Document:

exv10w2

Exhibit 10.2

NETEZZA CORPORATION

Director Restricted Stock Agreement

     This Director Restricted Stock Agreement is made between Netezza Corporation
(the “Company”)
and                                         
(the “Recipient”) as of                                         
(the “Grant Date”).

     1. Grant of Restricted Shares.

          (a) In consideration of the Recipient’s service as a director of the Company, the Company is
granting to the Recipient, as of the Grant Date,                      shares of restricted common stock of the
Company (the “Restricted Shares”). The number of Restricted Shares being granted represents
$60,000 divided by the closing price of the common stock of the Company on NYSE Arca on the Grant
Date. The Restricted Shares are being granted pursuant to the provisions of the Company’s 2007
Stock Incentive Plan (the “Plan”) and are subject to the terms and conditions contained in this
Restricted Stock Agreement, including the forfeiture provisions set forth in Section 3 of this
Agreement, the deferred delivery provisions set forth in Section 4 of this Agreement, and the
restrictions on transfer set forth in Section 5 of this Agreement.

          (b) As promptly as practicable following the Grant Date, the Company shall issue one or more
certificates in the name of the Recipient for the Restricted Shares. Such certificate(s) shall be
held on behalf of the Recipient by the Secretary of the Company until the Delivery Date (as defined
in Section 4 below). The Secretary shall hold such certificate(s) in accordance with the terms of
the Joint Escrow Instructions in the form attached to this Agreement as Exhibit A, which
shall be executed by the Company, the Recipient and the Secretary as escrow agent upon the
execution of this Agreement. In connection with the execution of the Joint Escrow Instructions,
the Recipient shall deliver to the escrow agent a stock assignment duly endorsed in blank.

     2. Vesting. The Restricted Shares shall vest upon the earlier of (a) the first
anniversary of the Grant Date and (b) immediately prior to an Acquisition (as defined below) of the
Company. For purposes of this Agreement, the term “Acquisition” shall mean (i) any merger or
consolidation in which (A) the Company is a constituent party or (B) a subsidiary of the Company is
a constituent party and the Company issues shares of its capital stock pursuant to such merger or
consolidation (except, in the case of both clauses (A) and (B) above, any such merger or
consolidation involving the Company or a subsidiary in which the outstanding capital stock of the
Company immediately prior to such merger or consolidation is converted into or continues to
represent, immediately following such merger or consolidation, at least 51% by voting power of the
capital stock of (I) the surviving or resulting corporation or (II) if the surviving or resulting
corporation is a wholly owned subsidiary of another corporation immediately following such merger
or consolidation, of the parent corporation of such surviving or resulting corporation) or (ii) the
sale or transfer, in a single transaction or series of related transactions, of outstanding capital
stock representing at least 51% of the voting power of the outstanding capital stock of the Company
immediately following such transaction or (iii) the sale of all or substantially all of the assets
of the Company; provided that such Acquisition event also constitutes a “change in the
ownership or effective control of a corporation or a change in the ownership of a substantial
portion of the assets of a corporation,” as defined for purposes of Section 409A of the Internal
Revenue Code of 1986, as amended, and the guidance issued thereunder (“Section 409A”).

 

 

     3. Forfeiture of Unvested Restricted Shares Upon Termination of Director Service. In
the event that the Recipient ceases to serve as a director of the Company for any reason or no
reason prior to the vesting of the Restricted Shares, the Restricted Shares shall be forfeited
immediately and automatically to the Company, without the payment of any consideration to the
Recipient, effective as of such termination of director service. For purposes of clarification, if
the cessation of the Recipient’s service as a director of the Company occurs in connection with the
closing of an Acquisition, the Restricted Shares shall be deemed to vest immediately prior to such
cessation of service and shall not be forfeited. The Recipient hereby authorizes the Company to
take any actions necessary or appropriate to cancel any certificate(s) representing forfeited
Restricted Shares and transfer ownership of such forfeited Restricted Shares to the Company. The
Recipient shall have no further rights with respect to any Restricted Shares that are so forfeited.

     4. Distribution of Shares; Deferral of Delivery. The Secretary shall deliver to the
Recipient a certificate representing the vested Restricted Shares upon the earlier of (a) such time
as the Recipient ceases to serve as a director of the Company provided that such cessation
constitutes a “separation from service” as defined in Section 409A and (b) an Acquisition of the
Company (the first of such events, the “Delivery Date”). Notwithstanding any provision of this
Agreement or the Plan to the contrary, (x) neither the Company nor the Recipient may accelerate or
defer the delivery of the Restricted Shares and (y) in the event that the Recipient is a “specified
employee” within the meaning of Section 409A upon his or her “separation from service”, then the
Delivery Date shall be delayed until the date that is six months and one day after the separation
from service.

     5. Restrictions on Transfer. The Recipient shall not sell, assign, transfer, pledge,
hypothecate or otherwise dispose of, by operation of law or otherwise (collectively “transfer”) any
Restricted Shares, or any interest therein, until the Delivery Date. The Company shall not be
required (i) to transfer on its books any of the Restricted Shares which have been transferred in
violation of any of the provisions of this Agreement or (ii) to treat as owner of such Restricted
Shares or to pay dividends to any transferee to whom such Restricted Shares have been transferred
in violation of any of the provisions of this Agreement.

     6. Restrictive Legends. Prior to the Delivery Date, all certificates representing
Restricted Shares shall have affixed thereto a legend in substantially the following form, in
addition to any other legends that may be required under applicable law:

     “These shares of stock are subject to forfeiture provisions and restrictions on transfer set
forth in a certain Restricted Stock Agreement between the corporation and the registered owner of
these shares (or his or her predecessor in interest), and such Agreement is available for
inspection without charge at the office of the Secretary of the corporation.”

     7. Rights as a Shareholder. Except as otherwise provided in this Agreement, for so
long as the Recipient is the registered owner of the Restricted Shares, the Recipient shall have
all rights as a shareholder with respect to the Restricted Shares, whether vested or unvested,
including, without limitation, any rights to receive dividends and distributions with respect to
the Restricted Shares and to vote the Restricted Shares and act in respect of the Restricted Shares
at any meeting of shareholders. Any dividends shall be paid to the Recipient at the same time as

 

 

dividends are paid to stockholders generally, provided that in any case, such dividends shall
be paid to the Recipient no later than two and a half months after the close of the calendar year
in which such dividends are declared and paid.

     8. Provisions of the Plan. This Agreement is subject to the provisions of the Plan, a
copy of which is furnished to the Recipient with this Agreement.

     9. Acknowledgments. The Recipient acknowledges that he or she is responsible for
obtaining the advice of the Recipient’s own tax advisors with respect to the issuance of the
Restricted Shares and the Recipient is relying solely on such advisors and not on any statements or
representations of the Company or any of its agents with respect to the tax consequences relating
to the Restricted Shares. The Recipient understands that the Recipient (and not the Company) shall
be responsible for the Recipient’s tax liability that may arise in connection with the issuance,
vesting, delivery and/or disposition of the Restricted Shares. The Recipient acknowledges that he
or she has decided not to make an election under Section 83(b) of the Internal Revenue Code, as
amended, with respect to the issuance of the Restricted Shares.

     10. Miscellaneous.

          (a) Authority of Compensation Committee. In making any decisions or taking any
actions with respect to the matters covered by this Agreement, the Compensation Committee shall
have all of the authority and discretion, and shall be subject to all of the protections, provided
for in the Plan. All decisions and actions by the Compensation Committee with respect to this
Agreement shall be made in the Compensation Committee’s discretion and shall be final and binding
on the Recipient.

          (b) Recipient’s Acknowledgments. The Recipient acknowledges that he or she has read
this Agreement, has received and read the Plan, and understands the terms and conditions of this
Agreement and the Plan.

	 	 	 	 	 
	 	NETEZZA CORPORATION

 	 
	 	By:  	

 	 
	 	 	Name:  	Patrick J. Scannell, Jr. 	 
	 	 	Title:  	Sr. Vice President & CFO 	 
	 

Accepted and Agreed:

 

 

 

Exhibit A

Netezza Corporation

Joint Escrow Instructions

[DATE]

Corey C. DuFresne

Secretary

Netezza Corporation

26 Forest St.

Marlborough, MA 01752

Dear Sir:

     As Escrow Agent for Netezza Corporation, a Delaware corporation, and its successors in
interest under the Restricted Stock Agreement (the “Agreement”) of even date herewith, to which a
copy of these Joint Escrow Instructions is attached (the “Company”), and the undersigned person
(“Holder”), you are hereby authorized and directed to hold the documents delivered to you pursuant
to the terms of the Agreement in accordance with the following instructions:

     1. Appointment. Holder irrevocably authorizes the Company to deposit with you any
certificates evidencing Restricted Shares (as defined in the Agreement) to be held by you hereunder
and any additions and substitutions to said Restricted Shares. For purposes of these Joint Escrow
Instructions, “Restricted Shares” shall be deemed to include any additional or substitute property.
Holder does hereby irrevocably constitute and appoint you as his attorney-in-fact and agent for
the term of this escrow to execute with respect to such Restricted Shares all documents necessary
or appropriate to make such Restricted Shares negotiable and to complete any transaction herein
contemplated. Subject to the provisions of this Section 1 and the terms of the Agreement, Holder
shall exercise all rights and privileges of a stockholder of the Company while the Restricted
Shares are held by you.

     2. Forfeiture. Upon any forfeiture of the Restricted Shares to the Company pursuant
to the Agreement, the Company shall give to you a written notice of such forfeiture. Upon receipt
of such notice, you are directed to date the stock assignment form or forms necessary for the
transfer of the Restricted Shares to the Company, and to deliver the same, together with the
certificate(s) evidencing the Restricted Shares, to the Company.

     3. Delivery. The Company shall give you prompt written notice of the occurrence of a
Delivery Date. Promptly following the Delivery Date, and in any event within 30 days thereof, you
shall deliver the certificate(s) representing the Restricted Shares to Holder. Holder shall have
no right to withdraw from this escrow any Restricted Shares until the Delivery Date.

     4. Duties of Escrow Agent.

          (a) These Joint Escrow Instructions set forth your sole duties with respect to any and all
matters pertinent hereto and no implied duties or obligations shall be read into these

 

 

Joint Escrow
Instructions against you. Your duties hereunder may be altered, amended, modified or revoked only
by a writing signed by all of the parties hereto. You may rely and shall be protected in relying
or refraining from acting on any instrument reasonably believed by you to be genuine and to have
been signed or presented by the proper party or parties. You shall not be personally liable for
any act you may do or omit to do hereunder as Escrow Agent or as attorney-in-fact of Holder while
acting in good faith and in the exercise of your own good judgment, and any act done or omitted by
you pursuant to the advice of your own attorneys shall be conclusive evidence of such good faith.

          (b) You are hereby expressly authorized to disregard any and all warnings given by any of the
parties hereto or by any other person or entity, excepting only orders or process of courts of law,
and are hereby expressly authorized to comply with and obey orders, judgments or decrees of any
court. If you are uncertain of any actions to be taken or instructions to be followed, you may
refuse to act in the absence of an order, judgment or decrees of a court. In case you obey or
comply with any such order, judgment or decree of any court, you shall not be liable to any of the
parties hereto or to any other person or entity, by reason of such compliance, notwithstanding any
such order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated
or found to have been entered without jurisdiction.

          (c) You shall not be liable in any respect on account of the identity, authority or rights of
the parties executing or delivering or purporting to execute or deliver the Agreement or any
documents or papers deposited or called for hereunder. You shall be entitled to employ such legal
counsel and other experts as you may deem necessary properly to advise you in connection with your
obligations hereunder and may rely upon the advice of such counsel.

          (d) Your rights and responsibilities as Escrow Agent hereunder shall terminate if (i) you
cease to be Secretary of the Company or (ii) you resign by written notice to each party. In the
event of a termination under clause (i), your successor as Secretary shall become Escrow Agent
hereunder; in the event of a termination under clause (ii), the Company shall appoint a successor
Escrow Agent hereunder.

          (e) The Company shall indemnify you and hold you harmless against any and all damages, losses,
liabilities, costs, and expenses, including attorneys’ fees and disbursements, (including without
limitation the fees of counsel retained pursuant to Section 2(c) above), for anything done or
omitted to be done by you as Escrow Agent in connection with this Agreement or the performance of
your duties hereunder, except such as shall result from your gross negligence or willful
misconduct.

     5. Notice. Any notice required or permitted hereunder shall be given in writing and
shall be deemed effectively given upon personal delivery or upon deposit in the United States Post
Office, by registered or certified mail with postage and fees prepaid, addressed to each of the
other parties thereunto entitled at the following addresses, or at such other addresses as a party
may designate by ten days’ advance written notice to each of the other parties hereto.

	 	 	 	 
	 	COMPANY:

	 	Notices to the Company shall be sent to 
the address set
forth in the salutation
 hereto, Attn: President

 

 

	 	 	 	 
	 	HOLDER:

	 	Notices to Holder shall be sent to the 
address set forth
below Holder’s 
signature below.
	 
	 	ESCROW AGENT:

	 	Notices to the Escrow Agent shall be sent 
to the address
set forth in the salutation
 hereto.

	 	 	 	 	 
	 	Very truly yours,

Netezza Corporation

 	 
	 	By:  	Patrick J. Scannell, Jr.
 	 
	 	 	Title: Sr. Vice President & CFO 	 
	 	 	 	 
	 

HOLDER:

 

(Signature)

 

Print Name

Address:

 

 

Date Signed:

 

ESCROW AGENT:

Corey C. DuFresneExhibit 10.1

Exhibit 10.1

GTSI CHANGE OF CONTROL AGREEMENT

This Change of Control Agreement (“Agreement”) is entered into as of September 1, 2009 (the
“Effective Date”), by and between Todd Leto (“Executive”) and GTSI Corp., a Delaware corporation
(the “Company” or “GTSI”).

RECITALS

R1. The Company may from time to time consider the possibility of being acquired or otherwise
controlled by another individual or entity. The Company’s board of directors (the “Board”)
recognizes that such consideration can be a distraction to Executive and can cause Executive to
consider alternative employment opportunities. The Board has determined that it is in the best
interests of the Company and its stockholders to assure that the Company will have Executive’s
continued dedication and objectivity, notwithstanding the possibility, threat or occurrence of a
Change of Control (as defined below).

R2. The Board believes that it is imperative, without changing the nature of the at-will
employment relationship between Executive and GTSI, to provide Executive upon a Change of Control
event with reasonable financial security and incentive and encouragement to remain employed by the
Company’s employment notwithstanding the possibility of a Change of Control.

NOW, THEREFORE, in consideration of the mutual promises contained herein, and for good and
valuable other consideration, the receipt and adequacy of which is hereby acknowledged, Executive
and GTSI, each intending to be legally bound, agree as follows:

1. Definition. The capitalized terms used but not defined in Sections 1 through 5 below
shall have the meanings ascribed to them in Exhibit A.

2. Change of Control Benefits.

(a) Change of Control Event. If a Change of Control occurs while Executive is
employed by the Company on a full time basis, the following, subject to the terms and conditions
hereof, shall apply:

(i) Accelerated Vesting. On the date that the Change of Control occurs, any unvested
stock awards, whether in the form of restricted stock, stock settled appreciation rights, stock
options, or any other form of unvested stock awards granted by Company to Executive shall become
immediately vested and exercisable as to the number of shares that would have otherwise vested
before the fifth anniversary of the date of the Change of Control had Executive remained employed
by Company during such period.

 

 

 

(ii) Employment Termination. If (x) Executive’s employment with the Company is
terminated by the Company without Cause during the Change of Control Period or (y) Executive
resigns as an employee of the Company for Good Reason during the Change of Control Period, or
events leading to Executive’s resignation for Good Reason are effected in anticipation of a Change
of Control, including an attempt by the Company or its successor to avoid the Company’s or its
successor’s obligations under this Agreement:

(1) The Company will pay to Executive, commencing with the Company’s first standard full
payroll period after the effective date of such termination of employment (“Termination Date”),
substantially equal installments of severance payments, subject to standard withholdings and
deductions, in an aggregate cumulative amount equal to Executive’s Total Severance Amount during
the period commencing on the Termination Date and ending on the 90th day after the first
anniversary of the Termination Date (the “15-Month Severance Period”). Such severance installments
will be payable by the Company during the 15-Month Severance twice a month on the Company’s
standard payroll schedule. Notwithstanding the foregoing, the severance installments payable
during the first six months after the Termination Date shall not exceed two times the maximum
amount that may be taken into account under a qualified retirement plan under Section 401(a)(7) of
the Internal Revenue Code of 1986, as amended (the “Code”), for the year in which the Termination
Date occurs. Any portion of the severance installments scheduled but not payable under this
Section 2(a)(ii)(1) during the first six months after the Termination Date because of the
immediately preceding sentence shall be paid in a lump sum with the first severance installment due
after the end of such six-month period.

(2) The Company will provide, at its expense, Executive with continued group health insurance
benefits (medical, dental and vision) for Executive and Executive’s eligible dependents under the
Consolidated Omnibus Budget Reconciliation Act of 1986, as amended (“COBRA”), for a period ending
on the earlier of (x) the first anniversary of the Termination Date or (y) the date on which
Executive becomes gainfully employed again.

(3) Any unvested stock awards, whether in the form of restricted stock, stock settled
appreciation rights, stock options, or any other form of unvested stock award granted by the
Company to Executive shall upon the Termination Date become immediately vested and exercisable as
to the number of shares that would vest during the 15-Month Severance. Notwithstanding the
foregoing, if the Termination Date is prior to the actual date on which the Change of Control
occurs, the exercise period for such stock awards, and all existing stock awards, shall be extended
to cover such Change of Control date.

(b) Notwithstanding anything herein to the contrary, prior to Executive having the right to
receive, and in exchange for, the severance compensation, benefits and stock award vesting
acceleration provided in Section 2(a), to which Executive would not otherwise be entitled,
Executive shall first enter into and execute and deliver to the Company a release and obligation
agreement in the form of Exhibit B attached hereto (the “Release”) upon Executive’s termination of
employment with the Company. Unless the Release is executed by Executive and delivered to the
Company within 21 days after the Termination Date, Executive will not be entitled to (i) any
severance benefits provided under this Agreement, (ii) acceleration, if any, of Executive’s stock
awards as provided in this Agreement and (iii) Executive’s rights in such stock awards following
the Termination Date will only be to the extent provided under their original terms in accordance
with the applicable stock option or stock incentive plan and award agreements.

 

2

 

3. Gross-up Payment.

(a) If it is determined that any payment or distribution by the Company to or for the benefit
of Executive in accordance with Section 2 (a “Payment”) would be subject to the excise tax imposed
by Code Section 4999, Executive will be entitled to receive an additional payment in an amount such
that, after payment by Executive of the excise tax imposed by Code Section 4999 and regular federal
and state income taxes on the Gross-up Payment, Executive retains an amount of the Gross-up Payment
equal to the excise tax imposed upon the Payment (a “Gross-up Payment”). Executive and the Company
shall use commercially reasonable efforts to reach mutual agreement, with advice from each party’s
tax advisers, regarding the applicable excise tax and the amount of the Gross-up Payment.

(b) Executive will, within 30 days after his receipt thereof, notify the Company in writing of
any inquiry, claim or proceeding brought by the Internal Revenue Service, or other state or federal
taxing authority, that would reasonably be expected to result in a requirement that the Company pay
the Gross-up Payment.

4. At-Will Employment.

Notwithstanding anything herein to the contrary, (a) Executive’s relationship with the Company
shall continue to be an at-will employment relationship, (b) the Company and Executive each has the
right to terminate Executive’s employment with the Company at any time, with or without Cause, and
with or without notice, and (c) nothing herein confers upon Executive any right to continue in the
Company’s employ prior to, on or after a Change of Control occurs or in any other way limit the
Company’s rights, except as expressly stated herein, to discharge Executive as an employee at any
time prior to, on or after the date of a Change of Control for any reason whatsoever, with or
without Cause.

5. General Provisions.

(a) Notices. Any notices provided hereunder or otherwise in respect hereof will be in
writing and will be deemed effective upon personal delivery (including, personal delivery by
facsimile transmission), the day delivery is confirmed by a national courier, or the third day
after mailing by first class mail, to the Company at its primary office location and to Executive
at his address as listed on the Company payroll (which address may be changed by written notice).

(b) Severability. Whenever possible, each provision of this Agreement will be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be invalid or unenforceable in any respect under any applicable law or
rule in any jurisdiction, such invalidity or unenforceability will not affect any other provision
or any other jurisdiction, and such invalid or unenforceable provision will be reformed, construed
and enforced in such jurisdiction so as to render it valid and enforceable consistent with the
intent of the parties insofar as possible.

(c) Waiver. Any waiver of a breach of any provisions of this Agreement will not be
deemed to have waived any preceding or succeeding breach of the same or any other provision of this
Agreement.

(d) Entire Agreement; Survival. This Agreement (including Exhibits A and B)
supersedes any prior change of control agreement between the parties hereto. In addition, this
Agreement, together with Executive’s offer letter (if any), the GTSI Non-Disclosure Agreement
signed by Executive (if any) forms the complete and exclusive statement of Executive’s employment
with the Company, and will survive any Change of Control. This Agreement is entered into without
reliance on any promise, representation, statement or agreement other than those expressly
contained or incorporated herein, and it cannot be modified or amended except in a writing signed
by Executive and another duly authorized officer of the Company. The terms and conditions of the
Company’s Director and Officers Insurance Policy, that by their nature survive Executive’s
termination of employment with the Company, shall also survive any termination hereunder.

(e) Successors and Assigns. This Agreement is intended to bind and inure to the
benefit of and be enforceable by Executive, the Company and their respective successors, assigns,
heirs, executors and administrators, except that Executive may not assign any of his duties or
rights hereunder without the Company’s written consent of the Company.

 

3

 

(f) Attorneys’ Fees. If either party hereto brings any action to enforce the rights
hereunder, the prevailing party in any such action shall be entitled to recover such party’s
reasonable attorneys’ fees and costs incurred in connection with such action.

(g) Governing Law. All questions concerning the construction, validity and
interpretation of this Agreement will be governed by the law of the Commonwealth of Virginia as
applied to contracts made and to be performed entirely within Virginia.

(h) Construction of this Agreement and Certain Terms and Phrases.

(i) Unless the context of this Agreement otherwise requires, (1) words of any gender include
each other gender; (2) words using the singular or plural number also include the plural or
singular number, respectively; (3) the terms “hereunder,” “hereof,” “herein,” “hereby” and
derivative or similar words refer to this entire Agreement and not to any particular provision of
this Agreement; and (4) the terms “Section” and “Exhibit” without any reference to a specified
document refer to the specified Section and Exhibit, respectively, of this Agreement.

(ii) The words “including,” “include” and “includes” are not exclusive and shall be deemed to
be followed by the words “without limitation”; if exclusion is intended, the word “comprising” is
used instead.

(iii) The word “or” shall be construed to mean “and/or” unless the context clearly prohibits
that construction.

(iv) Whatever this Agreement refers to a number of days, such number shall refer to calendar
days.

(v) Executive and the Company have participated jointly in the negotiation and drafting of
this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement
shall be construed as if drafted jointly by the parties hereto and no presumption or burden of
proof shall arise favoring or disfavoring any party hereto by virtue of the authorship of any of
the provisions hereof.

(vi) The word “extent” in the phrase “to the extent” as used in this Agreement means the
degree to which a subject or other thing extends and such phrase does not simply mean “if.”

(vii) No provision of this Agreement is to be construed to require, directly or indirectly,
any person or entity to take any action, or to omit to take any action, to the extent such action
or omission would violate applicable laws.

IN WITNESS WHEREOF, Executive and the Company have executed this Agreement effective as of the
Effective Date above written.

	 	 	 	 	 	 	 	 	 
	Executive	 	 	 	 	 	GTSI Corp., a Delaware corporation
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	James J. Leto
	Print Name:

	 	 	 	 	 	 	 	Chief Executive Officer
	 

	 	 

	 	 	 	 	 	 

 

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GTSI Change of Control Provision, Exhibits

Exhibit A

Definitions of Certain Terms

The following definitions shall apply to the Agreement:

(a) “Cause” means Executive’s (i) willful and continued failure to substantially perform his duties
with the Company or willful and continued failure to substantially follow and comply with the
specific and lawful directives of the Company’s chief executive officer (the “CEO”), as reasonably
determined by the CEO (other than any such failure resulting from Executive’s incapacity due to
physical or mental illness or any such actual or anticipated failure after notice of resignation),
after a written demand for substantial performance is delivered to Executive by the CEO that
identifies in reasonable detail the manner in that the CEO believes Executive has not substantially
performed his duties, (ii) conviction of any felony involving moral turpitude; (iii) engaging in
illegal business practices or other practices contrary to the Company’s written policies; (iv)
misappropriation of assets of the Company; (v) continual or repeated insobriety or drug use; (vi)
continual or repeated absence for reasons other than disability or sickness; (vii) fraud; or (viii)
embezzlement of Company funds.

(b) “Change of Control” means (i) the acquisition by any individual or entity resulting in the
control of 50% or more of the outstanding voting securities of GTSI; (ii) a change in a majority of
the Board (other than through an “act of God”) if (x) the change is clearly related to an
acquisition referenced in clause (i) above, (y) the change occurred during any consecutive 365
days, and (z) the new Board members were elected by neither the Company’s stockholders nor by a
majority of the directors who were in office at the beginning of the respective 365-day period; or
(iii) the Company’s stockholders approve a merger or consolidation of the Company with any other
corporation (and the consummation thereafter), other than a merger or consolidation that would
result in the voting securities of the Company outstanding immediately prior thereto continuing to
represent 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.

(c) “Change of Control Period” means the period of time starting 180 days prior to the date on
which the Change of Control occurs and ending on the second anniversary of such date of Change of
Control.

(d) “Executive’s Total Severance Amount” means the sum of (i) the base salary, based on the rate
thereof as of the Termination Date, that would have otherwise been payable to Executive during the
15-Month Severance had he remained in the Company’s employment during such period and (ii) 125% of
Executive’s Targeted Cash Bonus.

(e) “Executive’s Targeted Cash Bonus” means, as of the respective Termination Date, the targeted
annual cash bonus, at 100% achievement, as had been most recently established by the Board for
Executive in respect of (i) the Company’s then current fiscal year or, (ii) if the Board has not as
of the Termination Date established Executive’s targeted annual cash bonus for the Company’s then
current year, the Company’s most recently completed fiscal year.

(f) “Good Reason” means any one of the following events, provided that (i) Executive has notified
the Company of the existence of the event within 60 days after its initial occurrence or existence,
(ii) the Company has not within 30 days after its receipt of the notice referenced in clause (i)
above remedied the matter in compliance with this Agreement and (iii) within 30 days after the
expiration of the 30-day period referenced in clause (ii) above, Executive tenders his resignation
to the Company: (1) any material diminution of Executive’s then existing annual base salary; (2)
any material diminution of Executive’s duties, responsibilities, authority, reporting structure,
titles or offices, (3) any material change in the geographic location at which Executive must
perform his services to the Company; or (4) any action or inaction by the Company that constitutes
a material breach of its obligations under this Agreement.

 

 

 

GTSI Change of Control Provision, Exhibits

Exhibit B

RELEASE AND OBLIGATION AGREEMENT

I understand that my position with GTSI Corp., a Delaware corporation (the “Company” or “GTSI”),
terminated effective                      (the “Separation Date”). The Company has agreed that if I
sign this Release and Obligation Agreement (“Release”) and deliver it to the Company, the Company
will, within 30 days after the Release Effective Date (as defined below), pay me certain severance
benefits (minus the standard withholdings and deductions) pursuant to the GTSI Change of Control
Agreement (the “Agreement”), dated as of                     , 200
 _____, between myself and the Company, and
any agreements incorporated therein by reference. I understand that I am not entitled to such
severance benefits unless and until I sign and comply with this Release. I further understand
that, regardless of whether I sign and deliver this Release, the Company will pay me all of my
accrued salary and paid time off through the Separation Date, to which I am entitled by law.

In consideration for the severance benefits I am receiving under the Agreement, I agree to the
following:

(a) Non-Solicitation of Executives. For the first, including to be legally bound, 183 days
after the Separation Date, I will not, without the prior written consent of GTSI’s chief executive
officer (or equivalent) solicit or attempt to solicit for employment for or on behalf of any
corporation, partnership, venture or other business entity any person who, as of the Separation
Date or within 183 days prior to that date, was employed by GTSI or any subsidiary thereof
(“Subsidiary”) as an officer, manager or employee and with whom I had material contact during the
course of his or her employment with GTSI or Subsidiary (whether or not such person would commit a
breach of contract).

(b) Non-Solicitation of Customers and Non-Disparagement. I owe GTSI a duty of loyalty, and
to preserve and protect, among other things, GTSI’s Confidential Information, as well as the
relationships of GTSI and its Subsidiaries with their current and potential customers and partners.
As a result, during the first 183 days after the Separation Date, I will not solicit or make any
statement or do any act intended to cause such customer or partner to make use of or obtain from
any person or business, services or goods that are similar or related to those offered by GTSI or
any Subsidiary; or discuss with any other GTSI Executive the current operations or formation and
future operations of any business competing with or intended to compete with GTSI or any
Subsidiary. I further agree, that my communications with any GTSI officer, customer, vendor,
supplier and any competitor and any person associated with any media that in any way relates to
GTSI or any Subsidiary or to directors, officers, management or employees of GTSI or any
Subsidiary: (i) will be truthful; and (ii) will not disparage or undermine the reputation or
business practices of GTSI or any Subsidiary or its directors, officers, management or employees of
GTSI or any Subsidiary.

(c) Release. I hereby release GTSI and each of its Subsidiaries and its officers,
directors, agents, attorneys, executives, stockholders and parents from any and all claims,
liabilities, demands, causes of action, attorneys’ fees, damages, or obligations of every kind and
nature, whether they are now known or unknown, arising at any time prior to the date I sign this
Release. This general release includes, but is not limited to: all federal and state statutory
and common law claims, claims related to my employment or the termination of my employment or
related to breach of contract, tort, wrongful termination, discrimination, harassment, defamation,
fraud, wages or benefits, or claims for any form of equity or compensation. Notwithstanding the
release in the preceding sentence, I am not releasing any right of indemnification, or Company
director and officer insurance protection, I may have for any liabilities and costs of defense
(including without limitation reasonable attorneys’ fees) arising from my actions within the course
and scope of my employment with the Company.

 

 

 

GTSI Change of Control Provision, Exhibits

(d) If I am 40 years of age or older as of the Separation Date, I am knowingly and voluntarily
waiving and releasing any rights I may have under the federal Age Discrimination in Employment Act
of 1967, as amended (“ADEA”). I also acknowledge that the consideration given for the waiver in
the above paragraph is in addition to anything of value to which I was already entitled. I have
been advised by this writing, as required by the ADEA that: (i) my waiver and release do not apply
to any claims that may arise after my signing of this Release; (ii) I should consult with an
attorney prior to executing this Release; (iii) I have 21 days (or 45 days in the event of a
related group termination) within which to consider this Release (although I may choose to
voluntarily execute this Release earlier); (iv) I have seven days following the execution of this
Release to revoke the Release; and (v) this Release will not be effective until the eighth day
after this Release has been signed by me and by the Company (“Release Effective Date”).

	 	 	 	 	 	 	 
	Agreed:
	 	 	 	 	 	 
	 

	 	 

Date
	 	 

[Name]

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