Document:

Exhibit 10.48

 

CONSULTING SERVICES AGREEMENT

 

This
Consulting Services Agreement (“Agreement”) is made and entered into effective
as of this 1st day of August, 2004 by and between META Group, Inc., a Delaware
corporation, with principal place of business at 208 Harbor Drive, Stamford,
Connecticut 06912 (“META”), and Dale Kutnick of 23 Sherman Turnpike, Redding,
CT 06875 (“Consultant”).

 

WHEREAS
META is engaged in the business of gathering, analyzing and developing market
research and technical evaluations regarding computers and computer software,
telecommunications equipment and software, and other electronic information
processing equipment technologies, incorporating such evaluations into
publications, and providing to clients related consultations, opinions and
advisory services, and marketing subscriptions to its publications and access
to its personnel for consultation relative to the matters which are the subject
of the subscription; and

 

WHEREAS
Consultant represents that he/she possesses the background and technical
expertise to provide services to META’s Technology Research Services (TRS) as
further defined below; and

 

WHEREAS, META and the
Consultant desire to enter into an agreement whereby Consultant shall provide
consultation services as defined below.

 

NOW THEREFORE, in consideration of the mutual promises
and undertakings of the parties hereinafter set forth, it is agreed as follows:

 

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1.                                       Consultant’s
Obligations.  The responsibilities of
Consultant include, but are not limited to:

 

a)                                      public
speaking engagements;

 

b)                                     support
of prospecting on behalf of META;

 

c)                                      sales
and fulfillment activities on behalf of META;

 

d)                                     participation
by phone in research meetings and the review of research content as required or
requested by the Research Organization;

 

e)                                      additional
objectives as defined by CD Hobbs, President & COO, or the latter’s
designee.

 

Without
further compensation, the “Consultant” hereby agrees promptly to disclose to
META, all concepts, ideas, trade secrets and/or original works of authorship,
whether or not patentable, copyrightable or otherwise legally protectable (“Inventions”)
which he/she may solely or jointly develop or reduce to practice during the
period of hie/her consulting relationship with META which (i) pertain to any
line of business activity of META, (ii) are aided by the use of time, material
or facilities of META, whether or not during working hours or (iii) relate to
any of his/her work during the period of his/her consulting relationship with
META, whether or not during normal working hours (“META Inventions”).  During the term of his/her consultancy, all
META Inventions that he/she conceive, reduce to practice, develop or have
developed (in whole or in part, either alone or jointly with others) shall be
the sole property of META and its assigns to the maximum extent permitted by
law (and to the fullest extent permitted by law shall be deemed “works made for
hire”), and META and its assigns shall be the sole owner of all patents,

 

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copyrights,
trademarks, trade secrets and other rights in connection therewith.  The “Consultant” hereby assigns to META any
rights that he/she may have or acquire in such META Inventions.

 

2.             Term of Agreement.  The term of this Agreement shall be from the  1st day of August, 2004 to the 31st day of January,
2005, unless either party wishes to
terminate, at any point during said term by providing to the other party thirty
(10) days written notice of such termination.

 

3.                                       No Contrary Agreements. Consultant covenants and agrees that
he/she is fully able and available to provide his/her services, as required,
and there exists to his/her knowledge no agreement of any kind that would
prevent him/her from fulfilling the duties required under this Agreement.

 

4.                                       Compensation.  Consultant shall receive, as total compensation
for all services  rendered to META
under this Agreement, a retainer of USD $25,000. 
Consultant will be paid monthly in accordance with the submission of
approved invoices.  In addition, for any
specific, incremental META initiated consulting engagements that are fulfilled
by the Consultant, the Consultant will receive an additional 40% of the value
of those engagements above the Consultant’s retainer and META will retain 60%.

 

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5.                                       Taxes.  Consultant
shall be solely responsible for all taxes (including employment and social
taxes) due any governmental authorities on account of the performance of
his/her obligations under this Agreement. 
Consultant agrees to save and hold harmless META, its employees,
directors and officers from and against any claims by any governmental
authority relating to or arising out of such taxes.

 

6.                                       Benefits.  META will
cover 100% of Consultant’s medical, dental, and vision insurance. Consultant
will not be eligible for or receive any long-term disability insurance, holiday
or vacation pay, retirement benefits, or any other fringe benefit under
programs, including stock purchase plans, maintained by META for its employees.

 

7.                                       Expenses
and Equipment.  The cost and expense
of Consultant’s activities under this Agreement for any facilities, equipment
or insurance furnished or maintained by him/her in connection herewith, shall
be borne by Consultant, except that he/she will be reimbursed for expenses
incurred on behalf of META in accordance with META’s standard policies.  Such expenses may include maintenance and use
of telephone, office equipment and supplies reasonably needed in connection
with his/her consulting services under this Agreement.  META will provide Consultant with use of a
laptop computer, e-mail access and ID, and voicemail.

 

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8.                                       Indemnity.  Consultant shall hold harmless and indemnify
META from any and all liability, cost, damages, expenses and reasonable
attorneys’ fees resulting from or attributable to any claims arising out of the
use of any motor vehicle or any facility or equipment owned or rented by Consultant
in the course of providing services to META pursuant to this Agreement.

 

9.                                       Non-Disclosure
of Proprietary Info.  In the
performance of this Agreement, 
Consultant warrants that all technical, commercial and other information
which is furnished or disclosed by META and/or any of its clients (including
but not limited to information regarding META’s organization, personnel,
business activities, customers, subscribers, policies, assets, finances, costs,
sales, technology rights, obligations, liabilities and strategies (hereinafter “Information”),
will be regarded as confidential and/or proprietary to META and will be treated
as such by Consultant.

 

Consultant
will hold Information in confidence and not disclose or use, any such
Information, and will treat Information with the same degree of care and
confidentiality as Consultant accords its own confidential and proprietary
information; provided, however, that Consultant shall not have any such
obligation with respect to Information available to the general public, is or
becomes publicly known through no wrongful act or omission of Consultant, or is
known by Consultant without any proprietary restriction by META prior to the
time of receipt of Information from META.

 

All
Information furnished to Consultant by META, unless otherwise specified in
writing, shall remain the property of META and, at the termination of this
Agreement, shall be returned to META, together with any and all copies made
thereof and any notes

 

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made therefrom (except
for documents submitted to a governmental agency with the consent of META or
upon subpoena and which cannot be retrieved with reasonable effort).  In the case of oral or written Information
furnished to Consultant by META, which shall have been reduced to or
incorporated in writings by Consultant, any and all documents of Consultant
describing, analyzing or otherwise containing Information furnished by META
shall be destroyed upon request. 
Consultant shall confirm in writing to META that he/she complied with
any such request.

 

10.                                 Breach
of Agreement. In the event either party
commits a material breach of this Agreement, the other party shall have the
right to terminate this Agreement upon fifteen (15) calendar days’ written notice
unless such breach is cured within such period. 
The party terminating this Agreement may hold the other party committing
the breach liable for damages incurred as a result of such breach.

 

11.                                 This Agreement constitutes the entire agreement
and understanding between the parties and shall not be modified, altered, or
changed.  Any changes, additions or
deletions must be listed on a separate addendum, which must be approved by
senior management prior to contract signing. 
This Agreement supersedes any agreement heretofore entered into between
the parties hereto.

 

12.                                 This Agreement and the rights and
obligations hereunder shall be governed by and construed in accordance with the
laws of the State of Connecticut, United States of America.  No waiver by either party at any time of any
breach by the other party or

 

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compliance with any
condition or provision of this Agreement shall be deemed a waiver of similar or
dissimilar provisions or conditions at the same time or any prior or subsequent
time.

 

13.                                 The parties intend to create by this
Agreement an independent contractor relationship, and not an employer-employee
relationship.  Consultant shall not be
considered an employee of META at any time, under any circumstances, or for any
purpose.  Neither party is the agent of
the other and neither party shall have the right to bind the other by contract
or otherwise, except as herein specifically provided.

 

14.                                 Arbitration.  Any and all disputes involving the interpretation
or claimed breach of this Agreement shall be fully and finally resolved in
arbitration under the Commercial Arbitration Rules of the American Arbitration
Association.  Any claim or arbitration
shall be filed with the American Arbitration Association in Hartford,
Connecticut in accordance with its rules, but no later than thirty (30) days
following the alleged breach or thirty (30) days following knowledge of the
alleged dispute.  The arbitration hearing
shall be conducted in the Stamford, Connecticut area.

 

The decision made
pursuant to such arbitration shall be binding and conclusive upon all parties
involved, and judgment upon such decision may be entered into any court of
competent jurisdiction.

 

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IN WITNESS WHEREOF, the
parties hereto have executed this Agreement this 7th day of November, 2004.

 

 

	
  /s/ Dale Kutnick

  	
   

  
	
  Dale Kutnick,
  Consultant

  

 

 

	
  /s/ CD Hobbs

  	
   

  
	
  CD Hobbs,
  President & Chief Operating Officer

  

 

8Exhibit 10.49

 

AMENDMENT NO. 1

to

AMENDED AND RESTATED CREDIT AGREEMENT

 

AMENDMENT
NO. 1 (this “Amendment”), dated as of November 4, 2004, to the Amended
and Restated Credit Agreement, dated as of March 12 2003, by and between META
GROUP, INC., a Delaware corporation (the “Borrower”) and THE BANK OF NEW
YORK (the “Bank”) (as amended, the “Credit Agreement”).

 

RECITALS

 

A.                                   Capitalized
terms used herein which are defined in the Credit Agreement shall have the
meanings therein defined.

 

B.                                     The
Borrower has requested that the Bank extend the Maturity Date from November 4,
2004 to April 4, 2005 and the Bank is willing to agree to the foregoing.

 

In
consideration of the covenants, conditions and agreements hereinafter set
forth, and for other good and valuable consideration, the receipt and adequacy
of which are acknowledged, it is agreed as follows:

 

1.                                       Section
1.1 of the Credit Agreement is amended to delete the defined term “Maturity
Date” and to substitute in place thereof the following new defined term:

 

“Maturity Date”: April 4, 2005 or such earlier
date on which the Note shall become due and payable, whether by acceleration or
otherwise.

 

2.                                       The
Credit Agreement is hereby further amended by deleting Schedule 4.1 thereto and
substituting in it place Schedule 4.1 (New) attached hereto.

 

3.                                       In
order to induce the Bank to execute this Amendment, the Borrower hereby (i)
certifies that, immediately after giving effect to this Amendment, all
representations and warranties contained in the Credit Agreement are true and
correct in all material respects as of the date hereof and no Default or Event
of Default exists under the Credit Agreement, (ii) reaffirms and admits the
validity and enforceability of the Loan Documents and its obligations
thereunder, and (iii) agrees and admits that it has no valid defenses to or
offsets against any of its obligations under the Loan Documents as of the date
hereof.

 

4.                                       In
all other respects, the Credit Agreement and the other Loan Documents shall remain
in full force and effect.

 

 

5.                                       This
Amendment may be executed in any number of counterparts, each of which shall be
an original and all of which shall constitute one agreement.  It shall not be necessary in making proof of
this Amendment to produce or account for more than one counterpart containing
the signature of the party to be charged.

 

6.                                       This
Amendment is being delivered in and is intended to be performed in the State of
New York and shall be construed and is enforceable in accordance with, and
shall be governed by, the internal laws of the State of New York without regard
to principles of conflict of laws.

 

7.                                       This
Amendment shall be subject to such conditions and limitations as are specified
herein, and the rights of the parties under the Credit Agreement and the other
Loan Documents shall be otherwise unaffected.

 

 

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

 

 

	
   

  	
  META GROUP, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John W. Riley

  	
   

  
	
   

  	
  Name:

  	
  John W. Riley

  
	
   

  	
  Title:

  	
  Vice President &
  CFO

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard B. McKeough

  	
   

  
	
   

  	
   

  	
  Richard
  B. McKeough

  
	
   

  	
   

  	
  Vice President

  
					

 

 

Schedule 4.1 (New)

 

List of
Subsidiaries; Capitalization

 

As of November 4,
2004

 

 

Sentry Group, Inc.

 

Incorporated in the
Commonwealth of Massachusetts

 

Capitalization:  Authorized capital: 3,000 shares of common
stock, par value $.01 per share: Issued and outstanding: 100 shares (held by
META Group, Inc. – certificate number 80).

 

 

MG (Bermuda) Ltd.

 

Incorporated in Bermuda

 

Capitalization:
Authorized capital: 12,000 shares of stock, par value $1.00 per share: META
Group, Inc. is the sole shareholder, holding all 12,000 shares.

 

 

1422722 Ontario,
Inc.

 

Incorporated in Canada

 

Capitalization:
Authorized capital: unlimited number of shares designated as Common shares:
Issued and outstanding: 1,001 shares (held by META Group, Inc. – certificate
number C-1 and C-2).

 

 

META Group
Singapore PTE LTD

 

Incorporated in Singapore

 

Capitalization:
Authorized capital: 100,000 ordinary shares: Issued and outstanding: 2 shares
(held by META Group, Inc. – certificate number 3).

 

 

META Group
Australia Holdings Pty. Limited

 

Incorporated in Australia

 

Capitalization:  Unlimited number of shares designated as
Ordinary shares: Issued and outstanding: 1 share (held by META Group, Inc. –
certificate number 1).

 

 

Abundant Strategy
SDN. BHD.

 

Incorporated in Malaysia

 

Capitalization:
Authorized capital: 100,000 shares, par value 1 RM (Malaysian Ringgit): Issued
and outstanding: 2 shares (held by META Group, Inc.).

 

 

META Group France,
S.A.

 

Incorporated in France

 

Capitalization:
38,113 number of shares authorized: Issued and outstanding: 38,113 shares
(38,106 held by META Group, Inc.).

 

 

META Group, AG

 

Incorporated in Germany

 

Capitalization:  1,120,000 number of shares authorized
designated as common shares: Issued and outstanding: 1,120,000 held by META
Group, Inc.

 

 

META Group Italia
S.r.l.

 

Incorporated in Italy

 

Capitalization:  Corporate capital of 46,800 EUR (Euros) 100%
of Quota held by META Group, Inc.

 

 

META Group UK
Holdings Limited

 

Incorporated in the
United Kingdom

 

Capitalization:  Issued and outstanding: 10 ordinary shares,
value 1 GBP (Pounds Sterling) held by META Group, Inc.

 

 

META Group Norway
AS

 

Incorporated in Norway

 

Capitalization:  Issued and outstanding: 2,333 shares, nominal
value 50 NOK (Norwegian Kroner) held by META Group, Inc.

 

 

META Group Sweden
AB

 

Incorporated in Sweden

 

Capitalization:  Issued and outstanding: 1,000 shares, nominal
value 100 SEK (Swedish Kroner) held by META Group, Inc.

 

 

META Group Finland
OY

 

Incorporated in Finland

 

Capitalization:  Issued and outstanding: 100 shares, nominal
value 80 EUR held by META Group, Inc.

 

 

META Group Denmark
A/S

 

Incorporated in Denmark

 

Capitalization:  Issued and outstanding: 5,000 shares, nominal
value 100 DKK (Danish Kroner) held by META Group, Inc.

 

 

META Group
Northern Europe ApS

 

Incorporated in Demark

 

Capitalization:  Issued and outstanding: 125 shares, nominal
value 1,000 DKK held by META Group, Inc.

 

 

ATEM Netherlands
ApS

 

Incorporated in Denmark

 

Capitalization:  Issued and outstanding: 125 shares, nominal
value 1,000 DKK held by META Group, Inc.

 

 

META Group Korea
Co. Limited

 

Incorporated in South
Korea

 

Capitalization:  Issued and outstanding: 100 shares held by
META Group, Inc.

 

 

META Group IT
Corp.

 

Incorporated in the
Philippines

 

Capitalization:  Issued and outstanding: 100 shares held by
META Group, Inc.

 

 

META Group Middle
East FZ – LLC

 

Incorporated in Dubai

 

Capitalization:  Issued and outstanding: 500 shares held by
META Group, Inc.

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