Document:

Unassociated Document

    AMENDED
      AND RESTATED

    HARRIS
      & HARRIS GROUP, INC

    EXECUTIVE
      MANDATORY RETIREMENT BENEFIT PLAN

    

    SECTION
      I 

     

    PURPOSE

     

    1.1    Purpose.
      The
      purpose of this Amended and Restated Harris & Harris Group, Inc. Executive
      Mandatory Retirement Benefit Plan (the “Plan”) is to provide those employees of
      Harris & Harris Group, Inc. who are required to retire pursuant to the
      Harris & Harris Group, Inc. Executive Mandatory Retirement Program with a
      nonforfeitable retirement benefit which will satisfy the requirements for
      exempting those employees from any prohibitions against mandatory retirement
      which might otherwise apply under any age discrimination laws applicable to
      such
      terminations of employment. This Plan was originally effective March 20, 2003
      and is hereby amended and restated effective January 1, 2005 for compliance
      with
      Code Section 409A. 

     

    SECTION
      II 

     

    DEFINITIONS

     

    2.1    Definitions.
      The
      following definitions shall apply for purposes of the Plan, unless a different
      meaning is plainly indicated by the context:

     

    (a)    Age
      Discrimination Acts
      shall
      mean, collectively, the federal Age Discrimination in Employment Act, 29 U.S.C.
      § 621 et seq., the New York State Human Rights Law, N.Y. Exec. Law § 290 et
      seq., the New York City Human Rights Law, § 8-107 and any other applicable law
      pertaining to age discrimination, as well as any regulations promulgated under
      any such law.

     

    (b)    Board
      shall
      mean the Board of Directors of the Company, as constituted from time to
      time.

     

    (c)    Code
      shall
      mean the Internal Revenue Code of 1986, as amended from time to
      time.

     

    (d)    Committee
      shall
      mean a committee to administer the Program which shall be comprised of all
      members of the Company’s Board of Directors serving from time to time who would
      be treated as “non-interested directors” for purposes of determining eligibility
      for service on the Board’s Audit Committee.

     

    (e)    Company
      shall
      mean Harris & Harris Group, Inc., and any successor to all or a major
      portion of its assets or business, which successor assumes the obligations
      of
      the Company under this Plan by operation of law or otherwise.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (f)    Effective
      Mandatory Retirement Date
      shall be
      the date on which an employee’s employment is actually terminated in a mandatory
      retirement pursuant to the Program (whether such date is the Initial Mandatory
      Retirement Date or a later date). 

     

    (g)    ERISA
      shall
      mean the Employee Retirement Income Security Act of 1974, as amended from time
      to time.

     

    (h)    Initial
      Mandatory Retirement Date,
      for an
      employee of the Company who has been designated as subject to the Program,
      shall
      be December 31 of the year in which the employee attains the age of 65 years
      (or
      December 31 of such later year as the two-year “bona fide executive or high
      policymaking position” employment requirement of the Program is first met by the
      employee); provided, however, that the employee’s mandatory retirement can be
      postponed in accordance with the Program.

     

    (i)    Mandatory
      Retirement Benefit Amount
      shall
      mean the lump sum equivalent of a nonforfeitable retirement benefit (within
      the
      meaning of, and calculated in accordance with, the Age Discrimination Acts)
      which will satisfy the requirements for exempting the Participant from any
      prohibitions against compulsory retirement under the Age Discrimination Acts
      immediately prior to the Participant’s Effective Mandatory Retirement Date. As
      of the original effective date of this Plan, the Mandatory Retirement Benefit
      Amount is the lump sum equivalent of an immediate nonforfeitable straight life
      annuity (with no ancillary benefits) of $44,000.

     

    (j)    Offsetting
      Benefit Amount
      shall
      mean the aggregate lump sum equivalent of those benefits to which a Participant
      is entitled outside of the Plan which are treated as immediate nonforfeitable
      retirement benefits pursuant to the Age Discrimination Acts. The Offsetting
      Benefit Amount shall be calculated by adjusting the relevant benefits to lump
      sum equivalents in accordance with the Age Discrimination Acts.

     

    (k)    Participant
      shall
      mean any employee of the Company who is being required to retire pursuant to
      the
      Harris & Harris Group, Inc. Executive Mandatory Retirement Program and
      participation shall begin immediately prior to the employee’s Effective
      Mandatory Retirement Date.

     

    (l)    Plan
      shall
      mean this Harris & Harris Group, Inc. Executive Mandatory Retirement Benefit
      Plan, as set forth in this plan instrument, as it may be amended from time
      to
      time.

     

    (m)    Plan
      Benefit
      shall
      mean the benefit payable to a Participant hereunder and calculated pursuant
      to
      Section 3.1 hereof.

     

    (n)    Program
      shall
      mean the Harris & Harris Group, Inc. Executive Retirement Program, as it may
      be amended from time to time, attached hereto as Exhibit A.

     

    
      
        
        

      

      
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          2
          -

        
          

        

      

      
        
        

      

    

     

    SECTION
      III

     

    BENEFITS

     

    3.1    Plan
      Benefit.
      Each
      Participant shall be entitled under this Plan to receive a Plan Benefit
      actuarially equivalent to the result obtained by reducing the Mandatory
      Retirement Benefit Amount by the Participant’s Offsetting Benefit Amount (if
      any), but only if such result is a positive amount. 

     

    3.2    Payment
      of Plan Benefit.
      

     

    (a)    The
      Plan
      Benefit shall be payable to the Participant in the form of a lump sum six months
      and one day after the Participant’s separation from service, provided that if
      the Participant is not a key employee as defined in Code Section 416 and as
      applicable under Code Section 409A, such benefit shall be paid 60 days after
      the
      participant's separation from service. Calculation of the lump sum benefit
      shall
      be made in accordance with the Age Discrimination Acts. A Participant's
      separation from service for this purpose occurs on the last day on which the
      Employee performs services for the Company (or any other entity considered
      a
      single employer with the Company under Section 414(b) or (c) of the Code)
      substantially on his regular, full-time schedule, if on that date both the
      Company and the Employee reasonably anticipate that (i) no further services
      will
      be performed thereafter, or (ii) the level of bona fide services performed
      after
      that date (as an employee or independent contractor, but not including service
      as a member of the Board of Directors of the Company) will permanently decrease
      to no more than 20% of the average level of bona fide services performed over
      the previous 36 months, or on such later date on which the parties first
      reasonably anticipate service has reduced in such manner.

     

    (b)    Section
      3.2(a) shall not apply to payment of Plan Benefits to a Participant whose
      Effective Mandatory Retirement Date was on or before December 31, 2004. The
      terms of the Plan prior to this Amendment shall control the timing of payment,
      except that neither the Company nor the Participant may adjust or change the
      timing of payment. 

     

    3.2    Vesting.
      Each
      Participant shall become completely vested in his or her Plan Benefit
      immediately prior to his or her Effective Mandatory Retirement Date and the
      Plan
      Benefit shall be nonforfeitable.

     

    SECTION
      IV

     

    ADMINISTRATION

     

    4.1    Administration.
      The
      Plan shall be administered by the Committee.

     

    4.2    Duties.
      The
      Committee shall perform the duties required, and shall have the powers
      necessary, to administer the Plan and carry out the provisions
      thereof.

     

    4.3    Powers.
      The
      powers of the Committee shall be as follows:

     

    
      
        
        

      

      
        -
          3
          -

        
          

        

      

      
        
        

      

    

     

    (a)    To
      determine any question arising in connection with the Plan, including factual
      matters, and its decision or action in respect thereof shall be final,
      conclusive and binding upon the Company and the Participants and any other
      individual interested herein;

     

    (b)    To
      engage
      the services of counsel or attorney (who may be counsel or attorney for the
      Company) and an actuary, if it deems necessary, and such other agents or
      assistants as it deems advisable for the proper administration of the Plan;
      and

     

    (c)    To
      receive from the Company and from Participants such information as shall be
      necessary for the proper administration of the Plan.

     

    4.4    Claims
      Procedure.
      Subject
      to the provisions of this Plan, the Committee shall make all determinations
      as
      to the right of any individual to a benefit. Any denial by the Committee of
      the
      claim for benefits under the Plan by a Participant or any other individual
      interested herein shall be stated in writing by the Committee and delivered
      or
      mailed to the Participant or such individual. Such notice shall set forth the
      specific reasons for the denial, written to the best of the Committee’s ability
      in a manner that may be understood without legal or actuarial counsel. In
      addition, the Committee shall afford to any Participant whose claim for benefits
      has been denied a reasonable opportunity for a review of the decision denying
      the claim.

     

    SECTION
      V

     

    NONALIENATION
      OF BENEFITS

     

    Neither
      the Participant nor any other individual shall have any right to assign or
      otherwise to alienate the right to receive payments under the Plan, in whole
      or
      in part.

     

    SECTION
      VI

     

    AMENDMENT
      AND TERMINATION

     

    The
      Company reserves the right at any time by action of the Board to terminate
      the
      Plan or to amend its provisions in any way. Notwithstanding the foregoing,
      no
      termination or amendment of the Plan may reduce the benefits payable under
      the
      Plan to the Participant if the Participant’s termination of employment with the
      Company has occurred prior to such termination of the Plan or amendment of
      its
      provisions.

     

    SECTION
      VII 

     

    MISCELLANEOUS

     

    7.1    No
      Right to Employment.
      This
      Plan shall not be construed as providing any Participant with the right to
      be
      retained in the Company’s employ or to receive any benefit not specifically
      provided hereunder.

     

    
      
        
        

      

      
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          4
          -

        
          

        

      

      
        
        

      

    

     

    7.2    No
      Effect on Other Compensation and Benefits.
      Nothing
      contained herein shall exclude or in any manner modify or otherwise affect
      any
      existing or future rights of any Participant to participate in and receive
      the
      benefits of any compensation, bonus, pension, life insurance, medical and
      hospitalization insurance or other employee benefit plan or program to which
      he
      or she otherwise might be or become entitled as an officer or employee of the
      Company.

     

    7.3    Governing
      Law.
      This
      Plan shall be construed in accordance with and governed by the laws of the
      State
      of New York, without regard to its conflicts of law principles.

     

    7.4    Status.
      This
      Plan is not intended to satisfy the requirements for qualification under Section
      401(a) of the Code. It is intended to be a nonqualified plan that is not subject
      to ERISA. The Plan shall be construed and administered so as to effectuate
      this
      intent.

     

    7.5    Plan
      Expenses; Plan Unfunded.
      All
      expenses of establishing and administering the Plan shall be paid by the
      Company. No individual interested herein shall have any interest in any specific
      assets of the Company by reason of the individual’s interest under the Plan, and
      such individuals shall have only the status of unsecured creditors of the
      Company with respect to any benefits that become payable under this Plan. The
      Company is not required to purchase any annuity from any third party to provide
      a Plan Benefit.

     

    7.6    Successors.
      The
      Company shall require any successor (whether direct or indirect, by purchase,
      merger, consolidation or otherwise) to all or substantially all of the business
      and/or assets of the Company to expressly assume the Company’s obligations
      hereunder in the same manner and to the same extent that the Company would
      be
      required to perform if no such succession had taken place.

     

    7.7    Withholding
      Requirements.
      Payment
      of benefits under this Plan shall be subject to applicable withholding
      requirements.

     

    IN
      WITNESS WHEREOF, the Company has caused this Agreement to be executed by its
      duly authorized officer as of January 1, 2005, but actually on the date set
      forth below

     

    
      	 	 	 
	 	HARRIS
&
              HARRIS GROUP, INC.
	 
 	 
 	 
 
	 	 	/s/ Douglas
              W. Jamison
	 	
              
Douglas
              W. Jamison, President 
	 	 
	 	Date: August
              2, 2007

    

     

    
      
        
        

      

      
        -
          5
          -

        
          

        

      

      
        
        

      

    

     

    HARRIS
      & HARRIS GROUP, INC.

    EXECUTIVE
      MANDATORY RETIREMENT PROGRAM

    

    1.    Employees
      Covered.
      Individuals who are employed by Harris & Harris Group, Inc. (the “Company”)
      in a bona fide executive or high policymaking position (as determined in
      accordance with the “Age Discrimination Acts”) and who are designated in the
      sole discretion of the “Committee” as subject to this Program are subject to
      automatic “mandatory retirement” upon and after December 31 of the year in which
      a designated individual attains the age of 65 years (or December 31 of such
      later year as the two-year employment position requirement set forth in the
      next
      sentence is first met). The designated individual must have been employed in
      such a bona fide executive or high policymaking position for at least the
      two-year period immediately preceding the effective mandatory retirement date.
      Notwithstanding the foregoing, the Committee may determine, in its sole
      discretion and on an annual basis beginning in the year in which the designated
      individual attains the age of 65 years and prior to December 31 of that year
      (or
      prior to December 31 of such later year as the two-year employment position
      requirement is first met), to postpone the then-governing mandatory retirement
      date for that individual for one additional year for the benefit of the
      Company.

     

    2.    Definitions.
      The
      following definitions shall apply for purposes of the Program, unless a
      different meaning is plainly indicated by the context:

     

    A.    “Age
      Discrimination Acts” shall mean, collectively, the federal Age Discrimination in
      Employment Act, 29 U.S.C. § 621 et seq., the New York State Human Rights Law,
      N.Y. Exec. Law § 290 et seq., the New York City Human Rights Law, § 8-107 and
      any other applicable law pertaining to age discrimination, as well as any
      regulations promulgated under any such law.

     

    B.    “Committee”
      shall mean a committee to administer the Program which shall be comprised of
      all
      members of the Company’s Board of Directors serving from time to time who would
      be treated as “non-interested directors” for purposes of determining eligibility
      for service on the Board’s Audit Committee.

     

    C.    “Company”
      shall mean Harris & Harris Group, Inc., a New York corporation, and any
      successor thereto.

     

    D.    “Mandatory
      retirement” shall have the meaning given “compulsory retirement” by and under
      the Age Discrimination Acts.

     

    E.    “Program”
      shall mean this Executive Mandatory Retirement Program, as it may be amended
      from time to time.Unassociated Document

     

    EXHIBIT
      10.1

     

     

     

    AGREEMENT
      AND GENERAL RELEASE AND WAIVER

     

    ANDRE
      MULLER, residing at 16 Hunting Hollow Ct., Dix Hills, NY 11746 (the “Employee”)
      and ALLIANCE DISTRIBUTORS HOLDING, INC., a Delaware corporation with an office
      at 1160 Commerce Avenue, Bronx NY 10462 (the “Company” or “Alliance”), on behalf
      of itself and its officers, directors, shareholders, employees, agents and
      parent, affiliates, predecessor, successor, subsidiary, and other related
      companies, and each of them jointly and severally (hereinafter singularly and
      collectively referred to as the “Company”), hereby enter into the following
      Agreement and General Release and Waiver (the “Agreement”), concerning the
      Employee’s resignation from the Company.

     

    1. The
      Employee confirms that on July 26, 2007 he resigned as a director, officer
      and
      employee of the Company and its subsidiaries and affiliates, and that he was
      thereafter given 21 days to consider this Agreement and decide for himself
      whether or not he wants to sign this Agreement.

     

    2.
      The
      Employee was offered the opportunity to consult with and negotiate through
      attorneys of his choice, concerning this Agreement and the implications of
      Employee signing or not signing the Agreement.

     

    3. The
      Employee has carefully considered other alternatives to executing this Agreement
      and has entered into this Agreement voluntarily and of the Employee’s own free
      will.

     

    4. The
      Employee is entitled to change his mind and revoke this Agreement within seven
      days after signing it. This Agreement will become effective only if Employee
      has
      not exercised his option to revoke the Agreement within seven days after its
      execution and Employee complies with paragraph eleven (11) of this
      Agreement.

     

    5. 
      If this
      Agreement becomes effective, Alliance will for the period to end on July 26,
      2008 pay to Employee amounts equal to the salary installments (net of
      withholding taxes) he would have received during this period at the rate of
      pay
      that applied prior to his resignation. In addition, if this Agreement becomes
      effective and if the Employee elects to continue medical coverage under the
      Company’s health insurance plan pursuant to COBRA, the Company will pay 50% of
      the cost of COBRA coverage for the period to end on July 26, 2008.

     

    6. The
      Employee acknowledges that he knows that there are various State and Federal
      laws which prohibit employment discrimination on the basis of age, sex, race,
      color, creed, national origin, marital status, religion, disability, veteran
      status, or other protected classifications and that these laws are enforced
      through the Federal Equal Employment Opportunity Commission, and various state,
      city, county and local human rights agencies. In particular, the Employee knows
      that he may have rights under the Federal Age Discrimination in Employment
      Act,
      which prohibits companies from discriminating against employees because of
      their
      age. In consideration for the Company making the payment described in paragraph
      five (5) of this Agreement, which the Employee is not
      otherwise entitled to receive, the Employee intends to voluntarily give up
      any
      rights he may have under these or any other laws with respect to him prior
      employment with the Company or termination of him employment, including him
      rights under the Age Discrimination in Employment Act. The Employee agrees
      that,
      as of the date of this Agreement, the Company has not (a) discriminated
      against him, (b) breached any express or implied contract with him, or
      (c) otherwise acted unlawfully toward him. In this regard, the Employee
      acknowledges he has received all compensation and benefits due him.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    7. In
      exchange for the money set forth in this Agreement, the Employee, his heirs,
      personal representatives, successors and assigns, hereby releases and discharges
      the Company, its successors, subsidiaries, and their officers, directors and
      employees (“Releasees”) from all claims, liabilities, demands or causes of
      action, known or unknown, arising out of or in any way connected with or related
      to the Employee’s employment and the termination thereof with the Company from
      the beginning of the world up to and including the effective date of this
      Agreement, except for rights granted under this Agreement and except for any
      indemnification rights under the Company’s certificate of incorporation and
      by-laws. This includes, but is not limited to, claims of entitlement to change
      of control payments or to options and SAR’s not referred to herein, wrongful
      discharge, breach of any implied or express contract, whether oral or written,
      fraud, misrepresentation, or any other tort. This also includes any claims
      based
      on any local, state or federal statute relating to age, sex, race, or any other
      form of discrimination such as, but not limited to, the Age Discrimination
      In
      Employment Act, Title VII of the Civil Rights Act of 1964, and other similar
      state and local anti-discrimination laws.

     

    8. Cooperation

     

    Employee
      agrees to provide Alliance from time to time telephone consultation, and if
      deemed necessary by Alliance, consultation in person at mutually agreeable
      times, which agreement on the part of Employee will not be unreasonably
      withheld, concerning his work for Alliance. For the avoidance of doubt, Alliance
      is not requiring any substantive work from Employee. The consultation relates
      exclusively to such matters as, for example, interpreting handwritten notes
      that
      may be illegible, locating hard copy or computer files, etc. Employee also
      agrees to promptly sign and return documents that require Employee's signature,
      and have such documents notarized and/or witnessed if required.

     

    Employee
      will for no compensation cooperate fully and at reasonable times with the
      Company and its subsidiaries in all litigations and regulatory proceedings
      on
      which the Company or any subsidiary seeks Employee’s assistance and as to which
      Employee had any knowledge or involvement. Without limiting the generality
      of
      the foregoing, Employee will be available to testify at such litigations and
      other proceedings, and will cooperate with counsel to the Company in preparing
      materials and offering advice in such litigations and other proceedings. Except
      as required by law and then only upon reasonable prior written notice to the
      Company, Employee will not in any way cooperate or assist any person or entity
      in any matter which is adverse to the Company or which is adverse to any person
      who at any time is or was an officer or director of the Company. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    9.
       
      Employee
      agrees that at no time will he disclose or use any confidential information
      received or acquired during the Employee’s employment, including but not limited
      to trade secrets and any proprietary information. This Section 9 may be enforced
      by injunction (without posting bond or other security), as well as by other
      remedies. Except as aforesaid, Employee may freely compete with the
      Company.

     

    10.
      Employee will promptly advise the Company in writing should he at any time
      be
      contacted by any person or entity (including, without limitation, any private
      investigator) who seeks any information whatsoever with respect to the Company,
      or any of its employees, directors or officers, or any of its products, services
      or procedures, and he will shall forthwith furnish to the Company a complete
      and
      accurate report of all communications by or with any such person or entity.
      Employee confirms and acknowledges that he is aware of no publicly undisclosed
      information regarding the Company or its officers or directors which may be
      material to investors in the Company, lenders to the Company, or licensing,
      rating or regulatory entities. "Publicly undisclosed information" means
      information which is not contained in periodic reports filed by the Company
      under the Securities Exchange Act of 1934. Except as otherwise required by
      law
      (and then only upon 10 days’ prior written notice to the Company), Employee
      party will not from and after the date hereof in any way or to any person,
      denigrate or derogate the Company or any of its subsidiaries, or any person
      who
      was at any time an employee, officer or director of the Company, or any
      products, services or procedures, whether or not such denigrating or derogatory
      statements shall be true and are based on acts or omissions which were learned
      or are learned by heretofore or from and after the date hereof or on acts or
      omissions which occurred at any time heretofore or which occur at any time
      from
      and after the date hereof, or otherwise.

     

    11.
       
      If he
      has not already done so, the Employee will forthwith return to the Company
      all
      Company property, proprietary documents and materials in the Employee’s
      possession. Such property, documents, and materials include, but are not limited
      to, an automobile, computer hardware, telephones, keys, correspondence, notes
      and notebooks, drawings, prints, photographs, tape recordings, marketing
      information, sales information, customer information, customer lists, computer
      software disks and other written, typed, printed or recorded materials to which
      the Employee had access or which the Employee developed during the course of
      his
      employment with the Company and all copies thereof. The Employee will forthwith
      provide the Company with an inventory of the Company’s property in his
      possession. 

     

    12.
       
      The
      Employee affirms that no promise, inducement or agreement not expressed in
      this
      Agreement has been made, and this Agreement contains the entire agreement of
      the
      parties.

     

    13.
       
      This
      Agreement does not constitute an admission by the Company of any wrongful action
      or violation of any federal or state statute or common law rights, including
      those relating to the provisions of any law or statute concerning employment
      actions, or any other possible or claimed violation of law or rights. The
      federal and state courts sitting in the State of New York shall have exclusive
      jurisdiction with respect to this Agreement. Trial by jury is
      waived.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    14.
       
      If a
      court of competent jurisdiction finds any provisions of this Agreement
      unenforceable under applicable law, the enforceability of all other provisions
      shall not be affected by such partial unenforceability, and the remainder shall
      continue to be binding and in full force and effect.

     

    15.
       
      The
      Employee hereby agrees and acknowledges that since July 26, 2007 he has no
      longer been employed by the Company and further agrees and acknowledges that
      he
      will make no further attempt, at any time, to seek employment with the Company
      and/or any affiliated company, subsidiary, or division.

     

    16. This
      Agreement shall not be interpreted in favor of or against either party on
      account of such party having drafted this Agreement.

     

    17. If
      any
      party to this Agreement breaches any of the terms of this Agreement, then that
      party shall pay to the non-defaulting party all of the non-defaulting party’s
      costs and expenses, including attorney’s fees, incurred by that party in
      enforcing the terms of this Agreement.

     

    18. This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      deemed an original and all of which shall together constitute one and the same
      Agreement.

     

    19. The
      parties shall execute any other instruments and/or documents that are reasonable
      or necessary to implement this Agreement.

     

    20. The
      Employee agrees to keep this Agreement confidential and not to reveal its
      contents to anyone except his attorney or his financial consultant.

     

    21. This
      Agreement constitutes the entire agreement between the Employee and the Company
      and it may only be modified, altered or changed in writing, signed by both
      the
      Company and the Employee. It may be signed in counterparts and by
      facsimile.

     

    22. This
      Agreement shall be subject to and governed by the laws of the State of New
      York.

     

    BY
      SIGNING THIS AGREEMENT AND GENERAL RELEASE AND WAIVER, THE EMPLOYEE STATES
      THAT:
      HE HAS READ IT; HE UNDERSTANDS IT AND KNOWS THAT HE IS GIVING UP IMPORTANT
      RIGHTS; HE AGREES WITH EVERYTHING IN IT; HE WAS TOLD, IN WRITING, TO CONSULT
      AN
      ATTORNEY BEFORE SIGNING IT; HE HAS BEEN GIVEN THE OPPORTUNITY TO REVIEW THE
      AGREEMENT FOR 21 DAYS AND THINK ABOUT WHETHER OR NOT HE WANTED TO SIGN IT;
      AND
      HE HAS SIGNED IT KNOWINGLY AND VOLUNTARILY.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    THEREFORE,
      the Employee and the Company now voluntarily and knowingly execute the Agreement
      and General Release and Waiver as of this ___th
      day of
      __________ 2007.

     

     

    
      	 	
               
                

            
	 	
              Andre
                Muller 

            
	 	 	 
	 	
              ALLIANCE
                DISTRIBUTORS HOLDING INC. 

            
	 	 	 
	 	
              By:

            	
               
                

            

    

     

    

     

     

    STATE
      OF
      NEW YORK      )

     

    ) SS.:

     

    COUNTY
      OF
      BRONX)

     

     

    On
      ______________ 2007, before me personally came Andre Mueller to me known, and
      known to me to be the individual described in, and who executed the foregoing
      Agreement and General Release and Waiver, and duly acknowledged to me that
      he
      executed the same.

     

     

     

    
      	 	
              _____________________

            
	 	
              NOTARY
                PUBLIC

            
	 	 
	 	 

    

     

     

      STATE
        OF
        NEW YORK      )

       

      ) SS.:

       

      COUNTY
        OF
        BRONX    )

    

     

     

    On
      _______________, 2007, before me personally came Jay Gelman (Officer of the
      “Company”), to me known and known to me to be the individual described in, and
      who executed the foregoing Agreement and General Release and Waiver, and duly
      acknowledged to me that he execute the same.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

     

    
      	 	
              _____________________

            
	 	
              NOTARY
                PUBLIC

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