Document:

Exhibit 10.3

 

RESTRICTIVE COVENANT
AGREEMENT

 

This
Restrictive Covenant Agreement (this “Agreement”) is made and entered
into as of [DATE], by and between Information Services Group, Inc. (“ISG”)
and [NAME] (the “Restricted Person”).

 

RECITALS:

 

WHEREAS, the Restricted Person acknowledges
that ISG and its Affiliates (as defined below) (collectively, the “Company”)
is engaged in a continuous program of research, design, development,
production, marketing and servicing with respect to its businesses and the services
it provides to its clients; and

 

WHEREAS, the Restricted Person further
acknowledges that: (i) the protections set forth in this Agreement
constitute an essential premise of the willingness of ISG to grant the
Restricted Person shares of common stock of ISG (the “Equity Awards”),
and (ii) it is essential to the success of the Company that the Restricted
Person enter into the protections set forth herein and the holders of common
stock of ISG and the business of the Company would suffer significant and
irreparable harm by the Restricted Person competing with the business of the
Company for a period of time after any termination of employment of the
Restricted Person; and

 

WHEREAS, the Restricted Person agrees that
the restrictions set forth herein are reasonable and necessary in order to
protect the goodwill, confidential information and other legitimate business
interests of the Company and its Affiliates.

 

NOW, THEREFORE, in consideration of all of
the foregoing, and the mutual terms, covenants, agreements and conditions
hereinafter set forth, the Company and the Restricted Person hereby agree as
follows:

 

1.                                       Definitions.  The following terms shall have the following
meanings:

 

“Affiliate”
means (a) each Person directly or indirectly controlling, controlled by or
under direct or indirect common control with ISG, and (b) each other
Person of which the Company is a direct or indirect beneficial holder of at
least 10% of any class of the Equity Interests; provided, that, for purposes of Sections 4 and 5
and the definition of “Competition” herein only, the definition of “Affiliate”
shall, at any date of determination thereof, include only such Affiliates that
also: (i) conduct, operate, carry out, engage in or are involved in, (ii) have
conducted, operated, carried out, engaged in or been involved in at any time
during the 24 months prior to such date of determination, or (iii) are, or
at any time during the 12 months prior to such date of determination have been,
actively considering becoming involved in a practice area, line of business or
other business endeavor that is substantially similar to any practice area,
line of business or other business endeavor of the Company.

 

“Cause” shall mean “Cause”
as such term may be defined in any employment agreement or other severance
agreement in effect at the time of termination of employment between the
Participant and ISG or any of its subsidiaries, or, if there is no such
employment or severance agreement, “Cause” shall mean, with respect to a
Participant: (a) willful and continued failure to perform his or her
material duties with respect to ISG or its subsidiaries which continues beyond
ten business days after a written demand for substantial performance is
delivered to the Participant by ISG or any of its subsidiaries; (b) any
act involving fraud or material dishonesty in connection with the business of
ISG or its subsidiaries; (c) a material violation of the Company’s code of
conduct or other policy; (d) assault or other unlawful act of violence; or
(e) conviction of, or a plea of nolo
contendere to, any felony whatsoever or any misdemeanor that would
preclude employment under the Company’s hiring policy.

 

 

“Competition” shall mean when a Person
(including, without limitation, the Restricted Person) engages (alone or in
concert with any other Person) in, or provides assistance to any Person or
entity that engages in, any of the following activities:

 

(i)                                     conducts, operates, carries out or engages in the business
of advising and/or facilitating third parties with respect to the sourcing of
business processes or technology processes, functions and assets; or

 

(ii)                                  conducts, operates, carries out, engages in or is involved
in any established practice areas which ISG or any of its Affiliates conducts,
operates, carries out, engages in or is involved in during the Restricted
Period, in any geographic area in which such business may be conducted by ISG
or any of its Affiliates.

 

“Compete” and “Competitor”
shall have correlative meanings.

 

“Confidential Information” means any
and all information of the Company that is not generally known by others with
whom they Compete or do business, or with whom any of them plans to Compete or
do business and any and all information, that is not publicly known, which if
disclosed, would assist in Competition with ISG or any of its Affiliates.  Confidential Information includes without
limitation any information relating to (i) the development, research,
testing, marketing and financial activities of ISG and each of its Affiliates, (ii) the
products and services of ISG and each of its Affiliates, (iii) the costs,
sources of supply, financial performance and strategic plans of ISG and each of
its Affiliates, (iv) the identity and special needs of the customers and
clients of ISG and each of its Affiliates, and (v) the people and
organizations with whom ISG and each of its Affiliates have business
relationships and any non-public details of those relationships. Confidential
Information also includes any information that the Company or any of its
Affiliates have received, or may receive hereafter, belonging to customers or
clients or others with any understanding, express or implied, that the
information would not be disclosed. Notwithstanding the foregoing, Confidential
Information does not include any information generally available to, or known
by, the public (other than as a result of disclosure in violation of this
Agreement or any other non-disclosure obligation).

 

“Contractual Obligation” means, with
respect to any Person, any contract, deed, mortgage, lease, license, commitment
or other agreement or understanding, whether written or oral, or other document
or instrument to which or by which such Person is a party or otherwise subject
to bound or to which or by which any property or right of such Person is
subject or bound.

 

“Equity Interests” means (a) any
capital stock share partnership or membership interest, unit of participation
or other similar interest (however designated) in any Person and (b) any
option, warrant, purchase right, conversion right, exchange rights or other
Contractual Obligation which would entitle any Person to acquire any such
interest in such Person or otherwise entitle any Person to share in the equity,
profit, earnings, losses or gains of such Person (including stock appreciation,
phantom stock, profit participation or other similar rights.

 

“Governmental Order” means any order,
writ judgment, injunction, decree, stipulation, ruling, determination or award
entered by or with any Governmental Authority.

 

“Governmental Authority” means any
United States federal, state or local or any foreign government or political
subdivision thereof, or any authority, agency or commission entitled to
exercise any administrative, executive, judicial, legislative, regulatory or
taxing authority or power of any court or tribunal (or any department, bureau
or division thereof), or any arbitrator or arbitral body.

 

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“Legal Requirement” means any United
States federal, state or local or foreign law, statute, standard, ordinance,
code, rule, or regulation, or any Governmental Order or any similar provision
having the force or effect of law.

 

“Person” shall mean any “person” or “group”
within the meaning of Section 13(d) or 14(d) of the Securities
Exchange Act of 1934, as amended.

 

“Restricted Period” shall mean the
period beginning on the date hereof and ending on the second  anniversary of any termination of employment of the
Restricted Person.

 

2.                                       Protection of Confidential Information.

 

(a)                                  The Restricted Person acknowledges that the success of ISG
and each of its Affiliates depends on the continued preservation of
Confidential Information possessed by the Restricted Person.

 

(b)                                 The Restricted Person hereby agrees that he or she will not
at any time on or after the date of this Agreement, directly or indirectly,
without the prior written consent of the Company or its Affiliates, as
applicable, disclose or use, any Confidential Information involving or relating
to ISG or any of its Affiliates or their respective businesses, except as may
be reasonably required in the performance of his or her duties and
responsibilities, of ISG and each of its Affiliates (as applicable).

 

(c)                                  Notwithstanding the foregoing, the provisions of this Section 3
will not prohibit the Restricted Person’s retention of copies of personal
records relating specifically to his or her employment with ISG or any of its
Affiliates (applicable), including information regarding his or her
compensation and benefits, nor shall the foregoing prohibit disclosure (i) pursuant
to any applicable Legal Requirement so long as reasonable prior notice is given
of such disclosure and a reasonable opportunity is afforded to ISG or its
Affiliates, as applicable, to contest the same, or (ii) made in connection
with the enforcement of any right or remedy relating to this Agreement.

 

3.                                       Non-Interference with Business Relationships.

 

(a)                                  During the Restricted Period, the Restricted Person will not
directly or indirectly, as a director, equity holder, officer, employee,
employer, principal, agent, manager, consultant, independent contractor,
advisor or otherwise:

 

(i)                                     make any
statements or perform any acts intended to interfere with or harm, or which the
Restricted Person should reasonably expect would interfere with or harm, any
interest of ISG or any of its Affiliates in their relationships and dealings
with existing or potential customers or clients;

 

(ii)                                  make any
statements, or do any acts, intended to cause, or which the Restricted Person should
reasonably expect would cause, or which in fact cause, any customer or client
of ISG or any of its Affiliates to make use of the services of any business or
Person in which the Restricted Person has or expects to acquire any interest
(whether as a director, equity 

 

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holder,
officer, employee, employer, principal, agent, manager, consultant, independent
contractor, advisor or otherwise), is or expects to become an employee, officer
or director, or has received or expects to receive any remuneration (whether as
a director, equity holder, officer, employee, employer, principal agent,
manager consultant, independent contractor, advisor or otherwise), if such
statements or acts would result or would be reasonably likely to result in such
customer or client ceasing to do business, or diminishing its business
relationship, with ISG or any of its Affiliates; or

 

(iii)                               engage, alone
or in concert with any Person, in Competition with, or own any interest in,
perform any services for, participate in or be connected with any business,
organization or other Person which engages in Competition with ISG or any of
its Affiliates in any geographic area in which any business was or is carried
on by ISG or any of its Affiliates (A) as of the date of this Agreement or
(B) during the Restricted Period; provided, however, that the provisions
of this Section 4(a)(iii) shall not be deemed to prohibit the
Restricted Person’s ownership of not more than five percent (5%) of the total
shares of all classes of stock outstanding of any publicly held company in
which the Restricted Person has no participation in the management or direction
(other than as a passive shareholder).

 

(b)                                 In the event that the Restricted Person engages in activities
that would not violate Section 4 at the time such activities are
commenced, but subsequent to the Restricted Person’s commencement of such
activities and during the Restricted Period, ISG or any of its Affiliates
become engaged in these activities (provided that such activities were either (x) commenced
by ISG or any of its Affiliates at any time during the term of the Restricted
Person’s employment by ISG or any of its Affiliates or (y) under active
consideration by ISG or any of its Affiliates at any time during the term of
the Restricted Person’s employment) will immediately cease with activities at
the request of the Company, except to the extent necessary to fulfill existing
contractual obligations to a customer or client.

 

4.                                       Non-Solicitation.
 During the Restricted Period, the
Restricted Person will not directly or indirectly, as a director, equity
holder, officer, employee, employer, principal, agent, manager, consultant,
independent contractor, advisor or otherwise:

 

(a)                                  employ or solicit for employment, or advise or recommend to
any other Person that they employ or solicit employment, or otherwise
materially assist any other Person in employing or soliciting for employment,
any employee of ISG or any of its Affiliates; or

 

(b)                                 solicit or encourage any employee of ISG or any of its
Affiliates to leave the employ of the Company or any of its Affiliates or to do
any act that is disloyal to ISG or any of its Affiliates, is inconsistent with
the interests of ISG or any of its Affiliates or violates of any provision of
this Agreement or any Contractual Obligation such employee has with ISG or any
of its Affiliates of which the Restricted Person has knowledge.

 

For
purposes of this Section 5, an individual will be considered to be
an employee of ISG or any of its Affiliates if he or she is employed by or
providing services to (including as a contractor or consultant), or was at any
time within six (6) months prior to the conduct that is prohibited by this
Section 5 employed by or provided services to, ISG or any of its
Affiliates.

 

5.                                       Reasonableness of Restrictions.

 

(a)                                  The Restricted
Person acknowledges that his or her experience, capabilities and 

 

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circumstances are such that the
restrictions contained in this Agreement will not prevent him or her from
earning a livelihood.  The Restricted
Person acknowledges that he or she has carefully read and considered all the
terms and conditions of this Agreement and agrees that they are necessary for
the reasonable and proper protection of the Company.  The Restricted Person further agrees that the
restrictions referred to in this Agreement are reasonable in duration,
geographic area and scope and subject matter and are properly required for the
adequate protection of the businesses of ISG and each of its Affiliates.

 

(b)                                 The execution of this Agreement by the Restricted Person and
the performance by the Restricted Person of the obligations hereunder will not
breach or be in conflict with any other Contractual Obligation to which the
Restricted Persons is a party or is bound. 
The Restricted Person is not now subject to any covenant against
competition or similar covenants or any Governmental Order or Legal Requirement
that would affect such Restricted Person’s performance of the obligations of
this Agreement.

 

6.                                       Enforcement.  The Restricted Person hereby acknowledges and
agrees that in the event of any violation of the terms of Sections 3, 4 or 5,
the Restricted Person shall immediately surrender and forfeit all Equity
Awards; provided, that in the event the Restricted Person has transferred all
or any portion of shares of common stock of ISG received under such Equity
Awards, the Restricted Person shall be required to pay to the Company an amount
equal to the proceeds received in respect of such transfer of shares, on a net
after-tax basis.  The Restricted Person
further acknowledges that if the Restricted Person were to breach any of the
terms and conditions of this Agreement the damage to the Company would be irreparable.  The Restricted Person therefore agrees that
the Company shall, in addition to any other remedies available to each of them,
be entitled to preliminary and permanent injunctive relief against any breach or
threatened breach by the Restricted Person of any of the terms and conditions
of this Agreement, without having to post a bond.

 

7.                                       Notices.

 

(a)                                  Until ninety (90) days after the conclusion of the
Restricted Period, the Restricted Person shall give notice to the Company of
each new business activity the Restricted Person plans to undertake (each such
notice, a “New Business Activity Notice”, other than such activities
that are undertaken for or on behalf of ISG or any of its Affiliates, at least
twenty (20) days prior to beginning any such activity, provided, however, that
the Restricted Person will not be obligated to provide information to the
Company that would place the Restricted Person in violation of other
confidentiality agreements to which the Restricted Person is a party as long as
each such confidentiality agreement was entered into for legitimate business
purposes not related to the existence of this Agreement and the obligations of
the Restricted Person hereunder. Such notice shall state the name and address
of the Person for whom such activity is to be undertaken and the nature of the
Restricted Person’s business relationship(s) and position(s) with
such Person.

 

(b)                                 The Restricted Person shall, from time to time, provide the
Company with such other pertinent information concerning his or her business
activities as the Company may reasonably request in order to determine his
other continued compliance with the terms and conditions of this Agreement;
provided, however, that the Restricted Person will not be obligated to provide
information to the Company that would place the Restricted Person in violation
of other confidentiality agreements to whether the Restricted Person is a party
as long as each such confidentiality agreement was entered into for legitimate
business purposes not related to the existence of this Agreement and the
obligations of the Restricted Person hereunder.

 

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(c)                                  In the event that the Restricted Person properly delivers a
New Business Activity Notice in the manner provided hereunder and the Company
does not notify the Restricted Person of its desire for other information
regarding the new business activity described in the New Business Activity
Notice pursuant to the Company’s rights under Section 8(a) and (b) or
of its objection to such business activity in each case within fifteen (15)
days of the receipt by the Company of such New Business Activity Notice, the
Restricted Person may begin to engage in the business activity so described
from and after the expiration of such 15 day period.  Notwithstanding the foregoing, in no event
shall the expiration of such 15 day period or the engagement by the Restricted
Person in any new business activity be construed as a waiver of the rights of
ISG and/or each of its Affiliates under this Agreement or for any way limit or
diminish the obligations of the Restricted Person provided for in the other
terms and conditions of this Agreement.

 

8.                                       Further Assurances.  From and after the date of this Agreement,
upon the request of either the Restricted Person or ISG of each of its
Affiliates, each of the parties hereto will do, execute, acknowledge and
deliver all such further acts, assurances, deeds, assignments, transfers,
conveyance and other instruments and papers as may be reasonably required or
appropriate to carry out the obligations contemplated by this Agreement.

 

9.                                       Severability.

 

(a)                                  If the final judgment of a court of competent jurisdiction
declares that any term or provision of this Agreement is invalid or
unenforceable, the parties hereto agree that the court making the determination
of invalidity or unenforceability will have the power to reduce the scope,
duration, or geographic area of the term or provision, to delete specific words
or phrases, or to replace any invalid or unenforceable term or provision with a
term or provision that is valid and enforceable and that comes closest to
expressing the intention of the invalid or unenforceable term or provision, and
this Agreement will be enforceable as so modified.

 

(b)                                 The parties further agree that if any part of this Agreement
is held by a court of competent jurisdiction to be invalid, illegal or
incapable of being enforced in whole or in part by reason of any rule of
law or public policy, and cannot be modified in accordance with Section 11(a),
above, such part shall be deemed to be severed from the remainder of this
Agreement for the purpose only of the particular legal proceedings in question,
and all other covenants and provisions of this Agreement shall in every other
respect continue in full force and effect, and no covenant or provision shall
be deemed dependent upon any other covenant or provision.

 

10.                                 Miscellaneous.

 

(a)                                  Waiver.  Failure to insist upon strict compliance with
any of the terms, covenants or conditions hereof shall not be deemed a waiver
of such term, covenant or condition, nor shall any waiver or relinquishment of
any right or power hereunder at any one or more times be deemed a waiver or
relinquishment of such right or power at any other time or times.

 

(b)                                 Entire Agreement; Modifications.  This Agreement
constitutes the entire and final expression of the agreement of the parties
with respect to the subject matter hereof and supersedes all prior agreements,
oral or written, between the parties hereto with respect to the subject matter
hereof (other than any existing agreement between the Restricted 

 

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Person and ISG or any of its
subsidiaries concerning an agreement not to compete with, not to solicit employees
of, and/or not to disclosure the confidential information of, ISG and/or any of
its subsidiaries, with such agreement shall continue to be in full force and
effect in accordance with its terms). 
This Agreement may be modified or amended only by an instrument in
writing signed by both parties hereto.

 

(c)                                  Relevant Law.  This Agreement shall be construed and
enforced in accordance with the internal laws of the State of Delaware without
regard to the conflict of laws principles thereof.

 

(d)                                 Counterparts.  This Agreement may be executed in
counterparts, each of which shall be deemed an original, but both of which
together shall constitute one and the same instrument.

 

11.                                 Acknowledgements.  The Restricted Person represents and
acknowledges the following:

 

(a)                                  He/She has carefully read this Agreement in its entirety;

 

(b)                                 He/She understands the terms and conditions contained
herein;

 

(c)                                  He/She has had the opportunity to review this Agreement with
legal counsel of his/her own choosing and has not relied on any statements made
by the Company or its legal counsel as to the meaning of any term or condition
contained herein or in deciding whether to enter into this Agreement; and

 

(d)                                 He/She is entering into this Agreement knowingly and
voluntarily.

 

[REMAINDER OF PAGE INTENTIONALLY BLANK]

 

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IN WITNESS WHEREOF, the Company and the
Restricted Person have duly executed and delivered this Agreement as of the day
and year first above written.

 

	
   

  	
  INFORMATION
  SERVICES GROUP, INC.:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

Restrictive Covenant
Agreement

 

Signature Page

 

8

 

IN WITNESS WHEREOF, the Company and the
Restricted Person have duly executed and delivered this Agreement as of the day
and year first above written.

 

 

	
   

  	
  RESTRICTED
  PERSON:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

Restrictive Covenant
Agreement

 

Signature Page

 

9Exhibit 10.4

 

Execution Copy

 

SEVERANCE AGREEMENT

 

SEVERANCE AGREEMENT (the “Agreement”) dated October 5,
2009 by and between Information Services Group, Inc. (the “Company”) and
David Berger (the “Executive”).

 

The Executive is employed as the Company’s Chief
Financial Officer.

 

The Company desires to induce the Executive to
remain in its employment by providing the Executive protection in the event of
a termination of the Executive’s employment in certain circumstances, and the
Executive desires to continue to be employed by the Company and to accept such
protection.

 

In consideration of the promises and mutual
covenants contained herein and for other good and valuable consideration, the
parties agree as follows:

 

1.                                       Term.  This Agreement shall be effective for a
period commencing on the date of this Agreement and ending on December 31,
2010 (the “Term”); provided, however, that commencing with January 1,
2011 and on each anniversary thereof (each an “Extension Date”), the Term shall
automatically be extended for an additional twelve (12) month period, unless
the Company or Executive provides the other party hereto sixty (60) day’s prior
written notice before the next Extension Date that the Term shall not be so
extended.

 

2.                                       Termination of Employment.

 

a.                                       By the Company without Cause or by Executive for Good Reason.  If, during the
Term, Executive’s employment with the Company and its affiliates is terminated
by the Company without Cause or by Executive for Good Reason (as each such term
is defined in Section 3 below), subject to the Executive’s execution
without revocation of a general waiver and release of claims agreement
substantially in the form attached hereto as Exhibit A, Executive
shall be entitled to receive:

 

(i)  a cash severance payment equal to one
(1) times the Executive’s annual rate of base salary plus the Executive’s
target annual incentive bonus opportunity under the Company’s Annual Incentive
Plan, both as in effect immediately prior to such termination, payable in equal
installments, on the normal payroll dates of the Company over the twelve (12)
month period following the date of termination (the “Severance Period”); and

 

(ii)  so long as
Executive’s termination occurs after the first 180 days of the Company’s fiscal
year, the annual cash bonus that the Executive would have received under the
Company’s Annual Incentive Plan, if the Executive had remained employed by the
Company through the end of the fiscal year of the Company in which such
termination occurs (with the determination of the amount, if any, of such bonus
based on the Company’s performance in relation to the applicable performance
targets previously established by the Company for such fiscal year, as
determined in good faith by the compensation committee of the board of directors
of the Company), multiplied by the Pro-Rate Factor (as defined in Section 3
below) and paid at such time as the annual cash bonus would otherwise have been
paid to the Executive under the Company’s Annual Incentive Plan;

 

(iii)  coverage during the applicable COBRA
health care continuation coverage period under Section 4980B of the
Internal Revenue Code of 1986, as amended (the

 

 

“Code”),
or any replacement or successor provision of United States tax law to the
extent the Executive so elects;

 

(iv)  all earned and unpaid and/or vested,
nonforfeitable amounts owing or accrued at the date of Executive’s termination
of employment (including any earned but unpaid base salary and vacation) under
any compensation and benefit plans, programs, and arrangements of the Company
and its affiliates in which Executive theretofore participated, payable in
accordance with the terms and conditions of the plans, programs, and
arrangements (and agreements and documents thereunder) pursuant to which such
compensation and benefits were granted or accrued; and

 

(v) 
reimbursement for any unreimbursed business expenses properly incurred
by Executive in accordance with Company policy prior to the date of
termination, to be reimbursed in accordance with such policy.

 

b.                                      By the Company for any Reason other than Without Cause or by
Executive for any Reason other than for Good Reason.  If, during the
Term, Executive’s employment with the Company and its affiliates is terminated
by the Company for any reason (other than a termination without Cause) or by
Executive’s resignation without Good Reason, Executive shall be entitled to
receive only those benefits described in Section 2(a)(iii), (iv) and (v) above.

 

c.                                       Following Executive’s termination or resignation (as the
case may be), except as set forth in this Section 2 and Section 5
below, Executive shall have no further rights to any other compensation or
benefits under this Agreement or any other severance plan or arrangement
maintained by the Company or any of its affiliates, except as otherwise
provided under any Company stock incentive plan or award agreement entered into
by and between Executive and the Company or any of its affiliates.

 

3.                                       Definitions.
For purposes of this Agreement:

 

a.                                       “Cause” shall mean with respect to the Executive: (a) Executive’s
willful misconduct with regard to the Company; (b) any act involving fraud
or material dishonesty in connection with the business of the Company or its
affiliates; (c) a material violation of the Company’s code of conduct or
other policy; or (d) conviction of, or a plea of nolo contendere to, any felony whatsoever.

 

b.                                      “Good Reason”
shall mean without Executive’s express written consent, the occurrence of any
of the following circumstances: (i) a
reduction in Executive’s annual base salary and/or target annual incentive
opportunity under the Company’s Annual Incentive Plan (“target AIP”) (excluding
any reduction in Executive’s base salary and/or target AIP that is part of a
plan to reduce compensation of comparably situated employees of the Company
generally; (ii) a material diminution in the nature or scope of Executive’s
responsibilities, duties or authority; (iii) the relocation by the Company
of Executive’s primary place of employment with the Company to a location more
than fifty (50) miles outside of Executive’s current principal place of
employment (which shall not be deemed to occur due to a requirement that
Executive travel in connection with the performance of his or her duties); or (iv) the
Company gives notice of non-extension of the Term (which the parties agree
constitutes a material breach of the Agreement). Resignation for Good Reason
shall not occur unless the Executive provides the Company with written notice
of the existence of the conditions supporting any of the foregoing events
described in this definition within the period not to exceed 90 days of the
initial existence 

 

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of the conditions and the
Company fails to remedy such conditions within ten (10) days of receiving
such written notice.

 

c.                                       “Pro-Rate
Factor” shall mean a fraction, (i) the numerator of which is equal to
the number of days that the Executive is employed by the Company during the
fiscal year in which the Executive’s employment terminates, and (ii) the
denominator of which is the number of days in such fiscal year.

 

4.                                       Notice of Termination.  Any purported termination of employment by
the Company or by Executive (other than due to Executive’s death) shall be
communicated by written Notice of Termination to the other party hereto in
accordance with Section 6(e) hereof. 
For purposes of this Agreement, a “Notice of Termination” shall mean a
notice which shall indicate the specific termination provision in this
Agreement relied upon and the date of termination, and shall set forth in
reasonable detail the facts and circumstances claimed to provide a basis for
termination of employment under the provision so indicated.  Unless terminating for Good Reason, Executive
shall provide a Notice of Termination to the Company at least (30) days or
prior to the effective date of the Executive’s termination of employment other
than due to his death; provided, however, that the Company may
waive all or any portion of such required 30-day notice period.

 

5.                                       Section 409A.  Notwithstanding anything herein to the
contrary, if any payment of money or other benefits due to Executive hereunder
could cause the application of an accelerated or additional tax under Section 409A
of the Code, such payment or other benefits will be deferred if deferral will
make such payment or other benefits compliant under Section 409A of the
Code (for instance, if Executive is a “specified employee” within the meaning
of Section 409A of the Code and Executive receives a payment or benefit
constituting deferred compensation hereunder upon a separation from service
within the meaning of Section 409A of the Code, such payment or benefit
shall not be delivered to Executive until six months and one day following
Executive’s separation from service), or otherwise such payment or other
benefits will be restructured, to the extent possible, in a manner, determined
by the Board, that does not cause such an accelerated or additional tax; provided
that the Company agrees to maintain, to the maximum extent permitted by law,
the original intent and economic benefit to the Executive of the applicable
provision without violating the provisions of Section 409A of the Code.
This Agreement is intended to comply with Section 409A of the Code and
will be interpreted accordingly. 
References under this Agreement to Executive’s termination of employment
shall be deemed to refer to the date upon which Executive has experienced a “separation
from service” within the meaning of Section 409A of the Code.  Each payment made under this Agreement shall
be designated as a “separate payment” within the meaning of Section 409A
of the Code.  To the extent any
reimbursements or in-kind benefits due to Executive under this Agreement
constitute “deferred compensation” under Section 409A of the Code, any
such reimbursements or in-kind benefits shall be paid to Executive in a manner
consistent with Treas. Reg. Section 1.409A-3(i)(1)(iv).

 

6.                                       Miscellaneous.

 

a.                                       Governing Law.  This Agreement shall be governed by and
construed in accordance with the laws of New York, without regard to conflicts
of laws principles thereof.

 

b.                                      Entire Agreement/Amendments.  This Agreement contains the entire
understanding of the parties with respect to the subject matter contained
herein, and supersedes all prior agreements, promises, warranties, covenants or
undertakings between the parties with respect to the subject matter
herein.  This Agreement may not be
altered, modified, or amended except by written instrument signed by the
parties hereto.

 

3

 

c.                                       No Waiver; Severability.  The failure of a party to insist upon strict
adherence to any term of this Agreement on any occasion shall not be considered
a waiver of such party’s rights or deprive such party of the right thereafter
to insist upon strict adherence to that term or any other term of this
Agreement.  In the event that any one or
more of the provisions of this Agreement shall be or become invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the
remaining provisions of this Agreement shall not be affected thereby.

 

d.                                      Successor; Binding Agreement.  The Company shall assign this Agreement and
its obligations hereunder to any successor thereof.  This Agreement shall inure to the benefit of
and be enforceable by Executive and Executive’s personal or legal
representatives, executors, administrators, successors, heirs, distributees,
devisees and legatees.  If Executive
should die while any amount would still be payable to Executive hereunder had
Executive continued to live, all such amounts, unless otherwise provided
herein, shall be paid in accordance with the terms of this Agreement to
Executive’s devisee, legatee or other designee or, if there is no such
designee, to Executive’s estate.

 

e.                                       Notice.  For the purpose of this Agreement, notices
and all other communications provided for in the Agreement shall be in writing
and shall be deemed to have been duly given when delivered by hand or overnight
courier or three days after it has been mailed by United States registered
mail, return receipt requested, postage prepaid, addressed to the respective
addresses set forth below in this Agreement, or to such other address as either
party may have furnished to the other in writing in accordance herewith, except
that notice of change of address shall be effective only upon receipt.

 

If to the Company:

Information Services Group
Inc.

Two Stamford Plaza

281 Tresser Boulevard,
Stamford, CT 06901

Attention: General Counsel

 

If to Executive:

 

To the most recent address of Executive set
forth in the personnel records of the Company.

 

f.                                         Withholding Taxes.  The Company may withhold from any amounts
payable under this Agreement such Federal, state and local taxes as may be
required to be withheld pursuant to any applicable law or regulation.

 

g.                                      No Mitigation.  Executive shall not be required to mitigate
the amount of any payment provided for in this Agreement by seeking other
employment or otherwise, nor shall the amount of any payment or benefit
provided for in this Agreement be reduced by an compensation earned by
Executive as the result of employment by another employer, by retirement
benefits, by offset against any amount claimed to be owed by Executive to the
Company, or otherwise.

 

h.                                      Counterparts.  This Agreement may be signed in counterparts,
each of which shall be an original, with the same effect as if the signatures
thereto and hereto were upon the same instrument.

 

[Signatures on next page.]

 

4

 

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

 

 

	
  INFORMATION
  SERVICES GROUP

  	
  DAVID
  BERGER

  
	
   

  	
   

  
	
  By:

  	
   /s/ Earl H. Doppelt

  	
   

  	
  /s/
  David Berger

  
	
   

  	
  Title:
  Executive Vice President, General Counsel and Corporate Secretary

  	
   

  	
   

  

 

5

 

EXHIBIT
A

 

Form of
Release

 

DAVID BERGER (the “Executive”)
agrees for the Executive, the Executive’s spouse and child or children (if
any), the Executive’s heirs, beneficiaries, devisees, executors,
administrators, attorneys, personal representatives, successors and assigns,
hereby forever to release, discharge, and covenant not to sue Information
Services Group Inc. (the “Company”), the Company’s past, present, or
future parent, affiliated, related, and/or subsidiary entities, and all of
their past and present directors, shareholders, officers, general or limited
partners, employees, agents, insurers and attorneys, and agents and
representatives of such entities, in such capacities, and employee benefit
plans in which the Executive is or has been a participant by virtue of his
employment with the Company and benefit plan administrators, and the successors
of the Company or any of the foregoing entities (collectively, the “Releasees”),
from any and all claims, debts, demands, accounts, judgments, rights, causes of
action, equitable relief, damages, costs, charges, complaints, obligations,
promises, agreements, controversies, suits, expenses, compensation,
responsibility and liability of every kind and character whatsoever (including
attorneys’ fees and costs), whether in law or equity, known or unknown,
asserted or unasserted, suspected or unsuspected, which the Executive has or
may have had against the Company or the Releasees based on any events or
circumstances arising or occurring on or prior to the date this Release is
executed, arising directly or indirectly out of, relating to, or in any other
way involving in any manner whatsoever the Executive’s employment with the Company
or the termination thereof, the Executive’s status at any time as a holder of
any securities of the Company, or otherwise. 
This includes, but is not limited to, a release of any and all claims
arising under the laws of the United States, any other country, or any state,
or locality relating to employment, or securities, including, without
limitation, claims of wrongful discharge, breach of express or implied contract
(whether oral or written), fraud, misrepresentation, defamation, or liability
in tort, common law or public policy, claims of any kind that may be brought in
any court or administrative agency, any claims arising under Title VII of the
Civil Rights Act of 1964, the Age Discrimination in Employment Act, the
Americans with Disabilities Act, the Fair Labor Standards Act, the Executive
Retirement Income Security Act, the Family and Medical Leave Act, the Delaware
Discrimination in Employment Act, the Securities Act of 1933, the Securities
Exchange Act of 1934, the Sarbanes-Oxley Act, and similar statutes, ordinances,
and regulations of the United States, any other country, or any state or
locality.  This release of claims further
includes, but is not limited to, Executive’s waiver of any right or claim to
compensation, wages, back pay, reinstatement or re-employment, bonuses, or
benefits of any kind or any nature arising or derivative from Executive’s
employment with the Company, the termination thereof, or otherwise; provided,
however, notwithstanding anything to the contrary set forth herein, that
this general release shall not extend to (x) amounts owed to or rights
available for the Executive under that certain Severance Agreement dated October 5,
2009, by and between the Company and the Executive (the “Severance Agreement”)
and (y) benefit claims under employee pension benefit plans in which the
Executive is a participant by virtue of his employment with the Company or
benefit claims under employee welfare benefit plans for covered occurrences
(e.g., medical care, death, or onset of disability) arising after the execution
of this Release by the Executive.  This
Release does not waive any rights to indemnification the Executive has under
any insurance policy, by laws or other documents or agreements to which
Executive may be entitled for actions taken in good faith during the term of
his employment.

 

The Executive hereby
represents and warrants to the Company and the Releasees that he has not filed
any action, complaint, charge, grievance, arbitration or similar proceeding
against the Company or the other Releasees.

 

The Executive understands
that this Release includes a release of claims arising under the Age
Discrimination in Employment Act (ADEA). 
The Executive understands and warrants that he has been given a period
of 21 days to review and consider this Release. 
The Executive further acknowledges that the consideration given for this
Release is in addition to anything of value to which he is already

 

 

entitled.  The
Executive is hereby advised to consult with an attorney prior to executing the
Release.  By his signature below, the
Executive warrants that he has had the opportunity to do so and to be fully and
fairly advised by that legal counsel as to the terms of this Release and that
this waiver and release is knowing and voluntary.  The Executive further warrants that he
understands that he may use as much or all of his 21-day period as he wishes
before signing, and warrants that he has done so.

 

The
Executive further warrants that he understands that he has seven days after
signing this Release to revoke the Release by notice in writing to the Company’s
General Counsel delivered by hand, certified mail or courier service.  This Release shall be binding, effective, and
enforceable upon both parties upon the expiration of this seven-day revocation
period without the Company’s General Counsel having received such revocation,
but if the Executive revokes the Release during such time, the Executive
understands that the Executive will forfeit any rights he may have to any
severance payments and benefits otherwise due under Section 2(a) of
the Severance Agreement.

 

By
signing this Release, the Executive acknowledges that:  he has relied entirely upon his  own judgment, and that he has had the
opportunity to consult with legal, financial and other personal advisors of his
own choosing in assessing whether to execute this Release; no representation,
statement, promise, inducement, threat or suggestion has been made by the
Company or any other Releasee to influence Executive to sign this Release except
such statements as are expressly set forth herein; Executive understands that
by signing this Agreement he is releasing the Company and the Releasees of all
claims against them; Executive has read this Release and understands its terms;
Executive has been given a reasonable period of time to consider its terms and
effect; and Executive voluntarily agree to the terms of this Release.

 

 

Executed
this        day of
                                  ,
20

 

	
   

  	
   

  

David
Berger

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