Document:

Employment Agreement, dated March 18, 2003

EXHIBIT 10.39 
 
March 18, 2003 
 
Elizabeth A. Fetter 
2888 Sacramento Street 
San Francisco, California 94115 
 
Dear Liz, 
 
It is
a pleasure for me to provide you with this letter agreement setting forth the terms of your continuing employment with QRS Corporation (“QRS” or the “Company”). This letter supersedes and replaces all prior agreements between you
and QRS regarding the terms of your continuing employment with the Company. This letter does not affect the terms of the written Indemnification Agreement between you and QRS or the stock options previously granted to you. 
 
POSITION 
 
President, Chief Executive Officer and Member of the Board of Directors 
 
REPORTING TO 
 
The Board of Directors 
 
LOCATION 
 
Richmond, California 
 
ANNUAL COMPENSATION 
 
Your annual compensation, incentive compensation and performance evaluation will be administered by the Compensation Committee and reviewed by the Board
of Directors. Effective as of January 1, 2003, your annual compensation shall be as follows: 
 

	 	1.	 	Your annual base compensation will be $450,000 or $37,500 per month. QRS employees are paid semi-monthly (i.e., on the fifteenth and last working day of each month).

 

	 	2.	 	In addition, your annual target incentive compensation shall be 75 % of your base compensation or $337,500. The actual incentive compensation that you receive shall
be based upon the performance of the Company as a whole and your individual performance during the calendar year as described below under annual incentive compensation components. Your total annual target compensation is the sum of your base
compensation and your target incentive compensation. Your compensation, including incentives, will be reviewed in the fourth quarter of 2003 and each year thereafter in conjunction with the Compensation Committee’s evaluation of your
performance. If there is a material change in the nature of your responsibilities, your compensation will be reviewed at that time. 

 

 
REIMBURSEMENT OF REASONABLE
BUSINESS EXPENSES 
 
QRS will reimburse you for all business
expenses reasonably incurred by you in the performance of your duties hereunder. You will adhere to QRS’ travel and entertainment polices and procedures, submit expense reports with appropriate vouchers, receipts, and other substantiation of
such expenses within thirty (30) days after they are incurred. You should expect prompt reimbursement. 
 
ANNUAL INCENTIVE COMPENSATION COMPONENTS 
 

	 	1.	 	General Corporate Financial Objectives—Eighty percent (80%) of your incentive compensation shall be based upon the extent to which QRS achieves its
overall financial objectives as defined by the applicable annual operating plan approved by the Board of Directors. Should the Company not achieve the financial objectives set forth in the operating plan, your incentive compensation will be
subjectively determined based upon your performance against your objectives and the Company’s determination as to available incentive compensation funding. The timing of any payouts for the corporate component of your incentive compensation
shall be consistent with the incentive compensation program adopted by the Compensation Committee for the Executive Leadership Team as a whole. 

 

	 	2.	 	Personal Strategies and Objectives—Twenty percent (20%) of your incentive compensation is subject to fulfillment of your specific objectives as CEO as
identified from time to time by the Compensation Committee. Such factors may include the overall performance of you and your direct reporting organization in meeting Company and individual responsibilities, developing and executing appropriate
Company strategies, achieving a high degree of customer service and loyalty, ensuring employee satisfaction and retention, and supporting overall Company objectives. 

 
LONG TERM INCENTIVES 
 
It will be recommended that you receive a grant of 25,000 restricted share rights for the Company’s common stock under the Company’s 1993 Stock
Option Plan (the “Plan”), a copy of which is available for your review. This recommendation will be presented to the Compensation Committee of the Board of Directors at its first meeting subsequent to your acceptance of this letter. The
shares shall vest and become payable on January 1, 2006 provided that you remain employed by the Company at that time.  
 
In addition, the Compensation Committee has approved a stock option grant of 60,000 shares in accordance with the Plan. These shares shall be subject to
performance vesting in accordance with the terms approved by the Compensation Committee. These terms shall be reflected in the option agreement that will be provided to you. The Compensation Committee also has approved an additional stock option
grant of 30,000 shares that shall become fully vested upon the earlier of: (1) when the Company establishes and maintains a stock price of more than $12 for 15 consecutive trading days or (2) the sixth anniversary of the grant date. At the sole
discretion of the Compensation Committee, you will also have the opportunity to be considered for an additional stock option grant in the amount of 60,000 shares during the third quarter of 2003. If your employment terminates for any reason (whether
or not in connection with a change in control of the Company), the options that have 
 

 
vested as of your termination
date shall remain exercisable for twelve (12) months after the termination of your service with the Company or such longer period as the Plan or Plan Administrator may specify, provided that no option may be exercised after the specified expiration
date of the option term. 
 
BENEFITS 
 
In addition to the benefits available to all QRS associates as defined in the
Employee Handbook; as the Chief Executive Officer you are provided with additional benefits as follows: 
 
Life Insurance—The Company shall purchase and maintain in effect term life insurance sufficient to provide a benefit equal to two times your annual base salary. 
 
Disability Insurance—The Company shall purchase and maintain in effect
disability insurance sufficient to provide you with an income equal to 66% of your base compensation while you are disabled and unable to perform the duties of your current employment with QRS. You will have the option of continuing this additional
disability insurance coverage at your own expense in the event of the termination of your employment. This additional insurance benefit is taxable and will be reported for tax purposes as additional income to you. The Company shall adjust your base
compensation to include an amount sufficient to compensate you for the federal and state taxes for which you will be responsible on account of the additional income reported on account of this disability insurance benefit. 
 
Liability Insurance—The Company shall purchase and maintain in effect
sufficient Director’s and Officer’s liability insurance to provide you with reasonable coverage, including the provision of legal counsel and/or reimbursement of appropriate legal fees you pay personally, against all liability claims and
judgments arising from your legal exercise of your duties as a Director or Officer of QRS, including any actions filed after you cease your duties as a Director or Officer or in the event of the termination of your employment. The Company shall also
provide in its bylaws, a full indemnification for you as a QRS officer, to the maximum extent permissible under Delaware law. The Company shall retain the sole discretion to determine the amount and form of Director’s and Officer’s
liability insurance that is sufficient to provide you with reasonable coverage. 
 
PTO—You will be entitled to 10 holidays per calendar year and 25 PTO (Personal Time Off) days per year. A prorated portion of PTO is accrued each pay period. PTO may be used for vacation, illness, or other purposes at your
discretion. A maximum of 50 days of unused PTO may be carried over from year to year. 
 
TERMINATION AND SEVERANCE 
 
This position is for no set period or term and just as you have the right to resign your position at any time, for any reason, QRS reserves the right to terminate your employment at any time, with or without good cause, with
or without advance notice. 
 
If the Company terminates your
employment without cause under circumstances not entitling you to severance and accelerated vesting under “Change of Control” below, you will become entitled to severance pay equal in the aggregate to your total annual targeted
compensation at the level in effect at the time of your termination. Such severance pay will be made in four equal installments with the 
 

 
first payment occurring within
ten days following the termination of your employment and the remaining three payments to be made three, six and nine months following the date that the Company terminates your employment. In addition, you shall be entitled to receive at the time of
your termination the pro-rata amount (based upon the length of your employment during the fiscal year) of your annual target incentive compensation calculated at 100% of your target incentive for the period of your service during the fiscal year.
All such payments will be subject to applicable deductions and withholding taxes. The Company will also make COBRA payments on your behalf for 12 months following your termination. You shall receive no severance benefits under this paragraph if the
Company terminates your employment for cause or you voluntarily resign your position. As a condition of receiving the severance benefits set forth in this paragraph, the Company may require you to sign a written release in a form acceptable to the
Company of any known and unknown claims by you against the Company arising out of your employment, excluding any claims for indemnification against claims made by third parties, in which case no payment will be made to you under this paragraph until
you have executed such release and any time period during which you may revoke such release has lapsed. 
 
For purposes of this agreement, termination “for cause” shall mean the Company’s termination of your employment for any of the following reasons: (1) your failure to perform in a
diligent or competent fashion consistent with your position as CEO, President or member of the Board of Directors the material duties of your job after a written demand for such performance is delivered to you by the Company that identifies the
manner in which you have not substantially performed those duties and that provides a reasonable period for you to cure those deficiencies; (2) a material breach by you of your obligations under any confidential or proprietary information agreements
with the Company or of any of your fiduciary or legal obligations as a director or officer of the Company, (3) your failure to follow in a material respect Company policies or directives applicable to your position, (4) any willful misconduct on
your part or (5) any unauthorized activity on your part that creates a material conflict of interest between you and the Company after you have been provided a reasonable opportunity to refrain from that activity. 
 
CHANGE OF CONTROL BENEFITS 
 

	 	1.	 	Should there occur a Corporate Transaction or a Change in Control (as those terms are defined in the Company’s 1993 Stock Option/Stock Issuance Plan) and either
(i) your employment is subsequently involuntarily terminated other than for “Misconduct” (as defined below) within twelve (12) months or (ii) you subsequently resign within twelve (12) months by reason of a material reduction in your base
compensation, your annual total target compensation, or your benefits (for this purpose, 15% will be deemed a material reduction of base compensation, total target compensation and benefits), a material reduction in your duties or responsibilities,
or a change in your principal place of employment that increases your commute by more than 25 miles, then you will be entitled to severance pay equal in the aggregate to two times your targeted total annual compensation at the level in effect at the
time of your termination or resignation or (if greater) at the level in effect immediately prior to the Corporate Transaction or Change in Control. The payments set forth in this paragraph shall be made in four equal installments with the first
payment occurring within ten days following the termination of your employment and the remaining three payments to be made three, six and nine months following the date that the Company terminates your employment. 

 

	 	    	 	In addition, you shall be entitled to receive at the time of your termination the pro-rata amount (based upon the length of your employment during the fiscal year)
of your annual incentive compensation calculated at 100% of your target incentive compensation for the period of your service during the fiscal year. The Company shall also make COBRA payments on your behalf for a period of 18 months from the date
you resign or are terminated. 

 

	 	2.	 	Except to the extent otherwise provided in paragraph 3 below, should a Corporate Transaction or Change in Control occur during your period of employment with the
Company, then (i) all of your outstanding options will, immediately prior to the specified effective date for the Corporate Transaction or Change in Control, become exercisable for all the shares at the time subject to those options, whether or not
those options are to be assumed or replaced with a cash incentive program, and those accelerated options may be exercised for all or any portion of the option shares as fully vested shares; and (ii) all of your unvested restricted share rights for
QRS stock will immediately vest at the time of such Corporate Transaction or Change in Control. 

 

	 	3.	 	However, the following limitation will be in effect for (i) all of your unvested restricted share rights for QRS stock and (ii) any unvested options that are to be
assumed by the successor entity (or parent company) or otherwise continued in effect or which are to be replaced with a cash incentive program that preserves the spread existing at the time of such Corporate Transaction or Change in Control on any
shares for which your options are not otherwise at that time exercisable (the excess of the fair market value of those shares over the exercise price): The accelerated vesting of those unvested restricted share rights and options will be limited to
the extent and only to the extent necessary to assure that the parachute payment attributable to the accelerated vesting of those shares and options, when aggregated with any other compensation that constitutes a parachute payment, would not
constitute an excess parachute payment under Internal Revenue Code Section 280G(b). 

 

	 	    	 	To the extent one of more of your options or unvested restricted share rights do not vest on an accelerated basis upon a Corporate Transaction or Change in Control
by reason of such limitation, those options will continue to become exercisable in accordance with the exercise schedule indicated in the respective grant notices for those options, and those unvested restricted share rights will continue to vest in
accordance with the vesting schedule set forth in the applicable Restricted Share Right Agreements. However, following a Corporate Transaction or Change in Control should either (i) your employment be involuntarily terminated other than for
Misconduct or (ii) you resign by reason of a material reduction in your base compensation, your annual total target compensation, or your benefits (for this purpose, 15% will be deemed a material reduction), a material reduction in your duties or
responsibilities, or a change in your principal place of employment that increases your commute by more than 25 miles, at the time of such Corporate Transaction or Change in Control or within twenty four (24) months thereafter, then each of your
outstanding options, to the extent not otherwise fully exercisable at that time, shall automatically accelerate and become immediately exercisable for all the option shares and may be exercised for any or all of those shares as fully vested shares
at any time prior to the expiration or sooner termination of the option term. In addition, all of your unvested restricted share rights will immediately vest upon such a termination of employment or your resignation. 

 

 

	 	4.	 	If acceleration of vesting of your options and restricted share rights upon such a termination of your employment, alone or when aggregated with other compensation
payable to you, constitute an “excess parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “ Code”) and would subject you to an excise tax under Section 4999 of the Code (or
successor or similar provisions), the Company shall pay you an additional amount, which, when reduced by all taxes thereon (including any additional tax owed under Section 4999 of the Code (or successor or similar provision)) provides you with
sufficient cash to pay the amount of excise tax owed by you on all amounts payable hereunder (computed disregarding than such additional payment). If the Internal Revenue Service asserts such an excise tax and the Company does not believe such
excise tax is due, you agree to assist the Company in contesting such assertion; provided the Company advances you funds to pay the amount of excise tax when asserted by the IRS and indemnifies you for any penalties or interest resulting from such
contest. 

 

	 	5.	 	Any of your options or restricted share rights that are assumed by the successor entity (or parent company) in the Corporate Transaction or are otherwise continued
in effect following the Change in Control transaction shall be appropriately adjusted to apply and pertain to the number and class of securities that would have been issued to you in the consummation of such Corporate Transaction or Change in
Control had the options been exercised or the restricted share rights settled immediately prior to such event. Appropriate adjustments shall also be made to the option prices payable per share under the options, provided the aggregate option prices
payable shall remain the same. 

 

	 	6.	 	For purposes of this Agreement, Misconduct means (i) your willful engagement in gross misconduct injurious to the Company or your commission of any act of gross
negligence or malfeasance with respect to your duties incident to your employment; (ii) your willful failure to attend to the material duties assigned to you by the Board of Directors; (iii) your commission of any act of fraud, embezzlement or
dishonesty against the Company or any affiliate thereof, or (iv) your conviction for any criminal offense involving fraud or dishonesty or any similar conduct that is injurious to the reputation of the Company. For purposes of this Agreement, a
Corporate Transaction shall not include any merger, whether forward or reverse, if, immediately after the merger, securities possessing 50% or more of the total combined voting power of the surviving entity or parent thereof are beneficially owned,
directly or indirectly, by those persons who were the Company’s stockholders immediately before the merger in substantially the same proportion as their stockholdings immediately before the merger. 

 
EMPLOYMENT AT WILL 
 
Your employment in the position of President and Chief Executive Officer will
remain an Employment At Will. This means that your position is for no set period or term and just as you have the right to resign your position at any time, for any reason, QRS reserves the right to terminate your employment at any time, with or
without cause and with or without advance notice. If any contrary representation has been made to you, this letter supersedes it. Neither subsequent agreement contrary to this nor any amendment to this term can be made unless it is in writing and
signed by both of us and copied to the Chairman of the Compensation Committee. 
 

 
I trust the above meets your
approval. However, should you have any questions or concerns, you should not hesitate to contact either Phil Schlein or myself. For our part we look forward, with tremendous enthusiasm, to your continuing employment with QRS and our ongoing
relationship. 
 
Sincerely,

 
/s/    GARTH SALONER 
 
Garth Saloner, Chairman of the Board 
 
cc: Philip Schlein—Chairman of the Compensation Committee 
 
I accept this ongoing position with QRS Corporation on the terms and
conditions above and understand and agree that it supersedes any other agreement, written or oral, I may have with QRS with respect to employment or compensation by QRS, including salary, incentive, options, termination and severance. 
 

	 	 	 	 	 
	
	 	 	 /s/    ELIZABETH A. FETTER

	 	 	 	 	 	 March 18, 2003

	 	 	 Elizabeth A. Fetter
	 	 	 	 	 	 DateSeparation Agreement and Release

 
EXHIBIT 10.40

 
SEPARATION AGREEMENT AND RELEASE

 
This Separation Agreement and Release
(“Agreement”) is entered into by and between QRS Corporation, its officers, directors, employees, representatives, agents, attorneys, investors, shareholders, administrators, affiliates, predecessor and successor corporations and assigns
(the “Company”), and Mark Self, his heirs, executors, representatives and assigns (“Employee”). 
 
WHEREAS, Employee has been employed by the Company; 
 
WHEREAS, the Employee’s employment with the Company terminated on the date set forth herein;

 
NOW, THEREFORE, in consideration of the mutual
promises made herein, the Company and Employee (collectively referred to as the “Parties”) hereby agree as follows: 
 
1. Termination. The Company and Employee acknowledge and agree that Employee’s separation from the Company was effective July
31, 2002 (the “Termination Date”). The Company may immediately terminate this Agreement without any further liability to Employee if Employee: (1) materially breaches any obligation under any confidential or proprietary information
agreements with the Company or violates his fiduciary duties as a former officer of the Company, (2) fails to follow in a material respect any reasonable policies established on an employee-wide basis by the Company, (3) engages in willful
misconduct having a material detrimental effect on the Company, or (4) engages in unauthorized activity creating a material conflict of interest between Employee and the Company after notice and a reasonable opportunity to refrain from that conduct.

 
2. Consideration. In consideration for
the mutual release of claims set forth below and other obligations under this Agreement, the Company and Employee agree as follows: 
 

	 	(a)	 	To Severance Pay in the amount of $330,000, less applicable withholdings, delivered on or before January 6, 2003 to Employee’s counsel Kenneth A. Hecht, Jr.,
Esq., Robbins Palmer Allen LLP, 1901 Harrison Street, Suite 1550, Oakland, CA 94612. 

 

	 	(b)	 	As Employee elects COBRA coverage for medical, dental and/or vision insurance for himself (and, to the extent he covered his spouse or any dependents under his
medical, dental and/or vision plans as of the Termination Date, for his spouse and/or such dependents), the Company will pay for the first twelve (12) months of COBRA coverage, through July 31, 2003. However, if he becomes employed full-time prior
to the end of such period, the Company shall have no obligation to pay such premiums. 

 
3. Stock Option. Employee acknowledges and agrees that any unvested stock options and/or restricted stock presently issued and
outstanding ceased to vest on 
 

Termination Date. Employee agrees that he shall have no further rights to any shares which remained
unvested as of Termination Date. 
 
4. No Other
Payments Due. Employee acknowledges and agrees that he has received all salary, accrued vacation, bonuses, or other such sums due to Employee other than amounts to be paid and benefits provided pursuant to Section 2 of this Agreement. In light
of the payment by the Company of all wages due, or to become due to the Employee, the Parties further acknowledge and agree that California Labor Code section 206.5 is not applicable to the Parties hereto. That section provides in pertinent part as
follows: 
 
No employer shall require the
execution of any release claim or right on account of wages due, or to become due, or made as an advance on wages to be earned, unless payment of such wages has been made. 
 
5. Mutual Release of Claims. In consideration for the obligations of both parties under this
Agreement, each party hereby fully and forever releases the other party from any claim, duty, obligation or cause of action relating to any matters of any kind, whether known or unknown, suspected or unsuspected, that the party may possess arising
from any omissions, acts or facts that have occurred up until and including the Effective Date of this Agreement including, without limitation: 
 

	 	(a)	 	any and all claims relating to or arising from Employee’s employment relationship with the Company and termination of that relationship;

 

	 	(b)	 	any and all claims relating to, or arising from, Employee’s right to purchase, or actual purchase of shares of stock of the Company; 

 

	 	(c)	 	any and all claims for wrongful discharge of employment; breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both
express and implied; negligent or intentional infliction of emotional distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; and defamation;

 

	 	(d)	 	any and all claims for violation of any federal, state or municipal statute, including, but not limited to, Title VII of the Civil Rights Act of 1964, the Age
Discrimination in Employment Act of 1967, and the California Fair Employment and Housing Act; 

 

	 	(e)	 	any and all claims arising out of any other laws and regulations relating to employment or employment discrimination; 

 

	 	(f)	 	any and all claims for attorney’s fees and costs; 

 

	 	(g)	 	any and all claims of material breach of any obligation under any confidential or proprietary information agreements between the Company and Employee;

 

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	 	(h)	 	any failure to follow in a material respect any reasonable policies established on an employee-wide basis by the Company; or 

 

	 	(i)	 	unauthorized activity creating a material conflict of interest between Employee and the Company. 

 
The parties agree that the release set forth in this section shall be and will
remain in effect in all respects as a complete and general release as to the matters released, except that this release does not extend to any obligations incurred under this Agreement or to the expense report Employee submitted to the Company
December 17, 2002 in the amount of $1,557.12, nor does it abrogate any rights of Employee pursuant to California Labor Code section 2802 or release Employee of any fiduciary obligations, other than those stated above, as a former officer of the
Company. 
 
6. Waiver of Unknown or Future
Claims. Employee and Company each represent that they are not aware of any claim other than the claims that are released by this Agreement. Employee and Company each acknowledge that they are familiar with the provisions of California Civil Code
section 1542, which provides as follows: 
 
A
GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH DEBTOR. 
 
Except as stated above, Employee and Company, being aware of
such code section, agrees to waive any rights either party may have thereunder, as well as under any other statute or common law principles of similar effect. 
 
7. Agreement to Cooperate. Employee agrees to cooperate fully with the Company in matters arising out of Employee’s employment
with the Company, and Employee will participate in and/or attend any and all investigations, depositions or other proceedings(s), including trial, related to such matters, as reasonably necessary and at the Company’s reasonable expense.

 
8. Nondisclosure of Confidential and
Proprietary Information. Employee agrees that he shall continue to maintain the confidentiality of all confidential and proprietary information of the Company as provided by the agreement regarding confidential and proprietary information and
ownership of inventions (the “Confidentiality Agreement”) between the Company and the Employee (a copy of which was provided in Employee’s exit packet). Employee agrees that at all times hereafter, in accordance with the terms of
Confidentiality Agreement and applicable state and federal law, Employee shall not divulge, furnish or make available to any party any confidential information, trade secrets, patents, patent applications, price decisions or determination,
invention, customers, proprietary information or other intellectual property rights of the Company, until after such time as such information has become publicly known otherwise than by act of collusion of Employee. Employee further agrees that for
a 12-month period commencing of the Termination Date, he will not solicit, recruit, or induce any employee of QRS Corporation to terminate or alter his employment or consulting 
 

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relationship with the Company. Employee further acknowledges and agrees that he has returned or will have
returned all the Company’s property and confidential and proprietary information in his possession to the Company as of the Termination Date. 
 
9. Breach of this Agreement. Employee acknowledges that breach of the confidential and proprietary information provision contained
in Section 8 of this Agreement would cause the Company to sustain irreparable harm from such breach, and, therefore, Employee agrees that in addition to any other remedies which the Company may have for any breach of this Agreement or otherwise,
including termination of the Company’s obligations to provide Severance pay and benefits to employee as described in section 2 of this Agreement, the Company shall be entitled to obtain equitable relief including specific performance and
injunctions restraining Employee from committing or continuing any such violation of this Agreement. 
 
10. Authority. The Company represents and warrants that the undersigned has the authority to act on behalf of the Company and to
bind the Company and all who may claim through it to the terms and conditions of this Agreement. Employee represents and warrants that he has the capacity to act on his own behalf and on behalf of all who might claim through him to bind them to the
terms and conditions of this Agreement. Each Party warrants and represents that there are no liens or claims of lien or assignments in law or equity or otherwise of or against any of the claims or causes of action released herein. 
 
11. No Representation. Each party represents that it
has carefully read and understands the scope and effect of the provisions of this Agreement. Neither party has relied upon any representations or statements made by the other party which are not specifically set forth in this Agreement.

 
12. Costs. The Parties shall each bear
their own costs, attorneys’ fees and other fees incurred in connection with this Agreement. 
 
13. Severability. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full
fore and effect without said provision. 
 
14.
Arbitration. The Parties shall attempt to settle all disputes arising in connection with this Agreement through good faith consultation. In the event no agreement can be reached on such dispute within fifteen (15) days after notification in
writing by either Party to the other concerning such dispute, the dispute shall be settled by binding arbitration to be conducted in California before the American Arbitration Associate under its National Employment Dispute Resolution Rules, or by a
private judge to be mutually agreed upon. The arbitration decision shall be final, conclusive and binding on both Parties and any arbitration award or decision may be entered in any court having jurisdiction. The Parties agree that the prevailing
party in any arbitration shall be entitled to injunctive relief in any court of competent jurisdiction to enforce the arbitration award. The Parties further agree that the prevailing party in any such proceeding shall be awarded reasonable
attorneys’ fees and costs. The parties hereby waive and acknowledge that they are waiving any rights they may have to trial by jury in regard to claims arising out of this Agreement or the enforcement of this Agreement. 
 

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15. Entire
Agreement. This Agreement represents the entire agreement and understanding between the Company and Employee concerning Employee’s separation from the Company and supersedes and replaces any and all prior agreements and understandings
concerning Employee’s relationship with the Company and his compensation by the Company other than the Confidentiality Agreement described above in Section 8. 
 
16. No Oral Modification. This Agreement may only be amended in writing signed by Employee and the
Company. 
 
17. Governing Law. This
Agreement shall be governed by the laws of the State of California without reference to its conflict of laws provisions. 
 
18. Effective Date. This Agreement shall be effective on the eighth day after it has been signed by the Employee if the Employee
has not revoked the Agreement as provided in section 21 below. 
 
19. Counterparts. This Agreement may be executed in counterparts, and each counterpart shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the
undersigned. 
 
20. Assignment. This
Agreement may not be assigned by Employee or the Company without prior written consent of the other party. Notwithstanding the foregoing, this Agreement may be assigned by the Company to a corporation controlling, controlled by or under common
control with the Company without consent of the Employee. 
 
21. Acknowledgement of Waiver of Claims under ADEA. Employee acknowledges that he is waiving and releasing any rights he may have under the Age Discrimination in Employment Act of 1967 and its amendments, including the Older
Worker Benefits Protection Act (“ADEA”), and that this waiver and release is knowing and voluntary. Employee further acknowledges that he has been advised by this writing that (a) he should consult with an attorney prior to executing this
Agreement; (b) he has up to twenty-one (21) days within which to consider this Agreement; (c) he has seven (7) days following the execution of this Agreement to revoke the Agreement (the “Revocation Period”); and (d) this Agreement shall
not be effective until the Revocation Period has expired. Notice of revocation shall be made in writing by delivery to the Chief Executive Officer of the Company within the seven-day period provided for herein. 
 
22. Voluntary Execution of Agreement. Employee agrees
that he is executing this Agreement voluntarily and without any duress or undue influence, with the full intent of releasing all claims. Employee acknowledges that: 
 

	 	(a)	 	He has read this Agreement; 

 

	 	(b)	 	He has consulted with legal counsel of his own choice regarding this Agreement; 

 

	 	(c)	 	He has had more than twenty-one (21) days to consider this Agreement; 

 

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	 	(d)	 	He understands the terms and consequences of this Agreement and of the releases it contains; and 

 

	 	(e)	 	He is fully aware of the legal and binding effect of this Agreement. 

 
IN WITNESS WHEREOF, the parties have executed this Agreement on the respective dates set forth below.

 

	 QRS CORPORATION
	 	 	 	 
	
	 By:
	 	 /s/    FRED RUFFIN

	 	 By:
	 	 /s/    MARK SELF

	 	 	 Fred Ruffin
 Senior Vice President, Human Resources
	 	 	 	 Mark Self

	
	 Dated:
	 	 12/31/02

	 	 Dated:
	 	 12-23-02

 

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