
 W I T N E S S E
T H, 
  
 WHEREAS, the Company and the Executive
entered into an employment agreement on May 20th, 2003 which superseded and replaced the Offer Letter between the
Company and the Executive, dated July 31, 2002 (the “Offer Letter”); 
  
 WHEREAS, the Company and the Executive desire to amend and restate the employment agreement on the terms and conditions set forth below (this “Agreement”); and 
  
 WHEREAS, in consideration of the commencement of the performance described in
this Agreement, and effective as of the date hereof, the Company shall issue to the Executive an option to acquire 100,000 shares of the common stock of the Company pursuant to the terms of the Company’s Amended and Restated 1997 Long-Term
Incentive Plan, which options shall (1) be incentive stock options to the extent permitted under the Internal Revenue Code of 1986, as amended, (2) have an exercise price equal to the fair market value of the common stock on the date hereof, and (3)
vest equally in annual installments over four years beginning on the first anniversary of the date hereof. 
  
 NOW, THEREFORE, in consideration of the premises and of the covenants and agreements set forth herein, the parties agree as follows: 
  
 1. Employment and Duties. 
  
 (a) The Company hereby agrees to employ the Executive, and the Executive
hereby accepts employment, upon the terms and conditions set forth herein. During the period during which he is employed hereunder (the “Period of Employment”), the Executive shall diligently and faithfully serve the Company in the
capacity of Chief Operations Officer, or in such other and/or lesser executive capacity or capacities as the Board of Directors and the Executive may, from time to time, agree. 
  
 (b) During the Period of Employment hereof, the Executive shall, at the request of the Company, serve as an officer and/or
director of direct and indirect subsidiaries, and other affiliates, of the Company as the Company, acting through its Board of Directors, shall request from time to time. 
  
 (c) The Executive shall devote his best efforts and substantially all of his business time, services and attention to the
advancement of the Company’s business and interests during the Period of Employment. The restrictions in this Section 1 shall in no way prevent the Executive from (except as set forth in the immediately succeeding sentence) pursuing other
activities, so long as all of such other activities do not, in the aggregate, materially interfere with the Executive’s duties hereunder (including his obligation to 

 devote substantially all of his business time, services and attention to the Company). Notwithstanding
the foregoing, however, the Executive shall not accept any outside directorships during the Period of Employment without the prior consent of the Company’s Board of Directors. 
  
 (d) The Executive shall, at all times during the Period of Employment, diligently and faithfully carry out the policies,
programs and directions of the Board of Directors of the Company and the Company’s senior management. The Executive shall comply with the directions and instructions made or given by or under the authority of the Company’s President and
Chief Operating Officer and whenever requested to do so shall give an account of all transactions, matters and things related to the Company and its affiliates and their affairs with which the Executive is entrusted. 
  
 2. Term. The initial term of this Agreement shall commence on
the date hereof, and shall terminate on the day before the first anniversary of such date (the “Initial Term”). Thereafter, the term of this Agreement shall be automatically renewed for successive one-year periods, each commencing on the
month and day of this Agreement in the appropriate year and terminating on the day before such date in the subsequent year, unless either party notifies the other in writing of such party’s intention not to renew at least ninety (90) days prior
to the date on which the term of this Agreement would otherwise terminate. The Initial Term and such other periods for which the term hereof has been extended as aforesaid is collectively referred to herein as the “Term.” In the event the
Company elects not to renew this Agreement at the end of any Term, then the Company shall pay to the Executive (i) the Executive’s base salary for a period of six (6) months following termination of this Agreement, as and when the same would
otherwise be due (including continuation of employee health insurance as provided to active employees), and (ii) an amount equal to 50% of the Executive’s bonus described in Section 3(b) payable for the fiscal year in which such non renewal
occurs, in one lump sum when it would otherwise be payable; provided, however, that such payment shall not be paid by the Company if such non-renewal is “for cause” (as defined below). 
  
 3. Compensation. In consideration of the services rendered and
to be rendered by the Executive, the Company agrees to compensate the Executive during the Period of Employment as follows: 
  
 (a) From the date hereof the Company shall pay to the Executive an annual base salary of $180,000, payable in equal installments every two weeks. The
Executive’s base salary may be increased from time to time by the Board in accordance with normal business practices of the Company. 
  
 (b) The Executive shall also be entitled to receive additional compensation in the form of an annual target bonus in an amount equal to 45% of the
Executive’s base annual salary, determined by and in the sole discretion of the Board of Directors of the Company. Such target amount is based upon the Company meeting Company performance goals and objectives. In addition, the Executive shall
be entitled to a one time cash bonus of $20,000 in recognition of outstanding performance during the 2004 fiscal year. The Executive shall also be eligible to receive stock option grants pursuant to any bonus and/or incentive compensation programs
that may be established by the Company, including without limitation the Company’s current incentive plans; provided, however, that nothing set forth in this sentence will in any way limit the Board of Directors discretion to
approve or reject any bonus that the Executive would otherwise be due under any such plans. 

 (c) The Executive shall be entitled to an automobile allowance of $500 per month, to be paid in
accordance with the Company’s policy for paying automobile allowances as in effect from time to time. 
  
 (d) The Executive shall be entitled to other fringe benefits comparable to the benefits afforded to other executive employees of the Company, including
but not limited to reasonable sick leave and coverage under any health, dental, accident, hospitalization, disability, retirement, life insurance, 401(k), and annuity plans, programs or policies maintained by the Company. In addition, and without
limiting the foregoing, the Company shall provide the Executive with twenty working days of vacation per calendar year (pro rated for partial years) worked and including the period prior to the date hereof beginning on the date that the Executive
began providing consulting services to the Company), no more than thirty of which (in the aggregate) may be carried over from one year to the next. Notwithstanding anything to the contrary in this Agreement, for purposes of determining the number of
vacation days accrued by the Executive for the 2000 calendar year, the period prior to the date hereof, beginning on the date that the Executive began providing consulting services to the Company, shall be included. 
  
 (e) The Executive shall be entitled to reimbursement, in accordance with
Company policy, of all reasonable out-of-pocket expenses which he incurs on behalf of the Company in the course of performing his duties hereunder, subject to furnishing appropriate documentation of such expenses to the Company’s Chief
Executive Officer. 
  
 4. Covenant Not to Compete;
Nonsolicitation. 
  
 (a) Except as specifically set forth
in this Section 4, during the Period of Employment, the Executive will not engage, directly or indirectly, anywhere in the United States (including its territories, possessions and commonwealths) or Canada in any business which competes or could
reasonably be expected to compete with the Company and/or its affiliates and, for a period of one year after the termination of the Period of Employment, any business which competes or could reasonably be expected to compete with the Company and/or
its affiliates as of the date of termination; provided, however, that (i) the ownership by the Executive of less than 2% of the outstanding stock of any publicly traded corporation shall not be deemed solely by reason thereof to cause
the Executive to be engaged in any businesses being conducted by such publicly traded corporation; and (ii) the Company, at its sole discretion, may, by written notice to the Executive no more than six (6) months and no less than three (3) months
prior to the end of the two-year period described above, extend such two-year period for a third year, in which case the Company will be obligated to pay the Executive, quarterly in advance, at the rate of the Executive’s base salary in effect
on the last day of the Period of Employment, for such additional one-year non-compete period. If the final judgment of a court of competent jurisdiction declares that any term or provision of this Section 4(a) is invalid or unenforceable, the
parties agree that the court making the determination of invalidity or unenforceability shall have the power to reduce the scope, duration, or area of the term or provision, to delete specific words or phrases, or to replace any invalid or
unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified after
the expiration of the time within which the judgment may be appealed. 

 (b) During the Period of Employment and for a period of two years thereafter, the Executive will not,
directly or indirectly, either for himself or for any other person or entity (i) solicit (A) any employee of the Company or any affiliate of the Company to terminate his or her employment with the Company or such affiliate during his or her
employment with the Company or such affiliate or (B) any former employee of the Company or an affiliate of the Company for a period of one year after such individual terminates his or his employment with the Company or such affiliate, (ii) solicit
any customer or client of the Company or any such affiliate (or any prospective customer or client of the Company or such affiliate) as of the termination of the Period of Employment to terminate its relationship with the Company or such affiliate,
or do business with any third parties, or (iii) take any action that is reasonably likely to cause injury to the relationships between the Company or any such affiliate or any of their respective employees and any lessor, lessee, vendor, supplier,
customer, distributor, employee, consultant or other business associate of the Company or any such affiliate as such relationship relates to the Company’s or such affiliate’s conduct of its business. 
  
 5. Covenant Not to Disclose Information. The Executive agrees
that during the Period of Employment and thereafter, he will not use or disclose, other than to another employee of the Company, qualified by the Company to receive that information in the normal course of business, any then confidential information
or trade secrets of the Company or any affiliate of the Company which were made known to him by the Company, its officers or employees or affiliates, or learned by him while in the Company’s employ, without the prior written consent of the
Company, and that upon termination of his employment for any reason, he will promptly return to the Company any and all properties, records, figures, calculations, letters, papers, drawings, schematics or copies thereof or other confidential
information of the Company and its affiliates of any type or description. It is understood that the term “trade secrets” as used in this Agreement is deemed to include, without limitation, lists of the Company’s and its
affiliates’ respective customers, information relating to their practices, know-how, processes and inventions, and any other information of whatever nature which gives the Company or any affiliate an opportunity to obtain an advantage over its
competitors who do not have access to such information. 
  
 6.
Remedy at Law Inadequate. The Executive acknowledges that any remedy at law for breach of any of the restrictive covenants (Sections 4 and 5) contained in this Agreement would be inadequate and the Company shall be entitled to
injunctive relief in the event of any such breach. 
  
 7.
Inventions and Improvements. With respect to any and all inventions (as defined in Section 7(e) below) made or conceived by the Executive, whether or not during his hours of employment, either solely or jointly with others, during the
Period of Employment, without additional consideration: 
  
 (a)
The Executive shall promptly inform the Company of any such invention. 
  
 (b) Any such invention, whether patentable or not, shall be the property of the Company, and the Executive hereby assigns and agrees to assign to the Company all his rights to any such invention, and to any United States and/or foreign
letters patent granted upon any such invention or any application therefor. 

 (c) The Executive shall apply, at the Company’s request and expense, for United States and/or
foreign letters patent either in the Executive’s name or otherwise as the Company may desire. 
  
 (d) The Executive shall acknowledge and deliver promptly to the Company, without charge to the Company but at its expense, all sketches, drawings, models
and figures and other information and shall perform such other acts, such as giving testimony in support of his inventorship, as may be necessary in the opinion of the Company to obtain and maintain United States and/or foreign letters patent and to
vest the entire right and title thereto in the Company. 
  
 (e)
For purposes of this Section, the term “invention” shall be deemed to mean any discovery, concept or idea (whether patentable or not), including but not limited to processes, methods, formulas, techniques, hardware developments and
software developments, as well as improvements thereof or know-how related thereto, (i) concerning any present or prospective activities of the Company and its affiliates and (ii) (A) which the Executive becomes acquainted with as a result of his
employment by the Company, (B) which results from any work he may do for, or at the request of, the Company or any of its affiliates, (C) which relate to the Company’s or any affiliates’ business or actual or demonstrably anticipated
research and development, or (D) which are developed in any part by use of the Company’s or any such affiliates’ equipment, supplies, facilities or trade secrets. 
  
 The parties hereto agree that the covenants and agreements contained in this Section 7 are, taken as a whole, reasonable in their scope and
duration, and no party shall raise any issue of the reasonableness of the scope or duration of any such covenants in any proceeding to enforce any such covenants. 
  
 8. Termination of Employment. 
  
 (a) The Executive’s Period of Employment hereunder may not be terminated prior to the expiration of the Term except in
accordance with the provisions of this Section. 
  
 (b) The
Executive’s Period of Employment may be terminated by the Company with or without Cause or by the Executive with or without Good Reason (as defined in subsection (e)). For purposes of this Agreement, “Cause” means that termination
occurs in connection with a determination, made at a meeting of the Board of Directors at which the Executive (and, at the Executive’s option, his counsel) shall have had a right to participate, that the Executive has (i) committed an act of
gross negligence or willful misconduct, or a gross dereliction of duty, that has materially and adversely affected the overall performance of his duties hereunder; (ii) committed fraud upon the Company in his capacity as an employee hereunder; (iii)
been convicted of, or pled guilty (or nolo contendere) to, a felony that the Board of Directors, acting in good faith, determines is or would reasonably be expected to have a material adverse effect upon the business, operations, reputation,
integrity, financial condition or prospects of the Company; (iv) any material breach by the Executive of the terms hereof; (v) failure to follow instructions from a person authorized to give them pursuant to Section 1(d) above that is lawful and not
inconsistent with the terms hereof; (vi) the Executive’s habitual drunkenness or habitual substance abuse; (vii) civil or criminal violation of any state or federal government statute or regulation, or of any state or federal law relating to
the workplace environment (including without limitation laws relating to sexual harassment 

 or age, sex or other prohibited discrimination), or any violation of any Company policy adopted in
respect of any of the foregoing; or (viii) a failure by the Executive to meet the minimum objectives established in the annual “Memry Sharing Plan” to receive any bonus pursuant to Section 3(b) above with respect to two consecutive fiscal
years. A termination for Cause must be accompanied by a written notice to that effect. If the Executive’s employment is terminated by the Company for Cause or by the Executive without Good Reason, the Executive shall be paid his base salary
through the date of his termination and any unreimbursed business expenses in accordance with Section 3(e) hereof (the “Accrued Obligations”). 
  
 (c) If the Executive dies, the Period of Employment shall terminate effective at the time of his death; provided, however, that such
termination shall not result in the loss of any benefit or rights which the Executive may have accrued through the date of his death. If the Period of Employment is terminated prior to the expiration of the Term due to the Executive’s death,
the Company shall make a severance payment to the Executive’s legal representatives equal to the Executive’s regular base salary payments through the end of the month in which such death occurs and any Accrued Obligations. In addition, the
Company shall make a severance payment to the Executive’s legal representatives equal to the Executive’s target bonus described in Section 3(b), pro rated for the portion of such fiscal year completed prior to the Executive’s death;
provided, however, that such pro rated portion of the Executive’s target bonus shall be paid to the Executive’s legal representatives following the completion of such fiscal year at the time similar bonuses are paid to other
employees of the Company. 
  
 (d) If the Executive becomes
disabled, the Period of Employment may be terminated, at the Company’s option, at the end of the calendar month during which his disability is determined; provided, however, that such termination shall not result in the loss of any benefits or
rights which the Executive may have accrued through the date of his disability. If the Period of Employment is terminated prior to the expiration of the Term due to the Executive’s disability, the Company shall make a severance payment to the
Executive or his legal representative equal to the Executive’s regular salary payments for a period of six (6) months from the date of such termination or, if sooner, until payments begin under any disability insurance policy maintained by the
Company for the benefit of the Executive. For the purposes of this section, the definition of “disability” shall be the same as the definition of a “permanent disability” contained in any long-term disability insurance policy
maintained by the Company in effect at the time of the purported disability, or last in effect, if no policy is then in effect. 
  
 (e) If the Executive’s Period of Employment is terminated by the Executive for “Good Reason,” as hereinafter defined, or is terminated by
the Company without cause (and the Company may terminate the Period of Employment without cause at any time) other than at the end of the Term, then, in addition to the other rights to which the Executive is entitled upon a termination as provided
for herein, the Executive shall also be entitled to a lump-sum payment equal to the sum of (i) 50% of the Executive’s annual base salary, at the rate of salary in effect immediately prior to the effective date of such termination (without
regard to any purported or attempted reduction of such rate by the Company), plus (ii) 50% of the Executive’s bonus otherwise payable for the fiscal year during which termination occurs. For purposes of this Agreement, the term “Good
Reason” shall mean: (i) the failure by the Company to observe or comply with any of the provisions of this Agreement if such failure has not been cured within ten (10) days after written notice thereof has been given by the Executive to the
Company; or (ii) at the 

 election of the Executive, upon a Change in Control of the Company, as defined in Section 10(f) (which
election can be made at any time upon thirty (30) days’ prior written notice given within two (2) years following the date on which the Change in Control of the Company occurred) if, subsequent to such Change in Control, there is a material
diminution in the position, duties and/or responsibilities of the Executive. 
  
 9. Effect of Termination. Upon termination of the Executive’s employment for any reason whatsoever, all rights and obligations of the parties under this Agreement shall cease, except that the
Executive shall continue to be bound by the covenants set forth in Sections 4, 5, 6 and 7 hereof, and the Company shall be bound to pay to the Executive accrued compensation, including salary and other benefits, to the date of termination and any
severance payments which may be owed under the provisions of Section 8 hereof. 
  
 10. Miscellaneous. 
  
 (a) This Agreement may not be assigned by the Executive. The Company may assign this Agreement in connection with a Change in Control the Company. 
  
 (b) In the event that any provision of this Agreement is found by a court of competent jurisdiction to be invalid or unenforceable, such provision shall
be, and shall be deemed to be, modified so as to become valid and enforceable, and the remaining provisions of this Agreement shall not be affected. 
  
 (c) This Agreement shall be governed by and construed in accordance with the laws of the State of Connecticut. 
  
 (d) No modification of this Agreement shall be effective unless in a writing
executed by both parties. 
  
 (e) This Agreement constitutes the
entire agreement of the parties with respect to the subject matter hereof, and supercedes all prior agreements, representations and promises by either party or between the parties, including without limitation, the Offer Letter. 
  
 (f) For purposes of this Agreement, “Change in Control of the
Company” shall mean: (i) any merger or consolidation or other corporate reorganization of the Company in which the Company is not the surviving entity; or (ii) any sale of all or substantially all of the Company’s assets, in either a
single transaction or a series of transactions; or (iii) a liquidation of all or substantially all of the Company’s assets; or (iv) a change within one twelve-month period of a majority of the directors constituting the Company’s Board of
Directors at the beginning of such twelve-month period; or (v) if a single person or entity, or a related group of persons or entities, at any time acquires beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Securities
Exchange Act of 1934, as amended) of 25% or more of the Company’s outstanding voting securities; unless, (x) with respect to any event described in clauses (i) through (v), the Executive agrees in writing, prior to the consummation of the event
giving rise to the Change in Control of the Company, that such event or events does not for purposes of this Agreement constitute a Change in Control of the Company, or (y) with respect to clause (iv), the change of directors is approved by the
Board of Directors as constituted prior to such change. 

 IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the date first above written.

  

			
	 MEMRY CORPORATION

		
	 By:
	 	 /s/    James G. Binch

	 Name:
	 	 James G. Binch

	 Title:
	 	 President & CEO

	
	 Dean Tulumaris:

		
	 	 	 /s/    Dean Tulumaris

		
	 	 	 5/21/04

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}]]