Document:

Exhibit 10.14

 Exhibit 10.14 
 AMERICAN CAPITAL, LTD. 
 DISINTERESTED
DIRECTOR RETENTION PLAN1 
 1.
Definitions. In this Plan, except where the context otherwise indicates, the following definitions shall apply: 
 1.1. “1940
Act” means the Investment Company Act of 1940, as amended. 
 1.2. “Account” means a separate bookkeeping account maintained
on behalf of each Participant. The value of a Participant’s account as of any date on or before December 11, 2008, shall equal the product of (a) the Annual Board Fee in effect for such participant for such date and (b) the sum
of (i) a whole number equal to the number of full Years of Service accrued by such participant as of such date, and (ii) one (1). The value of a Participant’s Account from December 12, 2008, forward shall be as follows:

  

				
	 Neil Hahl
	  	$	1,225,000
	 Philip R. Harper
	  	$	1,225,000
	 Alvin N. Puryer
	  	$	1,125,000
	 Mary C. Baskin
	  	$	950,000
	 Kenneth D. Peterson, Jr.
	  	$	891,667
	 John Koskinen
	  	$	283,333

 No interest or other earning shall be credited to Accounts under the Plan. 
 1.3. “Affiliate” means any corporation, partnership, business trust, limited liability company or other form of business organization at least
a majority of the total combined voting power of all classes of stock or other equity interests of which is owned by the Company, either directly or through one or more other Affiliates. 
 1.4. “Annual Board Fee” means for a Participant the annual board retainer fee as in effect on such Participant’s Payment Event Date, and
shall not include fees paid for meeting attendance or any additional retainers such as those paid to chairs of Board committees or to the lead director. 
 1.5. “Board” means the Board of Directors of the Company. 
 1.6. “Change of Control”
means a change in ownership or effective control (within the meaning of Section 409A of the Code) of the Company. 
  

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	 As amended, December 11, 2008. 

 1.7. “Code” means the Internal Revenue Code of 1986, as amended. 
 1.8. “Committee” means the committee appointed by the Board to administer this Plan. Unless otherwise determined by the Board, the Compensation
and Corporate Governance Committee of the Board shall be the Committee. 
 1.9. “Commencement Date” means the date on which an
individual becomes an Eligible Individual. 
 1.10. “Company” means American Capital, Ltd., a Delaware corporation, and any
successor thereto. 
 1.11. “Director” means a member of the Board. 
 1.12. “Disabled” means “disabled” within the meaning of Section 409A of the Code. 
 1.13. “Effective Date” means July 27, 2006. 
 1.14. “Eligible Individual” means any Director of the Company who is not “interested” as defined in the 1940 Act. 
 1.15. “Participant” means an Eligible Individual who has satisfied the requirements of Section 4 hereof. 
 1.16. “Payment Event Date” means for a Participant the earliest to occur of (a) the date of such Participant’s Separation from Service, (b) the date of such Participant becoming Disabled,
(c) the date of such Participant’s death, or (d) the date of a Change of Control. 
 1.17. “Plan” means this
American Capital, Ltd. Disinterested Director Retention Plan, as amended from time to time. 
 1.18. “Separation from Service”
means a “separation from service” within the meaning of Section 409A of the Code. 
 1.19. “Year of Service” means
for a Participant each one-year period commencing on a Participant’s Commencement Date or anniversary thereof during which such Participant continues to be an Eligible Individual. 
 2. Purpose. The Plan is intended to assist the Company in attracting and retaining Eligible Individuals of outstanding ability. 
 3. Administration. The Committee shall administer the Plan. Subject to the provisions of the Plan, the Committee shall have plenary authority and
discretion to construe and interpret the Plan, to prescribe, amend and rescind rules and regulations relating to the Plan and to make all other determinations deemed necessary or advisable for the administration of the Plan. The determinations of
the Committee on the matters referred to in this Section 3 shall be binding and final. 
  

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 4. Eligibility. 
 4.1. Each person who is an Eligible Individual as of the Effective Date shall be a Participant as of the Effective Date. 
 4.2. Each person who becomes an Eligible Individual subsequent to the Effective Date shall become a Participant on the one-year anniversary of such Eligible Individual’s Commencement Date if such Eligible
Individual does not die, become Disabled, experience a Separation from Service, or otherwise cease to be an Eligible Individual prior to such one-year anniversary. 
 5. Vesting. 
 5.1. Each person who is a Participant as of the Effective Date shall become vested in
his or her Account as follows: 
  

				
	 Date
	  	Percentage
of Account
Vested	 
	 August 1, 2006
	  	20	%
	 February 1, 2007
	  	40	%
	 August 1, 2007
	  	60	%
	 February 1, 2008
	  	80	%
	 August 1, 2008
	  	100	%

 Notwithstanding the foregoing, each such Participant shall become fully vested in his or her Account immediately
upon the Participant’s death or becoming Disabled, or upon the occurrence of a Change of Control. 
 5.2. Each other Participant shall
be fully vested in his or her Account immediately upon becoming a Participant. 
 5.3. Notwithstanding any other provision of this Plan, the
entirety of a Participant’s Account shall be immediately forfeited upon such Participant’s Separation from Service upon unanimous vote of the other members of the Board of Directors. In such case, such Participant shall cease to be an
Eligible Individual, and no amount shall be or ever become payable under this Plan to any such Participant. 
 6. Payment of Accounts.
Except as provided in Section 5.3, the Company shall pay to each Participant whose Account is vested as of such Participant’s Payment Event Date (or, in the event of the Participant’s death, his or her estate or designated
beneficiary) an amount equal to the value of his or her Account in a lump sum in cash within one month of such Participant’s Payment Event Date. 
  

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 7. Termination or Amendment. The Board may amend or terminate this Plan in any respect at any
time; provided, however, that no amendment or termination of this Plan shall be made by the Board without approval of each affected Participant if such amendment or termination would adversely affect such Participant’s rights or obligations
under this Plan. 
 8. Withholding. The Company’s obligation to pay to any Participant any amount hereunder shall be subject to
satisfaction of any applicable federal, state and local tax withholding requirements. 
 9. Indemnification of Committee. In addition
to such other rights of indemnification as they may have as members of the Board or the Committee, members of the Committee (and such person(s) to whom the Committee delegates its powers or responsibilities) shall be indemnified by the Company
against all reasonable expenses, including attorneys’ fees, actually and reasonably incurred in connection with the defense of any action, suit or proceeding, or in connection with any appeal therein, to which they or any of them may be a party
by reason of any action taken or failure to act under or in connection with this Plan or any Bonus Award granted hereunder, and against all amounts reasonably paid by them in settlement thereof or paid by them in satisfaction of a judgment in any
such action, suit or proceeding, if such members acted in good faith and in a manner which they believed to be in, and not opposed to, the best interests of the Company. 
 10. General Provisions. 
 10.1. The establishment of this Plan shall not confer upon any Participant
any legal or equitable right against the Company, any Affiliate or the Committee, except as expressly provided in this Plan. 
 10.2.
Participation in this Plan shall not give an Eligible Individual any right to be retained in the service of the Company or any Affiliate as a Director or otherwise. 
 10.3. The interests of any Participant under this Plan are not subject to the claims of the Participant’s creditors and may not, in any way, be assigned, alienated or encumbered. 
 10.4. This Plan shall be governed, construed and administered in accordance with the laws of the State of Delaware. 
 10.5. The Company may, in its discretion, establish a trust to fund the payment of Accounts. Notwithstanding the establishment of any trust, (a) all
credits and adjustments to a Participant’s Account shall be bookkeeping entries only and shall not represent a special reserve or otherwise constitute a funding of the Company’s unsecured promise to pay any amounts hereunder, and
(b) to the extent that a Participant or any other person acquires a right to receive payments from the Company under this Plan, such 

  

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right shall be no greater than the right of any unsecured general creditor of the Company, and such person has only the unsecured promise of the Company that
such payments shall be made. The Plan is intended to be an unfunded plan for the benefit of non-employee directors, exempt from the Employee Retirement Income Security Act of 1974, as amended. 
 10.6. This Plan is intended to comply with Section 409A of the Code, and the Committee shall administer and interpret this Plan in a manner that is
consistent therewith. 
  

 5Amendment No. 1 to the Amended and Restated Preferred Rights Stock Agreement

 Exhibit 4.3 
 AMENDMENT NO. 1 TO THE RIGHTS AGREEMENT 
 This Amendment No. 1 to the Amended and Restated
Preferred Stock Rights Agreement (this “Amendment”) is dated as of February 24, 2009 and amends that Amended and Restated Rights Agreement, dated as of October 27, 2004 (the “Rights
Agreement”), by and between Epicor Software Corporation, a Delaware corporation (the “Company”), and Mellon Investor Services LLC, a New Jersey limited liability company, as Rights Agent (the
“Rights Agent”); 
 WHEREAS, on February 24, 2009, the board of directors of the Company determined it is in the
best interests of the Company and its stockholders to amend the Rights Agreement on the terms set forth herein; 
 WHEREAS, in accordance
with Section 27 of the Rights Agreement, prior to the occurrence of a Distribution Date, the Company may supplement or amend the Rights Agreement in any respect without the approval of any holders of Rights, and the Rights Agent shall, if the
Company so directs, execute such supplement or amendment; and 
 WHEREAS, the Rights Agent is hereby directed to join in the amendment to the
Rights Agreement as set forth herein. 
 NOW, THEREFORE, in consideration of the promises and the mutual agreements herein set forth, the
parties hereby agree as follows: 
 1. Amendment of the Rights Agreement. 
 (a) Section 1(a) of the Rights Agreement is hereby amended by inserting the following sentence immediately after the last sentence in the
definition of “Acquiring Person”: 
 “Notwithstanding anything in this Section 1(a) or otherwise in this Agreement to the
contrary, the Elliott Group, as defined on Annex I hereto (the “Exempted Group”), shall not be deemed to be an “Acquiring Person” for purposes of this Rights Agreement by virtue of or as a result of the acquisition by the Elliott
Group of up to a maximum of 14.99% of the outstanding Common Shares and $100 million aggregate principal amount of the Company’s Convertible Senior Notes due 2027 (the “Notes”) (the “Exempted Transaction;” it being
understood that the actual issuance of Common Shares upon conversion or settlement of the Notes (x) pursuant to an election made by Epicor shall be deemed to constitute an Exempted Transaction and (y) pursuant to an election made by any
member of the Elliott Group shall not be deemed to constitute an Exempted Transaction); provided, however, that if, excluding any Notes acquired in an Exempted Transaction, the Exempted Group (or any member thereof) would be an Acquiring Person
(unless it is directly as a result of a repurchase, redemption or other acquisition of any Common Shares by the Company), then the Exempted Group shall be deemed an Acquiring Person hereunder by virtue of the Exempted Group’s (or any member
thereof) acquisition of Beneficial Ownership of any additional Common Shares.” 

 (b) Section 1(d) of the Rights Agreement is hereby amended by inserting the following sentence
immediately after the last sentence in the definition of “Beneficial Owner” and “beneficially own”: 
 “Notwithstanding anything in this Section 1(d) or otherwise in this Agreement to the contrary, the Exempted Group shall not be deemed to be a “Beneficial Owner” of or to “Beneficially Own” any securities
beneficially owned by virtue of or as a result of the Exempted Transaction.” 
 (c) Section 1(gg) of the Rights Agreement is hereby
amended by inserting the following sentence immediately after the last sentence in the definition of “Shares Acquisition Date”: 
 “Notwithstanding anything in this Section 1(gg) or otherwise in this Agreement to the contrary, a Shares Acquisition Date shall not be deemed to have occurred by virtue of or as a result of the Exempted Transaction.”

 2. No Other Amendment; Effect of Amendment. Except as and to the extent expressly modified by this Amendment, the Rights Agreement
and the exhibits thereto shall remain in full force and effect in all respects without any modification. By executing this Amendment below, the Company certifies that this Amendment has been executed and delivered in compliance with the terms of
Section 27 of the Rights Agreement. This Amendment shall be deemed an amendment to the Rights Agreement and shall become effective upon execution by the Company and the Rights Agent. In the event of a conflict or inconsistency between this
Amendment and the Rights Agreement and the exhibits thereto, the provisions of this Amendment shall govern. 
 3. Counterparts. This
Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 
 4. Severability. If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction or other authority
to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment shall remain in full force and effect and shall in no way be affected, impaired or invalidated. 
 5. Miscellaneous. This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be
governed by and construed in accordance with the laws of such State applicable to contracts to be made and performed entirely within such State. 
 [Signature Page to Follow] 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the day and
year first above written. 
  

									
	“COMPANY”	 		 	EPICOR SOFTWARE CORPORATION
					
		 		 		 	By:	 	/s/ John D. Ireland
		 		 		 	Name:	 	John D. Ireland
		 		 		 	Title:	 	Sr. Vice President & General Counsel
			
	“RIGHTS AGENT”	 		 	MELLON INVESTOR SERVICES LLC
					
		 		 		 	By:	 	/s/ Mark Cano
		 		 		 	Name:	 	Mark Cano
		 		 		 	Title:	 	Relationship Manager

 ANNEX I 
 The Elliott Group includes the following entities and their respective affiliates: 
 Elliott Associates,
L.P. 
 Elliott International, L.P. 
 Elliott International Capital Advisors Inc.

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