Document:

COLLINS LETTER

  
 EXHIBIT 10.42 
 July 17, 2002 
  
 Michael J. Colllins 
 11537 Tralee
Drive 
 Great Falls, VA 22066 
  
 Dear Michael: 

 
 On behalf of Mercator Software, I am very pleased to extend an offer of employment to you as SVP, Chief Marketing Officer. Your
first day of employment will commence on or about August 5, 2002. Following are details of our offer to you. 
  
 1.    Position.    You will start in a full-time position as SVP, CMO reporting to Roy King, Chairman & CEO. Your primary office location will be Reston, VA. By signing this letter, you
confirm to the Company that you are under no contractual or other legal obligations that would prohibit you from entering employment with or performing your duties for the Company. 
  
 2.    Compensation and Employee Benefits.    You will be paid a starting salary at the rate of $215,000 annually, subject to an annual compensation review each
year beginning January, 2003, and payable bi-weekly in accordance with the Company’s standard payroll schedule. We will also offer you the opportunity to participate in the Company’s annual incentive bonus plan, under which you will be
eligible to earn, at par, a bonus of 100% of your base salary. The bonus payout is based upon corporate and strategic performance objectives. The payout range is zero to 300%. Your 2002 bonus is guaranteed to be no less than $25,000 of the pro-rated
at par amount and that amount will be in addition to the earned bonus. It will be payable in February of following year, consistent with when other executives at this level are paid. You will be eligible to participate in the company-sponsored
executive benefit program, including MERP. 
  
 3.    Options.    You will be granted 100,000
options, subject to approval of the Compensation Committee of the Board of Directors, upon joining the company with an exercise price equal to the fair market value on the date of hire. Upon your start date, 25,000 options will vest immediately,
with the remainder vesting quarterly over a four year period. In addition, you will be eligible for 50,000 additional options in Q1 2003 contingent upon your performance and Board approval. 
  

Upon a change of control of Mercator, Fifty (50%) percent of your outstanding unvested stock options will vest and become immediately exercisable. In the event of a Change of Control, if you
are constructively dismissed within one year of such action, you will be provided a pro-ration of your y-t-d target annual bonus, plus 12 months severance (salary & target bonus) and benefits and 100% of your outstanding unvested stock options
will vest and become immediately exercisable. 

  
 A change of control will be defined as the Acquisition, merger, dissolution, liquidation, consolidation
or sale of all or substantially all of the assets of the company. The options that you acquire shall be subject to the terms and conditions of the relevant stock option plan and stock option agreement and other related agreements to be entered into
by and between you and the Company. 
  
 Constructive dismissal shall be defined as the occurrence of any of the following, without
employee’s written consent: (i) a significant diminution of, or the assignment to you of any duties inconsistent with your title, status, duties or responsibilities, (ii) a reduction in annual base salary, target bonus or fringe benefit which
by itself or in the aggregate is material to employee’s compensation, (iii) the relocation of employee’s office more than fifty (50) miles, or (iv) the failure to obtain the written assumption of employee’s employment Agreement by any
successor to all or substantially all of its assets or business within thirty (30) days after a merger, consolidation, sale or a Change of Control as defined above. 
  
 4.    Vacation.    You will be entitled to four weeks vacation annually, pro-rated for 2002. in addition to scheduled company holidays. 
  
 5.    Life Insurance.    As an executive within the company, you will be entitled to receive term life insurance in the
amount of $500,000 subject to insurance physical and review. 
  
 6.    Severance.    If you are
constructively dismissed for any reason other than for cause, you will be entitled to twelve months’ salary payable biweekly. In addition, executive benefits for medical insurance and other executive perquisites will be provided for twelve
months or until available from another employer, whichever occurs first. Cause means: (i) your conviction of a felony; (ii) your willful neglect of your obligations and duties hereunder, which neglect you fail to remedy within ten days after written
demand from Mercator; or (iii) you willfully engage in conduct demonstrably and materially injurious to Mercator, momentarily or otherwise, and fail to remedy such conduct within ten days after receipt of Notice thereof from Mercator. For the
purpose of this clause, no act, or failure to act, on your part shall be deemed willful unless done, or omitted to be done, by you in good faith and without reasonable belief that your action or omission was in, or not opposed to, the best interests
of Mercator. 
  
 Constructive dismissal shall be defined as in section 3 above. 
  

7.    Employment Relationship.    The term of your employment with the Company is for no specific period of time. Your employment with the Company
will be “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. This is the full and complete agreement between you and the Company on this term. Although your
job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed
by you and the Company. 

 
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 8.    Withholding Taxes.    All amounts of compensation referred
to in this letter are subject to reduction by the Company to meet all applicable withholding and payroll tax requirements. 
  
 9.    Conditions of Employment.    Upon joining Mercator, you will be required to sign the enclosed Conditions of Employment agreement that includes non-disclosure and non-compete clauses which
set forth conditions relating to the security and protection of the Company’s trade secrets. In addition, you will be required to comply with an periodically sign a certification of compliance with Mercator’s Insider Trading Policy.

  
 10.    Entire Agreement.    This letter supersedes and replaces any prior understandings or
agreements, whether oral or written, between you and ths Company regarding the subject matter described in this letter. 
  
 We hope that you find the foregoing terms acceptable. You may indicate your agreement with these terms and accept this offer by signing and dating the line provided below and returning the executed copy to the undersigned. The terms
and conditions of this offer will expire on July 23rd, 2002 unless extended in writing. Your employment with the Company is also contingent upon approval by the Compensation and Options Committees of the Board of Directors and your providing legal
proof of your identify and authorization to work in the United States. 
  
 I look forward to working with you and if
you have any questions, please call me at (203) 563-1358 (cell: 203-722-9416). 
  
 Very truly
yours, 
 MERCATOR SOFTWARE, INC. 
  
 /s/    Greg O’Brien 
  
 Greg O’Brien 
 SVP Human Resources 
  
 I have read and accept this employment offer: 
  
 
	 /s/    Michael J. Collins
 	 	 Date:
 	 	 7/23/02
 
	 
	 	  	 	 

	 Signature of Michael J. Collins
 	 	  	 	  

 

 
 3GORET LETTER

  
 EXHIBIT 10.43 
 August 1, 2002 
  
 David L. Goret 
 116 Sand Spring
Road 
 New Vernon, N.J. 07976 
  
 Dear David: 

 
 On behalf of Mercator Software, I am very pleased to extend an offer of employment to you as Senior VP, General Counsel. Your
first day of employment is to be determined but expected on or about September 3, 2002. Following are details of our offer to you. 
  
 1.  Position.    SVP, General Counsel reporting to Ken Hall, Executive VP, CFO & Treasurer. Your work location will be Wilton, CT. By signing this letter, you confirm to the Company that you
are under no contractual or other legal obligations that would prohibit you from entering employment with or performing your duties for the Company. 
  
 2.  Compensation and Employee Benefits.    You will be paid a starting salary at the rate of $208,000 annually, subject to Mercator’s annual compensation review each
year beginning January, 2003, and payable bi-weekly in accordance with the Company’s standard payroll schedule. We will also offer you the opportunity to participate in the Company’s annual incentive bonus plan, under which you will be
eligible to earn, at par, a bonus of 75% of your base salary. The bonus payout is based upon corporate and strategic performance objectives. The payout range is zero to 300% of the at par amount, pro-rated for 2002. A $15,000 advance of this bonus
will be paid upon your start, and applied against the bonus earned and payable in February of following year, consistent with when other executives at this level are paid. As a senior executive, you will be eligible to participate in the
company-sponsored executive benefit program, including MERP (Medical Executive Reimbursement Program), pro-rated to 50% of the calendar year benefit for 2002. 
  
 3.  Options.    You will be granted 100,000 options, subject to approval of the Compensation Committee of the Board of Directors, upon joining the company with an exercise
price equal to the fair market value on the date of hire. Upon your start date, 25,000 options will vest immediately, with the remainder vesting quarterly over a four-year period. In addition, you will be eligible for additional options in Q1 along
with other senior executives. 

  
 Upon a change of control of Mercator, Fifty (50%) percent of your outstanding
unvested stock options will vest and become immediately exercisable. In the event of a Change of Control, if you are constructively dismissed within one year of such action, you will be provided a pro-ration of your y-t-d target annual bonus, plus
12 months severance (salary & target bonus) and benefits and 100% of your outstanding unvested stock options will vest and become immediately exercisable. 
  
 A change of control will be defined as the Acquisition, merger, dissolution, liquidation, consolidation or sale of all or substantially all of the assets of the company. The options that you acquire
shall be subject to the terms and conditions of the relevant stock option plan and stock option agreement and other related agreements to be entered into by and between you and the Company. 
  
 Constructive dismissal shall be defined as the occurrence of any of the following, without employee’s written consent: (i) a significant diminution of, or the
assignment to you of any duties inconsistent with your title, status, duties or responsibilities, (ii) a reduction in annual base salary, target bonus or fringe benefit which by itself or in the aggregate is material to employee’s compensation,
or (iii) the failure to obtain the written assumption of employee’s employment Agreement by any successor to all or substantially all of its assets or business within thirty (30) days after a merger, consolidation, sale or a Change of Control
as defined above. 
  
 4.  Vacation.    You will be entitled to four weeks vacation
annually, pro-rated for 2002 in addition to scheduled company holidays. 
  
 5.  Life
Insurance.    As an executive within the company, you will be entitled to receive term life insurance in the amount of $500,000 subject to insurance physical and review. 
  
 6.  Severance.    If you are constructively dismissed for any reason other than for cause, you will be entitled to twelve months’ salary
payable biweekly. In addition, executive benefits for medical insurance and other executive perquisites will be provided for twelve months or until available from another employer, whichever occurs first. Cause means: (i) your conviction of a
felony; 
  
 (ii) your willful neglect of your obligations and duties hereunder, which neglect you fail to remedy
within ten days after written demand from Mercator; or (iii) you willfully engage in conduct demonstrably and materially injurious to Mercator, momentarily or otherwise, and fail to remedy such conduct within ten days after receipt of Notice thereof
from Mercator. For the purpose of this clause, no act, or failure to act, on your part shall be deemed willful unless done, or omitted to be done, by you in good faith and without reasonable belief that your action or omission was in, or not opposed
to, the best interests of Mercator. 
  
 Constructive dismissal shall be defined as in section 3 above. 
  
 7.  Employment Relationship.    The term of your employment with the Company is for no specific period of
time. Your employment with the Company will be “at will,” meaning that either you or the Company may terminate your employment at any time and for any 

 
 2 

  
 reason, with or without cause. This is the full and complete agreement between you and the Company on
this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express
written agreement signed by you and the Company. 
  
 8.  Withholding Taxes.    All
amounts of compensation referred to in this letter are subject to reduction by the Company to meet all applicable withholding and payroll tax requirements. 
  
 9.  Conditions of Employment.  Upon joining Mercator, you will be required to sign the enclosed Conditions of Employment agreement that includes non-disclosure and non-compete
clauses which set forth conditions relating to the security and protection of the Company’s trade secrets. In addition, you will be required to comply with and periodically sign a certification of compliance with Mercator’s Insider Trading
Policy. 
  
 10.  Entire Agreement.    This letter supersedes and replaces any prior
understandings or agreements, whether oral or written, between you and the Company regarding the subject matter described in this letter and is subject to a successful background, reference check and approval by the Board of Directors. 

 
 We hope that you find the foregoing terms acceptable. You may indicate your agreement with these terms and accept this offer by
signing and dating the line provided below and returning the executed copy to the undersigned. The terms and conditions of this offer will expire on August 2, 2002 unless extended in writing. Your employment with the Company is also contingent upon
approval by the Compensation and Options Committees of the Board of Directors and your providing legal proof of your identify and authorization to work in the United States. 
  
 I look forward to working with you and if you have any questions, please call me at (203) 563-1358 (cell: 203-722-9416). 
  
 Very truly yours, 
 MERCATOR SOFTWARE, INC. 
  
 /s/    Greg O’Brien

  
 Greg O’Brien 
 SVP Human Resources 
  
 I have read and accept this employment offer:

  
 Date: 8/1/02 
 
	  	 	 /s/    DAVID L. GORET
 
	 	
	

	  	 	 Signature of David L. Goret
 

 

 
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