Document:

Exhibit 10.1

 

EMPLOYMENT
AGREEMENT

 

THIS EMPLOYMENT
AGREEMENT (the “Agreement”) is made and entered into as of the 1st day
of July, 2003 by and between EVANS & SUTHERLAND COMPUTER
CORPORATION, a Utah corporation (the “Company”) and E. Thomas Atchison
(the “Executive”).

 

W I T N E S S E T H:

 

WHEREAS, the
Executive has been providing services to the Company in an executive capacity
and desires to continue to provide such services;

 

WHEREAS, the
Company desires to have the benefit of the Executive’s efforts and services;

 

WHEREAS, the
Company and Executive desire to terminate all prior employment agreements with
the Company, if any; and

 

WHEREAS, the
Company has determined that it is appropriate and in the best interests of the
Company to provide to the Executive protection in the event of certain
terminations of the Executive’s employment relationship with the Company in
accordance with the terms and conditions contained herein and the Executive
desires to have such protection.

 

NOW, THEREFORE, in
consideration of the foregoing and of the mutual covenants and agreements
hereinafter set forth, the Company and the Executive hereto mutually covenant
and agree as follows:

 

1.                                       DEFINITIONS.

 

Whenever used in
this Agreement, the following terms shall have the meanings set forth below:

 

(a)                                  “Accrued
Benefits” shall mean the amount equal to the sum of the following to the
extent not previously paid:

 

(i)                                     All
salary earned or accrued through the Termination Date;

 

(ii)                                  Reimbursement
pursuant to Section 6(e) for any and all monies advanced in connection
with the Executive’s employment for reasonable and necessary expenses incurred
by the Executive through the Termination Date;

 

(iii)                               Any
and all other cash benefits of deferred compensation plans previously earned
through the Termination Date unless deferred at the election of the Executive
for payment at another time or the applicable deferred compensation plan
provides for payment at another time;

 

 

(iv)                              The
full amount of any bonus earned in a prior period and payable to the Executive
in accordance with Section 6(b) herein, subject to the limitations in
Section 10 and Section 12; and

 

(v)                                 All
other payments and benefits to which the Executive may be entitled under the
terms of any benefit plan of the Company, which as of the Termination Date, is
applicable to all regular full-time employees of the Company generally.

 

(b)                                 “Act”
shall mean the Securities Exchange Act of 1934;

 

(c)                                  “Affiliate”
shall have the same meaning as given to that term in Rule 12b-2 of Regulation
12B promulgated under the Act;

 

(d)                                 “Base
Period Income” shall be an amount equal to the Executive’s “annualized
includable compensation” for the “base period” as defined in Sections
280G(d)(1) and (2) of the Code and the regulations adopted thereunder;

 

(e)                                  “Beneficial
Owner” shall have the same meaning as given to that term in Rule 13d-3 of
the Act, provided that any pledgee of Company voting securities shall not be
deemed to be the Beneficial Owner thereof prior to its disposition of, or
acquisition of voting rights with respect to, such securities;

 

(f)                                    “Board”
shall mean the Board of Directors of the Company;

 

(g)                                 “Cause”
shall mean any of the following:

 

(i)                                     The
engaging by the Executive in fraudulent conduct, as evidenced by a
determination in a binding and final judgment, order or decree of a court or
administrative agency of competent jurisdiction, in effect after exhaustion or
lapse of all rights of appeal, in an action, suit or proceeding, whether civil,
criminal, administrative or investigative, which the Chief Executive Officer of
the Company determines, in his sole discretion, has a significant adverse
impact on the Company or on the performance of the Executive’s duties to the
Company;

 

(ii)                                  Conviction
of a felony, as evidenced by a binding and final judgment, order or decree of a
court of competent jurisdiction, in effect after exhaustion or lapse of all
rights of appeal, which the Chief Executive Officer of the Company determines,
in his sole discretion, has a significant adverse impact on the Company or on
the performance of the Executive’s duties to the Company;

 

(iii)                               Neglect
or refusal by the Executive to perform the Executive’s duties or
responsibilities; or

 

(iv)                              A
significant violation by the Executive of the Company’s established policies and
procedures;

 

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Notwithstanding the foregoing, Cause shall not exist
under Sections 1(g)(iii) and (iv) herein unless the Company furnishes written
notice to the Executive of the specific offending conduct and the Executive
fails to correct such offending conduct within the thirty (30) day period
commencing on the receipt of such notice.

 

(h)                                 “Change
of Control” shall mean a change in ownership or managerial control of the
stock, assets or business of the Company resulting from one or more of the
following circumstances:

 

(i)                                     A
change of control of the Company, of a nature that would be required to be
reported in response to Item 6(e) of Schedule 14A of Regulation 14A
promulgated under the Act, or any successor regulation of similar import,
regardless of whether the Company is subject to such reporting requirement;

 

(ii)                                  A
change in ownership of the Company through a transaction or series of
transactions, such that any Person or Persons (other than any current officer
of the Company or member of the Board) become(s), in the aggregate, the
Beneficial Owner(s), directly or indirectly, of securities of the Company
representing thirty percent (30%) or more of the Company’s then outstanding
securities;

 

(iii)                               Any
consolidation or merger of the Company in which the Company is not the
continuing or surviving corporation or pursuant to which shares of the common
stock of the Company would be converted into cash (other than cash attributable
to dissenters’ rights), securities or other property provided by a Person or
Persons other than the Company, other than a consolidation or merger of the
Company in which the holders of the common stock of the Company immediately
prior to the consolidation or merger have approximately the same proportionate
ownership of common stock of the surviving corporation immediately after the
consolidation or merger;

 

(iv)                              The
shareholders of the Company approve a sale, transfer, liquidation or other
disposition of all or substantially all of the assets of the Company to a
Person or Persons;

 

(v)                                 During
any period of two (2) consecutive years, individuals who, at the beginning of
such period, constituted the Board of Directors of the Company cease, for any
reason, to constitute at least a majority thereof, unless the election or
nomination for election of each new director was approved by the vote of at
least two-thirds (2/3) of the directors then still in office who were directors
at the beginning of the period;

 

(vi)                              The
filing of a proceeding under Chapter 7 of the Federal Bankruptcy Code (or any
successor or other statute of similar import) for liquidation with respect to
the Company; or

 

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(vii)                           The
filing of a proceeding under Chapter 11 of the Federal Bankruptcy Code (or any
successor or other statute of similar import) for reorganization with respect
to the Company if in connection with any such proceeding, this Agreement is
rejected, or a plan of reorganization is approved an element of which plan
entails the liquidation of all or substantially all the assets of the Company.

 

A “Change of Control” shall be deemed to occur on the
actual date on which any of the foregoing circumstances shall occur; provided,
however, that in connection with a “Change of Control” specified in
Section 1(h)(vii), a “Change of Control” shall be deemed to occur on the
date of the filing of the relevant proceeding under Chapter 11 of the Federal
Bankruptcy Code (or any successor or other statute of similar import).  Notwithstanding the foregoing, a “Change of
Control” shall not include any transaction that constitutes a “Rule 13e-3
transaction” under Rule 13e-3 of the Act or an “issuer tender offer” under Rule
13e-4 of the Act.

 

(i)                                     “Change
of Control Period” shall mean the period commencing 180 days immediately
prior to the date a Change of Control is deemed to occur pursuant to
Section 1(h), herein, and ending on the second anniversary of such date;

 

(j)                                     “Code”
shall mean the Internal Revenue Code of 1986, as amended from time to time;

 

(k)                                  “Disability”
shall mean a physical or mental condition whereby the Executive is unable to
perform on a full-time basis the customary duties of the Executive under this
Agreement;

 

(l)                                     “Federal
Short Term-Rate” shall mean the rate defined in
Section 1274(d)(1)(C)(i) of the Code;

 

(m)                               “Good
Reason” shall mean:

 

(i)                                     The
required relocation of the Executive, without the Executive’s consent, to an
employment location which is more than seventy-five (75) miles from the
Executive’s employment location on the day preceding the date of this
Agreement; or

 

(ii)                                  Breach
or violation of any material provision of this Agreement by the Company, which
is not remedied within five business days following notice to the Company by
the Executive.

 

(n)                                 “Good
Reason During a Change of Control” shall mean any of the following events
occurring during a Change of Control Period:

 

(i)                                     The
required relocation of the Executive, without the Executive’s consent, to an
employment location which is more than seventy-five (75) miles from the
Executive’s employment location on the day preceding the date of this
Agreement;

 

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(ii)                                  The
removal of the Executive from or any failure to reelect the Executive to any of
the positions held by the Executive during the 180-day period immediately
preceding the Change of Control Period, except in the event that such removal
or failure to reelect relates to the termination by the Company of the
Executive’s employment for Cause or by reason of death, Disability or voluntary
retirement;

 

(iii)                               A
significant adverse change, without the Executive’s written consent, in the
nature or scope of the Executive’s authority, powers, functions, duties or
responsibilities that existed during the 180-day period immediately preceding
the Change of Control Period, or a material reduction in the level of support
services, staff, secretarial and other assistance, office space and
accoutrements available to a level below that which was provided to the Executive
during the 180-day period immediately preceding the Change of Control Period,
and that which is necessary to perform any duties assigned to the Executive
during the 180-day period immediately preceding the Change of Control Period;
or

 

(iv)                              Breach
or violation of any material provision of this Agreement by the Company, which
is not remedied within five business days following notice to the Company by
the Executive;

 

(o)                                 “Gross
Income” shall mean the Executive’s current calendar year targeted compensation
under Sections 6(a)-(b) of this Agreement;

 

(p)                                 “Notice
of Termination” shall mean the notice described in Section 14 herein;

 

(q)                                 “Person”
shall mean any individual, partnership, joint venture, association, trust,
corporation or other entity, other than an employee benefit plan of the Company
or an entity organized, appointed or established pursuant to the terms of any
such benefit plan;

 

(r)                                    “Termination
Date” shall mean, except as otherwise provided in Section 14 herein,

 

(i)                                     The
Executive’s date of death;

 

(ii)                                  Thirty
(30) days after the delivery of the Notice of Termination terminating the
Executive’s employment on account of Disability pursuant to Section 9
herein, unless the Executive returns on a full-time basis to the performance of
his or her duties prior to the expiration of such period;

 

(iii)                               Thirty
(30) days after the delivery of the Notice of Termination if the Executive’s
employment is terminated by the Executive voluntarily;

 

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(iv)                              Thirty
(30) days after the delivery of the Notice of Termination if the Executive’s
employment is terminated by the Company for any reason other than death or
Disability; or

 

(v)                                 The
date the Executive is terminated for Cause.

 

(s)                                  “Termination
Payment” shall mean the payment described in Section 13 herein;

 

(t)                                    “Total
Payments” shall mean the sum of the Termination Payment and any other
“payments in the nature of compensation” (as defined in Section 280G of
the Code and the regulations adopted thereunder) to or for the benefit of the
Executive, the receipt of which is contingent on a Change of Control and to
which Section 280G of the Code applies.

 

2.                                       EMPLOYMENT.

 

The Company hereby
agrees to employ the Executive and the Executive hereby agrees to serve the
Company, on the terms and conditions set forth herein.

 

3.                                       TERM.

 

The employment of
the Executive by the Company pursuant to the provisions of this Agreement shall
commence on the date hereof and end on that date employment of the Executive is
terminated pursuant to the terms and conditions of either Section 8, 9,
10, 11 or 12, herein.

 

4.                                       POSITIONS
AND DUTIES.

 

The Executive
shall serve as Vice President and Chief Financial Officer of the Company and in
such additional capacities as set forth in Section 7 herein.  In connection with the foregoing positions,
the Executive shall have such duties, responsibilities and authority as may
from time to time be assigned to the Executive by the Chief Executive Officer.  The Executive shall devote substantially all
the Executive’s working time and efforts to the business and affairs of the
Company.  The Chief Executive Officer,
in his or her sole discretion, may alter, modify, or change the Executive’s
duties, offices, positions, responsibilities and obligations set forth in this
Agreement at any time, consistent with the status of a senior executive of the
Company.

 

5.                                       PLACE
OF PERFORMANCE.

 

In connection with
the Executive’s employment by the Company, the Executive shall be based at the
principal executive offices of the Company in Salt Lake City, Utah except for
required travel on Company business.

 

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6.                                       COMPENSATION
AND RELATED MATTERS.

 

(a)                                  Salary.  The Company shall pay to the Executive an
annualized base salary at a rate of $235,200.00 in equal installments as nearly
as practicable on the Company’s regular payroll dates, in arrears.  Such annualized base salary may be increased
from time to time in accordance with normal business practices of the
Company.  The annualized base salary of
the Executive shall not be decreased below its then existing amount during the
term of this Agreement;

 

(b)                                 MIP.  Subject to the Company’s right to terminate
or amend, at any time with or without notice to the Executive, the Evans &
Sutherland Management Incentive Plan (MIP), the Executive shall be entitled to
participate in the Evans & Sutherland MIP as agreed in writing in a MIP
document;

 

(c)                                  SERP.  Subject to the Company’s right to terminate
or amend, at any time with or without notice to the Executive, the Company’s
Supplemental Executive Retirement Plan, the Executive shall be entitled to
participate in the Company’s Supplemental Executive Retirement Plan;

 

(d)                                 Executive
Savings Plan.  Subject to the
Company’s right to terminate or amend, at any time with or without notice to
the Executive, the Company’s Executive Savings Plan, the Executive shall be
entitled to participate in the Executive Savings Plan according to the terms
and conditions of the Executive Savings Plan.

 

(e)                                  Expenses.  The Executive shall be entitled to receive
prompt reimbursement for all reasonable expenses incurred by the Executive in
performing services hereunder, including all expenses for travel and living
expenses while away from home on business or at the request of and in the
service of the Company, provided that such expenses are incurred and accounted
for in accordance with the policies and procedures established by the Company
at the time incurred;

 

(f)                                    Other
Benefits.  The Company shall provide
the Executive with all other benefits normally provided to an employee of the
Company similarly situated to the Executive, including being added as a named
officer on the Company’s existing directors’ and officers’ liability insurance
policy;

 

(g)                                 Vacations.  The Executive shall be entitled to the
number of vacation days in each calendar year, and to compensation in respect
of earned but unused vacation days, determined in accordance with the Company’s
vacation plan as in effect from time to time, but in no event less than fifteen
(15) days.  The Executive shall also be
entitled to all paid holidays given by the Company to its executives; and

 

(h)                                 Services
Furnished.  The Company shall
furnish the Executive with office space, and such other facilities and services
as shall be suitable to the Executive’s position and adequate for the
performance of the Executive’s duties as set forth in Section 4 hereof.

 

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7.                                       OFFICES.

 

The Executive
agrees to serve without additional compensation, if elected or appointed
thereto, in one or more executive offices of the Company, or any affiliate or
subsidiary of the Company, or as a member of the board of directors of any
subsidiary or affiliate of the Company; provided, however, that the Executive
is indemnified for serving in any and all such capacities on a basis no less
favorable than is currently provided in the Company’s bylaws, or otherwise.

 

8.                                       TERMINATION
AS A RESULT OF DEATH.

 

If the Executive
shall die during the term of this Agreement, the Executive’s employment shall
terminate on the Executive’s date of death and the Executive’s surviving
spouse, or the Executive’s estate if the Executive dies without a surviving
spouse, shall be entitled to the Executive’s Accrued Benefits as of the
Termination Date and the applicable Termination Payment.

 

9.                                       TERMINATION
FOR DISABILITY.

 

If, as a result of
the Executive’s Disability, the Executive shall have been unable to perform the
Executive’s duties hereunder on a full-time basis for four (4) consecutive
months and within thirty (30) days after the Company provides the Executive
with a Termination Notice, the Executive shall not have returned to the
performance of the Executive’s duties on a full-time basis, the Company may
terminate the Executive’s employment, subject to Section 14 herein.  During the term of the Executive’s
Disability prior to termination, the Executive shall continue to receive all
salary and other benefits payable under Section 6 herein, including
participation in all employee benefit plans, programs and arrangements in which
the Executive was entitled to participate immediately prior to the Disability;
provided, however, that the Executive’s continued participation is permitted
under the terms and provisions of such plans, programs and arrangements.  In the event that the Executive’s
participation in any such plan, program or arrangement is barred as the result
of such Disability, the Executive shall be entitled to receive an amount equal
to the contributions, payments, credits or allocations which would have been
paid by the Company to the Executive, to the Executive’s account or on the
Executive’s behalf under such plans, programs and arrangements.  In the event the Executive’s employment is
terminated on account of the Executive’s Disability in accordance with this
Section 9, the Executive shall receive the Executive’s Accrued Benefits as
of the Termination Date and shall remain eligible for all benefits provided by
any long-term disability programs of the Company in effect at the time of such
termination.  The Executive shall also
be entitled to the Termination Payment described in Section 13(a).

 

10.                                 TERMINATION
FOR CAUSE.

 

If the Executive’s
employment with the Company is terminated by the Company for Cause, subject to
the procedures set forth in Section 14 herein, the Executive shall be
entitled to receive the Executive’s Accrued Benefits as of the Termination
Date, however, the Executive’s Accrued Benefits will not include any amount for
bonus under Section 1(a)(iv).  The Executive
shall not be entitled to receipt of any Termination Payment.

 

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11.                                 OTHER
TERMINATION BY COMPANY.

 

If the Executive’s
employment with the Company is terminated by the Company other than by reason of
death, Disability or Cause, subject to the procedures set forth in
Section 14 herein, the Executive (or in the event of the Executive’s death
following the Termination Date, the Executive’s surviving spouse or the
Executive’s estate if the Executive dies without a surviving spouse) shall
receive the Executive’s Accrued Benefits and the applicable Termination
Payment.  The Executive shall not, in
connection with any consideration receivable in accordance with this Section 11,
be required to mitigate the amount of such consideration by securing other
employment or otherwise and such consideration shall not be reduced by reason
of the Executive securing other employment or for any other reason.

 

12.                                 VOLUNTARY
TERMINATION BY EXECUTIVE.

 

From and after the
date of this Agreement, provided that the Executive furnishes thirty (30) days
prior written notice to the Company, the Executive shall have the right to
voluntarily terminate this Agreement at any time.  If the Executive’s voluntary termination is without Good Reason
or without Good Reason During a Change of Control, the Executive shall receive
the Executive’s Accrued Benefits as of the Termination Date and shall not be
entitled to any Termination Payment, however, the Executive’s Accrued Benefits
will not include any amount for bonus under Section 1(a)(iv).  If the Executive’s voluntary termination is
for Good Reason or Good Reason During a Change of Control, the Executive (or in
the event of the Executive’s death following the Termination Date, the
Executive’s surviving spouse or the Executive’s estate if the Executive dies
without a surviving spouse) shall receive the Executive’s Accrued Benefits and
the applicable Termination Payment.  The
Executive shall not, in connection with any consideration receivable in
accordance with this Section 12, be required to mitigate the amount of
such consideration by securing other employment or otherwise and such
consideration shall not be reduced by reason of the Executive securing other
employment or for any other reason.

 

13.                                 TERMINATION
PAYMENT.

 

(a)                                  If
the Executive’s employment is terminated as a result of death or Disability,
the Executive shall receive a Termination Payment equal to one (1.0) times the
Executive’s Gross Income.  The Company
will also pay the full medical, dental and vision premiums for continuation
coverage under COBRA for the Executive and dependents who qualify for
continuation coverage under COBRA for one year following Termination Date.

 

(b)                                 If,
prior to a Change of Control Period, the Executive’s employment is terminated
by the Executive for Good Reason or by the Company for any reason other than
death, Disability or Cause, the Termination Payment payable to the Executive by
the Company or an affiliate of the Company shall be equal to one (1.0) times
the Executive’s Gross Income.  The
Company will pay the full medical, dental and vision premiums for continuation
coverage under COBRA for the Executive and dependents who qualify for
continuation coverage under COBRA for one year following the Termination Date.

 

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(c)                                  If,
during a Change of Control Period, the Executive’s employment is terminated by
the Executive for Good Reason During a Change of Control or by the Company for
any reason other than death, Disability, or Cause, the Termination Payment
payable to the Executive by the Company or an affiliate of the Company shall be
two (2.0) times the Executive’s Gross Income. 
The Company will pay the full medical, dental and vision premiums for
continuation coverage under COBRA and, after expiration of the COBRA
continuation period, for conversion coverage for the Executive and dependents
who qualify for continuation coverage under COBRA for two (2) years following
the Termination Date.

 

(d)                                 It
is the intention of the Company and the Executive that the benefits under this
Agreement shall be capped such that no portion of the Termination Payment and
any other “payments in the nature of compensation” (as defined in
Section 280G of the Code and the regulations adopted thereunder) to or for
the benefit of the Executive under this Agreement, or under any other
agreement, plan or arrangement, shall be deemed to be an “excess parachute
payment” as defined in Section 280G of the Code.  It is agreed that the present value of the Total Payments shall
not exceed an amount equal to two and ninety-nine hundredths (2.99) times the
Executive’s Base Period Income, which is the maximum amount which the Executive
may receive without becoming subject to the tax imposed by Section 4999 of
the Code or which the Company may pay without loss of deduction under
Section 280G(a) of the Code. 
Present value for purposes of this Agreement shall be calculated in
accordance with the regulations issued under Section 280G of the
Code.  Within sixty (60) days following
delivery of the Notice of Termination or notice by the Company to the Executive
of its belief that there is a payment or benefit due the Executive which will
result in an excess parachute payment as defined in Section 280G of the
Code, the Executive and the Company shall, at the Company’s expense, obtain
such opinions as more fully described hereafter, which need not be unqualified,
of legal counsel and certified public accountants or a firm of recognized
executive compensation consultants.  The
Executive shall select said legal counsel, certified public accountants and
executive compensation consultants; provided, however, that if the Company does
not accept one (1) or more of the parties selected by the Executive, the
Company shall provide the Executive with the names of such legal counsel,
certified public accountants and/or executive compensation consultants as the
Company may select; provided, further, however, that if the Executive does not
accept the party or parties selected by the Company, the legal counsel,
certified public accountants and/or executive compensation consultants selected
by the Executive and the Company, respectively, shall select the legal counsel,
certified public accountants and/or executive compensation consultants,
whichever is applicable, who shall provide the opinions required by this
Section 13(d).  The opinions
required hereunder shall set forth (a) the amount of the Base Period Income of
the Executive, (b) the present value of Total Payments and (c) the amount and
present value of any excess parachute payments.  In the event that such opinions determine that there would be an
excess parachute payment, the Termination Payment or any other payment
determined by such counsel to be includable in Total Payments shall be reduced
or eliminated as specified by the Executive in writing delivered to the Company
within thirty (30) days of his or her receipt of such opinions or, if the
Executive fails to so notify the Company, then as the Company shall reasonably
determine, so that under the bases of calculation set forth in such opinions
there will be

 

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no excess parachute payment.  The provisions of this Section 13(d), including the
calculations, notices and opinions provided for herein shall be based upon the
conclusive presumption that the compensation and other benefits, including but
not limited to the Gross Income, earned on or after the date of a Change of
Control by the Executive pursuant to the Company’s compensation programs if
such payments would have been made in the future in any event, even though the
timing of such payment is triggered by the Change of Control, are reasonable
compensation for services rendered prior to the Change of Control; provided,
however, that in the event legal counsel so requests in connection with the
opinion required by this Section 13(d), a firm of recognized executive
compensation consultants, selected by the Executive and the Company pursuant to
the procedures set forth above, shall provide an opinion, upon which such legal
counsel may rely, as to the reasonableness of any item of compensation as
reasonable compensation for services rendered prior to the Change of Control by
the Executive.  In the event that the
provisions of Sections 280G and 4999 of the Code are repealed without
succession, this Section 13(d) shall be of no further force or effect.

 

(e)                                  The
Termination Payment shall be payable as follows:

 

(i)                                     In
the event the Executive’s Termination Date is during a Change of Control
Period, any Termination Payment shall be paid to the Executive in a lump sum
not later than ten (10) days following the Executive’s Termination Date.  Such lump sum payment shall not be reduced
by any present value, interest rate, or similar factor.  Further, the Executive shall not be required
to mitigate the amount of such payment by securing other employment or
otherwise and such payment shall not be reduced by reason of the Executive
securing other employment or for any other reason.

 

(ii)                                  In
the event the Executive’s Termination Date is prior to or after a Change of
Control Period, any Termination Payment shall be paid to the Executive in  equal installments on the Company’s
twenty-six (26) regular bi-weekly paydays over the twelve-month period
following the Termination Date.  Such
payments shall not be reduced or increased by any present value, interest rate,
or similar factor.  Further, the
Executive shall not be required to mitigate the amount of such payment by
securing other employment or otherwise and such payment shall not be reduced by
reason of the Executive securing other employment or for any other reason.

 

(f)                                    Notwithstanding
anything to the contrary herein, in no event will a termination of Executive’s
employment with the Company be deemed to trigger a right to receive a
Termination Payment if the termination is effected by the mutual agreement of
the Company and Executive to accommodate a reassignment of Executive to an
entity created or acquired by the Company, or to which the Company has
contributed rights to technology, assets or business plans, if at the time of
such termination the Company owns or is acquiring a minimum of a 19% equity
interest in such entity.  In the event
of any such termination, the Executive shall only be entitled to receive the
Executive’s Accrued Benefits as of the Termination Date.

 

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14.                                 TERMINATION
NOTICE AND PROCEDURE.

 

Any termination by
the Company or the Executive of the Executive’s employment during the
employment period shall be communicated by written Notice of Termination
(“Notice of Termination”) to the Executive, if such Notice of Termination is
delivered by the Company, and to the Company, if such Notice of Termination is
delivered by the Executive, all in accordance with the following procedures:

 

(a)                                  The
Notice of Termination shall indicate the specific termination provision in this
Agreement relied upon and shall set forth in reasonable detail the facts and
circumstances alleged to provide a basis for termination;

 

(b)                                 Any
Notice of Termination by the Company shall be approved by a resolution duly
adopted by a majority of the Board, or a majority of the Board may delegate
such authority to approve any Notice of Termination to the Chief Executive
Officer of the Company;

 

(c)                                  If
the Executive shall in good faith furnish a Notice of Termination for Good
Reason or for Good Reason During a Change of Control and the Company notifies
the Executive that a dispute exists concerning the existence of Good Reason or
Good Reason During a Change of Control, within the fifteen (15) day period
following the Company’s receipt of such notice, the Executive shall continue
the Executive’s employment during such dispute.  If it is thereafter determined that (i) Good Reason or Good
Reason During a Change of Control did exist, the Executive’s Termination Date
shall be the earlier of (A) the date on which the dispute is finally
determined, either by mutual written agreement of the parties or pursuant to
Section 16, (B) the date of the Executive’s death or (C) one day prior to
the second (2nd) anniversary of a Change of Control, if any, and the
Executive’s Termination Payment, if applicable, shall reflect events occurring
after the Executive delivered the Executive’s Notice of Termination; or
(ii) Good Reason or Good Reason During a Change of Control did not exist,
the employment of the Executive shall continue after such determination as if
the Executive had not delivered the Notice of Termination asserting Good Reason
or Good Reason During a Change of Control; and

 

(d)                                 If
the Executive gives Notice of Termination of his or her employment for Good
Reason or Good Reason During a Change of Control and a dispute arises as to the
existence of Good Reason or Good Reason During a Change of Control, and the
Executive does not continue his employment during such dispute, and it is
finally determined that the reason for termination set forth in such Notice of
Termination did not exist, if such notice was delivered by the Executive, the
Executive shall be deemed to have voluntarily terminated the Executive’s
employment other than for Good Reason or Good Reason During a Change of
Control.

 

12

 

15.                                 NON-COMPETE.

 

The Executive
hereby agrees that during the term of this Agreement and for the period of one
year  from
the termination hereof, that the Executive will not:

 

(a)                                  Within
any jurisdiction or marketing area in the United States in which the Company or
any subsidiary thereof is doing business, own, manage, operate or control any
business of the type and character engaged in and competitive with the Company
or any subsidiary thereof.  For purposes
of this Section 15, ownership of securities of not in excess of five
percent (5%) of any class of securities of a public company shall not be
considered to be competition with the Company or any subsidiary thereof; or

 

(b)                                 Within
any jurisdiction or marketing area in the United States in which the Company or
any subsidiary thereof is doing business, act as, or become employed as, an
officer, director, employee, consultant or agent of any business of the type
and character engaged in and competitive with the Company or any of its
subsidiaries; or

 

(c)                                  Solicit
any similar business to that of the Company’s for, or sell any products that
are in competition with the Company’s products to, any company in the United
States, which is, as of the date hereof, or through the Termination Date, a
customer or client of the Company or any of its subsidiaries, or was such a
customer or client thereof within two years prior to the Termination Date; or

 

(d)                                 Solicit
the employment of (i) any employee of the Company or its subsidiaries that is
an employee at anytime during this term of this Agreement or during the one
year period following the termination of this Agreement, or (ii) any former
employee of the Company or its subsidiaries who was employed by the Company or
its subsidiaries during the one (1) year period preceding the Termination Date.

 

For purposes of this
Section 15, any business in the 3D visualization simulation market shall
be deemed to be competitive with the Company.

 

16.                                 REMEDIES
AND JURISDICTION.

 

(a)                                  The
Executive hereby acknowledges and agrees that a breach of the agreements
contained in this Agreement will cause irreparable harm and damage to the
Company, that the remedy at law for the breach or threatened breach of the
agreements set forth in this Agreement will be inadequate, and that, in
addition to all other remedies available to the Company for such breach or
threatened breach (including, without limitation, the right to recover
damages), the Company shall be entitled to injunctive relief for any breach or
threatened breach of the agreements contained in this Agreement.  To enforce the provisions of this
Section 16(a), the Company may seek relief from any court with proper
jurisdiction and the provisions of Section 16(b)-(d) shall not be
applicable for purposes of this Section 16(a).

 

(b)                                 All
claims, disputes and other matters in question between the parties arising
under this Agreement, shall, unless otherwise provided herein, be decided by
binding arbitration before a single independent arbitrator selected pursuant to
Section

 

13

 

16(d).  TO THE
EXTENT ALLOWABLE UNDER APPLICABLE LAW, ALL DISPUTES INVOLVING ALLEGED UNLAWFUL
EMPLOYMENT DISCRIMINATION, BREACH OF CONTRACT OR POLICY, OR EMPLOYMENT TORT
COMMITTED BY THE COMPANY OR A REPRESENTATIVE OF THE COMPANY, INCLUDING CLAIMS
OF VIOLATIONS OF FEDERAL OR STATE DISCRIMINATION STATUTES OR PUBLIC POLICY,
SHALL BE RESOLVED PURSUANT TO THIS POLICY AND THERE SHALL BE NO RECOURSE TO
COURT, WITH OR WITHOUT A JURY TRIAL. 
The arbitration hearing shall occur at a time and place convenient to
the parties in Salt Lake County, Utah, within thirty (30) days of selection or
appointment of the arbitrator.  If the
Company has adopted a policy that is applicable to arbitration with employees,
the arbitration shall be conducted in accordance with said policy to the extent
that the policy is consistent with this Agreement and the Federal Arbitration
Act, 9 U.S.C. §§ 1-16.  If no such
policy has been adopted, the arbitration shall be governed by the National
Rules for the Resolution of Employment Disputes of AAA in effect on the date of
the first notice of demand for arbitration. 
The arbitrator shall issue written findings of fact and conclusions of
law, and an award, within fifteen (15) days of the date of the hearing unless the
parties otherwise agree.

 

(c)                                  In
cases of breach of contract or policy, damages shall be limited to contract
damages.  In cases of discrimination
claims prohibited by statute, the arbitrator may direct payment consistent with
the applicable statute.  Issues of
procedure, arbitrability, or confirmation of award shall be governed by the
Federal Arbitration Act, 9 U.S.C. §§ 1-16, except that court review of the
arbitrator’s award shall be that of an appellate court reviewing a decision of
a trial judge sitting without a jury.

 

(d)                                 The
parties shall select the arbitrator from a panel list made available by the
AAA.  If the parties are unable to agree
to an arbitrator within ten (10) days of receipt of a demand for arbitration,
the arbitrator will be chosen by alternatively striking from a list of five (5)
arbitrators obtained by the Company from AAA. 
The Executive shall have the first strike.

 

17.                                 ATTORNEYS’
FEES.

 

In the event that
either party hereunder institutes any legal proceedings in connection with its
rights or obligations under this Agreement, each party in such proceeding shall
be responsible for all of its own costs incurred in connection with such
proceeding, including attorneys’ fees and any other fees, expenses, or costs.

 

18.                                 SUCCESSORS.

 

This Agreement and
all rights of the Executive shall inure to the benefit of and be enforceable by
the Executive’s personal or legal representatives, estates, executors,
administrators, heirs and beneficiaries. 
In the event of the Executive’s death, all amounts payable to the
Executive under this Agreement shall be paid to the Executive’s surviving
spouse, or the Executive’s estate if the Executive dies without a surviving
spouse.  This Agreement shall inure to
the benefit of, be binding upon and be enforceable by, any successor, surviving
or

 

14

 

resulting corporation or other entity to which all or substantially all
of the business and assets of the Company shall be transferred whether by
merger, consolidation, transfer or sale.

 

19.                                 ENFORCEMENT.

 

The provisions of
this Agreement shall be regarded as divisible, and if any of said provisions or
any part hereof are declared invalid or unenforceable by a court of competent
jurisdiction, the validity and enforceability of the remainder of such
provisions or parts hereof and the applicability thereof shall not be affected
thereby.

 

20.                                 AMENDMENT
OR TERMINATION.

 

This Agreement may
not be amended or terminated during its term, except by written instrument
executed by the Company and the Executive.

 

21.                                 SURVIVABILITY.

 

The provisions of
Sections 15, 16, 17, 18, and 19 shall survive termination of this Agreement.

 

22.                                 ENTIRE
AGREEMENT.

 

Except for the
Confidentiality, Proprietary Information, and Inventions Agreement between the
Executive and the Company, this Agreement sets forth the entire agreement
between the Executive and the Company with respect to the subject matter
hereof, and supersedes all prior oral or written agreements, negotiations,
commitments and understandings with respect thereto. 
Prior Employment
Agreements between the Executive and the Company are hereby terminated in their
entirety and superceded by this Agreement.

 

23.                                 VENUE;
GOVERNING LAW.

 

This Agreement and
the Executive’s and Company’s respective rights and obligations hereunder shall
be governed by and construed in accordance with the laws of the State of Utah
without giving effect to the provisions, principles, or policies thereof
relating to choice or conflicts of laws.

 

24.                                 NOTICE.

 

All notices,
requests, instructions or other documents to be given under this Agreement
shall be in writing and shall be deemed given (i) three business days following
sending by registered or certified mail, postage prepaid, (ii) when sent if
sent by facsimile; provided, however, that the facsimile is promptly confirmed
by telephone confirmation thereof, (iii) when delivered, if delivered
personally to the intended recipient, and (iv) one business day following
sending by overnight delivery via a national courier service, and in each case,
addressed to a party at the following address for such party:

 

15

 

	
  Company:

  	
  Evans & Sutherland Computer Corporation

  
	
   

  	
  600 Komas Drive

  
	
   

  	
  Salt Lake City, Utah 84108

  
	
   

  	
  Attn:  Vice
  President of Human Resources

  
	
   

  	
  Fax:  (801)
  588-4517

  
	
   

  	
  Tel:  (801)
  588-1609

  
	
   

  	
   

  
	
   

  	
   

  
	
  Executive:

  	
  E. Thomas Atchison

  
	
   

  	
  2886 East Elkhorn Lane

  
	
   

  	
  Sandy, Utah 84093

  
	
   

  	
  Fax: (801) 733-9231

  
	
   

  	
  Tel:  (801)
  733-9235

  

 

or to such other address as the Company shall have given to the
Executive or, if to the Executive, to such address as the Executive shall have
given to the Company or facsimile number as the party to whom notice is given
may have previously furnished to the other in writing in the manner set forth
above.

 

25.                                 NO
WAIVER.

 

No waiver by
either party at any time of any breach by the other party of, or compliance
with, any condition or provision of this Agreement to be performed by the other
party shall be deemed a waiver of similar or dissimilar provisions or
conditions at the same time or any prior or subsequent time.

 

26.                                 HEADINGS.

 

The headings
herein contained are for reference only and shall not affect the meaning or
interpretation of any provision of this Agreement.

 

27.                                 COUNTERPARTS.

 

This Agreement may
be executed in one or more counterparts, each of which shall be deemed to be an
original but all of which together will constitute one and the same instrument.

 

16

 

IN WITNESS
WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer, and the Executive has executed this Agreement, on the date
and year first above written.

 

	
   

  	
  “COMPANY”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EVANS & SUTHERLAND
  COMPUTER

  CORPORATION, a Utah
  Corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James R. Oyler 

  
	
   

  	
   

  	
  James R. Oyler

  
	
   

  	
   

  	
  President and Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  “EXECUTIVE”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
         /s/ E.
  Thomas Atchison

  
	
   

  	
   

  	
  E. Thomas Atchison

  
				

 

17Exhibit
10.2

 

AMENDMENT NUMBER FIVE TO LOAN AND

SECURITY AGREEMENT AND WAIVER

 

This Amendment Number Five to Loan and Security
Agreement and Waiver (“Fifth Amendment”) is entered into as of July 16, 2003,
by and between WELLS FARGO FOOTHILL, INC., a California corporation, f/k/a/
Foothill Capital Corporation (“Foothill”), and EVANS & SUTHERLAND COMPUTER
CORPORATION, a Utah corporation (“Borrower”), in light of the
following:

 

A.                                   Borrower
and Foothill have previously entered into that certain Loan and Security
Agreement, dated as of December 14, 2000 (“Agreement”);

 

B.                                     On
or about June 19, 2001, Borrower and Foothill entered into that certain
amending Letter Agreement, whereby certain terms and conditions of the
Agreement were temporarily amended;

 

C.                                     On
or about February 22, 2002, Borrower and Foothill entered into that certain
Amendment Number One to Loan and Security Agreement and Waiver whereby certain
terms and conditions of the Agreement were amended;

 

D.                                    On
or about August      , 2002, Borrower and Foothill
entered into that certain Amendment Number Two to Loan and Security Agreement
and Waiver whereby certain terms and conditions of the Agreement were further
amended

 

E.                                      On
or about December 11, 2002, Borrower and Foothill entered into that certain
Amendment Number Three to Loan and Security Agreement and Waiver whereby
certain terms and conditions of the Agreement were further;

 

F.                                      
On or about January 8, 2003, Borrower and Foothill entered into that certain
Amendment Number Four to Loan and Security Agreement and Waiver whereby certain
terms and conditions of the Agreement were further amended;

 

G.                                     On
or about March 14, 2003, Borrower and Foothill entered into that certain
amending Consent Letter, whereby certain terms and conditions of the Agreement
were temporarily amended (the Agreement, as amended by the letter agreement,
the first amendment, the second amendment, the third amendment, the fourth
amendment, and the consent letter, all as referenced above, is hereinafter
referred to as the “Loan Agreement”); and

 

H.                                    Borrower
and Foothill desire to further amend the Loan Agreement as provided for and on
the conditions herein.

 

NOW, THEREFORE, Borrower and Foothill
hereby amend and supplement the Loan Agreement as follows:

 

1

 

1.                                      DEFINITIONS.  All initially capitalized terms used in this
Fifth Amendment shall have the meanings given to them in the Agreement unless
specifically defined herein.

 

2.                                      AMENDMENTS.

 

(a)                                  The
definition of “Amortizing Base Amount” as set froth in Section 1.1 of the Loan
Agreement is amended by deleting it in its entirety and substituting the
following in its place and stead:

 

““Amortizing Base Amount” means the lesser
of:  (i) Twelve Million Five
Hundred Thousand Dollars ($12,500,000), or (ii) Fifty-Seven Point Four Per Cent
(57.4%) of Foothill’s most recent appraised value of the Real Property
Collateral, both of which are further reduced by subtracting the following: (y)
commencing January 1, 2003, and for each and every full or partial month
thereafter, the sum of One Hundred Twenty-Five Thousand Dollars ($125,000.00)
for each and every partial or full month; and further subtracting (z) each
Adjusted Allocated Auction Value for each parcel of Real Property Collateral
sold during the term hereof.”

 

(b)                                 There
is added a new definition to Section 1.1 of the Loan Agreement as follows:

 

““Availability” means, as of any date of
determination, the amount that Borrower is entitled to borrow as Advances
hereunder (after giving effect to all then outstanding Obligations, and all
sublimits and reserves then applicable hereunder).”

 

(c)                                  There
is added a new definition to Section 1.1 of the Loan Agreement as follows:

 

““Cash Equivalents” means (a) marketable direct
obligations issued by, or unconditionally guaranteed by, the United States or
issued by any agency thereof and backed by the full faith and credit of the
United States, in each case maturing within 1 year from the date of acquisition
thereof, (b) marketable direct obligations issued by any state of the United
States or any political subdivision of any such state or any public
instrumentality thereof maturing within 1 year from the date of acquisition
thereof and, at the time of acquisition, having one of the two highest ratings
obtainable from either Standard & Poor’s Rating Group (“S&P”) or
Moody’s Investors Service, Inc. (“Moody’s”), (c) commercial paper maturing no
more than 270 days from the date of creation thereof and, at the time of
acquisition, having a rating of at least

 

2

 

A-1 from S&P or at least P-1 from Moody’s, (d)
certificates of deposit or bankers’ acceptances maturing within 1 year from the
date of acquisition thereof issued by any bank organized under the laws of the
United Kingdom of Great Britain, the United States, or any state thereof having
at the date of acquisition thereof combined capital and surplus of not less
than $250,000,000, (e) demand Deposit Accounts maintained with any bank
organized under the laws of the United Kingdom of Great Britain, the United
States, or any state thereof, and (f) Investments in money market funds
substantially all of whose assets are invested in the types of assets described
in clauses (a) through (e) above.

 

(d)                                 There
is added a new definition to Section 1.1 of the Loan Agreement as follows:

 

““Excess Availability” means, as of any date of
determination, the amount equal to Availability minus the aggregate amount, if
any, of all trade payables of Borrower and its Subsidiaries aged in excess of
historical levels with respect thereto and all book overdrafts of Borrower and
its Subsidiaries in excess of historical practices with respect thereto, in
each case as determined by Agent in its Permitted Discretion.

 

(e)                                  There
is added a new definition to Section 1.1 of the Loan Agreement as follows:

 

““Fifth Amendment” means that certain Amendment
Number Five to Loan and Security Agreement dated as of June
     , 2003, entered into between Borrower and
Foothill.”

 

(f)                                    The
definition of “Foothill Expenses” as set froth in Section 1.1 of the Loan
Agreement is amended by adding the following clause at the conclusion thereof:

 

“consultants’ or other professionals’ fees and
expenses incurred in reviewing and advising Foothill on the business plan and operations
of Borrower and Borrower’s Affiliates, which such sum are not expected to
exceed sixty thousand dollars ($60,000) plus out of pocket expenses during the
first sixty (60) days following the date hereof; provided, however, that if on
the basis of the review performed during such sixty day period Foothill
believes it prudent in the exercise of its Permitted Discretion for further
review to occur, the Sixty Thousand Dollar ($60,000) figure and time periods
for review may be exceeded.”

 

(g)                                 Section
2.5(a) of the Loan Agreement shall be amended by deleting it in its entirety
and substituting the following in its place and stead:

 

3

 

“(a)                            Interest
Rate.  Except as provided in clause (c)
below, all Obligations as reflected in the Loan Account (except for undrawn
Letters of Credit) shall bear interest at the per annum rate set forth below:

 

(i)                                     if
the sum of outstanding Advances, outstanding Letters of Credit and L/C
Guarantees, is less than Fifteen Million Dollars ($15,000,000), three (3)
percentage points above the Reference Rate;

 

(ii)                                  if
the sum of outstanding Advances, outstanding Letters of Credit, and L/C
Guarantees, is greater than or equal to Fifteen Million Dollars ($15,000,000),
and equal to or less than Twenty Million Dollars ($22,000,000), three and
one-half (3 1/2) percentage points above the Reference Rate;

 

(iii)                               if the sum of
outstanding Advances, outstanding Letters of Credit, and L/C Guarantees,
exceeds Twenty Million Dollars ($22,000,000), four and one-half (4 1/2)
percentage points above the Reference Rate.”

 

(h)                                 Section
2.5(b) of the Loan Agreement shall be amended by deleting it in its entirety
and substituting the following in its place and stead:

 

“(b)                           Letter
of Credit Fee.  Borrower shall pay
Foothill a fee, payable monthly, (in addition to the charges, commissions,
fees, and costs set forth in Section 2.2(d)) equal to the amount set forth
below:

 

(i)                                     if
the sum of outstanding Advances, outstanding Letters of Credit, and L/C
Guarantees, is less than Fifteen Million Dollars ($15,000,000), three and
one-half (3 1/2) percent per annum times the daily balance of outstanding
Letters of Credit;

 

(ii)                                  if
the sum of outstanding Advances, outstanding Letters of Credit, and L/C
Guarantees, is between Fifteen Million Dollars ($15,000,000) and Twenty Million
Dollars ($22,000,000), three and three-quarters (3 3/4) percent per annum times
the daily balance of outstanding Letters of Credit;

 

(iii)                               if the sum of
outstanding Advances, outstanding Letters of Credit, and L/C Guarantees,
exceeds Twenty Million Dollars ($22,000,000), five (5) percent per

 

4

 

annum times the daily balance of outstanding Letters
of Credit.

 

Such Letter of Credit fees shall continue to be owing
and paid so long as any Letters of Credit remain outstanding (even after the
termination or expiration of this Agreement), and even if Borrower cannot
request the issuance of any additional Letters of Credit.”

 

(i)                                     Section
2.5(d) of the Loan Agreement shall be amended by deleting it in its entirety
and substituting the following in its place and stead:

 

“(d)                           Minimum
Interest.  In no event shall the rate of
interest chargeable hereunder for any day be less than ten and one-quarter
percent (10 1/4%) per annum.  To the
extent that interest accrued hereunder at the rate set forth herein would be
less than the foregoing minimum daily rate, the interest rate chargeable
hereunder for such day automatically shall be deemed increased to the minimum
rate.

 

(j)                                     Section
2.10 of the Loan Agreement shall be amended by adding the following subsection
(g):

 

“(g)                           Fifth
Amendment Fee.  Upon mutual execution of
the Fifth Amendment, a fee as consideration for entering into the Fifth
Amendment, in the amount of Sixty Thousand Dollars ($60,000.00), which such fee
Foothill can charge to Borrower’s Loan Account.”

 

(k)                                  Section
7.17 of the Loan Agreement is deleted in its entirety, and the following
substituted in its place and stead:

 

“7.17  Financial Covenants.

 

Fail to maintain amounts equal to the sum of: (i) Cash
Equivalents, and (ii) Excess Availability of at least the required amounts set
forth in the following table as of the applicable dates set forth opposite
thereto:

 

5

 

	
  Applicable
  Amount

  	
   

  	
  Applicable
  Date

  
	
  $11,500,000

  	
   

  	
  6/30/03

  
	
  $11,000,000

  	
   

  	
  9/30/03

  
	
  $14,000,000

  	
   

  	
  12/31/03, and the last day of each fiscal quarter
  thereafter

  

 

3.                                      REPRESENTATIONS
AND WARRANTIES.  Borrower hereby
affirms to Foothill that all of Borrower’s representations and warranties set
forth in the Agreement are true, complete and accurate in all respects as of
the date hereof.

 

4.                                      NO
DEFAULTS.  Borrower hereby
affirms to Foothill that, other than 
Events of Default having been expressly waived by Foothill in writing,
no Event of Default has occurred and is continuing as of the date hereof.

 

5.                                      CONDITION
PRECEDENT.  The effectiveness of
this Fifth Amendment is expressly conditioned upon the  receipt by Foothill of an executed copy of
this Fifth Amendment.

 

6.                                      COSTS
AND EXPENSES.  Borrower shall
pay to Foothill all of Foothill’s out-of-pocket costs and expenses (including,
without limitation, the fees and expenses of its counsel, which counsel may
include any local counsel deemed necessary, search fees, filing and recording
fees, documentation fees, appraisal fees, travel expenses, and other fees)
arising in connection with the preparation, execution, and delivery of this
Fifth Amendment and all related documents.

 

7.                                      LIMITED
EFFECT.  In the event of a conflict
between the terms and provisions of this Fifth Amendment and the terms and
provisions of the Agreement, the terms and provisions of this Fifth Amendment
shall govern.  In all other respects,
the Agreement, as amended and supplemented hereby, shall remain in full force
and effect.

 

8.                                      COUNTERPARTS;
EFFECTIVENESS.  This Fifth
Amendment may be executed in any number of counterparts and by different
parties on separate counterparts, each of which when so executed and delivered
shall be deemed to be an original.  All
such counterparts, taken together, shall constitute but one and the same Fifth
Amendment.  This Fifth Amendment shall
become effective upon the execution of a counterpart of this Fifth Amendment by
each of the parties hereto.

 

IN WITNESS WHEREOF, the
parties hereto have executed this Amendment Number Five to Loan and Security
Agreement as of the date first set forth above.

 

	
   

  	
  WELLS
  FARGO FOOTHILL, INC.,

  
	
   

  	
  a California corporation, f/k/a Foothill Capital

  Corporation

  

 

6

 

	
   

  	
  By:

  	
  /s/ Charles Kim

  	
   

  
	
   

  	
  Charles Kim, V.P.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EVANS &
  SUTHERLAND COMPUTER,

  a Utah corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ E. Thomas Atchison

  	
   

  
	
   

  	
  Title:

  	
    CFO

  	
   

  
							

 

7

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