Document:

Exhibit 10.7

SECURITIES PURCHASE
AGREEMENT

 

This Securities Purchase
Agreement (this “Agreement”), dated as of ______, 2015 is entered into by and between NuGene International,
Inc., a Nevada corporation (“NuGene”), and ______, an Individual (“Buyer”), with reference
to the following matters:

RECITALS

 

A.          NuGene,
a public company whose shares are listed for trading on overthecountermarkets.com under the “NUGN” trading symbol,
is in the business of developing, manufacturing and marketing proprietary regenerative cosmeceutical and pharmaceutical products
based on adipose derived human stem cell and human stem cell media.

 

B.           NuGene
seeks funds for general operations, development, testing and other work related to development of its products.

 

C.           Buyer
is an accredited investor and has extensive experience with investing in a private placement.

 

D.           NuGene
desires to sell to Buyer and Buyer desires to purchase from NuGene 200,000 shares of common stock
(the “Shares”).  

 

E.           Buyer
and NuGene have agreed that the purchase price for the NuGene Shares shall be as set forth in Section 2 below.

 

F.           NuGene
desires to sell the Shares to Buyer and Buyer desires to purchase the Shares from NuGene, all on the terms and subject to the conditions
set forth herein.

 

Now,
therefore, in consideration of the promises and mutual covenants made in this Agreement and for
other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, it is agreed as follows:

 

1.             Incorporation
of Recitals.  The Recitals set forth above are herein incorporated as if restated in their entirety.

 

2.             Sale
and Purchase of Shares; Purchase Price; Closing of Sale 

 

(a)          Sale
and Purchase.  At the Closing (as defined below), NuGene shall sell to Buyer and Buyer shall purchase from NuGene,
the Shares as follows:

 

i.      Minimum
Purchase Amount. At the Closing, Buyer agrees to purchase the Shares from NuGene for a cash consideration of $220,000
(the “Purchase Price”).

 

(b)          Purchase
Price.  The purchase price for the Shares shall be $1.10 per share.

 

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(c)          Closing.  The
closing of the sale and purchase of the NuGene Shares shall take place at a closing date (the “Closing”), which
shall occur no later than two business days following the execution and delivery of this Agreement, or on such other date and at
such other time as may be mutually agreed upon in writing by NuGene and Buyer.  At the Closing, Buyer shall deliver or
cause to be delivered the Purchase Price, in immediately available funds, to NuGene and NuGene shall instruct its Olde Monmouth
Stock Transfer Company LLC, its independent stock transfer agent (the “Transfer Agent”) promptly thereafter
to issue and deliver to Buyer or persons designated by Buyer, a certificate or certificates evidencing Buyer’s ownership
of the Shares.         

 

3.          Lock
Up/Leak Out.

 

(a)          Lock-Up.  For
a period commencing from Closing and ending respectively on the first anniversary of the date thereof ( a “Lock Up Period”),
Buyer shall not without the prior written consent of NuGene, following authorization by the board of directors of the NuGene which
may in its sole discretion decline to provide such authorization, (i) lend, offer, pledge, sell, contract to sell, sell any option
or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise
transfer or dispose of, directly or indirectly, any of the Shares or any securities convertible into or exercisable or exchangeable
for the Shares, or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of the Shares or any securities convertible into or exercisable or exchangeable for the Shares, whether
any such transaction described in clause (i) or (ii) above is to be settled by delivery of stock or such other securities, in cash
or otherwise.

 

(b)          Leak
Out. For a period commencing on the next day after the end of the Lock Up Period and continuing for next twelve consecutive
months (each a “Leak Out Period” and collectively, the “Leak Out Periods”), Buyer shall not
without written consent of NuGene following authorization by the board of directors of NuGene, which in its sole discretion may
be withheld for any reason sell any shares of the NuGene Shares, except in an amount not to exceed 8.33% of NuGene Shares per Leak
Out Period. Any amount of NuGene Shares remaining unsold during any and all prior Leak Out Periods may not be cumulated or added
to the amounts permitted to be sold hereunder during any other Leak Out Periods.

 

(c)          In
the event of the declaration of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization
or a similar transaction affecting NuGene's outstanding securities without receipt of consideration, any new, substituted or additional
securities that are by reason of such transaction distributed with respect to any NuGene Shares subject to the Lock-up and Leak
Out, or into which such NuGene Shares thereby becomes convertible, shall immediately and automatically be subject to the Lock-up
and Leak Out terms herein described.  To enforce the Lock-up and Leak Out, NuGene may impose stop-transfer instructions
with respect to the Securities (as defined in Section 3(d) below) until the end of the Lock-up and Leak Out period.

 

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(d)          Securities.  As
used in this Agreement, the term “Securities” also refers to any securities received in conversion, exercise, or replacement
thereof, or in connection with the Shares, pursuant to stock dividends or splits, all securities received in replacement of the
securities in a recapitalization, merger, reorganization, exchange or the like, and all new, substituted or additional Securities
or other properties to which Buyer is entitled by reason of Buyer’s ownership of the Securities. After the Lock Up Period
Buyer may sell monthly no more than 8.33% of the shares purchased hereunder, and any unsold shares for a particular month may not
be cumulated for sales in subsequent months

 

4.          Legends.  The
certificate or certificates representing the Shares shall bear the following legends (as well
as any legends required by applicable state corporate law and the Securities Laws):

 

(a)          

 

(i)          THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND HAVE BEEN
ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF.  NO SUCH SALE
OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL (OR OTHER
EVIDENCE) IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.

 

(ii)         THE
SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF A SECURITIES PURCHASE AGREEMENT BETWEEN THE
COMPANY AND THE SECURITY HOLDER DATED ____________2015, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.

 

(iii)        THE
SHARES UNDERLYING THIS STOCK CERTIFICATE ARE SUBJECT TO A LOCK-UP/LEAK-OUT AGREEMENT THAT RESTRICTS SALES OF SHARES AND CERTAIN
OTHER DISPOSITIONS THEREOF THROUGH ___________, 2016. AFTER THAT DATE THE HOLDER HEREOF MAY SELL MONTHLY NO MORE THAN 8.33% OF
THE SHARES EVIDENCED BY THIS CERTIFICATE, AND ANY UNSOLD SHARES FOR A PARTICULAR MONTH MAY NOT BE CUMULATED FOR SALES OF SHARES
MADE DURING SUBSEQUENT MONTHS. ADDITIONAL DETAILS OF THESE SHARE TRANSFER RESTRICTIONS MAY BE OBTAINED FROM THE SECRETARY OF THE
COMPANY.

 

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(iv)        Any
legend required to be placed thereon by any appropriate securities commissioner.

 

(b)          Stop-Transfer
Notices.  Buyer agrees that, to ensure compliance with the restrictions referred to herein, NuGene may issue appropriate
“stop transfer” instructions to its transfer agent, if any, and that, if NuGene transfers its own securities, it may
make appropriate notations to the same effect in its own records.

 

(c)          Refusal
to Transfer.  NuGene shall not be required (i) to transfer on its books any of the Shares or Securities that
have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner
of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have
been so transferred.

 

(d)          Removal
of Legend.  The Shares held by Buyer will no longer be subject to the legend referred to above in this Section 4(a)(ii)
and Section 4(a)(iii) following the expiration or termination of the lock-up and leak out provisions of Section 3
(and of any agreement entered pursuant to Section 3).  After such time, and upon Buyer's request, a new certificate
or certificates representing the Shares shall be issued without the legends referred to in Section 4(a)(ii) and Section
4(a)(iii), and delivered to Buyer.

 

5.          Representations
and Warranties.  

 

(a)          NuGene’s
Representations and Warranties. NuGene hereby represents and warrants to Buyer as follows:

 

i.            This
Agreement is a valid and binding obligation of NuGene, enforceable in accordance with its terms and subject to general principles
of equity, regardless of whether considered in a proceeding in equity or at law.

 

ii.         The
consummation by NuGene of the transactions contemplated by this Agreement, including the execution and delivery of this Agreement,
will not conflict with or result in a breach of any of the unwaived terms of any agreement or instrument to which NuGene is bound
or constitute a default thereunder.

 

iii.         NuGene
is a corporation duly organized, validly existing and in good standing under the laws of the State of Nevada and has all requisite
corporate power and authority to carry on its business as now conducted and as proposed to be conducted. NuGene is duly qualified
as a foreign corporation to do business and is in good standing in every jurisdiction in which its ownership or use of property
or the nature of the business conducted by it makes such qualification necessary.

 

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iv.         All
corporate action on the part of NuGene, its officers, directors and shareholders necessary for the authorization, execution and
delivery of the documents pursuant to this Agreement, the performance of all obligations of NuGene under the Agreement, and the
authorization, issuance, sale and delivery of the Securities pursuant hereto has been taken, and this Agreement constitutes a legal,
valid and binding obligation of NuGene, enforceable against NuGene in accordance with its terms, except to the extent limited by
applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors’
rights and general principles of equity that restrict the availability of equitable or legal remedies.

 

v.           The
securities being acquired by Buyer hereunder, when issued, sold and delivered in accordance with the terms of this Agreement for
the consideration expressed herein, will be duly and validly issued, fully paid, and non-assessable, and will be free of liens
or encumbrances other than restrictions on transfer under this Agreement.

 

vi.         Neither
NuGene, nor any of its affiliates, nor any person acting on its or their behalf, has directly or indirectly made any offers or
sales in any security or solicited any offers to buy any security under circumstances that would require registration under the
Securities Act of the issuance of the Securities.  The issuance of the securities will not be integrated (as defined
in Rule 502 of Regulation D as promulgated under the Securities Act of 1933, as amended) with any other issuance of NuGene’s
securities (past, current or future) that would require registration under the Securities Act of the issuance of the securities.

 

vii.         Neither
NuGene nor any person participating on the NuGene’s behalf in the transactions contemplated hereby has conducted any “general
solicitation,” as such term is defined in Regulation D promulgated under the Securities Act, with respect to any securities
sold pursuant to this Agreement.

 

viii.         NuGene
has taken no action which would give rise to any claim by any person for brokerage commissions, transaction fees or similar payments
relating to this Agreement or the transactions contemplated hereby.

 

(b)          Buyer’s
Representations and Warranties.  Buyer hereby represents and warrants to NuGene as follows:

 

i.            This
Agreement is a valid and binding obligation of Buyer, Buyer’s heirs, estate, legal representatives, successors and assigns
and shall inure to the benefit of NuGene, its successors and assigns enforceable in accordance with its terms and subject to general
principles of equity, regardless of whether considered in a proceeding in equity or at law.

 

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ii.         The
consummation by Buyer of the transactions contemplated by this Agreement, including the execution and delivery of this Agreement,
will not conflict with or result in a breach of any of the unwaived terms of any agreement or instrument to which Buyer is bound
or constitute a default thereunder. 

 

iii.         Buyer
is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization with the requisite
corporate or partnership power and authority to enter into and to consummate the transactions contemplated by this Agreement and
otherwise to carry out its obligations hereunder and thereunder.  The execution, delivery and performance by Buyer of
the transactions contemplated by this Agreement have been duly authorized by all necessary corporate actions, on the part of Buyer.

 

(c)          Additional
Buyer Representations and Warranties.  In addition to those representations and warranties of Buyer set forth above,
Buyer hereby further acknowledges, represents and warrants to NuGene, and hereby covenants and agrees to, as follows:

 

i.            No
Registration or Qualification.  Buyer understands and acknowledges that the Shares restricted securities within the
meaning of the federal securities laws and may not currently be sold without registration under the Securities Act of 1933, as
amended (the “Securities Act”).  

 

ii.         Restriction
on Transfer. Without in any way limiting Buyer’s representations and warranties set forth in this Agreement, Buyer covenants
and agrees that Buyer shall not sell or otherwise transfer all or any portion of the Shares, or any interest therein, without registration
or qualification under the Securities Act and the Blue Sky Laws unless Buyer first demonstrates to the satisfaction of NuGene that
specific exemptions from such registration or qualification requirements are available with respect to the proposed transfer and
provides to NuGene an opinion of legal counsel satisfactory to NuGene that the proposed transfer may be made without violation
of the Securities Act and the Blue Sky Laws and will not affect the exemptions relied on by the NuGene in connection with the original
issuance and sale to Buyer of the Purchased Shares.  

 

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iii.         Buyer
Sophistication; "Accredited Investor" Status; Acknowledgment of Receipt of Necessary Information. Buyer is an experienced
and sophisticated investor, Buyer is able to fend for Buyer with respect to Buyer's purchase of the NuGene Shares and Buyer has
such knowledge and experience in financial and business matters that Buyer is capable of evaluating the merits and risks of acquiring
the Purchased Shares.  Buyer is an "accredited investor" as defined in Rule 501 (a) of Regulation D under the
Securities Act.  Buyer has separately investigated and deems itself to be fully aware of NuGene’s business affairs
and financial condition and has acquired sufficient information about NuGene to reach an informed and knowledgeable decision regarding
the merits and risks of investing in and acquiring the NuGene Shares.  Buyer has had ample opportunity to ask questions
of NuGene and NuGene’s representatives and to seek independent investment, tax and legal advice before agreeing to purchase
the NuGene Shares. 

 

iv.         Investment
Purpose.  Buyer is purchasing the NuGene Shares for investment for its own account only and not with a view to, or
for resale in connection with, any “distribution” thereof within the meaning of the Securities Act in violation of
such act.  Buyer further represents that he/she/it does not presently have any contract, undertaking, agreement or arrangement
with any person to sell, transfer or grant participations to such person or to any third person, with respect to any of the NuGene
Shares.  Buyer represents that it has not been formed for the specific purpose of acquiring the NuGene Shares.  

 

v.           Authorization;
Enforcement. This Agreement: (i) has been duly and validly authorized, (ii) has been duly executed and delivered on behalf
of Buyer, and (iii) will constitute, upon execution and delivery by Buyer thereof and NuGene, the valid and binding agreements
of Buyer enforceable in accordance with their terms, except to the extent limited by applicable bankruptcy, insolvency, reorganization,
moratorium or other laws of general application affecting enforcement of creditors’ rights and general principles of equity
that restrict the availability of equitable or legal remedies

 

vi.         Speculative
Investment. Buyer acknowledges that the nature and amount of the investment in the NuGene Shares are consistent with Buyer’s
investment objectives, abilities and resources. Buyer further acknowledges that an investment in the NuGene Shares is a speculative
investment involving a high degree of risk of loss by Buyer and that Buyer could lose the entire amount of Buyer’s investment
in the Shares. Buyer has had the opportunity to review the filings made by NuGene with the Securities and Exchange Commission and
is familiar with the extensive risks that are recited therein and with the financial statements contained in those filings. Buyer
has reviewed and is familiar with the early stage financial and other information contained in those filings. Buyer has no need
for liquidity in this purchase of the Shares, is able to bear the economic risk of Buyer’s investment in the Shares and currently
can afford a complete loss of that investment. Buyer further represents that except as set herein, no officer or other person associated
with NuGene has made any prediction, forecast or other representation concerning the Shares or the current or future prospects
of NuGene. 

 

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vii.         Professional
Advice.  The pricing and other terms of the NuGene Shares as set forth in this Agreement have been determined
at arm's length in negotiations between the parties and they are wholly arbitrary and do not necessarily bear any relationship
to underlying current or future revenue, profit, or indices of value.

 

viii.         Legends.
Buyer acknowledges that the share certificates issued in respect of the NuGene Shares, unless subject to an effective registration
statement or otherwise not considered “restricted securities” pursuant to Rule 144, shall have placed thereon such
legends as apply to “restricted securities” as may be required under applicable laws and regulations as noted above
in this Agreement.

 

ix.         Communications
of Offer. Buyer is not purchasing the Shares as a result of any “general solicitation” or “general advertising,”
as such terms are defined in Regulation D of the Securities Act, which includes, but is not limited to, any advertisement, article,
notice or other communication regarding the Shares published in any newspaper, magazine or similar media or on the internet or
broadcast over television, radio or the internet or presented at any seminar or any other general solicitation or general advertisement

 

x.         The
execution, delivery and performance by Buyer of this Agreement and the consummation by Buyer of the transactions contemplated hereby
will not (i) result in a violation of the organizational documents of Buyer, (ii) conflict with, or constitute a default
(or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation of, any agreement, indenture or instrument to which Buyer is a party, or (iii) result
in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable
to Buyer.

 

xi.            Reliance
on Buyer Representations, Warranties, Etc. Buyer understands that NuGene is relying upon all of Buyer's representations, warranties,
acknowledgements, understandings, agreements and covenants contained in this Agreement.

 

xii.         NuGene
Rights. NuGene shall not be required (A) to transfer on NuGene’s books any of the Shares that are or have been sold or
transferred in violation of any of the terms or provisions set forth in this Agreement, or (B) to treat as owner of such Shares,
or (C) to accord voting rights associated with the ownership of such Shares or (D) to pay dividends to, any transferee to whom
such Shares have been so transferred.  

 

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6.          Miscellaneous.  

 

(a)          Notices.
Any notice or other communication required or permitted under this Agreement shall be given in writing and shall be sent by registered
or certified mail with postage and fees prepaid, addressed to the other party hereto at the address set forth below or at other
party hereto.

 

If
to NuGene:

 

NuGene International, Inc.

17912
Cowan

Irvine, California
92614

 

If
to Buyer:

	 	 
	 
	 
	 

 

(b)          Governing
Law. The validity, construction, interpretation and enforceability of this Agreement shall be determined and governed by the
laws of the State of California.  Notwithstanding the foregoing, if any law or set of laws in the State of California
requires or otherwise dictates that the laws of another state or jurisdiction must be applied in any proceeding involving this
Agreement, then such California law or set of laws shall be superseded by this subsection, and the remaining laws of the State
of California nonetheless shall be applied in such proceeding.

 

(c)          Choice
of Forum. Any judicial proceeding brought by any party hereto as a result of a dispute or controversy arising out of or related
to this Agreement shall be commenced in courts located within Orange County, California. All parties hereto agree to submit to
the jurisdiction of the federal and state courts located within such county in the event of such a dispute or controversy.

 

(d)          Survival
of Representations, Warranties. Covenants and Agreements. The representations, warranties, covenants and agreements contained
in this Agreement shall not be discharged or dissolved upon the Closing, but shall survive and remain in full force and effect
for Three Hundred Sixty Five days following the date of this Agreement.

 

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(e)          Severability.
If any sentence, paragraph, clause or combination of the same in this Agreement is held by a court of competent jurisdiction to
be unenforceable in any jurisdiction, then such sentence, paragraph, clause or combination shall be unenforceable in the jurisdiction
where it is so held invalid, and the remainder of this Agreement shall remain binding on the parties hereto in such jurisdiction
as if such unenforceable provision had not been contained herein. The enforceability of such sentence, paragraph, clause or combination
of the same in this Agreement otherwise shall be unaffected and shall remain enforceable in all other jurisdictions.         

 

(f)          No
Waiver. The failure of any party hereto at any time to require performance by the other party hereto of any term or provision
of this Agreement shall not affect the right of such party to require performance of that term or provision, and any waiver by
any party here of any breach of any term or provision of this Agreement shall not be construed as waiver of any continuing or succeeding
breach of such term or provision, a waiver of the term or provision itself or a waiver of any right under this Agreement.

 

(g)          Written
Amendments. This Agreement may not be modified, amended, altered or changed in any respect whatsoever except by further agreement
in writing, duly executed by all parties hereto. No oral statements or representations made after the date of this Agreement by
either party hereto are binding on such party, and neither party hereto shall have the right to rely on such oral statements or
representations.

 

(h)          Assignment.
Neither this Agreement nor any of the rights, interests or obligations of either party hereto arising under this Agreement may
be assigned by either party hereto without the prior written consent of the other party hereto.

 

(i)          Successors.
This Agreement shall be binding on and shall inure to the benefit of the parties hereto and their respective heirs, successors,
subcontractors, personal representatives and permitted assigns.

 

(j)          Headings
and Captions. The headings and captions appearing at the beginning of each Section and subsection of this Agreement are included
herein for the convenience of reference only do not constitute a part of this Agreement and shall not be deemed to limit, characterize
or in any way affect any term or provision of this Agreement or its interpretation. This Agreement shall be enforced and construed
as if no headings or captions appeared herein.

 

(k)          Attorneys'
Fees. If a dispute arises with respect to this Agreement, then the party prevailing in such dispute shall be entitled to recover
all expenses, including, without limitation, reasonable attorneys' fees and expenses, incurred in ascertaining such party's rights
and in preparing to enforce and in enforcing such party's rights under this Agreement, whether or not it was necessary for such
party to institute suit.

 

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(l)          Entire
Agreement. This Agreement constitutes and shall be deemed to contain the entire agreement between the parties hereto with respect
to the subject matter hereof and supersedes all prior oral and written agreements or representations with respect to the subject
matter hereof that are not expressly set forth herein.

 

(m)          Counterpart
Execution. This Agreement may be executed simultaneously in counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same original.

 

(n)          Facsimile
Transmission. The confirmed facsimile transmission by one party hereto of a signed copy of the signature page of this Agreement
to the other party hereto or such party's agent shall constitute the delivery of this Agreement. Each party hereto agrees to confirm
such delivery by mailing or personally delivering to the other party hereto or such party's agent an executed original of this
Agreement in its entirety.

 

IN WITNESS WHEREOF, the
parties hereto have executed and delivered this Securities Purchase Agreement effective
as of the date first written above.

 

	NUGENE INTERNATIONAL, INC	 	 
	 	 	 
	 	 	 
	By:	 	 
		M. Ali Kharazmi 	Date	 
		President	 	 
	 	 	 
	Buyer	 	 
	 	 
	 	Date	 

 

 

    	- 11 -Upland-BHenleySeparationAgmt3-31-15FINAL

SEPARATION AGREEMENT AND RELEASE

This Separation Agreement and Release (“Agreement”) is made by and between R. Brian Henley (“Employee”) and Upland Software, Inc. (formerly known as Silverback Acquisition Corporation and Silverback Enterprise Group, Inc., and referred to herein as the “Company”) (collectively referred to as the “Parties” or individually referred to as a “Party”).

RECITALS

WHEREAS, Employee was employed by the Company;

WHEREAS, Employee signed an offer letter with the Company dated January 10, 2013 (the “Offer Letter”);

WHEREAS, Employee signed an Executive Employment Agreement with the Company dated July 25, 2014, which superseded the Offer Letter in its entirety (the “Employment Agreement”);
WHEREAS, the Company and Employee have entered into a Stock Option Agreement, dated October 25, 2013 (the “2013 Option Agreement”) and a Stock Option Agreement, dated March 31, 2014 (the “2014 Option Agreement” and, together with the 2013 Option Agreement, the “Stock Option Agreements”) granting Employee the option to purchase shares of the Company’s common stock subject to the terms and conditions of the Company’s 2010 Stock Plan (the “Plan”) and the Stock Option Agreements (the “Stock Options”);

WHEREAS, the Company and Employee have entered into a Restricted Stock Purchase Agreement, dated September 2, 2014 (the “RSPA”), granting Employee the right to purchase shares of the Company’s common stock subject to the terms and conditions of the Plan and the RSPA (the “Restricted Stock”);

WHEREAS, Employee voluntarily resigned from the Company effective March 31, 2015 (the “Separation Date”); and

WHEREAS, following his separation from the Company, Employee will be employed by a company whose business is enterprise software (“New Employer”); and
WHEREAS, the Company and Employee desire that Employee have a consulting opportunity with the Company following the Separation Date, subject to the terms set forth below; and

WHEREAS, the Parties wish to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions, and demands that the Employee may have against the Company and any of the Releasees as defined below, including, but not limited to, any and all claims arising out of or in any way related to Employee’s employment with or separation from the Company;

NOW, THEREFORE, in consideration of the mutual promises made herein, the Company and Employee hereby agree as follows:

AGREEMENT

1 of 10

1.Consideration.  In consideration of Employee’s execution of this Agreement and Employee’s fulfillment of all of its terms and conditions, and provided that Employee does not revoke the Agreement under paragraph 8 below, the Company agrees as follows:

a.    Non-Compete Waiver.  The Company agrees to waive Section 7(a) of the Confidentiality Agreement (as defined below) with respect to Employee’s employment relationship with New Employer, provided that all other provisions of the Confidentiality Agreement, including, without limitation, Employee’s obligations regarding Company Confidential Information (as defined therein), shall remain in full force and effect with respect to New Employer.  This limited waiver applies to Employee’s relationship with New Employer only, and should not be construed to be a complete or general waiver of Section 7(a). 

b.    Consulting Opportunity.  As additional consideration for this Agreement, the Company is offering Employee the opportunity to enter into a consulting arrangement with the Company as set forth in paragraph 3 below.

c.    General.  Employee acknowledges that without this Agreement, he is otherwise not entitled to the consideration listed in this paragraph 1.

2.Referral of Cloud Based Deals.  In exchange for the limited waiver in Section 1(a) above, during the term of the Consulting Agreement (as defined below), Employee agrees that he will refer Enterprise Work Management cloud based deals that he sources out of the relationships he established, developed, or fostered during his employment with the Company (including without limitation from his banker network, company contacts, and referral agents).

3.Consulting Agreement. As referenced in paragraph 1(b) above, in consideration of this Agreement, the Company will provide Employee with an opportunity to serve as a Company consultant pursuant to the terms and conditions of a Consulting Agreement substantially in the form of attached hereto as Exhibit A (the “Consulting Agreement”).  During the period Employee is providing services pursuant to the Consulting Agreement, he shall continue to vest in the Stock Options and Restricted Stock as described in greater detail in Section 4 below and in the Consulting Agreement.  Employee’s consulting services and any related consideration for such services is contingent upon Employee’s execution of and compliance with the Consulting Agreement as well as Employee’s compliance with the terms and conditions of this Agreement.  The Company shall have no obligation to enter into the Consulting Agreement (or to provide any consideration in connection therewith) if this Agreement does not become effective.

4.Stock Details.  

a.Restricted Stock.  As of the Separation Date, Employee agrees that pursuant to the RSPA, he was vested in, and the Repurchase Option (as defined in the RSPA) had lapsed as to, no shares of the Restricted Stock.  During the period Employee is providing services pursuant to the Consulting Agreement, he shall continue to vest in the Restricted Stock as described in greater detail in the Consulting Agreement.  All shares of the Restricted Stock subject to the RSPA shall continue to be subject to all other terms and conditions of the RSPA and the Plan.

Page 2 of 10

b.Stock Option.  As of the Separation Date, Employee agrees that pursuant to his Stock Option Agreement, he was vested in 17,216 Stock Options under the 2013 Option Agreement, and 1,639 Stock Options under the 2014 Option Agreement.  During the period Employee is providing services pursuant to the Consulting Agreement, he shall continue to vest in the Stock Options as described in greater detail in the Consulting Agreement.  The exercise of Employee’s Stock Options shall continue to be governed by the terms and conditions of his respective Stock Option Agreements and the Plan.  

5.Benefits.  Employee’s health insurance benefits shall cease on March 31, 2015, subject to Employee’s right to continue his health insurance under COBRA.  Employee’s participation in all benefits and incidents of employment, including, but not limited to, the accrual of bonuses, vacation, and paid time off, ceased as of the Separation Date.

6.Payment of Salary and Receipt of All Benefits.  Employee acknowledges and represents that, other than the consideration set forth in this Agreement, the Company has paid or provided all salary, wages, bonuses, accrued vacation/paid time off, premiums, leaves, housing allowances, relocation costs, interest, severance, outplacement costs, fees, reimbursable expenses, commissions, stock, stock options, vesting, and any and all other benefits and compensation due to Employee.

7.Release of Claims.  Employee agrees that the foregoing consideration represents settlement in full of all outstanding obligations owed to Employee by the Company and its current and former officers, directors, employees, agents, investors, attorneys, shareholders, administrators, affiliates, benefit plans, plan administrators, insurers, trustees, parents, divisions, and subsidiaries, and predecessor and successor corporations and assigns (collectively, the “Releasees”).  Employee, on his own behalf and on behalf of his respective heirs, family members, executors, agents, and assigns, hereby and forever releases the Releasees from, and agrees not to sue concerning, or in any manner to institute, prosecute, or pursue, any claim, complaint, charge, duty, obligation, or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Employee may possess against any of the Releasees arising from any omissions, acts, facts, or damages that have occurred up until and including the Effective Date of this Agreement, including, without limitation:

a.    any and all claims relating to or arising from Employee’s employment relationship with the Company and the termination of that relationship, including without limitation any claims under the Offer Letter or Employment Agreement; 

b.    any and all claims relating to, or arising from, Employee’s right to purchase, or actual purchase of shares of stock of the Company, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law;

c.    any and all claims for wrongful discharge of employment; constructive discharge; termination in violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; 

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personal injury; assault; battery; invasion of privacy; false imprisonment; conversion; and disability benefits;

d.    any and all claims for violation of any federal, state, or municipal statute, including, but not limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay Act; the Fair Labor Standards Act; the Fair Credit Reporting Act; the Age Discrimination in Employment Act of 1967; the Older Workers Benefit Protection Act; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the Family and Medical Leave Act; the Sarbanes-Oxley Act of 2002; the Texas Payday Act; Texas Workers’ Compensation Act; and Chapter 21 of the Texas Labor Code (also known as the Texas Commission on Human Rights Act);

e.    any and all claims for violation of the federal or any state constitution;

f.    any and all claims arising out of any other laws and regulations relating to employment or employment discrimination;

g.    any claim for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax treatment of any of the proceeds received by Employee as a result of this Agreement; and

h.    any and all claims for attorneys’ fees and costs.

Employee agrees that the release set forth in this section shall be and remain in effect in all respects as a complete general release as to the matters released.  This release does not extend to any obligations incurred under this Agreement.  This release does not release claims that cannot be released as a matter of law, including, but not limited to, Employee’s right to file a charge with or participate in a charge by the Equal Employment Opportunity Commission, or any other local, state, or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, against the Company (with the understanding that any such filing or participation does not give Employee the right to recover any monetary damages against the Company; Employee’s release of claims herein bars Employee from recovering such monetary relief from the Company).

8.Acknowledgment of Waiver of Claims under ADEA.  Employee acknowledges that he is waiving and releasing any rights he may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary.  Employee agrees that this waiver and release does not apply to any rights or claims that may arise under the ADEA after the Effective Date of this Agreement.  Employee acknowledges that the consideration given for this waiver and release is in addition to anything of value to which Employee was already entitled.  Employee further acknowledges that he has been advised by this writing that: (a) he should consult with an attorney prior to executing this Agreement; (b) he has twenty-one (21) days within which to consider this Agreement; (c) he has seven (7) days following his execution of this Agreement to revoke this Agreement; (d) this Agreement shall not be effective until after the revocation period has expired; and (e) nothing in this Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by federal law.  In the event Employee signs this Agreement and returns it to the Company in less than the 21-day period 

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identified above, Employee hereby acknowledges that he has freely and voluntarily chosen to waive the time period allotted for considering this Agreement.  Employee acknowledges and understands that revocation must be accomplished by a written notification to Mike Hill, the Company’s Chief Financial Officer, at mhill@uplandsoftware.com, that is received prior to the Effective Date.  The Parties agree that changes to this Agreement, whether material or immaterial, do not restart the running of the 21-day consideration period referenced above.

9.Unknown Claims.  Employee acknowledges that he has been advised to consult with legal counsel and that he is familiar with the principle that a general release does not extend to claims that the releaser does not know or suspect to exist in his favor at the time of executing the release, which, if known by him/her, must have materially affected his settlement with the releasee.  Employee, being aware of said principle, agrees to expressly waive any rights he may have to that effect, as well as under any other statute or common law principles of similar effect.

10.No Pending or Future Lawsuits.  Employee represents that he has no lawsuits, claims, or actions pending in his name, or on behalf of any other person or entity, against the Company or any of the other Releasees.  Employee also represents that he does not presently intend to bring any claims on his own behalf or on behalf of any other person or entity against the Company or any of the other Releasees.

11.Application for Employment.  Employee understands and agrees that, as a condition of this Agreement, Employee shall not be entitled to any employment with the Company, and Employee hereby waives any right, or alleged right, of employment or re-employment with the Company.

12.Confidentiality.  Employee agrees to maintain in complete confidence the existence of this Agreement, the contents and terms of this Agreement, and the consideration for this Agreement (hereinafter collectively referred to as “Separation Information”).  Except as required by law, Employee may disclose Separation Information only to his immediate family members, the Court in any proceedings to enforce the terms of this Agreement, Employee’s counsel, and Employee’s accountant and any professional tax advisor to the extent that they need to know the Separation Information in order to provide advice on tax treatment or to prepare tax returns, and must prevent disclosure of any Separation Information to all other third parties.  Employee agrees that he will not publicize, directly or indirectly, any Separation Information.

Employee acknowledges and agrees that the confidentiality of the Separation Information is of the essence and a material term of this Agreement.  The Parties agree that if the Company proves that Employee breached this Confidentiality provision, the Company shall be entitled to an award of its costs spent enforcing this provision, including all reasonable attorneys’ fees associated with the enforcement action, without regard to whether the Company can establish actual damages from Employee’s breach, except to the extent that such breach constitutes a legal action by Employee that directly pertains to the ADEA. Any such individual breach or disclosure shall not excuse Employee from his obligations hereunder, nor permit him to make additional disclosures.  Employee warrants that he has not disclosed, orally or in writing, directly or indirectly, any of the Separation Information to any unauthorized party.

13.Trade Secrets and Confidential Information/Company Property.  Employee acknowledges and agrees that he signed the Company’s form of Employee Proprietary Information 

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Agreement on or about January 10, 2013 (the “Confidentiality Agreement”).  Employee reaffirms and agrees to observe and abide by the terms of the Confidentiality Agreement, specifically including the provisions regarding nondisclosure of the Company’s trade secrets and confidential and proprietary information, and any restrictive covenants contained therein (as modified by Section 1(a) above).  Employee’s signature below constitutes his certification under penalty of perjury that he has returned all documents and other items provided to Employee by the Company, developed or obtained by Employee in connection with his employment with the Company, or otherwise belonging to the Company.

14.No Cooperation.  Employee agrees that he will not knowingly encourage, counsel, or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third party against any of the Releasees, unless under a subpoena or other court order to do so or as related directly to the ADEA waiver in this Agreement.  Employee agrees both to immediately notify the Company upon receipt of any such subpoena or court order, and to furnish, within three (3) business days of its receipt, a copy of such subpoena or other court order.  If approached by anyone for counsel or assistance in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints against any of the Releasees, Employee shall state no more than that he cannot provide counsel or assistance.

15.Non-Disparagement.  Employee agrees to refrain from any disparagement, defamation, libel, or slander of any of the Releasees, and agrees to refrain from any tortious interference with the contracts and relationships of any of the Releasees.  Employee shall direct any inquiries by potential future employers to the Company’s human resources department, which shall use its best efforts to provide only the Employee’s last position and dates of employment.

16.Breach.  In addition to the rights provided under the “Attorneys’ Fees” section below, Employee acknowledges and agrees that any material breach of this Agreement, unless such breach constitutes a legal action by Employee challenging or seeking a determination in good faith of the validity of the waiver herein under the ADEA, or of any provision of Consulting Agreement or the Confidentiality Agreement shall entitle the Company immediately to recover and/or cease providing the consideration provided to Employee under this Agreement and to obtain damages, except as provided by law.

17.No Admission of Liability.  Employee understands and acknowledges that this Agreement constitutes a compromise and settlement of any and all actual or potential disputed claims by Employee.  No action taken by the Company hereto, either previously or in connection with this Agreement, shall be deemed or construed to be (a) an admission of the truth or falsity of any actual or potential claims or (b) an acknowledgment or admission by the Company of any fault or liability whatsoever to Employee or to any third party.

18.Costs.  The Parties shall each bear their own costs, attorneys’ fees, and other fees incurred in connection with the preparation of this Agreement.

19.ARBITRATION.  THE PARTIES AGREE THAT ANY AND ALL DISPUTES ARISING OUT OF THE TERMS OF THIS AGREEMENT, THEIR INTERPRETATION, AND ANY OF THE MATTERS HEREIN RELEASED, SHALL BE SUBJECT TO ARBITRATION IN TRAVIS COUNTY, TEXAS BEFORE JAMS, THE RESOLUTION EXPERTS (“JAMS”), PURSUANT TO 

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ITS EMPLOYMENT ARBITRATION RULES & PROCEDURES (“JAMS RULES”).  THE ARBITRATOR MAY GRANT INJUNCTIONS AND OTHER RELIEF IN SUCH DISPUTES.  THE ARBITRATOR SHALL ADMINISTER AND CONDUCT ANY ARBITRATION IN ACCORDANCE WITH TEXAS LAW, AND THE ARBITRATOR SHALL APPLY SUBSTANTIVE AND PROCEDURAL TEXAS LAW TO ANY DISPUTE OR CLAIM, WITHOUT REFERENCE TO ANY CONFLICT-OF-LAW PROVISIONS OF ANY JURISDICTION.  TO THE EXTENT THAT THE JAMS RULES CONFLICT WITH TEXAS LAW, TEXAS LAW SHALL TAKE PRECEDENCE.  THE DECISION OF THE ARBITRATOR SHALL BE FINAL, CONCLUSIVE, AND BINDING ON THE PARTIES TO THE ARBITRATION.  THE PARTIES AGREE THAT THE PREVAILING PARTY IN ANY ARBITRATION SHALL BE ENTITLED TO INJUNCTIVE RELIEF IN ANY COURT OF COMPETENT JURISDICTION TO ENFORCE THE ARBITRATION AWARD.  THE PARTIES TO THE ARBITRATION SHALL EACH PAY AN EQUAL SHARE OF THE COSTS AND EXPENSES OF SUCH ARBITRATION, AND EACH PARTY SHALL SEPARATELY PAY FOR ITS RESPECTIVE COUNSEL FEES AND EXPENSES; PROVIDED, HOWEVER, THAT THE ARBITRATOR SHALL AWARD ATTORNEYS’ FEES AND COSTS TO THE PREVAILING PARTY, EXCEPT AS PROHIBITED BY LAW.  THE PARTIES HEREBY AGREE TO WAIVE THEIR RIGHT TO HAVE ANY DISPUTE BETWEEN THEM RESOLVED IN A COURT OF LAW BY A JUDGE OR JURY.  NOTWITHSTANDING THE FOREGOING, THIS SECTION WILL NOT PREVENT EITHER PARTY FROM SEEKING INJUNCTIVE RELIEF (OR ANY OTHER PROVISIONAL REMEDY) FROM ANY COURT HAVING JURISDICTION OVER THE PARTIES AND THE SUBJECT MATTER OF THEIR DISPUTE RELATING TO THIS AGREEMENT AND THE AGREEMENTS INCORPORATED HEREIN BY REFERENCE.  SHOULD ANY PART OF THE ARBITRATION AGREEMENT CONTAINED IN THIS PARAGRAPH CONFLICT WITH ANY OTHER ARBITRATION AGREEMENT BETWEEN THE PARTIES, THE PARTIES AGREE THAT THIS ARBITRATION AGREEMENT SHALL GOVERN.

20.Tax Consequences.  The Company makes no representations or warranties with respect to the tax consequences of the payments and any other consideration provided to Employee or made on his behalf under the terms of this Agreement.  Employee agrees and understands that he is responsible for payment, if any, of local, state, and/or federal taxes on the payments and any other consideration provided hereunder by the Company and any penalties or assessments thereon.  Employee further agrees to indemnify and hold the Company harmless from any claims, demands, deficiencies, penalties, interest, assessments, executions, judgments, or recoveries by any government agency against the Company for any amounts claimed due on account of (a) Employee’s failure to pay or the Company’s failure to withhold, or delayed payment of, federal or state taxes, or (b) damages sustained by the Company by reason of any such claims, including attorneys’ fees and costs.

21.Authority.  The Company represents and warrants that the undersigned has the authority to act on behalf of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Agreement.  Employee represents and warrants that he has the capacity to act on his own behalf and on behalf of all who might claim through him to bind them to the terms and conditions of this Agreement.  Each Party warrants and represents that there are no liens or claims of lien or assignments in law or equity or otherwise of or against any of the claims or causes of action released herein.

22.No Representations.  Employee represents that he has had an opportunity to consult with an attorney, and has carefully read and understands the scope and effect of the provisions of this 

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Agreement.  Employee has not relied upon any representations or statements made by the Company that are not specifically set forth in this Agreement.

23.No Waiver.  The failure of the Company to insist upon the performance of any of the terms and conditions in this Agreement, or the failure to prosecute any breach of any of the terms or conditions of this Agreement, shall not be construed thereafter as a waiver of any such terms or conditions.  This entire Agreement shall remain in full force and effect as if no such forbearance or failure of performance had occurred.

24.Severability.  In the event that any provision or any portion of any provision hereof or any surviving agreement made a part hereof becomes or is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable, or void, this Agreement shall continue in full force and effect without said provision or portion of provision.

25.Attorneys’ Fees.  Except with regard to a legal action challenging or seeking a determination in good faith of the validity of the waiver herein under the ADEA, in the event that either Party brings an action to enforce or effect its rights under this Agreement, the prevailing Party shall be entitled to recover its costs and expenses, including the costs of mediation, arbitration, litigation, court fees, and reasonable attorneys’ fees incurred in connection with such an action.

26.Entire Agreement.  This Agreement, together with the Consulting Agreement, represents the entire agreement and understanding between the Company and Employee concerning the subject matter of this Agreement and Employee’s employment with and separation from the Company and the events leading thereto and associated therewith, and supersedes and replaces any and all prior agreements and understandings concerning the subject matter of this Agreement and Employee’s relationship with the Company, with the exception of the Confidentiality Agreement, the RSPA, the Stock Option Agreements, and the Plan.

27.No Oral Modification.  This Agreement may only be amended in a writing signed by Employee and the Company’s Chief Executive Officer.

28.Governing Law.  This Agreement shall be governed by the laws of the State of Texas, without regard for choice-of-law provisions.  Employee consents to personal and exclusive jurisdiction and venue in the State of Texas.

29.Effective Date.  Each Party has seven (7) days after that Party signs this Agreement to revoke it.  This Agreement will become effective on the eighth (8th) day after Employee signed this Agreement, so long as it has been signed by the Parties and has not been revoked by either Party before that date (the “Effective Date”).  Employee understands that this Agreement shall be null and void if not executed by Employee within the twenty-one (21) day period set forth under paragraph 8 above.

30.Counterparts.  This Agreement may be executed in counterparts and by facsimile, and each counterpart and facsimile shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned.

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31.Voluntary Execution of Agreement.  Employee understands and agrees that he executed this Agreement voluntarily, without any duress or undue influence on the part or behalf of the Company or any third party, with the full intent of releasing all of his claims against the Company and any of the other Releasees.  Employee acknowledges that:

a.    he has read this Agreement;

b.    he has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of his own choice or has elected not to retain legal counsel;

c.    he understands the terms and consequences of this Agreement and of the releases it contains; and

d.    he is fully aware of the legal and binding effect of this Agreement.

[Remainder of Page Blank; Signature Page Follows]

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IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below.

R. BRIAN HENLEY, an individual

Dated:  3/31/15     /s/ R. Brian Henley                                          
R. Brian Henley

UPLAND SOFTWARE, INC.

Dated:  3/31/15    By  /s/ John McDonald                                      
John McDonald
Chief Executive Officer

EXHIBIT A

Consulting Agreement

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