Document:

exv10w5

Exhibit 10.5

SEVERANCE AGREEMENT

     THIS SEVERANCE AGREEMENT (the “Agreement”), dated and effective as of May 4, 2011, is by and
between Carbonite, Inc., a Delaware corporation (the “Company”), and Jeffry Flowers (the
“Employee”).

     WHEREAS, the Employee currently serves as the Company’s Chief Architect; and

     WHEREAS, the Company and the Employee desire to set forth certain terms and conditions should
the Employee’s employment relationship with the Company terminate.

     NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for
other good and valuable consideration, the receipt and sufficiency of which consideration are
hereby acknowledged, the parties agree as follows:

     1. Severance.

          1.1 Termination. The Employee’s employment relationship with the Company shall
terminate automatically and immediately upon the Employee’s resignation (for any reason),
Disability, death or upon notice by the Company to the Employee of termination of employment (for
any reason). The date the employment relationship terminates is referred to as the “Termination
Date”. Upon the Termination Date, the Employee shall receive all earned but unpaid base salary and
benefits through the Termination Date. On or promptly after the Termination Date, the Employee
will return to the Company any property owned by the Company, including, but not limited to,
papers, files, documents, reference guides, equipment, keys, access cards, identification cards,
credit cards, computers, calculators, fax machines, printers, software, computer access
codes/passwords, electronic storage and memory devices and instructional manuals, or other property
prepared by or for, or belonging to the Company, which is then in the Employee’s possession or
control.

          1.2 Severance. If (a) the Employee’s employment is terminated by the Company without
Cause or by the Employee for Good Reason or (b) the Employee is not offered continuing employment
on substantially the same terms as set forth herein in connection with a Change of Control, then,
in either case, the Company shall pay to the Employee, as severance, an aggregate amount equal to:
(i) his then current base salary during the twelve-month period commencing on the effective date of
the termination of Employee’s employment relationship with the Company (the “Severance Period”) and
(ii) an amount equal to twelve times the monthly amount that the Company paid for the Employee’s
participation in the Company’s health insurance plan during the month immediately preceding the
Termination Date. All of the foregoing amounts shall be payable pro rata over the Severance Period
in accordance with the Company’s normal payroll practices. Additionally, any bonus amounts earned
as of the end of a fiscal year but not paid as of the Termination Date shall be paid to the
Employee in a manner consistent with payment of such bonus amounts to the Company’s other senior
management employees notwithstanding the subsequent termination of the Employment Period. All
benefits, including health insurance benefits, offered by the Company shall cease as of the
Termination

 

 

Date and the Employee may elect to continue his participation in the Company’s health insurance
benefits at the Employee’s expense pursuant to COBRA by notifying the Company in the time specified
in the COBRA notice to be delivered by the Company to the Employee as of the Termination Date and
by the Employee paying the monthly premium himself. Notwithstanding the foregoing, the Company
shall not make any payments pursuant to this Section 1.2 to the Employee unless and until (x) the
Employee executes and delivers to the Company a general release in substantially the form of
Exhibit A attached hereto (the “Release”), (y) such Release is executed and delivered to
the Company within twenty-one (21) days after the Termination Date and (z) all time periods for
revoking such Release have lapsed (the “Release Period”). Once the executed Release is delivered
to the Company, if any payments pursuant to this Section 1.2 had been deferred pending the receipt
of such Release, the first payment following such delivery shall be in an amount equal to the total
amount to which the Employee would otherwise have been entitled to during the period following the
date of termination if such deferral had not occurred; provided, however, that in the event that
the Release Period begins in one calendar year but ends in a subsequent calendar year, then the
first payment hereunder shall in no event be made prior to the first day of the subsequent calendar
year.

          1.3 Code Section 409A. If the Employee is a “specified employee” within the meaning
of Section 409A of the Internal Revenue Code of 1986 (as amended the “Code”), then any amounts
payable to the Employee under this Section 4 during the first six months and one day following the
date of termination that constitute nonqualified deferred compensation within the meaning of
Section 409A of the Code (as determined by the Company in its sole discretion) shall not be paid
until the date that is six months and one day following such termination to the extent necessary to
avoid adverse tax consequences under Section 409A of the Code, and, if such payments are required
to be so deferred, the first payment shall be in an amount equal to the total amount to which the
Employee would otherwise have been entitled to during the period following the date of termination
if such deferral had not been required. Furthermore, this Agreement is intended to comply with
Section 409A of the Code (or any regulations or rulings thereunder), and shall be construed and
interpreted in accordance with such intent. Notwithstanding anything to the contrary in this
Agreement, the Company, in the exercise of its sole discretion and without the consent of the
Employee, may amend or modify this Agreement in any manner in order to meet the requirements of
Section 409A of the Code as amplified by any Internal Revenue Service or U.S. Treasury Department
guidance. Any provision of this Agreement that would cause the payment of any benefit to fail to
satisfy Section 409A of the Code shall have no force and effect until amended to comply with
Section 409A of the Code (which amendment shall be retroactive to the extent permitted by the Code
or any regulations or rulings thereunder). Specifically but without limiting the foregoing, payment
under Section 1.2 shall be made only in the event that the termination of employment constitutes a
“separation from service” within the meaning of Section 409A(a)(2)(A)(i) of the Code and in the
event that the Company determines that a “separation from service” has not occurred, any payment
due hereunder shall be deferred until such time as a “separation from service” has occurred.

          1.4 No Other Benefits. Except as otherwise expressly provided herein, the Employee
shall not be entitled to any other salary, bonuses, employee benefits or compensation from the
Company after the termination of the Employment Period and all of the Employee’s

 

 

rights to salary, bonuses, employee benefits and other compensation hereunder which would have
accrued or become payable after the Termination Date shall cease and be forfeited upon such
termination or expiration of the Employment Period, other than those expressly required under
applicable law (such as COBRA).

          1.5 Right of Offset. The Company may offset any bona fide obligations that the
Employee owes the Company against any amounts the Company owes the Employee hereunder;
provided that, notwithstanding the foregoing or any other provision of this
Agreement to the contrary, in no event shall any payment under this Agreement that constitutes
“deferred compensation” for purposes of Section 409A of the Code be subject to offset, counterclaim
or recoupment by any other amount unless otherwise permitted by Section 409A of the Code.

          1.6 Definitions. The following definitions shall apply with respect to this Section 1:

               A. Cause. “Cause” shall mean (a) willful misconduct in connection with the Employee’s
employment with the Company or his willful failure to perform his responsibilities in the best
interest of the Company, as determined by the Board, (b) conviction of, or a pleading of guilty or
nolo contendre to, a felony other than an act involving a traffic related infraction, (c) any act
of fraud, theft, embezzlement or other material dishonesty by the Employee which harmed the
Company, or (d) intentional violation of a federal or state law or regulation applicable to the
Company’s business which was or is reasonably likely to be injurious to the Company, or (e)
repeated failure by the Employee to perform his duties and obligations of his position with the
Company which failure is not cured within 30 days after notice of such failure from the Board to
the Employee.

               B. Disability. “Disability” shall mean any physical or mental injury, illness or
incapacity which results in the Employee being unable to effectively perform the essential
functions of his duties for a continuous period of more than 90 days or 120 days (whether or not
continuous) in any 180 day period, as determined by an independent, legally qualified medical
doctor selected by the Company’s health or disability insurer.

               C. Good Reason. For purposes of this Agreement, “Good Reason” shall mean (a) a
material reduction in annual base salary or job responsibility for the Employee without his consent
or (b) the relocation of the Employee’s principal office location to a facility or location that is
more than 50 miles away from Boston without the Employee’s consent.

     2. Confidentiality and Non-Compete

          The Employee acknowledges and agrees that he remains bound by and subject to the terms and
conditions set forth in that certain (a) Confidentiality Agreement by and between the Company and
the Employee dated December 8, 2005 and (b) Non-Competition Agreement by and between the Company
and the Employee dated December 8, 2005.

 

 

     3. Notices

          All notices under this Agreement must be in writing and shall be addressed as follows:

	 	 	 

	If to the Company:

	 	Carbonite, Inc.

177 Huntington Avenue, 15th floor

Boston, MA 02116

Attention: General Counsel
	 
	 	 
	with a copy to:

	 	Susan E. Pravda, Esq.

Foley & Lardner LLP

111 Huntington Avenue

Boston, MA 02199
	 
	 	 
	If to the Employee:

	 	To the address set forth below the signature of the
Employee;

Any notice, request or demand, document, consent or other communication to be given, sent or
furnished by any party to any other party shall be in writing and personally delivered or sent by
regular U.S. certified mail, U.S. Express Mail, telecopy or Federal Express (or similar type of
overnight delivery). Notice shall be deemed received when (i) hand delivered; (ii) after receipt
of confirmation or answer back if sent by telecopy; (iii) three business days after deposited in
the U.S. mails, postage prepaid, for certified mail; or (iv) one business day after deposited in a
United States Post Office box for Express Mail, postage prepaid, or delivered to Federal Express
(or similar type of overnight delivery), properly addressed to the applicable party; in all cases
notices should be given at the addresses stated above, or to such other addresses as a party may
from time to time designate to the other in accordance with this Section 3.

     4. Miscellaneous

          4.1 Modification. This Agreement constitutes the entire Agreement between the parties
with regard to the subject matter hereof, superseding all prior understandings and agreements,
whether written or oral. This Agreement may not be amended or revised except by a writing signed
by the parties.

          4.2 Successors and Assigns. This Agreement and the exhibits attached hereto are each
binding upon and inure to the benefit of both parties and their respective successors and assigns,
including any corporation with which or into which the Company may be merged or which may succeed
to its assets or business, although the obligations of the Employee are personal and may be
performed only by him.

          4.3 Governing Law. This Agreement is to be construed under and governed by the laws
of the Commonwealth of Massachusetts.

 

 

     IN WITNESS WHEREOF, the parties have executed this Severance Agreement as of the date and year
first above written.

	 	 	 	 	 
	 	CARBONITE, INC.

 	 
	 	By:  	/s/ David Friend	 
	 	 	Name:  	David Friend 	 
	 	 	Title:  	Chief Executive Officer 	 
	 
	 	EMPLOYEE:

 	 
	 	/s/ Jeffry Flowers 	 
	 	Jeffry Flowers 	 
	 	
Address: 	 
	 	
391 Ocean Ave.

Marblehead, MA 01945 	 

 

 

	 	 	 	 	 

WAIVER OF CLAIMS AND GENERAL RELEASE

     This Waiver of Claims and General Release (the “Release”) is to confirm that Jeffry Flowers’
at-will employment with Carbonite, Inc. (the “Company”) is terminated effective as of_______, 201_
(the “Termination Date”). Effective as of the Termination Date, by execution of this Release,
Jeffry Flowers (“you”) hereby resign from all offices you hold with the Company and any of its
subsidiaries.

     Please read this Release carefully. To help you understand the Release and your rights as a
terminated employee, consult with your attorney.

     Consistent with the provisions of that certain Severance Agreement by and between you and the
Company dated as of ________, 2011 (the “Severance Agreement”), the Company will provide you with
severance pay pursuant to the terms of the Severance Agreement. In consideration for the severance
payments and other good and valuable consideration set forth in the Severance Agreement, you hereby
agree as follows:

1. Release. You hereby release and forever discharge the Company and each of its past and
present officers, directors, employees, agents, advisors, consultants, successors and assigns from
any and all claims and liabilities of any nature by you including, but not limited to, all actions,
causes of actions, suits, debts, sums of money, attorneys’ fees, costs, accounts, covenants,
controversies, agreements, promises, damages, claims, grievances, arbitrations, and demands
whatsoever, known or unknown, at law or in equity, by contract (express or implied), tort, pursuant
to statute, or otherwise, that you now have, ever have had or will ever have based on, by reason
of, or arising out of, any event, occurrence, action, inaction, transition or thing of any kind or
nature occurring prior to or on the effective date of this Release. Without limiting the
generality of the above, you specifically release and discharge any and all claims and causes of
action arising, directly or indirectly, from your employment at the Company, arising under the
Employee Retirement Income Security Act of 1974 (except as to claims pertaining to vested benefits
under employee benefit plan(s) of the Company), Title VII of the Civil Rights Act of 1964, the Age
Discrimination in Employment Act of 1967, the Equal Pay Act, the Rehabilitation Act, the Americans
With Disabilities Act, Chapter 151B of the Massachusetts General Laws, Chapter 149 of the
Massachusetts General Laws, the Massachusetts Civil Rights Act and the Massachusetts Equal Rights
Laws and all applicable amendments, or any other law, statute, ordinance, rule, regulation,
decision or order pertaining to employment or pertaining to discrimination on the basis of age,
alienage, race, color, creed, gender, national origin, religion, physical or mental disability,
marital status, citizenship, sexual orientation or non-work activities. Payment of any amounts and
the provision of any benefits provided for in this Release do not signify any admission of
wrongdoing by the Company or any of its affiliates.

     The foregoing shall not restrict you from instituting any proceeding to enforce the Company’s
obligations to you under this Release or to challenge the validity, or the knowing and voluntary
nature, of this Release.

2. Older Workers Benefit Protection Act. Pursuant to the Older Workers Benefit Protection
Act, the Company hereby advises you that you should consult an attorney before signing this
Release, that you are entitled to take up to twenty-one (21) days from the date of your receipt of
this Release to consider it and that you may have seven (7) days from the date you sign this
Release to revoke it. The revocation must be personally delivered to the Company’s Human Resource
Manager or his/her designee, or mailed to them via certified mail, return receipt requested and
postmarked within seven (7) calendar days of your execution of this Release. This Release shall
not become effective or enforceable until the revocation period has expired. Nothing herein is
intended to, or shall, preclude you from filing a charge with any appropriate federal, state, or
local government agency and/or cooperating with said agency in any

 

 

investigation. You, however, explicitly waive any right to file a personal lawsuit and/or receive
monetary damages that the agency may recover against each of the parties released in Paragraph 1
above, without regard as to who brought any said complaint or charge.

3. Confidentiality of this Release. You agree that you shall keep the terms of this
Release strictly confidential and not disclose, directly or indirectly, any information concerning
them to any third party, with the exception of your spouse (if you have a spouse), financial or
legal advisors, provided that they agree to keep such information confidential as set forth herein
and not disclose it to others, and except as may be required by court order or legal process.

4. Breach. You agree that all of the payments and benefits provided for in the Severance
Agreement are subject to termination, reduction or cancellation in the event of your material
breach of this Release.

5. Enforcement. The parties agree that any legal proceeding brought to enforce the
provisions of this Release may be brought only in the courts of the Commonwealth of Massachusetts
or the federal courts located in Massachusetts and each party hereby consents to the jurisdiction
of such courts.

6. Severability. If any of the terms of this Release shall be held to be invalid and
unenforceable and cannot be rewritten or interpreted by the court to be valid, enforceable and to
meet the intent of the parties expressed herein, then the remaining terms of this Release are
severable and shall not be affected thereby.

7. Miscellaneous. This Release and the Severance Agreement constitutes the entire
agreement between the parties about or relating to your termination of employment with the Company,
or the Company’s obligations to you with respect to your termination and fully supersedes any and
all prior agreements or understandings between the parties.

8. Representations. You affirm that the only consideration for signing this Release is
described in the Severance Agreement as referenced herein and that no other promises or agreements
of any kind have been made to or with you by any person or entity whatsoever to cause you to sign
this Release, and that you fully understand the meaning and intent of this instrument. You agree
that at all times during your employment you were properly compensated for all hours you worked and
that you suffered no work related accident, illness or injury. You agree that you will not
disparage the Company in any way, nor will you make any public comments or communications which
tend to cast the Company, its owners, directors, officers or employees in a negative light.

     You acknowledge that you have carefully read this Release, voluntarily agree to all of its
terms and conditions, understand its contents and the final and binding effect of this Release, and
that you have signed the same as your own free act with the full intent of releasing the Company
from all claims you may have against it.

[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]

 

 

	 	 	 	 	 	 	 	 	 

	NAME OF EMPLOYEE	 	 	 	CARBONITE, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	Jeffry Flowers

	 	 	 	 	 	Name:	 	 
	 

	 	 	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 	 	 
	Date Signed:
	 	 	 	Date Signed:
	 	 
	   By Above Party	 	 	 	   By Above Partyexv10w6

Exhibit 10.6

April 27, 2007

Andrew P. Keenan

12 Stop River Road

Norfolk, MA 02056

Dear Andrew:

We are delighted to offer you a position at Carbonite and hope you’ll decide to join us. This
Offer and Employment Agreement confirms the terms of our offer and your employment:

	 	 	 

	Position:

	 	CFO & VP Finance & Administration
	 
	 	 
	Status:

	 	Full-time, Regular, Exempt
	 
	 	 
	Reporting to:

	 	David Friend, President & CEO
	 
	 	 
	Compensation:

	 	Base salary (annualized) of $200,000, which is $8,333.34
semi-monthly, paid in accordance with the Company’s normal
payroll procedures. You should note that Carbonite may
modify salaries and benefits from time to time as it deems
necessary, subject to the Severance Arrangement outlined in
the Employment Agreement for Termination Without Cause or
Constructive Termination.
	 
	 	 
	 

	 	All forms of compensation which are referred to in this
offer letter are subject to reduction to reflect applicable
withholding and payroll taxes.
	 
	 	 
	Bonus

	 	You will be eligible for an annual management bonus
opportunity equal to 30% of your base salary. This incentive
payment will be based upon the achievement of management
objectives to which we mutually agree and you must be
employed by the Company at the time bonuses are paid in
order to receive a bonus. The management bonus plan is
subject to the approval of the Company’s Compensation
Committee of the Board.
	 
	 	 
	Benefits

	 	Appendix A
	 
	 	 
	Stock Options

	 	Options on 27,500 shares of Carbonite common stock

 

 

	 	 	 

	 

	 	vested over four years with 25% vested at your
first year employment anniversary and,
thereafter, 6.25% each quarter for the next three
years; the exercise price of the options is
$2/sh, as voted by Carbonite’s Board of Directors
on April 11,2007. Option levels will be reviewed
after “recharging” of options pool within next 12
months.
	 
	 	 
	Change of Control

	 	In the event of a Change of Control (as defined
below), 50% of your unvested options will vest
immediately.
	 
	 	 
	 

	 	If you are terminated by the Company or the
Buyer, as applicable, without cause or resign for
Constructive Termination on or prior to the first
anniversary of a Change of Control, or are not
employed by the Company or the buyer upon a
change of control, then 100% of your options
shall vest immediately and you shall receive six
months salary and benefits as severance. Your
employment with the buyer must be on
substantially similar terms with respect to base
salary and job responsibilities and at a principal
office location within 30 miles of Boston,
Massachusetts
	 
	 	 
	 

	 	“Change of Control” shall mean the occurrence of
any of the following events: (1) the sale, lease
or other disposition of all or substantially all
of the assets of the Company or (2) an
acquisition of the Company by another corporation
or entity by consolidation, merger or other
reorganization that results in a change of
financial control of the company.
	 
	Constructive Termination

	 	Constructive Termination shall be deemed to occur
if you choose to terminate your employment within
30 days following the occurrence of one or more
of the following events (1) a material
reduction of base salary;* or (2) the relocation
of your principal office location to a facility
or location more than 30 miles from Boston; (3)
required travel is more than 40% of time in any
six month period, or more than 60% in any month
period; (4) requirement to relocate from your
current place of residence.
	 
	 	 
	Severance Arrangement

	 	During the first 12 months of employment, you
will receive three months of salary and fringe
benefits (as defined below) if you are terminated
by the Company for any reason other than “cause”
(as defined below) or if Constructive
Termination occurs;
	 
	 	 
	 

	 	After 12 months of employment, you will receive six months of salary and fringe benefits
(as defined below), if you are terminated by the
Company

 

			
	*	 	Immaterial reductions include fluctuations due to prorated pay
periods, etc. A reduction in excess
of $1,000 to annual salary would be considered material.

2

 

	 	 	 

	 

	 	for any reason other than (1) “cause” (as defined
below) or if Constructive Termination occurs; except
if your position is eliminated by the company due to
reorganization related to the adverse financial
condition of the Company. If the termination is due
to the Adverse Financial Condition of the company,
than you will receive three months salary and fringe
benefits. Adverse Financial Condition would occur if
the company is significantly underperforming and is
in danger of insolvency unless significant cost
reductions are implemented throughout the company.
	 
	 	 
	 

	 	“Fringe Benefits” — the Company will continue to make
available to you all insurance, 401(k) plan and
similar benefits in which you participated during
your employment, and will continue to make
contributions and payments on fringe benefits at the
same rates it did during your employment.
	 
	 	 
	 

	 	“Cause” shall mean (1) Willful and continued failure
to substantially perform the duties and obligations
of position with the Company; (2) Conviction of, or
plea of nolo contendere or guilty to; a felony under
the laws of the United States or any State, excluding
felonies for minor traffic violation and vicarious
liability (so long as you did not know of the felony
and did’ not willfully violate the law) (3) Proven
act of fraud, theft, embezzlement or other material
dishonesty taken by you which was intended to result
in substantial gain or personal enrichment at the
expense of the Company; (4) violation of a federal or
state law or regulation applicable to the Company’s
business which violation was or is reasonably likely
to be injurious to the Company, excluding violations
made in good faith and upon advice of the Company’s
CEO, counselor directive of the Board.
	 
	 	 
	Expected Start Date:

	 	April 27, 2007

Please bring your Social Security Card on your first day. We will make a copy of your card
and it will be kept in your employee file for payroll purposes.

Please understand that your employment with Carbonite is for no specified period and
constitutes “at-will” employment. As a result, you are free to resign at any time, for any reason
or for no reason, with or without notice. Similarly, Carbonite is free to conclude its employment
relationship with you at any time, with or without cause, and with or without notice. If however
you are terminated without cause as defined above or if constructive termination occurs, you will
receive the Severance Arrangement outlined above.

3

 

For purposes of federal immigration law, you will be required to provide to Carbonite documentary
evidence of your identity and eligibility for employment in the United States (see the enclosed
copy of Form 1-9 for a description of acceptable forms of documentary evidence). Such documentation
must be provided to Carbonite within three (3) business days of your date of hire, or our
employment relationship with you may be terminated for cause.

Like all Carbonite employees, you will be required, as a condition of your employment with
Carbonite, to sign the Company’s Non-Competition and Non-Disclosure Agreement, two copies of which
are included with this offer letter. Please sign one copy and return it with this letter, retaining
the other copy for your files.

We also ask that, if you have not already done so, you disclose to the Company any and all
agreements relating to your prior employment that may affect your eligibility to be employed by the
Company or limit the manner in which you may be employed.

You agree that, during the term of your employment with Carbonite, you will not engage in any other
employment, occupation,’ consulting or other business activity directly related to the business in
which Carbonite is now involved or becomes involved during the term of your employment, nor will
you engage in any other activities that conflict with your obligations to Carbonite.

To indicate your acceptance of this offer and employment agreement, please sign and date the
attached Acceptance and Acknowledgement. A duplicate original is enclosed for your records. This
letter, along with the Carbonite Non-Competition and Non-Disclosure Agreement, set forth the terms
of your employment with Carbonite and supersede any prior representations or agreements, whether
written or oral. This letter may not be modified or amended except by a written agreement, signed
by the President and CEO or Chief Financial Officer of Carbonite and by you.

We are excited to welcome you to the Carbonite team and look forward to a mutually beneficial
relationship.

Sincerely,

	 	 	 	 
	CARBONITE, INC.

 	 
	/s/ David Friend
 	 
	David Friend 	 
	President & CEO 	 

Enclosures

4

 

ACCEPTANCE AND ACKNOWLEDGMENT

	I accept this Offer and Employment Agreement from Carbonite as set forth in the offer letter
dated April 27, 2007. I understand and acknowledge that my employment with Carbonite is for no
particular duration and is at-will, meaning that I, or Carbonite, may terminate the employment
relationship at any time, with or without cause and with or without prior notice, subject to the
Severance Arrangement outlined in the Employment Agreement for Termination Without Cause or
Constructive Termination.

I understand and agree that the terms and conditions set forth in the offer letter represent
the entire agreement between Carbonite and me superseding all prior negotiations and agreements,
whether written or oral. I understand that the terms and conditions described in the offer letter,
along with the Carbonite Non-Competition and Non-Disclosure Agreements are the terms and conditions
of my employment. No one other than Carbonite’ President and CEO or Chief Financial Officer is
authorized to sign any employment or other agreement which modifies the terms of the offer letter
and Carbonite’ Non-Competition and Non-Disclosure Agreement, and any such modification must be in
writing and signed by either such executive. In addition, I understand that any promotion, increase
in compensation and/or offer regarding other positions must be in writing and signed by my manager
and the appropriate individual in the Human Resources Department. I understand that Carbonite may
modify salary and benefits as well as other plans and programs from time to time as it deems
necessary, subject to the Severance Arrangement outlined in the Employment Agreement for
Termination Without Cause or Constructive Termination..

Signature: /s/ Andrew Keenan

 

Printed Name: Andrew Keenan

Date:4/27/07

5

 

Appendix A

	 	 	 
	Benefits:

	 	Carbonite currently offers health insurance to all full time employees, on a cost
share basis.
	 
	 	 
	 

	 	     HMO Enhanced Value
	 

	 	     Cost per pay period
	 

	 	          Family $156.68
	 

	 	          Individual $59.74
	 
	 	 
	 

	 	     HMO Value Plus
	 

	 	     Cost per pay period
	 

	 	          Family $127.37
	 

	 	          Individual $48.50
	 
	 	 
	Vacation Days:

	 	Fifteen (15) days per year on an accrual basis of five (5) hours per pay period;
employees may only carry over up to five (5) accrued vacation days (40 hours) into
the following year, unless approved by an officer of Carbonite.
	 
	 	 
	Holidays

	 	You will be eligible for all paid holidays as offered to all employees of Carbonite.

All benefits are subject to change at the discretion of the Company.

6

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